Biden administration announces Chips Act implementation team
The White House and Commerce Department announced the team that will oversee the doling out of $52 billion in federal subsidies for the semiconductor industry, pledging strict oversight to “responsibly spend taxpayer dollars.”washingtonpost.com
House panel rejects drug pricing plan in setback to Biden
The defeat of the drug pricing language did not shut down Democrats' path forward on the proposal because the House Ways and Means Committee is deliberating on nearly identical provisions. The sessions underscored a White House drive to win the unanimous Democratic support the huge plan will need to survive in the 50-50 Senate. Sinema spokesman John Labombard had a positive assessment of the senator's White House session, a good sign in a process that has seen the party's progressives and moderates stake out conflicting demands. The White House meetings came as the last of 13 House committees were pushing toward completing work Wednesday on their individual sections of the overall bill. White House press secretary Jen Psaki told reporters Wednesday that they expect Congress to move the legislation before an international climate conference in November.wftv.com
Gymnast Aly Raisman reunites with dog who went missing
People Raisman Missing Dog FILE - In this July 24, 2018 file photo, Olympic gold medalist Aly Raisman listens to testimony during a Senate Commerce subcommittee hearing in Washington. Raisman is looking for her beloved dog, who ran away scared during a weekend fireworks show in Boston. (AP Photo/Susan Walsh, File) (Susan Walsh)BOSTON — (AP) — Olympic gymnast Aly Raisman was reunited with her beloved dog Mylo, a week after he ran off after being spooked by fireworks in Boston. Raisman announced Mylo's return in a tweet Friday night, six days after she reported the 35-pound brown dog was missing. A six-time Olympic medalist, Raisman is a Massachusetts native who served as captain for both the 2012 and 2016 U.S. women’s Olympic gymnastics teams.wftv.com
Korean firm to invest $10M, hire 285, to make battery parts
A Korean auto supplier will invest $10 million and hire 285 people northeast of Atlanta to make parts that will accompany electric vehicle batteries that SK Innovation will produce nearby. Duckyang Industrial Co. said Thursday that the plant in Braselton will make battery modules and energy storage systems for SK Innovation's $2.6 billion, 2,600-worker plant in Commerce. The company already supplies cockpit modules, a dashboard assembly of more than 130 parts that includes the steering wheel, instruments and electronics, to automakers including Kia and Hyundai.news.yahoo.com
AP Interview: Emmert says poor communication led to inequity
“Clearly we should have had better communication between my teams,” Emmert said in a 30-minute interview with The Associated Press on Friday. "Clearly we should have really had a better focus on a number of those details that are hardly details, but are really, really important. “We dropped the ball in San Antonio in the women’s basketball tournament,” Emmert said. Emmert said the popular nickname could be used for the women's tournament if organizers and those who support the game want it. “The mark March Madness isn’t exclusively the men’s basketball mark and it wasn’t intended in that context,” he said.
Retail sales expected to be strong in January, helped by stimulus checks
Economists expect retail sales rose by 1.2% after a surprise 0.7% decline in December, according to Dow Jones. The January retail sales report is to be released at 8:30 a.m. ET Wednesday, and it is also expected to show sales rose 1% when excluding vehicles. Cortera said the level is an increase of 5% above December levels, suggesting retail sales will also increase. "The credit card and debit card data suggest retail sales were fairly strong," said Diane Swonk, chief economist at Grant Thornton.cnbc.com
Russians outsmarted DHS cyber-attack detection program in hack
Russians outsmarted DHS cyber-attack detection program in hack Investigators believe Russia is behind a massive cyber hack that hit several federal agencies, including the Treasury, Commerce, and Justice Departments. Sunday, "60 Minutes" investigates the largest and most sophisticated cybersecurity breach of federal systems in U.S. history.cbsnews.com
Stocks making the biggest moves after the bell: Cal-Maine Foods, Myriad Genetics & more
Check out the companies making headlines after the bell on Tuesday:Cal-Maine Foods — Cal-Maine Foods reported a surprise profit for its fiscal second quarter, sending the stock up more than 2% after-hours trading. The company posted earnings per share of 25 cents on revenue of $347.3 million. Myriad Genetics — Shares of the biotechnology company rose nearly 2% on news Myriad will explore "strategic alternatives" for its autoimmune business. Smart Global Holdings — Smart Global posted fiscal first-quarter earnings per share that were better than expected, lifting the computer-memory manufacturer's stock up by 2.4%. Smart Global reported adjusted earnings per share of 78 cents, topping a FactSet estimate of 70 cents per share.cnbc.com
Investigators looking at more than 500 leads in Nashville bombing, officials say
Debris litters the road near the site of an explosion in the area of Second and Commerce in Nashville, Tennessee, U.S. December 25, 2020. Investigators have received more than 500 tips about the Christmas morning explosion in Nashville but have not determined the identity of the bomber, officials said Saturday afternoon. When asked about reports that investigators have identified a person of interest in the case, Korneski said the investigation was still looking at several individuals. NBC News, citing multiple senior law enforcement officials, reported that investigators were searching the home of Anthony Quinn Warner, 63, in connection with the bombing. Social media users have reported issues with phone and internet service in Nashville following the blast.cnbc.com
Nike shares rise as pandemic fuels sneaker maker's online growth, annual revenue outlook gets a boost
With this momentum, Nike raised its fiscal 2021 outlook, calling for revenue to rise at a low-teens percentage year over year. Donahoe said Nike's profit outlook is improving, too, as it plans for less discounting in the coming quarters. Even prior to the pandemic, Nike was shifting its investments toward its own stores, websites, and key wholesale partners, lessening its need on other retail partners. Still, foot traffic at Nike's stores in North America, Europe and Latin America remains down year-over-year due, in part, to social distancing measures, the company said. Ninety percent of Nike's stores are currently open, though some are operating on reduced hours.cnbc.com
Russia denies involvement in hack of U.S. government agencies
Russia denies involvement in hack of U.S. government agencies Hackers breached several U.S. government agencies, including the Treasury and Commerce departments. Russia, a leading suspect behind the cyberattack, is denying any involvement. CBS News senior investigative correspondent Catherine Herridge has more, and CBS News technology reporter Dan Patterson joined CBSN to discuss the investigation, plus new data on the reach of misinformation on social media.cbsnews.com
US agencies hacked in monthslong global cyberspying campaign
The threat apparently came from the same cyberespionage campaign that has afflicted FireEye, foreign governments and major corporations, and the FBI was investigating. FireEye’s customers include federal, state and local governments and top global corporations. Cybersecurity experts said last week that they considered Russian state hackers to be the main suspect in the FireEye hack. Federal government agencies have long been attractive targets for foreign hackers. “I suspect that there’s a number of other (federal) agencies we’re going to hear from this week that have also been hit,” Williams added.
AP Interview: Emmert says NCAA must stay open to reform
FILE - In this Feb. 11, 2020, file photo, NCAA President Mark Emmert testifies during a Senate Commerce subcommittee hearing on intercollegiate athlete compensation on Capitol Hill in Washington. And the sporting world hasn’t collapsed,” Emmert told AP. It recommended the creation of the National College Football Association, an independent body to oversee FBS. Major college football, the commission concluded, has created inequities across all NCAA sports and hinder the association's ability to govern equitably. Emmert called the recommendation “exactly the wrong thing to do.” He told AP he agrees football has "an outsized influence” over college sports.
OECD Working Group on Bribery Issues Report Commending United States for Maintaining Leading Role in the Fight Against Transnational Corruption
The Working Group on Bribery of the Organisation for Economic Co-operation and Development (OECD Working Group) issued its Phase 4 Report of the United States today, announced the U.S. In releasing the report, the 44-country OECD Working Group applauded the United States for its sustained and outstanding commitment to enforcing its foreign bribery laws. The report highlights the United States’ increasing foreign bribery enforcement level since the OECD Working Group’s Phase 3 Report in 2010. The OECD Working Group has been instrumental in leading global efforts to fight bribery of foreign officials. Further, the OECD Working Group’s law enforcement officers’ meetings serve an important role in fostering contacts between global law enforcement officials who focus on foreign bribery matters.justice.gov
Six former secretaries of Commerce endorse Joe Biden
U.S. Democratic presidential candidate Joe Biden smiles during a Voter Mobilization Event campaign stop at the Cincinnati Museum Center at Union Terminal in Cincinnati, Ohio, October 12, 2020. WASHINGTON — A bipartisan group of six former secretaries of Commerce has endorsed Democrat Joe Biden for president, in a new letter provided exclusively to CNBC. The former secretaries wrote that their decision to endorse the former vice president stems from a shared sense of alarm over the economic recession caused by the coronavirus pandemic. The letter is noteworthy because the job of Commerce secretary is typically one of the least politicized posts in a presidential Cabinet. For example, one of the Democratic signatories, Daley, appeared on CNBC in late 2016 to praise Trump's decision to name investor Wilbur Ross as secretary of Commerce.cnbc.com
Need some income as pandemic continues to unfold? Here are jobs that are more in-demand than ever
There are many jobs that are high in demand during the coronavirus pandemic, which, at the very least, can be a short-term Band-Aid to the financial worries people have. Here are some jobs in which people can make some cash, right now:Delivery driversYou could drive for a number of companies right now. With the pandemic further driving online retail sales, employees who can deliver those increased orders for companies are like gold right now. Grocery store helpThis isn’t much of a revelation, especially for those who have waited in long lines and seen empty shelves at grocery stores in recent weeks. Did we miss any other jobs that have grown in demand in the wake of the coronavirus pandemic?
Trump administration moves toward blocking more sales to Huawei, sources say
The U.S. government is nearing publication of a rule that would vastly expand its powers to block shipments of foreign-made goods to China's Huawei, as it seeks to squeeze the blacklisted telecoms company, two sources said. The U.S. Commerce Department in May placed Huawei on a trade blacklist, citing national security concerns. That allowed the U.S. government to restrict sales of U.S.-made goods to the company and a small number of items made abroad that contain U.S. technology. This would be broadened to include low-tech items made abroad that are based on U.S. technology and shipped to Huawei, the people said. In December, Huawei, the world's largest smartphone maker, reported an 18 percent jump in revenue for 2019 and a 20 percent increase in shipments of smartphones.cnbc.com
Trump is now blacklisting several big Chinese companies here's what they do and why they are important
Chairman of Hangzhou Hiklp Electronics Co., Ltd. Chen Zongnian delivers a speech during the 2nd World Intelligence Congress (WIC 2018) at Tianjin Meijiang Convention and Exhibition Center on May 16, 2018 in Tianjin, China. The Department of Commerce added 28 new companies and agencies to its running "blacklist" of Chinese firms banned from doing business in the United States, with a notable focus on companies that specialize in artificial intelligence, machine learning and digital surveillance. The move has already hit suppliers to the companies named, and roiled markets Tuesday on fears of wavering trade talks. Together, the companies show clearly the direction Commerce will continue to take with its blacklist. Namely, it's looking at Chinese companies that are already global, that provide tech infrastructure that is hard to replace once it's been acquired, and that could feasibly be used to bolster China's intelligence and military organizations.cnbc.com
US broadens Huawei blacklist but extends limited reprieve
At the same time, Commerce said it was renewing a temporary general license that permits companies in the United States to do business with Huawei on a limited basis, such as to provide security updates to Huawei devices. On Sunday, Trump tweeted that the United States is "doing very well with China, and talking!" The United States has long argued that Huawei poses a national security threat, and has claimed Beijing can use the company's products to spy on other nations. Huawei smartphones run on Google's Android operating system and come with popular apps like Google Maps and Gmail. Without access to Google services, Huawei's devices become a lot less attractive to users outside of China.
Congress seeks briefing on potential threat to U.S. heparin supply
WASHINGTON (Reuters) - Leaders of the U.S. House Energy and Commerce Committee on Tuesday asked the Food and Drug Administration about the potential threat to the U.S. heparin supply due to the outbreak of African swine fever in China. About 60 percent of the crude heparin used to make finished heparin in the United states is sourced from China, the letter said. Until the 1990s, the United States used sources of heparin produced from bovine sources until concerns were raised about Mad Cow disease. African swine fever, for which there is no cure and no vaccine, kills almost all infected pigs but does not harm people. As many as half of Chinas breeding pigs have either died from African swine fever or been slaughtered because of the disease, industry insiders estimate.feeds.reuters.com