Congressional leaders from both parties are working out the details of a two-year federal budget deal they hope to vote on before the holiday recess.» Read More
WASHINGTON, Oct 16- U.S. Senate leaders struck a bipartisan 11th- hour deal to break the fiscal impasse on Wednesday, and the Republican-led House of Representatives agreed to take it up as Congress moved to avert a historic debt default.
U.S. stocks surged, nearing an all-time high, on news of the deal, which must still be approved by vote in the Senate and the House of Representatives.
*Senate leaders announce agreement reached. NEW YORK, Oct 16- U.S. stocks surged more than 1 percent on Wednesday after Senate leaders said they had a deal to reopen the federal government and raise the debt ceiling to avoid a U.S. debt default.
*Senate deal likely to be approved by House. NEW YORK, Oct 16- The dollar rose on Wednesday after the Senate announced a deal that would avert a U.S. default on its debt and re-open a government that has been partially shut down for two weeks.
*Senate leaders announces agreement reached. NEW YORK, Oct 16- U.S. stocks surged on Wednesday, nearing an all-time high, after Senate leaders said they had reached a deal to raise the government debt ceiling, one day before the U.S. defaults on its debt.
WASHINGTON, Oct 16- U.S. Senate leaders struck a bipartisan 11th- hour deal to break the fiscal impasse on Wednesday, and the Republican-led House of Representatives agreed to take it up as Congress moved to avert a historic debt default. The timing of the House and Senate votes is unclear.
WASHINGTON, Oct 16- The U.S. Senate announced a last-minute deal on Wednesday to avert a historic lapse in the government's borrowing ability and a potentially damaging debt default, and to reopen the government after a two-week shutdown.
WASHINGTON, Oct 16- U.S. Senate Democratic leader Harry Reid and Senate Republican leader Mitch McConnell announced a bipartisan deal on Wednesday to raise the U.S. debt limit and end the government shutdown.
*Senate leaders said to be close to a deal. But even if the Senate and House of Representatives manage to overcome procedural hurdles to seal the deal before Thursday- when the Treasury says it will exhaust its borrowing authority-- it will only be a temporary solution that sets up the prospect of another showdown early next year.
*Senate leaders said to be close to a deal. The top Democrat and Republican in the Senate were close to finishing a plan to raise the debt limit- and reopen the partially shuttered government- that could be considered by the full Senate later on Wednesday.
*Senate leaders said close to deal, would also reopen government. WASHINGTON, Oct 16- The U.S. Senate prepared for a last ditch effort Wednesday to avoid a historic lapse in the government's borrowing authority, a breach that President Barack Obama has said could lead to default and deliver a damaging blow to the global economy.
*Senate plan would extend borrowing authority to Feb. 7. Senate aides said a deal was close but details remained to be worked out, and earlier hopes that a deal could be announced late on Tuesday were not met.
*Senate plan would extend credit limit until Feb. 7. WASHINGTON, Oct 15- Democratic and Republican leaders in the U.S. Senate could announce a deal late on Tuesday to extend the government's borrowing authority until Feb. 7 and quickly re-open federal agencies that have been closed since Oct. 1, a Senate aide said.
Marie Owens Thomsen, Senior Economist & Strategist, Credit Agricole Private Banking explains why structural issues are much more concerning than the current U.S. debt debacle.
*Senate talks resume after waiting for House plan. Chaotic negotiations to end the U.S. fiscal impasse failed to produce a deal, and left Congress and President Barack Obama desperately searching for a way to reopen the government and raise the country's debt limit ahead of a Thursday deadline.
*Senator Durbin says U.S. Senate talks suspended. But what you can be sure is that China will pay very close attention to this rating, "said Douglas Borthwick, managing director at Chapdelaine Foreign Exchange in New York." I would expect comments from China and Japan regarding their frustration over the lack of conclusion of the U.S. debt talks.
WASHINGTON, Oct 15- Stop-start negotiations to end the U.S. fiscal impasse left congressional leaders and President Barack Obama desperately searching on Tuesday for a way to reopen the government and raise the country's debt limit ahead of a Thursday deadline.
*Europe data shows signs of strength. NEW YORK, Oct 15- U.S. short-term bill rates rose and stocks slid on Wall street as U.S. Senate fiscal negotiations were suspended, making prospects for an agreement to end the U.S. government's budget and debt impasse less promising.
WASHINGTON, Oct 15- Negotiations in Congress to end the fiscal impasse sputtered on Tuesday, leaving both chambers grasping for a way to reopen the government and raise the country's borrowing authority with a Thursday deadline drawing near.
CNBC's Steve Liesman reports Senate majority leader Harry Reid is warning the U.S. could have a rating cut if a deal is not reached by midnight.