WASHINGTON (AP) — The global economy has slumped. Turmoil has gripped financial markets. And the U.S. job market, despite steady gains, still isn't fully healthy.
Yet when the Federal Reserve meets this week, few foresee any major policy changes. The Fed is expected to complete a bond-buying program, which was intended to keep long-term interest rates low. And, to support the economy, it will likely reiterate it's in no rush to raise its key short-term rate.
The economy the Fed will discuss has been strengthening, thanks to solid consumer and business spending, manufacturing growth and a surge in hiring that's lowered the unemployment rate to a six-year low of 5.9 percent.
CAIRO (AP) — Egyptian President Abdel-Fattah el-Sissi on Monday ordered the military to join police forces in guarding vital state facilities against terror attacks, a move that would expand the military's already dominant public presence since it toppled the government of Islamist President Mohammed Morsi 15 months ago.
The decree follows a surge in attacks by Islamic militants against troops and police and the weekend killing of 30 Egyptian soldiers by suspected militants in the troubled northern part of the Sinai Peninsula — the deadliest attack against the army in decades. El-Sissi slapped a dusk-to-dawn curfew on northern Sinai after the attack while there has been a flurry of media reports saying authorities were preparing to evacuate civilians from Sinai's hotspots.
COPENHAGEN, Denmark (AP) — The head of the U.N.'s panel on climate change has urged world governments not to be overcome by hopelessness as they negotiate a new agreement to fight global warming.
Intergovernmental Panel on Climate Change chairman Rajendra Pachauri said Monday that despite the IPCC's own warnings that time is running out, the panel has also suggested actions needed to keep climate change in check.
KIEV, Ukraine (AP) — Ukrainians overwhelmingly backed several pro-Western parties in a landmark parliamentary election Sunday, another nudge in the former Soviet republic's drift away from Russia.
Two exit polls released as voting closed indicated that President Petro Poroshenko's party will secure a narrow win in the parliamentary election, falling substantially short of an outright majority. Prime Minister Arseniy Yatsenyuk's Popular Front followed close behind.
Although they lead rival parties, Poroshenko and Yatsenyuk share pro-Western sentiments and have campaigned on reform agendas aimed at pulling Ukraine back from the brink of economic ruin. The parties are expected to join forces with other reform-oriented groups to form a broad pro-European coalition.
Representatives of 190 countries, meeting in Germany, failed to reach an agreement over how to distribute $100 billion a year in promised climate aid, pushing the issue onto a December meeting of higher-level officials in Peru, Bloomberg reports.
HONOLULU (AP) — A shipping company pleaded guilty Friday to criminal charges from a 233,000-gallon molasses spill in Honolulu Harbor, but a federal judge said he wants to examine the legality of $600,000 in community service payments the company has agreed to pay.
Last year's spill killed more than 26,000 fish and other marine life.
U.S. Magistrate Judge Richard Puglisi accepted the plea from Matson Navigation Company Inc. to two misdemeanor charges for illegally releasing the molasses without a permit. The company and federal prosecutors wanted to proceed immediately with sentencing, with both sides agreeing Matson would pay a $400,000 fine and give $600,000 to environmental organizations.
HONOLULU (AP) - Dozens of Maui mothers are going door-to-door to urge voters to back a ban on the cultivation of genetically engineered crops because they think they are unsafe.
A group backed by companies growing the crops counters with ads playing heavily on the airwaves that urge rejection of what they are calling the "farming ban."
The dueling campaigns over a Nov. 4 ballot measure that would prohibit the growing of genetically modified organisms until studies show they're safe isn't just a local issue in a county of only 160,000 residents in the middle of the Pacific Ocean.
The push to lift the U.S. ban on oil exports got a lift last week with the emergence of a new group of independent oil producers who back a repeal.
Yet refiners remain hesitant to reverse decades of policy enacted in response to the OPEC oil embargo, with one group of four companies already opposed.
Now the head of the refiners trade association is pushing back against arguments by export advocates that his members are nearing their limit to process light crude from booming shale plays that are accounting for much of the soaring growth in U.S. production.
The American Fuel and Petrochemical Manufacturers will survey its membership to determine the additional amounts of light crude that it can refine and issue a report in the next few months, the group's president Charles T. Drevna said in an interview with EnergyGuardian.
But he's already certain refiners can refine more domestic light crude and called claims that they are reaching their limit a "total fallacy" -- claims that his group plans to address head-on.
Producers for American Crude Exports, or PACE, for short, is made up of more than a dozen independent oil companies who would like to see the decades-old U.S. ban on crude exports overturned, Reuters reports.
Launching personal attacks on environmental activists and celebrity supporters should be part of the oil and gas industry strategy if it wants to fight for expanded drilling, according to advice from consultant Richard Berman as he drums up support for his "Big Green Radicals" PR campaign, The New York Times reports.
The re-election contest for Rep. Fred Upton, R-Mich. and chair of the House Energy and Commerce Committee, is attracting last-minute money -- including some from the American Future Fund for an ad extolling his support for the Keystone XL pipeline -- as polling indicates his race against Democrat Paul Clements is a tight one, The Hill reports.
In an effort to maintain Democratic control of the Senate, environmental groups are supporting some backers of the Keystone XL pipeline –- like Michelle Nunn in Georgia and Sen. Kay Hagan in North Carolina -– as well as fracking supporter Sen. Mark Udall in Colorado, The Wall Street Journal reports.
Word that OPEC has boosted its crude output to a 14-month high sent oil prices plunging again early Friday. West Texas Intermediate crude for December delivery dropped 1 percent, or 81 cents, to $80.31 a barrel in electronic trading on the Nymex, while in London Brent was down 93 cents to $85.31, Bloomberg reports.
A tentative settlement Cheniere Energy has reached with shareholders over lawsuits would block executives from receiving shares authorized in February 2013 but not paid out, according to a filing with the Securities and Exchange Commission, FuelFix reports.
Robert MacLean –- now a solar power consultant after he was fired by the Department of Homeland Security for leaking information about the air marshal program -– says many federal employees, including those in the Environmental Protection Agency and the Departments of Energy and Interior, could be affected by the outcome of his lawsuit now before the U.S. Supreme Court, E&E reports.
The capacity market and infrastructure improvements will be the topics of discussion at a conference between New York officials and representatives of the Federal Energy Regulatory Commission Nov. 5, Reuters reports.