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Europe suffers fuel prices soar as Russia cuts natural gas supply

BERLIN — Jörg Mertens knew the West’s standoff with Russia had sent energy prices soaring across Europe. But his August bills left him gobsmacked.His energy tab had surged by 70 percent.“I’m afraid,” said the 60-year-old Munich man, his voice breaking. After rent, the increased costs — about $190 a month for electricity and heat, compared …

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Euro zone inflation hits another record of 9.1% as food and energy prices soar

Inflation continues to hit new records just as the European Central Bank mulls another large interest rate hike for next month.NurPhoto / Contributor / Getty ImagesEuro zone inflation hit a new record high in August of 9.1%, according to flash figures from Europe’s statistics office Eurostat, with high energy prices the main driving force.The rate …

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Energy bills are squeezing businesses and people as UK costs soar

A high street decorated with British Union Jack bunting in Penistone, UK. The End Fuel Poverty Coalition has warned “a tsunami of fuel poverty will hit the country this winter.”Bloomberg | Bloomberg | Getty ImagesLONDON — Facing soaring energy bills, rising costs and rapidly declining consumer purchasing power, small businesses across the U.K. are struggling …

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STOCK MARKET NEWS: Nasdaq leads rally, Ford’s sales soar, OPEC decision hits oil

U.S. equity futures traded higher Wednesday morning, following losses in the prior session as political tensions were in focus over House Speaker Nancy Pelosi’s visit to Taiwan.The major futures indexes suggest a gain of 0.2% when trading begins.Beijing announced a ban on imports of some Taiwanese goods but no immediate major penalties following the arrival …

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