AFP Beijing, China ● Wed, June 29, 2022 2022-06-29 17:50 0 76b99ae81be4b2e052851b8c965559a5 2 Asia and Pacific G7,China,US,division,Trade,criticism Free China accused Group of Seven countries on Wednesday of irresponsibly sowing division after the forum condemned Beijing's trade practices in an end-of-summit statement. G7 leaders had slammed China's "non-transparent and market-distorting" international trade tactics on Tuesday, in a statement that also vowed to reduce "strategic dependencies" on the Asian giant. Chinese foreign ministry spokesman Zhao Lijian on Wednesday hit back at the criticism, saying the statement showed the allies were "keen to create divisions and confrontations without any sense of responsibility or morality". The G7 should "advance globalisation" rather than encourage division "at a critical time for the international community fighting the pandemic and striving for economic recovery," Zhao said at a regular press … [Read more...] about China accuses G7 of ‘creating division’ over trade criticism
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Tesla Analysts Slash EV Delivery Forecasts After Turbulent China Quarter
Share to Twitter Share to Linkedin Tesla began the second quarter on a tear after starting 2022 with its biggest profit and highest vehicle deliveries in company history, fueled by booming China business. But a severe Covid-related lockdown there that continued until this month, along with startup pains at the electric-car maker’s newest plants, has analysts slashing their forecasts for global delivery numbers it’s expected to report within the next few days. The Austin-based company, which typically posts delivery and production numbers a day or two after the quarter ends, may report delivering about 258,000 EVs to customers worldwide, the average of analysts surveyed by Forbes . While that would be up 28% year over year, it’s down 17% sequentially from a record 310,048 deliveries in the first quarter, despite the addition of new factories in Germany and Texas. It’s also 18% below a consensus estimate of 315,000 deliveries at the start of the quarter. … [Read more...] about Tesla Analysts Slash EV Delivery Forecasts After Turbulent China Quarter
Cooperation by U.S. and allies a step toward ‘Asian NATO,’ N.Korea media says
Members of South Korea and U.S. Special forces take part in a joint military exercise. - A + A SEOUL (June 29): Joint drills by the United States, South Korea and Japan have a "sinister aim" toward North Korea and are part of a dangerous prelude to the creation of an "Asian version of NATO", North Korean state news agency KCNA said on Wednesday. The reports on KCNA appeared hours before leaders of South Korea and Japan are due to attend NATO's annual summit as observers for the first time. They will also meet U.S. President Joe Biden to discuss North Korea, the first such trilateral summit since 2017. The three countries will also conduct a combined missile detection and tracking exercise near Hawaii in August, called Pacific Dragon. "The U.S. is getting hell-bent on the military cooperation with its stooges in disregard of the primary security demand and concern by Asia-pacific countries," KCNA said. In a similar statement over the weekend, the … [Read more...] about Cooperation by U.S. and allies a step toward ‘Asian NATO,’ N.Korea media says
Pakatan govt erred when it withdrew review bid on Batu Puteh, says Johor MB
JOHOR BARU: The previous Pakatan Harapan government had erred when it withdrew the application for a review of the International Court of Justice’s (ICJ) decision on Batu Puteh, says Datuk Onn Hafiz Ghazi. “The move under Pakatan’s administration had not only left a negative precedent to the state and country but also created a dark mark in the history of our country and our sovereignty," said the Johor Mentri Besar. He also said those who were responsible for the act should have legal actions taken against them for their ‘betrayal’. “It is hoped that those who are responsible for this betrayal will have legal actions taken against them,” he said in his winding-up speech during the state assembly sitting here on Sunday (June 26). Onn Hafiz said that losing Batu Puteh had caused a negative impact on Malaysians, especially fishermen whose source of income was being affected. “In fact, we have received reports that many of our fishermen have been chased out from the area … [Read more...] about Pakatan govt erred when it withdrew review bid on Batu Puteh, says Johor MB
Billionaire Hui Ka Yan’s Evergrande Faces First Winding-Up Lawsuit In Restructuring Process
Share to Twitter Share to Linkedin Billionaire Hui Ka Yan ’s embattled China Evergrande Group has been hit with its first known winding-up lawsuit, as the deeply indebted company still aims to present a plan to restructure more than $300 billion in total liabilities by end of July. The Hong Kong-listed property developer said in a Monday stock exchange filing that Samoa-incorporated Top Shine Global Limited has filed at the High Court of Hong Kong a petition to wind up the company. The lawsuit is related to a HK$862.5 million ($110 million) financial obligation, which Evergrande doesn’t specify in detail. “The company will oppose the petition vigorously,” Evergrande writes in the filing, adding that it doesn’t expect the lawsuit to “impact the company’s restructuring plans or timetable.” Evergrande didn’t respond to repeated requests for additional comment. The company, now declared in default and has suspended trading of its shares since March, … [Read more...] about Billionaire Hui Ka Yan’s Evergrande Faces First Winding-Up Lawsuit In Restructuring Process
Live updates | Italy sees no NATO military escalation
The Associated Press MADRID (AP) — The Latest on the NATO summit in Madrid: ___ Italian Premier Mario Draghi says plans for an increased U.S. military presence in Europe don’t amount to a military escalation within NATO. Draghi says the increase announced Wednesday by the White House would amount to just 70 additional U.S. troops on Italian soil and an air defense system that had already been planned. But he added at the NATO summit in Madrid: “You have to be ready.” Draghi said overall Italy is committing 10,000 troops to NATO. That includes 2,000 divided among the Italian command of NATO in Bulgaria, its presence in Romania and staffing of air patrols over the Baltics. Another 8,000 are on standby in Italy “if eventually necessary.” ___ — Turkey lifts objections to Sweden, Finland joining NATO ahead of alliance summit — Biden, NATO to beef up force posture amid Russian aggression — Macron says Russia can’t win in Ukraine — The AP Interview: Spanish PM … [Read more...] about Live updates | Italy sees no NATO military escalation
4 Challenges–and Triumphs–of LGBTQ+ Entrepreneurs in 2022
One of the reasons I'm so passionate about entrepreneurship is that it allows anyone to chart their own destiny. If you have a good idea and the willingness to pursue it, you're on your way to supporting yourself and adding value to our economy. Which is why, as my company gathered stories from LGBTQ+ entrepreneurs for Pride Month, I was happy to hear that the spirit of self-determination is alive and well. "Ever since I was a child, I've always wanted to be my own boss," says RJ Silver, owner of Sad Boy Designs. "The only thing that ever struck my interest was art, and I wanted to find the best way to display my talents. Today, I'm a graphic designer, and I create multiple things ranging from small keychains to large car decals." We need more, not less, of stories like this. That's one reason Hello Alice regularly surveys the more than 800,000 small business owners on our platform to understand their quantitative and qualitative experiences and advance targeted … [Read more...] about 4 Challenges–and Triumphs–of LGBTQ+ Entrepreneurs in 2022
Who’s right about a recession — markets or the Fed?
A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) A growing number of investors have come to the conclusion that a recession in the United States is probably looming, fueling a sharp sell-off in stocks and bonds as Wall Street braces for impact. What's happening: A shallow recession late this year or early next year is "becoming the consensus view," David Bianco, DWS chief investment officer for the Americas, told reporters this week. While there's agreement that the Federal Reserve needs to continue to aggressively pull back support for the economy to tamp down decades-high inflation, traders have been increasingly concerned that the central bank could accidentally go too far, triggering a new wave of job losses and throwing growth into reverse. But Fed officials … [Read more...] about Who’s right about a recession — markets or the Fed?
PINKERTON: Blessed Are The Peacemakers — And The Rebuilders
Today we remember the gallant Americans who fought on D-Day and on all the other battlefronts of World War Two. And yet we should also remember that Americans fought for peace . As President Franklin D. Roosevelt declared in his D-Day radio address , “They fight not for the lust of conquest. They fight to end conquest,” he added, to bring a “sure peace … invulnerable to the schemings of unworthy men.” Also today, we are in a new struggle against the schemings of unworthy men: Vladimir Putin and his army of “Orcs.” And while we are not ourselves fighting, we are helping. The vast majority of Americans agree that’s the right thing to do — polls show support above 70 % . Yet if helping Ukraine win its war for survival against Russia is a good idea, then helping to win the peace afterward is also a good idea. Fortunately, we have a successful precedent to point to: The Marshall Plan , launched 75 years ago on June 5, 1947, is also an anniversary worth celebrating. … [Read more...] about PINKERTON: Blessed Are The Peacemakers — And The Rebuilders
Do pandas really exist? Over on TikTok, the jury’s out
Few animals are as beloved (and protected) as giant pandas. But while the species holds the status of “national treasure” in China, its very existence is currently being questioned on TikTok. Some users of the platform claim that pandas aren’t real. So what’s with this conspiracy theory that seems to fascinate the younger generation? Their cuddly, furry bodies, big eyes and clumsy walk make giant pandas particularly endearing. It’s no wonder the black and white bear has become a symbol of environmental protection, as well as the national symbol of China, the only country where the species still lives in the wild. While the species has not been considered endangered since 2016, some Internet users say it never was. They even go further, in fact, claiming that these mammals never existed in the first place, and are actually just men dressed up in panda suits or bears painted black and white. This conspiracy theory is particularly popular on TikTok, where the hashtag … [Read more...] about Do pandas really exist? Over on TikTok, the jury’s out