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FedEx (FDX.N) is suing the U.S. government, demanding a full refund of emergency tariffs.February 24th - According to the Wall Street Journal, the Trump administration is considering new "national security tariffs" on six industries. Sources familiar with the matter revealed that the tariffs under consideration could cover industries such as large batteries, pig iron and iron fittings, plastic pipes, industrial chemicals, and power grid and telecommunications equipment. These tariffs would be imposed under Section 232 of the Trade Expansion Act of 1962. The new tariffs on these six industries would be implemented separately from the new 15% global tariff. It is unclear when the investigations into these tariffs, conducted by the Department of Commerce, will be announced, or when they will ultimately be implemented. Section 232 requires a lengthy investigation before tariffs can be imposed, but once implemented, the president can unilaterally amend it.February 24 - On February 23 local time, the Qatari Ministry of Foreign Affairs stated that the foreign ministers of 19 countries, including Qatar, Saudi Arabia, Egypt, Jordan, Turkey, Palestine, Brazil, France, Denmark, Finland, Iceland, Indonesia, Ireland, Luxembourg, Norway, Portugal, Slovenia, Spain, and Sweden, along with the secretaries-general of the Arab League and the Organization of Islamic Cooperation, issued a joint statement strongly condemning the Israeli security cabinet for approving a series of decisions that drastically altered its policies in the West Bank, strengthened its control over the West Bank, and accelerated the expansion of Jewish settlements.JPMorgan CFO Barnum: The final Basel III plan is unlikely to significantly change capital requirements in any direction.Musk: Anthropic stole training data on a massive scale and paid billions of dollars in compensation for it. This is an indisputable fact.

U.S. Senate to hold FTX hearing on Dec. 1, CFTC chairman to testify

Cory Russell

Nov 22, 2022 15:35

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The U.S. Senate Agriculture Committee on Thursday said it will hold a hearing on Dec. 1 to examine the sudden collapse of FTX, one of the world’s biggest crypto exchanges.


FTX filed for bankruptcy on Nov. 11, leaving an estimated 1 million customers and other investors facing billions of dollars in total losses. The firm’s failure has created a liquidity crunch that has rippled across the industry and sent the prices of bitcoin and other digital assets plummeting.


Rostin Behnam, the chairman of the Commodity Futures Trading Commission, is the first witness named for the hearing, titled, “Why Congress Needs to Act: Lessons Learned from the FTX Collapse.”


U.S. Senate Agriculture Committee Chair Debbie Stabenow also on Thursday called on Congress to pass the bipartisan Digital Commodities Consumer Protection Act, which she said, “would have prohibited the misconduct and risky behavior undertaken by FTX.”


The U.S. House Financial Services Committee has also said it plans to hold a hearing in December to investigate FTX’s collapse.


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