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The Latest Breaking News from US Treasury

Elon Musk: Twitter Payments Launching Soon

Twitter's Advertising Business Shrinks, The Social Media Giant Unveils A New Revenue Source

Zenger

Lebanese money exchanger Moukalled denies Hezbollah ties after U.S. sanctions

Lebanese money exchanger Hassan Moukalled on Thursday denied that he or his company CTEX have financial ties to Hezbollah and said he would mount legal challenges to U.S. Treasury sanctions against him.

Reuters

US Sanctions Lebanon Money Exchanger for Alleged Ties to Hezbollah

The US Treasury said on Tuesday it was placing sanctions on Lebanese money exchanger Hassan Moukalled and his business for alleged financial ties to blacklisted group Hezbollah. Its announcement said Moukalled was a financial adviser to Iranian-backed Hezbollah, which is also designated by the United States, and carried out financial…

Asharq Al-Awsat

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G7 agrees to review level of price cap on Russian oil in March -US Treasury

Group of Seven officials have agreed to review the level of the price cap on exports of Russian oil in March, U.S. Treasury Deputy Secretary Wally Adeyemo said on Friday.

Reuters

McCarthy agrees to meet with Biden to discuss debt ceiling

The debt ceiling has nothing to do with authorising new spending despite Republican claims that it does

The Independent UK

Stringent US Moves against Money Flows from Iraq to Iran

The decline in the value of Iraq’s national currency and the rise in the prices of foodstuffs and imported goods can be traced back to remarkable change in the policy adopted by the US Treasury and the Federal Reserve Bank of New York. Both bodies have had a policy shift…

Asharq Al-Awsat

US starts using extraordinary measures to avoid default

The period of time that extraordinary measures may last is subject to ‘considerable uncertainty’ Janet Yellen warned.

Al Jazeera

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Israeli-Turkish Ties Continue Despite Concerns Over Hamas Terrrorism

Turkey remains the main lifeline for the Palestinian terrorist organization where Hamas has operated there and have taken lives.

Zenger

What is LockBit ransomware and how does it operate?

Name of malware and criminal group behind it, LockBit has been blamed for attack on Royal Mail

The Guardian - UK

How Congress cracked down on tax scam

New law shuts down “syndicated conservation easements” that exploit charitable tax break meant to preserve lands

Salon

McCarthy Took $2 Million From FTX Crypto Scam Co-Founder

He hasn't said what he intends to do about the money, while other Republicans have turned FTX funds over to the U.S. Treasury.

Zenger

US Treasury Says Commercial EV Tax Credit Applies To Consumer Leases

More good news comes in the fact that the US Treasury made it clear the commercial tax credit can be used to reduce the prices of an EV lease.

InsideEVs

US EV Tax Credit Battery Guidance Delayed, Which Is Good News

The US Treasury was supposed to have rules in place by the end of 2022 pertaining to battery materials sourcing for the new EV tax credit. It needs more time.

InsideEVs

US Treasury warns Social-Security cuts would ‘decimate’ retirees

A senior U.S. Treasury official warned Tuesday that cuts to Social Security and Medicare would “decimate” the standard of living for American retirees.

Tribune News Service

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Al Jazeera

US announces sanctions against son of Zimbabwean president

The US Treasury Department has accused Emmerson Mnangagwa Jr of ties to sanctioned businessman Kudakwashe Tagwirei.

Reuters

Analysis-G7 Russian oil price cap evolves from revenue squeeze to market anchor

When U.S. officials first floated the idea of capping Russian oil export prices in response to a planned European embargo in March, they pledged to squeeze revenues to Russia's war machine, while avoiding a devastating oil price spike.

Financial Times

Financial instability: the hunt for the next market fracture

Investors are keeping a close eye on areas ranging from US Treasury market illiquidity to Japanese government debt

Fortune

Fed Chair Jerome Powell is on a high-stakes mission to tame inflation. Some insiders fear he’ll go too far. Others fear he won’t go far enough

The Federal Reserve chairman has sworn to fight runaway price increases, but Powell's critics fear he’ll cave in to political pressure before he wins the battle.

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Asharq Al-Awsat

US, Allies to Set Russia Oil Price Cap in 'Next Few Days'

Washington and its allies are planning to finalize a price cap for Russian oil in "the next few days," as they seek to cut off a critical source of funding for Moscow, the US Treasury Department said Tuesday. The price cap would be the basis for a ban set to…

Reuters

U.S., Japan and partners mobilise $20 billion to move Indonesia away from coal

A coalition of countries will mobilise $20 billion of public and private finance to help Indonesia shut coal power plants and bring forward the sector's peak emissions date by seven years to 2030, the United States, Japan and partners said on Tuesday.

StockNews.com

1 ETF It Would Be Smart to Avoid as the Fed Raises Rates

The Fed has raised interest rates six times this year to control persistent inflation. As long-term bonds are more sensitive to rate hikes than their short- and medium-term counterparts, the iShares 20+ Years Treasury Bond ETF (TLT) might be best avoided now. Read on….

Reuters

U.S. Treasury thwarted attack by Russian hacker group last month-official

The U.S. Treasury last month repelled cyber attacks by a pro-Russian hacker group, preventing disruption and confirming the effectiveness of the department's stronger approach to financial system cybersecurity, a U.S. Treasury official said on Tuesday.

Irish Mirror

Tommy Fury says he is still banned from US over brother Tyson's alleged links to Daniel Kinahan

Kinahan has been named as a senior figure in organised crime in the High Court, and in April this year the US Treasury imposed sanctions on him

Bangkok Post

Equities move lower but SET outlook still good

RECAP: Asian and European stocks moved lower yesterday, as US Treasury yields held at the highest level since the global financial crisis of 2008 and investors weighed risks to Chinese markets.

Foreign Affairs

The Dangers of a Strong Dollar

Why countries should diversify their reserve currencies.

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