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Bessent sent bank insiders a message about Iran

Bessent sent bank insiders a message about Iran

Treasury just designated one of Russia's largest lenders. The more revealing move came from the secretary's phone.

Bessent defends Trump economic policies, reveals plans to meet Chinese official

Bessent defends Trump economic policies, reveals plans to meet Chinese official

By David Lawder WASHINGTON, Sept 15 (Reuters) - U.S. Treasury Secretary Scott Bessent defended a range of Trump administration economic policies before lawmakers on Tuesday, from currency and bond market interventions to AI safety, disclosing plans to meet with his Chinese counterpart this weekend.

Rep. Huizenga to Lead Hearing on Foreign Malign Influence Operations in U.S.

Rep. Huizenga to Lead Hearing on Foreign Malign Influence Operations in U.S.

Representative Bill Huizenga, R-Mich., who chairs the House Foreign Affairs Subcommittee on South and Central Asia, is set to lead a hearing titled 'Trojan Horses: Covert Foreign Malign Influence Operations in America.' This hearing will investigate how foreign adversaries, including China, Cuba, and Iran, utilize non-profits, activist networks, and other organizations to influence U.S. public opinion and policy. Matthew Johnson, a China expert and senior fellow at the Jamestown Foundation, is scheduled to testify, highlighting Beijing's strategy of working through American institutions to make its messages appear domestically generated rather than foreign propaganda. Johnson noted that China's current priorities include slowing U.S. advancements in artificial intelligence and data-center infrastructure, viewing these as central to strategic competition. The hearing is part of ongoing congressional scrutiny into funding networks, such as those linked to Shanghai-based Marxist tech tycoon Neville Roy Singha...

AI stocks hold a bit steadier on Wall Street as investors looks ahead to Fed decision

AI stocks hold a bit steadier on Wall Street as investors looks ahead to Fed decision

Artificial-intelligence stocks are holding a bit steadier following their worldwide slide the day before, as Wall Street overall makes few big moves in the countdown to a decision coming from the Federal Reserve

Trump Administration's Foreign Mineral and Oil Deals Face Legal Scrutiny and Historical Precedent of Failure

Trump Administration's Foreign Mineral and Oil Deals Face Legal Scrutiny and Historical Precedent of Failure

President Trump's administration has pursued agreements to control critical minerals and oil abroad, notably in Venezuela and Brazil, with the stated goals of securing supplies for the U.S. economy at low prices and potentially denying these resources to China. In Venezuela, an oil deal grants the U.S. access to approximately 20% of proven oil reserves, secured through a government perceived as beholden to President Trump. In Brazil, USA Rare Earth, a company partly owned by the U.S. government and funded by a U.S. government investment vehicle, acquired Serra Verde, a significant producer of critical minerals. This acquisition was made despite attempts by Brazilian President Luiz Inácio Lula da Silva to block it, though Lula has since fast-tracked legislation to establish new rules for critical mineral projects. Both deals involve the Pentagon, utilizing industrial-policy mechanisms like the Industrial Base Analysis and Sustainment (IBAS) program and the Office of Strategic Capital, to take equity-like st...

Wall Street points to more losses as oil, bond yields rise and odds of a Fed rate hike increase

Wall Street points to more losses as oil, bond yields rise and odds of a Fed rate hike increase

Wall Street futures are sliding but are off earlier lows with the opening bell approaching

US Treasury's Bessent says bond yields reflect 'global issues'

US Treasury's Bessent says bond yields reflect 'global issues'

By David Lawder WASHINGTON, Sept 15 (Reuters) - U.S.

U.S. imposes Iran-related sanctions on Russia's VTB

U.S. imposes Iran-related sanctions on Russia's VTB

WASHINGTON, Sept 14 (Reuters) - The United States imposed Iran-related sanctions Monday on Russia's VTB Bank Public Joint Stock Company, accusing it of involvement in Iranian sanctions evasion, the Treasury Department said as Washington seeks to ramp up economic pressure on Tehran.

President Trump Dismisses Chinese Spying Concerns, Citing Reciprocal Intelligence Activities

President Trump Dismisses Chinese Spying Concerns, Citing Reciprocal Intelligence Activities

President Trump on Sunday dismissed concerns regarding a report that Chinese entities provided satellite imagery to Iran before a missile attack that killed three U.S. troops. Speaking aboard Air Force One, President Trump stated that China "spies on us" just as "we spy on them." The Wall Street Journal report, which Reuters could not immediately verify, alleged that Chinese entities supplied high-resolution satellite imagery of Muwaffaq Salti Air Base in Jordan to Iran prior to the July 17 missile attack. When asked if he would raise the issue with Chinese President Xi Jinping during an upcoming meeting, President Trump did not directly answer, instead equating the surveillance activities of both nations. He reiterated his belief that President Xi has "behaved reasonably well" and that the U.S. also behaves "reasonably well."

Trump Responds to AI Panic by Pouring Gasoline on It

Trump Responds to AI Panic by Pouring Gasoline on It

The president claiming his "high IQ" is the only guardrail we need against a potential AI apocalypse isn't exactly reassuring

Bessent is doubling down with weekly bank sanctions

Bessent is doubling down with weekly bank sanctions

The Treasury secretary told everyone to watch Monday. The three weeks before it say more.

Thailand Proposes Strict Stablecoin Transfer Regulations to Combat Financial Crime

Thailand Proposes Strict Stablecoin Transfer Regulations to Combat Financial Crime

Thailand's Securities and Exchange Commission (SEC) has introduced a proposal that would significantly restrict stablecoin transfers through licensed crypto firms. The proposed regulations, currently in the consultation phase, mandate that stablecoins entering or leaving a customer's account at a digital asset operator must originate from or be sent to an account or wallet verified as belonging to that same customer. This 'same-owner' requirement explicitly prohibits stablecoin deposits from another person's account or withdrawals to another person's account when conducted through supervised platforms. The measure also includes a daily transfer cap of 5 million baht per person, per operator, for inbound and outbound transfers, and requires transfer values to align with a customer's income and financial standing. These restrictions are a response to the observed growth in stablecoin transaction volume, particularly involving USDT, and concerns regarding money laundering, cybercrime, and the circumvention of...