Washington Financial News

Grayscale Investments LLC moved closer to launching a spot-based bitcoin exchange-traded fund in the U.S., a potential watershed moment in the cryptocurrency industry’s quest to tap billions of dollars from everyday investors.

Seychelles made an emergency landing in Saudi Arabia before flying back to Tel Aviv on Tuesday, in what Israel praised as a sign of goodwill as Washington works to establish formal relations between the two countries. The Air Seychelles flight carrying 128 passengers was forced to land Monday because of an electrical malfunction. Israel's Foreign Ministry said the passengers spent the night at an airport hotel in Jeddah and were flown back by the airline on an alternate plane. Passengers described a frightening stretch of time as an acrid burnt smell filled the cabin and the pilot came over the intercom to say the plane would be forced to make an emergency stop in Saudi Arabia, a kingdom with which Israel has no air links or diplomatic ties. With dozens trapped on board and the plane idling on the tarmac, tension grew, passengers said, while Israeli officials scrambled to figure out what to do.

House Majority Leader Steve Scalise of Louisiana, a prominent figure in the Republican Party, unveiled on Tuesday that he has been diagnosed with multiple myeloma, a form of blood cancer that he described as «very treatable.» This revelation has cast a spotlight on Scalise's resilience as he embarks on a new chapter of personal and professional challenges. Diagnosis and Determination The No. 2 ranking House Republican shared the news of his diagnosis after experiencing a bout of unusual health symptoms. Following blood tests and comprehensive medical evaluations, Scalise received the diagnosis of multiple myeloma, which he reassured is a form of blood cancer that is highly amenable to treatment. Scalise remarked, «I am incredibly grateful we were able to detect this early and that this cancer is treatable.» This sentiment was echoed by the strong resolve he displayed, affirming his commitment to serving as the majority leader when lawmakers convene in Washington this coming September.

Biden administration weakens water protections in response to Supreme Court ruling that curtails federal power

Businesses posted far fewer open jobs in July and the number of Americans quitting their jobs fell sharply for the second straight month, clear signs that the labor market is cooling in a way that could reduce inflation

WASHINGTON (Reuters) -U.S. aviation regulators have issued an updated directive regarding a cracking issue with all of Boeing (NYSE:BA)'s 777 model airplanes, according to a notice posted online on Tuesday.

By Hannah Lang

consumer confidence fell more than expected in August after two straight monthly increases amid renewed concerns about inflation, a survey showed on Tuesday. The Conference Board said its consumer confidence index dropped to 106.1 this month from a downwardly revised 114.0 in July. Economists polled by Reuters had forecast the index retreating to 116.0 from the previously reported 117.0.

Diabetes drug and blood thinner Eliquis among first 10 targeted for price negotiations in effort to cut Medicare costs

Many leading media companies have taken a stance against allowing artificial intelligence (AI), like OpenAI’s ChatGPT, into the newsrooms, and have withheld permission for AI to scan their content on the web. 

The top Chinese official in charge of economic relations with Washington has told Commerce Secretary Gina Raimondo he's ready to “make new positive efforts” to improve cooperation following an agreement to reduce trade tension

Investing.com -- U.S. stock futures edge up as traders look ahead to key economic data and new company results this week. Elsewhere, Google reportedly eyes plans to sell its mapping data to companies building renewable energy products, while Mark Zuckerberg, Elon Musk and other tech industry leaders are invited to Washington for a forum discussing the possible pitfalls of generative artificial intelligence.

Eric Schmidt. The closed-door gathering is the first of the AI Insight Forums by Schumer and is part of his plan to give the Congress more control over the future of AI.

Gina Raimondo's visit to China is putting a spotlight on the future of TikTok in the United States, where criticism of the app and its ties to Beijing reached a fever pitch this year. Despite the intense pressure on the popular short-form video app, which is owned by Chinese technology company ByteDance, efforts to ban or regulate it in Washington have not borne fruit. And even with all that scrutiny, Raimondo is not planning to discuss TikTok while in China, a glaring omission that reflects the impasse at which it has left the Biden administration. The administration has been stymied by how to deal with TikTok even as intelligence officials have warned that it poses a national security threat.

That sobering view of a post-pandemic global economy emerged from research organized by the Kansas City Federal Reserve and debated here this past weekend. It explored issues like the outlook for technological innovation, public debt, and the state of international trade at a time when the Russian invasion of Ukraine and conflict between the U.S.

President Joe Biden’s administration is set to announce the first prescription drugs being targeted by the U.S. government for price negotiations as part of an effort to lower Medicare costs

G20 Summit in New Delhi, US President Joe Biden will commence his one-day visit to Vietnam on September 10. He will travel to Hanoi, the Vietnamese capital, to meet with General Secretary Nguyen Phu Trong and other leaders.

By Arriana McLymore

By Steve Holland and Jarrett Renshaw

As worker actions continue from Hollywood to Detroit, and new labor unions crop up nationally, the White House on Monday was highlighting its effort to bolster worker organizing throughout the U_S_ President Joe Biden is counting on critical labor supp...

Donald Trump’s legal woes are mounting just as the race for the 2024 presidential election heats up. The former president, who’s campaigning for another term in the White House, potentially faces as many as six criminal and civil cases in the next year, including lawsuits against him, his family and companies.