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Chinese stocks staged a sharp rebound as signs that the Federal Reserve is close to the end of

Goldman Sachs Group Inc. cut its target for the MSCI China Index on earnings and currency concerns, but

The Senate voted late on Thursday night to raise the debt limit and avoid allowing the United States to default on its debt for the first time in history after having an all-night marathon session of votes to assuage Republican concerns. The legislation passed 63 to 36 after senators held 11 votes on amendments —10 from Republicans and 1 from Democrats — to address concerns about the bill. All but five Senators in the Democratic caucus--Sens Bernie Sanders (I-VT), Elizabeth Warren (D-MA), Ed Markey (D-MA), John Fetterman (D-PA) and Jeff Merkley (D-OR)--voted for the legislation while 31 Republican Senators opposed it. “America can breathe a sigh of relief because in this process we are avoiding,” Senate Majority Leader Chuck Schumer said before the votes began on Thursday evening. The vote came after the House passed the legislation on Wednesday that was the result of bipartisan negotiations between the House and the White House. The bill will now head to President before 5 June, the date that Treasury Secretary Janet Yellen had warned that the United States would default on its debt. Republicans raised concerns about some of the restraints on defence spending, which is capped at $886bn. “Well, my message is, I'm a Reagan Republican,” Sen Lindsey Graham (R-SC) told The Independent. “And you do military budgets based on threats and you want to fight over the role of the Republican Party on national defence, I welcome the fight.” Mr Graham expressed concern that it would lead to the United States not being able to support Ukraine in its war against Russia. “And if you want to avoid conflict, you better stand up to aggression,” he said. Sen Susan Collins (R-ME) echoed those concerns in a floor speech. “It would trigger an automatic meat an indiscriminate across-the-board cut in our already inadequate defence budget and in the domestic discretionary non-defence funding,” Sen Susan Collins (R-ME) said in a floor speech. “This would happen automatically if in fact all 12 appropriations bills have not been passed.” Ms Collins said that such a problem could be remedied through a defence supplemental package, which other Senators have also discussed. “It was important for some of our members to have folks on the record, acknowledging that there clearly could be a need will be a need for additional assistance for our national security interests,” Senate Minority Whip John Thune (R-SD) told The Independent. But some Republicans said they still opposed the debt limit increase. “Trade deficit with China,” Sen Josh Hawley (R-MO) told The Independent about why he opposed the bill. “Not gonna do anything about it.” Before the votes began, the Senate went into overtime with negotiations, with Sen Kyrsten Sinema (I-AZ) serving as an intermediary between Democrats and Republicans. “The President took too long but he had his own process and we got to save the country from having to fall,” Sen Mitt Romney (R-UT) told The Independent. “Speaker McCarthy has been underestimated and he's proven that he could get something done.” Conversely, Sen Tim Kaine (D-VA) proposed an amendment to strike a provision to expedite the completion of the Mountain Valley Pipeline, a natural gas pipeline that spans from West Virginia to Virginia, that ultimately failed 30 to 69. The pipeline is a top priority for Sen Joe Manchin (D-WV). Mr Manchin celebrated the inclusion of the pipeline in the agreement. “It’s important for our country, very much important,” Mr Manchin told The Independent. The approval of the pipeline triggered Sen Ed Markey (D-MA), an outspoken advocate for combating climate change, from opposing the legislation. But Sen Brian Schatz (D-HI), another climate hawk, said he would vote for it. “The agreement is the agreement we're going to have to vote for it,” he told The Independent. Other Democrats criticised the fact the bill imposed work requirements for the Supplemental Nutrition Assistance Program, known as SNAP and formerly called food stamps, for adults between the ages of 50 and 54 who do not have children and do not have disabilities. “I did not agree to these SNAP restrictions, and I won’t give Republicans an opening to try and take food from more food insecure Americans in Farm Bill negotiations later this year,” Mr Fetterman said in a statement after the vote. “As I communicated to leadership and the White House, I would have voted to avoid default if it would have made the difference. All in all, this was a tough vote and an ugly situation manufactured by extortionists. While we avoided a catastrophe this time around, we should never put the country in this situation again.” Mr Fetterman said Mr Biden should have invoked the 14th amendment to the US Constitution to avoid a default on the nation’s debt. The vote signals the end to a drawn-out fight between the Republican-controlled House on one end and a Democratic-controlled Senate and the White House on the other. Mr Schumer said the quick passage of the legislation showed the willingness to the Senate to avoid a catastrophic default. Read More 'Shrink the room:' How Biden and McCarthy struck a debt-limit deal and staved off a catastrophe Underestimated McCarthy emerges from debt deal empowered as speaker, still threatened by far right Biden and McCarthy’s debt limit deal went through – but there are winners and losers 'Shrink the room:' How Biden and McCarthy struck a debt-limit deal and staved off a catastrophe Biden and McCarthy’s debt limit deal went through – but there are winners and losers What’s next for Biden-McCarthy debt limit deal as Senate races to beat default?

Donald Trump returned to a familiar refrain on Thursday, insisting once again that he had done nothing wrong even as new challenges pop up seemingly every day for the ex-president who faces a bevy of criminal and civil investigations. Mr Trump returned to his favoured cable network, Fox News, for a town hall-style event moderated by primetime opinion host Sean Hannity, who is now the Fox star probably closest to the former president given the firing of Tucker Carlson, the network’s star pundit. And confronted with a new leaked recording indicating that Mr Trump knew that he was retaining classified materials after his presidential term ended, he once again insisted that he had done nothing wrong. “News broke yesterday there might be a tape recording where you acknowledged that you understood that these were classified documents [at Mar-a-Lago],” the Fox News host began. While asking also if the ex-president knew who had leaked the recording of the phone call, he questioned: “Do you know anything about this?” “No, I don’t know anything about it,” Mr Trump responded. “All I know is this: Everything I did was right. We have the Presidential Records Act, which I abided by 100 per cent.” He then moved on to attack President Joe Biden, before claiming: “I have the right to declassify as president.” The explanation was nothing new. Mr Trump has long claimed that any classified materials seized by investigators at Mar-a-Lago were in fact previously declassified by him during his presidency — though he has shown no evidence of an order to do so. And notably, the nod to the Presidential Records Act was another mistruth. The law does not allow for ex-presidents to retain original copies of presidential records after their terms end without the express consent of the National Archives, an agency that the former president has roundly denounced. Nonetheless, it was a familiar claim for the one-term president who escaped two impeachment proceedings despite bipartisan support for his removal; Mr Trump has long asserted that any investigation or civil suit filed against him is merely the work of his political foes in an attempt to block him from power. More follows... Read More Republicans want Biden to trip up – literally E Jean Carroll, Mary Trump, and Jennifer Taub are co-writing a romance novel Woman interrupts DeSantis speech to claim her son’s murder was covered up in Florida Ivanka and Jared split over attending Trump 2024 launch – follow live Why was Donald Trump impeached twice during his first term? Four big lies Trump told during his 2024 presidential announcement

After he rewarded the Dallas Cowboys with a career-best campaign in 2022, it appears running back Tony Pollard is ready to take on the upcoming NFL season.Running back Tony Pollard enjoyed a career year in 2022 but it came to a disappointing end in the playoffs at San Francisco. Not only did the...

Bill Cosby is being sued by Victoria Valentino in a new civil lawsuit claiming decades-old allegations of sexual assault, that her attorney shared with CNN and said it was filed in Los Angeles on Thursday.

Oil headed for its biggest weekly loss in a month as persistent concerns over demand weigh on the

Gov Ron DeSantis’ presidential campaign event in Manchester, New Hampshire was interrupted by a woman who claimed that her son’s murder had been covered up in Florida. The woman who made the accusation was led out of the facility where the rally was being held. As she was walking out of the event, the woman threw down a DeSantis hat she was holding and vowed to replace with a hat representing former President Donald Trump. Mr DeSantis made his first swing through the Granite State on Thursday, making headlines at an earlier stop for snapping at a reporter who asked him why he hadn’t taken questions from voters at the preceding event. There were several Trump supporters at the DeSantis event in Manchester in red shirts with the words “Union Carpenters for President Trump 2024” on them. Mr DeSantis trailed Mr Trump by more than 20 points in a mid-May poll of New Hampshire, the first primary state on the Republican calendar in 2024. Read More Ivanka and Jared split over attending Trump 2024 launch – follow live Why was Donald Trump impeached twice during his first term? Four big lies Trump told during his 2024 presidential announcement

Asia stocks advanced after a renewed rally in tech giants pushed Wall Street higher ahead of jobs data

By Kanishka Singh WASHINGTON A 2018 privacy lawsuit brought by Washington, D.C., against Facebook owner Meta Platforms Inc

Investors across Asia earmarked China’s ballooning levels of municipal borrowing as the region’s number one financial risk this

Economists appear to see a greater possibility of the Bank of Japan adjusting policy in the near-term than