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By Kanishka Singh WASHINGTON (Reuters) – There was a record 18% rise in homelessness in the U.S. in the last year, driven by factors like unaffordable housing, high inflation, systemic racism, natural disasters and rising immigration, the U.S. Department of Housing and Urban Development said on Friday. WHY IT’S IMPORTANT The problem of homelessness has been getting worse in the U.S., with commonplace sightings in many cities of destitute people living in the open, with … Read more…

(Reuters) – The U.S. Food and Drug Administration is proposing that cosmetic products containing talc should be tested using standardized methods to detect asbestos, a potential contaminant, according to documents posted on the federal register on Thursday. WHY IT’S IMPORTANT Asbestos, a known human carcinogen, can be injurious to consumers if found in talc-containing cosmetic products as there is no established “safe level” threshold for exposure to the substance. If finalized, the rule can help … Read more…

MOSCOW (Reuters) – President Vladimir Putin said on Thursday there was no time left this year to sign a new Ukrainian gas transit deal, and laid the blame firmly on Ukraine for refusing to extend the agreement that brings gas to Slovakia, the Czech Republic and Austria. “They announced that they would not renew the contract,” Putin said, adding that Kyiv was punishing Europe by the move. The current five-year gas transit deal between Russia … Read more…

By Jonathan Allen NEW YORK (Reuters) – New York state will fine fossil fuel companies a total of $75 billion over the next 25 years to pay for damage caused to the climate under a bill Governor Kathy Hochul signed into law on Thursday. The law is intended to shift some of the recovery and adaptation costs of climate change from individual taxpayers to oil, gas and coal companies that the law says are liable. … Read more…

By Medha Singh and David French (Reuters) -Wall Street’s main indexes advanced on Tuesday, as gains in a handful of megacap and growth stocks bolstered benchmarks in a truncated trading session before Christmas. With megacap stocks having outsized influence on markets, their performance is often a key driver of indexes. When coupled with reduced trading volumes and few other catalysts, as many investors take time off for the holidays, this is even more pronounced. All … Read more…

By Nora Eckert DETROIT (Reuters) – Toyota Motor of North America is donating $1 million to President-elect Donald Trump’s Jan. 20 inauguration, a company spokesman said on Tuesday, a day after Detroit’s Ford Motor and General Motors, said they would give the same amount. Ford and GM are also contributing vehicles to the festivities, while Toyota is not planning to, the Japan-based company said. Trump’s proposed tariffs on imports from Mexico and Canada would affect … Read more…

By Jody Godoy (Reuters) – Apple has asked to participate in Google’s upcoming U.S. antitrust trial over online search, saying it cannot rely on Google to defend revenue-sharing agreements that send the iPhone maker billions of dollars each year for making Google the default search engine on its Safari browser. Apple does not plan to build its own search engine to compete with Alphabet’s Google, whether or not the payments continue, the company’s lawyers said … Read more…