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Hard Numbers: Indian workers strike, Shanghai lockdown makes oil market jittery, Biden’s budget plan, EU targets Lebanese laundering

Indian workers strike, Shanghai lockdown makes oil market jittery, Biden’s budget plan, EU targets Lebanese laundering

Demonstrators in Kolkata block a passenger train during a two-day long strike to protest against what they say are "anti-people" policies of the central government.

REUTERS/Rupak De Chowdhuri

2: Indian workers began a two-day nationwide strike on Monday to protest Prime Minister Narendra Modi’s economic policies. The strikers oppose the government’s attempt to privatize some state-owned assets, which they say will boost prices. They are also calling for a greater safety net for workers in the informal economy, who account for 80% of Indian workers.


4.50: Global oil prices fell $4.50 a barrel on Monday after Shanghai entered a city-wide lockdown to contain a COVID-19 outbreak. Traders were concerned about further supply chain disruptions and a drop in demand as China’s financial capital – home to 25 million people – prepared to shut down.

5.8 trillion: The Biden administration unveiled a $5.8 trillion budget plan Monday that aims to reduce the national deficit in part by introducing a new tax on those worth more than $100 million. The White House’s recent focus on fiscal responsibility comes amid fears that still-high inflation will hurt Democrats ahead of midterm elections this November.

120 million: The European Union has seized assets worth 120 million euros ($130 million) linked to alleged money laundering activities by Lebanese officials. These include properties in Germany, France, and Luxembourg. Though it's unclear which individuals the operation was directed against, high-ranking Lebanese officials have for decades embezzled public funds while the country descended further into economic and political crises.
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