U.S. President Joe Biden signs US$280B CHIPS act in bid to boost U.S. over China

U.S. President Joe Biden holds the 'CHIPS and Science Act of 2022' after signing it during a ceremony on the South Lawn of the White House, on Aug. 9, 2022. (Evan Vucci / AP) U.S. President Joe Biden holds the 'CHIPS and Science Act of 2022' after signing it during a ceremony on the South Lawn of the White House, on Aug. 9, 2022. (Evan Vucci / AP)

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OPEC+ makes big oil cut to boost prices; pump costs may rise

The OPEC+ alliance of oil-exporting countries on Wednesday decided to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections.

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