DIRS.INFO The most relevant business & tech news

☆ Want to Enjoy Music More? Stop Streaming It.
▼ + stars: | 2023-09-19 | by ( Denise Lu | ) www.nytimes.com time to read: +2 min

In 2023, I’m still building a non-streaming music collection, shelling out hard cash for what the streaming industry has convinced consumers should be free. I know it’s a privilege for me to pooh-pooh streaming — after all, for those with less disposable income than I have, it offers access to enormous music libraries at little to no cost. I was still using iTunes until 2019, when Apple decided to sunset the app and replace it with a new media player called Music (not to be confused with Apple Music, the streaming service). Once I add something to my iTunes library, I have it forever. at my college’s radio station, where we shared files and browsed the station’s racks for CDs we could rip, all to fatten up our iTunes libraries.

Persons: I’m, There’s, I’ve Organizations: Apple, iTunes, Spotify, Apple Music

REUTERS/Lucas Jackson/File Photo Acquire Licensing RightsCompanies Starbucks Corp FollowNEW YORK, Sept 18 (Reuters) - Starbucks (SBUX.O) was ordered by a federal judge on Monday to face a lawsuit claiming that several of its Refresher fruit beverages lacked a key ingredient: fruit. Consumers complained that Starbucks' Mango Dragonfruit, Mango Dragonfruit Lemonade, Pineapple Passionfruit, Pineapple Passionfruit Lemonade, Strawberry Açai and Strawberry Açai Lemonade Refreshers contained none of the advertised mango, passion fruit or açai. The judge dismissed a fraud claim, finding no proof Starbucks intended to defraud consumers, and an unjust enrichment claim. Starbucks in a statement called the allegations in the lawsuit "inaccurate and without merit," and said it looked forward to defending itself. The case is Kominis et al v Starbucks Corp, U.S. District Court, Southern District of New York, No.

Persons: Lucas Jackson, John Cronan, Joan Kominis, Jason McAllister, Cronan, Robert Abiri, Jonathan Stempel, Aurora Ellis, Richard Chang, William Maclean Organizations: REUTERS, Companies Starbucks Corp, District, Starbucks, Consumers, Honey Citrus, Starbucks Corp, Court, Southern District of, Thomson Locations: Brooklyn, New York, U.S, Manhattan, Astoria , New York, Fairfield , California, Seattle, Southern District, Southern District of New York

☆ Multiple crises batter Washington and set up a fateful 2024 election
▼ + stars: | 2023-09-18 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

The octogenarian president is increasingly coming under scrutiny over his ability to serve a full second term if he wins in November 2024. But the trauma seizing Washington will soon intrude, transfixing the nation in a tumultuous 2024 election. The turmoil in the Republican Party is creating the kind of dysfunction and extremism that could turn off general election voters next year. In more placid times, the auto strike would be a dominant national issue defining a fraught political moment. But it’s just one of many crises threatening to overwhelm a political system that appears on the verge of a serious malfunction.

Persons: Donald Trump, Joe Biden’s, – Trump, Biden, Hunter’s, Kevin McCarthy, It’s, Washington’s, Volodymyr Zelensky, Trump, Zelensky, Vladimir Putin “, – Biden, tailgated, ”, McCarthy, Matt Gaetz, “, Kevin, ” Gaetz, demagogue, Jack Smith, Tanya Chutkan, David Weiss, Hunter Biden, Trump’s, Hunter, –, David Ignatius, Kamala Harris, it’s Organizations: CNN, Republicans, White, Republican, Trump Republicans, Senate, GOP, Hollywood, Press, NBC, Caucus, Florida GOP, Sunday, Fox News . House Republicans, Republican Party, Trump, United Auto Workers, Big Three, Biden Locations: American, China, Ukraine, Washington, Russian, Rosh

☆ Australian Indigenous Voice: Three generations of First Nations men share their views on Australia's referendum
▼ + stars: | 2023-09-18 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +7 min

Now 94, Anderson says a Yes vote isn’t just important for him but the country. “By talking and walking together as a nation and as a society, we will share a common destiny,” he said. Wharton said he wants “liberation, freedom and restitution” delivered through negotiation by the hundreds of Aboriginal nations with people occupying their land. Nick Harvey-Doyle is studying in New York and is calling for a Yes vote. Sykes, who died in 2010, was the first Black Australian to study at Harvard, and fought for a Yes vote in the 1967 Referendum.

Persons: Uncle Bob Anderson, Elder, ”, Anderson, Hilary Whiteman, Wayne Wharton, “, Wharton, “ I’ve, ” Wharton, Nick Harvey, Doyle, Elder Anderson, that’s, Doyle Harvey, Roberta Sykes, Sykes, Harvey, don’t, aren’t, Jonathan PIlkington, they’ll, what’s, he’s Organizations: Australia CNN —, First Nations, Nations, CNN, Aboriginal, Brooklyn, New York, New York University, Australian, Harvard, Australian Voice, Australian Electoral Commission, Torres Strait Locations: Brisbane, Australia, New York, New South Wales

☆ Brazil's President Calls U.S. Economic Embargo on Cuba 'Illegal,' Condemns Terrorist List Label
▼ + stars: | 2023-09-16 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

And to this day it is the victim of an illegal economic embargo," Lula said in a speech opening the G77 Summit of developing nations in the capital, Havana. The comments were made just hours before Lula left for New York, where he will attend the United Nations General Assembly and have bilateral talks with Biden. Earlier, Cuba expressed concerns over the label and Washington’s decades-old Cold War-era economic embargo against the island governed by the Communist Party of Cuba. Cuba and critics of the economic sanctions say the embargo prevents and hampers access to food, medicine and other critical development supplies. In 2019, during the first year of right-wing Jair Bolsonaro's administration, Brazil voted against the motion along with the United States and Israel.

Persons: Luiz Inacio Lula da Silva, Donald Trump, Biden, Lula, Lisandra Paraguassu, Steven Grattan, Aurora Ellis Organizations: Reuters, Former U.S, Trump, United Nations General Assembly, Communist Party of Cuba, European Union, U.S . State Department, United Nations Locations: BRASILIA, Cuba, United States, Havana, Brazil, New York, Israel, Paris

NAPA, Calif. (AP) — Justin Thomas continued up the leaderboard Saturday at the Fortinet Championship with a 7-under 65 that matched the best score of the day and moved the former No. Kim had shared the lead with Theegala heading into the third round at Silverado Resort, but had to scramble after consecutive bogeys on the back nine. “I really stayed patient at the start of the round,” Theegala said. Kuchar drew the most attention following his best round of the tournament. Kuchar had his best day of the tournament off the tee, hitting eight of 14 fairways which led to him getting to the greens for easier putts.

Persons: — Justin Thomas, Sahith Theegala, Cam Davis birdied, Thomas, S.H, Kim, Matt Kuchar, Eric Cole, “, ” Thomas, I’ve, Theegala, Kuchar, birdies, ” Theegala, Max Homa, ” Kuchar Organizations: Silverado, U.S, Ryder, FedEx Locations: NAPA, Calif

☆ Brazil's president calls U.S. economic embargo on Cuba 'illegal,' condemns terrorist list label
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +3 min

Persons: Luiz Inacio Lula da Silva, Donald Trump, Biden, Lula, Lisandra Paraguassu, Steven Grattan, Aurora Ellis Organizations: Former U.S, Trump, United Nations General Assembly, Communist Party of Cuba, European Union, U.S . State Department, United Nations, Thomson Locations: BRASILIA, Cuba, United States, Havana, Brazil, New York, Israel, Paris

☆ Biden Can’t Resist the ‘River of Power’
▼ + stars: | 2023-09-15 | by ( Peggy Noonan | ) www.wsj.com time to read: +1 min

Peggy Noonan is an opinion columnist at the Wall Street Journal where her column, "Declarations," has run since 2000. She has been a fellow at Harvard University’s Institute of Politics, and has taught in the history department at Yale University. Before entering the Reagan White House, Noonan was a producer and writer at CBS News in New York, and an adjunct professor of Journalism at New York University. She was born in Brooklyn, New York and grew up there, in Massapequa Park, Long Island, and in Rutherford, New Jersey. In November, 2016 she was named one of the city's Literary Lions by the New York Public Library.

Persons: Peggy Noonan, ”, ” Noonan, Ronald Reagan, Noonan Organizations: Wall, Journal, NBC News, The, Harvard University’s Institute of Politics, Yale University, Reagan White House, CBS News, Journalism, New York University, Fairleigh Dickinson University, Lions, New York Public Library Locations: New York, Brooklyn , New York, Massapequa Park, Long, Rutherford , New Jersey, Rutherford, New York City

☆ Women are likely to face financial curveballs in retirement — including one potentially life-destroying event
▼ + stars: | 2023-09-15 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

A majority of female retirees, 81%, have experienced at least one such unexpected financial event, versus 69% of men. Retired women are also more likely to face other shocks, including the death of another family member or close friend, suffering a financial setback or becoming a caregiver. Women are more likely to be caregivers for familyMoreover, a majority of unpaid family caregivers are women. Women are more likely to take on those responsibilities when they may not have enough saved for their own retirement, she said. Half of women said they are behind on retirement savings, versus just 35% of men, according to a 2022 Goldman Sachs report.

Persons: There's, Edward Jones, Lena Haas, Haas, Heather Ettinger, Ettinger, Goldman Sachs Organizations: AARP, Fairport Wealth, Social Security Locations: Cleveland , Ohio

HONG KONG (AP) — China's Commerce Ministry has protested a decision by the European Union to investigate exports of Chinese electric vehicles, saying Thursday that it is a “protectionist” act aimed at distorting the supply chain. The EU announced Wednesday it will probe government subsidies provided to Chinese automakers that the EU contends keep EV prices artificially low. China has become the biggest market for electric vehicles after investing billions in subsidies to gain an edge. “It’s naked protectionist behavior that will seriously disrupt and distort the global automotive industrial chain and supply chain including the European Union, and will have a negative impact on China–EU economic and trade relations,” he said. Cui urged the EU to take an “objective view of the development of China’s electric vehicle industry” instead of using what he said are economic and trade tools to increase the costs of Chinese electric vehicles in Europe.

Persons: Yadong, “, ”, Cui Dongshu, ” Cui, Cui Organizations: —, Commerce, European Union, EU, China Passenger Car Association Locations: HONG KONG, China, EVs, Japan, Europe, Beijing, EU

Yes to life" take part in a anti-lithium protest in Covas do Barroso, Portugal, August 15, 2023. With 60,000 tonnes of known reserves, Portugal is already Europe's biggest producer of lithium, traditionally mined for ceramics. Referring to the Barroso project and another in France, he said it would be "a disaster if either ... doesn't succeed". But with only 15 of 916 submissions in a public consultation supporting the project, Savannah faces a struggle to win over locals who have said they will fight it and the APA in court. "Politicians listen to those who shout loudest and have most money - and that's the mining industry," she said.

Persons: Catarina Demony, Maria Loureiro, Loureiro, Barroso, Martin Jackson, , Savannah's, Michael Schmidt, doesn't, Schmidt, Nelson Gomes, Greta Thunberg, Karin Kvarfordt Niia, LKAB's, Anders Lindberg, UDCB's Catarina Alves Scarrott, Aida Fernandes, Barroso's, Dale Ferguson, Ferguson, Emanuel Proenca, Teresa Camille, Gunilla Hogberg Bjorck, Miguel Pereira, Covas do Barroso, Pietro Lombardi, Simon Johnson, Aislinn Laing, Catherine Evans Organizations: REUTERS, Savannah Resources, DO BARROSO, EU, Agriculture Organization, CRU, APA, State, Barroso, Reuters, UDCB, Thomson Locations: Covas do Barroso, Portugal, Barroso, China, London, Savannah, Europe, France, Kiruna, Sweden's, Montalegre, Scarrott, Portuguese, EUROPE, Chile, Covas, Karr, Covas do, Madrid, Stockholm

Suspended Michigan State football coach Mel Tucker said Monday that allegations of sexual harassment against him are “completely false” and the intimate phone call he had with activist and rape survivor Brenda Tracy is outside the scope of both Title IX and school policy. Michigan State athletic director Alan Haller suspended Tucker without pay Sunday, less than 24 hours after Tracy's allegations became public in a USA Today report. Political Cartoons View All 1152 ImagesThe university hired a Title IX attorney to investigate Tracy’s complaint and the investigation concluded July 25. A hearing is scheduled for the week of Oct. 5 to determine if Tucker violated the school’s sexual harassment and exploitation policy. The school also was able to suspend Tucker, without pay, if he “materially breaches” his contract.

Persons: Mel Tucker, Brenda Tracy, Tucker, Tracy, ”, Larry Nassar, Nassar, Alan Haller, ” Tucker, “ Ms, ” Tracy, Tucker masturbated, “ Organizations: Michigan State, Education Department, USA, Michigan State’s, AP Locations: Detroit, Michigan

☆ Biden’s Fibs Are a 20th-Century Throwback
▼ + stars: | 2023-09-08 | by ( Peggy Noonan | ) www.wsj.com time to read: +1 min

☆ What Is the 50/30/20 Rule?
▼ + stars: | 2023-09-07 | by ( Kevin J. Ryan | ) www.wsj.com time to read: +7 min

Perhaps the most popular method is the 50/30/20 rule, which is a simple and effective way to take control of your money. The 50/30/20 budget rule was popularized by Sen. Elizabeth Warren—then a Harvard Law professor—and her daughter, Amelia Warren Tyagi, in their 2006 book “All Your Worth: The Ultimate Lifetime Money Plan.” They called it a “good rule of thumb” for getting your budget in order. What is the 50/30/20 rule? Alternatives to the 50/30/20 budget methodOf course, no one budgeting method is for everyone. For example, like the 50/30/20 rule, the 70/20/10 rule also divides your after-tax income into three categories but differently: 70% for monthly spending (including necessities), 20% for savings and for 10% donations and debt repayment above the minimums.

Persons: Kevin J, Ryan, Sen, Elizabeth Warren —, —, Amelia Warren Tyagi, “ It’s, ”, Akeiva Ellis, Greg Giardino, “, “ You’ve, You’ve, Austin, Jordan Benold, that’s, it’s, There’s Organizations: Harvard Locations: Tarrytown, N.Y, San Francisco, New York, Frisco , Texas, you’ll

☆ A mayor told the investors who want to build a new city in her backyard to 'take their billions of dollars and go back down to Silicon Valley'
▼ + stars: | 2023-09-02 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Moy told Bloomberg she would "do everything we can to stop" Flannery Associates' plans. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Moy told Bloomberg that "this is no way to go about any kind of development," adding: "We're going to do everything we can to stop this." The Silicon Valley elites have purchased about 52,000 acres of land around Travis Air Force Base since 2018, leaving "no part that isn't touched by Flannery," Moy told ABC 7 News. Speaking to CNBC about the Flannery plan, Moy said the Air Force base "can't function" with a settlement encroaching on it.

Persons: Catherine Moy, Moy, Flannery, John Garamendi, Solano County's, Marc Andreessen, Reid Hoffman, Laurene Powell Jobs, Steve Jobs Organizations: Solano, Bloomberg, Service, Daily, Flannery Associates, New York Times, Travis Air Force Base, ABC, CNBC, Air Force Locations: Fairfield, Wall, Silicon, California, Solano County, San Francisco

☆ My Summer With Leo Tolstoy
▼ + stars: | 2023-09-01 | by ( Peggy Noonan | ) www.wsj.com time to read: +1 min

☆ AI is killing the grand bargain at the heart of the web. 'We're in a different world.'
▼ + stars: | 2023-08-30 | by ( Kali Hays | Alistair Barr | ) www.businessinsider.com time to read: +14 min

AdvertisementAdvertisementAI is undermining the web's grand bargain, and a decades-old handshake agreement is the only thing standing in the way. Now, though, generative AI and large language models are changing the mission of web crawlers radically and rapidly. Without a supply of potential consumers, there's little incentive for content creators to let web crawlers continue to suck up free data online. It's also open to manipulation, especially given the voracious appetite for quality AI data. Because robots.txt is voluntary, web crawlers can also simply ignore the blocking instructions and siphon the information from a site anyway.

Persons: Microsoft's Bing, Joost de Valk, It's, de Valk, Nick Vincent, Valk, OpenAI, robots.txt, Jason Schultz, Catherine Stihler, Archie, NYU's Schultz, Steven Sinofsky, who's, Andreessen Horowitz, De Valk, Stihler Organizations: Big Tech, Google, Wordpress, NYU's Technology, Policy Clinic, AWS, Creative Commons, Creative, Microsoft, Nvidia, Star Wars, DC Comics, Warner Brothers, Marvel, Disney, Atlantic, Meta Locations: CCBot, EleutherAI

☆ The US Copyright Office just took a big step toward new rules for generative AI
▼ + stars: | 2023-08-30 | by ( Kali Hays | ) www.businessinsider.com time to read: +5 min

The US Copyright Office is taking a big step toward new rules for generative AI. AdvertisementAdvertisementThe US Copyright Office is inching closer to creating new rules and regulations around generative AI and how the technology uses the work of authors and other creators. In the government rule-making process, a public comment period typically happens before a final rule is proposed and adopted. The major tech companies behind these generative AI tools use the crawled data to train their models without paying the creators who produced the original content. More online businesses are slowly becoming aware of the degree to which the web is being scraped for the benefit of generative AI.

Persons: OpenAI's ChatGPT, Google Bard, Andreessen Horowitz, Bard Organizations: Morning, US, Google, Microsoft, Meta, New York Times, CNN, Office, Hollywood

☆ A mystery company backed by Silicon Valley billionaires has purchased tens of thousands of acres of land for more than $800 million to build a new city near San Francisco
▼ + stars: | 2023-08-26 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

A company called Flannery Associates has been purchasing land in a county near San Francisco. The company, Flannery Associates, has spent $800 million to purchase thousands of acres of farmland in Solano County, which sits northeast of San Francisco, court documents obtained by Insider show. But the spending price has since soared, with Flannery spending up to $15,000 per acre, lawyers for Flannery Associates said in court documents. Attorneys for Flannery Associates and the landowners did not respond to a request for comment outside of working hours. AdvertisementAdvertisementMusk recently purchased 3,500 acres of land outside of Austin, Texas, to build a town he intends to call "Snailbrook."

Persons: Flannery, Marc Andreessen, Laurene Powell Jobs, Catherine Moy, Jan Sramek, Goldman Sachs, Powell Jobs, Michael Moritz of, Reid Hoffman, Moritz, Y, We're, Bill Gates, Elon Musk Organizations: Service, Silicon, The New York Times, Flannery Associates, Street Journal, Travis Air Force Base, Air Force Base Google, ABC, Times, Michael Moritz of Sequoia Capital, LinkedIn, Solano County Google, The Times, Tech Locations: San Francisco, Wall, Silicon, California, Solano County, Fairfield, Real, Austin , Texas, Colorado

☆ Opinion: Trump indictment in Georgia on RICO charges sets a dangerous precedent
▼ + stars: | 2023-08-25 | by ( Opinion David Orentlicher | Eve Hanan | ) edition.cnn.com time to read: +8 min

Eve Hanan Courtesy Eve HananNot surprisingly, there are other criminal laws that are straightforward and appropriate to invoke against Trump. But Willis doesn’t stop there, and her invocation of RICO charges in particular raises concerns. To justify her RICO charges against Trump, Willis must point to particular acts by the former president that advanced the alleged criminal enterprise. But criminal law is designed to punish individual, not collective, guilt. By using RICO, Willis has given the defendants a potential prison sentence of five to 20 years.

Persons: David Orentlicher, Jack, Lulu Lehman, William S, Eve Hanan, Donald Trump’s, Trump, David Orentlicher R, Marsh Starks, Fani Willis, Jack Smith, He’s, Smith, Willis, Willis doesn’t, Young Thug, Jeffery Lamar Williams, Williams, Willis ’ Organizations: Boyd School of Law, University of Nevada, Democrat, Nevada Assembly, CNN, UNLV, Services, Trump, White, America News Network, Twitter, Facebook Locations: Las Vegas, Nevada, Georgia, Fulton County, Arizona , Georgia, Michigan, Nevada , New Mexico, Pennsylvania, Wisconsin, Miami, New York, “ Georgia

☆ The CEO of an investment research firm who correctly called the crashes of Coinbase and Snap warns that Nvidia trades at a 'ridiculously high' valuation and is almost 400% above fair value. Here are 3
▼ + stars: | 2023-08-24 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Nvidia has captured the hearts of investors, but at least one market veteran refuses to show the artificial intelligence pioneer any love. "Nvidia is the stock market's new Tesla, where the market blindly assigns a ridiculously high and unrealistic valuation," Trainer wrote in an email to Insider on August 24. Trainer continued: "Investors should not be chasing Nvidia stock, as it is way too expensive. "While we recognize that artificial intelligence is an exciting technology and Nvidia is a great company, investors must pay attention to a company's valuation," Trainer wrote. To live up to its current valuation, Nvidia would have to increase revenue by 20% per year for the next 25 years, the investment research firm CEO wrote.

Persons: Nvidia's, David Trainer, We're, SIMO Organizations: Nvidia, Bank of America, Rosenblatt Securities, KLA Corporation, Motion Technology Locations: Santa Clara, Nashville

☆ Market downturn could be a buying opportunity, chart analyst Katie Stockton says
▼ + stars: | 2023-08-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Stocks are coming off a losing week as they suffer through the summer doldrums, but it could be a buying opportunity for investors, according to chart analyst Katie Stockton. She sees it as "a corrective phase, something that should yield a buying opportunity." The S & P 500 is down more than 4% in August, as concern over higher rates for longer and a slowdown in China hamper investor sentiment. That's significant, she explained, because it gives investors a time frame for what to expect from this corrective phase. For the broad market S & P 500 , she takes the next key level of support from the index's February resistance of 4,195.

Persons: Stocks, Katie Stockton, CNBC's, it's, Stockton Locations: China

☆ Many young unmarried couples don’t split costs equally. Experts weigh in on what's 'fair'
▼ + stars: | 2023-08-15 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

Millennial couples are more likely to live together, with 65%, versus 37% of Gen Z couples. More than half of couples, 54%, said finances were part of their decision to move in together. Half of couples don't split the mortgage or rent equally, and 39% do not split pet costs equally, the survey found. Experts say the survey results underscore that when it comes to sharing expenses, equal isn't always equitable, or fair. "I think it's almost not fair to split finances 50-50 without taking into account your partner's financial situation," said Daigle, who is also a member of the CNBC Financial Advisor Council.

Persons: Gen Z, Michael Kraus, Cathy Curtis, Curtis, Sophia Bera Daigle, Daigle, Carli Blau, Blau, Kraus, Couples Organizations: Istock, Getty, of Psychology, Finance, Yale University, Curtis Financial, CNBC, Society Locations: U.S, Oakland , California, Austin , Texas, New York

☆ A North Florida congressional district that was held by a Black Democrat before it was dismantled by Ron DeSantis could be restored in 2024 under a new agreement
▼ + stars: | 2023-08-13 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

An agreement could potentially restore a North Florida House dismantled by DeSantis, per Politico. The agreement wouldn't end the litigation over DeSantis' map, but would limit the scope of arguments against the lines. Ron DeSantis, who's currently running for the 2024 Republican presidential nomination, wasn't satisfied, submitting a map that dismantled the plurality-Black congressional district of then-Democratic Rep. Al Lawson. But an ongoing legal challenge to the state's congressional maps has produced an agreement that could restore Lawson's North Florida district for the 2024 election, according to Politico. Another lawsuit involving the congressional maps is currently in federal court.

Persons: Democrat Al Lawson, Ron DeSantis, who's, wasn't, Al Lawson, Olivia Mendoza, DeSantis, Cord Byrd Organizations: Florida House, DeSantis, Politico, Democrat, Service, Republican, Democratic, Florida Supreme, GOP, National Redistricting Foundation, Black, Gov, Florida Republican, League of Women Voters Locations: Florida, Wall, Silicon, Lawson's, Orlando, Tampa Bay

The order is aimed at preventing American capital and expertise from helping China develop technologies that could support its military modernization and undermine U.S. national security. China said on Thursday it is "gravely concerned" about the order and that it reserves the right to take measures. The White House said Biden consulted allies on the plan and incorporated feedback from Group of Seven nations. "Today the United States is taking a strategic first step to ensure American investment does not go to fund Chinese military advancement." Last year, total U.S.-based venture-capital investment in China plummeted to $9.7 billion from $32.9 billion in 2021, according to PitchBook data.

Persons: Joe Biden, Elizabeth Frantz, Biden's, Biden, Chuck Schumer, Marco Rubio, Emily Benson, David Shepardson, Andrea Shalal, Stephen Nellis, Max Cherney, Krystal Hu, Karen Freifeld, Idrees Ali, Liz Lee, Lincoln, Jonathan Oatis, Cynthia Osterman, Michael Perry Organizations: White, REUTERS, Wednesday, U.S, Treasury, Biden, Chinese Commerce Ministry, Seven, Democratic, Republicans, REPUBLICAN, The Semiconductor Industry Association, Center for Strategic, International Studies, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S, Japan, Netherlands, United States, Washington, Beijing

Search resuls for: "of Fair"

25 mentions found