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Breakingviews - China’s share-backed debt problem is a lasting one

China’s pledged stocks cast a long shadow. Shares have been used as collateral for some $220 billion of loans in the People’s Republic, a practice which threatens to exacerbate a nearly $2 trillion selloff this year. Beijing will step in to contain the immediate risk, but higher lending costs and moral hazard will hurt for longer.

Italy approves deficit-hiking budget, awaits EU's verdict

The Italian cabinet on Monday signed off on an expansionary 2019 budget, boosting welfare spending, cutting the retirement age and hiking the deficit to set up a showdown with authorities in Brussels over compliance with EU rules.

Factbox: Key measures in Italy's deficit-hiking budget

The Italian Cabinet on Monday signed off on an expansionary 2019 budget, boosting welfare spending, cutting the retirement age and hiking the deficit to set up a showdown with authorities in Brussels over compliance with EU rules.

Chicago sues Sessions (again) over sanctuary policy, claims ‘bad faith’ evasion of injunction

The city of Chicago has already won a permanent injunction against the Justice Department's 2017 policy of conditioning certain law enforcement grants on compliance with the Trump administration’s immigration policies. Last July, U.S. District Judge Harry Leinenweber of Chicago granted summary judgment in Chicago’s suit against Attorney General Jeff Sessions, holding that DOJ’s attempt to force the city to abandon its so-called sanctuary policy was both unconstitutional and unlawful

Factbox: Key dates if EU moves to reject Italy's budget

A row between the eurosceptic Italian government and the European Union over Italy's 2019 budget could escalate in the coming days if the EU Commission decided to trigger a procedure to reject the Italian budgetary plans.

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