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The Latest Breaking News from the Commerce Department

U.S. to ban Chinese software in self-driving cars amid national security fears

Chinese-made autonomous vehicles have driven 1.8 million miles in California alone since 2017.

Fortune

U.S. government reportedly denies $4 billion grant for Applied Materials

Applied Materials will not get $4 billion to fund new R&D center in Silicon Valley.

Tom’s Hardware

US Economy Beats Growth Expectations In Second Quarter

US economic growth blew past expectations in the second quarter, boosted by consumer spending and inventory building despite high interest rates, government data showed Thursday, after a slow start to the year.

International Business Times

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Kaspersky To Shut Down U.S. Operations Amid Security Concerns

Kaspersky to cease U.S. operations due to ban over national security concerns, impacting fewer than 50 employees.

Top News

Kaspersky to shutter US operations after its software is banned by Commerce Department, citing risk

Cybersecurity firm Kaspersky says it’s shutting down all of its operations in the United States, just weeks after the Commerce Department banned the use of the company’s software in the country

The Independent UK

US Trade Deficit Expands Less Than Expected In May: Govt

The US trade gap grew slightly less than expected in May, to the widest level since late 2022, government data showed on Wednesday, as exports and imports both slipped.

International Business Times

Treasury seeks tighter rules on US investment in China tech - Roll Call

The Treasury Department proposed further limiting U.S. investment flowing into China’s artificial intelligence and supercomputer technologies.

Roll Call

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US Fed's Favored Inflation Measure Cools Slightly In May

The US Federal Reserve's favored measure of inflation eased slightly in May, according to government data published Friday, as goods prices cooled.

International Business Times

US economic growth for last quarter is revised up slightly to a 1.4% annual rate

The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said in a slight upgrade from its previous estimate

The Independent UK

US New Home Sales Come In Below Expectations In May

Sales of new homes in the United States were weaker than traders expected last month, according to government data published Wednesday, as mortgage rates remained high.

International Business Times

US Slaps Sanctions On Leaders Of Russia Software Firm Kaspersky

The United States unveiled sanctions Friday against 12 top leaders of the Russia-based cybersecurity firm Kaspersky Lab, a day after banning the sale of its popular antivirus software on national security grounds.

International Business Times

US Bans Russia's Kaspersky Antivirus Software

The United States on Thursday banned Russia-based cybersecurity firm Kaspersky from providing its popular antivirus products in the country on national security grounds, the US Commerce Department announced.

International Business Times

Fed rate-cut timing shifts after retail sales data

Consumer spending trends have investors recalculating when the Fed may start cutting interest rates.

The Street

US Trade Gap Widens To Largest In 18 Months

The US trade deficit expanded slightly less than analysts expected in April, to the widest since late 2022, as imports rose more quickly than exports, according to government data released Thursday.

International Business Times

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Tom’s Hardware

US government probes South Korean company accused of selling American tools to Chinese entities

Chinese entities keep getting advanced chipmaking tools made by American companies from South Korean companies.

International Business Times

US Fed's Favored Inflation Measure Remains Unchanged In April

The US Federal Reserve's favored measure of inflation remained unchanged in April, according to government data published Friday, as services prices remained elevated.

Top News

Biden Administration Adds Chinese Entities To Trade Restriction List

Biden administration adds Chinese entities to trade restrictions over national security concerns.

International Business Times

US Revokes Some Licenses For Exports To China's Huawei

The United States has revoked some export licenses that allowed companies such as US chip firm Qualcomm to supply Chinese tech giant Huawei, the Commerce Department confirmed on Wednesday.

International Business Times

Intel, Qualcomm Blocked From Shipping Chips to Huawei Amid Fresh U.S. Crackdown

The U.S. government has revoked certain export licenses allowing companies like Intel and Qualcomm to ship chips to sanctioned Chinese tech giant Huawei Technologies.

International Business Times

US Trade Gap Wider Than Anticipated In March

The US trade deficit was wider than analysts anticipated in March -- hovering close to the biggest in nearly a year -- with exports and imports both declining, according to government data published Thursday.

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