Commerce News
Commerce
U.S. Reps. Patrick McHenry and Glenn Thompson, chairmen of the House Financial Services Committee and the House Committee on Agriculture, respectively, recently released a draft bill aiming to improve regulation of the digital asset industry.
Commerce
'Regulation by enforcement, and lawsuit by media': Despite calls for smart regulation, SEC sues crypto industry leaders
Following the announcement the US Securities and Exchange Commission had sued Binance, the world’s largest cryptocurrency exchange, prolific crypto legal commentator John Deaton criticized the SEC’s tactics of “regulation by enforcement” and “lawsuit by media” to address cryptocurrencies.
Commerce
Apple enters massive deal with Broadcom to develop 5G components: 'We'll continue to deepen our investments in the US'
Apple recently announced that it is entering a multiyear, multibillion-dollar agreement with U.S. technology and advanced manufacturing company Broadcom.
Commerce
Winkler: 'We will hold senior executives accountable for conduct that violates the securities laws'
The Securities and Exchange Commission reached a settlement with the former head of Wells Fargo and Company's Community Bank, involving a $3 million penalty.
Commerce
Lummis: 'I will not let President Biden tax the digital asset industry out of existence'
Sen. Cynthia Lummis (R-Wyo.) said she thinks the proposed Digital Asset Mining Energy (DAME) tax constitutes unfair targeting of the digital asset industry.
Commerce
Raimondo: Saunders' work has 'strengthened our relationships with trading partners'
Secretary of Commerce Gina Raimondo expressed her full support for Ian Saunders as the U.S. candidate for secretary general of the World Customs Organization.
Commerce
Raimondo: 'IPEF Supply Chain Agreement would be a win for American consumers, workers and businesses'
The United States, along with its Indo-Pacific Economic Framework partners, has reached a significant milestone by concluding negotiations on the IPEF Supply Chain Agreement.
Commerce
Vedova: 'Boston Scientific and M.I. Tech have abandoned their proposed transaction'
Boston Scientific Corporation confirmed the termination of its original agreement to acquire a majority stake in M.I.Tech Company, Ltd.
Commerce
Leading figures and organizations worldwide sign statement on mitigating AI risk: ‘a global priority’
In a significant and concerted move towards global consciousness about AI risks, several notable figures in AI research, policy-making, education, and other sectors have endorsed a statement issued by the Center for AI Safety.
Commerce
Raimondo: 'NOAA will be able to deliver even more accurate forecasts'
National Oceanic and Atmospheric Administration forecasters predict near-normal hurricane activity in the Atlantic for the upcoming season.
Commerce
Commerce Department to accept comments on Lake Erie marine sanctuary till July 18
The U.S. Department of Commerce will accept comments until July 18 during the first steps of the department's National Oceanic and Atmospheric Administration designating a new national marine sanctuary in Lake Erie, adjacent to Pennsylvania.
Commerce
Yale’s Gewirtz: ‘China official media flatly wrong that de-risking is same as de-coupling’
Paul Gewirtz, a law professor at Yale and Senior Fellow on Foreign Policy at the John L. Thornton China Center, penned a commentary piece for the Brookings Institute comparing the terms "de-risking" and "de-coupling."
Commerce
Levine: 'Premom broke its promises and compromised consumers’ privacy'
The Federal Trade Commission recently charged Premom, the developer of a fertility app, for deceptive practices and the sharing of users' personal information with third parties illegally.
Commerce
U.S. Trade Ambassador Tai promotes new global trade relationships to mark World Trade Week
U.S. Trade Representative Katherine Tai released a statement May 22 to commemorate of the start of World Trade Week, emphasizing the importance of trade on a global scale.
Commerce
Clark: 'The U.S.-China relationship not only demands serious dialogue but also leadership and action'
The U.S. Chamber of Commerce expressed concerns over mounting risks posed by Chinese policies.
Commerce
Lago: Joint Economic Commission 'will help facilitate collaboration on Egypt’s ambitious development goals'
Under Secretary of Commerce for International Trade Marisa Lago led a U.S. delegation on an official visit to Cairo to co-chair the inaugural meeting of the U.S.-Egypt Joint Economic Commission.
Commerce
U.S. wants Mexico to review alleged denail of worker's rights at Goodyear SLP
The U.S. has asked Mexico to review the treatment of workers at a Goodyear facility in San Luis Potosí after workers rejected a collective bargaining agreement and complained that their rights to organize weren't being recognized.
Commerce
Dutch Medical Supplier Philips ordered to pay more than $62 million to settle FCPA charges
Amsterdam-based company Koninklijke Philips N.V. has been ordered to pay more than $62 million to settle charges brought by the Securities and Exchange Commission (SEC) for violations of the Foreign Corrupt Practices Act in its sales of medical diagnostic equipment in China.
Commerce
Buffett on AI: 'It can do all kinds of things and when something can do all kinds of things I get a little bit worried'
Warren Buffett, chairman and CEO of Berkshire Hathaway, along with Vice Chairman Charlie Munger, recently spoke out against Artificial Intelligence at an annual meeting, where Buffett made dire comparisons to the atom bomb.
Commerce
Citizens Bank reaches CFPB settlement for TIL violations, could face $9 million penalty
Citizens Bank recently reached a settlement with the CFPB to resolve claims that the bank violated regulations and laws protecting consumers who dispute charges on their credit card accounts.
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