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LONDON (AP) — The taxes on alcoholic drinks in the U.K. are being radically simplified in the biggest overhaul in more than 140 years, Britain's Treasury chief Rishi Sunak said in Wednesday in his annual budget.

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WASHINGTON (AP) — U.S. home prices jumped in August by a near-record amount from a year earlier, as Americans eager to buy a home drove up prices on a dwindling number of properties.

LONDON (AP) — Britain has experienced a series of shortages these past few months, from a lack of fuel at gas stations to not enough workers picking the fall harvest, but Treasury chief Rishi Sunak is unlikely to dwell on them when he delivers his annual budget statement on Wednesday.

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BRUSSELS (AP) — European Union ministers on Tuesday held emergency talks focused on energy that did not produce immediate results amid deep divergences between the 27 member countries on how to tackle a crunch that has seen consumers' bills skyrocket this year.

LONDON (AP) — Millions of low-pay workers in Britain will get an inflation-busting pay increase next year after the government said Monday it will legislate to raise the National Living Wage to 9.50 pounds ($13) an hour from the current rate of 8.91 pounds ($12.25).

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WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Friday that the tangled supply chains and shortages that have bedeviled the U.S. economy since this summer have gotten worse and will likely keep inflation elevated well into next year.

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Power shortages are turning out streetlights and shutting down factories in China. The poor in Brazil are choosing between paying for food or electricity. German corn and wheat farmers can't find fertilizer, made using natural gas. And fears are rising that Europe will have to ration electricity if it's a cold winter.

DUBAI, United Arab Emirates (AP) — The Middle East is expected to see significant economic growth this year, but also soaring inflation and food prices, as coronavirus vaccines are unevenly rolled out across the region, the International Monetary Fund said Tuesday.

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BEIJING (AP) — Asian stock markets followed Wall Street higher as investors waited Tuesday for U.S. corporate results to see how companies are coping with supply disruptions and the past quarter's surge in coronavirus infections.

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NEW YORK (AP) — Americans continued to spend at a solid clip in September even while facing sticker shock in grocery aisles, car lots and restaurants as snarled global supply chains slow the flow of goods.

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