By David Brunnstrom WASHINGTON (Reuters) – A 45-day stopgap measure passed by the U.S. Congress to avert a government shutdown has left potential funding shortfalls for strategic Pacific island states, which analysts and former officials say makes the U.S. allies economically vulnerable and possibly more receptive to Chinese approaches. The…

President Joe Biden on Friday said it’s possible he’ll meet with Chinese President Xi Jinping next month. “It is a possibility,” Biden told reporters, but such a meeting hasn’t been set up. The Washington Post reported Thursday that the White House has begun to make plans for a November meeting…

By David Randall and Davide Barbuscia NEW YORK (Reuters) – Bond investors’ rising concerns around U.S. government spending and its ballooning budget deficit are contributing to a steep sell-off that has pushed Treasury prices to 17-year lows. So-called bond vigilantes – investors who punish profligate governments by selling their bonds,…

Exxon Mobil Corp. XOM, -1.67% is reportedly nearing a deal to buy energy-exploration company Pioneer Natural Resources Co. PXD, +10.45% for $60 billion, a combination that could shake up Texas’ storied and oil-rich Permian Basin. It’s also bound to attract attention from the Biden Administration’s antitrust enforcers, including Federal Trade…

By Steve Holland WASHINGTON (Reuters) – U.S. President Joe Biden announced on Wednesday that his administration has approved an additional $9 billion in student debt relief for 125,000 borrowers. Biden has said he will pursue new measures to provide student loan relief to Americans after the Supreme Court blocked his…

Buyers of electric vehicles will soon be able to get a federal tax credit at the dealership rather than waiting for months. Under changes announced Friday by the Treasury Department, eligible buyers will no longer have to wait until filing federal income tax returns to get benefits. Beginning Jan. 1,…

Amid a severe economic crisis and 95% food inflation, Sri Lanka is planning to dismantle social security systems such as the Employees Provident Fund and Employees Trust Fund as part of an austerity response, as of Thursday. The International Monetary Fund (IMF) and World Bank have proposed measures including doubling…

By Ahmed Aboulenein and Steve Gorman WASHINGTON (Reuters) -Kaiser Permanente and union negotiators for 75,000 striking medical workers suspended a marathon round of contract talks without a settlement on Wednesday, the two sides said, hours after the largest such walkout ever in the U.S. healthcare sector commenced. Kaiser said in…

Mortgage rates rose for the fourth week in a row, amid uncertainty over whether the U.S. Federal Reserve will hike interest rates. The 30-year fixed-rate mortgage averaged 7.49% as of October 5, according to data released by Freddie Mac FMCC, +1.27% on Thursday.  It’s up 18 basis points from the…

SEOUL (Reuters) – South Korea’s central bank governor said there was a high possibility interest rates would stay higher for longer and there was a need to improve the system to better supply liquidity in case of unexpected financial instability. Bank of Korea (BOK) Governor Rhee Chang-yong made the remarks…