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The Latest Breaking News from Commerce Department

US To Ban Kaspersky Lab Software Over National Security Concerns

Biden administration to ban US use of Kaspersky Lab software over national security concerns.

Top News

New Budget Deal Includes $12 Billion 'Cut' That Doesn't Actually Cut Anything

Anatomy of a budget gimmick.

Reason

Chinese EVs could be derailed in the US as President Biden brands them a security threat

President Biden has launched a Commerce Department investigation to see if electric vehicles from China pose a national security risk.

TechRadar

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Stock Market Today: Stocks turn lower as produce prices leap revives inflation concern

Producer-price figures set up a data rubber match on Wall Street after a hot consumer-inflation report and a retail-sales slump.

The Street

US Retail Sales In January Log Biggest Fall In Almost A Year

Retail sales in the United States slipped more than anticipated last month, retreating after the holiday season and bogged down by auto sales and gas prices, government data showed Thursday.

International Business Times

Commerce Department partners with major VC firms encourage startups to be “responsible” in AI use

The effort, led by General Catalyst, expands an effort to encourage responsible AI that was previously focused on Big Tech firms.

Fortune

Companies Seeking CHIPS Act Subsidies Are Encouraged To Double-Dip

At least a dozen states have beefed up targeted incentives to coincide with handouts from the Commerce Department.

Reason

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Forget CVS — Rite Aid might also close hundreds of stores

The chain has been talking to creditors and weighing its options but store closures and Chapter 11 are on the table, according to a major report.

The Street

Apple slump pulls chip stocks lower amid brewing US-China tech trade war

The Commerce Department's will probe details of a new chip in China-backed Huawei's Mate 60 smartphone to determine if it violates U.S. trade sanctions.

The Street

The U.S. imports most of its solar panels. A new ruling may make that more expensive

The Commerce Department says solar panel makers in four Southeast Asian countries are evading U.S. duties on Chinese solar components. The finding could raise costs in the United States.

WEKU

Consumers no longer ‘penny-pinching’ as retail sales rose solidly last month

Retail sales rose a better-than-expected 0.7% in July from June, according to the Commerce Department.

Chicago Sun-Times

Officials juggle several US goals as they award CHIPS money - Roll Call

The Commerce Department has assembled a team to allocate the money Congress provided last year to revitalize the US chip industry.

Roll Call

Retail Sales Growth Eases In June, But Spending Healthy Into Summer

A key reading of consumer spending, which feeds into GDP calculations, came in more than double Street forecasts last month.

The Street

Orders for US business equipment increase for a second month

Orders placed with U.S. factories for business equipment rose in May for a second month, indicating companies continue to make longer-term investments despite high borrowing costs and economic uncertainty.

Tribune News Service

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The Street

Stocks Edge Higher, Inflation On Deck, Oracle Earnings, Apple Rating Cut, Intel Arm Interest - 5 Things To Know

Stock futures higher with Fed rate decision in focus; Inflation data on deck as markets bet on June rate 'skip'; Oracle shares at fresh record high after Q4 earnings beat; Apple shares slip as UBS lowers rating on softening iPhone demand and Intel shares gain on reports of anchor interest…

Axios

"No basis in fact": U.S. slams China claim that chipmaker Micron poses national security risk

Chinese agency tells operators of "critical information infrastructure" to stop buying Micron's products.

The Street

Retail Sales Rebound In April Amid Solid Jobs Market, Slowing Inflation; Stocks Slip Lower

A solid April jobs market, alongside slowing inflation, helped overall retail sales rise for the first time in three months.

The Street

Stocks Slip Lower, Retail Sales On Deck, Home Depot Earnings, Buffett Adds Capital One, Horizon Therapeutics Deal In Doubt - 5 Things To Know

Stock futures slip lower with debt ceiling talks in focus; Retail sales on deck after consumers powered Q1 GDP growth; Home Depot earnings in focus as retail week heats up; Warren Buffett's Berkshire Hathaway takes new position in Capital One and Horizon Therapeutics plunges on report FTC will sue to…

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Roll Call

Supreme Court to decide major case on federal rule-making power - Roll Call

The Supreme Court will decide a challenge over how courts assess federal rule-making, setting up a major case on executive agency power.

The Independent UK

House votes to restore solar panel tariffs paused by Biden

The House voted Friday to reinstate tariffs on solar panel imports from several Southeast Asian countries

AFP

US new home sales rise in March to highest level in a year

Washington (AFP) - New home sales in the United States defied expectations to hit a one-year high in March, the Commerce Department said Tuesday, as a lack of existing homes bolstered demand in the market for new properties.

AFP

US new home sales rise more than expected in March

Washington (AFP) - New home sales in the United States grew more than anticipated in March, the Commerce Department said Tuesday, as a lack of existing homes continued bolstering demand in the market for new properties.

Roll Call

Bipartisan measure to block solar tariff waiver heads to markup - Roll Call

A bipartisan measure would strike down an administration waiver of tariffs on solar energy equipment from four countries in Southeast Asia.

Reuters

U.S. adds Nicaraguan National Police to export control list, citing human rights

The U.S. Commerce Department on Tuesday added the Nicaraguan National Police to a government export control list after the Biden administration said the police force was engaged in serious human rights abuses in Nicaragua.

Chicago Sun-Times

Companies that get federal subsidies should be required to provide child care

The Biden administration plan to impose a child care requirement on the semiconductor industry is a start.

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