Republicans, White House reach deal on debt extension to 2017
Washington
PRESIDENT Barack Obama and top lawmakers from both parties reached a tentative budget agreement that would avert a US debt default and lower chances of a government shutdown, lessening years of political friction over fiscal policy in Washington.
The accord would extend US borrowing authority until March 2017 - preventing a default as soon as next week - and include a two-year deal on spending levels. Details are to be worked out later, raising the prospect it will be punted to the next president.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’