Finance
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Trump administration strikes $250 billion trade deal with Taiwan in midst of tech battle with China
The deal directs Taiwanese semiconductor and technology companies to directly invest at least $250 billion in building and expanding advanced semiconductor, energy, and artificial intelligence production and innovation capacity in the United States.
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Saks files for bankruptcy after multibillion-dollar acquisition
"The path ahead presents a meaningful opportunity to strengthen the foundation of our business and position it for the future," Geoffroy van Raemdonck said
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Dow Jones closes at record high with nearly 600-point gain after US makes moves on Venezuela
The Dow Jones rose 595 points, or 1.2% to $48,977, while stocks in American oil companies like Chevron, which is the last remaining U.S. oil major in Venezuela, also closed at a high. Chevron gained 5% Monday.
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Treasury sanctions Iran, Venezuela over combat drones, weapons trade
The department said Iran's unmanned aerial vehicle trade threatens U.S. personnel in the Middle East, and its trade with Venezuela poses security concerns in the Western Hemisphere.
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Treasury Department to end federal tax benefits for illegal migrants: Bessent
Bessent said refunded portions of some income tax benefits will no longer go to illegal migrants, including the Earned Income Tax Credit, the Additional Child Tax Credit, the American Opportunity Tax Credit and the Saver’s Match Credit.
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Treasury Sec Bessent says there's a 'good chance' Trump will announce new Fed chair by Christmas
Trump has long criticized current Federal Reserve Chairman Jerome Powell for not slashing interest rates, despite having nominated him for the post in his first term. Powell's term ends in May, and he has so far rejected calls to resign early.
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Former Treasury Secretary Larry Summers announces step back from public life over Epstein ties
The House Oversight Committee released a trove of emails and documents last week between Epstein and several prominent politicians and former government employees, including Summers, who served under former President Bill Clinton.
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Stock market drops sharply a day after government shutdown ends; Dow sinks nearly 800 points
The tech-heavy Nasdaq Composite netted the most losses with a 2.5% slump, while the S&P 500 sank 1.8% as of publishing. The Dow closed with an 809 point loss, or 1.7%.
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US officially stops penny production
The US minted pennies for over 230 years
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Trump admin warns that military service members may not be paid if shutdown continues next month
The White House was able to pull enough money from a mix of defense and legislative funds in order to pay troops this week, and was also able to compensate service members on Oct. 15. But the next payday is Nov. 15.
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Stock market closes with new highs after US, China reach a framework in trade deal
The S&P 500 climbed 1.23% to 6,875.16, marking the first time it's ever closed above 6,800 points. The Nasdaq Composite rose 1.86% to 23,637.46, and the Dow Jones Industrial Average jumped 337.47 points to 47,544.59.
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Treasury Department sanctions Colombian President Gustavo Petro and network
The Treasury Department said the sanctions stem from an executive order that targets people involved in the global drug trade. Colombia is considered the top producer and exporter of cocaine.
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Media giant Warner Bros. Discovery puts itself up for sale
Company valued at over $45 billion ahead of announcement