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A failure by the US to raise its debt ceiling would lead to an economic and financial crisis in the country, Treasury Secretary Janet Yellen has cautioned, urging lawmakers to act and not wait “until the last minute.”

The average price of petrol in the UK has gone above £1.70 a liter for the first time, according to the latest data revealed by the motoring organization RAC. The cost of unleaded petrol, the British term for gasoline, was reported to have reached £1.69 ($2.12) per liter on Monday, up from £1.68 recorded on…