Yellen: U.S. default would be economic and financial "catastrophe"
CBSN
Political brinkmanship over raising the U.S. debt ceiling risks "serious economic costs" even without the "catastrophe" of a default, Treasury Secretary Janet Yellen warned Thursday at Group of Seven finance talks in Japan.
Hours earlier, former president Donald Trump urged Republican legislators to trigger the first-ever U.S. debt default by refusing to lift the limit if Democrats don't agree to spending cuts.
President Biden has threatened to call off his upcoming trip to Asia, including in-person attendance at next weekend's G-7 summit, if the deepening standoff isn't resolved soon.
Doctors said Monday Pope Francis is no longer in imminent danger of death as a result of pneumonia that has kept him hospitalized for nearly a month, but have decided to keep him hospitalized for several more days to receive treatment.
Johannesburg — President Trump doubled down Friday on his offer to grant U.S. citizenship to White Afrikaner farmers in South Africa, accusing their government of treating them "terribly." Mr. Trump said the U.S. would offer them "safety" and that they would be given a "rapid pathway to citizenship."
A massive volcano in Guatemala is erupting and authorities have evacuated nearly 300 families while warning another 30,000 people in the area they could be at risk.
Seoul, South Korea — North Korea fired several ballistic missiles into the sea on Monday, South Korea's military said, hours after South Korean and U.S. troops kicked off their large annual combined drills, which the North views as an invasion rehearsal.
Toronto — Canada's Liberal Party has chosen veteran central bank leader Mark Carney as its new leader, meaning he will quickly replace Prime Minister Justin Trudeau in the country's top office. The transition, and Trudeau's political downfall, comes amid the chaotic trade war with Canada's closest ally launched by President Trump.
Prince Frederik of Luxembourg has died at the age of 22 from POLG mitochondrial disease, a rare genetic disorder that he was born with, his family announced.
Israel carried out an air strike in northern Gaza on Sunday, rattling an already fragile ceasefire as fresh talks in Doha are set to take place on Monday.
The death toll from two days of clashes between Syrian security forces and loyalists of ousted President Bashar Assad and revenge killings that followed has risen to more than 1,000, a war monitoring group said Saturday, making it one of the deadliest acts of violence since Syria's conflict began 14 years ago.
Panama on Saturday released dozens of migrants who were held for weeks in a remote camp after they were deported from the U.S. They were given 30 days to leave the Central American nation.
International Women's Day protests demand equal rights and an end to discrimination, sexual violence
Women across the world will call for equal pay, reproductive rights, education, justice and decision-making jobs during demonstrations marking International Women's Day on Saturday.
Pope Francis is responding well to treatment and has shown a "gradual, slight improvement" in recent days, the Vatican said Saturday, as he remains in the hospital with double pneumonia.
South Korea's impeached conservative President Yoon Suk Yeol was released from prison on Saturday, a day after a Seoul court canceled his arrest to allow him to stand trial for rebellion without being detained.
At least two people have died and 186 others are missing after four boats carrying migrants from Africa capsized overnight in waters off Yemen and Djibouti, the U.N.'s migration agency said on Friday.