Debt-Limit Deal Clears Congress, Ending Threat of US Default
The Senate passed legislation to suspend the US debt ceiling and impose restraints on government spending through the
2023-06-02 16:52
Palm Oil Production Seen Surging in Malaysia as Workers Return
Palm oil supply in Malaysia is set to soar as a labor crunch eases in the world’s second-biggest
2023-06-02 16:28
Airlines Scour Globe for Capacity as Plane Shortage Takes Toll
The massive aircraft deals announced this year — from Air India’s record 470-plane order in February to newcomer
2023-06-02 16:25
Debt ceiling news - live: Senate passes debt limit deal bill sending it to White House for Biden signature
The Senate has passed a bipartisan agreement forged by US president Joe Biden and House speaker Kevin McCarthy to raise the $31.4 trillion US debt ceiling after the deal survived a Republican rebellion in the House of Representatives. The Fiscal Responsibility Act, which will also implement new federal spending cuts, cleared the lower chamber with 314 votes in favour and 117 against on Wednesday night. The narrowness of its passage through the House was made possible through the support of Democrats, who stepped in to thwart a Republican rebellion that badly undermined Speaker McCarthy’s claims to control over his increasingly divided party. On Thursday, the Senate rejected 11 proposed amendments before passing the bill 63 for to 36 against. Senate majority leader Chuck Schumer will now send the bill to President Biden’s desk for his signature. Full congressional approval was required before Monday 5 June, when the Treasury Department was expected to run out of funds to pay its debts for the first time in American history. Read More Underestimated McCarthy emerges from debt deal empowered as speaker, still threatened by far right Lauren Boebert didn’t turn up to vote on debt ceiling deal she furiously campaigned against What’s next for Biden-McCarthy debt ceiling deal as Senate races to beat default deadline?
2023-06-02 16:22
UK House Prices Are Falling Again — And There’s More Pain Ahead
The UK housing market is sputtering again, with economists predicting that the downturn has further to run as
2023-06-02 15:49
SBB’s Embattled CEO Faces Tough Sell After London Investor Pitch
The property tycoon at the center of Sweden’s real estate crisis traveled to the City of London this
2023-06-02 15:27
Erdogan Picks Market Darling Simsek to Return as Turkey's Finance Chief
Turkish President Recep Tayyip Erdogan will appoint Mehmet Simsek as his new treasury and finance minister, bringing back
2023-06-02 14:58
EQT Nears Deal for Vet Drugmaker Dechra Pharmaceuticals
EQT AB agreed to buy Dechra Pharmaceuticals Plc for about £4.46 billion ($5.6 billion), negotiating a lower price
2023-06-02 14:48
Kinnock Tells Starmer He Can Lead UK Alone, Without Coalition
Former Labour leader Neil Kinnock dismissed the chances of the party being forced into a coalition after the
2023-06-02 13:22
All Eyes on US, China as Shangri-La Defense Forum Starts
Defense officials from around the world arrived in Singapore Friday, with US-China tensions over Taiwan, chip curbs and
2023-06-02 12:59
Korean Won Won’t Recover to Pre-Pandemic Levels, BOK Member Says
The won isn’t likely to strengthen to pre-pandemic levels, given structural changes including heightened geopolitical competition, an aging
2023-06-02 12:25
China Stocks Rebound as Fed Concerns Ease, Dip-Buyers Emerge
Chinese stocks staged a sharp rebound as signs that the Federal Reserve is close to the end of
2023-06-02 12:20