Bullion roared to record highs above $1,700 an ounce on Monday as an unprecedented downgrade to the U.S. credit rating sent investors scrambling out of riskier assets, hammering equity markets and the dollar.
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Aug 08, 2011
Treasury Secretary Timothy Geithner, who had considered stepping down after the government borrowing limit was raised, confirmed on Sunday that he will remain at his post at President Barack Obama's request.
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Aug 08, 2011
Bullion roared to a record on Monday above $1,700 an ounce as an unprecedented downgrade to the U.S. credit rating sent investors scrambling out of riskier assets, hammering equity markets and the dollar.
IBT Staff Reporter
Aug 08, 2011
Treasury Secretary Timothy Geithner will remain in the position at President Barack Obama's request. Geithner considered stepping down after the government borrowing limit was raised.
Laura Matthews
Aug 08, 2011
It wasn't long after Standard & Poor's lowered the United States' credit rating from AAA to AA+, for the blame game to begin.
John Talty
Aug 07, 2011
London braced on Sunday for more violence after some of the worst riots in the British capital for years which politicians and police blamed on criminal thugs but residents attributed to local tensions and anger over hardship.
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Aug 07, 2011
The rioting in Tottenham, north London comes three decades after the deadly summer of 1981 when cities across England witnessed massive civil unrest.
Palash Ghosh
Aug 07, 2011
London picked itself up on Sunday from some of the worst violence seen in the British capital for years which politicians and police blamed on criminal thugs but residents attributed to local tensions and anger over rising financial hardship.
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Aug 07, 2011
The U.S. dollar may weaken and Treasury yields rise when Asian markets reopen on Monday, though any selling in response to ratings agency S&P's downgrade of the United States is likely to be tempered by the escalating crisis in the euro zone.
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Aug 07, 2011
More than 250,000 Israelis have staged protests in Tel Aviv and Jerusalem cities over the rising cost of living, reflecting the middle-class discontent over the country's inability to address the long-pending housing needs.
Nagesh Narayana
Aug 07, 2011
The S&P cut in the U.S. long-term credit rating to AA-plus is an unprecedented blow. It called the outlook "negative," signaling another downgrade is possible in the next 12 to 18 months. The U.S. dollar may weaken and Treasury yields rise when Asian markets reopen on Monday.
IBT Staff Reporter
Aug 07, 2011
China bluntly criticised the United States on Saturday one day after the superpower's credit rating was downgraded, saying the "good old days" of borrowing were over.
Wenwen Meng
Aug 06, 2011
America is broken. Here are five ways to fix the nation's health.
David Magee
Aug 06, 2011
America's credit rating was downgraded for the first time in history. This will likely have dire consequences on mortgage and credit rates, not to mention the unemployment rate, which now stands at 9.1 percent.
IBT Staff Reporter
Aug 06, 2011
President Barack Obama urged lawmakers on Saturday to set aside partisan politics after a fierce debt battle, saying they must work to put America's fiscal house in order and refocus on stimulating its stagnant economy.
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Aug 06, 2011
China bluntly criticized the United States on Saturday one day after the superpower's credit rating was downgraded, saying the "good old days" of borrowing were over.
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Aug 06, 2011
In a stunning development, Standard & Poor?s Friday downgraded the U.S. Government's credit rating from AAA to AA+, arguing Washington has made inadequate progress cutting the budget deficit. The U.S. Treasury disagrees with S&P?s analysis and conclusion, but interest rates on U.S. home mortgages and car loans are likely to rise.
Joseph Lazzaro
Aug 06, 2011
Consider the case of Canada, which lost its top-notch rating in April 1993 ? it took the country nine long, hard years to regain the coveted rating after enacting serious debt and deficit reductions.
Palash Ghosh
Aug 06, 2011
Stocks closed out their worst week in more than two years on Friday in a volatile session that saw the major indexes whip back and forth before the S&P 500 ended down less than a point.
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Aug 05, 2011
President Barack Obama and the Democratic Party have nine months, or until about June 2012, to demonstrate to the American people that their policies can create 150,000 to 200,000 new jobs per month -- the amount needed to substantially lower employment and create ample opportunities for all.
Joseph Lazzaro
Aug 05, 2011
President Barack Obama on proposed $120 million in new tax credits for businesses that hire U.S. veterans returning from Iraq and Afghanistan at a time of high unemployment at home.
IBT Staff Reporter
Aug 05, 2011
U.S. consumer credit borrowing in June jumped to highest numbers since August 2007, the Federal Reserve announced today.
John Talty
Aug 05, 2011
