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- U.S. Tariffs Could Price Canadian Firms Out of U.S. and Threaten Thousands of Jo...
The 50 percent tariffs President Trump imposed on Canadian exports to the United States will make it impossible for many Canadian companies to continue to sell to the U.S. market, economists say. [TheTopNews] Read More.37 mins ago - Nearly three million Teslas recalled in China over hidden door handles
Other brands affected by the recall include Chinese carmakers XPeng, Xiaomi and Geely. [TheTopNews] Read More.55 mins ago - Bessent says Treasury auctions will continue as usual despite expanded buyback p...
Treasury Secretary Scott Bessent said on Monday that the regularly scheduled Treasury auctions of U.S. debt are expected to continue per usual after his agency announced an increase in the size of buybacks of longer-dated securities.Bessent spoke Monday at a press conference to discuss a new plan for the "economic asphyxiation" of the Iranian regime through the implementation of secondary sanctions on Iran's trading partners.During the press conference, the Treasury secretary was asked about whether the agency may reduce the size of auctions for longer-term debt going forward or if there are other actions from the department's toolkit that may be used to help lower yields."We are going to continue with our regular program of auctions. So you will be hearing from us again at the beginning of next quarter," Bessent said. He added in response to a follow-up question that, "We haven't bought a single bond yet."TREASURY YIELDS HIT MULTI-DECADE HIGHS AMID SURGING NATIONAL DEBTBessent noted that the next auctions of longer-dated Treasurys, such as the 10-year note and the 20- and 30-year bonds, aren't scheduled until mid-September which is the earliest the new buyback structure could come into play after the change takes effect on Sept. 9.Under the change, which was announced on Aug. 19, the Treasury's maximum buyback authority rises from $2 billion per operation to at least $4 billion per operation, which will serve as a floor rather than a cap to allow the size of buybacks to respond to market conditions.The change is expected to remain in effect through the rest of the quarter, or through Nov. 4, after which the Treasury will provide more information about future buyback sizes.Treasury said in its announcement that the "increase in buyback operations reflects Treasury's desire to provide greater liquidity support in longer-dated nominal sectors where there is consistent strong sponsorship from market participants, as evidenced by the significant volume of high-quality offers Treasury routinely receives in longer-dated buyback operations."US NATIONAL DEBT HITS $40 TRILLION MILESTONE FOR FIRST TIME EVERLast week's announcement lowered yields on the 10-year Treasury note and on 20- and 30-year bonds for a short period of time, though they largely retraced those declines by the end of the week. Yields were down modestly on Monday.Bessent said last week that the higher buybacks aim to support liquidity in a more thinly traded portion of the market, particularly in the 30-year sector, while the longer-dated Treasurys… [TheTopNews] Read More.1 hour ago - Buc-ee’s CEO signals expansion shift away from blue states that ‘don’t app...Buc-ee’s CEO suggested recently that the Texas-based travel center chain may be done looking into blue districts, saying some communities do not appreciate what the company brings while conservative states offer business-friendly and family-oriented values.Arch "Beaver" Aplin III, the company’s president and co-founder, made the comments during the grand opening of Buc-ee’s newest location in Benton, Arkansas on August 17. The chain is known for its expansive gas stations, famously clean restrooms and in-house food offerings. "We have a lot of opportunities. We're growing. We're building in a lot of places. But when you find a conservative business-friendly state with a phenomenal workforce, it makes a difference," Aplin said. Aplin criticized states that he said do not appreciate what Buc-ee’s brings to their communities, suggesting the company would rather focus its expansion efforts elsewhere. BUC-EE'S OPENS FIRST ARKANSAS LOCATION AS CHAIN EXPANDS ACROSS US"I'm starting to realize life's too short to try to build in places that people don't appreciate what you're bringing, versus a place like this where people do appreciate what you are building," he said.Conservative states typically promote business-friendly and family-oriented policies that align with Buc-ee’s values, Aplin said. "That leadership, that concept, that idea of conservative, business-friendly, family-oriented concept works so much better if it trickles down from the very leadership from the top at the governor's office, at the congressman, at senator, at the mayor, the representatives," he said. Aplin pointed to Benton as an example of the approach, saying the city’s business-friendly environment helped pave the way for Buc-ee’s newest location."What we found when we got here into Benton was a business-friendly town," he said.CALIFORNIA PIZZA KITCHEN CO-FOUNDER OPENS UP ABOUT FAMOUS CHAIN'S WILD RISE, BANKRUPTCY AND COMEBACKFounded in 1982, Buc-ee’s operates sprawling travel centers that typically feature 74,000 square feet of space and 120 fueling positions. The locations often create more than 200 jobs, according to the company.Buc-ee’s currently has 58 locations, including 37 in Texas, according to the company’s website.The chain has expanded to 13 other states, including Alabama, Georgia, Florida, Kentucky, Tennessee, Arkansas, Arizona, Colorado, Mississippi, Missouri, Ohio, South Carolina and Virginia. Nearly all the cities where Buc-ee’s operates are located in areas that generally lean conservative, with a few exceptions where local political dynamics are more mixed.Auburn, Alabama, for example, is a college town located in a predominantly Republican county, giving it a more politically mixed environment than some surrounding communities.Brunswick, Georgia, has a Democratic-leaning municipal base despite… [TheTopNews] Read More.2 hours ago
- ‘What you see is what you pay’ – why some US restaurants are b...Tips are central to US dining culture but some eateries think that they are unfair. [TheTopNews] Read More.2 hours ago
- New 10p coin enters circulation – will you spot one?The coin has been designed to feature King Charles III and a Scottish grouse close to extinction. [TheTopNews] Read More.2 hours ago
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