By Jason Lange WASHINGTON (Reuters) -The U.S. government could fall behind on its bills next month – and even default on its debt – if Congress doesn’t raise a $31.4 trillion cap on government borrowing, a failure that could trigger economic calamity and panic on global financial markets. What follows is a timeline showing how…
WASHINGTON (Reuters) – The U.S. Treasury said on Tuesday it is asking other federal agencies for greater clarity and communication on the payments they expect to make and receive in the coming days to more accurately forecast when the government will run short of cash without an increase in the federal debt ceiling. A Treasury…
(Reuters) -Moscow said on Tuesday it had routed and killed scores of “Ukrainian nationalists” who crossed into Russia from Ukraine after two days of combat, in what appeared to be one of the biggest incursions of its kind of the 15-month-old war. There was no immediate independent confirmation that the fighting had ended, but the…
WASHINGTON (Reuters) – The United States called for the immediate release of detained Wall Street Journal reporter Evan Gershkovich on Tuesday after Russia’s security service sought to extend his detention. “He shouldn’t be detained at all. Journalism is not a crime. He needs to be released immediately,” White House national security spokesman John Kirby told…
By George Obulutsa NAIROBI (Reuters) – International Monetary Fund staff and Kenya have reached an agreement that could unlock more than $1 billion of new financing, which could help relieve pressure on government finances in East Africa’s largest economy. Kenya’s finances have been under strain from rising debt repayments and the effects of the worst…
RICHMOND, Virginia (Reuters) – U.S. banks should be prepared to borrow regularly from the Federal Reserve’s discount window, while the Fed should make sure loans can be accessed at any time given changes in the speed of banking and transactions, Dallas Fed President Lorie Logan said on Tuesday. The rapid run on and sudden failure…
LONDON (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday she hoped the world economy would not have to wait until the 11th hour for a solution on the U.S. debt ceiling. White House and congressional Republican negotiators are seeking to resolve a months-long impasse over raising the U.S. government’s $31.4 trillion…
By Dan Williams JERUSALEM (Reuters) – The top Israeli general raised the prospect of “action” against Iran on Tuesday even as Prime Minister Benjamin Netanyahu’s national security adviser played down any immediate threat posed by a new underground nuclear facility being dug by Tehran. World powers’ efforts to negotiate new curbs to Iranian uranium enrichment…
BEIJING (Reuters) – China plans to build world-class advanced factory clusters in the Beijing-Tianjin-Hebei region focused on products such as electric vehicles and robots, it said on Tuesday, as the country seeks to confirm its global competitiveness. As tensions have mounted with the United States, Chinese leaders have pledged to build a modern industrial system…
By Gabriel Burin and Noe Torres BUENOS AIRES/MEXICO CITY (Reuters) – Brazilian stocks are expected to keep drifting higher this year on mixed company earnings, as food exporters feel the pinch from slower global growth, while banks take advantage of sky-high interest rates, a Reuters poll showed. The Bovespa equity index has been climbing back…
