Currencies

Markets

Iran president warns of 'war situation' as sanctions resume

Iran greeted the re-imposition of U.S. sanctions on Monday with air defense drills and an acknowledgement from President Hassan Rouhani the nation faces a "war situation," raising Mideast tensions as America's maximalist approach to the Islamic Republic takes hold.

Markets

What's at stake as Italy plays chicken with markets, EU

Italy's government is playing a game of chicken with European authorities and financial markets over plans to spend big — and it's unclear whether the country can avoid a collision that would spread wreckage throughout Europe and the rest of the world.