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Bessent's big day
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Trump's Treasury nominee takes center stage Scott Bessent, President-elect ...The Hill - 6h -
Increased December Consumer Spending Bodes Well for 2025 Growth
New data shows retail and restaurant spending rose again last month, suggesting consumers unhappy about higher post-pandemic prices are still buying, especially when they can get a good deal.Inc. - 11h -
What Scott Bessent, Trump’s Treasury Pick, Might Get Asked Today
Scott Bessent, a billionaire hedge fund manager, will likely face tough questions on tax cuts and tariffs — and how bond markets might check his economic agenda.The New York Times - 17h -
Senate Democrats circulating memo alleging Bessent tax dodges
The memo called out millions of dollars in losses Treasury Secretary nominee Scott Bessent claimed related to his investment in a conservative publishing house, among other issues.Politico - 1d -
Climate ‘whiplash’ events increasing exponentially around world
Global heating means atmosphere can drive both extreme droughts and floods with rapid switches. Climate “whiplash” between extremely wet and dry conditions, which spurred catastrophic fires in Los ...The Guardian - 1d -
Trump nominees Burgum, Bessent and other picks sit for Senate confirmation hearings
President-elect Donald Trump's picks for the Treasury, Housing and Urban Development and Interior departments, along with the Environmental Protection Agency, went before lawmakers on Thursday. ...CBS News - 6h -
Cancer in women and young people is increasing, study finds
New data from the American Cancer Society shows overall cancer deaths are down but the number of women and young adults with cancer is up, according to a new study. CBS News' Michael George reports.CBS News - 8h -
Bessent calls for stronger Russia sanctions at treasury confirmation hearing
Scott Bessent, tapped by Donald Trump to be treasury secretary, faced sharp questions from Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the IRS.CBS News - 9h -
Bessent says US should increase sanctions on Russian oil companies
Trump Treasury pick tells Senate panel he wants to ratchet up pressure on Putin regimeFinancial Times - 12h -
Bessent open to increasing sanctions on Russia
Treasury Secretary-nominee Scott Bessent told senators Thursday that he would be “100 percent on board” with increasing sanctions on Russia’s major oil companies if President-elect Trump supports ...The Hill - 12h -
Watch live: Treasury hopeful Scott Bessent testifies at Senate confirmation hearing
Billionaire investor Scott Bessent, President-Trump's pick to head the Treasury Department, will testify before the Senate Finance Committee on Thursday morning. During the confirmation hearing, ...The Hill - 14h -
Bessent to tell senators Trump will usher in 'economic golden age'
Scott Bessent, President-elect Trump’s pick to lead the Treasury, plans to tell senators during his confirmation hearing that the next four years will present an opportunity for an “economic golden ...The Hill - 16h -
Cancer cases are increasing in women while declining in men, report finds
Cancer cases are shifting from men to women in the U.S., and from older to younger adults, according to a new report from the American Cancer Society.NBC News - 17h -
How wildfires increase financial risk for utility companies
As extreme blazes happen more frequently, the sector faces costly litigation and damages to infrastructureFinancial Times - 18h -
Bessent, Burgum headline Thursday's confirmation hearings
Confirmation hearings for President-elect Trump’s Cabinet picks are in full swing again Thursday as the Senate works to screen his controversial nominees. Committees will hear from the contenders ...The Hill - 19h -
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Bessent to divest from assets on road to leading Treasury
President-elect Trump’s Treasury Secretary pick Scott Bessent has plans to divest from funds and other investments as he prepares to take over as the country’s top economic official. In an ...The Hill - 4d -
UK manufacturers increase pressure on government over industrial strategy
Despite gloomy outlook on business costs, executives report ‘heightened optimism’ about investmentFinancial Times - 4d -
UK pledges huge increase in computing capacity to build AI industry
Labour to expand sovereign computing power in response to report by British venture capitalistFinancial Times - 4d -
Los Angeles Fire Department budget sustained cuts but saw overall increase
Los Angeles Fire Department budget sustained cuts but saw an overall increase.ABC News - 5d -
Scott Bessent, Trump’s Billionaire Treasury Pick, Will Shed Assets to Avoid Conflicts
Financial disclosure forms show hundreds of millions of assets including property in the Bahamas and investments in Bitcoin and bets against China’s currency.The New York Times - 5d -
California fires weather forecast: Strong winds expected to increase fire danger
There has been a reprieve from the strongest winds in southern California, but winds are expected to pick up later into tonight, raising the fire danger.ABC News - 5d -
Reward for capture of Venezuela's Maduro increased to $25 million
The increase to $25 million reflects "the gravity of his crimes and the continued threat he poses," a senior official said.CBS News - 6d -
Park City Strike Ends With Increase in Wages for Ski Patrollers
The nearly two-week strike hobbled the largest U.S. ski resort during a busy holiday period and sparked online fury about deepening economic inequality in rural mountain areas.The New York Times - Jan. 9 -
U.S. companies will need to increase their hedges against a stronger dollar in 2025, says Bank of America
A surging buck can crimp multinational’s profitsMarketWatch - Jan. 9 -
Tesco and M&S warn of rising costs but pledge to minimise price increases
Shares in retailers fall despite positive Christmas tradingFinancial Times - Jan. 9 -
Infinite Reality raises $3B to increase its immersive tech portfolio
Infinite Reality has raised $3 billion from a private investor, which it plans to put towards expanding its network and product offerings.VentureBeat - Jan. 8 -
Speaker Johnson: ‘Intention’ is to increase debt limit in massive Trump agenda bill
Speaker Mike Johnson (R-La.) said that congressional Republicans plan to increase the nation’s borrowing limit as a part of a massive party-line bill that they are crafting that will encapsulate ...The Hill - Jan. 7 -
‘Inflation levels seem to be increasing’: Businesses are worried about tariffs and rising prices.
The holiday shopping season gave a boost to service-oriented companies in December, but top executives were wary of potential Trump tariffs and a recent uptick in inflation.MarketWatch - Jan. 7 -
Next blames clothes price rises on wage increases set out in Budget
The retailer expects employee costs to increase by £73m due in part to rising National InsuranceBBC News - Jan. 7 -
Next warns of ‘anaemic’ growth after UK Budget tax increases
Retailer says measures will cost it £67mn in current financial year and warns of potentially chilling effect on economyFinancial Times - Jan. 7 -
Biden signs bill to increase Social Security benefits for millions of public workers
The Social Security Fairness Act repeals two provisions that reduced Social Security benefits for some public workers who also receive pensions.CNBC - Jan. 6 -
Firms to raise prices due to tax and wage increases
Consumers could face higher costs in the coming months amid falling confidence among UK businesses.BBC News - Jan. 6 -
UK businesses plan price increases as Budget drives up costs
Tax and wage rises have caused confidence to ‘slump’, warns British Chambers of CommerceFinancial Times - Jan. 5 -
How increased Israeli military activity is changing the Middle East
The Biden administration notified Congress of a proposed $8 billion arms sale to Israel as the U.S. government maintains its strong support for its ally in the Middle East. While the Israeli ...CBS News - Jan. 4 -
Isak extends Newcastle hot streak to increase heat on Postecoglou’s Spurs
Ange Postecoglou stood, as he always does, hands in pockets, at the edge of his technical area. It had been another frustrating afternoon, a defeat that means Spurs have now won just one of their ...The Guardian - Jan. 4 -
‘A perfect storm’: Extremism online and political polarization are increasing risk of attacks, experts say
The New Orleans attack underscores how extremism online and political division have created a “perfect storm” for radicalization in America, experts say.NBC News - Jan. 4 -
Pokemon Go Community Day Ticket Prices Increased For January Event
Each month, Pokemon Go players take part in the mobile game's Community Day: A recurring monthly event in which one Pokemon takes center stage and becomes available to catch in its Shiny form. ...GameSpot - Jan. 3 -
The Biggest U.S. Retailers Increased Their Dominance in 2024
Using distinct but overlapping business models, Amazon, Costco, and Walmart captured over half of recent growth in retailing, and are squeezing smaller rivals hard.Inc. - Jan. 3 -
French Quarter fully reopens to the public with increased security days after attack
The younger brother of the driver in the New Year’s Day terrorist attack on Bourbon Street said he’s shocked by his brother’s actions and there were no red flags beforehand.NBC News - Jan. 3
