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The Latest Breaking News from US Treasury

The US government's debt has been downgraded. Here's what to know

Late Tuesday, Fitch Ratings became the second of the three major credit-rating firms to remove its coveted triple-A assessment of the United States government’s credit worthiness, a move that contributed to sharply lower stock prices in Wednesday trading

The Independent UK

‌US Private Sector Adds 324,000 Jobs In July, Surpassing Expectations

ADP report shows 324,000 new jobs added, outperforming economist estimates.

Zenger

US Public Debt Surges To $32.7 Trillion, Raises National Security Concerns

Rising debt threatens economic decline and hampers defense capabilities, urge experts

Zenger

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US-China talks: can Biden mend ties with Beijing?

The US treasury secretary heads to China this week hoping to lay the groundwork for improved communication and relations between the world’s two largest economies.

The Week

US sanctions target Iran's internet censorship amid protests

The United States said on Friday it imposed sanctions on Iranian technology company Arvan Cloud, two employees and an affiliated Emirati firm for helping Tehran censor the internet in Iran as part of the government's attempts to crush domestic protests.

Reuters

3 Ways to Profit From a Government Debt Default

As the debt ceiling deadline approaches, there is growing speculation about the possibility of a U.S. government default. If such an event were to occur, it would have wide-ranging ramifications and could present various trading opportunities. Let's explore the potential consequences and areas where trading opportunities might arise

Barchart

The True Cost of an Extended US Debt-Ceiling Standoff

Recurring struggles over the borrowing limit undermine the status of the US as an economic superpower.

Businessweek

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Yellen heads to G7 with debt ceiling, bank crisis and tax woes in tow

Treasury Secretary Janet Yellen lands at Japan's G7 finance meeting this week, with her ambitious economic agenda hijacked by a bitter partisan fight over the U.S. debt ceiling that threatens a new financial crisis, and a signature tax deal blocked by Republicans.

Reuters

Tesla Model 3 May Get Full US EV Tax Credit Via Loophole

The US Treasury has issued strict guidelines for the EV tax credit related to manufacturing and materials sourcing. However, there are some ways around them.

InsideEVs

Russia's Lavrov blames West for deadlock over future of Black Sea grain deal

Moscow has seen "practically no results" from a pact with the United Nations that aimed to help Russia's grain and fertilizer exports and blamed Western countries for creating a deadlock, Foreign Minister Sergei Lavrov said on Tuesday.

Reuters

Which countries own the most US debt?

As of April 2024, foreign countries own approximately $7.9 trillion in Treasury securities — or 22.9% of total US debt.

USAFacts

‘There is no alternative’ has been the order of the day for investors since 2008. Not anymore, Goldman Sachs says

Investors are going to sell $750 billion worth of stock this year. Welcome to “TARA” world.

Fortune

Hedge Fund Manager Calls For Government Intervention As Elon Musk Open To The Idea Of Buying SVB

Bill Ackman calls on the federal government to step in to solve the failed bank as Elon Musk is open to buying the bank

Zenger

Will Silicon Valley Bank's collapse spark a US recession with ripple effects across the globe?

Based in California and with about $US200 billion in assets, Silicon Valley Bank (SVB) was the 16th-largest in America, making it the biggest bank failure since the global financial crisis of 2008. The implications for financial markets and the global economy are big.

ABC News

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Roll Call

Post-mortems begin on Silicon Valley Bank failure - Roll Call

Biden's comments about SVB added to scrutiny of a 2018 law that eased banking requirements, but it's not clear that's what cause the failure

Asharq Al-Awsat

US Targets ‘Shadow Banking’ Network Helping Iran Evade Sanctions

The United States on Thursday imposed sanctions on 39 entities, including many based in Hong Kong, that Washington said facilitate Iran's access to the global financial system, describing them as a "shadow banking" network that moves billions of dollars. The US Treasury Department in a statement said those targeted had…

Asharq Al-Awsat

US Treasury Imposes New Sanctions on Iranian Companies

The United States imposed new sanctions Thursday on Iran-linked shipping and petrochemical companies, including two shipping firms based in China. The sanctions also target 20 shipping vessels linked to firms in China, Vietnam, and the United Arab Emirates, the Treasury Department's website showed. The sanctions were issued under a 2018…

Irish Mirror

How Daniel Kinahan has delayed Jake Paul v Tommy Fury

Jake Paul and Tommy Fury will finally fight each other in Saudi Arabia this weekend

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Asharq Al-Awsat

Iraq: US Did Not Impose Conditions over Dollar Crisis

Iraq denied claims that the US had imposed conditions on its delegation, which recently visited Washington, regarding the dollar exchange issue. An Iraqi delegation, headed by Foreign Minister Fuad Hussein, had visited Washington and met with Secretary of the State Antony Blinken earlier this month. During a press conference in…

Asharq Al-Awsat

Iraq's Central Bank, US Federal Bank Address Electronic Platform Challenges

Officials from the Central Bank of Iraq, the US Federal Reserve Bank and the US Treasury have met in wake of the drop in the Iraqi dinar's value against the US dollar, creating severe fluctuations in the prices of most commodities and foodstuffs. Economic sources said Washington gave Iraq an…

The Independent UK

Dubai boom sees Russian cash, high rents and reborn projects

For the first time since a 2009 financial crisis nearly brought Dubai to its knees, several major abandoned real estate projects now show signs of life

Reuters

U.S., UK sanction eight Bulgarians over alleged corruption

The United States and Britain on Friday sanctioned eight Bulgarians for alleged corruption, including the country’s wealthiest man and a former minister who allegedly profited illegally from deals involving Bulgaria's only nuclear power plant and Russian energy firms.

The Conversation

Turkey-Syria earthquake: Assad blames west as agencies struggle to get aid to his desperate people

It didn’t take long for Syria’s Assad regime to seek political and economic benefit from the devastation of an earthquake. As emergency services were reaching victims of the 7.8-magnitude tremor on February 6, regime-linked organisations demanded governments “immediately end the siege and unilateral coercive economic sanctions imposed on Syria and…

Asharq Al-Awsat

US Adds 8 New Iranian Officials to its Drone Sanctions List

The United States imposed sanctions on eight Iranian executives' of Paravar Pars Company (Paravar Pars), an Iran-based firm for manufacturing Shahed-series unmanned aerial vehicles (UAVs) for Iran's Islamic Revolutionary Guard Corps Aerospace Force (IRGC ASF). This US measure follows other decisions announced by the US Treasury on November 15, 2022,…

InsideEVs

US Treasury Makes More Tesla, Ford, GM EVs Eligible For Tax Credits

The US Treasury revised its vehicle classification definitions, raising the MSRP limit from $55,000 to $80,000 for several Tesla, Ford, GM and VW EVs.

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