Tesla's second-quarter deliveries rose 83% from a year ago after the company cut prices several times on its four electric vehicle models and buyers took advantage of U.S. government tax credits.

The Austin, Texas, producer of EV, solar panels and batteries said Sunday that it sold a record 466,140 vehicles worldwide from April through June, nearly doubling the 254,695 it sold during the same period a year earlier. The vast majority of the sales were Tesla's popular Model 3 and Model Y versions.

Treasury Secretary Janet Yellen will travel to Beijing Thursday as part of an ongoing Biden administration effort to thaw U.S.-China relations, a senior Treasury official said Sunday.

Yellen, who has called the notion of an economic decoupling from China "disastrous," has frequently said in the past year that she would like to visit China. She says the two nations "can and need to find a way to live together" in spite of their strained relations over geopolitics and economic development. Yellen will meet this week with Chinese officials, U.S. companies doing business in China and with Chinese people and will stay through July 9, said the official, who spoke on condition of anonymity to discuss details of the trip.

World shares rose Monday as investors took heart from reports that show inflation is abating, which might enable the Federal Reserve to back away from interest rate hikes.

U.S. futures were mixed and oil prices edged higher.

Thousands of hotel workers in Southern California have walked off the job demanding higher pay and better benefits in what the union is calling the largest strike in its history.

Cooks, room attendants, dishwashers, servers, bellmen and front desk agents at hotels were picketing outside major hotels in Los Angeles and Orange counties just as the summer tourist is ramping up.

Saudi Arabia announced on Monday it was extending a voluntary oil production cut of one million barrels per day, in a bid to prop up slumping prices.

The cut which first took effect for July will continue in August and "can be extended", the official Saudi Press Agency (SPA) reported, citing an energy ministry source.

France has charged a former assistant of Riad Salameh, the governor of Lebanon's central bank and a subject of judicial probes at home and abroad, with money laundering.

Without reforms, Lebanon will continue to see triple-digit inflation, and public debt in the small, crisis-ridden country could reach nearly 550% of GDP by 2027, the International Monetary Fund warned in a report.

The report came as a follow-up to a nine-day visit by IMF officials in March.

Japan announced a decision Tuesday to reinstate South Korea as a preferred nation with fast-track trade status starting July 21, virtually ending a four-year economic row that was further strained during their bitter historic disputes.

Trade Minister Yasutoshi Nishimura told reporters that Japan and South Korea have also agreed to set up a framework to review and follow up on the systems as needed.

Farmers markets gave people something they desperately sought during the pandemic: A place to shop outdoors, and at the same time support smaller, often local businesses.

The markets are now building on that goodwill as the customers that became regulars and the vendors who set up shop in 2021 and 2022 return for the new season. Back in 2020, the markets were deemed non-essential and had been forced to close. Small vendors ranging from farm stands to dog treat makers say the markets offer them access to customers and a connection to the community.

European Central Bank President Christine Lagarde warned Tuesday that inflation is holding its grip on the economy and underlined that the bank intends to raise rates high enough to "break this persistence."

Lagarde acknowledged that inflation has fallen from all-time highs last year as energy prices plunged and the bank rolled out a rapid series of rate increases, which are meant to fight price spikes by making it more expensive for consumers and businesses to borrow and spend.