U.s. Treasury, Treasury | featured news

The upcoming initial public offering of General Motors Co will be open to the widest possible range of investors, including both overseas funds and U.S. retail buyers, the U.S. Treasury said on Friday.

Election watchdogs have directed Joe Biden's 2008 presidential campaign to pay the U.S Treasury more than $219,000 to resolve issues caused by sloppy bookkeeping and accepting excessive contributions, including a discounted flight on a private jet.

The Treasury Department said Monday it will begin selling the stake it owns in Citigroup Inc., which could result in a profit to the government of about $7.5 billion. Government received 7.7B shares in exchange for $25B it gave the banking firm during credit crisis.

China gave up its title to Japan as the largest holder of U.S. Treasury securities in December as foreigners bought U.S. assets at a brisk pace.

The department persuaded some big banks to pay more than market estimates to repurchase warrants issued to the government during the financial crisis, suggesting taxpayers could benefit from costly financial-rescue programs.