Biden and UK’s Sunak pledge AI, minerals, Ukraine partnership

By Trevor Hunnicutt, Andrea Shalal and Kate Holton WASHINGTON (Reuters) -U.S. President Joe Biden and British Prime Minister Rishi Sunak said Thursday their countries would partner on advanced technologies, clean energy and critical minerals as they strengthen a historical security alliance. Biden and Sunak signed the “Atlantic Declaration,” which Sunak described as a first-of-its-kind economic…

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FTX U.S. judge expresses doubts about parallel Bahamian bankruptcy

By Dietrich Knauth NEW YORK (Reuters) – The judge overseeing FTX’s U.S. bankruptcy said Thursday that he would not defer to a Bahamian court about key issues like which FTX entity should collect assets and repay customers of the bankrupt crypto exchange. Liquidators for FTX Digital Markets, the exchange’s Bahamas-based subsidiary, have asked U.S. Bankruptcy…

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EU’s Breton demands Meta act against online content targeting children

By Foo Yun Chee BRUSSELS (Reuters) -EU industry chief Thierry Breton will meet Meta Platforms Chief Executive Mark Zuckerberg on June 23 and demand that he act immediately to tackle content targeting children, as Meta’s voluntary child protection code seemed not to be working. Social media platforms such as Meta’s Instagram, ByteDance’s TikTok, Snap’s Snapchat…

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Chinese regulators try to assure sceptical foreign financiers

By Jason Xue and Joe Cash SHANGHAI/BEIJING (Reuters) – China is open for investment, the country’s top financial regulators told foreign financiers at a high-profile forum in Shanghai on Thursday, as concerns mount among foreign firms that they may no longer be welcome. The world’s second-largest economy, keen for foreign investment to support its reopening…

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Two senators propose to bar US FAA from using Chinese drones

By David Shepardson WASHINGTON (Reuters) – Two U.S. senators said on Thursday they had proposed barring the Federal Aviation Administration from buying or using Chinese-made drones. Senator Marsha Blackburn, a Republican, and Senator Mark Warner, a Democrat who chairs the Intelligence Committee, proposed legislation that would also prohibit the FAA from providing federal funds to…

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Crypto companies made ‘calculated’ decision to flout rules, says SEC chair

By John McCrank and Hannah Lang (Reuters) -The chair of the U.S. Securities and Exchange Commission (SEC) on Thursday strongly rebutted criticism that the agency is trying to crush the crypto industry, and said many companies in the space had made a “calculated economic decision” to flout its rules. Speaking at a Piper Sandler conference…

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GM to invest more than $500 million in Texas plant for future SUVs

By David Shepardson (Reuters) -General Motors said Thursday it will invest more than $500 million in its Arlington, Texas assembly plant to prepare it for production of next-generation internal combustion engine full-size SUVs. The Detroit automaker is making a series of announcements this month. Efforts to retool existing North American auto plants and introduce more…

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Shares rise, Treasury yields fall as US jobless claims surge

By Marc Jones and Koh Gui Qing NEW YORK/LONDON (Reuters) – World stocks rose on Thursday and Treasury yields edged lower as investors leaned toward bets that the U.S. Federal Reserve is likely to abstain from raising interest rates next week. This view was bolstered by Thursday’s data showing the number of Americans filing new…

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