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☆ UN chief raises concerns with Russia about Ukraine grain deal
▼ + stars: | 2023-04-14 | by ( Michelle Nichols | ) www.reuters.com time to read: +3 min

The United Nations has said no ships were inspected on Tuesday under the deal - agreed in July last year - "as the parties needed more time to reach an agreement on operational priorities." The deal saw a resumption of Ukraine's Black Sea grain exports, which had been halted by Russia's Feb. 24, 2022, invasion. All ships are inspected by officials from Russia, Ukraine, Turkey and the United Nations in waters near Turkey on the way in and out of Ukraine. The United Nations said there are dozens of ships waiting to be inspected before they travel to Ukraine. Last month, Russia agreed to renew the grain export deal for at least 60 days, half the intended period, and Moscow has said it would only consider a further extension if several demands in relation to its own exports were met.

☆ Russia conducts surprise inspection of Pacific Fleet
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

April 14 (Reuters) - Russia will conduct missile launches and torpedo tests as part of a surprise inspection of its Pacific naval fleet, Defence Minister Sergei Shoigu said on Friday. "The main objective of this inspection is to increase the ability of the Armed Forces to repel the aggression of a probable enemy from the direction of ocean and sea," Shoigu said on state television. "This is a common practice, it has been constantly carried out in recent years and it continues. This is about maintaining the necessary level of combat readiness of our armed forces," Peskov told a daily news briefing. In other recent military activity in the area, Russia's navy fired supersonic anti-ship missiles at a mock target in the Sea of Japan on March 28.

☆ Major drug busts suggest Russia is becoming a hub for cocaine heading to Europe
▼ + stars: | 2023-04-14 | by ( Yago Rosado | Insight Crime | ) www.businessinsider.com time to read: +5 min

The bust follows another in St. Petersburg last month and other major seizures in recent years. Police operations indicate that Ecuador is, so far, the main source country for cocaine arriving to Russia by container ship. InSight Crime analysisThe Oktyabrskaya Hotel across from the Moskovsky railway station in St. Petersburg in May 2020. St. Petersburg is the only major maritime port of entry for cocaine into the country, she added. Erdinc said that Russia played a "significant" role as a transit country for cocaine that arrives to Turkey and is then moved to other European markets.

WASHINGTON, April 13 (Reuters) - Boeing (BA.N) has stopped deliveries of some 737 MAXs as it grapples with a new supplier quality problem by Spirit AeroSystems (SPR.N) that could stretch back to 2019, the company disclosed on Thursday. The issue will likely affect a "significant" number of undelivered 737 MAX airplanes both in production and in storage, and could result in lowered 737 MAX deliveries in the near term, the company acknowledged. The company, which announced deliveries of 111 MAXs over the first quarter, had aimed to increase monthly MAX production rates from 31 to 38 by June. The FAA has closely scrutinized Boeing aircraft since two fatal plane crashes in 2018 and 2019. The FAA continues to inspect each 737 MAX and 787 aircraft before an airworthiness certificate is issued and cleared for delivery.

☆ Boeing warns of reduced 737 Max production and deliveries due to parts issue
▼ + stars: | 2023-04-13 | by ( Sara Salinas | ) www.cnbc.com time to read: +3 min

Boeing 737 Max airplanes sit parked at the company's production facility on November 18, 2020 in Renton, Washington. It said the issue affects certain 737 Max 8 planes, the company's most popular model, with customers including American Airlines and Southwest Airlines . It also affects certain 737 Max 7, the 737 8200 and P-8 planes. "We expect lower near-term 737 MAX deliveries while this required work is completed. "We're aware of the issue and working with Boeing to understand how it may impact our MAX deliveries," an American Airlines spokesman said in statement.

☆ Florida's fight over Safe Haven 'baby boxes' are part of a larger culture war over abortion
▼ + stars: | 2023-04-11 | by ( Associated Press | ) www.businessinsider.com time to read: +7 min

Safe Haven Baby Boxes let distressed moms safely and anonymously surrender unwanted newborns instead of dumping them in trash cans or worse. About 145 Safe Haven baby boxes were installed throughout nine states since 2016, and similar bills were recently approved or signed in four other states. About 145 boxes have been installed since the first in 2016, with 25 newborns surrendered through one, Safe Haven Baby Boxes says. Safe Haven Baby Boxes says the average response time is two minutes. A Safe Haven trains fire departments and hospitals on how to implement the current law.

☆ Blocked emergency exits and 'dangerous' fire hazards: Dollar General again found in violation of federal workplace safety standards
▼ + stars: | 2023-04-07 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +3 min

The exterior of a Dollar General convenience store is seen on March 16, 2023 in Austin, Texas. Dollar General has again been found in violation of federal workplace safety regulations for "willfully exposing" staff to fire hazards at a Pennsylvania store, the Department of Labor said Friday. "Dollar General Corp. has a substantial history of the same violations and hazards found at stores all around the U.S. Just last week, OSHA said Dollar General was in settlement talks with federal regulators after the retailer was labeled a "severe violator" of workplace safety rules. In fiscal 2022, which ended Feb. 3, Dollar General reported $37.84 billion in sales and a net income of $2.41 billion.

☆ Vietnam to conduct 'comprehensive inspection' of TikTok over harmful content
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

"TikTok, Facebook and YouTube are all cross-border social media with international standards. But when operating in Vietnam, the platform needs to abide by local regulations on both content and tax obligations," Do said. "This is an interdisciplinary inspection activity planned by the government and in line with Vietnam law for companies operating in Vietnam, not only TikTok," TikTok Vietnam said in an email. In a statement to Reuters, TikTok Vietnam also said it had upgraded its guidelines expected to take effect from April 24 to be more transparent about its rules and how it would enforce them. The app has nearly 50 million users in Vietnam aged 18 and above, the government said in a separate statement, citing data from a research company DataReportal.

Some senior dealmakers at China's third-largest brokerage by market value will see an even steeper cut of two-thirds to their 2022 bonuses, said one of the people. The trend has accelerated as employers cut pay and perks in response to the government's "common prosperity" rhetoric. MILDER CUTSA senior investment banker in China could earn three million to 10 million yuan ($445,000 to $1.48 million) a year in total remuneration, excluding stock incentives, industry sources have said. By way of comparison, Wall Street bonuses fell 26% last year to average $176,700, versus a record 2021, showed a report last month from New York State Comptroller Thomas DiNapoli. Besides remuneration cuts, some investment banks have asked staff to avoid displays of wealth such as by uploading photographs to social media of expensive meals or overseas trips, industry sources said.

TAIPEI, April 6 (Reuters) - Taiwan officials and defence analysts are bracing for intensifying pressure on the "median line" that has for decades helped keep the peace in the Taiwan Strait as China begins inspecting civilian shipping across the waterway. "As long as they are ships hoisting our country's flag they are all a part of our territory," he said. Taiwan's military will not allow China to "unilaterally" board Taiwanese ships, he said. A senior Taiwan official familiar with security planning said Taiwan would not allow China to board ships in the Taiwan Strait and that Taiwan's coast guard and military would jointly respond if China made a move to do so. Chinese state television broadcast live pictures of the Haixun 6 on patrol, including shaky footage of a Taiwanese coast guard ship shadowing it in the distance.

☆ China to inspect ships in Taiwan Strait, Taiwan says won't cooperate
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

BEIJING, April 6 (Reuters) - China's Fujian maritime safety administration launched a three-day special joint patrol and inspection operation in the central and northern parts of the Taiwan Strait that includes moves to board ships, it said on its WeChat account. Taiwan's Transport Ministry's Maritime and Ports Bureau said in a statement late Wednesday said it has lodged a strong protest with China about the move. Areas covered by the operation include the Pingtan Taiwan direct container route, the "small three links" passenger route, the Taiwan Strait vessel customary route, the densely navigable areas of commercial and fishing vessels, and areas with frequent illegal sand mining activities. The "small three links" passenger route refers to boat routes between Taiwan's Kinmen and Matsu islands which sit opposite China and Chinese cities. The fleet, a joint special operation with East China Sea Rescue Bureau and the East China Sea Navigation Support Center, will continue to carry out cruise inspections in the central and northern parts of the Taiwan Strait over the next two days.

☆ China probes ex-chairman of Everbright for 'disciplinary violations'
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: 1 min

SINGAPORE, April 5 (Reuters) - China's anti-graft watchdog said on Wednesday it is investigating Li Xiaopeng, the ex-chairman of state-owned financial conglomerate China Everbright Group, for serious "disciplinary violations". The one-line statement was posted on the website of the Central Commission for Discipline Inspection (CCDI) and comes less than two weeks after Everbright said Li had resigned from his post. Reuters could not reach the company for comment as it was closed for a public holiday. Reporting by Chen Aizhu and Jenny Wang; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ China is waging a war on its financial industry. Some high-profile bankers are ensnared
▼ + stars: | 2023-04-05 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Last Friday, authorities opened a similar probe into Liu Liange, former chairman of state-owned Bank of China, the country’s fourth largest lender. And in January, Wang Bin, who headed state-owned China Life Insurance from 2018 to early 2022, was charged by national prosecutors with taking bribes and hiding overseas savings. They include financial giants such as China Investment Corp, the nation’s sovereign wealth fund, China Development Bank, which provides financing for key government projects, and Agricultural Bank of China, another large state-controlled lender. “The current financial crackdown is a new wave of Xi Jinping’s anti-corruption campaign against the financial sector for consolidation of his power,” said Chongyi Feng, an associate professor in China Studies at the University of Technology Sydney. But the deepening crackdown on the vast financial sector could rattle investors.

☆ Zillow's chief economist explains why the party is over for short-term real-estate investing tactics like house-flipping — and says long-term strategies designed to generate cash flow are an investor'
▼ + stars: | 2023-04-04 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

You know, long run mortgage rates are expected to be around five-and-a-half, six." Economists at other real-estate firms share similar views to Olsen's in respect to mortgage rates, at least for the rest of 2023. Plus, when mortgage rates eventually fall, one can refinance into a lower rate, improving an investor's positive cash flow. In the meantime, there's a way that buyers can get around high mortgage rates, Olsen said. Many sellers are offering concessions, like paying for repairs and helping pay for a rate buydown.

☆ China Renaissance suspends trading, delays results after founder Bao Fan goes missing
▼ + stars: | 2023-04-03 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Bao Fan, 52, started the boutique investment bank in 2005 and has been unreachable since the middle of February, according to the company. Shares in China Renaissance have plunged since Bao went missing, at one point dropping as much as 50%. China Renaissance said in late February that it had learned Bao was “cooperating in an investigation” being carried out by certain authorities in the country. Chinese media have reported Bao might be assisting in an investigation related to a former executive at China Renaissance. In a filing on Sunday, China Renaissance said auditors couldn’t complete their work or sign off on their report because of Bao’s absence.

☆ Robots are getting good at dribbling soccer balls, new video from MIT shows
▼ + stars: | 2023-04-03 | by ( Grace Mayer | ) www.businessinsider.com time to read: +3 min

Researchers from MIT designed "DribbleBot," a robot that dribbles a soccer ball just like humans. Researchers from MIT's Improbable Artificial Intelligence Laboratory designed the robotic system, which can dribble a soccer ball across a range of surfaces. We need the machines to go over terrains that aren't flat, and wheeled robots can't traverse those landscapes." Four-legged robots designed by other companies, including Boston Dynamics, Ghost Robotics, and Anybotics, are also putting their robot-iterations to work, such as performing equipment inspection checks at companies. But advancements like MIT's show there's still progress being made toward the dream of competitive soccer robots.

☆ Tesla shares drop after deliveries report raises investor concern that more price cuts are coming
▼ + stars: | 2023-04-03 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Tesla shares fell more than 7% on Monday after the company's quarterly deliveries report led some investors to worry that more price cuts will be needed to drive sales, eating into margins. The record numbers represented 4% growth in deliveries from the prior period and followed repeated price cuts in the U.S., China and Europe. Sacconaghi said, "The key question for investors is what might margins be, amid significant price cuts but improving commodity costs?" According to FactSet, analyst were expecting Tesla to report deliveries of around 432,000 vehicles for the quarter. He wrote that "incremental price cuts likely needed," especially as the company ramps up production at new factories in Austin, Texas, and outside of Berlin.

☆ Boeing just sold hundreds of Dreamliners — now it just needs to figure out how to consistently deliver them
▼ + stars: | 2023-04-01 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

This is not the first time Boeing has had to stop 787 deliveries. Despite the latest pause, Boeing said it didn't "anticipate a change to our production and delivery outlook for the year." Henry Harteveldt, travel analyst and president of Atmosphere Research Group, told Insider the Boeing 787 is favorable due to its fuel efficiency, versatility, and passenger comfort. Boeing told Insider it will "continue to produce at a slow rate as we increase back to five per month." "In the case of the 787, you've got components coming in from many countries around the world," he told Insider.

In the world of railroading, keeping the trains moving is paramount, and Norfolk Southern Corp. has little tolerance for late departures. Supervisors can be penalized for trains that are ready to leave but instead sit in rail yards, according to current and former employees of the Atlanta-based railroad. Train inspection time frames are tight. Employees who seek more-stringent reviews of rail equipment or slow down transport can face discipline.

☆ Factbox: The Japanese chipmaking equipment manufacturers navigating export curbs
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +4 min

Here are some of Japan's leading manufacturers of tools used to make semiconductors. In October-December, its chip equipment sales in China fell 22.3% from a year earlier to 102.7 billion yen, accounting for 22.4% of its total chip equipment sales in the quarter. SCREEN HOLDINGS CO LTD (7735.T)Screen is the world's largest manufacturer of equipment used to clean silicon wafers. The company expects shipments to China to make up 20% of chipmaking equipment sales of 375 billion yen for the year to March. About 40% of sales from its lithography machines business, which combines semiconductor lithography and flat panel display lithography equipment, is generated in China.

☆ Evangelicals say Ron DeSantis is threatening religious liberty with his support for a bill that criminalizes aid for immigrants
▼ + stars: | 2023-03-31 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +4 min

A group of Florida evangelicals on Thursday criticized a bill that criminalizes the transport of migrants. Ron DeSantis and Florida Republicans to make it a felony to knowingly transport an undocumented immigrant, calling it a potentially dangerous infringement on religious liberty. Violators could be charged with a second-degree felony under the bill, which in Florida is punishable by up to 15 years in prison. Another church leader suggested DeSantis and other Republicans were playing politics — but confusing evangelical support for the rule of law with backing for punitive measures targeting vulnerable immigrants. It's not the first time religious leaders have clashed with DeSantis, who has styled himself a warrior for the Christian faith.

☆ Florida insiders react with shock, amusement, and dread after Disney outmaneuvers DeSantis to keep most of its power
▼ + stars: | 2023-03-31 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +9 min

It appears Walt Disney World won't be losing power over its land after all — at least not yet — following a high-profile battle with Republican Gov. "It was a pretty brilliant move by the outgoing board to basically take all the power away," one Florida-based lobbyist, who spoke on condition of anonymity, told Insider. Ron DeSantis got married at Disney World in 2009. Aubrey Jewett, a political science professor at the University of Central Florida who co-authored the book "Politics in Florida," told Insider. The company told Insider in a statement that it was "discussed and approved in open, noticed public forums."

☆ A less obvious area in A.I. could be an $11 billion opportunity, Bernstein says — and names 4 stocks
▼ + stars: | 2023-03-30 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Goldman Sachs estimates that generative AI in particular will drive almost $7 trillion in global economic growth over the next decade, with a total addressable market (TAM) of $150 billion. Nvidia is another top pick on Wall Street, with the chipmaker seen as the "grand marshal" of the AI parade . Bernstein, for one, said it believes the world is witnessing an "exciting inflection" of AI adoption in manufacturing. Stock picks In a note on March 28, Bernstein analyst Jay Huang named a raft of stock picks with "outperform" ratings to ride the AI opportunity in manufacturing, including Japanese electronics firm Keyence . The bank identified three areas in which AI is utilized in in the manufacturing process: industrial machine vision, robot guiding and industrial software.

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