A default would have likely triggered market panic, huge job losses and a recession, with global implications.

The three countries hope to activate a mechanism before the end of the year.

President Biden hails bipartisan compromise as a ‘critical step’ to protecting the country’s post-pandemic economic recovery.

Congress to vote on Wednesday.

Kristalina Georgieva warns of risks to international markets in a time of high uncertainty.

Anxiety mounts in Washington ahead of June 1 deadline.

Republican rep Mark Green disputes the administration's accounting.

Stock market could drop 45% in third quarter, say president's advisers.

Initial jitters will give way to more confidence in the financial regulatory system, analysts say.

As hospitalisations plummet by more than 90%, the White House also scales back its free vaccination programme.

US says it negotiated safe passage for hundreds to leave Khartoum overland to Port Sudan.

Manila balancing need to keep Washington close with local sensitivities about increased US troop presence.

Agencies set to step in and offload assets to likely buyers as bank loses US$100 billion in one quarter.

Sheriffs say they found traumatised children alive under bodies of women who protected them.

Commander says a number of procedures are under review to enhance safety.