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US govt shutdown enters 2nd week as October 17 deadline nears

Last Updated: Tuesday, October 08, 2013, 08:55

The White House and the Democratic party leadership in the Congress, by late last night, were appeared to be working towards to convince the Republican party to agree to a long-term USD 1 trillion debt-limit increase.

Barack Obama warns Wall Street over fiscal crisis

Last Updated: Thursday, October 03, 2013, 08:51

President Barack Obama has sent Wall Street a blunt warning that it should be very worried about a political crisis that has shut down the government and could trigger a US debt default.

Default or not, Asia a hostage to US debt

Last Updated: Monday, September 30, 2013, 15:44

Unless the US Congress settles a political showdown to raise the country's debt ceiling in coming weeks, it will be left on the edge of an unprecedented default. But America's main creditors in Asia may be the least of its worries.

House passes debt bill, wards off default risk

Last Updated: Tuesday, August 02, 2011, 08:46

A last-gasp deal to raise the borrowing limit cleared its biggest hurdle in Congress on Monday, warding off the risk of a debt default after weeks of partisan feuding that damaged America's image abroad.

Moody's expects to affirm US rating, negative outlook

Last Updated: Saturday, July 30, 2011, 08:59

The United States will likely keep its top-notch credit rating from Moody's for now, despite the "limited magnitude" of the deficit reduction plans being discussed in Washington, the ratings agency said on Friday.

US debt fears hit world markets

Last Updated: Thursday, July 28, 2011, 21:44

The political brinkmanship over raising the US debt ceiling continued to weigh on markets today amid fears that a deal won't be clinched in time to prevent the world's largest economy from a potential debt default.

US unlikely to default: Standard & Poor

Last Updated: Thursday, July 28, 2011, 21:16

The United States is unlikely to default on its debt obligations but its credit rating could still be lowered, an official from one of the country's largest credit rating agencies has warned.

Delay in debt plan vote stokes US uncertainty

Last Updated: Wednesday, July 27, 2011, 09:58

The US Congress and world markets faced more uncertainty on Tuesday as Republican leaders delayed action on a plan to raise the government's $14.3 trillion borrowing limit, narrowing the chances for a deal to avert a debt default.

US default would have far-reaching impact: IMF chief

Last Updated: Tuesday, July 26, 2011, 23:14

A default or significant credit downgrade in the United States would be a "very very serious event," IMF chief Christine Lagarde said on Tuesday, warning it could have far-reaching consequences for the world.