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US debt ceiling day October 17: What happens?

Last Updated: Wednesday, October 16, 2013, 20:53

The US Treasury says that starting Thursday it will not have enough cash to pay its bills unless Congress increases the USD 16.7 trillion cap on its power to borrow more money.

Senate in spotlight as US on brink of possible default

Last Updated: Wednesday, October 16, 2013, 19:43

US lawmakers embarked on another day of high-stakes political brinkmanship Wednesday, battling to scrape together an eleventh hour deal to protect Washington`s battered financial standing.

Gold price flat, investors mark time until US debt deadline

Last Updated: Wednesday, October 16, 2013, 18:39

Spot gold was unchanged at USD 1,280.70 an ounce. It plunged to its lowest since July 10 at USD 1,251.66 on Tuesday before rebounding.

US shutdown blues: From end of earth to outer space

Last Updated: Wednesday, October 16, 2013, 18:30

The US government shutdown, now in its 16th day, has forced hundreds of thousands of federal workers to stay home and restricted many government services.

US debt default imminent as frantic political attempts fail

Last Updated: Wednesday, October 16, 2013, 18:00

Frantic attempts to persuade House Republicans to lift the federal debt limit collapsed Tuesday night, leaving Washington careering toward a critical deadline of October 17 to raise the country's debt ceiling.

US lawmakers begin last-ditch effort on debt ceiling

Last Updated: Wednesday, October 16, 2013, 12:13

The US Senate prepared for a last ditch effort Wednesday to avoid a historic lapse in the government`s borrowing authority, a breach that President Barack Obama has said could lead to default and deliver a damaging blow to the global economy.

Obama rejects House Republican debt plan, shutdown continues

Last Updated: Tuesday, October 15, 2013, 22:09

Efforts to end the US government shutdown and avoid a debt default before the October 17 deadline remained elusive as the White House Tuesday dismissed the latest House Republican proposal to resolve the impasse, alleging it was tantamount to "ransom".

US shutdown: Budget rift pushes Washington to the brink

Last Updated: Tuesday, October 15, 2013, 21:33

Washington`s risky game of political brinkmanship neared crisis point Tuesday, with no deal yet nailed down to avoid a catastrophic US debt default, just 36 hours before a crucial deadline.

Gold price today: Latest updates

Last Updated: Tuesday, October 15, 2013, 19:30

Gold prices edged higher by Rs 85 to Rs 28,872 per ten grams in futures trade Tuesday as market participants enlarged some of their positions even a weakening trend overseas.

Rupee depreciates further by 28 paise to 61.83 against dollar

Last Updated: Tuesday, October 15, 2013, 18:30

The rupee fell for the second day and depreciated by 28 paise Tuesday to 61.83 against the dollar which strengthened on expectations US lawmakers would reach a deal to end the debt ceiling impasse.

US senators close to deal to end 14-day-old shutdown

Last Updated: Tuesday, October 15, 2013, 18:05

US senators say they are closing in on a deal that would reopen the government and push back a possible debt default for several months, though many hurdles remain.

Gold price hits 3-month low in expectation of US debt deal

Last Updated: Tuesday, October 15, 2013, 18:01

Spot gold was down 1 percent at USD 1,260.60, having earlier hit its lowest since July 10 at USD 1,251.66.