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☆ U.S. House sidelines far-right Republican impeachment vote on Biden
▼ + stars: | 2023-06-22 | by ( David Morgan | ) www.reuters.com time to read: +3 min

REUTERS/Evelyn Hockstein/File PhotoWASHINGTON, June 22 (Reuters) - U.S. House Republicans turned aside an attempt by hardline conservatives to force an impeachment vote against President Joe Biden on Thursday, in the first of what could prove to be a series of impeachment efforts by members of the far right. The House of Representatives voted 219-208 along party lines to refer a privileged resolution offered by firebrand Representative Lauren Boebert to two congressional committees. Under House rules, privileged resolutions pursued by Boebert and Greene must come up for a vote within two legislative days. McCarthy opposes such initiatives on impeachment, saying he expects ongoing House committee investigations to produce evidence against Biden and members of his administration that can be used to build impeachment cases. But Greene, who had previously introduced formal articles of impeachment against Biden and others, told reporters that privileged resolutions could be necessary because internal Republican divisions have prevented the House Judiciary Committee from acting on impeachment.

Persons: Lauren Boebert, Hunter Biden, Evelyn Hockstein, Joe Biden, Boebert, Biden, Marjorie Taylor Greene, Christopher Wray, Republican Donald Trump, Kevin McCarthy, Greene, Wray, General Merrick Garland, Alejandro Mayorkas, Matthew Graves, McCarthy, David Morgan, Scott Malone, Jonathan Oatis Organizations: House, REUTERS, WASHINGTON, . House Republicans, firebrand, U.S, Biden, U.S . Capitol, Republican, Democratic, Republicans, Boebert, House Homeland Security, Homeland, Thomson Locations: New York, Washington , U.S, Mexico, U.S, Ukraine

BEIJING, June 21 (Reuters) - A slowdown in both the Chinese and global economies is the biggest issue affecting European firms in China, beating political tensions with the United States and decoupling, according to the European Chamber of Commerce in China. The number of European firms that see China as a top-three destination for future investment was at its lowest total on record, the chamber's annual position paper released on Wednesday said. As rising interest rates and inflation squeeze demand in Europe and the United States, companies in China are in contrast battling a sharp decline in prices as the risk of deflation weighs on the world's second-largest economy. BASF (BASFn.DE), Maersk (MAERSKb.CO), Siemens (SIEGn.DE), and Volkswagen (VOWG_p.DE) are among the members of the chamber. The chamber's findings, which were based on the views of members from February to early March, revealed that a record number of companies had lost business last year due to market access and regulatory barriers.

Persons: Xi, Ursula von der Leyen, Joe Cash, Angus MacSwan Organizations: European Chamber of Commerce, BASF, Maersk, Siemens, Volkswagen, Thomson Locations: BEIJING, China, United States, Europe

☆ Business in China is getting harder for European companies despite the end of Covid controls
▼ + stars: | 2023-06-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING – European businesses in China are finding it harder to operate in the country, even after it has re-opened from Covid, the EU Chamber of Commerce in China found in its latest member survey, released Wednesday. Mainland China ended its stringent Covid controls in December, and authorities pledged to support more business travel in and out of the country. "Zero-Covid has ended, but other headwinds will need to be addressed if China is to regain its attractiveness," the Chamber's report said. While the survey noted part of those were due to Covid controls, the outlook remains grim. There's "no expectation that the regulatory environment is really going to improve over the next five years," Jens Eskelund, president of the EU Chamber of Commerce in China, told reporters in a briefing.

Persons: Ole Kaällenius, Zhimin Qian, Li Qiang, Olaf Scholz, Covid, Jens Eskelund Organizations: State Power Investment Corporation, EU Chamber of Commerce Locations: People's Republic of China, BEIJING, China, Covid, Mainland China

☆ Drugmakers aim to strike down Medicare drug-price negotiations at Supreme Court
▼ + stars: | 2023-06-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +10 min

And Bristol Myers Squibb is trying protect its blood thinner Eliquis, which brought in $11.8 billion in sales last year, or about 25% of the company's $46 billion total revenue for 2022. Long legal battle aheadMerck, the chamber and Bristol Myers Squibb filed their lawsuits ahead of two key deadlines. Bristol Myers Squibb did not either. If circuit court decisions on the matter contradict one another, the Supreme Court would step in to decide the issue, Bagby said. Bristol Myers Squibb made an identical argument in its complaint.

Persons: Richard A, Gonzalez, Pascal Soriot, Giovanni Caforio, Jennifer Taubert, Johnson, Kenneth C, Frazier, Albert Bourla, Olivier Brandicourt, Win Mcnamee, Drugmaker Merck, Drugmaker, Bristol Myers Squibb, PhRMA, Eli Lilly, Merck, Bristol Myers, Robin Feldman, Nicholas Bagley, Bagley, Gretchen Whitmer, Chris Meekins, Raymond James, Antonin Scalia, Brett Kavanaugh, Neil Gorsuch, Meekins, Long, Xavier Becerra, Randolph Daniel Moss, Barack Obama, Judge Thomas M, Rose, George W, Bush, Kelly Bagby, Bagby, Amgen, Donald Trump, Karine Jean, Pierre, Biden, Jean, we'll, Becerra, Feldman Organizations: Senate, AbbVie Inc, AstraZeneca, Myers Squibb Co, Janssen Pharmaceuticals, Johnson, Merck & Co, Inc, Pfizer, Sanofi, Getty, U.S . Chamber of Commerce, Bristol Myers Squibb, Washington , D.C, Southern, Southern District of, Democratic Party, U.S, Merck, Bristol, Pharmaceutical Research, Manufacturers of America, CNBC, Medicare, University of California College of, Justice Department, Michigan Gov, Bristol Myers, Human Services, Centers, Services, AARP Foundation, HHS, AARP, Specialty Pharmacy, Reuters, Supreme, Appeals, Democratic, U.S . Sixth, Republican, Third, White Locations: America, Washington , DC, Bristol, U.S, Washington ,, Southern District, Southern District of Ohio, New Jersey, Commerce's Dayton , Ohio, San Francisco

☆ 'Livid' US House conservatives poised for next battle with McCarthy
▼ + stars: | 2023-06-12 | by ( David Morgan | ) www.reuters.com time to read: +3 min

[1/2] U.S. House Speaker Kevin McCarthy (R-CA) speaks to reporters on Capitol Hill in Washington, U.S., June 8, 2023. The House is scheduled this week to consider Republican messaging bills that were delayed by the standoff. McCarthy can afford to lose no more than four Republican votes on any measure that faces uniform opposition from Democrats. Norman and other conservatives want 12 appropriations bills that Congress will try to pass in coming months to contain deeper spending cuts included in a Republican debt ceiling bill that passed the House in April. But moderate Republicans warned that hardball tactics could backfire on conservatives if party infighting forces Republican leaders to rely on Democratic votes to move critical legislation.

Persons: Kevin McCarthy, Amanda Andrade, Rhoades, Ralph Norman, McCarthy, We'll, Tom Emmer, Joe Biden, Norman, Don Bacon, David Morgan, Mary Milliken, Paul Simao Organizations: ., Capitol, REUTERS, U.S . House, Freedom Caucus, Reuters, Republicans, Republican, Democrats, Democratic, Thomson Locations: Washington , U.S, WASHINGTON, Washington

THE HAGUE, June 7 (Reuters) - Judges at a U.N. war crimes court ruled that elderly Rwandan genocide suspect Felicien Kabuga is unfit to stand trial but said slimmed-down legal proceedings in his case can continue, in a decision published on Wednesday. "The trial chamber finds Mr. Kabuga is no longer capable of meaningful participation in his trial," a decision published on the Hague court's website said. "It is simple: when a person is deemed unfit for trial, then the court case should end and that person should go home," he said. Kabuga has denied the charges of genocide and crimes against humanity. Prosecutors say Kabuga promoted hate speech through his broadcaster, Radio Television Libre des Milles Collines (RTLM), and armed ethnic Hutu militias.

Persons: Felicien Kabuga, Kabuga, Emmanuel Altit, Eric Emeraux, Felicien, Benoit Tessier, Prosecutors, Stephanie van den Berg, Charlotte Van Campenhout, Jason Neely, Andrew Heavens Organizations: HAGUE, Hague, Office, Reuters, REUTERS, Radio Television Libre, United Nations, Thomson Locations: France, Paris, Hague, United, Rwanda

☆ Factbox: Who is Mike Pence, Republican 2024 presidential hopeful?
▼ + stars: | 2023-06-07 | by ( Tim Reid | ) www.reuters.com time to read: +3 min

June 7 (Reuters) - Former U.S. Vice President Mike Pence will formally announce his candidacy for the 2024 Republican presidential nomination on Wednesday, setting him up for a battle with the man he once loyally stood by - former President Donald Trump. He became disillusioned with the party while in college and inspired by former President Ronald Reagan, switched to the Republican Party. He ran for governor of Indiana in 2012, narrowly winning election, and assumed office in January 2013. TRUMP'S VICE PRESIDENTPence dropped out of his gubernatorial re-election bid in 2016 to become Trump's vice presidential running mate. As vice president, Pence oversaw the certification in his ceremonial role as president of the U.S. Senate.

Persons: Mike Pence, Donald Trump, Pence, Ronald Reagan, Democrat Joe Biden, Trump, Trump's, Tim Reid, Moira Warburton, Ross Colvin, Grant McCool Organizations: Former U.S, CONSERVATIVE, Democrat, Republican Party, Congress, U.S . House, Representatives, INDIANA, Republican, Trump, U.S . Senate, U.S . Capitol, Capitol, Thomson Locations: Former, U.S, Indiana, Trump, Iowa

☆ 'Crypto is not going away', says Digital Chamber's Perianne Boring on SEC lawsuit against Binance
▼ + stars: | 2023-06-06 | 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 Email'Crypto is not going away', says Digital Chamber's Perianne Boring on SEC lawsuit against BinancePerianne Boring, Digital Chamber founder and CEO, joins CNBC's Tanaya Macheel and 'Last Call' to discuss the SEC's lawsuit against Binance and the possible future of crypto regulation.

Persons: Binance Perianne Organizations: SEC, Digital Chamber, Binance

Asia-Pacific markets are set to rise after U.S. President Joe Biden signed into law a debt ceiling bill that allowed the U.S. to avert defaulting on its financial obligations over the weekend. The compromise debt ceiling bill passed the Senate by a 63-36 margin Thursday evening, winning enough support from both parties to overcome the chamber's 60-vote threshold to avoid a filibuster. The next level to watch for investors will be the 32,644 mark which would breach its highest since July 1990. Oil futures also surged as the Organization of the Petroleum Exporting Countries (OPEC) kingpin Saudi Arabia's decision to cut oil production by another million barrels per day. Prices of Brent crude were 2.35% up at 77.94, while West Texas Intermediates was up 2.43% at 72.48.

Persons: Joe Biden, Brent Organizations: Nikkei, of, Petroleum, Saudi Locations: Asia, Pacific, Japan, Chicago, Osaka, West Texas

The Texas Legislature impeached Republican state Attorney General Ken Paxton on Saturday. Texas state Sen. Angela Paxton sits in the Senate Chamber at the Texas Capitol in Austin, Texas, on May 29, 2023. But the threshold for conviction in the Senate trial is higher, requiring a two-thirds majority of its 31 members. If that happens, Ken Paxton would be permanently barred from holding office in Texas. He had suggested before the House impeachment vote that all 31 senators would vote in the trial.

Persons: Ken Paxton, —, Paxton, Donald Trump, Sen, Angela Paxton, Eric Gay, Speaker Dade, Gov, Dan Patrick, Trump, Patrick, Nathan Howard The, Patrick wouldn't, Austin, Nate Paul, Bryan Hughes, Hughes, Paul, Republican Ken Paxton, NICHOLAS KAMM, Trump's, Republicans didn't, Matt Rinaldi, Paul . Four, US Justice Department's, Paxton's Austin, Phelan, James " Pa, Ferguson, O.P, Carrillo, ___ Bleiberg Organizations: Texas Legislature, Republican, Service, The Texas Legislature, GOP, Chamber, Texas Capitol, Senate, Speaker, AP, Getty, Republicans, Texas Senate, Texas, Washington Post, US Justice, Democratic, FBI, Legislature, Trump, Gov Locations: , Texas, Texas, Austin , Texas, Washington, Dallas

☆ Biden says debt ceiling bill avoids catastrophic economic default
▼ + stars: | 2023-06-02 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

The compromise debt ceiling bill passed the Senate by a 63-36 margin Thursday evening, winning enough support from both parties to overcome the chamber's 60-vote threshold to avoid a filibuster. Without the agreement, federal obligations such as Social Security, Medicare and military paychecks would have gone unsent. And failure to lift the debt ceiling would have roiled global financial markets and sparked job losses in the U.S. The bill comes after weeks of intense negotiations between Republican House Speaker Kevin McCarthy and the White House. The final deal handed conservatives several ideological policy victories in exchange for their votes to raise the debt ceiling beyond next year's presidential election and into 2025.

Persons: Joe Biden, Biden, Kevin McCarthy Organizations: White, Washington , D.C, WASHINGTON, Treasury Department, Social Security, U.S, Republican Locations: Washington ,, United States

REUTERS/Jonathan ErnstWASHINGTON, June 1 (Reuters) - The U.S. Senate will stay in session until it passes a bill to lift the government's $31.4 trillion debt ceiling, Democratic Majority Leader Chuck Schumer said on Thursday. Schumer said on Wednesday that the Senate would not make any amendments on the bill, which would send it back to the House for re-approval. The Republican-controlled House passed the bill on Wednesday evening in a 314-117 vote. His counterpart, Senate Republican Leader Mitch McConnell, also signaled on Wednesday that he would work for fast passage, saying, "I'll be proud to support it without delay." Chastising House Republican negotiators for agreeing to what he sees as a weak compromise with Democrats, Lee lamented, "With Republicans like these, who needs Democrats?"

Persons: Chuck Schumer, Jonathan Ernst WASHINGTON, Joe Biden, Schumer, Biden, Kevin McCarthy, McCarthy, Mitch McConnell, McConnell, John Thune, “ There’ll, ”, Rand Paul, Mike Lee, Lee, surrogates, Richard Cowan, David Morgan, Scott Malone, Alistair Bell Organizations: U.S, Democratic, Capitol, REUTERS, Senate, Republican, Republicans, House, Treasury Department, CBS News, Biden, Thomson Locations: Washington , U.S, United States

"Once this bill reaches the Senate, I will move to bring it to the floor as soon as possible," Majority Leader Chuck Schumer said on Wednesday. His counterpart, Senate Republican Leader Mitch McConnell, also signaled that he would work for fast passage, saying, "I'll be proud to support it without delay." The chamber's rules require 60 votes to advance most legislation, meaning at least nine Republican votes are needed to pass most bills, including the debt ceiling deal. On Wednesday he vowed to vote against the bill, but did not reiterate his threat to try to delay it. Chastising House Republican negotiators for agreeing to what he sees as a weak compromise with Democrats, Lee lamented, "With Republicans like these, who needs Democrats?"

Persons: Chuck Schumer, Jonathan Ernst WASHINGTON, Joe Biden, Biden, Kevin McCarthy, McCarthy, Mitch McConnell, Schumer, McConnell, John Thune, Rand Paul, Mike Lee, Lee, surrogates, Richard Cowan, David Morgan, Scott Malone, Lincoln Organizations: U.S, Democratic, Capitol, REUTERS, Senate, Republican, Republicans, Treasury Department, CBS News, Biden, Social, Wall, Thomson Locations: Washington , U.S, United States

☆ Explainer: US debt ceiling deal's winding road to passage in Congress
▼ + stars: | 2023-05-28 | by ( Richard Cowan | ) www.reuters.com time to read: +4 min

Then, McCarthy has vowed to give House members 72 hours to read it, and passage through the House and Senate will each take several more days. House Democrats have backed this idea but could not succeed unless enough of the Republican majority joined them. SENATE FOLLOWSIf passed by the House, the legislation goes to the Senate where Democrats hold a 51-49 majority over Republicans. If there were to be a 50-50 tie in the Senate, Vice President Kamala Harris can cast the vote to win 51-50 passage. Upon passage by the House and Senate, the deal would go to the White House for Biden to sign into law.

WASHINGTON — House Speaker Kevin McCarthy said Wednesday that negotiations over raising the U.S. debt limit were progressing toward a deal despite disagreements over spending, with only eight days before the government could face an unprecedented default. Fitch Ratings, one of the big three ratings agencies, placed the United States' triple-A status on "rating watch negative." The warning came after McCarthy projected hope that negotiators would reach a deal in time to avoid default. The decision to let members fly home for the week is a tacit acknowledgment by House leadership that a deal to raise the debt ceiling does not appear to be imminent. Debt ceiling-related stress was affecting Treasury markets in particular, Yellen said at a Wall Street Journal event.

Persons: Kevin McCarthy, Fitch, McCarthy, Steve Scalise, Joe, Biden, Janet Yellen, Yellen Organizations: WASHINGTON, Fitch, Fox Business, White, Treasury, Republican, Democratic, Capitol Locations: United States, Washington, U.S

Interviews with a U.S. senator, congressional staffers, AI companies and interest groups show there are a number of options under discussion. Some proposals focus on AI that may put people's lives or livelihoods at risk, like in medicine and finance. Other possibilities include rules to ensure AI isn't used to discriminate or violate someone's civil rights. Another debate is whether to regulate the developer of AI or the company that uses it to interact with consumers. GOVERNMENT MICROMANAGEMENTThe risk-based approach means AI used to diagnose cancer, for example, would be scrutinized by the Food and Drug Administration, while AI for entertainment would not be regulated.

☆ Key Florida business lobby isn't picking sides in feud between its allies Disney, DeSantis
▼ + stars: | 2023-05-04 | by ( Brian Schwartz | ) www.cnbc.com time to read: +2 min

The Florida Chamber of Commerce has counted Disney as an ally for over a decade, and helped to propel Republican Gov. Ron DeSantis' climb up the state's political ladder. But as Disney and DeSantis descend into an increasingly venomous fight, the state Chamber has not defended or criticized either side. The business lobbying group has yet to weigh in on the dispute on its website. The Florida Chamber of Commerce declined to comment.

☆ Former top execs of SVB and Signature Bank will testify at Senate hearing this month
▼ + stars: | 2023-05-03 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +1 min

People walk by a Manhattan branch of Signature Bank which was closed by bank regulators on Sunday on March 13, 2023 in New York City. WASHINGTON — Former top executives of the failed Silicon Valley Bank and Signature Bank will testify before the Senate on May 16, the chamber's Banking Committee announced late Wednesday. Scott Shay and Eric Howell were the chairman and president, respectively, of New York-based Signature Bank when it collapsed just days after SVB's failure. Former Signature Bank CEO Joseph DePaolo received a similar letter at the time. The former bank executives can expect a grilling from senators on both sides of the aisle.

☆ FDA commissioner praises Eli Lilly Alzheimer's treatment results
▼ + stars: | 2023-05-03 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

FDA Commissioner Dr. Robert Califf speaks at an event celebrating hearing aids being available over the counter at a Walgreens in Washington, D.C., Oct. 19, 2022. Food and Drug Commissioner Dr. Robert Califf praised results Eli Lilly announced Wednesday that a clinical trial showed its Alzheimer's treatment donanemab slowed progression of the disease. "We have to look at the data when it comes in before making a judgment, but if the data look as good as the press release — this is really, really exciting," the commissioner said. The antibody treatment also carries risks of brain swelling and bleeding that can be severe and even fatal in rare circumstances. Full-time civil servants who are prohibited from having financial conflicts of interest make those decisions, the commissioner said.

☆ Lawmakers praise First Republic sale, but efforts to pass new bank rules are fizzling
▼ + stars: | 2023-05-01 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +3 min

WASHINGTON — Lawmakers who sit atop key banking committees praised the federal takeover of First Republic Bank on Monday, and held up the sale of its assets to JP Morgan Chase as a successful public-private collaboration to protect the U.S. financial system. His statement contrasted from the reaction of the Senate banking committee's chairman, Democratic Sen. Sherrod Brown of Ohio. He did not directly respond to the federal intervention, choosing instead to direct his ire at the failed bank. "First Republic Bank's risky behavior, unique business model, and management failures led to significant problems, and it's clear we need stronger guardrails in place," Brown said in a statement. "We must make large banks more resilient against failure so that we protect financial stability and ensure competition in the long run."

SummarySummary Companies Anthony Johnstone is Biden's seventh appointee to the courtConfirmation comes as Senate Democrats struggle to advance some judges(Reuters) - The U.S. Senate on Monday voted 49-45 to confirm law professor Anthony Johnstone to the 9th U.S. Historically, judicial nominees have needed so-called "blue slips" representing approval from their home state senators to be considered for confirmation. However, the Republican-controlled Senate Judiciary Committee under the Trump administration ended that practice for appeals court nominees. Health issues have kept Senate Judiciary Committee member Dianne Feinstein out of Washington since March, creating ongoing difficulties for Senate Democrats seeking to advance Biden's judicial nominees. Schumer on Monday said that the Senate will take up several other judicial nominees this week.

☆ Mexican Senate expeditiously approves set of laws, mining reform
▼ + stars: | 2023-04-29 | by ( Raul Cortes | ) www.reuters.com time to read: +2 min

MEXICO CITY, April 29 (Reuters) - The Mexican Senate approved in an express session on Saturday a package of laws including two constitutional reforms and a new mining law rebuked by the mining chamber and Canada. The mining law shortens concessions in the mining sector to 30 years from 50, tightens water extraction permits, and requires some mining profits to be returned to local communities, among other modifications. Lopez Obrador has not granted any new mining concessions since he took office in the world's top silver producing country in late 2018. The national mining chamber Camimex has warned such reforms could cost the country some $9 billion in investments and up to 420,000 jobs. Mining giant Grupo México (GMEXICOB.MX) said on Thursday that the government's reforms to the sector did not represent a risk to its portfolio.

☆ West Virginia Gov. Jim Justice is running for Joe Manchin's pivotal Senate seat
▼ + stars: | 2023-04-27 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

West Virginia Governor Jim Justice (R) and US Senator Joe Manchin (L), Democrat of West Virginia, attend a roundtable discussion on the opioid epidemic with local and state officials at the Cabell-Huntington Health Department in Huntington, West Virginia, July 8, 2019. West Virginia's Republican governor, Jim Justice, filed official paperwork to kick off a 2024 campaign for the U.S. Senate seat currently held by incumbent Democratic Sen. Joe Manchin. If Manchin decides not to run for a third term, Democrats are widely expected to lose the seat to whichever Republican nominee emerges from West Virginia's Senate primary. A Trump campaign spokesman did not immediately respond to a request for comment. With his seat under threat, Manchin has appeared increasingly critical of President Joe Biden and his fellow Democrats.

WASHINGTON, April 26 (Reuters) - The U.S. House of Representatives will vote on a Republican bill to raise the U.S. government's $31.4 trillion debt ceiling and slash spending on Wednesday, after days of negotiations to win the support of reluctant Republican lawmakers. A procedural vote to allow debate on the bill passed in a 219-210 party-line vote earlier on Wednesday. Republican critics including hardline House Freedom Caucus Chairman Scott Perry and Representative Nancy Mace said they had dropped their opposition to the bill. Bending to the far-right wing of the party, Republicans also accelerated some new, tougher work requirements for receiving Medicaid healthcare benefits for the poor. House Republicans are offering to increase Washington's borrowing authority by $1.5 trillion or until March 31, whichever comes first.

☆ Micron case causing concern for US companies in China, business chamber says
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, April 26 (Reuters) - Leaders from a top U.S. business lobbying group said on Wednesday that Beijing's probe against U.S.-based chipmaker Micron Technology Inc (MU.O) marked a "major concern" for other companies operating in the country. "It is a major concern because China lacks transparency in many conventions of law and policy, and this is one," Ross said. The survey results showed respondents were more optimistic about the business outlook in China compared to the previous survey conducted in late 2022, before the government lifted COVID-19 controls. Michael Hart, president of AmCham China, said the survey showed that American companies feel the overall environment for investment in China is becoming less predictable than before. Micron has said it would cooperate with the probe and that its shipments and operations in China remain unaffected.

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