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☆ EU to challenge U.S. and China strategically on trade, competition chief says
▼ + stars: | 2024-06-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Executive Vice President of the European Commission for A Europe Fit for the Digital Age Margrethe Vestager talks to media in the Berlaymont, the EU Commission headquarter on May 23, 2024 in Brussels, Belgium. The European Union may be no economic match for its U.S. and China trade partners, but it can seek to contend with them strategically, the bloc's competition chief said Tuesday. Margrethe Vestager told CNBC that the EU had become "much better" at defending itself against unfair trade practices, and that it would continue to find novel ways of competing equitably with its economic partners. "The point is to realise we can never outspend China or the U.S.," Vestager told Silvia Amaro in Brussels. It follows similar measures by the U.S. last month, the latest phase in a growing trade tensions between the two economic powerhouses.

Persons: Margrethe Vestager, Vestager, Silvia Amaro Organizations: European Commission, European, CNBC, EU, EV, U.S Locations: Brussels, Belgium, China

☆ Saudi Arabia is seeking billions in Chinese investment for Neom. But it comes with a massive risk.
▼ + stars: | 2024-06-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +7 min

Read previewAt a recent exhibition in Hong Kong, Saudi Arabia showcased its futuristic vision for its planned Neom megacity. It was part of Saudi Arabia's drive to secure billions in new investment for the project, which is the centerpiece of Saudi ruler Mohammed bin Salman's Vision 2030 strategy. China sees Saudi Arabia as not just a business opportunity but a way of undercutting the influence of its longtime Saudi ally, the US. AdvertisementIn April, Saudi Arabia's Public Investment Fund-subsidiary Alat signed a deal with Dahua Technology, one of China's most important surveillance technology firms. "The main risk today to Saudi Arabia's tech cooperation with China is the growing China-US tech war.

Persons: —, Mohammed bin Salman's, Xi Jinping, Mohammed bin Salman Al Saud, Yue Yuewei, Leonard Chan, Robert Mogielnicki, Abdullah Al, Crown Prince Mohammed, Alat, GREG BAKER, Camille Lons, Neom that's, Saudi Arabian Crown Prince Mohammed bin Salman, Saudi Arabia's, Biden Organizations: Service, Business, Saudi, Saudi Crown Prince, Getty, Hong Kong Innovative Technology Development Association, Gulf States Institute, Crown, Public Investment Fund, Dahua Technology, US, European Council, Foreign Relations, Saudi Arabian Crown, New York Times Locations: Hong Kong, Saudi Arabia, Saudi, Riyadh, Xinhua, China, Washington, Neom, Riyadh Tower, Beijing, Israel

☆ These top ETFs and funds are beating the S&P 500 — and analysts still see further upside
▼ + stars: | 2024-06-12 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

The first half of the year has generally been good for the market, with the S & P 500 and the Nasdaq repeatedly reaching record highs. Year-to-date, the S & P 500 is up around 13% and the Nasdaq has risen 14.9%. Against that uncertain backdrop, investors might be looking at exchange-traded funds or mutual funds to diversify their investments. Morningstar provided the list of top-performing funds, which all beat the S & P 500. Using FactSet, that list was screened for funds that analysts give 10% or more upside, and that at least half give a buy rating.

Persons: Thomas Poullaouec, Rowe Price, Ed Clissold, Ned Davis, Morningstar, Richard Bernstein Organizations: Nasdaq, U.S . Federal Reserve, Ned, Ned Davis Research, CNBC Pro, Copper Miners, X Copper Miners, Industrial, Richard Bernstein Advisors Locations: Asia, Pacific, U.S, Turkey

☆ U.S. Adds Tariffs to Shield Struggling Solar Industry
▼ + stars: | 2024-06-06 | by ( Ana Swanson | Alan Rappeport | ) www.nytimes.com time to read: +1 min

Tariffs aimed at protecting America’s solar industry from foreign competition snapped back into place on Thursday, ending a two-year pause that President Biden approved as part of his effort to jump-start solar adoption in the U.S. The tariffs, which will apply to certain solar products made by Chinese companies in Southeast Asia, kicked in at a moment of growing global concern about a surge of cheap Chinese solar products that are undercutting U.S. and European manufacturers. The Biden administration has been trying to build up America’s solar industry by offering tax credits, and companies have announced more than 30 new U.S. manufacturing investments in the past year. But U.S. solar companies say they are still struggling to survive as competitors in China and Southeast Asia flood the global market with solar panels that are being sold at prices far below what American firms need to charge to stay in business. That has forced President Biden to make an uncomfortable choice: Continue welcoming inexpensive imports that are helping the United States transition away from fossil fuels, or block them to protect new U.S. solar factories that are benefiting from taxpayer money.

Persons: Biden Organizations: U.S Locations: Southeast Asia, U.S, China, United States

☆ Sam Altman's OpenAI is paying publishers big money for content. That could be a lifeline — or blow up in their faces.
▼ + stars: | 2024-06-05 | by ( Peter Kafka | ) www.businessinsider.com time to read: +8 min

You've heard this one before: A big tech company is offering a lifeline to distressed media companies. That's the argument against a slew of deals publishers have been making with Sam Altman's OpenAI over the past few months. But the OpenAI deals, the publishers emphasize, are straightforward licensing deals for stuff they're already making. AdvertisementWhich means — they say — at the end of these deals, publishers won't have to regret investing in another defunct Big Tech project. But the thing I'm most worried about as someone who makes words for a living isn't a replay of the old Facebook/Apple/Google deals publishers now regret.

Persons: You've, It's, Sam Altman's OpenAI, Axel Springer, Rupert, Barry Diller's Dotdash Meredith, Laurene Powell, haven't, OpenAI, it's, Jessica Lessin, Lucy, Charlie Brown, —, Let's, Bob Iger, ChatGPT, that's Organizations: Service, Vox Media, Rupert Murdoch's News Corp, Laurene Powell Jobs, Atlantic Media, Apple, Google, Facebook, The New York Times, Big Tech, New York Times, Microsoft, Netflix, ABC, Disney

☆ ‘It’s putting patients’ lives in danger’: Nurses say ransomware attack is stressing hospital operations
▼ + stars: | 2024-05-29 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +9 min

“It’s putting patients’ lives in danger,” said a nurse who works at Ascension Providence Rochester Hospital, a 290-bed facility about 25 miles north of downtown Detroit. The health care sector reported 249 ransomware attacks to the FBI last year, more than any other sector, with some cases affecting patient records. And, perhaps more than any other sector, health care firms hold an enormous volume of sensitive data that is ripe for targeting and extortion schemes. The hack cut off health care providers from billions of dollars of revenue and snarled service at pharmacies across the US. (She said her firm had no specific insights into the Change Healthcare or Ascension ransomware attacks.)

Persons: cyberattack, “, ”, cybercriminals, Mac Walker, Walker, ” Walker, Ascension’s, Ascension, Dina Carlisle, “ There’s, Andrew, ” Sezaneh Seymour, ” Bryan Vorndran, Vorndran Organizations: CNN, Ascension Providence Rochester Hospital, “, FBI, Biden, White House, Department of Health, Services, OPEIU, University of Minnesota School of Public Health, Change Healthcare, UnitedHealth, Healthcare Locations: Detroit, Birmingham , Alabama, St, Louis, Rochester , Michigan, ” OPEIU

☆ Why OpenAI should fear a Scarlett Johansson lawsuit
▼ + stars: | 2024-05-22 | by ( Brian Fung | ) edition.cnn.com time to read: +11 min

“It doesn’t matter if OpenAI used any of Scarlett Johansson’s actual voice samples,” Li posted on Threads. Here, Johansson could accuse OpenAI of illegally monetizing who she is by essentially fooling users into thinking she had voiced Sky. But there’s substantial case law — and one very inconvenient fact for OpenAI — undercutting that defense, legal experts say. According to Johansson, OpenAI approached her to perform as Sky; Johansson declined. While California’s publicity law protects all individuals, some state statutes only protect famous people, and not all states have such legislation on the books.

Persons: Will Scarlett Johansson, OpenAI, Johansson, OpenAI’s, Sam Altman, OpenAI didn’t, demoed, Tiffany Li, Scarlett Johansson’s, ” Li, monetizing, John Bergmayer, “, ”, —, Bette Midler, Midler, Tom Waits, Waits, …, James Grimmelmann, Scarlett Johansson ”, Altman, Sky’s, Johansson ”, Samantha, ‘, ” Grimmelmann, Joel Saget, ” Bergmayer, Dana Rao, Adobe’s, we’re, Jennifer Rothman, ” Rothman Organizations: Washington CNN, University of San, Public, Ford Motor Company, Appeals, Circuit, Frito, Cornell University, Getty, Adobe, FAIR, University of Pennsylvania Locations: University of San Francisco, California, Midler’s, Paris, AFP

☆ Rollback in IRA's EV incentives would benefit China, says GM board member
▼ + stars: | 2024-05-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Any significant reduction or a rollback of the Inflation Reduction Act's support for electric vehicles would benefit China, according to General Motors board member Jon McNeill. "I think we risk losing the auto manufacturing share to China. The IRA of 2022 includes incentives for consumers to purchase EVs as well as significant support for carmakers and suppliers to produce all-electric vehicles and their components in North America rather than overseas. The expansion of Chinese automakers has been a growing concern for companies from Detroit to Germany. Global automakers are worried that BYD and other Chinese rivals could flood their markets, undercutting domestic production and vehicle prices.

Persons: Jon McNeill, McNeill, Donald Trump Organizations: General Motors, DVx Ventures, CNBC, Global, Biden Locations: China, North America, Detroit, Germany

President Biden came out swinging this week when he announced a series of steep tariffs on Chinese imports, including 25 percent on certain steel and aluminum products, 50 percent on semiconductors and solar panels and 100 percent on electric vehicles. The administration’s official reason for the policy is simple: Chinese imports are undercutting American manufacturers in swing states like Michigan, Wisconsin and Pennsylvania. And Mr. Biden wants to protect them from competition, as he pours huge amounts of government money into building up the manufacturing of electric vehicles and solar panels that can eventually compete with China’s inexpensive offerings. But the truth is, these new tariffs on electric vehicles are little more than a handout to legacy car companies like General Motors and Ford. With more cash and better credit, wealthy Americans are the only ones who can afford the electric vehicles currently on the market, which cost over $55,000 on average.

Persons: Biden, aren’t Organizations: General Motors, Ford Locations: American, Michigan , Wisconsin, Pennsylvania, United States, U.S

☆ Stellantis to rapidly grow exports of Chinese EVs to Europe, other countries
▼ + stars: | 2024-05-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

That's due, in part, to new American tariffs on China-made EVs, Tavares said, citing among other reasons as well. The Biden administration on Tuesday announced stiff new tariff rates on billions' worth of Chinese imports, including quadrupling tariffs on imported Chinese electric vehicles, from 25% to 100%. The joint venture's expansion plans include at least six EVs by 2027, according to a presentation by Stellantis and Leapmotor. The announcement comes amid increasing geopolitical tensions surrounding China-made electric vehicles in the U.S., Europe and other regions. Many in and around the automotive industry fear the less-expensive, China-made vehicles will flood the markets, undercutting domestic-produced EVs.

Persons: Carlos Tavares, Zhu Jiangming, EVs, Tavares, Biden, " Tavares, Stellantis Organizations: Stellantis, Leapmotor, Europe —, Asia Pacific Locations: China, Europe, Europe — France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece, Romania, East, Africa, India, Asia, South America, U.S, Hangzhou

☆ House GOP embroiled in escalating primary feuds with majority on line
▼ + stars: | 2024-05-05 | by ( Manu Raju | Melanie Zanona | ) edition.cnn.com time to read: +10 min

For more on House Republican primary infighting, watch “Inside Politics with Manu Raju” on Sunday at 8 a.m. Washington CNN —GOP Rep. Don Bacon has had it with the far-right of his conference. Now McCarthy allies in the House GOP Conference are considering giving a boost to Aaron Dimmock, the retired Navy officer facing off against Gaetz in the August 20 primary. And while the outcomes in most of these primary races won’t impact the GOP’s efforts to keep the majority, they will shape the makeup of the next House Republican Conference and how they pursue their agenda. Several of Gonzales' colleagues in the House are backing a GOP primary challenger in his race for reelection.

Persons: Manu Raju ”, Don Bacon, They’ve, Republicans —, Bob Good, “, Bob Good’s, ” Bacon, we’ve, Tony Gonzales, Matt Gaetz, Good —, Adam Morgan, William Timmons, Kevin McCarthy, John McGuire, McCarthy, Mike Johnson, Dan Newhouse, Donald Trump, MAGA, Scott Perry, Jerrod, Gaetz —, McCarthy —, Gaetz, Aaron Dimmock, Derrick Van Orden, tubby ”, Chip Roy, Samuel Corum, Trump, ”, Ralph Norman, Morgan, Timmons, Joe Biden, Sen, Tony Vargas, Bacon, Dan Frei —, Lee Terry, “ He’s, ” Frei, Frei, Eric Underwood, Underwood, Bacon doesn’t, ” Underwood, he’s, Frei mailer, it’s, Gonzales, Tom Williams, Sarah Chamberlain, McGuire, Good’s, Steve Bannon, I’ve, ” Johnson, that’s, undercutting, CNN’s Jeff Zeleny, Sheden Tesfaldet Organizations: Republican, Washington CNN, GOP, Republicans, Nebraska Republican, CNN, Congress, Caucus, Rep, Good, Washington, Trump, Freedom Caucus, House GOP Conference, Navy, Gaetz, ”, Wisconsin Republican, Capitol, Getty, House Republican Conference, Democratic, Nebraska Republican Party, Nebraska Republicans, “, mailer, Republican Main Street Partnership, Nebraska GOP Locations: Nebraska, Texas, Florida, South Carolina, Virginia, Scott Perry of Pennsylvania, Wisconsin, Washington, Ukraine

☆ ISS says unions and pension funds should back Norfolk Southern activist investor
▼ + stars: | 2024-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

Norfolk Southern Chief Executive Alan Shaw testifies during a Senate Commerce, Science and Transportation Committee hearing titled "Improving Rail Safety in Response to the East Palestine Derailment" in Washington, U.S., March 22, 2023. Norfolk Southern -invested unions and pension funds should back activist Ancora's full seven-director slate at the railroad's shareholder meeting later this month, two different Institutional Shareholder Services proxy advisory services said. Neuberger Berman said earlier that it would support Ancora's case for change at Norfolk Southern, while Canadian asset manager EdgePoint also reaffirmed on Thursday that it would be voting its shares with the activist. (EdgePoint was initially partnered with Ancora's campaign at Norfolk Southern but dissolved that arrangement months earlier.) Top institutional shareholders include Vanguard, BlackRock, State Street and Dodge & Cox, as well as California's pension funds, CalPERS and CalSTRS, and Colorado's public pension fund.

Persons: Alan Shaw, Ancora's, Taft, Jim Barber, Glass Lewis, Barber, investor's, Ancora, Neuberger Berman, EdgePoint Organizations: Norfolk Southern, Commerce, Science, Institutional, Hartley Advisory Services, Social Advisory Services, CNBC, UPS, ISS, Norfolk Southern's, Norfolk, Vanguard, Dodge, Cox Locations: East Palestine, Washington , U.S, Norfolk, East Palestine , Ohio, BlackRock

☆ Musk's visit to China was a much-needed win for both sides — and a snub to India
▼ + stars: | 2024-04-30 | by ( Meghan Morris | ) www.businessinsider.com time to read: +5 min

And Musk notably skipped a recent visit to India, underscoring how important China is for Tesla. AdvertisementElon Musk's two-day trip to Beijing looks like a mutually-beneficial win for Tesla and for China — and a snub for India. AdvertisementMusk needs China — but China also needs Musk, as a sign that the country is open for business with high-profile US companies. Musk's visit was going to include an announcement about Tesla entering India, Reuters reported. AdvertisementMusk's India visit would have been a win for Modi, who is seeking to boost India's status as a manufacturing hub, especially as businesses leave China.

Persons: Elon Musk, —, Elon Musk's, China —, Premier Li Qiang, That's, Tesla, Dan Ives, Ives, India Musk, Janet Yellen, Antony Blinken, Musk, crackdowns, Bain —, Narendra Modi, Musk's, Modi Organizations: Tesla, Service, India, Premier, Baidu, Reuters, EV, FSD, Financial Times, China, Communist Party, Gucci, Apple Locations: China, Beijing, India, Shanghai

☆ New York Vowed to Shut Down Illegal Weed Shops. It Just Licensed One.
▼ + stars: | 2024-04-26 | by ( Ashley Southall | ) www.nytimes.com time to read: +1 min

A year after New York legalized marijuana for recreational use, a bright-green sign shaped like the plant’s leaf signaled the arrival of a dispensary called Budega on an industrial corner in Queens. The sleek shop, where customers purchase memberships for points that can be redeemed for weed, is one of thousands of illegal dispensaries that the state vowed to shut down. Their owners would be banned from the legal cannabis market, officials said. The situation exposes lapses in the vetting process, undercutting New York officials’ assurances that those who jumped the line to cash in on cannabis would not be rewarded over those who played by the rules. He owns Budega NYC, a clothing and lifestyle brand whose name he intended to use for his own dispensary.

Persons: Budega, “, ”, Alex Norman Organizations: New Locations: York, Queens, New York

☆ China's Xiaomi is selling more EVs than expected, raising hopes it can break even sooner
▼ + stars: | 2024-04-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

The Xiaomi SU7 on display at the Mobile World Congress 2024. Arjun Kharpal | CNBCBEIJING — Chinese smartphone company Xiaomi 's new electric vehicle is selling better than expected, putting it closer to break-even despite undercutting Tesla 's Model 3 on price. For context, Tesla China sold more than 600,000 cars last year, according to the China Passenger Car Association. Li Auto had a gross margin of 23.5% in the fourth quarter last year, while Nio's gross margin was 7.5%, both up from the year-ago period. Tesla's gross margin has successively declined over the past five quarters to 17.4% in the first three months of this year.

Persons: Arjun Kharpal, undercutting Tesla, Xiaomi, Lei Jun, Li Auto, Nio, Lei Organizations: Mobile, CNBC BEIJING, Citi, China Passenger Car Association, Li, CNBC Locations: Beijing, China

☆ Elon Musk gave Tesla investors the one thing they've been demanding — and it worked brilliantly
▼ + stars: | 2024-04-24 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Elon Musk said Tesla will get cheaper electric vehicles out sooner. AdvertisementElon Musk dangled a long-awaited prize — cheaper Tesla models — in front of investors on Tuesday. But it was enough to calm investors, and Tesla's stock rose 13% in after-hours trading. Significant challenges and a plummeting stockWhile a promise of cheaper cars relieved investors, Tesla's troubles are far from over. Tesla's stock is down 42% year-to-date.

Persons: Elon Musk, Tesla, Tesla's, —, Elon, Musk, Jay Woods Organizations: Service, Freedom Capital Markets, Reuters, EV Locations: China, Europe

☆ The US is preparing to hit back at China's glut of cheap solar panels by targeting its allies
▼ + stars: | 2024-04-24 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

The world is awash in solar panels after Chinese-owned firms flooded the market with cheap exports. Companies including Qcells, First Solar, and Swift Solar on Wednesday asked the Biden administration to slap tariffs on solar cells from four countries in Southeast Asia. The US solar companies allege that Chinese-owned firms operating in Cambodia, Malaysia, Thailand, and Vietnam are illegally undercutting the market. The petition by US solar companies — known as an anti-dumping and countervailing duty case — could lead to that. The probe will help determine whether solar panels were sold in the US at prices below the cost of production.

Persons: Biden, we've, Tim Brightbill, Wiley Rein, Joe Biden, Janet Yellen, Yellen, Premier Li Qiang Organizations: Service, Companies, Wednesday, Business, Wiley, China, Industry, Commerce Department, US Commerce Department, International Trade Commission, Premier, New York Times Locations: Southeast Asia, Cambodia, Malaysia, Thailand, Vietnam, Germany, America, Massachusetts, China

☆ How the UAW’s win may change the South
▼ + stars: | 2024-04-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

Now, the United Auto Workers has dealt a serious blow to that model: winning a landslide union victory after decades of failing to unionize automakers in the South. It’s the UAW’s first win in trying to represent workers at a foreign car manufacturing plant in the South. Before Friday’s win, the highest profile union election held in the South in recent years was the attempt to organize Amazon warehouse workers in Alabama in 2022. Bill Lee in 2019 visited Volkswagen’s plant in Chattanooga to encourage workers to reject the union, and former South Carolina Gov. But the Volkswagen win, said UAW President Shawn Fain to CNN, shows that politics are not an insurmountable obstacle when it comes to organizing in the South.

Persons: Stephen Silvia, Southern, ” Silvia, – Tesla, Tesla, Henry McMaster, Kay Ivey, “, ”, Erica Smiley, Honda, Friday’s, you’ve, they’ve, Bill Lee, Nikki Haley, Biden —, Shawn Fain, “ Trump, ” Fain, “ I’m, George Walker IV, Harley Shaiken, Justice, CNN’s Chris Isidore Organizations: New, New York CNN, United Auto Workers, UAW, American University, Southern Gamble, Workers, Foreign, Volkswagen, Mercedes, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, –, South Carolina Gov, Alabama Gov, “ Unions, Justice, Union, Auto, South Detroit, Benz, Kia, P Global Market Intelligence, Republicans, Environmental Defense Fund, Southern, “, GOP, Tennessee Gov, Democratic, CNN, Tennessee, AP, Chattanooga won’t, University of California, Jobs Locations: New York, United States, Volkswagen’s, Chattanooga , Tennessee, Tennessee, South Carolina, North Carolina, Louisiana, Texas, Mercedes, Vance , Alabama, Alabama, Smyrna , Tennessee, Spartanburg , South Carolina, Lincoln , Alabama, Southern, South, Chattanooga, Georgia, Berkeley

☆ Trump’s extreme rhetoric is a mainstay of his 2024 campaign. Much of it could become a reality if he wins another term
▼ + stars: | 2024-04-13 | by ( Phil Mattingly | Andrew Seger | ) edition.cnn.com time to read: +12 min

His pledge to direct Justice Department investigations is backed by allies who view his second term as driven by a maximalist theory of a president’s authority. But it also underscores why a second Trump term would be dramatically different. Some in Washington saw them as guardrails for a White House intent on fracturing not one, but all three branches of government. Yet Trump, should he secure a second term, would enter the White House with his most powerful Republican critics on Capitol Hill almost all gone. That would be a position that isn’t backed by his second term policy plans, or his private impulses during his first term in office – or, for that matter, in the decades prior.

Persons: Donald Trump, –, guardrails Trump, Jack Smith, Trump, ” Trump, Biden, ”, Joe Biden, he’s, He’s, Liz Cheney, Hillary Clinton, Clinton, John Kerry, John Bolton, It’s, Paul Ryan, Mitch McConnell, Ryan, ” McConnell, Mike Johnson, “, aren’t, Trump’s, – “, Hugh Hewitt, ” “, Charlie Rose, Rose, Larry King, Erin Burnett Organizations: CNN, Republican, Department, Capitol, Democrats, Trump, White, GOP, Joint Chiefs, Staff, Democratic, Trump’s Justice, Bolton, Congressional Republicans, Wisconsin Republican, Louisiana Republican, Mar, White House, Justice Department, CNBC Locations: Washington, Wisconsin, Louisiana

☆ Opinion: The world rushes to court Trump
▼ + stars: | 2024-04-12 | by ( Opinion Frida Ghitis | ) edition.cnn.com time to read: +7 min

She is a weekly opinion contributor to CNN, a contributing columnist to The Washington Post and a columnist for World Politics Review. Now, they’re urgently working on two fronts: seeking to Trump-proof their foreign policy and defense, and hoping to minimize the potential negative impact of a Trump victory. Making matters more unusual – and far more unethical – Trump has effectively launched his own shadow foreign policy, actively undermining Biden’s – America’s – policy. Not only is the former president leveraging his control of the Republican Party to block US aid to Ukraine ‑ Trump is interfering in US foreign policy elsewhere. Interfering in US foreign policy is bad enough, but there’s also an unseemly financial angle.

Persons: Frida Ghitis, Fumio Kishida, David Cameron, Donald Trump, –, It’s, they’re, Putin, Trump, Jens Stoltenberg, Viktor Orban, ”, Orban, “, ’, Joe Biden’s, – Trump, Biden’s, Ukraine ‑ Trump, Richard Grenell, Grenell, Grennell, there’s, Jared Kushner, Aleksandar Vucic, ingratiate, Japan’s, Shinzo Abe, Ivanka Trump, —, Biden Organizations: CNN, Washington Post, Politics, Washington , D.C, British, Trump, Ukraine –, NATO, European, Trump Heritage Foundation, ”, EU, Europe –, Republican Party, Serbian Locations: Washington ,, Japan, United States, Mar, Europe, Russia, European Union, Ukraine, EU, ” Russia, “, East, Guatemala, Washington, Serbia, New York

☆ Mexican drug gangs ‘increasingly targeting’ Australia as meth supplies overtake rivals, police say
▼ + stars: | 2024-04-11 | by ( Chris Lau | ) edition.cnn.com time to read: +4 min

CNN —Drug cartels from North America have overtaken rivals in Southeast Asia to become Australia’s top suppliers of methamphetamine, police said, warning that Mexican gangs are “increasingly targeting” the country. Meanwhile, Southeast Asian meth fell to less than 15% of seizures of the drug, a highly addictive and potent stimulant. A wastewater detection program led by the Australian Criminal Intelligence Commission projected meth to be Australia’s second most used drug. In 2022, authorities stopped 1.8 tons of liquid meth masquerading as coconut water in Hong Kong before it reached Australia. They were bound for New Zealand, Australia and the surrounding Pacific region, police said.

Persons: Jared Taggart, Taggart, ”, Sam Gor, Terry Goldsworthy, Criminologist John Fitzgerald, Masood Karimipour Organizations: CNN —, Australian Federal Police, Police, ”, Australian Institute of Health, Welfare, Australian Criminal Intelligence, AFP, Bond University, Australian Capital Territory, University of Melbourne, Drugs, New Zealand police, Southeast, Pacific, United Nations Office Locations: North America, Southeast Asia, Australia, AFP, Mexico, United States, Canada, ” Australia, Thailand, Laos, Myanmar, Japan , New Zealand, Hong Kong, Asia, Pacific, Queensland, American, Europe, Ukraine, New Zealand

☆ EU's von der Leyen echoes Yellen's calls for tough stance on Chinese overcapacity
▼ + stars: | 2024-04-09 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

European Commission President Ursula von der Leyen speaks during a press conference, Nurphoto | Getty ImagesEuropean Commission chief Ursula von der Leyen on Tuesday said that Europe must talk tough with China on its perceived unfair trade practices, echoing calls a day earlier from U.S. Treasury Secretary Janet Yellen. Speaking ahead of German Chancellor Olaf Scholz's trip to Beijing later this week, von der Leyen said European companies should have the same market access in China as Chinese firms have in Europe, according to comments cited by Reuters. She also urged the German leader to take a hard stance with Chinese authorities about overcapacity and unfair competitive practices. Chinese overcapacity concernsChinese overcapacity has become a major point of diplomatic tension, with the U.S. and its allies contesting that excess production and subsidized goods from China are undercutting domestic businesses. It also contests that the U.S. — through initiatives such as the Inflation Reduction Act — is subsidizing its own manufacturing industry.

Persons: Ursula von der Leyen, Janet Yellen, Olaf Scholz's, von der Leyen, Yellen, CNBC's Sara Eisen, Commerce Wang Wentao Organizations: Getty, European Commission, Treasury, Reuters, Monday, CNBC, U.S, China's, Commerce Locations: Europe, China, U.S, Beijing

☆ A Chinese smartphone maker is breaking into EVs and challenging Tesla. How the stock rates now.
▼ + stars: | 2024-04-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Just as the auto industry was grappling with BYD 's rapid rise, Chinese smartphone company Xiaomi has burst into the market — undercutting Tesla and vowing to become a global player. Meanwhile, Tesla last week revealed that its deliveries fell in the first quarter from a year ago . While he still likes Tesla longer-term , he and his team will hold a client webinar on Xiaomi, Tesla and global EVs on Tuesday. Xiaomi shares nearly reached that price during last week's surge. Meanwhile, Tesla shares are down 34% year to date.

Persons: BYD, Tesla, Lei Jun, Xiaomi, Morgan Stanley, Adam Jonas, Jonas, Morgan, Andy Meng, Meng, Taylor Ogan, Lei, Ogan, BEV, Nick Lai, Gokul Hariharan, Janet Yellen, overcapacity Organizations: Apple, Hong, Snow Bull, EV, JPMorgan, Treasury Locations: Hong Kong, China, Shenzhen, U.S

☆ RFK Jr. raises possibility that January 6 wasn’t a ‘true insurrection,’ suggests ‘political objectives’ are motivating prosecutions
▼ + stars: | 2024-04-05 | by ( Aaron Pellish | Marshall Cohen | ) edition.cnn.com time to read: +6 min

“That would fit a disturbing pattern of the weaponization of government agencies — the DoJ, the IRS, the SEC, the FBI, etc. In the statement, Kennedy pledged to name an independent special counsel to investigate “whether prosecutorial discretion was abused for political ends” in January 6 cases. Without the impartial rule of law, there is no true democracy or moral governance,” Kennedy said. “(Trump) overthrowing — trying to overthrow the election clearly is threat to democracy,” Kennedy said in a CNN interview on Monday. “But the question was, who is a worse threat to democracy?

Persons: Robert F, Kennedy Jr, President Trump, ”, “, Kennedy, ” Kennedy, Donald Trump, Undercutting Kennedy’s, Trump, Trump’s, —, Joe Biden’s, stokes, Matt Corridoni, Stefanie Spear, CNN’s Erin Burnett, Biden, I’m, Erin Organizations: CNN, Independent, Capitol, Trump, J6, DoJ, IRS, SEC, FBI, Justice Department, Democratic National Committee, RFK Jr

☆ CIA refutes whistleblower claim pushed by Republicans leading Biden impeachment inquiry
▼ + stars: | 2024-04-05 | by ( Annie Grayer | ) edition.cnn.com time to read: +3 min

CNN —House Republicans leading the impeachment inquiry into President Joe Biden were dealt their latest blow this week when the CIA informed them that an allegation they pushed was false, the latest example of House Republicans citing questionable information to make a serious claim. But the CIA has refuted that claim in a letter obtained first by CNN that was sent to Jordan and Comer. House Republicans are pushing back on the refutation. “I’ve made a document production in conjunction with the grand jury investigation,” Morris testified in his closed-door interview with Republicans conducting the inquiry in January. Republicans have raised questions about why Morris lent the president’s son millions of dollars and have sought to connect him to their impeachment inquiry into President Biden.

Persons: Joe Biden, Hunter Biden’s, undercutting, James Comer, Jim Jordan, Hunter Biden, Comer, Congressional Affairs James A, Catella, Russell Dye, Jamie Raskin, ” Raskin, Kevin Morris, Hunter, Morris, “ I’ve, ” Morris, “, ”, Biden, Gary Shapley, CNN’s Paula Reid Organizations: CNN — House Republicans, CIA, Republican, Department of Justice, FBI, IRS, CNN, “, Congressional Affairs, Republicans, Democrat Locations: Jordan, Delaware

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