‘China threat’ emerges in elections from UK to Australia

‘China threat’ emerges in elections from UK to Australia

LONDON (AP) — It’s not just the economy. While inflation and recession fears weigh heavily on the minds of voters, another issue is popping up in political campaigns from the UK and Australia to the US and beyond: the “China threat.” The two finalists vying to become Britain’s next prime minister, Liz Truss and Rishi … Read more

FAO food price index fell sharply in July but the respite may not last

Farmers harvest a wheat field near Melitopol in Ukraine. Wheat, soybean, sugar, and corn futures have fallen from their March highs back to prices seen at the start of 2022. Olga Maltseva Afp | Getty Images Food prices dropped significantly in July from the previous month, particularly the costs of wheat and vegetable oil, according … Read more

Senate Democrats pass Inflation Reduction Act; House to vote next

WASHINGTON DC — Democrats pushed their election-year economic package to Senate passage Sunday, a hard-fought compromise less ambitious than President Joe Biden’s original domestic vision but one that still meets deep-rooted party goals of slowing global warming, moderating pharmaceutical costs and taxing immense corporations. The estimated $740 billion package heads next to the House, where … Read more

Senate passes Democrats’ sweeping climate, health and tax bill, delivering win for Biden

Washington — The Senate on Sunday passed Democrats’ sweeping economic package designed to combat climate change, address health care costs and raise taxes on large corporations, marking a crucial achievement for President Biden and his party as they look to maintain their hold on Congress in the November midterm elections. The plan, called the Inflation … Read more

Senate Democrats near passage of Inflation Reduction Act in marathon session

Washington — Democrats drove their election-year economic package toward Senate approval on Sunday, debating a measure with less ambition than President Biden’s original domestic vision but that touches deep-rooted party dreams of slowing global warming, moderating pharmaceutical costs and taxing immense corporations. Debate began Saturday and by sunrise on Sunday, Democrats had swatted down a … Read more

Senate vote on tax and climate bill: Live updates

WASHINGTON (AP) — Democrats drove their election-year economic package toward Senate approval early Sunday, debating a measure with less ambition than President Joe Biden’s original domestic vision but that touches deep-rooted party dreams of slowing global warmingmoderating pharmaceutical costs and taxing immense corporations. Debate began Saturday and by early Sunday morning, Democrats had swatted down … Read more

Ukraine grain shipments offer hope, not fix to food crisis

BEIRUT (AP) — A ship bringing corn to Lebanon’s northern port of Tripoli normally would not cause a stir. But it’s getting attention because of where it came from: Ukraine’s Black Sea port of Odesa. The Razoni, loaded with more than 26,000 tons of corn for chicken feed, is emerging from the edges of a … Read more

Parliamentarian weakens Democrats’ drug plan in Inflation Reduction Act, as Senate prepares to vote

The Senate parliamentarian on Saturday dealt a blow to Democrats’ plan for curbing drug prices but left the rest of their sprawling economic bill largely intact as party leaders prepared for the first votes on a package containing many of President Joe Biden’s top domestic goals. Elizabeth MacDonough, the chamber’s nonpartisan rules arbiter, said lawmakers … Read more

Senate rules referee weakens Dem drug plan in economic bill

WASHINGTON (AP) — The Senate parliamentarian on Saturday dealt a blow to Democrats’ plan for curbing drug prices but left the rest of their sprawling economic bill largely intact as party leaders prepared for first votes on a package containing many of President Joe Biden’s top domestic goals. Elizabeth MacDonough, the chamber’s nonpartisan rules arbiter, … Read more

Bank of England launches biggest interest rate hike in 27 years

BOE Governor Andrew Bailey has warned the Bank is walking a “narrow path” between growth and inflation. Bloomberg | Bloomberg | Getty Images LONDON — The Bank of England on Thursday hiked interest rates by 50 basis points, its largest single increase since 1995, and projected the UK’s longest recession since the global financial crisis. … Read more