The debt ceiling bill is approved by House Representatives, moving it onto the Senate. Hose Speaker Kevin McCarthy has warned Democrats he intends on making more cuts in coming years. Markets lower odds of a Fed rate hike in June after two officials say they are in favour of pausing this month. We are live in Moldova where 50 European leaders are meeting to discuss the war in Ukraine with President Volodomyr Zelenskyy expected to attend. Manufacturing activity in China recovers in May according to a private sector survey.  

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