Bloomberg Business

The most urgent question in the bitter Washington showdown over the federal debt limit is one that the US Treasury refuses to answer: what happens if it runs out of cash?

Carl Icahn’s holding company authorized a buyback equaling almost 27% of its shares trading on the open market, potentially boosting the stock price as the financier feuds with a short seller.

US National Security Adviser Jake Sullivan sat down with China’s top diplomat for two days of what the White House called “substantive and constructive” meetings, a sign that the sides are working to ease strains that led to a breakdown in even the most routine communication.

A Mexican court ordered TV Azteca SAB de CV, owned by Mexican billionaire Ricardo Salinas Pliego, not to present financial information to the public to avoid causing “uncertainty,” throwing another wrench into a legal battle with the holders of $400 million of its defaulted bonds.

Stocks ended the day mixed, while Treasuries rallied after data signaling a cooling jobs market and renewed concerns about the health of regional lenders drove demand for safe havens.

George Santos has one less fraud case to worry about.

Massachusetts Governor Maura Healey said she’s prioritizing tax cuts and housing construction to stem an outflow of people and their incomes from the New England state.

President Volodymyr Zelenskiy told the BBC that Ukraine needs more time to prepare for its anticipated counteroffensive against Russian occupation forces. Zelenskiy earlier said that Kyiv was conducting intensive work with partners on new defense packages and decisions are expected shortly.