National

US Loosens Embargo on Cuba, Making Trade and Travel Easier

Published

12 years ago

January 15, 2015

In this March 22, 2013 file photo, miniature flags representing Cuba and the U.S. are displayed on the dash of an American classic car in Havana, Cuba. The Obama administration is putting a large dent in the U.S. embargo against Cuba as of Friday, significantly loosening restrictions on American trade and investment. (AP Photo/Franklin Reyes, File)

BRADLEY KLAPPER, Associated Press
MICHAEL WEISSENSTEIN, Associated Press

WASHINGTON (AP) — The Obama administration is putting a large dent in the U.S. embargo against Cuba as of Friday, significantly loosening restrictions on American trade and investment.

The new rules also open up the communist island to greater American travel and allow U.S. citizens to start bringing home small amounts of Cuban cigars after more than a half-century ban.

Thursday’s announcement of new Treasury and Commerce Department regulations are the next step in President Barack Obama’s plan to re-establish diplomatic relations with Cuba. They come three days after U.S. officials confirmed the release of 53 political prisoners Cuba had promised to free.

Only Congress can end the five-decade embargo. But the measures give permission for Americans to use credit cards in Cuba and U.S. companies to export telephone, computer and Internet technologies. Investments in some small business are permitted. General tourist travel is still prohibited, but Americans authorized to visit Cuba need no longer apply for special licenses.

Obama announced last month that he would soften the embargo and begin restoring diplomatic ties with Havana, saying “these 50 years have shown that isolation has not worked.” The deal was the product of 18 months of secret talks that culminated in the exchange of imprisoned spies and release of Alan Gross, a U.S. government contractor who had been imprisoned in Cuba for five years.

The few U.S. companies facilitating travel to Cuba say inquiries have exploded since December. American visits could triple this year, from about 90,000 annually. “We’re hiring more people, we’ve secured more hotel rooms and assets in Cuba to provide additional travel,” said Tom Popper, president of New York-based insightCuba.

With the new regulations public, the focus shifts to American businesses and the Cuban government. Some changes could take months as U.S. firms analyze the risks and benefits of moving into a complicated new market. And the Cuban government has said nothing publicly about how it will regulate new trade with the United States. Foreign companies currently deal almost entirely with state-owned firms that are notoriously slow, inefficient and short on cash.

Cuba will likely be more open to a surge in new travelers than to other potential effects of the loosened rules.

But Cuban hotels generally fall short of international standards and those with better food and service are almost always fully booked during the winter high season.

“This is good news, but we’re lacking infrastructure in hotels and in administration,” said Maikel Gonzalez, a 34-year-old hotel receptionist. “American tourists are really demanding. How do I explain to one that the taxi didn’t come because it doesn’t have tires or that there’s no water in the rooms?”

Individual Cubans can legally rent out their homes or apartments— a potential source of thousands of rooms for travelers and a flood of funding for private citizens that would be largely outside state control.

Also casting a shadow on potential deals is the possibility of litigation by Cuban-Americans and U.S. firms whose property was confiscated in Fidel Castro’s 1959 revolution and may try to sue companies entering into business with the Cuban government. In Washington, Congress may also seek to erect barriers to new investment.

The sudden rapprochement between Cold War foes has divided U.S. lawmakers. Republican Marco Rubio of Florida and Democrat Bob Menendez of New Jersey, both Cuban-Americans, have been particularly opposed.

But some pro-business types have welcomed the opportunity to open up a new export market in a country 90 miles from Florida. Thomas Donohue, the head of the U.S. Chamber of Commerce, for example, said Wednesday it was better for the U.S. to sell computers, smartphones and cars to Cuba than to cede such business to countries like Russia and China. Still, the embargo as a whole appears unlikely to fall anytime soon.

Starting Friday, U.S. companies will be able to export mobile phones, televisions, memory devices, recording devices, computers and software to a country with notoriously poor Internet and telecommunications infrastructure. Internet-based communications will fall under a general license. The new rules “immediately enable the American people to provide more resources to empower the Cuban population to become less dependent upon the state-driven economy,” White House spokesman Josh Earnest said Thursday.

With hundreds of thousands of Cuban-Americans visiting family each year, Cuba is already awash in American products brought in people’s luggage, including iPhones and flat-screen TVs. The main barriers to Internet access are high prices and restrictions imposed by a government desperate for hard currency and worried about allowing citizens unrestricted communications among themselves and with the outside world.

Americans permitted to travel to Cuba for family visits, official U.S. government business, journalism, research, education, religious activity and other reasons now fall under a U.S. general license and don’t need to apply for a separate license. A limit on remittance payments to family members in Cuba will be raised to $8,000 per year, from $2,000. Americans visiting Cuba will be allowed to bring home $100 in alcohol and tobacco products, and $400 in total goods.

The U.S. is now “one step closer to replacing out of date policies,” Treasury Secretary Jacob Lew said Thursday.

Other changes include:

—The elimination of limits on how much money Americans spend in Cuba each day or what they spend it on.

—Permissible use of U.S. credit and debit cards.

—Travel agents and airlines can fly to Cuba without a special license.

—Insurance companies can provide coverage for health, life and travel insurance policies for individuals residing in or visiting Cuba.

—Financial institutions may open accounts at Cuban banks to facilitate authorized transactions.

—Investments can be made in some small businesses and agricultural operations.

—Companies may ship building materials and equipment to private Cuban companies to renovate private buildings.

The U.S. and Cuba are scheduled to hold migration talks in Havana next week, the next step in their normalization process. Leading the American delegation is Roberta Jacobson, the top U.S. diplomat for Latin America. Her visit marks the highest-level trip to Cuba by a U.S. official since 1980.

Further down the road, Washington envisions reopening the U.S. Embassy in Havana and carrying out high-level exchanges and visits between the governments. Secretary of State John Kerry could travel to the island later this year.

___

Weissenstein reported from Havana. AP White House Correspondent Julie Pace contributed to this report.

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How the Sandwich Generation Can Help Protect Aging Parents’ Finances

One in four American adults now belongs to the “sandwich generation,” balancing the demands of raising children while supporting aging parents. Women frequently bear a disproportionate share of this responsibility, facing significant physical and financial strain. With November designated as Chase Fraud & Scam Prevention Month, caregivers are encouraged to initiate vital conversations regarding financial snapshots and long-term goals. Establishing a proactive plan and building a support system can help secure a family’s legacy while defending against common predatory tactics, and you can read more here.

Published

6 days ago

November 6, 2026

Post News Group

By Sponsored by JPMorganChase

Planning and scam prevention tips for caregivers balancing kids and parents

If you’re raising children while also supporting an older parent, you’re likely managing schedules, healthcare needs, day-to-day decisions and even finances. People in this group are often called the “sandwich generation,” which now encompasses one in four adults in the U.S.

Women also often carry a disproportionate share of this responsibility: three in five family caregivers are women. Women are more likely to report physical, emotional and financial strain from caregiving, which can make it harder to protect their own well-being and long-term financial security.

For the sandwich generation, the holidays can be a natural time to talk with parents about money, including how to protect their finances from scams. November is Chase Fraud & Scam Prevention Month – designed to help people recognize common scams, avoid in-the-moment mistakes and better protect their money and personal information.

Here are some tips to keep in mind.

Check In and Make a Plan

Finances can be incredibly personal, and many parents worry that accepting help means losing independence. Start by framing the conversation around peace of mind and organization – not control.

Check in on your finances and long-term plan, too. You’ll be better equipped to care for others when your own financial foundation is secure.

Also consider helping your parents create a “financial snapshot.” J.P. Morgan Wealth Management’s guide for supporting aging parents outlines a few considerations:

Location of key accounts: banking, investments, retirement, credit cards, insurance
How bills and recurring expenses are paid
Whether beneficiaries are up to date
Where important documents are stored and who has access

Then ask what goals matter most in the years ahead: staying in their home, supporting family, traveling, planning for healthcare or leaving a legacy. Goals can evolve, so revisit them periodically. Planning tools can help – like J.P. Morgan Wealth Plan, a free digital money coach in the Chase Mobile® app or at chase.com.

A financial advisor can help create a plan tailored to you and your parents’ needs. An estate planning attorney can document your parents’ wishes, including who may act if they cannot make decisions themselves.

Understand Common Scams

Scammers often use urgency, fear, secrecy or affection to pressure people into acting quickly. Recognizing these tactics can help you and your family spot red flags sooner. Common scams include:

Investment scams: Promises of high or “guaranteed” returns with little risk.
Tech support scams: Requests for payment or remote device access.
Impersonation scams: Messages impersonating trusted organizations or loved ones, asking for money, passwords, account details or other personal information.
Romance scams: Online relationships that lead to requests for money.

Chase hosts more than 1,000 free fraud and scam prevention workshops annually, including hundreds across all lower 48 states throughout November.

Stay Proactive and Vigilant

If you or a loved one suspects a scam, slow down and stop communicating with the individual immediately. Contact your bank through a trusted channel to review recent transactions and report the incident to appropriate authorities.

Also consider a few simple steps for protection:

“Trusted Contact Person”: Designate a trusted adult who may be notified about certain online wire activity.
Tech tips: Use unique passwords, multifactor authentication and account alerts, keep devices updated and monitor accounts regularly for unusual activity.
Behavior changes: Watch for secrecy around finances, unusual transactions, unexpected changes to financial documents or pressure from new acquaintances.

You’re Not Alone

Caregiving is demanding, and it shouldn’t be a solo effort. Build a support system – which can include family, friends and professionals such as healthcare providers, attorneys and financial advisors. A thoughtful conversation now can help your parents stay organized and protected in the future.

For free educational resources on planning for yourself and loved ones, visit chase.com/theknow

For more information and practical tips about fraud and scam prevention, visit chase.com/security

The views, opinions, estimates and strategies expressed herein constitutes the author’s judgment based on current market conditions and are subject to change without notice and may differ from those expressed by other areas of J.P. Morgan.

This information in no way constitutes J.P. Morgan Research and should not be treated as such. You should carefully consider your needs and objectives before making any decisions. For additional guidance on how this information should be applied to your situation, you should consult your advisor.

JPMorgan Chase & Co., its affiliates, and employees do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transaction.

J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC.

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Education

As Progressive Democrats Celebrate ‘Blue Tsunami,’ Oakland Counts Victories

As national Democrats celebrate a significant shift in the midterm elections, local leaders in Oakland are tracking early results from the Alameda County Registrar of Voters. While Mayor Barbara Lee and several City Council incumbents have secured decisive victories, attention remains fixed on high-stakes school board contests. Progressive candidates currently face strong challenges from opponents backed by corporate funding and local political organizations. With many ballots still uncounted, the final composition of the board and several regional transit measures remain in the balance. Read more.

Published

6 days ago

November 6, 2026

Post News Group

By Ken Epstein

Concerns remain over school board races as ‘moderates’ lead progressives

The Alameda County Registrar of Voters has released the first round of election results, though many ballots remain uncounted and results are still incomplete.

Nationally, Democrats, liberals and progressives celebrated Tuesday evening as President Donald Trump was dealt a devastating blow in the midterm election. The Republican Party lost control of the Senate and the House as “Maga” candidates were swept away not just by a ‘blue wave,’ but a ‘blue tsunami.’

In Oakland, incumbent Mayor Barbara Lee, who served two years and ran for a full four-year term, won decisively.

A proposal backed by Lee, Measure EE, also won. The Charter amendment will create a strong mayor system of government while providing the City Council with new checks and balances on mayoral power.

District 2 Councilmember Charlene Wang is leading with 65.62% of the vote. Opponent Nate Adams trails with 34.38%.

District 4 Councilmember Janani Ramachandran, ran unopposed for reelection, receiving 14,029 votes.

District 6 Councilmember Kevin Jenkins bested opponent Nancy Sidebotham and District 2’s Charlene Wang also won reelection.

City Auditor Michael Houston is running unopposed for reelection and won 60,773 votes.

Progressive school board members, Jennifer Brouhard (D2) and Valarie Bachelor (D6), supported by teachers and school activists, face serious challenges from candidates backed by pro-corporate funders and the political organization, Empower Oakland.

Arielle Fleisher leads Brouhard 53.49% to 46.51%.

In District 6 with three contending candidates, Alexandra Williams leads with 38.06% of the vote. Incumbent Bachelor has 36.89%, and Leana Powell is trailing with 25.04%.

In District 4, incumbent Mike Hutchinson is narrowly leading a field of three candidates. He received 40.87% of the vote, while Kathryn Camp has 39.92%, and Sylvia Pfeiffer Williams has 19.21%.

In the races for AC Transit Board, Director Joel Young (Ward 3) leads with 53.11% of the vote, Sarah Syed (Ward 4) is ahead with 78.37% of the vote, and Murphy McCalley (Ward 5) leads with 63.07%.

Regional Transit Measure RTM, which would increase sales taxes in five Bay Area counties to shore up BART and other regional transit, was leading in five counties by a combined 62% of the vote.

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Community

Golden State Valkyries Become Bay Area Legends Winning WNBA Championship on Halloween Night

In only their second year as a franchise, the Golden State Valkyries captured the 2026 WNBA Championship with a 68-63 victory over the Atlanta Dream. Playing before a sold-out crowd at Chase Center on Halloween night, Gabby Williams delivered a historic 30-point performance to earn Finals MVP honors. The victory marks a rapid rise for the expansion team, which has already set league attendance records and surpassed a $1 billion valuation. Fans gathered by the hundreds of thousands this week to celebrate the new Bay Area legends, read more.

Published

6 days ago

November 6, 2026

Post News Group

“We’re so proud,” said Mayor Barbara Lee who donned a violet wig on Wednesday at a rally honoring the Golden State Valkyries as the team celebrated its historic 2026 WNBA Championship in Oakland. Photo courtesy of NBC.

By Dr. Y’Anad Burrell Special to The Post

In only their second year as a franchise, the Golden State Valkyries became the WBNA 2026 Champions, with Gabby Williams named WNBA Finals MVP. A Halloween night movie of magic and there was no surprise that the game was sold out, with more than 18,000 fans inside Chase Center while thousands more packed the open space at Thrive Center from hours preceding the game through the final buzzer.

In the decisive Game 7, Williams delivered a legendary performance, scoring 30 points to lead the Golden State Valkyries to a 68-63 championship victory over the Atlanta Dream. Remarkably, 28 of her 30 points came in the second half, setting a WNBA postseason record for points in a half and earning her Finals MVP honors.

The team celebrated its victory on Wednesday with a rally in Oakland followed by a ferry ride to San Francisco’s Embarcadero and then a two-mile parade that drew about 400,000 fans.

Williams has become a symbol of the Bay Area’s impact on the team. Although born in Nevada, Williams has deep family roots in Oakland and has often said the city’s culture, community, and basketball traditions shaped her identity and playing style.

After signing with the Valkyries, she began calling the city home and noting that “there’s no Golden State without Oakland.”

The Valkyries have several ballers who made an impact on winning this series, including Veronica Burton, Tiffany ‘Tip’ Hayes, Kayla Thornton, Kaila Charles, and Cecilia Zandalasini.

Veteran center Kiah Stokes brought championship experience and defensive leadership when she signed a multi-year free-agent contract with the franchise on April 13. A former first-round draft pick out of UConn and a three-time WNBA champion with the Las Vegas Aces before joining Golden State, Stokes was recruited by head coach Natalie Nakae, with whom she had previously worked in Las Vegas.

Known as one of the league’s premier rim protectors and rebounders, Stokes quickly became a defensive anchor for the expansion franchise and played a major role in leading the Valkyries to their historic championship run.

The Valkyries have accomplished something extraordinary, proving that a new franchise can make an immediate impact both on and off the court. In their first year, the Valkyries became the first WNBA expansion team to reach the playoffs in its inaugural season and set all-time league attendance records. The franchise sold out all home games, reporting 18,064 attendees per game in both seasons — the highest attendance figures in WNBA history. The Valkyries’ success has also translated into extraordinary franchise value. After entering the league by paying a $50 million expansion fee, the organization generated record revenues and rapidly became one of the most valuable franchises in women’s sports, valued at over $! billion.

The WNBA Finals’ deciding game averaged 3.3 million viewers, making it the most-watched WNBA playoff game in league history and the most-watched finals game since 1999.

The record audience reflects the league’s growing popularity and has major implications for its future, including higher media rights value, increased advertising revenue, stronger sponsorship opportunities, rising merchandise sales, and greater ticket demand.

The Finals also featured sold-out arenas and record postseason viewership, demonstrating that the WNBA is expanding its commercial reach, attracting new fans, and strengthening its position as a major professional sports league.