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Global stocks fall, U.S. yields rise after strong economic data

By Chibuike Oguh NEW YORK (Reuters) -Global equity markets fell while U.S. Treasury yields rose on Friday following stronger-than-expected economic data that stoked worries the Federal Reserve will prolong its interest rate hiking cycle. Commerce Department data showed that consumer spending, which accounts for two-thirds of U.S. economy activity, rose by 1.8% in January, the …

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U.S. handling of balloon incident ‘hysterical’, says China’s top diplomat

(Reuters) -China’s top diplomat Wang Yi said on Saturday that the U.S. handling of the balloon incident had been “unimaginable” and “hysterical” – an “absurd” act that had violated international norms. “There are so many balloons all over the world, so is the United States going to shoot all of them down?,” Wang, director of …

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Uber says Delhi’s plans to allow only electric bike taxis to impact millions

BENGALURU (Reuters) – Uber Technologies Inc said on Friday plans by the local government in India’s Delhi city to only allow electric vehicles to function as bike taxis would risk “finishing off the sector” and impact the mobility needs of millions. Delhi’s plans, part of a new policy to regulate vehicles used by ride-hailing companies …

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U.S. nominee for top World Bank job gets positive reviews at G20 meeting

By David Lawder and Christian Kraemer BENGALURU (Reuters) – The U.S. nominee to lead the World Bank, ex-Mastercard Chief Executive Ajay Banga, gained traction with leading members on Friday, a sign that he will likely have a smooth ride to confirmation by the global lender’s executive board. The finance ministers of France and Germany gave …

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Take Five: Strap in for no landing

(Reuters) – A raft of U.S. data and European inflation numbers will give guidance on how the world’s top central banks will navigate the way ahead – including whether we’re heading for that hotly debated “no landing” scenario. China’s post Lunar New Year business activity data will give a reading of the health of the …

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U.S. consumer spending posts biggest gain in nearly two years; inflation picks up

By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending increased by the most in nearly two years in January amid a surge in wage gains, while inflation accelerated, adding to financial market fears that the Federal Reserve could continue raising interest rates into summer. The report from the Commerce Department on Friday was the latest …

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