A U.S. businessman has been arrested for operating an years-long scheme to illegally export semiconductors and sensitive technology to Russia for the use of its military and intelligence services.66 year-old Ilya Kahn, who also holds Israeli and Russian citizenships, was arrested in Los Angeles, the U.S. Department of Justice said in a statement. He allegedly used a network of businesses in China ...
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.