Explainer-U.S. debt ceiling focus on ‘discretionary spending’ means cuts ahead

By Jarrett Renshaw and Andy Sullivan WASHINGTON (Reuters) -The central pillar of any debt-ceiling agreement between President Joe Biden and House Republican Kevin McCarthy is shaping up to be “discretionary spending” – the chunk of the United States’ roughly $6 trillion annual federal budget that is set annually by Congress. Talks are fluid as Biden…

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German police search 15 locations over Last Generation climate protests

By Riham Alkousaa BERLIN, Germany (Reuters) -German authorities on Wednesday searched 15 properties nationwide in an investigation into protests by Last Generation climate activists who have caused large-scale disruption by gluing themselves to roads and blocking rush-hour traffic. Amid the protests in recent months, Berlin’s ruling coalition, including the environmentalist Greens, has been arguing over…

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Analysis-EU power battle risks denting planned safeguards for financial products

By Huw Jones LONDON (Reuters) – European Union plans to increase protections for consumers of financial services are reigniting a long-simmering power battle between national and EU regulators that could hamper how the tougher safeguards will be enforced. The European Commission, the EU’s executive body, on Wednesday proposed stricter rules on selling financial products, such…

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Russia, China seal economic pacts amid Western criticism

By Andrew Hayley BEIJING (Reuters) -Russia’s prime minister signed a set of agreements with China on Wednesday during a trip to Beijing, describing bilateral ties at an unprecedented high, despite criticism of their relationship in the West as the war in Ukraine drags on. Prime Minister Mikhail Mishustin, the highest-ranking Russian official to visit Beijing…

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