However Muslims break their fast this Ramadan, they’re probably paying more for it than last year. Some of the reasons are the same everywhere. Shockwaves from the war in Ukraine, for one. But in economics, there’s rarely just one reason for anything. Here’s what’s raising the cost of five iftar dishes in five countries.
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The U.S. economy unexpectedly shrank 1.4% in the first three months of 2022 compared to a year ago, the government reported Thursday, raising fears that the world’s largest economy could face a recession. 

After more than a year of rapid growth as the United States recovered from the initial ravages of the coronavirus, the American economy was buffeted in the January-to-March period by the fastest increase in consumer prices in four decades, the new wave of coronavirus omicron variant cases and Russia’s invasion of Ukraine. 

The slowdown is the first since the coronavirus recession ended in April 2020, a period when millions of workers were laid off and many businesses shut their doors or sharply curtailed their operations. 

Most U.S. economists in the U.S., however, believe the U.S. economy is resilient and project that it could resume modest growth in the April-to-June period, although some analysts are suggesting that a recession — two straight quarters of a receding economy — cannot be ruled out. 

Still, hundreds of thousands of jobs are routinely being added to the economy month after month and March’s 3.6% unemployment rate was just a tick above the 3.5%, 50-year-low recorded just before the debilitating pandemic swept into the country. 

But the first-quarter decline reported by the Bureau of Economic Analysis was in marked contrast to the 5.7% growth reported for last year, the fastest full-year advance since 1984, and the 6.9% annualized growth rate in the fourth quarter last year. 

Economic analysts said the first-quarter decline was caused in part by a widening trade deficit, meaning that the U.S. imported far more goods than it exported. Businesses rapidly built up their inventories in the latter part of 2021 but slowed the pace in early 2022. Government aid to combat the effects of the coronavirus and boost the economy has now largely ended as well. 

While job growth has been robust and the unemployment rate steadily dipped, most U.S. consumers are worried about inflation, especially with higher food costs and gasoline prices at service stations pinching family budgets. Year over year, consumer prices were up 8.5% in March, a 40-year high. 

Policymakers at the country’s central bank, the Federal Reserve, have embarked on what they have signaled will be a series of increases in the coming months in their benchmark interest rate to tame inflation. 

The expectation is that the Fed’s interest rate increase will push borrowing costs higher for both businesses and consumers, cooling too-rapid growth of the economy.     

 
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«Херсонщина – це зона ризикованого землеробства» – за словами голови ОВА, влада запропонувала аграріям утриматися від весняних робіт
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Tesla lost $126 billion in value on Tuesday amid investor concerns that Chief Executive Elon Musk may have to sell shares to fund his $21 billion equity contribution to his $44 billion buyout of Twitter. 

Tesla is not involved in the Twitter deal, yet its shares have been targeted by speculators after Musk declined to disclose publicly where his cash for the acquisition of Twitter is coming from. The 12.2% drop in Tesla’s shares on Tuesday equated to a $21 billion drop in the value of his Tesla stake, the same as the $21 billion in cash he committed to the Twitter deal. 

Wedbush Securities analyst Daniel Ives said that worries about upcoming stock sales by Musk and the possibility that he is becoming distracted by Twitter weighed on Tesla shares.  

“This (is) causing a bear festival on the name,” Ives said. 

Tesla did not immediately respond to a request for comment. 

To be sure, Tesla’s share plunge came against a challenging backdrop for many technology-related stocks. The Nasdaq closed at its lowest level since December 2020 on Tuesday, as investors worried about slowing global growth and more aggressive rate hikes from the U.S. Federal Reserve.  

Twitter’s shares also slid on Tuesday, falling 3.9% to close at $49.68 even though Musk agreed to buy it on Monday for $54.20 per share in cash. The widening spread reflects investor concern that the precipitous decline in Tesla’s shares, from which Musk derives most of his $239 billion fortune, could lead the world’s richest person to have second thoughts about the Twitter deal. 

“If Tesla’s share price continues to remain in freefall that will jeopardize his financing,” said OANDA senior market analyst Ed Moya. 

As part of the Tesla deal, Musk also took out a $12.5 billion margin loan tied to his Tesla stock. He had already borrowed against about half of his Tesla shares. 

University of Maryland professor David Kirsch, whose research focuses on innovation and entrepreneurship, said investors started to worry about a “cascade of margin calls” on Musk’s loans. 
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Це перші сповіщення про зупинки постачання після того, як Путін заявив, що «недружні» іноземні покупці повинні платити за російський газ у рублях
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Про завершення синхронізації «Укренерго» з енергомережею континентальної Європи ENTSO-E стало відомо у середині березня
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Українські підприємства, кінцевими бенефіціарами яких є олігархи Ахметов, Коломойський та Пінчук, мають мільярдні борги за послуги з передачі та диспетчеризації електроенергії
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У БЕБ припускають, що «брудні» гроші вливаються у фінансову систему ЄС та можуть використовуватися для подальшої протизаконної діяльності
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