DIRS.INFO The most relevant business & tech news

☆ Yellen warns China's surplus of solar panels, EVs could be dumped on global markets
▼ + stars: | 2024-03-27 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

"China's overcapacity distorts global prices and production patterns and hurts American firms and workers, as well as firms and workers around the world." China has a surplus of solar power, electric vehicles and lithium-ion batteries that it can ship out to other countries at cheaper prices. Yellen said she intends to put pressure on Chinese officials about these trade practices during her upcoming visit to China. Meanwhile, China has been pouring billions into clean energy for years, outpacing the rest of the world in the energy transition. Yellen added that the more China's clean energy glut interferes with global market prices, the worse off supply chains for these energy sectors will be.

Persons: Janet Yellen, Yellen, Biden Organizations: Treasury, Financial Services, General Government, Rayburn House, White House, Biden Administration, Embassy Locations: Washington , DC, China, U.S, Georgia, Washington

The yield on the 2-year Treasury yield was flat at 4.593%. The 10-year U.S. Treasury yield fell slightly on Tuesday as investors weighed the previous day's data points and looked ahead to key inflation figures later in the week. Last week, the central bank indicated that rates will fall this year, although Chairman Jerome Powell stressed that the economic outlook remains uncertain. The Dallas Fed manufacturing index for March also fell to -14.4, below expectations, although the Chicago Fed national activity index improved. There are also several auctions on the slate, including of 17-week, 4-week and 8-week Treasury bills.

Persons: Jerome Powell, Raphael Bostic, Jim Reid, Reid Organizations: Treasury, Federal Reserve, Atlanta Fed, Deutsche, Dallas Fed, Chicago Fed, Richmond Locations: U.S

☆ Treasury yields inch higher as investors look to key data in week ahead
▼ + stars: | 2024-03-25 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury yield was up by 1 basis point at 4.228%. The yield on the 2-year Treasury yield was last over 1 basis point higher at 4.617%. U.S. Treasury yields rose slightly on Monday as investors awaited fresh economic data slated for this week that could provide hints about the state of the economy. "But the economic outlook is uncertain, and ongoing progress toward our 2% inflation objective is not assured," he added. Key economic data due throughout the week could provide investors with insights into the economic outlook.

Persons: Jerome Powell, Powell Organizations: U.S, Treasury, Federal Reserve

TOKYO (AP) — Asian shares were trading mixed on Monday, as investors awaited further indications the Federal Reserve might begin cutting interest rates. A top Japanese finance official expressed reservations about the recent surge in the U.S. dollar against the Japanese yen, fueling speculation about possible intervention in the market. Despite the BOJ’s decision to hike rates, cautious communication failed to stimulate demand for the Japanese yen,” said Luca Santos, currency analyst ACY Securities. The yield on the 10-year Treasury fell to 4.21% from 4.27% late Thursday. The U.S. Federal Reserve has indicated it may deliver three cuts to interest rates this year, as long as inflation keeps cooling.

Persons: Seng, Korea's Kospi, ”, Luca Santos, Brent Organizations: TOKYO, Reserve, Nikkei, Shanghai, U.S ., U.S, of, of Japan, ACY Securities, Dow Jones, Nasdaq, Treasury, U.S . Federal Locations: of Japan, Japan, U.S

☆ TikTok aside, Congress has its eye on the U.S. money going into China
▼ + stars: | 2024-03-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

The House Select Committee on the CCP, established in January last year, led the legislative act to essentially ban TikTok in the U.S. if its Chinese parent ByteDance doesn't sell the popular social media app. watch nowThe House select committee in February also published a report alleging U.S. venture capital firms invested billions "into PRC companies fueling the CCP's military, surveillance state and Uyghur genocide." Similar research detailing the links between U.S. capital, venture firms in China and Chinese tech startups has started making its rounds in major media outlets since late 2023. The Senate in July overwhelmingly passed a bill that would have required U.S. investors in advanced Chinese technology to notify the Treasury Department. The Biden administration in August issued an executive order aimed at restricting U.S. investments into semiconductor, quantum computing and artificial intelligence companies citing national security concerns.

Persons: Ken Cedeno, that's, Mike Gallagher, Gallagher, Andrew King, King, Biden, Michael McCaul, Gregory W, Meeks Organizations: U.S, Capitol, Reuters, The U.S, Congress, Chinese Communist Party, CNBC, House Armed, Technologies, Innovation, Intelligence, CCP, Future, Ventures, Treasury Department, Treasury, Foreign, China's Ministry of Commerce, Financial Regulatory Administration Locations: Washington , U.S, Reuters BEIJING, The, China, United States, U.S, Beijing, San Francisco

☆ Treasury chief Yellen defends Biden budget against Republican senators' fears of tax increases
▼ + stars: | 2024-03-21 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

Provisions of the TCJA — a landmark tax law proposed by the Trump administration and passed by Congress in 2017 — that are set to expire in 2025 include the child tax credit. An additional "other dependent credit" offers a tax credit of $500 to people with less than $400,000 in income who have qualified dependents who are ineligible for the child tax credit. Biden's budget will restore the expanded child tax credit, the White House has said. "Would you agree that if the TCJA child tax credit provisions are not extended, this would also result in a tax hike for Americans making under $400,000?" The budget would impose a minimum 25% tax rate on the unrealized income of the very wealthiest households and raise the IRA's corporate alternative minimum tax for billion-dollar companies from 15% to 21%, while increasing the larger corporate tax rate to 28%.

Persons: Janet Yellen, Joe Biden's, Biden, Sen, Steve Daines, Yellen, Daines, Trump, Mike Crapo, pare Organizations: Treasury, Capitol, WASHINGTON —, Congress, White, Child Tax, Rescue, National Conference of State Legislatures, . Census, House Republicans, Lawmakers, Department of Homeland Security Locations: Washington , U.S, Idaho

☆ A key segment of the Treasury market is on a record losing streak ahead of the Fed meeting
▼ + stars: | 2024-03-19 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The price of bond funds like TLT move in the opposite direction of bond yields, meaning lower prices equal higher yields. TLT 1M mountain The iShares 20+ Year Treasury ETF has fallen for eight straight trading sessions. Only two of the trading sessions have seen a decline of more than 0.5%. One of the TLT's main competitors, the Vanguard Long-Term Treasury ETF (VGLT) , also fell for eight-straight trading sessions. The iShares 1-3 Year Treasury Bond ETF (SHY) has only fallen in five of the past eight sessions, for example.

Persons: Jason Goepfert Organizations: U.S . Treasury, Treasury Bond ETF, Treasury, Federal, White Oak Consultancy

☆ Treasury yields dip as Fed meeting is due to kick off
▼ + stars: | 2024-03-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury yield was down by over one basis point to 4.3243%. The 2-year Treasury yield was last at 4.7256% after dipping by around one basis point. U.S. Treasury yields were slightly lower on Tuesday ahead of the Federal Reserve's meeting, which investors are hoping will provide fresh insights into policymakers' expectations for the economy. Markets are widely expecting the Fed to keep interest rates unchanged, but uncertainty remains about the path ahead for them. Elsewhere, the Bank of Japan on Tuesday hiked interest rates for the first time in 17 years and ended its yield curve control policy in a historic move.

Organizations: Treasury, Federal, Traders, Bank of Japan

☆ Biden’s Climate Law Has Created a Growing Market for Green Tax Credits
▼ + stars: | 2024-03-19 | by ( Jim Tankersley | ) www.nytimes.com time to read: +1 min

The climate law that President Biden signed in 2022 has created a large and growing market for companies to buy and sell clean-energy tax credits, new Treasury Department data suggests, creating opportunities for start-ups to raise money for projects like wind farms and solar panel installations. The market also provides new opportunities for large companies and financial firms to make money. The projects registered with Treasury vary widely in size. They could be as small as a single wind turbine or as large as a new advanced battery factory. The numbers reflect both the wide scope of the climate law and the novel mechanisms it created for companies to cash in on its incentives.

Persons: Biden Organizations: Treasury Department, Internal Revenue Service, Treasury, District of Columbia

☆ Treasury yields are little changed as investors look to Fed meeting
▼ + stars: | 2024-03-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last less than 1 basis point lower at 4.715%. U.S. Treasury yields were little changed on Monday as investors looked ahead to the Federal Reserve's March meeting, which could provide clues about the outlook for interest rates. The Fed is due to meet on Tuesday and Wednesday and will announce its latest interest rate decision and monetary policy guidance at the end of its meeting. Markets are widely expecting the central bank to leave interest rates unchanged. Fed policymakers have previously said that their decision-making regarding interest rates would be data-dependent and that they were still looking for more evidence that inflation is easing.

Organizations: Treasury, U.S, Federal, Traders, Bank of England

Donald Trump cannot obtain a bond to secure the $454 million civil business fraud judgment against him as he pursues an appeal of the case, his attorneys said in a New York court filing Monday. Attorneys for Trump and his co-defendants in the fraud case argued that it was "impossible" for them to secure a complete appeal bond, which would "effectively" require "cash reserves approaching $1 billion." Trump in a deposition last year claimed to have "substantially in excess of $400 million in cash." But Monday's filing nevertheless asserted that obtaining a bond for the full $464 million judgment is unattainable. The defendants had previously offered to post a $100 million bond, less than one-fourth the total judgment, in order to pause James from collecting the penalties during the appeal process.

Persons: Donald Trump, Letitia James, Arthur Engoron, Trump, Gary Giulietti, Giuletti, Giulietti, Trump's, James, Anil Singh, Alina Habba, Chubb, Jean Carroll Organizations: U.S, New York, Trump, Division of Manhattan Supreme, Appeals, New York ., Lockton Companies, U.S . Treasury Department, Trump Organization Locations: New York City, New York, New York . Manhattan, York

☆ Treasury yields mixed as investors fret over interest rate outlook
▼ + stars: | 2024-03-15 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last less than one basis point higher to 4.6936%. U.S. Treasury yields were little changed on Friday as investors considered the outlook for interest rates after inflation data released Thursday came in higher than expected. Investors assessed the path ahead for monetary policy after Thursday's inflation data came in hotter than expected, raising uncertainty about when interest rate cuts may begin. The core PPI, which excludes food and energy prices, came in at 0.3%. Investors are, however, hoping for hints about the timeline for interest rate cuts, which Fed officials have so far given little indication about.

Persons: Dow Jones Organizations: Treasury, U.S, Investors, PPI, Federal

☆ Former Treasury Secretary Mnuchin: I'm going to put together a group to buy TikTok
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Treasury Secretary Mnuchin: I'm going to put together a group to buy TikTokFormer U.S. Treasury Secretary and Liberty Strategic Capital founder and managing partner Steven Mnuchin joins 'Squawk Box' to discuss the latest developments around a potential TikTok ban, why he's putting together a group to buy the social media app, whether he believes the app poses a national security risk, his thoughts on entitlements, state of the U.S. economy, and more.

Persons: Mnuchin, Steven Mnuchin Organizations: Former, Former U.S, Treasury, Liberty Strategic Capital Locations: U.S

☆ Former Treasury Secretary Mnuchin: Government spending is what caused inflation
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Treasury Secretary Mnuchin: Government spending is what caused inflationFormer U.S. Treasury Secretary and Liberty Strategic Capital founder and managing partner Steven Mnuchin joins 'Squawk Box' to discuss the latest developments around a potential TikTok ban, why he's putting together a group to buy the social media app, whether he believes the app poses a national security risk, his thoughts on entitlements, state of the U.S. economy, and more.

Persons: Steven Mnuchin Organizations: Former, U.S, Treasury, Liberty Strategic Capital Locations: U.S

☆ Treasury yields inch higher as investors await wholesale inflation data
▼ + stars: | 2024-03-14 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Yields and prices move in opposite directions and one basis point equals 0.01%. ET, the yield on the 10-year Treasury was up by less than one basis point to 4.1977%. The 2-year Treasury yield was last at 4.6302% also less than a basis point higher. U.S. Treasury yields were slightly higher on Thursday as investors looked to additional inflation data that could inform Federal Reserve monetary policy decisions. Investors are looking ahead to the second set of key inflation this week, the producer price index for February.

Persons: Dow Jones Organizations: Treasury, PPI, Federal

☆ Watch CNBC's full interview with former Treasury Secretary Steven Mnuchin
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with former Treasury Secretary Steven MnuchinFormer U.S. Treasury Secretary and Liberty Strategic Capital founder and managing partner Steven Mnuchin joins 'Squawk Box' to discuss the latest developments around a potential TikTok ban, why he's putting together a group to buy the social media app, whether he believes the app poses a national security risk, his thoughts on entitlements, state of the U.S. economy, and more.

Persons: Steven Mnuchin Organizations: Steven Mnuchin Former U.S, Treasury, Liberty Strategic Capital Locations: Steven Mnuchin Former, U.S

☆ Yellen touts electric vehicle 'boom' as automakers tone down hype
▼ + stars: | 2024-03-13 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Treasury Secretary Janet Yellen on Wednesday lauded President Joe Biden's investment in electric vehicles for accelerating the sector, even as the industry cools off from its yearslong hot streak. Yellen touted Biden's EV actions in Kentucky at a new $49 million EV battery factory built by Advanced Nano Products, a battery supplier that will receive tax credits from Biden's Inflation Reduction Act for the new clean energy facility. "It's part of a boom in EV-related investments in Kentucky," Yellen said. "The Biden Administration's policies and federal funds are fueling private sector investments." The secretary's EV bullishness comes as the private sector tempers its mood on all-electric vehicles.

Persons: Janet Yellen, Joe Biden's, Yellen, Biden, optimistically Organizations: Treasury, Financial, Washington , D.C, EV, Nano Products, bullishness, CNBC, Ford, General Motors, IRA Locations: Washington ,, Kentucky, EVs, Michigan

☆ Gold subdued as U.S. inflation surprise casts doubt on mid-year rate cut
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were flat on Wednesday, after falling the most in a month in the previous session, as sticky U.S. inflation raised concerns an interest rate cut by the Federal Reserve may be delayed beyond June. Gold's latest price drop comes as everything falls back to the inflation data, that feeds through into U.S. Fed's decision making, Michael Langford, chief investment officer at Scorpion Minerals Ltd said. Langford expects a healthy correction of up to about 10% in gold prices from here. Bullion fell 1.1% on Tuesday, after data showed U.S. consumer prices increased solidly in February, above forecasts and suggesting some stickiness in inflation. This was gold's worst single-day decline since Feb. 13, when data showed consumer prices also increased more than expected in January.

Persons: Michael Langford, Langford Organizations: Co, Federal, Scorpion Minerals Ltd, Traders, Treasury Locations: Bangkok, Thailand, U.S, Ukraine

☆ Treasury yields hold steady as investors weigh inflation outlook
▼ + stars: | 2024-03-13 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was less than one basis point higher to 4.1586%. The 2-year Treasury yield was last at 4.6050% after also rising by less than one basis point. U.S. Treasury yields were little changed on Wednesday as investors considered the latest inflation data and weighed the state of the economy. The so-called core CPI, which excludes volatile food and energy prices, was 0.4% higher than in January and up 3.8% from a year earlier, which was also slightly higher than anticipated. Two Fed meetings are scheduled before then, including one next week from which investors are hoping to gain fresh insights into the outlook for interest rates.

Persons: Dow Jones, Jerome Powell Organizations: Treasury, Federal, Traders

☆ Gold retreats from near record-high levels ahead of U.S. inflation data
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +2 min

Gold prices slipped from near record-high levels on Tuesday, as traders braced for key U.S. inflation report that could give more clarity on when the Federal Reserve might start cutting its interest rates. Spot gold fell 0.2% to $2,178.53 per ounce, as of 0424 GMT, after rising for nine consecutive sessions. "Following the stellar run-up in gold prices, it does call for some near-term breather," IG market strategist Yeap Jun Rong said. Another surprise run of hotter-than-expected inflation data for February will likely challenge that, which could drive some near-term unwinding in gold prices." Traders are pricing in three to four quarter-point (25 bps) U.S. rate cuts, with a 70% chance for the first in June, as per LSEG's interest rate probability app.

Persons: Bullion, Yeap Jun Rong, there's, Tim Waterer Organizations: Co, Federal Reserve, Traders, U.S . Treasury, KCM Trade Locations: Bangkok, Thailand, U.S

☆ Former U.S. official's work for Chinese client stirs concern over disclosure loopholes
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +4 min

Advocating for foreign clients is legal and U.S. law includes a public disclosure exemption for lawyers. The Paul, Weiss law firm declined to comment on the letter, and Lynch did not respond to Reuters emails. The U.S. Treasury and Commerce departments say DJI supported biometric surveillance and tracking of Muslim Uyghur minorities in China. "It is appalling that former senior U.S. officials use their connections to serve the interests of U.S. adversaries," Risch said. Others argue that stricter FARA rules on disclosure could give authoritarian countries like Russia and China cover for their own stifling of free speech.

Persons: Loretta Lynch, Obama, Lynch, Paul, Weiss, DJI, FARA, Jim Risch, Risch, Jonathan Turley, Turley Organizations: U.S, senior Defense Department, SZ DJI Technology Co, U.S . Department of Justice, Reuters, Department of Defense, China's Communist Party, U.S . Treasury, Commerce, The Defense Department, Pentagon, Justice, Republican, Senate Foreign Relations, American Civil Liberties Union, Justice Department, George Washington University Locations: FARA, U.S, China, WuXi, Russia

☆ 10 things to watch in the stock market Tuesday, including Oracle's pop and Southwest's drop
▼ + stars: | 2024-03-12 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Core CPI, excluding food and energy prices, was up 3.8% year over year versus 3.7% expected but below January's 3.9%. RBC initiates DexCom with an outperform rating and $165 price target. JPMorgan upgrades Dollar General to neutral from underweight (hold from sell) and hikes price target to $158 per share from $120. The analysts keep an overweight buy-equivalent on Dollar Tree and increase price target to $165 from $157 ahead of earnings this week. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Evercore, Raymond James, Mike Roman, William Brown, Jim Cramer's, Jim Cramer, Jim Organizations: CPI, Treasury, Oracle, Apple, underperform, Southwest Airlines, Boeing, Max, RBC, Abbott Laboratories, JPMorgan, Jim Cramer's Charitable, CNBC

☆ Treasury yields dip ahead of consumer inflation data
▼ + stars: | 2024-03-12 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was down by over one basis point to 4.0924%. U.S. Treasury yields were slightly lower on Tuesday as investors awaited key inflation data in form of the consumer price index for February. Investors looked ahead to key inflation data due this week. This includes the consumer price index for February due Tuesday, as well as the producer price index for the month later in the week. They are also some of the last key data points before the Fed's March meeting, at which investors are widely expecting rates to be left unchanged.

Persons: January's, Jerome Powell Organizations: Treasury, U.S, Dow, January's CPI, Federal Reserve Locations: Dow Jones

☆ 10-year Treasury yield dips as investors consider state of the economy
▼ + stars: | 2024-03-11 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was down by over one basis points to 4.0711%. The 2-year Treasury yield was little changed and was last up by less than one basis point to 4.4879%. U.S. Treasury yields were mixed on Monday as investors weighed the state of the economy and looked ahead to key data slated for the week. Investors considered the state of the economy following Friday's release of jobs data for February. Investors widely took the data as a sign that interest rate cuts from the Federal Reserve are on the table for this year.

Persons: Nonfarm, Dow Jones, Jerome Powell Organizations: Treasury, U.S, Investors, Federal, CPI, PPI Locations: U.S

OpenAI is reinstating CEO Sam Altman to its board of directors and said it has “full confidence” in his leadership after the conclusion of an outside investigation into the company's turmoil. After months of investigation, it found that Altman's ouster was a “consequence of a breakdown in the relationship and loss of trust” between him and the prior board, OpenAI said in a summary of the findings Friday. The investigation found the prior board acted within its discretion. “The review concluded there was a significant breakdown in trust between the prior board, and Sam and Greg,” Bret Taylor, the board’s chair, told reporters Friday. After it retained the law firm in December, OpenAI said WilmerHale conducted dozens of interviews with the company’s prior board, current executives, advisers and other witnesses.

Persons: Sam Altman, Altman, OpenAI, Sue Desmond, Hellman, Melinda Gates, Nicole Seligman, Fidji Simo, “ I’m, ” Altman, he’s, ”, Helen Toner, Tasha McCauley, “, Greg Brockman, ” OpenAI, Brockman, Greg, ” Bret Taylor, Taylor, Microsoft —, Toner, McCauley, Ilya Sutskever, Sutskever, Ilya, Elon Musk, Larry Summers, Adam D’Angelo, WilmerHale, WilmerHale didn't, Musk, ” Taylor Organizations: Sony, San, OpenAI, Microsoft, Georgetown University, RAND Corporation, Facebook, Elon, U.S ., Associated Press Locations: San Francisco, U.S

Search resuls for: ". Treasury"

25 mentions found