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The US Senate has voted to approve Joe Biden’s $1.9tn stimulus legislation, taking the president’s plan to stoke America’s economic recovery a big step closer to securing its final passage in Congress. The upper chamber of Congress passed the fiscal stimulus legislation by 50 to 49, following party lines with all Democrats voting in favour
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The EU will urge the US to permit the export of millions of doses of AstraZeneca’s Covid-19 vaccine to Europe as Brussels scrambles to bridge supply shortfalls that have hobbled its inoculation drive. The European Commission plans to raise the matter in forthcoming transatlantic discussions aimed at boosting collaboration on the fight against Covid-19, EU
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Deliveroo has chosen London for its highly anticipated initial public offering after Rishi Sunak, the UK chancellor, endorsed an overhaul of listing rules to allow founders to retain more control after going public.  The multibillion-pound IPO is expected to be among London’s largest this year, handing the City a much-needed win over New York and
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Greensill Capital, the once high-flying financial company that counts former prime minister David Cameron as an adviser, is preparing to file for insolvency in the UK. People familiar with the matter said that the filing will allow private equity firm Apollo Global Management to buy parts of the business out of administration, in a “prepack”
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Greensill Capital has sought protection from Australia’s insolvency regime, as the SoftBank-backed finance group races to strike a rescue deal. The company is seeking to invoke so-called “safe harbour” protection in Australia, which shields directors from personal liability for a company trading while insolvent, according to people familiar with the matter. Greensill specialises in supply
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Donald Trump said he might run for president again, delighting his supporters at a speech to the Conservative Political Action Conference — his first public appearance since leaving the White House last month. The former president sent audience members at the Cpac event in Florida into raptures with a typically combative speech, much of which
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Warren Buffett warned that debt investors faced a “bleak future” days after a sell-off pummelled government bonds and sent reverberations through global stock markets. The 90-year-old chief executive of Berkshire Hathaway told shareholders in his closely followed annual letter that it was best to eschew the fixed-income market, in which the company is itself a
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The House of Representatives has passed a $1.9tn coronavirus relief package, as US president Joe Biden cleared the first big hurdle on the way to securing congressional approval for his economic stimulus bill. The Democratic-controlled House passed the expansive legislation, which includes $1,400 direct payments, an extension of federal top-ups to unemployment insurance and another
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Joe Biden will order a review of critical supply chains to reduce America’s dependence on China and other rivals for everything from rare earths and drug ingredients to semiconductors. The US president will sign an executive order on Wednesday requiring federal agencies to conduct 100-day reviews of supply chains for semiconductors, pharmaceuticals, electric vehicle batteries
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China’s crackdown on Jack Ma’s Ant Group is boosting rival lenders that charge much higher interest rates, raising fears that Beijing’s drive to lower credit risk could actually spur a wave of defaults. The online lending unit of Ant has been forced to rein in its business since President Xi Jinping ordered regulators to scrap
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Facebook’s decision to block the sharing of news in Australia restricted access to critical public information on government health and emergency service sites on Thursday, provoking a backlash from the government and public. The Facebook pages of Australia’s Bureau of Meteorology, Queensland Department of Health and Hobart Women’s Shelter were among dozens hit by a
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Apple approached Japan’s Nissan in recent months about a tie-up for its secretive autonomous car project, but talks are no longer active, according to people briefed on the matter.  The contact was brief and the discussions did not advance to senior management levels following divisions over branding for the iPhone maker’s electric vehicles, the people
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Donald Trump was acquitted of inciting an insurrection in last month’s deadly assault on the US Capitol, as Republican senators closed ranks at the former president’s second impeachment trial to prevent his conviction.  After a five-day trial, the Senate voted 57-43 on Saturday afternoon on the question of whether Trump was guilty of inciting an
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TikTok is planning an aggressive expansion into ecommerce in the US, where it will go head-to-head with Silicon Valley giant Facebook. The Chinese-owned viral-video app has briefed advertisers on a number of new features for 2021, according to several people who have seen its plans, such as a tool that lets its most popular users
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Antony Blinken, US secretary of state, warned China that Washington would hold Beijing “accountable for its abuses”, in the first high-level interaction between the countries since Joe Biden became president. Following a call with Yang Jiechi, China’s top foreign policy official, Blinken said he had told his counterpart that the Biden administration would stand up