Consumer goods giant Unilever said this morning: Was raising the price The day after Wal-Mart, the country’s largest retailer, to offset the decline in sales Reduce profit outlook This is because personal consumption has decreased. This is a clear indication of how inflation is affecting retailers suffering from inventories and putting pressure on consumers.General Motors said Quarterly profit fell 40%As costs continue to rise and computer chips run short.
China’s threat to Taiwan
U.S. officials have said they are unaware of specific information that China could move to Taiwan soon, but the Biden administration is increasingly concerned that this could happen. One of the major concerns is that Beijing will block access to all or part of the Taiwan Strait, which US naval vessels regularly pass through. Increasing tensions between China and Taiwan will have widespread consequences for the global economy and businesses.
Internal anxiety has increased in recent yearsWrite Times Edward Wong, David E. Sanger and Amy Qin, as the administration is working to discourage Speaker of the House Nancy Pelosi from passing a proposal to visit Taiwan next month. Some analysts say there is a less risky way for the United States to show support for Taiwan than to visit Pelosi. Instead, Washington can send the best officers or sign bilateral trade agreements, which can help the island reduce its economic dependence on Beijing. Chinese officials have blamed Pelosi’s plans and threatened retaliation.
Risk to Taiwan due to Chinese aggression Increasing urgency since Russia’s attack on Ukraine.. And Chinese officials are keenly aware that the Biden administration is applying lessons learned from the Russian invasion by urging Taiwan to order missiles and small arms for asymmetric warfare. The goal is to make sure that the democratic island has sufficient weapons and defense systems to prevent Chinese leaders from trying to attack it.
China’s invasion of Taiwan could also cause a US national security crisis If China blocks semiconductor exports from Taiwan, US troops that depend on them will face serious problems. A single company, Taiwan Semiconductor Manufacturing, supplies more than 90% of the world’s most advanced category of mass-produced semiconductors. In the United States, the Senate is expected to vote on a bill that will provide more than $ 52 billion to companies building semiconductor factories in the country.
Tensions are rising as the consequences of China’s economic slowdown are felt globally. Although Taiwan’s semiconductor industry is thriving, soaring raw material prices, supply chain disruptions due to China’s blockade, and the effects of the Ukrainian War pose significant risks to the island’s economy. Syaru Shirley Lin, Senior Fellow at the Brookings Institution, said: At the event May. A further downturn in China’s economy will have a major impact on Taiwan. Taiwan’s exports to China broke the record last year.
What’s happening here
The European Minister of Energy agrees to reduce natural gas consumption. This morning, 27 EU ministers reached an agreement to provide exemptions to a small number of countries facing certain energy problems. However, it still calls on all countries to reduce their use of natural gas by 15 percent between now and spring.
Donald Trump is back in Washington today for the first time in a while. The former president, who appears ready to announce the 2024 presidential election, Give a speech at the summit Sponsored by the America First Policy Institute.
Alibaba, a major online shopping company in China, wants a major listing in Hong Kong. The move is the latest signal that Chinese companies are under pressure from regulators on both sides of the Pacific and are looking for ways to mitigate risk.
MLB players choose the status quo over international drafts. Despite a call for system reforms to use Latin American children, amateur players outside the United States and Canada continue to participate in affiliated baseball through free agents after the major leagues and their unions have not reached an agreement. Probably.
Today’s Eron …
October will be a busy month for Elon Musk, who will appear in court in the fight against both Twitter over the deal to buy the company and the SEC over tweets about Tesla. He has also been involved in many scandals related to his personal life, including reportedly having a relationship with the wife of Google co-founder and longtime friend Sergey Brin.
Yesterday, Mask said he saidBow down to focus on doing what is useful for civilization.. Some of what’s happening in his world these days:
Tesla Report yesterday Received a second subpoena from the SEC for a tweet many years before Mask.. The subpoena is related to the SEC’s settlement with Tesla when Musk announced on Twitter that it had raised funds to keep the automaker private (he didn’t). Musk is supposed to have Tesla’s lawyer pre-approve his tweets, which are important to Tesla. The latest subpoena seems to be related to last year’s Mask tweet polling users about whether Mask should sell 10% of the automaker’s stake. So far, the 2018 settlement doesn’t seem to have changed the habit of masking on Twitter.
Tesla is subject to a “public inquiry” by the U.S. Committee for Equality Employment Opportunities, The company disclosed earlier this year. Tesla has been accused of having an isolated workplace, which has been denied. The The investigation was disclosed in the filing Another case involving the California Department of Fair Employment and Housing. In that case, state officials accused Tesla of ignoring years of racism and harassment at its manufacturing plant in Fremont.
And Musk is fighting back after the Wall Street Journal reports that he had a relationship with Brin’s wife. mask I sent a photo to the New York Post He himself, who is partying with Brin, said he was filmed last weekend, suggesting that their relationship is not tense. “The divorce between Nicole and Sergei has nothing to do with me,” he told the newspaper. “We never had a romantic relationship.”
The journal said the darience took place during the Art Basel Festival in Miami in December.according to Tracker Mask’s private jet Twitter repeatedly landed and took off over a four-hour span during the event.
Insider trading crackdown
Federal officials have charged nine people yesterday in four insider trading cases. According to prosecutors, civil and criminal executions are taking place as a sign of a problem that is plagued the market. Defendants include former members of the House of Representatives, former investment bankers, technical executives, and one-time FBI trainees.
“Each case may have different details, but they all have one thing in common,” said Michael Driscol, assistant director of the FBI Field Office in New York. We made transactions based on non-public information. ” In the statement..
Congressman turned over on a golf outing: Former Indiana Parliamentarian Stephen Buyer uses private information Sprint Stock $ 1.5 Million Before T-Mobile announces a bid for acquisition. Officials also said they had purchased more than $ 1 million in Navigant Consulting’s stake in insider information shortly before his client, Guidehouse, announced that it would buy the company.
Investment bankers doing squash: Prosecutor says Brijesh Goel, formerly from Goldman Sachs, Received confidential information about a potential merger or acquisition that a bank is considering raising funds and chipped off a squash buddy from another bank. Like buyers and other defendants in unrelated cases announced yesterday, Goel faces potential imprisonment, fines and other penalties if arrested and convicted. “Our actions show that we continue to be committed to ensuring an equal playing field for all,” said Driscoll.
“We saw a pivot in Covid. What is it now? What is the new pivot? It was a vise grip of the pressure generated by the pandemic.”
— How does Corinne Hodges, head of the Women’s Business Centers Association, a national network of funding entrepreneurs? After enduring a pandemic, SMEs face new concerns..
Voyager Digital customers want to get their cryptocurrency back
Depositors and creditors are fighting for access to the cryptocurrencies held by the failed platform Voyager Digital. Despite the recent cryptocurrency crash, many still consider these assets to be better than potential redemptions in dollars.
I also want to have Voyager, Complaining in recent filing suggestion Buying Voyager’s digital assets in cash from rival FTX and paying back to customers who have switched to the platform is actually a “low-priced bid dressed as the rescue of a white knight.” Voyager, which offered high yields to cryptocurrency depositors, stopped withdrawing customers and filed for bankruptcy this month.
According to Voyager, FTX is selling off its customers by offering dollars to cryptocurrencies with “fair market value”. Based on the price drop on July 5th. “Under the proposal, the customer will not be complete and the cryptocurrency will not be returned,” he said. Voyager lawyers say the transaction also harms customers by ignoring the tax impact of converting cryptocurrencies to dollars. On Twitter, FTX founder Sam Bankman-Fried claims that customers are suffering even more from the traditional bankruptcy process. Can be dragged for years..
Some customers are demanding digital assets. Voyager depositors, unfortunately thinking about the possibility of repayment in dollars, seem to have the indomitable belief that a better era is ahead. “Cryptocurrency assets are mispriced from a long-term perspective,” wrote one self-proclaimed tech entrepreneur and crypto enthusiast, Chris Mirabs. Letter to the court..
Speed reading
Deals
policy
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Tesla Impairment costs of $ 170 million The remaining Bitcoin holdings were offset by a $ 64 million profit from the sale of cryptocurrencies. (WSJ)
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Brexit bureaucratic formalism The UK chemical industry costs £ 2 billion, or $ 2.4 billion. (FT)
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