[HIGHLIGHTS] Yellen sounds default alarm, 'unprecedented storm'

CEOs warn with an open letter, it would be disastrous. Biden sees McCarthy then at the G7 (ANSA).

Time is not only running out, but it is running out. Without an increase in the debt ceiling, the United States could default on June 1, unleashing an "unprecedented economic and financial storm". Janet Yellen sounds the alarm ahead of the long-awaited meeting between Joe Biden and House Speaker Kevin McCarthy, whose positions on how to raise the debt limit remain - at least on paper - far away.