US DEBT

  • World View: US shutdown ends, is the relief only temporary? October 18, 2013

    The US Senate overwhelmingly approved a deal on Wednesday to end a political crisis that partially shut down the federal government and brought the world's biggest economy to the edge of a debt default that could have threatened financial calamity. ...
  • Obama and Republicans search for a deal on US fiscal impasse October 13, 2013

    Washington: President Barack Obama and congressional Republican leaders inched toward resolving their fiscal impasse on Friday, but struggled to agree on the length and terms of a shortterm deal to increase the US debt limit and reopen the government. Obama met Senate Republicans at the White House and spoke by phone...
  • Republicans consider shortterm US debt ceiling increase October 10, 2013

    US House of Representatives Republicans are considering signing on to a shortterm increase in the government's borrowing authority to buy time for negotiations on broader policy measures, according to a Republican leadership aide. How long the increase might suffice a few weeks or a few months was unclear. But...
  • Gold hits 11month high, extends gains to fifth day October 5, 2012

    Singapore: Gold hit an 11month high on Friday in its fifth day of gains as stimulus measures from major central banks continued to increase its appeal as an inflation hedge, while investors awaited more trading direction from key US jobs data due later in the day. The European Central Bank...
  • Moody's threaten to cut US debt rating by a notch September 12, 2012

    New York: The US government's debt rating could be heading for the "fiscal cliff" along with the federal budget. Moody's Investors Service on Tuesday said it would likely cut its "Aaa" rating on US government debt, probably by one notch, if budget negotiations fail. If Congress and the White House don't...
  • Protests pitch Russian blogger against Putin December 11, 2011

    Moscow: If Vladimir Putin is to face a Russian rebellion, its spiritual leader may be a 35yearold blogger named Alexei Navalny. At Saturday's protests, the biggest of Putin's 12year rule, some of the loudest cheers were for the anticorruption campaigner, who has warned Russia's paramount leader he could face an Arab...
  • Barack Obama unveils $ 447 bn job growth plan September 9, 2011

    Washington: US President Barack Obama said on Thursday the United States faces a "national crisis" and pressed Congress to urgently pass a jobs package of tax cuts and government spending he is proposing to revive the stalled economy. The cost of Obama's plan would be $447 billion, a Senate Democratic aide...
  • Asian stocks rise, gold jumps to new highs August 22, 2011

    Singapore: Asian stocks turned positive on Monday, recovering a small portion of last week's steep losses, while gold shot to new highs as investors worried about the sluggish US economic outlook and Europe's debt crisis. Spot gold prices hit a record high of $1,878.39 per ounce as the shaky global outlook...
  • Layoffs sweep Wall Street, along with low morale August 22, 2011

    New York: In early summer, before layoffs began sweeping across Wall Street, billboardsized photos of employees were plastered on the walls, pillars and elevator banks of Credit Suisse Group AG's offices in the United States and abroad. The museumquality prints, depicting workers from administrative assistants to senior executives, were emblazoned with...
  • Obama says will be judged in 2012 over economy August 21, 2011

    Vineyard Haven: US President Barack Obama said on Sunday he expects to be judged in the 2012 election over his governance of the American economy, which he said was still not growing fast enough. "For me to argue, look, we've actually made the right decisions, things would have been much worse...
  • Stocks hit by US selloff in short term: Pranab August 19, 2011

    New Delhi: The Indian stock markets have been affected by the US market sentiments in the short term, even though the country's economy is robust and its growth story is intact, Finance Minister Pranab Mukherjee said in a statement released after market hours on Friday. Indian shares fell nearly 2 per...
  • Morgan Stanley cuts global growth view, eyes ECB August 18, 2011

    London/Bangalore: The United States and euro zone are "dangerously close to recession," Morgan Stanley said on Thursday, criticising policymakers and predicting the European Central Bank will have to reverse its rates policy. The Morgan Stanley research note, which cut global growth forecasts, was cited by stocks traders as adding to market...
  • Dealing with decadeold mess: Obama August 17, 2011

    In an interview US President Barack Obama said that from Syria to the US he is accountable for the present financial crisis but doesn't want the people to forget that he's trying to tackle a decadeold 'mess'. ...
  • Fitch affirms 'AAA' rating on US August 16, 2011

    New York: Fitch on Tuesday confirmed its coveted 'AAA' sovereign rating on the US and maintained a stable outlook on the country's longterm prospects, less than two weeks after rival S&P downgraded the world's largest economy. Underlining that America's "exceptional creditworthiness" remains intact, global rating agency...
  • Wall Street rises after corporate deals August 15, 2011

    New York: Stocks rose for a third straight day on Monday after Google and other companies announced acquisitions totaling more than $19 billion. The return of "Merger Monday" on Wall Street made investors more optimistic about the future. So did a report that showed Japan's economy shrank less than feared...
  • US witnesses 8 bank failures every month August 14, 2011

    New York: Reflecting the uncertain economic conditions in the world's largest economy, as many as eight US banks on an average are going out of business every month. A whopping 64 American banks have closed down so far this year, translating into an average of eight closures every month, according...
  • Confidence in Obama's leadership shaken in US August 13, 2011

    Washington: A spree of bad news, market gyrations, fears of a doubledip recession, stubborn unemployment and fallout from a debt deal has shaken confidence in US President Barack Obama's leadership and could cloud his chances for winning reelection. Obama is seeking a second term in office in an election that is...
  • Wall Street week ahead: Investors look for calm August 13, 2011

    New York: Shellshocked stock investors will search next week for calm to return to markets after the worst three weeks for stocks in 2 1/2 years. With the blow from the August 5 US credit rating downgrade behind them, investors will focus on the outlook for the US economy as...
  • Obama, CEOs talk markets, global economy woes August 13, 2011

    Washington: Global financial upheaval was on the agenda on Friday when President Barack Obama met with top executives from the US business community, the White House said. Chief executives from Johnson & Johnson, Wells Fargo & Co, US Bank, Xerox Corp, BlackRock Inc, Silver Lake Partners, American Express and US...
  • Asia stocks up with nearterm focus on value August 12, 2011

    Singapore: Asian stocks edged up on Friday, as investors hunted for value after an intense week of volatility, though the festering European financial crisis may mean that havens like gold and the Swiss franc may still draw buyers. Wall Street rose 4 per cent overnight on high trading volume, with relatively...
  • Wall Street bounces back, helped by financials August 12, 2011

    New York: US stocks rose 4 per cent on Thursday as the market bounced back from its recent pummeling and investors cheered results from Cisco and US jobless claims data. Financials shares bounced back sharply after leading losses on Wednesday, with the S&P financial sector up 7 per cent. Labor Department data...
  • ICICI raises benchmark lending rate by 50 bps August 12, 2011

    Mumbai: ICICI Bank, India's secondlargest lender, said on Thursday it would raise its benchmark lending rate, or base rate, by 50 basis points to 10 per cent with effect from Saturday. State Bank of India , the country's top lender, also announced an increase of 50 basis points in base rate...
  • French banks at centre of new funding crunch August 12, 2011

    Paris/London: A new crisis of confidence gripped Europe's banking industry on Thursday as its borrowing costs soared, lenders sought emergency funding, and some institutions reviewed exposure to French banks in particular. Shares in Societe Generale, whose shares dropped 15 per cent on Wednesday, yoyoed for most of the day in heavy...
  • Wall St recovers, S&P 500 and Nasdaq up 4 pc August 12, 2011

    New York: The S&P 500 and Nasdaq rose more than 4 per cent in afternoon trading on Thursday while the Dow added to gains, with energy and financial services companies among the strongest sectors. Solid results from Cisco and mildly encouraging US jobs data helped stocks recover from recent steep losses. The...
  • Dow plunges 519 pts on economy, Europe worries August 11, 2011

    New York: Stocks are falling at the close of trading as investors' attention returns to the weak economy and Europe's debt problems. The Dow Jones industrial average is down 519, or 4.6 per cent, to 10,720. It's the third time in the last five trading days that the Dow lost more...
  • Wall Street tumbles on French bank worry August 10, 2011

    New York: US stocks fell sharply on Wednesday, wiping out most of the previous session's gains, on fears of tumult in the French banking sector, which has significant exposure to shaky European debt. US financial stocks led the decline on worries that any French bank problems could spread to them. The...
  • Growth during 12th Plan may be below 9 pc August 10, 2011

    New Delhi: Amid worsening of the global financial problems, the Planning Commission on Wednesday said it may settle for a modest growth target of 8.5 to 8.7 per cent during the 12th Plan period as against 9 per cent contemplated earlier. "We had projected 9.5 per cent (growth) for the 12th...
  • Obama to go on a bus tour to focus on economy August 10, 2011

    Washington: US President Barack Obama will go on a bustour across three states in Midwest, which his aid say is part of his effort to spread the message of economy, while political analysts termed it his preelection campaign to connect directly with the people. "The President will discuss ways to grow...
  • S&P balks at SEC proposal to reveal rating errors August 10, 2011

    Washington: Standard & Poor's, whose unprecedented downgrade of US debt triggered a worldwide stocks selloff, is pushing back against a US government proposal that would require credit raters to disclose "significant errors" in how they calculate their ratings. S&P, which was accused by the Obama administration of making an error in...
  • Dow rallies after Fed statement, up 429 points August 10, 2011

    New York: Stocks are rising at the closing of trading after the Federal Reserve said it has discussed policy moves it can make to spur the economy. The Fed also said growth has been slower than expected. The Dow Jones industrial average is closing up 429 points, or 4 per cent,...