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The Treasury just fined BofA $1.2 billion
A BofA spokesperson said the fine would impact the bank's coming quarterly earnings.
US Sanctions Mexican Cartel CDN's Horse-Racing, Business Network
MEXICO CITY, Oct 13 (Reuters) - The US Treasury Department on Tuesday sanctioned four people and 11 entities tied to the Cartel del Noreste (CDN), targeting a business network spanning horse racing, construction, trucking and the energy sector that Washington says helped finance the Mexican ...
Wilson Sonsini Advises Armada Acquisition Corp. II on Business Combination with Evernorth Holdings
On October 9, 2026, Armada Acquisition Corp. II (Armada II), a special purpose acquisition company, and Evernorth Holdings (Evernorth), a digital asset treasury company building institutional access…
Bessent mocks Sen Warren, wishes her 'Happy Indigenous Peoples' Day' in response to letter
Scott Bessent accused Elizabeth Warren of having little knowledge about financial markets in a snarky response to her 10-year treasury yield letter.
Wall Street finishes its record-setting week with gains - The Business Journal Stocks Rise as Wall Street Closes Record-Setting Week Amid Inflation Worries
U.S. stocks gained Friday as the S&P 500, Dow and Nasdaq rose, while higher oil prices, Treasury yields and inflation concerns weighed on investors.
Trump bucks and the politics of mailing checks
The checks started going out last week, nearly one million of them, and mostly to battleground states. With a return address for the U.S. Treasury and a letter enclosed signed by President Donald Trump, these one-time checks for $500 were ostensibly government rebates for Obamacare enrollees who overpaid. In the accompanying letter, however, Trump attacks his predecessor and talks about his record in office on an important issue he’s not polling well on, which makes it seem more like the most expensive political mailer in U.S. history. The average piece of direct mail costs between 30 cents and $3, according to Mail Processing Associates, a print, mail, and fulfillment company. At $500 a pop plus roughly 50 cents each to issue the paper check, the cost of Trump’s healthcare mailer sent to more than 950,000 enrollees comes in at more than $475 million. Trump’s midterm healthcare message “For years, the Biden Administration overcharged you to fund the operation of HealthCare dot gov,” Trump wrote in the letter. “That money belongs to hard-working Americans, not the Government, and now, I am returning it to you!” In the letter, Trump makes false and misleading claims about his administration’s record on healthcare costs, an issue Democrats have a 20 point advantage on over Republicans, according to a recent poll from KFF, a nonpartisan health policy think tank. Trump touts his administration’s TrumpRX program, which he claims is “delivering massive discounts.” However, new research from KFF found that of a selection of drugs available on the TrumpRX platform, just five were the lowest price, while 13 were the highest price. Trump also falsely claims in the letter that he’s fighting to lower healthcare costs. In reality, average monthly premium payment costs for enrollees rose 58% under Trump while marketplace sign-ups declined 5%, per KFF. Under Trump’s One Big Beautiful Bill Act, it’s estimated 10 million more Americans will be uninsured by 2034. You get a check and you get a check and you get a check Trump’s long promised cash outs to his fans, from his days as a casino operator and gameshow host to his presidency. During the early days of the COVID-19 pandemic in 2020, the first Trump administration made the unprecedented move to put Trump’s name on checks that went out under the CARES Act (notably the $500 refund checks this time around don’t feature Trump’s name). Ever since, Trump’s been chasing that high. In his second term, Trump’s promised more stimulus that never arrived, like refund checks from DOGE cuts and tariffs, while he said at his party’s convention last month that he’d give out $5,000 checks to everyone if Republicans win in November. In reality, DOGE overstated its cost cutting and Trump’s government actually now spends more than former President Joe Biden’s, while Trump’s tariffs actually grew the trade deficit. His proposal for $5,000 checks would add about $1.2 trillion to the national debt. The problem is there’s no money to give. These $500 checks — plus $90 Medicare rebate checks also going out as well as $250 deposited this week in some Trump Accounts for kids courtesy Dell Technologies CEO Michael Dell and his wife Susan — represent the closest Trump’s going to get to making good on his promise to deliver cash fast. And the checks seem especially targeted. Though the $500 checks went out to enrollees in one of 30 states that use the federal HealthCare dot gov marketplace, a Reuters review found 71% of the payments, or $339 million, went to enrollees in 13 states that have the most competitive elections for governor and U.S. Senate. Most Americans don’t buy it Could Trump bucks sway the election? An Economist-YouGov poll found 57% of U.S. adults doubt Trump will deliver on his promise for $5,000 checks, compared to 21% who do. “I’m waiting on my DOGE check and I’m still waiting on my tariff check,” one 2024 Trump voter who’s since turned on him told a recent focus group. “It felt like kind of trying to buy people’s votes, which honestly felt like in elementary when the class president was like, hey we’re going to take you to the water park if you vote for me. It’s like, I don’t think it works like that.” But for voters in swing states who got a check, it could still matter. One survey published in 2022 found receiving a physically personalized check in the mail during the pandemic was associated with a much greater self-reported likelihood of voting for Trump in 2020, and those gains mainly came from out partisans. The issue for Trump comes if these checks are mostly going to Obamacare enrollees whose premiums have gone up by more than just $500 since he took office and who view the money as something like a bribe before the election rather than an actual long-term solution to lowering household costs. Spending $500.50 per mailer would be absurd as a normal campaign expenditure, but since Trump’s checks and letter are a government rebate, his campaign and super PAC didn’t have to spend a dime and he got out his message regardless. If enough voters in key states are swayed by the one-time payment, it could prove to be the best $0 the Trump campaign spent. Subscribe [ ](https://www.yellopolitics.com/p/why-independent-candidates-are-making) [ Why independent candidates are making independence central to their brand ](https://www.yellopolitics.com/p/why-independent-candidates-are-making) Hunter Schwarz · Oct 6 [ Read full story ](https://www.yellopolitics.com/p/why-independent-candidates-are-making) [ ](https://www.yellopolitics.com/p/these-designers-and-grocery-nerds) [ These designers and grocery nerds will brand Mamdani’s NYC grocery stores ](https://www.yellopolitics.com/p/these-designers-and-grocery-nerds) Hunter Schwarz · Oct 2 [ Read full story ](https://www.yellopolitics.com/p/these-designers-and-grocery-nerds) Trump wants to turn his first-ever golf course into a government course for presidents
Glen Powell On Why He Doesn't Talk Politics & Why 'Running Man' Flopped
Glen Powell is opening up about why he shies away from talking about politics publicly, even though his mother worked in the Reagan administration at the U.S. Treasury Department.
Lower US Treasury yield view persists despite biggest quarterly surge since 1994
US Treasury yields are forecast to fall over coming months, according to fixed income strategists in a Reuters poll who clung to their long-held view despite the benchmark 10-year yield recording its biggest quarterly jump since 1994.
Euro faces political, fiscal reckoning as it hovers near 17-month low
The euro struggled near a 17-month low on Tuesday, weighed down by political uncertainty and fiscal concerns across the euro zone, while the dollar extended its blistering rally as it rode US Treasury yields higher.
US says foreign financial institutions doing business with Iran may be sanctioned without notice
WASHINGTON, Oct 5 (Reuters) - The US Treasury Department said on Monday it was alerting foreign financial institutions that continue to do business with Iran or its financial sector that they may be sanctioned by Washington without advance notice. DETAILS: • "Foreign financial institutions continuing to transact with sanctioned Iranian financial institutions could be targeted at any time without advance notification and should take immediate action to terminate such activity and relationship
US says foreign financial institutions doing business with Iran may be sanctioned without notice
WASHINGTON, Oct 5 (Reuters) - The US Treasury Department said on Monday it was alerting foreign financial institutions that continue to do business with Iran or its financial sector that they may be sanctioned by Washington without advance notice.
US says foreign financial institutions doing business with Iran may be sanctioned without notice
The US Treasury Department said on Monday it was alerting foreign financial institutions that continue to do business with Iran or its financial sector that they may be sanctioned by Washington without advance notice.
Small Businesses Skip the Cross-Border Plumbing Big Companies Can’t Escape
Conventional wisdom says large corporations should dominate cross-border payments. They have global banks, treasury teams, negotiated FX rates,
U.S. treasury secretary to speak at Pennsylvania Chamber of Business and Industry dinner
U.S. Secretary of the Treasury Scott Bessent will be one of the guest speakers during the Pennsylvania Chamber of Business and Industry's annual dinner Monday.
Rebuked by Bond Market, Bessent Says ‘House’ Does Not Always Win
The Treasury secretary said in an interview with Axios that he cannot control the Treasury market but argued that U.S. bond yields would come back down over time.
Scott Bessent compares AI CEOs seeking regulation to Hannibal Lecter
Treasury Secretary Scott Bessent said Silicon Valley doesn't need the government to intervene.
Iran knows US 'is winning' as Operation Economic Outcast inflicts damage, Treasury official says
A top Treasury official told FOX Business that the "absolute isolation" campaign the Treasury is imposing on the Iranian regime has been "really effective."
Rising yields are wreaking havoc on stocks outside the AI trade
After the 10-year Treasury yield rose as high as 5.34% for the first time since 2002, stock traders are fiercely debating when the selloff in bonds will start to trigger
Equities rebound to close higher as surging Treasury yields recede
Us stocks closed higher after treasury yields reversed course from multi-decade highs, easing inflation fears and boosting energy and technology sectors.
$289 Million for Small-Business Lenders Released Just Before Funding Deadline
The Trump Administration has withheld Congressionally allocated funding for Community Financial Development Institutions this year despite CDFIs historically drawing bipartisan support.
US futures dragged lower as oil prices and Treasury yields climb
U.S. futures are edging lower as oil prices climb and bond yields continue to pressure stocks. Futures for the S&P 500 dipped 0.1% on Wednesday, while those for the Dow
The Beclowning of Scott Bessent
One iron law of current politics is that nobody who associates themselves with Donald Trump emerges with a shred of credibility. For some, that’s not a big loss — it’s not as if anyone respected Pete Hegseth even before he decided that the key to military success in an age of drones and AI was more testosterone. For others, however, the costs are real. I’m old enough to remember when Marco Rubio was widely considered a reasonable, thoughtful politician. Right now, however, my candidate for the biggest loser is Scott Bessent, the Secretary of the Treasury. Bessent started out with significant reputation to lose: When Trump selected him, this was the headline in the Financial Times: Jason Furman, Barack Obama’s chief economist, described him as a “credible Treasury secretary who has a real understanding of the global economy”. But Bessent has now transformed himself into the Baghdad Bob of bonds. Three weeks ago, after intervening (for reasons that remain somewhat unclear) to support the Japanese yen, Bessent boasted about his ability to move markets and dared investors to bet against his, declaring “I am the house now.” He then tried to push long-term interest rates down, buying 30-year U.S. Treasuries in a move some have compared to paying down part of your mortgage by running up your credit card balance. Here’s how that’s going so far: To get some perspective on how high interest rates have gone, here’s a longer-term perspective: We haven’t seen interest rates this high since the fading days of the dotcom bubble. Why are interest rates hitting new records? The backdrop, as I argued in last Sunday’s primer, is the huge AI-driven investment boom; more on that next week. But the immediate cause of the latest interest rate spike was Trump’s rejection of an Iranian proposal to end the war. This rejection sent crude oil prices, which for a while had fallen considerably, shooting back up: It’s notable, by the way, that oil prices remain high even though a significant amount of oil is now being shuttled through the Strait of Hormuz by night, on smaller vessels. That’s an interesting story, which has a lot to do with the fact that oil from the Hormuz shuttle runs must be transferred to larger vessels before being shipped to markets in Europe and Asia; around 15 percent of the world’s large crude carriers are now parked off the coast of Oman, waiting to be tanked up. This is creating a shipping crunch: But that’s a topic for another day. For now, the point is that with oil still high and refined products, especially diesel, still close to record levels, inflation will remain elevated. And this in turn means that the Federal Reserve will keep short-term interest rates high, an expectation that is feeding into longer-term rates. Hence Bessent’s bond-market humiliation. The truth is that Bessent might not have been able to get interest rates down even in the best of circumstances. But he certainly won’t get anywhere as long as Trump keeps believing that he can somehow convert his Iran debacle into a triumphant victory. And Trump will keep believing that as long as he is surrounded by sycophants who tell him what he wants to hear. Sycophants like, for example, Scott Bessent, who is predicting the imminent collapse of the Iranian economy, possibly within two weeks. Bessent is right to say that the embargo on Iranian oil exports is placing the country under great economic strain. But his implicit prediction that this will quickly produce a deal that Trump can call victory looks no more plausible than his boasts about the bond market. The big question now is, why would anyone with a reputation to lose work for Donald Trump? As the beclowning of Bessent shows, joining the Trump team won’t just damage your reputation; it will utterly destroy it.
What to know about Trump’s meeting with China’s Xi and the economic stakes
Treasury Secretary Scott Bessent said the U.S. and China have agreed to extend a trade truce. Here’s a guide to what else is happening behind the scenes.
Dollar perched at two-month high as hot PMI fuels inflation fears, rate hike bets
The dollar clung to a two-month high on Thursday after a strong manufacturing reading reignited inflation fears and rate-hike bets, while a weak Treasury auction sent yields higher across the curve, providing fresh impetus to the US currency.
U.S. and China Agree to Extend Trade Truce by 2 Months, Bessent Says
The Treasury secretary, who is leading talks with China, said the countries had agreed to extend a trade truce until January.
Wall Street ends down as oil prices, Treasury yields rise
Wall Street ended lower as oil prices surged nearly 4% and treasury yields hit multi-year highs amid escalating tensions with Iran and rising interest rate expectations.
Breaking | Bessent and He meet again for ‘some unfinished business’ as Xi summit nears
US Treasury Secretary and Chinese Vice Premier held an unscheduled meeting in Washington on Wednesday following Sunday’s trade talks.
US proposes AI incident notification mechanism before Trump-Xi summit
Treasury Secretary Scott Bessent proposed an AI notification mechanism for national security ahead of Trump-Xi talks.
Bessent: US proposes AI incident alert system in talks with China
The U.S. is proposing a new notification system with China for artificial intelligence incidents that could threaten national security. Treasury Secretary Scott Bessent announced the plan on Sunday after talks
PENN Entertainment, Inspired, Lovesac, Rush Street Interactive, and Marriott Vacations Stocks Trade Down, What You Need To Know
A number of stocks fell in the afternoon session after rising Treasury yields and higher interest rates intensified worries over household finances and discretionary consumption, creating headwind conditions for consumer-facing companies. According to Reuters, as borrowing costs on mortgages, auto loans, and credit cards climb, household budgets are increasingly squeezed, encouraging consumers to prioritize saving and basic necessities over non-essential purchases. In addition, recent economic d
United Bank hires Phil Poliquin to lead government contracting business
Phil PoliquinUnited Bank, a subsidiary of United Bankshares, Inc. (NASDAQ: UBSI), has announced that Phil Poliquin has joined the Bank as senior vice president and managing director of Government Contracting (GovCon), leading the next phase of growth for United’s GovCon business across the Bank’s footprint.United has a longstanding history of serving government contractors and meeting the dynamic banking needs of companies supporting federal, state and commercial markets. Building on that foundation, the Bank is establishing a dedicated GovCon team led by Poliquin. The new team will bring together bankers from across United's footprint under a focused strategy designed to deepen industry expertise, strengthen client relationships and expand the Bank's presence in this important market.“Government contractors operate in a complex and highly specialized environment, and Phil understands that environment from multiple perspectives,” said United Bank Chief Commercial Lending Officer Mike Proctor in a press release. “His extensive commercial banking experience, combined with more than two decades of military and government service, brings tremendous depth and expertise to our team. We’re excited to have his leadership and insight as we continue strengthening how United serves our GovCon clients across the nation’s capital and beyond.”In his new role, Poliquin will lead United’s GovCon lending strategy and a team of specialists, with a focus on deepening client relationships and expanding the Bank’s presence in the government contracting and defense sectors. He will also serve as a subject matter expert across the organization, partnering with bankers across United’s footprint to support GovCon clients and opportunities.“Government contracting has long been an important part of the economy across the Washington region, and we believe it remains an attractive sector for growth,” said United Chief Executive Officer Richard M. Adams, Jr. in a press release “As the needs of these companies continue to evolve, investing in specialized leadership strengthens our ability to build on our established presence, expand how we serve this market, and pursue new opportunities.”Poliquin has a decade of experience in commercial banking, most recently serving as executive director of Aerospace, Defense, and Government Services (ADG) commercial banking at JPMorgan Chase. In this role, he led a team responsible for providing specialized financing and treasury advice to federal government contractor companies across the nation. Previously, he also held senior leadership positions at Bank of America.Prior to his banking career, Poliquin served 24 years in the U.S. Navy, retiring at the rank of Captain in 2013. A Naval aviator, he flew more than 100 combat missions in operations around the world and served in senior leadership positions, including as commanding officer of an F/A-18 Super Hornet squadron, leading more than 250 personnel during two combat deployments. He later joined the Intelligence Community as a program manager at the National Reconnaissance Office and contributed to the development of the Navy’s unmanned aircraft system strategy.“United has a strong foundation in government contracting, and I’m excited about the opportunity to build on that foundation by expanding our industry presence, deepening relationships, and developing a team with specialized expertise focused on serving government contractors,” said Poliquin in the release. “The goal is to be a trusted resource for growth-oriented companies that need a banking partner who understands what they do, where they’re headed and can help them navigate the opportunities and complexities of this market.”Poliquin holds a bachelor’s degree in mathematics from the University of Oklahoma, a master’s degree in national security strategy from the U.S. Naval War College, and an MBA from the University of North Carolina at Chapel Hill’s Kenan-Flagler Business School.
Wall St ends mixed as oil takes a pause
Wall Street closed mixed as US Treasury yields topped 5% and oil prices paused above $100 per barrel, keeping inflation concerns in focus.
PENN Entertainment, Inspired, Lovesac, Rush Street Interactive, and Marriott Vacations Stocks Trade Down, What You Need To Know
What Happened? A number of stocks fell in the afternoon session after rising Treasury yields and higher interest rates intensified worries over household fin...
With Kemi’s new shadow chancellor, the Tories must hope for a bout of public amnesia
Andrew Griffith is keen on clearing red tape. Good job he wasn’t part of a Treasury team that abolished the Office for Tax Simplification
Commentary: Will Iran become a two-front war?
When U.S. Treasury Secretary Scott Bessent announced a new economic pressure campaign on Iran last month, the goal was simple: Keep the squeeze on Tehran’s economy without resorting to the
Bessent says US needs more open-source AI models to compete with China
Treasury Secretary Scott Bessent cited Anthropic's Mythos model as a step toward AGI and urged Congress to develop open source AI against China.
Wall Street ends down, calls for AI slowdown pummel chipmakers
Wall Street declines as Nvidia and chipmakers drop amid AI safety calls and rising 10-year Treasury yields ahead of the Federal Reserve meeting.
Lone Star Politics: Sept. 13, 2026
Lone Star Politics is looking at the big headlines from the RNC midterm convention. Plus, a sit down conversation with U.S. Treasury Secretary Scott Bessent.
Crystal Dionne, 2026 Outstanding Women in Business Recipient
Crystal Dionne, CPA, is an experienced finance professional with more than 25 years in leadership roles. She specializes in government finance, financial and strategic planning, treasury management, budgeting and risk management as well as human resources management.
Treasury Must Keep Collecting and Preserving Business Owner Info
The Treasury Department’s decision to stop collecting certain business ownership information and delete information already collected will hinder fraud investigations by the IRS and other federal agencies, columnist Danny Werfel writes.
Goldman says Treasury buybacks won't be enough to tame bond yields
Treasury yields remained elevated after the department said it would repurchase up to $6 billion of 10- to 20-year debt.
Bessent’s political turn in GOP speech tests his bond-market credibility
Treasury Secretary Scott Bessent's planned Republican convention speech in Dallas is raising questions about how politics could affect market confidence in him.
Why Treasury Yields Near 5 Percent Are Keeping Your Mortgage (and Business Loan) Expensive
Everyone watches the Fed for lower interest rates. But Treasury yields can matter just as much.
Qalibaf Mocks Bessent’s ‘Liftoff’ Claims, Highlights US Economic Pressures
TEHRAN (Tasnim) – Iranian Parliament Speaker Mohammad Baqer Qalibaf responded to US Treasury Secretary Scott Bessent’s remarks about the US economy and oil prices, highlighting mounting economic and financial pressures facing Washington.
Treasury Secretary Scott Bessent sits down with The Political Beat after G20 meetings
The Political Beat’s Joe Bruno sat down with Bessent to discuss the G20 meetings, the economy, and Charlotte’s role.
The U.S. isn’t alone in racking up big debt
Climbing borrowing costs have become a headache for Treasury Secretary Scott Bessent. But the United States is not the only country grappling with the potentially destabilizing consequences of soaring government debt.
Trump’s ‘Catch-Me-If-You-Can’ presidency keeps finding ways around the law
A plain reading of the law about presidents on coins says the face of a living president should not be on currency. And yet President Donald Trump’s is, after his Treasury Department exploited a different law related to commemorative coins.
Metaplanet’s Business Head Phil Geiger Departs to Pursue New Bitcoin Ventures
A major leadership departure has happened in Metaplanet. Phil Geiger, who served as Head of Business Development at the leading Japanese Bitcoin treasury company Metaplanet, has announced his departure from the company as he takes on new roles across the Bitcoin ecosystem. Geiger shared the update on LinkedIn, saying he had “wrapped up” his time
U.S. issues sanctions on Turkish bank that it is 'financial lifeline' for Iran
The actions come nearly a week after Treasury Secretary Scott Bessent announced “Operation Economic Outcast"
U.S. issues sanctions on Turkish bank that it is 'financial lifeline' for Iran
The actions come nearly a week after Treasury Secretary Scott Bessent announced “Operation Economic Outcast"
Qalibaf Mocks US over Oil, Treasury Yield Pressures
TEHRAN (Tasnim) – Iran’s Parliament speaker warned that the US is facing growing pressure from rising oil futures prices, elevated Treasury yields and the depletion of the country’s Strategic Petroleum Reserve (SPR), saying the consequences of US’ policies are increasingly difficult to conceal.
Bessent on trade war with Canada: Carney ‘chose to walk away’ from a deal
Treasury Secretary Scott Bessent on Monday took aim at Prime Minister Mark Carney, claiming that the Canadian leader “chose to walk away” from a trade deal. “And then he started this. And it’s unfo…
THE WEEK OF AUG 31, 2026
- Congress returns to face budget crunch - Science agencies targeted by hackers - NSF and Treasury announce quantum initiatives
Treasury Department blocks certain journalists from covering G20 meeting
The New York Times said in a statement that denying American journalists access to an event in the U.S. is “not just another disturbing effort by the administration to undermine independent journalism, but a blatant attempt to evade public scrutiny.”
Bessent says disorderly yen moves can destabilize global markets
U.S. Treasury Secretary Scott Bessent said disorderly moves in the yen could trigger "forced unwinds" of positions that risk destabilizing global markets and ultimately raising borrowing costs for U.S. households and businesses.
US Treasury imposes limits on Egyptian bank for doing business with Iran
Measures targeting UAE branches of Banque Misr are part of Trump administration’s efforts to isolate Tehran
Trump administration designates three far-left groups as violent terrorist networks under new sanctions
The Treasury Department sanctioned Palestine Action, Autistici Inventati and Masar Badil, freezing U.S. assets tied to violent far-left terror networks.
Bitcoin treasury companies shed $80bn in value as business model unwinds
Crypto hoarders have been selling tokens and reverting to former activities
The US says it’ll crack down on countries doing business with Iran. Who’s buying Iranian oil?
US Treasury Secretary Scott Bessent on Monday vowed an “economic D-Day” for countries that buy oil from Iran. Experts say that means one country in particular: China.
Bessent warns countries to halt business with Iran or face action
U.S. Treasury Secretary Scott Bessent on Monday (August 24) announced an expansion of secondary sanctions it can impose on entities and countries that maintain business ties with Iran around the world as Washington significantly ratchets up economic pressure on Tehran with the war nearing its 6-month mark.
US aims for ‘economic asphyxiation’ of Iranian regime with new wave of secondary sanctions
Treasury Secretary Scott Bessent launches Operation Economic Outcast, targeting Iran's economy with secondary sanctions to cut off global trade revenue.
US Treasury to broaden scope of sanctions on those who do business with Iran, source says
* * *
Trump administration live updates: U.S. expected to announce new economic actions against Iran
Live updates and latest news on the Trump administration. Treasury Secretary Scott Bessent is expected to announce new economic actions against Iran.
Democrats pressure Treasury to reconsider placing Tubman on $20
Tubman is credited with conducting 13 missions on the Underground Railroad to free approximately 70 slaves
Democrats pressure Treasury to reconsider placing Tubman on $20
Tubman is credited with conducting 13 missions on the Underground Railroad to free approximately 70 slaves
The tariff math turns negative as refunds outpace revenue
The Trump administration’s tariff policy has resulted in substantial refunds and continued uncertainty about tariff revenue, Fortune reports. In May 2026, the Treasury refunded approximately $21.97 billion in tariffs while collecting about $21.93 billion. In June, refunds increased to $49.18 billion compared with $23.63 billion in new tariff collections, resulting in negative net customs revenue […]
Gold steadies, heads for third straight weekly gain
Gold held steady on Friday but was on track for a third straight weekly gain, buoyed by a weaker dollar and U.S. Treasury Department efforts to hold down longer-term yields.
Treasury's surprise bond-market move could hit your wallet. Here's how.
Surging Treasury yields can ripple through mortgage rates, stocks, corporate borrowing, and the broader US economy.
AMC Entertainment Stock Moves Higher Wednesday: What's Going On?
Shares of AMC Entertainment Holdings Inc. (NYSE:AMC) are climbing Wednesday afternoon, lifted by broader market strength following a major macroeconomic policy move.Treasury Bond Buyback Program Relieves Market PressureThe U.S. Treasury Department announced a surprise expansion of its debt buyback…
The bond market is sounding an alarm. Here’s what it means.
Long-term Treasury yields rose to their highest point since 2007, creating another headwind for the economy and lifting borrowing costs for consumers and businesses.
Trump turns to containing the fallout from setbacks in Iran
The current approach — an economic choke hold on Iran — is being led by Treasury Secretary Scott Bessent.
Treasury Wine Estates profit slides as US business reset weighs on year
Luxury demand for Treasury Wine Estates brands such as BV, Frank Family and Daou showed resilience, but lower volumes, weaker margins and the U.S. supply chain overhaul pressured fiscal-year results.
4 things to know about Treasury’s repeal of reporting requirement for US businesses
The Treasury Department this week officially repealed a requirement for American companies and individuals to report beneficial ownership information (BOI), a move with sweeping implicati…
Treasury changes rules for businesses reporting ownership
The Biden-era regulation was intended to prevent money laundering, but critics said it was overly onerous.
Treasury Wine hurt by weak Americas business, posts 42% drop in annual profit
Australia's Treasury Wine Estates reported a 41.5% drop in full-year underlying profit on Thursday, weighed by weaker earnings from its Americas division.
Treasury Department repeals Biden-era reporting requirement for US businesses
The Treasury Department on Tuesday officially repealed a requirement for American companies and individuals to report beneficial ownership information to its Financial Crimes Enforcement Network (F…
U.S. Businesses No Longer Face Corporate Transparency Act Reporting
A final rule from the U.S. Treasury eliminates reporting requirements for U.S. companies and persons under the Corporate Transparency Act, which remains on the books.
Treasury ends ownership reporting rules for U.S. companies
The rules, intended to combat money laundering and other financial crimes, imposed an undue burden on American businesses, Treasury Secretary Scott Bessent said.
Treasury Wine announces $395 million charge tied to US supply chain revamp
Australia's Treasury Wine Estates said on Monday it expects to take an additional A$558.4 million ($394.5 million) post-tax charge in 2026 related to the write-down of U.S.-based assets and brands.
Transfer of student-loan accounts to Treasury takes key step forward
The Treasury announced new steps to take over the management of defaulted student loans, including a partnership with new collection vendors.
Senators press Treasury for answers on plans for Harriet Tubman $20 bill
Treasury Secretary Scott Bessent revealed earlier this month the department had abandoned plans to put Harriet Tubman’s image on the new $20 bill
NJ panel punts vote on health insurance increases for school workers
The state panel that sets healthcare rates for school workers delayed a decision Monday in anticipation of input from the state Treasury.
Strategy buys preferred stock in past week instead of bitcoin, hit to business model signaled
Strategy (MSTR) was trading higher as the bitcoin treasury company announced a repurchase of its preferred stock instead of buying bitcoin in the past week.
Edgewater Candles Expands, Scent Queens Rebrands And More Far North Side Business News
Scent Queens will change its name to The Midnight Treasury when its second store opens this summer in Andersonville. Also new on Clark Street: Homebird, which sells everything from soap to throw pillows.
TECfusions, a Rapidly Growing Developer and Operator of AI-Ready Data Centers and Power Infrastructure, Signs Business Combination Agreement with Apex Treasury Corp.
TECfusions is positioned where accelerating AI data center demand meets a scarcity of power-secured capacity. Company ethos centered on the fusion of ‘Technology, Environment, Community’ focuses on delivering AI-ready capacity while advancing environmental redevelopment and local community outcomes. Unique adaptive reuse strategy designed to convert legacy industrial sites into AI-ready, power-enabled data center infrastructure, accelerating deployment in power-constrained markets. The Transacti
Bessent says Treasury tracked down ayatollah's 'money man,' plans to expose linked properties
Scott Bessent says Treasury has found the ayatollah's "money man" and is tracking over $100 million in properties linked to Iran's supreme leader.
Treasury Secretary: The US could sanction Chinese AI companies
Treasury Secretary Scott Bessent said the Trump administration is looking into whether Chinese open source AI models were built on stolen IP.
US Treasury's Bessent tells Fox Business 50% Canada tariffs are 'reciprocity'
U.S. Treasury Secretary Scott Bessent said on Tuesday that the 50% tariffs on a range of imports from Canada were "reciprocity" for trade actions by Ottawa on U.S. dairy, alcohol and beverages.
Bessent says China's Iranian oil purchases have decreased- Fox Business
U.S. Treasury Secretary Scott Bessent said on Tuesday that there has been a substantial decrease in China's purchases of Iranian oil.
Treasury intercepts nearly $99M in federal payments to deceased individuals under Trump fraud order
A new Treasury fraud verification system screened 885 million transactions worth $2.77 trillion, catching over 4,900 improper payments to deceased recipients.
Trump administration races to rebuild tariff wall knocked down by Supreme Court
The U.S. Treasury last year swelled with revenue from President Donald Trump’s double-digit taxes on imports from almost every country on earth. But the money dried up after the Supreme Court struck down the biggest and boldest of Trump’s tariffs in February. The question now is: Can the president’s trade team make good on its promise to replace the lost revenue?
Exclusive | Top Treasury Tax Official Ousted After Clashes With White House Over IRS Audits
Kenneth Kies warned that political officials risked breaching a law that limits who can influence tax enforcement.
U.S. Mint making $1 gold-colored coin with Trump's image
The coin commemorates the country’s 250th anniversary and honors "the enduring legacy of liberty and a lasting symbol of patriotism,” Treasury Secretary Scott Bessent said
U.S. Mint making $1 gold-colored coin with Trump's image
The coin commemorates the country’s 250th anniversary and honors "the enduring legacy of liberty and a lasting symbol of patriotism,” Treasury Secretary Scott Bessent said
Velocity Raises $38 Million as Stablecoins Reshape Mainstream Business Finance
Velocity raised $38 million in a Series A funding round to expand its stablecoin payments and treasury platform designed for global enterprises, according
Penny Wise: Businesses Adapt to Cent Stoppage
The US Treasury stopped minting pennies, so how are local businesses adapting to the imminent extinction of the little red cent?
Treasury secretary talks Trump Accounts and state of economy
Scott Bessent spoke Monday with Spectrum News.
Trump posts new image of $100 bill with his signature
President Donald Trump posted a new image Friday of a $100 bill bearing his signature, months after the Treasury Department announced that, for the first time, a sitting president’s signature would be featured on US paper currency.
Scott Bessent goes after the top Mexican cartel’s new billion-dollar business: gas stations
Treasury sanctioned two men and nine firms tied to a Jalisco cartel fuel-theft ring that reportedly nets tens of millions a year across 21 Mexican states.