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The Latest Breaking News from the US Treasury

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.

ABC News

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.

Fortune

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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.

Al Jazeera

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.

WEKU

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.

Fortune

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

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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.

InsideEVs

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’

The Guardian - UK

Morning Mail: Leeser says we need the Indigenous voice, crackdown on subscription ‘traps’, the Big Orange re-juiced

The Liberal MP says the party’s plan for symbolic recognition is ‘not enough’, while the ACCC wants to make it easier to cancel online subscriptions

The Guardian - AU

U.S. sanctions Turkey-based entities it says helped Russia's war

The United States on Wednesday imposed sanctions on at least four Turkey-based entities it said violated U.S. export controls and helped Russia's war effort, in the biggest U.S. enforcement action in Turkey since the invasion of Ukraine last year.

Reuters

World Bank staff were told to give special treatment to son of Trump official

Exclusive: Leaked recording raises concerns over governance at development bank, at which David Malpass is now president

The Guardian - UK

Stresses of tax season can be exacerbated by marriage conflict

Jodi Amos still shakes her head recalling the person who tried to cash a six-figure tax refund check without her ex-husband knowing.

Tribune News Service

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InsideEVs

US EV Tax Credit Rules Officially Change April 18, 2023

When the US Treasury's newly official rules kick in on April 18, very few (if any) EVs will qualify for the full credit, and this includes EVs made in the USA.

Asharq Al-Awsat

Southern Syria: Sanctions Alone Cannot Eliminate Captagon Industry

Local leaders in southern Syria underestimated the impact of the sanctions imposed by the United States and Britain on Syrian figures involved in cooperating with the Syrian regime in the Captagon trade. They stressed that combating this phenomenon required a military force and the launching of development projects that would…

Al Jazeera

Myanmar’s military jet fuel supplies hit by latest US sanctions

US Treasury Department sanctioned two people and six entities linked to military regime’s atrocities, air campaigns.

IT Pro

Can regulation shape cryptocurrencies into useful business assets?

One of the more complex corners of the technology industry businesses often refrain from touching is the cryptocurrency market. Built on a principle of a decentralised market, away from the prying eyes of central bodies or governments, and utilising blockchain technology to provide a clear and concise record of all…

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news in one place.

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Al Jazeera

US targets Iranian drone industry in latest round of sanctions

Sanctions target firms and individuals accused of buying drone parts on behalf of the Iranian government.

Asharq Al-Awsat

As Corruption Probes Converge, Support for Lebanon Central Bank Governor Frays

Top-level political backing for Lebanon's central bank governor Riad Salameh is starting to fray, political sources say, as the veteran financier once hailed as a banking wizard faces several corruption investigations in the waning months of his tenure. The apparent cooling of support raises questions over the impact the investigations…

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