U.S. President Joe Biden and top congressional Republican Kevin McCarthy have reached a tentative deal to raise the federal government's $31.4 trillion debt ceiling, ending a months-long stalemate. Here are some quotes from the announcement and reactions to the news: DEMOCRATIC PRESIDENT JOE BIDEN. "Earlier this evening, Speaker McCarthy and I reached a budget agreement in principle.
U.S. President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal to raise the federal government's $31.4 trillion debt ceiling on Saturday evening, ending a months-long stalemate.
A deal to raise the U.S. federal government's $31.4 trillion debt ceiling can be reached by a June 5 deadline, the top congressional Republican Kevin McCarthy said on Saturday. "I feel closer to a deal now than I did a long time ago because I see progress, but this is not easy in any shape or form," McCarthy said.
President Joe Biden and top congressional Republican Kevin McCarthy were holding a phone conversation on Saturday evening about the ongoing debt ceiling negotiations, a person familiar with their plans said. The two were expected to speak starting at 6 p.m. E.D.T., the person said.
The financial regulator of China's Wuhan city publicly exposed 259 firms with debt to the government and urged them to immediately pay up, local media reported on Saturday. The rare action from Wuhan's finance bureau on Friday comes as local governments in China become increasingly pressed by higher debt and expenses.
Democratic and Republican negotiators said they were hopeful of reaching a deal to raise the federal government's $31.4 trillion debt ceiling and avert a disastrous default, with talks expected to resume on Saturday. Time is tight.
Poland plans to raise the minimum wage twice in 2024 to help people cope with high inflation, Family and Social Policy Minister Marlena Malag said, as the ruling Law and Justice party prepares for a parliamentary election later this year.
Profits at China's industrial firms slumped in the first four months of 2023, official data showed on Saturday, as companies continued to struggle with margin pressures and soft demand amid a faltering economic recovery. Profits fell 20.6% in January-April from a year earlier, compared with a 21.4% decline in the first three months, according to data from the National Bureau of Statistics.
Profits at China's industrial firms fell 20.6% in the first four months of 2023 from a year earlier, official data showed on Saturday, as companies continued to struggle with margin pressures and soft demand amid a faltering economic recovery. The fall followed a 21.4% profit decline in the January-March period, according to data from the National Bureau of Statistics.
Democratic President Joe Biden and a Republican negotiator said on Friday they were working on a deal to raise the U.S. government's $31.4 trillion debt ceiling after the Treasury Department warned that a June 5 default loomed without action.
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