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BBCNEWS Asia July 6, 2024

there is a roughly one in four chance that the us will hit the so called x date, when the us government runs out of money to pay its bills without a deal to raise the debt limit. that is according to the banking giantjp morgan chase. and they say the odds are getting worse. that forecast comes after house speaker kevin mccarthy said on wednesday that he thought progress could be made, but warned the two sides remain far apart. republicans are warning that any deal must cut future federal spending in exchange for raising the debt ceiling a red line for the white house. on wall street, us stocks fell as investors have been watching these talks closely for any sign of an agreement. and even if a deal is done in time, economists say that depending on the details, cuts to government spending are likely create economic headwinds that could bring down inflation a possible silver lining for the federal reserve, which has been raising interest rates to fight inflation. fed o ....

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BBCNEWS Asia July 6, 2024

has the latest from new york. there is a roughly one in four chance that the us will hit the so called x date that s when the government runs out of money to pay its bills without a deal to raise the debt limit. that is according to the banking giantjp morgan chase. and they say the odds are getting worse. that forecast comes after house speaker kevin mccarthy said on wednesday that he thought progress could be made, but warned that the two sides remain far apart. republicans are warning that any deal must cut future federal spending in exchange for raising the debt ceiling a red line for the white house. republicans are demanding that any deal must cut future federal spending in exchange for raising the debt ceiling a red line for the white house. on wall street, us stocks fell as investors have been watching these talks closely for any sign of an agreement. and even if a deal is done in time, economists say that depending on the details, cuts to government spe ....

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BBCNEWS Asia July 6, 2024

reach a deal on the country s debt ceiling, with the us house speaker kevin mccarthy saying on wednesday that negotiators remain far apart. our north america business correspondent michelle fleury has the latest from new york. there is a roughly one in clutch make chance that the us will hit the so called x date, when the us government runs out of money to pay its bills, before the dental ministries. that is according toj.p. morgan chase. they say the other any worse. debt limit raises. kevin mccarthy said he thought progress could be made but warned the two sides remain far apart. but warned the two sides remain farapart. her pub but warned the two sides remain far apart. her pub concert amending that any deal must cut future federal spending in exchange for raising the debt ceiling, a redline for the white house. on wall street, us stocks fell as investors have been watching these talks closely for any sign of agreement. and even if a deal is done in time, economis ....

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BBCNEWS Asia Business Report June 4, 2024 00:35:00

Leading position for ai related chips. nvidia is a leading maker of chips used for video games and cloud computing applications. the chinese commerce minister wang wentao is expected to meet the us trade representative katherine tai later this week. mr wang is scheduled to meet ms tai on the sidelines of the apec ministerial gathering scheduled for the 25th and 26th of may in detroit. the expected engagement comes after us presidentjoe biden said at the g7 summit in hiroshima this past weekend that the focus is on de risking confrontations with china, not de coupling. in this context, de risking is meant to be a slightly more moderate approach to reducing reliance on trade ties with china while protecting national interests and technological advances. earlier, i spoke to frank lavin, chief executive of export now and a former us ambassador to singapore. he told me any meeting between the officials would be a good gesture. i think it is an important ....

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BBCNEWS Asia Business Report June 4, 2024 01:35:00

Because the global economy actually turned up at the beginning of the year so i think recession risks in 2024 are quite high. i would give it a 40% to 50% chance that the global economoy will beat a recession. shares of nvidia have spiked in after hours trading. thejump comes after the chip maker issued a better than expected forecast when it released its quarterly earnings on wednesday. nvidia s shares have already been trending upwards this year over optimism on the company s leading position for ai related chips. nvidia is a leading maker of chips used for video games and cloud computing applications. the chinese commerce minister wang wentao is expected to meet the us trade representative katherine tai later this week. mr wang is scheduled to meet ms tai on the sidelines of the apec ministerial gathering scheduled for the 25th and 26th of may in detroit. the expected engagement comes after us presidentjoe biden said at the g7 summit in hiroshima this past weekend that the focus is ....

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