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World stocks rally as Treasury yields tumble

World stock markets extended a five-day run of fresh highs on Thursday, fueled by upbeat earnings and strong U.S. economic data that herald a solid recovery ahead, while Russian markets tumbled at the prospect of the harshest U.S. sanctions in years.

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U.S. climate credibility on the line as Biden heads to COP26

President Joe Biden wants to show the U.N. climate conference in Scotland that the United States is back in the fight against global warming. But continued haggling in Congress over legislation to advance his climate goals threatens to undermine that message on the world stage.