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Tariff gamble brings political risk for Trump
Reuters reports that President Donald Trump’s announcement of reciprocal tariffs is a political risk for his party and could bring economic pain to his constituents if his promises to overhaul the U.S. economy do not deliver. Experts believe it will take years to revitalize U.S. manufacturing, alter supply chains and reshore production, the goals which…
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French prosecutors want Volkswagen to face fresh Dieselgate trial
Prosecutors in Paris have called for German carmaker Volkswagen to face charges of aggravated fraud in France related to the Dieselgate emissions scandal. In 2015, Volkswagen admitted to selling 11m vehicles with devices designed to cheat emissions tests. Nearly a million French customers incurred costs for servicing and repairs after the scandal emerged. A 2021…
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Mining company seeks shortcut access to seabed metals
The Metals Co has revealed that it has been confidentially negotiating a plan with the Trump administration to circumvent a United Nations treaty and possibly obtain U.S. authorization to begin mining in international waters. The proposal drew immediate protests from environmental groups. It represents a radical shift in the debate over accessing deposits on the…
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Chinese firms target laid-off U.S. workers
Investigations indicate that a network of companies linked to a secretive Chinese tech firm is attempting to recruit recently laid-off U.S. government workers. Max Lesser, a senior analyst at the Foundation for Defense of Democracies, said that such firms are “part of a broader network of fake consulting and headhunting firms targeting former government employees…
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Date set for Boeing fraud case
A U.S. judge has set a June 23 trial date in the Justice Department’s criminal fraud case against Boeing, marking a major turn in the ongoing legal fallout from two fatal 737 MAX crashes. Boeing had agreed last year to plead guilty to a criminal conspiracy charge and pay up to $487.2m, but U.S. District…
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Crypto ‘mixer’ sanctions dropped
The U.S. Treasury Department has reversed sanctions on Tornado Cash, a cryptocurrency “mixer” previously accused by the Biden administration of laundering over $7bn, including funds for North Korea’s Lazarus hacking group, following a court ruling that the Office of Foreign Assets Control exceeded its authority in 2022. This decision aligns with President Donald Trump’s crypto-friendly…
