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US debt ceiling looms, but battle may not be as bitter

The world`s largest economy once more faces the threat of default unless the US Congress raises the debt ceiling, but feuding between Barack Obama and foes may not push the nation to the brink this time.

Chinese agency downgrades US credit rating

A Chinese ratings agency downgraded its US sovereign credit rating Thursday despite Washington`s resolution of the debt ceiling deadlock, warning that fundamentals for a potential default remained "unchanged".

Gold price flat, investors mark time until US debt deadline

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: Budget rift pushes Washington to the brink

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.

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

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.

US Senate to meet as path out of fiscal impasse still elusive

The Senate will hold a rare Sunday session as US politicians grapple with how to reopen the shuttered government and avoid a potentially calamitous failure to pay the country`s debt obligations.

JPMorgan's Dimon on US default: 'You don't want to know'

Top US banker Jamie Dimon of JPMorgan Chase warned today that the United States needs to avoid defaulting on its debt, saying the possible repercussions are unfathomable.

Gold price falls below $1,300 per ounce

Gold fell below USD 1,300 an ounce on Thursday as the dollar rebounded on signs Washington was moving towards breaking a stalemate over debt and averting a US default.

US still in fiscal deadlock, but glimmers of hope emerge

A few faint glimmers of hope surfaced on Monday in the US fiscal standoff, both in Congress and at the White House, with President Barack Obama saying he would accept a short-term increase in the nation's borrowing authority to avoid a default.

'Not raising debt ceiling could result in 2008-like situation'

The Congress needs to increase the federal debt ceiling by October 17 to avoid having the US default on its obligations.

'India must have a contingency plan if US defaults on debt'

India must have a "contingency plan" in place to ring-fence the country's economy if the political showdown in the US leads to a default on its international monetary obligations, industry body Assocham on Thursday said.