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Chinese President Xi Meets With US Executives as Investment Wanes

BEIJING — China’s President Xi Jinping met American business leaders at the Great Hall of the People in Beijing on Wednesday, as the government tries to woo back foreign investors and international firms seeking reassurance about the impact of new regulations.  Beijing wants to boost growth of the world’s second-largest economy after foreign direct investment shrank 8% in 2023 amid heightened investor concern over an anti-espionage law, exit bans, and raids on consultancies and due diligence firms.  Xi’s increasing focus on national security has left many companies uncertain where they might …


Chinese Leader to Dutch PM: Restricting Technology Access Won’t Stop China’s Advance

BEIJING — Chinese leader Xi Jinping told visiting Dutch Prime Minister Mark Rutte on Wednesday that attempts to restrict China’s access to technology will not stop the country’s advance.  The Netherlands imposed export licensing requirements in 2023 on the sale of machinery that can make advanced processor chips. The move came after the United States blocked Chinese access to advanced chips and the equipment to make them, citing security concerns, and urged its allies to follow suit.  An online report from state broadcaster CCTV did not mention the chip machinery, but …


Vietnamese Automaker VinFast to Start Selling EVs in Thailand

Bangkok — Vietnamese automaker VinFast announced Tuesday that it plans to sell its electric vehicles in Thailand and said it had tied up with auto dealers to open showrooms in the country. VinFast, which only began exporting its EVs last year, faces stiff competition in Thailand from Chinese automakers like BYD. Tesla also recently entered the fray. All were displaying their latest models at the Bangkok International Motor Show. The Thai EV market is small but growing fast, buoyed by incentives and subsidies from the government. The country of more than …


US Aims to Tap Domestic Lithium Supply Without Chinese Products

washington — Earlier this month, the U.S. Department of Energy announced a record conditional loan of $2.26 billion to tap the largest known lithium reserves in North America. The loan is an important step in an effort by the U.S. government to reduce reliance on China for the metal used to make batteries. Analysts, however, say that it may be too late to move away from reliance on China completely when it comes to metal processing and the production of batteries. The DOE’s Loan Programs Office (LPO) says the funds, if …


Critics Slam Apple CEO Tim Cook for Laudatory Remarks in China

 Washington — Tim Cook, CEO of the American technology giant Apple, is facing criticism at home over laudatory remarks he made about China during a recent visit to try to boost sagging iPhone sales in the lucrative market.  Cook was in Shanghai for the opening of China’s largest Apple retail store on Friday and met with Chinese political and business people. He praised China for being “so vibrant and so dynamic,” in remarks widely quoted by state media and Foreign Ministry spokesperson Hua Chunying.    The new Apple store took seven …


Florida’s Governor Signs One of Country’s Most Restrictive Social Media Bans for Minors

TALLAHASSEE, Florida — Florida will have one of the country’s most restrictive social media bans for minors — if it withstands expected legal challenges — under a bill signed by Republican Florida Governor Ron DeSantis on Monday.  The bill will ban social media accounts for children under 14 and require parental permission for 15- and 16-year-olds. It was slightly watered down from a proposal DeSantis vetoed earlier this month, a week before the annual legislative session ended. The new law was Republican Speaker Paul Renner’s top legislative priority. It takes effect …


TikTok Bill Faces Uncertain Fate in Senate

WASHINGTON — The young voices in the messages left for North Carolina Senator Thom Tillis were laughing, but the words were ominous. “OK, listen, if you ban TikTok I will find you and shoot you,” one said, giggling and talking over other young voices in the background. “I’ll shoot you and find you and cut you into pieces.” Another threatened to kill Tillis, and then take their own life. Tillis’s office says it has received around 1,000 calls about TikTok since the House passed legislation this month that would ban the …


Iran’s Currency Hits Record Low

Tehran — Iran’s currency fell to a record low on Sunday, plunging to 613,500 to the dollar, as its people celebrated the Persian New Year.  On Sunday, people were trying to exchange rials for foreign currency at Tehran’s main hub of exchange shops in Ferdowsi Street, but most were closed due to the Nowruz holidays, which are run from March 20 to April 2.  Mohsen, a 32-year-old employee at one of the exchange shops, said the holiday was contributing to the low prices, “The price is not real, the demand for …


China’s Renewables, Oil Consumption Fit Gulf States, Analysts Say

Tel Aviv, Israel — During China’s annual national legislature this month, Premier Li Qiang announced plans to construct more solar and wind farms as well as hydropower projects. China is already the world’s largest producer of renewable energy and also holds near-monopolies on the globe’s renewable energy manufacturing and supply chain. Last year alone China produced more solar panels than the U.S. has ever produced in total. China’s dominance in electric vehicle battery components and solar power panels has rattled Western governments, including those of the European Union and the United …


Cocoa Prices Triple in One Year as Climate Change Hits Crops

Nairobi, Kenya — With a week until Easter, chocolate lovers should brace themselves for higher prices when they purchase their favorite seasonal treats. A nonprofit environmental group says cocoa costs three times more than it did a year ago because of climate change and the El Nino weather effect. Prices reached $8,000 per ton this week, compared with $2,500 last year at this time. Amber Sawyer, a climate and energy analyst at the Energy and Climate Intelligence Unit, or ECIU, a U.K.-based nonprofit group, said the volatile weather patterns in the …


At UN, Nations Cooperate Toward Safe, Trustworthy AI Systems

United Nations — The U.N. General Assembly adopted by consensus Thursday a first-of-its-kind resolution addressing the potential of artificial intelligence to accelerate progress toward sustainable development, while emphasizing the need for safe, secure and trustworthy AI systems. The initiative, led by the United States, seeks to manage AI’s risks while utilizing its benefits. “Today as the U.N. and AI finally intersect, we have the opportunity and the responsibility to choose as one united global community to govern this technology rather than to let it govern us,” said U.S. Ambassador Linda Thomas-Greenfield. …


Reddit, the Self-Anointed ‘Front Page of the Internet,’ Jumps 55% in Wall Street Debut

NEW YORK — Reddit soared in its Wall Street debut as investors pushed the valued of the company close to $9 billion seconds after it began trading on the New York Stock Exchange. Reddit, which priced its IPO at $34 a share, debuted Thursday afternoon at $47 a share. The going price has climbed even higher since, with shares for the self-anointed “front page of the internet” soaring more than 55% as of around 1:20 p.m. ET. The IPO will test the quirky company’s ability to overcome a nearly 20-year history …


US Takes On Apple in Antitrust Lawsuit

Washington — The U.S. Department of Justice on Thursday sued Apple, the first major antitrust effort against the iPhone maker by the Biden administration, alleging it monopolized smartphone markets.   Apple joins a list of major tech companies sued by U.S. regulators, including Alphabet’s  Google, Meta Platforms and Amazon.com across the administrations of both former President Donald Trump and President Joe Biden. “Consumers should not have to pay higher prices because companies violate the antitrust laws,” Attorney General Merrick Garland said in a statement. “If left unchallenged, Apple will only continue …


Biden Administration Unveils Strict Auto Standards to Speed Electric Shift 

New York — President Joe Biden’s administration announced Wednesday revised pollution standards for cars and trucks meant to accelerate the U.S. auto industry’s shift to electric to mitigate climate change. The rules set ambitious emission reductions for 2032 but are moderated somewhat compared with preliminary standards unveiled last April. Following carmaker criticism, the final rules give manufacturers greater flexibility and ease the benchmarks in the first three years. Those shifts were criticized as a sop to corporations from at least one environmental group, even as the final rule won praise from …


Biden to Tout Government Investing $8.5 Billion in Intel’s Computer Chip Plants in Four States  

Washington — The Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico and Oregon.  President Joe Biden plans to talk up the investment on Wednesday as he visits Intel’s campus in Chandler, Arizona, which could be a decisive swing state in November’s election. He has often said that not enough voters know about his economic policies and suggested that more would support him if they did know.  Commerce Secretary …


Efforts by US to Crack Down on TikTok Spark Backlash Against Israel

Washington — The initial backlash came quickly. Within hours of last week’s vote in the House of Representatives approving legislation that could lead to a ban of the popular TikTok app in the United States, anger and outrage poured onto multiple social media platforms. Some of the anger targeted U.S. lawmakers who supported the bill. Some focused on China. And a number of social media accounts, some with large followings, put the blame on Israel and pro-Jewish groups in the United States. “A foreign government is influencing the 2024 election,” Briahna …