Submitted Aug 1, 2011|From reuters.com|6 comments

The tentative U.S. deal to avoid a crushing debt default is at best a mild relief for the U.S. economy that nearly stalled in the first half of the year and has yet to show signs of any realistic pickup. The plan for $2.4 trillion in spending cuts ...

Submitted Jul 28, 2011|From money.cnn.com

The two calamity-avoiding debt ceiling measures under consideration in Congress have something in common. House Speaker John Boehner says his bill has $1.2 trillion in discretionary spending cuts over ten years. Senate Majority Leader Harry Reid ...

Submitted Jul 26, 2011|From bloomberg.com|5 comments

The U.S. government can avoid a default for at least a month after the Aug. 2 deadline to lift the debt ceiling set by the Treasury Department, said John Silvia, chief economist at Wells Fargo Securities LLC. “The Federal Reserve and the Treasury ...

Submitted Jul 22, 2011|From reuters.com

Efforts to avoid an unprecedented U.S. default enter crunch time on Friday, with President Barack Obama and top lawmakers engaged in a sometimes chaotic drive to strike a sweeping deficit-reduction deal. With the clock ticking toward an August 2 ...

Submitted Jul 19, 2011|From bloomberg.com|5 comments

The euro strengthened against the dollar and Swiss franc on speculation European officials are nearing agreement on measures designed to halt contagion from the region’s debt crisis. The 17-nation currency also rose versus the yen as Italian bonds ...

Submitted Jul 14, 2011|From bloomberg.com|35 comments

President Barack Obama “abruptly” walked out of today’s White House meeting with legislative leaders on the federal deficit, House Majority Leader Eric Cantor told reporters. Cantor said he told Obama “we are far apart” on proposals to cut the ...

Submitted Jul 6, 2011|From en.easy-forex.com|4 comments

Will the ECB surprise the markets on Thursday? The European Central Bank (ECB) will decide its next monetary move on Thursday 7 July at 11:45 GMT. This time around the market is pricing in the second interest rate hike following the financial crisis ...

Submitted Jul 5, 2011|From bloomberg.com

The Australian dollar ended two days of declines against the U.S. currency before a government report tomorrow that economists said will show the nation added the most jobs in three months. New Zealand’s currency rose from near a one-week low as ...

Submitted Jul 1, 2011|From bloomberg.com|2 comments

Negotiators will need to reach agreement on raising the U.S. debt limit no later than July 22 so that legislation can get passed in time to stave off a default on U.S. debt, two Democratic officials familiar with the talks said. The Senate yesterday ...

Submitted Jul 1, 2011|From bloomberg.com|1 comment

What will it take to fix a European Union troubled by heavy debts and internal friction? The story of the U.S., which celebrates its 235th year of independence on July 4, offers a parable that Europe’s leaders might find instructive. In the late ...