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Economy

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FRANKFURT, Germany (AP) — The European Central Bank's first climate stress test shows higher risks of loan defaults for banks in fire-plagued southern Europe and argues that an earlier and orderly shift to greener energy may have costs — but pay off for the economy over the long run.

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BEIJING (AP) — A Chinese real estate developer whose struggle to avoid defaulting on billions of dollars of debt has rattled global markets says it will pay interest due Thursday to bondholders in China but gave no sign of plans to pay on a separate bond abroad.

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WASHINGTON (AP) — The House voted late Tuesday to keep the government funded, suspend the federal debt limit and provide disaster and refugee aid, setting up a high-stakes showdown with Republicans who oppose the package despite the risk of triggering a fiscal crisis.

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BEIJING (AP) — The Beizhong International Travel Agency in the eastern city of Tianjin has had only one customer since coronavirus outbreaks that began in July prompted Chinese leaders to renew city lockdowns and travel controls.

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NEW YORK (AP) — In the midst of difficult negotiations for a new collective bargaining agreement, Major League Baseball and its players' association are scheduled to start a grievance hearing next Monday over the union's claim the 2020 pandemic-affected season was too short.

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BEIJING (AP) — Global investors are watching nervously as one of China’s biggest real estate developers struggles to avoid defaulting on tens of billions of dollars of debt, fueling fears of possible wider shock waves for the financial system.

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CANBERRA, Australia (AP) — Australia’s cancellation of a French submarine contract will complicate and delay negotiations on an Australian-European Union free trade deal, a European trade official said Tuesday.

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PORT-AU-PRINCE, Haiti (AP) — Claile Bazile doesn’t know where she and her 2-year-old son will stay once they leave the hotel where officials temporarily set aside rooms for some of the hundreds of people streaming into Haiti after being expelled from the U.S. in the past couple of days.

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WASHINGTON (AP) — Democratic congressional leaders backed by the White House announced Monday they would push ahead with a vote to fund the government and suspend the debt limit, all but daring Republicans who say they will vote against it despite the risk of a fiscal crisis.

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UNITED NATIONS (AP) — France’s top diplomat declared Monday that there is a “crisis of trust” in the United States after a Pacific defense deal stung France and left Europe wondering about its longtime ally across the Atlantic.

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RICHMOND, Va. (AP) — A year and a half into the coronavirus pandemic, the Virginia Employment Commission is still swamped with backlogged claims, its call centers are underperforming and serious staffing problems persist, according to a scathing interim report the state’s legislative watchdog agency presented to lawmakers Monday.

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