Biden and McCarthy remain deadlocked over raising debt limit, Ryanair agrees to buy up to 300 Boeing jets, and more
[What makes a subscription to The Week so valuable now? Click here.]( [The Week Logo]( [Subscribe to The Week magazine]( [Subscribe to The Week magazine]( Daily business briefing 1. [Biden, McCarthy meet but remain deadlocked over raising debt ceiling]( President Biden met with House Speaker Kevin McCarthy (R-Calif.) and other congressional leaders at the White House on Tuesday to work on breaking an impasse on raising the debt ceiling before a catastrophic default that could be weeks away. Biden insists Congress must lift the $31.4 trillion debt limit without conditions. McCarthy and his fellow Republicans are demanding spending cuts in exchange for raising the borrowing cap. It was Biden's first face-to-face meeting with McCarthy since Feb. 1. There was no breakthrough on Tuesday. The leaders agreed to meet again on Friday. [[Reuters]( [CNN]( [Share to Facebook]( [Share to Twitter]( [Send in email](mailto:?Subject=Biden,+McCarthy+meet+but+remain+deadlocked+over+raising+debt+ceiling&body=Read the story here: utm_campaign=business_briefing_newsletter_20230510&utm_source=business_briefing_newsletter) 2. [Ryanair orders up to 300 Boeing planes in $40 billion deal]( Ryanair said Tuesday it had reached a deal to buy 150 737 MAX jets from Boeing with an option to buy 150 more. The deal, valued at as much as $40 billion at list prices, marks a turnaround in the relationship between the European discount airline and the aircraft maker, after Ryanair CEO Michael O'Leary last year criticized Boeing over delays in delivering a previous order. Ryanair says it will use the planes in the new order, which is the largest ever by an Irish company for U.S. goods, to grow its market share in Europe over the coming decade. "It's a bit like a marriage," O'Leary said Tuesday at Boeing's Virginia headquarters. "We have occasional rows and occasional splits and we come together and kiss and make up." [[The Wall Street Journal]( [CNN]( [Share to Facebook]( [Share to Twitter]( [Send in email](mailto:?Subject=Ryanair+orders+up+to+300+Boeing+planes+in+$40+billion+deal&body=Read the story here: utm_campaign=business_briefing_newsletter_20230510&utm_source=business_briefing_newsletter) Advertisement by Enbridge
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[Spend $500 And Earn $200]( [Advertisement from Wisebread]( 5. [Stock futures edge lower ahead of inflation data]( U.S. stock futures slipped slightly early Wednesday ahead of a key inflation report. Futures tied to the Dow Jones Industrial Average were down 0.1 percent at 6:45 a.m. ET. S&P 500 and Nasdaq futures were down 0.2 percent. The April consumer price index is due out later in the day. Economists surveyed by FactSet forecast a 0.4 percent increase in consumer prices from March to April, up from a 0.1 percent pace the previous month. The annual inflation rate was expected to come in at 5 percent, the same pace as in March. That would mark the first time the annual rate didn't budge after nine months of declines. [[CNBC]( [The Associated Press]( [Share to Facebook]( [Share to Twitter]( [Send in email](mailto:?Subject=Stock+futures+edge+lower+ahead+of+inflation+data&body=Read the story here: utm_campaign=business_briefing_newsletter_20230510&utm_source=business_briefing_newsletter)
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