Visiting Ukraine, China’s envoy urged all sides to create space for peace talks

BEIJING (Reuters) – Beijing’s special envoy noted there was no panacea to the war in Ukraine during a visit to Kyiv earlier this week, but urged all parties to create conditions for peace talks, China’s foreign ministry said on Thursday. Special envoy for Eurasian Affairs Li Hui visited Kyiv on Tuesday and Wednesday, where he…

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Explainer-The latest on tax credit rules in Biden’s climate and drugs bill

By Jarrett Renshaw and Philip Blenkinsop (Reuters) – U.S. President Joe Biden’s Inflation Reduction Act (IRA), cheered by some Democrats and the White House as a milestone in the fight against climate change, has also rankled foreign allies and global companies with its economic protectionism and prompted a new subsidy race with Europe. Since the…

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NZ sees bigger deficit as economy sputters, spending boost to fan inflation

By Lucy Craymer WELLINGTON (Reuters) -New Zealand on Thursday announced a worse-than-forecast budget deficit as a slowing economy and a lower tax take hit its coffers, leaving the Labour government walking a tight rope as its spending plan is expected to fan inflationary pressures. In his last budget ahead of what is set to be…

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Prince Harry, Meghan say they were pursued by paparazzi in New York

By Michael Holden and Jonathan Allen LONDON/ NEW YORK (Reuters) -Britain’s Prince Harry, his wife Meghan and her mother were involved in a “near catastrophic” car chase with press photographers after attending an awards ceremony in New York, Harry’s spokesperson said on Wednesday. The incident involved “a ring of highly aggressive paparazzi” in half a…

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Top Australian sporting bodies endorse Indigenous referendum as support dips

By Praveen Menon SYDNEY (Reuters) – Two of Australia’s top football codes on Thursday backed a proposal to constitutionally recognise the country’s Indigenous population in a referendum, as latest opinion polls show public support for the government-backed plan dipping. In a full page statement published in The Sydney Morning Herald, Rugby Australia (RA) said the…

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China’s fiscal revenue growth quickens as economy recovers

BEIJING (Reuters) – China’s fiscal revenue rose 11.9% in the first four months of 2023 from the same period a year earlier, accelerating sharply from a 0.5% rise in January-March, official data showed, as the economy stages a gradual but uneven post-COVID recovery. Fiscal revenue totalled 8.32 trillion yuan ($1.20 trillion)in the first four months…

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Micron to invest $3.7 billion in Japan for new DRAM chips

(Reuters) -Micron Technology Inc said on Wednesday it plans to invest up to 500 billion yen ($3.70 billion) in extreme ultraviolet (EUV) technology over the next few years with support from the Japanese government. The latest extreme ultraviolet lithography (EUV) chipmaking machines will be used to make 1-gamma chips, which can be used for mass…

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In a first, women poised to become mayors of Philadelphia and Jacksonville

By Brendan O’Brien (Reuters) – A Philadelphia Democrat who promised to hire more police has won her party’s nomination for mayor, while a former TV news anchor has ousted a Republican from the mayor’s office in Jacksonville, Florida, the largest city in the country in which the party had control. Democrat Donna Deegan pulled off…

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