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The Latest Breaking News from Janet Yellen

Stock Market Today: Stocks Turn Lower Amid Debt Ceiling Setback

The major indexes swung lower Friday after lawmakers reached an impasse in debt ceiling negotiations.

Kiplinger

Yellen Sends a Chilly Message to U.S. Banks

The banking crisis is not over and additional bank consolidations may be needed.

The Street

Scoop: Janet Yellen’s private debt ceiling warning to Wall Street

Behind closed doors, Yellen says borrowing costs are already rising.

Axios

From analysis to the latest developments in health,
read the most diverse news in one place.

Tesco chair steps down after allegations of inappropriate behaviour; Rishi Sunak and Akshata Murty lost £200m in a year – as it happened

John Allan to stand down after allegations of inappropriate behaviour, while latest Sunday Times rich list shows first fall in the number of billionaires since financial crisis

The Guardian - UK

G7 leaders discuss China 'economic coercion' threat

Leaders from the Group of Seven wealthy democracies are meeting in Hiroshima, Japan, Friday with Ukrainian President Volodymyr Zelensky expected to join the group in person on Sunday.

France 24

G7 stance on China complicated by huge stakes in economic ties, cooperation on global issues

Leaders of the Group of Seven advanced economies are generally united in voicing concern about China

The Independent UK

Why a government default could be worse than a government shutdown

All the hand-wringing over a potential government default if Congress doesn’t increase the national debt limit has conjured up images of past government shutdowns

The Independent UK

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The True Cost of an Extended US Debt-Ceiling Standoff

Recurring struggles over the borrowing limit undermine the status of the US as an economic superpower.

Businessweek

A group of over 140 CEOs and Wall Street titans including David Solomon just signed an open letter warning stocks will crash if politicians can’t raise the debt ceiling

"We write to emphasize the potentially disastrous consequences of a failure by the federal government to meet its obligations,” the group wrote Tuesday.

Fortune

What is the US debt ceiling? How does it affect the economy? Could Australia be impacted?

The United States is rapidly running out of money to pay its bills unless the Republicans and Democrats can agree on a new deal. Here's how the US got here, and what it means for Australia.

ABC News

ASX closes lower as Incitec Pivot's profit falls, US recession warning as debt ceiling deadline looms — as it happened

The Australian share market closes lower as Incitec Pivot records a lower profit result, and the US Treasury secretary warns a recession is likely unless a deal is struck over the debt ceiling. Look back on the day's business and market news with our blog.

ABC News

What to expect as the US continues with debt ceiling negotiations

Republican lawmakers continue to insist on cuts to social programmes as US debt default looms on the horizon.

Al Jazeera

Top Obama economist says we should abolish the debt limit as the current political 'brinksmanship' hurts the economy

The Harvard professor has argued since 2017 that the debt ceiling no longer helps restrain the national debt as intended.

Fortune

Biden reportedly cuts Asia trip short as debt ceiling talks enter crunch time – as it happened

President will return to the US on Sunday immediately following G7 to ensure Congress takes action to avoid 1 June default

The Guardian - US

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news in one place.

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The Street

Stocks Slip Lower, Retail Sales On Deck, Home Depot Earnings, Buffett Adds Capital One, Horizon Therapeutics Deal In Doubt - 5 Things To Know

Stock futures slip lower with debt ceiling talks in focus; Retail sales on deck after consumers powered Q1 GDP growth; Home Depot earnings in focus as retail week heats up; Warren Buffett's Berkshire Hathaway takes new position in Capital One and Horizon Therapeutics plunges on report FTC will sue to…

The Independent UK

Debt ceiling showdown: Biden and congressional leaders to meet as McCarthy pushes for faster deal

President Joe Biden will discuss the debt limit with House Speaker Kevin McCarthy and congressional leaders at the White House

Axios

Yellen holds firm on potential June 1 debt ceiling deadline

“I still think we’re far apart,” McCarthy told NBC News on Monday.

The Street

Stocks Higher, Retail Earnings Test, Tesla In Paris, Shake Shack Activists, Debt Ceiling Optimism - 5 Things To Know

Stock futures higher with debt talks, earnings in focus; Week Ahead: Retail sales, earnings to test U.S. consumer strength; Tesla higher as Elon Musk meets with French President Macron; Shake Shack jumps as activists target high-end burger chain and Biden 'optimistic' on debt ceiling deal as Yellen repeats June 1…

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news in one place.

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One news app.

The Street

Bankruptcies Are Up 216% and We Aren't Even Halfway Through 2023

Chilling new data from the S&P shows corporate bankruptcy is soaring, yet the U.S. is not technically in a recession.

Fortune

The debt limit fight is a 'game of chicken' that only has one loser: The U.S. economy

There could be serious economic damage in the U.S. and elsewhere if the debt ceiling fight nears the default deadline.

WEKU

G7 finance leaders pledge to contain inflation and to continue support for Ukraine

Finance ministers and central bank chiefs ended talks in Japan with a joint statement pledging to bring inflation under control while aiding those suffering the most from surging prices.

Bangkok Post

G-7 finance chiefs boost Ukraine aid, propose supply chain plan

NIIGATA: Group of Seven (G-7) finance chiefs put more aid on the table for Ukraine, set up a new supply chain initiative and vowed to fill regulatory gaps in the banking sector in a show of unity on global geo-economic issues after three days of talks.

The Independent UK

Japan's Kishida says G7 facing historic moment as finance leaders wrap up talks on global economy

Japanese Prime Minister Fumio Kishida says the world is facing a “historic turning point” as the country prepares to host the annual summit of the Group of Seven advanced economies next week in Hiroshima

Fortune

JPMorgan CEO Jamie Dimon warns of 'panic' as debt ceiling deadline looms

The U.S. Treasury warns that it might exhaust its ability to borrow money as early as June 1 if Congress does not raise the debt ceiling.

The Independent UK

G-7 talks focus on ways to fortify banks, supply chains as China accuses group of hypocrisy

Financial leaders of the Group of Seven advanced economies are focusing on ways to fortify ever more complicated financial systems and supply chains during meetings in Japan ahead of a summit next week

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