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[1/6] U.S. Treasury Secretary Janet Yellen arrives at Beijing Capital International Airport in Beijing, China, Thursday, July 6, 2023. Both sides are sceptical that Yellen's visit will be able to take much heat out of U.S.-China ties, however, with officials accepting that both countries have placed safeguarding national security above economic ties. Yellen will address "unfair" practices by China, including recent punitive actions against U.S. firms and market access barriers, the official added. On Friday she will meet China's Premier Li Qiang and former economy tsar Liu He, who is widely seen as a close confidant of President Xi Jinping. They come ahead of a possible meeting between President Joe Biden and Xi at the Asia-Pacific Economic Cooperation gathering scheduled for November in San Francisco.

Persons: Janet Yellen, Mark Schiefelbein, Yellen, Nicholas Burns, Li Qiang, Liu He, Xi Jinping, Wang Huiyao, Yellen's, Zhu Feng, Xie Feng, Trump, Wu Xinbo, Antony Blinken, Joe Biden, Xi, Yew Lun Tian, Andrea Shalal, Joe Cash, Clarence Fernandez Organizations: . Treasury, Beijing Capital International Airport, REUTERS, U.S, Center for, Nanjing University, Global Times, Fudan University, Economic Cooperation, Thomson Locations: Beijing, China, REUTERS BEIJING, U.S, Center for China, United States, Russia, Washington, Asia, San Francisco

☆ Yellen's China visit aims at 'new normal' with Beijing
▼ + stars: | 2023-07-05 | by ( Andrea Shalal | ) www.reuters.com time to read: +6 min

Chinese officials are concerned about the Biden administration's plans to limit U.S. companies' China investments and what they see as moves to decouple the two economies. "There is no substitute for diplomacy," said one senior administration official. "Secretary Yellen’s trip is more than a step toward preparation for a potential Biden-Xi meeting at APEC. Despite the cooling relations, trade between the U.S. and China grew in 2022 for the third year in a row, U.S. Commerce Department data show. Two other Cabinet secretaries, Commerce chief Raimondo and U.S. Trade Representative Katherine Tai, met in May with Chinese Commerce Minister Wang Wentao.

Persons: Janet Yellen's, Biden, COVID lockdowns, Antony Blinken, Xi Jinping, Wu Xinbo, Yellen's, Gina Raimondo, Derek Scissors, Yellen, Russia's Wagner, Joe Biden, Xi, Scott Kennedy, Jake Colvin, Donald Trump, Colvin, Lifeng, Liu He, Raimondo, Katherine Tai, Wang Wentao, Andrea Shalal, Michael Martina, Lun Tian Yew, Dan Burns, Heather Timmons, Andrea Ricci Organizations: . Treasury, China's Fudan University, American Enterprise Institute, U.S, Economic Cooperation, Biden, APEC, Center for Strategic, International Studies, Foreign Trade, . Commerce Department, Treasury, . Trade, Chinese Commerce, Thomson Locations: China, Russia, U.S, Beijing, Ukraine, United States, Asia, San Francisco, Washington, Zurich, Wang Wentao .

☆ Treasury's Yellen to visit China this week to expand communications
▼ + stars: | 2023-07-03 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

China protested loudly when Biden subsequently referred to Xi as a "dictator," but analysts say the remark had little impact on efforts to improve ties. "We seek a healthy economic relationship with China, one that fosters growth and innovation in both countries," the official said. The official, speaking on condition of anonymity, declined to give details on which Chinese officials Yellen would meet in Beijing. A second administration official told Reuters that Yellen was expected to meet the Chinese Vice Premier He Lifeng. Yellen would underscore Washington's determination to strengthen its own competitiveness while responding with allies to what Washington calls "economic coercion" and unfair economic practices by China, the first official said.

Persons: Janet Yellen, Joe Biden, Antony Blinken, Xi Jinping, Biden, Xi, Yellen, Andrea Shalal, Ross Colvin, Nick Zieminski Organizations: . Treasury, Treasury, Washington, Reuters, Micron Technology, Thomson Locations: Beijing, China, U.S

Thwarted by the conservative-leaning court, Biden told reporters that his administration would pursue student loan relief through a different avenue, the Higher Education Act. In a 6-3 decision earlier on Friday, the Supreme Court blocked Biden's plan to cancel $430 billion in student loan debt. "I believe the court's decision to strike down my student debt relief program was a mistake, was wrong. About 53% of Americans supported Biden's original student loan forgiveness program, while 81% of Democrats did so, a Reuters/Ipsos poll showed this year. "Americans saw right through this desperate vote grab, and we are thankful that the Supreme Court did as well."

Persons: Joe Biden, Biden, I'm, Leah Millis, Elizabeth Warren, Democrat Alexandria Ocasio, Cortez, Miguel Cardona, “, Ronna McDaniel, Steve Holland, Jeff Mason, Rami Ayyub, Andrea Shalal, Trevor Hunnicutt, Timothy Ahmann, Jonathan Oatis, Matthew Lewis Organizations: U.S, Supreme, Higher, The Education Department, Republicans, Democratic, Education Department, Progressive, White, REUTERS, Twitter, Democrat, Reuters, Republican, Education, Republican National Committee, Thomson Locations: Washington , U.S, Washington

Biden told reporters at the White House that his administration would pursue student loan relief through the Higher Education Act. In the 6-3 decision earlier Friday, the Supreme Court blocked Biden's plan to cancel $430 billion in student loan debt. Biden said he would find another way to make good on his promises to help people struggling with student loan debt. The White House made clear it would be putting blame on Republicans for stymieing student-loan relief efforts. “Biden's student loan bailout unfairly punished Americans who already paid off their loans, saved for college, or made a different career choice," Republican National Committee (RNC) Chairwoman Ronna McDaniel said in a statement.

Persons: Joe Biden, Read, Biden, Elizabeth Warren, they've, Warren, Democrat Alexandria Ocasio, Cortez, “, Ronna McDaniel, Steve Holland, Jeff Mason, Rami Ayyub, Andrea Shalal, Timothy Ahmann, Jonathan Oatis, Matthew Lewis Organizations: U.S, Harvard University, University of North, White, Supreme, Higher, Republicans, Democratic, Progressive, Twitter, Democrat, Republican, Republican National Committee, Thomson Locations: U.S ., University of North Carolina, Washington , U.S, WASHINGTON, Washington

LONDON/NEW YORK/HONG KONG (Reuters) -For hedge funds, the second half of 2023 is all about pouncing on the ways in which inflation, aggressive rate hikes and decarbonisation are shaping the economy. Five prominent funds shared their ideas using five different asset classes to trade on this uncertainty. The ideas do not represent recommendations or trading positions, which hedge funds cannot reveal for regulatory reasons. 1/ UBS O’CONNOR* Alternatives platform, with both hedge funds and credit* Size: $9.5 billion* Established in 2000* Key trade: Long so-called “busted” convertible bonds, or hybrid securities where the stock trades below its option conversion price. Seminara favored long positions in investment grade bonds and shorting high yield ones via the iTraxx Europe and iTraxx crossover indices.

Persons: Brendan McDermid, Casey Talbot, Alpha, ” Talbot, Byron Gill, Howard Smith, Anastasia Tarasova, Tarasova, Andrea Seminara, ”, Seminara, CRAWFORD, ERIC STURDZA, Eric Sturdza, Chris Crawford, Biden, “ They’re, Crawford Organizations: Reuters, Traders, New York Stock Exchange, REUTERS, UBS, UBS O’Connor, Companies, Indus Capital Partners, Capital, Federal, Redhedge, Asset Management, European Central Bank, ECB, Eric Sturdza Investments, Fund Management, Crawford Fund Management Locations: HONG KONG, New York City, U.S, Asia, Ukraine, Europe

WASHINGTON, June 29 (Reuters) - The International Monetary Fund's executive board on Thursday completed its first review of Ukraine's $15.6 billion loan program, allowing Kyiv to immediately withdraw $890 million for budget support as it mounts a major offensive against Russia's invasion. The IMF said Ukrainian authorities have made "strong progress" toward meeting reform commitments under "challenging conditions," meeting quantitative performance criteria through April and structural benchmarks through June. IMF Ukraine mission chief Gavin Gray told reporters the IMF is continuing to study the social, environmental and economic impacts of the destruction of the Kakhovka Dam earlier this month, which caused widespread flooding in southern Ukraine. The IMF expects to carry out its next review of Ukraine's program in late November or early December, the official added. Gray said Ukrainian authorities also needed to continue work on strengthening governance and fighting corruption, with new legislation passed by the end of September.

Persons: Kristalina Georgieva, Georgieva, Gavin Gray, Gray, David Lawder, Andrea Shalal, Leslie Adler, Deepa Babington, Richard Chang Organizations: Monetary Fund's, IMF, Thomson Locations: Kyiv, Ukraine, IMF Ukraine

☆ Red Bull ready for a celebration at scenic Spielberg
▼ + stars: | 2023-06-28 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

Verstappen already has four wins at the scenic circuit, having also won the 2021 Styrian Grand Prix. I think this year’s event will be maybe the biggest event they’ve ever put on." Of the 19 races since then Red Bull have won 18 and Mercedes one. "At the start of the season, we realized the car needed a fundamental redesign," he said in Montreal. "This track is another one that should suit our car more than some other circuits," said the Thai.

Persons: Bull, Dietrich Mateschitz, Max Verstappen, Red, Spielberg, Alain Prost, Verstappen, Christian Horner, it’s, Sergio Perez, Ferrari's Charles Leclerc, Perez, Mercedes, George Russell, Ferrari, Leclerc, Red Bull, Lewis Hamilton, Aston Martin's Fernando Alonso, Andrea Stella, That's, Williams, Alex Albon, Alan Baldwin, Christian Radnedge Organizations: Formula One, Austrian, Prix, McLaren, Renault, Silverstone, Thomson Locations: Austria, Canada, Baku, Hungary, Montreal, London

McKinsey says generative AI could add $7.3 trillion in value to the world economy each year and believes half of today's work activities could be automated between 2030 and 2060. The latest Bank of America survey in June showed 29% of global investors don't expect AI to increase profits or jobs. "There's a lot of focus on the risks that generative AI can bring. He sounded confident over the capacity of some professional information and data providers, which own proprietary data, to integrate generative AI into their products. Cristina Matti, small and midcaps portfolio manager at Amundi, said indiscriminate investing was not an option for investors seeking AI exposure.

Persons: Gilles Guibout, UK's Pearson, Chegg, Pearson, Thomas McGarrity, Andrea Scauri, Scauri, Capgemini, Cristina Matti, Danilo Masoni, Lucy Raitano, Chizu Organizations: Nvidia, McKinsey, AXA Investment, Bank of America, Microsoft, RBC Wealth Management, Accenture, Thomson Locations: MILAN, Europe, United States, Paris, Lemanik, Amundi

Asked on June 2 about Ukraine's aspirations to join NATO, Kremlin spokesman Dmitry Peskov said it "would be a potential problem for many, many years." Hanging over the deliberations is the question of whether alliance members can show unity by forging agreements ahead of the July 11-12 summit in the Lithuanian capital. But all agree on the need to further boost Ukraine's security between now and the day it joins NATO. Gabrielle Tarini, co-author of a new RAND Corporation report on Ukraine reconstruction, said that until Ukraine can join NATO the alliance needs to explore such measures. NATO will bolster a program of non-lethal aid for Ukraine's security forces to help them transition from Soviet-era to NATO standards, he said.

Persons: Volodymyr Zelenskiy, NATO Julianne Smith, Smith, Dmitry Peskov, Vladimir Putin, Ukraine's, Putin, Jens Stoltenberg, Stoltenberg, Emmanuel Macron, Gabrielle Tarini, Jonathan Landay, Andrew Gray, Humeyra Pamuk, Andrea Shalal, John Irish, Don Durfee, Grant McCool Organizations: NATO, Russian, Atlantic Treaty Organization, Kyiv, Kremlin, Ukraine, U.S . National Security, Diplomats, RAND Corporation, Ukraine Council, Thomson Locations: Ukraine, Vilnius, U.S, Germany, Russia, Europe, Lithuanian, Eastern, Poland, United States, Israel, Russian, Kyiv, Washington, Paris

☆ Biden hosts Jennifer Hudson, Wu-Tang's Method Man at Juneteenth concert
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

[1/2] Method Man (C) and Streetlife (R) of rap band Wu-Tang Clan perform at the Montreux Jazz Festival July 18, 2007. REUTERS/Denis Balibouse (SWITZERLAND)/File PhotoWASHINGTON, June 13 (Reuters) - President Joe Biden on Tuesday evening is hosting the White House's first big Juneteenth celebration, a concert featuring performances by Oscar-winning singer Jennifer Hudson, hip-hop group Wu-Tang Clan's Method Man and marching bands from Tennessee and Maryland. Biden will address guests at the South Lawn event at 7:00 pm EDT (2300 GMT), which the White House has described as a "celebration of community, culture and music." Biden will welcome "community leaders, lawmakers, students educators and hundreds of others to the White House for a historic Juneteenth celebration," White House press secretary Karine Jean-Pierre said. U.S. presidents dating back to George W. Bush have marked Juneteenth from the White House, often with a somber statement.

Persons: Wu, Tang Clan, Denis Balibouse, Joe Biden, Oscar, Jennifer Hudson, Tang, Biden, Ledisi, Karine Jean, Pierre said, Abraham Lincoln's, George W, Bush, Andrea Shalal, Heather Timmons, Leslie Adler, Bill Berkrot Organizations: Montreux Jazz, REUTERS, WASHINGTON, White, Thomson Locations: SWITZERLAND, Tennessee, Maryland, Texas, Washington

☆ Biden to host Jennifer Hudson, Wu-Tang's Method Man at Juneteenth concert
▼ + stars: | 2023-06-13 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

[1/2] Method Man (C) and Streetlife (R) of rap band Wu-Tang Clan perform at the Montreux Jazz Festival July 18, 2007. REUTERS/Denis Balibouse (SWITZERLAND)/File PhotoWASHINGTON, June 13 (Reuters) - President Joe Biden will host the White House's first big Juneteenth celebration, a concert featuring performances by Oscar-winning singer Jennifer Hudson, hip-hop group Wu-Tang Clan's Method Man and marching bands from historically black universities in Tennessee and Maryland. Other performers include dance group Step Afrika!, singer Ledisi, choirs from more historically black colleges and universities, and a Broadway choir. Biden declared Juneteenth - a portmanteau of June and 19th, also known as Emancipation Day - a federal holiday in 2021. U.S. presidents dating back to George W. Bush have marked Juneteenth from the White House, often with a somber statement.

Persons: Wu, Tang Clan, Denis Balibouse, Joe Biden, Oscar, Jennifer Hudson, Tang, Kamala Harris, Biden, Ledisi, Karine Jean, Pierre, it's, Juneteenth, Abraham Lincoln's, George W, Bush, Andrea Shalal, Heather Timmons, Leslie Adler, Bill Berkrot Organizations: Montreux Jazz, REUTERS, WASHINGTON, White, Morgan State University, Tennessee State University, Thomson Locations: SWITZERLAND, Tennessee, Maryland, Baltimore, Nashville, Texas, Washington

☆ White House to review ruling that press secretary violated act on political activity
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, June 13 (Reuters) - White House press secretary Karine Jean-Pierre said on Tuesday that White House lawyers would review a ruling from a government agency that said she had violated a law limiting political activity by federal employees. The Office of Special Counsel on Monday announced that Jean-Pierre had violating the Hatch Act by referring to "mega MAGA Republicans" in talking to reporters last year. Asked at her daily briefing on Tuesday about the ruling, Jean-Pierre said she had used language given to her by White House officials. She said the previous Donald Trump administration had frequently referred to "MAGA Republicans." Jean-Pierre said White House lawyers would be in touch with the Office of Special Counsel to review the ruling.

Persons: Karine Jean, Pierre, Jean, Jean ‐ Pierre, Donald Trump, MAGA, White, Andrea Shalal, Steve Holland, Leslie Adler Organizations: White House, White, Monday, Republicans, Thomson

☆ White House: US shared concerns with Cuba about hosting China spy base
▼ + stars: | 2023-06-12 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +1 min

WASHINGTON, June 12 (Reuters) - The United States has made its concerns known to the Cuban government about Cuba hosting Chinese spy operations on its territory, White House spokesperson John Kirby said on Monday. Kirby said the bilateral relationship with China was tense at the moment, but President Joe Biden was committed to keeping the lines of communication open. He told a White House briefing that he would not expect recent reports about a Chinese spy base in Cuba to affect a planned visit by Secretary of State Antony Blinken to China later this week. The Wall Street Journal last week quoted U.S. officials as saying a new Chinese spying effort was underway on Cuba. China on Monday denied it was using Cuba as a spying base.

Persons: John Kirby, Kirby, Joe Biden, Antony Blinken, nothing's, Blinken, Biden, Trevor Hunnicutt, Jeff Mason, Andrea Shalal, Jonathan Oatis Organizations: United, White, Thomson Locations: United States, Cuban, Cuba, China, People's Republic of China, Beijing

☆ Philadelphia I-95 highway collapse may snarl morning commutes
▼ + stars: | 2023-06-12 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +2 min

[1/4] A view of the aftermath of the collapse of a part of I-95 highway after a fuel tanker exploded beneath it, in Philadelphia, U.S. June 11, 2023 in this still image obtained from a social media video. Courtesy of Billy Kyle/via REUTERSPHILADELPHIA, June 12 (Reuters) - Philadelphia residents were bracing for a brutal morning commute on Monday after a tanker truck fire caused an overpass to collapse on Interstate 95. The major highway is closed in both directions in Philadelphia after the tanker trunk carrying gasoline caught fire for reasons that were not yet clear. The U.S. National Transportation Safety Board (NTSB) said the tanker was carrying gasoline and that it had sent a team to investigate. "I mean, they're looking to maintain the basic safety of the bridges due to deterioration," he said.

Persons: Billy Kyle, Leslie Richards, Josh Shapiro, Andy Herrmann, Herrmann, Jarrett Renshaw, Brad Brooks, Andrea Shalal, Donna Bryson, Raju Gopalakrishnan Organizations: REUTERS, Southeastern Pennsylvania Transportation Authority, Pennsylvania, U.S . National Transportation Safety Board, American Society of Civil Engineers, Thomson Locations: Philadelphia , U.S, REUTERS PHILADELPHIA, Philadelphia, East Coast, Miami, Maine, U.S, Lubbock , Texas, Washington

☆ World Bank must drive private investment in climate transition, new chief says
▼ + stars: | 2023-06-11 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

WASHINGTON, June 11 (Reuters) - The World Bank must use "informed risk-taking" to encourage private investors to get more engaged in helping developing countries deal with climate change and leapfrog fossil-fuel energy sources, its new president Ajay Banga said on Sunday. Private sector capital was critical since funds from governments, philanthrophy, the World Bank and other multilateral development banks (MDBs) would never suffice to help poor countries adapt to and mitigate climate change, said Banga, a former Mastercard CEO who took office on June 2. Private companies were bound to deliver returns for shareholders and could not take on the risks involved, but the bank could help, he said. The Indian-born executive was nominated by the U.S. for the job precisely because of his previous work in the private sector, and he has pledged to identify barriers for greater investment and find ways to maximize the bank's impact. Banga told CNN he would also work closely with other multilateral lenders and development organizations, noting that he would be joined in his visits this week by Inter-American Development Bank President Ilan Golfajn.

Persons: Ajay Banga, Banga, CNN's, Fareed Zakaria, Ilan Golfajn, Andrea Shalal, Mark Porter, Jan Harvey Organizations: Fareed Zakaria GPS, World Bank, Mastercard, U.S, CNN, Inter, American Development Bank, Thomson Locations: Banga, Peru, Jamaica

Administration officials plan to maintain their silence on the Trump indictment, a reflection of Biden's view that no president should interfere with the Justice Department, administration sources said. Given that Trump is Biden's chief rival in the 2024 presidential race, the campaign should proceed carefully in any mention of the charges, some political experts say. Many fellow Republicans that are challenging Trump in 2024 have rebuked the Justice Department, not Trump, over the documents, and accused Biden of "weaponizing" the department, even though Trump's indictment was handed down by a grand jury. Even speaking off the record, many Biden officials carefully avoided giving their opinion about the 37 charges Trump faces over his handling of classified documents. And Democrats in Congress close to Biden have stressed the rule of law rather then using the occasion to take jabs at Trump.

Persons: Joe Biden, Donald Trump, Trump, Biden, Robert Reich, Bill Clinton, Jeremi Suri, Sunday Trump, Suri, ”, General Merrick Garland, Chris Coons, Trump's, Andrea Shalal, Heather Timmons, Mark Porter Organizations: White House, Justice Department, Republicans, Trump, University of California, University of Texas, Sunday, Catholic, Biden, Democrat, Committee, Thomson Locations: Berkeley, Austin, Florida, Washington, United States, Delaware, America

☆ Bidens offer 'joy' at White House Pride event as LGBTQ attacks mount
▼ + stars: | 2023-06-10 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

[1/6] A child wears sunglasses depicting the colors of the bisexual pride flag during a Pride Celebration hosted by U.S. President Joe Biden on the South Lawn of the White House, in Washington, U.S., June 10, 2023. REUTERS/Anna Rose LaydenWASHINGTON, June 10 (Reuters) - U.S. President Joe Biden on Saturday hosted the largest Pride celebration in White House history on Saturday, calling for new measures to protect the rights and safety of LGBTQ+ people amid a spate of what he called "terrifying" attacks and legislation. Biden, a Democrat, urged Congress to pass the "Equality Act" which would amend the 1964 Civil Rights Act to include sexual orientation and gender identity for protection alongside race, religion, sex and national origin, and ban assault weapons. "Today, we say loud and clear - that you belong, that you are beautiful, that you are loved," she said. Reporting by Andrea Shalal; additional reporting by Jeff Mason, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Anna Rose Layden WASHINGTON, Biden, picnicked, Pete Buttigieg, Rachel Levine, Jill Biden, Ron DeSantis, Andrea Shalal, Jeff Mason, Deepa Babington Organizations: U.S, White, REUTERS, Saturday, Transportation, Health, Human, Senate, Q, Republican, Biden, Gallup, Thomson Locations: Washington , U.S, Colorado Springs, Orlando , Florida, Florida, statehouses

☆ China has been spying from Cuba for some time, U.S. official says
▼ + stars: | 2023-06-10 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, June 9 (Reuters) - China has been spying from Cuba for some time and upgraded its intelligence collection facilities there in 2019, a Biden administration official said on Saturday, following a report about a new spying effort underway on the island. The official said the issue predated Joe Biden's presidency, as had Beijing's efforts to strengthen its intelligence collection infrastructure worldwide. "The PRC (People's Republic of China) conducted an upgrade of its intelligence collection facilities in Cuba in 2019. That includes a trip to China that U.S. officials say Secretary of State Antony Blinken is planning for June 18. The official said U.S. diplomats had engaged governments that were considering hosting Chinese bases and had exchanged information with them.

Persons: Biden, Joe Biden's, Carlos Fernandez de Cossio, Antony Blinken, Washington's, Donald Trump, Andrea Shalal, Phil Stewart, Dave Sherwood, Daniel Wallis Organizations: Biden, People's, Cuban, Foreign, Thomson Locations: China, Cuba, Florida, U.S, People's Republic of China, Washington, Cuban, America, Beijing, United States, Coast, Havana

☆ IMF urges Fed, central banks to keep tightening to reduce inflation
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

IMF spokesperson Julie Kozack said inflation momentum has slowed in the United States, but remained a pressing concern. The IMF warned in April that lurking financial system vulnerabilities could erupt into a new crisis and slam global growth this year, edging its 2023 global growth forecasts lower. "We believe that central banks should stay the course on monetary tightening to decisively reduce inflation." "We also see that inflation momentum has slowed, but that inflation does remain a pressing concern," Kozack said. "Our advice remains unchanged, which is that the Fed would need to stay the course on monetary policy to ensure a durable reduction in inflation and to ensure that inflation expectations ... remain well-anchored."

Persons: Sarah Silbiger WASHINGTON, Julie Kozack, Kozack, Andrea Shalal, Paul Simao Organizations: El Progreso Market, Washington , D.C, REUTERS, Monetary Fund, U.S . Federal Reserve, IMF, Thomson Locations: Mount Pleasant, Washington ,, United States, U.S

[1/6] Britain's Prime Minister Rishi Sunak speaks during a meeting with U.S. President Joe Biden in the Oval Office at the White House in Washington, U.S., June 8, 2023. REUTERS/Evelyn HocksteinWASHINGTON, June 8 (Reuters) - U.S. President Joe Biden and British Prime Minister Rishi Sunak on Thursday agreed to deepen close economic ties between their countries, pledging to accelerate the clean energy transition and strengthen critical mineral supply chains. Biden and the British prime minister released the "Atlantic Declaration," which Sunak described as a first-of-its-kind economic partnership on issues like artificial intelligence, climate change and protecting technologies that would help shape the future. Biden and Sunak both underscored continued support for Ukraine to ensure its long-term security and deter aggression after the war ends. Biden and Sunak last met in Hiroshima, Japan, at the Group of Seven summit last month.

Persons: Rishi Sunak, Joe Biden, Evelyn Hockstein WASHINGTON, Biden, ” Sunak, We're, Sunak, Ukraine's, Vladimir Putin, Ben Wallace's, Trevor Hunnicutt, Andrea Shalal, Rami Ayyub, Kate Holton, Lincoln, Heather Timmons, Jonathan Oatis Organizations: Britain's, U.S, White, REUTERS, British, Sunak, EU, NATO, Office, Northern, Kyiv, Thomson Locations: Washington , U.S, Ukraine, Northern Ireland, Asia, Russia, Nova, Russian, Hiroshima, Japan, Belfast, San Diego, United States, Australia, Britain, Washington, London

☆ World Bank to assess damage after Ukraine dam destruction
▼ + stars: | 2023-06-07 | by ( Andrea Shalal | ) www.reuters.com time to read: +1 min

WASHINGTON, June 7 (Reuters) - The World Bank will support Ukraine by conducting a rapid assessment of damage and needs after Tuesday's destruction of a huge hydroelectric dam on the front lines between Russian and Ukrainian forces, a top bank official said on Wednesday. Anna Bjerde, the World Bank's managing director for operations, said on Twitter the destruction of the Novo Kakhovka dam had "many very serious consequences for essential service delivery and the broader environment." Ukrainians abandoned inundated homes on Wednesday as floods crested across the south after the destruction of the dam, with Russia and Ukraine trading blame for the disaster. Bjerde said the new damage assessment would build on the bank's previous analysis of damage to Ukraine's infrastructure and buildings, which estimated that it would cost $411 billion to rebuild Ukraine's economy after Russia's invasion. The International Monetary Fund on Wednesday said it is "very concerned" about the social, economic and environmental impact from the destruction of the dam.

Persons: Anna Bjerde, Denys Shmyhal, Bjerde, Andrea Shalal, Leslie Adler, Lincoln Organizations: Bank, Twitter, Monetary Fund, Thomson Locations: Ukraine, Ukrainian, Russia

[1/3] Artificial Intelligence words are seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoWASHINGTON, June 7 (Reuters) - Britain will host a global summit on artificial intelligence safety later this year and Prime Minister Rishi Sunak and U.S. President Joe Biden will discuss the technology at their Thursday meeting, the UK government said. That includes China, where the government is seeking to initiate artificial intelligence regulations, according to billionaire Elon Musk who met officials during his recent trip to China. Sunak is on a trip to the United States and will meet Biden at the White House on Thursday. Reporting by Kanishka Singh and Andrea Shalal in Washington; editing by Deepa Babington and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Rishi Sunak, Joe Biden, Biden, Sunak, Elon Musk, Kanishka Singh, Andrea Shalal, Deepa Babington, Stephen Coates Organizations: REUTERS, WASHINGTON, Palantir Technologies, Regulators, White, Thomson Locations: Britain, British, China, United States, Washington

WASHINGTON, June 6 (Reuters) - The White House on Tuesday said it could not say conclusively what caused the destruction of a massive dam in Ukraine, but was assessing reports that the blast was caused by Russia, which has been occupying the dam since last year. "We've seen the reports that Russia was responsible for the explosion at the dam," he said. REUTERS/Ivan AntypenkoUkraine accused Russia of blowing up the Nova Kakhovka dam while the Kremlin said it was Ukraine that had sabotaged the dam. Asked if the destruction of the dam would constitute a war crime, Kirby said international law forbade the destruction of civilian infrastructure. He said U.S. officials would continue to work with humanitarian partners on the ground to supply aid to those affected.

Persons: John Kirby, Kirby, We've, Ivan Antypenko, Nandita Bose, Andrea Shalal, Leslie Adler Organizations: REUTERS, Thomson Locations: Ukraine, Russia, Dnipro, Ukrainian, Kherson, Ivan Antypenko Ukraine, Kremlin

WASHINGTON, June 5 (Reuters) - The White House said on Monday recent dangerous encounters between U.S. and Chinese forces in the Taiwan Strait and South China Sea reflect a growing aggressiveness by Beijing's military that raises the risk of an error in which "somebody gets hurt." It also follows a May 26 incident in which a Chinese fighter jet carried out what the United States called an "unnecessarily aggressive" maneuver near an American military plane over the South China Sea in international airspace. "Sadly, this is just part of, again, a growing aggressiveness by the PRC (People's Republic of China) that we're dealing with, and we're prepared to address it," White House spokesperson John Kirby told reporters amid deteriorating ties between Washington and Beijing. In Beijing, Wang Wenbin, a Chinese foreign ministry spokesperson, said that "the measures taken by the Chinese military are completely reasonable, legitimate, and professional and safe." Kirby said the United States would continue to stand up for the freedom of navigation in the air and sea.

Persons: we're, John Kirby, Kirby, Wang Wenbin, Heck, it's, Vedant Patel, Joe Biden's, Biden, Patel, Chung, Hoon, Wang, Derek Grossman, Andrea Shalal, Daphne Psaledakis, Matt Spetalnick, Jasper Ward, Will Dunham Organizations: PRC, People's, American, U.S . State Department, Montreal, U.S . Navy, RAND Corporation, Thomson Locations: Taiwan Strait, South China, U.S, Taiwan, Ukraine, United States, American, South, People's Republic of China, Washington, Beijing, China, Canadian, Hainan, Jasper

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