The UK’s sovereign rating was downgraded one level by Moody’s on Friday to Aa2, two notches below the highest opinion bestowed by the US credit rating agency, as Brexit pressures the country’s economic strength and the country’s debt levels rise.
Senator John McCain said on Friday he cannot “in good conscience” vote for the healthcare bill drafted by Republican senators Lindsey Graham and Bill Cassidy, delivering a fresh blow to Republican efforts to repeal and replace Obamacare.
The head of the San Francisco Federal Reserve has shrugged off concerns over the recent persistent inflation under-shooting, arguing that the “strong” economy meant he felt confident that prices would rise and justify higher interest rates.
The future of the US solar power industry has been placed in the hands of President Donald Trump, after the country’s International Trade Commission ruled that domestic panel manufacturers had suffered “serious injury” from foreign competitors.
The EU’s chief Brexit negotiator has welcomed Theresa May’s landmark Florence speech aimed at advancing stuttering talks between the two sides, saying Brussels will consider the UK’s desire for a “time limited” transition period and the government’s promise to honour its financial commitments to the bloc.
Sandro Gozi, Italy’s EU minister who was in the audience, told the FT Mrs May took “steps forward” on citizens’ rights, and said the pledge on the transition period was “good” and would help the “financial negotiation”.
Russia’s energy minister said on Friday some of the world’s biggest oil producers had discussed extending a deal to curb supplies even as their drastic cuts were working to bring down global excess inventories.