Trump selects Scott Bessent for Treasury secretary
Scott Bessent, the founder of the Connecticut-based hedge fund Key Square Group, had been making a full-court press for the post.
United States Department of the Treasury
Trump selects several new Cabinet positions
President-elect Donald Trump selected hedge fund CEO Scott Bessent as treasury secretary, Oregon Rep. Lori Chavez-DeRemer as labor secretary, former Office of Management and Budget Director Russell Vought to the same role, and Dr. Janette Nesheiwat as surgeon general. CBS News reporter Jake Rosen has more on the picks.
Who is Scott Bessent? What to know about Trump's Treasury secretary pick.
If confirmed, Bessent would runn the department that manages the nation's finances as well as its tax agency, the Internal Revenue Service.
U.S. accuses man dubbed "The Tank" of leading cartel fuel theft ring
The U.S. says Ivan Cazarin Molina answers directly to Jalisco cartel leader "El Mencho" who has a $10 million bounty on his head.
IRS has recovered $1.3 billion in unpaid taxes from rich Americans
The IRS said funding from the Inflation Reduction Act has helped it go after wealthy taxpayers who failed to pay their tax bills.
Cartel-linked firms sanctioned for timeshare scams targeting Americans
The Jalisco New Generation drug cartel has reportedly killed call center workers who try to quit.
U.S. sanctions powerful Ecuador crime gang Los Lobos and leader "Pipo"
The U.S. has sanctioned Los Lobos, an Ecuadorian crime gang that officials say is behind much of the violence shaking the country.
U.S. working to counter cheap Chinese exports
U.S. officials, from the president to the Treasury secretary, are accusing China of pushing cheap goods. Mark Wu, professor of law at Harvard University, joins CBS News to examine how low-priced Chinese products could impact American businesses, workers and the global economy.
Secretary Yellen meets with Chinese Premier Li in Beijing
Treasury Secretary Janet Yellen and Chinese Premier Li Qiang sounded a hopeful note on bilateral relations at the start of their Sunday meeting in Beijing.
Janet Yellen discusses inflation, U.S. economy
Treasury Secretary Janet Yellen sat down with Jo Ling Kent in the battleground state of Michigan for an exclusive interview about the concerns many Americans continue to have about high prices. This comes after inflation rose again in January at a higher rate than expected.
U.S. Mint issues commemorative coins celebrating Harriet Tubman
A limited series of three coins features designs depicting different eras in the life of famed abolitionist and social activist Harriet Tubman.
What to look for at Biden-Xi talks next week
There are new signs of diplomacy with China. Treasury Secretary Janet Yellen met with her Chinese counterpart -- one week before President Biden meets with Chinese President Xi Jinping. William Reinsch, senior adviser at the Center for Strategic and International Studies, joins CBS News to discuss what could come out of the talks.
Are I-bonds a good investment now? Here's what to know.
The interest rate on Series I savings bonds now tops 5%, although as investments they're not right for everyone.
White House blames GOP for credit downgrade
Fitch Ratings downgraded the U.S. government's top credit rating on Tuesday. The White House in a statement said they disagreed with the decision and blamed Republicans, who they say were "cheerleading default." CBS News senior White House correspondent Weijia Jiang reports.
Here's what the Fitch downgrade of U.S. debt means for you
The nation's mounting government debt and eroding political stability is suddenly front and center. Should investors worry?
Yellen tells China U.S. "troubled by punitive actions" against business
Janet Yellen, in Beijing to meet Chinese officials and American businesses, stressed the U.S. desire to trade, but not at the expense of security.
U.S. to limit China's access to cloud services
The Biden administration is moving to restrict Chinese companies from accessing U.S. cloud-computing services ahead of Treasury Secretary Janet Yellen's trip to Beijing. Earlier this week, China imposed restrictions on the exports of two minerals used in advanced chip manufacturing. Robert Ross, non-resident fellow at the Quincy Institute, joins CBS News to discuss what the U.S. stands to gain from Yellen's visit.
How Yellen's China trip may impact U.S. ties
Treasury Secretary Janet Yellen will visit China on Thursday as part of an ongoing push from the U.S. to try and stabilize relations with Beijing. Yellen will meet with senior Chinese officials and leaders of U.S. companies operating in China. CBS News reporter Sarah Ewall-Wice joins to discuss the main priorities of Secretary Yellen's visit.
Estimated debt limit deadline moved to June 5
Treasury Secretary Janet Yellen announced Friday that the estimated deadline that the government could begin to default on its debts has been pushed back from June 1 to June 5, giving negotiators an extra four days to reach a deal on raising the nation's debt ceiling. House Speaker Kevin McCarthy has expressed optimism that it will get done in time. CBS News congressional correspondent Scott MacFarlane has the latest.
What happens to Social Security if the U.S. breaches the debt ceiling?
Millions of Social Security recipients "need to be very careful" about spending because payments could be delayed, one expert said.
Yellen: U.S. default would be a "catastrophe"
The treasury secretary also told G-7 finance ministers and central bank chiefs meeting in Japan that a first-ever U.S. default on its debts is "unthinkable."
Why the U.S. debt ceiling is unique
As Congress and the White House face down a deadline to raise the debt ceiling, the U.S. moves closer to a possible default. CBS News' Errol Barnett has a look at why the U.S. handles its debt differently than any other nation.
Bank stocks tumble as First Republic deal fails to stem investor fears
Shares of Los Angeles lender PacWest Bancorp fell 28% as spooked investors bail from regional banks.
First Republic Bank seized by regulators, then sold to JPMorgan Chase
The regional lender, whose collapse is the second-biggest bank failure in U.S. history, is the third bank to be seized by regulators since March.
U.S. accuses Mexican cartel of targeting Americans in timeshare fraud
Cartel members apparently decided to branch out into scamming millions of dollars from people looking to sell their timeshares in Mexico.
Dolly Parton, country music legend, dies at age 80
Dolly Parton became an icon over her six-decade career as a Grammy-winning singer-songwriter, movie and TV star and theme park owner who donated millions to help others.
DOJ warns Kennedy Center could be knocked down if renovations don't move forward
The Trump administration said it may need to demolish the Kennedy Center if a plan to close the building for two years as part of a controversial renovation project pushed by President Trump and the organization's board is blocked.
First on CBS
CIA Director John Ratcliffe on secret trip in Russia
A U.S. Air Force Boeing C-17A Globemaster III transport plane was spotted at a Moscow airport, along with a U.S. diplomatic motorcade, according to public reports.
Dolly Parton remembered by fellow stars, politicans: "A true loss for millions"
President Trump said that he would be "lowering the American flag" throughout the nation for one week in Dolly Parton's honor.
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Iran says it's ready for new U.S. sanctions, has 2-year plan
Iran's economy minister said the country has been preparing for a long time for the sanctions U.S. Treasury Secretary Scott Bessent described as the "greatest financial offensive" ever.
Where will Lindsay Clancy end up after her murder trial? Legal experts explain.
Lindsay Clancy has pleaded not guilty to three counts of first-degree murder in the January 2023 strangulation deaths of her children.
Ontario's Doug Ford says Trump is "treating us like we're Communist China"
As a U.S.-Canada trade war sparks cross-border insults, Ontario Premier Doug Ford told CBS News he's hopeful the two sides can reach an agreement — but cautioned that "no deal is better than a bad deal."
Musk's SpaceX announces $100B plan for new spaceport in Louisiana
Elon Musk's space company plans to spend $100 billion to build a new spaceport in Louisiana to launch rockets, state officials and the company announced.
South Carolina holds runoff to replace late Sen. Lindsey Graham on ballot
Darline Graham, the sister of the late Sen. Lindsey Graham, is facing off against Rep. Ralph Norman for the GOP nomination.
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Bureau of Prisons No. 2 official who was pardoned for drug crimes departs
Josh Smith had a tense relationship with BOP's employees, and some staffers had raised questions about contracts awarded during his year-long tenure.
Ontario's Doug Ford says Trump is "treating us like we're Communist China"
As a U.S.-Canada trade war sparks cross-border insults, Ontario Premier Doug Ford told CBS News he's hopeful the two sides can reach an agreement — but cautioned that "no deal is better than a bad deal."
Survey pinpoints the behavior on planes that people find most annoying
Here's what travelers think about shared armrests, reclined seats and fellow passengers' use of tech on planes.
Musk's SpaceX announces $100 billion plan for new spaceport in Louisiana
Elon Musk's space company plans to spend $100 billion to build a new spaceport in Louisiana to launch rockets, state officials and the company announced.
Dolly Parton: An extraordinary life in pictures
Dolly Parton, the country music legend who became a feminist icon, has died at the age of 80. Here is a look back at her life in pictures.
MoneyWatch
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Ontario's Doug Ford says Trump is "treating us like we're Communist China"
As a U.S.-Canada trade war sparks cross-border insults, Ontario Premier Doug Ford told CBS News he's hopeful the two sides can reach an agreement — but cautioned that "no deal is better than a bad deal."
Survey pinpoints the behavior on planes that people find most annoying
Here's what travelers think about shared armrests, reclined seats and fellow passengers' use of tech on planes.
Musk's SpaceX announces $100 billion plan for new spaceport in Louisiana
Elon Musk's space company plans to spend $100 billion to build a new spaceport in Louisiana to launch rockets, state officials and the company announced.
SNAP restrictions cut soda sales but raise stigma concerns, study finds
Banning people from using food stamps to buy sugary drinks helps lower consumption, proponents say. Are such restrictions a good idea?
Canada announces tariffs of up to 50% on $20 billion in U.S. goods
Canadian government officials said they are also providing aid for workers and businesses that could be hurt by U.S.-imposed tariffs.
Politics
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Bureau of Prisons No. 2 official who was pardoned for drug crimes departs
Josh Smith had a tense relationship with BOP's employees, and some staffers had raised questions about contracts awarded during his year-long tenure.
Ontario's Doug Ford says Trump is "treating us like we're Communist China"
As a U.S.-Canada trade war sparks cross-border insults, Ontario Premier Doug Ford told CBS News he's hopeful the two sides can reach an agreement — but cautioned that "no deal is better than a bad deal."
DOJ warns Kennedy Center could be knocked down if renovations don't move forward
The Trump administration said it may need to demolish the Kennedy Center if a plan to close the building for two years as part of a controversial renovation project pushed by President Trump and the organization's board is blocked.
Feds consider charging ICE officer accused of shooting immigrant in Minnesota
The shooting took place in January during the Trump administration's immigration operation in Minnesota.
First on CBS
ICE releases father of U.S. Navy sailor serving on USS Abraham Lincoln
Luis Manuel Aviles Roa, the father of a U.S. Navy sailor onboard the USS Abraham Lincoln, was released by ICE on Tuesday, his family told CBS News.
HealthWatch
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Pennsylvania records first 2 measles deaths in 35 years
Pennsylvania has recorded its first two deaths connected to measles in 35 years.
At least 1 in 4 ex-NFL players who died from 2016 to 2021 had CTE, study finds
The rate is much higher than is seen in the general population. CTE is a brain disease linked to repeated blows to the head.
Trump and Kennedy's health industry deals are at risk of vanishing
The agreements, covering issues like drug pricing, reducing the use of synthetic food dyes, and cutting back on insurance prior authorization rules, were announced with fanfare and touted as victories.
8-year-old girl dies from brain-eating amoeba infection in Louisiana
Lillian Smart, 8, has died after being infected by an extremely rare brain-eating amoeba that is found in warm freshwater, her family said.
Trump puts autistic kids in the spotlight and cuts agencies built to protect them
Researchers and disability rights advocates warn that the dismantling of the Education Department and its erosions of civil rights oversight risk widening the disparities autistic children face.
World
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Gun-running ship located 78 years after being sunk by Israeli military
In June 1948, Israeli forces opened fire and sank the boat in waters off Tel Aviv on the orders of David Ben Gurion, Israel's first prime minister.
U.K. estate used as Wayne Manor in "Batman Begins" must be surveyed for bats
Since being built in the 1850s, Mentmore Towers has been featured in "Batman Begins" and other movies, but has fallen into disrepair.
Will the U.S. sanctions against Iran work if they don't include China?
Analysts say without meaningful sanctions against China, Iran will likely survive this latest round of financial punishment.
Russian ex-official says "unknown sources" could attack U.K. drone plants
Former senior Russian diplomat says U.K. factories making drones for Ukraine "could be attacked - not by Russia, but from unknown sources."
First on CBS
CIA Director John Ratcliffe on secret trip in Russia
A U.S. Air Force Boeing C-17A Globemaster III transport plane was spotted at a Moscow airport, along with a U.S. diplomatic motorcade, according to public reports.
Entertainment
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Entertainment
Johnny Cash's son on Dolly Parton's legacy
Johnny Cash's son, John Carter Cash, and his wife, Ana Cash, join "The Daily Report" to discuss Johnny's close bond with Dolly Parton, who died Tuesday at the age of 80.
Fans devastates over death of Dolly Parton
Country music fans and fellow musical legends are mourning the loss of superstar Dolly Parton, whose death was announced Tuesday. CBS News' Nicole Valdes has more.
Dolly Parton's "9 to 5" and the Canada trade war
Dolly Parton, whose death was announced by her family on Tuesday, didn't write "9 to 5" as a meditation on trade policy, but the current trade battle between the Trump White House and Canada speaks to a theme in the hit song. Major Garrett explains. Then, CBS News' Anthony Mason joins to unpack Parton's legacy.
The best of Dolly Parton with CBS News
Beloved country music legend Dolly Parton had died at age 80, her family announced on Tuesday. CBS News looks back at some of her best moments and interviews over the years.
Dolly Parton: An extraordinary life in pictures
Dolly Parton, the country music legend who became a feminist icon, has died at the age of 80. Here is a look back at her life in pictures.
Technology
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Musk's data centers push out family that's owned land for generations
A plant in Southaven, Mississippi, that powers Elon Musk's SpaceXAI data centers in the area has sparked backlash from residents concerned about noise and air pollution.
Elon Musk's data centers spark backlash
In Southaven, Mississippi, some residents are pushing back on SpaceXAI's expanding footprint in the region.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Key takeaways from China's robot games
China's World Humanoid Robot Games is a technological showcase, but also a possible glimpse into the future of robotics. Anna Coren reports.
How the Robot Games are going in Beijing
The World Humanoid Robot Games are underway in Beijing, China, in a stadium repurposed from the 2022 Winter Olympics. Many of the machines on display can now outrun and out-jump even the best real-life Olympians. Anna Coren has the story.
Science
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Invasive Joro spiders are "slowly spreading." Here's what to do if you see one.
The Great Smoky Mountains National Park told visitors Tuesday that invasive Joro spiders "may be hanging in a web near you."
A summer of extremes: Weathering a hotter world
July was the hottest month ever in the Lower 48 States – another escalation of our world into a hotter, more dangerous planet, where extreme weather events – such as heat waves, wildfires and hurricanes – will become more common and more extreme.
A summer of extremes: Weathering a hotter world
July was the hottest month ever in the Lower 48 States, breaking a record last set during the Dust Bowl – just another step in the escalation of our world into a hotter, more dangerous planet. Correspondent Jonathan Vigliotti talks with climate journalist Jeff Goodell and atmospheric scientist Maria Molina about how changes in Earth's climate are increasing the likelihood that extreme weather events – such as heat waves, wildfires and hurricanes – will become more common and more extreme.
Views of the total solar eclipse in Europe
A total solar eclipse was visible in parts of Europe for the first time since 1912. Rob Marciano reports.
Europe sees total solar eclipse
A total solar eclipse turned day into night across a slice of Europe and North America on Wednesday, and put millions in unique contact with the heavens above. Meteorologist Rob Marciano reports from Spain.
Crime
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Crime
Doctor says Clancy's actions were criminal
Forensic psychologist Dr. Kirk Heilbrun took the stand in Lindsay Clancy's trial for the killings of her three children on Tuesday, testifying that he felt Clancy was criminally liable despite claims of postpartum psychosis. CBS News' Shanelle Kaul has the details.
Breaking down Day 20 of Lindsay Clancy trial
Two more witnesses testified in the Lindsay Clancy trial on Tuesday. Clancy, who has admitted to killing her children, has pleaded not guilty, arguing she had postpartum psychosis. CBS News correspondent Shanelle Kaul reports.
Prosecution reprimanded in Lindsay Clancy trial
Closing arguments are expected this week in Lindsay Clancy's murder trial for the killings of her three young children. Attorney and legal analyst Joe Tamburino joins CBS News to discuss the case and a moment on Monday where witness testimony was cut short over comments about religion.
Lindsay Clancy's faith is not on trial
The judge in the murder trial of Lindsay Clancy denied a mistrial request from her attorneys but scolded the prosecution after a witness brought up Clancy's religious beliefs. CBS News' Shanelle Kaul reports, and legal analyst Joe Tamburino weighs in.
Dramatic moment in Lindsay Clancy trial
Lindsay Clancy's defense team asked for a mistrial after a prosecution witness brought up Clancy's religious beliefs. The judge denied the request but reprimanded prosecutors. CBS News legal contributor Caroline Polisi has the latest analysis.
Space
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Trump to honor Artemis II crew with nation's top space medal
President Trump plans to award the Congressional Space Medal of Honor to the crew of NASA's Artemis II mission in a ceremony Aug. 28.
NASA's Swift telescope will plunge toward Earth after rescue mission called off
The mission to save NASA's sinking space telescope has been called off, dooming the telescope to a fiery reentry later this year.
NASA images show 60-foot-wide crater on moon after SpaceX rocket booster crash
A NASA spacecraft circling the moon is providing the sharpest views yet of the crater carved by a crashing SpaceX rocket.
New space object called "black hole star" discovered by astronomers
The newly discovered object looks like a star the size of our solar system, but produces 100 billion times more energy than any star.
Stunning photos show total solar eclipse over Europe
The only total solar eclipse of 2026 crossed the Northern Hemisphere Wednesday, with a path of totality across parts of Greenland, Iceland and northern Spain. See photos and video from the best viewing locations.
Latest Galleries
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Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Dolly Parton: An extraordinary life in pictures
Dolly Parton, the country music legend who became a feminist icon, has died at the age of 80. Here is a look back at her life in pictures.
Summer music highlights of 2026
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Investigating the death of designer Sylvie Cachay
Sylvie Cachay was found dead in an overflowing bathtub at the exclusive Soho House in New York City on Dec. 9, 2010. A water leak at the hotel gave away a timeline that may have revealed her killer.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
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South Carolina primary analysis
Darline Graham, the sister of the late Republican senator Lindsay Graham, is facing Rep. Ralph Norman in South Carolina's special primary runoff on Tuesday. CBS News' senior White House and political correspondent Ed O'Keefe reports.
Johnny Cash's son on Dolly Parton's legacy
Johnny Cash's son, John Carter Cash, and his wife, Ana Cash, join "The Daily Report" to discuss Johnny's close bond with Dolly Parton, who died Tuesday at the age of 80.
Doctor says Clancy's actions were criminal
Forensic psychologist Dr. Kirk Heilbrun took the stand in Lindsay Clancy's trial for the killings of her three children on Tuesday, testifying that he felt Clancy was criminally liable despite claims of postpartum psychosis. CBS News' Shanelle Kaul has the details.
El-Sayed's contentious Fox News interview
Michigan Democratic Senate candidate Abdul El-Sayed joined Fox News's Jesse Watters on Monday night for a lively interview. Democratic strategist and CBS News political contributor Chuck Rocha joins with analysis.
Canada sets retaliatory tariffs on U.S.
President Trump threatened to rename Lake Ontario to Lake America on Tuesday as Canada announced retaliatory tariffs against the United States as the countries' trade war escalates. CBS News' Olivia Rinaldi has more.