Global Economy

Budget Battles

  • Senator Ben Cardin (D-MD) arrives at Democratic Party caucus meeting on Capitol Hill in Washington, U.S., January 19, 2018. REUTERS/Yuri Gripas/ File Photo

    Factbox: What happens in a U.S. government shutdown?

    By Richard Cowan and Susan Cornwell and Amanda Becker and Richard Cowan and Susan Cornwell and Amanda Becker, Reuters

    In shutdowns, nonessential government employees are furloughed, or placed on temporary unpaid leave. Workers deemed essential, including those dealing with public safety and national security, keep...

  • FILE PHOTO: Senator John Barrasso (R-WY) speaks during a press conference on Capitol Hill in Washington, U.S., September 12, 2017. REUTERS/Joshua Roberts

    No Talk of Ousting Speaker Ryan, Key Conservative Says

    By Reuters

    Many Republicans are unhappy with the deal President Donald Trump reached last week with Democratic leaders to raise the government's debt ceiling and allow it to continue financing federal spending...

  • Venezuela's President Nicolas Maduro waves during a pro-government rally with workers of state-run oil company PDVSA, in Barcelona

    The Crisis in Venezuela Could Send Oil Prices Soaring

    By Nick Cunningham, Oilprice.com

    Venezuela’s deteriorating crisis is “going to be the biggest geopolitical story to watch in the oil markets," according to Helima Croft of RBC Capital Markets. The economic, political and security...

  • FILE PHOTO: Arellano, deputy of the Venezuelan coalition of opposition parties (MUD), clashes with national guards during a rally against Venezuela's President Nicolas Maduro's government in Caracas

    The Risk That Could Drive Oil Prices Higher in a Hurry

    By Nick Cunningham, Oilprice.com

    The latest rally in oil prices ran up against a wall yet again, and the same fears about oversupply have not receded in the slightest. The expectation from most oil analysts is that there is very...

  • Emmanuel Macron, head of the political movement 'En Marche!', or 'Onwards!', and candidate for the 2017 presidential election, delivers a speech as he attends a meeting for Women's day in Paris, France

    France Just Made a Big Move Toward a Green Energy Future

    By Bate Felix and Simon Carraud, Reuters

    France aims to end the sale of gasoline and diesel vehicles by 2040 and become carbon neutral 10 years later, Ecology Minister Nicolas Hulot said on Thursday at a presentation of measures to keep up...

  • Lithuania's Prime Minister Algirdas Butkevicius speaks during floating storage regasification unit (FSRU) "Independence" welcome ceremony in Klaipeda port October 27, 2014. REUTERS/Ints Kalnins

    Ukraine leader, under pressure from West, pledges new government soon

    By Richard Balmforth, Reuters

    KIEV (Reuters) - Ukraine will take the first steps this week towards forming a new government, President Petro Poroshenko said on Monday, seeking to assuage concern among his Western allies that the...

  • FILE PHOTO: Congressman John Conyers (D-MI) speaks at an event celebrating the 50th anniversary of the Voting Rights Act of 1965 in Washington July 30, 2015. Conyers, the oldest and longest serving member of Congress, voted on the 1965 VRA. REUTERS/Gary

    Hagel resigns as defense secretary

    By Phil Stewart and Steve Holland, Reuters

    WASHINGTON (Reuters) - U.S. Defense Secretary Chuck Hagel resigned on Monday, the first major change to President Barack Obama's Cabinet since his Democrats were routed in midterm elections three...

  • FILE PHOTO: Congressman John Conyers (D-MI) speaks at an event celebrating the 50th anniversary of the Voting Rights Act of 1965 in Washington July 30, 2015. Conyers, the oldest and longest serving member of Congress, voted on the 1965 VRA. REUTERS/Gary

    Obama announces Hagel's resignation

    By Phil Stewart and Steve Holland, Reuters

    At a White House event in the State Dining Room, Obama and Vice President Joe Biden gave Hagel a warm sendoff. He said Hagel will stay on until a successor is confirmed by the Senate. He said Hagel...

  • Unidentified jet targets airport in Libya's Tripoli: witnesses

    By Reuters

    Libya is caught up in a conflict between rival political factions, one of which has set up an alternative government after taking over the capital in fighting over the summer. (Writing by Patrick...

  • China’s Central Bank Could Cut Interest Rates Again

    By KEVIN YAO, Reuters

    China's leadership and central bank are ready to cut interest rates again and also loosen lending restrictions, concerned that falling prices could trigger a surge in debt defaults, business failures...