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Factbox-What’s in the debt ceiling deal struck by Biden and McCarthy?

WASHINGTON (Reuters) – The U.S. Senate is debating a bill brokered by President Joe Biden and House Speaker Kevin McCarthy that lifts the government’s $31.4 trillion debt ceiling while imposing spending caps and cuts on Biden’s plan to boost funding for the IRS to audit wealthy Americans, among other things. The Republican-controlled House of Representatives …

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Global equities rise, U.S. yields fall after debt ceiling bill advances

By Chibuike Oguh NEW YORK (Reuters) – Global equities rose on Thursday after the U.S. House of Representatives passed a bill to raise the federal debt ceiling, while U.S. Treasury yields fell as data reflected a cooling labor market that reduces the possibility of an interest rate hike by the Federal Reserve.A bill that suspends …

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Dollar stumbles as signs point to Fed skipping June rate hike

By Hannah Lang (Reuters) – The dollar was on track for its worst daily loss in nearly a month on Thursday as U.S. manufacturing data and comments by Federal Reserve officials reinforced expectations the Federal Reserve will likely skip an interest rate hike at its upcoming meeting. The euro recovered from a two-month low on …

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US imposes sanctions on companies tied to Sudan forces as fighting rages

KHARTOUM/WASHINGTON (Reuters) -The United States on Thursday imposed sanctions on companies it accused of fuelling the conflict in Sudan, stepping up pressure on the army and a rival paramilitary force to stop fighting raging in Khartoum and other regions. The U.S. Treasury Department said it targeted two companies linked to the army, including the country’s …

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BRICS ministers put on show of strength as Putin arrest warrant looms large

By Wendell Roelf CAPE TOWN (Reuters) -BRICS foreign ministers on Thursday asserted their bloc’s ambition to rival Western powers but their talks in South Africa were overshadowed by questions over whether Russia’s president would be arrested if he attended a summit in August. South Africa’s foreign minister Naledi Pandor said her country was mulling options …

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Oil rises 3% on US debt ceiling progress, traders on alert for OPEC+ meeting

By Shariq Khan BENGALURU (Reuters) -Oil prices rose on Thursday by the most in two weeks ahead of an OPEC+ meeting on Sunday, while House of Representatives passage of a bill to suspend the U.S. debt ceiling helped to offset the impact of rising inventories in the country. U.S. West Texas Intermediate crude (WTI) rose …

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UK government refuses to hand over WhatsApp messages to COVID inquiry

By Sachin Ravikumar and Alistair Smout LONDON (Reuters) – British Prime Minister Rishi Sunak’s government on Thursday said it would not hand over internal WhatsApp messages requested by a public inquiry into its handling of the COVID-19 pandemic and instead seek a legal challenge against the demand. The inquiry, ordered by the government itself in …

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UK factory output contracts again in May: PMI

By Suban Abdulla LONDON (Reuters) – Britain’s manufacturing output fell for a third month in a row in May and new orders declined at the fastest pace in four, but there were signs that the worst of the inflation surge may have passed, an industry survey showed on Thursday. The final reading of the S&P …

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Prosecutors say items secured in Madeleine McCann search to be examined

BERLIN (Reuters) – German prosecutors said on Thursday they had secured some items during a search of a reservoir in Portugal in the 16-year-old hunt for missing British girl Madeleine McCann which they would evaluate in coming days and weeks. German authorities, who have named a suspect in the case, last week helped Portuguese crews …

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London stocks start month strong as miners, energy firms rise

By Johann M Cherian and Shashwat Chauhan (Reuters) – British equities gained in a broader market rally on Thursday with higher metal prices supporting miners, while progress on the bill to lift the U.S. debt ceiling further spurred risk appetite. The internationally-focused FTSE 100 gained 0.6% as the U.S. debt ceiling bill successfully passed through …

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