Articles written by Fatima Hussein

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US and UK issue new sanctions on Iran in response to Tehran's weekend attack on Israel

WASHINGTON (AP) — The U.S. and U.K. on Thursday imposed a new round of sanctions on Iran as concern grows that Tehran's unprecedented attack on Israel could fuel a wider war in the Middle East. The sanctions are meant to hold Iran accountable for i...

 

Yellen says Iran's actions could cause global 'economic spillovers' and warns of more sanctions

WASHINGTON (AP) — Treasury Secretary Janet Yellen warned Tuesday of potential global economic damage from rising tensions in the Middle East and pledged that the U.S. and its allies won't hesitate to use their sanctions powers to address Iran's "...

 

New US-China talks will address a top American complaint about Beijing's economic model, Yellen says

GUANGZHOU, China (AP) — U.S. Treasury Secretary Janet Yellen said Saturday that upcoming U.S.-China talks will tackle a top Biden administration complaint that Beijing's economic model and trade practices put American companies and workers at an u...

 

Budget Office report credits immigration and spending deals with improved outlook despite huge debt

WASHINGTON (AP) — The nonpartisan Congressional Budget Office said Wednesday that it expects the federal government to be awash in debt over the next 30 years, but the outlook has improved over the past year due to increased immigration and a...

 

Biden's budget proposal for a second term offers tax breaks for families and lower health care costs

MANCHESTER, N.H. (AP) — President Joe Biden on Monday released a budget proposal aimed at getting voters' attention: It would offer tax breaks for families, lower health care costs, smaller deficits and higher taxes on the wealthy and c...

 

'Honored to have your back, and you have mine': Biden endorsed by United Auto Workers in election

WASHINGTON (AP) — President Joe Biden picked up an endorsement from the United Auto Workers union Wednesday, an important boost to the Democratic president's reelection bid as he pushes to sway blue-collar workers his way in critical auto-making s...

 

A global day of protests draws thousands in Washington and other cities in pro-Palestinian marches

WASHINGTON (AP) — Thousands of demonstrators converged opposite the White House on Saturday to call for an end to Israeli military action in Gaza, while children joined a pro-Palestinian march through central London as part of a global day of a...

 

Hydrogen tax credit plan unveiled as Biden administration tries to jump start industry

WASHINGTON (AP) — The Biden administration released its highly anticipated proposal for doling out billions of dollars in tax credits to hydrogen producers Friday, in a massive effort to build out an industry that some hope can be a cleaner a...

 

US announces sanctions against a group of 10 Hamas members and financial network over Israel attack

WASHINGTON (AP) — The U.S. announced sanctions on Wednesday against a group of 10 Hamas members and the Palestinian militant organization's financial network across Gaza, Sudan, Turkey, Algeria and Qatar as it responds to the surprise attack on I...

 

Treasury's Yellen says US could default as soon as June 1

WASHINGTON (AP) — Treasury Secretary Janet Yellen notified Congress on Monday that the U.S. could default on its debt as early as June 1, if legislators do not raise or suspend the nation's borrowing authority before then and avert what could p...

 

Calling the IRS? Hold times are way down this tax season

WASHINGTON (AP) — Taxpayers who called the IRS had an average wait time of four minutes this tax season compared to 27 minutes a year earlier, the agency said Monday. Ahead of the tax filing deadline on Tuesday, the IRS is promoting its improved c...

 

IRS pledges more audits of wealthy, better customer service

WASHINGTON (AP) — The IRS released details Thursday on how it plans to use an infusion of $80 billion for improved operations, pledging to invest in new technology, hire more customer service representatives and expand its ability to audit h...

 

New IRS leader promises faster, easier tax filing process

WASHINGTON (AP) — New IRS Commissioner Danny Werfel delivered a tax-season pledge Tuesday that the agency will use an $80 billion infusion of cash to become faster, more tech-savvy and provide "real-world improvements" to taxpayers. Werfel, as he w...

 

Biden expected to tighten rules on US investment in China

WILMINGTON, Del. (AP) — The Biden administration is close to tightening rules on some overseas investments by U.S. companies in an effort to limit China's ability to acquire technologies that could improve its military prowess, according to a U.S. o...

 

Two Americans arrested on charges of selling tech to Russia

WASHINGTON (AP) — The Justice Department on Thursday arrested two Kansas men on allegations that the pair illegally exported aviation-related technology to Russia and provided repair services for the equipment. Cyril Gregory Buyanovsky and Douglas R...

 

Treasury to increase borrowing amid debt ceiling standoff

WASHINGTON (AP) — The Treasury Department said Monday it plans to increase its borrowing during the first three months of 2023, even as the federal government is bumping up against a $31.4 trillion limit on its legal borrowing authority. The U.S. p...

 

Door of No Return: Yellen visits onetime slave-trading post

GOREE ISLAND, Senegal (AP) — U.S. Treasury Secretary Janet Yellen paid a solemn visit Saturday to the salmon-colored house on an island off Senegal that is one of the most recognized symbols of the horrors of the Atlantic slave trade that trapped t...

 

The AP Interview: Yellen says debt standoff risks 'calamity'

DAKAR, Senegal (AP) — U.S. Treasury Secretary Janet Yellen said in an Associated Press interview Saturday she expects Congress will ultimately vote to raise America's debt limit, but demands by House Republicans for spending cuts in return for b...

 

FTX founder charged in scheme to defraud crypto investors

NEW YORK (AP) — The U.S. government charged Samuel Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, with a host of financial crimes on Tuesday, alleging he intentionally deceived customers and investors to enrich himself a...

 

On the money: Yellen's next milestone is name on US currency

FORT WORTH, Texas (AP) — Faith in the U.S. dollar has often hinged in part on what Treasury Secretary Janet Yellen says. On Thursday, the focus will be on what she writes, as the government churns out its first currency bearing her signature. Yellen...

 

EU edges closer to $60-per-barrel Russian oil price cap

BRUSSELS (AP) — The European Union was edging closer to setting a $60-per-barrel price cap on Russian oil — a highly anticipated and complex political and economic maneuver designed to keep Russia's supplies flowing into global markets while clamping...

 

G-7 joins EU on $60-per-barrel price cap on Russian oil

WASHINGTON (AP) — The Group of Seven nations and Australia joined the European Union on Friday in adopting a $60-per-barrel price cap on Russian oil, a key step as Western sanctions aim to reorder the global oil market to prevent price spikes and s...

 

Roland Mesnier, pastry chef for five presidents, dies at 78

WASHINGTON (AP) — Roland Mesnier, who created often-magical desserts for five presidents and their guests as White House executive pastry chef, has died at age 78. His death was confirmed Saturday by the White House Historical Association, which s...

 

Expanded IRS free-file system one step closer in Dems' bill

WASHINGTON (AP) — The flagship climate change and health care bill passed by Democrats and soon to be signed by President Joe Biden will bring U.S. taxpayers one step closer to a government-operated electronic free-file tax return system. It's s...

 

Expanded IRS free-file system one step closer in Dems' bill

WASHINGTON (AP) — The flagship climate change and health care bill passed by Democrats and soon to be signed by President Joe Biden will bring U.S. taxpayers one step closer to a government-operated electronic free-file tax return system. It's s...

 

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