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Thursday, August 21, 2025

Multimillion Dollar LA-Area Cargo Theft Ring Busted

 by Jill McLaughlin via The Epoch Times (emphasis ours),

Authorities in Los Angeles County have cracked a storefront operation trafficking millions of dollars worth of goods allegedly stolen in train and cargo burglaries, officials announced on Aug. 20.

Cardboard boxes left from stolen cargo lay strewn across railroad tracks in Los Angeles on Jan. 14, 2022. John Fredricks/The Epoch Times

A total of $4.5 million in stolen property—including power tools, appliances, and electric bikes—was recovered on Aug. 14 and Aug. 19 when investigators searched two locations of DJ General Tool and Wire, located in Montebello and Huntington Park.

Several pricey brands were uncovered, including Dyson, Milwaukee, DeWalt, and Makita products. Many of the items were being sold at the stores and online, according to the Los Angeles Police Department (LAPD).

LAPD detectives worked with the Union Pacific Police Department and the Los Angeles Port Police during the operation.

Dojoon Park, 41, of Montebello, was arrested on Aug. 14 and booked at the LAPD’s Metropolitan Detention Center on suspicion of receiving stolen property, a felony.

Park was released the same day, in accordance with the county’s zero-bail policy. He is scheduled to appear in court on Sept. 8.

Neither DJ General Tool and Wire nor Park could be reached for comment.

Organized cargo and retail theft strikes at the heart of our economy, impacting local businesses, workers, and everyday families,” said LAPD Chief Jim McDonnell. “This operation underscores our department’s commitment to dismantling criminal networks that profit from stolen goods.”

The investigation is ongoing, and detectives anticipate more arrests, the LAPD said.

Los Angeles County District Attorney Nathan Hochman’s office is expected to file charges against Park. The office did not return a request for information about the charges.

Cargo theft is not a victimless crime,” Hochman said in a statement. “It hurts businesses, damages the supply chain, and drives up costs for everyone.

The Port of Los Angeles has been a hot spot for cargo crime in recent years. Authorities have reported a surge in thefts, driven by organized crime rings.

Cargo theft in the United States and Canada reached a record high of 3,625 incidents in 2024, up 27 percent from the previous year, according to CargoNet data reported by wholesale insurance broker Burns and Wilcox.

California’s cargo theft incidents rose by 33 percent last year from 2023, the data showed.

In April, the LAPD arrested two prominent members of a South American theft group after an extensive investigation into cargo theft in the Los Angeles area.

Detectives arrested Oscar David Borrero-Manchola, 41, and Yonaiker Rafael Martinez-Ramos, 25, after investigators uncovered more than $1.2 million in stolen tequila, speakers, coffee, clothing, shoes, body wash, and pet food at storage facilities in the San Fernando Valley.

Authorities also recovered a stolen shipment of bitcoin mining computers valued at $2.7 million from Los Angeles International Airport. The computers were about to be loaded onto a plane headed to Hong Kong, the LAPD reported.

https://www.zerohedge.com/markets/authorities-bust-multimillion-dollar-la-area-cargo-theft-ring

Trump administration is not eyeing equity in TSMC, Micron, official says

 The Trump administration is considering taking equity stakes in companies getting funds from the 2022 CHIPS Act but has no similar plans for bigger firms boosting U.S. investments, such as TSMC and Micron, a White House official told Reuters.

The official confirmed a Wall Street Journal report that the administration does not intend to seek equity stakes in semiconductor companies, such as Micron and TSMC, that plan to step up investment

On Tuesday, U.S. Commerce Secretary Howard Lutnick said the government continued to work on the possibility of taking a 10% stake in troubled chipmaker Intel and suggested it would seek further stakes in other grant recipients.

"If we're going to give you the money, we want a piece of the action for the American taxpayer," Lutnick told CNBC.

While the Biden administration had been giving "money for free" to companies such as Intel and TSMC, he added, "Donald Trump turned it into saying, 'Hey, we want equity for the money.'"

At a March event with President Donald Trump at the White House, TSMC, which has Nvidia and Apple as key clients, announced plans for the new $100-billion U.S. investment, in addition to $65 billion committed for three manufacturing facilities in the state of Arizona.

Micron boosted its U.s. investment plans in June.

TSMC executives have already had discussions about returning their subsidies if the administration asks to become a shareholder, the Wall Street Journal said.

The White House and TSMC declined to comment. Micron did not immediately respond to a request for comment.

The U.S. Commerce Department, which oversees the $52.7- billion CHIPS and Science Act, finalized subsidies of $6.6 billion late last year for TSMC to produce semiconductors in the United States.

The commerce department did not immediately comment.

Besides Intel, Micron, TSMC and Samsung were among the biggest recipients of CHIPS Act funding, but almost all of it has yet to be disbursed.

Trump has previously said he wanted to kill the CHIPS Act program.

In the past, the U.S. government has taken stakes in companies during periods of economic uncertainty to provide financial support and restore confidence.

https://finance.yahoo.com/news/trump-administration-not-eyeing-equity-235825278.html

Putin's demand to Ukraine: give up Donbas, no NATO and no Western troops, sources say

 Vladimir Putin is demanding that Ukraine give up all of the eastern Donbas region, renounce ambitions to join NATO, remain neutral and keep Western troops out of the country, three sources familiar with top-level Kremlin thinking told Reuters.

The Russian president met Donald Trump in Alaska on Friday for the first Russia-U.S. summit in more than four years and spent almost all of their three-hour closed meeting discussing what a compromise on Ukraine might look like, according to the sources who requested anonymity to discuss sensitive matters.

Speaking afterwards beside Trump, Putin said the meeting would hopefully open up the road to peace in Ukraine - but neither leader gave specifics about what they discussed.

In the most detailed Russian-based reporting to date on Putin's offer at the summit, Reuters was able to outline the contours of what the Kremlin would like to see in a possible peace deal to end a war that has killed and injured hundreds of thousands of people.

In essence, the Russian sources said, Putin has compromised on territorial demands he laid out in June 2024, which required Kyiv to cede the entirety of the four provinces Moscow claims as part of Russia: Donetsk and Luhansk in eastern Ukraine - which make up the Donbas - plus Kherson and Zaporizhzhia in the south.

Kyiv rejected those terms as tantamount to surrender.

In his new proposal, the Russian president has stuck to his demand that Ukraine completely withdraw from the parts of the Donbas it still controls, according to the three sources. In return, though, Moscow would halt the current front lines in Zaporizhzhia and Kherson, they added.

Russia controls about 88% of the Donbas and 73% of Zaporizhzhia and Kherson, according to U.S. estimates and open-source data.

Moscow is also willing to hand over the small parts of the Kharkiv, Sumy, and Dnipropetrovsk regions of Ukraine it controls as part of a possible deal, the sources said.

Putin is sticking, too, to his previous demands that Ukraine give up its NATO ambitions and for a legally binding pledge from the U.S.-led military alliance that it will not expand further eastwards, as well as for limits on the Ukrainian army and an agreement that no Western troops will be deployed on the ground in Ukraine as part of a peacekeeping force, the sources said.

Yet the two sides remain far apart, more than three years after Putin ordered thousands of Russian troops into Ukraine in a full-scale invasion that followed the annexation of the Crimean peninsula in 2014 and prolonged fighting in the country's east between Russian-backed separatists and Ukrainian troops.

Ukraine's foreign ministry had no immediate comment on the proposals.

President Volodymyr Zelenskiy has repeatedly dismissed the idea of withdrawing from internationally recognised Ukrainian land as part of a deal, and has said the industrial Donbas region serves as a fortress holding back Russian advances deeper into Ukraine.

"If we're talking about simply withdrawing from the east, we cannot do that," he told reporters in comments released by Kyiv on Thursday. "It is a matter of our country's survival, involving the strongest defensive lines."

Joining NATO, meanwhile, is a strategic objective enshrined in the country's constitution and one which Kyiv sees as its most reliable security guarantee. Zelenskiy said it was not up to Russia to decide on the alliance's membership.

The White House and NATO didn't immediately respond to requests for comment on the Russian proposals.

Political scientist Samuel Charap, chair in Russia and Eurasia Policy at RAND, a U.S.-based global policy think-tank, said any requirement for Ukraine to withdraw from the Donbas remained a non-starter for Kyiv, both politically and strategically.

"Openness to 'peace' on terms categorically unacceptable to the other side could be more of a performance for Trump than a sign of a true willingness to compromise," he added. "The only way to test that proposition is to begin a serious process at the working level to hash out those details."

TRUMP: PUTIN WANTS TO SEE IT ENDED

Russian forces currently control a fifth of Ukraine, an area about the size of the American state of Ohio, according to U.S. estimates and open-source maps.

The three sources close to the Kremlin said the summit in the Alaskan city of Anchorage had ushered in the best chance for peace since the war began because there had been specific discussions about Russia's terms and Putin had shown a willingness to give ground.

"Putin is ready for peace - for compromise. That is the message that was conveyed to Trump," one of the people said.

The sources cautioned that it was unclear to Moscow whether Ukraine would be prepared to cede the remains of the Donbas, and that if it did not then the war would continue. Also unclear was whether or not the United States would give any recognition to Russian-held Ukrainian territory, they added.

A fourth source said that though economic issues were secondary for Putin, he understood the economic vulnerability of Russia and the scale of the effort needed to go far further into Ukraine.

Trump has said he wants to end the "bloodbath" of the war and be remembered as a "peacemaker president". He said on Monday he had begun arranging a meeting between the Russian and Ukrainian leaders, to be followed by a trilateral summit with the U.S. president.

"I believe Vladimir Putin wants to see it ended," Trump said beside Zelenskiy in the Oval office. "I feel confident we are going to get it solved."

Russian Foreign Minister Sergei Lavrov said on Thursday that Putin was prepared to meet Zelenskiy but that all issues had to be worked through first and there was a question about Zelenskiy's authority to sign a peace deal.

Putin has repeatedly raised doubts about Zelenskiy's legitimacy as his term in office was due to expire in May 2024 but the war means no new presidential election has yet been held. Kyiv says Zelenskiy remains the legitimate president.

The leaders of Britain, France and Germany have said they are sceptical that Putin wants to end the war.

SECURITY GUARANTEES FOR UKRAINE

Trump's special envoy Steve Witkoff was instrumental in paving the way for the summit, and the latest drive for peace, according to two of the Russian sources.

Witkoff met Putin in the Kremlin on August 6 with Kremlin aide Yuri Ushakov. At the meeting, Putin conveyed clearly to Witkoff that he was ready to compromise and set out the contours of what he could accept for peace, according to two Russian sources.

If Russia and Ukraine could reach an agreement, then there are various options for a formal deal - including a possible three-way Russia-Ukraine-U.S. deal that is recognised by the U.N. Security Council, one of the sources said.

Another option is to go back to the failed 2022 Istanbul agreements, where Russia and Ukraine discussed Ukraine's permanent neutrality in return for security guarantees from the five permanent members of the U.N. Security Council: Britain, China, France, Russia and the United States, the sources added.

"There are two choices: war or peace, and if there is no peace, then there is more war," one of the people said.

https://uk.news.yahoo.com/exclusive-putins-demand-ukraine-donbas-150626626.html

Nvidia CEO in Taipei to visit TSMC, says in talks with US over new China chip

Nvidia CEO Jensen Huang arrived in Taipei on Friday to visit chip foundry partner TSMC, as the biggest U.S. company navigates rising friction between Washington and Beijing over access to its industry-leading AI chips.

"My main purpose coming here is to visit TSMC," he told reporters, adding that he would only stay a few hours and leave after dinner with TSMC leaders, according to a live feed broadcast by local media at Taipei's Songshan airport, where he landed in a private jet.

TSMC did not immediately respond to a request for comment.

U.S. President Donald Trump earlier this month opened the door to the possibility of more advanced Nvidia chips beyond the H20 being sold in China.

Reuters earlier this week reported that Nvidia was working on a new chip tentatively named the B30A based on its latest Blackwell architecture that will be more powerful than the H20 model.

Asked about the B30A, Huang said Nvidia was in talks with the U.S. over offering China a successor to its H20 chip, but that it was not their decision to make.

"It’s up to, of course, the U.S. government, and we are in dialogue with them, but it is too soon to know." he said.

Complicating Nvidia's effort to retain market share in China has been allegations by Chinese state media that the U.S. company's chips could pose security risks.

Authorities last week summoned Chinese tech firms about purchasing the H20, raising concerns about potential information security risks.

Huang said that shipping the H20 to China was not a national security concern and that the ability to ship the H20 chips to China was "very much appreciated".

Trade publication The Information reported on Thursday that Nvidia instructed Arizona-based Amkor Technology to stop production of its H20 chips this week and also notified South Korea's Samsung Electronics, citing two people with direct knowledge of the communications.

Amkor handles advanced packaging for the chip, while Samsung Electronics supplies high-bandwidth memory chips for the model.

Neither company immediately responded to a Reuters request for comment.

"We constantly manage our supply chain to address market conditions," Nvidia spokesperson said in a statement, adding, "As both governments recognise, the H20 is not a military product or for government infrastructure."

"China won't rely on American chips for government operations, just like the U.S. government would not rely on chips from China. However, allowing U.S. chips for beneficial commercial business use is good for everyone," it said.

https://finance.yahoo.com/news/nvidia-ceo-taipei-visit-tsmc-025303358.html

Erik Menendez denied parole after 35 years in prison for parents' murder

 Erik Menendez, who along with his brother Lyle has served 35 years of a life prison term for the 1989 shotgun murders of their parents in their Beverly Hills, California, home, was denied parole on Thursday, the California Board of Parole Hearings said.

https://www.yahoo.com/news/articles/erik-menendez-denied-parole-35-015526954.html

Trump weighs using $2 billion in CHIPS Act funding for critical minerals, sources say

 The Trump administration is considering a plan to reallocate at least $2 billion from the CHIPS Act to fund critical minerals projects and boost Commerce Secretary Howard Lutnick's influence over the strategic sector, two sources familiar with the matter told Reuters.

The proposed move would take from funds already allocated by Congress for semiconductor research and chip factory construction, avoiding a fresh spending request as it seeks to reduce U.S. dependence on China for critical minerals used widely in the electronics and defense industries.

Boosting Lutnick's role over critical minerals financing would also help centralize the administration's approach to the sector, a push sought by White House officials after the rollout of the Pentagon investment in rare earths company MP Materials last month sparked questions about the U.S. government's minerals strategy, one source said.

The White House did not respond to requests for comment. Pentagon officials were not immediately available to comment. MP Materials declined to comment.

The Commerce Department oversees the $52.7 billion CHIPS Act, formally known as the CHIPS and Science Act. The act, signed into law by then-President Joe Biden in 2022, has provided funding so far for research while also seeking to lure chip production away from Asia and boost American domestic semiconductor production.

But since taking office in January, Trump has moved to change the CHIPS Act - legislation he has called "a horrible, horrible thing" that amounts to a giveaway to companies - largely by renegotiating grants to chipmakers.

Repurposing some funds for mining-related projects would align in part with the spirit of the CHIPS Act as the semiconductor industry requires abundant supplies of germanium, gallium and other critical minerals over which China has tightened its market control, said the sources, who are not permitted to speak publicly about the deliberations.

"The administration is creatively trying to find ways to fund the critical minerals sector," said the first source. The plans are under discussion and could change, the sources added.

Mining companies themselves could benefit, but also processing and recycling firms. Most of the minerals considered critical by the U.S. government are not processed inside the country.

Kent Masters, CEO of North Carolina-based Albemarle, the world's largest producer of lithium for rechargeable batteries, told Reuters last month that the company's stalled plans to build a U.S. lithium refinery are "difficult now without some type of government support or partnership."

It was not immediately clear if the Trump administration aimed to use the funds for grants or equity stakes in mining companies, but Lutnick aims to "get the $2 billion out the door" as soon as possible, the first source said, adding that the administration aims to find other funds to reallocate in the near future.

A former U.S. official said the Biden administration considered using CHIPS Act grants for rare earths but decided it was uneconomical, required many environmental exemptions and was best left for the Department of Energy to handle.

The administration is also looking to use CHIPS Act-related funding to take equity stakes in Intel and other chip makers in exchange for cash grants, Reuters reported on Tuesday.

Trump moved quickly to expand U.S. critical minerals production since taking office in January by signing executive orders to boost deep-sea mining and domestic projects.

On Tuesday he met with the CEOs of Rio Tinto and BHP at the White House despite the ongoing negotiations with European leaders over Russia's invasion of Ukraine, a move aimed at underscoring his support for U.S. mining.

The CHIPS Act deliberations come after the Energy Department last week proposed $1 billion in spending for some critical minerals projects, with funds tied to the 2021 Bipartisan Infrastructure Law.

The White House aims to give Lutnick a greater role over funding decisions for critical minerals by giving him oversight of the decision making process within the administration, the sources said.

The Pentagon's multibillion-dollar investment in MP Materials and its move to extend a price support mechanism - a deal negotiated by Deputy Defense Secretary Steve Feinberg - was seen by White House Chief of Staff Susie Wiles as uncoordinated as it sparked confusion over whether Washington would guarantee a price floor for all miners and forced the administration to clarify that it does not intend for MP to have a rare earths monopoly, the two sources said.

Much of the funding for MP's deal - including Washington's equity stake, loans and purchase agreements - still needs to be allocated by Congress.

Two weeks after the Pentagon announced its MP investment, administration officials rushed to meet at the White House with rare earths firms and their customers to underscore broad support for the entire sector, Reuters reported.

Lutnick will now help coordinate the administration's funding decisions, taking the lead from the Pentagon and other agencies, the sources said.

Lutnick ran brokerage firm Cantor Fitzgerald before he joined Trump's cabinet. Cantor is a large shareholder in Critical Metals Corp, which Reuters reported in June is under consideration for a loan from the U.S. Export-Import Bank.

https://finance.yahoo.com/news/exclusive-trump-weighs-using-2-190927826.html

Pop Mart, Health-Care Stocks Lead Hang Seng Index Contenders

 


Hang Seng Indexes Co. is likely adding Labubu doll-maker Pop Mart International Group Ltd. and several health-care firms to its Hong Kong stock benchmark, analysts say.

Pop Mart has been a frequent contender for inclusion in the Hang Seng Index, with its market capitalization more than tripling this year amid strong demand for its toys and figurines. Health-care stocks have also gained momentum, driven by breakthroughs and overseas partnerships that have lifted sector performance. The results of the quarterly review are expected to be released after the market closes on Friday.

https://www.bloomberg.com/news/articles/2025-08-21/pop-mart-health-care-stocks-lead-hang-seng-index-contenders