Deven Sharma, president of Standard & Poor's, told a House subcommittee Wednesday that if lawmakers can work out a 'grand bargain' with $4 trillion in deficit cuts over the next decade, the US may yet keep its AAA rating.
The price of gold went up $12.90 an ounce on Monday alone, closing at $1,614.40. But if the debt ceiling is raised, the gold price could come down over the short term.
President Obama convened an unusual Saturday meeting with Congressional leaders on the looming government default. The session lasted less than an hour, and the atmospherics appeared grim.
President Obama runs the risk of overexposure, not to mention alienating his base, if he keeps holding public chats about compromise on the debt ceiling. But he's got his reasons for being so vocal.
The markets are counting on Washington to raise national debt ceiling by Aug. 2, but that's not all. Wall Street also expects a deal that cuts the size of US budget deficit. How much is it looking for?
Media barons Rupert and James Murdoch, as well as Rebekah Brooks, testify in Britain's House of Commons today in the wake of outrage over revelations of widespread phone-hacking and influence-peddling at News Corp.
The political dance over the US debt ceiling crisis continued Sunday with the possibility that top lawmakers could be summoned to the White House, although no meeting had been scheduled.
With the deadline approaching, the House and Senate are going down two different paths in search of a deal to raise the debt ceiling. Here is a rundown of what they are considering.
Eight European banks flunked a financial health check meant to reassure investors. But critics argue for tougher tests to weigh the impact of a sovereign default.
Fed Chairman Ben Bernanke warns of a 'self-inflicted' wound, and Wall Street firms see dire consequences, if stalemate over how to raise the US debt ceiling persists.