LUTNICK CONTROVERSY
Bessent blames Lutnick's Commerce Department for not restricting Nvidia chips to China
Treasury Secretary Scott Bessent has publicly expressed frustration regarding the Commerce Department's delay in implementing export restrictions. The restrictions concern Nvidia chips, particularly those sold to companies like Megaspeed International, linked to CEO Jensen Huang. Huang resigned amid allegations of having an affair with Megaspeed's CEO, who is suspected of espionage. Members of Congress have called for explanations regarding Commerce Secretary Howard Lutnick's decision-making in this matter.
Bessent blames Lutnick's Commerce Department for not restricting Nvidia chips to China
Scott Bessent has publicly criticized the Commerce Department for its delay in implementing export controls on Nvidia chips. He stated that multiple departments, including Treasury, have sought to add Megaspeed to an export control list. Allegations regarding Nvidia's CEO Jensen Huang's scandalous relationship with a suspected Chinese spy have contributed to this issue. The Commerce Secretary's close ties to Huang have sparked congressional scrutiny and demands for explanations.
US Congress steps up scrutiny of Trump, Nvidia after Huang exit
US lawmakers have demanded answers from the Trump administration over what it knew about former Nvidia CEO Jensen Huang's alleged affair with a woman suspected of spying for China. The controversy has renewed scrutiny of US chip exports to Beijing, national security risks and alleged links between Nvidia and the administration.
Nvidia chips getting diverted to China: Donald Trump crackdown on companies following consultations with Elon Musk stalled by US Commerce Secretary
This comes after a controversy surrounding Nvidia CEO Jensen Huang and the chipmaker's China business has spiraled into a national-security and political storm.
Nvidia earnings next Tuesday, Congress on Wednesday: Jensen Huang faces the most consequential 48 hours of his career
Nvidia CEO Jensen Huang faces mounting scrutiny as the company prepares to report earnings on November 17 and Republican lawmakers seek a congressional briefing the following day. An independent board investigation into his relationship with Alice Huang, who is suspected of Chinese intelligence links, has added to questions about national security and chip sales.
Jensen Huang addresses infidelity in meeting with staff, keeps to business as usual amidst 'spy scandal': Report
Huang was also in the office on Tuesday, and attended meetings even as the company prepares for its quarterly earnings report.
Nvidia faces deepening scrutiny over China chip ties, CEO affair
The market value of Nvidia has plummeted following troubling accusations against CEO Jensen Huang, linked to his association with Alice Huang, who faces espionage allegations. The FBI is currently investigating whether foreign intelligence agencies have targeted Huang due to this connection. In response, Nvidia's board has begun an internal review to mitigate potential threats, highlighting vital concerns about the company's security measures and governance structure.
'I really believe him': Trump backs Nvidia CEO Jensen Huang amid China spy scandal, $7.5 billion chip shipment claims and lawsuit
Donald Trump has publicly supported Nvidia CEO Jensen Huang, who faces scrutiny over alleged connections to Chinese intelligence. Lawmakers from both political parties have raised concerns about national security implications related to Nvidia's technology exports. Nvidia's board is investigating the allegations while Huang faces shareholder lawsuits regarding disclosure failures. The controversy has affected Nvidia's stock value and prompted discussions on future semiconductor export policies.
In 1969, California witnessed catastrophic oil spill between 3.5 million and 4.2 million gallons of crude into Santa Barbara Channel, leading to rise of modern environmental movement, nearly 6 decades later Donald Trump administration is causing concerns among residents. Here's why
Trump administration, citing a need for energy security and job creation, has already announced plans for new offshore oil leases in California as well as Florida, where the federal government has not allowed drilling since 1995 because of concerns about oil spills in the Gulf of Mexico.
Why Howard Lutnick was heckled at Davos dinner hosted by BlackRock CEO hours before Trump’s speech
Howard Lutnick Davos: Tensions rose at a World Economic Forum dinner in Davos. US Commerce Secretary Howard Lutnick faced jeers and walkouts after criticizing Europe's policies. European Central Bank President Christine Lagarde reportedly left the event. The incident occurred before US President Donald Trump's scheduled address, amid concerns over his stance on Greenland and trade tariffs.
India, US officials should continue trade deal talks: Exporters
Indian exporters are calling for urgent talks between India and the US to finalise a trade agreement. They highlight that existing US tariffs are already impacting bilateral trade. Exporters emphasise the US as a crucial market and believe an agreement will boost Indian exports and reduce trade uncertainties.
Trump-Linked weather privatization plan raises ethics concerns as commerce chief Lutnick faces scrutiny
Howard Lutnick, now Commerce Secretary, faces scrutiny over potential conflicts of interest. Trump's team aims to privatize weather forecasting. Experts fear the poor may lose access to free weather data. Elon Musk's SpaceX could benefit from NOAA budget cuts. Lutnick's past firm has ties to weather companies. Trump's picks for weather jobs also have links to private firms.
As Mark Carney visits the White House, Donald Trump says he doesn't know what the Canadian Prime Minister wants to discuss
Donald Trump says he doesn’t know what Canadian PM Mark Carney wants to discuss, just a day before their White House meeting, leaving many wondering about the purpose of the high-level talks. With a major U.S.-Canada trade war in full swing, and billions in tariffs impacting industries, Trump’s casual remark—“I guess he wants to make a deal”—adds to the tension. This marks their first in-person meeting since Carney’s election win, where critical issues like CUSMA, auto tariffs, and even Canadian sovereignty may be on the table. Here's what’s at stake and why this visit really matters for both nations.
Musk's team is building a system to sell 'Gold Card' immigrant visas
Elon Musk's government efficiency team is developing a system to sell "gold card" immigration visas for $5 million each, aiming to expedite residency for high-net-worth individuals. The project, led by Marko Elez and Edward Coristine, involves collaboration with multiple government agencies to create a streamlined application process.
$100,000,000,000 loss in four months! World's wealthiest man Elon Musk becomes sixth-largest richest loser
Elon Musk's net worth has dipped below $300 billion, a significant drop from exceeding $400 billion just three months prior. Tesla's stock decline, influenced by market volatility, economic concerns tied to Trump's tariffs, and Musk's controversial actions, contributed to this downturn. Weak Q1 vehicle deliveries and brand damage linked to Musk's political stances further impacted Tesla's value.
Bizarre Tesla stock endorsement by Donald Trump’s commerce secretary Howard Lutnick; instead, shares plummet even further
Howard Lutnick, the Secretary of Commerce, publicly endorsed Tesla stock on Fox News despite Tesla's recent stock decline. He praised Elon Musk as the best technologist and entrepreneur. Lutnick's endorsement comes amid controversy over Musk's involvement in the White House and widespread public protests against Tesla. Lutnick defended Musk's leadership and advised viewers to buy Tesla stock.
US citizens earning under $150,000 annually to pay no tax? Trump's big plan revealed
United States Commerce Secretary Howard Lutnick has claimed that US President Donald Trump's “goal” is to have “no tax” for anyone earning below $150,000 annually. Lutnick’s comments on tip taxes and social security echo promises from Trump that he will eliminate taxes on tips, while also pushing for sweeping tax cuts for individuals and corporations.
Dollar sags to one-week low after safety bid, 'Trump trade' momentum wanes
The U.S. dollar weakened against major currencies, extending a three-day decline from a one-week high as the market stabilized after a rally following Donald Trump's election. Bitcoin reached a new all-time high, driven by expectations of a more favorable regulatory environment under Trump.
Elon Musk, top Trump advisor engaged in 'massive blowup' at Mar-a-Lago dinner table. Here's the reason
Elon Musk, Donald Trump supporter, is rising rapidly in the US-President elect's inner circle and this is not going down well with some of old guards of former President. Recently, Elon Musk and top Trump advisor Boris Epshteyn clashed at a dinner table in Mar-a-Lago. Tensions between the two have been brewing between the two during the transition meetings.
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