the us department of commerce expanded the sanctions list to seven more individuals and three companies, as stated, of creating a complex scheme in which dual-use electronics were also... in russia, including to companies associated with the russian armed forces. all seven sanctioned individuals have already been charged in court, including with conspiracy to violate export controls. last week, three defendants in these charges, nikolai goltsev and kristina puzyreva, who live in quebec, as well as salemjon nasredinov, who lives in new york, were arrested in the united states. the american mintor clarifies: two shell companies called shb brothers and snl. which registered in new york, they supplied electronics first to intermediaries in turkey, india, china and the united arab emirates, and from there to russia. one of these intermediaries was the sanctioned company suntronic, registered in the emirates. according to the us department of commerce, hundreds of deliveries worth more than $7 million went through sh brothers alone. the russian stock market begins the day with a decline. inve

the us department of commerce imposed sanctions against seven individuals of three companies, all of to the department, participated in a complex scheme for the supply of dual-use electronics to russia. they gave business news and denis talalaev, denis, what was the essence of this scheme. but the american mentor says that this is how electronics for missiles and drones ended up in russia. mentork usa expanded the sanctions list to seven more individuals and three companies. they are all accused of allegedly creating a complex circuit in which the electronics of the dual destination was supplied to russia, including to companies associated with the russian armed forces. all seven-persons who fell under sanctions have already been charged in court, including conspiracy with elgiu to violate export controls. last week three. the defendants in these charges, nikolai goltsev and kristina puzyreva, who live in quebec, as well as selim john nasreddinov, who lives in new york, were arrested in the united states. the american mentor clarifies: two shell companies called sh brothers and sn ele

the us department of commerce introduced export restrictions against 12 companies from russia and oneoping and purchasing drones for russian military-industrial complex. there are no plans to increase the personal income tax next year. this was stated by finance minister alexey sazanov at a meeting with businessmen. the press service of the ministry provides the theses of his speech. earlier this year, deputies proposed increasing the personal income tax rate for the so -called rich in the checkpoint. the russian federation considered those who earn more than 10 million rubles a year, in the ldr those who earn more than 25 million. deputies proposed increasing budget revenues in this way, because, for example, oil and gas revenues this year according to estimates the ministry of finance was reduced by a third. alexey sazanov spoke as a businessman, due to the fact that budget expenses have increased significantly, the ministry of finance is faced with the task, quote: to build a tax policy. the parameters, the deputy minister continued, do not change, but they exist. they relate to in

to send electronics to china, the company now needs to obtain permission from the us department of commerce artificial intelligence will definitely not get to beijing. there is no need to remind that the chinese people's the republic, which increasingly challenges the united states, technologically and militarily, remains the main threat to our national security. they threaten beijing with sanctions because of cooperation with moscow, allegedly china did more than just help. shortly before the visit of the us navy chairman , a report was sent to congress saying that it would be a good idea to increase pressure on beijing. i emphasize that chinese companies should not provide material support to the russian defense industrial sector, otherwise they will face significant consequences. despite sanctions pressure and reproaches, china is apparently committed to business relations with the united states. after the summit , chairman xi's program included a banquet with the participation of western businessmen, including billionaire elon musk, as well as jane fraser, head of the financial conglome

the department of energy will work toconduct deep dive analysis on clean energy supply. the commerce department will use data and analytics to create supply chain risk assessment tools. this part of the white house council on supply chain resilience which has the first meeting today. dom. >> lori ann, this is part of the biden economics kind of effort here. bidenomics, so to speak. the goal to cut inflation. is that this kind of thinking for this particular move? >> reporter: exactly, dom. the chart shows the consumer price index. look at those numbers. see year over year. that is the impact of the congestion and sky high prices we all lived through during covid. time is money. reducing delivery times and avoiding the tension costs kick down the price of goods. dom. >> lori ann loracco, thank you. >>> we have more to come on "worldwide exchange," including the one word investors have to know today, but first the report from the retail frontlines. we speak to the head of the dhl supply chain operations coming off the record breaking cyber weekend. >>> we come off one year since the launch of chatgpt and

the latest in the us china— us chip war because the commerce department in the us says it will be tightening exports on rare earths, think to counter the act, coming ahead of much anticipated planned meeting between the leaders of the two biggest economies in the apec san francisco summit. the vice president of china is in singapore and has addressed the bloomberg new economy forum where some of the biggest names in economics and politics are gathering this week. what he said was quite interesting, he was basically saying that the idea of globalisation was irresistible and irreversible. and that any efforts to enact protectionist policies would lead to nowhere. the title of his speech was unpacking the new order. i think what he was basically talking about was the united states leading western efforts to try to impose technology sales to china to make china less capable with things like chip making and green technologies and i have to say that many people in that room, business delegates, would probably agree with him. the old order, if you want to call it that, the idea of countries making stuff that is the quickest and efficient countries, making it and

the ministers, recent telephone quotes, the leader of commerce wanted any last remaining this, the use of credibility, who departments had left on the student was, you know, to enjoy for them to demonstrate against fail. pressed the tool demonstrations that they get out of this, that they even get killed. thousands of palestinians out of us that we thought try even charged in is that a military call. the world knows this, and when the students respond to the quotes to release the people that the state is fundamentally, at least as they know for the must be allowed to co exist with a fundamentally basis these of the con, the us in the interest of the village of our constitution to live up nice at least as speed was as douglas meant is what a jewish only people at the expense of public opinions. why would you do that? those are the facts. this is not really just want to read me, even though it's not really well. there is not people who live at god right to be superior to any one, but it leaves the present. the choice equipment is of the words. they re present zionism in the least disease. it must be said, he, whoever s

the department of commerce's job is to fund us to do a novation abroad; but we want to do a novation in africa, the department of commerce's funding grants for that. you take away the, i'm going to give you two to 5 million, which you can purchase a tractor with it kind of obligations. then ghana does not have to sell off their waterways just to continue the traditional production that they are doing. so, i think that is the issue. i would say domestically and abroad that does not get noticed when we are just looking at what is happening on the surface it really is set into the loan document, domestically and abroad that you cannot own the means of production. that is where the issue is centro africa, west africa, south africa, where the resources arek the issue is about the financial paperwork and documents and how it is written and what it would allow us as entrepreneurs to be able to do. [applause] >> let me just build on a bit of this. i don't know if camille is here, camille moore. camille is our senior vp of external affairs for the american association of black energy. we had m

of the trade war between china and the united states, the department of commerce introduced additional export controls on breakthrough dual-useal intelligence, quantum computing, bio nanotechnology, which, according to the white house administration, could be used by china for military purposes threaten us national security. from now on. semiconductors were subject to export restrictions. the chinese tech giant huawei, according to a proven scenario , was accused of violating sanctions against iran, stealing technology and industrial espionage in favor of the chinese government. wuwai's financial director and daughter maine wang jou was arrested, and wuwai itself and more than sixty of its subsidiaries were blacklisted, deprived of access to american equipment, technology and patents. in 2020 due to alleged ties to chinese defense complex, smic, the largest semiconductor manufacturer in china and the fifth largest in the world, was included in the sanctions list. in october last year, restrictions affected supplies of semiconductors and equipment for the production of microcircuits to dozens of chinese companies and laborator

the latest in the us china— us chip war because the commerce department in the us says it will be tightening exports on rare earths, think to counter the act, coming ahead ofthe vice president of china is in singapore and has addressed the bloomberg economy forum where some of the biggest names in economics and politics are gathering this week. what is that was quite interesting, he was basically saying that the idea of globalisation was irresistible and irreversible. and that any efforts to enact protectionist policies would lead to nowhere. the title of his speech was unpacking the

of commerce squandered any last remaining. they still use your credibility, her department had left a few minutes to not to enjoy for them to demonstrate against fail. press the tool demonstrations that they get out of this, that they even get cubes. the sizes of palestinians out of us that we so try even charged is that a military call. the world knows this. and when palestinians respond to the quotes to release the people that deal is they is fundamentally, at least as they know for the must be allowed to co exist with a fundamentally basis they can do. kind of the aust indicates the addition to their work nights the lease is speed was established meant is what a jewish only people at the expense of public opinions. why would you do that? those are the facts. this is not that really just want me to read them even though it's not wholly whoa. there is not people who live at god, right to be superior to any one. that is the present, the choice equipment which is of the words they have the present value of them in the least of the it must be said here we have a football them stop what plays a v. i'm a 10 ton gun up for r t use in south

between china and the united states, the department of commerce introduced additional export contracts, which, according to the white house administration, could be useditary purposes to threaten us national security. from this moment on , semiconductors came under export restrictions. according to a well-established scenario, the chinese tech giant wuai was accused of violating sanctions against iran, stealing technology and industrial espionage for the benefit of the chinese government. the financial director and daughter of the founder of uuai in 2020, due to alleged ties with the chinese defense complex, smic was included in the sanctions list. the largest semiconductor manufacturer in china and the fifth largest in the world. in october last year there were restrictions. affected supplies of semiconductors and equipment for the production of microcircuits for dozens of chinese companies and laboratories of research institutes. according to analysts, this is the most ambitious, from now on, to import technology, chinese manufacturers need a license to issue which, in most cases, the american side refuses. according to the new york times, these mea

use of other components of the administration if your security at the commerce department and task force at the justice department and enforcement has changed. >> sure. the sanctions policy in 2013, 2014, 2015 was a continuation but in some ways an advance of what we had done on the past. it was taking to a new level of sophistication to target sanctions and to accelerate gradually if you needed to, to bring more pressure to bear to achieve your goal of changing the policy without having massive unintended consequences. it was informed by a need to have units eat with our european allies and remember the world was coming out of the great financial crisis the recession not to throw the world's economy into a tailspin. i actually thought it was important to write something while i was in my last year of treasury gave remarks and became a pretty widely discussed documentsec-principles to inform them. we spent a lot of time trying to figure it out. i thought it was an obligation to lead by the template for anyone who thought it made sense to understand what the rationale was. i think the cur

the latest in the us china— us chip war because the commerce department in the us says it will be tightening exports on rare earths, think to counter the act, coming ahead ofrancisco summit. the vice president of china is in singapore and has addressed the bloomberg new economy forum where some of the biggest names in economics and politics are gathering this week. what he said was quite interesting, he was basically saying that the idea of globalisation was irresistible and irreversible. and that any efforts to enact protectionist policies would lead to nowhere.

of different sanctions. the u.s. pressed very hard for western companies not to use their telecom equipment. the commerce departmentot of sway over what to buy abroad. that really hurt their smartphone business. they had been a very viable competitor. competing with apple and samsung right at the top. that really handicap the smartphone business. now we are seeing this new phone that just came out. they have been able to climb back into that business. it seems like next year will be very competitive. that will probably hit abelard which has depended on china as a big market. the u.s. does not care if there are advance barcodes in china. that is really the key issue here. haidi: scale is always a key issue, both in terms of the scale and what they need to produce. the scale of how much government subsidies and input is done. how much is that is playing into this? >> you are asking a very important question about whether domestic companies in china can produce semi conductors at that scale. the secretary was asked this very question in commerce department hearings. the scale is really economically independent. you ca

the ministers, recent telephone call to the leader of commerce squandered in the last remaining, they do use your credibility, you who departments had left on this dns not to enjoy for them to demonstrate against fail. press the tool demonstrations that they get out of this, that they even get cubes. thousands of palestinians out of us that we thought would try even charged is that a military call. the world knows this and when the student respond to the quote to release the people that the state is fundamentally, at least as they know for the must be allowed to port exist with a fundamentally, lisa states. the con, the con, the us in that gives us the videos of all posted using to live work nights, at least as speed was as douglas meant is what a jewish only people at the expense of public opinions. why would you do that? those are the facts. this is not that really just want me to read. you mean? well, it's not a holy will. there is not people who live at god, right. to be superior to any one. that is the present, the choice equipment use of the words. they have the present value of them in the lease of the it must be said her

department of commerce has imposed export restrictions on seven individuals as well as three companies. which are based in the usa, the united arab emirates, they are accused of illegally supplying dual-useountry millions of dollars, it is alleged that the goods were intended, among other things, for defense enterprises; the products were allegedly imported through third countries, including china, the united arab emirates and turkey. by decision of the american authorities, export privileges were revoked for 180 days. the energy center in istanbul will begin operations next year. this was reported by the ministry of energy of turkey. he will deal with issues of supplying energy and minerals to foreign markets. he will also regulate price education in this sphere. we found a location for the center in the international financial center in the atashihir region. we hope that the project will begin in 2024. representatives of the private sector will be able to take part in it, just as in russia they can introduce a family certificate for the purchase of a car; according to tas , a corresponding bill has been submitted to the state duma. if the initiative is adopted, young families with a ch

beginning with the latest in the us—china chip war because the commerce department in china says it will be tightening exports on rare earths, think to counter the act, coming ahead of much anticipated planned meeting between the leaders of the two biggest economies in the apec san francisco summit. the vice president of china is in singapore and has addressed the bloomberg new economy forum where some of the biggest names in economics and politics are gathering this week. nick marsh is there enjoins me. tell us what the chinese vp said. 3 tell us what the chinese vp said. �* . ., ., ,. , tell us what the chinese vp said. �* . ., ., ,. i, . said. a change of scenery since we last spoke _ said. a change of scenery since we last spoke here _ said. a change of scenery since we last spoke here on - said. a change of scenery since we last spoke here on the - we last spoke here on the island just off singapore. hope you like it. this is a big gathering of global, political officials, former officials, economic leaders and the guest speaker this morning was hengjun, the new vice president of china. i'll run you through some things he said which was interesting. he said thi

hands to replace the department of commerce and department of justice vehicle fleets with electric vehicles, saving taxpayers nearly $54 million. this is what we're doing in this bill, using power of the purse. there's 119 amendments and none of those amendments increase spending. i can tell you we went through all of them and maybe that's why they're upset because some of their amendments didn't make it in there because maybe they were trying to spend more money. i'm sorry, we're not going to do it and with that i reserve. the speaker pro tempore: the gentleman reserves. the gentleman is recognized. mr. mcgovern: the viewing public may take note the gentleman didn't respond to anything i said in my opening remarks. i will point out for the record so people understand, over half of the amendments, over half of the amendments that were offered into this bill were rejected. they were blocked. they were blocked by the republican majority on the rules committee. 170 amendments, many of them republican amendments, i should point out, were blocked. it was not because they added to spending, it was just that they were blocked. the point i was trying to make and i'll make it agai

us today. its limited so i will get right to the point. transferred the responsibility for civilian special agent to the department of commerce. rom what i understand, since it is transferred away from the pentagon, most other agencies that are monitoring have been using commercialized monitoring but your developing your own system itself. how is it going to differ from the pentagon and were not rely on the commercial industry rather than creating your own duplicitous and fairly expensive? >> great question. we are going to work with the pentagon and we will absolutely leverage commercial capacity and we haven't made any specific plans. we are still working in the inter-agency including with the pentagon to finalize this. all of that being said, there is a need for a space situational awareness program, not that different from faa and air traffic control to keep track of the commercial congestion in space of the commercial satellites. space is becoming a lot of traffic which increases probability of collision, danger . >> we have places like leah labs that are doing it already. they have broader access to more locations than we

of intended outcomes and use ponds efficiently,". inspector general has also noted the contract and grant fraud account for 65% of the oig's department of commerce cases. before fiscal 2021, they represented roughly 35%. secretary reminder, see you r have plans to respond to any specific oversight measures fore this development we have seen? >> thank you for the question. you're absolutely right. this is unprecedented. they've never implemented anything of this size. to take that responsibility and terribly seriously. i have a job to achieve national security goals and protect taxpayer money. we need both. we are building a team. built a team since about 150 professionals. try to meet them anytime there is a talented people. building a risk team. specifically devoted to issues that you highlight. the risk team is a risk professional. evaluating all the risk. companies doing what they said they could do. we plan to put it out on milestone based achievement. some money, see what they do. we are going to be massively transparent, provide notice as we are required to do to congress for investment of $10 million or more. and we are doing an incredibl

your sense of what the sanctions policy looks like posted full scale invasion and the use other components of the administration such as the bureau of industry and security, the commerce department and task force collected capture at the justice department and how enforcement has changed. you were in office versus now. sure. and you know, the sanctions policy in in 2013, 2014, 2015 was you know was a continuation. but in some ways an advance on we had done in the past it was taking to a new of sophistication the ability to target sanctions and to excel rate gradually. if you needed to, to bring more pressure bear to try and achieve your goal of changing the policy without having massive unintended. it was informed by a need to have unity with our european allies and remember the world was coming out of the great financial crisis recession at the time not throw the world economy into tailspin. i actually thought it was important to write something and i did while i was in my last year, treasury gave remarks became a pretty widely discussed document of principles inform that because we spent a lot of time trying to figure it out. i thought partially it was our to leave behind a te

used to operate? >> we have a selection committee now put an initial board in place. that initial board will choose a ceo and then other board members and then department of commerce willhave a -- in agreement a research agreement similar to what has done for a long time with other entities which will layout all they intend to use the federal money to execute their vision. >> thank you. once the board is selection how does the department intend to ensure public-private partnerships drive solutions to the grand challenges? >> the whole thing is a public-private partnership as a pert statute it is a consortia. we are committed to making this be a purpose built science -based neutral effort and as i said there will be a research agreement which will lay all that out will hold them accountable to what is in that agreement. >> think there's a white paper that was supposed to be issued and has been delayed. can you share new or additional information on the timing and scope of the entity? >> i just looked at one of my associates because it is coming very soon, this fall i was hoping he would say maybe next week. i guess will stay on it. [laughter] >> will go with this fall o

beginning with the latest in the us—china chip war because the commerce department in china says it will be tightening exports on rare earths, think to counter the act, coming ahead ofn francisco summit. the vice president of china is in singapore and has addressed the bloomberg new economy forum where some of the biggest names in economics and politics are gathering this week. nick marsh is there enjoins me. tell us what the chinese vp said. b. tell us what the chinese vp said. �* . ., ., ,. , tell us what the chinese vp said. �* . ., ., ,. i, . said. a change of scenery since we last spoke _ said. a change of scenery since we last spoke here _ said. a change of scenery since we last spoke here on - said. a change of scenery since we last spoke here on the i we last spoke here on the island just off singapore. hope you like it. this is a big gathering of global, political officials, former

of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about. ameriprise financial. >>> the commerce department has not made any final decisions about this yet, but allocation or money to intel should not come as a surprise to investors given what the press are around the promise to build on american soil. the fact that the ceo is very optimistic each time he talks about it. the public visit from the president at the plant that i was out maybe about a year ago. that was also seen from companies that could indicate that maybe these companies are so optimistic because they received positive signals from the commerce department. may be behind closed doors. is considered priced into the stocks. today's bump has a lot to do with this visit to taiwan. he said in an innovation day over there most will move to test production by q1 of next year. this is important because it's important to them as they plan to make these not only for intel but also outside customers. intel has signed on three customers but as i tried to ask to get the names they are very hush-hush on them because those same customers mo

recent data from the department of commerce shows that we are a $862 billion industry. we employ 4.5 million americans, that's 2% of the us gdp and 3.3% of all us employees. this data also shows that outdoor recreations growth more than tripled over the past year as we saw more people flocking to the outdoors and valuing how important time outside was to our mental, physical and societal health. the rec act legislation sponsored by senator shaheen and gardner created this report. it's such a good example of a bipartisan effort that has helped small businesses. the data provided each year allows us to track our growth and has been a crucial education tool for policymakers to understand the importance of our sector. while our cumulative economic power is mighty, unlike other industries with similar economic impact, we are a mile wide and an inch deep. so our small businesses do need support. many have narrow operating margins and do their seasonal nature. they are especially vulnerable to closures and natural disasters like hurricanes, floods and drought, wildfires, smoke or even the threat of wildfire. closures can lead sm

of money and not every tech hub will get the money. we are working on ways to use existing funds in the commerce department and across the government to support the tech hubs that are designated. we will put our back into supporting all the desi ladies, even those that do not get tech hub money. here is what i think. five years from now, if we do our job right, we will have in construction facilities to at least to do leading edge chip manufacturing and leading edge packaging. they should be up and running more than in construction. we should have new, at-scale companies producing leading edge chips in united states, same for packaging and advanced memory at scale. the nstc will be established. there will be several centers around the country doing research and development. we will have a fund established to make investments in smaller companies. we will have one or more manufacturing usa up and running. the five year mark is really important because it is the time that they should be coming online. and we should be making these chips at scale. if we do our job right, with all of the workforce, we will start to see a totally new way o

used funds efficiently. ms. fisher: close quote. the inspector general noted contract and grant fraud now account for 65% of the o.i.g.'s department of commerce cases. mrs. fisher: before fiscal 2021 they represented roughly 35%. secretary raimondo, have you planned to implement any specific oversight measures to respond to this concerning development we're seeing? secretary raimondo: thank you, senator and thank for you the question. you're right, this is unprecedented and the commerce department never implemented anything of this size and i take that responsibility incredibly seriously. i have a job to achieve goals and stewards of taxpayer money. we are building a team since the time the bill passed, we built a team, about 150 professionals, i would invite you to meet them any time. they're incredibly talented people, and we're building a risk team, specifically devoted to the issues that you highlight. the risk team is a risk professionals to make sure we're evaluating all the risks and also after we put the money out to make sure the companies are doing what they said they would do. also, we don't plan to put the money out to these compa