Treasury bonds could soon lose the privilege of being the only debt securities in the world whose value actually rises on the threat of a ratings downgrade.
Sunday's Day 8 of the debt deal talks saw both sides express confidence that a grand bargain deficit reduction package would be reached, even as a parallel camp of lawmakers worked on a last-chance option containing a more-modest reduction; however, there was little new evidence Sunday that a deal was at hand.
The Senate will likely begin consideration this week of a bipartisan fallback plan to avert an unprecedented U.S. default of its debt, senior Democratic aides said on Sunday.
Banks that scraped through the European Union's stress test of 90 lenders will start feeling the heat Monday from investors to beef up capital buffers.
Southwest Airlines' pilots union has reached an agreement in principal with the pilots union for AirTran Airways, the low-cost airline it bought in May.
The European Central Bank's chief said it could not accept defaulted bonds as collateral and that governments would have to intervene and correct things were Greece government debt to be rated as a default.
Ireland would like to see the euro zone issue common bonds as part of the solution to the bloc's debt crisis, the Irish deputy prime minister said on Sunday.
Stocks will be hard pressed to turn the tide of recent selling this week as political jousting over raising the United States' debt ceiling intensifies.
Markets won't punish Spain on Monday even though the majority of banks that failed Europe-wide stress tests were Spanish, the head of the European Banking Authority said in an interview.
The United States has ended talks with Switzerland aimed at settling a row over investigations into Swiss banks accused of helping Americans dodge taxes, a newspaper reported on Sunday.
A group of lenders sued OppenheimerFunds Inc, an investment subsidiary and an advisory company, accusing it of wrongfully procuring $1.8 billion in loans from March 2006 to September 2007 to buy investments that were too risky to meet lending agreements.
Allowing the EFSF bailout mechanism to buy back bonds from the secondary market would help deal with Europe's debt crisis, European Central Bank Executive Board member Lorenzo Bini Smaghi told a Greek newspaper.
Banks that barely passed the European financial stress tests must swiftly reinforce their capital, ECB Governing Council member Erkki Liikanen told Finnish public broadcaster YLE on Saturday.
Debt deal talks, Day 6: Unless the Tea Party compromises, a U.S. Government default is likely. For many voters, the Tea Party stance appears extreme, irresponsible, even irrational. But for Tea Party supporters, it’s a logical and necessary stance, when any compromise with a Democratic president is viewed as a defeat.
Greece's Prime Minister George Papandreou ruled out bankruptcy for his debt-choked country and said it was time for Europe to wake up and take brave decisions, according to a newspaper interview to be published on Sunday.
Greece could cut its public debt by 20 billion euros ($28.3 billion) if it bought back sovereign bonds at market prices as part of a rescue deal, German weekly magazine der Spiegel reported, citing finance ministry sources.
Americans in the 2010 election returned the Republican Party to power in the U.S. House to create jobs: the U.S. is short at least 14.1 million jobs. So what has the Republican Party spent a great deal of time on? Light bulbs.
Europe's banks would be 80 billion euros ($113 billion) short of capital under a tough test of their health, more than 30 times the amount demanded in an official test, according to a leading analyst.
Stocks will be hard pressed to turn the tide of recent selling next week as political jousting over raising the United States' debt ceiling intensifies.
The setting is perfect for another gold boom cycle to kick in, perhaps pushing the yellow metal into a super cycle. There are several factors aiding gold's further push into higher price records, greater investment worth and long-term reign as a de facto currency. There are all sorts of classic factors supporting gold all the way, like the demand from China and India bursting at seams, continued worries for the US dollar and the worrisome prospect of sovereign default in some European countri...
President Barack Obama will decide on Saturday whether to summon lawmakers for a new round of debt and deficit talks, weighing the chances of progress as both sides stick to their positions on spending and taxes.
President Barack Obama and Republicans traded demands for a serious deficit plan on Friday, as an acrimonious stalemate deepened in negotiations to avert a looming U.S. government default.
Rupert Murdoch apologized to victims of criminal phone hacking by one of his tabloids and accepted the resignations of News Corp's top two newspaper executives, Rebekah Brooks and Les Hinton.
Standard & Poor's on Friday raised the pressure on debt negotiators in Washington, saying it could downgrade insurers, securities clearinghouses, mortgage agencies and a laundry list of other firms without a deal soon to lift the debt ceiling and cut the deficit.
President Barack Obama and Republicans traded demands for a serious deficit plan on Friday, as an acrimonious stalemate deepened in negotiations to avert a looming U.S. government default.
A former currency trader extradited from Peru pleaded not guilty in U.S. District Court on Friday to criminal fraud charges stemming from a Ponzi scheme that prosecutors said lured some 400 investors into losing at least $5 million.
TTI Floor Care North America Inc, the owner of the Hoover and Dirt Devil vacuum cleaner brands, has put itself up for sale and is seeking as much as $900 million, the Wall Street Journal reported on Friday.
Authorities are considering indicting Swiss bank Credit Suisse over its role in providing offshore private banking services that enabled scores of wealthy Americans to evade taxes, according to current and former senior government sources briefed on the matter.
Rupert Murdoch said sorry on Friday to victims of criminal phone hacking by one of his tabloids after confidante Rebekah Brooks quit as head of the British newspaper arm of his News Corp media empire.
Barclays Plc is appealing a judge's ruling that handed the trustee for Lehman Brothers Holdings Inc's brokerage arm about $4 billion related to the rushed purchase of the failed investment bank's North American business.
