By Steve Holland, Moira Warburton and Rami Ayyub WASHINGTON (Reuters) -Democratic President Joe Biden and a lead Republican negotiator said on Friday they were hopeful that a deal was near 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. “Things are looking…
By David Lawder DETROIT (Reuters) – Trade ministers from the Asia Pacific Economic Cooperation (APEC) countries agreed on Friday to promote more inclusive and sustainable trade, but failed to produce a joint statement due to Russia and China’s objections to language on Ukraine. Closing out two days of talks in Detroit, the APEC host, U.S….
By David Lawder DETROIT (Reuters) -U.S. Trade Representative Katherine Tai raised complaints about China’s state-led economic policies during a meeting on Friday with Chinese Commerce Minister Wang Wentao, who objected to U.S. tariffs and trade policies, their offices said. But statements from the U.S. Trade Representative’s office and China’s Commerce Ministry both emphasized the need…
By Blake Brittain (Reuters) – Alphabet Inc’s Google must pay $32.5 million in damages for infringing one of smart-speaker maker Sonos Inc’s patents in its wireless audio devices, a San Francisco federal jury decided on Friday. The case is part of a sprawling intellectual property dispute between the former collaborators that includes other lawsuits in…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Friday extended the deadline for raising the federal debt limit, saying the government would default on its obligations if Congress does not increase the country’s $31.4 trillion debt ceiling by June 5. Yellen had previously said a default could happen potentially as early as June 1….
(Reuters) – U.S. energy company Equitrans Midstream Corp’s long-delayed $6.6 billion Mountain Valley natural gas pipeline from West Virginia to Virginia received another negative court ruling on Friday. The U.S. Court of Appeals for the District of Columbia Circuit ruled the U.S. Federal Energy Regulatory Commission (FERC) “inadequately explained its decision not to prepare a…
By David Lawder DETROIT (Reuters) -The International Monetary Fund said on Friday U.S. interest rates will likely need to remain higher for longer to tame inflation, and Washington needs to tighten fiscal policy to bring down its federal debt. The IMF said in a statement issued after its “Article IV” review of U.S. policies that…
By Simon Jessop and Marc Jones LONDON (Reuters) – A top-level meeting in Paris next month will lay out a $100 billion plan to drive more money into climate and development finance in poorer countries by providing currency guarantees to investors, according to a document seen by Reuters. The plan, which has not previously been…
By Shivansh Tiwary and David Shepardson (Reuters) – Ford Motor Co shares jumped by more than 7% on Friday after the No. 2 U.S. automaker announced a deal allowing its owners to gain access to rival Tesla Inc charging stations in North America. Ford CEO Jim Farley told CNBC on Friday that Tesla’s Superchargers could…
By Chris Prentice and Huw Jones NEW YORK/LONDON (Reuters) – Wall Street and European shares rose on Friday as the White House and congressional Republicans worked on the final touches on a U.S. debt ceiling deal. Treasury yields rose as investors rethought how long interest rates were likely to keep rising. [US/] The MSCI world…
