The US government faced a steady increase in March budget scarcity, leading to a higher deficit in the first half year period compared to the previous year period.

Pfizer, a US-based drug company, is said to dismiss its merger deal with Allergan. The US drugmaker wants to quit from the $160 billion merger deal since Washington authorities set new rules, making corporate inversions harder.

Socialist democratic China historically backs socialist North Korea in latter’s economic and political missions. North Korea has announced successful testing of hydrogen bomb on Wednesday last. Long time friend China this time joins the US fearing regional destabilization through the neighbor’s dreadful nuke tests.

TransCanada Corp sues US government to reverse President Barack Obama’s decision to reject its Keystone XL pipeline. Canadian firm also seeks $15 billion in damages from the North American Free Trade Agreement.

Outgoing chief executive officer of General Motors Co Dan Akerson has said that US taxpayers actually netted a gain despite the US government losing $10.5 billion stemming from a bailout package it extended to the carmaker in 2009, according to an Associated Press report.

The president of the Federal Reserve Bank of Dallas has called out the US leadership on its continued gridlocks in a speech held in Sydney, Australia.

The new manufacturing commitments for the US that would be announced by Wal-Mart and the US government were part of the retailer's USD50 billion investment pledge to the US economy.

A total of USD13 billion is to be paid out by JPMorgan under the tentative settlement agreement forged with US authorities related to mortgage backed securities.

An impending economic crisis could have happened to Americans should US Congress and the government had not arrived at a debt ceiling agreement.

Global ratings agency Fitch ratings was confident that the US government would be able to fulfill its debt payments even if no agreement would be passed after October 17.