International
US consumer confidence dips in November: survey
| By AFP |
US consumers were gloomier about the state of the American economy in November, likely due to a rise in gas prices and as recession risks loom, according to a survey released Tuesday.
The closely-watched consumer confidence index dipped to 100.2 in November, down two points from the month before, in a second straight month of decline, said think tank The Conference Board.
“Consumers’ expectations regarding the short-term outlook remained gloomy,” said Lynn Franco, senior director of economic indicators at The Conference Board.
The drop in consumer confidence this month, in line with analyst expectations, was “most likely prompted by the recent rise in gas prices,” she said.
Data on consumers’ short-term outlook suggests the likelihood of a recession remains elevated as well.
“Inflation expectations increased to their highest level since July, with both gas and food prices as the main culprits,” Franco said.
Consumer inflation in the United States has been hovering at the highest level in decades, prompting the Federal Reserve to take aggressive steps to raise interest rates and cool the economy.
The central bank walks a tightrope trying to bring down surging costs while avoiding tipping the world’s biggest economy into a downturn.
For now, consumer intentions to buy homes, automobiles and big-ticket appliances have moderated.
“The combination of inflation and interest rate hikes will continue to pose challenges to confidence and economic growth into early 2023,” Franco said.
But with inflation showing signs of easing and central bankers noting it would take time for policy effects to be realized, a growing number of voices including Fed officials have advocated for smaller steps in the coming months.
The consumer sentiment reading “remains depressed compared to pre-pandemic” levels, said economist Rubeela Farooqi of High Frequency Economics.
Overall, measures of sentiment “are sending a negative signal about household spending,” even if consumption continues to support growth for now, she added.
International
Rubio rules out 2028 presidential bid if Vance runs
U.S. Secretary of State Marco Rubio said he would not seek the presidency in 2028 if current Vice President JD Vancedecides to run as the Republican nominee to succeed President Donald Trump.
“If JD Vance runs for president, he will be our candidate, and I will be one of the first people to support him,” Rubio said in an interview with Vanity Fair, in which he appeared alongside other senior members of the presidential cabinet.
Rubio, 54, and Vance, 41, are widely viewed as two of the leading Republican figures who could headline the party’s ticket in the 2028 election. Under the U.S. Constitution, Trump is barred from seeking another term after completing two presidential mandates.
In a lighthearted moment during the interview, Vance jokingly offered photographers $1,000 if they managed to make him look better than Rubio in the photos. Both leaders have received public backing from Trump, who last October floated the idea of a joint ticket featuring Rubio and Vance, without clarifying who would lead it.
“I think that if they ever teamed up, they would be unstoppable. I don’t think anyone would run against us,” Trump said at the time.
White House Chief of Staff Susie Wiles, who also took part in the interview, confirmed that Trump does not intend to violate the 22nd Amendment, which prohibits a third presidential term, though she acknowledged that the president is “having fun” with speculation about a possible return to office.
Rubio, the son of Cuban immigrants, served as a Republican senator from 2010 to 2025. He sought the party’s presidential nomination in 2016 but was defeated by Trump after a bruising primary contest. His name was floated as a potential vice presidential pick in 2024, but Vance ultimately secured the spot. After taking office, Trump appointed Rubio as secretary of state, making him the first Latino to hold the position.
International
Authorities search for armed and dangerous suspect in fatal Brown University attack
According to the statement, investigators are “seeking the public’s help to identify and speak with an individual” who was seen “near” the suspect at the time of the attack.
The Providence Police Department in Rhode Island released three photos of the person of interest, whose face has been blurred. In the images, the individual is wearing navy blue clothing, what appears to be a green hood, and carrying a light-colored backpack.
Earlier, authorities had released several photos and videos of a suspect described as “approximately 5 feet 8 inches tall, with a stocky build,” dressed in dark clothing, with their face covered by a surgical mask and wearing a beanie. The suspect’s identity remains unknown.
Authorities are offering a $50,000 reward for any information leading to the identification, arrest, and conviction of the person responsible for the killings, who is considered armed and dangerous.
The gunman opened fire on Saturday at Brown University’s engineering and physics building, where exams were being held, killing students Ella Cook and Mukhammad Aziz Umurzokov. The names of the nine people injured have not been released.
International
Police investigate deaths of Rob Reiner and wife as apparent homicide
The Los Angeles Police Department (LAPD) is investigating the deaths of Hollywood actor and filmmaker Rob Reinerand his wife as an “apparent homicide,” amid a wave of tributes to the director of classics such as When Harry Met Sally.
According to U.S. media reports on Sunday, Rob Reiner and Michele Singer Reiner were found dead at their Los Angeles mansion with what appeared to be stab wounds.
Several political figures shared messages of condolence following the reported deaths of the director of A Few Good Menand his wife.
While the LAPD did not officially confirm the identities of the victims, it stated that homicide detectives were dispatched to the Reiner residence.
“At this time, no additional details are available and the investigation into an apparent homicide is ongoing,” the Los Angeles Police Department said in a statement posted on social media.
LAPD Deputy Chief Alan Hamilton told reporters that no arrests have been made and that no individuals are currently being questioned as suspects.
“I’m not going to confirm whether anyone is being questioned at this moment or not. We are going to try to speak with as many family members as we can,” Hamilton said.
CNN reported that a family spokesperson confirmed the deaths of Reiner and his wife.
California Governor Gavin Newsom, former U.S. President Barack Obama, and former Vice President Kamala Harrisissued statements expressing their condolences.
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