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House Speaker John Boehner said Republicans want reforms

US House passes plan to extend borrowing

The US House of Representatives has passed a Republican plan to allow the federal government to keep borrowing money until May.

News • 23 Jan 13

Oil jumps as US averts "fiscal cliff"

The price of oil increased by over a dollar today, to above $93 a barrel.

Business • 02 Jan 13

Barack Obama says he has fulfilled his re-election promise to raise taxes on top earners

US Congress resolves 'fiscal cliff' drama

Politicians in the United States have approved a deal preventing huge tax increases and spending cuts that would have pushed its economy off the "fiscal cliff" into recession.

News • 03 Jan 13

The Senate deal came too late for Congress to meet its own deadline of yesterday

Setback in efforts to avoid US 'fiscal cliff'

The Republican leader of the US House of Representatives has said he does not support the Senate-passed "fiscal cliff" bill.

News • 01 Jan 13

Barack Obama said there were still issues to resolve

US set to miss 'fiscal cliff' deadline'

US President Barack Obama has said it appears a deal on the "fiscal cliff" is within sight, however no vote is expected before the midnight EST deadline.

News • 01 Jan 13

US 'fiscal cliff' negotiations stall

Efforts to prevent the US economy from tumbling over a ‘fiscal cliff’ stalled today as Democrats and Republicans remained at loggerheads over a deal that would prevent taxes for all Americans from rising on New Year's Day.

News • 31 Dec 12

US President Barack Obama returned to Washington after cutting short his Christmas holiday in Hawaii.

US House of Representatives to reconvene Sunday

The House of Representatives will return to Washington on Sunday night, just over a day before US income tax rates are set to spike higher, in a last-ditch chance to avert the year-end "fiscal cliff."

News • 28 Dec 12

Doubts over future of John Boehner as House of Representatives speaker

Latest attempt to avert 'US fiscal cliff' fails

The latest attempt to avert the so-called fiscal cliff, which many economists say threatens to send the United States back into recession, has failed.

News • 22 Dec 12

'Fiscal cliff' may cost US 'AAA' rating - Fitch

Fitch has warned that the US was more likely to lose its top-notch "AAA" debt rating if lawmakers cannot agree on how to cut the deficit.

Business • 19 Dec 12

US current account deficit fell in third quarter

The US current account trade deficit narrowed in the July-September quarter to the smallest level since late 2010, but the improvement may not last.

Business • 18 Dec 12

Oil extends rise on US budget deal optimism

Oil extended its rise above $87 a barrel amid optimism US leaders can reach a budget deal and avoid automatic tax and spending cuts that might dampen growth and crimp demand for crude.

Business • 18 Dec 12