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“It’s kind of like the old saying, when everything’s a priority, nothing’s a priority,” said Jason Johnson, who was a deputy police chief in Baltimore overseeing compliance with the city’s consent decree. Even so, believers point out that consent decrees may be far cheaper than unconstitutional policing. “What we’re talking about is broad institutional reform,” said David Douglass, the deputy monitor of the New Orleans consent decree and founder of a nonprofit group called Effective Law Enforcement for All, which helps communities develop voluntary reforms. In Baltimore, Michael Harrison, who was brought in as commissioner because of his success in implementing New Orleans’s police overhaul, just resigned, but the consent decree remains. Experience running a department with a consent decree has become a plum line on a chief’s résumé.
Persons: , Jason Johnson, Mr, Johnson, Floyd, David Douglass, Michael Harrison, Brian O’Hara Organizations: Justice Department Locations: Baltimore, Louisville, Minneapolis, Orleans, New, Newark
Bank of America chief investment strategist Michael Hartnett has joined his colleagues in admitting he was too pessimistic in his outlook for stocks this year. In his weekly note to clients examining the flow of money through the market, Hartnett took a jab at himself, labeling his outlook the product of "A Bear of Very Little Brain." Further, he outlined several reasons why "bears like us have been wrong" in the first half of 2023. On the economy, "nominal GDP remained super-charged by fiscal stimulus/war, labor" while the labor market was "impervious to monetary policy in post-pandemic world," Hartnett wrote. These include deflation, emerging market stocks and "hard-landing plays" such as REITs and commercial real estate, banks, small-cap stocks, oil and China.
Persons: Michael Hartnett, Hartnett, BofA, Savita Subramanian Organizations: of America, Silicon Valley Bank, Fed & US, Federal Reserve, Treasury, Labor Locations: Silicon, China
MLB roundup: Down to last strike, Giants stun Cards
  + stars: | 2023-06-15 | by ( ) www.reuters.com   time to read: +12 min
Ronald Acuna Jr. supplied three hits, including a homer, and drove in three runs for the Braves. Spencer Strider (7-2) gave up five runs, including three homers, in five innings but still collected the win. Orlando Arcia had two hits and drove in two runs for Atlanta, which has won nine of its last 11. Detroit starter Michael Lorenzen (2-4) gave up all six Braves runs and nine hits in six innings. Astros 5, Nationals 4Jose Abreu recorded two extra-base hits and three RBIs and scored with two outs in the ninth inning as host Houston edged Washington.
Persons: Mike Yastrzemski, Jeff Curry, Thairo Estrada, Wilmer Flores, LaMonte Wade Jr, Francisco, Jakob Junis, Taylor Rogers, Ryan Walker, Tyler Rogers, Camilo Doval, Tommy Edman, Steven Matz, Brandon Nimmo, Isiah Kiner, Dominic Leone, Josh Donaldson, Mark Vientos, Albert Abreu, Nick Ramirez, Nimmo, Michael Harris II, Ronald Acuna Jr, Orlando Arcia, Spencer Strider, Miguel Cabrera, Eric Haase, Spencer Torkelson, Reese Olson, Ozzie Albies, Eddie Rosario, Collin McHugh, Joe Jimenez, A.J, Minter, Jake Rogers, Andy Ibanez, Matt Vierling, Michael Lorenzen, Mike Tauchman, Dansby Swanson, Osvaldo Bido, Roansy Contreras, Contreras, Drew Smyly, Carlos Correa, Bailey Ober, Brian Anderson, Luis Urias, Ober, Colin Rea, Jose Berrios, George Springer, Berrios, Adley Rutschman, Kyle Bradish, Toronto's Jordan Romano, Ryan O'Hearn, Austin Hays, Aaron Hicks, Adam Frazier, Jose Abreu, Hunter Harvey, Jake Meyers, C.J . Abrams, Kyle Tucker, Keibert Ruiz, Meyers, Abreu, Marcus Semien, Corey Seager, Jimmy Herget, Seager, Shohei Ohtani, Will Smith, Smith, Mike Trout, Anthony Rendon, Matt McLain, Stuart Fairchild, McLain, Jonathan India, Spencer Steer, Edward Olivares, Bobby Witt Jr, Jake Burger, Clint Frazier, Luis Robert Jr, Burger, Alex Vesia, plunked Andrew Benintendi, Frazier, Reynaldo Lopez, Mike Clevinger, Eury Perez, Jorge Soler, Jesus Sanchez, Perez, Eugenio Suarez, Sanchez, Soler, Seattle's Luis Castillo, Pete Alonso, Rob Refsnyder's, Jarren Duran, Connor Wong, Justin Turner, Alex Verdugo, Turner, Garrett Whitlock, Austin Gomber, Michael Wacha, Fernando Tatis Jr, Manny Machado, Juan Soto, Nelson Cruz, Tatis, Aaron Civale, Realmuto, Craig Kimbrel, Jose Alvarado, Arizona's Scott McGough, Kyle Schwarber, Trea Turner, Gerardo Perdomo, Jake McCarthy, Nick Castellanos, Manuel Margot, Yandy Diaz, JJ Bleday, Tyler Glasnow, Luis Medina Organizations: San Francisco Giants, St, Louis Cardinals, Busch, USA, Giants, Cardinals, Mets, Yankees, New York Mets, New York Yankees, The Mets, Braves, Tigers, Atlanta, Detroit, Cubs, Pirates, Pittsburgh, Chicago, Brewers, Milwaukee, The Twins, Twins, Blue Jays, Orioles, Toronto, Baltimore, Astros, Nationals, Houston, Washington, Rangers, Angels, Los Angeles, The Rangers, Reds, Royals, Cincinnati, Kansas City, White Sox, Dodgers, Marlins, Mariners, Miami, Seattle, Los Angeles Angels, Red Sox, Rockies, Boston, Colorado, The Red Sox, Austin, Padres, San Diego, Cleveland, Phillies, Diamondbacks, Philadelphia, Arizona, Rays, Tampa Bay, Oakland, Athletics, Thomson Locations: Louis , Missouri, USA, Minnesota, Minneapolis, Milwaukee, Washington, Texas, Los, Arlington , Texas, Los Angeles, Phoenix
MLB roundup: Reds down Dodgers in thrilling fashion once again
  + stars: | 2023-06-08 | by ( ) www.reuters.com   time to read: +9 min
The Twins wasted a strong start by Pablo Lopez, who allowed just one run on five hits over seven innings. Oakland starter Hogan Harris (1-0), making his first major league start, allowed three runs in five innings. Kutter Crawford (1-3) gave up three runs (two earned) on five hits with three strikeouts over three-plus innings. San Francisco starter Logan Webb Webb gave up four runs on eight hits in 5 1/3 innings. Colorado starter Connor Seabold allowed two runs on two hits, walked two and struck out four in six-plus innings.
Persons: Will Benson, Katie Stratman, TJ Hopkins, Benson, Evan Phillips, Alexis Diaz, Phillips, Mookie Betts, Elly De La Cruz, Randy Arozarena, Jhoan Duran, Isaac Paredes, Pablo Lopez, Alec Burleson, Louis, Jon Gray, Jack Flaherty, Jordan Hicks, Giovanny Gallegos, Ryan Helsley, Ryan Noda, Jace Peterson, Brent Rooker, Jonah Bride, JJ Bleday, Hogan Harris, Rodolfo Castro, Roansy Contreras, Juan Soto, Gary Sanchez, Soto, Sanchez, Michael Wacha, George Kirby, Jesus Sanchez, Luis Arraez, Edward Cabrera, Jordan Lyles, Corbin Carroll, Zach Davies, Emmanuel Rivera, Ketel Marte, Carroll, Davies, Joey Meneses, Dominic Smith, Patrick Corbin, Chris Bassitt, Alejandro Kirk, Bo Bichette, Brandon, Yordan Alvarez, Ronel Blanco, Amed Rosario, Josh Naylor, Josh Bell, Tanner Bibee, Rafael Devers, Kutter Crawford, Michael Harris II, Harris, Nick Anderson, A.J, Minter, Brooks Raley, Pete Alonso, Charlie Morton, Joey Wiemer, Corbin Burnes, Willy Adames, Dean Kremer, Austin Slater, LaMonte Wade Jr, Taylor Rogers, Camilo Doval, Logan Webb Webb, Nolan Jones, Ezequiel Tovar, Connor Seabold Organizations: Cincinnati Reds, Los Angeles Dodgers, Great, Cincinnati, Dodgers, Reds, Rays, Tampa, Minnesota, Cardinals, Rangers, Texas, Athletics, Pirates, Oakland, Pittsburgh, Padres, Mariners, San, Marlins, Royals, Miami, Kansas City, Diamondbacks, Nationals, Arizona, Washington, Blue Jays, Astros, Toronto, Houston, Brandon Belt, Red Sox, Cleveland, Boston, Braves, Mets, National League, Brewers, Orioles, Baltimore, Giants, Rockies, Colorado, Colorado ., Thomson Locations: Cincinnati , Ohio, USA, Los, St . Petersburg, Fla, Bay, Minnesota, Arlington , Texas, San Diego, Seattle, Atlanta, New York, Milwaukee, San Francisco, Denver, Colorado . San Francisco, Colorado
Former governor and UN ambassador Nikki Haley is running for president in 2024. Her husband, Michael, will soon begin a yearlong deployment with the South Carolina Army National Guard. Loading Something is loading. Michael Haley, a major in the South Carolina Army National Guard who was deployed for the first time while his wife was governor, will soon be deployed to Africa. Here's a closer look at Nikki Haley's family, including husband Michael, their children, and her parents.
Persons: Nikki Haley, Michael, Rena, Nalin, , Michael Haley, Nikki Haley's Organizations: South Carolina Army National Guard, Clemson University, Service, National Guard Locations: CNN's, Africa
Investors poured a record $8.5 billion of cash into tech funds last week, Bank of America found. The AI "baby bubble" has become the dominant theme for markets, strategist Michael Hartnett said. Tech funds brought in a record $8.5 billion in the week ending May 31, the bank found. Contrarian-minded investors should sell AI stocks and buy shares in Hong Kong-listed companies, which could benefit from China's efforts to revive its faltering economy, Hartnett said. Read more: Tech stocks are outperforming their rivals by the most since the dot-com bubble
Persons: Michael Hartnett, , Bill Ackman, Stanley, Hartnett, Read Organizations: Bank of America, Nasdaq, Service, Tech, Nvidia, Meta, Federal Reserve Locations: ChatGPT, There's, Hong Kong
Most of the stock market gains this year have been powered by a handful of tech-focused names that have posted outsized increases, according to Bank of America. Call them the S & P 7 — or, as the firm's chief investment strategist, Michael Hartnett, labels them, the "Magnificent Seven." Together, the stock bloc has contributed 8.8 percentage points of the S & P 500 's total 10% increase, as of Thursday's close, for all of 2023. In May alone, the seven stocks posted a gain of 16%, thanks to Nvidia's earnings-fueled acceleration. "Monetary policy remains the 'big dog' & set to tighten in coming months… biggest reason we are not capitulating into risk despite price action," Hartnett wrote.
Persons: Michael Hartnett, Jim Cramer, bitcoin, Hartnett, it's Organizations: Bank of America, Nvidia, Apple, Microsoft, Facebook, Big Tech, Federal Reserve Locations: China
The husband of Nikki Haley, the Republican presidential candidate and former governor of South Carolina, is preparing to deploy to Africa with the Army National Guard, a military tour that is expected to last a year and for most of the G.O.P. The deployment of Michael Haley, a major in the National Guard, was confirmed on Friday by a person familiar with his plans. The person asked not to be identified because they were not authorized to speak publicly about the matter. The deployment, his second in an active-duty role overseas, was first reported by The Associated Press. It will overlap with much of the Republican nominating competition, which has picked up speed in recent weeks as more candidates join the field.
Persons: Nikki Haley, Michael Haley Organizations: Republican, Army National Guard, National Guard, The Associated Press Locations: South Carolina, Africa
To drum up business, Chinese leaders have urged foreign companies to invest more in the country, promising them an open and level playing field. “The interests of the United States and China are intertwined like conjoined twins,” he was quoted as saying by the foreign ministry. Over time, “there will be less trade” between China and the United States, Dimon predicted. The move was seen as retaliation for restrictions the United States has imposed on Chinese chipmakers. The interests of the United States and China are intertwined like conjoined twins.
Persons: Elon, Laxman, Jamie Dimon, Qin Gang, Tesla, Elon Musk, Musk, , Warren Buffett, Dimon’s, Dimon, That’s, Bain, “ who’s, ” Michael Hart, Ben Cavender, Nick Marro, Tim Cook, Cook, Marro, , ” —, Sophie Jeong, Martha Zhou Organizations: Hong Kong CNN, Tesla, Starbucks, JPMorgan, Apple, Samsung, Aramco, Volkswagen, HSBC, Standard Chartered, Foreign, China's Ministry of Foreign Affairs, Reuters, China’s Foreign, Shanghai’s Communist Party, Bloomberg, Group, American Chamber of Commerce, CNN, British, of Commerce, China Market Research Group, US, Micron, Economist Intelligence Unit, “ Companies, China Development Forum Locations: Hong Kong, China, Beijing, United States, Shanghai, Taiwan, Washington, New York, American, Xinjiang
Why ChatGPT could spark a new bull market
  + stars: | 2023-05-22 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +5 min
Phil Rosen here, still poking around OpenAI's new ChatGPT iPhone app. The rise of ChatGPT and subsequent AI boom could solidify the recent strength in stocks as a new bull market, according to market veteran Ed Yardeni. In a recent note, the strategist said equities' strong start to the year isn't just a bear market rally, but that it indeed marks a new bull regime. If the Fed mistakenly pauses and then resumes hiking as inflation persists, the music could stop for high flying AI stocks. Mega-cap tech stocks are "overbought" and their rally could stall out soon.
What could burst the bubble is the Fed pausing rate hikes and then restarting the cycle. AI is in a "baby bubble" for now, Michael Hartnett, chief investment strategist at Bank of America Global Research, wrote on Friday. The Fed may be on the way to pausing its run of rate hikes at its June 14 gathering. The dot-com bubble popped nine months later. "AI = internet," wrote Hartnett.
At least that's the thinking of a small but growing chorus of voices on Wall Street who outline the case for further stock market gains after both the S & P 500 and Nasdaq Composite touched nine-month highs this past week. The VIX was trading around 16-17 late this week, signaling no great fear among professional traders. Walmart and other retailers this week highlighted consumers are spending less freely, but they're still spending , and that drives two thirds of the economy. Even Mark Haefele, chief investment officer at UBS Global Wealth Management, wrote late this week that he has to entertain what could go right in markets, despite the fact his own view is fundamentally bearish. If that "upside scenario" happens, UBS sees global stocks moving 13% higher by the end of December, and the S & P 500 surging another 6% — to north of 4,400.
Robert confronted Winenger with the allegations that November, and within weeks Winenger denied the claims in family court. In a family court hearing in Vista, California, on October 28, 2021, Commissioner Patti Ratekin chastised Jill Montes for allegedly alienating her kids from her ex-husband. From a list provided by the Delaware Family Court, Kelly chose a psychologist, William Northey. Their father cited the report in asking a Delaware family court judge to order the boys to change schools. Family Court of the State of Delaware, New Castle CountyCiting the email and a subsequent report, Michael pressed Ostroski to order the transfer.
Persons: he'd, Robert, stepdad, Thomas Winenger, Winenger, Robert's, Jill Montes, Montes, Patti Ratekin, she'd, Ratekin, Richard Gardner, Gardner, Lynn Steinberg, she's, Maya, shrieks, Joan Meier, They'd, , Meier, Tom Brenner, Paige, Maggie Shannon, Claire, Eden, Weeks, Hester Prynne, Mitra Sarkhosh, Sarkhosh, San Diego Robert, Tom Winenger, Tamatha Clemens, Miguel Alvarez, Alvarez, overreact, Alvarez didn't, Bridges, Janell Ostroski, Linda Gottlieb, Ostroski, Michael D, Ashton, Alfield Reeves, Michael, Kelly D, Kelly, who've, Randy Rand, Chris, Rand, he's, Rand isn't, Jane Shatz of, Joann Murphey, Murphey, Steinberg, Ally Toyos, Kit R, Toyos, Emily, Richard Warshak, Elizabeth Loftus, Harvey Weinstein's, Loftus, Hannah Rodriguez, Linda Gottlieb's, Gottlieb, Rodriguez, Yvonne Parnell, Brian Ludmer, Ludmer, Parnell, aren't, Daniel Barrozo, Mom, Jean Mercer, Mercer, who'd, Michael Saini, Saini, Hannah Yoon, — Ashton, Judge Ostroski, William Northey, Northey, O, Addie Asay, mistreating Ashton, Rachel Brandenburg, Brandenburg, I've, Michael's, Gardner's, Gardner dosed, Dr, Paul Fink, Fink, Warshak, William Bernet, Patrick Clancy, doesn't, She'd, Brian Fitzpatrick, Sen, Susan Rubio, Meier's, Rebecca Connolly, didn't, Connolly, Heidi Simonson, Rubio, Theresa Manzella Organizations: Investigations, San, Business, Child Welfare, of, American Psychiatric Association, World Health Organization, American Professional Society, George Washington University, Violence Law, George Washington University Law School, Columbia University, PAS, Sarkhosh, San Diego County Sheriff's Department, California Health, Welfare Agency, Psychology, Bridges, Texas, Roane, Stockton University, University of Toronto, Families, Delaware Family Court, Family, Delaware Family, Association of Family, Conciliation, Newsday, University of Texas Southwestern Medical Center, HarperCollins, Family Bridges, Vanderbilt University, Disorders, The Justice Department, WHO, of Social Welfare, Family Law, Winenger, Montes, Superior Locations: San Diego County, Vista , California, of California, Family Bridges, United States, Santa Cruz , California, Sacramento, Los Angeles, San Diego, toddlerhood, Ratekin, San, California, Eden, New Castle County , Delaware, New York, Ashton, Delaware, Jane Shatz of California, Seattle, Southern California, Texas, Kansas, Toyos, Bozeman , Montana, Family, Tampa , Florida, New, Hudson Valley, Chino , California, Wilmington , Delaware, of Delaware, New Castle County, Denver, Washington, Pennsylvania, Susan Rubio of Los Angeles County, statehouses, Watsonville , California, Santa Cruz, Michigan , Kansas, Utah, Colorado, Montana
Investors are loading up on mega-cap tech stocks as they turn more bearish, according to Bank of America. The bank said tech is the "most crowded trade" followed by shorting banks and shorting the US dollar. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. According to Bank of America's global fund manager survey, tech stocks are the "most crowded trade" on Wall Street as bearishness towards the broader stock market hits its highest level so far this year. Mega-cap tech stocks have a war chest of cash and a wide moat around their businesses that in the past have enabled steady growth during periods of economic weakness.
"Markets reacted positively because they saw the inflation data as a small positive," said Michael Harris, president at hedge fund Quest Partners LLC. The rate-sensitive S&P 500 technology sector index (.SPLRCT) went up 1.22% and the communication services (.SPLRCL) rose 1.69%. REUTERS/Brendan McDermidIndexes were choppy during the session, as investors digested the positive inflation print with concerns about the looming debt ceiling. Advancing issues outnumbered decliners on the NYSE by a 1.32-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favored advancers. The S&P 500 posted 18 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 86 new highs and 152 new lows.
New York CNN —Dire warnings about the economic chaos and catastrophe that will ensue if the US debt ceiling isn’t lifted soon abound. The debt ceiling crisis of 2011 caused Standard and Poor’s to downgrade US debt for the first time in history. Schwenkler says to expect “a lot more volatility” if debt ceiling issues don’t appear resolved by the last week of the month. By contrast, recovery from a debt-default crisis would likely start the day Congress, belatedly, suspended the debt ceiling,” he added. “A misstep over the debt ceiling would subject businesses and consumers to an economic shockwave,” he added.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis is not like the 2011 debt ceiling crisis, warns fmr. sr. advisor to House Dem leader JeffriesMichael Hardaway, former senior advisor to House Democratic Leader Hakeem Jeffries, and Rohit Kumar, PwC's national tax office leaders and former deputy chief of staff to Sen. Mitch McConnell, join 'Squawk Box' to discuss the latest in debt ceiling negotiations, and what comes next after President Biden and House Speaker Kevin McCarthy failed to reach consensus during Tuesday's meeting.
MLB roundup: Down 6, Rays stun Gerrit Cole, Yanks
  + stars: | 2023-05-08 | by ( ) www.reuters.com   time to read: +12 min
Cole gave up six runs (five earned) and eight hits, striking out six and walking two in his five-plus innings. The winning pitcher was Michael Tonkin (3-1), who did not allow a hit over two scoreless innings. Lourdes Gurriel Jr. homered twice, scored four runs and had four RBIs and Christian Walker also homered for Arizona, which had its win streak snapped at three. Pittsburgh starter Roansy Contreras (3-3) allowed five runs and nine hits in five innings, with four strikeouts and three walks. Yarbrough allowed one run on three hits over 5 2/3 innings, his longest start since July last year with the Tampa Bay Rays.
The American Human Association monitors roughly 70% of animal action in Hollywood productions. Since they've trademarked the "No Animals Were Harmed" disclaimer, only they can issue and define it. And despite past accounts of cover-ups, AHA guidelines aim to provide productions and animal trainers with a better understanding of animal safety limitations. Video footage released in 2016 showed Michael Hackenberger, Hollywood animal trainer and owner of the Bowmanville Zoo, whipping a tiger named Uno multiple times. Even so, many people believe the only movies that can truly state "No Animals Were Harmed" are movies that replace animal actors with computer-generated imagery.
Shares of First Republic dropped more than 40% in pre-market trading today, while JPMorgan stock ticked 2.9% higher. Let's check in on Russia's wartime economy. To the surprise of many forecasters, Russia's economy has held up better than expected as it carries on into the second year of its war on Ukraine. And leaked documents, first reported by the Washington Post, suggest that Russia can fund its war for at least another year. Specifically, US intelligence says Moscow can rely on its sovereign wealth fund to help pay for its war efforts, as well as higher corporate taxes and ramped-up imports.
The chart below shows how far the S&P 500 would have to fall to provide either a 10% return or 2% premium over Treasury bonds. He sees the S&P 500 finishing 2023 at around 3,150, he told YouTube channel Wealthion. Predicted in 2000 that the S&P 500 would likely see negative total returns over the following decade, which it did. Predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009. The S&P 500, by comparison, is up 0.8% over the past year.
Sell the S&P 500 when it rises above 4,200, Bank of America's chief stock strategist said Friday. "We stay bearish" as the US economy looks set to end 2023 with stress in the labor market and weak earnings. The S&P 500 was edging toward logging a 20% gain from its bear-market low. He reiterated his call to sell the S&P 500 above 4,200 — less than 0.1% from the current level — in part as stocks are pricing in a decline of "just" 4% in per-share corporate earnings. It said 76% of S&P 500 companies that posted results had outstripped Wall Street's targets.
Charles Hull, who co-founded Theaterworks USA, a touring theater company that has brought professional performances to tens of millions of young people across the country, died on April 14 at his home in Manhattan. Hull, who had been an Off Broadway, summer stock and commercial actor, founded the company that became Theaterworks in 1961 with the director Jay Harnick. Hull was the company’s managing director and Mr. Harnick its artistic director. Hull and Mr. Harnick were staging as many as 20 made-to-move productions in nearly 500 cities a year without the fuss, or expense, of a Broadway effort. “The term we use is cafegymatorium,” Michael Harrington, Theaterworks’ current executive director, said in a phone interview.
Five Horror Movies to Stream Now
  + stars: | 2023-04-28 | by ( Erik Piepenburg | ) www.nytimes.com   time to read: +1 min
Ruben Broekhuis’s propulsive thriller mixes documentary and found-footage conventions to tell a sinister and unpredictable story about surveillance and the dark web. The young siblings were in a shelter, about to be adopted, when one day Adin mysteriously disappeared. When Elias and Aisha arrive at the shelter with the camera rolling, blows are exchanged as the administrators question the visitors’ motives. But then — and here’s where the film made me sit straight up — the camera’s point of view switches. A knockout final stretch explains most everything, but the film concludes with a too-twisty coda.
The revision is likely to heighten concerns of foreign individuals, such as academic researchers or journalists, and businesses about visiting or operating in China. “Something like a local government budget you could broadly define as relating to national security, or even food security,” he said. “Researchers definitely need to be careful.”China says its laws related to national security and espionage are meant to safeguard the country. “Even with this amendment we still don’t understand what kind of document constitutes a national security issue,” he added. Chinese authorities did not offer details about both cases, including the reason for the crackdown, but analysts say the move is likely to further spook foreign businesses operating in China.
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