And last week, the White House expanded a Trump-era order barring Americans from investing in Chinese businesses with links to that country’s military. The TikTok announcement came after lawmakers overwhelmingly passed a bill allocating $250 billion for research into emerging technologies in which the U.S. (The Trump ban, they said, hadn’t been carried out “in the soundest fashion,” and had been dealt numerous legal setbacks.)Ĭhina remains squarely in Washington’s sights. But that doesn’t mean the White House is taking the pressure off Chinese tech giants.īiden administration officials are planning a broader directive, aimed at creating “clear intelligible criteria” for reviewing the national security implications of tech tied to foreign governments. President Biden revoked a Trump-era executive order that sought to ban TikTok and WeChat in the U.S., which could have led to the forced sale of TikTok to an Oracle-Walmart consortium. Five former Treasury secretaries (Tim Geithner, Jacob Lew, Hank Paulson, Bob Rubin and Larry Summers) in a joint essay for Times Opinion about how to stop tax evasion. employees face each day as they work to administer tax laws while hamstrung by inadequate funding and support.” “We know firsthand the challenge dedicated I.R.S. Both are believed to be factors in the recent meme-stock frenzy, which has made regulators nervous. Meanwhile, the S.E.C.’s chairman, Gary Gensler, said yesterday that the agency would examine the gamification of trading by brokers and “payment for order flow” between brokers and market makers. had asked it to volunteer documents and information about “trading activity in our securities and the securities of other companies,” though it didn’t believe the inquiry would “adversely impact” its business. Will regulators put a stop to meme-stock mania? GameStop disclosed in a filing that the S.E.C. (Amazon’s own P/E ratio is around 60.) The recent run-up reflects “broader adoption and retail flow” than during the initial January spike, according to Ben Laidler of the online brokerage eToro, which compiled the index. The company said yesterday that it plans to sell 5 million more shares.Īn index of 15 meme stocks, including GameStop, AMC, BlackBerry, is up more than 50 percent in the past month, reaching a stratospheric price-to-earnings ratio of 1,200. It helps that GameStop’s tricky shift to e-commerce from bricks-and-mortar stores will be bolstered by money raised from selling its turbocharged stock, which is up some 1,600 percent this year. (Jenna Owens), chief technology officer (Matt Francis) and chief growth officer (Elliott Wilke). Will the Amazon playbook revive the struggling retailer? GameStop’s new C.E.O., Matt Furlong, and C.F.O., Mike Recupero, who are both Amazon veterans, join an executive committee that also includes ex-Amazon staffers as C.O.O. The latest overhaul at the video-game retailer comes amid the windfall of becoming one of the most popular “meme stocks.” You can get just about anything at Amazon these days, including, in the case of GameStop, a new set of executives. had recovered most of the Bitcoin ransom paid by Colonial Pipeline showed that, contrary to popular belief, crypto can be tracked. The meat processor said it transferred $11 million worth of Bitcoin to criminals who disrupted several of its plants. JBS concedes it paid a ransom to end a hacking attack. must also help other countries manufacture vaccines. (It’s in talks with Moderna over a similar deal.) Skeptics say the U.S. The Biden administration will buy the shots at a not-for-profit price and donate them to about 100 countries over the next year. will send 500 million Pfizer-BioNTech vaccine doses abroad. The two sides are working to end disputes over aircraft subsidies and metals tariffs that led to a trade war under Donald Trump, aiming to reach a deal by mid-July. Separately, Attorney General Merrick Garland said investigating the leak of private tax data “ will be at the top of my list” of priorities. Democrats and Republicans alike suggested that the scoop - which revealed how billionaires like Elon Musk drastically lower their tax bills - should lead to changes in the tax code. Lawmakers weigh tax changes in the wake of the ProPublica report.
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