Partisanship is as bad as it gets, meaning raising the $17 trillion borrowing limit may be tougher than expected, POLITICO's Ben White says.» Read More
*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.
WASHINGTON, Oct 15- Republicans in the U.S. House of Representatives struggled to find a strategy on Tuesday to end a fiscal impasse, complicating prospects for a deal with President Barack Obama to reopen the government and raise the country's borrowing authority.
If the U.S. breaches the debt ceiling, the Treasury will have to get creative in deciding what gets paid. CNBC's Steve Liesman acts like Treasury Secretary Jack Lew.
*Gold steadies after falling to 3- month low. NEW YORK, Oct 15- Mixed signals from Washington on progress in the budget and debt talks left markets confused on Tuesday, boosting the dollar, but U.S. stocks slipped and an auction of short-term U.S.
Discussing the approach of the House to reach a deal in Washington, with Peter Blair Henry, dean of NYU Stern School of Business; Rep. Marsha Blackburn (R-TN); and CNBC's John Harwood.
CNBC's John Harwood reports the House is still clearly divided on a debt deal. The House proposal is still being tweaked.
LONDON, Oct 15- Copper fell on Tuesday as divisions between lawmakers in Congress over extending the U.S. government's borrowing limit weighed on investors who were already concerned about a growing market surplus.
WASHINGTON, Oct 15- Republicans in the U.S. House of Representatives failed to reach internal consensus on Tuesday on how to break an impasse on the federal budget that could soon result in an economically damaging default on the country's debt.
Senate Majority Leader Harry Reid denounces a measure reportedly being considered by House Republicans, warning that it brings the country closer to a default even as ratings agencies are "talking" about a downgrade of U.S. debt "as early as tonight."
*Wall St lower as Citi results offset Washington optimism. NEW YORK, Oct 15- Global equities markets rose and the dollar strengthened on Tuesday on signs of progress in Washington's budget and debt talks, though U.S. stocks edged lower on Citigroup's weaker-than-expected quarterly earnings.
*Silver slides more than 3 pct to two-month low. LONDON, Oct 15- Gold prices steadied on Thursday as an early drop to three-month lows tempted some buyers back to the market, but stayed under pressure as hopes that policymakers are close to resolving U.S. debt negotiations in Washington lifted stocks and the dollar.
*Citigroup adjusted profit hit by bond trading slowdown; shares dip. NEW YORK, Oct 15- U.S. stocks fell on Tuesday after a four-session rally as Citigroup reported weaker-than-expected quarterly earnings, overshadowing developments in the Washington budget and debt-limit talks.
WASHINGTON, Oct 15- U.S. senators expressed hope that a bipartisan deal could emerge on Tuesday to end Washington's fiscal crisis even as Republicans in the House of Representatives said they were working on a separate plan. "I think we'll get an agreement today in the Senate," Arkansas Democrat Mark Pryor told CNN's "New Day" program.
WASHINGTON, Oct 15- U.S. Senate Majority Leader Harry Reid said on Tuesday he was confident that Senate Democrats and Republicans can reach a comprehensive fiscal agreement this week that avoids a U.S. default on debt and other obligations. "There are productive negotiations going on with the Republican leader.
The Fed won't taper its bond-buying program for three or four months because of the D.C. budget overhang, said David Tepper, founder of Appaloosa Management.