Fiscal Cliff

  • Indian markets follow Wall St fall after US elections 08-11-2012 10:00 AM

    New Delhi: Indian markets tumbled on on Thursday as Wall Street worried about the fiscal crisis and the European economy's further deterioration, underpinning the safe-haven dollar and yen as well as US Treasuries on safety bids. US Congress must avert the fiscal cliff of nearly $600 billion worth of spending...
  • US: Obama heads back to a divided government 08-11-2012 07:09 AM

    Washington: One day after a bruising, mixed-verdict election, President Barack Obama and Republican House Speaker John Boehner both pledged on Wednesday to seek a compromise to avert looming spending cuts and tax increases that threaten to plunge the economy back into recession. Senate Majority Leader Harry Reid, D-Nev said "Of...