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U.S. could face debt-ceiling crisis this summer without deal, CBO warns

By David Lawder and Richard Cowan WASHINGTON (Reuters) -The Congressional Budget Office on Wednesday said the U.S. Treasury Department will exhaust its ability to pay all its bills sometime between July and September, unless the current $31.4 trillion cap on borrowing is raised or suspended. In a report issued alongside its annual budget outlook, the …

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S&P 500 ends higher after strong retail sales data

By Johann M Cherian and Noel Randewich (Reuters) – The S&P 500 ended higher on Wednesday after stronger-than-expected retail sales data offered evidence of resilience in the U.S. economy, but gains were capped as investors worried about more interest rate hikes by Federal Reserve in the months ahead. A Commerce Department report showed retail sales …

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Tesla to open U.S. charging network to rivals in $7.5 billion federal program

By Hyunjoo Jin and Jarrett Renshaw SAN FRANCISCO (Reuters) -Tesla Inc will open part of its U.S. charging network to electric vehicles (EVs) made by rivals as part of a $7.5 billion federal program to expand the use of EVs and cut carbon emissions. The move could help turn Tesla into the universal “filling station” …

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Indian shares rise as beaten-down IT stocks recover

BENGALURU (Reuters) -Indian shares overcame a lacklustre start to close higher on Wednesday, with the benchmark Nifty reclaiming the 18,000 mark after three weeks, helped by a recovery in IT stocks and as the return of foreign investors continued. The Nifty 50 index closed 0.48% higher at 18,015.85, while the S&P BSE Sensex rose 0.40% …

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China says U.S. balloons flew over Xinjiang, Tibet, warns of countermeasures

By Liz Lee BEIJING (Reuters) – Diplomatic friction festered between the United States and China on Wednesday as Beijing charged that U.S. high altitude balloons flew over its Xinjiang and Tibet regions and said it would take measures against U.S. entities that undermine Chinese sovereignty. Washington and Beijing are locked in a tussle over flying …

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NATO countries boost munitions output, pledge 48 Leopard 2 tanks for Kyiv

By Sabine Siebold and Bart H. Meijer BRUSSELS (Reuters) – NATO countries are ramping up production of artillery munitions as Ukraine is burning through shells much faster than the West can make them, the alliance said on Wednesday amid pledges to deliver at least 48 Leopard 2 tanks to Kyiv. “Things are happening, but … …

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Nikki Haley swipes at ‘faded names’ in bid for Republican 2024 nomination

By Gram Slattery CHARLESTON, S.C. (Reuters) -Former U.N. ambassador Nikki Haley called on Republicans to move on from “stale ideas” and “faded names,” a veiled swipe at her former boss Donald Trump, as she made her first stop on Wednesday in a campaign for the 2024 presidential nomination. The former South Carolina governor is just …

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Biden takes aim at Republican spending cuts plan

By Andrea Shalal LANHAM, Maryland (Reuters) – President Joe Biden, armed with a new team of economic advisers, took aim on Wednesday at Republican plans to cut U.S. spending as his administration gears up for a huge fight to preserve the outlays he credits with fueling an American recovery. At issue is Republicans’ refusal to …

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UK’s Labour has taken steps to drive out anti-Semitism, watchdog says

LONDON (Reuters) -Britain’s opposition Labour Party has made sufficient changes over the last two years to rid its ranks of anti-Semitism, the equalities watchdog said on Wednesday, as leader Keir Starmer pledged zero tolerance of discrimination. Labour, which polls indicate has a strong chance of forming Britain’s next government after an election expected in 2024, …

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Trailblazing U.S. Senator Dianne Feinstein will not seek re-election

By Moira Warburton WASHINGTON (Reuters) -U.S. Senator Dianne Feinstein, a trailblazer for women in American politics, announced on Tuesday that she will not seek re-election in 2024, clearing the path for a hotly contested race for her seat among California Democrats. First elected to the Senate in 1992, Feinstein is the oldest member of Congress …

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