US Congress
US House votes to suspend ceiling and avoid default
Joe Biden welcomed the passage of the debt ceiling bill and urged the Democratic-majority ruled Senate to “pass it as quickly as possible”.
- by David Morgan
Latest
Opinion
US politics
Forget the debt ceiling, the entire roof’s collapsing on America
America’s restless struggle against the very concepts of governance and government increasingly threatens the survival of a normal, functional nation state.
- by Peter Hartcher
Opinion
For subscribers
The US will pay a heavy price for its damaging game of chicken
The US appears likely to narrowly escape a financial catastrophe with a debt ceiling deal, but the outcome does not justify the havoc that has been caused.
- by Stephen Bartholomeusz
Updated
World markets
Miners and banks lead ASX lower as global economic worries mount
The Australian sharemarket was dragged down by miners and banks on Thursday as stocks tumbled worldwide on worries about the global economy.
- by Millie Muroi
US signs new security pact with PNG amid competition with China
The defence and maritime surveillance agreement will help improve regional stability and enhance the PNG’s defence force capability.
- by Kirsty Needham and Nick Perry
Opinion
World markets
The deceptive calm on markets as ‘X date’ looms
Investors don’t appear to be too concerned about the US debt crisis, another rate hike, or the threat of a recession. Beneath the surface, however, there’s some movement.
- by Stephen Bartholomeusz
Opinion
Foreign relations
As a reformed canceller of plans, I reckon Biden left it too late
Spare a thought for Prime Minister Anthony Albanese, who probably had to take down his “WELCOME JOE!” bunting from The Lodge.
- by Thomas Mitchell
Updated
World markets
ASX lifts as miners muscle up; Biden boosts Wall Street
Wall Street rallied after President Joe Biden said he was confident the US would not default on its debt. This helped lift the ASX out of a three-day slump.
- by Millie Muroi
Updated
World markets
ASX drops on spectre of another rate rise, low consumer confidence
The Australian sharemarket fell on Tuesday as a fall in consumer confidence and the Reserve Bank’s determination to pin down inflation weighed on investor sentiment.
- by Millie Muroi
Analysis
China relations
If Republicans want to hand China a win, they should ensure Biden doesn’t come to Australia
The US government periodically needs to raise the debt levels it carries by changing legislated limits. Every time this happens, the prospect of a crisis ensues.
- by Chris Zappone
US debt showdown threatens Biden’s plans for Australia visit
The US president says he is still committed to the Quad meeting trip, but that the US debt debate is “the single most important thing that’s on the agenda”.
- by Chris Zappone