After bringing the United States to within two weeks of a potential debt default, Congress late Wednesday was on the verge of a deal that would avert the crisis through…
more ...US Senate Appears Near Temporary Truce in Debt-Ceiling Standoff
The U.S. Senate appeared near to a temporary deal to avert a federal debt default in the next two weeks, after Democrats said Wednesday that they might accept a Republican…
more ...How Could America’s Debt Ceiling Showdown Play Out?
The U.S. Congress is locked in a standoff that risks triggering a financial and economic meltdown if lawmakers don’t raise a limit on government borrowing before Oct. 18, the day…
more ...As Prices for Goods and Services Rise Worldwide, Inflation Feels Less ‘Transitory’
Consumers around the globe face higher prices for a wide variety of everyday purchases, as supply chain problems bedevil markets for all manner of goods, and energy prices spike to…
more ...IMF Head Says Global Economy is Still ‘Hobbled’ by COVID-19 Pandemic
The head of the International Monetary Fund is warning that the global economy is facing a slow recovery due to the “Great Vaccination Divide” between the world’s wealthiest and poorest…
more ...Biden Says Bypassing Filibuster ‘Real Possibility’ to Raise Debt Limit
U.S. President Joe Biden indicated Tuesday senators from his Democratic Party could bypass a supermajority voting rule in order to increase the nation’s debt limit without Republican votes. “It’s a real possibility,” Biden told…
more ...Nigerians Optimistic About Launch of New Digital Currency eNaira
Many Nigerians are optimistic as Africa’s largest economy gears up to launch the continent’s first central bank-backed digital currency, the eNaira. Authorities hope to tap into the popularity of cryptocurrency…
more ...Global Supply Chains Struggle with Surging Demand
Container ships anchored off the coasts of the United States have been told they could face a four-week delay before being allowed to dock and unload goods consumers are eagerly…
more ...US to Have ‘Frank’ Discussions with China About Trade
The top United States trade negotiator said China is failing to live up to its trade commitments from last year and that Washington would soon have “frank conversations” with Beijing. In a speech Monday in Washington, U.S. Trade Representative…
more ...Colleagues’ Stock Trading Scandals Slow Fed Chief Powell’s March to Renomination
With time ticking down on his term as chairman of the U.S. Federal Reserve Board, Jerome Powell’s reappointment to the post looks less certain than it did just a few…
more ...Secret Wealth of High-Profile Individuals Revealed in ‘Pandora Papers’ Leak
World leaders, politicians and pop stars are among the thousands of individuals revealed to be concealing huge wealth through a network of anonymous companies. The documents, known as the Pandora…
more ...Share Trading in Embattled China Evergrande Halted in Hong Kong
Trading in shares of heavily indebted China Evergrande was suspended on Monday, days after some bondholders said the property developer at the center of jitters over China’s financial system had missed a second key bond…
more ...No More Immigration: PM says Britain in Period of Adjustment
British Prime Minister Boris Johnson said on Sunday he would not return to “uncontrolled immigration” to solve fuel, gas and Christmas food crises, suggesting such strains were part of a…
more ...Surviving the Pandemic: Bistro, Beer, Books and Bikes Make a Go of It
Life in the United States in 2021 seems more normal than the year before. The arrival of vaccines means the relaxing of rules for restaurant goers and sports enthusiasts. Even…
more ...Biden Says He’ll ‘Work Like Hell’ to Pass Infrastructure, Social Spending Bills
U.S. President Joe Biden said on Saturday he was going to “work like hell” to get both an infrastructure bill and a multi-trillion-dollar social spending bill passed through Congress and…
more ...Fitch Says US Sovereign Rating Pressured by Debt Limit Brinkmanship
Fitch Ratings said Friday the United States’ AAA sovereign credit rating could be pressured if federal lawmakers fail to address the debt ceiling in a timely manner, noting that political…
more ...US Consumer Spending Beat Expectations in August; Inflation Rises
U.S. consumer spending increased more than expected in August, but a downward revision to July data kept intact expectations that economic growth slowed in the third quarter as a resurgence…
more ...America’s Investment in Infrastructure Doesn’t Always Pay Off
About two centuries ago, American local, state and federal governments poured millions of dollars into building canals to move the nation’s people and goods. By 1840, there were 3,000 miles…
more ...US Jobless Benefit Claims Edge Higher Again
First-time claims for U.S. unemployment compensation edged higher again last week, the Labor Department reported Thursday, as the delta variant of the coronavirus continues to play havoc with the world’s…
more ...5 Ways US Debt Default Would Echo Through Global Economy
U.S. lawmakers have less than three weeks to avert a default on the country’s sovereign debt by raising the limit on the amount of money the Treasury Department can borrow.…
more ...Democratic-Controlled Congress Poised to Approve Stopgap Funding to Keep US Government Open
The U.S. Senate is set to vote Thursday on a stopgap funding measure to avert a partial federal government shutdown. Approval in the Senate would send the matter to the House…
more ...US Trade Officials Delay Decision on New Solar Tariffs
The U.S. Commerce Department on Wednesday asked a group of anonymous domestic solar manufacturers for additional information before it would consider a request to impose duties on panels produced in…
more ...South Korean Fisherman Allege Chinese Fleet Sweeps Up Marine Life
China is the world’s largest seafood consumer, and its fleet often fishes waters claimed by South Korea. When South Korean authorities try to enforce international regulations, they often meet fierce…
more ...Malawi Court Hands Lengthy Prison Term to Chinese Wildlife Trafficker
A Malawi Magistrate’s Court in the capital, Lilongwe, has sentenced a Chinese national, described by some as one of the biggest African wildlife trafficking kingpins, to 32 years in prison…
more ...Australia Divided Over Future of Mighty Coal Industry
Australia is under growing international pressure to commit to net-zero carbon emissions by 2050, but the policy is fiercely dividing its center-right government. Australia is one of the world’s major…
more ...World Bank Forecasts Slow Economic Growth for East Asia and Pacific Region Due to COVID-19
The World Bank is predicting slower economic growth for developing nations in the East Asia and Pacific regions due to the COVID-19 pandemic. A report issued by the bank Tuesday…
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