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India and Russia sign energy, defense deals worth billions

India and Russia signed billions of dollars of defense and energy deals on Saturday at a summit that sought to inject new life into a relationship that has been tested by shifting global alliances and conflict in the Middle East. Under the biggest agreement, a group led by Russian state oil major Rosneft said it would pay $12.9 billion for a controlling stake in both India's Essar Oil and port facilities that it owns. The countries, …

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India and Russia sign energy, defense deals worth billions

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U.S. fiscal year budget deficit widens to $587 billion

The U.S. budget deficit widened to $587 billion for the fiscal year 2016 on slower-than-expected revenues and higher spending for programs including Social Security and Medicare, the Treasury Department said on Friday. It was the first time the deficit increased in relation to economic output since 2009, according to figures from the Congressional Budget Office. Last fiscal year's deficit was $439 billion

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U.S. fiscal year budget deficit widens to $587 billion

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Fed’s Yellen says ‘high-pressure’ policy may be only way back from crisis

The Federal Reserve may need to run a “high-pressure economy” to reverse damage from the 2008-2009 crisis that depressed output, sidelined workers, and risks becoming a permanent scar, Fed Chair Janet Yellen said on Friday in a broad review of where the recovery may still fall short. Prices on longer dated U.S. Treasuries

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Fed’s Yellen says ‘high-pressure’ policy may be only way back from crisis