The US standoff over debt plans offers little hope of compromise, increasing the threat of a ratings downgrade that could sow chaos in global markets.
The US failed to achieve a budget breakthrough on Sunday and instead worked on rival plans in an impasse that heightened prospects for a debt fault.
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/ 7 December 2009
The biggest climate meeting in history opened on Monday with hosts Denmark saying an unmissable opportunity to protect the planet was ”within reach”.
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/ 10 September 2009
President Barack Obama’s top climate change negotiator on Thursday said international talks to cut carbon emissions were ”difficult”.
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/ 29 January 2009
Barack Obama scored his first major legislative victory on Wednesday with passage of an -billion economic stimulus package.
A media report on on Wednesday claims that National Police Commissioner Jackie Selebi is about to be fired.
With the US economic outlook darkening, Barack Obama went to Congress two weeks before taking office to try to entice support for a stimulus package.
The US House of Representatives set aside doubts that prevailed a few days ago and passed a landmark -billion Wall Street bailout bill on Friday.
The US Senate has approved a -billion bailout of the financial industry, putting pressure on the House of Representatives to approve the plan.
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/ 21 September 2008
The Bush administration asked Congress on Saturday for -billion to bail out firms burdened with bad mortgage debt.