Ex-Credit Suisse Client Pleads Guilty to Hiding Money From IRS
A Brazilian-American businessman became the second former Credit Suisse Group AG client to plead guilty within the last week to hiding millions of dollars in assets from US tax authorities.
Dan Rotta, wearing a beige jumpsuit, entered his plea Monday in federal court in Miami. As part of his plea, the 78-year-old said that Credit Suisse bankers knew he was a US citizen, but helped him conceal assets from the Internal Revenue Service.
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UPI
an hour ago
- UPI
Trump approves Nippon Steel purchase of U.S. Steel
1 of 3 | President Donald Trump issued an executive order, officially giving the green light Nippon Steel Corporation's multi-billion-dollar purchase of U.S. Steel Corporation. File Photo by Archie Carpenter/UPI | License Photo June 14 (UPI) -- President Donald Trump issued an executive order on Friday officially giving the green light to Nippon Steel Corporation's multi-billion-dollar purchase of U.S. Steel Corporation. Trump's executive order rescinds a directive issued by former President Joe Biden that blocked the Tokyo-based steel producer's $14.9 billion purchase on national security grounds. The president had been signaling he would approve such a move, stating in May that the two steel giants would form a "planned partnership." Trump previously ordered a review of the transaction by the Committee on Foreign Investment in the United States. "Based on the recommendation of and my review of the materials provided by CFIUS, including re-review of the prior assessment of risk, I additionally find that the threatened impairment to the national security of the United States arising as a result of the Proposed Transaction can be adequately mitigated if the conditions set forth in section 3 of this order are met," Trump wrote in the executive order. "President Trump has approved the Companies' historic partnership that will unleash unprecedented investments in steelmaking in the United States, protecting and creating more than 100,000 jobs," Pennsylvania-based U.S. Steel said in a release jointly issued with Nippon Steel. "We thank President Trump and his Administration for their bold leadership and strong support for our historic partnership. This partnership will bring a massive investment that will support our communities and families for generations to come. We look forward to putting our commitments into action to make American steelmaking and manufacturing great again." Trump's executive order requires both companies to enter into a National Security Agreement, which stipulates $11 billion in new investments must be made in the United States by 2028. That includes an already-underway project not scheduled for completion until after 2028. The United States government will also be issued a golden share as part of the NSA, giving it unique voting rights. "President Trump promised to protect American Steel and American Jobs -- and he has delivered on that promise," White House spokesperson Kush Desai told CNN in a statement. "Today's executive order ensures US Steel will remain in the great Commonwealth of Pennsylvania, and be safeguarded as a critical element of America's national and economic security." Confirmation of the deal comes just over a week after 50% tariffs took effect on metals imported into the United States from nearly all countries. The tariffs were enacted a day after Trump signed an executive order doubling the duties on almost all imported aluminum and steel.
Los Angeles Times
an hour ago
- Los Angeles Times
Immigration raids are threatening businesses that supply America's food, farm bureaus say
VENTURA, Calif. — Large-scale immigration raids at packinghouses and fields in California are threatening businesses that supply much of the country's food, farm bureaus say. Dozens of farmworkers have been arrested recently after uniformed federal agents fanned out on farms northwest of Los Angeles in Ventura County, which is known for growing strawberries, lemons and avocados. Others are skipping work as fear in immigrant communities has deepened as President Donald Trump steps up his immigration crackdown, vowing to dramatically increase arrests and sending federal agents to detain people at Home Depot parking lots and workplaces including car washes and a garment factory. It also comes as Trump sent National Guard troops and Marines to Los Angeles following protests over his immigration enforcement operations. Demonstrations have since spread to other U.S. cities. Maureen McGuire, chief executive of Ventura County's farm bureau, said between 25% and 45% of farmworkers have stopped showing up for work since the large-scale raids began this month. 'When our workforce is afraid, fields go unharvested, packinghouses fall behind, and market supply chains, from local grocery stores to national retailers, are affected,' she said in a statement on Thursday. 'This impacts every American who eats.' California's farms produce more than a third of the country's vegetables and more than three-quarters of its fruits and nuts. While the state's government is dominated by Democrats, there are large Republican areas that run through farm country, and many growers throughout the state have been counting on Trump to help with key agricultural issues ranging from water to trade. Primitiva Hernandez, executive director of 805 UndocuFund, estimates at least 43 people were detained in farm fields in Ventura and Santa Barbara counties since Monday. The number is from both the Mexican consulate and the group's own estimates from talking with family members of people detained, she said. Elizabeth Strater, the United Farm Workers' director of strategic campaigns, said her group received reports of immigration arrests on farms as far north as California's Central Valley. Lucas Zucker, co-executive director of the Central Coast Alliance United for a Sustainable Economy, said farmworker members reported that agents went to at least nine farms but were turned away by supervisors because they lacked a warrant. 'This is just a mass assault on a working-class immigrant community and essentially profiling,' Zucker said. 'They are not going after specific people who are really targeted. They're just fishing.' In response to questions about the farm arrests, Homeland Security Assistant Secretary Tricia McLaughlin said in a statement that the agency will follow the president's direction and continue to seek to remove immigrants who have committed crimes. On Thursday, Trump acknowledged growers' concerns that his stepped-up immigration enforcement could leave them without workers they rely on to grow the country's food. He said something would be done to address the situation, but he did not provide specifics. 'Our great Farmers and people in the Hotel and Leisure business have been stating that our very aggressive policy on immigration is taking very good, long time workers away from them, with those jobs being almost impossible to replace,' he said on his social media account, adding: 'We must protect our Farmers, but get the CRIMINALS OUT OF THE USA. Changes are coming!' The California Farm Bureau said it has not received reports of a widespread disruption to its workforce, but there are concerns among community members. Bryan Little, the bureau's senior director of policy advocacy, said the group has long pressed for immigration reform to deal with long-running labor shortages. 'We recognize that some workers may feel uncertain right now, and we want to be very clear: California agriculture depends on and values its workforce,' Little said in a statement. 'If federal immigration enforcement activities continue in this direction, it will become increasingly difficult to produce food, process it and get it onto grocery store shelves.' One worker, who asked not to be named out of fear, said he was picking strawberries at a Ventura County farm early Tuesday when more than a dozen cars pulled up to the farm next door. He said they arrested at least three people and put them in vans, while women who worked on the farm burst out crying. He said the supervisors on his farm did not allow the agents inside. 'The first thing that came to my mind is, who will stay with my kids?' the worker, who is originally from Mexico and has lived in the United States for two decades, said in Spanish. 'It's something so sad and unfortunate because we are not criminals.' He said he didn't go to work Wednesday out of fear, and his bosses told him to stay home at least one more day until things settle down. But that means fruit isn't getting picked, and he isn't getting paid. 'These are lost days, days that we're missing work. But what else can we do?' he said. Taxin and Pineda write for the Associated Press.
Yahoo
2 hours ago
- Yahoo
France says supports Harvard, welcomes foreign students
France's foreign minister on Saturday said his country supported students and staff at Harvard, after President Donald Trump tried to ban foreign students from the prestigious US university. "We stand with universities facing the threat of government control, restriction to their funding, constraints on their curricula or research projects," Jean-Noel Barrot said during a commencement address at the high-profile HEC business school in Paris. "We stand with Harvard faculty, with Harvard students, facing unjustified stress and anxiety right now," he added in English. "Should US courts uphold decisions to ban international students, France will offer (them) a safe place to complete their degrees," he said. Universities and research facilities in the United States have come under increasing political and financial pressure under Trump, including with threats of massive federal funding cuts. Harvard has been at the forefront of Trump's campaign against top American universities after it defied his calls to submit to oversight of its curriculum, staffing, student recruitment and "viewpoint diversity". A US court last week put a temporary stay on Trump's latest effort to stop foreign students from enrolling at Harvard. A White House proclamation a day earlier had sought to bar most new international students at Harvard from entering the country, and said existing foreign enrollees risked having their visas terminated. The US government has already cut around $3.2 billion of federal grants and contracts benefiting Harvard and pledged to exclude the institution from any future federal funding. France and the European Union are seeking to encourage disgruntled researchers to relocate from the United States to Europe. European Commission head Ursula von der Leyen said last month that the EU would launch a new incentives package worth 500 million euros ($580 million) to make the 27-nation bloc "a magnet for researchers". French President Emmanuel Macron in April unveiled plans for a funding programme to help national universities and other research bodies cover the cost of bringing foreign scientists to the country. ah/rmb
