Last month's dreams of a "grand bargain" of tax hikes and spending cuts seem long gone and a stop-gap that puts everything off for a while but resolves nothing is now the most promising alternative.
Rigorous new sanctions against Iran's banking, shipping and industrial sectors took effect on Saturday, as part of the European Union's effort to force Tehran to scale back its nuclear program.
"What could have been a merry Christmas is going to turn to a ho-hum Christmas, and we can thank our, you know, politicians for getting in the middle of it all," said a retail analyst.
While everyone's worried about the economy going over the "cliff," the truth is, the market will be the first to go over if something doesn't happen soon.
Even if BlackBerry 10 succeeds, it still probably won't reverse Research In Motion's profit decline.
The dollar was lifted by safe-haven buying as investors fled higher-yielding assets and bought safer U.S. instruments
Apple's stock plunge is hurting investors who chased hot mutual funds that loaded up on Apple as the stock raced to a record $705 per share.
Shares of RIM fell on Friday on fears that a new fee structure for its high-margin services segment could put pressure on the business.
"About half all the new jobs created in the United States in the last year were in California,” says Bill Lockyer, California's Treasurer.
Hostess Brands could close sales of some assets by mid-March, according to testimony in bankruptcy court in Lower Manhattan Friday.
Congratulations Instagram users, your photos are safe from advertisers for the time being.
App-makers are pulling out all the stops this Christmas season. Here are some of Julia Boorstin's favorites.
Global investors are betting Washington will overcome its budget deadlock despite an apparently serious setback. Republican lawmakers rejected a proposal on Thursday by their leader, House of Representatives Speaker John Boehner, designed to extract concessions from President Barack Obama.
Arnab Das, managing director of market research and strategy at Roubini Global Economics, tells CNBC that intense ideological divides are contributing to the failure to reach a deal.
Laurence Wormald, head of research at SunGard APT, tells CNBC that going over the fiscal cliff could badly hit US banks and the dollar with things getting worse very quickly.
John Studzinski, renowned investor and senior managing director at The Blackstone Group, tells CNBC that US lawmakers still have time to agree a fiscal cliff deal as you don't agree a deal until the final hour.
Jane Foley, senior currency strategist at Rabobank, tells CNBC that the stock market has been complacent that a fiscal cliff deal will be reached.
Friday could be a tense day for markets, as a resolution to the "fiscal cliff" appears less likely in the final trading days of the year.
Peter Madoff will serve 10 years in prison for his role in his older brother's multibillion-dollar Ponzi scheme, a U.S. judge said Thursday.
The Fast Money crew offers special CNBC.com-only advice on your investments.