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The Latest Breaking News from Janet Yellen

Wall Street opens in the red amid global market rout after US credit downgrade – as it happened

Global stock markets tumble after Fitch downgrade; US ADP jobs report much stronger than expected

The Guardian - UK

US credit rating downgraded over rising debt, ‘standards of governance’

The downgrade marks only the second cut by a major rating agency in US history.

Al Jazeera

The U.S. loses its top AAA rating from Fitch over worries about the nation's finances

Fitch cut the federal government's top rating, citing rising deficits and a steady deterioration in governance over the last two decades. The action drew a sharp rebuke from the Biden administration.

WEKU

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Fitch downgrades US credit rating, citing mounting debt and political divisions

Fitch Ratings has downgraded the U.S. credit rating, citing an expected increase in government debt over the next three years and a “steady deterioration in standards of governance” over the past two decades

The Independent UK

France's Le Maire presses China on market access and lobbies for electric car investment

The French finance minister says he pressed Chinese leaders to open their markets wider to foreign companies

The Independent UK

Here's how China is responding to US sanctions – with blocking laws and other countermeasures

After a recent meeting between U.S. Treasury Secretary Janet Yellen and officials in Beijing, China released a statement demanding “practical action” over the issue of sanctions. The implication was that the punitive measures – imposed by the U.S. government on hundreds of Chinese individuals and entities over the past few…

The Conversation

Yellen visits Vietnam to build US ties and push supply chain diversity to offset tensions with China

U.S. Treasury Secretary Janet Yellen has told top Vietnamese officials that Washington considers building strong economic and security ties with Vietnam a priority

The Independent UK

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Treasury Secretary Janet Yellen reportedly ate hallucinogenic mushrooms at restaurant during China visit

Mushrooms are delicacy in Yunnan province

The Independent UK

G20 finance ministers meet as UNDP warns of 'human cost of inaction' on debt

US Treasury Secretary Janet Yellen has called on rich countries to speed up debt relief to developing nations ahead of the G20 finance ministers' meeting in India this week. Her call comes as a new report by the United Nations Development Programme (UNDP) shows that the number of countries that…

France 24

In India, G20 finance chiefs set to address global challenges like climate change and rising debt

Finance ministers from the Group of 20 nations meeting in India are set to address critical global economic challenges, including the threat posed by climate change and rising debt among low-income countries

The Independent UK

India, U.S. commit to strengthening ties, look for alternatives to fund energy transition

India and the U.S. committed to strengthening bilateral ties and actively pursue the G20 agenda, as Finance Minister Nirmala Sitharaman and U.S. Treasury Secretary Janet Yellen held bilateral meetings on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting

The Hindu

Russia-Ukraine war: List of key events, day 509

These are the main developments as the Russian invasion of Ukraine enters its 509th day.

Al Jazeera

Yellen eyes China de-escalation, but lifting tariffs ‘premature’

Treasury Secretary Janet Yellen said the U.S. should look for ways to further “de-escalate” tensions with China, though it would be premature to eliminate the tariffs imposed on it by the Trump administration.

Tribune News Service

Why Janet Yellen’s frequent stops in India are important at a time of tensions with China

Yellen is back in Asia for a series of Group of 20 finance minister meetings in India

The Independent UK

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Bangkok Post

US envoy Kerry arrives in China to restart climate talks

BEIJING: US climate envoy John Kerry arrived in China on Sunday, state media reported, to restart stalled talks between the world's two biggest emitters of planet-warming gases.

The Hindu

G20 FMCBG meet at Gandhinagar | India 'indispensable partner' for friend-shoring, says U.S. Treasury Secretary Janet Yellen

United States Secretary of the Treasury Janet Yellen said derisking and friendshoring are important priorities for the U.S. and something that it is promoting in India. Read more on The Hindu

France 24

Russia repels Ukraine drone attack on Crimea, says Kremlin

Russia thwarted a Ukrainian drone attack near Sebastopol, a crucial port in Russian-annexed Crimea, Russia's defence ministry said Sunday morning. Moscow's air defence forces and Black Sea fleet reportedly took out a total of nine drones throughout the assault, which the ministry said caused no damage or casualties. Also, President…

The Independent UK

Yellen is visiting India yet again to promote closer ties and tackle global economic problems

On the heels of a trip to Beijing, U.S. Treasury Secretary Janet Yellen is back in Asia for a series of Group of 20 finance minister meetings in India

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Caixin Global

Weekly Must-Read: China Looks to Saudi Arabia Amid Shifting Sands in U.S. Economic Ties

A recent flurry of political and business exchanges represents Beijing’s highest-level diplomatic engagement with Arab nations since the founding of the People’s Republic of China

Tribune News Service

Xi gets serious about boosting private sector as economy slumps

Chinese President Xi Jinping finally appears to be extending an olive branch to private businesses battered in recent years by regulatory crackdowns and the world’s most restrictive COVID-19 policies.

Fortune

The dollar doesn't have quite the pull it used to, S&P's chief economist says

"The U.S. (dollar) will continue to be a leading world currency, [but] it will no longer be the dominant world currency."

Caixin Global

U.S. Climate Envoy Set to Visit China Next Week

John Kerry’s trip from July 16 to 19 follows high-profile visits by Treasury Secretary Janet Yellen and Secretary of State Antony Blinken

The Independent UK

Kerry to visit Beijing for climate talks amid efforts to revive relations between US and China

U.S. Special Presidential Envoy for Climate John Kerry will travel to Beijing next week to discuss strategies for limiting global warming, amid a push by the world's two largest economies to reengage on multiple issues following a sharp decline in contacts

Zenger

Recession Is Not Completely Off The Table Despite Healthy Economy: Janet Yellen

Interest rate remains high at 4% while President Joe Biden thinks the economy can avoid a recession.

Caixin Global

Editorial: A Shared Understanding of ‘Competition’ and ‘Cooperation’ Will Better Serve China-U.S. Relations

It is crucial for the two countries to mark where both competition and collaboration begin and end to prevent their relationship from spiraling

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