By David Morgan WASHINGTON (Reuters) – President Joe Biden and top Republicans and Democrats from Congress are set to sit down this week to try to resolve a three-month standoff over the $31.4 trillion U.S. debt ceiling and avoid a crippling default before the end of May. The Democratic president is calling on lawmakers to…
By Victoria Waldersee BERLIN (Reuters) – Chinese investment in Europe is shifting from mergers and acquisitions to greenfield projects mainly in battery production for electric vehicles, according to 2022 data analysed by independent research providers MERICS and Rhodium Group. Greenfield investment made up 57% of total foreign direct investment by China in Europe in 2022,…
By Brendan Pierson (Reuters) – A group of abortion providers on Monday filed a lawsuit aiming to preserve access to the abortion pill mifepristone as anti-abortion opponents aim to ban it in a separate case. The lawsuit, filed in federal court in Charlottesville, Virginia, is similar to one filed in Spokane, Washington by the Democratic…
By Andrea Shalal and David Lawder WASHINGTON (Reuters) – Treasury Secretary Janet Yellen said on Monday that a failure by Congress to raise the $31.4 trillion federal debt limit would cause a huge hit to the U.S. economy and weaken the dollar as the world’s reserve currency. Asked whether the U.S. Treasury could prioritize payouts…
By Daniel Wiessner (Reuters) – A union for U.S. federal government employees filed a lawsuit on Monday claiming a law setting a $31.4 trillion debt ceiling is unconstitutional as political leaders seek to avoid a historic default expected as soon as next month. The National Association of Government Employees (NAGE) says the debt limit law…
(Reuters) – Russia launched its biggest swarm of drones for months against Ukraine on the eve of Russia’s May 9 holiday celebrating the defeat of Nazi Germany in 1945, striking the capital Kyiv, the Black Sea city of Odesa and shelling other cities. CONFLICT * In a new break with Moscow, Ukraine marked the anniversary…
By Marianna Parraga HOUSTON (Reuters) – A U.S. court of appeals has granted Venezuela a temporary stay preventing six companies from joining a proposed court auction of shares in a Citgo Petroleum parent to enforce judgments for past expropriation of assets. Since March, creditors including a unit of O-I Glass, Huntington Ingalls Industries, ACL1 Investments,…
WASHINGTON (Reuters) -The U.S. Senate Commerce Committee on Wednesday will vote on sweeping bipartisan rail safety legislation prompted by a Norfolk Southern-operated train derailment on Feb. 3 in Ohio. Committee Chair Maria Cantwell, a Democrat, said the legislation will mandate the use of technology that can identify equipment failures, prevents cursory railcar inspections, and ensures…
By Andrea Shalal WASHINGTON (Reuters) – Treasury Secretary Janet Yellen is reaching out to U.S. business and financial leaders to explain the “catastrophic” impact a U.S. default on its debt would have on the U.S. and global economies, two sources familiar with the matter said on Monday. The Treasury secretary is having one-on-one conversations with…
By Patricia Zengerle WASHINGTON (Reuters) -The Republican chairman of the U.S. House of Representatives Foreign Affairs Committee threatened Secretary of State Antony Blinken with contempt of Congress if he does not comply with a subpoena seeking a classified cable related to the August 2021 U.S. withdrawal from Afghanistan. In a letter to Blinken dated Friday…
