The US Department of the Treasury has confirmed that the process to feature a woman’s face on paper currency will commence.

Medtronic, the Minnesota- based medical device maker that’s planning to take an Irish tax address, may become one of the biggest losers under rules announced today by the Obama administration.

German finance minister Wolfgang Schaeuble says he is tired of calls to sacrifice deficit reduction for economic growth, just as US Treasury secretary Jacob J Lew pressed Germany to boost domestic demand.

The credibility of Europe’s efforts to restore confidence in its financial system hangs in the balance as lawmakers try to broker a deal on a bank-failure authority for the 18-nation eurozone.

Congress needs to pass a debt ceiling increase by Oct 17 or the US will default, said Treasury Secretary Jacob J Lew.