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US President Barack Obama has warned that Wall Street should be concerned that a conservative faction of Republicans is willing to allow the country to default on its debt. The US government has partially closed after Congress failed to agree a budget and will run out of cash on 17 October unless its debt ceiling is raised.
The partial shutdown of the US government showed no signs of ending quickly, as lawmakers stiffened their positions and sought to shift blame to the other side.
The United States space agency Nasa is planning to launch a 3D printer into space next year to help astronauts manufacture spare parts and tools in zero gravity. It will be the first time a 3D printer has been used in space and could help reduce the costs of future missions.
Shares in New York closed lower on Monday as the prospect of a shutdown of some US government activities looks increasingly likely. The Dow Jones closed down 128 points, or 0.84%, while the S&P 500 and Nasdaq fell by 0.60% and 0.27% respectively. However, all three indexes were up for the month, buoyed by a strengthening US economic recovery.
Uruguay “does not need money; we need talent, students that complete their formation in the US and return to Uruguay to share and invest their knowledge” president Jose Mujica told US Vice-president Jose Biden during an hour long meeting on the sidelines of the UN General Assembly in New York.
Uruguay’s voice is much respected in international affairs and this can be attributed to the country’s foreign policy, although ‘it’s not only a merit of this administration but a long term achievement’, said President Jose Mujica on Thursday in a brief exchange with the media delegation covering events in New York.
US lawmakers have narrowly voted to cut food stamp benefits from next year despite a veto threat from the White House and opposition from lobby groups. The Republican-led House of Representatives passed the bill by 217-200. But it has little chance in the Democratic-held Senate.
The US Federal Reserve could still scale back its massive bond buying program at an October meeting should data point to a stronger economy, St. Louis Fed President James Bullard said on Friday. October is a live meeting he told Bloomberg television.
United States corn exporters are concerned with the fact that Venezuela, one of their prime markets, is now a full member of Mercosur, which includes Brazil and Argentina two major exporting countries.
The International Monetary Fund urged US policymakers to support major reforms at the global lender and bury political differences over the budget to ease one source of risk to the economy and markets.