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WASHINGTON: The United States lurched into a new budget crisis on Friday as President Barack Obama and Republicans failed to agree on stopping broad spending cuts that could dampen economic growth and curb military readiness.
WASHINGTON - President Barack Obama reluctantly ordered an $85 billion austerity drive Friday that could slow the US economy and slash jobs, after blaming Republicans for refusing to stop the "dumb" spending cuts.
WASHINGTON: Just hours after across-the-board spending cuts officially took effect, President Barack Obama pressed Congress on Saturday to work with him on a compromise to halt a fiscal crisis he said was starting to "inflict pain" on communities across the United States.
SINGAPORE: Oil prices rose on Tuesday on hopes that U.S.-Chinese talks in Beijing would bring a halt to trade disputes between the world's biggest economies, while OPEC-led supply cuts tightened markets.
Britain's finance minister announced major cuts to the country's future welfare spending on Monday, spelling out the next phase of a push to fix public finances and straining ties within the coalition government.
Microsoft announced its biggest job cuts ever Thursday as new chief executive Satya Nadella called for a new focus at the US tech giant while integrating the Nokia phone division.