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US default could be ‘catastrophic’: Treasury

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US default could be ‘catastrophic’: Treasury (via AFP)

A US default on its obligations forced by Congress not raising the country’s borrowing ceiling would have catastrophic effects, the Treasury warned Thursday. With the government likely to exhaust its cash reserves around October 17, the Treasury said…



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Chinese Stocks Jump on Promise of “Moderately Loose” Monetary Policy

David Moadel3 hours

The newly-announced measures mark a significant tonal shift in Chinese monetary policy Shares of Alibaba (NYSE:BABA), JD.com (NASDAQ:JD), Baidu (NASDAQ:BIDU), and other Chinese stocks rallied sharply Monday morning after the Chinese government announced stimulus measures to...

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