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☆ Biden's new immigration executive order could tighten labor markets, but ease supply chain bottlenecks
▼ + stars: | 2024-06-04 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +8 min

Mike Blake | ReutersSince 2019, immigration has added 2 million workers to the U.S. labor supply, according to an April analysis by Tedeschi. Without immigrants, Tedeschi estimated that the size of the U.S. labor supply would have shrunk by 1.2 million during that period. The short answer is that this executive order will probably not increase inflation. Some experts say the executive order could bring down costs by smoothing out the U.S.-Mexico supply chain. Biden's executive order could help clear some of these supply chain bottlenecks.

Persons: Joe Biden, Leah Millis, Joe Biden's, Biden, Andrés Manuel López Obrador, Jose Luis Gonzalez, Ernie Tedeschi, Tedeschi, Trucks, Daniel Becerril, Donald Trump, I'd, Mike Blake, Tara Watson, Guillermo Arias, Jerry Pacheco, It's, Pacheco, Watson, Trump, Saul Loeb Organizations: White, . Border Patrol, Department of Homeland Security, NBC, Texas National Guard, Reuters, United, Yale University's, White House Council, Economic Advisers, Customs, Brookings, Immigrants, AFP, Getty Images Shipping, Border Industrial Association, Getty Locations: U.S, Mexico, Washington , U.S, United States, Texas, Ciudad Juarez, Nuevo Laredo, Biden's, San Diego , California, Mesa Port, Tijuana , Mexico, New Mexico, Calexico , California

☆ How Republicans rail against government spending on TV — only to brag about its benefits back home
▼ + stars: | 2024-01-23 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

But most of it came from a must-pass spending bill that he and other Republicans voted against. AdvertisementIt was late December 2022, and Republicans were furious about the 2023 omnibus spending bill, a sprawling piece of legislation designed to avert a government shutdown and keep federal spending flowing for the next 9 months. In the end, just 9 Republicans voted for it, only 2 of whom remain in Congress. Rep. Mike Garcia of California, a member of the House Appropriations Committee that oversees government spending, was among those Republicans. Yet almost all of the funding that Garcia touted in the mailer came from the omnibus spending bill that he made a show of voting against the previous December.

Persons: Mike Garcia, —, Marjorie Taylor Greene, Kevin McCarthy, Mike Garcia of, Garcia, Kathy Norris, mailer, Sen, Tommy Tuberville, David Schweikert of, Maria Elvira Salazar, Spokespeople, Salazar, Alexandria Ocasio, Cortez Organizations: Service, Republicans, Children's Hospital of Los, mailer, Industrial Association, College of, Canyons, Republican, Democratic, Department of Homeland Security Locations: Georgia, Mike Garcia of California, Los Angeles, Children's Hospital of Los Angeles, Lancaster, Alabama, David Schweikert of Arizona, Maria Elvira Salazar of Florida, Alexandria, Cortez of New York

☆ Government shutdown doesn't halt, but hinders Pentagon work
▼ + stars: | 2023-09-28 | by ( Mike Stone | ) www.reuters.com time to read: +2 min

Troop pay is delayed during a government shutdown, but Singh said housing and bills are not. For example, Ukrainian "F-16 pilot training would continue," said Chris Sherwood a Pentagon spokesman. However, some "delivery of defense articles, services, and/or military education" could be paused, Sherwood said. "Under a shutdown, the government stops payments on invoices not yet paid for costs incurred before the shutdown," the letter said. NDIA and PSC represent companies like Lockheed Martin Corp (LMT.N), L3Harris Technologies Inc (LHX.N), Bank Of America Corp (BAC.N) and Oracle Corp (ORCL.N).

Persons: Carlos Barria, Sabrina Singh, Singh, Chris Sherwood, Sherwood, David Norquist, David Berteau, Mike Stone, Alistair Bell Organizations: Pentagon, REUTERS, Rights, Department of Defense, Democratic, U.S, Senate, National Defense Industrial Association, Professional Services Council, Congressional, NDIA, PSC, Lockheed Martin Corp, L3Harris Technologies, Of America Corp, Oracle Corp, Thomson Locations: Arlington , Virginia, U.S, Ukraine, Washington

☆ China EV adviser sees tech tie-ups resolving EU trade conflicts
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

Robotic arms assemble cars in the production line for Leapmotor's electric vehicles at a factory in Jinhua, Zhejiang province, China, April 26, 2023. Meanwhile, European automakers can also leverage China's EV technologies to accelerate their transition to electrification, he added. Chinese EV maker Xpeng (9868.HK) in July struck a deal with Volkswagen (VOWG_p.DE) to jointly build two new models based on Xpeng's EV platform in China. Others, like LeapMotor (9863.HK) are also seeking to license its EV technologies to foreign partners. Chinese battery maker CATL (300750.SZ) has been ramping up its German plant and is building another site in Hungary.

Persons: Dong Yang, EVs, Ursula von der Leyen, Zhang Yan, Brenda Goh, David Evans Organizations: REUTERS, Rights, European Commission, EV, China's Ministry of Machinery, BAIC Group, Gang, Munich IAA, European, Xpeng, HK, Volkswagen, Thomson Locations: Jinhua, Zhejiang province, China, Europe, Munich, Hungary

☆ Pentagon Vows to Move Quickly to Buy More Drones, Citing China Threat
▼ + stars: | 2023-08-28 | by ( Eric Lipton | More About Eric Lipton | ) www.nytimes.com time to read: +1 min

The commitment came from Kathleen Hicks, the deputy defense secretary. The Pentagon, Ms. Hicks conceded, is “too risk averse” as “our system was built for the industrial age, not the information age, let alone the age of A.I.,” referring to artificial intelligence and citing criticism she has raised or heard from others. “I’ll let you in on a little secret,” she said, according to a transcript of her prepared remarks before the National Defense Industrial Association in Washington. As one of the world’s largest organizations, it’s often hard to see ourselves clearly, and get out of our own way. So I’m far from satisfied that everything is working as it should.”

Persons: Kathleen Hicks, Hicks, “ I’ll, ”, “ Organizations: Pentagon, National Defense Industrial Association Locations: China, Russian, Washington

☆ Pentagon has strategic germanium stockpile but no gallium reserves
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, July 6 (Reuters) - The Pentagon holds a strategic U.S. stockpile for germanium but currently has no inventory reserves for gallium, a spokesperson said on Thursday, after China announced export restrictions on the two metals used in semiconductors. "The (Defense) Department is proactively taking steps using Defense Production Act Title III authorities to increase domestic mining and processing of critical materials for the microelectronics and space supply chain, including gallium and germanium," the spokesperson said. Germanium is used in high-speed computer chips, plastics and military applications such as night-vision devices, as well as satellite imagery sensors. Gallium is used in radar and radio communication devices, satellites and LEDs. While major defense contractors like Lockheed Martin Corp (LMT.N) may not buy gallium and germanium directly, they likely purchase semiconductors from suppliers who source Chinese gallium and germanium, said Arun Seraphin, executive director for the National Defense Industrial Association’s Emerging Technologies Institute.

Persons: Arun Seraphin, ”, Dak Hardwick, Hardwick, Xi Jinping, Idrees Ali, Phil Stewart, Valerie Insinna, Rami Ayyub, Doina Chiacu, Mark Porter, Marguerita Choy Organizations: Pentagon, China, Defense, Department, Lockheed Martin Corp, National Defense Industrial, Emerging Technologies, Aerospace Industries Association, U.S, Shanghai Cooperation Organisation, Thomson Locations: U.S, China

☆ German industry urges reduced dependency after China export controls
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +2 min

The Chinese export restrictions "illustrate the urgency for Europe and Germany to quickly reduce their dependency on critical raw materials now," said Wolfgang Niedermark, a member of the BDI German industrial association. In a position paper, the group said that Germany's and Europe's dependency on mineral raw materials such as rare earths from China was "already greater than that of oil and natural gas from Russia". Another German industry group, Bitkom, called for steps to massively increase Germany and Europe's digital sovereignty . Last week, European Union member states adopted the Critical Raw Materials Act, a centrepiece of the EU strategy to ensure industry can compete with the United States and China. The BDI's Niedermark said that agreement to recycle and process raw materials sent an important signal but called for a similar push to establish domestic mining in Europe.

Persons: Wolfgang Niedermark, Bernhard Rohleder, Niedermark, Rachel More, Hakan Ersen, Madeline Chambers, Miranda Murray, Emelia Organizations: Union, Thomson Locations: BERLIN, Europe, China, Germany, Russia, Berlin, Ukraine, Beijing, United States

☆ VW's China joint venture transforms Shanghai plant for EV production
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

Swen Pfoertner/Pool via REUTERS/File PhotoSHANGHAI, June 6 (Reuters) - Volkswagen 's Chinese joint venture with SAIC Motor (600104.SS) has transformed one of its plants in Shanghai for production, research and development of electric vehicles (EV), the German automaker said on Tuesday. Production of internal combustion engine models at the main plant of SAIC Volkswagen in Anting of Shanghai will be relocated to other plants, Volkswagen said in an emailed statement to Reuters, which came after comments on social media saying Volkswagen was shutting a plant in Shanghai. The change will not affect the production capacity for individual models, it added. The move underscores Volkswagen's efforts to accelerate its shift to electrification as it has been losing shares in its biggest market where it lags behind Chinese rivals in launching new EV models. Volkswagen-branded cars have been outsold by electrified vehicle maker BYD since November last year, according to data from industrial associations.

Persons: Swen, Zhang Yan, Brenda Goh, Emelia Sithole Organizations: Volkswagen, SAIC, SAIC Volkswagen, Reuters, Thomson Locations: Wolfsburg, Germany, SHANGHAI, Shanghai, Anting

Since the early days of the invasion, Mr. Putin has conceded, privately, that the war has not gone as planned. “I think he is sincerely willing” to compromise with Russia, Mr. Putin said of Mr. Zelensky in 2019. To join in Mr. Putin’s war, he has recruited prisoners, trashed the Russian military and competed with it for weapons. To join in Mr. Putin’s war, he has recruited prisoners, trashed the Russian military and competed with it for weapons. “I think this war is Putin’s grave.” Yevgeny Nuzhin, 55, a Russian prisoner of war held by Ukraine, in October.

☆ Bulgaria to send its first military aid to Ukraine
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +1 min

SOFIA, Dec 9 (Reuters) - Bulgaria will send its first military aid to Ukraine since the Russian invasion after parliament on Friday approved a list of arms drawn up by the interim government. It had been one of the few EU countries not to send aid after the Russia-friendly Socialist party, a coalition partner in the previous government, blocked a previous proposal in May. The list of arms is classified, but government officials have said Sofia would mainly send light weaponry and ammunition. While Bulgaria has not been sending arms to Ukraine, its arms manufacturers have seen a surge in exports, a report by the Bulgarian Industrial Association showed in November. A total of 148 lawmakers from the 240-seat parliament voted to send the aid on Friday, with the Socialists and the pro-Russian Revival party voting against.

☆ Bulgarian lawmakers give government month to devise Ukraine military aid plan
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

SOFIA, Nov 3 (Reuters) - Bulgaria should send military aid to Ukraine, the parliament decided on Thursday, giving the caretaker government one month to come up with a plan for what weapons the Black Sea country could send to support Kyiv. At present, Bulgaria is one of the few European Union countries not sending military aid to Ukraine, after the Russia-friendly Socialist party, a coalition partner in the previous government, blocked such a decision in May. It was not immediately clear what military aid could be sent or how soon it can happen. Georg Georgiev, a lawmaker from centre-right GERB party, outlined the need to support Ukraine and start giving weapons instead of only selling them. Bulgarian arms exports have more than doubled since the start of the Russian invasion of Ukraine, a recent report by the Bulgarian Industrial Association showed.

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