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Turkish bourse shuts for five days, cancels trades after earthquake

(Reuters) -Istanbul’s stock exchange operator suspended trading until Feb. 15 and cancelled all Wednesday’s trades in the wake of devastating earthquakes that struck Turkey and Syria on Monday. The tremors rocked Turkey and Syria in the early hours of Monday, with hundreds of buildings collapsing and the combined death toll across both countries climbing above …

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U.S. Treasury’s Yellen: inflation remains elevated but there are encouraging signs

By David Lawder and Kanishka Singh SPRING HILL, Tenn./WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Wednesday that while inflation remained elevated, there were encouraging signs that supply-demand mismatches were easing in many sectors of the economy. “Over the past two years, we have worked successfully to ease supply chain pressures, and that …

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White House says blog post on Nord Stream explosion ‘utterly false’

WASHINGTON (Reuters) -The White House on Wednesday dismissed a blog post by a U.S. investigative journalist alleging the United States was behind explosions of the Nord Stream gas pipelines as “utterly false and complete fiction.” Reuters has not corroborated the report, published by U.S. investigative journalist Seymour Hersh, which said an attack was carried out …

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White House: Biden put Republican lawmakers on defensive over entitlement programs

ABOARD AIR FORCE ONE (Reuters) – U.S. President Joe Biden put Republicans on the defensive over their threats to attack Social Security and Medicare during his State of the Union speech last night, and will continue to call them out on the issue, the White House said on Wednesday. White House press secretary Karine Jean-Pierre …

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Investors focus on buybacks, billionaire tax in Biden speech

By Saqib Iqbal Ahmed and Laura Matthews NEW YORK (Reuters) -U.S. President Joe Biden put taxes and corporate stock buybacks squarely in investors’ focus during Tuesday night’s State of the Union address as part of his push to restructure the world’s largest economy to be less favorable to the very wealthy. Biden, who earlier last …

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Bank of Canada’s first published minutes show job, growth data drove rate hike

By Steve Scherer and David Ljunggren OTTAWA (Reuters) -The Bank of Canada hiked rates last month rather than leaving them unchanged because of labor market tightness and stronger-than-expected growth, according to minutes from the policy-setting meeting released on Wednesday. The minutes suggested the Bank of Canada would likely keep rates unchanged at the next meeting, …

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Fed officials on board with more modest pace of interest rate hikes

By Michael S. Derby and Howard Schneider NEW YORK (Reuters) -Federal Reserve officials on Wednesday said more interest rate rises are in the cards as the U.S. central bank presses forward with its efforts to cool inflation although none were ready to suggest that January’s hot jobs report could push them back to a more …

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In State of the Union speech, Biden challenges Republicans on debt and economy

By Jeff Mason, Nandita Bose and Gram Slattery WASHINGTON (Reuters) -President Joe Biden challenged Republicans to lift the U.S. debt ceiling and support tax policies that were friendlier to middle class Americans on Tuesday in a State of the Union speech that served as a blueprint for his 2024 re-election campaign. Assailing oil companies for …

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Republicans meet Biden’s calls for unity with partisan broadside

By David Morgan WASHINGTON (Reuters) -Republicans rejected Democratic U.S. President Joe Biden’s call for bipartisanship in his State of the Union address on Tuesday, and instead accused him of stoking culture wars in a nation they described as deeply divided. A day after Republican U.S. House Speaker Kevin McCarthy called on Biden to work together …

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Romney tells embattled Republican George Santos he ‘shouldn’t be in Congress’

(This Feb. 7 story has been refiled to restore dropped word “he” to the first sentence) WASHINGTON (Reuters) – U.S. Senator Mitt Romney told embattled fellow Republican Representative George Santos on Tuesday that he should not be in Congress and shouldn’t have taken a central seat at President Joe Biden’s State of the Union address. …

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