Hours before a key vote in Congress on the American debt crisis, leaders of the country's biggest banks have called on President Obama and lawmakers to reach a deal. They say the consequences of failure could be

grave

. The House of Representatives is due to vote on a Republican Party plan to raise the government's borrowing limit and cut spending. The White House Press Secretary Jay Carney said most Americans understand what's

at stake

.

"If Congress does not

compromise

and does not act, that allowing the United States to default for the first time in its history would have severe economic consequences and would - everyone, every family that owns a home and has a mortgage would be affected. Every American who has a car and a car payment would be affected, a student loan, a credit card. And that's just the beginning, and Congress has a way of waiting until the last minute to do the right thing. We remain confident that it will."

A United States army serviceman has been arrested near Fort Hood military base in Texas after being found with bomb-making materials. Thirteen people were killed by an army psychiatrist at the base two years ago. Officials say the arrested man, Jason Abdo Naser, has admitted planning an attack. He was taken into custody after behaving

suspiciously

in a gun shop. Police say he'd been absent from another army base since early July.

BBC News

The new President of Peru, Ollanta Humala, has been sworn in, promising the poor a greater share of the benefits of economic growth. During the ceremony, he said he would govern as a