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WASHINGTON (AP) — Hoping to make amends for a tragic accident, the United States has provided a wide range of compensation to a Cameroonian family whose child was killed by a vehicle in U.N. Ambassador Samantha Power's motorcade. The package included everything from cash to cows, U.S. officials said.
U.S. consumer spending rose for a second straight month in May on increased demand for automobiles and other goods, but there are fears Britain's vote to leave the European Union could hurt confidence and prompt households to cut back on consumption. The Commerce Department said on Wednesday consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.4 percent last month, pointing to an acceleration in economic growth in the second quarter. Consumer spending in April was revised up to show it advancing 1.1 percent instead of the previously reported 1.0 percent jump.
The European Commission stands ready to support the banking sector in Italy but has not given its backing to Rome's plan to prop up Italian banks after the turmoil caused by the Brexit referendum, an EU official told Reuters on Wednesday. On Tuesday in Brussels, Italy's Prime Minister Matteo Renzi met Commission president Jean-Claude Juncker and vice president Valdis Dombrovskis, who takes control of EU financial services in July after British commissioner Jonathan Hill quit last week.