Trump's financial watchdogs promise a revolution
After an election, America's financial agencies experience what is known as the 'regulatory pendulum'. Priorities and philosophies change as the new president picks appointees to supervise American markets, banks and other financial institutions. Although the pendulum has swung violently in the past, it has never swung quite as violently as now.
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The Herald Scotland
16 minutes ago
- The Herald Scotland
Supreme Court lets Trump revoke migrants' temporary status
Jackson wrote that the court "plainly botched" its assessment of whether the government or the migrants would suffer the greater harm if the migrants' legal status ends while the case is being litigated. Jackson said the majority undervalued "the devastating consequences of allowing the Government to precipitously upend the lives and livelihoods of nearly half a million noncitizens while their legal claims are pending." The administration wants to cut short a program that provided a two-year haven for immigrants because of economic, security, political and health crises in their home countries. Lawyers for the migrants said half a million people lawfully in the country will become subject to deportation, what it called the "largest mass illegalization event in modern American history." Labor unions and communities that have welcomed the migrants said they've filled gaps in key industries, including healthcare, construction and manufacturing. Nearly 20% of the workers at one automotive parts manufacturer are in the temporary program, according to labor unions. The Trump administration said it's determined the migrants' presence in the United States is "against the national interests" and the courts don't get to decide otherwise. The move is part of the President Donald Trump's crackdown on immigration and push to ramp up deportations, including of noncitizens previously granted a legal right to live and work in the United States. The Biden administration hoped the program would deter migrants from those countries from trying to enter the country illegally. But the Trump administration cancelled people's work permits and deportation protections, arguing the program failed as a deterrent and makes it harder to enforce immigration laws for those already in the country. Immigrant rights groups challenged the change on behalf of the immigrants and their sponsors. A federal judge in Massachusetts said the abrupt curtailing of the program was based on a legal error, as the administration wrongly concluded that letting the temporary status naturally expire would foreclose the Homeland Security Department's ability to legally expedite their deportations. District Judge Indira Talwani, an appointee of Democratic President Barack Obama, also said early cancellation of protections requires a case-by-case review for each participant. A three-judge panel of the Boston-based 1st U.S. Circuit Court of Appeals backed Talwani's decision to temporarily block mass cancellation. All three judges were appointed by Democratic presidents. The Justice Department argued the lower courts are "undoing democratically approved policies that featured heavily in the November election." Lawyers for a group of cities and counties said the abrupt cancellation of the program "would case severe economic and societal harms."
The Herald Scotland
16 minutes ago
- The Herald Scotland
Family business in Texas indicted in Mexican drug cartel oil scheme
A total of 2,881 of shipments Jensen's company received since May 2022 came from Mexican smugglers tied to the Cartel de Jalisco Nueva Generacion, according to the U.S. Attorney's Office for the Southern District of Texas. Experts have previously told USA TODAY that the CJNG organized crime group is perhaps the most militant in Mexico, turning regions into essentially warzones. The case against the Jensens comes as authorities under President Donald Trump aim to apply greater pressure to cartels smuggling drugs in the U.S. In February, the U.S. State Department designated CJNG, the Sinaloa Cartel and other crime groups as terrorist organizations. "This case underscores the more aggressive and innovative approach the Southern District of Texas is taking towards combating the scourge of drug cartels," said U.S. Attorney Nicholas J. Ganjei. "This strategy focuses not just on the traffickers and trigger-pullers directly employed by the cartels, but also targeting their confederates and enablers." Most of the charges are against James and Maxwell Jensen, who face up to 20 years in prison for money laundering. They face up to 15 years collectively if convicted of aiding and abetting smuggling goods under false statements. Lawyers for the Jensens did not respond to repeated requests for comment. Oil smuggling is a multi-billion-dollar business for cartels, according to the Treasury Department. A Drug Enforcement Administration official called it "the largest funding source for Mexican drug cartels." American authorities' move to crack down on the Texas company handling smuggled oil comes as Mexican authorities say the practice has been a widespread issue for years with devastating effects south of the border. "The narrative is that everything bad is done in Mexico and the USA only suffers the drugs," Jesus Perez Caballero, a Mexican government researcher, told USA TODAY. "But it's impossible to do this kind of complex business without these links to support it." Mexican smugglers depend on American refiners, small-time oil producers and distributors to make money from the theft. "It's a good start to recognize that the USA is not a passive actor in this business," Caballero said. "It's as active as the Mexican one." What are the charges against the Jensens? The Jensens have operated Arroyo Terminals in Rio Hondo, Texas, since 2020, according to James Jensen's LinkedIn page. Terminals are crucial distribution points in the oil economy, storing oil as it moves between producers and refineries. Prosecutors allege that from May 2022 through April 2025, the Jensens' Texas terminals served as a key waypoint for smuggled oil from Mexico, according to the indictment. The family received a total of 2,881 shipments of stolen oil, court filings claim. The oil was shipped using fraudulent authentication papers and labels, including "waste of lube oils," the indictment alleges. The father faces up to 10 years for money laundering spending. According to the money, he used money from the smuggling operation to buy a 2024 GMC vehicle. Kelly and Zachary Jensen are charged with money laundering conspiracy. Kelly is also charged with money laundering spending conspiracy. Items they were ordered to forfeit, according to the indictment, included barges for ferrying oil, tractor trailers, the GMC vehicle, a Chevy Stingray registered to Kelly Jensen and a property in Utah where the family has roots. Ties between Mexican and American smugglers The family isn't the first in Texas to face charges related to smuggling cartel oil, according to experts. Ramanan Krishnamoorti, a researcher at the University of Houston, said the practice has been going on for years at many small-time oil operations. Smugglers ferry the oil into the U.S. aboard boats or by crossing the border where the traffic is so high that border agents are unlikely to uncover it without significant increases in border crossings. A typical scheme brings the smuggled oil to "mom and pop" operations throughout Texas, according to Krishnamoorti. The oil is then added to their own supply and by the time it makes it to refineries, it can be hard to tell the difference. The total amount of smuggled oil is "literally a drop in the ocean," said Krishnamoorti. But "it's significant for the cartels in terms of being able to steal and sell." Americans involved can make as much as $5 million per barge of smuggled oil, according to the Treasury Department. The oil is then shipped to markets around the world, from Japan and India to Africa and even right back into Mexico. Deep seated problem in Mexico Guadalupe Correa-Cabrera, a researcher at George Mason University and author of a book on Los Zetas cartel, said issues of oil smuggling in Mexico are longstanding. Mexico's state oil company Pemex has a legacy of corruption scandals and oil smuggling is just one of charges against operators. The company dates back to the nationalization in 1938 of all private oil companies in the country. Correa-Cabrera said the scrutiny of American involvement is overdue. "Somebody has to refine this crude oil or gas condensate," she said, "and there's refineries in the U.S. that sell this massively back down south." She lauded U.S. authorities for going after Americans involved in order to help fight cartels. But she fears the organized crime groups will be blamed for a more deeply rooted problem. "The cartel participation is not as important as we imagine," Correa-Cabrera said. "It's not like stealing 18-wheelers, it involves knowing about the pipes, the surveillance of the pipes, really specialized knowledge." She said the smuggling operations likely depend on everyone from engineers at the pipelines to military officials responsible for watching the border. "The stories and the coverage has been directed toward cartels," she said. "But you cannot imagine this happening without all these other parts."
Yahoo
17 minutes ago
- Yahoo
Why ALSO Holding AG (VTX:ALSN) Could Be Worth Watching
ALSO Holding AG (VTX:ALSN), might not be a large cap stock, but it saw a decent share price growth of 20% on the SWX over the last few months. The company is inching closer to its yearly highs following the recent share price climb. As a mid-cap stock with high coverage by analysts, you could assume any recent changes in the company's outlook is already priced into the stock. However, could the stock still be trading at a relatively cheap price? Let's take a look at ALSO Holding's outlook and value based on the most recent financial data to see if the opportunity still exists. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. The share price seems sensible at the moment according to our price multiple model, where we compare the company's price-to-earnings ratio to the industry average. We've used the price-to-earnings ratio in this instance because there's not enough visibility to forecast its cash flows. The stock's ratio of 29.59x is currently trading slightly below its industry peers' ratio of 29.85x, which means if you buy ALSO Holding today, you'd be paying a reasonable price for it. And if you believe that ALSO Holding should be trading at this level in the long run, then there's not much of an upside to gain over and above other industry peers. Furthermore, ALSO Holding's share price also seems relatively stable compared to the rest of the market, as indicated by its low beta. This may mean it is less likely for the stock to fall lower from natural market volatility, which suggests less opportunities to buy moving forward. View our latest analysis for ALSO Holding Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Buying a great company with a robust outlook at a cheap price is always a good investment, so let's also take a look at the company's future expectations. ALSO Holding's earnings over the next few years are expected to increase by 97%, indicating a highly optimistic future ahead. This should lead to more robust cash flows, feeding into a higher share value. Are you a shareholder? ALSN's optimistic future growth appears to have been factored into the current share price, with shares trading around industry price multiples. However, there are also other important factors which we haven't considered today, such as the track record of its management team. Have these factors changed since the last time you looked at ALSN? Will you have enough confidence to invest in the company should the price drop below the industry PE ratio? Are you a potential investor? If you've been keeping an eye on ALSN, now may not be the most advantageous time to buy, given it is trading around industry price multiples. However, the optimistic forecast is encouraging for ALSN, which means it's worth further examining other factors such as the strength of its balance sheet, in order to take advantage of the next price drop. Diving deeper into the forecasts for ALSO Holding mentioned earlier will help you understand how analysts view the stock going forward. Luckily, you can check out what analysts are forecasting by clicking here. If you are no longer interested in ALSO Holding, you can use our free platform to see our list of over 50 other stocks with a high growth potential. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
