Washington Financial News

WASHINGTON (Reuters) — The U.S. has bought 1.2 million barrels of oil to help replenish the Strategic Petroleum Reserve after selling the largest amount ever from the stockpile last year, the U.S. Energy Department said on Monday.

By Moira Warburton and Ted Hesson

The foolish immigration policies of Prime Minister Justin Trudeau’s Liberals and their NDP backers have burdened Canada’s health-care system, inflated housing costs and are now starting to annoy Washington.

By David Shepardson

By Steve Holland and Nandita Bose

fire after three people tried to break into an unmarked Secret Service vehicle in Washington, a law enforcement official told The Associated Press. The officials said that the incident happened late Sunday when the agents were out with Naomi Biden, the granddaughter of Joe Biden, in Washington's posh Georgetown neighborhood. There, the agents saw the three people breaking a window of the parked and unoccupied SUV, the report quoted officials as saying.

Mike Johnson might have acquired the seat and the gavel, however, disciplining the conservative Republican hardliners seems like the herculean tasks his predecessor faced. The economy of United States faces yet another threat of shutdown, amid the US funding Ukraine and Israel in their war with Russia and Hamas respectively.

WASHINGTON—The Biden administration’s abrupt shift on global technology rules has weakened a critical Asia trade agreement that was intended to help counter China’s growing clout in the region. Rules facilitating digital trade, including the cross-border transfer of data on customers and supply chains, were expected to be a centerpiece of what is called the Indo-Pacific Economic Framework, or IPEF, a U.S.-led group of 14 nations. But the U.S.

Stocks kicked off the week with losses after posting big gains this month, with traders awaiting key inflation data, remarks from United States Federal Reserve speakers and results from some giant retailers.

WASHINGTON (Reuters) — The White House said Monday it is issuing a new strategy and presidential memorandum that aims to free up additional wireless spectrum for advanced technology needs and soaring U.S. wireless demand.

Secret Service agents protecting President Joe Biden's granddaughter opened fire after three people tried to break into an unmarked Secret Service vehicle in the nation's capital, a law enforcement official told The Associated Press. The agents, assigned to protect Naomi Biden, were out with her in the Georgetown neighborhood late Sunday night when they saw the three people breaking a window of the parked and unoccupied SUV, the official said. The official could not discuss details of the investigation publicly and spoke to the AP on Monday on the condition of anonymity. One of the agents opened fire, but no one was struck by the gunfire, the Secret Service said in a statement.

Investing.com -- Shares in Boeing (NYSE:BA) rose in premarket U.S. trading on Monday after Bloomberg News reported that China is mulling potentially resuming purchases of the planemaker's fast-selling 737 Max jets.

By Tom Polansek

By Trevor Hunnicutt

By Hannah Lang

$553 million investment from the United States government for its West Container Terminal in Colombo, Sri Lanka, Karan Adani, CEO of Adani Group told reporters Adani Ports is eyeing further “opportunities in our neighboring countries", Bloomberg reported. Speaking to reporters in Colombo Adani also said the US financing, backed by the International Development Finance Corporation, is a "reaffirmation" of international support for the Indian conglomerate's companies. According to Adani, the neighbouring countries include potential ventures in Bangladesh, Vietnam, and Tanzania, besides the existing plans in Sri Lanka and Israel.

Karan Adani boasted that a newly inked $553 million US government financing deal toward a port terminal being developed by his family’s conglomerate was a “reaffirmation by the international community.” The announcement marked a welcome reprieve for India’s Adani Group following a damaging short-seller attack and a number of corporate fraud allegations leveled against it this year. It also signaled Washington’s endorsement for the port empire owned by Karan’s father and billionaire Gautam Adani — seen as a close ally of Prime Minister Narendra Modi — that would help curb China’s maritime influence in the Indian ocean. Those waters account for more than one-third of the world’s bulk cargo traffic and two-thirds of oil shipments. Chakri Lokapriya, chief investment officer at TCG Asset Management Co. in Mumbai, called Adani’s port ambitions a “strategic” play, assisting India to counter China’s own string of ports in its backyard, stretching from Sri Lanka to Pakistan. Now Adani Ports and Special Economic Zone Ltd., seen as the conglomerate’s crown jewel, is eyeing further “opportunities in our neighboring countries,” Karan Adani, the operator’s chief executive officer, told Bloomberg News in the Sri Lankan capital. Those include potential ventures in Bangladesh, as well as East African and Southeast Asian nations, including Tanzania and Vietnam, adding to its existing Sri Lanka and Israel developments, he said. In a world that’s “looking beyond China — it is indeed a Chinese-styled expansion by Adani,” said Sanjiv Bhasin, director at Mumbai-based IIFL Securities Ltd.

It’s pedal to the metal for KKR’s dealmakers, who are chasing another local infrastructure asset, or two, to park in their portfolio alongside TransGrid-owner Spark Infrastructure.

WASHINGTON (Reuters) — Five U.S. service members were killed in a refueling accident during training that caused the aircraft carrying them to crash into the Mediterranean Sea, the U.S. Defense Department said in a statement on Sunday.

So when Washington and Beijing do economic battle, as they have for five years running, the rest of the world suffers, too. And when they hold a rare high-level summit, as Presidents Joe Biden and Xi Jinping will this week, it can have global consequences. The world's economy could surely benefit from a U.S.-China detente.

For now, the agency has maintained its Aaa rating on US government debt. The US Treasury immediately voiced its disagreement with Moody's decision. «The American economy remains strong, and Treasury securities are the world's preeminent safe and liquid asset,» Deputy Secretary of the Treasury Wally Adeyemo in a statement. «The Biden Administration has demonstrated its commitment to fiscal sustainability, including through the more than $1 trillion in deficit reduction included in the June debt limit deal as well as President Biden's budget proposals that would reduce the deficit by nearly $2.5 trillion over the next decade.» The US budget deficit, published last month for the 2023 fiscal year ending September 30, has widened to $1.7 trillion. Due to interest rate hikes by the US central bank to curb inflation, the cost of debt for the United States has ballooned, with Washington paying $162 billion more for interest in the last fiscal year compared to 2022.