By Trevor Hunnicutt WASHINGTON (Reuters) – The deal to end the United States’ debt limit standoff was classic Joe Biden politics: eke out a narrow compromise from an ugly beginning and declare victory. Biden’s pact with Republican Kevin McCarthy suspends the $31.4 trillion U.S. debt ceiling, avoiding an economic crisis, in exchange for setting spending…
By Michael S. Derby NEW YORK (Reuters) – Supply chain pressures cooled again in May, New York Fed data showed, in a development that further eased what had been one of the key factors that had helped drive surging inflation pressures around the work. The New York Fed said on Tuesday that its latest Global…
By David Lawder WASHINGTON (Reuters) -The World Bank on Tuesday raised its 2023 global growth outlook as the U.S., China and other major economies have proven more resilient than forecast, but said higher interest rates and tighter credit will take a bigger toll on next year’s results. Real global GDP is set to climb 2.1%…
By Stephanie van den Berg and Anthony Deutsch THE HAGUE (Reuters) -Ukraine on Tuesday called Russia a terrorist state at the top U.N. court as hearings began in a case over Moscow’s backing of pro-Russian separatists blamed for shooting down Malaysian Airlines Flight MH17 in 2014. It was the first time lawyers for Ukraine and…
By Guy Faulconbridge MOSCOW (Reuters) -A huge Soviet-era dam on the Dnipro River that separates Russian and Ukrainian forces in southern Ukraine was breached on Tuesday, unleashing floodwaters across the war zone. Ukraine said Russia had destroyed it, while Russia said Ukraine sabotaged it to cut off water supplies to Crimea and distract attention from…
By Stephanie van den Berg and Anthony Deutsch THE HAGUE (Reuters) – The Geneva Conventions and its protocols explicitly ban war-time attacks on “installations containing dangerous forces” such as dams due to the risk posed to civilians, a prohibition likely to come into focus after the destruction of a huge Ukrainian dam. Ukraine accused Russia…
By Andrew Osborn (Reuters) -A gaping hole punched in Ukraine’s Nova Kakhovka dam that unleashed a wall of floodwater means that the canal which has traditionally met most of Crimea’s water needs is receiving drastically less water, the Kremlin warned on Tuesday. Russia and Ukraine have blamed each other for the breach at the Russian-controlled…
By Gabriela Baczynska BRUSSELS (Reuters) -European Union countries are expected this week to agree on how to share out the responsibility of hosting refugees and migrants, a top EU official said on Tuesday of what would mark a breakthrough after years of bitter feuds within the bloc. The EU’s migration chief spoke ahead of talks…
By Jason Lange WASHINGTON (Reuters) – Neither President Joe Biden’s Democrats nor Republicans in Congress emerged as a clear winner in the battle to raise the $31.4 trillion debt ceiling, according to a new Reuters/Ipsos poll. The survey, conducted after Congress passed a bipartisan deal to raise the borrowing limit, found that 50% of Americans…
A look at the day ahead in U.S. and global markets from Mike Dolan As world stock markets levelled off on Tuesday, Australia dampened hopes that central banks were set to pause the interest rate rise cycle, the crypto universe nursed its latest blow, and Apple underwhelmed overnight. A relatively quiet week for U.S. macroeconomic…
