ECONOMY & MARKETS

A U.S. default caused by a failure to raise the debt limit could trigger a worse financial crisis than in 2008, the department said.

Uncertainty in Capitol Hill is causing higher volatility in assets prices; this is a likely buying opportunity.

Further, Richard Bove's conclusion about the effect of a default may actually be rosy, as he himself admits.

Even if the U.S. government shutdown ends Thursday, the jobs report will be delayed, the Labor Department said.

Tesco's latest earnings painted a fresh picture of the food retailer's worldwide woes.

Euro Zone PMI data showed a steady, Germany-led recovery, and retail sales also soundly beat growth expectations.

A protracted slowdown in India and China, and QE nervousness are projected to slow developing Asia’s growth rate to 6 percent in 2013.

The latest data showed service sector growth remained stronger compared to the manufacturing sector.

Following the 90-minute meeting, Rep. Nancy Pelosi said the U.S. must raise the debt ceiling to avoid "cataclysmic" consequences.

The world’s largest gold exchange-traded fund was the least popular such investment fund in the third quarter, according to new data.

With demand on the rise and domestic supply sliding, China is leaning heavily on imports for its food supply.

The government shutdown's impact on fourth-quarter growth depends on three undetermined factors.

After years of allegations of corruption, the Vatican Bank has published an annual report in an attempt to become more transparent.

It's only day two of the government shutdown, but already workers are wondering when their next checks will come.

Peru is trying to legalize thousands of unsanctioned miners, whose activities hurt the environment. It's not going smoothly.

Stocks are expected to open weak as the government shutdown enters its second day, with the 2 parties far apart.

Memo to Athens: Focus on strengthening your economy before you focus on paying selling state-owned assets to pay off creditors.

General Motors, North America’s largest automaker, saw its lowest monthly sales volume so far this year.

The report indicated a double-digit year-over-year rise in housing prices through August, and September should be even better.

Not many is on board with the new tax, and if the government doesn't at least revise it, more Chinese could be moving abroad to evade the tax.

Maybe the reason US government shutdowns are such a non-event is because much of the US government doesn't shut down during shutdowns.

China’s appetite for gold has never been stronger, despite a tough year for the metal so far in 2013.

The company's seasonal employees are eligible for health care benefits, and many are eventually offered permanent jobs.

The prime minister's moves are part of his overall drive to jump-start the nation's long-suffering economy.

Manufacturing activity expanded at a modest rate in the euro zone while unemployment remained unchanged.

China's manufacturing sector expands modestly in September, indicating that measures to prop up domestic demand are yielding results, official PMI data showed.

Agencies are told to execute an "orderly shutdown" as Congress stays in session past midnight.

They've had five years to prepare for the end of quantitative easing. So what will happen to emerging economies when tapering begins?

A government shutdown would leave investors in the dark, at least temporarily, as the closely watched monthly U.S. jobs report would be delayed.