GOLD

Gold firmed a touch on Thursday, lifted by concerns over a potential U.S. debt default as lawmakers in Washington argued over deficit-cutting measures, and lingering fears that the euro zone debt crisis could spread.

The rising super swimmer of the U.S. did it again. Ryan Lochte once again overpowered 14-time Olympic gold medalist Michael Phelps in the World Swimming Championship in Shanghai on Thursday.

A bill to cut the deficit faced a nail-bitingly close vote in Congress on Thursday as the top Republican lawmaker sought to quell an internal revolt and push his plan to avoid a ruinous default.

As Machu Picchu is celebrating the hundredth year of its discovery, the mysterious ruins have baffled archaeologists yet again with a new mystical discovery.

If the impasse over the U.S. debt limit isn't broken soon, President Barack Obama will be forced to decide how he will manage the crisis.

Asian stocks fell ahead of a long list of corporate results on Thursday that may shed light on the year's earnings outlook, though the region continued to outperform Wall Street in July.

Housing in Australia has become "severely unaffordable", and it will take 10 years of flat-lined prices to rectify, a study has found.

Investors sought protection in options on Wednesday as fears of a U.S. credit rating downgrade intensified.

President Barack Obama's credibility as a leader hangs in the balance along with America's gold-plated credit rating as he strives to break a debt impasse with Republicans and avoid a ruinous default.

Republicans and Democrats rushed to rework rival deficit reduction plans on Wednesday, but with the fate of both proposals heavily in doubt, top lawmakers pursued a behind-the-scenes compromise to avert a crippling U.S. debt default.

ANALYSIS There's no reason to doubt Mozilla. After all, the company is used to being an underdog.

South Africa's resource-heavy bourse tumbled on Wednesday with gold miners helping to drag the index down as strikes over wages loomed in the sector.

Republicans and Democrats rushed to rework rival deficit reduction plans on Wednesday, but with the fate of both proposals heavily in doubt top lawmakers pursued a behind-the-scenes compromise to avert a crippling U.S. default.

Striking workers in South Africa's petroleum sector are discussing a revised wage offer to end a three-week-old walkout as stoppages spread to the vital mining sector, threatening supplies of coal and gold.

Michael Phelps is used to celebrating 200 meters butterfly victories but the American's gold medal at the world swimming championships on Wednesday was particularly sweet.

London 2012 began its final year countdown on Wednesday with swimmers making a splash in the newly-opened Olympic pool and IOC president Jacques Rogge putting preparations on a par with great Games of the past.

Relief was etched all across Michael Phelps' face Wednesday after the American won his first gold medal of the world swimming championships in Shanghai, one year to the day before he begins his final Olympics campaign.

'History shows that even when the decision to raise the debt ceiling goes down to the wire, it does not lead to a default or a change in the perception that the US is the gold standard against which to benchmark other debt. This time around the stakes are higher.'

The opening ceremonies of the Summer Olympic games and Paralympic Games are just one year away. See what London is doing to prepare for the Games' return after 64 years.

Gold prices rose to an all-time record in New York to touch $1623.70 as investors weighed in the possibility of a debt default in the U.S.

A Republican proposal to cut the U.S. deficit faced delay and stiff opposition on Wednesday, raising the risk of a debt default and a ratings downgrade as the clock ticks toward a deadline less than a week away.