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@RelievedF4irTrade from Kentucky submitted…8hrs8H
In December, a new company registered in Michigan: American Lidar. Its planned home would be an easy drive from the big three U.S. automakers.The company behind American Lidar, and not mentioned in its registration, is China-based lidar maker Hesai Group, which the U.S. has labeled a security concern. It is a familiar playbook: a company facing regulatory or reputational problems sets up a subsidiary or affiliate with a different name. Chinese firms trying to buffer themselves from Washington’s anti-China policies are rebranding and creating U.S.-domiciled businesses to sell their wares as the Biden administration expands the government entity lists that restrict Chinese companies’ business dealings in the U.S., say policymakers and national-security experts. The blacklisting has also created opportunities for American entrepreneurs who want to work with Chinese companies that are popular with U.S. consumers.“Chinese firms take a blow but then adjust business strategy and are able to move in another direction,” said Derek Scissors, a former commissioner on the U.S.-China Economic and Security Review Commission. The Pentagon’s designation prohibits the U.S. military from buying Hesai products. Automakers and other private companies can remain buyers. Hesai says its lidars don’t pose a threat because they can’t store or transmit images wirelessly.A Hesai spokeswoman said the name American Lidar was a placeholder, but the company wanted to communicate that the products would be made and sold in the U.S. Hesai has since paused plans for the American Lidar facility, blaming the fallout from being labeled a Chinese military entity.
@ChileDukefrom Arizona submitted…8hrs8H
Western companies, including Avon Products, Air Liquide and Reckitt, have remained in Russia despite saying they planned to leave after the invasion of Ukraine, as bureaucratic obstacles increase and consumer activity rebounds.The Natura-owned cosmetics brand, the French industrial gas producer and the UK consumer group that produces everything from painkillers to condoms are among hundreds of western groups that have stayed in the country since the full-scale invasion in 2022.“Many European companies have found themselves really between a rock and a hard place,” said one executive working with western companies in the country. “They said they’d leave. They were presented with a choice of buyers that were unacceptable to them.”Overall, more than 2,100 multinationals have stayed in Russia since 2022, the Kyiv School of Economics has found, compared with about 1,600 international companies that have either quit the market or scaled back operations.A rebound in consumer activity and “bureaucratic obstacles” are making the companies stay, the outlet suggested.
@ISIDEWITH submitted…9hrs9H
The world’s biggest bond market sold off after weak Treasury sales, with traders also weighing mixed economic data and remarks from Federal Reserve speakers for clues on the policy outlook.Treasuries extended losses after the US sold $70 billion of five-year notes at 4.553% — above the pre-auction level of 4.540%. An earlier offering of $69 billion in two-year notes also came on the soft side. Just a few days before the Fed’s favorite price gauge, a report showed US consumer confidence unexpectedly rose in May — though recession expectations increased as well.“Treasury yields are rising to the high of the day after the 5-year auction was poor,” said Peter Boockvar at The Boock Report. “This follows the 2-year auction earlier today that was mediocre — and will be followed by a 7-year tomorrow.”
NYU Langone Health bestowed an award on a labor and delivery nurse for providing compassionate care to mothers who had lost babies. But shortly after, the nurse said, the hospital fired her over the speech she gave when she accepted the award.In it, she spoke of the suffering of Palestinian women amid the Israel-Hamas war, which she called a “genocide.” The nurse, Hesen Jabr, is not the first medical worker to be fired at NYU Langone, a major New York hospital system, over commentary about the Israeli-Palestinian conflict. The hospital is currently embroiled in a lawsuit by a prominent cancer researcher, who was fired from his job as the director of its cancer center after he posted a variety of anti-Hamas political cartoons. Some included offensive caricatures of Arab people.“It pains me to see the women from my country going through unimaginable losses themselves during the current genocide in Gaza,” said Ms. Jabr, who is Palestinian-American. “This award is deeply personal to me for those reasons.”Ms. Jabr said that these remarks led to her firing on May 22 after she returned to work following the ceremony. “As soon as I walked into the unit, I was dragged into an impromptu meeting with the President and Vice President of Nursing at NYU Langone to discuss how I ‘put others at risk’ and ‘ruined the ceremony’ and ‘offended people’ because a small part of my speech was a tribute towards the grieving mothers in my country,” she wrote in a post on Instagram. She said that she then worked most of her shift before being summoned to an office where she was fired and escorted off the premises.
@9N66KW5from Manitoba answered…3hrs3H
