S&P, one of the three major credit-rating firms, downgraded its rating for US debt Friday night – a move that has the potential to further spook global markets and drive up borrowing costs in the US. The reason for the downgrade, S&P said, was congressional dysfunction.
British Foreign Secretary William Hague backed up Mustafa Abdul Jalil's comment yesterday that rebels would be willing to sign an agreement allowing Qaddafi to remain in Libya.
European leaders in Brussels today agreed to a deal for Greece that includes $156 billion in aid, private investors, and extending the maturity period on Greek bonds.
With the spotlight shining bright on Rupert Murdoch, his media empire, and his political ties, British columnists are offering up searing critiques on every aspect of the phone hacking scandal. Here's a sampling:
Standard & Poor's called the proposal to roll over Greek debt tantamount to default. In Germany, some economists are challenging German part in eurozone bailouts.