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The Latest Breaking News from the US Commerce Department

Stocks Set for Muted Open as Investors Await U.S. Economic Data and More Big Bank Earnings, Fed Speak on Tap

June S&P 500 E-Mini futures (ESM25) are up +0.05%, and June Nasdaq 100 E-Mini futures (NQM25) are up +0.14% this morning, pointing to a muted open on Wall Street, while investors await U.S. economic data, quarterly reports from more big banks, and remarks from Federal Reserve officials.

Barchart

Another Elon Musk Company Could Land Billions in Federal Funding As Republicans Look to Tweak Biden-Era Program

A planned Republican-led overhaul of the $42.5 billion federal broadband expansion program could channel up to $20 billion to Elon Musk's Starlink.

Latin Times

U.S. ordered TSMC to halt shipments of advanced AI processors to China: Report

It turns out that TSMC did not voluntarily stopped supply of advanced AI processors, it was told to by the American government.

Tom’s Hardware

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Polestar Says Biden's China Tech Ban Will Kill Its Business

Last month, the US Commerce Department proposed a new rule prohibiting the sale and import of connected cars from China and Russia into the United States. If it passes, Polestars says the rule could prevent it from selling the vehicles it builds in South Carolina in America.

Motor1

Ford Is Now Waging A War On Two Fronts

It seems like the competitiveness in the electric vehicle space is finally paying off as battery-powered cars are finally getting cheaper to make. Battery costs are dropping, material costs are down too, and even the average transaction price of new vehicles seems to be stabilizing a bit (although they're still high).

InsideEVs

China Says Raised 'Serious Concerns' With US Over Trade Curbs

The United States and China on Tuesday raised concerns about trade between the world's two biggest economies, with China's commerce minister urging Washington to lift sanctions on his country's firms "as soon as possible".

International Business Times

U.S. Chinese Car Tech Ban Will Hit General Motors And Ford Too

A Biden administration official said the rules proposed on Monday will amount to a total ban on vehicles from China.

InsideEVs

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US Bans Russia's Kaspersky Antivirus Software

The United States on Thursday banned Russia-based cybersecurity firm Kaspersky from providing its popular antivirus products in the country on national security grounds, the US Commerce Department announced.

International Business Times

Mutual praise, buzzwords plus a few walkouts: Xi and Putin meet in Beijing

Vladimir Putin lauded the success of ‘our Chinese friends’ at global forum, while Xi Jinping spoke out against international sanctions and ‘decoupling’

The Guardian - AU

IRS’s Paperless Processing Initiative To Save $2.6 Trillion In U.S. Federal Deficit

Yellen lauds IRS program as game-changer, urges Congress for continued support.

Zenger

U.S. Considers New Restrictions for AI Chip Exports to China

Shares of Nvidia, AMD drop on report about further restrictions against Chinese AI sector.

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