Euro zone cool to Geithner proposal

US treasury secretary Timothy Geithner drew a cool response from the European Union (EU) policymakers when he urged them to leverage their bailout fund to better tackle the debt crisis and to start speaking with one voice. In a 30-minute m

Geithner to discuss EU bailout fund

US Treasury Secretary Timothy Geithner holds talks with European finance ministers on Friday on the possibility of leveraging the euro zone's bailout fund to help resolve the debt crisis. Washington set up an emergency fund to support US l

Geithner sure US will meet debt obligations

US Treasury Secretary Timothy Geithner said on Sunday it was unthinkable for the United States not to meet its debt obligations and he is confident a debt deal will get done. Speaking on CNN's "State of the Union" program, Geithner said it

Failure not option on US debt deal: Geithner

US Treasury Secretary Timothy Geithner warned on Sunday that failure to raise the debt ceiling by August 2 could mean 'catastrophic damage' to the economy, and an agreement must be reached. 'There has to be a deal, failure is n

US Treasury weighs options to avert default

US dipping into pensions as debt limit hit

US Treasury Secretary Timothy Geithner told Congress he would start tapping into federal pension funds on Monday to free up borrowing capacity as the nation hits the $14.294 trillion legal limit on its debt. The US Treasury will issue $72

G20 boosts emerging countries’ power in IMF

Group of 20 finance leaders struck a landmark deal on Saturday to boost developing countries' power in the International Monetary Fund even as they failed to set targets for a wide-ranging global economic rebalancing. The IMF deal was hail

Gold edges higher as dollar eases

Gold steadied above $1,340 an ounce on Thursday, as waning investor interest was offset by a pull-back in the dollar ahead of a key G20 meeting and after currency remarks from US Treasury Secretary Tim Geithner. Holdings of gold in the wor

Oil falls on Geithner comments, China slowdown

Oil declined as the dollar strengthened on Thursday after US Treasury Secretary Timothy Geithner said there was no deliberate policy to devalue the currency, while China's economy slowed in the third quarter. US crude for December, the

US yuan bill would be against WTO rules: China

Proposed US legislation aimed at punishing China unless it lets the yuan rise would not be in line with World Trade Organisation rules, China's Ministry of Commerce said on Saturday. US Senator Charles Schumer said on Wednesday he and othe