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A key gauge of Chinese stocks was again poised to enter a bear market after flirting with the

Australian inflation accelerated, snapping three months of easing, sending government bond yields higher as traders fretted about potentially

Ron DeSantis is kicking off his 2024 Republican presidential campaign this week with a trip to early voting

China’s manufacturing activity contracted for a second straight month in May, providing more evidence the post-Covid recovery in

JPMorgan Chase & Co.’s China head said its expansion in the country is taking longer than expected, as

The bipartisan agreement to raise the debt limit cleared a key hurdle on Tuesday evening despite vehement criticism from many House Republicans. The House Rules Committee voted 7-6 to advance the legislation that codifies the bipartisan agreement struck between House Speaker Kevin McCarthy’s team and negotiators from President Joe Biden’s administration. The rule will now go to the full House floor before the agreement comes to a full House vote. The rule passed after an hours-long deliberation in the committee that included multiple amendment proposals. The vote comes as Treasury Secretary Janet Yellen has warned that the United States will be unable to satisfy its debt obligations come 5 June. The House of Representatives is set to vote But many House Republicans raised objections, including members of the House Freedom Caucus who had previously opposed Mr McCarthy’s bid for speaker in January. Rep Andy Biggs (R - AZ) told The Independent that Mr McCarthy’s deal with the White House was a repeat of his past behaviour. “When he was been in leadership for 13 years, it was not uncommon for him to be the point man to go negotiate a spending cap deal with the Democrats,” he said. Many Republicans criticised the fact that the legislation keeps in place Mr Biden’s student loan forgiveness, only claws back a small sliver of money meant to increase funding for the Internal Revenue Service and raises the debt limit until January 2025, after the 2024 presidential election. Rep Bob Good (R - VA) told The Independent that the bill symbolised a surrender from House Republican leadership. “We have literally come together and our leadership and their leadership and agreed on a Democrat bill,” Mr Good told The Independent. But many allies of Mr McCarthy also opposed the legislation. Rep Nancy Mace (R - SC), who voted for Mr McCarthy for speaker in January, announced her opposition to the bill. “Washington is, was and always will be lousy at responsibly spending your tax dollars,” she tweeted. “That won’t change unless we demand change.” Rep Chip Roy (R - TX) refuted the idea that conservatives would want the United States to default on its debt obligations. “The only person who would default in this town is Joe Biden unless Republicans default on the American dream by voting for this bad bill,” he said at a press conference. “That is why this group will oppose it, we will continue to fight it, today, tomorrow, and no matter what happens, there’s going to be a reckoning about what just occurred.” Mr Roy had tweeted on Monday that during the negotiations for the speakership, Republican leaders pledged that nothing would pass the Rules Committee without at least seven Republican votes and the committee would not allow for reporting out rules without unanimous Republican votes. During the negotiations, Mr Roy tried to stress his opposition and said why Republicans should oppose the bill. “We're not going to reduce spending through this deal. Unless we actually stand up and reduce spending it'll be on us to choose to,” he said during the hearing. “But this deal isn't going to reduce spending even though everybody's going around saying it will.” But some Republicans stressed that the agreement was the only one that could pass the House and Senate and end up on the president’s desk. “We only control one-half of one-third of government,” Rep Erin Houchin (R - IN) said. “There’s no better deal to be had.” Mr McCarthy expressed confidence in a press conference that he would have enough votes to raise the debt limit. “I’m not sure what in the bill people are concerned about,” he told reporters, saying it is the largest savings in congressional history. “We’re pulling money back for the hard-working taxpayers that are going to China. Are they opposed to work requirements for welfare?” On the Senate side, both Republican and Democratic leaders praised the agreement. “Congress will vote on legislation that locks in that important progress,” Senate Minority Leader Mitch McConnell (R - KY) said in remarks on the Senate floor. “Republicans have a tremendous opportunity to take on an existential challenge facing our economy and future generations of Americans. We have a chance to start bringing Washington Democrats’ reckless spending to heel.” Senate Majority Leader Chuck Schumer said the bill was a reasonable compromise. “Of course, nobody is getting everything they want – there is give on both sides – but this agreement is the responsible, prudent and very necessary way forward,” he said on the Senate floor. Mr Schumer said he would bring the bill up as quickly as possible for consideration before the default deadline on 5 June. Read More Biden ‘optimistic’ about McCarthy negotiations as AOC slams ‘dysfunctional’ debt ceiling system Debt ceiling deal reached between Biden and McCarthy Conservatives bark after the debt limit deal. Will they actually bite McCarthy? GOP chairman moves to hold FBI director Wray in contempt over Biden doc Utah Republican Chris Stewart planning to resign from Congress, AP source says Debt limit deal is in place, but budget deficit is still a multi-decade challenge for US government

The debt-limit deal struck by the White House and House Republican leadership has cleared a crucial early hurdle

Governor Ron DeSantis was in Iowa on Tuesday for his first rally of the 2024 Republican primary cycle — but his remarks were clearly aimed at a general election audience. The conservative governor punched at a whole host of familiar GOP foes during the evening event in west Des Moines, where voters will have the first crack at the Republican field of 2024 candidates. But Mr DeSantis himself did not swipe at any of those rivals. Instead, he focused his fire on the news media, the federal government and its related bureaucracy, and even the Disney corporation which has become embroiled in a feud with him in his home state. His list of targets was a choice selection of Republican red meat. Dr Anthony Fauci, Hunter Biden, critical race theory, “gender ideology” and diversity, equity and inclusion (DEI) initiatives were all up for skewering. So to was George Soros, the Jewish billionaire whose involvement in Democratic-leaning politics has spawned a host of antisemitic conspiracy theories on the right; Mr DeSantis attacked “Soros-backed prosecutors” who he blamed for supposedly refusing to enforce laws of which they disapprove. It was a campaign speech that had all the signs of both the strengths that propelled Mr DeSantis to victory twice in Florida as well as the weaknesses which may very well doom his 2024 bid for the presidency unless a major change in the status quo takes place. The main weakness it highlighted: Mr DeSantis’s unwillingness to engage in a direct fight with Donald Trump, his presumed rival for the GOP nomination. Mr Trump remains the steady favourite in all available polling of the upcoming contest, and it is difficult to see how the Florida governor reverses his recent polling slide without confronting the former president by name. That was one thing Mr DeSantis avoided completely on Tuesday, a fact that drew into question his claim to be willing to stand up to any rival or political foe who came forth. Worse, the governor took a few veiled shots at the leading candidate — references to a single term in the White House being insufficient to clear out the “swamp” in Washington, blame for “empower[ing]” Republican foes like Dr Fauci — but those attacks failed to draw serious blood and left watchers of the address wondering why Mr DeSantis is so hesitant to call out the man who has been personally and politcally degrading him in statements for weeks. “If you are faced with a destructive bureaucrat in your myths like a Fauci, you do not empower somebody like Fauci, you bring him into the office and you tell him to pack his bags, you are fired,” said the governor in one half-hearted attempt at landing a blow on his rival. In another: “At the end of the day leadership is not about entertainment. It's not about building a brand. It's not about virtue signaling. It is about results. And in Florida, we didn't lead with merely words. We followed up our words with deeds, and we have produced a record of accomplishment that we would put up against anybody in this country.“ More follows... Read More Fair-weather DeSantis’ climate change rejection is ‘politicization’ at its finest LGBTQ people are fleeing Florida in ‘mass migration’ with some fundraising via GoFundMe Ron DeSantis called out for ‘ignoring’ Hollywood beach shooting: ‘He doesn’t care’

Reserve Bank of Australia Governor Philip Lowe said he’s “appalled” by the tax scandal that’s engulfed PricewaterhouseCoopers and

Journalist Soraya Ali travels to Somalia to see if it really is how her mother remembers it.

The New York Yankees expect to get Josh Donaldson and Tommy Kahnle with the team to face the Dodgers, but another star could also come to LA too.Injuries have plagued the New York Yankees all season long. Luckily, the club has persevered through much of that to still be in line for an AL Wild Ca...

South Korea’s equity benchmark headed for a bull market as purchases by foreign investors helped boost shares of