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Global stocks rise ahead of US inflation update
Nation
AP

Global stocks rise ahead of US inflation update

  • By JOE McDONALD - AP Business Writer
  • Updated

Shares in Europe and Asia have followed Wall Street higher ahead of a United States inflation update that traders hope might prompt the Federal Reserve to ease plans for more interest rate hikes. Wall Street rose Thursday as worries about the global financial system eased. The European Union's statistics agency reported that inflation in the 20 countries that use the euro slowed to 6.9% in March from 8.5% the month before. Traders hope a measure of U.S. inflation that is closely watched by the Federal Reserve also will show upward pressure on prices easing. That might prompt the Fed to postpone plans for a possible rate hike at its May meeting.

Business
AP

Pirates hold hostage some crew of oil tanker off West Africa

  • By JAN M. OLSEN - Associated Press

Several members of the crew on a Liberia-flagged tanker that that was boarded by pirates earlier this month in West Africa’s Gulf of Guinea, are being held hostages. The French Navy that was patrolling the area, found the Monjasa Reformer north of where it had been attacked. The Danish owner of the tanker said Friday that “the pirates had abandoned the vessel and brought a part of the crew members with them.” It did not say how many had been kidnapped. The nationalities of the crew members have not been announced.

Europe Economy
Business
AP

Europe Economy

  • Michael Probst - staff, AP
  • Updated

FILE - The European Central Bank is pictured in Frankfurt, Germany, Wednesday, March 15, 2023. Inflation in the 20 countries that use the euro slowed to 6.9 percent in March, the lowest level in a year, as food costs continued to rise while energy prices fell, making a sharp turnaround after months of punishing increases. (AP Photo/Michael Probst, File)

Europe's inflation eases to 6.9% as energy falls but food up
Business
AP

Europe's inflation eases to 6.9% as energy falls but food up

  • AP

Inflation in the 20 countries that use the euro slowed to 6.9% in March. Food costs are still on the rise, but energy prices fell, making a sharp turnaround after months of punishing increases. Data released Friday by the European Union’s statistics agency, Eurostat, shows that consumer prices in the euro zone dropped from the 8.5% recorded in February. The inflation has dropped to its lowest in a year since since peaking at 10.6% in October. Prices for food, alcohol and tobacco rose by a painful 15.4%, faster than the previous month’s 15%. Energy prices, however, fell 0.9% in an abrupt change of direction after rising at double-digit rates over the past year amid Russia's war in Ukraine.

Albania Tunnels Tourism
Life
AP

Albania Tunnels Tourism

  • Franc Zhurda - stringer, AP
  • Updated

Tourist guide Afrim Cenaj, 44, shows the underground tunnels beneath the city of Kukes, about 150 kilometers (90 miles) north of Tirana, Albania, Wednesday, March 15, 2023. A new underground museum of tunnels built during the former communist regime to shelter residents in case of a war will serve Kukes, Albania’s poorest district, to attract tourists. (AP Photo/Franc Zhurda)

Albania Tunnels Tourism
Life
AP

Albania Tunnels Tourism

  • Franc Zhurda - stringer, AP
  • Updated

Bukurosh Onuzi, a tourist expert in charge of the museum project, shows the underground tunnels beneath the city of Kukes, about 150 kilometers (90 miles) north of Tirana, Albania, Wednesday, March 15, 2023. A new underground museum of tunnels built during the former communist regime to shelter residents in case of a war will serve Kukes, Albania’s poorest district, to attract tourists. (AP Photo/Franc Zhurda)

Albania Tunnels Tourism
Life
AP

Albania Tunnels Tourism

  • Franc Zhurda - stringer, AP
  • Updated

Bukurosh Onuzi, a tourist expert in charge of the museum project, shows the underground tunnels beneath the city of Kukes, about 150 kilometers (90 miles) north of Tirana, Albania, Wednesday, March 15, 2023. Authorities, assisted from the European Union, plan to rehabilitate the tunnel network and show to tourists how residents would live for six months in a similar town underneath. A spider network of 5-7 kilometer (3-4 mile) long tunnels could shelter 20,000-30,000 people. (AP Photo/Franc Zhurda)

Albania Tunnels Tourism
Life
AP

Albania Tunnels Tourism

  • Franc Zhurda - stringer, AP
  • Updated

Bukurosh Onuzi, a tourist expert in charge of the museum project, exits from one of the underground tunnels beneath the city of Kukes, about 150 kilometers (90 miles) north of Tirana, Albania, Wednesday, March 15, 2023. Authorities, assisted from the European Union, plan to rehabilitate the tunnel network and show to tourists how residents would live for six months in a similar town underneath. (AP Photo/Franc Zhurda)

Albania Tunnels Tourism
Life
AP

Albania Tunnels Tourism

  • Franc Zhurda - stringer, AP
  • Updated

Tourist guide Afrim Cenaj, 44, shows the underground tunnels beneath the city of Kukes, about 150 kilometers (90 miles) north of Tirana, Albania, Wednesday, March 15, 2023. A new underground museum of tunnels built during the former communist regime to shelter residents in case of a war will serve Kukes, Albania’s poorest district, to attract tourists. (AP Photo/Franc Zhurda)