Global markets lifted by Biden’s £953bn infrastructure plan – business live

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Bipartisan agreement on infrastructure bill could open door to wider spending; UK car production recovery held back by global pandemic supply shortages

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Joe Biden’s announcement of a bipartisan agreement on a $953bn infrastructure plan – billed as the largest investment in public transit in American history – has boosted stock markets in the US and Asia. On Wall Street, the S&P 500 and the Nasdaq closed at new record highs of 4,266 and 14,369 respectively. In Asia, Japan’s Nikkei rose 0.

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