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EXPLAINED: 14 - The Real Truth

Trump Says He Took Venezuela's Oil. Here's What Actually Happened.

Trump put Venezuelan revenues in a secretive bank account overseen by the U.S. government. It's a display of the Treasury's unaccountable power.

Reason

Scott Bessent Declares America's Economic Gap 'Over' as Broader Data Paint a More Mixed Picture

Economists say wages tell only part of the story, with wealth, spending and financial resilience still favouring higher-income households.

International Business Times UK

U.S. and Japan Team Up for Rare Coordinated Intervention to Halt Yen's Slide

Meta description: "The U.S. and Japan made a rare joint bet to rescue the sinking yen — here's what's driving it, and what could unravel it."

Latin Times

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The Trump administration has doled out $100 billion in tariff refunds, but Americans are suing U.S. companies for not seeing a penny of the returns

Customers of Five Below, Sony, and Nintendo have filed class action lawsuits demanding they receive refunds from the struck-down import taxes.

Fortune

Trump will sell a Hormuz deal as a success. It barely takes him back to where he started

IN FOCUS: The US and Iran have fought over the Strait for months, deepening a global economic crisis. Experts tell Alex Croft that Trump may end up accepting key Iranian demands just to end an unpopular war

The Independent UK

US to expand incentives for employers offering paid family leave

The US Treasury Department will announce new guidance expanding employer paid family leave incentives. This policy centers on an expansion of a paid leave tax credit created in 2017. The guidance allows employers to claim credits if they pay insurance premiums for leave. The United States is the only OECD…

The Economic Times

Scott Bessent just declared the K-shaped economy is over, saying he’s ‘sick of hearing about’ it—but the data would beg to disagree

"I can say here definitively, the K-shaped economy is over."

Fortune

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Global Market: Bessent's BOJ comments raise expectations of September rate hike, spark independence concerns

US Treasury Secretary's comments boost expectations for a Bank of Japan rate hike. Market watchers anticipate a potential increase at the September policy meeting. This follows a joint currency intervention aimed at supporting the Japanese yen. The Bank of Japan faces increasing pressure to tighten monetary policy. Future meetings will…

The Economic Times

Stock Market Today: S&P 500, Dow Futures Gain After Scott Bessent Signals Strait of Hormuz Deal With Iran in Sight— AMD, SpaceX, SanDisk in Focus (UPDATED)

(Editor’s note: The ETFs data was updated and economic data was added.)

Benzinga

Hormuz Deal Near? CENTCOM Says Southern Shipping Route Remains 'Free and Open' as Trump Touts 'Very Good' Discussions

The U.S. military said the Strait of Hormuz remains open to commercial shipping, as Treasury Secretary Scott Bessent stated that Washington is close to reaching a deal with Iran.

Benzinga

Iran-US war latest: Trump claims Strait of Hormuz is ‘sort of open’ and predicts Tehran will seek peace soon

US president tells reporters in Oval Office: 'I don't think they [Iran] can go much longer'

The Independent UK

Scott Bessent Touts 'Strong Relationship' Between Trump, Takaichi as Reports Emerge Japan PM Asked BoJ to Buy Bonds

Japan’s Prime Minister Sanae Takaichi reportedly urged Bank of Japan Governor Kazuo Ueda during a meeting in May to purchase Japanese government bonds if necessary to curb rising long-term interest rates.

Benzinga

Why is market rising today? Sensex jumps over 400 pts, Nifty above 24,600. 8 factors behind D-St rebound

The Indian stock market saw a rebound on Wednesday, with Sensex and Nifty 50 trading higher. Easing oil prices and strong foreign institutional investor buying boosted investor sentiment significantly. Bharti Airtel and IndiGo shares led the gains, while Titan experienced a slight decline. Broader markets also performed well, with midcap…

The Economic Times

Yen finds footing after intervention, dollar near 6-week low on Mideast hopes

Currency markets took a breather as the Japanese yen gained traction, influenced by recent intervention measures. Meanwhile, the U.S. dollar index lingered near its six-week lows, buoyed by positive developments in the Middle East. Falling oil prices alleviated concerns about potential supply disruptions, leading traders to adjust risk premiums and…

The Economic Times

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The Economic Times

US Iran war: Qatar says mediators make progress; Indian ship sinks in the Middle East

Mediators report progress in efforts to end the US-Iran war, which has driven oil prices lower. Qatar's Emir discussed de-escalation efforts with President Trump, stressing the importance of dialogue. Senior US officials expressed optimism about reopening the Strait of Hormuz shipping lanes soon. However, shipping risks remain as a vessel…

The Economic Times

'Hormuz deal with Iran today' Oil slips below $80 on truce hope

Oil prices experienced a significant decline on Tuesday, falling over five percent. Hopes for a diplomatic resolution to the West Asia conflict emerged. This potential resolution could improve oil flows through the Strait of Hormuz. Talks are underway with Iran to reopen the vital shipping lane. Regional officials also discussed…

Fortune

Scott Bessent is using moves from his hedge fund days to prop up Japan's yen—and America's $40 trillion national debt

The man who once shorted currencies is now propping them up. “He takes risks that other Treasury Secretaries over the past two generations wouldn't.”

Fortune

Bessent's Yen gamble is a warning sign — buckle up

Fasten your seat belts: Treasury Secretary Scott Bessent has become a Big Player in the yen market. Increased volatility is right around the corner.

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The Economic Times

Iran, Oman near Hormuz reopening deal as talks advance

Iran and Oman are making progress on a deal to reopen the Strait of Hormuz. This potential agreement involves shared control and service fees for maritime passage. US officials confirm talks are ongoing but not yet finalized. President Trump stated this is Iran's last chance to avoid escalation. A cargo…

Evening Standard

Miners prosper while oil drops on new Middle East peace hopes

The FTSE 100 index closed up 21.68 points, or 0.2%, at 10,879.38.

International Business Times

Stocks Keep Climbing On Hopes Of Iran Deal And Strong Corporate Results. The S&P 500 Reaches a New Record

The S&P reached a new record high on Tuesday on hopes of a deal to reopen the Strait of Hormuz and renewed appetite for tech stocks.

Benzinga

Scott Bessent Signals Imminent US-Iran Deal to Reopen Strait of Hormuz, Sending Oil Lower: 'We May Have a Deal Today or Tomorrow...'

U.S. Treasury Secretary Scott Bessent signalled the U.S. and Iran could reach an agreement as early as Tuesday or Wednesday to reopen the Strait of Hormuz, restoring free passage for commercial shipping.

International Business Times

Scott Bessent Said a Deal To Reopen The Hormuz Strait Could Be Reached Within Hours. Oil Is Declining Again

U.S. Treasury Secretary Scott Bessent expressed optimism about the possibility of reaching a deal that will see the reopening of the Hormuz Strait in the next hours.

The Guardian - UK

Rubio hopes US can reach Hormuz deal with Iran ‘very shortly’ as officials say progress has been made – as it happened

US secretary of state comments come after treasury secretary, Scott Bessent, said Washington could reach a deal ‘by tomorrow’

The Economic Times

US Treasury Secretary Scott Bessent suggests Federal Reserve could consider raising FIMA liquidity facility

US Treasury Secretary Scott Bessent suggested increasing a key emergency liquidity facility. This facility helps stabilize the Japanese yen amid market volatility. Global bond markets have significantly expanded since the mechanism was created. The FIMA repo facility allows foreign central banks to exchange Treasuries for dollars. This tool protects the…

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