The European Union was edging closer to setting a $60-per-barrel price cap on Russian oil — a highly anticipated and complex political and economic maneuver designed to keep Russia's supplies flowing into global markets while clamping down on President Vladimir Putin's ability to fund his war in Ukraine.

EU nations sought to push the cap across the finish line after Poland held out to get as low a figure as possible, diplomats said Thursday. "Still waiting for white smoke from Warsaw," said an EU diplomat, who spoke on condition of anonymity because the talks were still ongoing.

Britain's exit from the European Union added almost £6 billion to consumers' food bills, hitting the poor the hardest and further stoking red-hot inflation, a study said Thursday.

President Joe Biden greeted President Emmanuel Macron at the White House on Thursday with full-scale military honors and a pledge to uphold the "unwavering" U.S.-French alliance ahead of talks on Ukraine, China and a looming trade dispute.

The capital control draft law that is being discussed by the joint parliamentary committees is on the “right track,” Deputy Speaker Elias Bou Saab said on Wednesday.

“We have discussed the draft clause by clause and it needs drastic amendments in many points,” Bou Saab said after a committees session.

Inflation in Europe has eased for the first time in more than a year as energy prices drifted down from painful highs, but the double-digit rate still hovers near a record that has robbed consumers of their spending power and led economists to predict a recession.

The consumer price index in the 19 countries that use the euro currency hit 10% in November from a year earlier, the European Union statistics agency Eurostat said Wednesday. That was a drop from 10.6% in October, the first decrease since June 2021.

Joint parliamentary committees convened again on Wednesday to resume the discussion of a capital control draft law.

The committees had convened Tuesday, as depositors and activists rallied near Parliament to protest the law.

HSBC has agreed to sell its Canadian division to Royal Bank of Canada for US$10.1 billion, the Asia-focused banking giant announced Tuesday.

Joint parliamentary committees convened Tuesday in Parliament to resume the discussion of a capital control draft law, including one of its most important clauses.

A clause about forming a special committee to supervise the implementation of the law is to be discussed today or tomorrow, as the discussion will resume during a second session on Wednesday.

Qatar on Tuesday announced its first major deal to send liquefied natural gas to Germany as Europe scrambles to find alternatives to Russian energy sources.

Qatar's Energy Minister Saad Sherida al-Kaabi said up to two million tons of gas a year would be sent for at least 15 years from 2026, and that state-run QatarEnergy was discussing other possible deals for Europe's biggest economy.

The number of babies born in Japan this year is below last year's record low in what the the top government spokesman described as a "critical situation."

Chief Cabinet Secretary Hirokazu Matsuno promised comprehensive measures to encourage more marriages and births.