tldrdaily.news logo
Tag

Debt Limit Talks

All articles tagged with #debt limit talks

finance2 years ago

European Stocks Drop Amidst Global Uncertainty and Mixed Economic Data

US stocks, as well as equities in Europe and Asia, fell amid growing pessimism over the global outlook. The S&P 500 fell 0.9% as debt-limit talks hit a fresh impasse, raising the risk of a US default and possible recession. Luxury stocks including LVMH and Gucci owner Kering SA extended losses. Chipmaker Analog Devices Inc. slid after a weak outlook on economic uncertainty. Yields on short-dated Treasuries continued to push higher Wednesday, with investors demanding a higher premium on US debt with the highest risk of default.

via Yahoo Finance|
#debt-limit-talks#finance#global-outlook
finance2 years ago

Asian Stocks Rally on US-China Optimism and Chip Rally

Asian stocks rose as President Joe Biden expressed optimism for improved US-China relations, with Hong Kong's Hang Seng Index leading gains. Meanwhile, US and European equity futures were steady as investors awaited progress on debt-limit talks. Traders are also focused on the path for the Fed's benchmark rate, with bets for a hike in June trimmed to 25% as Jerome Powell signaled a pause. Cryptocurrencies saw mixed movement, with Bitcoin falling slightly while Ether remained stable.

via Yahoo Finance|
#asian-stocks#cryptocurrency#debt-limit-talks
politics2 years ago

G7 Summit in Japan: Leaders Address Nuclear Threat and Promote Peace

President Biden held a news conference following the G-7 Summit in Japan, discussing topics such as debt limit talks and negotiations on spending cuts with House Speaker Kevin McCarthy, the war in Ukraine, and relations with China. He urged Republicans to make a move on the debt ceiling negotiations and emphasized that a bipartisan agreement cannot be reached only on Republican “partisan terms.”

via C-SPAN |
#china#debt-limit-talks#politics
politics2 years ago

Debt ceiling drama overshadows Biden's G-7 summit appearance.

President Biden's trip to the G-7 summit in Japan was overshadowed by the ongoing debt limit drama back home. Despite this, the summit showcased the unity of purpose within the G-7 and clear momentum building behind several multilateral initiatives. Biden announced a new $375 million defense aid package for Ukraine and led a historic trilateral meeting with Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol. The G-7 articulated its strongest ever stance toward China's coercive economic practices while accelerating a broader shift to a new industrial policy.

via POLITICO|
#biden#debt-limit-talks#foreign-policy
politics2 years ago

Biden addresses US debt limit standoff at G7 summit.

National Security Adviser Jake Sullivan said that President Biden has expressed confidence to world leaders at the G-7 summit that the US will avoid defaulting on its debt. Biden has warned that a default could be a concern internationally. Talks between White House officials and Republican negotiators resumed on Friday evening after a pause. The lead GOP negotiator said the group had a "candid discussion" after a roughly hour and a half meeting. Earlier this month, Director of National Intelligence Avril Haines said Beijing and Moscow would use a potential default for propaganda purposes.

via The Hill|
#biden#debt-limit-talks#g-7
politics2 years ago

Debt Limit Negotiations: Progress and Partisan Tensions

The demand by Republicans to impose stricter work requirements on recipients of food stamps and other public benefits has drawn a Democratic backlash, underscoring the tricky politics at play in the negotiations. The proposal has become a central issue in negotiations between President Biden and Speaker Kevin McCarthy, which entered a new phase this week as the two offered glimmers of hope that they could reach a deal to increase the borrowing limit, now projected to be reached as early as June 1, and avoid an economic catastrophe.

via The New York Times|
#debt-limit-talks#democrats#politics
politics2 years ago

Debt ceiling deadlock continues as Biden seeks McConnell's support.

President Biden is trying to involve Senate Republican Leader Mitch McConnell in the debt limit talks to undercut Speaker Kevin McCarthy, but McConnell insists that McCarthy will be the Republican point person in the negotiations. Democrats have less confidence in McCarthy as a negotiator who can produce a result. Treasury Secretary Janet Yellen on Monday said Congress has until around June 1 to raise the debt limit or risk a default. Democrats hope they can round up enough Republican votes to pass a clean debt limit increase through the Senate.

via The Hill|
#bipartisan-negotiation#debt-limit-talks#joe-biden
politics2 years ago

The thankless task of writing a GOP budget.

House Budget Chair Jodey Arrington's efforts to move a budget have been undercut by Speaker Kevin McCarthy, who has asserted control over the House GOP conference's initial proposal in debt-limit talks. McCarthy has rallied his members around a package of spending cuts, deregulatory moves, and a short-term debt hike that is slated for a floor vote this week, making Arrington's entire effort appear fruitless. Despite this, Arrington is still publicly committed to drafting a budget that could lay out the GOP's fiscal aspirations for the next decade.

via POLITICO|
#budget#debt-limit-talks#house-gop