By Steve Holland and Jarrett Renshaw WASHINGTON (Reuters) – U.S. President Joe Biden and House Republican Speaker Kevin McCarthy on Saturday reached an agreement in principle to lift the debt ceiling that would trim some U.S. federal spending. While the bill is still being written, the general contours of the deal have been described by…
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” negotiations on an agreement to make supply chains more resilient and secure, U.S. Commerce Secretary Gina Raimondo said on Saturday. The “first of its kind” agreement calls for countries to form a council to…
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 Economic Framework talks…
By Steve Holland, Moira Warburton and Rami Ayyub WASHINGTON (Reuters) -Democratic President Joe Biden and a Republican negotiator said on Friday they were working on a deal to raise the U.S. government’s $31.4 trillion debt ceiling after the Treasury Department warned that a June 5 default loomed without action. The two sides have been negotiating…
WARSAW (Reuters) – Poland plans to raise the minimum wage twice in 2024 to help people cope with high inflation, Family and Social Policy Minister Marlena Malag said, as the ruling Law and Justice (PiS) party prepares for a parliamentary election later this year. The cost of living has been growing significantly in recent months,…
BEIJING (Reuters) – China and South Korea have agreed to strengthen dialogue and cooperation on semiconductor industry supply chains, amid broader global concerns over chip supplies, sanctions and national security, China’s commerce minister said. Wang Wentao met with South Korean Trade Minister Ahn Duk-geun on the sidelines of the Asia-Pacific Economic Cooperation (APEC) conference…
BEIJING (Reuters) – Economic and trade development in the Asia-Pacific still faces many disturbances and challenges, China’s commerce minister Wang Wentao said. Wang made the comments at the Asia-Pacific Economic Cooperation (APEC) conference in Detroit, where he met with several leaders and exchanged views on multilateral and bilateral economic and trade issues amid wider global…
KUALA LUMPUR (Reuters) – Malaysia’s state oil firm Petronas said it had given its full cooperation to the country’s anti-graft agency in an investigation into the firm’s award of a contract to a Malaysian subsidiary of an international oil company in 2021. The investigation by the Malaysian Anti-Corruption Commission “had not found any wrongdoing by…
By Laura Sanicola (Reuters) -The U.S. Department of Justice is investigating a California unit of oil refiner PBF Energy Inc over a November emissions release, the company said. PBF Energy’s Martinez refinery emitted a “powdery substance” later determined to be spent catalysts used in the refining process last Nov. 24 and 25 and had…
