China said on Saturday it pressed the United States to eliminate tariffs in talks between the countries’ top trade officials that Washington saw as a test of bilateral engagement between the world’s biggest economies.

A global deal to ensure big companies pay a minimum tax rate of 15 per cent and make it harder for them to avoid taxation has been agreed by 136 countries, the Organisation for Economic Cooperation and Development said on Friday.

US senators neared agreement in the small hours of Thursday to stave off a catastrophic credit default after Democrats said they were close to accepting an offer from the Republicans to raise the debt limit for two months.

Sagging demand at China’s urban land auctions amid a crackdown on borrowing by private developers’ risks squeezing regional finances, pressuring local governments to scramble for other income sources to fund investments and support the economy.

Australia’s resources minister has proposed setting up a government-run A$250 billion ($180 billion) lending facility for the country’s coal industry in return for supporting a net zero carbon emissions target for 2050, he said on Thursday.

General Motors Co Chief Executive Mary Barra told investors Wednesday the automaker plans to double revenue by 2030, expanding profits from combustion vehicles as it rolls out new electric vehicles and new digitally-powered services in a bid to catch up with Tesla Inc.

British business leaders on Thursday criticised Prime Minister Boris Johnson for lacking a plan to deal with a labour shortage crisis, after he called for them to pay higher wages.

World food prices rose for a second consecutive month in September to reach a 10-year peak, driven by gains for cereals and vegetable oils, the United Nations food agency said on Thursday.

The International Monetary Fund’s executive board will meet again on Friday after interviewing Managing Director Kristalina Georgieva over claims that she pressured World Bank staff to alter data to favor China in her previous role, a source familiar with the deliberations said.

Oil prices extended losses from the previous session on Thursday, as the United States said it was considering selling oil from its strategic reserves and as Russia said it was ready to stabilise the natural gas market.

DuckDuckGo and three other search engine rivals to Google on Thursday urged EU lawmakers to take action against the Alphabet unit via new tech rules, saying they have yet to see positive results from an antitrust ruling against Google.

Military-appointed authorities in Myanmar are making progress in addressing its currency crisis, with the kyat stabilising and efforts underway to keep prices under control, a senior central bank official said.

German industrial production fell more sharply than expected in August, official data showed Thursday, as supply chain frictions weigh heavily on Europe’s biggest economy.

Asian shares rallied on Thursday, taking heart from a late recovery on Wall Street after US politicans appeared near to a temporary deal to avert a federal debt default and as Russia reassured Europe on gas supplies, calming volatile markets.

US services industry activity nudged up in September, but growth is being restrained by a persistent shortage of inputs and the resulting high prices as the pandemic drags on.

Britain’s government bond market is showing signs of strain from the country’s energy crisis, with headlines about gas prices sparking heavy selling this week - a new development that points to growing unease over inflation expectations.

The European Union will launch public consultations this month on reforming budget rules that cap members’ debt but were suspended due to the pandemic, the EU economic affairs commissioner said Tuesday.

British Prime Minister Boris Johnson rallies his Conservative party faithful on Wednesday, vowing a far-reaching overhaul to wean the UK economy off cheap foreign labour after Brexit.

Russia’s economic recovery will be stronger than expected this year but US sanctions, a poor vaccination rate and the central bank’s monetary tightening will all weigh on the growth outlook, the World Bank said on Wednesday.

Rising prices, supply chain disruption and staff shortages put the brakes on the recovery of Britain’s construction sector last month, a survey showed on Wednesday, adding to signs that economic growth has taken a hit recently.