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Global stock markets are mostly higher after strong U.S. jobs data cleared the way for more interest rate hikes and China reported Monday that its exports rose by double digits. Shares opened higher in London, Paris and Frankfurt after gains in most Asian markets. Oil prices edged higher. Wall Street’s benchmark S&P 500 declined after American employers added more jobs than expected in June. That undercut expectations a slowing economy might prompt the Fed to postpone or scale back plans for more rate hikes to cool inflation. China’s exports in July surged 18% from a year earlier.

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Asian stock markets are mixed after strong U.S. jobs data cleared the way for more interest rate hikes and China reported its exports rose by double digits. Shanghai and Tokyo advanced while Hong Kong and Seoul retreated. Oil prices edged higher. Wall Street’s benchmark S&P 500 declined on Friday after American employers added more jobs than expected in June. That undercut expectations a slowing economy might prompt the Fed to postpone or scale back plans for more rate hikes to cool inflation. Markets also have been rattled by Russia’s war on Ukraine and uncertainty about Chinese anti-virus curbs that have disrupted manufacturing and shipping. China’s exports in July surged 18% from a year earlier.

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Israeli airstrikes have flattened homes in Gaza and Palestinian rocket barrages into southern Israel are persisting for a second day, raising fears of another major escalation in the Mideast conflict. Gaza’s health ministry said on Saturday that 24 people had been killed so far in the coastal strip, including six children and two women. The fighting began with Israel’s targeted killing of a senior commander of the militant Islamic Jihad group on Friday. Gaza’s Hamas rulers so far appear to be staying on the sidelines, keeping the conflict's intensity somewhat contained, for now. The Israeli military says an errant rocket fired Saturday by Palestinian militants killed civilians, including children, in northern Gaza.

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Stocks are closing mostly lower Friday after new data on the hot U.S. jobs market suggested the Fed won’t soon rein in its aggressive rate hikes. The S&P 500 is down 0.2% and the Nasdaq lost 0.5%, while the Dow Jones industrials notched a small gain. Employers unexpectedly accelerated their hiring last month and added hundreds of thousands more jobs than forecast. While the data suggests the economy may not be in a recession, it also undercuts investor hopes that inflation may be close to peaking. Treasury yields jumped. Warner Bros. Discovery had its third worst day ever after recording weak second quarter results.

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U.S. employers added an astonishing 528,000 jobs last month despite flashing warning signs of an economic downturn, easing fears of a recession and handing President Joe Biden some good news heading into the midterm elections. Unemployment dropped another notch, from 3.6% to 3.5%, matching the more than 50-year low reached just before the pandemic took hold. The economy has now recovered all 22 million jobs lost in March and April 2020 when COVID-19 slammed the U.S. The red-hot numbers were reported Friday by the Labor Department. Economists had expected only 250,000 new jobs last month, in a drop-off from June’s revised 398,000. Instead, July proved to be the best month since February.

The U.S. ambassador to the United Nations says African nations are free to buy grain from Russia but could face consequences if they trade in U.S.-sanctioned commodities such as Russian oil. Linda Thomas-Greenfield spoke in the Ugandan capital, Kampala, after a meeting with President Yoweri Museveni, a U.S. ally who has not criticized Russia’s invasion of Ukraine and has expressed sympathy with Moscow. Uganda is the U.S. official’s first stop on an African tour. Her trip comes a week after the Africa visit of Sergey Lavrov, the Russian foreign minister, who dismissed charges that his country’s invasion of Ukraine is solely responsible for a dangerous food crisis in countries ranging from Somalia to South Sudan.

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The Bank of England has announced its biggest interest rate increase in 27 years. The central bank forecasts that the war in Ukraine will fuel further inflation and tip the U.K. economy into a prolonged recession. Soaring natural gas prices are likely to drive consumer price inflation to 13.3% in October. That's up from 9.4% in June. That will push Britain into recession later this year. Central banks worldwide are struggling to balance efforts to control inflation while minimizing the fallout for economies that were just beginning to recover from the coronavirus pandemic.

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Stocks were mixed in afternoon trading on Wall Street Thursday as investors continued to review the latest updates on the economy and corporate earnings. The S&P 500 fell less than 0.1%. The Dow Jones industrials fell and the Nasdaq rose. Energy companies fell, while retailers and industrial firms gained ground. Bond yields slipped. Earnings remain in focus for Wall Street. Twinkie maker Hostess and bleach maker Clorox fell after giving investors disappointing profit forecasts. New data from the Labor Department showed more Americans applied for jobless benefits last week as the number of unemployed continues to rise modestly.

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An international human rights group says Sri Lanka’s government is using emergency laws to harass and arbitrarily detain protesters who are seeking political reform and accountability amid the island country’s economic crisis. Human Rights Watch says the military has sought to curtail protests through intimidation, surveillance, and arbitrary arrests of demonstrators, activists, lawyers, and journalists since President Ranil Wickremesinghe took office last month. Wickremesinghe, who had ordered arrests of protesters, has said the protests started peacefully, but groups with political interests took over later and became violent. Human Rights Watch said Sri Lanka's crackdown on protesters appeared to be an attempt to divert attention from the country’s urgent economic crisis.

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Asian shares are mostly higher as investors welcome encouraging economic data and quarterly earnings reports from big companies. Benchmarks rose Thursday across the region, including Japan, China, Australia and South Korea. The gains followed a strong rally on Wall Street. Jitters eased over the visit of U.S. House Speaker Nancy Pelosi to Taiwan after she left for South Korea and then later Japan, firm U.S. allies for decades. But analysts said some geopolitical risks remain, with China conducting military exercises near the self-ruled island that it claims as its own territory. Investors are also watching U.S. nonfarm payrolls for indications on hiring.

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After 13 years, at least three crashes, dozens of scams and Ponzi schemes and hundreds of billions of dollars made and evaporated, cryptocurrencies finally have the full attention of Congress. Lawmakers and lobbyists have papered Capitol Hill with proposals on how to regulate the industry. A proposal Wednesday from Democratic Sen. Debbie Stabenow of Michigan and Republican Sen. John Boozman of Arkansas would hand the regulatory authority over Bitcoin and Ether to the Commodities Futures Trading Commission. Bills proposed by other members of Congress and consumer advocates have suggested giving the authority to the Securities and Exchange Commission.

Benchmark U.S. crude oil for September delivery fell $3.76 to $90.66 a barrel Wednesday. Brent crude for October delivery fell $3.76 to $96.78 a barrel. Wholesale gasoline for September delivery fell 15 cents to $2.91 a gallon. September heating oil rose 3 cents to $3.41 a gallon. September natural gas rose 56 cents to $8.27 per 1,000 cubic feet. Gold for December delivery fell $13.30 to $1,776.40 an ounce. Silver for September delivery fell 25 cents to $19.89 an ounce and September copper fell 5 cents to $3.47 a pound. The dollar rose to 134.12 Japanese yen from 133 yen. The euro fell to $1.0154 from $1.0174.

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The OPEC oil cartel and its allies have decided to boost production in September by a much slower pace than in previous months. The move Wednesday comes amid high gasoline prices and unstable energy supplies exacerbated by the war Russia is waging on Ukraine. OPEC, led by Saudi Arabia, and its allies, led by Russia, say they will increase output to 100,000 barrels a day next month after raising it by 648,000 barrels per day in July and August. It comes after U.S. President Joe Biden visited Saudi Arabia last month, aiming to improve relations and encourage more oil production from OPEC to draw down high prices at the pump.

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Sri Lanka’s new president says his government is preparing a national policy roadmap for the next 25 years that aims to cut public debt and turn the country into a competitive export economy as it seeks a way out of its worst economic disaster. President Ranil Wickremesinghe in his speech to Parliament said Sri Lanka needs long-term solutions and a strong foundation to stop a recurrence of economic crises. Public protests have blamed Wickremesinghe’s ousted predecessor, Gotabaya Rajapakasa, and his family for years of mismanagement that have bankrupt the nation and led to shortages of essential imports. Many still accuse Wickremesinghe of trying to protect the former leader. Wickremesinghe says his government commenced the finalization of a debt restructuring plan.

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Annual inflation in Turkey soared to nearly 80% in July. The Turkish Statistical Institute said Wednesday that consumer prices rose by 79.6% from a year earlier, up about 1 percentage point from June data. Skyrocketing food, housing and energy prices have hit Turkish consumers hard. Independent experts say inflation is much higher than official statistics. Economists also say the huge rise in inflation is caused by President Recep Tayyip Erdogan’s unorthodox belief that high borrowing costs lead to inflation despite established economic theory. Turkey’s central bank slashed interest rates by 5 percentage points since September. While the bank has not made further cuts this year, central banks across the world are moving the opposite way.

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Baseball’s trade deadline day was an action-packed affair — and no one had more fun than the Padres. San Diego made the biggest splash, acquiring Juan Soto in a massive deal with the Washington Nationals. The sweet-swinging Soto, still just 23 years old, joins Manny Machado in the middle of the Padres’ order, and Fernando Tatis Jr. is on his way back after being sidelined by a broken left wrist. The Cardinals and Yankees also swapped big leaguers, with Gold Glove-winning center fielder Harrison Bader going to New York in exchange for left-handed starter Jordan Montgomery.

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U.S. stocks are drifting between gains and losses Tuesday as Wall Street debates whether the market’s strong recent run is the start of a turnaround or a temporary blip.  The S&P 500 was 0.2% lower in afternoon trading. The Nasdaq was clinging to a small gain, but the Dow was falling following a disappointing report on revenue from Caterpillar. Treasury yields climbed as concerns over the first visit by a U.S. Speaker of the House to Taiwan in 25 years eased.

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The deadly flooding that hit the Appalachian region of eastern Kentucky is making some stalwart residents who have hung on through disappearing jobs and the opioid crisis consider leaving their small towns. Brenda Francis and her husband, Paul, have lived in Garrett for decades. Paul Francis was born 73 years ago in their house, which his parents gifted to the couple about 40 years ago. But Brenda Francis said she is done. She joins many others who see this latest disaster as a devastating final blow to their lifestyle here. Some say they’re considering moving away, despite their deep roots.

American basketball star Brittney Griner is back in court for her trial for cannabis possession amid U.S. diplomatic efforts to secure her release. The WNBA star and two-time Olympic gold medalist returned to court on Tuesday, a month after her trial began. She could face 10 years in prison if convicted. As her trial has progressed, the Biden administration has faced growing public pressure to get her released. In an extraordinary move, Secretary of State Antony Blinken last week spoke to his Russian counterpart, Sergey Lavrov, urging him to accept a deal under which Griner and Paul Whelan, an American imprisoned in Russia on an espionage conviction, would go free.

American basketball star Brittney Griner is back in court for her trial for cannabis possession amid U.S. diplomatic efforts to secure her release. The WNBA star and two-time Olympic gold medalist returned to court on Tuesday, a month after her trial began. She could face 10 years in prison if convicted. As her trial has progressed, the Biden administration has faced growing public pressure to get her released. In an extraordinary move, Secretary of State Antony Blinken last week spoke to his Russian counterpart, Sergey Lavrov, urging him to accept a deal under which Griner and Paul Whelan, an American imprisoned in Russia on an espionage conviction, would go free.

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Sri Lankans have endured months of fuel and food shortages. Now they are bracing for more pain as their newly appointed leaders scramble to find solutions to the South Asian country's economic emergency. Major lenders like the World Bank have signaled that more financial help will hinge on progress on difficult reforms and restructuring of Sri Lanka's more than $51 billion in debt. Despite their frustrations with soaring prices and scarce access to necessities like food and medicines, many Sri Lankans are pinning their hopes on newly appointed President Ranil Wickremesinghe. But they say he must deliver results or will face a resurgence of protests like those that toppled the previous government.

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Asian shares are mostly lower amid concerns about regional stability as an expected visit by U.S. House Speaker Nancy Pelosi to Taiwan prompted threats from Beijing. Benchmarks headed downward across the board in the region in early trading, including Japan, China, South Korea and Australia. Communist-ruled China sees Taiwan as its own territory and has repeatedly issued warnings against her visiting the island democracy. Pelosi, who heads the legislative branch of the U.S. government, has said she is visiting Singapore, Malaysia, South Korea and Japan for talks on a variety of topics, including trade, COVID-19, climate change and security. Stocks finished lower on Wall Street.

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The Treasury Department is seeking to borrow $444 billion in the current quarter through September as the Federal Reserve tightens its portfolio. Figures released Monday by the department show that to be a $262 billion increase compared to estimates announced in May, a sign that the federal government will need to be more reliant on debt. A Treasury official told reporters on the condition of anonymity that the department was now expecting to collect less in taxes than initially forecast. The additional debt during the July to September quarter is also due in part to the Fed's decision in May to scale back its holdings of Treasury notes, which caused the government to rely on private and foreign investors.

Since Brittney Griner last appeared in her trial for cannabis possession, the question of her fate has expanded from a cramped courtroom on Moscow’s outskirts to the highest level of Russia-U.S. diplomacy. The WNBA star and two-time Olympic gold medalist is to return to court on Tuesday. That is a month after the beginning of the trial in which she could face 10 years in prison if convicted. As the trial has progressed, the Biden administration has faced rising calls for action to win her release. In an extraordinary move, Secretary of State Antony Blinken last week spoke to his Russian counterpart Sergey Lavrov, urging him to accept a deal under which Griner and Paul Whelan, an American imprisoned in Russia on an espionage conviction, would go free.

Since Brittney Griner last appeared in her trial for cannabis possession, the question of her fate has expanded from a cramped courtroom on Moscow’s outskirts to the highest level of Russia-U.S. diplomacy. The WNBA star and two-time Olympic gold medalist is to return to court on Tuesday. That is a month after the beginning of the trial in which she could face 10 years in prison if convicted. As the trial has progressed, the Biden administration has faced rising calls for action to win her release. In an extraordinary move, Secretary of State Antony Blinken last week spoke to his Russian counterpart Sergey Lavrov, urging him to accept a deal under which Griner and Paul Whelan, an American imprisoned in Russia on an espionage conviction, would go free.

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