City Washington Financial News

President Joe Biden on Friday welcomed leaders from countries across the Americas to an economic summit by pledging to increase U.S. investment in the region in part to counter China’s influence

The conviction of former cryptocurrency mogul Sam Bankman-Fried for stealing at least US$10 billion from customers and investors is the latest black mark for the cryptocurrency industry, but in Washington, there seems to be little to no interest in pushing through regulation.

By David Brunnstrom

Israel did not stop its assault on Gaza then the conflict could widen into a regional war. Sayyed Hassan Nasrallah, in his first speech since the Israel-Hamas war erupted on Oct. 7, also threatened the U.S., Israel's main ally, hinting his Iran-backed paramilitary group was ready to confront U.S.

By Daphne Psaledakis and Timothy Gardner

Treasury Secretary Janet Yellen says Washington wants to build an economic relationship with Beijing that takes into account national security and human rights and is fair to both sides

United States since mid-October was discovered alive on a Canadian fishing boat, approximately 70 miles off the coast of Washington. The Coast Guard took to X to announce the discovery of one of the two men.

Shein, known for its ultra-affordable clothes shipped from China, is enlisting top Western executives in its quest to go truly global. The China-founded retailer, which has become increasingly entangled in Beijing-Washington friction, has started making some of its products outside China and forged partnerships with Western brands. Now it is globalizing its leadership ranks as it looks to establish itself in its biggest markets, especially the U.S.

By Jack Queen

United States accused Russian President Vladimir Putin Tuesday of trying to use the Israel-Hamas war to reduce Western support for Ukraine, which it said requires continued backing from Washington to prevent Russian success. Hamas militants carried out a shock cross-border attack from Gaza this month that Israeli officials say killed more than 1,400 people, prompting Washington to rush military aid to Israel and sparking fears in Kyiv that backing for its war against invading Russian forces could suffer. «Putin is very much trying to take advantage of the Hamas attack on Israel in the hopes that it will distract us… and that it will result in the United States pulling back its resources» from Ukraine, US Secretary of State Antony Blinken told a Senate hearing on supplemental national security funding. Defense Secretary Lloyd Austin warned during the same hearing that Putin will succeed in his bid to seize Ukrainian territory if the United States halts support for Kyiv. «I can guarantee you that without our support, Putin will be successful,» Austin said.

President Joe Biden has signed a sweeping executive order to guide the development of artificial intelligence

By Jack Queen

Wang Yi said the path to a meeting between President Xi Jinping and Joe Biden was «not smooth», state media reported as the top diplomat wrapped up a rare visit to Washington. Wang met with Biden and other senior US officials this week, with both sides agreeing on Friday to set up a meeting between the leaders next month. Biden has invited Xi to San Francisco in November for the Asia-Pacific Economic Cooperation (APEC) summit at a time of tense relations between the two powers.

United States and China have agreed to work together toward an expected summit between presidents Joe Biden and Xi Jinping next month, U.S. officials said on Friday, following hours of meetings between Chinese foreign minister Wang Yi and senior U.S.

US regulators are finally discussing the subject of fiat-backed digital assets, popularly known as stablecoins.

Jon Cunliffe (pictured), is deputy governor of financial stability at the BAnk of England, a post he will leave at the end of October 2023 after ten years.

By Patricia Zengerle

The Federal Aviation Administration finally has a Senate-confirmed leader

This storm is anticipated to disrupt travel significantly in at least six states, according to AccuWeather. As of midday Tuesday, roughly 2.5 million residents are living in areas under some form of winter weather alert due to the storm, according to the National Weather Service. States affected include Washington, Oregon, Idaho, Montana, Wyoming, and North Dakota. Winter storm warnings and watches have been issued for sections of the Cascades and northern Rockies as the storm approaches. Meanwhile, tropical Storm Otis strengthened early Tuesday as it approached Mexico’s southern Pacific coast and was forecast to become a hurricane before making landfall near the resort of Acapulco late Tuesday or early Wednesday. The US National Hurricane Center said that Otis was about 155 miles (250 kilometers) south-southeast of Acapulco on Tuesday morning with winds of 70 mph (110 kph). It was moving north-northwest at 8 mph (13 kph). In the Atlantic, Hurricane Tammy has made landfall on the Caribbean's Barbuda as Category 1 hurricane.

By Kirsty Needham

China’s Foreign Minister Wang Yi will visit Washington on Thursday for high-level talks, the US state department has announced, as the two countries try to “responsibly manage” their fraught relations.