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jilibay_official WASHINGTON (AP) — The Commerce Department's efforts to curb China's and Russia's access to American-made advanced computer chips have been “inadequate” and will need more funding to stymie their ability to manufacture advanced weapons, according to a report published Wednesday by the Senate's Permanent Subcommittee on Investigations. The Biden administration imposed export controls to limit the ability of China and Russia ability to access U.S.-made chips after Russia's invasion of Ukraine nearly three years ago. The agency's Bureau of Industry and Security, according to the report, does not have the resources to enforce export controls and has been too reliant on U.S. chip makers voluntarily complying with the rules. But the push for bolstering Commerce's export control enforcement comes as the incoming Trump administration says it is looking to dramatically reduce the size and scope of federal government . President-elect Donald Trump has tapped entrepreneurs Elon Musk and Vivek Ramaswamy to lead a new “Department of Government Efficiency” to dismantle parts of the federal government. The Trump transition team did not immediately respond to a request for comment on the report. BIS’s budget, about $191 million, has remained essentially flat since 2010 when adjusted for inflation. “While BIS’ budget has been stagnant for a decade, the bureau works diligently around the clock to meet its mission and safeguard U.S. national security,” Commerce Department spokesperson Charlie Andrews said in a statement in response to the report. Andrews added that with “necessary resources from Congress” the agency would be "better equipped to address the challenges that come with our evolving national security environment.” In a letter to Commerce Secretary Gina Raimondo on Wednesday, Democratic Sen. Richard Blumenthal of Connecticut, chair of the subcommittee, pointed to an audit of Texas Instruments that showed the Russian military continued to acquire components from Texas Instruments through front companies in Hong Kong to illustrate how the export controls are failing as an effective tool. The committee's findings, Blumenthal said, suggest that Texas Instruments “missed clear warning signs” that three companies in its distribution chain had been diverting products to Russia. Texas Instruments did not immediately respond to a request for comment. “While Congress must provide BIS more resources to undertake its critical mission, it is long past time for BIS to make full use of the enforcement powers Congress has conferred upon it and take aggressive steps to cut the flow of U.S. semiconductors into the Russian war machine,” Blumenthal wrote. It's not just Texas Instruments that's the issue. The subcommittee in September published a report that found aggregated exports from four major U.S. advanced chip manufacturers nearly doubled from 2021 to 2022 to Armenia and Georgia. Both of those countries are home to front companies known to assist Russia in acquiring advanced chips made in the U.S. despite export controls. China, meanwhile, has created “vast, barely disguised smuggling networks which enable it to continue to harness U.S. technology,” the subcommittee report asserts. Washington has been gradually expanding the number of companies affected by such export controls in China, as President Joe Biden’s administration has encouraged an expansion of investments in and manufacturing of chips in the U.S. But Chinese companies have found ways to evade export controls in part because of a lack of China subject matter experts and Chinese speakers assigned to Commerce's export control enforcement. The agency's current budget limits the number of international end-use checks, or physical verification overseas of distributors or companies receiving American-made chips that are the supposed end users of products. Currently, Commerce has only 11 export control officers spread around the globe to conduct such checks. The committee made several recommendations in its report, including Congress allocating more money for hiring additional personnel to enforce export controls, imposing larger fines on companies that violate controls and requiring periodic reviews of advanced chip companies’ export control plans by outside entities. Boak reported from West Palm Beach, Florida.

LAHAINA, Hawaii (AP) — Tyrese Hunter scored 17 of his 26 points after halftime to lead Memphis to a 99-97 overtime win against two-time defending national champion and second-ranked UConn on Monday in the first round of the Maui Invitational . Hunter shot 7 of 10 from 3-point range for the Tigers (5-0), who were 12 of 22 from beyond at the arc as a team. PJ Haggerty had 22 points and five assists, Colby Rogers had 19 points and Dain Dainja scored 14. Tarris Reed Jr. had 22 points and 11 rebounds off the bench for the Huskies (4-1). Alex Karaban had 19 points and six assists, and Jaylin Stewart scored 16. Memphis led by as many as 13 with about four minutes left in regulation, but UConn chipped away and eventually tied it on Solo Ball’s 3-pointer with 1.2 seconds remaining. Memphis: The Tigers ranked second nationally in field goal percentage going into the game and shot it at a 54.7% clip. UConn: The Huskies saw their string of 17 consecutive wins dating back to February come to an end. The teams were tied at 92 with less than a minute remaining in overtime when UConn coach Dan Hurley was assessed a technical foul for his displeasure with an over-the-back call against Liam McNeeley. PJ Carter hit four straight free throws — two for the tech and the other pair for the personal foul — to give Memphis a 96-92 lead with 40.3 seconds to play. UConn had three players foul out. Memphis attempted 40 free throws and made 29 of them. Memphis will play the winner of Colorado-Michigan State on Tuesday in the second round of the invitational. UConn will play the loser of that game in the consolation bracket. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college basketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketball .

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BOSTON, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Sezzle Inc. (Nasdaq: SEZL) for potential securities law violations. Investors who have lost money in their Sezzle Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/sezl . What is this all about? Shares of Sezzle fell 22% on December 18 after Hindenburg Research accused the company of engaging in unsustainable lending practices funded by high-interest loans, overstating its customer and merchant base, and allowing insiders to profit through margin loans. Hindenburg Research's report raises concerns regarding Sezzle’s financial health, and Sezzle's business model. Block & Leviton is investigating. Who is eligible? Anyone who purchased Sezzle Inc. common stock and has seen their shares fall may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more. What is Block & Leviton doing? Block & Leviton is investigating whether the Company committed securities law violations and may file an action to attempt to recover losses on behalf of investors who have lost money. What should you do next? If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website , by email at shareholders@blockleviton.com , or by phone at (888) 256-2510. Whistleblower? If you have non-public information about Sezzle Inc., you should consider assisting in our investigation or working with our attorneys to file a report with the Securities Exchange Commission under their whistleblower program. Whistleblowers who provide original information to the SEC may receive rewards of up to 30% of any successful recovery. For more information, contact Block & Leviton at shareholders@blockleviton.com or by phone at (888) 256-2510. Why should you contact Block & Leviton? Block & Leviton is widely regarded as one of the leading securities class action firms in the country. Our attorneys have recovered billions of dollars for defrauded investors and are dedicated to obtaining significant recoveries on behalf of our clients through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website www.blockleviton.com , call (888) 256-2510 or email shareholders@blockleviton.com with any questions. This notice may constitute attorney advertising. CONTACT: BLOCK & LEVITON LLP 260 Franklin St., Suite 1860 Boston, MA 02110 Phone: (888) 256-2510 Email: shareholders@blockleviton.comTyrese Hunter tossed in a game-high 26 points to lead Memphis to a 99-97 upset victory over No. 2 UConn on Monday in the first round of the Maui Invitational in Lahaina, Hawaii. Hunter, who played at Iowa State and Texas before transferring to Memphis, made eight field goals with 7-of-10 3-point shooting. The Tigers (5-0) connected on 12 of their 22 3-point attempts in the win. UConn's Hassan Diarra made a free throw to cut the Memphis lead to 99-97 with 2.2 seconds left. He intentionally missed the second free throw and collected the loose ball, but his desperation shot was off the mark. It was 92-92 when UConn's Liam McNeeley was called for an offensive foul with 40.3 seconds left. UConn coach Dan Hurley received a technical for arguing the foul call, and PJ Carter made all four free throws to give the Tigers a four-point lead. Memphis, which squandered a 13-point lead with four minutes to play in regulation, received 22 points from PJ Haggerty, 19 from Colby Rogers and 14 from Dain Dainja. Memphis will play the winner of Monday night's game between Colorado and Michigan State in Tuesday's semifinals. UConn will face the loser of that contest. Tarris Reed Jr. had a team-high 22 points and a game-high 11 rebounds for UConn (4-1) before he fouled out with 3:18 to play. He made 10 of his 13 field goal attempts. Alex Karaban added 19 points for the Huskies. Jaylin Stewart scored a career-high 16 points, Diarra had 12 and McNeeley added 10. UConn trailed 82-79 after Diarra made two free throws with 24.2 seconds to play in regulation. The Huskies then forced a turnover and tied the game on a 3-pointer by Solo Ball with 1.2 on the clock. Although Memphis shot 56.5 percent from the field (13 for 23) and 50 percent from 3-point territory (5 for 10) in the first half, the game was tied 40-40 after 20 minutes. Neither team led by more than six points in the half. UConn received 29 points from its bench in the first half. Reed scored 15 of those points and Stewart supplied the other 14. --Field Level Media

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