Commentary “Decoupling” is the new buzzword these days when it comes to sanctioning communist China for its bad behavior. The argument behind it is that the West should no longer rely so much upon China’s manufacturing base for essential products and processes but instead work to reduce, even eliminate, China’s place in global supply chains….
Decoupling From China’s Aircraft Industry
June 8, 2023
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aircraftairlinerBusiness & MarketsBusiness ColumnistsdecouplingmicrochipOpinionsupply chainThinking About China
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Los Angeles Times Cutting More Than 10 Percent of Newsroom
June 8, 2023
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Business & MarketsCaliforniaCompanieslayoffsLos Angeles TimesMedia & Big TechRegional & State NewsState NewsunionUSUS News
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The Los Angeles Times this week became the latest media organization to announce job cuts, saying it would terminate more than 10 percent of its newsroom. The paper is firing 74 newsroom employees, a spokeswoman confirmed via email to The Epoch Times on June 8. “We have made the difficult decision to undergo a reorganization…
‘Bad Spaniels’ Dog Toy Maker Loses Trademark Case Against Jack Daniel’s
June 8, 2023
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Business & MarketsIntellectual property (IP)Jack DanielsJudiciaryPolicies & ImpactsSupreme CourtUSUS News
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The Supreme Court unanimously ruled on June 8 against a dog toy maker whose chew toy parodies a bottle of Jack Daniel’s whiskey that the Tennessee distiller had claimed violated its trademark. The case dealt with the intersection of the First Amendment and trademark protection laws and the extent to which one company may parody another’s…
IRS Sends Incorrect Payment Due Notices to Taxpayers
The Internal Revenue Service (IRS) has sent out millions of letters demanding payment of taxes owed, with many of them featuring incorrect information. The IRS said in a statement obtained by The Epoch Times that it had sent taxpayers a number of CP-14 letters—notices that they owe money on unpaid taxes. But some of these…
High Interest Rates, High Inflation, and Record Debt
June 8, 2023
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Business & Marketsdebteconomic policieseconomyinflationMarketsOpinionPolicyrecessionUSUS NewsViewpoints
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Commentary Financially, it’s going to be an interesting summer. At the moment mortgage rates are hitting 7 percent, median rent prices are at $1,850 per month, and the average car payment is around $950 per month. Household debt is currently at $17.1 trillion, mortgages are at $12 trillion, and auto loans are at $1.6 trillion….
‘Worsening’ Trade Could Adversely Affect US GDP as Deficit Jumps to Highest Level in Six Months
The U.S. trade deficit rose in April to widen to a six-month high, potentially affecting second-quarter GDP growth. The trade deficit for April 2023 rose by $14 billion, to $74.6 billion, according to a June 7 news release from the Bureau of Economic Analysis (BEA). This is 23 percent rise from March’s $60.6 billion deficit…
China Is Still What It Used to Be
June 8, 2023
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Business & MarketsBusiness Columnistschina dataChina NewsexportHong KongmarketOpinionThinking About China
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Commentary The recent China data often shocked the market, foreigners, and local analysts. Sometimes it was a fight between the official and private data sources like PMI; sometimes, it was a mismatch between domestic and foreign sources like trade data. A few years ago, China data were well-known to be fake: Whatever number the government…
Meta Introduces Broadcast Tool Channels on WhatsApp
Meta Platforms on Thursday introduced WhatsApp Channels, a feature that the social media giant said would help make the app a “private broadcast messaging product.” Users in Colombia and Singapore will be the first to receive access to Channels. Over the coming months, Meta will expand the availability of the tool for users in more…
‘Constrained’ Home-Purchase Activity: Mortgage Applications Register Fourth Consecutive Weekly Drop
June 8, 2023
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Business & Marketseconomyhigh mortgage ratesMarketsmortgage applicationreal estateUSUS NewsUS Real Estate
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Mortgage applications have fallen for the fourth straight week amid elevated mortgage rates, according to a recent report by the Mortgage Bankers Association (MBA). The volume of mortgage loan applications fell by 1.4 percent for the week ended June 2, on a seasonally adjusted basis, said an MBA press release on June 7. On an…
Creator of Conservative Chatbot Powered by ChatGPT Says OpenAI Tried to Censor Content
The creators of a conservative chatbot powered by OpenAI’s ChatGPT announced that they shut down the chatbot because of pressure from OpenAI to censor the bot’s responses. The conservative chatbot, named GIPPR in honor of the late President Ronald Reagan, debuted in May and is part of TUSK, a pro-free speech and anti-censorship web browser. GIPPR…
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