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New Delhi/Hong Kong CNN —An executive at Vivo, one of China’s top smartphone makers, has been arrested in India in connection with a money laundering probe, raising fears of a renewed crackdown on Chinese businesses in the country. Guangwen Kuang, the head of administration at Vivo India, was taken into custody on Tuesday by India’s Enforcement Directorate (ED), his lawyer, Mudit Jain, told CNN. The ED is the country’s main financial crimes investigation agency, responsible for probing money laundering and violations of foreign exchange laws. Despite the regulatory crackdown, Vivo is still India’s second biggest smartphone brand, commanding 17% of the market in the second quarter, according to Counterpoint Research. Authorities in India later banned Chinese apps and subjected deals with Chinese firms to greater scrutiny.
Persons: Guangwen Kuang, Mudit Jain, Kuang, , Xiaomi, Organizations: Hong Kong CNN, Vivo, Vivo India, India’s, CNN, Jain, Samsung, Research, Global Times Locations: New Delhi, Hong Kong, India, Vivo, China, China’s, Vedika
NEW ORLEANS (AP) — Plans by the Port of South Louisiana to purchase what was once a major New Orleans area shipyard for construction of military vessels have been delayed. The port announced in January its intent to purchase the old Avondale Shipyard site from the current owner, port terminal operator T. Parker Host. However, The Times-Picayune/The New Orleans Advocate reported Wednesday that the purchase has been put off after port officials faced questions last month from the state Bond Commission. Host bought the site in 2018, roughly four years after the shipyard that once employed thousands was shuttered. The proposed purchase would require more than $400 million in public financing.
Persons: Parker, Paul Matthews, Tony Ligi, Bond Commission “, John Schroder, Jay Dardenne, Matthews, hasn't Organizations: ORLEANS, Port, Avondale Shipyard, The Times, New, New Orleans Advocate, Bond Commission, Host, , Treasury, , Administration, Avondale Locations: Port of South Louisiana, New Orleans, Avondale
A man illegally brought a handgun into the Wisconsin Capitol, demanding to see Gov. Tony Evers, and returned at night with an assault rifle after posting bail, a spokesperson for the state said Thursday. The man was demanding to see the governor, who was not in the building at the time, Warrick said. The man was taken into custody for openly carrying a firearm in the Capitol, which is against the law, Warrick said. The governor's office typically does not respond to questions about security issues.
Persons: Tony Evers, Tatyana Warrick, Warrick, Dane Count Jail, Evers, Britt Cudaback, Gretchen Whitmer, Mitch McConnell, Whitmer Organizations: Wisconsin Gov, Wisconsin Capitol, Gov, Capitol, of Administration, Madison police, Democrat, Wisconsin, Michigan Gov Locations: Wisconsin, Madison, Wis, Dane
United Steelworkers union chief Tom Conway dies at 71
  + stars: | 2023-09-25 | by ( Reuters Staff | ) www.reuters.com   time to read: +2 min
(Reuters) -Thomas Conway, international president of the United Steelworkers (USW) union that represents 850,000 North American steel, paper, health, education and oil workers, has died at the age of 71, the USW said on Monday. Slideshow ( 2 images )Conway joined the union in 1978 at a Bethlehem Steel plant in northwestern Indiana and became its top negotiator and later president in 2019. “Any company that had gone up against Tom in negotiations knew they would not get away with any B.S.,” said Wright. In 2017, he told a union convention that workers must be prepared to act on their demands. But when the fights do come, we can win those fights,” Conway said.
Persons: Thomas Conway, Conway, Michael Wright, , Tom, , Wright, ” Conway, Jess Kamm Broomell, “ Tom, David McCall Organizations: Reuters, United Steelworkers, Bethlehem Steel, U.S . Air Force, , Cleveland Cliffs, U.S . Steel, Steel Locations: American, Indiana, Ohio, Pittsburgh
Green energy’s tailwinds blow the other way
  + stars: | 2023-09-22 | by ( Peter Thal Larsen | ) www.reuters.com   time to read: +7 min
Falling costs, cheap capital and supportive politicians helped propel a headlong rush into renewable power. As relations with China deteriorate, the United States and Europe are increasingly concerned about the country’s grip on parts of the green energy supply chain. In recent roundtable discussions moderated by Breakingviews on both sides of the Atlantic, participants expressed optimism about the momentum of investment in green energy. The IRA has unleashed a green energy boom. The world can ill afford to relax its embrace of green power.
Persons: Rishi Sunak, , Joe Biden’s, Jared Cohen, Goldman Sachs, Breakingviews, carmaker Ford, Rishi Sunak’s, Pennsylvania’s Penn, George Hay, Sharon Lam, Aditya Sriwatsav Organizations: Britain's, Downing, Reuters, Global, International Energy Agency, International Renewable Energy Agency, Energy, Commission, Applied Innovation, Goldman, Amperex Technology, Companies, British, MIT’s Center for Energy, Environmental, Research, University, Pennsylvania’s, Thomson Locations: London, Ukraine, U.S, China, United States, Europe, People’s Republic, Vietnam, Mexico
Sam Bankman-Fried's dad was not happy about his $200,000 salary at now-bankrupt crypto firm FTX, a lawsuit claims. In emails cited in the lawsuit, Joseph Bankman said he believed he would be paid $1 million by FTX. He then looped in Barbara Fried, his partner and Bankman-Fried's mom. Bankman and Fried enjoyed the benefits of more than $90,000 in expenses, paid for by FTX Trading, for their Bahamas residence." FTX group and Bankman-Fried's trading firm Alameda Research filed for bankruptcy in November 2022 with the founder stepping down from his role as CEO.
Persons: Sam Bankman, Joseph Bankman, Barbara Fried, FTX, Bankman, Fried, Gee, Sam, Barbara, Sean Heckler, Michael Tremonte, Joe Organizations: FTX, Service, Alameda Ltd, Stanford University, Alameda Research Locations: Wall, Silicon, FTX, Alameda, Bahamas
Barbara Fried, mother of Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, leaves the courthouse, after a U.S judge revoked Bankman-Fried's bail, New York, Aug. 11, 2023. Bankrupt crypto exchange FTX is looking to claw back luxury property and "millions of dollars in fraudulently transferred and misappropriated funds" from the parents of Sam Bankman-Fried, the exchange's disgraced ex-CEO and founder. The filing characterizes the correspondence as Bankman lobbying his son to "massively increase his own salary." Bankman-Fried himself independently faces multiple wire and securities fraud charges related to the alleged multibillion-dollar FTX fraud. Bankman and Fried "either knew — or ignored bright red flags revealing — that their son, Bankman-Fried, and other FTX Insiders were orchestrating a vast fraudulent scheme," the lawsuit said.
Persons: Barbara Fried, Sam Bankman, Allan Joseph Bankman, Fried, Sam's, Bankman, Gee, Sam, Barbara, Damian Williams, Joe, Ray Organizations: Bankruptcy, District of, FTX, Administration, Stanford University, Group, Stanford Law School, The U.S . Department of Justice, Bankman, CNBC Locations: New York, U.S, District of Delaware, Bahamas, Alameda, The, Manhattan, Bankman
WASHINGTON (AP) — The Biden administration said Thursday that Egypt's poor human rights record hasn't improved, but it won't withhold as much military aid as it did last year regardless. Egypt has been a top recipient of U.S. military aid since it signed a U.S.-brokered peace deal with Israel in 1979. Congress in recent years has attached restrictions meant to pressure Egyptian leaders to curb human rights abuses to a comparatively small portion of the more than $1 billion in annual military aid to the country. Rights groups and some congressional Democrats had urged the Biden administration to take a hard line against Egypt on human rights, while some lawmakers said strategic interests should be prioritized. U.S. officials said the decision announced Thursday did not signal that the U.S. believed Egypt had made progress on human rights.
Persons: , Biden, Abdel Fattah el, ” Amr Magdi, ” Magdi, Hisham Kassem, Sen, Chris Murphy, Sisi, Kassem, Jamal Khashoggi, , Matthew Lee Organizations: WASHINGTON, U.S, State Department, Human Rights, Connecticut Democrat, Freedom, U.S . State Department, PEN, Amnesty International, Amnesty, Saudi, Newsweek Locations: Egypt, U.S, Israel, Connecticut, Taiwan, Ukraine, PEN America, Saudi Arabia
Solar panels are seen atop a hops plantation in the Bavarian Holledau region in Au, Germany, June 19, 2023. And already, those subsidies are flowing: German conglomerate Thyssenkrupp (TKAG.DE) will invest around 3 billion euros ($3.27 billion) in a proposed green steel plant in Duisburg, Germany, including over 2 billion euros in state subsidies given EU approval in late July. But it noted the U.S. model also had uncertainty built in because a change of administration could end IRA subsidies. The complexity of EU financing through the recovery fund means it is available only to bigger companies, leaving smaller firms struggling to benefit. ($1 = 0.9184 euros)Reporting by Jan Strupczewski; editing by Mark John and Susan FentonOur Standards: The Thomson Reuters Trust Principles.
Persons: Louisa, Joe Biden's, Biden, Niclas Poitiers, Jan Strupczewski, Mark John, Susan Fenton Organizations: REUTERS, United States, Union, Biden, EU, Zero Industry, European Commission, Sovereignty Fund, Ukraine, Russian, EV, Zero, Thomson Locations: Bavarian, Au, Germany, EU, BRUSSELS, United, Europe, Ukraine, Brussels, United States, Duisburg, U.S, France, China
The latest Trump indictment is much more complicated than the first two Trump indictments and probably any indictment that would come out of Fulton County, Ga. It attacks a scheme that played out across several weeks, in several states, involving dozens of others, including Trump-allied activists, those cited as co-conspirators and G.O.P. hacks who tried to overturn the 2020 election in state after state. Donald Trump conspired with a number of other individuals to overturn an election that he knew he lost. Let’s just start with the word “knew.” You’re going to present evidence that a number of administration officials and others rendered an opinion that the election was fair and that Joe Biden won.
Persons: Donald Trump, Trump, Let’s, ” You’re, Joe Biden, We’re Organizations: Trump, Electoral Locations: Fulton County ,, Georgia
An employee adjusts bottles of Bud Light beer at an Anheuser-Busch InBev facility in Virginia, Aug. 8, 2018. Beverage giant Anheuser-Busch InBev announced it will lay off hundreds of corporate employees as sales of its flagship lager Bud Light falter. Bud Light sales have sagged following a conservative boycott over its March Madness partnership with transgender social media influencer Dylan Mulvaney. Bud Light had 7% market share during that same period, the data found. The firm also found Bud Light sales dropped 28% for the week ending June 24 when compared with the same period last year.
Persons: Bud Light, Busch, Brendan Whitworth, Bud, influencer Dylan Mulvaney, Mulvaney, Bump Williams, Ron DeSantis, DeSantis, Bud Light's, , Kevin Breuninger Organizations: Anheuser, Busch InBev, Beverage, CNBC, Busch, Constellation Brands, Modelo, Bud Light, Florida Gov, State Board of Administration, Mulvaney Locations: Virginia, U.S, Florida
A Biden administration source said such conversations with service providers about their requirements have been constant during the implementation of the caps. The price cap bans Western companies from providing services such as transportation, insurance and financing for the oil sold above the cap. Treasury uses a monthly average of prices to calculate the Urals price, which means it may be a while before the Russian oil price can be considered over the cap. 'POLICY PICKLE'The administration, however, is set to move slowly, wary of creating ripples in a market that could send rising global oil prices higher. "But there won't likely be a dramatic change unless oil prices stay high for a while."
Persons: Biden, We’ve, Joe Biden, Wally Adeyemo, Elizabeth Rosenberg, Adeyemo, Ben Cahill, Cahill, Timothy Gardner, Marguerita Choy Organizations: Group, European Union and Australia, Treasury, Foreign Assets, RUSSIA, The State Department, EU, Center for Strategic, International Studies, Thomson Locations: Washington, Ukraine, U.S, Urals, India, China, Russia, Europe, Russian, Eastern
Partnering with a young, popular trans woman could help a brand like Bud Light reach a more youthful demographic. But because Bud Light managed to alienate everyone, it hasn’t gotten the benefit of a buycott. In the week ending on July 8, Bud Light sales, by dollar, fell nearly 24% year-over-year, according to data provided by Williams. Others are more breezy, showing people enjoying Bud Light despite the inconveniences of summer (sunburn, thunderstorm). Bud Light is “coming back,” said Marcel Marcondes, AB InBev’s chief marketing officer, during the Cannes Lions International Festival of Creativity in June.
Persons: Ron DeSantis, Bud Light, influencer Dylan Mulvaney, Bud, BUD, , Mulvaney, Lamar Taylor, “ prudently, DeSantis, Taylor, Scott Olson, Bud Light’s, Dylan Mulvaney, Anheuser Bush, — Anheuser, Brendan Whitworth, , LIV, Rob Carr, buycotts, hasn’t, Bump Williams, Williams, Busch, Whitworth, ” Whitworth, Marcel Marcondes, ” Daniel Korschun, ” Korschun, Erin Reed, Elon Musk, he’s Organizations: New, New York CNN, Florida Gov, Republican, Bud Light, Anheuser, Busch InBev, State Board of Administration, AB InBev, CNN, Busch, “ Anheuser, Gallup, — Anheuser Busch’s, America, Trump National Golf Club, Modelo Especial, InBev’s, Cannes Lions International, Creativity, Drexel University, InBev, Republicans, Target, Twitter, Tesla, Disney Locations: New York, Florida, Sterling , Virginia, Central Florida
Ron DeSantis has told his government to investigate whether Bud Light's parent company breached its duties to shareholders as a conservative backlash continues to rage over the beer brand's deal with transgender social media influencer Dylan Mulvaney. Shares of AB InBev are down about 2% this year, while the broader market is up. Sales of Bud Light have plummeted in the wake of conservative uproar and a boycott over the Mulvaney partnership. The firm also found Bud Light sales are down by about 25% from last year. Mulvaney has criticized Bud Light for not standing by her during the boycott.
Persons: Ron DeSantis, Bud Light's, influencer Dylan Mulvaney, DeSantis, Lamar Taylor, Bud Light, Bump, Bud, there's, Florida's, Disney, Donald Trump's, Taylor, Mulvaney, I've Organizations: Florida, United, Israel Summit, Crystal Gateway Marriott, Florida Gov, Republican, State Board of Administration, SBA's, InBev, Constellation Brands, Especial, Anheuser, Busch InBev, CNBC, Fox, Disney, Trump, GOP, NBC Locations: Arlington , Virginia, U.S, Florida
The House is set to vote this week on legislation authorizing funding for the Federal Aviation Administration (FAA), but Republicans excluded many consumer protections sought by Democratic President Joe Biden. The White House said in a statement of administration policy that "the disclosure requirements currently in place for passenger tickets are necessary to help consumers comparison shop for a ticket." Most carriers voluntarily committed last August to provide hotels or meals but resisted providing cash compensation for delays. The White House also expressed concern in the statement about the House bill's proposal to raise the mandatory commercial pilot retirement age to 67 from 65 - a change opposed by major aviation unions. "Making this change without doing research and establishing any necessary policies would be outside the international standard," the White House said.
Persons: Joe Biden, Jan Schakowsky, Alexandria Ocasio, Cortez, Schakowsky, Biden, May, David Shepardson, Will Dunham Organizations: Monday, Republicans, Federal Aviation Administration, FAA, Democratic, Transportation Department, European Union, White, Thomson Locations: Alexandria
It was shown in May and in fuller Phase 3 clinical trial results released at the Alzheimer’s Association International Conference on Monday to delay the disease’s progression. More than 6 million Americans are estimated to have Alzheimer’s disease, with about 1 million estimated to be in the early symptomatic stages where these drugs have shown benefit. Both Leqembi and donanemab work by clearing buildups of a protein in the brain called amyloid, a hallmark of Alzheimer’s. It’s been a hypothesis that treating Alzheimer’s earlier with amyloid-clearing drugs would yield better results; Skovronsky said the donanemab trial bore that out. “We could look at people who had mild cognitive impairment, MCI, which is the earliest stage, versus mild Alzheimer’s versus moderate Alzheimer’s,” Skovronsky explained.
Persons: Leqembi, Eli Lilly’s donanemab, Lilly, “ Donanemab, Jennifer Manly, Kacie, , Dr, Gil Rabinovici, Renaud La Joie, Daniel Skovronsky, , Skovronsky, ” Skovronsky, It’s, Eric Widera, Sharon Brangman, University of Wisconsin’s Dr, Nathaniel Chin, Donanemab, Lilly hasn’t, Lawrence Honig, Honig, White, Sanjay Gupta, Deters, ” Lilly, it’s “, it’s, there’s, Joe Montminy Organizations: CNN, Alzheimer’s Association, Food and Drug Administration, American Medical Association, Columbia University Irving Medical Center, University of California, MCI, SUNY, University of Wisconsin’s, Leqembi, FDA, donanemab, CNN Health, ” Manly Locations: Los Angeles,
Gina Raimondo, as secretary of commerce, is responsible for several of the Biden administration’s biggest swings at industrial policy, so it’s little surprise that she’s on board. I’ve assembled quotes from a variety of administration officials to give a sense of the diversity of thinking on worker-centric industrial policy. I’m giving the most space to Jake Sullivan, the national security adviser, because his April 27 speech at the Brookings Institution was rightly seen as supplying intellectual scaffolding for Biden’s agenda. “Protecting our foundational technologies with a small yard and high fence.” The small yard means protecting only technologies that are truly matters of national security. He quoted Biden as saying that the two nations can and should cooperate on climate, macroeconomic stability, health security and food security.
Persons: Biden, Janet Yellen, ” She’s, Katherine Tai, Gina Raimondo, I’ve, Jake Sullivan, Sullivan, , What’s, ” Tai Organizations: Treasury, Biden, Brookings Institution, National Press Locations: U.S, United States, China,
CNN —Former New Jersey Gov. Chris Christie filed to run for president on Tuesday ahead of announcing his second bid for the White House and kicking off another clash with former President Donald Trump, the GOP frontrunner and a former Christie ally. Both would eventually drop out – Christie after he finished sixth in the New Hampshire primary – and endorse Trump. “We keep losing and losing and losing,” Christie said at the Republican Jewish Coalition’s annual leadership conference late last year. “No way.”Christie was first elected New Jersey governor in 2009, unseating Democratic incumbent Jon Corzine.
Persons: Chris Christie, Donald Trump, Christie, Chris Sununu, Mike Pence, Republicans –, Ron DeSantis, Nikki Haley, Asa Hutchinson, South Carolina Sen, Tim Scott, Pence, Doug Burgum, Joe Biden, , Barack Obama, demurred, Florida Sen, Marco Rubio, – Christie, Trump, Covid, , ” Christie, Jon Corzine, Trump’s, Jared Kushner, George Washington Organizations: CNN, Former New Jersey Gov, White, GOP, Republicans, Trump, Florida Gov, South Carolina Gov, Arkansas Gov, North Dakota Gov, PAC, Republican Jewish, Capitol, New, Democratic, FEC Locations: New Hampshire, Arkansas, South Carolina, Florida, New Jersey
But time spent waiting robs early patients of their memory and ability to live independently. This condition is often, though not always, a sign of early Alzheimer's disease. PET scans cumbersomeTwo types of tests can diagnosis Alzheimer's disease: PET scans and spinal taps. Early Alzheimer's disease can also be diagnosed with a spinal tap, in which fluid around the spinal cord is extracted with a catheter and tested. He believes big players like CVS will provide infusions for Alzheimer's disease on a major scale if they see there's a large and stable market.
WASHINGTON, April 24 (Reuters) - U.S. President Joe Biden will veto congressional efforts to overturn his policy to waive solar tariffs on four Southeast Asian nations for two years, White House officials told Reuters on Monday. In June, Biden waived tariffs on solar panels from Cambodia, Malaysia, Thailand and Vietnam in an effort to create a "bridge" while U.S. manufacturing ramped up. The White House argues that Biden's policy has worked and points to an increase in domestic solar production since Biden came into office. The United States is on track to increase domestic solar panel manufacturing capacity 8-fold by the end of 2024, another official said. Biden does not plan to issue an extension on the tariff waivers after the 2-year period has concluded because domestic manufacturing has taken off.
WASHINGTON — House Republicans on Thursday approved legislation that would bar transgender women and girls from participating in athletic programs designated for women, the latest effort in a nationwide push by conservatives to restrict transgender rights as they make culture issues a centerpiece of their political message. The bill has no chance of passing the Democratic-controlled Senate or being signed by President Biden. In a statement of administration policy, the White House said Mr. Biden would veto it if it made its way to his desk. A national ban that does not take into account competitiveness or grade level “targets people for who they are and therefore is discriminatory,” the White House said. In debating the bill, Republicans sought to present themselves as the party of common sense fighting against an extreme agenda on the left.
The higher the dose of the antibody drug, which was given by subcutaneous injection, the larger the effect, Lilly said. The Indianapolis-based drugmaker is launching a Phase III study of the experimental antibody, remternetug, but declined to comment on which doses will be selected for larger, later-stage trials. Lilly, at a medical conference in Gothenburg, Sweden, presented interim data from 41 study participants. Trial results published last year showed that, in patients with early Alzheimer's, Leqembi reduced the rate of cognitive decline by 27% compared with a placebo. Brooks said that sharing its early remternetug data "reinforces Lilly's commitment and investment in the Alzheimer's disease space ...
WASHINGTON — Sen. Mark Warner, the Democratic chairman of the Senate Intelligence Committee, chided the Biden administration Wednesday for the lack of information being shared about classified documents that were found at the homes of current and former presidents. "This is where the Biden administration gets an absolute failing grade," Warner said on MSNBC's "Andrea Mitchell Reports." Lawmakers have become increasingly critical of administration officials ignoring requests to be briefed on the classified documents that have been found. Hundreds of pages of documents with classified markings were recovered from Mar-a-Lago, former President Donald Trump's Florida home and private club. Months later, a handful of documents were found at an office used by current President Joe Biden before he was elected.
U.S. President Joe Biden speaks during the annual Friends of Ireland luncheon in honor of Ireland's Prime Minister (Taoiseach) Leo Varadkar at the U.S. Capitol in Washington, U.S., March 17, 2023. President Joe Biden on Monday issued his first veto since taking office, rejecting a bipartisan measure that would nullify a new administration rule for retirement plans. In the Senate vote, Democratic Sens. Rep. Andy Barr, R-Ky., introduced the measure in February, about two months after the Labor Department issued the investment rule. Following the Senate vote, Barr tweeted: "President Biden should abandon the radical climate activists and join us in putting middle-class savers ahead of politics."
SEOUL, March 16 (Reuters) - As South Korean President Yoon Suk Yeol landed in Tokyo on Thursday his plan to patch up relations with Japan faces lingering scepticism at home. Sixty-four percent of the respondents said South Korea did not need to rush to improve ties with Japan if there were no change in Tokyo's attitude, according to the poll. Yoon is the latest of many South Korean conservatives who embrace the argument that Seoul must heal divides with Japan to confront security challenges. Boycotts of Japanese products and vacations have largely faded in South Korea, and a growing number of South Koreans are travelling to Japan as COVID restrictions ease. Three Japanese animated films are among the top five at box office in South Korea.
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