Biden taps Tucson police chief to lead CBP The president also announced his pick for director of U.S. Citizenship and Immigration Services. President Joe Biden on Monday announced his intent to nominate Chris Magnus as commissioner of U.S. Customs and Border Protection. | Ben Margot/AP Photo President Joe Biden on Monday announced his intent to nominate Chris Magnus as commissioner of U.S. Customs and Border Protection — tapping a police chief from Tucson, Ariz., to oversee the mammoth Department of Homeland Security agency tasked with managing the country's borders. Biden also said he intends to nominate Ur Jaddou — who previously served as director of DHS Watch, a project of the immigration reform group America's Voice — as director of U.S. Citizenship and Immigration Services, POLITICO confirmed. DHS Secretary Alejandro Mayorkas praised Biden's picks in a statement as "highly-regarded and accomplished professionals with deep experience in their respective fields." url "Together they will help advance the Department of Homeland Security's mission to ensure the safety and security of the American people," Mayorkas said. "I look forward to working with the Senate in support of their swift confirmation." The personnel announcements come as the White House has faced criticism in recent weeks for not putting forward nominees to lead federal agencies that play crucial roles in addressing the influx of Central American migrants at the southern border. Biden still has yet to announce his nominee for director of U.S. Immigration and Customs Enforcement, and Roberta Jacobson — a former ambassador to Mexico who serves as Biden's southern border coordinator — is expected to depart the administration at the end of the month. Although Biden has charged Vice President Kamala Harris with overseeing the administration's diplomatic efforts in Central America, the White House has made clear that the burden of processing the massive numbers of migrants seeking to enter the U.S. through click over here Mexico — many of whom are unaccompanied children — will fall to DHS leadership. Apart from Magnus at CBP and Jaddou at USCIS, Biden announced several other intended nominees for high-profile posts at the department on Monday, including: Jon Meyer as DHS general counsel; Robert Silvers as DHS under secretary for strategy, policy, and plans; and John Tien as DHS deputy secretary. Additionally, Biden said he would nominate Jen Easterly as director of the Cybersecurity & Infrastructure Security Agency, which operates under DHS oversight.
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And the central bank is said to be leading discussions around establishing a joint venture with local technology giants to oversee the lucrative data they collect from hundreds of millions of consumers, which would be a significant escalation in regulators’ attempts to tighten their grip over the country’s internet sector.“The high fine puts the regulator in the media spotlight and sends a strong signal to the tech sector that such types of exclusionary conduct will no longer be tolerated,” said Angela Zhang, author of “Chinese Antitrust Exceptionalism” and director of the Centre for Chinese Law at the University of Hong Kong. “It’s a stone that kills two birds.”For now, it appears investors are just glad it wasn’t worse. In its statement, the State Administration for Market Regulation concluded Alibaba had used data and algorithms “to maintain and strengthen its own market power and obtain improper competitive advantage.” Its practice of imposing a “pick one from two” choice on merchants “shuts out and restricts competition” in the domestic online retail market, according to the statement.The firm will be required to implement “comprehensive rectifications,” including strengthening internal controls, upholding fair competition and protecting businesses on its platform and consumers’ rights, the regulator said. It will need to submit reports on self-regulation to the authority for three consecutive years.The company will have to make adjustments but can now “start over,” Zhang wrote in a memo to Alibaba’s employees Saturday.“We believe market concerns over the anti-monopoly investigation on BABA are addressed by SAMR’s recent decision and penalties,” Jefferies analysts wrote in a research note entitled “A New Starting Point.”Indeed, The People’s Daily said in its commentary Saturday that the punishment was intended merely to “prevent the disorderly expansion of capital.”“It doesn’t mean denying the significant role of platform economy in overall economic and social development, and doesn’t signal a shift of attitude in terms of the country’s support to the platform economy,” the newspaper said. “Regulations are for better development, and ‘reining in’ is also a kind of love.”(Updates with shares and commentary from the fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Holt to head KPMG's UK arm ahead of Carillion probe outcome Global accountants KPMG said on Monday that Jon Holt has been elected by partners to head its 2.3 billion pound ($3.17 billion) UK arm, which faces a potential fine and major industry reform. Holt, head of audit since 2019, takes up the CEO job immediately until September 2025, replacing Bill Michael, who resigned after reports that he told partners to "stop moaning" about the impact of COVID-19 on their lives. "Now is the time to challenge ways of working and use what we’ve learnt during the pandemic to really drive positive action," Holt said in a statement. Bitcoin Nears Record Before Largest U.S. Crypto Exchange Listing (Bloomberg) -- Bitcoin neared an all-time high on Monday as bullish sentiment gathered steam ahead of a listing by the largest U.S. cryptocurrency exchange.The token rose as much as 2.6% to $61,229, the highest in nearly a month, before falling back to trade little changed. On March 13, Bitcoin reached a record of $61,742. The cryptocurrency is up almost ninefold in the past year, a return that towers above that of more familiar assets like equities or bullion.Against the backdrop of Wall Street’s growing embrace of crypto, the direct listing of digital-token exchange Coinbase Global Inc. is fanning interest. Coinbase is due to go public on the Nasdaq on April 14, the first listing of its kind for a major cryptocurrency company and a test of investor appetite for other start-ups in the sector.“A crypto company moving to IPO is a big milestone,” said Nick Jones, CEO and co-founder at cryptocurrency wallet Zumo. “It’s moves like this that make consumers feel safer with crypto and ultimately boost confidence in the space.”A growing list of companies are looking at or even investing in Bitcoin, drawn by client demand, price momentum and arguments that it can hedge risks such as faster inflation. Tesla Inc. earlier this year disclosed a $1.5 billion investment in Bitcoin and more recently started accepting it as payment for electric cars.Elsewhere, Goldman Sachs Group Inc. has said it’s close to offering investment vehicles for Bitcoin and other digital assets to private wealth clients. Morgan Stanley plans to give rich clients access to three funds that will enable crypto ownership. The deck of exchange-traded funds tracking the token is expanding, while Paypal Inc.
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