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WASHINGTON (Reuters) -Ford Motor Co said Thursday it could face up to $1.3 billion in penalties in a long-running dispute over import duties paid on Ford Transit Connect vehicles.
The No. 2 U.S. automaker said after the Supreme Court declined to hear its appeal in 2020 that it paid increased duties for some prior imports, plus interest. U.S Customs and Border Protection (CBP) is now seeking additional duties of $181 million and is considering seeking a monetary penalty of as much as $652 million to $1.3 billion, Ford said. The automaker added that it would vigorously defend its actions and noted any penalty would be based on our level of culpability as determined by the courts.
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NEW YORK (Reuters) - Foreign net flows to emerging market equity and debt portfolios slowed in March to their weakest in almost a year as rising U.S. yields continue to weigh on EM, with flows excluding China barely making a blip last month, data from the Institute of International Finance showed on Monday.
The net estimated $10.1 billion in flows in March was the lowest monthly figure since April 2020 and compares with a downwardly revised $23.4 billion net inflows in February.
China took in nearly 90% of net flows last month with $3.8 billion going to equities and $5 billion to Chinese debt instruments. Excluding China, EM equities funneled $0.2 billion while $1.2 billion flowed to non-Chinese debt.