Category: Economy
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Oil prices drop 1% on fears of weaker demand
By Erwin Seba HOUSTON (Reuters) -Oil prices settled down 1% on Monday, after six straight weekly gains, as investors braced for weaker demand from China and the United States, the world’s two biggest economies. Brent crude settled 90 cents, or 1.04% lower, at $85.34 a barrel. U.S. West Texas Intermediate crude settled down 88 cents,…
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Biden signs law implementing first part of U.S. trade pact with Taiwan
WASHINGTON (Reuters) – U.S. President Joe Biden signed legislation on Monday implementing the U.S. and Taiwan’s “21st Century” trade initiative and issued a statement saying certain sections of the law “raise constitutional concerns.” Biden said he would treat those sections, which require transmission of trade deal drafts to Congress, as non-binding if they “impermissibly infringe…