President-elect Donald Trump on Friday threatened the European Union with tariffs if the bloc does not reduce its "tremendous" trade gap with Washington through oil and gas purchases.
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Key Fed inflation measure shows 2.4% rate in November, lower than expected
The PCE price index was expected to show a 2.5% annual inflation rate in November after rising 0.2% monthly.
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Russian central bank surprises markets by holding key rate at 21%
Russia's central bank on Friday left its key interest rates unchanged at 21%, citing monetary tightness as Moscow wages its ongoing battle with sky-scraping inflation.
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Key Inflation Gauge Subsides to 2.4% in November
Monthly inflation subsided in November after showing little improvement in recent months. The personal consumption expenditures (PCE) price index rose 0.1% last month after an unrevised 0.2% gain in October.
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US Economy Eyes Strong Finish But Uncertainty in 2025
The number of Americans filing new applications for jobless benefits fell more than expected last week, almost reversing the prior two weeks' increases and suggesting that a gradual labor market slowdown remained in place.
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GOP Senators: End Science, Tech Alliance With China
A group of Republican senators is demanding that the Biden administration revoke a science and technology agreement with China, barely a week after the two countries renewed cooperation for five more years to keep ties from deteriorating.
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