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Slack.com slash DHQ. US production of oil and natural gas is booming. What's behind

the resurgence? Russia's invasion of Ukraine, scrambled global markets for both oil and gas

as a result of European sanctions against Russia. And so what did European nations did? They

scrambled to get natural gas and they turned to the US.

And why the World Bank is slashing its forecast for economic growth. Plus, booksellers are

divided on just how big Prince Harry's memoir will be. It's Tuesday, January 10th. I'm

Anne Marie for Tolly for the Wall Street Journal. This is the PM edition of What's News, the

Top Headlines and Business Stories that moved the world today.

The World Bank has sharply cut its growth forecast for the global economy as high inflation

persists. The bank now expects growth to slow to 1.7% this year down from its 3% estimate

in June. Our economics reporter Harriet Tories says the major factors are inflation and

monetary tightening.

Inflation is caused interest rates to go up around the world as central banks try to cool

demand and get inflation to come back down. But that has a lot of side effects. So it

raises the cost of borrowing for businesses for consumers and it reduces investment. And

then of course on top of all of this we've got the disruptions from Russia's invasion

of Ukraine which has pushed up commodity prices and caused a lot of interruptions in the

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