The European Central Bank is cutting its key interest rate, a step to boost an economy that’s struggling to grow as consumers burned by inflation warily eye price tags and businesses try to chart a course amid political turmoil in leading economies France and Germany.

One Extended Tropical Model Shows Potential Development

Environmental campaigners are welcoming moves by insurance companies to exclude coverage for fossil fuel projects because of climate change.

The euro has fallen below parity with the dollar, diving to its lowest level in 20 years and ending a one-to-one exchange rate with the U.S. currency.

Annual inflation in Turkey soared to nearly 80% in July.

Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices driven partly by the war in Ukraine.

European Union expects Russia’s war in Ukraine to wreak havoc with the economic recovery for the foreseeable future through lower annual growth and record-high inflation.

As the ruble strengthens to levels not seen in seven years, Russia’s minister of economic development warns that the country’s businesses could suffer if the trend persists.

The Treasury Department will not allow any Russian government debt payments from accounts at U.S. financial institutions to be made in U.S. dollars, an agency official says.

Russian shares have slumped as its stock market resumed trading of all companies after a monthlong halt following the Ukraine invasion.

Russia’s central bank cautiously reopened bond trading on the Moscow exchange for the first time since the country invaded Ukraine.

Russia’s Finance Ministry said it transferred a $117 million bond interest payment in an attempt to avoid a default on government debt but left it open if the money actually reached foreign investors by the deadline.

Growth in the 19 countries that use the euro slowed down at the end of last year.

Turkish President Recep Tayyip Erdogan has appointed a new treasury and finance minister after the previous one stepped down as the country's currency has tumbled to record lows.

The Turkish currency has weakened by some 10% against the U.S. dollar, a day after President Recep Tayyip Erdogan insisted there would be no turning back from his unconventional policy of cutting interest rates despite high inflation.

The European Union’s statistics agency says sharply higher oil and gas prices have helped push annual inflation in the 19 countries that use the euro to its highest in more than a decade.

Consumers are seeing higher prices in Europe.

At 8 a.m. Thursday, newly named Tropical Storm Elsa had 40 mph sustained winds and was moving rapidly west, but still 780 miles east-southeast of the Windward Islands, according to the National Hurricane Center.

The rise in longer-term borrowing rates is regarded as a spillover from the U.S., where the economic recovery is expected to be faster. By contrast, the eurozone economy is not expected to recover until mid-2022, held back by a slow vaccine rollout and lower levels of government relief spending compared with the U.S. ECB President Christine Lagarde told a news conference that the rise in market borrowing rates, “if left unchecked, could translate into a premature tightening of financial conditions for all sectors of the economy. AdThe bond purchases have the effect of pushing down bond yields, which are used as benchmarks for borrowing across the region. Lagarde didn't specify an amount for the accelerated bond purchases.

Don't go Lloyd Christmas on me (Jim Carey's character in Dumb and Dumber). JACKSONVILLE, Fla. – Update: Keeping the dream alive, maybe up to a 2-5% chance from Central Georgia northward for a major snow event. The GFS is now also “hinting” there could be a major snow event deep into the South. About two or three times each winter, the global forecast models (Euro and GFS) fly off the rails. This year’s crazy story is coming from the Euro Global Forecast Model.

(AP Photo/Anupam Nath)LONDON — Ireland’s government is putting the country at its highest level of coronavirus restrictions for six weeks in a bid to combat a rise in infections. The board members hail from top California top universities and medical providers, along with state and local public health officials. ___AUSTIN, Texas -- Health officials in Texas have reported 4,319 COVID-19 hospital patients, the most since Aug. 28. Khan’s remarks come amid a slight increase in COVID-19 cases and deaths in recent weeks. Pakistan also reported 440 new confirmed cases, raising its total cases to 323,452 since February when Pakistan reported its first case.

You will hear me often cite the two most well-known global forecast models the GFS and Euro. They both represent some of the most sophisticated and complex forecast models that mankind has ever created. There are many other global forecast models at the National Hurricane Center's disposal. Anyhow, back to our current situation, as seen with the pics below, the National Hurricane Center is basically running faster and splitting the difference between the GFS and Euro. See how the Euro, GFS and NHC start at the same location, but quickly spread apart.

After what the Bahamas just endured with Hurricane Dorian, all eyes are keeping watch on what the National Hurricane Center is saying about a new area of disturbance that could become "Humberto." Based on what they find, this system may be declared a Tropical Depression or a Tropical Storm. This forecast model develops the system into a Hurricane and keeps it off of the Florida coast as it curves off to the north and then northeast. If this were to occur we would see even less rain and wind than what we saw with Dorian. This disturbance will bring heavy rainfall and gusty winds across portions of the Bahamas through Friday, especially in portions of the northwestern Bahamas affected by Hurricane Dorian.