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☆ Biden-McCarthy debt ceiling talks to set tone for divided Washington rule
▼ + stars: | 2023-02-01 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +4 min

[1/3] U.S. House Speaker Kevin McCarthy meets with Jordan's King Abdullah II at the U.S. Capitol building in Washington, U.S., January 31, 2023. REUTERS/Leah MillisWASHINGTON, Feb 1 (Reuters) - President Joe Biden and Republican House Speaker Kevin McCarthy are set to discuss the nation's $31.4 trillion debt ceiling on Wednesday, a meeting that will give a first sign of how the two will work together, or fail to, in a divided Washington. House Republicans want to use the debt ceiling as leverage to exact cuts in spending by the federal government, though they have not united around any specific plan to do so. McCarthy, 58, leads a fractious House Republican caucus with a narrow 222-212 majority that has given a small group of hardline conservatives outsized influence. The 2011 crisis was resolved with a bipartisan deal that cut spending and raised the debt limit but left Obama administration officials smarting.

☆ Davos 2023: Global trade rethink: 'race of the big pockets'?
▼ + stars: | 2023-01-19 | by ( Mark John | ) www.reuters.com time to read: +5 min

SummarySummary Companies US climate bill concerns dominate Davos trade talkSome fear "rich-country game" of rising state subsidiesRevamped globalisation must benefit all, Davos toldDAVOS, Switzerland, Jan 19 (Reuters) - The United States pitched its vision of "worker-centric" trade. "I am very concerned," World Trade Organization (WTO) chief Ngozi Okonjo-Iweala told Reuters on the sidelines of the meeting in Davos, Switzerland. Three decades of free global trade have, the International Monetary Fund estimates, lifted more than a billion people out of extreme poverty. The United States notably built into its trade pact with Mexico a mechanism for identifying and dealing with the denial of worker rights. U.S. Trade Representative Tai told a panel on Wednesday the United States wanted to "lead a conversation" on a new version of globalisation.

☆ Russia turns to Japan for used car imports as domestic production slumps
▼ + stars: | 2022-11-03 | by ( Gleb Stolyarov | ) www.reuters.com time to read: +2 min

New car imports were well below February levels in August, data from Russian analytical agency Autostat showed, but those of used cars more than doubled to 23,117 from 11,055. The vast majority, 76%, of used cars were imported from Japan, with Belarus distant second with a 5.3% share, the data showed. Almost 70% of the 10,257 new cars imported in August came from China, the data showed. "One dealership, due to a lack of deliveries of new cars, has pivoted to selling and leasing used cars," the central bank said. In January-September, new car sales were down almost 60% to 506,661 units.

SINGAPORE, Oct 26 (Reuters) - Oil prices eased on Wednesday after industry data showed U.S. crude stockpiles rose more than expected, though supply worries capped losses. Brent crude futures for December fell $1.03, or 1.1%, to $92.49 a barrel by 0635 GMT, after settling 26 cents higher in the previous session. U.S. West Texas Intermediate (WTI) crude futures for December were down 75 cents, or 0.9%, to $84.57, reversing the previous session's gain. While a rise in crude stockpiles reinforced fears of a global recession that would cut demand, ongoing supply constraints kept prices trading in a narrow range. read moreBiden, facing criticism over high inflation, has warned the Saudis would face consequences for aligning with Russia and agreeing to reduce crude supply.

SINGAPORE, Oct 26 (Reuters) - Oil prices eased on Wednesday after industry data showed U.S. crude stockpiles rose more than expected, but losses were capped by supply worries. U.S. West Texas Intermediate (WTI) crude futures for December were down 48 cents, or 0.6%, to $84.84, reversing the previous session's gain. While a rise in crude stockpiles reinforced fears of a global recession that would cut demand, ongoing supply constraints kept prices trading in a narrow range. A firmer dollar dampens demand for oil as it makes crude more expensive for those holding other currencies. read moreBiden, facing criticism over high inflation, has warned the Saudis would face consequences for aligning with Russia and agreeing to reduce crude supply.

☆ Oil falls on build in U.S. crude oil stocks, stronger dollar
▼ + stars: | 2022-10-26 | by ( ) www.cnbc.com time to read: +2 min

Oil prices fell in early trade on Wednesday as the dollar firmed and as industry data showing U.S. crude oil stockpiles rose more than expected reinforced fears of a global recession that would cut demand. U.S. crude inventories rose by about 4.5 million barrels in the week ended Oct. 21, according to market sources citing figures from the American Petroleum Institute, an industry group. However, gasoline inventories fell by about 2.3 million barrels, nearly double the decline that analysts had expected. A firmer dollar dampens demand for oil as it makes crude more expensive for those holding other currencies. U.S. President Joe Biden, worried that gasoline prices will jump ahead of Nov. 8 congressional elections, has warned the Saudis would face consequences for aligning with Russia and agreeing to reduce crude supply.

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