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Scott Bessent, Donald Trump's US Treasury Pick, Fuels Global Relief Rally Vs Dollar
The selection of Scott Bessent as the next Treasury Secretary has fueled a rally in currencies around the world against the dollar, as traders trim bets that the return of Donald Trump will send tremors throughout global markets.
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Lutnick’s Cantor in Talks With Tether About $2 Billion Bitcoin Lending Project
Tether currently uses Cantor’s custody business to hold the billions of dollars of US Treasuries that support the value of its dominant USDT stablecoin. That custody relationship earns Cantor tens of millions of dollars a year, according to people familiar with the matter.
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Budget, Debt: Donald Trump's Treasury Chief Faces Urgent Challenges
One pressing concern for Scott Bessent will be "how to navigate a desire for more protectionism while avoiding a global trade war," EY chief economist Gregory Daco said.
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Trump Names Billionaire Hedge Fund Manager Scott Bessent As Treasury Chief
US President-elect Donald Trump on Friday named billionaire Scott Bessent as his Treasury secretary, choosing the hedge fund manager to help execute an agenda promising tax cuts and tariffs.
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US Set To Announce "Strong New Sanctions" Aimed At Russia: Treasury Secretary
The United States is set to announce "strong new sanctions" as early as next week, with targets including parties in countries that support Russia's military, Treasury Secretary Janet Yellen said Tuesday.
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US Expands Sanctions Against Iran In Response To Missile Attack On Israel
The United States on Friday expanded sanctions against Iran's petroleum and petrochemical sectors in response to Iran's missile attack on Israel, the Treasury Department said.
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US Treasure Secretary Says Ties With China "Closer" Despite Tariffs
US Treasury Secretary Janet Yellen said in an interview Thursday that Washington's economic ties with Beijing are closer now despite recent tariff hikes, with both sides cooperating in areas like financial stability.
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US Sanctions Chinese Individuals Over COVID-Related Fraud, Bomb Threats
The US Treasury on Tuesday sanctioned three Chinese individuals and three Thai companies for involvement in a cybercrime network that it said made bomb threats and fraudulent applications for COVID-related aid, costing government billions of dollars.
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China Slams US' "Fear-Mongering" After Criticism Over Excess Manufacturing
U.S. Treasury Secretary Janet Yellen comments on China's excess manufacturing capacity seek to rehash "China threat" rhetoric and appear to create a pretext for more protectionist policies from the U.S., Chinese state media said.
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US Urges India To Maintain Implementation Of Russian Oil Price Cap
Two senior US treasury officials are in India to urge New Delhi to maintain the implementation of the oil price cap aimed at limiting profits to Russia, while also promoting stable global energy markets.
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US Flags "Significant" Data Gap As Bank Deploy AI In Fraud Prevention
The US financial sector faces a "significant" data gap between big and small banks as they deploy AI to fight fraud, the Treasury Department said Wednesday, noting that smaller institutions are disadvantaged.
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US Sanctions Network Facilitating Illegal Tech Transfer To Iran's Central Bank
The US Treasury Department unveiled sanctions against a network of companies and individuals Friday for facilitating illegal technology transfers from dozens of US firms to Iranian entities, including the country's central bank.
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Iraq Bans 8 Local Banks From US Dollar Transactions
Iraq has banned eight local commercial banks from engaging in U.S. dollar transactions, taking action to reduce fraud, money laundering and other illegal uses of U.S. currency days after a visit by a top U.S. Treasury official.
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Ransomware Attack On US Arm Of China's Largest Bank Disrupts Treasury Market
The US arm of China's largest bank said Thursday that it was hit by a ransomware attack, forcing clients to reroute trades and disrupting the US Treasury market.
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Gang Behind Cyberattack On World's Biggest Bank Has Hacked 1,000 Victims
Industrial & Commercial Bank of China Ltd.'s US unit had been hit by a cyberattack, rendering it unable to clear swathes of US Treasury trades after entities responsible for settling the transactions swiftly disconnected from the stricken systems.
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Scott Bessent, Donald Trump's US Treasury Pick, Fuels Global Relief Rally Vs Dollar
The selection of Scott Bessent as the next Treasury Secretary has fueled a rally in currencies around the world against the dollar, as traders trim bets that the return of Donald Trump will send tremors throughout global markets.
-
Lutnick’s Cantor in Talks With Tether About $2 Billion Bitcoin Lending Project
Tether currently uses Cantor’s custody business to hold the billions of dollars of US Treasuries that support the value of its dominant USDT stablecoin. That custody relationship earns Cantor tens of millions of dollars a year, according to people familiar with the matter.
-
Budget, Debt: Donald Trump's Treasury Chief Faces Urgent Challenges
One pressing concern for Scott Bessent will be "how to navigate a desire for more protectionism while avoiding a global trade war," EY chief economist Gregory Daco said.
-
Trump Names Billionaire Hedge Fund Manager Scott Bessent As Treasury Chief
US President-elect Donald Trump on Friday named billionaire Scott Bessent as his Treasury secretary, choosing the hedge fund manager to help execute an agenda promising tax cuts and tariffs.
-
US Set To Announce "Strong New Sanctions" Aimed At Russia: Treasury Secretary
The United States is set to announce "strong new sanctions" as early as next week, with targets including parties in countries that support Russia's military, Treasury Secretary Janet Yellen said Tuesday.
-
US Expands Sanctions Against Iran In Response To Missile Attack On Israel
The United States on Friday expanded sanctions against Iran's petroleum and petrochemical sectors in response to Iran's missile attack on Israel, the Treasury Department said.
-
US Treasure Secretary Says Ties With China "Closer" Despite Tariffs
US Treasury Secretary Janet Yellen said in an interview Thursday that Washington's economic ties with Beijing are closer now despite recent tariff hikes, with both sides cooperating in areas like financial stability.
-
US Sanctions Chinese Individuals Over COVID-Related Fraud, Bomb Threats
The US Treasury on Tuesday sanctioned three Chinese individuals and three Thai companies for involvement in a cybercrime network that it said made bomb threats and fraudulent applications for COVID-related aid, costing government billions of dollars.
-
China Slams US' "Fear-Mongering" After Criticism Over Excess Manufacturing
U.S. Treasury Secretary Janet Yellen comments on China's excess manufacturing capacity seek to rehash "China threat" rhetoric and appear to create a pretext for more protectionist policies from the U.S., Chinese state media said.
-
US Urges India To Maintain Implementation Of Russian Oil Price Cap
Two senior US treasury officials are in India to urge New Delhi to maintain the implementation of the oil price cap aimed at limiting profits to Russia, while also promoting stable global energy markets.
-
US Flags "Significant" Data Gap As Bank Deploy AI In Fraud Prevention
The US financial sector faces a "significant" data gap between big and small banks as they deploy AI to fight fraud, the Treasury Department said Wednesday, noting that smaller institutions are disadvantaged.
-
US Sanctions Network Facilitating Illegal Tech Transfer To Iran's Central Bank
The US Treasury Department unveiled sanctions against a network of companies and individuals Friday for facilitating illegal technology transfers from dozens of US firms to Iranian entities, including the country's central bank.
-
Iraq Bans 8 Local Banks From US Dollar Transactions
Iraq has banned eight local commercial banks from engaging in U.S. dollar transactions, taking action to reduce fraud, money laundering and other illegal uses of U.S. currency days after a visit by a top U.S. Treasury official.
-
Ransomware Attack On US Arm Of China's Largest Bank Disrupts Treasury Market
The US arm of China's largest bank said Thursday that it was hit by a ransomware attack, forcing clients to reroute trades and disrupting the US Treasury market.
-
Gang Behind Cyberattack On World's Biggest Bank Has Hacked 1,000 Victims
Industrial & Commercial Bank of China Ltd.'s US unit had been hit by a cyberattack, rendering it unable to clear swathes of US Treasury trades after entities responsible for settling the transactions swiftly disconnected from the stricken systems.
