We start in washington where congress has passed a last minute bill to stop the government running out of money but only for two weeks. Now President Trump and the house have until december 22nd to thrash out long term deal on spending. Its all about whats known as the debt ceiling the countrys Borrowing Limit set by congress. Its a huge number around 20 trillion at the moment but apparently not huge enough. The government spends more than it makes in taxes and the treasury is very close to hitting that limit. If its not raised, bills will go unpaid, from medicare to salaries of federal employees like the armed services, to interest on the debt itself. That last ones a big problem as it would also dent confidence in us debt which investors regard as among the safest. When the us inched toward its Borrowing Limit in 2011, Standard Poors cut the countrys triple a rating for the first time. And if all this sounds familiar it should. Since 1960, congress has acted 78 times to raise, extend
Donald trump warns he could sever ties with north koreas trading partners in response to the missile threat. Counting the cost of Hurricane Harvey. The deadly storm has knocked a quarter of the uss Oil Refining Capacity offline. Well ask an expert what this could mean for the Worlds Largest economy. Welcome to World Business report. Im sally bundock. In a minute well take a hands on look at the latest gadgets to be unveiled at europes Biggest Technology fair. But first just hours after pyongyang said it tested a hydrogen bomb, President Trump tweeted the us is considering slapping trade embargos on all countries that do business with north korea. This includes india, russia, pakistan and perhaps most notably, china. The latest figures show trade between the us and china is worth nearly 650 billion every year. This makes china the United States biggest trading partner. Many experts believe that washington is leaning on beijing to isolate north korea. Trade with china is crucial to the f
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