The daily business briefing: May 10, 2023

Biden and McCarthy remain deadlocked over raising debt limit, Ryanair agrees to buy up to 300 Boeing jets, and more

A Ryanair Boeing 737-800 aircraft at takeoff
Ryanair will buy 150 737 MAX jets from Boeing, and could buy 150 more
(Image credit: Nicolas Economou/NurPhoto via Getty Images)

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.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.