US

A deal by US lawmakers to raise the country's debt ceiling passed its first hurdle last night but failed to lift shares after dreadful manufacturing data.

With the US on the verge of pushing through a deal to raise the country's debt ceiling by at least $2.1trn, American comedian Remy Munasifi gives his own unique take on the proposal.

President Barack Obama has announced a deal to end the US debt crisis, which will raise the nation's debt ceiling by at least $2.1trn and cut the federal deficit by as much as $2.5trn over a decade.

US growth for Q2 has fallen short of analyst expectations to 1.3%, while the Q1 figure has been sharply revised down from 1.9% to 0.4%.

As the budget deficit crisis talks in the US remain in deadlock, a number of US financial institutions including BlackRock, Legg Mason and Allianz Global have written an open letter to Barack Obama and Members of Congress urging them to reduce the deficit...

A chorus of global banks has warned that Washington risks triggering a global slump and may suffer permanent loss of credibility by flirting with default on America's $14.3trn (£8.8trn) federal debt.

A vote on a Republican bill to raise the US's debt ceiling and prevent it from defaulting for the first time has been delayed.

Money market funds in the US are building up liquidity as fears of a downgrade or default on the nation's debt intensify.

M&G's head of retail fixed interest Jim Leaviss has warned the US will see its credit rating downgraded to AA shortly after next year's presidential election.

The dollar touched a three week low against the euro as investors were kept waiting for signs of progress in US lawmakers' attempt to raise the debt ceiling.