The deficit for the first four months of FY2024 reached $532 billion, driven by a 37% jump in interest costs vs. FY2023.

In a letter to lawmakers today, Janet Yellen says the Treasury Department's "best estimate" is that its extraordinary accounting measures will no longer be able to satisfy all the government's obligations by early June.

Firms that could attract scrutiny include insurers, private equity players, hedge funds, and mutual funds, as well as newer industries such as crypto.

Some European Union officials hope for easier negotiations next year, if Joe Biden wins the U.S. presidency.

Among the countries "named and shamed" as alleged tax havens, UAE's inclusion created the most buzz in EU discussions prior to release of the list.

In the event of a no-deal Brexit, the EU may grant 'equivalence' to U.K.-based clearinghouses.