Cantor Fitzgerald CEO and Commerce Secretary nominee Howard Lutnick became visibly emotional at his confirmation hearing Wednesday as he recalled the more than 650 employees — including his

Howard Lutnick, chairman and CEO of investment firms Cantor Fitzgerald and BGC Group, told the U.S. Senate Committee on Commerce, Science and Transportation that he would divest “all of my interests, my business interests, all of my assets, everything.”

The resolution of the shareholder complaint comes days ahead of Lutnick’s confirmation hearing for Commerce Secretary.

Howard Lutnick, President Donald Trump’s pick to run the Commerce Department, said in his Senate hearing that he plans to sell all his business stakes if confirmed and for the first time acknowledged a bond his firm has with a controversial cryptocurrency client.

Cantor Fitzgerald has a convertible bond with Tether, incoming Commerce Secretary Howard Lutnick said at his confirmation hearing, confirming previous reporting by The Wall Street Journal that

Howard Lutnick, President Donald Trump's nominee for Commerce Secretary and CEO of Cantor Fitzgerald, says the firm has no equity in Tether, a controversial crypto firm. But he does say Cantor owns a convertible bond with Tether.

Howard Lutnick, CEO of Wall Street brokerage firm Cantor Fitzgerald, did not address policy specifics in his written testimony for the Senate Commerce Committee seen by Reuters. As commerce secretary, Lutnick is to have "additional direct responsibility" for the U.S. Trade Representative's office.

Howard Lutnick, President Trump's pick to run the Department of Commerce, is probed by the senator on the Tether connection of his firm, Cantor Fitzgerald.

Democrats are looking to exploit the Commerce secretary nominee’s vast wealth and financial entanglements at his confirmation hearing Wednesday.

India and China – have the most tariffs but no inflation, an American businessman nominated by US President Donald Trump to be his commerce secretary told lawmakers on Thursday, making a point that there is no relationship between tariffs and inflation.

Floor signage for the offices of DeepSeek (C) is seen in Beijing on January 28, 2025. Fears of upheaval in the AI gold rush rocked Wall Street, following the emergence of a popular ChatGPT-like model from China, with US President Donald Trump saying it was a “wake-up call” for Silicon Valley. (Photo by PETER CATTERALL / AFP)