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Beijing has lashed out at the US decision to shoot down a Chinese balloon that flew across North America this week, accusing the Biden administration of “seriously violating international conventions”. The Chinese foreign ministry said it “repeatedly” told the US the balloon was for “civilian use” and had entered American airspace by accident due to
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US jobs growth unexpectedly rebounded in January, as the economy continued to perform strongly despite the Federal Reserve’s efforts to damp down demand. Employers in the world’s largest economy added 517,000 jobs in the first month of the year, nearly double December’s figure, which was revised up to 260,000. Economists had expected 185,000 positions to
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Indian billionaire Gautam Adani has completed a $2.4bn equity sale despite a short-seller report alleging fraud and stock manipulation at his industrial empire. The fundraising at Adani Enterprises became a test of investor faith after short-seller Hindenburg Research last week released its report alleging financial misconduct at the conglomerate’s parent company. On Tuesday, investors subscribed
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US economic growth slowed marginally in the final quarter of 2022, as the Federal Reserve’s aggressive campaign to raise borrowing costs began to weigh more heavily on business activity. The world’s largest economy expanded 2.9 per cent on an annualised basis between September and December, according to data published by the Commerce department on Thursday,
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Germany is to supply 14 Leopard 2 tanks to Kyiv, a significant ramping up of western military aid that was condemned by Russia and prompted cheers throughout Ukraine. Chancellor Olaf Scholz announced the move at a cabinet meeting on Wednesday, describing it as the result of “intensive consultations that have taken place between Germany and
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UK public sector borrowing more than doubled last month to hit the highest December figure on record, driven up by higher debt interest payments and the government’s measures to help households and businesses with soaring energy prices. Public sector net borrowing hit £27.4bn last month, up from a revised £10.7bn in the same month in
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Germany dashed its allies’ hopes that it would approve the dispatch of battle tanks to Ukraine on Friday when a high-profile defence ministers’ meeting failed to reach an agreement. Many western countries argue that the German-made Leopard 2 battle tanks would greatly help Kyiv mount a counteroffensive against Russia, but Berlin has yet to agree,
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Google has announced it will axe 12,000 staff, joining its peers in the technology world that have responded to economic pressures with a wave of job cuts. The cuts will affect around 6 per cent of the total workforce of its owner Alphabet and forms part of an industry-wide cull that has affected more than
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