Scott Bessent, tapped by Donald Trump to be treasury secretary, faced sharp questions from Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the IRS.

President-elect Donald Trump's pick for Treasury secretary, Scott Bessent, said on Thursday that the dollar should remain the world's reserve currency, the Federal Reserve should stay independent, and that he is ready to impose tougher sanctions on Russia's oil sector.

US President-elect Donald Trump's pick for treasury secretary, Scott Bessent, took part in a confirmation hearing with lawmakers on Thursday. He said additional sanctions on Russia could be imposed to help end the war in Ukraine.

The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system.

Stocks and bonds slid in Asia following Friday’s stronger-than-expected US jobs data, while oil climbed to a four-month high amid sanctions on Russia.

Crude oil and natural gas prices both surged higher, supported by frigid temperatures gripping parts of the nation

Global markets mostly retreated on Monday after traders trimmed bets on US Federal Reserve rate cuts and oil extended a rally sparked by new sanctions on Russia's energy sector.

Mr Scott Bessent is a hedge fund manager and founder of Key Square Capital Management. Read more at straitstimes.com.

Russia recorded a budget deficit of more than 3 trillion roubles for the third year running in 2024, the finance ministry said on Monday, with both spending and revenue rising sharply compared with 2023 as Moscow ploughed economic resources into the war in Ukraine.

With Donald Trump's pledge to quickly end the war between Ukraine and Russia, market players are starting to look at what impact that could have on the rouble, which became an outcast following sanctions.

Russia could run out of liquid reserves as soon as this fall, one European economist has said. The nation's liquid reserves have dwindled to $31 billion, down from $117 billion in 2021. Limited ...

Russia will not allocate federal funds to equip civilian airports with anti-drone systems as initially expected, pro-Kremlin publication Vedomosti reported on Jan. 12, citing two undisclosed sources.