Latest Steven Mnuchin News

Mnuchin: Negotiators agree on core elements of budget deal

Jul. 18, 2019 10:44 AM EDT

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin said Thursday that budget and debt negotiators have reached an agreement on the core elements of a deal to increase the government's borrowing cap and set a $1.3 trillion overall level for the agency budgets that Congress passes each year. Speaking on...

Facebook's Libra gets stark warning from G-7 finance chiefs

Jul. 18, 2019 10:14 AM EDT

CHANTILLY, France (AP) — Finance chiefs from the Group of Seven rich democracies issued a stark warning on Thursday that cryptocurrencies like Facebook's Libra should not be allowed before "serious regulatory and systemic concerns" are put in check. France, which this year chairs the G-7 gatherings on...

The Latest: US still mulling retaliation for French tech tax

Jul. 18, 2019 6:53 AM EDT

CHANTILLY, France (AP) — The Latest on the G-7 finance ministers' meeting (all times local): 12:50 p.m. U.S. Treasury Secretary Steven Mnuchin says the White House will press ahead with its investigation of France's digital tax, which is aimed at companies like Google and Amazon, as a possible unfair trade...

Washington talks could soon yield spending, debt deal

Jul. 17, 2019 6:20 PM EDT

WASHINGTON (AP) — Washington negotiators are closing in on a budget and debt deal that would stave off the chance of a government shutdown this fall and allow Congress to speed through legislation to increase the government's borrowing cap. The emerging two-year framework would satisfy demands for an...

Dems pan 'Zuck buck,' want Facebook to rein in currency plan

Jul. 17, 2019 5:06 PM EDT

WASHINGTON (AP) — Facebook endured a second day of criticism from Congress over its plan to create a digital currency as senior House Democrats asked Facebook to scale back the project and threatened legislation that would block big tech companies from getting into banking. Facebook's massive market power...

US objections to French tech tax overshadow G-7 finance meet

Jul. 17, 2019 11:16 AM EDT

CHANTILLY, France (AP) — The Trump administration is objecting to France's plan to tax Facebook, Google and other U.S. tech giants, a rift that's overshadowing talks between seven longtime allies this week on issues ranging from digital currencies to trade. As finance ministers from the Group of Seven rich...

Global stocks mostly fall as Wall Street ends winning streak

Jul. 17, 2019 7:48 AM EDT

TOKYO (AP) — Global shares drifted lower Wednesday as investors await another batch of corporate earnings following Tuesday's mostly disappointing results, which put an end to Wall Street's five-day winning streak. The latest round of U.S. corporate financial reports ramps up this week and investors have...

Asian stocks mixed as Wall Street ends 5-day winning streak

Jul. 17, 2019 2:01 AM EDT

TOKYO (AP) — Asian stocks were mixed Wednesday after Wall Street ended a five-day winning streak following disappointing corporate earnings reports. Japan's benchmark Nikkei 225 dipped 0.3% to 21,475.38 in morning trading. Australia's S&P/ASX 200 added 0.4% to 6,667.60. South Korea's Kospi dipped 1.0%...

Facebook's currency plan gets hostile reception in Congress

Jul. 16, 2019 6:12 PM EDT

WASHINGTON (AP) — Under sharp criticism from senators, a Facebook executive on Tuesday defended the social network's ambitious plan to create a digital currency and pledged to work with regulators to achieve a system that protects the privacy of users' data. "We know we need to take the time to get this...

Cryptocurrencies, digital tax top agenda for G-7 meeting

Jul. 16, 2019 5:17 PM EDT

PARIS (AP) — Finance officials from the Group of Seven rich democracies will weigh risks from new digital currencies and debate how to tax tech companies like Google and Amazon when they meet at a chateau north of Paris starting Wednesday. Those issues, raised by the impact of digitalization on the world...