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☆ Levi's CEO calls Asia a 'bright spot' this quarter and is optimistic about business in China
▼ + stars: | 2023-07-06 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Levi's CEO Chip Bergh told CNBC's Jim Cramer he is optimistic about the company's business in Asia, especially China, where he business is ramping up as consumers return after Covid lockdowns. "Asia is a bright spot this quarter for sure, and that is definitely helped by China," Bergh said. However, according to Bergh, the company is optimistic about its international business, especially in China. "We are seeing the post-lockdown spending spree as consumers come back, and that is definitely lifting our business and contributing to the strength that we're seeing in China," Bergh said. "So we're very optimistic about China and about Asia overall, and yeah, we're putting our chips on the table in these markets that are really growing."

Persons: Chip Bergh, CNBC's Jim Cramer, Covid, Bergh, Levi's, Wall Locations: Asia, China, Bergh

☆ 'Big Short' investor Michael Burry predicted inflation would plunge - but his calls of a stock-market crash and recession are yet to come true
▼ + stars: | 2023-07-06 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

When inflation was at its peak last summer, Michael Burry predicted it would fall within months. The "Big Short" investor was right, as price growth has slowed from 9.1% last June to 4% in May. In contrast, Burry's warnings of a historic stock-market crash and a recession are yet to pan out. The bold call from the investor of "The Big Short" fame is looking mightily prescient, but a few of his other forecasts are yet to come true. The investor highlighted some of his greatest hits in a now-deleted tweet last summer:"Just getting one thing right is hard.

Persons: Michael Burry, —, Burry, disinflation, He's, of Labor Statistics Burry Organizations: Service, Index, Twitter, of Labor Statistics, Scion

☆ Italy launches COVID inquiry panel, opposition fears witch hunt
▼ + stars: | 2023-07-06 | by ( Angelo Amante | ) www.reuters.com time to read: +2 min

ROME, July 6 (Reuters) - Italy's lower house of parliament on Thursday backed a parliamentary inquiry into the handling of the COVID-19 pandemic, with the opposition voicing fears of a witch hunt against those in charge at the time. Giuseppe Conte and former health minister Roberto Speranza," Conte himself, who now heads the opposition 5-Star Movement, told parliament. After the result was announced, the coalition lawmakers shouted in chorus "truth, truth." Italy is not the only country holding an inquiry into the pandemic management. Tommaso Foti, the lower house leader of Meloni's Brothers of Italy party, said the COVID issue caused "doubts and pain" among Italians.

Persons: coronavirus, Giuseppe Conte, Giorgia Meloni, Roberto Speranza, Conte, Speranza, Tommaso Foti, Meloni's, Angelo Amante, Keith Weir Organizations: Senate, Star Movement, World Health, Thomson Locations: Italy, COVID, Britain, Bergamo

[1/2] A Tesla logo is seen outside a showroom of the carmaker in Beijing, China May 31, 2023. REUTERS/Thomas Peter/File PhotoBEIJING/SHANGHAI, July 4 (Reuters) - U.S. automaker Tesla (TSLA.O) and its chief Chinese rival BYD (002594.SZ) achieved record deliveries of their China-made vehicles in the second-quarter, China Passenger Car Association (CPCA) data showed, as a fight for market share heats up. Tesla reported record deliveries of 466,140 globally for the second quarter. This was also the first time BYD's monthly sales surpassed 250,000 units and meant that between April to June, BYD delivered 700,244 vehicles, the data showed. In June, Beijing announced 520 billion yuan ($71.67 billion) worth of purchase tax breaks on new-energy vehicles through the end of 2027.

Persons: Thomas Peter, Tesla, BYD, Qiaoyi Li, Zhang Yan, Brenda Goh, Christopher Cushing, Himani Sarkar, Conor Humphries Organizations: REUTERS, U.S, China Passenger Car Association, EV, Thomson Locations: Beijing, China, BEIJING, SHANGHAI, Shanghai

☆ China's youth unemployment is so dire that it's inspired recent college grads to post pictures of themselves sprawled on the ground in 'zombie-style' poses
▼ + stars: | 2023-07-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China's youth unemployment rate hit a record high of 20.8% in May. On June 13, the Radii media outlet tweeted a photo collage of some of these graduating students donning black or purple graduation gowns in various poses. While this particular pose is trending this year, this graduation season's posts were often accompanied by other happier pictures of the graduating students. It also isn't the first time graduates in China have taken unusual graduation photos, according to posts seen by Insider on Xiaohongshu. These trending poses of despondence come as China's youth unemployment rate hit a record high of 20.8% in May, according to official statistics.

Persons: —, despondence, Nomura, Brenda Lu, Lu Organizations: Service, CNBC, Washington Post Locations: China

☆ How a 14-Minute Video on Posture Changed My Life
▼ + stars: | 2023-07-04 | by ( Eliza Brooke | ) www.nytimes.com time to read: +3 min

I crave this feeling, which I associate with sitting in a darkened eye doctor’s office, listening to the soft click of the phoropter. There is another avenue for finding environments that have a swaddling effect on the mind, and that is the sprawling and wildly popular world of ASMR videos on YouTube. Many ASMR videos involve role play, with a YouTuber taking on a specific identity to simulate a one-on-one prom-dress fitting or lice check. While ASMR videos can prompt that nice prickly feeling, they have the broader aim of soothing viewers, many of whom often watch them as a stress-management tool or sleep aid. I started watching ASMR videos during Covid lockdown.

Persons: ASMR, I’ve, Foley, Edward Scissorhands ” Organizations: Sensory, YouTube

☆ Trump and DeSantis, once pandemic allies, are now gaslighting each other over Covid
▼ + stars: | 2023-07-02 | by ( Steve Contorno | ) edition.cnn.com time to read: +8 min

Though steadfast allies throughout much of the pandemic, Trump and DeSantis, as presidential primary rivals, agree on very little about what transpired during one of the most trying periods in their respective tenures in leadership. Unsaid in the ad was that DeSantis had repeatedly praised Fauci early in the pandemic, calling him “really, really good and really, really helpful” and “really doing a good job.” A CNN KFile review found Trump began harshly criticizing Fauci much earlier than DeSantis. Trump has dismissed the conservative back-slapping of DeSantis’ handling of the pandemic, insisting the governor’s performance wasn’t all that great. By preemptively attacking DeSantis’ pandemic policies, Trump, too, appears aware that voters could see his top rival as stronger on the issue. The shift became an early fault line in the fracturing relationship between Trump and DeSantis.

Persons: Donald Trump, Ron DeSantis –, Trump, Anthony Fauci, DeSantis “, Fauci, ”, DeSantis, Ron, “, Andrew, Cuomo, ” Trump, ” DeSantis, shutdowns, it’s, Steve Sisolak’s, Steve Sisolak, “ You’re, OAN, they’re Organizations: CNN, Florida Gov, GOP, New, Concord, Twitter, Trump’s, National Institute of Allergy, Trump, Florida, DeSantis, Republicans, New York Democratic, Republican, Gallup, Las Vegas, Democratic, Fox News, Food and Drug Administration, “ Fox, Friends Locations: New Hampshire, Hollis, lockstep, Florida, Nevada

Sunak responded by defending his record and framing the resignation as a consequence of Goldsmith's reluctance to apologise for remarks criticising a parliamentary committee over its investigation of former prime minister Boris Johnson. In his resignation letter, Goldsmith said Britain had "visibly stepped off the world stage and withdrawn our leadership on climate and nature". When Sunak was serving as finance minister, Britain won international plaudits in 2021 for brokering a global climate pact at the COP26 summit in Glasgow. However shortly after becoming prime minister, Sunak said he would not attend the 2022 COP summit, before changing his mind when faced with criticism. On Friday, shortly after Goldsmith's resignation, the government announced a new multi-million pound fund to create and restore wildlife-rich habitats.

Persons: Goldsmith, Sunak, Johnson, Zac Goldsmith, Britain, Rishi Sunak, Boris Johnson, Goldsmith's, William James, Farouq Suleiman, Sarah Young, Philippa Fletcher, Mark Heinrich Our Organizations: Johnson LONDON, Conservative Party, State, Overseas Territories, Commonwealth, Energy, Britain, Thomson Locations: British, Glasgow

☆ Turkish food delivery startup Getir to leave Spain, union says
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

MADRID, June 30 (Reuters) - Turkish delivery startup Getir will cease its business in Spain and lay off its entire workforce there of 1,560 after failing to raise enough capital in a recent funding round, Spain's biggest trade union CCOO said on Friday. "We condemn the disastrous business management of Getir, which has not known how to grow or have a market strategy in Spain," the union said in a statement. Spain's food delivery market is dominated by Delivery Hero (DHER.DE)-owned Glovo, the Netherlands' Just Eat Takeaway (TKWY.AS) and Uber Eats (UBER.N), all three of which gained market share after Britain's Deliveroo (ROO.L) exited the country in late 2021. Getir Spain did not immediately reply to a request for comment. However, in an April deal, Getir reportedly only raised about $500 million, cutting its valuation almost in half to $6.5 billion.

Persons: CCOO, Britain's Deliveroo, Getir, Le Monde, Flink, David Latona, Sudip Kar, Gupta, Louise Heavens Organizations: Getir, Financial Times, Thomson Locations: MADRID, Spain, Netherlands, Getir Spain, France, Getir France, Istanbul, Getir, Paris

☆ Was I Married to a Stranger?
▼ + stars: | 2023-06-30 | by ( Belle Burden | ) www.nytimes.com time to read: +2 min

The people who would have propped me up, fed me, helped with the children — my family and closest friends — could not get to me during lockdown. They wept with me on the phone, but I woke up every day facing the fear and pain on my own. I decided not to drink, knowing that it would make me sadder, but I also found it hard to eat. Within weeks I had shed 20 pounds, the self I had come to know over two decades of pregnancies and family life. His brother and sister also stopped communicating, saying that to support him, they could not be in contact with me.

Persons: — Locations: New York

☆ Australian shoppers tempted by special offers in May
▼ + stars: | 2023-06-29 | by ( Wayne Cole | ) www.reuters.com time to read: +2 min

SYDNEY, June 29 (Reuters) - Australian retail spending rebounded in May as consumers were tempted by online sales events and promotional discounting, a sign of resilience in consumption that might add to the case for another rise in interest rates. Data from the Australian Bureau of Statistics (ABS) on Thursday showed nominal retail sales rose 0.7% in May from April, when they were flat, handily beating forecasts of 0.1%. The ABS noted an early start to some end of financial year sales events boosted turnover, along with Mother’s Day and a popular "Click Frenzy Mayhem" event. However, service sector inflation remained uncomfortably high and could easily be used to justify a tightening if the RBA board felt it necessary. ($1 = 1.5103 Australian dollars)Reporting by Wayne Cole; Editing by Christopher Cushing, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Ben Dorber, Stephen Wu, Wayne Cole, Christopher Cushing, Robert Birsel Organizations: SYDNEY, Australian Bureau of Statistics, ABS, Mother’s, Reserve Bank of Australia, CPI, CBA, Thomson

In some ways, China and Japan are joined at the hip. As beggar-thy-neighbor foreign exchange depreciation pressures bubble up across Asia, the attraction of a weaker exchange rate grows. In terms of bilateral trade between China and Japan, the attraction is equally clear. China is Japan's largest trading partner, Japan is China's third-largest individual nation trading partner, and bilateral trade is worth around $370 billion annually. Remarkably, the yen has depreciated 25% against the yuan over the last three years, giving corporate Japan a substantial competitive advantage over China Inc.

Persons: Steven Englander, Brad Setser, Jamie McGeever Organizations: Reuters, U.S, Asian Development Bank, Standard Chartered, Finance, Bank for International, China Inc, of Foreign Relations, Thomson Locations: ORLANDO, Florida, Japan, China, Asia, East Asia, Beijing

With economic and monetary policy outlooks varying, currency moves are increasingly out of sync with each other. More pain is also anticipated for the yuan, trading near seven-month lows, as well as smaller Asian currencies. It's continuing to weaken against some European currencies and also Latin American currencies," he said. MULTI-LAYERED CRISISKit Juckes, head of FX strategy at Societe Generale, said the focus on monetary policy differences was also a result of uncertainties elsewhere. "We've got a one-in-a-100-years pandemic and once-in-75-years war and a-once-in-25-years energy crisis all thrown into the mix together," said SocGen's Juckes.

Persons: Yen, Pound, Jordan Rochester, Nomura, Lee Hardman, Hardman, Juckes, Morgan Stanley reckons, We've, SocGen's, You’ve, Dhara Ranasinghe, Alun John, John Stonestreet Organizations: The Bank of, European Central Bank, Reuters Graphics Rochester, Societe Generale, Bank of Japan, Thomson Locations: Europe, COVID, Ukraine, The Bank of Japan, United States, Beijing, Scandinavia

☆ Millennials aren't as rich as they were a year ago. Here's why.
▼ + stars: | 2023-06-28 | by ( Jacob Zinkula | Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

The average millennial's net worth grew from $64,000 to $111,000 between the first quarter of 2020 and 2022. But just two years later, as of the first quarter of 2022, the average millennials' net worth surged to $111,000. As of the fourth quarter of last year — the most recent measure – millennials' average net worth had fallen to roughly $106,000. And what are the key factors that could impact millennials' wealth trajectory in the years to come? According to Ricketts, millennials' net worth has "plateaued" — rather than notably declined — over the past year.

Persons: —, Millennials, Matt Schulz, Schulz, Lowell Ricketts, Louis Fed, Ricketts, millennials, Gen Organizations: Service, Federal Reserve, St, Fed Locations: millennials

☆ The telehealth services we all relied on during COVID are fading away — but telemedicine may be entering a new era as providers look to bring the clinic home
▼ + stars: | 2023-06-28 | by ( Natalie Rahhal | ) www.businessinsider.com time to read: +7 min

But it's exhausted the capabilities of asynchronous care, one healthcare expert told Insider. The answer may lie in in-home monitoring technology, healthcare experts told Insider, which could be the next phase of telemedicine. Another example of a telemedicine model that uses in-home monitoring to expand access to care is the startup Bicycle Health. But there are obstacles to getting this kind of care to patients, including doctors' resistance to telemedicine and federal and state regulation. "For one-quarter century, this has been the domain of states," Kyle Zebley, senior vice president of public policy at the American Telemedicine Association, told Insider.

Persons: it's, Alana Saltz, Saltz, Ateev, Mehrotra, Danny Nieves, Kim, Nieves, telehealth, —, Kyle Zebley, Zebley, that's Organizations: Healthcare, Morning, Harvard University, Technology, Health, Bicycle Health, American Telemedicine Association, McKinsey Locations: COVID, —

☆ A U.S. recession is coming this year, HSBC warns — with Europe to follow in 2024
▼ + stars: | 2023-06-27 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Hong Kong observation wheel, and the Hong Kong and Shanghai Bank, HSBC building, Victoria harbor, Hong Kong, China. Ucg | Universal Images Group | Getty ImagesThe U.S. will enter a downturn in the fourth quarter, followed by a "year of contraction and a European recession in 2024," according to HSBC Asset Management. "The coming recession scenario will be more like the early 1990s recession, with our central scenario being a 1-2% drawdown in GDP," Little added. HSBC expects the recession in Western economies to result in a "difficult, choppy outlook for markets" for two reasons. HSBC remains overweight on Chinese stocks for this reason, and Little said the "diversification of Chinese equities shouldn't be underestimated."

Persons: Joseph Little, Little, HSBC's Little Organizations: Shanghai Bank, HSBC, Ucg, Getty, HSBC Asset Management, Global, CNBC, U.S . Federal Reserve, European Central Bank, Bank of England, Fed Locations: Hong, Hong Kong, Victoria, China, Europe, India

☆ Jan. 6 U.S. Capitol attack preceded by intelligence agency failures - Senate report
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +4 min

Since then, the U.S. government has won hundreds of convictions against the rioters, with some getting long prison sentences. Trump currently is seen as the leading candidate to win the 2024 Republican presidential nomination. Intelligence agencies on Jan. 3-4, 2021, knew of multiple postings on social media calling for armed violence and storming the Capitol. The Senate report noted that the Office of Intelligence and Analysis had been criticized then for "over-collecting intelligence on American citizens," resulting "in a 'pendulum swing' after which analysts were then hesitant to report open-source intelligence they were seeing in the lead-up to January 6th." The report concluded there is a "clear need ... for a reevaluation of the federal government’s domestic intelligence collection, analysis, and dissemination processes."

Persons: Shannon Stapleton, Joe Biden, Jan, Gary Peters, Donald Trump, Trump, Biden, George Floyd, Richard Cowan, Jonathan Oatis Organizations: Police, Trump, U.S . Congress, U.S, Capitol, REUTERS, WASHINGTON, Senate Homeland Security, Governmental Affairs Committee, FBI, Department of Homeland Security, Republicans, Republican, Democrats, Democrat, Intelligence, DHS National Operations Center, DHS, of Intelligence, Thomson Locations: Washington , U.S, U.S, Washington, Minneapolis

HONG KONG, June 27 (Reuters) - A series of brutal attacks in Hong Kong is shining a light on mental health in a city that has suffered from particularly acute strains while lacking sufficient resources to provide proper care for all who need it, mental health groups say. A city government spokesman, asked about the state of mental health, referred Reuters to a meeting the administration organised this month aimed at exploring more ways to address mental health problems and support people who suffer from severe mental disorders. Mental health experts point to the COVID-19 pandemic as a major factor in the increase in mental health issues, as it has been in many places. 'EXHAUSTION'Judy Blaine, a researcher and consultant on mental wellbeing, says it is the compounding of stresses that takes a toll on Hong Kong's people. Carol Liang, deputy CEO of the group Mind Hong Kong, said waiting times for cases deemed non-urgent can be as long as 90 weeks in the Hospital Authority system.

Persons: Abby Choi, Judy Blaine, Hong, Blaine, Carol Liang, Hong Kong, Farah Master, Anne Marie Roantree, Robert Birsel Organizations: Hong Kong Foundation, Organization, Reuters, Hospital Authority, Organisation for Economic Cooperation, Development, Thomson Locations: HONG KONG, Hong Kong, Beijing, Hong

☆ YouTube removes North Korean 'vloggers' after South Korea blocks accounts
▼ + stars: | 2023-06-27 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

The channels featured English-speaking young women, including a girl as young as 11, who claimed to offer an unfiltered look at every day life in North Korea as informal video bloggers, or "vloggers." The YouTube spokesperson said in a statement that the decision to remove the channels was taken to comply with "U.S. sanctions and trade compliance laws, including those related to North Korea." According to NK News, a Seoul-based website that tracks North Korea, the YouTubers have been linked to the Pyongyang-based Sogwang Media Corporation which seeks to expand the country’s external outreach through social media. North Korea-linked Twitter accounts, including those of so-called "friendship associations" in the United Kingdom and elsewhere, have also been blocked in South Korea due to legal demands. Some researchers have complained that removing the accounts cuts off sources of information about North Korea and its media.

Persons: Harry Potter, Hyunsu Yim, Josh Smith, Simon Cameron, Moore Organizations: YouTube, U.S, South, Korea Communications Standards, National Intelligence Service, North Korean, Google, NK News, Sogwang Media Corporation, Thomson Locations: SEOUL, North, North Korea, South Korea, Seoul, Pyongyang, United Kingdom

☆ Wagner boss Prigozhin claims he and his forces are entering Russia, vowing to 'destroy anyone' that gets in their way
▼ + stars: | 2023-06-24 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

Wagner Group founder Yevgeny Prigozhin claimed he and his troops were marching on Russia. Still, there is no confirmed video evidence that Prigozhin and his troops are heading toward the city of Rostov in columns. "There's more we don't know than we do know," Ryan told Insider. But whether or not Rostov's apparent lockdown is proof of an impending Prigozhin coup remains to be seen, Ryan said. As chaos mounts, Russian civilians and officials attempted to refocus attention on the country's ongoing war effort in Ukraine, posting Telegram messages encouraging Russian troops to remember the real "enemy" — Ukraine.

Persons: Yevgeny Prigozhin, —, Prigozhin, Russia's, aren't, Wagner, Sergey Surovikin, Prigozhin's, Mick Ryan, Ryan, overreacting, we'll Organizations: Wagner, Service, Group, Associated, Tass, Southern Military District Locations: Russia, Russian, Rostov, Ukraine

☆ It's a cruel, unpredictable summer for Airbnb and Vrbo hosts — but it also might be the new normal
▼ + stars: | 2023-06-24 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Americans are still booking short-term rentals for the summer at record rates, beating expectations. But the growing pool of Airbnb and Vrbo hosts means some hosts are seeing revenue drop up to 18%. Americans are still voraciously booking short-term rentals, despite economic uncertainty — and are even outpacing expectations. In January, analytics site AirDNA forecasted demand for short-term rentals, as measured by nights booked, would grow by 5% in 2023. "Travel brands and the service economy have outperformed expectations, and short-term rentals are no different," said Jamie Lane, chief economist at AirDNA.

Persons: —, Jen Kelman, Jamie Lane, Katie Kay Mead, Mead, it's, Kelman, Melinda Johnson, We're, Johnson, She's, she's, I'm Organizations: Service, Phoenix, AirDNA Locations: Arizona, Arrowhead , California, Tennessee, Smoky

LONDON, June 23 (Reuters) - Global trade remained in the doldrums during the second quarter as China’s post-lockdown rebound proved slower than expected and was offset by continued weakness in North America and Europe. Chartbook: Global container tradeChina’s freight movements have rebounded as the country emerged from lockdowns and the exit wave of the epidemic, though not as fast as anticipated at the start of the year. At Japan’s Narita airport, international air cargo was down 25% in the first five months of 2023 compared with a year ago. The most optimistic interpretation is that freight volumes have stabilised, after declining sharply in the second half of 2022, but there is no sign yet of a recovery outside China. Related columns:- Global freight cycle may have reached lowest point (May 25, 2023)- Global freight shows signs of bottoming out (April 27, 2023)- Global freight slump deepens at the start of 2023 (March 21, 2023)John Kemp is a Reuters market analyst.

Persons: John Kemp, Barbara Lewis Organizations: Global, of, European Union, Ministry of Transport, Traffic, Association of American Railroads, American Trucking Association, Thomson, Reuters Locations: North America, Europe, Netherlands, China, Asia, United States, Japan, United Kingdom, lockdowns, Singapore, East Asia, Los Angeles, Long Beach , Oakland, Houston, Charleston, Savannah, Virginia, Seattle, New York, U.S, Narita, Heathrow

☆ Kristin Harmel Helped Build the Village That Sustained Her
▼ + stars: | 2023-06-22 | by ( Elisabeth Egan | ) www.nytimes.com time to read: +1 min

In March 2020, Kristin Harmel was gearing up for the paperback publication of her 11th novel, “The Winemaker’s Wife.” Then the world came to a grinding halt (and many of us who aren’t married to a winemaker wished we were). “We called it our Oh Hey Rosé Zoom,” she said in an audio-only interview. “We all had a glass of wine and got on the Zoom together.”On April 15, 2020, Harmel and a handful of those novelists hosted a Facebook Live for their fans. “This community we thought was going to be a few hundred people has now grown to 170,000 members,” Harmel said. By the time I woke up the next morning, I think there were at least 2,000 comments and probably 700 or 800 emails in my inbox.”

Persons: Kristin Harmel, aren’t, ”, “, Mary Kay Andrews, Andrews, Kristy Woodson Harvey, Patti Callahan Henry, ” Harmel Organizations: Facebook

[1/5] Actors sing during a performance of To The Ocean being performed at The Greenhouse, a zero waste pop up theatre in Canary Wharf, London, Britain June 19, 2023. The Greenhouse Theatre, billed as Britain's first zero waste theatre, is staging plays in London over the summer months when long, light evenings reduce the need for electricity. Over the five years since the Gift Horse Theatre was set up as environmentally-conscious theatre, Lury senses actors and audiences have become more willing to confront the climate issue. Other industry observers say building an entire theatre from re-used materials, although exceptional, is aligned with a trend that gathered momentum in lockdown. The Theatre Green Book's co-founder architect Patrick Dillon said it has been adopted across the world and is being translated into 11 languages.

Persons: Anna Gordon LONDON, Oli Savage, Signe Lury, Green Book's, Patrick Dillon, Barbara Lewis, Sarah Mills, Ed Osmond Organizations: REUTERS, Reuters, Theatre, Research, Indigo, Thomson Locations: Canary Wharf, London, Britain

☆ Bill would give Biden new powers to prepare for the next pandemic
▼ + stars: | 2023-06-22 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN Business —The Covid-19 pandemic exposed glaring weaknesses in America’s medical supply chains, causing a frantic scramble for masks, respirators and other gear needed to fight the virus. Now, a bipartisan effort in Congress is attempting to boost medical supply chain resilience and ease the country’s reliance on less friendly nations like China for critical medical supplies – before the next disaster strikes. The bill aims to improve supply chain resilience by giving the White House the ability to diversify and expand supply networks while simultaneously eliminating unneeded trade barriers. Earlier this month, the White House hailed the end of the supply chain nightmare that had sent consumer prices surging and left some store shelves empty. The administration released a scorecard that indicated dozens of recommendations from a 2021 supply chain review have been implemented, including some related to strained medical supply chains.

Persons: Democratic Sen, Tom Carper, Republican Sen, Thom Tillis, Joe Biden, America’s “, “, ” Carper, Tillis, Carper, ” Tillis Organizations: New York CNN Business, Democratic, Republican, CNN, White House, International Trade, Global Competitiveness, National Academies of Sciences, Engineering, Medicine, Reliance, Trade Organization, GE Healthcare, House, Department of Health, Human Services, United States Trade, Trade, Force Locations: China, United States, America, Covid, Mexico, Malaysia, Shanghai

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