Wall Street ends mostly flat after records, logs third winning week
U.S. markets closed mostly flat Friday, capping a third winning week out of four....
President Donald Trump has ordered a halt to foreign bribery prosecutions under the Foreign Corrupt Practices Act (FCPA), aiming to boost U.S. business competitiveness globally.
President Donald Trump on Monday planned to sign an executive order directing the Justice Department to pause prosecutions of Americans accused of bribing foreign officials while seeking business opportunities abroad.
According to a fact sheet seen by Reuters, the order seeks to revise enforcement of the Foreign Corrupt Practices Act (FCPA) of 1977, arguing that excessive and unpredictable prosecutions have put U.S. companies at a disadvantage against global competitors. The directive instructs Attorney General Pam Bondi to suspend enforcement until she establishes new guidelines that align with American economic interests.
"American national security depends on America and its companies gaining strategic commercial advantages around the world, and President Trump is stopping excessive, unpredictable FCPA enforcement that makes American companies less competitive," the fact sheet states.
Under the order, all future FCPA investigations and enforcement actions must adhere to the revised guidance and receive approval from the attorney general. The White House argues that U.S. firms are disproportionately affected by strict enforcement, while foreign competitors operate under more lenient regulations, creating an uneven playing field.
The order highlights sectors crucial to national security, including critical minerals, deep-water ports, and key infrastructure, where American firms should gain a strategic advantage.
In 2024, the Justice Department and the Securities Exchange Commission (SEC) filed 26 FCPA-related enforcement actions, with at least 31 companies under investigation by the end of the year, the fact sheet notes.
Trump’s decision is expected to draw both support from business groups seeking relief from regulatory burdens and criticism from transparency advocates who argue that the move weakens anti-corruption efforts.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
Germany's export slump since 2021 is largely driven by deep-rooted competitiveness issues, the Bundesbank warned in its latest report, calling for urgent structural reforms.
Israeli researchers have unveiled an artificial intelligence tool that can determine a person’s true biological age from tiny DNA samples with remarkable precision.
Two Harry Potter actresses, Emma Watson and Zoe Wanamaker, have each received a six-month driving ban after separate speeding offences, both sentenced on the same day at a Buckinghamshire court.
Nepal has banned access to the Telegram messaging app, citing its role in a growing number of online fraud and money laundering cases across the country.
North Korea has stopped foreign tourists from visiting its new Wonsan-Kalma resort just weeks after it welcomed the first Russian visitors.
U.S. President Donald Trump says Coca-Cola has agreed to use real cane sugar in the U.S., though the company has not confirmed the claim.
The U.S. ambassador to Türkiye says Israel and Syria have reached a ceasefire deal supported by Türkiye, Jordan, and regional actors after cross-border strikes this week heightened tensions.
The Trump administration has completed a controversial prisoner swap with Venezuela, returning around 250 deported Venezuelans in exchange for 10 American detainees.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment