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0.000364409353173412 0.00066808381415114 0.0036744609778317 0.00493167324628006 -0.000607348921955629 -0.000182204676586706 -0.00364409353173395 -0.00989978742787729
Stock impact report

Big fines coming for companies with export violations, says ex-Commerce official [Yahoo! Finance]

Applied Materials, Inc. (AMAT) 
Last applied materials, inc. earnings: 2/12 04:01 pm Check Earnings Report
Company Research Source: Yahoo! Finance
offenses such as illegally shipping technology to customers in China, according to a top department official who left last month. Matthew Axelrod, as Commerce's assistant secretary for export enforcement during the Biden administration, pushed for tougher penalties against companies that violated export controls on China, Russia and Iran. He signed off on a $300 million penalty on Seagate Technology in 2023 for shipping 7 million hard drives to China's Huawei, which is on the U.S. Commerce Department Entity List that restricts sending U.S. goods and services to the company because of its risks to national security. "We had hoped some major investigations would resolve in 2024, but it looks like it will now be 2025," said Axelrod, who expects the Trump administration to aggressively enforce export controls. He is joining the Gibson Dunn law firm on Monday. Axelrod would not identify the companies under scrutiny. But one open investigation involves Santa Clara, California-based Show less Read more
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