BRUSSELS—The European Union is set to impose duties on aluminium from China in October, only to suspend them for nine months, the EU industry association said on Wednesday, adding that this would threaten jobs and send the wrong signal to Beijing. The European Commission launched an investigation into aluminium flat-rolled products, which are used in…
EU to Suspend Planned Tariffs on Chinese Aluminium, Lobby Group Says
September 16, 2021
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aluminiumBusiness & EconomyChinacommoditiesdutiesEconomiesEuropeEurope-China RelationsInternationalInternational RelationsSpecial TopicsWorld
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Billions Blown as Macau Casino Investors Fold Amid Gambling Review
HONG KONG—Shares of Macau casino operators on Wednesday shed as much as a third of their value, losing about $18 billion, as the government kicked off a regulatory overhaul that could see its officials supervising companies in the world’s largest gambling hub. With Macau’s lucrative casino licences up for rebidding next year, the plan spooked…
US Regulators Approve Texas Nuclear Dump Despite Opposition
By Ari Natter From Bloomberg News Texas officials vowed to fight a federal regulator’s decision to approve plans to allow thousands of tons of highly radioactive nuclear waste to be stored in oil fields in the state. “Texas will not become America’s nuclear waste dumping ground,” Texas Gov. Greg Abbott, a Republican, said on Twitter Tuesday….
Analysis: Biden’s Lofty Climate Goals Collide With Political, Economic Reality
September 16, 2021
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Business & EconomyclimateeconomicEconomieseconomyExecutive BranchgoalsJoe BidenpoliticalPoliticsrealityUSUS News
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President Joe Biden campaigned on a promise to restore U.S. leadership in the global fight against climate change and followed up with a dizzying number of executive orders and lofty targets to slash emissions. But nine months into his presidency, political, legal, and economic obstacles have forced his administration to make several moves in support…
Snap Hires First Global Head of Platform Safety
September 15, 2021
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Business & EconomyEconomiesInternationalregulatorssmart glassesSocial MediaTechTech NewsUSUS Newsuser safetyWorld
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Snapchat’s owner has hired a longtime online safety advocate as its first global head of platform safety, Snap Inc. told Reuters on Wednesday, as the company continues to ramp up efforts around user safety and as social media firms face mounting global pressure from regulators and lawmakers. Snap said that after a long search it…
US Industrial Production Rebounds to Above Pre-Pandemic Level
A new report from the Federal Reserve shows that U.S. factory production expanded in August though at a far slower pace than in July, with disruptions related to Hurricane Ida blamed for the relatively weak print. Still, total industrial production in August rose above its pre-pandemic level. After growing 0.8 percent in July, overall U.S….
Analysis: ECB Sees a New Inflation ‘Hump’ as Prices Surge
FRANKFURT—A spike in euro zone inflation to above the European Central Bank’s target is a temporary “hump”, the ECB says—dusting off a metaphor used a decade ago by its then-president Jean-Claude Trichet. In 2011, the ECB hiked interest rates twice in four months, with Trichet yielding to German pressure despite believing that a commodity-fuelled rise…
US Panel Votes to Approve $1 Billion for FTC Privacy Probes
WASHINGTON—The U.S. House Energy and Commerce Committee voted on Tuesday to give the Federal Trade Commission $1 billion to set up a bureau dedicated to improving data security and privacy and fighting identity theft. The proposal, which Democrats included in a $3.5 trillion spending measure, would fund a new bureau over 10 years to address…
Cyber Crime Spreads in Australia as COVID-19 Pushes More People Online
SYDNEY—Australia reported on Wednesday a 13 percent jump in cyber crime in the past year, with about one incident in four targeting critical infrastructure and services as working from home during the pandemic made more people vulnerable to online attacks. The Australian Cyber Security Centre (ACSC) received one cybercrime report every eight minutes over the…
China’s New Home Prices See Slowest Growth in 8 Months
Data on Sept. 15 showed China’s home-price growth eased to an 8-month low, as property investment in August rose at the slowest pace in 18 months. Average new home prices in 70 major Chinese cities grew 0.2 percent last month after rising 0.3 percent in July, according to Reuters calculations based on data released by…
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