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Musk's xAI Burns Through $1 Billion A Month As Costs Pile Up
Elon Musk's artificial intelligence startup xAI is burning through $1 billion a month as the cost of building its advanced AI models races ahead of the limited revenues.
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Fitch Downgrades US Credit Rating, White House Says "Defies Reality"
Fitch downgraded the United States' top-notch credit rating by a step on Tuesday, citing a growing federal debt burden and an "erosion of governance" that has manifested in debt limit standoffs.
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"Big Win For Americans": Biden On Debt Deal That Averts First-Ever Default
US President Joe Biden welcomed Thursday's vote by the Senate to raise the national debt limit through 2024 and avert a first ever default as a "big win" for Americans.
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US Averts First-Ever Default As Congress Passes Debt Deal
US senators voted to suspend the federal debt limit on Thursday, eliminating the threat of a disastrous credit default just four days ahead of the deadline set by the Treasury.
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US House Passes Debt Ceiling Deal, Bill Now Moves To Senate
US lawmakers voted to raise the national borrowing limit as a crucial first step to averting a catastrophic default, greenlighting a pact struck between Washington's warring parties after weeks of brinkmanship and fraught backroom deal-making.
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US Treasury Cash Pile Hits Lowest Level Since 2017 As Debt Talks Drag On
While negotiators in Washington struggle to try and hammer out a deal on the statutory debt limit that will be amenable to both sides of politics, the Treasury's cash balance is dwindling rapidly and the amount of accounting gimmicks that it has up i
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"There Will Be No Default": Joe Biden On US Debt Crisis
President Joe Biden declared Thursday the United States would avoid a disastrous credit default even as lawmakers went on a 10-day break without a deal on raising the nation's borrowing limit to keep paying the bills.
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US Debt Ceiling Talks Halted Over ''Serious Differences'' As Default Deadline Inches Closer
The US faces a deadline as soon as June 1 to raise the country's borrowing limit, now at $31 trillion, to keep paying the nation's bills.
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US Congress To Avert Default With Stop-Gap Debt Limit Hike
US lawmakers were set Tuesday to rubber-stamp a short-term bill to lift the nation's borrowing authority, averting the threat of a debt default -- but only for a few weeks.
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US Approves Stop-Gap Deal To Avert Debt Default
The US Senate voted Thursday to stave off a credit default that would have sparked a recession and roiled world markets as Democrats and Republicans agreed to a stop-gap fix to raise the nation's debt limit.
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US Government May Run Out Of Funds By October Unless Debt Limit Raised
The US Treasury is likely to exhaust measures to keep funding the government on October 18, and will run out of cash unless Congress raises the federal borrowing cap, Treasury Secretary Janet Yellen warned Tuesday.
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United Breweries Shares Worth Over Rs 5,800 Crore Sold In Vijay Mallya Case
The debts recovery tribunal (DRT) has sold shares worth over Rs 5,800 crore of United Breweries Limited (UBL) that were earlier attached under the anti-money laundering law as part of an alleged bank fraud probe against fugitive liquor baron Vijay Ma
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Budget Aiming To Revive Economy Despite Limited Fiscal Headroom
The finance minister is likely to announce measures including a hike in infrastructure spending and tax cuts to boost the pandemic-hit economy when she presents the annual budget later on Monday, while deferring debt cut plans.
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Crisis-Hit Yes Bank's Founder Rana Kapoor Arrested For Alleged Fraud
Rana Kapoor, the founder of crisis-hit Yes Bank, has been arrested by the Enforcement Directorate after two days of questioning in an alleged bank scam worth Rs 4,300 crore. He will be in their custody till March 11. The Reserve Bank of India (RBI) has capped transactions for every Yes Bank user at Rs 50,000 for a month, till April 3, after the pri...
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Corporate Bonds Attract Bids Worth $1.4 Billion From Foreign Investors
FPIs bid Rs 9,071 crore for investment limits in corporate debt as against Rs 8,314 crore on offer.
-
Musk's xAI Burns Through $1 Billion A Month As Costs Pile Up
Elon Musk's artificial intelligence startup xAI is burning through $1 billion a month as the cost of building its advanced AI models races ahead of the limited revenues.
-
Fitch Downgrades US Credit Rating, White House Says "Defies Reality"
Fitch downgraded the United States' top-notch credit rating by a step on Tuesday, citing a growing federal debt burden and an "erosion of governance" that has manifested in debt limit standoffs.
-
"Big Win For Americans": Biden On Debt Deal That Averts First-Ever Default
US President Joe Biden welcomed Thursday's vote by the Senate to raise the national debt limit through 2024 and avert a first ever default as a "big win" for Americans.
-
US Averts First-Ever Default As Congress Passes Debt Deal
US senators voted to suspend the federal debt limit on Thursday, eliminating the threat of a disastrous credit default just four days ahead of the deadline set by the Treasury.
-
US House Passes Debt Ceiling Deal, Bill Now Moves To Senate
US lawmakers voted to raise the national borrowing limit as a crucial first step to averting a catastrophic default, greenlighting a pact struck between Washington's warring parties after weeks of brinkmanship and fraught backroom deal-making.
-
US Treasury Cash Pile Hits Lowest Level Since 2017 As Debt Talks Drag On
While negotiators in Washington struggle to try and hammer out a deal on the statutory debt limit that will be amenable to both sides of politics, the Treasury's cash balance is dwindling rapidly and the amount of accounting gimmicks that it has up i
-
"There Will Be No Default": Joe Biden On US Debt Crisis
President Joe Biden declared Thursday the United States would avoid a disastrous credit default even as lawmakers went on a 10-day break without a deal on raising the nation's borrowing limit to keep paying the bills.
-
US Debt Ceiling Talks Halted Over ''Serious Differences'' As Default Deadline Inches Closer
The US faces a deadline as soon as June 1 to raise the country's borrowing limit, now at $31 trillion, to keep paying the nation's bills.
-
US Congress To Avert Default With Stop-Gap Debt Limit Hike
US lawmakers were set Tuesday to rubber-stamp a short-term bill to lift the nation's borrowing authority, averting the threat of a debt default -- but only for a few weeks.
-
US Approves Stop-Gap Deal To Avert Debt Default
The US Senate voted Thursday to stave off a credit default that would have sparked a recession and roiled world markets as Democrats and Republicans agreed to a stop-gap fix to raise the nation's debt limit.
-
US Government May Run Out Of Funds By October Unless Debt Limit Raised
The US Treasury is likely to exhaust measures to keep funding the government on October 18, and will run out of cash unless Congress raises the federal borrowing cap, Treasury Secretary Janet Yellen warned Tuesday.
-
United Breweries Shares Worth Over Rs 5,800 Crore Sold In Vijay Mallya Case
The debts recovery tribunal (DRT) has sold shares worth over Rs 5,800 crore of United Breweries Limited (UBL) that were earlier attached under the anti-money laundering law as part of an alleged bank fraud probe against fugitive liquor baron Vijay Ma
-
Budget Aiming To Revive Economy Despite Limited Fiscal Headroom
The finance minister is likely to announce measures including a hike in infrastructure spending and tax cuts to boost the pandemic-hit economy when she presents the annual budget later on Monday, while deferring debt cut plans.
-
Crisis-Hit Yes Bank's Founder Rana Kapoor Arrested For Alleged Fraud
Rana Kapoor, the founder of crisis-hit Yes Bank, has been arrested by the Enforcement Directorate after two days of questioning in an alleged bank scam worth Rs 4,300 crore. He will be in their custody till March 11. The Reserve Bank of India (RBI) has capped transactions for every Yes Bank user at Rs 50,000 for a month, till April 3, after the pri...
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Corporate Bonds Attract Bids Worth $1.4 Billion From Foreign Investors
FPIs bid Rs 9,071 crore for investment limits in corporate debt as against Rs 8,314 crore on offer.
