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☆ China FDI: Foreign investors are really frustrated with country’s economic challenges
▼ + stars: | 2023-11-06 | by ( Manav Tanneeru | Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —The world’s second largest economy is struggling to attract foreign companies and investments, despite Beijing’s efforts to address its myriad economic challenges, according to new data from China. A gauge of foreign direct investment (FDI) into China has slipped into the red for the first time since 1998, underscoring the country’s failure to stem capital outflows. It suggests foreign companies may be taking their money out of the country, instead of re-investing in their operations. Direct investment liabilities include profits belonging to foreign companies that have not yet been repatriated or distributed to shareholders, as well as foreign investment in financial institutions, according to the government. Late last month, China’s legislature approved one trillion yuan ($137 billion) in sovereign bonds to support the economy.

Persons: Refinitiv, Ant, “, Xu jingbai, ICHPL, Xi Jinping, ”, ” Carlo D’Andrea, Shanghai —, JP Morgan, Tesla Organizations: Hong Kong CNN, State Administration of Foreign Exchange, Commerce Ministry, Vanguard, BlackRock, CNN, Bloomberg, China, European Union Chamber of Commerce, People’s Bank of, HSBC, American Chamber of Commerce Locations: China, Hong Kong, Shanghai, Beijing, outflows, People’s Bank of China

☆ China pledges to expand market access at annual trade fair amid foreign criticism
▼ + stars: | 2023-11-05 | by ( Brenda Goh | ) www.reuters.com time to read: +3 min

SHANGHAI, China (Reuters) -China will further expand market access and increase imports, its premier told a trade fair in Shanghai on Sunday, amid criticism from European firms who said they wanted to see more tangible improvement in the country’s business environment. China will promote coordinated development of trade in goods and services, protect an international business environment, and relax market access including lifting restrictions on foreign investment in manufacturing, he said. The import expo was launched by President Xi Jinping in 2018 to promote China’s free trade credentials and counter criticism of its trade surplus with many countries. China’s imports have slumped this year amid a slowdown in the world’s second largest economy, although data released last month indicated that the downtrend could be starting to ease. China will “actively promote” its application to join the Comprehensive Progressive Trans-Pacific Partnership (CPTPP), Li also said in his speech on Sunday.

Persons: Li Qiang, Tingshu Wang, ” Li, Xi Jinping, Li, Anthony Albanese, “ Organizations: Hangzhou Olympic Sports Centre, China, European Chamber of Commerce, Micron Technology, Nestle, Burberry, Australian, Pacific Locations: SHANGHAI, China, Shanghai, Hangzhou, Afghan, Australia, United States, Taiwan, Ukraine, Costa Rica, Uruguay, Ecuador, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, Britain

☆ Gary Gensler and the SEC Lose Again
▼ + stars: | 2023-11-03 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Review and Outlook: Minnesota Congressman Dean Phillips fears President Biden could lose to Donald Trump, and he’s right. Images: Reuters/AFP/Getty Images Composite: Mark KellyIs Gary Gensler ever going to win a case? On Tuesday the Fifth Circuit Court of Appeals handed the Securities and Exchange Commission Chairman another legal defeat by scuttling the agency’s stock-buyback rule (U.S. Chamber of Commerce v. The SEC in May finalized a rule requiring public companies to disclose their daily share repurchases and the reason for buying back their stock. Mr. Gensler claimed companies might buy back their stock to boost executive compensation, which is sometimes tied to accounting metrics such as earnings per share.

Persons: Dean Phillips, Biden, Donald Trump, Mark Kelly, Gary Gensler, Gensler Organizations: AFP, Getty, Circuit, Appeals, Securities and Exchange, . Chamber, Commerce, SEC Locations: Minnesota

WASHINGTON (AP) — Chinese middlemen launder the proceeds of North Korean hackers’ cyber heists while Chinese ships deliver sanctioned North Korean goods to Chinese ports. China views North Korea as a buffer against the U.S., which maintains a significant troop presence in South Korea. The U.S. has accused North Korea of supplying artillery shells and rockets to Russia, while new evidence shows Hamas fighters likely fired North Korean weapons during their Oct. 7 assault on Israel. “China violates North Korea sanctions it voted for and says won’t work because it’s afraid they’ll work. Such “over-the-counter” brokers allow North Korean hackers to bypass know-your-customer rules governing banks and other financial exchanges.

Persons: “, ” Aaron Arnold, Kim Jong Un, ”, Joshua Stanton, cryptocurrency, Anthony Ruggiero, couldn’t, hadn’t, Eric Penton, Dake Kang Organizations: WASHINGTON, North, Associated, United Nations, Royal United Services Institute, U.S, . Security, North Korean, Kremlin, AP, Treasury, government’s Ministry of Commerce, U.N, Associated Press, Carnegie Corporation of New, Outrider Foundation, Investigative@ap.org Locations: Beijing, Korea, North Korea, China, Pyongyang, South Korea, Ukraine, The U.S, Russia, Israel, North, U.S, Carnegie Corporation of New York

REUTERS/Andrew Galbraith/File Photo Acquire Licensing RightsSHANGHAI, Nov 3 (Reuters) - The European Union Chamber of Commerce on Friday criticised an upcoming trade fair in China as being more of a "political showcase" than about doing business and pushed for more tangible measures to restore confidence among European companies. "It's more a government affairs event, more a marketing event and there's been really little said on business. You can say CIIE has become more of a political showcase rather than a business event," Carlo D'Andrea, the chamber's vice president, told reporters at a briefing in Shanghai. "European businesses are becoming disillusioned as symbolic gestures take the place of tangible results needed to restore business confidence," he said. The European Union's top diplomat, Josep Borrell, visited last month, as have several other top EU officials in recent months.

Persons: Xi Jinping, Andrew Galbraith, Li Qiang, Anthony Albanese, there's, Carlo D'Andrea, Josep Borrell, Brenda Goh, Sonali Paul Organizations: China, REUTERS, Rights, European Union Chamber of Commerce, Australian, European Union, Micron, Nestle, Burberry, Thomson Locations: Shanghai, China, Europe, EU

We are actually going to be looking at this in the very early days of generative AI. casey newtonYeah, this feels like one of the big questions in AI right now. rebecca tushnetSo I see why you say that’s strange, but in fact, it’s exactly how you would make a general-purpose tool. But now, finally, along come these new technologies to take them down a peg, and they’re actually going to have to work for a living. So maybe they’re slapping, like, AI sort of things around the stories that they’re aggregating.

Persons: kevin roose Casey, casey newton What’s, kevin roose, casey newton Dots, casey newton, they’re, kevin roose —, casey newton Dot, CASEY, Biden, Mr, kevin roose I’m Kevin Russo, ” casey newton, Casey Newton, Rebecca Tushnet, casey newton Kevin, I’d, Rachel, kevin roose Aw, Harry Potter, kevin roose Wow, SpongeBob, Chuck Schumer, let’s, it’s, Claude, kevin roose Totally, casey newton Yes, Yann LeCun, It’s, you’re, you’ve, Sam Altman, Dario Amodei, kevin roose I’ve, Arati Prabhakar, arati prabhakar, Ben Buchanan, ben buchanan, casey newton Well, Dodd, Frank, I’m, kevin roose Will, You’ve, kevin roose God, kevin roose Hey, Casey, we’ve, Sarah Anderson, who’s, Emad Mostaque, Anderson, weren’t, Kevin, — casey newton, ” rebecca tushnet, rebecca tushnet, that’s, there’s, casey newton Right, I’ve, “ Barbie, “ Barbie ”, Sarah Anderson’s, rebecca tushnet It’s, Barbie, casey newton I’m, Rebecca, Westlaw, we’re, Cory Doctorow, what’s, casey newton Um, Pattie, it’s minty, Patties, Let’s, casey newton No, it’ll, casey newton That’s, KEVIN, “ Joe Biden, ’, Bruce Reed, Joe Biden, ” ‘, Reed, Camp David, Biden’s, —, kevin roose Jack, Jack, ”, Lily James, kevin roose Oh, kevin roose Ugh, kevin roose Horrible, kevin roose “ Cruise, ” “ Cruise, They’re, haven’t, casey newton Close, kevin roose It’s, Guy, casey newton I’ve, Newton Organizations: Target, Opera, The New York Times, White, White House, casey newton People, Google, casey, Science, Technology, Defense Department, Biden White House, Communications, Department of Commerce, European Union, Harvard Law, Midjourney, Copyright, Stability, Harvard Law School, Associated Press, Adobe, Starbucks, Disney, YouTube, Stetson, Media, Biden, NVIDIA, Variety, Staff, Associated, Microsoft, Guardian, General Motors, Cruise, House Locations: Washington, Bikini, Valley, OpenAI, Anthropic, Silicon Valley, Europe, America, York, They’re, Camp, Sydney, United States, California, Austin , Texas, Phoenix, Dallas , Houston, Miami, San Francisco, Franciscans

Steve Beshear – faces Republican Attorney General Daniel Cameron, a protege of Senate Minority Leader Mitch McConnell. In Mississippi, Republican Lynn Fitch is seeking a second term against Greta Kemp Martin, the litigation director of Disability Rights Mississippi. Democratic attorney Lindsey Cheek won the other runoff slot by taking 23% of the all-party primary vote. In Mississippi, Republican incumbent Michael Watson is seeking a second term and should easily defeat Democrat Ty Pinkins. She will face Democratic attorney, accountant, and small business owner Gwen Collins-Greenup, who finished second in the primary.

Persons: — it’s, Kentuckians, Andy Beshear, Jeff Landry, Beshear, Steve Beshear –, Daniel Cameron, Mitch McConnell, Kentucky’s, He’s, Cameron, Tate Reeves, Brandon Presley, Elvis Presley, Presley, Reeves, Democrat hasn’t, Jim Hood, Glenn Youngkin’s, Winsome Sears, Youngkin, Phil Murphy, Democratic Sen, Robert Menendez, Joe Biden, Max Baer, Carolyn Carluccio, Daniel McCaffery, Donald Trump, wouldn’t, Roe, Wade, Ohio’s, Sen, Bernie Sanders of, Janet Mills, Russell Coleman, McConnell, Pamela Stevenson, Republican Lynn Fitch, Greta Kemp Martin, Fitch, Liz Murrill, Landry, Lindsey Cheek, Michael Adams, Buddy Wheatley, Adams, Michael Watson, Ty Pinkins, Shuwaski Young, Young, Kyle Ardoin, Nancy Landry, Gwen Collins, Greenup Organizations: Democratic Gov, Democratic, Republican, Gubernatorial, Gov, Lean Democratic, Republican Gov, Public Service Commission, Democrat, Mississippi, Public, Impact Research, Lean Republican, State Legislative, Virginia, GOP, Senate, Republicans, House, George Mason University, Assembly, , New Jersey Republicans, Pleas, Superior Court, Ohio, Sierra Club, AFL, of Commerce, Avangrid Inc, Trump, Air Force, Disability Rights Mississippi, State, Iraq Locations: Mississippi, Virginia, Republican . New Jersey, Garden, Pennsylvania, Ohio, Maine, In Kentucky, Republican Mississippi, U.S, Northern Virginia, Richmond, Hampton Roads, Washington, New Jersey, , New Jersey, Montgomery County, In Ohio, Bernie Sanders of Vermont, Massachusetts, Texas, Kentucky, Louisiana, State Kentucky, In Mississippi

☆ Court Sends Stock-Buyback Rule Back to SEC
▼ + stars: | 2023-11-01 | by ( Paul Kiernan | ) www.wsj.com time to read: 1 min

The Securities and Exchange Commission has recently been pushing an aggressive regulatory agenda. Photo: Ariel Zambelich/The Wall Street JournalWASHINGTON—A conservative appeals court dealt a setback to the Securities and Exchange Commission’s plan to give investors more information about stock buybacks after business groups challenged the rule. Responding to a May lawsuit by the U.S. Chamber of Commerce and two Texas-based business groups, a three-judge panel on the Fifth Circuit Court of Appeals ruled that the SEC’s new requirements for share repurchases were “arbitrary and capricious.” The judges agreed with the groups’ assertion that the SEC didn’t adequately explain the rule’s costs and benefits.

Persons: Ariel Zambelich Organizations: Securities, Exchange Commission, Street Journal WASHINGTON, Exchange, U.S . Chamber of Commerce, Fifth Circuit, Appeals, SEC Locations: Texas

☆ U.S. to launch its own AI Safety Institute - Raimondo
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

[1/2] U.S. Commerce Secretary Gina Raimondo speaks on Day 1 of the AI Safety Summit at Bletchley Park in Bletchley, Britain on November 1, 2023. The UK Government are hosting the AI Safety Summit bringing together international governments, leading AI companies, civil society groups and experts in... Acquire Licensing Rights Read moreBLETCHLEY PARK, England, Nov 1 (Reuters) - The United States will launch a U.S. AI Safety Institute to evaluate known and emerging risks of what is called "frontier" artificial intelligence models, Secretary of Commerce Gina Raimondo said on Wednesday. "I will almost certainly be calling on many of you in the audience who are in academia and industry to be part of this consortium," she said in a speech to the AI Safety Summit in Britain. Raimondo added that she would also commit for the U.S. institute to establish a formal partnership with the United Kingdom Safety Institute. Reporting by Paul Sandle; writing by Kate Holton; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

Persons: Gina Raimondo, Raimondo, Paul Sandle, Kate Holton, William James Our Organizations: . Commerce, AI, Bletchley, Government, AI Safety, Summit, U.S, United Kingdom Safety Institute, Thomson Locations: Bletchley, Britain, BLETCHLEY, England, United States, U.S

When surveyed by the department, 45% of Ohio’s financial advisers said they were aware of a client of theirs, or a client’s family member, that was struggling with addiction. In the program, financial advisers are taught to look for certain signs. Those seeking help can input their insurance status and treatment needs to be connected programs they can more easily afford or receive financial help with. Financial advisers have had to come up with ways to combat a multitude of financial crises, like increasing cybersecurity breaches or investment fraud targeting the elderly. Lori Eisel, a financial adviser and owner of Arcadia Financial Partners, knows both sides of the struggle.

Persons: — Joe Smith, that’s, Smith, Smith’s, Olivia, don’t, ”, Andrea Seidt, ” Seidt, Carl Hollister, L.M, Kohn, Hollister, Lori Eisel, ” Eisel, “, Joe Smith, ” Smith, He’s, __ Samantha Hendrickson Organizations: Society of Actuaries, state’s Department of Commerce, Ohio, Arcadia Financial Partners, Associated Press, America Statehouse News Initiative, America Locations: COLUMBUS , Ohio, Columbus , Ohio, Ohio, Cincinnati, stow

☆ China says it will back global consensus on AI amid tech clash with U.S.
▼ + stars: | 2023-11-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

The UK Government are hosting the AI Safety Summit bringing together international governments, leading AI companies, civil society groups and experts in research to consider the risks of AI, especially at the frontier of development, and discuss how they can be mitigated through internationally coordinated action. His comments were delivered at the U.K.'s AI safety summit, which officially kicked off Wednesday at Bletchley Park, England. Wu Zhaohui, China's vice minister of science and technology, said the country was willing to "enhance dialogue and communication in AI safety with all sides." That has placed significant pressure on China's generative AI developers, many of which rely on Nvidia's chips. Raimondo also said the U.S. would look to launch an AI safety institute, hot on the heels of the U.K announcing its own intentions for a similar initiative last week.

Persons: Gina Raimondo, Michelle Donelan, China Wu Zhaohui, Leon Neal, Getty, Wu Zhaohui, Raimondo Organizations: State for Science, Innovation, Technology, Science, AI, Bletchley Park, Government, U.S, Bletchley, Union, U.S . Department of Commerce, U.K Locations: BLETCHLEY, ENGLAND, China, Bletchley , England, Beijing, Bletchley Park, England, U.S . China, U.S, Bletchley

☆ Regulator imposes trading halt on Canada hedge fund after founder's death
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

The regulator said it was informed on Saturday that Christopher Callahan, the sole director, officer and shareholder of Traynor, was dead. His death leaves Traynor without a director or officer in charge of the firm. "As a result, the three dealers have potential losses totalling approximately C$85 million ($61.27 million) to C$95 million," the regulator added, without naming the dealers. The firm and one of Callahan's colleagues listed on its website did not immediately respond to requests for comment. A Toronto police spokesperson said Callahan's death was not considered suspicious and they were not investigating.

Persons: Traynor, Christopher Callahan, Nia Williams, Jamie Freed Organizations: The Ontario Securities Commission, Inc, OSC, CIBC, Markets Inc, Canadian Imperial Bank of Commerce, TR1, Thomson Locations: Toronto, British Columbia

☆ Biden will meet with China's Xi Jinping next month, White House says
▼ + stars: | 2023-10-31 | by ( Amanda Macias | ) www.cnbc.com time to read: +3 min

China's President Xi Jinping and U.S. President Joe Biden at the G20 Summit in Nusa Dua on the Indonesian island of Bali on Nov. 14, 2022. WASHINGTON — President Joe Biden will meet with Chinese President Xi Jinping next month, the White House announced on Tuesday. "Intense competition means intense diplomacy," White House press secretary Karine Jean-Pierre said at a press briefing. Read more: White House restricts U.S. investment in some Chinese tech, citing national security concernsThe meeting comes as the White House works to rush security assistance and humanitarian aid to Israel amid an intensifying conflict with Hamas. Earlier this month, Xi and Putin met in Beijing to discuss additional ways to deepen their relationship.

Persons: Xi Jinping, Joe Biden, Karine Jean, Pierre, Jean, Janet Yellen, Antony Blinken, Gina Raimondo, Bill Burns, Jake Sullivan, John Kerry, Read, Trump, Xi, Vladimir Putin's, Biden, Putin, Volodymyr Zelenskyy Organizations: WASHINGTON, White, Economic Cooperation, National, Hamas, . Locations: Nusa Dua, Indonesian, Bali, Asia, San Francisco, China, Israel, U.S, Ukraine, Russian, Beijing, Russia, United States, Iran, North Korea

☆ U.A.W. Strike Gains Could Reverberate Far Beyond Autos
▼ + stars: | 2023-10-31 | by ( Noam Scheiber | More About Noam Scheiber | ) www.nytimes.com time to read: +1 min

Even before the strike ended, unions at other companies appeared to be doing just that. In an interview in late September, David Pryzbylski, a lawyer who represents employers, said union officials in two separate contract negotiations had invoked the U.A.W. “Outside the U.A.W., it’s putting wind in their sails,” Mr. Pryzbylski said. The element of strategy that the U.A.W. brought to its strike may also prove instructive to other workers and unions.

Persons: David Pryzbylski, Mr, Pryzbylski, “, Peter Olney Organizations: U.S . Chamber, Warehouse Union

☆ Why some of the 'clean' hydrogen hubs in the U.S. plan to use natural gas, a fossil fuel
▼ + stars: | 2023-10-31 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +11 min

The others will use a combination of renewables, nuclear power, and natural gas with carbon capture and storage. Putting federal money behind a program to fight climate change while using natural gas, a fossil fuel, as one of its main ingredients may not seem intuitive. To wit, the Bipartisan Infrastructure Law, where the funding for the hydrogen hubs comes from, specifically required that two of the selected hydrogen hubs be located in natural gas-rich regions. Making hydrogen from natural gas with carbon capture will require additional energy and be more expensive than producing hydrogen from natural gas where the excess carbon emissions just spew into the atmosphere. That is what the U.S. government is trying to change with its hydrogen hubs program and the production tax credit.

Persons: Joe Biden, Elizabeth Flores, Jennifer Granholm, Rachel Fakhry, Fakhry, Jonathan Ernst, Kent, Sean Heinroth, Young's, That's, Heinroth, Tom Oakland, Wisconsin —, They've, Alex Kizer, Kizer Organizations: Cummins, Star Tribune, Getty, Swiss Army, U.S . Department of the Energy, Natural Resources Defense, Energy, Department of Energy, CNBC, Reuters, Infrastructure Law, Ernst, of Energy, North Dakota Department of Commerce, Oakland, EFI Foundation, U.S, Treasury Department Locations: America, Fridley, Minn, United States, U.S, Tioga, Philadelphia , Pennsylvania, Houston, Montana , North Dakota, Minnesota, Wisconsin, Washington

☆ Q&A: White House AI advisor says US is 'catching up' to the tech, as Biden's new executive order demands transparency for the world's biggest AI models
▼ + stars: | 2023-10-30 | by ( Kali Hays | ) www.businessinsider.com time to read: +9 min

President Biden just signed an executive order regarding the development and use of AI technology. The broad executive order touches on more than a dozen possible uses of AI and generative AI that already are, or could in the future, directly impact people's lives. The size threshold is so high that currently most available models do not meet the criteria for further transparency called for in Biden's executive order. Although all of the major tech companies earlier this year agreed to adhere to standards of responsibility and training in their AI work. Do you think AI is in a hype cycle, and everybody's overreacting to what it's going to mean?

Persons: Biden, Ben Buchanan, —, Buchanan, Andrew Bosworth, We're, everybody's, Ben, Kali Hays Organizations: Service, White, Office of Science, Technology, Monday, Meta, Google, Microsoft, National Institute of Standards, Biden White House, Department of Commerce . Technology, Atomic Energy, Defense, EO Locations: United States, khays@insider.com

President Joe Biden unveiled a new executive order on artificial intelligence — the U.S. government's first action of its kind — requiring new safety assessments, equity and civil rights guidance and research on AI's impact on the labor market. Working with international partners to implement AI standards around the world. to implement AI standards around the world. It also comes ahead of the an AI safety summit hosted by the U.K.. President Biden's executive order requires that large companies share safety test results with the U.S. government before the official release of AI systems.

Persons: Joe Biden, government's, it's, Staff Bruce Reed, Biden's, Biden Organizations: Calif, White House, Commerce Department, Department of Health, Human Services, House, Staff, U.K, U.S, National Institute of Standards, Commerce, Sunday Locations: San Francisco, U.S, AI.gov

☆ Explainer: Why is Siemens Energy seeking $16 billion state guarantees?
▼ + stars: | 2023-10-29 | by ( ) www.reuters.com time to read: +5 min

The logo of energy technology company Siemens Energy is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. To make sure it can get the guarantees to fulfil its order backlog, Siemens Energy has turned to the government. Siemens owns a 25.1% stake in Siemens Energy and has not ruled out helping. Siemens still provides around 7 billion euros of performance guarantees to projects Siemens Energy is working on, significantly down from the 40 billion euros at the time of the spin-off around three years ago. Apart from seeking guarantees from the government, banks and Siemens, Siemens Energy said it is "evaluating various measures to strengthen the balance sheet", without elaborating further.

Persons: Chris Helgren, Banks, Roland Busch, hade, Andreas Rinke, Christoph Steitz, Victoria Farr, Andres Gonzalez, Pablo Mayo, Alexander Huebner, Tom Kaeckenhoff, Josephine Mason, Susan Fenton Organizations: Siemens Energy, REUTERS, Siemens, International Chamber of Commerce, German Economy Ministry, SIEMENS, Triton, Pablo Mayo Cerqueiro, Thomson Locations: Vancouver , British Columbia, Canada, downpayments, Berlin, Frankfurt, London, Munich

Average 30-year mortgage rates remain at their highest levels since 2000, but they could start falling soon as inflation decelerates. If you're thinking about buying soon but can't stomach current mortgage rates, you might have more luck closer to the end of 2024. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. Sky high mortgage rates have pushed many hopeful buyers out of the market, slowing homebuying demand and putting downward pressure on home prices.

Persons: Fannie Mae Organizations: of Commerce, Zillow, Federal Reserve, Mortgage, Association, Sky, ARM Locations: Chevron

“We’re all a little star-struck, to be honest,” said Timothy Magner, the president of the Greater Shreveport Chamber of Commerce, who corrected himself to use the new “speaker” title to refer to Mr. Johnson. (Multiple friends and colleagues said he has a knack for impressions of politicians, which they cited as evidence of a sense of humor.) “He would tell you he’s never surprised by God’s ordinance,” she added. “And the thing about Mike is — he means that answer.”Some constituents said that they, too, were among the many Americans learning about Mr. Johnson this week. In Opelousas, in the southern slice of his district, Shawana Johnson, 43, said she heard of him for the first time through a canvassing text message on Wednesday.

Persons: “, ”, Timothy Magner, Johnson, Washington acclimates, Mary, Patricia Wray, he’s, Mike, Shawana Johnson Organizations: Greater, Greater Shreveport Chamber of Commerce Locations: Greater Shreveport, Louisiana, Opelousas

☆ The CHIPS act and IRA don't disadvantage us in anyway, says Japanese semiconductor company
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe CHIPS act and IRA don't disadvantage us in anyway, says Japanese semiconductor companyTetsuro Higashi, chairman of the board of directors at Rapidus, says the U.S. government, including the Department of Commerce, has shown the company strong support.

Organizations: Rapidus, U.S ., Department of Commerce

☆ US halts exports of most civilian firearms for 90 days
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Joshua Roberts/File Photo Acquire Licensing RightsWASHINGTON, Oct 27 (Reuters) - The U.S. has stopped issuing export licenses for most civilian firearms and ammunition for 90 days for all non-governmental users, the Commerce Department said on Friday, citing national security and foreign policy interests. The Commerce Department declined to comment beyond the posting on its website. U.S. companies that sell firearms, including Sturm Ruger & Co. (RGR.N), Smith & Wesson Brands (SWBI.O) and Vista Outdoor (VSTO.N), could be impacted by the export ban. Overseas customers include distributors and stores that sell firearms. The pause does not affect previously issued export licenses, Commerce said.

Persons: Joshua Roberts, Johanna Reeves, Reeves, Sturm, Smith, Chris Sanders, Karen Freifeld, Sandra Maler Organizations: of Commerce, REUTERS, Rights, U.S, Commerce Department, Dola, Export, Sturm Ruger, Co, Wesson Brands, Overseas, Commerce, Thomson Locations: Washington , U.S, U.S, Washington, Ukraine, Israel

☆ Global EV battery supply chain puzzles over China graphite curbs
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +6 min

Graphite powder, used for battery paste, is pictured in a Volkswagen pilot line for battery cell production in Salzgitter, Germany, May 18, 2022. China dominates the global EV battery supply chain including production of graphite - the single largest component. Graphite companies in the country process both the natural material mined domestically and overseas, as well as synthetic forms. Under the new rules, China will require export permits starting Dec. 1 for high-end synthetic graphite, as well as key forms of natural graphite. NATURAL GRAPHITE HITGlobal companies using natural graphite include Hitachi Chemical, part of Japan's Resonac Holdings Corp (4004.T), South Korea's POSCO Future M (003670.KS) and Japan's Mitsubishi Chemical, which produces natural graphite at two plants in China, according to research firm CRU Group.

Persons: Fabian Bimmer, Sunit Kapur, Zhang Yan, Siyi Liu, Brenda Goh, Satoshi Sugiyama, Heekyong Yang, Seoul ， Paul Lienert, Jing Xu, Dominique Patton, Tony Munroe, David Evans Organizations: Volkswagen, REUTERS, Rights, EV, Qingdao, Reuters, China's Ministry of Commerce, Gotion High Tech, BTR, Material Technology, Hitachi Chemical, Japan's Resonac Holdings Corp, Mitsubishi Chemical, CRU Group, Mitsubishi, Resources, Materials, Thomson Locations: Salzgitter, Germany, Beijing, China, Japan, South Korea, United States, U.S, Shanghai, Ningbo Shanshan, Indonesia, Finland, Japan's, Australia, Mozambique, U.S ., Louisiana, North Carolina, Toyko, Seoul ，, Detroit

☆ Crime spree? Retailers are actually overstating the extent of theft, report says
▼ + stars: | 2023-10-27 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

But some retail analysts and researchers, bolstered by local crime statistics, say stores may be over-stating the extent and impact of theft. Mentions of “organized retail crime” on companies’ earnings calls increased 43% from January through August from a year ago, the Chamber of Commerce found. Cities and states are passing new laws with harsher punishments for organized retail crime offenses and shoplifting. A Target spokesperson said that organized retail crime increased 50% in its stores since 2021. According to the Chamber of Commerce, 12 states have created new statutes, revised existing statutes, or created enhanced penalties for organized retail crime.

Persons: William Blair, Dylan Carden, Phillip Blee, James Kehoe, Kehoe, Alex Vitale, ”, Donald Trump, Judd Legum, Blair, “, Pew Organizations: New, New York CNN — Retailers, Retailers, “, National Retail Federation, Walgreens, Brooklyn College, Commerce, U.S . Chamber of Commerce, Republican, Costco, Chamber of Commerce, Pew Locations: New York, U.S, San Francisco, Oakland, Seattle, Portland

☆ China rushes to swap Western tech with domestic options as U.S. cracks down
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +10 min

China spent 1.4 trillion yuan ($191 billion) replacing foreign hardware and software in 2022, marking a year-on-year increase of 16.2%, according to IT research firm First New Voice. Two firms awarded the Harbin tenders were subsidiaries of China Electronics Corporation and China Electronics Technology Group Corporation - both heavily targeted by U.S. sanctions. The U.S. Department of Commerce, China Electronics Corporation and China Electronics Technology Group Corporation did not return requests for comment. Despite heavy spending on domestic substitution, however, foreign firms are still dominant suppliers for banking and telecoms database management. Non-Chinese companies held 90% of market share for banking database systems at the end of 2022, according to EqualOcean, a tech consultancy.

Persons: Tyrone Siu, Kendra Schaefer, Mo Jianlei, Eric Zheng, Brenda Goh, Katerina Ang Organizations: REUTERS, Companies Beijing, Reuters, New, Trivium China, Liberation Army, Tech, Chinese Academy of Sciences, BMC, U.S, Cyberspace Security, China Telecommunications Corporation, Qualcomm, U.S . Treasury, Google, Apple, China Electronics Corporation, China Electronics Technology Group Corporation, Microsoft, Adobe, China Tobacco, Microsoft Windows, Chinese Academy of Engineering, European Union Chamber of Commerce, of Commerce, Shanghai, U.S . Department of Commerce, HUAWEI, Huawei, IDC, Financial, Lenovo, HK, Beijing, Thomson Locations: Dongguan, Guangdong province, China, BEIJING, Washington, State, Beijing, Gansu province, Harbin, Xiamen, U.S, American, Shanghai

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