Joe Biden has held his second call with Chinese leader Xi Jinping since becoming US president in an effort to break an impasse in the relationship between the countries after two rounds of top-level meetings produced little progress. The White House said the two leaders had a “broad, strategic discussion” and that Biden had “underscored
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Hedge funds are elbowing their way into Silicon Valley at an unprecedented rate with a record-smashing $153bn worth of investments in private companies in just the first six months of 2021. A report from Goldman Sachs has found that hedge funds have done 770 deals so far this year, already beating the record number of
Janet Yellen has warned that the US Treasury will run out of cash next month unless Congress increases the borrowing limit, as Joe Biden’s administration grows increasingly worried about a possible debt default. In a letter to congressional leaders on Wednesday, the US Treasury secretary said she could not offer “a specific estimate” of when
An executive with responsibility for Apple’s secretive car project has left for Ford in a stinging departure that potentially spells the end of the iPhone maker’s automotive ambitions. Doug Field, who joined Apple in 2018 as vice-president for special projects from Tesla, will become Ford’s chief advanced technology and embedded systems officer with immediate effect, the
Germany has accused Russia of launching a spate of cyber attacks on politicians amid suspicions that Moscow is interfering in this month’s election to decide who succeeds Angela Merkel as chancellor. Germany’s foreign ministry said it held Russia responsible for illegally targeting a number of national and regional politicians with “phishing” emails to gain access
A frantic summer of dealmaking has put 2021 on track to break records, with almost $4tn of deals already agreed since the start of the year, as companies rush to exploit cheap financing and bumper profits. There were $500bn of transactions globally in the usually quiet month of August, up from $289bn in the same
A sharp slowdown in US jobs growth precludes the possibility that the Federal Reserve will announce plans this month to begin scaling back its pandemic-era stimulus, economists say, as the spread of the Delta coronavirus variant muddies the economic outlook. Following very strong payrolls reports in June and July, the US central bank readied for
The US economy created just 235,000 jobs in August, in a sign that the more contagious Delta coronavirus variant is having an effect on hiring plans and worker shortages are still rampant nationwide. Non-farm payrolls data released by the Bureau of Labor Statistics on Friday marked a sharp deceleration from the upwardly revised 1.1m jobs
At least 45 people died in six states in the Eastern US after the remnants of Hurricane Ida dumped record-breaking rainfall that caused flash floods across the region late on Wednesday. New Jersey governor Phil Murphy said at least 23 people had perished in his state, most of them after becoming trapped in cars that
YouTube’s paid music streaming services have amassed 50m subscribers, a milestone for Google as it competes with Amazon, Apple and Spotify in the fiercely competitive market. After a slow start since launching in 2018, YouTube’s music streaming services have attracted millions of new paying users in recent months to reach 50m subscribers in August, according
Joe Biden is poised to launch his most forceful defence yet of America’s chaotic pullout from Afghanistan, a day after the last US troops flew out of Kabul airport ending their 20-year military presence in the country. In remarks scheduled for 2.45pm local time at the White House, the US president will attempt to put
The US dramatically scaled back its evacuation mission in Afghanistan on Monday with the number of civilians being airlifted out of Kabul falling sharply as its forces scramble to withdraw ahead of Tuesday’s deadline to end the 20-year war. Pentagon spokesperson John Kirby said military commanders were sharing some drawdown logistics with Taliban commanders to
The US launched a drone strike to protect the Kabul evacuation effort on Sunday, as the Biden administration and its European allies promised to help people leave Afghanistan after Tuesday’s deadline for withdrawal. The US military said it had carried out a “self-defence” air strike on a vehicle in the Afghan capital, which posed an “imminent
The US has carried out a drone strike in eastern Afghanistan against an Isis-K “planner” behind the deadly attack on Kabul airport on Thursday, as countries wrap up desperate efforts to evacuate thousands of Afghans trying to flee. According to US Central Command on Friday night, American forces conducted an “over-the-horizon counter-terrorism operation” in Nangarhar
Jay Powell has sent his strongest signal yet that the Federal Reserve could start dialling back its massive pandemic-era stimulus programme this year, declaring “clear progress” in the recovery of the US labour market. In a closely watched virtual speech at the Jackson Hole gathering of central bankers on Friday, Powell said the US central
The US has warned American citizens to avoid Kabul airport because of security threats, just hours after secretary of state Antony Blinken urged the Taliban to ensure “safe passage” for people seeking to flee Afghanistan. The deteriorating security situation at the airport has been a mounting concern for US and western officials trying to evacuate
Delta Air Lines said it would start charging unvaccinated employees enrolled in its healthcare plan an additional $200 a month, becoming the latest US company to cajole workers into having the Covid-19 jab. The first fully-fledged approval of a vaccine this week by the US Food and Drug Administration, which gave a green light to
Joe Biden is sticking by his plan to withdraw US troops from Afghanistan by the end of the month, defying international pressure, including from key European allies, to allow more time for evacuations. The US president’s decision caps days of uncertainty about the fate of the August 31 deadline for the final pullout of American
US president Joe Biden urged employers to require workers to get vaccinated against Covid-19 after the Food and Drug Administration granted full approval to the BioNTech/Pfizer jab. “If you’re a business leader, a non-profit leader, the state and local leader, who has been waiting for full FDA approval to require vaccinations. I’m calling on you
Boris Johnson, UK prime minister, will on Tuesday host crisis talks on Afghanistan with world leaders, as Britain presses the US to extend the evacuation timetable amid chaos and deaths at Kabul airport. Johnson, as chair of the G7, will hold talks that will include evacuation arrangements for western nationals and Afghan citizens, with Britain