Obama, Boehner, Hill Leaders Nearing Debt Deal

President Barack Obama, D-Ill. and Speaker John Boehner, R-Ohio moved closer toward a landmark debt deal late Thursday -- one that would avoid a U.S. default and implement major tax code changes, if approved. However, aides to both were lowering expectations, given the importance of the talks, so as to not jeopardize delicate negotiations within each caucus.

Chancellor of Germany Angela Merkel and Greek Prime Minister George Papandreou

Fitch declares default, Greece pledges no let-up on debt

Fitch ratings agency declared Greece would be in temporary default as the result of a second bailout, which Athens said had bought it breathing space.

recent photograph of an interior of the Hamill Manufacturing Company in Pittsburgh, Pennsylvania

U.S. Regional Factories Resume Growth

Factory activity in the Mid-Atlantic region rebounded in July, but stubbornly high new filings for jobless benefits suggested an expected pick-up in economic growth in the second half of 2011 would be modest.

An employee sits outside a flour mill in the Ralegan Siddhi village, located in the Ahmednagar district about 250km (155 miles) south east of Mumbai June 17, 2011. REUTERS/Danish Siddiqui

Struggling Indian economy hardens case to end policy

India is nearing the end of its credit tightening cycle, as 10 interest rate increases since March 2010 exact a toll on growth in a once-roaring economy, making Tuesday's expected rate rise potentially the last for the near future.

Shanghai port traffic returns as strike dwindles

Global slowdown signs strengthen, debt crisis weighs

Growth ground to a halt in the euro zone's private sector this month while China's factory sector contracted for the first time in a year, surveys showed on Thursday, deepening evidence of a sharp slowdown in the global economy.

IMF: China's trade partners worried about hard landing

IMF: China's trade partners worried about hard landing

China's big trading partners worry that its rapid economic growth cannot be sustained and it could suffer a "hard landing" that spreads damage around the world, according to an IMF report released on Thursday.

Student Brian Goode looks at pictures of green jobs on a wall at the Youth Opportunity (YO!) Academy and the Westside Youth Opportunity Community Center in Baltimore

Jobless claims rise above expectations

New claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, pointing to a labor market that is struggling to regain momentum after job growth faltered in the last two months.

North Korean leader Kim Jong-il

Two Koreas likely to meet to discuss nuclear issue: report

The nuclear envoys of South and North Korea are expected to meet on the sidelines of an Asian forum in Bali on Friday in the first high level contact since tensions spiked on the Korean peninsula last year, a news report said.

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