In a tweet, Tesla Inc’s CEO Elon Musk said, he will be paying more than $11 billion in taxes this year. The development comes in the wake of Democratic Senator Elizabeth Warren tweeting that Musk should pay taxes and stop “freeloading… Read More ›
Senator
US Senate passes bill than bans import of products from Xinjiang region
In a significant development, the U.S. Senate has passed a bill that bans the import of products from China’s Xinjiang region. The Uyghur Forced Labor Prevention Act creates a “rebuttable presumption” on the assumption that goods manufactured in Xinjiang are… Read More ›
DOJ’s Antitrust Division and the Justice Department’s budget gets boost from the President
In a significant development U.S. President Joe Biden has proposed a hike of 11% in budgetary funding for the Federal Trade Commission and the Justice Department’s Antitrust Division, both of which have filed major lawsuits against big tech companies in… Read More ›
U.S. revokes sanction waiver against Israeli mining company Gertler
In a significant development, the United States revoked a sanctions waiver to Israeli mining magnate Dan Gertler, which was issued during the last days of the Trump Administration. In a statement, the Treasury Department said, exempting Gertler from sanctions was… Read More ›
Trump Administration mulling options to include China’s Ant Group to Entity List
According to two sources familiar with the matter at hand, the U.S. State Department has submitted a proposal to the Trump administration to add China’s Ant Group to its Entity List. The development comes at a time when when the… Read More ›
Acquisition of GNC by Chinese company should undergo CIFUS review: Senator, Marco Rubio
In a significant development, U.S. Senator Marco Rubio has asked for a national security review of General Nutrition Centers plans to sell itself to Harbin Pharmaceutical Group Co Ltd. Rubio made the request in a letter to Treasury Secretary Steven… Read More ›
Climate Action Rebate Act could generate $2.5 trillion in 10 years
Plans are afoot to get bipartisan backing for this bill. On Thursday, two Democratic U.S. senators are set to unveil a bill which aims to reduce climate change by slapping a fee on oil, natural gas and coal; the bulk… Read More ›
Lockheed Martin’s Coatesville Sikorsky helicopter plant to remain open at Trump’s request
Lockheed Martin’s 465 employees at the plant will continue to have jobs. The lack of a specific plans however clouds their long term job prospects at the plant. Following U.S. President Donald Trump requesting Lockheed Martin Corp’s CEO to keep… Read More ›
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