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Musk team now has access to US' payment system
Financial Express Chandigarh
|February 03, 2025
THE DEPARTMENT OF Government Efficiency, run by President Donald Trump's billionaire adviser and Tesla CEO Elon Musk, has gained access to sensitive Treasury data, according to two people familiar with the situation.
The system sends out more than $6 trillion per year in payments on behalf of federal agencies and contains the personal information of millions of Americans who receive Social Security payments, tax refunds and other monies from the government.
The move by DOGE, a Trump administration task force assigned to find ways to fire federal workers, cut programs and slash federal regulations, means it could have wide leeway to access important taxpayer data, among other things.
The New York Times first reported the news of the group's access of the massive federal payment system.
The two people who spoke to The Associated Press spoke on condition of anonymity because they were not authorized to speak publicly.
यह कहानी Financial Express Chandigarh के February 03, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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Chevron, Quantum eye $22-bn Lukoil assets
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Equity asset growth for FPIs, DIIs in 2025 at three-year low
THE GROWTH IN equity assets of both foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) slowed to a threeyear low at 4.3% and 20.9%, respectively, in 2025, NSDL data show.
1 min
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Financial Express Chandigarh
US military seizes Russian oil tanker
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1 min
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Financial Express Chandigarh
Lodha posts record pre-sales in Dec qtr
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1 min
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Financial Express Chandigarh
Musk won’t fix Grok’s fake AI nudes. A ban would
WHEN JULIE YUKARI posted a New Year's Eve photo in a red dress with her cat, she didn't expect X users to tag Grok asking it to undress her.
3 mins
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Financial Express Chandigarh
Titan eyes leadership in lab-made diamonds
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2 mins
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The last ring: When India's village phone fell silent
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‘Expect ₹6L-cr equity capital raise in 2026’
Equity capital raising is likely to rebound to ₹ 6 lakh crore and M&A activity may climb to $135 billion in CY2026, S Ramesh, MD & CEO of Kotak Investment Banking, tells Kshipra Petkar and Mahesh Nayak in an interview. Geopo- litical risks, however, could briefly shut market windows even as long-term activity stays resilient, he says. Excerpts:
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Financial Express Chandigarh
B’desh talks defence deal with Pakistan
THE AIR FORCE chiefs of Pakistan and Bangladesh held talks on a potential pact covering the sale of JF-17 Thunderfighter jets to Dhaka, Pakistan’s military said, as Islamabad widens its arms supply ambitions and beefs up ties with Bangladesh.
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