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A White House meeting on the debt ceiling fails to yield a breakthrough.

Plus, former president Donald Trump is found liable for defamation and sexual abuse in a civil

case brought by columnist E. Jean Carroll.

This just adds to the many legal woes that Trump has had as he's running for president.

He also faces charges from the Manhattan DA's office and there's several other investigations

including Justice Department and a DA in Georgia.

And US home prices are falling in nearly a third of the country.

It's Tuesday, May 9.

I'm Amary for Tolley for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that moved the world today.

President Biden, House Speaker Kevin McCarthy and other congressional leaders have emerged from a high level

meeting at the White House on the debt ceiling without a breakthrough.

It was the president's first substantial conversation with McCarthy about the debt ceiling since February aimed at preventing a default.

House Republicans want deep spending cuts in exchange for raising the borrowing limit.

But Biden and congressional Democrats say the debt ceiling should be raised without preconditions.

The federal government could default on its obligations as soon as June 1st if the debt ceiling isn't raised.

That's something Democrats and Republicans say they want to avoid.

...