Confrontational Obama Rebukes Republicans On Debt Talks

WASHINGTON — In a blistering rebuke of Republicans, President Barack Obama on Wednesday pressed lawmakers to accept tax increases as part of a deal to cut the nation's deficits and avoid a crippling government default.

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Portugal move eases Europe debt crisis

-- The intensifying European debt crisis appeared to take a step back from the brink on Wednesday when besieged Portugal was able to sell more than €1.2bn in long-term debt at much lower than expected interest rates.

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Spain receives debt warning before EU summit

Ratings agency Moody's warned Spain on Wednesday that its debt could be downgraded and Portugal took steps to revive its economy amid concerns about euro zone debt contagion on the eve of a European Union summit.

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Dubai World gets all lenders on board in debt deal

Dubai World secured full creditor support for its $24.9 billion debt restructuring plan after the last holdout lender unloaded its claim, representatives for the companies said Wednesday.

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IMF urges Japan to begin reducing debt next year

The International Monetary Fund urged Japan on Wednesday to begin efforts to reduce its huge public debt from April 2011, as the country's fiscal situation comes under increasing scrutiny.

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Summary Box: Portugal debt woes hit stock market

AN UNWANTED IMPORT: Major stock indexes fell Wednesday, a day after closing at 2010 highs, after Fitch Ratings lowered its rating on Portugal's debt.

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Oil advances on Europe debt talk

Oil prices rose for a third consecutive session Wednesday amid optimism that a rescue plan for Greece and other debt-challenged European nations may be near.

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EU launches debt action against nine countries

The European Union launched action against nine countries on Wednesday over excessive debt levels which have now engulfed 20 of the bloc's 27 nations.

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MGM says in compliance with debt covenants

Metro-Goldwyn-Mayer said on Wednesday it delivered an audit opinion to its lenders showing the troubled studio is financially sound enough to continue operating and was in compliance with all of its debt covenants.

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Fitch Downgrades Comerica Debt on Credit Costs – DealBook Blog …

Fitch Ratings on Wednesday cut Comerica's investment-grade debt ratings, saying the bank's profitability is increasingly threatened by higher credit costs and the recession.

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