Debt default. A ratings downgrade. Political deadlock. Such terms, once associated primarily with the developing world, now abound in the mighty United States.
With financial markets on edge, White House officials and Republican leaders scrambled to reassure them that the United States will avert default and lift its $14.3 trillion borrowing limit before August 2.
President Barack Obama and congressional leaders struggled on Sunday to break a partisan deadlock on a budget deal to avoid a U.S. debt default and reassure global markets, with no sign of a deal emerging.
President Barack Obama and congressional leaders struggled on Sunday to break a partisan deadlock on a budget deal to avoid a U.S. debt default and reassure global markets, with no sign of a deal emerging.
The sluggish pace of hiring may be hobbling the economy, but it's not been holding back big U.S. companies' profits thanks to growth overseas and cost controls at home. And that's bad news for the more than 14 million Americans without jobs.
U.S. Treasury Secretary Timothy Geithner Sunday reiterated his call for Congress to increase the debt limit immediately, underscoring that a delay may roil financial markets beginning as early as Monday. Geithner also said a default by Congress would jeopardize 80 million federal payments/checks per month.
Much of the United States may be frying in near-record temperatures but Wall Street has been feeling the heat for months. Wrangling over the debt ceiling has kept markets on edge, and investors are still waiting for a breakthrough that leads to a deal to avoid a devastating default.
Global financial markets have been more than patient throughout this summer's struggle over raising the U.S. debt ceiling. That patience may run out on Monday.
His campaign is taking time to take off and seeing some personnel shake-ups
New York City may be frying in near record temperatures but Wall Street has been feeling the heat for months. Wrangling over the U.S. debt ceiling and questions marks over corporate earnings mean markets are unlikely to get a break any time soon.
Bank of China <3988.HK> <601988.SS> is a leading contender in the race to acquire the aircraft leasing business being sold off by Royal Bank of Scotland , the Sunday Times reported without citing sources.
Switzerland's parliament would not vote for a second tax treaty to help settle U.S. charges that Credit Suisse bankers helped wealthy Americans evade taxes, Swiss politicians were quoted as saying on Sunday.
The Japanese government plans to issue 10 trillion yen ($128 billion) in reconstruction bonds and cut spending by 3 trillion yen to pay for more projects to rebuild the devastated northeast, the Nikkei business daily reported on Sunday.
House Speaker John Boehner, R-Ohio, took pains to underscore that not only have the debt deal talks resumed, he says all parties are working toward an agreement. Time certainly is of the essence: the U.S. has less than 10 days to raise the debt ceiling and avoid a default.
There's no way to sugarcoat it: the U.S. housing market remains a buyer's market. That said, are there ways home sellers can better-position their home for a sale amid such intense competition? Indeed there are, and here are five.
France will not need to introduce austerity measures in response to increased debt exposure from the euro zone's new rescue plan for Greece, its finance minister said on Saturday.
Is there a way to get a quick-read on the U.S. economy, for those who are time-pressed, and don't have time to review the latest economic reports from the U.S. Federal Reserve? Indeed there is: review the performance of diversified industrial giant General Electric (GE).
A U.S. judge rejected Oracle Corp's claim for billions of dollars in damages from Google Inc for infringing on Java patents, a day after warning both sides they had taken unreasonable positions in a patent battle over the Android mobile system.
House Speaker John Boehner, R-Ohio, said Friday there is no agreement in private on a debt deal and that negotiators are not close to an agreement. That left official Washington wondering, on a sweltering 100-degree day, if the talks have reached another impasse, of if Boehner is merely deploying that old beltway tactic of 'rhetoric for dollars'?
The bankruptcy trustee for Lehman Brothers Holdings Inc's brokerage arm is appealing a February decision awarding Barclays PLC about $1.1 billion associated with Barclays' purchase of Lehman's North American unit at the height of the financial crisis.
American businesses, from Wall Street banks to major industrial corporations, are preparing contingency plans for a pair of once-unthinkable events: the United States defaulting on its debt and the loss of the nation's top AAA credit rating.
Thomson Reuters Corp said five more senior executives are leaving its Markets division in addition to its head Devin Wenig.
An appeals court has rejected a new Securities and Exchange Commission rule intended to make it easier for shareholders to nominate directors to corporate boards.
New York City may be frying in near record temperatures but Wall Street has been feeling the heat for months. Wrangling over the debt ceiling and questions marks over corporate earnings mean markets are unlikely to get a break any time soon.
Facebook Inc won a dismissal of a second lawsuit by the Olympic rowing twins Cameron and Tyler Winklevoss seeking to boost their $65 million settlement with the company and its founder, Mark Zuckerberg.
Investors poured into tech shares on Friday as promising chipmaker earnings and optimism that a solution was on the horizon for the U.S. debt stalemate triggered a move into growth-oriented shares.
Investors poured into tech shares on Friday as promising chipmaker earnings and optimism a solution was on the horizon for the U.S. debt stalemate triggered a move into growth-oriented shares.
An appeals court has rejected a new Securities and Exchange Commission rule intended to make it easier for shareholders to nominate directors to corporate boards.
Jobless rates jumped in June from the month before in more than half of the U.S. states as sinking public employment reversed the trend of steadily improving labor conditions in the first half of 2011, Labor Department data released on Friday showed.
Heavy machinery maker Caterpillar Inc disappointed Wall Street with a second-quarter earnings miss on Friday, hurt by higher costs, and its shares fell 5.5 percent, dragging down the U.S. stock market.
