US DEBT DEAL

  • 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. ...
  • 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...
  • 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...
  • 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...
  • 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...
  • Asian stocks tumble after Wall Street rout August 9, 2011

    Sydney: Asian equity markets were sharply down early on Tuesday as investors fearing a possible global economic slowdown continued to flee stocks. Oil fell below $ 78 per barrel, toppling to its lowest price of the year on concerns that a slowing global economy could crimp demand for fuel. Japan's...
  • Gold surges to a record high of Rs 25,978 August 8, 2011

    New Delhi: Gold surged to record high by adding Rs 536 to Rs 25,978 per 10 grams in futures trading on Monday on buying by speculators, driven by a strong overseas trend, where investors sought safe haven following downgrading of the US credit rating. The rising...
  • US downgrade has no immediate impact on Asia: S&P August 8, 2011

    Sydney: Credit rating agency Standard and Poor's sought to assure global investors on Monday that its historic downgrade of the US credit rating would have no immediate impact on sovereign borrowers in the AsiaPacific. But the agency, which incurred Washington's wrath at the weekend by cutting its AAA rating by a...
  • Risk of new recession in US: ExObama advisor August 8, 2011

    Washington: President Barack Obama's former economic advisor on Saturday warned of a new recession plaguing the American economy, even as he attacked the S&P's track record, which has downgraded country's credit rating from AAA to AA+. "S&P's track record has been terrible, and as we have seen this weekend, its...
  • US rating effect: Asian markets choppy August 8, 2011

    New Delhi: All major Asian markets opened weak on Monday in the first trading session after the US lost its topnotch credit rating, as the debt crisis in America and Europe took a toll on the investor sentiment across the world. South Korean shares opened 1.40...
  • US downgrade to hit commodity prices August 8, 2011

    Singapore: Commodities, except gold, will likely fall when markets open on Monday due to a US ratings downgrade and a worsening debt crisis in Europe but panic shall be avoided. Bullion should benefit from renewed riskaversion while outlook for demand for oil, base metals and grains deteriorates. Strong economic growth in China,...
  • World leaders in huddle over US debt crisis August 7, 2011

    Washington: The policymakers from across the world engaged themselves in emergency huddles on Sunday to discuss the twintrouble of an unprecedented downgrade in the US' creditworthiness and the debt crisis in Eurozone. The two issues have been the major reasons for the meltdown in global markets last week, when more than...
  • India faces $41 billion exposure to US debt August 7, 2011

    New Delhi: As one of the 15largest foreign creditors to the US, India's exposure to the United States' ballooning debts is estimated at $41 billion, higher than the money America owes to countries like France and Australia. The overall national debt of the US is moving nearer to $15 trillion, out...
  • Obama officials attack S&P's credibility August 6, 2011

    Washington: The Obama administration attacked the credibility of the analysis underlying Standard & Poor's decision to downgrade the United States' top credit rating on Friday, saying it had found a $2 trillion error. S&P was forced to remove the number from its analysis after Treasury officials discovered that the rating agency's...
  • China blasts US, urges new global currency August 6, 2011

    Shanghai: China on Saturday condemned the "shortsighted" political wrangling in the United States over its debt problems and said the world needed a new global stable reserve currency. "China, the largest creditor of the world's sole superpower, has every right now to demand the United States address its structural debt problems...
  • Jobs report is good enough to calm Wall Street August 6, 2011

    Washington: Better. The job market beat expectations, and the stock market managed a modest gain not great, but good enough after a turbulent week. The nation added 117,000 jobs in July, the government said on Friday far from what happens in a healthy economy, and only good for...
  • US stock markets close on a flat note on Friday August 6, 2011

    New York: The US stock markets closed on a flat note on Friday, after they witnessed wild swings, trading in a range of 400 points during the day. The Dow Jones industrial average ended the day up 61 points, or 0.5 per cent, at 11,444.68. The S&P 500 closed lower by...
  • What is credit rating? August 6, 2011

    Credit rating is based upon the history of borrowing and repayment, as well as the availability of assets and extent of liabilities. ...
  • US credit rating downgraded, worst week in 3 years August 6, 2011

    The United States lost its topnotch AAA credit rating from Standard & Poor's on Friday. ...
  • Giffords makes dramatic return for debt vote August 2, 2011

    Houston: US Congresswoman Gabrielle Giffords made a dramatic return to the House of Representatives to vote for the debt ceiling bill, nearly seven months after she was shot in the head. Giffords made an emotional return to the House floor on Monday, casting a vote in...
  • China slams US debt deal politics August 2, 2011

    America's largest foreign creditor, China, has repeatedly urged Washington to protect its dollar investments. ...
  • US debt deal to affect world markets August 2, 2011

    The US House of Representatives passed the debt ceiling bill. The US Senate will now vote on the deal. ...
  • US House approves debtceiling deal August 2, 2011

    Washington: The House of Representatives on Monday approved a lastgasp deal to raise the US borrowing limit in a decisive step toward averting a catastrophic debt default by the world's largest economy. A day before the deadline to lift the debt ceiling, the passage by the Republicancontrolled House of the $2.1...
  • Key elements of possible US debt deal August 1, 2011

    Washington: President Barack Obama announced on Sunday that Republican and Democratic leaders had agreed on a lastditch deal to raise the US borrowing limit and avoid a catastrophic default, and he urged lawmakers to "do the right thing" and approve the agreement. Here is a summary of the deal, based on...
  • Sensex jumps 243 pts as US hikes debt ceiling August 1, 2011

    Mumbai: The Bombay Stock Exchange benchmark Sensex shot up by nearly 243 points in opening trade on Monday as global markets cheered an agreement reached by US lawmakers to raise the country's debt ceiling and avoid a default. The 30share BSE index, which lost over 674 points in the previous four...
  • US debt deal: Sensex expected to start higher August 1, 2011

    Mumbai: The BSE Sensex is expected to start higher on Monday after a US debt deal to avoid default boosted shares across Asia. Steel Authority of India Ltd will be on the radar after the largest domestic steel producer said late on Friday it expects steel demand to improve and held...
  • US lawmakers seal debt deal but hurdles remain August 1, 2011

    Washington: President Barack Obama on Sunday announced a lastminute deal to raise the US borrowing limit and urged lawmakers to "do the right thing" and approve the proposed agreement to avert a catastrophic default. Laying out the endgame in the crisis just two days before a deadline to lift the US...
  • Can US lawmakers seal the debt deal in time? July 31, 2011

    If the US doesn't raise the $ 14.3 trillion debt ceiling by Tuesday, it will run out of money. ...
  • White House back in debt talks as deadline looms July 31, 2011

    Washington: Top congressional Republicans held fresh talks on Saturday with President Barack Obama to try to break a deadlock on raising the debt limit and expressed confidence that a default by the world's largest economy could be avoided. While engagement with the White House after a week of poisonous political stalemate...
  • US lawmakers race against clock on debt limit July 30, 2011

    Washington: Facing a deadline to avoid a ruinous US default, congressional leaders on Saturday braced for a tense weekend of negotiations to try to reach a compromise on a measure to increase in the country's $14.3 trillion debt limit. Senate Democrats aimed to seize the initiative by pushing their deficitcutting plan,...