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☆ Recession-shy investors can turn to capital cycle
▼ + stars: | 2022-11-10 | by ( Edward Chancellor | ) www.reuters.com time to read: +7 min

But another factor is the capital cycle: the amount of investment entering or exiting an industry. Capital spending by energy firms and miners has declined since the investment boom peaked in the middle of the last decade. Capital spending by large European oil companies has fallen from more than twice depreciation in the mid-2010s to less than one times, according to Bernstein. A similar picture emerges in the mining industry, whose capital spending boom also ended around eight years ago. Freeport-McMoRan (FCX.N), one of the world’s largest copper producers, cut capital spending from $7.2 billion in 2014 to $2.1 billion last year.

☆ EXCLUSIVE Nvidia offers new advanced chip for China that meets U.S. export controls
▼ + stars: | 2022-11-08 | by ( Jane Lanhee Lee | ) www.reuters.com time to read: +3 min

OAKLAND, Calif., Nov 7 (Reuters) - U.S. chip maker Nvidia Corp (NVDA.O) said on Monday it is offering a new advanced chip in China that meets recent export control rules aimed at keeping cutting-edge technology out of China's hands. In late August, Nvidia and Advanced Micro Devices Inc AMD.O both said that their advanced chips, including Nvidia's data center chip A100, were added to the export control list by the Commerce Department. The Nvidia A800 can be used in place of the A100, and both are GPUs, or graphics processing units. "The Nvidia A800 GPU, which went into production in Q3, is another alternative product to the Nvidia A100 GPU for customers in China. At least two Chinese websites by major server makers offer the A800 chip in their products.

☆ Exclusive: Nvidia offers new advanced chip for China that meets U.S. export controls
▼ + stars: | 2022-11-08 | by ( Jane Lanhee Lee | ) www.reuters.com time to read: +3 min

OAKLAND, Calif., Nov 7 (Reuters) - U.S. chip maker Nvidia Corp (NVDA.O) is offering a new advanced chip in China that meets recent export control rules aimed at keeping cutting-edge technology out of China's hands, the company confirmed on Monday. In late August, Nvidia and Advanced Micro Devices Inc AMD.O both said that their advanced chips, including Nvidia's data center chip A100, were added to the export control list by the U.S. Commerce Department. The Nvidia A800 can be used in place of the A100 and both are GPUs, or graphics processing units. "The Nvidia A800 GPU, which went into production in Q3, is another alternative product to the Nvidia A100 GPU for customers in China. At least two Chinese websites by major server makers offer the A800 chip in their products.

Dozens of federal grand jury subpoenas have been issued in the past several months as part of the federal criminal investigation involving several people in New Jersey and the powerful Democratic chairman of the Senate Foreign Relations Committee, Bob Menendez, three people familiar with the matter told NBC News. Two people familiar with the matter said one of the entities involved in the investigation is IS EG Halal of Edgewater, New Jersey. According to a filing by Lustberg, federal agents seized cellphones, computers, tablets, USB drives, business documents, notepads, a photo album, $5,943 dollars in cash, jewelry and Hana’s passport. The court filings do not specify why federal investigators conducted the search, and NBC News could not confirm whether it was tied to the current investigation involving Menendez. Federal prosecutors decided in 2018 not to retry him.

NBC News, in collaboration with the International Consortium of Investigative Journalists, The Washington Post, and Arab Reporters for Investigative Journalism, interviewed more than 40 current and former employees of contractors at military bases. According to an NBC News analysis, at least 10 companies with substantiated trafficking violations since 2007 have received billions in new government contracts. ‘Mad scramble’Foreign workers are crucial for the more than 700 military bases with U.S. service members around the world. One company that continues to get work at Middle East bases despite past violations documented in an Army compliance agreement is Tamimi, Abdulla’s employer. Lusambu Karim, a 50-year-old Ugandan, told NBC News about trafficking violations he said he encountered working for Aegis in Afghanistan from 2018 to 2020.

☆ ‘Chinese chorizo’ honors fusion of two cultures in Arizona
▼ + stars: | 2022-10-21 | by ( Associated Press | ) www.nbcnews.com time to read: +7 min

It’s a history that older Tucson Chinese residents say they have spent years trying to make more visible. To promote the endeavor, she organized the inaugural Tucson Chinese Chorizo Festival. The 15,000-square-foot Tucson Chinese Cultural Center is a bustling hub that’s part community center and part museum, and serves at least 5,000. On the walls are display boards with mini-profiles of long-gone Chinese grocery stores. The center also has a YouTube channel that includes a 2014 video on Chinese chorizo.

☆ Truss’s exit highlights America’s free pass
▼ + stars: | 2022-10-21 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

While British Prime Minister Liz Truss’s tax proposals cut her time in office short, U.S. fiscal policy for years hasn’t been that much different. If it weren’t for the greenback’s status as the world’s reserve currency, the laws of economics would apply to America, too. Her ideological mentors in America have long argued that such tax cuts pay for themselves, and they are nothing new stateside. Still at least by some measures, the United States looks worse than Truss’s country. While Truss’s policy experiment wasn’t given any rope, the United States seems to know no failure.

☆ U.S. approves LNG shipping waiver for Puerto Rico after hurricane
▼ + stars: | 2022-10-17 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Shipping Corp FollowWASHINGTON, Oct 16 (Reuters) - The Biden administration late on Sunday approved a waiver of U.S. shipping rules to address Puerto Rico's urgent need for liquefied natural gas (LNG) after Hurricane Fiona. In late September, the DHS approved a Jones Act waiver to ensure Puerto Rico had "sufficient diesel to run generators needed for electricity and the functioning of critical facilities." Last month, Puerto Rico Governor Pedro Pierluisi asked the White House for a waiver to increase the availability of fuel after the storm. A group of eight House lawmakers had asked Homeland Security Secretary Alejandro Mayorkas for "a one-year waiver from the Jones Act for Puerto Rico" which faces "an unprecedented uphill battle to rebuild its homes, businesses, and communities." All other waivers, DHS said, "must be reviewed on a case-by-case basis."

☆ Six Takeaways From WSJ’s Investigation Into the Stock Trades of Government Officials
▼ + stars: | 2022-10-11 | by ( Michael Siconolfi | ) www.wsj.com time to read: 1 min

A Wall Street Journal investigation revealed that thousands of officials across the U.S. government’s executive branch disclosed owning or trading stocks that stood to rise or fall with decisions their agencies made. Across 50 federal agencies ranging from the Commerce Department to the Treasury Department, more than 2,600 officials reported stock investments in companies while those companies were lobbying their agencies for favorable policies, during both Republican and Democratic administrations. When the financial holdings caused a conflict, the agencies sometimes simply waived the rules.

The British pound plunged to a record low against the U.S. dollar Monday. The pound, historically one of the strongest currencies in the world, fell to as low as $1.04 before bouncing back to approximately $1.07. For most of the past few decades, the pound averaged a price of about $1.50 against the dollar. The decline in the British pound in itself won't have a direct impact on the U.S. economy, experts say. But as the value of the pound has dropped, the value of the U.S. dollar has reached all-time highs.

☆ Stock Futures Slip as Growth Worries Linger; Pound Slumps
▼ + stars: | 2022-09-26 | by ( Joe Wallace | ) www.wsj.com time to read: 1 min

U.S. stock futures fell as investors fretted about the world economy, while the U.K. government’s tax-cutting plans sent the British currency and bond markets into disarray. Futures for the S&P 500, the Dow Jones Industrial Average and Nasdaq-100 dropped between 0.4% and 0.7% Monday, suggesting investors were continuing to back away from a market that fell sharply last week. On Friday, the S&P 500 lost 1.7% on concerns that rising interest rates will push the global economy into recession.

And other up-and-coming ‘machine-health tech’ firms are offering similar wares. ‘Predictive-Maintenance’ Tech Is Taking Off as Manufacturers Seek More EfficiencyWalgreens Boots Alliance Inc. said Thursday it would appoint Hsiao Wang as its new chief information officer, as tech leader Francesco Tinto departs. Warehouse robots offer a stopgap to the labor crunch despite technology limitations, chief information officers say. American Airlines Names New Tech Chief Ganesh Jayaram, currently CIO of Deere & Co., is joining the airline as its chief digital and information officer. XPO Logistics CIO Readies for Shift to Chief Executive Role Tech-savvy CEOs look at every opportunity as having tech as part of the answer, says Mario Harik.

Evan Edwards told the officers they were headed to a conference in Texas, but he could not provide any specifics, according to the complaint. The scam and its unraveling stunned their neighbors as well as members of Evan Edwards’ extended family. “We knew we wanted to preach the gospel where it was not preached,” Evan Edwards said in a 2008 radio interview. Joy Edwards, Evan and Mary Jane Edwards, and Josh Edwards. The family moved back to Canada about 10 years ago, and Evan Edwards continued to preach, his cousin said.

☆ Water's edge: the crisis of rising sea levels
▼ + stars: | 2014-09-04 | by ( Reuters Graphic | ) www.reuters.com time to read: +20 min

But sea levels have been rising for 100 years in Baltimore.”ROCKET SCIENCEThe irony is evident at Wallops Flight Facility. Yet this bastion of climate research has been slow to apply the science of sea level rise to its own operations. Reviewers from state and federal agencies criticized the 348-page document for failing to adequately take rising sea levels into account in the project design and impact, or to temper future plans for expansion. Joshua Bundick, Wallops’s environmental planning manager, explained that he distilled the issues “down to only the highest points,” and sea level rise wasn’t among them. The cost to American taxpayers of repeated destruction of the parking lot and causeway from rising sea levels would only increase, Fish and Wildlife officials said.

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