Treasury

The US plans to roll out unprecedented economic measures against Iran, according to Treasury Secretary Scott Bessent. This move is described as intensifying the Trump administration’s effort to compel Tehran's capitulation through financial pressure. Bloomberg detailed these emerging plans via Stuart Livingstone-Wallace.

Rep. John Larson faced a primary challenge from Mayor Luke Bronin and other candidates including Jillian Gilchrest and Ruth Fortune. During a committee markup on legislation, Larson confronted his colleagues by yelling accusations about whether they would follow the dictates of Elon Musk and Donald Trump.

The Treasury Borrowing Advisory Committee warned that the government faces a $1.45 trillion funding shortfall in fiscal 2027–28. To finance a roughly $2 trillion annual deficit, Scott Bessent leaned heavily on cheaper short-term rates today, which exposes the government to inflation and rising interest costs. Experts also warn of potential strain due to anticipated converging waves of long-term supply from both Treasury and the Federal Reserve.

UK Prime Minister Andy Burnham appointed John Healey as chancellor of the exchequer, a move seen as a calculated risk. Healey's ability to use his Treasury knowledge, pursue a pro-growth agenda, and balance defense spending could lead to a structural economic shake-up.

The article discusses the need to address mistrust between the Treasury and other entities, highlighting that public investment policies take time to reflect in GDP, as demonstrated by the example of Manchester.

The Trump administration supported Japan's yen strengthening to align with its trade agenda, as a stronger yen may reduce Asian supply chain competitiveness and improve the US trade balance. The intervention, involving euros instead of dollars, could pressure Japan for trade concessions, though the Treasury has not explained this unusual method.

Acting Attorney General Todd Blanche submitted a written assurance that the administration’s $1.8 billion 'anti-weaponization' fund is rescinded, securing support from Senate Judiciary Committee Republicans John Cornyn and Thom Tillis for his nomination. The memo addressed concerns about the fund's potential use for pardoned Jan. 6 defendants and clarified limitations on an IRS settlement agreement involving Donald Trump.

The UK government's corporate finance adviser, UKGI, admitted that an employee left an internal file with officials' contact details publicly accessible for 40 hours. The breach was disclosed in UKGI's annual report, and the incident was reported to the Information Commissioner's Office. An external review recommended security improvements, most of which have been implemented or are pending.

Labour politicians propose a mutualized model to transfer control of failing water companies to the public without adding government debt. This comes amid ongoing debate over nationalising Thames Water.

Two Brooklyn, New York, residents pleaded guilty to stealing $750,000 in gold from a Granville man through a Treasury impersonation scam.

A 26-year-old Treasury worker died by suicide a day after a meeting about an anonymous complaint from a colleague, which left her fearing job loss, according to an inquest. The incident highlights workplace stress linked to the complaint.

Amazon-owned Zoox has received federal approval to launch paid robotaxi rides with purpose-built autonomous vehicles. U.S. mortgage rates reached a 12-month high of 6.66%, slowing the housing market. Louisiana is implementing a new online WIC benefits system to improve access and convenience.

Brazil's federal audit court found irregularities in 82% of 100 sampled Pix amendments, flagging R$49 million (US$9.6M) in potential damage to the treasury.

Hundreds of veterans have been ordered to repay tens of thousands of pounds to the Treasury due to a pension error. The issue involves financial discrepancies requiring veterans to return funds.

Chancellor John Healey pledged the UK will meet defense commitments to allies. He was appointed as Chancellor by Prime Minister Andy Burnham after resigning under Sir Keir Starmer over military funding.

UK Prime Minister Andy Burnham faces economic challenges including a sluggish growth rate and public sector debt. He announced scrapping a home electricity tax to ease cost-of-living pressures, funded by canceling a digital ID plan, while balancing investor demands for debt reduction.

Britain's new Prime Minister Andy Burnham faces challenges in reinvigorating a slow-growing economy, addressing high cost of living and public sector debt. He has announced scrapping a home electricity tax and canceled digital ID plans to fund the move, while appointing John Healey as Treasury chief to manage debt reduction.

Andy Burnham, Britain's new prime minister, faces challenges in addressing the slow-growing economy and high public debt. He announced scrapping a tax on home electricity to ease cost-of-living pressures, funded by canceling digital ID plans, while balancing fiscal constraints and new defense spending commitments.

The Treasury stopped nearly $100 million in taxpayer funds from being sent to deceased individuals after implementing a new government measure. Over 4,900 payments linked to deceased payees were identified.

Andy Burnham's new Cabinet replaces Keir Starmer's allies with figures from Labour's mainstream wings, including John Healey as chancellor and Ed Miliband as foreign secretary. The reshuffle emphasizes Burnham's focus on domestic priorities and economic stability.

Incoming prime minister Andy Burnham plans to establish a beefed-up control centre in Downing Street to reduce reliance on the 'imperial' Treasury. The move aims to restore confidence in government.

The Trump administration, through three major bank regulators, is issuing new guidance to address credit risk from borrowers in the U.S. illegally. The guidance emphasizes banks' obligations to assess repayment capacity and monitor risks tied to unauthorized borrowers, aligning with an executive order from May 2017 requiring stricter scrutiny of customer citizenship.

Trump threatens to 'decimate' Iran if it attempts to assassinate him, stating 1,000 missiles are 'locked and loaded.' The Treasury has sanctioned an alleged Iranian financier.

Senator Dave McCormick and Senator John Fetterman highlighted 'Trump Accounts,' a program providing $1,000 Treasury seed funds for children born between 2025 and 2028, and $250 for lower-income children under ten. The initiative, part of the Working Families Tax Cuts Act, aims to give Americans a stake in economic prosperity through philanthropy-funded investments.

Reform is concerned about new claims regarding Nigel Farage's funding arrangements. The article also discusses potential actions by Andy Burnham's future government, including Treasury reforms and an autumn budget, as well as Burnham's foreign policy vision explored with adviser Jim O’Neill.

BONK's treasury faced a $20 million drain after an attacker spent $4 million to pass a malicious proposal. The incident highlights vulnerabilities in the system's governance mechanisms.

The article discusses how Europe would handle defense without American support, covers HSBC's private credit exposure, and mentions Burnham's opposition to splitting the Treasury.

Andy Burnham has ruled out splitting the Treasury to avoid disruption. He is rethinking Britain’s economic levers to promote regional growth.

Andy Burnham believes he has all the answers, but the Treasury is expected to oppose his plans. The article highlights a potential conflict between Burnham and the Treasury over policy initiatives.

Nicholas Stern, a former chief economic adviser to the Treasury, urged Andy Burnham to appoint Ed Miliband as chancellor, citing his bold vision and experience to revive the economy. Stern emphasized Miliband's strategic capability to accelerate investment and rebuild public trust in governance.

Burnham is advocating for a devolution initiative to enhance the Treasury's northern outpost, while some MPs criticize the Darlington campus as being underutilized.

Starmer faces backlash over the defense investment plan, which critics argue is underfunded and diverts resources from road projects. A defense minister defended the plan, stating it is common for governments to defer part of the funding explanation until the autumn budget.

Lucy Powell, Labour deputy leader, suggests Ed Miliband would be a good chancellor for Andy Burnham, though she criticizes cabinet post speculation as 'unedifying'. Some in Burnham’s team acknowledge the move could be politically risky.

The Treasury faces criticism for increasing defense funding by only £1bn under a plan to replace destroyers with drones. Critics argue the boost is insufficient given the proposed shift in military strategy.

The article discusses a delayed military plan prioritizing drones over new destroyers for an ageing fleet. It also mentions the new Defence Secretary securing an additional £1 billion from the Treasury.

Mistrust between the UK Treasury and the Ministry of Defence (MoD) is hindering UK defence efforts. Resolving the impasse between the two departments is described as urgent.

Reeves may accept a junior cabinet role if Burnham offers it, though she has not confirmed. Senior officials plan to lobby Burnham to revive 'war bonds' for defense spending, despite Treasury opposition. Reeves emphasizes fiscal rules allowing flexibility for capital investments, including defense, and highlights NATO cooperation for cost efficiency.

Brazil’s central bank cut rates on June 17 while warning about rising inflation, causing investor confusion and demands for higher returns. The Treasury later canceled an inflation-linked bond auction on June 22, reflecting market turmoil.

Over 40 progressive economists have written to Unite leader Sharon Graham to reject her claim that Ed Miliband would destroy jobs if he becomes chancellor. The letter comes amid a Labour Party debate about who will succeed Rachel Reeves at the Treasury, with Miliband considered a frontrunner.

Chief Minister Vijay's claim about recovering misappropriated party funds from the previous regime caused a storm in the Tamil Nadu Assembly, leading to protests from the DMK and an Opposition walkout.