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The Latest Breaking News from the US Treasury

The largest freight bankruptcy in history punched a $5 billion hole in the economy, cost 30,000 jobs, and left the taxpayer holding the bag for a COVID bailout

Would you take a deal to revive Yellow and bring back some of its lost jobs? Or would you scrap it and sell it for parts?

Fortune

Prominent SPAC King Criticizes U.S. For Unsustainable Borrowing Amid Rising Treasury Yields

Chamath Palihapitiya calls out fiscal policies and suggests selling long-dated maturities to match America's future

Zenger

Billionaire investor Stanley Druckenmiller accuses Janet Yellen of making the ‘biggest blunder in Treasury history’

The hedge funder argued that the Treasury Secretary “has no right” to still be in her job.

Fortune

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The Benefits of I Bonds vs EE Bonds to Store Your Savings

All of the information you'll need to choose between Series I and EE savings bonds is right here.

Kiplinger

US imposes sanctions on leaders in Sudan’s RSF over ‘extensive’ abuses

Washington accuses paramilitary group’s deputy commander and top general in West Darfur of human rights violations.

Al Jazeera

US, UK, and Canada sanction Lebanon's former central bank governor over corruption allegations

The United States, United Kingdom, and Canada have slapped sanctions on Lebanon’s embattled ex-central bank governor and a handful of close relatives and associates over allegations of corruption

The Independent UK

Biden’s China investment ban: who’s targeted and what does it mean for the 2024 US election?

New measures from the US Treasury will target several key sectors including semiconductors, quantum computing and artificial intelligence

The Guardian - AU

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Mixed Jobs Report Signals Uncertainty In US Economy

Unemployment rate drops, but job additions fall short of expectations, impacting Fed's interest rate decisions.

Zenger

US Treasury sanctions Bosnian Serb leaders for ‘inflammatory legislation’

The law would allow Republika Srpska, part of Bosnia and Herzegovina, to ignore the country’s Constitutional Court.

Al Jazeera

4 separatist Bosnian Serb leaders are sanctioned by US Treasury for undermining a 1995 peace deal

The U.S. has imposed sanctions on four ranking Bosnian Serb officials for undermining a 1995 peace agreement that ended a war that left more than 100,000 dead and millions homeless

The Independent UK

‘It is like a virus that spreads’: business as usual for Wagner group’s extensive Africa network

Despite Yevgeny Prigozhin’s rebellion against the Kremlin, his military contracts are proving too profitable to lose

The Guardian - UK

Main suspect in Khashoggi killing reappears in public as MBS visits Paris

One of the main suspects in the 2018 assassination of journalist Jamal Khashoggi has emerged from the shadows as Saudi Crown Prince Mohammed bin Salman (MBS) visits Paris in an effort to rebrand his image in the West. Several videos circulating on social media have shown Saoud al-Qahtani, MBS's former…

France 24

US House of Representatives votes ‘yes’ on debt-ceiling deal

Speaker Kevin McCarthy faced opposition in his own party to a deal hammered out with the White House to avoid default.

Al Jazeera

Russian weapons manufacturers hosted at Saudi trade event

Companies with direct links to Russian military set to attend, which is likely to heighten tensions with US

The Guardian - UK

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360info

How the US could easily avoid default

As the US hits its $31 trillion debt ceiling, there's a danger it could default. Yet the solution to avoiding the debt ceiling is surprisingly simple.

ABC News

What is the US debt ceiling? How does it affect the economy? Could Australia be impacted?

The United States is rapidly running out of money to pay its bills unless the Republicans and Democrats can agree on a new deal. Here's how the US got here, and what it means for Australia.

Fortune

The housing market correction would regain new life if the U.S. defaults, says Moody’s chief economist

The U.S. Treasury could run out of cash as soon as early June. That could deliver a big hit to the housing market.

Fortune

JPMorgan CEO Jamie Dimon warns of 'panic' as debt ceiling deadline looms

The U.S. Treasury warns that it might exhaust its ability to borrow money as early as June 1 if Congress does not raise the debt ceiling.

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Al Jazeera

What happens if the US defaults on its debt?

Experts warn of ‘cataclysmic’ scenario if world’s biggest economy fails to meet its debt obligations.

WEKU

Biden and McConnell have a debt limit past. Can they deliver another late-inning save?

McConnell may well wish to wash his hands of this year's blood-letting over the debt limit and all it entails. But he knows it will not be that easy. He may know that better than anyone.

Fortune

High-yield savings account vs. CD vs. T-bill: Where's the best place to put your money?

It's all about getting the highest rate while maintaining access to your funds.

InsideEVs

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

Rivian R1T And R1S Join EVs Now Eligible For Partial US Tax Credit

After the US Treasury put out its US EV tax credit guidelines, which make most EVs ineligible for at least part of the credit, Rivian submitted new paperwork.

The Guardian - UK

UK imposes sanctions on art collector accused of financing Hezbollah

Nazem Ahmad, who has owned works by Picasso and Warhol, suspected of laundering money for militant group

The Guardian - UK

First Thing: Pentagon leaks linked to young gun enthusiast employee – report

Man known online as ‘OG’ said to have access to classified material and to regard intelligence services as repressive. Plus, why America’s most popular flower ‘never goes out of style’

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