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 testified Thursday before the Senate Banking Committee.

WASHINGTON (Reuters) -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.

U.S. President-elect Donald Trump's nominee for Treasury secretary said on Thursday that the dollar should continue to be the world's

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The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system.

Gas prices rose sharply, but investors homed in on a small decline in the core CPI.

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. Equities had tumbled Friday following strong US jobs data that traders viewed ...

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

Below are the five key challenges for the Russian economy in 2025: Russian annual inflation reached 9.5% in 2024, driven by high military and national security spending, which is set to account for 41% of total state budget spending in 2025, state subsidies on loans, and spiralling wage growth amid labour shortages.

Bashkir Service asked more than a dozen people in central Russia about their fears, anxieties – and complaints – as Russia approaches the third anniversary of its all-out war on Ukraine.

The S&P 500 shook off the December doldrums to touch a new intraday high of 6,100.81 on Thursday. It’s also just a hair away from its all-time closing high.