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US debt limit looms again: Jacob Lew warns on `brinksmanship`

US Treasury Secretary Jacob Lew urged Congress Friday to avoid another disruptive battle over the country`s borrowing ability, which is scheduled to be capped in nine days.

Japan stocks extend rally, upbeat data supports dollar

Japanese stocks rose to a fresh 15-year high on Friday with the dollar boosted by upbeat U.S. data, but continuing uncertainty over the Greek debt negotiations weighed on the euro.

35% in US facing debt collectors: Study

More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.

US lawmakers step up assault over 'Obamacare' woes

US lawmakers have grilled the contractors behind the troubled Obamacare website as Republicans attacked what they dubbed "one of the biggest IT disasters in government history."

US debt default: Asian policymakers ready $6 trillion forex safety net

As the US struggles to avert a debt default, Asia's policymakers have trillions of reasons to believe they may be shielded from the latest financial storm brewing across the Pacific.

Default or not, Asia a hostage to US debt

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.

US Fed doves make case for patience on tightening policy

The dovish remarks, by Chicago Fed President Charles Evans, Minneapolis Fed chief Narayana Kocherlakota and New York Fed boss William Dudley, came as investors reviewed expectations on whether the Fed will begin to taper bond buying this year or next, after it unexpectedly decided last week to stand pat.

US House passes government spending bill

With no resolution, large parts of the government could shut down Oct. 1, and the nation's first default on federal debt could follow weeks later, The New York Times reported.

Obama warns of 'deadbeat' US if debt limit not raised

President Barack Obama warned today that America would become a "deadbeat" nation if conservative Republicans refuse to raise the government's debt ceiling by next month and throw the economy into crisis.

US economy shrinks 0.1% in Dec qtr; first time in over 3 years

The unexpected contraction adds to the concerns about the struggling global economy which is already battling the European debt turmoil and slowing growth in many developing countries including India.

America's deficit problem is more than fiscal: US economist

The US needs to address its budget deficit, but measures to be taken should not bring counterproductive effects as the nation also face jobs and growth "deficits", said Lawrence Summer, a US economist and President Barack Obama's former economic adviser.

Bernanke urges Congress to raise debt ceiling

Federal Reserve Chairman Ben Bernanke on Monday urged US Congress to lift the country's borrowing limit before the Treasury runs out of maneuvering room to avoid a potential default on US debt.

US has reached borrowing limit of $16.4 trillion: Geithner

The US has reached its borrowing limit of USD 16.4 trillion forcing the government to employ "extraordinary measures" to avoid default, US Treasury Secretary Timothy Geithner informed the Congress on Monday.

Less net capital inflows to developing countries: Report

Net external debt inflows and aggregate net capital inflows to developing countries fell in 2011, driven by a sharp contraction in net inflows from official creditors and a collapse of portfolio equity flows, the World Bank reported Thursday.

What Fiscal Cliff fall will mean for small business owners in US

The Congressional Budget Office said in its latest economic report that if a deal is not reached by January 1, 2013, the economy will likely fall into recession.

Timothy Geithner warns US could fall off ‘fiscal cliff’

“That’s a decision that lies in the hands of the Republicans that are now opposing increases in tax rates,” he said.

US national debt crosses all time high of $16 trillion

The US national debt crossed all time high of USD 16 trillion on the day the Democratic Party kicked off its three-day convention, during which President Barack Obama would accept nomination to seek presidential reelection in November.