Washington Financial News

03.04 / 12:25

Saudi-Led Oil Producers to Lower Output Further

A group of large oil producers led by Saudi Arabia said Sunday they would cut more than a million barrels of output a day starting next month, a surprise move that upset Washington and led to a jump in crude prices amid concerns about the global economy.

03.04 / 11:31

In Croatia, U.S. Campaigned to Stop Chinese Bid on Key Port

RIJEKA, Croatia—On Rijeka’s waterfront, vast piles of scrap metal stretch for hundreds of yards, the byproduct of an ongoing construction project to renovate the port in the northern Adriatic Sea.

01.04 / 14:39

New EV Rules Mean Fewer Models Eligible for Tax Credit

WASHINGTON—The Biden administration detailed new criteria for an electric-vehicle tax-credit program, a change that officials said they expect will reduce the number of eligible models.

01.04 / 02:39

Blockchain Twitter Sport partnership Terra Terra’s branding at MLB opener draws attention from spectators

As baseball enthusiasts flocked to the Washington National Park for the Major League Baseball (MLB) opening day, Terra (LUNA) – the crypto ecosystem that collapsed in May 2022 – noticeable presence around the stadium didn’t go unnoticed.

31.03 / 15:11

UPS Waves Target Action SVB saga NOT San Francisco Fed leader Daly likely not a major player in SVB saga, officials say

San Francisco Fed President Mary Daly, whose district saw the second-largest bank failure in U.S. history and who has become a target of criticism, would not have typically been a key player in Silicon Valley Bank's supervision, several former and current fed officials told CNBC.

31.03 / 13:19

regulation Social Media Web3 marketing How a TikTok ban in the US could affect the crypto industry

On March 23, the world watched as United States lawmakers questioned TikTok CEO Shou Chew at a House Energy and Commerce Committee hearing in Washington. In the hearing, lawmakers grilled the CEO over suspicions that the Chinese government is gathering user data through the app.

31.03 / 13:17

New EV Rules Mean Fewer Models Eligible for Tax Credit

WASHINGTON—The Biden administration detailed new criteria for an electric-vehicle tax-credit program, a change that officials said they expect will reduce the number of eligible models.

31.03 / 08:53

White House Calls for Tougher Midsize Bank Rules

WASHINGTON—The White House on Thursday called for tougher rules for midsize banks after the collapse of two lenders earlier this month sent tremors through the banking system.

30.03 / 13:21

Remark SVB Janet Yellen to Say Bank Rules Might Have Become Too Loose

WASHINGTON—Treasury Secretary Janet Yellen plans to say that regulators might need to tighten banking rules after the collapse of Silicon Valley Bank and Signature Bank, arguing that the recent turmoil is a sign that efforts to bolster the financial system are incomplete.

30.03 / 11:51

Republican Budget Still Months Away, Complicating Debt-Ceiling Talks

WASHINGTON—President Biden said he needs to see House Republicans’ budget proposal to start negotiations related to raising the nation’s borrowing limit. House Republicans’ response: Not going to happen.

29.03 / 13:19

Kevin McCarthy Pushes for Debt-Ceiling Talks as Unity Eludes GOP

WASHINGTON—House Speaker Kevin McCarthy tried to prod President Biden into starting talks over spending cuts as a condition for raising the debt ceiling, just as Republicans are struggling to unite around a blueprint for negotiations ahead of dual deadlines later this year.

29.03 / 13:19

Deal Credit Suisse Violated Plea Deal in Tax Case, Senate Report Says

WASHINGTON— Credit Suisse Group AG violated the terms of a 2014 criminal plea agreement in which it promised to stop helping Americans hide assets from the U.S. tax authorities, according to a Senate report released Wednesday.

29.03 / 12:37

tax evasion Senate report says Credit Suisse failed to report bank transfers tied to tax evasion

WASHINGTON— Credit Suisse violated the terms of a 2014 criminal plea agreement in which it promised to stop helping Americans hide assets from the US tax authorities, according to a Senate report released on 29 March.

29.03 / 11:05

UPS Provident Digital Platform Jail Fried Sam FTX founder Sam Bankman-Fried facing up to 155 years in jail after new fraud charges announced

FTX founder Sam Bankman-Fried faced new fraud charges on Thursday, as prosecutors accused him of cheating thousands of investors out of billions of dollars while casting himself as a trustworthy "saviour of the cryptocurrency industry".

28.03 / 18:01

UPS CEO SVB Customers SVB customers tried to withdraw nearly all the bank’s deposits over two days, Fed's Barr testifies

The run on Silicon Valley Bank's deposits this month went far deeper than was initially known.

28.03 / 15:49

For Chip Makers, a Choice Between the U.S. and China Looms

WASHINGTON—Semiconductor companies seeking federal grants under the Chips Act could face a tough decision: take Washington’s help to expand in the U.S., or preserve their ability to expand in China.

28.03 / 10:41

Deal U.S. and Japan Strike Deal on Minerals Used in Batteries for Electric Cars

WASHINGTON—The U.S. and Japan reached a trade agreement for minerals used in clean-energy technologies, a deal aimed at allowing Japan to meet sourcing requirements for new electric-vehicle subsidies in the U.S. and shifting energy supply chains away from China.

28.03 / 10:41

Fed’s Barr Calls Silicon Valley Bank a ‘Textbook Case of Mismanagement’

WASHINGTON—The failure of Silicon Valley Bank demonstrates a “textbook case of mismanagement,” the Federal Reserve’s top banking regulator is expected to tell Senate lawmakers on Tuesday, while acknowledging there may have been shortcomings in the central bank’s oversight.

27.03 / 15:03

Provident Manufacturing Financial Semiconductor Firms Asked to Submit Financial Projections to Get Chips Act Funds

WASHINGTON—Semiconductor companies seeking U.S. grants under the Chips Act will be asked to provide detailed projections for revenue and profit from their new chip-making plants to help evaluate their applications, the Commerce Department said Monday.

27.03 / 13:49

regulation Time NOT Japan Set to Ask G7 & G20 to Bolster Crypto Regulation – And Not For the First Time

Japan is set to make another attempt to convince G7 and G20 leaders to adopt streamlined crypto regulations.

27.03 / 13:33

Digital Ripple G7 nations reportedly want tighter rules for cryptocurrencies

The International Group of Seven, or G7, is reportedly looking to impose tougher regulations on the crypto industry. The industrialized democracies will reportedly push for tighter regulation of the crypto sector, in the interest of consumer protection and greater business transparency.

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