USA

WASHINGTON (AP) — President Joe Biden has a solution for high inflation that seems counterintuitive: Bring factory jobs back to the U.S.

This challenges a decades-long argument that employers moved jobs abroad to lower their costs by relying on cheaper workers. The trend contributed to the loss of 6.8 million U.S. manufacturing jobs, but it also translated into lower prices for consumers and put downward pressure on inflation in ways that kept broader economic growth going.

It was a trade-off that many corporate and political leaders were privately comfortable making.

WASHINGTON (AP) — Legislation to limit insulin costs for people with diabetes is getting revived in the Senate. Democrats say they want to move quickly, but they’ll need Republican support to get anything through an evenly divided chamber — and they’re not there yet.

DECKERS, Colo. (AP) — Dripping flaming fuel as they go, a line of workers slowly descends a steep, snow-covered hillside above central Colorado’s South Platte River, torching piles of woody debris that erupt into flames shooting two stories high.

It’s winter in the Rocky Mountains, and fresh snow cover allowed the crew of 11 to safely confine the controlled burn.

Such operations are a central piece of the Biden administration’s $50 billion plan to reduce the density of western forests that have been exploding into firestorms as climate change bakes the region.

WASHINGTON (AP) — Congressional leaders reached a bipartisan deal early Wednesday providing $13.6 billion to help Ukraine and European allies plus billions more to battle the pandemic as part of an overdue $1.5 trillion measure financing federal agencies for the rest of this year.

WASHINGTON (AP) — The Venezuelan government has freed two jailed Americans, including an oil executive imprisoned alongside colleagues for more than four years, as it seeks to improve relations with the Biden administration amid Russia’s war with Ukraine, the White House announced Tuesday night.

WASHINGTON (AP) — Vice President Kamala Harris’ trip to Warsaw to thank Poland for taking in hundreds of thousands of Ukrainians fleeing Russia’s invasion took an unexpected turn before she even left Washington. She’ll be parachuting into the middle of unexpected diplomatic turbulence over fighter jets.

UNITED NATIONS, Mar 08 (APP): Reaffirming its firm opposition to additional permanent seats in an enlarged United Nations Security Council, Pakistan told a UN panel Monday that those seeking permanent membership of the 15-nation body were doing so for power and privilege, not by the desire to promote international peace and security.

WASHINGTON, March 7. /TASS/: The heads of the committees of the House of Representatives and the Senate of the US Congress reached an agreement on a bill to ban energy imports from Russia and suspend normal trade relations with Russia and Belarus.

"We have agreed on a legislative path forward to ban the import of energy products from Russia and to suspend normal trade relations with both Russia and Belarus," heads of House Ways and Means Committee Senate Finance Committee said in a statement released on Monday.

WASHINGTON/LVIV, Ukraine, March 8 (Reuters) - U.S. President Joe Biden was expected to announce a ban on Russian oil on Tuesday, people familiar with the matter said.

The White House said Biden was scheduled to announce unspecified actions against Russia over its Feb. 24 invasion of Ukraine, in remarks at 10:45 a.m. (1545 GMT) on Tuesday.

NEW YORK, March 7 (Xinhua) -- Market turmoil continued on Monday with investors dumping risk assets and moving to safe havens, on fears about the ongoing Russia-Ukraine conflict and the potential economic fallout.

All the three major U.S. stock indexes suffered massive losses, which saw the Dow plunge 797.42 points, or 2.37 percent, while the S&P 500 and the tech-heavy Nasdaq lose 2.95 percent and 3.62 percent, respectively.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, spiked 13.98 percent to 36.45.