• FEATURED:
    LIVE VIDEO: THV 11 This Morning    Watch
     

    CNN Money: Top business headlines for Oct. 3

    11:02 PM, Oct 3, 2013   |    comments
    • Share
    • Print
    • - A A A +

    NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Thursday, October 3.

    Bank CEOs to Obama: This is going to be bad

    More than a dozen Wall Street bank chiefs warned President Obama at the White House that the financial system would suffer if the shutdown and debt limit aren't resolved. "We shouldn't use the threat of causing the U.S. to fail on its obligations to repay its debt as a cudgel," said Lloyd Blankfein of Goldman Sachs (GS, Fortune 500) after the meeting. Congress has been unable to come to a deal to fund the federal government, which shut down Tuesday. Even more pressing to bank chiefs and investors, Congress has until Oct. 17 before the Treasury exceeds its borrowing capacity, which means the U.S. will no longer be able to pay all its bills in full.

    The Republicans' best-funded allies have abandoned them
    On the day Congressional Republicans shut down the federal government to protest the rollout of the Affordable Care Act, the health insurers that once bankrolled GOP opposition to the reform law were doing something very different: watching as their stock prices enjoyed healthy bumps that outpaced an across-the-board market rally. There's a simple explanation. Tuesday also marked the first day of open enrollment in new insurance exchanges under the ACA, and the health plans were signing up loads of new customers. After months of markets pricing in Obamacare's tax and regulatory headaches, here was the windfall. Of course, the one-day performance of a handful of stocks can't be dispositive for a law years in the making, and one that will take many more years before it reaches full steam.

    5 quirkiest government shutdowns
    Since Tuesday, the federal government's shutdown has sent more than 800,000 federal workers home without pay. Essential services are up and running, but things like national parks are closed; back office workers and marine biologists have been sent home as Congress continues its standoff. There's no denying this shutdown is serious; it could cost the economy billions of dollars, depending how long it lasts and when Congress resolves its budget plans. For now, at least, some quirky casualties of the shutdown have emerged: Most of us have heard the beloved panda cam at the National Zoo is down; the closely watched monthly jobs report that was supposed to be released Friday will now be delayed.

    The government shutdown canceled our wedding
    With the government shutdown closing national parks across the country, some unlucky brides and grooms are scrambling to make last-minute wedding plans. Genevieve Jeuck and her fiance Michael Sallemi had planned to get married Wednesday at a resort in the Grand Canyon. But last week, as a possible shutdown loomed closer, they were notified by site officials that they should consider other options. Genevieve Jeuck and her fiance Michael Sallemi had planned to get married Wednesday at a resort in the Grand Canyon. But last week, as a possible shutdown loomed closer, they were notified by site officials that they should consider other options."I got the call Thursday night. I cried. I was freaking out, and then I thought I was turning into a bridezilla," she told CNN Newsroom Tuesday. "I had to make all new plans on Friday. It was just absolutely exhausting, and we're still unsure of what exactly we're doing."

     

     

    Most Watched Videos