A global deal to introduce a minimum tax rate on company profits hit a fresh roadblock Friday after Hungary vetoed a European Union agreement to implement the measure, which is…

WASHINGTON—The federal budget ran a $66 billion deficit during May, a 50% decline from a year earlier as the government slashed spending on pandemic programs. Federal outlays in May fell…

WASHINGTON—The U.S. and its allies are searching for ways to limit further surges in global oil prices, attempting to balance efforts to cut off Russia’s revenue from its energy sales…

WASHINGTON—Treasury Secretary Janet Yellen said elevated gasoline prices—near $5 a gallon—are likely to persist, but she doesn’t see a slowing U.S. economy slipping into recession. Disruptions in global oil markets…

WASHINGTON—The Internal Revenue Service raised the mileage rate used for calculating business tax deductions for vehicle use, making a rare midyear change in response to increasing gasoline prices. The new…

WASHINGTON—Treasury Secretary Janet Yellen said the Biden administration is considering ways to reconfigure tariffs on imports from China as a means of helping to ease decades-high inflation. Ms. Yellen, speaking…

TOKYO—When Japan’s leader released his economic vision Tuesday, he left out an important date. Prime Minister Fumio Kishida deleted a pledge from earlier government statements calling for Japan’s budget to…

WASHINGTON—Treasury Secretary Janet Yellen denied that she tried to decrease the size of the $1.9 trillion rescue package Democrats approved in early 2021, defending legislation that is now a focus…

Kohl’s Corp. received takeover bids from private-equity firm Sycamore Partners and retail holding company Franchise Group Inc. , according to people familiar with the matter. Sycamore’s bid values the Wisconsin…

WASHINGTON—The Biden administration accused the Russian government of helping Iran’s blacklisted military unit sell hundreds of millions of dollars of oil around the globe, as Washington levied a barrage of…