PARIS (Reuters) – French Economy Minister Bruno Le Maire is in “very close discussions” with credit ratings agency Standard and Poor’s, which put France on notice in January for a possible downgrade, Prime Minister Elisabeth Borne said on Sunday. The agency, which is due to give an update on France on June 2, said a…
By Steve Holland, Gram Slattery and Katharine Jackson WASHINGTON (Reuters) -U.S. President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal to suspend the federal government’s $31.4 trillion debt ceiling on Saturday evening, ending a months-long stalemate. However, the deal was announced without any celebration, in terms that reflected the bitter tenor…
MILAN (Reuters) – Good relations with China are possible even without being part of the Belt and Road Initiative (BRI) deal, Italian Prime Minister Giorgia Meloni said in an interview published on Sunday, as her government weighs abandoning the project. Italy is the only major Western country to have joined China’s BRI scheme, which envisions…
(Reuters) -Turkish President Tayyip Erdogan aims to extend his rule into a third decade in an election on Sunday, with the momentum seen in his favour in the runoff vote after a first round showed him ahead of his challenger, Kemal Kilicdaroglu. Already buoyed by a parliamentary majority won by his Islamist-rooted AK Party and…
By Richard Cowan WASHINGTON (Reuters) – Democratic President Joe Biden and top congressional Republican Kevin McCarthy struck a deal on Saturday to suspend the federal government’s $31.4 trillion limit on U.S. government borrowing, in order to avert a catastrophic default as soon as June 5. Their challenge isn’t over. They now have to shepherd it…
By Shankar Ramakrishnan, Davide Barbuscia, Saeed Azhar and Laura Matthews (Reuters) – Good news of a tentative deal for the U.S. debt ceiling impasse may quickly turn out to be bad news for financial markets. U.S. President Joe Biden and top congressional Republican Kevin McCarthy on Saturday reached a tentative deal to raise the federal…
WASHINGTON (Reuters) – U.S. President Joe Biden and top congressional Republican Kevin McCarthy have reached a tentative deal to raise the federal government’s $31.4 trillion debt ceiling, ending a months-long stalemate. Here are some quotes from the announcement and reactions to the news: DEMOCRATIC PRESIDENT JOE BIDEN “Earlier this evening, Speaker McCarthy and I reached…
By David Lawder DETROIT (Reuters) – The United States “won’t tolerate” China’s effective ban on purchases of Micron Technology memory chips and is working closely with allies to address such “economic coercion,” U.S. Commerce Secretary Gina Raimondo said on Saturday. Raimondo told a news conference after a meeting of trade ministers in the U.S.-led Indo-Pacific…
By David Lawder DETROIT (Reuters) – Trade ministers of 14 countries in the U.S.-led Indo-Pacific Economic Framework (IPEF) talks “substantially completed” a deal to make supply chains more resilient and secure, the Commerce Department said on Saturday, marking the first tangible results of the year-long negotiations. U.S. Commerce Secretary Gina Raimondo told a press conference…
(Reuters) – A deal reached to raise the U.S. federal government’s $31.4 trillion debt ceiling keeps non-defense spending roughly flat for current fiscal year and 2024, a source familiar with the negotiations said on Saturday, There are no budget caps after 2025 in the U.S. debt deal, the source added. (Reporting by Steve Holland; Editing…
