The Biden administration issued a waiver to allow banks to transfer $6 billion in frozen Iranian oil funds without facing U.S. sanctions, a key step in a prisoner swap deal.
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Lawmakers Want to Clarify Who Will Need to Report Crypto Gains to the IRS
The Treasury Department pushed for the requirement to help close the tax gap in the crypto industry by forcing better IRS reporting, but legislators on both sides of the aisle argue that the language is too broad and could curb innovation in the space.
U.S. Jobless Claims Hit 52-Year Low After Seasonal Adjustments
The number of Americans applying for unemployment benefits plummeted last week to the lowest level in more than half a century, another sign that the U.S. job market is rebounding rapidly from last year’s coronavirus recession.
FAA Proposes Fines for Alcohol-Related Incidents on Planes
Federal officials said Monday they are seeking more than $160,000 in fines from eight airline passengers over incidents involving alcohol.
Fighting Gas Prices, U.S. to Release 50 Million Barrels of Oil
President Joe Biden is ordering a record-setting 50 million barrels of oil released from America's strategic reserve to help bring down energy costs.
El Salvador to Build Cryptocurrency-Fueled 'Bitcoin City'
El Salvador President Nayib Bukele says his government will build an oceanside “Bitcoin City” at the base of a volcano.
Biden to Keep Powell as Fed Chair, Brainard Gets Vice Chair
President Joe Biden announced he’s nominating Jerome Powell for a second term as Federal Reserve chair, endorsing Powell’s stewardship of the economy through a brutal pandemic recession.
The Week's Top Stories: Biden Bills, Roblox Metaverse, and Retail Resilience
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Jury Finds Rittenhouse Not Guilty in Kenosha Shootings
Kyle Rittenhouse has been acquitted of all charges after pleading self-defense in the deadly Kenosha, Wisconsin, shootings that became a flashpoint in the nation’s debate over guns, vigilantism and racial injustice.
Dems' Sweeping Social, Climate Bill Passes Divided House
A sharply divided House has approved the Democrats’ sweeping social and environment bill, a big victory for President Joe Biden.
