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"This battle is not about the president," Fain said. Treasury Secretary Janet Yellen told CNBC in an interview Monday that the White House wants a "win-win" deal. Nearly 13,000 UAW members are on strike at three key plants in Michigan, Missouri and Ohio. Former President Donald Trump is also courting support from UAW members, while attacking the union's leaders, as he pursues another term in the White House. The UAW president said the union's members are prepared to escalate: "If the companies don't respond to the members' demands then we have to do what we have to do."
Persons: Shawn Fain, Bill Pugliano, Monday, Fain, Joe Biden, Julie Su, Gene Sperling, Janet Yellen, White, Yellen, Biden, who's, Donald Trump, Jim Farley Organizations: United Auto Workers, Sterling Heights Assembly, UAW, Ford, General Motors, Getty, Labor, White House, CNBC, MSNBC Locations: Sterling Heights, Sterling Heights , Michigan, Stellantis, Detroit, Michigan , Missouri, Ohio
In this article STLAGMF Follow your favorite stocks CREATE FREE ACCOUNTwatch nowDETROIT — The United Auto Workers strike is bringing a blue-collar versus billionaire battle to the Motor City, just as UAW President Shawn Fain wanted. Fain, a quirky yet emboldened leader, has meticulously brought the UAW back into the national spotlight after decades of near irrelevance. He wants to represent not just union members but also America's embattled middle class, which UAW helped create. United Auto Workers union President Shawn Fain joins UAW members who are on a strike, on the picket line at the Ford Michigan Assembly Plant in Wayne, Michigan, September 15, 2023. Such profits are exactly what Fain has said UAW members deserve to share in.
Persons: Shawn Fain, Fain, Rebecca Cook, Joe Biden, Biden, We've, Ford, Jim Farley, CNBC's Phil LeBeau, he's, Mary Barra, Stellantis, bargainers, Sen, Bernie Sanders, Sanders, Bob King, I've, it's, Anthony Dobbins, Dobbins, That's, Michael Wayland, Farley, Barra Organizations: DETROIT, United Auto Workers, Motor, UAW, Ford Michigan Assembly Plant, Reuters, Ford Bronco, UAW GM, Chrysler, National, General Motors, Ford Motor, Plant, Michigan Assembly Plant's, National Labor Relations Board, GM, Ford, CNBC, Democratic, UAW Local Locations: Motor City, irrelevance, Wayne , Michigan, Ford, Michigan, Vermont
DAJABON, Dominican Republic (AP) — The president of the Dominican Republic announced Thursday that he would close all borders with neighboring Haiti starting Friday despite a flurry of last-minute meetings to prevent him from taking such action. Those who live in Haiti but work in the Dominican Republic also cross the border daily. Jorge Duany, an anthropology professor at Florida International University who has studied Caribbean nationalism and migration, said tensions between Haiti and the Dominican Republic flare every so often amid simmering resentment. On Wednesday, Haiti’s Ministry of Foreign Affairs said it was meeting with Dominican officials in the Dominican Republic to talk about the situation. He said one of his young daughters is sick and he needs to take her to the hospital, adding that he doesn’t mind risking not being able to return despite having a job at a banana farm in the Dominican Republic.
Persons: DAJABON, Luis Abinader, , Pichelo Petijon, Abinader, Jorge Duany, Ariel Henry, ___ Coto Organizations: Dominican Republic, Haiti, Florida International University, Haitian, Haiti’s Ministry of Foreign Affairs, Dominican Locations: Dominican Republic, Dominican, Hispaniola, Dajabon, Haiti, Caribbean, San Juan , Puerto Rico
A worker switches on a fuel pump before filling a car with diesel at a fuel station in New Delhi September 13, 2012. REUTERS/Mansi Thapliyal/File photo Acquire Licensing RightsNEW DELHI, Sept 12 (Reuters) - India's road transport minister, Nitin Gadkari, on Tuesday said he will propose an additional 10% tax on diesel vehicles and warned automakers of even higher levies to cripple their ability to sell such high-polluting vehicles. Gadkari said he will later in the day ask the finance minister for an "additional 10%" goods and services tax on diesel vehicles to tackle problems related to pollution. The Indian government currently imposes a 28% tax on diesel cars and an additional so-called "cess" is levied depending on the vehicles' engine capacity. Shares in Indian automakers Tata Motors, Mahindra and Mahindra, Ashok Leyland (ASOK.NS), and Eicher Motors (EICH.NS) fell between 1.5% and 4.5%.
Persons: Mansi, Nitin Gadkari, Gadkari, Maruti Suzuki, Ashok Leyland, Aditi Shah, Tanvi Mehta, Christian Schmollinger, Tom Hogue Organizations: REUTERS, New, Tata Motors, Mahindra, Maruti, Volkswagen, automakers Tata Motors, Eicher Motors, Thomson Locations: New Delhi, DELHI, India
Biden's Labor Day prediction that the union would not strike against Detroit's automakers ahead of a Sept. 14 contract deadline was soundly rejected by UAW President Shawn Fain. White House Press Secretary Karine Jean-Pierre said Biden's comments about the UAW over Labor Day was him being "an optimistic person." The White House has tried to play a role in several recent large-scale union contract negotiations involving rail workers and West Coast port workers. Trump won Michigan in 2016, helping propel him to the White House; Biden beat him by 154,000 votes in Michigan in 2020. Around half a million more threatened strikes in the first half of 2023, estimates from national labor unions show.
Persons: Joe Biden's, Biden, Biden's, Shawn Fain, Fain, Karine Jean, Pierre, Kate Bronfenbrenner, Donald Trump, Trump, Joe Biden, Joshua Roberts, Harley Shaiken, Shaiken, Nandita Bose, David Shepardson, Joseph White, Heather Timmons, Deepa Babington Organizations: UAW, Biden's Labor, Detroit's, House Press, Labor, General Motors, Ford, carmakers, Anderson Economic, Cornell University's School of Industry & Labor Relations, White House, Wednesday, Workers, Republican, Michigan, State Labor, Metal Workers, Local, REUTERS, University of California, Bureau of Labor Statistics, EV, White, Energy Department, Teamsters, UPS, House, Thomson Locations: Detroit, America, Pennsylvania, Michigan, West Coast, Philadelphia , Pennsylvania, U.S, Berkeley, Michigan , Ohio , Indiana , Illinois, Belvidere , Illinois, Washington
CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Low Earth orbit satellite constellations are all the rage, but up to this point they've been the prospective domain of commercial entities. SDA is about to launch the second mission of its constellation known as the "Proliferated Warfighter Space Architecture," or PWSA. The Transport satellites in Tranche 0 cost about $15 million each, according to Jennifer Elzea, the agency's chief of strategic engagement. Investing in Space programming note: I will be out next week, but back the following for the World Satellite Business Week conference in Paris!
Persons: Lockheed Martin's, CNBC's Michael Sheetz, Lockheed Martin, Chris Winslett, Winslett, Jennifer Elzea, Elzea, It's, Mike Eppolito, we'll, Eppolito Organizations: Lockheed, Space Development Agency, U.S . Space Force, Transport, Pentagon, SpaceX, Space Force, Command, PWSA, World Locations: tranches, York, Paris
One of those cases, a civil trial in New York, threatens to cripple the former president's company, the Trump Organization . James is seeking $250 million in damages in the civil case. In July, the U.S. Department of Justice dropped a nearly three-year effort to protect Trump from civil liability in the suit. In May, three of Trump's children, Donald Trump Jr., Eric Trump, and Ivanka Trump, were dismissed as defendants from the case after Kaplan proposed that move. The payments were made shortly before the 2016 presidential election, in which Trump defeated Democratic nominee Hillary Clinton.
Persons: Donald Trump, Trump, Joe, Letitia James, Donald Trump Jr, Eric Trump, James, Kenneth Chesebro, Joe Biden, Trump's, Mark Meadows, Rudy Giuliani, Fani Willis, Willis, Sidney Powell, Jean Carroll, Carroll, Judge Lewis Kaplan, videophone, Roberta Kaplan, Ivanka Trump, Kaplan, Donald J, Jack Smith, unindicted, Smith, Tanya Chutkan, Stormy Daniels, Karen McDougal, Hillary Clinton, Michael Cohen, Alvin Bragg's, Cohen, Bragg, Walt Nauta, Carlos De Oliveira —, Nauta, De Oliveira Organizations: U.S, Atlanta Hartsfield, Jackson International Airport, GOP, Convention, Trump Organization, District of Columbia, DOJ, FBI, New York, Court New, Trump, Fulton County Superior Court, Fulton, Republican, Carroll, U.S . Department of Justice, Iowa, American Communications Network, Washington , D.C, Biden, Manhattan, Democratic, Daniels, Beach, White, Republican National Locations: Atlanta , Georgia, Milwaukee ., New York, Manhattan, Georgia, Atlanta, Fulton County, Washington ,, York, Fort Pierce , Florida
Now, businesses say they need tourism to stay afloat and keep their workers employed. Kawakami said in the short term, though, local businesses need visitors to come back. But right now, local businesses need tourists in the short run to survive, and some told Insider that residents urging tourists to stay away were misguided. What locals say relief should look likeOn Thursday, Sen. Brian Schatz of Hawaii said on Twitter that South Maui resorts "NEED visitors," adding "now we have housed virtually everyone, temporarily." AdvertisementAdvertisement"It was through the efforts of local community, not the government," Nakoa said.
Persons: Garrett Marrero, Marrero, Kyle Kawakami, Kawakami, COVID, we're, Kaniela Ing, " Marrero, Sen, Brian Schatz, Josh Green of, Green, Ing, Julia Tallman, Leonard Junya Nakoa, Nakoa, Tallman, She's, she's Organizations: Service, Maui Brewing Company, Maui Brewing, , Green New Deal Network, Hawaii, Twitter, Maui Economic Development Board, New Deal Locations: Maui, Wall, Silicon, Lahaina, West Maui, Josh Green of Hawaii
Chinese President Xi Jinping unexpectedly missed a scheduled speech at this week's BRICS summit. China's commerce minister stood in for the speech instead, commenting on the US's economic dominance. Xi was the only BRICS leader who didn't make an appearance, with even Russia's Putin delivering comments virtually. After skipping the speech, Xi attended a dinner with the other nations' leaders, per CNN. Over the last two years, BRICS nations have increasingly tried to move off the US dollar as part of the broader dedollarization trend, completing international transactions in China's yuan or other local currencies.
Persons: Xi Jinping, Xi, didn't, Putin, Russia —, Wang Wentao, Xi's, Bonnie Glaser, — Bonnie Glaser, Organizations: Service, CNN, China's, German Marshall Fund Locations: Wall, Silicon, South Africa, India, Brazil, Russia, China
CNN —Chinese leader Xi Jinping on Tuesday unexpectedly skipped a business forum of the BRICS economic group in South Africa, sending his commerce minister instead to deliver a fiery speech in his name that decried US hegemony. Xi, who arrived in Johannesburg on Monday for the annual BRICS summit of major emerging economies, was scheduled to deliver a speech at its business forum on Tuesday afternoon alongside leaders from India, Brazil and South Africa. Xi was the only BRICS leader who did not attend the business forum. At a regular news briefing Wednesday, Wang Wenbin, another spokesperson for the ministry, sidestepped a question about Xi’s absence at the BRICS business forum. “The (Chinese Communist Party) feels no obligation to provide explanations about why its foreign minister was replaced or its top leader was a no show at the BRICS Business Forum.
Persons: Xi Jinping, Xi, , Wang Wentao, Vladimir Putin, , Bonnie Glaser, Marshall Fund’s, Brian Hart, Cyril Ramaphosa, ” Hart, Wang, Hua Chunying, Wang Wenbin, sidestepped, Xi’s, “ I’ve, Glaser, Qin, Wang Yi, Hart Organizations: CNN, Chinese Commerce, China Power, Center for Strategic, International Studies, South, Ramaphosa, Xinhua, Chinese Foreign Ministry, Communist Party, German Marshall Fund, CSIS Locations: South Africa, Johannesburg, India, Brazil, Beijing, United States, Ukraine, China,
China's Xi Jinping is in South Africa this week for the BRICS summit. Addressing the BRICS summit by video link Tuesday, Russian President Vladimir Putin took swipes at the West, and said the summit represented the "global majority." Together, they make up around 40% of the world's population, around $27.7 trillion of the global economy, and are seen to represent the so-called "Global South" of southern hemisphere nations. Taking on the dollarThere are also proposals on the table to create a BRICS currency to challenge the global dominance of the dollar. AdvertisementAdvertisementChina and Russia may have ambitious plans for the BRICS group, but realizing them still appears some distance away.
Persons: China's, Jinping, Putin, Vladimir Putin, Graeme Thompson, China Xi, Cyril Ramaphosa, PHILL MAGAKOE, Xi Jinping, Steve Tsang, Thompson, Xi, Wang Wentao, Luiz Inacio Lula da Silva, Luiz Inácio Lula da Silva Organizations: Service, Eurasia Group, South, Getty Images, US, SOAS China Institute, University of London, CNN, Russia, Anadolu Agency, Getty Locations: South Africa, China, Russia, Wall, Silicon, Johannesburg, Brazil, India, AFP, Western, Iran, Saudi Arabia, Indonesia, Ukraine, Beijing, Pacific, United States
In 2009, Glover was crowned US Open champion and became the world’s 15th best-ranked golfer. It was time to call in help, and that support arrived in the shape of former Navy SEAL Jason Kuhn. Keyur Khamar/PGA TOUR/Getty ImagesHaving first met with Kuhn in May, Glover began to work with the ex-Navy SEAL shortly after. Glover has a perfect record at the Presidents Cup, triumphing in 2007 and 2009, with Johnson his teammate at both tournaments. The Presidents Cup is a biennial competition between Americans and an international team open to players outside the United States and Europe.
Persons: Lucas Glover, Scotsman Tommy Armour, Ernie Els, Danielle Kang, Bernhard Langer, Glover, ” Glover, CNN Sport’s Don Riddell, , Mike Segar, Jason Kuhn, Kuhn, Tyler Matzek, Keyur Khamar, , It’s, he’s, that’d, , , ” Ryder, – Zach Johnson, Ryder, Johnson, I’ve, – I’ve, Robert Galbraith, Reuters Scottie Scheffler, Wyndham Clark, Patrick Cantlay, Brian Harman, Brooks Koepka, Max Homa – Organizations: CNN, Scotsman, Bethpage, Reuters, NCAA Division, Major League Baseball, NCAA, MLB, Navy, Atlanta Braves, ex, Wyndham Championship, FedEx St, Jude, BMW, US Ryder, Rome, US Team, Harding, Golf Club, PGA of America, Team USA, triumphing Locations: Georgia, New York, Illinois, San Francisco , California, Italy, Frisco , Texas, United States, Europe
Most solar storms are pretty harmless, but every so often, the sun can send hugely powerful storms. The Carrington Event of 1859 is widely considered to be the most powerful solar storm ever recorded. A huge solar flare like this one anticipated the 1989 solar storm. Why scientists are concerned about the next solar peakThe sun's activity is currently growing, and scientists are particularly concerned about the ongoing solar cycle. With enough warning, operators can put in place measures to protect infrastructure from the worst effect of solar storms.
Persons: we've, Mathew Owens, Daniel Verscharen, it's, We've, we'd, Owens, Elon Musk's, Verscharen, Till Organizations: Service, NASA, University of Reading, Solar Dynamics, University College London, Heliospheric, Getty, NOAA, Elon, Elon Musk's SpaceX, Verscharen, European Space Agency Locations: Wall, Silicon, Quebec, Soviet Union, Russia, Canada, Sweden
The Russian lunar mission, the first since 1976, is racing against India, which launched its Chandrayaan-3 lunar lander last month, and more broadly with the United States and China, both of which have advanced lunar exploration programs targeting the lunar south pole. The lander is expected to touch down on the moon on Aug. 21, Russia's space chief Yuri Borisov told Interfax on Friday. I hope that a highly precise soft landing on the moon will happen," Borisov told workers at the Vostochny cosmodrome after the launch, according to Interfax. A Japanese lunar landing failed last year and an Israeli mission failed in 2019. No country has made a soft landing on the south pole.
Persons: Roscosmos, Yuri Borisov, Borisov, Luna, Asif Siddiqi, Neil Armstrong, Maxim Litvak, Guy Faulconbridge, Joey Roulette, Leslie Adler, Gerry Doyle Organizations: India, Soyuz, Luna, Vostochny, NASA, Kremlin, Space, European Space Agency, Fordham University, Reuters, 2.1b, REUTERS U.S, European Union, Thomson Locations: MOSCOW, Russia, United States, China, Vostochny cosmodrome, Moscow, Ukraine, Russian, Amur, Handout, Soviet, Soviet Union, India, Japan, Washington
Russia has begun making copies of attack drones it acquired from Iran last year and is using them in combat against Ukrainian forces despite sanctions imposed to cripple the country’s weapons production, according to a report issued Thursday by a weapons research group. The researchers traveled to Kyiv in late July and inspected the wreckage of two attack drones that were used in combat in southeastern Ukraine. Both appeared to be Iranian Shahed-136s, but they contained electronic modules that match components previously recovered from Russian surveillance drones, according to the report. The investigation was conducted by Conflict Armament Research, an independent group based in Britain that identifies and tracks weapons and ammunition used in wars. It is the group’s 10th published account of its work in Kyiv, where researchers have analyzed Russian military hardware collected on the battlefield by Ukraine’s security services.
Organizations: Ukrainian, Armament Research Locations: Russia, Iran, Kyiv, Ukraine, Iranian, Britain
[1/2] Musician Robbie Robertson arrives for the gala presentation of his biopic "Once Were Brothers: Robbie Robertson and The Band" on opening night at the Toronto International Film Festival (TIFF) in Toronto, Ontario, Canada September 5, 2019. The Band included four Canadians - Robertson, Rick Danko, Garth Hudson and Richard Manuel - and was anchored by an Arkansas drummer, Levon Helm. Robbie Robertson later learned that his biological father was a man he described as a "card shark" of Jewish heritage named Alex Klegerman, who was killed in a highway hit-and-run accident before Robertson was born. Danko died at age 55 in 1999. Helm died of throat cancer in 2012.
Persons: Robbie Robertson, Mario Anzuoni, Robertson, Jared Levine, Robbie, Rick Danko, Garth Hudson, Richard Manuel, Levon Helm, Ronnie Hawkins, Bob Dylan, Martin Scorsese's, Helm, Danko, Manuel, Greil Marcus, Eric Clapton, Elton John, Walcott, Jaime Royal Robertson, Rosemarie Dolly Chrysler, Canadian Army enlistee, Jim Robertson, Alex Klegerman, Dylan, Clapton, Joni Mitchell, Neil Young, Van Morrison, Muddy Waters, Scorsese, Jodie Foster, Hudson, Matthew Lewis, Kanishka Singh, Diane Craft, Rosalba O'Brien Organizations: Toronto, Film, REUTERS, Canadian -, Hawks, Big, Beatles, Walcott Medicine, Canadian Army, Six Nations Indian Reserve, Canadian Broadcasting, Thomson Locations: Toronto , Ontario, Canada, Canadian - American, Los Angeles, Arkansas, Woodstock , New York, San Francisco, America, Toronto, Canadian, Mohawk, Cayuga, Ontario, Florida, Chicago, Washington
Mr. Hawkins saw enough in Mr. Robertson to write two songs with him, which he recorded, and he later invited the teenage guitarist to join his band, the Hawks, initially on bass. The Hawks also included Levon Helm on drums; by 1961, the other future members of the Band were also in the fold. While he initially refused, he did perform with Mr. Dylan in New York and Los Angeles, bringing along Mr. At the guitarist’s insistence, Mr. Dylan wound up hiring most of the other future members of the Band for the full tour. “This album was recorded in approximately two weeks,” another close Dylan associate, Al Kooper, wrote in a review in Rolling Stone.
Persons: Hawkins, Robertson, Levon Helm, Levon, Bob Dylan, Dylan, Helm, , Mr, , Al Kooper, Joan Baez Organizations: Hawks, Roulette Records, Atco, Big Pink, Billboard Locations: New York, Los Angeles, Woodstock, Stone
Lawyers for former President Donald Trump said in a court filing Friday they will appeal a Georgia judge's recent ruling that keeps an Atlanta prosecutor in charge of her criminal investigation into Trump's efforts to overturn the state's 2020 presidential election results. The Georgia state Supreme Court last month denied an identical request by the former president, directly to that high court, on the grounds that he was seeking that relief too early, without lower courts ruling first. Whether the Supreme Court will look differently on any appeal by Trump of the lower court's recent denial remains to be seen. Friday's filing came as Willis' decision on whether to indict Trump and his legal allies seemed to move even closer. Willis has said she plans to announce that decision by the beginning of September.
Persons: Donald Trump, Fani Willis, Trump, Willis Organizations: Fulton Locations: Georgia, Atlanta, Fulton County
And earlier this week, Russia targeted a Ukrainian port on the Danube River near NATO ally Romania. Now, Russia’s defense ministry has warned that ships sailing to Ukraine’s Black Sea ports will be viewed as military targets. Two thirds of the wheat that left Ukraine via the Black Sea ports went to developing countries, said Power. Russian drones attacked Ukraine's port infrastructure on the Danube river, targeting Ukrainian grain stocks and destroying storage hangars, the Ukrainian Army said. “We believe its targeting might also include attacks against civilian shipping in the Black Sea.
Persons: Barbara Woodward, Moscow’s, United Nations Linda, Thomas Greenfield, , , Samantha Power, Antony Blinken, António Guterres, Bulgaria –, Power, Kees Huizinga, Huizinga, ” Katherine Brucker Organizations: CNN, United Nations, NATO, European, US Agency for International Development, UN, Romania, European Commission, Aspen Security, AP, U.S . Agency for International, Biden, Ukrainian Army, Ukraine Operational Command, European Union, Organization for Security, Cooperation Locations: Ukraine, United, Russia, Odesa, Ukrainian, Turkey, Kerch, Poland, Slovakia, Hungary, Romania, Bulgaria, West, United States, Europe
Opinion: Don’t expect history to be kind to Netanyahu
  + stars: | 2023-07-25 | by ( Frida Ghitis | ) edition.cnn.com   time to read: +8 min
CNN —There is no question that history books will dedicate considerable space to the impact that Israeli Prime Minister Benjamin Netanyahu had on the fate of his embattled nation. But in Israel’s parliamentary system, the prime minister controls not just the executive but also the legislature through his majority coalition in parliament. Without judiciary oversight, the prime minister and his bloc have little to stop them as they push their agenda. Frida GhitisTo become prime minister, Netanyahu had to enlist the support of enough parties to have 61 votes out of the 120 seats in the Knesset. When asked whom they would prefer as prime minister, just 34% said Netanyahu over the center-right Benny Gantz, with opposition leader Yair Lapid also beating the Israeli leader.
Persons: Frida Ghitis, Benjamin Netanyahu, Netanyahu, “ Bibi, , , it’s, Itamar Ben Gvir, Bezalel Smotrich, Benny Gantz, Yair Lapid, Joe Biden, Ron DeSantis, Biden, Facebook Netanyahu, Donald Trump’s politicization, toying Organizations: CNN, Washington Post, Politics, Frida Ghitis CNN, West Bank, Florida Gov, Twitter, Facebook, Israel Locations: Israel’s, United States, Tel Aviv, Jerusalem, Israel
The attack is the closest Moscow has come to hitting the military alliance’s territory since Russia’s full-scale invasion of Ukraine last year. The port strike came amid two drone attacks in central Moscow on Monday morning that Russian officials blamed on Ukrainian forces. At least two nonresidential buildings were hit about 4 a.m. local time, Mayor Sergei Sobyanin of Moscow said on the Telegram messaging app. He added that there had been no “serious damage or casualties.”Ukrainian and Romanian officials denounced the port strike, with President Klaus Iohannis of Romania condemning the attack on Ukrainian infrastructure close to his country’s borders. He said on Twitter that the “recent escalation poses serious risks to the security in the Black Sea,” as well as affecting Ukrainian grain shipments and global food security.
Persons: Sergei Sobyanin, Klaus Iohannis Organizations: Monday, NATO, Twitter Locations: Russia, Ukraine, Romanian, Ukrainian, United States, Reni, Romania, Moscow,
July 20 (Reuters) - KeyCorp (KEY.N) reported on Thursday a bigger-than-expected 50% fall in quarterly profit, as it set aside more rainy day funds amid growing economic uncertainties. Shares of the company fell nearly 3% in premarket trading. The lender's provisions for credit losses jumped by 271% to $167 million at the quarter end, compared with $45 million in a year-ago quarter. Banks have started to raise their provisions for loan losses as high borrowing costs threaten to cripple the banking sector from the risk of defaults. The company's net interest income fell nearly 11% to $986 million for the quarter ended June 30, compared with $1.1 billion, a year earlier.
Persons: Banks, Jaiveer Singh, Shweta Agarwal Organizations: Thomson Locations: Bengaluru
With the Oct. 7 export controls, the United States government announced its intent to cripple China’s ability to produce, or even purchase, the highest-end chips. The logic of the measure was straightforward: Advanced chips, and the supercomputers and A.I. “The key here is to understand that the U.S. wanted to impact China’s A.I. The outcome will likely shape U.S.-China competition, and the future of the global order, for decades to come. No technology in the history of human civilization has ever matched the breathtaking ascent of computing power.
Persons: , Gregory C, Allen, ” Allen, C.J, you’d, would’ve, , Chris Miller Organizations: United, Wadhwani, A.I, Technologies, Center for Strategic, International Studies, Evercore ISI, Moore’s, Fletcher School, Tufts University Locations: United States, Washington, China, Russia, Ukraine
CNN —Hong Kong police searched the family home of exiled pro-democracy activist Nathan Law on Tuesday morning, taking relatives away for questioning, the city’s public broadcaster RTHK reported, citing sources. The sweeping law was imposed by Beijing on Hong Kong in 2020, after huge pro-democracy protests roiled the semi-autonomous city. The Hong Kong government has repeatedly denied the national security law is suppressing freedoms. Law arrived in Britain in July 2020, soon after the national security law was imposed in Hong Kong. He criticized the national security law as being used to “suppress dissenting voices,” and reiterated his hope for Hong Kong to one day gain full democracy.
Persons: Nathan Law, John Lee, Lee, Hong, Law, , , Hong Kongers Organizations: CNN, Hong, RTHK, HK, Tung, Law, , . Law Locations: Hong Kong, Western, United States, Canada, Britain, Australia, Beijing
The Fed's own economists aren't sure if the US economy will suffer a recession or not. They believe it's a virtual coin toss whether there's a mild downturn or none at all. Even the Federal Reserve's own economists say it's basically a coin toss, the minutes from the Fed's June meeting show. The central bank's staff predicted that banks would keep pulling back on lending, tightening financial conditions and causing real gross domestic product (GDP) to decline modestly for the next two quarters. They also tend to damp demand, lift unemployment, and pull down asset prices, increasing the risk of a recession.
Persons: , it's, Jerome Powell Organizations: Service, Silicon Valley Bank, Signature Bank, Fed Locations: Silicon
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