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programme. "there will no be default." those were the words of president biden on thursday as he hailed what he called "productive" talks with his political rivals — as the clock ticks on the country's finances. he is trying to avoid hitting the debt ceiling. the us government is set to hit its borrowing limit of $31.4 trillion next week, raising fears it could run out of money to pay its bills without a deal to increase the debt ceiling. from new york, michelle fleury reports. with just one week left until treasury officials say the us will run out of cash to pay its bills, the mo...

>> andy scholes, thank you very much. "new day" continues right now. ♪ good morning, everyone. to our viewers in the united states and around the world it is wednesday july 27th, i'm john berman with brianna keilar. this morning a criminal investigation into the january 6th insurrection is moving closer to former president donald trump. cnn reports key witnesses subpoenaed by the justice department in recent days include two top aides of former vice president mike pence who were asked specifically about the fake electors scheme and the role of trump's lawyers. in addition "the ne...

Cost for gold grows worse if interest rates on cash are rising. against that you have had these financial and political stress is rising. the socio economic distress of the pandemic and coming out of that. really, gold is acting very much as advertised, it is acting as a safe haven, as a hedge against what is happening in otherfinancial hedge against what is happening in other financial assets. thank you very much joining us. adrian ash, director of research at bullionvault. let's get some of the day's other news now. wall street giantjpmorgan chase is cutting jobs at the failed us lender firs...

Paralyzing as you are looking at a week like this. >> these are day by day decisions. i think there is a real fear among consumers and families if things get worse how will that impact me. so that turns to the job market. now, if things do get worse, which is a possibility, it doesn't necessarily meep that people are going to lose their jobs tomorrow or that salaries will be slashed, but it does mean for some people in some occupations there is some vulnerability. at the same time you may actually find some security. if you are perhaps in a profession where you are in demand like an airline pi...