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Determinedly beating the drum for steelworker votes and economic populism, two of the leading Senate opponents of the purchase of US Steel by a Japanese rival drew attention to the executive compensation of the Pittsburgh steelmaker.
According to the March 12 proxy asking investors to approve U.S. Steel’s current and former top executives would receive payments totaling over $156 million – not including $40.8 million in payments to non-employee board members.
The Financial Crimes Enforcement Network (FinCEN) has updated some of its Beneficial Ownership Information Frequently Asked Questions and issued several additional ones. The topics covered are:
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House Republican national security leadership called for the White House to expand license-free defense trade among the U.S., U.K., and Australia to ensure the success of AUKUS Pillar Two and …
The Department of Commerce’s Bureau of Industry and Security (BIS) published its second quarterly update of the boycott Requester List October 1st. This list notifies companies, financial institutions, freight forwarders, individuals, and other U.S. persons of potential sources of certain boycott-related requests they may receive during the regular course of business.
Of note, many recent reports come from customers outside the Arab world, including Japan, Brazil, Hong Kong, and the United Kingdom. The greatest number of non-arab boycott requests originated in Bangladesh, Malaysia and Pakistan.
Litigants in London lined up this week as the High Court considers insurance claims on the more nearly 500 western-built commercial aircraft stranded in Russia since February 2022.
Insurers, including AIG and Lloyd's of London contend the stranded fleet is not a total loss, and the aircraft may be recovered. Claimants, including leasing giant AerCap are reportedly seeking up to $3 billion from insurers.
The Commerce Department's Bureau of Industry and Security (BIS) imposed a civil penalty of $151,875 against Quantum Corporation, a data storage, management, and protection company to resolve 45 alleged violations of the antiboycott provisions of the Export Administration Regulations (EAR).
Between July 2018 and December 2019, Quantum received 45 requests from its customer, a distributor located in the United Arab Emirates (UAE), to refrain from importing goods of Israeli origin into the UAE in fulfillment of purchase orders from that customer. Quantum failed to report to BIS the receipt of these requests.
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