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At a private meeting about deficit reduction at the White House last week, Speaker John A. Boehner told his fellow Congressional leaders and President Obama that he did not spend 20 years working his way up to the top job on Capitol Hill just for the cachet of the title — he wanted to accomplish something big, the New York Times reports.
On Thursday afternoon, I appeared on CNBC with my friend Rick Santelli to discuss the debt limit and what may happen when it is reached sometime in early August. If you saw the piece, you know that Rick became fairly passionate about his position that there should be no compromise on increasing the limit and that the government absolutely has to solve this issue by cutting spending.
German Chancellor Angela Merkel pressed Monday for a quick agreement on a new rescue package for Greece, and said she is confident that Italy will push through an austerity plan.
After the European market closes on Friday, global markets will be digesting the results of the latest set of stress tests for European banks. Those that fail will need to raise more capital and the health of those that pass is likely to remain in doubt given questions being raised about the credibility of the tests.
Hopes of a speedy recovery for the US economy where dashed by Friday’s disappointing jobs number that showed only 18,000 jobs where created by the world’s largest economy in June.
As euro zone finance ministers meet to discuss the latest plan on the table aimed at solving the Greek debt crisis, one fund manager is warning that Italy and Spain will be downgraded, raising the possibility of "carnage" for global markets.
European leaders are for the first time prepared to accept that Athens should default on some of its bonds as part of a new bail-out plan for Greece that would put the country's overall debt levels on a sustainable footing, reported the FT.
What happened in Italy last week was notable. If it continues, it would mark a significant extension of the regional debt crisis that Europe has repeatedly failed to come to grips with.
The Canadian dollar could face near-term headwinds, this strategist says— but after that, prepare for liftoff.
Mississippi Gov. Haley Barbour pulled out of the 2012 presidential race in April but that didn't stop him from sounding like a candidate as he criticized the Obama administration for its economic policies.
The euro gets hit by Italian drama and the dollar falls on a gloomy employment report - time for your FX Fix.
On Saturday, South Sudan becomes the world's newest country and Africa's 54th state, a process that follows 50 years of bloodshed. Renewed violence on its borders has shaken hopes of a peaceful transition to nationhood, but the fledgling country is not a failed state in waiting, analysts and senior figures in the reconstruction effort told CNBC.com.
While governments and local councils may be expected to be prepared to deal with terrorist attacks, extreme weather conditions and contagious diseases, a potential zombie attack might not be top of the list.
Bahrain began its highly-anticipated National Dialogue this week in an effort to restore confidence both domestically and internationally that the Kingdom is committed to working through issues that sparked unrest within its borders in mid-February.
Europe’s banks are growing increasingly angry over the stress tests being run by European regulators, complaining that the process has been excessively rigid, with damaging changes to the exercise rushed through at the last minute, according to the FT.
The European Central Bank is going easy on Portugal, making the euro bounce. Whether the lift will last is another matter.
President Obama speaks following the debt limit meeting. He says it was very constructive and everyone acknowledged the importance of resolving this issue. Both sides will work through the weekend.
The lawmakers want to get to the bottom of whether or not Bloom, who is viewed as an ally of the unions, ever said that he directed White House policy on automakers on behalf of unions.
Dollar lifts, euro slips, and Thailand's prime minister-elect connects on the baht - time for your FX Fix.
The European Central Bank raised interest rates by 25 basis points to 1.50 percent on Thursday, as it continued to brush off concerns over sovereign debt worries in the euro zone periphery, but President Jean-Claude Trichet hinted that a further rise in August is unlikely.