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☆ China hopes to reach a solution with the EU on EV tariffs 'as soon as possible'
▼ + stars: | 2024-07-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Employees work on the assembly line of electric vehicles in a digital automotive factory of Jiangling Motors on May 17, 2024. BEIJING — China hopes to reach an agreement with the European Union soon on the bloc's planned tariffs for imported Chinese electric cars, the Ministry of Commerce said Thursday. The European Commission announced in mid-June that if discussions with China did not go well, the bloc would start to impose additional duties on imported Chinese EVs on Thursday, July 4. "Definitive measures" would take effect four months after that date, according to a press release. He reiterated China's opposition to the European Union's anti-subsidy probe and pointed out the two sides still have a four-month window.

Persons: Yadong Organizations: Jiangling Motors, European Union, Ministry of Commerce, European Commission, Commerce Ministry, CNBC Locations: Jiangling, BEIJING, China

☆ Prominent Biden loyalists who have suggested he should step down
▼ + stars: | 2024-07-04 | by ( Alice Tecotzky | Thibault Spirlet | ) www.businessinsider.com time to read: +11 min

Read previewFor months, Democrats have rallied behind President Joe Biden, insisting that in private moments he's energetic and up for the job. "Joe Biden had one thing he had to do tonight, and he didn't do it," McCaskill said. Thomas FriedmanThomas Friedman, a journalist and close friend of Biden, said in an opinion piece that the president should step aside. Nicholas KristofNicholas Kristof, a New York Times columnist, addressed Biden directly in an opinion piece, calling on him to step down. Paul KrugmanPaul Krugman, a New York Times opinion columnist, said he "very reluctantly" joined others in calling on Biden to step aside.

Persons: —, Joe Biden, Biden's, David Axelrod David Axelrod, Obama, Joe Raedle, David Axelrod, Biden, Axelrod, Jason Mendez, Getty, Jon Favreau, haven't, Joe Biden —, Dan Pfeiffer, Tommy Vietor, Claire McCaskill Claire McCaskill, NBC Claire McCaskill, McCaskill, Kamala Harris, Gavin Newsom, Thomas Friedman Thomas Friedman, Michael Cohen, Thomas Friedman, Friedman, Donald Trump, Harris, Van Jones, Scott Dudelson Van Jones, Jones, Joy Reid, Ben Rhodes Ben Rhodes, Ben Rhodes, Nicholas Kristof Nicholas Kristof, Jamie McCarthy, Getty Nicholas Kristof, Kristof, Gretchen Whitmer, Sen, Sherrod Brown, Gina Raimondo, Evan Osnos, Thos Robinson, Osnos, Joe Scarborough, Noam Galai, Scarborough, Paul Krugman Paul Krugman, Paul Krugman, he's, Krugman, Chandler West, Joe Organizations: Service, Democratic National Convention, Business, GOP, Biden, CNN, Democratic, NBC, MSNBC, Gov, New York Times, Convention, CBS, Getty, Trump, Global Citizen, The New York Times, Chandler West Chandler West, White House, Axios, White Locations: America, California, Michigan, United States, Axios

☆ Judge delays ban on noncompete agreements for employees
▼ + stars: | 2024-07-03 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +2 min

New York CNN —A federal judge on Wednesday delayed a ban on noncompete agreements from taking effect for a small number of US workers on September 4. Unless the judge makes another ruling before that date, the ban will go into effect for the majority of employers in the US. The ban, which prohibits employers from enforcing noncompete clauses in most existing employment agreements and bans companies from including them in all future ones, was approved by the Federal Trade Commission in April. The FTC estimates that 30 million people — one in five US workers — are bound by a noncompete clause in their current jobs. In response to the order, FTC spokesperson Douglas Farrar said, “The FTC stands by our clear authority, supported by statute and precedent, to issue this rule.

Persons: ”, Ada Brown, Ryan, Daryl Joseffer, Douglas Farrar Organizations: New, New York CNN, Court, Northern, Northern District of Texas, Federal Trade Commission, Ryan LLC, US Chamber of Commerce, Business, Texas Association of Business, Longview Chamber of Commerce, Plaintiff, FTC, US, of Commerce, U.S, Chamber Locations: New York, Northern District, Texas, Longview

☆ The U.S. needs more of this critical metal — and China owns 80% of its supply chain
▼ + stars: | 2024-07-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Picture Alliance | Picture Alliance | Getty ImagesBEIJING — China dominates the supply chain for many of the world's critical minerals, but so far it's held off on sweeping restrictions on at least one: tungsten. Almonty claims the forthcoming mine in South Korea has the potential to produce 50% of the world's ex-China tungsten supply. "We see in the U.S., in Europe, they ask their suppliers for a China-free supply chain," said Michael Dornhofer, founder of metals consulting firm Independent Supply Business Partner. watch nowBack in January, U.S.-based research firm Macro Ops said: "We're approaching an inflection point in tungsten supply. Other non-Chinese companies in the tungsten supply chain are going to South Korea.

Persons: Lewis Black, Biden, Black, Yadong, Almonty, Michael Dornhofer, Dornhofer, Brandon Beylo, he's, Mark Seddon, Warren Buffett Organizations: Saxony Minerals, ., Getty, Taiwan Semiconductor Manufacturing Company, Nvidia, Almonty Industries, China's Ministry of Commerce, Independent Supply, Energy, Security Holdings, European, Chinese Communist Party, U.S . Bureau of Industry, Security, Department of Commerce, CNBC, Argus, IMC, IMC Group Locations: Germany, BEIJING, China, Canada, South Korea, U.S, Europe, United States, South Korea China, North Korea, Africa, Myanmar, Daegu

☆ Some Chinese buyers seem to be resorting to desperate measures to get Nvidia's most advanced chips
▼ + stars: | 2024-07-03 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

The US blocked China from importing advanced Nvidia chips in 2022, so some travelers are smuggling them in their luggage, The Wall Street Journal reported. The outlet reviewed records, including customs filings, that showed Nvidia chips were being purchased by Chinese buyers in an underground market. Related storiesThe demand for Nvidia's most advanced chips is so acute because they're regarded as crucial for training AI models. AdvertisementReuters reported in April that Chinese universities and research institutes, including the Chinese Academy of Sciences, obtained Nvidia chips through resellers. The Department of Commerce implemented the Advanced Computing Chips Rule , which makes it harder for China to import AI chips from American manufacturers.

Persons: —, Nvidia didn't Organizations: Service, Nvidia, Street Journal, Business, Financial Times, Reuters, Chinese Academy of Sciences, House, of Commerce Locations: China, Beijing, Asia

☆ Democrats ask Raimondo to step up enforcement on CHIPS funding
▼ + stars: | 2024-07-01 | by ( Emily Wilkins | ) www.cnbc.com time to read: +2 min

WASHINGTON — A group of Democrats are raising concerns as to whether companies that received federal funding for semiconductors used the money to support stock buybacks - and criticizing their own party over how the awards are given. Raimondo has stated that CHIPS funding is not meant to pad companies' bottom lines or support stock buybacks. But lawmakers urged her to go further, and ban stock buybacks for companies that receive CHIPS funds. About $33 billion of funding from the CHIPS Act has been allocated, mostly to major companies. It also said decisions on buybacks were independent from any funds released through the CHIPS Act.

Persons: Gina Raimondo, WASHINGTON, Sen, Elizabeth Warren, Sean Casten, Bill Foster of, Pramila, Pat Gelsinger, Raimondo, Warren Organizations: Science, Technology, Washington , D.C, CNBC, BAE Systems, Intel, Yahoo, Finance, Microelectronics, Commerce Department Locations: Rayburn, Washington ,, Bill Foster of Illinois, Washington

The ruling came on the final day of the Supreme Court's term that began in October. At issue in the case was whether Corner Post was too late when it brought its legal challenge. A group of small business associations had filed a brief urging the Supreme Court to maintain a strict statute of limitations that begins at the time a regulation is finalized. The Supreme Court in 2015 left in place a lower court's ruling backing the regulation. Circuit Court of Appeals upheld Traynor's decision, setting up the Supreme Court appeal.

Persons: Dado Ruvic, Charles Koch's, Joe Biden's, Dodd, Frank Wall, Daniel Traynor, Traynor's, John Kruzel, Will Dunham Organizations: REUTERS, Companies, Mastercard, WASHINGTON, U.S, Supreme, Federal, U.S . Chamber of Commerce, Federal Reserve, of Governors, District, Circuit, Fed, Thomson Locations: North Dakota, Watford City, Corner, St, Louis

Birds fly outside the U.S. Supreme Court on the day justices issue orders in pending appeals in Washington, U.S., June 24, 2024. Republican lawmakers and the U.S. Chamber of Commerce praised the Supreme Court decision Friday overturning the so-called Chevron Doctrine, which for four decades led judges to defer to how federal agencies interpreted a law when its language was not clear. GOP lawmakers said the 6-3 decision by the Supreme Court undid a precedent that they argued had unjustly strengthened the power of unelected government officials. "After forty years of Chevron deference, the Supreme Court made it clear today that our system of government leaves no room for an unelected bureaucracy to co-opt this authority for itself," McConnell said. "It's a huge blow to the administrative state in Washington, D.C. No one elects bureaucrats to make these decisions," Cotton said of the decision, which overturned the Supreme Court's ruling in 1984 in a case known as Chevron v. Natural Resources Defense Council.

Persons: Mitch McConnell, McConnell, Suzanne Clark, Clark, Jeff Holmstead, Bracewell, Holmstead, Chevron, Sen, Tom Cotton, Raimondo, Cotton Organizations: U.S, Supreme, Republican, U.S . Chamber, Commerce, GOP, Air, Environmental Protection Agency, Fox News, Loper Bright Enterprises, Constitutional, Chevron, Natural Resources Defense Locations: Washington , U.S, Ky, Washington ,

☆ The Supreme Court discards Chevron doctrine, unleashing a threat to Biden's climate policies
▼ + stars: | 2024-06-28 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

The Supreme Court on Friday overturned a decades-long legal precedent that has empowered the federal government to regulate the environment and other issues, unleashing a potential threat to President Joe Biden's climate policies. The court overruled the Chevron doctrine, one of the most important principles guiding federal regulation for the past 40 years. Last year, the Supreme Court significantly narrowed how many wetlands EPA can regulate to keep them clean. How did this case end up at the Supreme Court? They argued the Chevron doctrine injures small businesses and individuals who have little power to influence federal agencies.

Persons: Joe Biden's, Chevron, John Roberts, Joe Biden, Biden, Raimondo, Charles Koch Organizations: Service, Business, Environmental Protection Agency, Republican, Bright Enterprises, Inc, Department of Commerce, Action Institute, Chevron, Appeals, District of Columbia Circuit, National Marine Fisheries Service Locations: Chevron

☆ Prominent Biden loyalists suggest he should step down
▼ + stars: | 2024-06-28 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +7 min

Read previewFor months, Democrats have rallied behind President Joe Biden, insisting that in private moments he is energetic and up for the job. David AxelrodDavid Axelrod, a former Obama staffer, said the GOP will be in trouble if another Democrat replaces Biden as the nominee. He confronted the question on nearly every Democrat's mind: whether Biden should drop out of the race. The Pod GuysThough typically loyal to Biden, the hosts of the hugely popular podcast are saying that Biden should, at the very least, consider stepping aside. Kristof implored the president to leave his successor in the hands of delegates at the Democratic National Convention.

Persons: —, Joe Biden, Biden's, David Axelrod David Axelrod, Biden, Joe Raedle, Obama, Axelrod, Jason Mendez, Getty, Jon Favreau, haven't, Joe Biden —, Dan Pfeiffer, Tommy Vietor, Claire McCaskill, McCaskill, Kamala Harris, Gavin Newsom, Thomas Friedman, Michael Cohen, Friedman, Donald Trump, Harris, Van Jones, Scott Dudelson Van Jones, Jones, Joy Reid, Ben Rhodes, Nicholas Kristof The, Kristof, Gretchen Whitmer, Sen, Sherrod Brown, Gina Raimondo, Alex Thompson Organizations: Service, Democratic National Convention, Business, Obama, GOP, CNN, Democratic, MSNBC, New York Times, Convention, CBS, Getty Locations: America, California

☆ China's EV architect says investing in Europe is a way forward
▼ + stars: | 2024-06-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

HEFEI, China — The man who spearheaded China's electric car strategy on Wednesday said that Chinese investment in the European electric vehicles industry could be a way forward for both sides amid trade tensions. Spokespersons for China's foreign ministry and the European Commission were not immediately available when contacted by CNBC. China's Ministry of Commerce said over the weekend that it was launching consultations with the EU over the bloc's probe into the role of subsidies in Chinese electric cars. The EU said earlier this month that it would increase tariffs on imports of the vehicles. "Even though we are not exporting a large number of EVs, perhaps the Chinese companies can try investing in Europe," Wan said, noting that such funding could create local jobs.

Persons: Wan Organizations: Wan Gang, China Association for Science, Technology, European Commission, CNBC, China's Ministry of Commerce, EU Locations: HEFEI, China, EU, Dalian, Europe

☆ The US Navy's turning to its third carrier strike group as its warships react to Middle East conflicts with no end in sight
▼ + stars: | 2024-06-26 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

The USS Theodore Roosevelt Carrier Strike Group is currently in South Korea, but it will soon depart for the US Central Command area of responsibility. US Navy photo via APA carrier strike group is a naval formation that includes a carrier, its air wing, and several other warships such as cruisers and destroyers. Eisenhower strike groupThe Dwight D. Eisenhower Carrier Strike Group first deployed to the Eastern Mediterranean in October, bringing in more firepower alongside the Ford. Roosevelt strike groupSlated to replace the Eisenhower is the USS Theodore Roosevelt Carrier Strike Group. As for the other crises, the incoming Roosevelt carrier strike group has its work cut out for it.

Persons: —, Theodore Roosevelt Carrier, Gerald R, Ford refuels, Arleigh Burke, Thomas Hudner, Ramage, USS Carney, Roosevelt, Carney, Eisenhower, Dwight D, Ike, Theodore Roosevelt, Kyung, Maj, Pat Ryder, Ryder, Israel Organizations: Service, US Navy, Theodore Roosevelt Carrier Strike, US Central Command, CSG, Business, Pentagon, Ford Carrier Strike Group, AP, Ford, Ticonderoga, Eisenhower Carrier Strike Group, Eisenhower, British, European Command Locations: —, Gaza, South Korea, Gulf of Aden, Israel, Lebanon, Laramie, Normandy, Iran, Persian, Gulf, Aden, Yemen, Busan

☆ Trade feuds aside, Chinese firms are committed to the U.S. market, survey shows
▼ + stars: | 2024-06-26 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

A recent survey of Chinese enterprises in the U.S. has found that a majority remain bullish on the market long term despite growing concerns about U.S.-China relations and the broader business environment. The survey was conducted in April and May of this year, polling nearly 100 Chinese companies across various industries about performance and outlook. The report said Chinese firms remain committed to the U.S. market despite growing negative sentiment about the overall business environment amid rising trade tensions between the world's two largest economies. Over 60% of survey respondents saw a deteriorating business environment in the U.S. Over the past year, the Biden administration has ramped up curbs on Chinese businesses, scrutinizing certain China-dominated industries, placing new sanctions on various Chinese firms and goods and trying to outright block Chinese ownership of certain companies and platforms.

Persons: CGCC, Biden Organizations: Chamber of Commerce Locations: U.S, China

☆ How Gen-Z sports brand Overtime built an 8-figure merch business and is using partnerships to take it to the next level
▼ + stars: | 2024-06-25 | by ( Tiara White | ) www.businessinsider.com time to read: +5 min

The media company first made a name for itself by distributing high-school sports videos, then producing its own shows and operating its own sports leagues. Rutstein, who worked at Adidas and Reebok before Overtime, said the company distinguishes its merch by focusing on quality. Advertisement"When we first started, I said, we're not going to be a media company that just does merch," Rutstein told Business Insider. Advertisement"Through partnerships, we've been able to expand our audience, of course, to these brands that are either legacy or heritage streetwear brands," Rutstein said. Other brands Overtime has partnered with include BAPE, a Japanese clothing brand; PSD Underwear, which makes underwear and activewear; 7-Eleven, a convenience store chain; and Billionaire Boys Club, a fashion label founded by singer-songwriter Pharrell Williams.

Persons: —, Tyler Rutstein, Rutstein, we're, SpongeBob, we've, Pharrell Williams, that's Organizations: Service, Paramount, Business, Adidas, Reebok, Billionaire Boys Locations: merch

☆ A rainbow logo isn't enough: How to find financial institutions that actually care about LGBTQ+ people
▼ + stars: | 2024-06-24 | by ( Ryan Ermey | ) www.cnbc.com time to read: +6 min

Rather, look to work with institutions and individuals that are aware of the community's unique financial needs . Some 3 in 10 LGBTQ+ adults (30.8%) say they experienced discrimination when accessing financial services, according to a recent survey from the Human Rights Campaign . In many cases, parade sponsors and participants include financial institutions, from banks to real estate agencies to investment brokerages. Making that process easier is a career goal for Charles Chaffin, a financial psychologist who founded Affirming Advisor — a program designed to help financial firms better serve LGBTQ+ clientele. Vet the firmIf a financial institution is publicly supportive of the LGBTQ+ community, that's certainly a good start, says Jay.

Persons: We've, Chris Jay, you've, Charles Chaffin, —, Chaffin, you'll, that's, Jay Organizations: Merrill, Human, CFP, LGBT Chamber, Commerce, Realtors, CNBC Locations: Seattle

☆ Trade between the US and Germany is growing. Concerns over China might be driving the shift.
▼ + stars: | 2024-06-24 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Trade between the US and Germany was 63.2 billion euros in the first quarter of 2024, edging out the 60 billion euros of trade between China and Germany, according to data from the German government. AdvertisementElectric vehicles are causing riftsAutomobiles are at the center of a new dispute between China and Germany. Nearly a third of German car sales in 2023 came from China, according to Reuters, leaving the industry vulnerable to a trade war. The slump in German exports to China is a sign of vulnerability in trade relations, according to the FT. In 2022, trade between China and Germany was 50 billion euros greater than that between Germany and the US.

Persons: —, Biden, EVs, Robert Habeck, Habeck, Oliver Rakau, Martin Wolf Organizations: Service, Business, European Union, Bloomberg, European Commission, BMW, Porsche, Volkswagen, Reuters, EU, European Union Chamber of Commerce, Atlantic Council, Oxford Economics, US, Trump, Biden Locations: China, Germany, Russia, Ukraine, West, Beijing, European, materializing, Red, Europe, Brussels

And what everyone sort of expected to happen seems to be roughly what’s happening, which is that the populist right has consolidated a lot of support. So that’s sort of three-dimensional chess of one sort. That gets at the definition of populism, right? michelle cottleYeah, so but that kind of then lends itself to a backlash when you feel like things aren’t going right. carlos lozadaWell, I mean —ross douthatI think that’s all sincere.

Persons: lydia polgreen Ross, carlos lozada, lydia polgreen, michelle cottle, carlos lozada That’s, lydia polgreen That’s, Lydia Polgreen, michelle cottle I’m Michelle Cottle, ross douthat I’m Ross Douthat, carlos lozada I’m Carlos Lozada, We’ve, Ross, michelle cottle Woo, — ross douthat, lydia polgreen —, I’m, ross, — michelle cottle, ross douthat —, ross douthat, Emmanuel Macron, Macron, Silvio Berlusconi, Giorgia, Meloni, Brexit, It’s, populists, ”, Lozada, it’s, don’t, we’ll, that’s, we’ve, JD Vance, He’s, — carlos lozada, polgreen, Trumpist, who’s, Vance, we’re, Trump, — michelle cottle Woo, carlos lozada —, —, decries, — ross, won’t, carlos lozada Well, carlos lozada Don’t, Don’t, it’s — michelle cottle, I’ve, Trumpism, Donald Trump, michelle cottle Huey Long, Carlos, William Jennings Bryan, Michelle, Huey Long, George Wallace, Ross Perot, Pat Buchanan, Bernie Sanders, you’ve, Charles Coughlin, Richard Nixon, Ronald Reagan, Biden, unquote, nobody’s, he’s, JD Vance don’t, Robert Penn, Warren, Long, lydia polgreen Wow, ross douthat — Carlos Lozada, George Packer, lydia polgreen Go, carlos lozada Oh, that’s — carlos lozada —, lydia polgreen We’ll, carlos lozada It’s, lydia polgreen It’s Organizations: “ New York, Trump, Tories, National Health Service, Republican, Social Security, Republican Party, Chamber of Commerce, “ Times, Aspen Ideas, Nebraska Democrat, Tea Party, Occupy, Belt, Star Locations: “, Europe, France, United States, Italy, United Kingdom, South, British, Ohio, Middletown , Ohio, America, Sun Valley, Middletown, Louisiana, Alabama, China, Connecticut, Belt America, Florida , Texas, California, American, Texas, Mexico, Arizona

☆ Wyoming, Delaware, and Montana are the most entrepreneurial states of 2024 so far. It might be due to business-friendly taxes.
▼ + stars: | 2024-06-21 | by ( John Towfighi | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Delaware and Montana are second and third in new business openings per 100,000 residents since the start of 2024. AdvertisementThe boom in business translates to 283 new businesses per 100,000 residents in Wyoming, 153 in Delaware, and 106 in Montana. Wyoming also led the nation in new business applications per capita in 2023, according to the Chamber of Commerce. Business-friendly taxationWyoming, Delaware, and Montana are all particularly attractive to new business owners due to their tax laws. AdvertisementAre you a new small-business owner in Wyoming, Delaware, or Montana?

Persons: —, Louis Fed, LendingTree, Louis, EIG Organizations: Service, Business, Census, Chamber of Commerce, Fed, of Labor Statistics, Louis Fed, Tax Foundation, Washington D.C, Fortune, state's, Corporations, Economic Innovation Group Locations: Wyoming, Delaware, Montana, In Montana, New York City, San Francisco, South Dakota, Nevada, Washington, , Wyoming, West, Wyoming , Delaware

☆ BBC president says there is a lot of anxiety about AI in UK workforce
▼ + stars: | 2024-06-19 | 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 EmailThere is a lot of anxiety about AI in the UK workforce, BCC president saysBaroness Martha Lane Fox, president of the British Chambers of Commerce, discusses the current state of the British workforce.

Persons: Martha Lane Fox Organizations: British Chambers of Commerce Locations: British

☆ The retirement Catch-22
▼ + stars: | 2024-06-18 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +10 min

The current Social Security retirement age is 67, but most Americans depart the workforce earlier than that. Instead of making it easier for Americans to save for retirement and work as long (or as short) as they want, Fink is setting up a catch-22: The economy needs aging Americans to work longer, but many companies simply don't want them. One of Button's studies looked at "bridge jobs , " part-time jobs in administration or retail that many people use to ease into retirement and cushion their finances. The same year, Scripps Medical Clinic in San Diego was ordered to pay $6.9 million for setting a mandatory retirement age for physicians of 70, regardless of the doctors' interest or abilities. And some older workers have heard all the corporate buzzwords and blather before, so they don't buy into management's sloganeering, rendering them "difficult."

Persons: Larry Fink, behemoth BlackRock, Fink, Daniel Ross, Ross, he's, Emily Dickens, SHRM's, We've, Stacie Haller, Patrick Button, Button, ResumeBuilder.com, Gen, we've, Mother Jones, Lilly Organizations: Social Security, Lawyers, Society, Human Resources Management, US Chamber of Commerce, Tulane University, IBM, Employment, Commission, Scripps Medical Clinic, Employers Locations: Down, Texas, Austin, San Diego

☆ Retirement Crisis: Boomers Need to Work Longer, No One Will Hire Them
▼ + stars: | 2024-06-18 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +10 min

In order to avoid economic catastrophe, he argued, people should save more money and work longer. The current Social Security retirement age is 67, but most Americans depart the workforce earlier than that. For one, many older people cannot work because of a disability or because they need to care for someone else with a disability. And some older workers have heard all the corporate buzzwords and blather before, so they don't buy into management's sloganeering, rendering them "difficult." He's asking people who have not yet retired to work longer than their elders did and to save even more money, without changing the systematic barriers to either.

☆ China launches anti-dumping probe into imported EU pork as trade tensions grow
▼ + stars: | 2024-06-18 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Beijing has launched an anti-dumping investigation aimed at certain pork products from the European Union, days after the Brussels raised tariffs on Chinese vehicles. China's Ministry of Commerce announced Monday it had opened an investigation into imported pork and its by-products originating from the EU, including pork offal, pig fat, pig intestines, bladders, and stomachs. The investigation is expected to conclude within 12 months, though it could be extended for a further six months, the ministry said. The European Union Chamber of Commerce in China said the EU pork investigation was Beijing's retaliation for recent tariffs on Chinese EVs. In response to questions, a Chinese commerce ministry official said the probe was first initiated by a formal complaint by a domestic industry group, the China Animal Agriculture Association.

Organizations: European Union, China's Ministry of Commerce, European Union Chamber of Commerce, EU EV, CNBC, China Animal Agriculture Association Locations: Beijing, Brussels, China

☆ China probes European pork prices after EU hikes tariffs on its electric cars
▼ + stars: | 2024-06-17 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Beijing has launched an investigation into prices of pork from the European Union, targeting a major EU food export just days after Brussels hiked tariffs on electric vehicles from China. A hike in import tariffs could be very costly for European pork producers if it ends up hurting demand in China, the world’s largest pork market and the main destination for EU pork exports. The EU is the second-biggest pork producer after China. According to EU customs data, the bloc exported more than €2.5 billion ($2.7 billion) worth of pork, including offal, to China last year. Beijing had been widely expected to use targeted measures to try to dissuade EU officials from permanently adopting higher tariffs on electric cars imported from China, a decision the EU must make by November.

Persons: Olof Gill, Gill, ”, Xu, Maisie Linford Organizations: London CNN —, European Union, China’s Ministry of Commerce, EU, European Commission, World Trade Organization, WTO Locations: London CNN — Beijing, Brussels, China, Beijing, Spain, Netherlands, Denmark, France, Europe

☆ Facing E.V. Tariffs, China Threatens Pork Imports From Europe
▼ + stars: | 2024-06-17 | by ( Keith Bradsher | ) www.nytimes.com time to read: +1 min

China on Monday threatened to impose tariffs on pork imports from Europe, in what appeared to be retaliation for the European Union’s decision last week to impose preliminary tariffs on electric cars imported from China. China’s Ministry of Commerce announced that it had opened an investigation into whether pork from the European Union was being dumped in China at unfairly low prices. The case could result in tariffs on dozens of products, from pork chops to pickled pig intestines. The European Union had no immediate comment on the Chinese action. By choosing pork imports as the apparent payback for the electric vehicle tariffs, China is turning to a playbook it followed during its last major trade fight with the European Union over a decade ago.

Organizations: China’s Ministry of Commerce, European, China Animal Agriculture Association, European Union Locations: China, Europe, European Union

☆ Can A.I. Answer the Needs of Smaller Businesses? Some Push to Find Out.
▼ + stars: | 2024-06-17 | by ( Sydney Ember | ) www.nytimes.com time to read: 1 min

The goal was to demystify the technology for the chamber’s roughly 2,000 members, especially its small businesses. “My sense is not that people are wary,” said Ralph Schulz, the chamber’s chief executive. “They’re just unclear as to its potential use for them.”When generative A.I. surged into the public consciousness in late 2022, it captured the imagination of businesses and workers with its ability to answer questions, compose paragraphs, write code and create images. Analysts projected that the technology would transform the economy by driving a boom in productivity.

Persons: ”, Ralph Schulz, “ They’re Organizations: Commerce Locations: Nashville

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