The United States of America had moved closer to reaching a first ever default on the nation's debt after House Speaker John Boehner ruled out a straightforward bill to increase the country's borrowing limits without approval from the US President, said The Economic Times report.
North America
UTC reverses potential employee furloughs
The government's sixth largest contractor, United Technologies Corp, cancelled plans to furlough around 4,000 employees.
Apollo, Cooper shows new wrinkle in deal, disagree over price
Apollo Tyres Ltd and Cooper Tire & Rubber Co could not seem to agree on the initial price of its buyout deal.
Halted EU-US talks complicate trade ties
With the US government's partial shutdown, talks between US and EU regarding the creation of the biggest free trade zone in the world scheduled next week in Brussels had been scrapped, said a Reuters report.
FDA sets standards for good manufacturing compliance for Ben Venue
Ben Venue was required by court to comply with good manufacturing standards set. The local unit of German pharmaceutical firm Boehringer Ingelheim, Ben Venue Laboratories Inc.
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HSBC Holdings had lost its bid to undo a 2009 securities fraud trial verdict, according to a Reuters report.
JC Penney named Jan Hodges as the new head of its struggling home goods section JC Penney Co Inc. had named an insider to be the new head of its struggling home goods section.
KKR & Co LP would soon reach a deal to acquire Crosby Group LLC in a transaction valued USD1 billion, said two sources familiar with the matter.
The Transatlantic Trade and Investment Partnership had faced gale winds and now stands to undergo rough seas.
Bay Investment Group LLC, the venture firm of Hayah Holdings and Colony Capital, will head the master development in the city of Oakland.
According to the latest US Energy Information Administration report, the US would pass production levels of Russia and Saudi Arabia for oil and natural gas.
Facebook, after its dismal opening at IPO and subsequent decline, is affecting the overall enthusiasm in Twitter.
As the budget deadlock continues, the stock market's fear index is rising and many investors are preparing for future stock volatility.
Obama, in an interview with the Associated Press, said he expects Congress to reopen government and increase debt ceiling before the October 17 deadline.
