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White House highlights infrastructure, manufacturing investments as Biden pushes policy wins

The White House on Tuesday is launching a website to map and track tens of thousands of infrastructure projects and private manufacturing investments, an effort by the administration to show the positive impact of its policies on the U.S. economy to a skeptical public.

The site, Invest.gov, documents roughly 32,000 infrastructure projects and more than $470 billion worth of investments in the production of electric vehicles, batteries, computer chips, biotech, clean energy and other sectors. President Joe Biden is seeking reelection in 2024 by trying to show how his policies are reshaping the U.S. economy to address climate change and compete with rivals such as China.

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Cost of living weighs on EU voters year before polls

Cost of living woes are focusing European voters' minds one year before they go to the polls to choose a new EU parliament, a new official survey Tuesday showed.

Half the 26,000 respondents questioned across all 27 EU countries for the Eurobarometer survey "see their own standard of living in decline and expect it to decrease even further," according to the results.

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Turkish inflation dips under 40% for first time in 16 months

Turkey's annual inflation rate dropped below 40 percent in May for the first time in 16 months, pushed down by a temporary offer of free gas to households, official data showed on Monday.

Consumer prices rose by 39.6 percent on an annual basis and were almost stable, at 0.04 percent, compared to the previous month, according to the country's statistics agency.

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Crude prices up after Saudi cuts, but energy prices way down from last year

Wall Street is relatively flat Monday following last week's last surge propelled by U.S. jobs data that raised new questions about if or when a recession might arrive.

Futures for the S&P 500 and the Dow Jones Industrial Average are essentially unchanged heading into a week with little new data expected from major U.S. corporations or economic indicators from Washington.

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Switzerland's UBS says it could complete Credit Suisse takeover on June 12

Switzerland's UBS said Monday that it expects to complete its takeover of longtime rival Credit Suisse as early as next week.

The two Zurich-based banks are uniting in a 3 billion-franc ($3.3 billion) deal that was arranged hastily in March by the Swiss government and regulators after Credit Suisse's stock plunged and jittery depositors quickly pulled out their money.

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Saudi Arabia slashes output further to boost oil price

Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to prop up the sagging price of crude after two previous cuts to supply by major producing countries in the OPEC+ alliance failed to push oil higher.

The Saudi cut of 1 million barrels per day, to start in July, comes as the other OPEC+ producers agreed in a meeting in Vienna to extend earlier production cuts through next year.

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California bill requiring Big Tech to pay for news gains momentum

A California bill that would force Big Tech companies to pay media outlets for posting and using their news content cleared another critical hurdle Thursday.

The measure is among hundreds of bills that passed in the state Senate and Assembly this week before Friday — the last day a bill can pass out of its original chamber and get a chance to become law later this year.

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IMF says Sri Lanka's economic recovery shows signs of improvement but challenges remain

Debt-stricken Sri Lanka, which declared bankruptcy last year, is showing signs of economic improvement but its recovery still faces challenges, the International Monetary Fund said Friday.

The Indian Ocean island nation declared bankruptcy in April 2022 and said it was suspending repayment of its foreign debt. It reached an agreement with the IMF in March on a nearly $3 billion bailout program over four years.

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World follows Wall Street up on hopes Fed will ease off rate hikes

Global stock markets and Wall Street futures rose Friday ahead of a U.S. jobs market update after Federal Reserve officials reignited hopes that another interest rate hike might be postponed.

London and Paris opened up more than 1%. Hong Kong surged 4% after U.S. lawmakers approved a deal to avert a government debt default. Shanghai, Tokyo and Seoul also advanced.

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British Ambassador visits UK funded projects in Sidon, inaugurates Fish Market

The British Ambassador to Lebanon, Hamish Cowell, has inaugurated the newly rebuilt Fish Market in Sidon.

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