WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen urged lawmakers on Friday to increase or suspend the nation's debt limit as soon as possible and warned that if Congress does not act by Aug. 2 the Treasury Department would need to take "extraordinary measures" to prevent a U.S. default.

Fears of increased of regulation from Beijing crushed U.S.-listed Chinese stocks on Friday following a Chinese government crackdown on private educators.

SHANGHAI (Reuters) -China is barring tutoring for profit in core school subjects to ease financial pressures on families that have contributed to low birth rates, news that sent shockwaves through its vast private education sector and share prices plunging.

Russia's central bank increased its key interest rate to 6.5% on Friday to curb stubbornly high inflation and indicated that further rate increases were possible even after the 100 basis point hike, its sharpest since late 2014.

(The author is a Reuters Breakingviews columnist. The opinions expressed are his own. Corrects eight paragraph to distinguish between Ken Griffin’s hedge fund Citadel and its affiliated market maker Citadel Securities.)

Homeowners with certain government-backed mortgages could get their monthly payments reduced by 25% if they are still struggling to make payments, the White House said on Friday as part of efforts to help keep people housed amid the pandemic.

The U.S. Justice Department is investigating Connecticut-based trading house Freepoint Commodities over whether payments to employees of Brazil's state-run oil company broke U.S. laws, two sources with knowledge of the matter told Reuters this week.

China's northern city of Shenyang has encouraged local state-owned companies to increase stakes in Shengjing Bank, which Evergrande Group has a 36% stake in, according to statement by the bank on Thursday.

European Central Bank member Francois Villeroy de Galhau said on Friday it was totally justified to keep an accommodative monetary policy for now.

PARIS (Reuters) -France's Europe minister Clement Beaune rejected on Thursday Britain's request to renegotiate the Brexit deal governing trade with Northern Ireland, dismissing British accusations of European dogmatism as a "tall tale".