Explore

Rapid Read Rapid Read
U.S. Treasury Intervenes in Yen Market to Support Japanese Currency

U.S. Treasury Intervenes in Yen Market to Support Japanese Currency

The U.S. Treasury has intervened in the foreign exchange market to support the Japanese yen, marking the first such action in over a decade. This intervention was conducted in collaboration with the Federal Reserve Bank of New York, which sold euros for yen on behalf of the Treasury through financial institutions like Goldman Sachs and Morgan Stanley. The move comes as the yen has been trading near 40-year lows against the dollar. The Treasury had previously alerted banks to be prepared for potential intervention, signaling its readiness to stabilize the yen. This action follows Japan's own efforts to support its currency, which has been under pressure due to speculative trading and economic challenges.
Rapid Read Rapid Read
U.S. Treasury Intervenes to Support Yen Amid Japan's Currency Struggles

U.S. Treasury Intervenes to Support Yen Amid Japan's Currency Struggles

The U.S. Treasury has intervened in the foreign exchange market to support the Japanese yen, marking the first such action in over a decade. This intervention comes as the yen has been trading near 40-year lows against the dollar. The Federal Reserve Bank of New York executed the intervention by selling euros for yen on behalf of the Treasury through financial institutions Goldman Sachs and Morgan Stanley. The exact amount of yen purchased was not disclosed. This move follows Japan's own efforts to stabilize its currency, with reports indicating that Japan may have sold up to $58.97 billion to buy yen. The intervention by the U.S. Treasury was reportedly communicated to several banks, signaling potential future actions to stabilize the yen. The yen saw a notable increase in value following the intervention, with the dollar dropping from about 158.9 yen to approximately 157.6 yen.
TheStreet TheStreet
Middle East turmoil leaves gas prices exposed

Middle East turmoil leaves gas prices exposed

Typically, oil and gasoline prices peak in July or early August. The summer vacation driving season has peaked or is about to peak. Families with children will start to head home to get ready for the new school year. Days are getting shorter. But the rest of 2026 is uncertain. Oil prices were up ...
Reuters Reuters
With Situational Awareness AI deal, Citadel's Griffin rides to the rescue again

With Situational Awareness AI deal, Citadel's Griffin rides to the rescue again

By Svea Herbst-Bayliss, Manya Saini and Anirban Sen July 31 (Reuters) - When rival hedge funds face catastrophic losses, billionaire investor Ken Griffin has a habit of identifying opportunities and showing up with a checkbook.
AP News AP News
Senior FIFA executive says staff were deceived over Infantino's World Cup sell-off plan

Senior FIFA executive says staff were deceived over Infantino's World Cup sell-off plan

Two senior FIFA officials have criticized Gianni Infantino’s World Cup sell-off plan
Rapid Read Rapid Read
President Trump's Beautification Projects in D.C. Face Controversy Over Costs and Execution

President Trump's Beautification Projects in D.C. Face Controversy Over Costs and Execution

President Trump has initiated a series of beautification projects in Washington D.C., including the renovation of equestrian statues near the Lincoln Memorial. The National Park Service awarded a $5.1 million contract for the renovation, which was initially estimated to cost $2.4 million. The project is part of a broader plan to prepare for America's 250th birthday celebrations. The statues, originally commissioned in 1929, have been gilded with 23.75-karat gold leaf. This renovation is one of several high-profile projects, including a $600 million presidential ballroom and a $16.4 million renovation of the Lincoln Memorial Reflecting Pool, both of which have faced criticism for their high costs.
TheStreet TheStreet
Schwab warns of 5 money traps risking savings, investments

Schwab warns of 5 money traps risking savings, investments

Emotion has done more damage to American portfolios this year than the market itself, and a new Charles Schwab guide breaks down the mistakes behind one of the widest investor-market gaps of the past decade. The guide, '5 Common Money Traps and How to Avoid Them,' breaks down five specific ...
Rapid Read Rapid Read
U.S. and China Trade Officials Discuss Commitments Ahead of Trump-Xi Meeting

U.S. and China Trade Officials Discuss Commitments Ahead of Trump-Xi Meeting

U.S. and Chinese trade officials conducted a video call to discuss commitments related to rare earths and agricultural products. U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer emphasized the importance of China fulfilling its promises in these areas. The talks are part of preparations for a meeting between President Trump and President Xi Jinping in September. The discussions also covered the implementation of trade and investment boards to ensure a balanced U.S.-China economic relationship.
Reuters Reuters
US Treasury anti-money laundering chief Gacki to join Citi as global head of sanctions

US Treasury anti-money laundering chief Gacki to join Citi as global head of sanctions

By David Lawder July 30 (Reuters) - The U.S. Treasury on Thursday said the director of its anti-money laundering Financial Crimes Enforcement Network, Andrea Gacki, was stepping down to join Citigroup as the bank's global head of sanctions.
TheStreet TheStreet
Elon Musk aims at Venmo with one bold perk

Elon Musk aims at Venmo with one bold perk

X, the platform formerly known as Twitter, rolled out X Money on July 27 to all US Premium and Premium+ subscribers, bundling a branded Visa debit card, peer-to-peer transfers, and 3% cashback on purchases, the Associated Press reported. The service runs on banking infrastructure from Cross River ...
Trendline Trendline
Trump Administration Plans Major Overhaul of Dulles International Airport

Trump Administration Plans Major Overhaul of Dulles International Airport

Trump Administration Plans Major Overhaul of Dulles International Airport
TheStreet TheStreet
UBS reveals what’s next for Intuitive Surgical stock

UBS reveals what’s next for Intuitive Surgical stock

Intuitive Surgical (ISRG), maker of the da Vinci surgical robot, has been one of the year's most punished large-cap healthcare names, down about 37% even as revenue keeps climbing. Analysts spent months cutting targets. Then one firm broke from the pack and told investors the fear had gone too far. ...