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1,419 views • June 19, 2024

DOJ: Chinese Group Laundered Money for Mexican Drug Cartel; 18 Million Homeowners Are ‘House-Poor’ | Business Matters Full Broadcast (June 29)

A five-year investigation by U.S. officials has uncovered a complex partnership between one of Mexico’s most notorious drug cartels and Chinese underground banking groups in the United States that laundered money from the sale of fentanyl, cocaine, and other drugs, federal prosecutors said Tuesday. Legacy U.S. automakers such as Ford Motor and General Motors should leave the Chinese market to preserve capital amid the costly electric vehicle transition, leading auto analyst John Murphy said on Tuesday. Auto expert Paul Eisenstein gives his take on Mr. Murphy’s analysis, and why automakers could be collateral damage in the U.S.–China trade friction. The U.S. Senate on Tuesday passed a bill to accelerate the deployment of nuclear energy capacity, including by speeding up permitting and creating new incentives for advanced nuclear reactor technologies. Trump Media & Technology Group said on Tuesday that the Securities and Exchange Commission has declared effective the company's filing for resale of certain shares and warrants, potentially giving it about $247 million in proceeds.
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