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The Latest Breaking News from Janet Yellen

Janet Yellen inadvertently ate hallucinogenic mushrooms in China – and started a trend

‘I was not aware that these mushrooms had hallucinogenic properties. I learned that later,’ the US Treasury secretary told CNN

The Guardian - AU

Janet Yellen admits ‘enjoying’ hallucinogenic mushrooms on China visit

Treasury Secretary caused flood of orders for mushroom delicacy

The Independent UK

Consortium’s proposed acquisition of Forbes under scrutiny over Russia, China ties

Gregory Treverton, former U.S. National Intelligence Council Chair, has asked the U.S. Treasury Department to stop a consortium, led by Austin Russell, from buying Forbes magazine due to national security concerns. The consortium had dropped SUN Group as its lead investor due to links to Russia and the Chinese governments.…

The Hindu

From analysis to the latest developments in health,
read the most diverse news in one place.

The U.S. Government's Bad Credit Means Higher Costs for Us All

Federal officials ignore repeated warnings, and we all pay the price.

Reason

China accuses US of trying to block its development and demands that technology curbs be repealed

China has accused Washington of trying to block its development after President Joe Biden stepped up a feud over technology and security by tightening controls on U.S. investments that might help Beijing develop its military

The Independent UK

Biden Escalates Trade War With China

A new national emergency declaration will allow for the creation of an outbound investment screening system targeting Americans' investments in China.

Reason

Biden signs order barring US investment in Chinese chips, quantum computing and AI sectors

Mr Biden is acting to restrict the Chinese military from reaping benefits of US tech investment

The Independent UK

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Coke vs. Pepsi: Which Consumer Defensive Stock is a Better Buy?

After high-profile downgrades to U.S. debt and 10 regional lenders, Coke and Pepsi stocks are intriguing consumer defensive stocks to consider as the market waters get choppy again.

Barchart

What is the US credit rating, and what does its downgrade mean?

Fitch Ratings lowered the United States' credit rating to AA+ on August 1st, citing worries about the country's handling of its increasing debt.

USAFacts

Under fire, Fitch defends U.S. credit rating downgrade

Under fire for downgrading U.S. federal debt, ratings analyst Richard Francis took to the airwaves on Wednesday to explain his reasoning and lobby for support.

Fortune

‌Iniciativa de procesamiento sin papel del IRS para ahorrar $ 2.6 billones en el déficit federal de EE. UU.

‌‌Yellen elogia el programa del IRS como un cambio de juego, insta al Congreso a que continúe apoyando.

Zenger

IRS’s Paperless Processing Initiative To Save $2.6 Trillion In U.S. Federal Deficit

Yellen lauds IRS program as game-changer, urges Congress for continued support.

Zenger

Yellen Criticizes Fitch’s Credit Downgrade, Defends Strong US Economy

Treasury Secretary questions Fitch's assessment, highlights robust economic recovery

Zenger

Fitch just downgraded the U.S. credit rating — how much does it matter?

The U.S. is no longer rated at the top-notch AAA by Fitch. Here's what credit ratings are, and why they (mostly) matter.

WEKU

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The Independent UK

The US government's debt has been downgraded. Here's what to know

Late Tuesday, Fitch Ratings became the second of the three major credit-rating firms to remove its coveted triple-A assessment of the United States government’s credit worthiness, a move that contributed to sharply lower stock prices in Wednesday trading

The Independent UK

IRS aims to go paperless by 2025 as part of its campaign to conquer mountains of paperwork

Most taxpayers will be able to digitally submit a slew of tax documents and other communications to the IRS next filing season and the agency plans to go completely paperless in 2025

The Guardian - US

‘Erosion of governance’ led Fitch to downgrade US credit rating

Trump’s efforts to overturn election and political polarization led agency to decision, says senior director

The Street

Fitch Ratings Bizarre and Inept US Downgrade Ignores One Key Fact

Fitch Ratings cut its triple-A credit grade for U.S. debt late Tuesday. But it forgot to consider one inescapable fact.

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news in one place.

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The Street

Stocks Slump, Fitch U.S. Downgrade, AMD, Starbucks, CVS Health

Stock futures slump as markets react to Fitch Ratings U.S. downgrade; Treasury Secretary Yellen calls Ftch downgrade 'arbitrary'; AMD shares higher after Q2 earnings highlight AI ramp; Starbucks lower after Q3 sales miss Wall Street forecasts and CVS earnings on deck amid healthcare insurance payout concern.

The Guardian - UK

Wall Street opens in the red amid global market rout after US credit downgrade – as it happened

Global stock markets tumble after Fitch downgrade; US ADP jobs report much stronger than expected

Al Jazeera

US credit rating downgraded over rising debt, ‘standards of governance’

The downgrade marks only the second cut by a major rating agency in US history.

WEKU

The U.S. loses its top AAA rating from Fitch over worries about the nation's finances

Fitch cut the federal government's top rating, citing rising deficits and a steady deterioration in governance over the last two decades. The action drew a sharp rebuke from the Biden administration.

The Independent UK

Fitch downgrades US credit rating, citing mounting debt and political divisions

Fitch Ratings has downgraded the U.S. credit rating, citing an expected increase in government debt over the next three years and a “steady deterioration in standards of governance” over the past two decades

The Independent UK

France's Le Maire presses China on market access and lobbies for electric car investment

The French finance minister says he pressed Chinese leaders to open their markets wider to foreign companies

The Conversation

Here's how China is responding to US sanctions – with blocking laws and other countermeasures

After a recent meeting between U.S. Treasury Secretary Janet Yellen and officials in Beijing, China released a statement demanding “practical action” over the issue of sanctions. The implication was that the punitive measures – imposed by the U.S. government on hundreds of Chinese individuals and entities over the past few…

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