♦ US President-elect Donald Trump has nominated billionaire Scott Bessent as Treasury Secretary. He is CEO of Key Square Group and a seasoned investor.

♦ As Treasury secretary, Bessent will essentially be the highest-ranking US economic official, responsible for maintaining the plumbing of the world's largest economy, from collecting taxes and paying the nation's bills to managing the $28.6-trillion Treasury debt market and overseeing financial regulation, including handling and preventing market crises.

♦ The Treasury boss also runs US financial sanctions policy.