List of All Articles with Tag 'it'

The government needs to work faster to regulate AI, which has more potential for the good of humanity than any other invention preceding it, Brad Smith, Microsoft president and vice chair, said on CBS' "Face the Nation" Sunday.

House Speaker Hakeem Jeffries sounded confident that Congress would vote to avert a default on the US’s obligations on Sunday, hours after news broke that the White House had reached a deal with Republican leadership to raise the debt ceiling. The “agreement in principle” was announced Saturday evening after much of the House of Representatives and Senate had left for the Memorial Day weekend. A handful remained in Washington to continue negotiations ahead of the deadline; the US Treasure Department estimates that the federal government’s ability to pay its debts will be in question come 1 June — this Thursday. Mr Jeffries spoke on CBS’s Face the Nation on Sunday. While he cautioned that he had not seen the actual text of the bill, which is reportedly set to cap funding for the US government (except for the military) through 2024, he offered a simple “yes” when asked directly if he could guarantee that the US would avert default. It’s a statement that will likely mean a sigh of relief for those Americans worried about the effects that a credit downgrade would have on the US economy, though that remains a possibility thanks to the toxic partisanship that brought the US to this point in the first place, but also one that may frustrate progressives and other Democrats who may see the development as Democrats giving in to the GOP’s demands. The deal does stave off further debt ceiling negotiations until 2025, but many on the left simply wish to do away with the limit altogether. And there’s already signs that many on the conservative right do not like the deal, with some even calling any legislation that raises the debt limit a non-starter. Their opposition within the GOP’s slim House majority necessitates votes from Democrats to pass this deal or any other. More follows...

By Steven Scheer JERUSALEM Israel's competition watchdog sought more data on Sunday from the country's banks relating to

After several weeks of tense negotiations, President Joe Biden and House Republicans have reached an agreement in principle to raise the debt ceiling and cap spending.

By Shankar Ramakrishnan, Davide Barbuscia, Saeed Azhar and Laura Matthews Good news of a tentative deal for the

The "agreement in principle" clinched by House Republicans and the White House late Saturday to raise the nation's borrowing limit was the culmination of mad-dash negotiations over the course of the past week that regularly stretched late into the night.

President Joe Biden and House Speaker Kevin McCarthy have reached a tentative agreement to avert a catastrophic and unprecedented default on America’s sovereign debt, ending a monthlong standoff that threatened the US and global economies. The White House said Mr Biden and Mr McCarthy spoke by phone for roughly 90 minutes late Saturday. The president also spoke with Democratic congressional leaders as the talks between the White House and the Republicans who control the House of Representatives entered final stages after days of back-and-forth over GOP demands to add work requirements for food assistance and other programs meant to help lower-income Americans. One source familiar with the matter described the president and the House Speaker as having come to an “agreement in principle” that would limit federal spending while raising the nation’s statutory debt limit by an amount large enough to keep the issue off the table through the November 2024 general election. More follows...

The White House and the Republicans are now said to be ironing out details of a bill to avert a default.

White House and House GOP negotiators are racing to finalize a deal to raise the nation's debt limit as early as Saturday with time running perilously short and the risk of a first-ever US default growing.

For weeks, Treasury Secretary Janet Yellen has been consistently telling lawmakers to act soon because the X-date, when the US could default, could occur as soon as June 1. Now, with June 1 days away, everyone is hoping for a reprieve and that the X-date will slip.

Credit rating agencies are once again in the spotlight amid the ongoing high-stakes debt ceiling negotiations in Washington. What are they, and how do they decide the US sovereign debt rating?

Edwin Castro won the jackpot last November - but Jose Rivera claims he is the rightful winner.