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Putin, Saudi leader urge oil cooperation as prices flag

The leaders of Saudi Arabia and Russia used a rare face-to-face meeting to urge oil producers to stick to pledged supply cuts, a joint statement said Thursday.

Russian President Vladimir Putin's trip to the Saudi capital a day earlier came as oil prices continued to slide, with US oil finishing below $70 per barrel for the first time since July.

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China's exports in November edged higher for the first time in 7 months, while imports fell

China's exports rose in November, the first increase since April, while imports fell, according to customs data released Thursday.

Exports rose 0.5% from a year earlier to $291.9 billion, a sign that demand may be picking up after months of decline. But imports fell 0.6%, to $223.5 billion, after they climbed 3% in October.

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World shares fall, tracking Wall Street retreat, on worries over slowing growth

Shares have fallen in Europe and Asia, tracking a retreat on Wall Street as investors grow wary over signs growth is slowing in Germany and other major economies.

U.S. futures edged lower and oil prices rose.

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Gates Foundation takes on poverty in the US with $100 million commitment

In recent years, city leaders in Grand Island, Nebraska, observed that many workers and students were walking or biking long distances to their jobs or schools. So when city administrator, Laura McAloon, learned of an opportunity to study the development of a bus system to meet those transportation needs, she jumped at it.

The opportunity was funded by the Bill & Melinda Gates Foundation, in collaboration with the International City/County Management Association, a network of local government administrators. And it sent McAloon to Washington along with other local leaders to learn about strategies and policies to lift people in their community out of poverty.

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Divides over trade and Ukraine are in focus as EU and China's leaders meet in Beijing

A top European Union official told Chinese leader Xi Jinping on Thursday that China and the EU must address both the imbalances in their trading relationship and Russian aggression against Ukraine.

The two are divided on both issues. European Commission President Ursula von der Leyen, meeting Xi in the Chinese capital, said they need to manage their differences responsibly.

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Banks ask state to pay its BDL debt to allow them to pay depositors

Eleven Lebanese banks on Wednesday submitted a memo to the Finance Ministry demanding that the Lebanese state pay its debts and obligations to the Central Bank (BDL) to allow it to pay its obligations to the Lebanese banks, to allow them in turn to return the trapped funds to depositors, the Association of Banks in Lebanon (ABL) said.

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Turkey's inflation ticks up to 62%

Turkey's annual inflation rate ticked up slightly in November, the state statistics agency said on Monday, showing further signs of levelling off following a series of sharp interest rate hikes.

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Gold hits record high as equities weaken

Gold hit a record high Monday as growing optimism that the Federal Reserve will cut U.S. interest rates in the new year has dented the dollar in recent weeks.

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Spanish newspaper association files multimillion-euro suit against Meta over advertising practices

A Spanish association representing more than 80 newspapers has filed a lawsuit against Facebook parent Meta accusing it of unfair competition in online advertising by allegedly ignoring European Union rules on data protection.

In a statement, the Information Media Association said it is demanding 550 million euros ($600 million) from the social media giant. The association represents dozens of newspapers including Spain's principal dailies El País, El Mundo, ABC and La Vanguardia.

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Economists say US inflation will keep cooling, economy can avoid recession

Most business economists think the U.S. economy could avoid a recession next year, even if the job market ends up weakening under the weight of high interest rates, according to a survey released Monday.

Only 24% of economists surveyed by the National Association for Business Economics said they see a recession in 2024 as more likely than not. The 38 surveyed economists come from such organizations as Morgan Stanley, the University of Arkansas and Nationwide.

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