Tag: Region US
DOJ in talks to drop criminal prosecution against Boeing
The United States Department of Justice is in talks to drop a criminal prosecution against Boeing (BOE, Washington National) stemming from two fatal B737 MAX crashes, according to a May 18 court filing. Instead, the DOJ says the matter is likely to be resolved through a settlement that will not result in a criminal conviction. Multiple outlets reported on a May 16 meeting between the DOJ and law firms representing some of the 346 people killed in the crashes in 2018 and 2019. Boeing faces…
Texas alleges BlackRock, State Street, and Vanguard used their holdings in coal companies to reduce U.S. coal production
Today, the Justice Department, joined by the Federal Trade Commission (the “Agencies”) filed a statement of interest in the Eastern District of Texas in the case of Texas et al. v. BlackRock, Inc. The States’ lawsuit—led by the Texas Attorney General—alleges that BlackRock, State Street, and Vanguard used their management of stock in competing coal companies to induce reductions in output, resulting in higher energy prices for American consumers. This is the first formal statement by the Agencies in federal…
Former Defense Contractor Pleads Guilty to Tax Crimes
A former defense contractor pleaded guilty today to tax crimes related to his scheme to defraud the United States and evade taxes on income that he earned from his contracts with the U.S. Department of Defense. The following is according to court documents and statements made in court: Douglas Edelman founded and owned 50% of Mina Corp. and Red Star Enterprises (Mina/Red Star), a defense contracting business that received more than $7 billion from contracts with the U.S. Department of…
Ukraine, U.S. Sign Minerals Deal, Tying Trump to Kyiv
Trump had originally sought $500 billion in mineral wealth — around four times what the United States has contributed to Ukraine since the war. U.S. presence against ‘bad actors’ Trump has balked at offering security guarantees to Ukraine and has rejected its aspiration to join NATO. But Trump said on Wednesday that a U.S. presence on the ground would benefit Ukraine. “The American presence will, I think, keep a lot of bad actors out of the country or certainly out…
U.S. Attorneys for Southwestern Border Districts Charge More than 990 “Illegal Aliens”
Since the inauguration of President Trump, the Department of Justice is playing a critical role in Operation Take back America, a nationwide initiative to repel the invasion of illegal immigration, achieve total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN). Last week, the U.S. Attorneys for Arizona, Central…
Rubio calls US NATO allies ‘a bunch of junior partners’
The US secretary of state has urged member countries to increase defense spending US Secretary of State Marco Rubio has renewed pressure on NATO members to increase their defense contributions, describing the current arrangement within the military bloc as the US and “a bunch of junior partners.” While being part of NATO is in the US’ interests, its members must shoulder their share of the responsibilities, otherwise it’s not really an alliance, but a “dependency,” he told The Free Press…
Canada’s Role in a Shifting Global Order — with Mark Carney | Prof G Conversations
Mark Carney, Canada’s 24th Prime Minister and leader of the Liberal Party, joins Scott to discuss the country’s economic outlook, how Canada fits into a shifting global order, and whether the U.S.-Canada relationship can be repaired amid rising trade tensions.
China orders its airlines to stop accepting Boeing jets, report says
The Chinese government has told the country’s domestic airlines to stop accepting deliveries of Boeing jets as a trade war between the world’s two largest economies escalates, Bloomberg News reports.China is also instructing its carriers to stop buying airline parts and other components from U.S. companies, according to Bloomberg, which cited people familiar with the situation.Boeing didn’t immediately respond to a request for comment. The aviation giant’s shares fell $4.88, or 3%, to $154.40 in pre-market trading. The order to stop…
Trump freezes over $2bn in Harvard funding over ‘non-compliance’
The move comes after the university rejected the US administration’s request for policy changes The administration of US President Donald Trump has announced it is freezing more than more than $2.2 billion in grants and $60 million in contracts to Harvard University, after the Ivy League school rejected a list of demands from the White House. A major clash between the administration and some of the country’s top universities has been unfolding in response to how the pro-Palestinian student protests…
Why bonds, not stocks, could predict the next economic crisis in the US
United States President Donald Trump’s tariffs have roiled financial markets globally. But while Trump’s trade salvoes have sent stock markets on a rollercoaster ride, it is the turmoil in the bond markets – specifically the fall of bonds in tandem with stocks – that has prompted the most concern among economists. What are bonds? Bonds are a type of investment that involves the buyer lending money to a government or corporation for a specified period. In return for their investment,…
Did Trump really ‘exempt’ Chinese phones, chips from tariffs?
United States President Donald Trump has threatened new tariffs on Chinese electronic goods, three days after his administration announced exemptions on smartphones, laptops, flash drives and a host of other tech products from levies he has announced since April 2. Those exemptions provided relief to US tech companies reliant on Chinese manufacturing, like Apple and chip company Nvidia, which saw their stocks rise considerably after the release of Friday’s notice. Then came Monday’s announcement, which sparked criticism of Trump over…
China halts exports of critical materials amid trade war with US – NYT
China has halted exports of several critical rare earth metals and magnets amid a deepening trade war with the US, the New York Times has reported. The move follows US President Donald Trump’s decision to drastically raise tariffs on imports from China and other countries earlier this month.
China adds 12 US entities to export control list, adds 6 US firms to unreliable entity list
China’s Ministry of Commence (MOFCOM) said on Wednesday that it has added 12 US entities to the export control list. In order to safeguard national security and interests and fulfill international obligations such as non-proliferation, in accordance with the relevant provisions of the Export Control Law of China and the regulations on export control of dual-use items, the MOFCOM issued an announcement to include 12 US entities in the export control list and prohibit the export of dual-use items to…
China hits back at Trump with 34% tariff on U.S. imports
China announced a 34% tariff on all products imported from the U.S. on Friday, escalating the trade war between the world’s two biggest economies. The move came two days after President Donald Trump imposed the same tariff on all Chinese imports as part of what he called reciprocal tariffs on a long list of U.S. trade partners. Combined with 20% in other levies that Trump has imposed on Chinese goods since returning to office in January, the total U.S. tariff…
Jeep & Chrysler parent Stellantis lays off 900 US workers as tariffs bite
In sum:
Stellantis pauses production in Mexico and Canada due to tariffs
Automakers face 25% import tax on imported autos
UAW criticizes Stellantis for unnecessary layoffs
US automaker shares fall sharply
Musk’s father says Tesla tycoon admires Putin
Errol Musk says his family looks up to the Russian leader for his calm leadership and logical speeches Errol Musk has said that his son Elon and their family admire Russian President Vladimir Putin. Speaking to the BBC in an interview, the billionaire’s father described the head of state as a “strong leader” and praised his speeches as logical. Elon Musk, CEO of Tesla and SpaceX, also leads the US Department of Government Efficiency (DOGE) as part of US President…