An index that hints at the outlook for the U.S. economy rose modestly in August but fell short of Wall Street expectations.» Read More
According to the former representative, both parties are "trying to bamboozle the American people."
The former president of the European Central Bank also told CNBC the shutdown signals "enormous difficulty" for the nation's democratic processes.
The cost of insuring one-year U.S. bonds against default rose above the rate of insuring five-year debt for the first time since July 2011.
"This shutdown is bad. It's painful. [But] we hit this debt ceiling. That's catastrophic," Erskine Bowles tells CNBC.
The manufacturing sector last month expanded at its fastest pace in almost 2-1/2 years while firms added the most workers in 15 months.
Stock market traders and investors don't believe the upcoming fight over the debt ceiling will result in a U.S. default, value investor Bill Miller told CNBC.
Stocks would likely sell off if Congress shuts down the government, but the real turbulence begin if the closure does not end swiftly.
The first partial shutdown of the U.S. government in 17 years is likely to leave risk aversion hanging over global markets, analysts say.
Online retailer Amazon will hire more than 70,000 full-time jobs for the holiday season to meet an increase in customer demand, the company has said in a press release, marking a 40 percent hike in hiring from the year before.
The U.S. is bickering about the debt ceiling once again but the market is bored with the debate and that boredom is reflected in the charts.
There were some signs on Sunday that the House may try and find a last minute solution to keep the federal lights on at least for a few more days.
The trade deficit between the world's two largest economies cost the U.S. $37 billion in lost wages in 2011 and could get worse, a study shows.
Retail gas prices have dropped at the fastest rate in nearly a year to the lowest national average since January.
As investors prepare for political stalemate in Washington, many argue a shutdown should be short-lived, but how will markets take the news?
Janet Yellen found love at the Fed. She met him at a luncheon in 1977, launching a whirlwind romance that led to marriage in less than a year.
The risk of a delay to Friday's U.S. jobs release as a potential government shutdown looms could deal financial markets a huge blow, analysts say.
More than $1 billion has been wiped off earnings estimates for five Wall Street banks on fears of a decline in trading revenues. The FT reports.
Obama said his message to Congress is: Do not shut down the government, do not shut down the economy. He also said he spoke with Iran's president.
Lobbying for Larry Summers as Fed chairman should have happened earlier and been more aggressive, according to friends who spoke to CNBC.
U.S. consumers increased their spending last month as their income grew at the fastest pace in six months.
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