Russian oil, US consumer confidence

ELMAU, Germany (AP) — Leaders of the world’s wealthiest democracies have taken a united stance in supporting Ukraine “for as long as it takes” as the Russian invasion continues. They vowed to hit Russia with immediate and severe economic pain for its invasion. Part of that could be moves to cap Russia’s revenue from oil sales that fund the war. The Group of Seven’s final statement foresees further talks in the coming weeks to explore measures to ban the import of Russian oil above a certain level. The leaders also agreed to ban imports of Russian gold and step up aid to countries hit by food shortages by the blockade of Ukrainian grain shipments through the Black Sea. ___

US consumer confidence at 16-month low


WASHINGTON (AP) — U.S. consumer confidence has fallen to a 16-month low as lingering inflation and rising interest rates make Americans as pessimistic as they have been about the future for nearly a decade. The Conference Board said on Tuesday its consumer confidence index slipped to 98.7 in June from 103.2 in May and the second consecutive monthly decline and the lowest level since February 2021. The group’s expectations index Business research, based on the six-month outlook for consumer income, business and labor market conditions, fell in June to 66.4 – its lowest level since 2013.

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Instagram hides some posts that mention abortion

WASHINGTON (AP) — Instagram blocks posts that mention abortion from public view, in some cases requiring users to confirm their age before letting them see posts offering information about the procedure. Over the past day, several abortion advocacy Instagram pages discovered that their posts or stories were hidden with a disclaimer describing the posts as “sensitive content.” The Associated Pres identified half a dozen other posts that mentioned the word “abortion” and were later covered up by Instagram. All posts were informational in nature and none of the posts included pictures of abortions. ___

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