The U.S. House of Representatives has passed a Bill cutting $9 billion in foreign aid and public media funds by a thin majority, in what is seen as another legislative win for the Trump administration.With two Republican lawmakers voting against the package, the Bill was approved by a 216-213 vote.The House debated on the major slash made by the Department of Government Efficiency (DOGE) until aft...
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.