A key gauge of counterparty risks rose to its highest since the beginning of this year on Tuesday as a potential default in the United States and obstacles to the implementation of a Greek debt deal kept money markets on edge. The United States is edging closer to a devastating default as Republicans and Democrats

Spain and Italy paid a high price to sell short-term debt on Tuesday, compounding investors' concern that last week's bailout package for Greece left the euro zone's debt crisis unresolved. Spain's short-term cost of borrowing hit three-year highs and demand fell at its Treasury bills auction while yields at a sale of six-month Italian paper

Deutsche Bank AG cut its exposure to five peripheral euro zone countries by about 70% to 3.67 bln euros ($5.3 bln) amid concern that Greece's debt crisis could spread. The German flagship lender cut its exposure to Italian sovereign debt to 996 mln euros at the end of June from more than 8 bln six

The outlook on Hungary's banking system remains negative, Moody's Investors Service said in a Banking System Outlook, reflecting its expectation that asset quality will continue to deteriorate; profitability will remain weak; and the operating environment in Hungary remains uncertain. Moody's says that the Hungarian banking system is characterised by high foreign-currency lending — exceeding 70%

 * Dollar hits record low against safe-haven Swiss franc * Gold steady * Asian shares edged higher on Tuesday, rebounding from Monday's fall, but the dollar slid to a record low against the Swiss franc after a speech by U.S. President Barack Obama gave no sign a deadlock in Washington over raising the debt limit

 * One week left before US runs out of money *   The United States edged closer on Tuesday to a devastating default as Republicans and Democrats deadlocked over competing plans to raise the debt ceiling, one week before a deadline to act. President Barack Obama, in a televised address aimed at rallying public support for

Germany's economy minister will meet on Wednesday with around 20 German business groups to discuss how to boost investment in the Greek economy, the ministry said on Monday. Euro zone leaders agreed last week to offer Greece debt relief through a new rescue package of easier loan terms and to launch a "Marshall Plan" to

NASA moved on to a new chapter in space exploration on Friday, a day after the end of its shuttle program, by announcing details of plans to determine if Mars has or ever had the ingredients for life. Managers at the U.S. space agency said a robotic science laboratory, being prepared for a November 25