WASHINGTON (AP) — Treasury Secretary Steven Mnuchin said Wednesday the redesign of the $20 bill to feature 19th century abolitionist leader Harriet Tubman has been delayed.
Outgoing US Treasury secretary to join Columbia faculty
NEW YORK (AP) — Columbia University says outgoing Treasury Secretary Jacob Lew will join its School of International and Public Affairs faculty as a visiting professor.
Columbia said Thursday that Lew will lecture, teach graduate students and work with faculty on the subjects of international economics, fiscal and trade policy, and other public policy issues.
IMF, US Treasury chiefs visit Gulf amid oil price slowdown
DUBAI, United Arab Emirates (AP) — Oil-rich Gulf countries face further economic strain as crude prices remain low, requiring them to cut back spending and raise money other ways, the heads of the International Monetary Fund and the U.S. Treasury have said in recent visits to the region.
Zombie banks are stalking Europe’s economy
FRANKFURT, Germany (AP) — The walking dead are gnawing at Europe's weak economy — zombie banks and zombie companies.
Almost a decade after the financial crisis that ravaged the global economy, analysts and top officials are warning that too many banks in Europe are struggling financially, keeping them from lending to companies and fostering growth.
US moves to dissuade firms from moving abroad to lower taxes
WASHINGTON (AP) — The U.S. Treasury Department has issued rules to limit the allure of "tax inversions" — whereby companies trim their tax bills by moving abroad.
The rules would limit companies' ability to make internal loans that saddle their U.S. subsidiaries with debt and shift profits to countries with lower tax rates — a process called "earnings stripping." Treasury softened the rules it proposed in April to avoid disrupting normal business operations.
US Treasury head touts trade, security in Mexico visit
MEXICO CITY (AP) — U.S. Treasury Secretary Jacob Lew made a strong pitch for the Trans-Pacific Partnership trade pact during a visit to Mexico on Thursday.
Lew strongly defended globalization, but acknowledged that "some industries, towns, and workers" in both the U.S. and Mexico "are feeling the stress of this change."
Mexico was seen as a beneficiary of the 1994 North American Free Trade Agreement, and the pact has become an issue in this year's U.S. presidential campaign.
Lew says Apple’s tax fight could spur congressional action
WASHINGTON (AP) — U.S. Treasury Secretary Jacob Lew on Wednesday criticized a European ruling that Apple owes more than $14.5 billion in back taxes. But he said the decision may spur Congress to finally address the stalled effort to reform America's corporate tax structure.
Obama administration taps Kim for second term at World Bank
WASHINGTON (AP) — The Obama administration is nominating current World Bank President Jim Yong Kim for a second term leading the 189-nation international lending organization.
In making the announcement Thursday, Treasury Secretary Jacob Lew praised Kim for using his first term at the World Bank to effectively address "today's most pressing global challenges in innovative ways, from ending extreme poverty and tackling inequality to combating climate change."
WASHINGTON — The hostility toward Wall Street remains so great, both political parties say, in their platforms, they'd like to break up America's biggest banks. But before engaging in this drastic economic surgery, it's worth examining whether Dodd-Frank is working. Recall that the law, named after its congressional sponsors, former Sen. Christopher Dodd and former Rep. Barney Frank, overhauled the financial system to make it more panic proof. Is it? The answer might...
ATHENS, Greece (AP) — U.S. Treasury Secretary Jacob Lew stressed Thursday the importance of making Greece's debt sustainable, praising the country's progress in reforming its economy as part of its international bailouts but urging it to continue implementing the necessary measures.
Speaking in Athens after talks with Greek Finance Minister Euclid Tsakalotos, Lew said further progress on reforms was important so European creditors could begin discussions with the...
US Treasury Secretary heads to Greece
ATHENS, Greece (AP) — US Treasury Secretary Jacob Lew is to visit Greece to discuss the country's progress in meeting reforms required under its third international bailout.
Lew, scheduled to arrive Wednesday, was to meet on Thursday with Greek Finance Minister Euclid Tsakalotos and Prime Minister Alexis Tsipras to discuss the reforms package, which includes labor, pension and social security reforms, tax hikes and privatizations.
WASHINGTON (AP) — The U.S. Treasury Department says Secretary Jacob Lew will meet with officials in London, Paris, Berlin and Brussels next week to discuss ways to promote "economic stability and shared economic growth" in the wake of the vote in Britain to leave the European Union.
Treasury said that Lew would meet with finance ministers as well as business leaders and financial market participants in each of the cities he visits starting on Monday.