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Global markets sinking in response to failure of GOP vote

NEW YORK (Reuters) – Stock index futures fell on Friday after lawmakers in Washington delayed a vote on a Republican proposal to raise the U.S. government’s debt limit. House of Representatives Speaker John Boehner’s failure to round up enough votes for his plan late Thursday exposed a rift in the…

WATCH LIVE: Boehner provides update on debt ceiling vote

House Speaker John Boehner makes a statement regarding the current state of ongoing debt talks between Democrats and Republicans. Watch this live video from MSNBC, broadcast July 28, 2011. Visit msnbc.com for breaking news, world news, and news about the economy…

House GOP debt plan dead on arrival, but vote to proceed

Republican lawmakers Thursday pressed ahead with a vote on a plan to avert a calamitous US debt default, ignoring White House warnings of a veto as the political wrangling infected global markets. Republican House Speaker John Boehner was to put his two-step plan to raise the nation’s $14.3 trillion debt limit…

Tea party revolt holds possible debt deals hostage

WASHINGTON (Reuters) – A bill to cut the deficit faced a nail-bitingly close vote in Congress on Thursday as the top Republican lawmaker sought to quell an internal revolt and push his plan to avoid a ruinous default. Approval of a plan by House of Representatives Speaker John Boehner would…

U.S. debt deal elusive as default deadline looms

The United States remained on course Wednesday for a potentially calamitous debt default, with common ground still elusive on a deal that would let Washington borrow the cash it needs to to pay its bills. The White House and its divided Republican foes clashed Tuesday but failed to break an…

Politicos Twitter over debt debate

With the White House and Republicans locked in a tense showdown over the US debt, both sides have taken to social network Twitter with a vengeance to score points in 140 characters or less. Since talks began, President Barack Obama’s communications team and their counterparts on House Speaker John Boehner’s…

IMF chief warns of global dangers of U.S. default

IMF chief Christine Lagarde warned Tuesday the clock was ticking on a US debt deal, as the dollar slid to new lows amid concerns of a looming and unprecedented default by the world’s top economy. President Barack Obama, in a solemn late night address to the nation, hit out at what…

Asian shares fall on U.S. default fears

Asian stocks fell on Monday as US talks aimed at raising the country’s debt limit fell apart, raising the spectre of a default, although losses were muted on expectations a deal would be reached. The crisis weighed on the dollar, sending it to its lowest level against the yen since…

Watching the debate, U.S. markets show no panic yet

Market experts are closely following the US debt ceiling talks, but they appear more worried about the economic impact of failure to reach an accord rather than a dramatic slide in the stock market. Still, it is the fear of a dramatically lower stock market opening Monday that has helped…

GOP leader Cantor pulls out of debt limit talks

WASHINGTON – House Majority Leader Eric Cantor (R-VA) abruptly pulled out of debt limit negotiations Thursday, citing an impasse on taxes, with the deadline to raise the ceiling or begin defaulting just six weeks away. “I believe that we have identified trillions in spending cuts,” Cantor said in a statement,…

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