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WEATHER ALERT

A heat advisory and a special weather statement in effect for 21 regions in the area

JANET YELLEN


1 day ago

United States and China launch economic and financial working groups with aim of easing tensions

The U.S. Treasury Department and Chinaโ€™s Ministry of Finance have launched a pair of economic working groups in an effort to ease tensions and deepen ties between the nations.

Prince William, billionaires Gates and Bloomberg say innovation provides climate hope

Britainโ€™s Prince William and wealthy entrepreneurs Bill Gates and Michael Bloomberg promise hope to a warming world.

Yellen details tighter scrutiny of investment plans of foreign-owned companies operating in the US

The Biden administration plans to increase scrutiny of the investment plans of foreign-owned companies operating in the United States.

War sanctions against Russia highlight growing divisions among the Group of 20 countries

Treasury Secretary Janet Yellen is facing growing skepticism from some leading rich and developing nations as the residual impact of sanctions against Russia is deepening divisions among the Group of 20 countries.

Top Chinese official tells the US commerce secretary he's ready to improve cooperation

The top Chinese official in charge of economic relations with Washington has told Commerce Secretary Gina Raimondo he's ready to โ€œmake new positive effortsโ€ to improve cooperation following an agreement to reduce trade tension.

US, China agree to discuss export controls as commerce secretary visits to warm up chilly ties

Commerce Secretary Gina Raimondo says she and her Chinese counterpart agreed to exchange information on U.S. export controls that irk Beijing and set up a group to discuss other commercial issues.

Biden's commerce secretary is the latest Cabinet member to visit China in a bid for improved ties

Commerce Secretary Gina Raimondo is the latest member of President Joe Bidenโ€™s Cabinet to visit China as his administration tries to mend the deteriorating ties between the worldโ€™s two largest economies.

The US government's debt has been downgraded. Here's what to know

Late Tuesday, Fitch Ratings became the second of the three major credit-rating firms to remove its coveted triple-A assessment of the United States governmentโ€™s credit worthiness.

IRS aims to go paperless by 2025 as part of its campaign to conquer mountains of paperwork

Most taxpayers will be able to digitally submit a slew of tax documents and other communications to the IRS next filing season and the agency plans to go completely paperless in 2025.

Stock market today: Asia follows Wall St lower after the US government's credit rating was cut

Asian stock markets have followed Wall Street lower after Fitch Ratings cut the United States governmentโ€™s credit rating.

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.

Yellen visits Vietnam, seeking to build US ties and supply chains, and 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.

G20 finance chiefs meeting in India 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.

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.

China accuses US of militarizing space following protest over Navy plane's Taiwan Strait transit

China is accusing the United States of militarizing outer space, a day after it protested the passage of a Navy P-8A Poseidon anti-submarine aircraft through the Taiwan Strait.

IRS says it collected $38 million from more than 175 high-income tax delinquents

The IRS is showcasing its new capability to audit high-income tax dodgers aggressively as it makes the case for sustained funding and tries to avoid budget cuts sought by Republicans who want to gut the agency.

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.

Stock market today: Asian shares rise ahead of a US inflation update on hopes for easing rate hikes

Asian stock markets followed Wall Street higher Tuesday ahead of an update on U.S. consumer prices that traders hope will show inflation is easing, reducing the need for more interest rate hikes.

Yellen says Washington might 'respond to unintended consequences' for China due to tech export curbs

Treasury Secretary Janet Yellen says Washington will listen to Chinese complaints about security-related curbs on U.S. technology exports and might โ€œrespond to unintended consequencesโ€ as she ended a visit to Beijing aimed at reviving strained relations.

US Treasury chief Yellen appeals to China for cooperation on climate and other global challenges

Treasury Secretary Janet Yellen has appealed to China not to let disagreements about trade and other irritants disrupt cooperation on climate change and other global challenges.

Keeping up pressure, China sends warships and fighter jets near Taiwan during Yellen's Beijing visit

Taiwan's Defense Ministry says China has sent 13 aircraft and 6 vessels to airspace and waters around Taiwan as of early Saturday.

US Treasury chief Yellen and China's No. 2 aim for improved communication after trade disputes

U.S. Treasury Secretary Janet Yellen and Chinese Premier Li Qiang are expressing hopes for better communication as Yellen appeals to Beijing not to let frustration over U.S. curbs on technology exports disrupt economic cooperation.

Yellen's visit to Beijing aims to heal rifts over a daunting array of China-US antagonisms

Treasury Secretary Janet Yellen is visiting Beijing as part of efforts to revive U.S.-Chinese relations that are at their lowest level in decades due to disputes over technology, security and other irritants.

Stock market today: Wall Street drifts after jobs report comes in warm but hopefully not too hot

Wall Street drifted to a mixed close after data suggested the U.S. job market is still warm enough to keep the economy growing but maybe not so hot that it stokes inflation much higher.

US Treasury Secretary Janet Yellen visits China as part of efforts to soothe strained relations

Treasury Secretary Janet Yellen plans to tell Chinese officials that Washington wants healthy economic competition but will defend trade curbs imposed by the U.S. on security grounds.

Stock market today: Asian shares fall as strong US data dash hopes for an end to rate hikes

Asian shares have slipped after another decline on Wall Street, where hopes for an end to interest rate hikes have been dashed by strong economic data.

Stock market today: Asia sinks after survey shows China activity weakening

Asian stock markets are lower after a survey showed Chinese industrial activity weakening.

China restricts exports of high-tech metals in a slap at Washington ahead of Yellen's visit

China has imposed export curbs on two metals used in computer chips and solar cells, expanding a squabble with Washington over high-tech trade ahead of Treasury Secretary Janet Yellenโ€™s visit to Beijing this week.

Treasury Secretary Janet Yellen is making a long-awaited trip to China this week

Treasury Secretary Janet Yellen will travel to Beijing Thursday in an effort to thaw U.S.-China relations, a Treasury official said.

Debt-plagued Zambia reaches deal with China, other nations to rework $6.3B in loans, French say

The French government says that Zambia has reached a deal with China and several other government creditors to restructure $6.3 billion in loans.

Biden defends calling Chinese leader Xi a 'dictator' and says he still expects to meet with him

President Joe Biden is defending his harsh public comments on China, including calling President Xi Jinping a dictator.

Paris summit aims to shake up the financial system. It will test leaders' resolve on climate

Heads of state, finance leaders and activists are converging in Paris to seek ways to overhaul the International Monetary Fund and World Bank and help them weather a warmer and stormier world.

SEC lawsuits against cryptocurrency companies raise questions about industry's future

Two recent lawsuits filed by the U.S. Securities and Exchange Commission against the worldโ€™s biggest cryptocurrency exchanges have reopened tensions between the government and a volatile industry that has been marred by scandals and market meltdowns.

Changes to food aid in debt bill would cost money, far from savings GOP envisioned

A Republican attempt to expand work requirements for federal food aid in debt legislation moving through Congress would increase federal spending by $2.1 billion over 10 years.

Takeaways on debt ceiling: McCarthyโ€™s balancing act, Bidenโ€™s choice and the challenges ahead

After weeks of negotiations, President Joe Biden and House Speaker Kevin McCarthy have struck an agreement to avert a potentially devastating government default.

Biden, GOP reach debt-ceiling deal, now Congress must approve it to prevent calamitous default

President Joe Biden and House Speaker Kevin McCarthy have reached an โ€œagreement in principleโ€ to resolve the looming debt crisis.

What's next on the debt ceiling: Selling the plan, and making a deal into a law

After weeks of negotiations, President Joe Biden and House Speaker Kevin McCarthy have announced an โ€œagreement in principleโ€ to raise the nationโ€™s debt ceiling and avoid a potentially catastrophic default.

Biden says debt deal 'very close' even as two sides far apart on work requirements

Work requirements for federal food aid recipients have emerged as a final sticking point in negotiations over the looming debt crisis, even as President Joe Biden says a deal is โ€œvery close.โ€.

X marks the spot: Yellen tells Congress US could run out of money to pay all its bills by June 5

Treasury Secretary Janet Yellen has told Congress that the U.S. could default on its debt obligations by June 5 if lawmakers do not act in time to raise the federal debt ceiling.

U.S. debt ceiling fight riles Texans at both political ends

The high-stakes confrontation could have an impact on retirements accounts, corporations and much more.

Deadline looming, Biden and McCarthy narrow in on budget deal to lift debt ceiling

Days from a deadline, President Joe Biden and House Speaker Kevin McCarthy are narrowing in on a two-year budget deal that could unlock a vote for lifting the nationโ€™s debt ceiling.

Threat of US credit downgrade looms over debt ceiling talks

With one of three major rating agencies warning that Americaโ€™s AAA credit is at risk, the stakes are growing in the standoff in Washington over raising the nationโ€™s debt limit.

Debt default 'X-date' calculations aim to figure out when the US may run short of cash

For all the concern over when the government might run out of money to cover all its bills, it turns out that no one can be absolutely sure exactly when the country faces a potential default โ€” the dreaded โ€œX-date.โ€.

McCarthy's Republicans push debt ceiling talks to brink, lawmakers leaving town for weekend

House Republicans are pushing debt ceiling talks to the brink.

Stock market today: Asian stocks slide as US debt worries mount

Asian stock markets have slid as the U.S. government creeps closer to a potentially disruptive default on its debt.

Just in case: Anxious retirees, social service groups among those making default contingency plans

Politicians in Washington may be offering assurance that the government will figure out a way to avert default, but around the country, economic anxiety is rising and some people already are adjusting their routines.

Debt ceiling explained: Why it's a struggle in Washington and how the impasse could end

President Joe Biden and House Speaker Kevin McCarthy are to meet face to face on Monday after a weekend of on again, off again negotiations over raising the nationโ€™s debt ceiling.

Biden, McCarthy to hold pivotal meeting on debt ceiling as time to resolve standoff grows short

President Joe Biden and House Speaker Kevin McCarthy have a pivotal meeting coming up on the impasse over the debt ceiling.

G7 stance on China complicated by huge stakes in economic ties, cooperation on global issues

Leaders of the Group of Seven advanced economies are generally united in voicing concern about China.

Why a government default could be worse than a government shutdown

All the hand-wringing over a potential government default if Congress doesnโ€™t increase the national debt limit has conjured up images of past government shutdowns.

Debt ceiling showdown: Biden and congressional leaders to meet as McCarthy pushes for faster deal

President Joe Biden will discuss the debt limit with House Speaker Kevin McCarthy and congressional leaders at the White House.

More red ink: Congressional budget agency projects bigger deficits as debt talks continue

The Congressional Budget Office says this yearโ€™s projected federal budget deficit has jumped by $130 billion.

G-7 talks focus on ways to fortify banks, supply chains as China accuses group of hypocrisy

Financial leaders of the Group of Seven advanced economies are focusing on ways to fortify ever more complicated financial systems and supply chains during meetings in Japan ahead of a summit next week.

Yellen: Different system needed to end repeated standoffs over US debt ceiling

Treasury Secretary Janet Yellen says that in her personal opinion, the United States should adopt a different system for national finances that might forestall repeated standoffs with Congress over spending.

G7 finance ministers tackle global economic challenges as Yellen seeks to reassure on debt standoff

The financial leaders of the Group of Seven wealthy nations are meeting in Japan as a standoff over the U.S. debt ceiling looms as one of the biggest potential threats to the global economy.

Deal or default? Biden, GOP must decide what's on the table

Before President Joe Biden and congressional leaders can even try to avert an unprecedented U.S. government default, their initial challenge on Tuesday will be to agree on what exactly theyโ€™re talking about as they hold their first substantive meeting in months.

Lawsuit: Yellen should ignore 'unconstitutional' debt limit

A union of government employees sued Treasury Secretary Janet Yellen and President Joe Biden to try to stop them from complying with the law that limits the governmentโ€™s total debt, which the lawsuit contends is unconstitutional.

Yellen: 'No good options' if Congress fails to act on debt

Treasury Secretary Janet Yellen says there are โ€œno good optionsโ€ for the United States to avoid an economic โ€œcalamityโ€ if Congress fails to raise the nationโ€™s $31 trillion-plus borrowing limit in the coming weeks.

Faster IRS offering better picture on looming debt 'X-date'

That big infusion of cash that Congress approved last year to shape up the beleaguered IRS is having an unexpected side benefit.

Debt deadline: White House meeting set, but no solution yet

Facing the risk of a government default as soon as June 1, President Joe Biden has invited the top four congressional leaders to a White House meeting for talks next week.

Treasury's Yellen says US could default as soon as June 1

Treasury Secretary Janet Yellen has notified Congress that the U.S. could default on its debt as early as June 1, if legislators do not raise or suspend the nationโ€™s borrowing authority before then and avert what could potentially become a global financial crisis.

Yellen calls for better US-China relations as tensions rise

Treasury Secretary Janet Yellen has struck a conciliatory tone while talking about strained U_S_-China relations, saying the nations โ€œneed to find a way to live together.โ€.

Slow start on World Bank reform angers climate-hit countries

World Bank meetings in Washington were supposed to be a first step in a new era of affordable loans for developing nations hard hit by climate change.

New India-born World Bank chief: Real change or rebranding?

The incoming president of the World Bank was born in India and had his early success in business there.

Zelenskyy calls for confiscating Russian Central Bank funds

Ukraineโ€™s president is renewing his call to confiscate Russian Central Bank assets held around the world and use them to help rebuild Ukraine.

78-year-old bank heist suspect: โ€˜I didnโ€™t mean to scare youโ€™

A 78-year-old woman with two past bank robbery convictions faces new charges after authorities allege she handed a teller a note that said โ€œI didnโ€™t mean to scare youโ€ during a recent Missouri heist.

New IRS leader promises faster, easier tax filing process

The Internal Revenue Serviceโ€™s new commissioner promises that with billions in new funding, the agency will be faster, more service-focused and tech- savvy and will provide โ€œreal-world improvementsโ€ to taxpayers.

Biden pushes econ policy as Trump indictment gets attention

President Joe Biden ventured to suburban Minneapolis on Monday to talk about factory jobs and contrast his agenda with โ€œthe last guy" who had his job.

How a little-known agency holds power over TikTok's future

Under pressure from the U.S. government, TikTok is now facing the music with the possibility of a nationwide ban if it defies a government order to sell to an American company โ€” unless the popular social media app can convince a high-powered panel that its data security restructuring plan sufficiently guards against national security concerns.

Biden calls to revive bank regulations that Trump weakened

Weeks after the failure of two banks, President Joe Biden is calling for independent regulatory agencies to impose tighter rules on the financial system.

US makes corporate transparency commitment with 20 nations

Treasury Secretary Janet Yellen announced Americaโ€™s commitment to enhancing corporate transparency along with some 20 other countries participating in this week's Summit for Democracy.

Elizabeth Warren running for 3rd US Senate term in 2024

Massachusetts Democratic U.S. Sen. Elizabeth Warren has announced she will seek a third term in 2024.

Bank failures and rescue test Yellen's decades of experience

Treasury Secretary Janet Yellen worked against the clock with other regulators, lawmakers and business leaders to come up with a plan that would prevent a full blown banking crisis.

Asian shares fall on banking turmoil, recession worries

Shares have fallen in Asia as worries over turmoil in the banking sector and the risks of recession overshadowed gains on Wall Street.

Why TikTok's security risks keep raising fears

The battle between the U.S. and China over TikTok came into full view when the social media platformโ€™s CEO testified before Congressional lawmakers.

Asian shares advance on back of Wall Street rally

Asian shares are higher after stocks rallied on Wall Street, including the banks most beaten down by the industry's crisis.

Asian shares decline after Fed hints rate hikes may end soon

Asian shares are mostly lower after the Federal Reserve raised a key interest rate, while noting the end may be near for its economy-crunching rate hikes.

Yellen says bank situation stabilizing, different from 2008

Treasury Secretary Janet Yellen says she's focused on stabilizing the U.S. banking system following regional bank failures in California and New York.

Yellen declares bank system sound, as new rescues ordered

Treasury Secretary Janet Yellen is firmly reassuring Congress and the nation that the U.S. banking system remains sound.

Vice President Harris to visit Africa in latest US outreach

Vice President Kamala Harris plans to travel to Africa at the end of March as the United States seeks to pitch itself as a better partner for the continent than China is.

US government moves to stop potential banking crisis

The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring depositors at the failed financial institution that they would be able to access all of their money quickly.

Yellen visits Ukraine, underscores US economic support

U.S. Treasury Secretary Janet Yellen says her first visit to Ukraine underscores Washington's commitment to continuing its economic support for the country.

Biden unveils new Ukraine weapons package, Russia sanctions

The Biden administration is declaring its solidarity with Ukraine by piling sweeping new sanctions on Moscow and approving a fresh $2 billion weapons package for Kyiv.

Ukraine tensions flare at G-20 finance meetings in India

Tensions over Russia's war on Ukraine have flared at meetings of finance ministers and central bank chiefs in India.

Yellen affirms push for stronger Russia sanctions at G-20

Treasury Secretary Janet Yellen says the U.S. will push for tougher, better enforced sanctions against Russia and is hoping for a โ€œfully funded" package of financial support for Ukraine.

New estimate U.S. could face default on debt by early June

A new estimate finds the U.S. could face an unprecedented default on its obligations as soon as early June if Congress does not act to lift the debt limit.

G-20 finance chiefs to tackle global economic threats

Top financial leaders from the Group of 20 leading economies are gathering in the south Indian technology hub of Bengaluru to tackle challenges to global growth and stability.

Janet Yellen to visit India for G-20 finance meetings

Treasury Secretary Janet Yellen will travel to India next week to attend Group of 20 finance minister meetings in Bengaluru and will address the global economic impacts of Russiaโ€™s invasion of Ukraine.

Biden, Yellen warn of 'catastrophe' if debt limit not raised

President Joe Biden and Treasury Secretary Janet Yellen are warning of a potential economic crisis if Congress and the White House fail to raise the federal debt ceiling.

G-7, Europe reach deal for price cap on Russian diesel

U.S. Treasury Secretary Janet Yellen says industrialized countries in the Group of Seven are imposing a price cap on refined Russian oil products such as diesel and kerosene, as part of a coalition that includes Australia and a tentative agreement from the European Union.

Treasury to increase borrowing amid debt ceiling standoff

The Treasury Department has announced plans to increase its borrowing during the first three months of 2023.

Yellen focuses on energy transition in South Africa visit

U.S. Treasury Secretary Janet Yellen has discussed South Africaโ€™s transition from its heavy reliance on coal to greener energy sources during talks with the countryโ€™s finance minister.

Yellen tours wildlife reserve to start South Africa visit

U.S. Treasury Secretary Janet Yellen has used a tour of a wildlife park in South Africa to announce a joint initiative to combat wildlife trafficking and related criminal activities in both countries.

China uses US debt battle to deflect pressure on Africa debt

The Chinese government says the U.S. should stop pressuring it on debt relief for Zambia and get its own financial house in order to avert a default and the possible fallout on the global economy.

Yellen visits Zambian farm to showcase Africa's ag potential

U.S. Treasury Secretary Janet Yellen has visited sites in rural and urban Zambia to showcase Africa's potential to help solve the world's problems with food shortages.

Treasury takes another 'extraordinary' step on debt limit

U.S. Treasury Secretary Janet Yellen says in a letter to congressional leaders that she's suspending the reinvestment of federal bonds in a government workersโ€™ savings plan.

Yellen pushes for China to address Zambia's big debt burden

U.S. Treasury Secretary Janet Yellen says on the second leg on her African tour it's โ€œcritically importantโ€ to address Zambia's debt crisis.

US ambassador heading to Africa as part of Biden's big push

The U.S. ambassador to the United Nations is the second Cabinet member heading to Africa as part of President Joe Bidenโ€™s big push to engage with the worldโ€™s second-largest continent.

The AP Interview: Yellen says debt standoff risks โ€˜calamityโ€™

U.S. Treasury Secretary Janet Yellen says in an Associated Press interview that she expects Congress will ultimately vote to raise America's debt limit.

Door of No Return: Yellen visits onetime slave-trading post

U.S. Treasury Secretary Janet Yellen has paid a solemn visit to an island off Senegal that is one of the most recognized symbols of the horrors of the Atlantic slave trade that trapped tens of millions of Africans in bondage.

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