Scott Bessent
Photo: United States Department of the Treasury, Public domain (Wikimedia Commons, cropped)
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- yesterday
US budget deficit widens 12% to $1.99 trillion in fiscal 2026 on interest and tariff refunds
Washington's fiscal 2026 gap grew to $1.99 trillion, with spending at $7.4 trillion and interest payments at a record $1.36 trillion despite Trump's pledged spending cuts.
- 3d ago
Bailey urges social media firms to tackle fraud as IMF warns on cyber risk in Bangkok
Speaking at the IMF and World Bank meetings in Bangkok, Bank of England Governor Andrew Bailey said social media platforms face too little liability for criminal content. IMF chief Kristalina Georgieva warned that cyber fraud is eroding trust in finance.
- 4d ago
US consumer prices rise 3.7% in September as gasoline jumps 9.1%
Energy costs linked to the war with Iran pushed US consumer prices up 3.7% from a year earlier, weeks before the 3 November midterm elections. The Federal Reserve now faces pressure to raise rates again at its 27-28 October meeting.
- 4d ago
Bank of America profit falls 17% after $1.2bn US money laundering fine
The US Treasury fined Bank of America $1.2 billion for failing to report more than $5 billion in suspicious transactions, and the penalty weighed on third-quarter results published the next day.
- 5d ago
Russia claims $320.7 billion in energy sales to EU since 2022; Brussels puts figure at $209 billion
Moscow says European countries bought $320.7 billion of Russian oil and gas since 2022, while the European Commission counts about €197 billion ($209 billion) through July 2026 and Sweden disputes the aid comparison.
- Oct 5
Reflection AI unveils 501-billion-parameter Beam model to rival Chinese systems
Nvidia-backed Reflection AI launched Beam, an open-weight 501-billion-parameter model aimed at matching Chinese competitors like Z.ai and DeepSeek at lower inference costs.
- Oct 5
Trump signs executive order permitting road vehicles to use tax-exempt red diesel
President Donald Trump signed an order in Grand Island, Nebraska, waiving federal penalties on highway use of agricultural dyed diesel through December 31 as fuel prices top $6 a gallon.
- Oct 4
OPEC+ maintains November oil output targets as Gulf conflict keeps crude above $100
Seven key OPEC+ producers agreed to keep November crude targets unchanged, as regional fighting and shipping disruptions in the Persian Gulf hold physical supply below official quotas.
- Oct 3
Iraq secures US sanctions waiver allowing 40 daily Iranian flights to Najaf
The United States approved an exemption allowing Iranian carriers to operate up to 40 daily flights to Najaf International Airport, restoring pilgrimage air routes halted by aviation sanctions.
- Oct 3
Trump rules out European diesel export ban and praises Italian premier Meloni
US President Donald Trump dismissed plans to ban diesel exports to Europe and described his relationship with Italian Prime Minister Giorgia Meloni as very good before departing on a campaign tour.
- Oct 2
US designates A7 shadow bank as criminal group and expands Iran sanctions
The United States has designated the A7 shadow banking network led by Ilan Shor as a criminal group and targeted Iranian rail, automotive, and metallurgy firms under Operation Economic Outcast.
- Oct 2
US blacklists Iran's top automakers and national rail operator in expanded sanctions
The US Treasury designated Iran's largest car manufacturers, state railway, and international suppliers on 1 October 2026, extending economic measures to land transport and manufacturing.
- Oct 1
Trump weighs US diesel export ban as fuel prices top $6.50 per gallon
President Donald Trump held emergency consultations on curbing American diesel exports to lower domestic fuel costs, facing pushback from oil producers and foreign allies.
- Sep 25
Donald Trump and Xi Jinping Meet at White House, Agreeing on AI Stance and Extending Trade Truce
US President Donald Trump hosted Chinese President Xi Jinping at the White House on Thursday for bilateral talks, reviewing artificial intelligence oversight, extending a tariff truce to January 10, and discussing regional tensions.
- Sep 24
US aviation sanctions strand Iranian flights as UN delegates clash in New York
New US sanctions targeting aircraft servicing led to widespread cancellations of Iranian flights, complicating the return of President Masoud Pezeshkian from the UN General Assembly while regional military strikes escalated.
- Sep 24
Trump greets Xi at Andrews Air Force Base and extends bilateral trade truce to January 2027
Chinese President Xi Jinping arrived in Maryland for a three-day visit featuring an unusual airfield greeting, as Washington and Beijing extended their tariff pause until 10 January 2027.
- Sep 23
US and China agree on $30B tariff cut and AI hotline as Xi concludes Washington visit
Donald Trump announced mutual tariff reductions on $30 billion in goods, an AI safety hotline, and upcoming bilateral summits following talks with Chinese President Xi Jinping in Washington.
- Sep 23
Machado blocked in three return bids to Venezuela as Rodriguez meets Trump in New York
Venezuelan opposition leader Maria Corina Machado failed in three attempts to return to Venezuela from Panama on 21 September, coinciding with talks in New York between interim President Delcy Rodriguez and US President Donald Trump.
- Sep 22
US weighs voluntary limits on diesel exports as pump prices hit $6.52
Energy Secretary Chris Wright contacted American refiners to discuss voluntary export reductions after diesel climbed to $6.52 a gallon ahead of the November midterms.
- Sep 21
US and China propose AI incident notification mechanism during trade talks in New York
Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer held eight hours of talks with Chinese Vice Premier He Lifeng in New York to establish an AI security channel and prepare for a presidential summit on 24 September 2026.
