Category: Business & Markets

Pain and Terror Felt by Passengers Before Boeing Max Crashed Can Be Considered, Judge Rules

June 1, 2023
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Families of passengers who died in the crash of a Boeing 737 Max in Ethiopia can seek damages for the pain and terror suffered by victims in the minutes before the plane flew nose-down into the ground, a federal judge has ruled. The ruling means that lawyers for the families will be able to call…

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Toyota to Invest $2.1 Billion More in North Carolina Battery Plant, Will Build Big SUV at Factory in Kentucky

June 1, 2023
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FRANKFORT, Ky.—Toyota will invest another $2.1 billion in an electric and hybrid vehicle battery factory that’s under construction near Greensboro, North Carolina. The plant will supply batteries to Toyota’s huge complex in Georgetown, Kentucky, which will build Toyota’s first U.S.-made electric vehicle, a new SUV with three rows of seats. The plans, announced Wednesday, won’t…

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Jaguar Recalls I-Pace Electric Vehicles Due to Fire Risk in Batteries, Tells Owners to Park Outside

June 1, 2023
Business & MarketsCompaniesJaguarrecallTechTech Newsvehicle
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DETROIT—Jaguar is recalling more than 6,000 I-Pace electric SUVs in the United States due to the risk of the high-voltage battery catching fire, and it’s telling owners to park them outdoors. The recall is the latest in a series of electric vehicle battery recalls because of the potential for fires. Documents posted Wednesday by the…

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Johnson & Johnson Faces New Trial Over Talc Cancer Claims, Amid Settlement Push

June 1, 2023
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Johnson & Johnson on Wednesday faced the first trial in almost two years over claims that asbestos in its baby powder and other talc products causes cancer, as it seeks to settle thousands of similar cases in bankruptcy court. Emory Hernandez, 24, says he developed mesothelioma, a deadly cancer, in the tissue around his heart…

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Republican Presidential Candidate Vivek Ramaswamy ‘Deeply Concerned’ Over Musk’s China Visit

June 1, 2023
2024 electionBusiness & MarketsChinaChina Business & EconomyChina NewsCompaniesElon MuskFinance & Business TiesInvestmentMarketsPoliticsRepublican CandidatesRepublicansSpecial TopicsteslaThreat from Communist ChinaUSUS NewsUS-China relationsVivek Ramaswamy
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Republican Presidential candidate Vivek Ramaswamy is “deeply concerned” that Tesla CEO Elon Musk met with China’s foreign minister this week, while reportedly revealing an opposition to economic decoupling between the United States and China. Taking to Twitter on May 31, Ramaswamy said he was breaking an “unspoken rule in the GOP” by sharing his concerns about the billionaire’s…

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Meta Threatens to Pull News Feeds Over California’s Journalism Preservation Act

June 1, 2023
alphabetBusiness & MarketsCaliforniaCompaniescongresseconomic policiesMedia & Big TechmetaPolicies & ImpactsPoliticsRegional & State NewsState Newsthe Journalism Competition and Preservation  ActUSusage feeWorld
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Meta, the parent company of Facebook and Instagram, is threatening to pull news feeds on its platforms for California residents if the state legislature passes the Journalism Preservation Act. In a statement posted on Twitter on May 31, Meta expressed its opposition to the proposal AB 886, which requires big tech companies to pay news outlets…

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Australia Eyeing Mammoth 1.6 Million Tonnes of EV Battery Waste by 2050

June 1, 2023
AustraliaBusiness & Marketseconomic policieselectric vehicleenergyEnvironmentEV batteriesEVsInternationalSciencesolar panelswind turbinesWorld
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Australians will need to find a way to dispose of 1.6 million tonnes of disused EV batteries by 2050 as part of its push towards net-zero. The Battery Stewardship Council, along with its research partners, estimates that based on current trends, the volume of EV waste will expand exponentially to 30,000 tonnes by 2030 before…

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Labor Reshaping Australia’s IR System to Fit the Union Vision

June 1, 2023
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Commentary The Australian Labor Party and the trade unions have been waging a war against what they call “insecure work” and contracting for some years, but it is only now they are in power that the reality is starting to dawn on employers. Take BHP. The mining giant complains that the cost of Labor’s “Same Job. Same…

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Australian Banking Regulator Maintains Interest Rate Buffer Rule Amid Rising Mortgage Stress

June 1, 2023
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Australia’s banking regulator has stated that it will not ease the interest rate buffer requirements for borrowers despite more homeowners being subject to mortgage stress. This comes as a significant number of borrowers will see their cheap fixed-rate home loans, which were acquired before the central bank started the interest rate hiking cycle in May…

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Protest Over Chinese-Owned Company’s Dumping of ‘Toxic’ Waste Tailings in Australia’s ‘Amazon’

June 1, 2023
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China-owned MMG is proposing to turn 140 hectares of the Tarkine rainforest, known as Australia’s “amazon” in Tasmania’s northwest, into a tailings dam where it will hold the company’s mining waste. MMG, or Minerals and Metal Group, which is majority owned by China Minmetals Nonferrous Metals Company Limited (CMN), bought the Rosebery mine in 2009….

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