Richard Cowan
latest news & developments
Democrats hold on to Senate, Republicans retain House
Reports say the Democrats will retain control of the US Senate, after earlier reports said Republicans would keep the House of Representatives.
Republicans perform about-turn on taxes
Having said no to taxes for months, Republicans now are saying maybe in the face of public disgust over a deadlock in the US Congress.
Republican rebels force new delay in US debt crisis
Efforts to avoid an unprecedented US debt default suffered a new blow on Thursday when fiscally hardline Republicans blocked a budget deficit plan.
United States debt war threatens world markets
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.