White House vows an improved effort against drug overdoses

By Nandita Bose WASHINGTON (Reuters) – President Joe Biden’s administration on Tuesday pledged an improved effort to combat drug overdoses that claimed the lives of about 100,000 Americans last year, using a White House summit to tout a multifaceted approach to tackle synthetic and illicit drugs such as the powerful opioid fentanyl. “Today’s summit is…

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Global housing outlook brightens despite pressure from higher rates: Reuters poll

By Hari Kishan and Sarupya Ganguly BENGALURU (Reuters) – The outlook for most major housing markets has improved slightly from three months ago despite high interest rates, according to Reuters polls of property analysts who were mostly split on whether affordability would worsen or not. House prices rose at a blistering pace across the developed…

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Who is Binance billionaire Changpeng Zhao?

By Angus Berwick and Tom Wilson LONDON (Reuters) – On Monday, the U.S. Securities and Exchange Commission took aim at the most powerful man in crypto. The SEC accused Binance founder Changpeng Zhao of operating a “web of deception,” charging him and his exchange with 13 offences. These ranged from allegedly manipulating Binance’s trading volumes…

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Fairfax Financial to buy majority of PacWest loans sold to Kennedy-Wilson

(Reuters) – Canadian insurer Fairfax Financial Partners said on Monday it had agreed to buy a huge chunk of PacWest Bancorp real estate loans from property investment firm Kennedy-Wilson Holdings Inc for $2.1 billion. PacWest had agreed last month to sell 74 real estate construction loans to Kennedy-Wilson for $2.4 billion and at a $200…

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Richard Teng seen as potential successor to Binance’s Changpeng Zhao -reports

(Reuters) – Richard Teng, Binance’s head of regional markets outside the United States, is seen as the most likely candidate to succeed the cryptocurrency firm’s chief executive officer, Changpeng “CZ” Zhao, according to media reports. The issue of succession has taken on additional urgency, as the company has come under intense U.S. scrutiny in recent…

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US Navy shows Chinese warship’s ‘unsafe interaction’ near Taiwan

By Ben Blanchard and Laurie Chen TAIPEI/BEIJING (Reuters) -The U.S. Navy has released a video of what it called an “unsafe interaction” in the Taiwan Strait, in which a Chinese warship crossed in front of a U.S. destroyer in the sensitive waterway, a risky incident amid deteriorating Sino-U.S. ties. The encounter comes as both countries…

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Analysis-Strong economy puts Bank of Canada’s 4-month rate hike pause in doubt

By Steve Scherer OTTAWA (Reuters) – The Bank of Canada (BoC) became the first major global central bank to pause its rate-hike campaign in January, but the economy’s surprisingly strong performance since then will test Governor Tiff Macklem’s resolve to stay on the sidelines this week. A return to rate-hike mode would raise questions about…

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Analysis – Dollar bears bide their time as U.S. economic strength persists

By Saqib Iqbal Ahmed NEW YORK (Reuters) – A strong U.S. economy is giving an unexpected boost to the dollar, frustrating bearish investors betting on its decline. The dollar is up 2.5% from its recent low against a basket of currencies and stands near its highest level since March. The nascent rally has defied expectations…

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