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Biden, McCarthy Forge Debt Deal in Bid to Avert US Default

White House and Republican negotiators reached a tentative deal late Saturday to raise the US debt ceiling and avert a default that threatened to send tremors through the global economy.

Mallinckrodt Lenders Pitch Restructuring as Opioid Payment Nears

A group of first-lien lenders to Mallinckrodt Plc has pitched a proposal to the drugmaker that would allow them to bid for the company’s assets through another bankruptcy as a $200 million payment owed under its settlement in the opioid crisis comes due, according to people familiar with the matter.