Thousands of UK companies risk bankruptcy due to soaring energy costs, which are double those in continental Europe. A survey by Make UK reveals a quarter of manufacturers are moving production overseas, and one in 10 fear insolvency within a year.
New UK Defence Secretary Dan Jarvis will review a controversial defence investment plan (Dip) and may seek more funds from the Treasury. This follows the resignation of the former Defence Secretary John Healey over funding disagreements, casting a shadow over the upcoming G7 summit.
UK cabinet ministers are searching for additional funds to increase defence spending following the resignation of former defence secretary John Healey. Culture secretary Lisa Nandy confirmed departments are in talks with the Treasury to find more money for defence, as the new defence secretary, Dan Jarvis, works on an alternative plan before the Nato summit.
Ten years after the Brexit vote, analysis shows severe economic costs for the UK. The pound remains below pre-referendum levels, growth has slowed significantly, trade faces friction, business investment and productivity have stalled, and employment has suffered, with public support for Brexit fading.
Former defence secretary John Healey privately advocated for the UK to join the Defence, Security and Resilience Bank (DSRB), an initiative led by Canada. Allies claim the Treasury blocked the move, with Chancellor Rachel Reeves reportedly unwilling to pay the £870m upfront investment. The DSRB aims to fund defence projects at low costs and is expected to launch at a Nato summit.
The US Treasury Department is deepening banks' involvement in President Trump's immigration crackdown by issuing new guidance. This allows banks to share information about suspected customers more rapidly and flags signs of customers lacking legal immigration status, framed as a measure against fraud and crime.
The U.S. Treasury Department has published a list of medical devices requiring specific authorization for export to North Korea, tightening licensing requirements amid Pyongyang's nuclear and missile threats.
UK Defence Secretary John Healey resigned over military spending disagreements, accusing PM Keir Starmer of risking national security. Starmer admits he must "turn things around" after poor election results, while the US expresses concern over UK defence contributions.
A federal judge in Virginia extended her block on the DOJ's $1.8 billion 'Anti-Weaponization Fund,' deeming Acting AG Todd Blanche's verbal assurance insufficient. Judge Leonie Brinkema ordered written declarations from Blanche and Treasury Secretary Scott Bessent by next week, citing concerns raised by Trump's reaction and the fund's potential to compensate Jan. 6 rioters.
Former Defence Secretary John Healey resigned, accusing PM Keir Starmer of lacking authority to challenge Chancellor Rachel Reeves. The resignation highlights a growing tension between Starmer and Reeves, despite their public unity, over defence spending and economic policy.
Avalanche Treasury Company (AVAT) debuted on Nasdaq with a 16% drop in shares to $1.85, despite a $675 million merger with Mountain Lake Acquisition, aiming to offer institutional exposure to the Avalanche blockchain without holding the cryptocurrency.
Three Indian crew members were killed when the US Navy attacked merchant ships off the Oman coast; India lodges strong protest with the US.
Nakamoto Inc. sold ~$48M in Bitcoin and derivatives, refinanced debt, and authorized a $25M share buyback, reducing debt by $45M and extending maturity to 2027, amidst Bitcoin's 21% monthly decline.
US Treasury permits financial transactions for Sakhalin-2 oil to Japan until December 18, 2026, provided it's exclusively for Japanese transport.
Melania Trump announced 'Fostering the Future Accounts,' a new savings and investment program for children in foster care, in conjunction with the U.S. Department of Treasury. The initiative aims to provide financial resources to over 400,000 vulnerable children.
US Treasury Secretary Scott Pissent vowed to use Iranian funds to compensate for damages caused by Tehran to Washington's Gulf allies, warning of severe economic repercussions from the Islamic Republic's attacks. Meanwhile, efforts to reach a preliminary agreement between Iran and the US have intensified, with discussions focusing on releasing frozen Iranian funds.
Glassnode's latest report indicates Bitcoin is in a deep discount phase, with over 95% of short-term holders underwater. Recovery is likely dependent on the dollar index (DXY) falling below 99 or 10-year Treasury yields compressing towards 4.2%.
UK Defence Minister John Healey resigned, citing Prime Minister Keir Starmer's failure to commit adequate resources for national defense amid rising threats and financial constraints. The resignation highlights a government crisis over increasing military spending.
Former US Treasury Secretary Henry Paulson advised Washington and Beijing to manage their strategic competition to prevent conflict, warning that distrust is a greater risk than trade imbalances. Speaking in Beijing, he emphasized the need for 'guard rails' amidst intense rivalry.
Treasury yields remained flat despite a faster-than-expected inflation print and ongoing Middle East conflict. Investors await producer price index data, while oil prices dipped amid regional tensions.
The US Treasury has started refunding $22 billion in tariffs after the Supreme Court canceled surcharges in February. The administration appealed the decision on June 2nd, potentially impacting these initial refunds.
Solana-based decentralized exchange Raydium experienced a $1.34 million exploit affecting five deprecated liquidity pools from an older automated market maker program. The attacker stole USDC, SOL, and RAY tokens, but current users were unaffected. This incident adds to a growing list of DeFi exploits.
The US intensified pressure on Iran with new strikes and sanctions targeting entities supporting Tehran's weapons procurement, including those in China and Hong Kong. President Trump warned Iran against playing games, as CENTCOM confirmed strikes in response to 'unwarranted aggression.' Iran retaliated by threatening to target maritime traffic in the Strait of Hormuz.
The US intensified pressure on Iran with President Trump threatening further strikes and the Treasury Department imposing new sanctions on entities supporting Iran's weapons procurement, including some in China and Hong Kong.
