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☆ House GOP embroiled in escalating primary feuds with majority on line
▼ + stars: | 2024-05-05 | by ( Manu Raju | Melanie Zanona | ) edition.cnn.com time to read: +10 min

For more on House Republican primary infighting, watch “Inside Politics with Manu Raju” on Sunday at 8 a.m. Washington CNN —GOP Rep. Don Bacon has had it with the far-right of his conference. Now McCarthy allies in the House GOP Conference are considering giving a boost to Aaron Dimmock, the retired Navy officer facing off against Gaetz in the August 20 primary. And while the outcomes in most of these primary races won’t impact the GOP’s efforts to keep the majority, they will shape the makeup of the next House Republican Conference and how they pursue their agenda. Several of Gonzales' colleagues in the House are backing a GOP primary challenger in his race for reelection.

Persons: Manu Raju ”, Don Bacon, They’ve, Republicans —, Bob Good, “, Bob Good’s, ” Bacon, we’ve, Tony Gonzales, Matt Gaetz, Good —, Adam Morgan, William Timmons, Kevin McCarthy, John McGuire, McCarthy, Mike Johnson, Dan Newhouse, Donald Trump, MAGA, Scott Perry, Jerrod, Gaetz —, McCarthy —, Gaetz, Aaron Dimmock, Derrick Van Orden, tubby ”, Chip Roy, Samuel Corum, Trump, ”, Ralph Norman, Morgan, Timmons, Joe Biden, Sen, Tony Vargas, Bacon, Dan Frei —, Lee Terry, “ He’s, ” Frei, Frei, Eric Underwood, Underwood, Bacon doesn’t, ” Underwood, he’s, Frei mailer, it’s, Gonzales, Tom Williams, Sarah Chamberlain, McGuire, Good’s, Steve Bannon, I’ve, ” Johnson, that’s, undercutting, CNN’s Jeff Zeleny, Sheden Tesfaldet Organizations: Republican, Washington CNN, GOP, Republicans, Nebraska Republican, CNN, Congress, Caucus, Rep, Good, Washington, Trump, Freedom Caucus, House GOP Conference, Navy, Gaetz, ”, Wisconsin Republican, Capitol, Getty, House Republican Conference, Democratic, Nebraska Republican Party, Nebraska Republicans, “, mailer, Republican Main Street Partnership, Nebraska GOP Locations: Nebraska, Texas, Florida, South Carolina, Virginia, Scott Perry of Pennsylvania, Wisconsin, Washington, Ukraine

☆ ISS says unions and pension funds should back Norfolk Southern activist investor
▼ + stars: | 2024-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

Norfolk Southern Chief Executive Alan Shaw testifies during a Senate Commerce, Science and Transportation Committee hearing titled "Improving Rail Safety in Response to the East Palestine Derailment" in Washington, U.S., March 22, 2023. Norfolk Southern -invested unions and pension funds should back activist Ancora's full seven-director slate at the railroad's shareholder meeting later this month, two different Institutional Shareholder Services proxy advisory services said. Neuberger Berman said earlier that it would support Ancora's case for change at Norfolk Southern, while Canadian asset manager EdgePoint also reaffirmed on Thursday that it would be voting its shares with the activist. (EdgePoint was initially partnered with Ancora's campaign at Norfolk Southern but dissolved that arrangement months earlier.) Top institutional shareholders include Vanguard, BlackRock, State Street and Dodge & Cox, as well as California's pension funds, CalPERS and CalSTRS, and Colorado's public pension fund.

Persons: Alan Shaw, Ancora's, Taft, Jim Barber, Glass Lewis, Barber, investor's, Ancora, Neuberger Berman, EdgePoint Organizations: Norfolk Southern, Commerce, Science, Institutional, Hartley Advisory Services, Social Advisory Services, CNBC, UPS, ISS, Norfolk Southern's, Norfolk, Vanguard, Dodge, Cox Locations: East Palestine, Washington , U.S, Norfolk, East Palestine , Ohio, BlackRock

☆ Musk's visit to China was a much-needed win for both sides — and a snub to India
▼ + stars: | 2024-04-30 | by ( Meghan Morris | ) www.businessinsider.com time to read: +5 min

And Musk notably skipped a recent visit to India, underscoring how important China is for Tesla. AdvertisementElon Musk's two-day trip to Beijing looks like a mutually-beneficial win for Tesla and for China — and a snub for India. AdvertisementMusk needs China — but China also needs Musk, as a sign that the country is open for business with high-profile US companies. Musk's visit was going to include an announcement about Tesla entering India, Reuters reported. AdvertisementMusk's India visit would have been a win for Modi, who is seeking to boost India's status as a manufacturing hub, especially as businesses leave China.

Persons: Elon Musk, —, Elon Musk's, China —, Premier Li Qiang, That's, Tesla, Dan Ives, Ives, India Musk, Janet Yellen, Antony Blinken, Musk, crackdowns, Bain —, Narendra Modi, Musk's, Modi Organizations: Tesla, Service, India, Premier, Baidu, Reuters, EV, FSD, Financial Times, China, Communist Party, Gucci, Apple Locations: China, Beijing, India, Shanghai

☆ New York Vowed to Shut Down Illegal Weed Shops. It Just Licensed One.
▼ + stars: | 2024-04-26 | by ( Ashley Southall | ) www.nytimes.com time to read: +1 min

A year after New York legalized marijuana for recreational use, a bright-green sign shaped like the plant’s leaf signaled the arrival of a dispensary called Budega on an industrial corner in Queens. The sleek shop, where customers purchase memberships for points that can be redeemed for weed, is one of thousands of illegal dispensaries that the state vowed to shut down. Their owners would be banned from the legal cannabis market, officials said. The situation exposes lapses in the vetting process, undercutting New York officials’ assurances that those who jumped the line to cash in on cannabis would not be rewarded over those who played by the rules. He owns Budega NYC, a clothing and lifestyle brand whose name he intended to use for his own dispensary.

Persons: Budega, “, ”, Alex Norman Organizations: New Locations: York, Queens, New York

☆ China's Xiaomi is selling more EVs than expected, raising hopes it can break even sooner
▼ + stars: | 2024-04-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

The Xiaomi SU7 on display at the Mobile World Congress 2024. Arjun Kharpal | CNBCBEIJING — Chinese smartphone company Xiaomi 's new electric vehicle is selling better than expected, putting it closer to break-even despite undercutting Tesla 's Model 3 on price. For context, Tesla China sold more than 600,000 cars last year, according to the China Passenger Car Association. Li Auto had a gross margin of 23.5% in the fourth quarter last year, while Nio's gross margin was 7.5%, both up from the year-ago period. Tesla's gross margin has successively declined over the past five quarters to 17.4% in the first three months of this year.

Persons: Arjun Kharpal, undercutting Tesla, Xiaomi, Lei Jun, Li Auto, Nio, Lei Organizations: Mobile, CNBC BEIJING, Citi, China Passenger Car Association, Li, CNBC Locations: Beijing, China

☆ The US is preparing to hit back at China's glut of cheap solar panels by targeting its allies
▼ + stars: | 2024-04-24 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

The world is awash in solar panels after Chinese-owned firms flooded the market with cheap exports. Companies including Qcells, First Solar, and Swift Solar on Wednesday asked the Biden administration to slap tariffs on solar cells from four countries in Southeast Asia. The US solar companies allege that Chinese-owned firms operating in Cambodia, Malaysia, Thailand, and Vietnam are illegally undercutting the market. The petition by US solar companies — known as an anti-dumping and countervailing duty case — could lead to that. The probe will help determine whether solar panels were sold in the US at prices below the cost of production.

Persons: Biden, we've, Tim Brightbill, Wiley Rein, Joe Biden, Janet Yellen, Yellen, Premier Li Qiang Organizations: Service, Companies, Wednesday, Business, Wiley, China, Industry, Commerce Department, US Commerce Department, International Trade Commission, Premier, New York Times Locations: Southeast Asia, Cambodia, Malaysia, Thailand, Vietnam, Germany, America, Massachusetts, China

☆ Elon Musk gave Tesla investors the one thing they've been demanding — and it worked brilliantly
▼ + stars: | 2024-04-24 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Elon Musk said Tesla will get cheaper electric vehicles out sooner. AdvertisementElon Musk dangled a long-awaited prize — cheaper Tesla models — in front of investors on Tuesday. But it was enough to calm investors, and Tesla's stock rose 13% in after-hours trading. Significant challenges and a plummeting stockWhile a promise of cheaper cars relieved investors, Tesla's troubles are far from over. Tesla's stock is down 42% year-to-date.

Persons: Elon Musk, Tesla, Tesla's, —, Elon, Musk, Jay Woods Organizations: Service, Freedom Capital Markets, Reuters, EV Locations: China, Europe

☆ How the UAW’s win may change the South
▼ + stars: | 2024-04-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

Now, the United Auto Workers has dealt a serious blow to that model: winning a landslide union victory after decades of failing to unionize automakers in the South. It’s the UAW’s first win in trying to represent workers at a foreign car manufacturing plant in the South. Before Friday’s win, the highest profile union election held in the South in recent years was the attempt to organize Amazon warehouse workers in Alabama in 2022. Bill Lee in 2019 visited Volkswagen’s plant in Chattanooga to encourage workers to reject the union, and former South Carolina Gov. But the Volkswagen win, said UAW President Shawn Fain to CNN, shows that politics are not an insurmountable obstacle when it comes to organizing in the South.

Persons: Stephen Silvia, Southern, ” Silvia, – Tesla, Tesla, Henry McMaster, Kay Ivey, “, ”, Erica Smiley, Honda, Friday’s, you’ve, they’ve, Bill Lee, Nikki Haley, Biden —, Shawn Fain, “ Trump, ” Fain, “ I’m, George Walker IV, Harley Shaiken, Justice, CNN’s Chris Isidore Organizations: New, New York CNN, United Auto Workers, UAW, American University, Southern Gamble, Workers, Foreign, Volkswagen, Mercedes, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, –, South Carolina Gov, Alabama Gov, “ Unions, Justice, Union, Auto, South Detroit, Benz, Kia, P Global Market Intelligence, Republicans, Environmental Defense Fund, Southern, “, GOP, Tennessee Gov, Democratic, CNN, Tennessee, AP, Chattanooga won’t, University of California, Jobs Locations: New York, United States, Volkswagen’s, Chattanooga , Tennessee, Tennessee, South Carolina, North Carolina, Louisiana, Texas, Mercedes, Vance , Alabama, Alabama, Smyrna , Tennessee, Spartanburg , South Carolina, Lincoln , Alabama, Southern, South, Chattanooga, Georgia, Berkeley

☆ Trump’s extreme rhetoric is a mainstay of his 2024 campaign. Much of it could become a reality if he wins another term
▼ + stars: | 2024-04-13 | by ( Phil Mattingly | Andrew Seger | ) edition.cnn.com time to read: +12 min

His pledge to direct Justice Department investigations is backed by allies who view his second term as driven by a maximalist theory of a president’s authority. But it also underscores why a second Trump term would be dramatically different. Some in Washington saw them as guardrails for a White House intent on fracturing not one, but all three branches of government. Yet Trump, should he secure a second term, would enter the White House with his most powerful Republican critics on Capitol Hill almost all gone. That would be a position that isn’t backed by his second term policy plans, or his private impulses during his first term in office – or, for that matter, in the decades prior.

Persons: Donald Trump, –, guardrails Trump, Jack Smith, Trump, ” Trump, Biden, ”, Joe Biden, he’s, He’s, Liz Cheney, Hillary Clinton, Clinton, John Kerry, John Bolton, It’s, Paul Ryan, Mitch McConnell, Ryan, ” McConnell, Mike Johnson, “, aren’t, Trump’s, – “, Hugh Hewitt, ” “, Charlie Rose, Rose, Larry King, Erin Burnett Organizations: CNN, Republican, Department, Capitol, Democrats, Trump, White, GOP, Joint Chiefs, Staff, Democratic, Trump’s Justice, Bolton, Congressional Republicans, Wisconsin Republican, Louisiana Republican, Mar, White House, Justice Department, CNBC Locations: Washington, Wisconsin, Louisiana

☆ Opinion: The world rushes to court Trump
▼ + stars: | 2024-04-12 | by ( Opinion Frida Ghitis | ) edition.cnn.com time to read: +7 min

She is a weekly opinion contributor to CNN, a contributing columnist to The Washington Post and a columnist for World Politics Review. Now, they’re urgently working on two fronts: seeking to Trump-proof their foreign policy and defense, and hoping to minimize the potential negative impact of a Trump victory. Making matters more unusual – and far more unethical – Trump has effectively launched his own shadow foreign policy, actively undermining Biden’s – America’s – policy. Not only is the former president leveraging his control of the Republican Party to block US aid to Ukraine ‑ Trump is interfering in US foreign policy elsewhere. Interfering in US foreign policy is bad enough, but there’s also an unseemly financial angle.

Persons: Frida Ghitis, Fumio Kishida, David Cameron, Donald Trump, –, It’s, they’re, Putin, Trump, Jens Stoltenberg, Viktor Orban, ”, Orban, “, ’, Joe Biden’s, – Trump, Biden’s, Ukraine ‑ Trump, Richard Grenell, Grenell, Grennell, there’s, Jared Kushner, Aleksandar Vucic, ingratiate, Japan’s, Shinzo Abe, Ivanka Trump, —, Biden Organizations: CNN, Washington Post, Politics, Washington , D.C, British, Trump, Ukraine –, NATO, European, Trump Heritage Foundation, ”, EU, Europe –, Republican Party, Serbian Locations: Washington ,, Japan, United States, Mar, Europe, Russia, European Union, Ukraine, EU, ” Russia, “, East, Guatemala, Washington, Serbia, New York

☆ Mexican drug gangs ‘increasingly targeting’ Australia as meth supplies overtake rivals, police say
▼ + stars: | 2024-04-11 | by ( Chris Lau | ) edition.cnn.com time to read: +4 min

CNN —Drug cartels from North America have overtaken rivals in Southeast Asia to become Australia’s top suppliers of methamphetamine, police said, warning that Mexican gangs are “increasingly targeting” the country. Meanwhile, Southeast Asian meth fell to less than 15% of seizures of the drug, a highly addictive and potent stimulant. A wastewater detection program led by the Australian Criminal Intelligence Commission projected meth to be Australia’s second most used drug. In 2022, authorities stopped 1.8 tons of liquid meth masquerading as coconut water in Hong Kong before it reached Australia. They were bound for New Zealand, Australia and the surrounding Pacific region, police said.

Persons: Jared Taggart, Taggart, ”, Sam Gor, Terry Goldsworthy, Criminologist John Fitzgerald, Masood Karimipour Organizations: CNN —, Australian Federal Police, Police, ”, Australian Institute of Health, Welfare, Australian Criminal Intelligence, AFP, Bond University, Australian Capital Territory, University of Melbourne, Drugs, New Zealand police, Southeast, Pacific, United Nations Office Locations: North America, Southeast Asia, Australia, AFP, Mexico, United States, Canada, ” Australia, Thailand, Laos, Myanmar, Japan , New Zealand, Hong Kong, Asia, Pacific, Queensland, American, Europe, Ukraine, New Zealand

☆ EU's von der Leyen echoes Yellen's calls for tough stance on Chinese overcapacity
▼ + stars: | 2024-04-09 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

European Commission President Ursula von der Leyen speaks during a press conference, Nurphoto | Getty ImagesEuropean Commission chief Ursula von der Leyen on Tuesday said that Europe must talk tough with China on its perceived unfair trade practices, echoing calls a day earlier from U.S. Treasury Secretary Janet Yellen. Speaking ahead of German Chancellor Olaf Scholz's trip to Beijing later this week, von der Leyen said European companies should have the same market access in China as Chinese firms have in Europe, according to comments cited by Reuters. She also urged the German leader to take a hard stance with Chinese authorities about overcapacity and unfair competitive practices. Chinese overcapacity concernsChinese overcapacity has become a major point of diplomatic tension, with the U.S. and its allies contesting that excess production and subsidized goods from China are undercutting domestic businesses. It also contests that the U.S. — through initiatives such as the Inflation Reduction Act — is subsidizing its own manufacturing industry.

Persons: Ursula von der Leyen, Janet Yellen, Olaf Scholz's, von der Leyen, Yellen, CNBC's Sara Eisen, Commerce Wang Wentao Organizations: Getty, European Commission, Treasury, Reuters, Monday, CNBC, U.S, China's, Commerce Locations: Europe, China, U.S, Beijing

☆ A Chinese smartphone maker is breaking into EVs and challenging Tesla. How the stock rates now.
▼ + stars: | 2024-04-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Just as the auto industry was grappling with BYD 's rapid rise, Chinese smartphone company Xiaomi has burst into the market — undercutting Tesla and vowing to become a global player. Meanwhile, Tesla last week revealed that its deliveries fell in the first quarter from a year ago . While he still likes Tesla longer-term , he and his team will hold a client webinar on Xiaomi, Tesla and global EVs on Tuesday. Xiaomi shares nearly reached that price during last week's surge. Meanwhile, Tesla shares are down 34% year to date.

Persons: BYD, Tesla, Lei Jun, Xiaomi, Morgan Stanley, Adam Jonas, Jonas, Morgan, Andy Meng, Meng, Taylor Ogan, Lei, Ogan, BEV, Nick Lai, Gokul Hariharan, Janet Yellen, overcapacity Organizations: Apple, Hong, Snow Bull, EV, JPMorgan, Treasury Locations: Hong Kong, China, Shenzhen, U.S

☆ CIA refutes whistleblower claim pushed by Republicans leading Biden impeachment inquiry
▼ + stars: | 2024-04-05 | by ( Annie Grayer | ) edition.cnn.com time to read: +3 min

CNN —House Republicans leading the impeachment inquiry into President Joe Biden were dealt their latest blow this week when the CIA informed them that an allegation they pushed was false, the latest example of House Republicans citing questionable information to make a serious claim. But the CIA has refuted that claim in a letter obtained first by CNN that was sent to Jordan and Comer. House Republicans are pushing back on the refutation. “I’ve made a document production in conjunction with the grand jury investigation,” Morris testified in his closed-door interview with Republicans conducting the inquiry in January. Republicans have raised questions about why Morris lent the president’s son millions of dollars and have sought to connect him to their impeachment inquiry into President Biden.

Persons: Joe Biden, Hunter Biden’s, undercutting, James Comer, Jim Jordan, Hunter Biden, Comer, Congressional Affairs James A, Catella, Russell Dye, Jamie Raskin, ” Raskin, Kevin Morris, Hunter, Morris, “ I’ve, ” Morris, “, ”, Biden, Gary Shapley, CNN’s Paula Reid Organizations: CNN — House Republicans, CIA, Republican, Department of Justice, FBI, IRS, CNN, “, Congressional Affairs, Republicans, Democrat Locations: Jordan, Delaware

☆ RFK Jr. raises possibility that January 6 wasn’t a ‘true insurrection,’ suggests ‘political objectives’ are motivating prosecutions
▼ + stars: | 2024-04-05 | by ( Aaron Pellish | Marshall Cohen | ) edition.cnn.com time to read: +6 min

“That would fit a disturbing pattern of the weaponization of government agencies — the DoJ, the IRS, the SEC, the FBI, etc. In the statement, Kennedy pledged to name an independent special counsel to investigate “whether prosecutorial discretion was abused for political ends” in January 6 cases. Without the impartial rule of law, there is no true democracy or moral governance,” Kennedy said. “(Trump) overthrowing — trying to overthrow the election clearly is threat to democracy,” Kennedy said in a CNN interview on Monday. “But the question was, who is a worse threat to democracy?

Persons: Robert F, Kennedy Jr, President Trump, ”, “, Kennedy, ” Kennedy, Donald Trump, Undercutting Kennedy’s, Trump, Trump’s, —, Joe Biden’s, stokes, Matt Corridoni, Stefanie Spear, CNN’s Erin Burnett, Biden, I’m, Erin Organizations: CNN, Independent, Capitol, Trump, J6, DoJ, IRS, SEC, FBI, Justice Department, Democratic National Committee, RFK Jr

A gag order against one of Trump’s biggest foes could score political points and help him and his co-defendants in the short term. Then, McAfee appeared to suggest a gag order may be necessary. “I don’t know a reason to have a gag order right now,” Parker told CNN. The former president already faces a gag order in his criminal hush money case that’s headed to trial later this month in New York. And several other defendants in the Georgia case, including former Trump attorney Rudy Giuliani and former Georgia GOP Chairman David Shafer, have offered commentary on the case and Willis on social media.

Persons: Donald Trump, Fani Willis, Willis, juggles, Trump, Scott McAfee, ” Willis, McAfee, Nathan Wade, Wade, Wade’s, ”, I’ve, ” McAfee, Willis ’, Steve Sadow, Michael J, Moore, ” Moore, they’ve, Buddy Parker, John Eastman, hasn’t, ” Parker, “, ” Willis ’, ‘, ’ ” McAfee, Rudy Giuliani, David Shafer Organizations: CNN, Trump, McAfee, Middle, Georgia GOP, gander Locations: Georgia, Atlanta, Fulton County, Middle District, Trump, “, New York, we’re

☆ CNBC Daily Open: U.S. labor market is in 'good shape'
▼ + stars: | 2024-03-25 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Asia stocks mixedAsia markets were mixed Monday with a slew of inflation data from the region due for release this week. Wall Street ended Friday on a mixed note ahead of a shortened four-day trading week due to the Good Friday holiday. "We really believe in style diversification and feel that remaining diversified with value and growth stocks remains prudent," Benson said.

Persons: Seng, Dow, Kristalina Georgieva, Aaron Benson, Baird, Benson Organizations: CNBC, CSI, Nikkei, Nasdaq, IMF, China, International Monetary Fund, Intel, AMD, Financial Times Locations: Asia, China, Beijing

☆ CNBC Daily Open: No 'cracks' in U.S. strong jobs growth
▼ + stars: | 2024-03-25 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The blue-chip Dow slipped 0.77%, but gained just under 2% for its best week since December, nearing the 40,000 level. Overall, total deal value in the region plunged last year to its lowest since 2014 amid a fundraising slowdown. "We really believe in style diversification and feel that remaining diversified with value and growth stocks remains prudent," Benson said.

Persons: Dow, Joe Biden, Biden, Aaron Benson, Baird, Benson Organizations: CNBC, Nasdaq, Bain & Company, Biden, Saturday Locations: U.S, Japan, Asia Pacific, China

☆ Why a small China-made EV has global auto execs and politicians on edge
▼ + stars: | 2024-03-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +12 min

The rise of BYD and other Chinese automakers led Tesla CEO Elon Musk in January to warn that Chinese automakers will "demolish" global rivals without trade barriers. Caresoft, an engineering benchmarking and consulting firm, has already torn down one China-built BYD Seagull and is preparing to do another. Michael Wayland / CNBCThe consulting firm tore apart the BYD Seagull piece by piece to benchmark the small EV against vehicles from other startups and traditional automakers. Its initial study of the BYD Seagull found it to be efficiently and simplistically designed, engineered and executed, but with unexpected quality and anticipated reliability. Growing concernsBYD's rise comes at a precarious time for global auto industry dynamics.

Persons: It's, Terry Woychowski, Warren Buffett, —, BYD, Tesla, Elon Musk, Caresoft Bernstein, Nissan, Michael Wayland, Caresoft, simplistically, Woychowski, Mathew Vachaparampil, CNBC BYD, Stellantis —, Donald Trump, Zach Gibson, Jennifer Granholm, Republican Sen, Marco Rubio, Trump, –, GM Dong, Tang, Marin Gjaja, Gjaja, Ford, you've, Evelyn Cheng, Dylan Butts Organizations: Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, U.S, General Motors, Caresoft, Alliance for American Manufacturing, Overseas, Chevrolet, Nissan Leaf, Bolt, Chicago Federal Reserve, BYD, CNBC, Cox Automotive, Seagull, Tesla, Toyota Motor, Nissan Motor, Honda Motor, Hyundai, Kia, — GM, Ford, Chrysler, U.S ., Washington , D.C, Bloomberg, Republican, North American Free Trade, Republicans, Buick, SAIC, GM, GM Dong Yue Motors Co, Detroit Locations: Shanghai, LIVONIA, Mich, –, China, Europe, Latin America, Detroit, Texas, Germany, Japan, U.S, Livonia , Michigan, America, XPENG, Mexico, Thailand, Brazil, Indonesia, Hungary, Uzbekistan, ., Washington ,, United States, Marco Rubio of Florida, Yantai, Shandong Province

☆ Right-wing outlets facing 2020 election defamation lawsuits may have found a key defense overseas
▼ + stars: | 2024-03-11 | by ( Marshall Cohen | ) edition.cnn.com time to read: +6 min

CNN —An alleged bribery scheme in the Philippines has thrown a potential lifeline to Fox News and other right-wing media outlets that are battling massive defamation lawsuits from the voting technology company Smartmatic for their promotion of 2020 election lies. The overseas scandal washed ashore last year when the Justice Department charged the Philippines’ former election commissioner with money laundering. Since then, Fox News, Newsmax and OAN have seized on the allegations, attempting to obtain new documents about potential wrongdoing by Smartmatic that could boost their defense. None of the allegations levied by US prosecutors in court filings pertain to vote-flipping or alleged rigging of election results. Last year, Fox paid a historic $787 million settlement with another election technology company, Dominion Voting Systems, for its promotion of similar election lies.

Persons: CNN —, Smartmatic, Newsmax, Donald Trump, Andres Bautista, Bautista, Fox, Nicolas Maduro, —, Smartmatic “, ”, Trump, “ Smartmatic, ” OAN, Eric Davis, OAN, “, OAN –, ” Smartmatic, hasn’t Organizations: CNN, Fox News, Justice Department, Trump, OAN, Philippine, Smartmatic, Fox, Dominion Voting, Lawyers Locations: Philippines, California, Venezuela, Manila, Smartmatic, Miami, Delaware, Brazil, United Kingdom, Netherlands, Belgium, Kenya, Oman, Switzerland, Taiwan

Federal Reserve Chairman Jerome Powell stuck to his script that it is not yet time to begin cutting interest rates on Wednesday in the first of two appearances this week on Capitol Hill. The Fed has taken interest levels to their highest in decades in a battle to bring inflation down to the central bank’s 2% annual target. “The labor market remains relatively tight, but supply and demand conditions have continued to come into better balance,” Powell said. Job vacancies have declined, and nominal wage growth has been easing.”Powell and other Fed officials have repeatedly said they will judge whether to begin lowering interest rates on the state of incoming economic data. In his testimony, Powell did acknowledge that interest rates are “likely” at their peak for this economic cycle.

Persons: Jerome Powell, ” Powell, Powell, ”, Lydia Boussour, EY Organizations: Capitol, Financial Services, Labor Department, ADP, Federal Reserve Bank, Atlanta’s

☆ Republicans to grill James Biden behind closed doors in critical interview as GOP looks for lifeline in impeachment probe
▼ + stars: | 2024-02-21 | by ( Annie Grayer | ) edition.cnn.com time to read: +11 min

Hunter Biden is expected to show for his closed-door interview next week, after intense deliberations that almost collapsed. The first check Republicans revealed went to Joe Biden in 2018 for $200,000 from James Biden and James’ wife Sara Biden. What other Biden family business associates have saidBeyond Fox and Langston, Republicans have recently interviewed a number of key Biden family business associates. Walker also attended a 2017 business meeting with Hunter Biden and Chinese business associates, where Joe Biden made an appearance. Another longtime Biden family business associate, Eric Schwerin, performed administrative and bookkeeping tasks for then-Vice President Joe Biden from 2009 to 2017.

Persons: Joe Biden, Hunter, James, Wednesday, Biden, Hunter Biden, Mike Johnson, —, David Weiss, Hunter Biden’s, Alexander Smirnov, Robert Hur’s, Biden’s, James Biden, James ’, Sara Biden, ”, James Comer, Comer, Carol Fox, ‘ Biden, ’, Fox, James Biden’s, Joseph Langston, Langston, “, “ Jimmy Biden, ” Langston, Rob Walker, Walker, Biden —, ” Walker, ‘, ’ ”, Eric Schwerin, ” Schwerin, Mervyn Yan, Kevin Morris, Tony Bobulinski, Georges Bergès, White, Bergès, ” Bergès Organizations: Republicans, GOP, CNN, FBI, Burisma Holdings, undercutting, White, Democratic, Banking, Republican, Biden, Kentucky Republican, Fox, Langston, “, White House Locations: South Korea, Washington ,, China, Kentucky, Americore, Romania, American

As the war continued to rage in Ukraine’s east, much of its Western border was blocked on Tuesday by another fight, this one with Polish farmers. The farmers have for months been protesting an influx of Ukrainian products that they say is crowding the Polish market and undercutting their livelihood. On Tuesday, they obstructed check points for commercial transportation, halted the passage of about 3,000 Ukrainian trucks and opened some train cars containing Ukrainian grain, spilling it onto the rails. “It’s either us or them,” a Polish farmer said on Tuesday on the Polish TV channel Polsat News. “Someone must be interested in us.”The demonstration prompted a counterprotest in Ukraine, where previous blockades by Polish truckers have hampered the supply chain of goods reaching the country, causing shortages that have begun to affect soldiers on the battlefield.

Persons: It’s, ” Organizations: Polsat Locations: Polish, Ukraine

☆ NATO: Record 18 states expected to meet 2% defense spending threshold this year
▼ + stars: | 2024-02-14 | by ( James Frater | Joshua Berlinger | ) edition.cnn.com time to read: +2 min

CNN —Eighteen of NATO’s 31 members are expected to spend at least 2% of their GDP on defense this year, the treaty organization’s leader said on Wednesday. “That is another record number and a six-fold increase from 2014 when only three allies met their target,” NATO Secretary-General Jens Stoltenberg said Wednesday ahead of a meeting between the alliance’s defense ministers in Brussels. Former US President Donald Trump, who is running for reelection in November, brought renewed scrutiny to the issue of defense spending among NATO members last weekend, when he said at a rally he would encourage Russia to do “whatever the hell they want” to any NATO member country that doesn’t meet spending guidelines on defense – effectively undercutting the collective defense clause at the heart of the treaty. The German Defense Ministry said Wednesday that its 2024 budget will see its defense spending meet the 2% threshold for the first time since the early 1990s. NATO as a whole is expected to reach the 2% threshold for the first time this year.

Persons: Jens Stoltenberg, Donald Trump, –, Stoltenberg, ” Stoltenberg, ” Organizations: CNN, NATO, Allies, German Defense Ministry Locations: Brussels, Russia, Canada, Germany

☆ Baltic, Nordic Lawmakers Complain That US Lacks Urgency on Ukraine Aid
▼ + stars: | 2024-02-08 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +3 min

By Jonathan LandayWASHINGTON (Reuters) - Senior Nordic and Baltic lawmakers visiting Washington on Thursday expressed alarm at what they called a lack of urgency and a clear strategy by the United States to help Ukraine defeat Moscow's invasion. "Guys, wake up," Zygimantis Pavilionis, chairman of the Lithuanian parliament's foreign affairs committee, said in comments directed at Democrats and Republicans. All but Sweden are NATO members. Delegation members said they met administration officials and lawmakers, but mainly sought to speak to Republicans resisting fresh aid. "All of our countries around this table have (given) more than 1% of GDP of military aid to Ukraine.

Persons: Jonathan Landay WASHINGTON, Vladimir Putin, Pavilionis, Rihards Kols, Joe Biden, Marko Mihkelson, Kols, Jonathan Landay, Don Durfee, David Ljunggren Organizations: Nordic, Baltic, U.S, NATO, Lithuanian, Democrats, Republicans, Ukraine, Kyiv, Estonian Locations: Washington, United States, Ukraine, Moscow's, Russian, Latvia, Estonia, Lithuania, Sweden, Denmark, Iceland, Norway, U.S, Latvian, Europe, The U.S, Russia, Moscow

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