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Debt Talks

All articles tagged with #debt talks

cryptocurrency2 years ago

Winklevoss's $1.5B 'Final Offer' Shakes Genesis Debt Talks

Cameron Winklevoss, co-founder of Gemini, has tweeted a "final offer" in the debt-restructuring talks over bankrupt digital-asset firm Genesis, proposing $1.5 billion in forbearance payments and fresh loans. Winklevoss expressed frustration with delays from Digital Currency Group (DCG), the owner of Genesis, in coming up with a satisfactory repayment plan for Genesis creditors, including customers of Gemini's Earn program. The proposed plan includes payments and loans denominated in dollars, bitcoin, and ether. Winklevoss warned of potential lawsuits and default consequences if the deal is not agreed upon by the deadline.

via CoinDesk|
#cameron-winklevoss#cryptocurrency#debt-talks
politics2 years ago

June 5 deadline fails to break debt negotiation deadlock.

With just nine days left until the deadline, Speaker Kevin McCarthy expressed doubt that negotiators could reach a debt deal on Saturday. President Joe Biden continues to speak with his negotiating team multiple times a day and is signing off on offers and counteroffers. GOP negotiator Rep. Patrick McHenry said a deal is hours or days away. The country would run out of funds by June 5, crystallizing the deadline facing Congress. McCarthy said he expects the bill to be approximately 150 pages or less.

via POLITICO|
#deadline#debt-talks#joe-biden
politics2 years ago

Kevin McCarthy Pushes for Spending Cuts to Tackle US Debt Crisis

With a potential federal default just over a week away, Speaker Kevin McCarthy renewed his call on Wednesday for President Biden and congressional Democrats to accept spending cuts in exchange for raising the debt limit and allowing the Treasury Department to avoid missing payments. Despite a series of regular meetings, negotiators have reported little progress on the substance of any agreement. Right-wing Republicans have vowed to oppose any compromise that retreats from cuts that were part of their debt-limit bill, which was approved last month along party lines, so Mr. McCarthy is likely to need a substantial number of Democratic votes to pass an agreement.

via The New York Times|
#debt-talks#democrats#kevin-mccarthy
politics2 years ago

G7 Summit: Biden's Optimism and Reflection on Peace at Hiroshima.

President Biden expressed optimism that a deal can be reached with Republicans to raise the debt ceiling despite recent harsh statements from both sides. However, his aides have continued to sound alarms and he has directed his team to schedule a call with Speaker Kevin McCarthy. The two sides have found some agreement in talks, but are hung up on the details of discretionary spending caps. Biden's public confidence in the prospects for a deal has stirred discontent among some liberals who fear he will give away too much to Republicans. The federal government could run out of options to avoid breaching the debt ceiling as early as June 1.

via The New York Times|
#biden#debt-talks#negotiations
politics2 years ago

Debt ceiling negotiations stall as deadline approaches.

Congress and the White House are still struggling to find a path to avoid default on the nation's debt as the potential June 1 X-date approaches. House Republicans maintain that their job is done, while House Democrats are making a move on the discharge petition. Senate Minority Leader Mitch McConnell remains unwilling to lay a finger on the steering wheel, while Senate Democrats are eyeing both the clock and the speaker. Time is ticking, and each chamber is scheduled to be in Washington just a handful of days before the potential X-date.

via POLITICO|
#congress#debt-talks#democrats
finance2 years ago

Market Volatility Continues as Investors Await Key Economic Reports.

US futures rose and Treasury yields fell after a report showed inflation moderated slightly in April, while traders increased bets that the Federal Reserve will cut rates this year. US consumer prices rose 0.4% in April with headline CPI up 4.9% on a year-on-year basis, slightly below expectations for a 5% rise. The cost of insuring America’s debt against default now eclipses that of some emerging markets and even junk-rated nations. Investors remain on guard to risks from the standoff in US debt talks.

via Yahoo Finance|
#debt-talks#federal-reserve#finance
finance2 years ago

Debt concerns and inflation data drive Wall Street down.

U.S. stock indexes closed lower as investors grew more cautious ahead of a U.S. consumer price index report and a meeting between U.S. political leaders to discuss the debt ceiling. Disappointing forecasts from companies such as PayPal and Apple supplier Skyworks also weighed on the mood. Talks over the U.S. debt ceiling are adding to caution in the market as traders were also waiting for an update on plans for the debt ceiling from a meeting between U.S. President Joe Biden, Republican House Speaker Kevin McCarthy and other congressional leaders at the White House.

via Reuters|
#debt-talks#finance#inflation-data
politics2 years ago

Biden's Economic Outlook Uncertain Amid Debt Talks and Border Concerns.

President Biden is facing a challenging month ahead as he navigates debt talks with Congress and the potential for a surge in border crossings. The administration is seeking to pass a $3.5 trillion spending package, but faces opposition from some Democrats. Meanwhile, officials are preparing for a potential increase in migrants at the southern border as the situation in Haiti and other countries worsens.

via The Wall Street Journal|
#biden#border-surge#congress