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Democrat Joe Biden has named Kamala Harris as his vice-presidential running mate, making the senator from California the first African-American woman on a major US party’s presidential ticket. Mr Biden, who served as vice-president in the Obama administration, announced his pick on Tuesday. “I have the great honor to announce that I’ve picked Kamala Harris
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Lebanon’s government resigned on Monday as the prime minister blamed “political corruption” for a massive explosion at Beirut’s port killed more than 160 people and devastated the capital. “I discovered that the system of corruption is bigger than the state,” Hassan Diab, the premier, said in an address. His resignation came amid mounting anger among Lebanese
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One of the recent megadeals is the $21bn sale of Marathon Petroleum’s Speedway petrol stations business to Seven & i Holdings © Luke Sharrett/Bloomberg A series of blockbuster deals has led a resurgence in M&A activity since the start of July, with companies rushing to prepare themselves for the recession and dusting off deals that
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Sweden is no longer the outlier it used to be on coronavirus. It no longer has the least restrictive approach to the pandemic in Europe and it has lost its briefly held status as the country with the highest number of deaths per capita after its number of Covid-19 cases decreased over the summer. Its
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President Donald Trump has signed four executive orders aimed at helping Americans cope with the economic fallout from the pandemic, following the collapse in talkswith Democrats over a Congressional rescue package. Mr Trump approved one order that would partly renew unemployment benefits that were included in a previous stimulus package which expired last month. He
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The US has issued sanctions against 11 senior Chinese and Hong Kong officials, including Hong Kong chief executive Carrie Lam, over Beijing’s imposition of a sweeping national security law on the Asian financial centre. The sanctions mark yet another escalation in Donald Trump’s campaign to clamp down on everything from Chinese trade and economic practices
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For more than two years, Mariam al-Mheiri had been preparing for a crisis. So when aeroplanes stopped flying into the United Arab Emirates as the coronavirus pandemic spread across the Middle East in March, the country’s first food security minister knew what was expected. She had to guarantee that her desert nation, which imports 90
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Donald Trump has abandoned his opposition to Microsoft buying TikTok while vowing to ban the Chinese-owned video app in the US unless an American company acquired it by September 15. In remarks at the White House, Mr Trump added another complication to Microsoft’s pursuit of the app, insisting the US government should receive a portion
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Donald Trump has vowed to ban TikTok, the Chinese-owned video-sharing app, from operating in the US as his administration finalised a national security review of the company. The move, announced by Mr Trump as he flew back to Washington from Florida on Friday night, is likely to further inflame geopolitical tensions with China. It also
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The Federal Reserve has warned the fate of the world’s largest economy would “depend significantly on the course of the virus” as the US central bank extended measures to deal with an international shortage of dollars. After a two-day meeting on Wednesday, the Federal Open Market Committee made no significant changes to monetary policy, holding
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Moderna is pitching its coronavirus vaccine at about $50 to $60 per course, according to people familiar with talks between the company and potential buyers — higher than other vaccine makers have agreed to charge governments. The price would apply to the US and other high-income countries, which the company intended to prioritise, said other
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The surge in US coronavirus cases is pushing the Federal Reserve closer to a delicate decision on the best way to deliver more monetary support to the US economy, but the central bank is unlikely to move imminently. Policymakers will gather for a meeting of the Federal Open Market Committee on Tuesday and Wednesday that
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Senate Republicans set the stage on Monday for a clash with congressional Democrats by unveiling a White House-backed plan for $1tn in new stimulus that would cut emergency unemployment benefits by two-thirds. The move on the coronavirus relief package came after weeks of hesitation by party conservatives wary of more government spending. It reflects rising concern
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The dollar weakened to a two-year low on Monday as sharp increases in US coronavirus cases and flare-ups around the world weighed on investor confidence. The dollar index, which measures the currency against a basket of trading peers, slipped 0.7 per cent to its lowest level since June 2018, as fears mount that the continuing
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When Chinese diplomats began burning documents in the backyard of their Houston consulate after the US demanded its closure over spying allegations, it echoed a scene that played out in California a few years ago. Then, in September 2017, it had been Russian diplomats in San Francisco burning documents ahead of their eviction — also
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