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U.S. retail sales tumble in December amid shortages

U.S. retail sales dropped by the most in 10 months in December, weighed down by shortages and spiraling COVID-19 infections, which could temper expectations that economic growth accelerated sharply in the fourth quarter.

Italy's sewers will give early alert for future COVID spikes

Italy will use the nation's sewage to predict future coronavirus spreads and to alert authorities to rising cases and new variants before they appear in testing and hospitals, a senior official said, announcing a project to be launched in coming months.

Biden seeks to reshape Fed with historically diverse slate

U.S. President Joe Biden on Friday nominated former Federal Reserve Governor Sarah Bloom Raskin for the Fed's key regulatory post and two Black economists - Lisa Cook and Philip Jefferson - to serve on its board in what would represent a landmark demographic overhaul of the world's most powerful central bank.

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