Latest Sovereign debt News

New Greek PM calls bond auction "vote of confidence"

Jul. 16, 2019 2:46 PM EDT

ATHENS, Greece (AP) — Greece launched a 7-year bond auction Tuesday, the country's third effort this year to raise money from international markets while improved borrowing rates provide an advantage. The auction aimed at raising 2.5 billion euros ($2.8 billion) followed 5-year and 10-year bond issues...

Business Highlights

Jul. 12, 2019 5:01 PM EDT

___ Report: FTC approves roughly $5B fine for Facebook SAN FRANCISCO (AP) — A Wall Street Journal report says that the FTC has voted this week to approve a fine of about $5 billion for Facebook over privacy violations. The report Friday cites an unnamed person familiar with the matter. Facebook and the FTC...

Mnuchin urges Congress to quickly pass new debt limit

Jul. 12, 2019 2:38 PM EDT

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin told congressional leaders that the debt ceiling should be raised before lawmakers leave for their August recess to avert the potential of an unprecedented default on the national debt. In a letter to House and Senate leaders Friday, Mnuchin said that...

US budget deficit jumps 23% through June

Jul. 11, 2019 2:52 PM EDT

WASHINGTON (AP) — The U.S. budget deficit increased by $140 billion during the first nine months of this budget year to $747.1 billion as government revenues and spending both hit records. The Treasury Department reported Thursday that the deficit for the current fiscal year through June is up 23.1% over...

H. Ross Perot rose from poverty to self-made billionaire

Jul. 9, 2019 5:51 PM EDT

DALLAS (AP) — H. Ross Perot rose from a childhood of Depression-era poverty to become a self-made billionaire who twice ran for president with a mixture of folksy sayings and simple solutions to America's problems. His 19% of the vote in 1992 stands among the best showings by an independent candidate in...

Greece creditors say no changes in bailout terms for new PM

Jul. 8, 2019 5:17 PM EDT

ATHENS, Greece (AP) — Greece's bailout creditors on Monday bluntly rejected calls from the country's new conservative government to ease draconian budget conditions agreed as part of its rescue program. Conservative party leader Kyriakos Mitsotakis was sworn in as Greece's new prime minister Monday, a day...

White House offers budget freeze if Dems don't agree to deal

Jun. 19, 2019 8:38 PM EDT

WASHINGTON (AP) — Trump administration bargainers offered a one-year budget freeze and said Democratic spending demands remained too high as talks with congressional leaders aimed at averting deep cuts in defense and domestic programs seemed no closer to resolution Wednesday. After White House Chief of...

May budget deficit hits record $207.8 billion

Jun. 12, 2019 2:28 PM EDT

WASHINGTON (AP) — The federal government's budget deficit in May rose to a record $207.8 billion, 41.5% higher than a year ago. Most of that increase reflected the impact of calendar quirks that shifted $55 billion in June benefit payments into May. The Treasury Department said Wednesday that the increase...

Catfish, rice, Navy ships: Cochran spending leaves legacy

Jun. 1, 2019 11:22 AM EDT

JACKSON, Miss. (AP) — Former U.S. Sen. Thad Cochran was a master of the federal budget process, quietly shrugging off criticism about pork-barrel spending while directing billions of dollars back to his home state of Mississippi. Cochran died Thursday at age 81. He was the 10th longest-serving senator in...

Lebanese Cabinet agrees on 2019 austerity budget

May. 24, 2019 1:15 PM EDT

BEIRUT (AP) — Lebanese Cabinet ministers wrapped up weeks of haggling, agreeing on a 2019 draft budget that aims to avert a financial crisis by cutting public spending and reduce a ballooning deficit. Critics say the proposed measures fail to introduce structural reforms needed to rescue the flagging...