Economic News
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Colombia: President-elect looks to build governing coalition
President-elect Gustavo Petro, who has vowed to lift up Colombia’s poor and disenfranchised, has won the support of an influential party of the establishment as he tries to build a majority coalition in Congress
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All big US banks pass Fed's annual 'stress tests'
The nation’s 3 biggest banks have enough capital to withstand a severe economic contraction
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European Union makes Ukraine a candidate for EU membership
The European Union’s leaders have agreed to make Ukraine a candidate for EU membership, setting in motion a potentially yearslong process that could draw the embattled country further away from Russia’s influence and bind it more closely to the West
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Nigerians blame fuel shortage on Ukraine war, fixed prices
Nigeria is grappling with widespread fuel shortages that are forcing motorists to spend hours in lines to buy gas and causing prices to surge for transportation and basic commodities
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EXPLAINER: Why Sri Lanka's economy collapsed and what's next
Sri Lanka’s prime minister says the island nation's debt-laden economy has “collapsed” as it runs out of money to pay for food and fuel
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Powell: Fed must convince public it can tame inflation
As if their job weren’t hard enough at a time of raging inflation, Chair Jerome Powell and his Federal Reserve colleagues have to do more these days than decide just how much to raise interest rates without triggering a recession
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Black veteran groups seek policy agenda on racial inequities
A coalition of former and current service members is holding the first-ever conference for Black veterans in the nation’s capital Thursday
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Average long-term US mortgage rates inch up to 5.81%
Average long-term U.S. mortgage rates inched up this week following last week’s mammoth jump, the biggest in 35 years
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China's Xi criticizes sanctions at meeting of BRICS nations
Chinese President Xi Jinping has opened a meeting of leaders of major developing countries by saying the world should oppose unilateral sanctions and efforts by some countries to maintain their political and military power
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3 summits offer test of Western unity, dominated by Ukraine
Three consecutive summits over the next week will test Western resolve to support Ukraine and the extent of international unity as rising geopolitical tensions and economic pain cast an increasingly long shadow
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