Saturday, November 1, 2014   

US lawmakers pass borrowing limit extension
(02-13 10:19)

Lawmakers approved a 13-month extension of US borrowing authority with no strings attached Wednesday, shelving a fractious political debate over the debt ceiling until after November's mid-term elections.
With last-minute help from Republican leaders to overcome a blocking effort, the Senate passed the legislation 55-43.
The measure, which cleared the House of Representatives Tuesday, now goes to the White House for President Barack Obama's signature.
But the bill was nearly torpedoed in a tense procedural vote minutes earlier, when the Senate's Republican leaders struggled to help muster the 60 votes necessary to overcome a blocking tactic known as a filibuster from fiscal conservatives within their ranks.
By the end of an unusually long vote that lasted a full hour, 12 Republicans joined all Democrats to advance the bill. But no Republicans backed its final passage, which required a simple majority in the 100-seat chamber.
US debt stands at US$17.3 trillion, and the Treasury estimates it would exhaust borrowing capacity on February 27 without new authority.—AFP

   
Other Business breaking news:
German retail sales post biggest drop for 7 years (10-31 17:59)
Hang Seng finishes higher (10-31 17:22)
IAG airlines group logs improving Q3 profits (10-31 17:21)
European stocks rally at open (10-31 16:47)
Panasonic says half-year profit dives (10-31 15:53)
Nikkei soars to seven-year high (10-31 15:44)
Japan Airlines H1 net profit slips (10-31 15:43)
Sony says half-year loss balloons six-fold (10-31 15:42)
RBS sets aside 400m pounds for forex probes (10-31 15:41)
BoJ chief says at 'critical moment' for exiting deflation (10-31 15:40)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.