U.S. Treasury Secretary Timothy Geithner formally requested that Congress raise the $12.1 trillion statutory debt limit on Friday, saying that it could be breached as early as mid-October.
Disagreement within the Obama administration over reshaping U.S. financial regulation flared on Tuesday, with top bank regulators defending their turf against key parts of a plan to overhaul bank supervision.
Top U.S. bank regulators spoke out on Tuesday against key elements of the Obama administration's plan to reshape financial regulation, calling some parts unneeded or disruptive.
Disagreement within the Obama administration over reshaping U.S. financial regulation flared on Tuesday, with top bank regulators defending their turf against key parts of a broad bank supervision overhaul plan.
U.S. Treasury Secretary Timothy Geithner blasted top U.S. regulators in an expletive-laden tirade amid frustration over President Barack Obama's faltering plan to overhaul financial regulation, the Wall Street Journal said on Monday, citing people familiar with the meeting.
Top U.S. officials said on Sunday it may be necessary to extend jobless benefits to firm up an economic recovery unlikely to create jobs until next year and declined to rule out future tax increases to tame massive budget deficits.
White House economic adviser Larry Summers on Sunday declined to rule out future tax increases to reduce deficits but said the Obama administration would not increase burdens on the middle class.
U.S. Treasury Secretary Timothy Geithner said on Sunday more actions may be necessary to firm up economic recovery, including extended unemployment aid, and declined to rule out future tax hikes to reduce massive budget deficits.
U.S. and Chinese officials began grappling on Monday with how and when to withdraw the huge economic stimulus spending each has applied and to put in place measures to promote steadier long-term growth.
Senior U.S. housing officials and leading mortgage companies on Tuesday will make a fresh commitment to help troubled borrowers keep their homes and will promise to expand foreclosure-prevention aid, sources familiar with the plans said.
Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fall 0.2-0.3 percent, pointing to a weaker Wall Street open on Tuesday.
Senior U.S. housing officials and leading mortgage companies on Tuesday will make a fresh commitment to help troubled borrowers keep their homes and will promise to expand foreclosure-prevention aid, sources familiar with the plans said.
President Barack Obama called for deeper U.S.-Chinese economic cooperation on Monday and outlined a broad agenda for a positive relationship between two countries that do not always see eye to eye.
Stocks fell on Friday as bellwether Microsoft declined on disappointing results, a day after a rally took the Dow industrials above the key 9,000 mark.
Senior U.S. financial regulators defended their turf in remarks to be delivered on Friday at a congressional hearing on the Obama administration's sweeping regulatory reform agenda.
U.S. stocks fell on Friday as bellwethers Microsoft and American Express declined on disappointing results, a day after a rally took the Dow industrials above the key 9,000 mark.
U.S. Treasury Secretary Timothy Geithner said on Friday he was willing to work with lawmakers on shaping an overhaul of financial regulations but insisted major changes are necessary.
U.S. Treasury Secretary Timothy Geithner said on Friday he was willing to work with lawmakers on shaping an overhaul of financial regulations but insisted major changes are necessary.
Iraqi Prime Minister Nuri al-Maliki meets President Barack Obama on Wednesday in a visit aimed at asserting Iraq's newfound sovereignty and encouraging foreign investors to return to the war-ravaged country.
CIT Group Inc secured a $3 billion loan facility from its bondholders on Monday and said it plans a comprehensive restructuring of its liabilities, but gave few details.
CIT Group Inc secured a $3 billion loan facility from its bondholders on Monday and said it plans a comprehensive restructuring of its liabilities, but gave few details.
