Ohio abortion rights fight highlights Republican electoral vulnerabilities

By Jason Lange, Gabriella Borter and Joseph Ax (Reuters) -Republican vulnerabilities on abortion policy are on display in Ohio, with the party playing defense against a surge in abortion rights activism that could help President Joe Biden and his Democratic Party in next year’s elections. The Republican-controlled legislature on Wednesday approved a measure intended to…

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US Congress, White House begin tough debt limit, budget negotiations

By Richard Cowan and David Morgan WASHINGTON (Reuters) – Detailed talks on raising the U.S. government’s $31.4 trillion debt ceiling kicked off on Wednesday with Republicans continuing to insist on spending cuts, the day after Democratic President Joe Biden and top congressional Republican Kevin McCarthy’s first meeting in three months. Time is tight to avoid…

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Martin Shkreli-founded drug company files for bankruptcy

By Dietrich Knauth NEW YORK (Reuters) – Vyera Pharmaceuticals, which previously settled price-fixing charges that resulted in founder Martin Shkreli being banned from the pharmaceutical industry, filed for bankruptcy late Tuesday to sell its assets. Vyera said its bankruptcy was the result of declining profits, increased competition for generic drugs, and litigation alleging that Vyera…

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White House backs faster energy project permits, joining Republicans

By Jarrett Renshaw and Timothy Gardner WASHINGTON (Reuters) -The White House on Wednesday called on Congress to pass permitting legislation that would help speed up clean energy and fossil fuel projects as the bipartisan effort gets pulled into a standoff on the debt ceiling. The renewed push on permitting reform comes the day after President…

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JPMorgan’s Dimon says debt ceiling standoff could cause panic – report

NEW YORK (Reuters) – JPMorgan Chase & Co’s CEO Jamie Dimon said the congressional standoff over the U.S. debt ceiling, and a potential U.S. default, could create a financial panic, according to an interview with Punchbowl News published on Wednesday. “Panic isn’t necessarily a rational thing,” the website quoted Dimon as saying. “People panic. And…

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Stocks rise as U.S. inflation trends lower, bond yields slide

By Herbert Lash NEW YORK (Reuters) – A gauge of global stock markets rose and bond yields slid on Wednesday after data showed U.S. consumer prices in April rose at a slightly slower-than-expected pace, suggesting the Federal Reserve is succeeding in taming high inflation. The Consumer Price Index rose 0.4% after rising 0.1% in March,…

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Southeast Asian leaders pledge crackdown on human traffickers online scams

By Kate Lamb LABUAN BAJO, Indonesia (Reuters) – Southeast Asian leaders pledged on Wednesday to crack down on online scams operated by human traffickers to prey on vulnerable job seekers, particularly in the poorest countries of the region. Meeting in Indonesia for a summit of the Association of Southeast Asian Nations, the leaders called for…

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Dollar in holding pattern, inflation data provides little clarity on rates

By Laura Matthews NEW YORK (Reuters) – The dollar remained stable against a basket of currencies on Wednesday as data showed inflation slowed slightly more than expected last month but gave traders little clarity on the U.S. monetary policy outlook. A U.S. Labor Department report on Wednesday showed the annual increase in consumer prices dipped…

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