Senate leaders nearing US debt ceiling deal

WASHINGTON, D.C.: With a potential debt default looming, Senate leaders are close to a deal to stave off a self-inflicted political calamity that would shred United States (US) credibility and rock the global economy.

Signs of hope emerged on Monday (Tuesday in Manila), three days before a deadline to raise the US government’s borrowing limit and as a partial federal government shutdown enters its third week.