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China tested a nuclear-capable hypersonic missile in August that circled the globe before speeding towards its target, demonstrating an advanced space capability that caught US intelligence by surprise. Five people familiar with the test said the Chinese military launched a rocket that carried a hypersonic glide vehicle which flew through low-orbit space before cruising down towards its target.
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Japan’s new prime minister has pledged to move the country away from neoliberal fundamentalism as he lambasted his own party’s failure to deliver broad-based growth under the Abenomics programme that defined the economy for almost a decade. In his first interview with international media since taking over Japan’s leadership this month, Fumio Kishida told the
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The EU will be making a “historic misjudgement” if it fails to agree to rewrite the Brexit deal that covers trading arrangements for Northern Ireland, the UK warned on Tuesday. In an uncompromising speech, UK Brexit minister Lord David Frost warned that “fractious” relations between the two sides would not find a new equilibrium unless
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Henry Kravis and George Roberts, who made their first billions by striking deals that pulverised other people’s corporate empires, stepped down from KKR on Monday after nearly half a century in charge of one of the most formidable financial enterprises that Wall Street has ever known. Companies owned by KKR today employ far more people,
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Republicans and Democrats in Congress opened the door to a temporary solution to America’s debt ceiling crisis on Wednesday, saying they would consider a stop-gap measure extending the country’s borrowing limit until December. The potential breakthrough came after Mitch McConnell, the Senate’s top Republican, offered to support a short-term extension of the nation’s debt limit
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Joe Biden insisted Democrats would pass his ambitious domestic spending agenda despite interparty feuding that has stymied its passage, saying “we’re going to get this done” after a rare Capitol Hill visit to lobby lawmakers. Nancy Pelosi, the Democratic Speaker of the House of Representatives, was due to bring the US president’s $1.2tn infrastructure legislation
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Nancy Pelosi appeared determined to press ahead with a make-or-break vote on Joe Biden’s $1.2tn bipartisan infrastructure bill in the US House of Representatives on Thursday, even as progressive lawmakers threatened to sink the flagship piece of the president’s legislative agenda. “We are proceeding in a very positive way to bring up the bill . . . in a
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Shares in Chinese and Hong Kong property groups fell to their lowest levels in half a decade as an escalating liquidity crisis at developer Evergrande showed signs of spreading beyond the sector. Evergrande, the world’s most indebted property developer, faces obligations of more than $300bn to creditors and other businesses and a crucial interest payment
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The multibillion-pound business of buying and selling commercial aircraft was put on hold during the Covid-19 pandemic. But a rare public spat between Ryanair boss Michael O’Leary and Boeing over the Irish airline’s latest order of 737 Max 10 jets shows the high stakes game is sputtering back to life. It is also a sign
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Advisers to the US Food and Drug Administration have begun debating whether to recommend authorising Pfizer’s application to offer widespread booster doses of its Covid-19 vaccine. Members of the regulator’s vaccine advisory committee are expected to vote at the end of Friday’s meeting on whether to endorse a third dose of the BioNTech/Pfizer vaccine. While
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Washington has launched a new trilateral security partnership with London and Canberra which will support Australia’s plan to build a fleet of nuclear-powered submarines, a move that will strengthen the allies’ ability to counter China. The move is US president Joe Biden’s latest effort to bolster alliances amid increasing tensions with China over disputes ranging
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Cryptocurrency hedge funds gained nearly 24 per cent in August as large price swings in digital asset prices helped them outperform investors in sleepy equities and currencies markets. The strong pace of gains means funds focused on bitcoin and other digital assets have returned 145 per cent this year, according to data from Eurekahedge. Crypto
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