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U.S. Now Spends More Servicing its Debt than on National Defense
By: Mark Cudmore, Bloomberg Markets Thanks to rising yields, the US government now has to spend more each…
E.U. Adopts New Laws to Regulate Cryptocurrency Transactions
The European Council on Tuesday formally adopted a pair of rules designed to regulate the cryptocurrency market. The…
FDIC to Slap Banks with New Fees to Cover Bailout Losses: Report
By: Jason Cohen, Daily Caller News Foundation The Federal Deposit Insurance Corporation (FDIC) plans to release a proposal…
IBM to Pause Hiring for Positions That Can Be Replaced By AI
IBM's Deep Blue chess computer made history in 1997 when it became the first machine to beat a reigning world chess champion.
China Ditches U.S. Dollars in New Brazil Agreement, Settles 1st LNG Trade in Yuan
China and Brazil signed an agreement on March 29 that would abandon the U.S. dollar and carry out…
Janet Yellen Says More Bank Bailouts Could be Coming
By: Casey Harper U.S. Treasury Secretary Janet Yellen said Tuesday that more bank bailouts could be coming. Yellen…
Federal Reserve Aware of Silicon Valley Bank’s Risky Practices Over a Year Before Collapse: Report
Silicon Valley Bank's collapse is likely to spark a push for stricter financial oversight.
FDIC Has Only About Half the Cash Needed to Cover Roughly $264B in Deposits at Failed Banks, Report
President Biden says taxpayers aren't paying for failed bank losses because the money comes from the fees banks pay into the deposit insurance.
Interest Payments on National Debt Will Exceed Defense Spending This Decade, CBO Says
By: Casey Harper The cost of interest payments on the national debt will continue to grow as a…
Chinese Refining Giants Resume Purchases of Russia’s Flagship Crude
After a brief hiatus around the time the EU embargo and the G7 price cap on Russian crude…