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Treasury convenes top banks to address AI cybersecurity risks from Mythos
technology1 day ago

Treasury convenes top banks to address AI cybersecurity risks from Mythos

The US Treasury summoned the heads of major systemically important banks to Washington to discuss cybersecurity risks tied to Anthropic's Mythos AI model after a code leak revealed vulnerabilities; attendees included Goldman Sachs, Bank of America, Citigroup, Morgan Stanley, and Wells Fargo, with Jamie Dimon invited but unable to attend. Anthropic has restricted Mythos' release and the government has designated Anthropic as a supply-chain risk.

via The Guardian|
#ai-cybersecurity#anthropic-mythos#cyber-risk
Bessent: US sticks to strong-dollar policy, no yen intervention planned
world2 months ago

Bessent: US sticks to strong-dollar policy, no yen intervention planned

Scott Bessent said the Trump administration remains committed to a strong-dollar policy and is not intervening in dollar–yen markets, fueling a dollar rally as traders reassessed intervention risk; he argued that sound fundamentals and policy will attract capital and strengthen the dollar over time, while speculation of official FX action has been denied.

via Financial Times|
#foreign-exchange#scott-bessent#us-dollar
Bessent: Denmark’s bond role is irrelevant in Greenland tensions
world2 months ago

Bessent: Denmark’s bond role is irrelevant in Greenland tensions

At Davos, U.S. Treasury Secretary Scott Bessent dismissed concerns that Denmark or European investors could pressure Washington by selling U.S. Treasuries, calling Denmark’s bond holdings and the country itself 'irrelevant' amid tensions over Greenland. He noted a Danish pension fund’s divestment and pushed back on Deutsche Bank notes, blasted European rhetoric on Greenland and questioned the value of deploying troops there, as markets had already wobbled on Greenland fears and Japanese debt volatility ahead of Trump’s Davos appearance.

via politico.eu|
#bond-market#davos#denmark
Europe Could Leverage $8 Trillion in U.S. Assets in Greenland Standoff
business2 months ago

Europe Could Leverage $8 Trillion in U.S. Assets in Greenland Standoff

Deutsche Bank says Europe, as Washington’s main creditor, could weaponize roughly $8 trillion of U.S. bonds and equities to pressure the United States in the Greenland dispute, potentially curbing dollar exposure and influencing Treasury yields; Danish funds are already repatriating dollars, and the EU may deploy capital-market tools (“bazooka”) as tensions rise, highlighting the growing interdependence of European and U.S. financial markets.

via Seeking Alpha|
#business#debt-markets#deutsche-bank
U.S. Treasury Rejects Xtellus-Lukoil Asset Deal
business3 months ago

U.S. Treasury Rejects Xtellus-Lukoil Asset Deal

The U.S. Treasury has rejected a bid led by Xtellus Partners to acquire Lukoil's assets, citing restrictions on the use of sanctioned securities, despite the bid being favored by Lukoil. The assets, valued at around $22 billion, include oil and gas projects and filling stations across multiple regions. The group plans to escalate their offer and seek a license to access the securities, as negotiations continue with a deadline extended to January 17.

via Reuters|
#business#lukoil#oil-assets
Penny Shortage Forces Grocery Stores to Rethink Change Policies
business5 months ago

Penny Shortage Forces Grocery Stores to Rethink Change Policies

The US Treasury's decision to stop minting pennies by 2026 is causing grocery stores like Kroger and Kwik Trip to adjust, with some rounding cash transactions to the nearest five cents, potentially increasing costs for consumers and raising legal and logistical questions. The move aims to save costs but may lead to changes in pricing and payment practices, especially for cash transactions, affecting consumers and businesses alike.

via The Takeout|
#business#cash-rounding#cost-savings