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BIZARRE: 15 - You Need To See This

Qatar Says Efforts To Reach U.S.-Iran Deal Are 'Ongoing.' But There Are No Direct Talks On The Horizon

Qatar spokesperson Majed Al-Ansari said efforts to reach a deal between the U.S. and Iran are ongoing but there are no direct talks in the plans.

International Business Times

US hopeful of Hormuz deal within days as diplomacy with Iran gathers pace

The United States expresses hope for a deal with Iran to reopen the Strait of Hormuz soon. Treasury Secretary Scott Bessent indicated talks could yield an agreement today or tomorrow. This comes as a cargo vessel was struck in the vital waterway, highlighting security concerns. President Donald Trump warned Iran…

The Economic Times

Elon Musk Under Fire After GAO Audit Found Treasury Payment System User Was Granted Delete Access

A government audit reveals security lapses in a Treasury payment system during Elon Musk's brief leadership of DOGE.

International Business Times UK

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Global Market: US-Japan coordinated yen intervention raises pressure on bears, but BOJ policy holds the key

The first coordinated US-Japan yen-buying intervention in 15 years has triggered a sharp rebound in the Japanese currency, squeezing bearish positions. However, analysts believe lasting gains will depend on the Bank of Japan backing the move with interest rate hikes, as the US-Japan yield gap remains the key driver of…

The Economic Times

Yen holds gains after Japan, US confirm joint intervention, signal more action

Japan and the United States intervened jointly to support the Japanese yen currency. This rare action aimed to prevent further declines and global economic spillovers. Central bank data suggests Japan spent billions of dollars during the intervention. Officials vowed to take further coordinated action if needed to stabilize the yen.…

The Economic Times

America's 'weird' and 'unwise' intervention in the Japanese yen: 'The last thing you want is to give markets any kind of reason to ask questions'

Why did the Treasury sell euros to buy yen and come to the rescue of the flailing Japanese currency?

Fortune

The US Just Intervened in Japan’s Markets. Why Treasury Secretary Scott Bessent Says the Yen Crisis Might Not Be Over – ‘We Will Not Hesitate’

Behind the joint yen rescue operation, from FIMA to euros, and what it means for the Treasury market, the carry trade, and more.

Barchart

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Yen hits three-month high after Trump helps prop up currency

US and Japanese governments confirm they carried out a rare joint intervention late last week

The Guardian - UK

Why has Trump stepped in to prop up Japan’s currency?

The US has bought up yen to strengthen the currency for the first time in almost 30 years, with the moves raising questions about America’s motives

The Guardian - AU

Global Market: Japan, US confirm coordinated yen intervention to stem currency slide

Japan's finance ministry confirmed that Tokyo and Washington jointly intervened in currency markets to support the yen for the first time since 2011. The coordinated move underscores both governments' resolve to curb excessive currency volatility, though analysts remain cautious about its long-term impact.

The Economic Times

Scott Bessent Says America 'Delivers' for 'Trusted Partners' as US, Japan Confirm Joint Yen Intervention: Economist Says Goal Is to 'Buy Time'

The U.S. Treasury joined Japan’s Ministry of Finance in a coordinated yen-buying operation, with officials from both countries pledging to intervene again if disorderly market conditions continue.

Benzinga

'That's Delusional': Senators Bash Elon Musk Claim That AI Will Do Away With Retirement Accounts

Elon Musk's claim that AI will make retirement accounts obsolete faces bipartisan scepticism in Congress, with lawmakers urging continued savings amid uncertain economic impacts of AI technology.

International Business Times UK

Bessent ‘to-do’ list shows proposal for US to buy $5bn-$10bn of Japanese yen

Treasury secretary’s notepad, photographed by Reuters on Friday morning, prompts questions over US plans

The Guardian - US

US officials pressed China on rare earths, farm goods commitments, Bessent says

US officials urged China to honor commitments on rare earths and agricultural products. These discussions occurred before a potential meeting between President Trump and President Xi. China's recent trade restrictions were viewed as problematic by the United States. Both sides agreed to use consultation channels to strengthen economic ties. This…

The Economic Times

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The Economic Times

US issues sanctions on support networks for Iran's Mahan Air; India-based sales agent included

The United States sanctioned six entities and individuals for supporting Mahan Air. These companies acted as general sales agents for the Iranian airline. Mahan Air allegedly aided Iran's Islamic Revolutionary Guard Corps. One sanctioned entity is India-based Skiez Travels and Logistics Private Limited. The Treasury Department aims to cut off…

Benzinga

Scott Bessent Hits Iran-Backed Maritime Network With Sanctions, Says US Won’t Let Tehran 'Hold Global Commerce Hostage'

The Treasury Department announced sanctions against two Iran-linked companies accused of supporting an Islamic Revolutionary Guard Corps-backed maritime scheme, with Treasury Secretary Scott Bessent warning that Tehran is exploiting global shipping networks to generate revenue.

The Independent UK

Treasury Secretary parrots Elon Musk’s claim that Americans won’t need to save for retirement because of AI’s abundance

Scott Bessent echoed Elon Musk’s claims that Americans won’t need to save for retirement thanks to the “abundance of AI”.

The Economic Times

China accuses US of 'AI hegemonism', threatens countermeasures over potential probes

The ministry said Washington was threatening Chinese companies with punishment based on allegations they used "distillation" to copy advanced US AI models, despite what it called a lack of factual or legal grounds.

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International Business Times UK

Elon Musk and Mark Zuckerberg Side With Nvidia in Escalating Battle Over Who Controls AI's Future

Elon Musk and Mark Zuckerberg support Nvidia in a Silicon Valley debate over AI's future, advocating for open-source models against rivals urging regulatory containment due to security concerns.

The Economic Times

Why US' Russia act need not worry India

The proposed US Sanctioning Russia Act, which could impose tariffs on major buyers of Russian oil and gas, may have limited chances of becoming law. The bill could impact India and China, but political hurdles, waiver provisions and opposition within the Trump administration may slow its progress. India is advised…

The Free Financial Advisor

Treasury Department Has a Troubling Update for Every American Taxpayer

The Treasury Department has a problem that reaches far beyond Washington, D.C., and it does not arrive with a dramatic new tax form. The federal government now spends an enormous amount of money simply paying interest on money it already borrowed, and that bill keeps getting harder to ignore.

The Economic Times

Top US tech players back open-weights AI, Nvidia founder Jensen Huang shares letter in debut X post

Leading American technology firms have jointly endorsed open-weight artificial intelligence models. They believe this approach is crucial for maintaining United States leadership in AI development. Open models allow broader access, fostering innovation and economic participation across various sectors. Concerns about intellectual property theft are acknowledged and require targeted legal solutions.…

Latin Times

U.S., Mexico Announce Largest-Ever Financial Crackdown on Jalisco Cartel, Sanctioning 55 People and Businesses

Treasury Secretary Scott Bessent said sanctions are intended to deny CJNG "the resources it uses to traffic fentanyl, terrorize communities, and threaten American lives"

Reason

The Trump Coin Case Ends, but Legal Questions Remain

As the coin moves closer to production and distribution, it will be up to the American people to decide whether the controversial coin is deemed a success.

International Business Times

Nvidia's CEO Is Telling America To Stop Fearing AI And Not Focus On Hypothetical Scenarios

Nvidia CEO Jensen Huang is urging Washington not to let fears about artificial intelligence dictate public policy, dismissing concerns that the technology will eliminate large numbers of jobs or pose an existential threat to humanity.

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