No need for the candles and tinned food

MICHAEL WEST Don't pencil doomsday into your diary for October 17 just yet.

CPI figures

China inflation rises to 3.1%

China's consumer prices rose more than estimated in September, while a decline in factory-gate prices eased, National Bureau of Statistics data released today in Beijing showed.

Technology

Xero raises $159m in share sale

Cloud-based accounting company Xero has raised $NZ180 million ($159.34 million) selling shares to Matrix Capital Management, Peter Thiel-backed Valar Ventures and other US investors to ensure it can keep bankrolling its expansion.

Standoff

Debt talks continue in Washington

Senate Majority Harry Reid said today that he was engaged in negotiations with Republican Minority Leader Mitch McConnell and was "confident" they could resolve the fiscal crisis confronting Washington. "We're in conversation today," Reid said on the Senate floor.

Trade

China's September surplus down, customs figures show

China's trade surplus has narrowed to $US15.2b in September from $US28.6b in August.

Banking

Chinese banks push lending

CLANCY YEATES Chinese state-owned banks are stepping up their push to lend more to the biggest companies in Australia.

Stocks

Hard-hit Singapore Exchange to implement 'safeguards'

The Singapore Exchange plans to add circuit-breakers by early next year after a plunge in shares.

Washington inches towards debt deal

Lawmakers are expected to work through the weekend with a goal of finishing a deal by early next week.

Banks

Whale debacle pulls JPMorgan into red

US banking giant JPMorgan Chase has reported a rare quarterly loss due to high legal costs, even as its underlying business produced results that bested expectations.

Debt

No quick debt deal but change of tone lifts spirits

President Obama and Republicans failed to end the debt standoff, but the two sides kept talking, and the offer from politically besieged Republicans was seen as an important step.

Stock launch

UK's Royal Mail valued at $5.6 billion

Britain's Royal Mail will be valued at STG3.3 billion ($A5.6 billion) when it launches on the stock market in a controversial part-privatisation.

IMF's Christine Lagarde warns against US default

International Monetary Fund chief Christine Lagarde has warned that a US debt default could damage the global economy, as Washington remained gridlocked in a budget battle.

Why a bit of market panic would help

Jesse Eisinger Investors still expect clearheaded grown-ups to prevail in the US debt standoff. By staying cool, markets are making a crisis more likely.

Fed

Janet Yellen puts focus on jobs

Federal Reserve vice-chair Janet Yellen, President Barack Obama's pick to lead the US central bank, says that strengthening the economic recovery and boosting employment will be priorities.

Tapering

US Fed leans towards reducing stimulus

Federal Reserve policymakers are still leaning towards reducing US monetary stimulus this year, despite a decision to hold fire in September, the minutes of their last meeting show.

Debt

US on road to recession, says economist

The Treasury has the means to avoid a debt default even if Congress fails to raise the government's $US16.7 trillion ($17.7 trillion) borrowing limit. The bad news is that it can't prevent a recession.

US

Barack Obama nominates Janet Yellen as the next Fed chair

US President Barack Obama has announced the nomination of Janet Yellen as the next Fed chair.

US

Yellen's path from Liberal theorist to Fed voice for jobs

When the economists Janet L. Yellen and George A. Akerlof hired a baby sitter for their son in the early 1980s, they decided to pay more than the going wage. They reasoned that a happier baby sitter would provide better care.

Banks

Barack Obama to name Janet Yellen as Fed chief

Janet Yellen is set to become the first female chief of the US central bank, and likely to continue the Fed's ultra-easy monetary policy.

Debt

The road to a US default

Time is running out for the US to raise its debt ceiling. Here's what a possible default might look like.

Manufacturing

Alcoa tops earnings outlook

Aluminum producer Alcoa Inc reported better than expected earnings, as strength at the unit that sells auto parts and other complex items helped offset lower metal prices.

Economy

US creditors fret over debt stand-off

China and Japan are increasingly worried the stand-off over the US debt ceiling could wreak havoc on their trillions of dollars of investments in Treasury bonds.

Debt

No US default? Don't bet on it

Andrew Ross Sorkin Nobody believes the country will actually exceed the debt limit - which is exactly why it might.

Comments 17

Legal

Company under fire for British prison's conditions

A British prison run by security company G4S is failing to provide prisoners basic healthcare and sanitation, and scored below sufficient in all four areas assessed by the independent prisons watchdog.

Investment

Buffett reaps $10.6b from GFC deals

Billionaire investor Warren Buffett is reaping the rewards of the lifelines he threw a group of blue-chip companies.

Debt

Starbucks founder urges CEOs to push for end to shutdown

Howard Schultz, Starbucks Corp's outspoken CEO, has urged fellow business leaders to ratchet up the pressure on US political leaders.

Economy

China's economy on 'smooth' slowdown: Xi

China's economy is on a smooth and controlled slowdown, President Xi Jinping says, emphasising there was no reason to fear a hard landing.