Caroline Ellison, the former CEO of Alameda Research and key witness against FTX founder Sam Bankman-Fried, was sentenced to two years in prison and ordered to forfeit $11 billion for her role in FTX's fraud scheme.
Legal & Regulatory
EU Tariffs on Chinese EVs Threaten Trade Relations and Prices
The EU has imposed new tariffs of up to 45% on Chinese electric vehicles to protect its car industry from perceived unfair subsidies.
$18 Billion Treasure from San José Shipwreck Raises Legal Ownership Dispute—Who Can Claim It?
The San José, a Spanish galleon that sank in 1708, contains treasures worth $7-$18 billion, but ownership disputes involve several claimants and remain unresolved.
US Trade Blacklists 75 Chinese Companies Linked to Uyghur Forced Labor
The U.S. added two Chinese firms, a steel manufacturer and an artificial sweetener maker, to its Uyghur forced labor blacklist, bringing the total to 75 companies.
US Seafood Restaurants Warned by FTC for Falsely Marketing Imported Seafood as Local
The FTC has warned major US seafood restaurants about misleading claims that imported seafood is locally caught, following complaints from the local fishing industry.
Latest News
Telegram will begin sharing user data with authorities in response to legal requests, raising concerns over free speech, especially for political dissidents using the platform.
Novo Nordisk CEO Lars Fruergaard Jørgensen will face a Senate hearing over the high prices of weight loss drugs Wegovy and Ozempic in the US.
An engine fire on a Cathay Pacific Airbus A350, caused by a damaged fuel hose, forced the airline to ground its fleet for inspections to prevent further incidents.
China has banned Taiwan’s fruit, seafood, and vegetables imports, escalating tensions over trade and military issues.
Boeing faces a major strike, leading to unpaid leaves for thousands of employees to preserve cash during negotiations.
China has imposed sanctions on US companies selling arms to Taiwan, including trade restrictions and potential blacklisting, as tensions rise over Taiwan’s military acquisitions from the US.
Tupperware Brands filed for Chapter 11 bankruptcy after struggling with declining sales, rising costs, and increasing competition from cheaper, eco-friendly alternatives.
Ovo has been ordered to pay $3M (£2.4M) in compensation and fines after regulators found it failed to address 1,395 customer complaints promptly, with each customer receiving $301 (£271).
An employee who labeled OceanGate’s Titan submersible as ‘unsafe’ will testify before U.S. Coast Guard investigators, potentially impacting the company’s future operation.
