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Excerpt from www.brusselstimes.com

Belgium on track to miss EU climate targets, transport sector furthest behind  The Brussels Times

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Excerpt from fortune.com

Walt Disney Co.’s Pixar subsidiary, the pioneering animator that made Toy Story and Finding Nemo, is cutting 14% of its staff, part of an ongoing belt tightening by its parent.

About 175 employees are getting layoff notices Tuesday, the company said.

The reductions reflect a decision to refocus Pixar on feature films and move away from the production of TV series for the Disney+ streaming service. Pixar President Jim Morris outlined the shift in a memo to employees that was seen by Bloomberg.

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Excerpt from www.wsws.org

Following its imposition of sweeping tariffs on a range of Chinese green technology goods, spearheaded by a 100 percent charge on electric vehicles [EVs], the United States is trying to draw the European Union into its economic warfare against Beijing.

Treasury Secretary Janet Yellen issued what amounted to a call to arms in a major speech yesterday in Frankfurt, Germany, on the importance and strength of the Transatlantic alliance.

After recalling the collaboration with Europe from the Cold War to the NATO operations against Russia in the Ukraine war, she turned to the issue which is front and centre for the US—the existential threat to its global economic dominance it considers is posed by the economic rise of China.

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Excerpt from abcnews.go.com

Boeing shareholders have approved CEO David Calhoun’s $32.8 million compensation

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Excerpt from news.bitcoin.com

SEC’s Regulatory Overreach Challenged in Court: Motion Filed to Vacate ‘Dealer’ Rule – News Bytes Bitcoin News  Bitcoin.com News

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Excerpt from www.aviationpros.com

Boeing will have five extra years to build its 767 freighters in its Everett plant thanks to a provision in the newly passed Federal Aviation Administration reauthorization bill.

Boeing won’t say what these extra years will mean for the aviation company beyond 2028, when it originally planned to shutter its 767F program because the plane doesn’t meet global aviation carbon emissions standards. Boeing could now sell the plane until 2033, but those planes would be out of compliance with international regulations and could only be flown in the United States.

Still, the company’s machinists and engineering unions last week hailed the extension as a win for workers as the FAA bill was passed by Congress and then signed by President Joe Biden.

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Excerpt from uk.news.yahoo.com

International Business Machines Corp is winding down its business in Russia and has started to lay off its employees in the country, according to a memo to staff sent last week and emailed to Reuters on Tuesday.

After Russia invaded Ukraine in February, IBM joined hundreds of other companies in suspending business in the country. Many others had announced a complete exit from Russia.

“As the consequences of the war continue to mount and uncertainty about its long-term ramifications grows, we have now made the decision to carry out an orderly wind-down of IBM’s business in Russia,” Chief Executive Arvind Krishna wrote to employees.

Krishna told Reuters early last month that he was not sure how much longer the company could pay its employees in Russia in light of escalating sanctions.

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Excerpt from nypost.com

Apple said Tuesday it plans to ask a US judge to dismiss a lawsuit filed by the Justice Department and 15 states in March that alleged the iPhone maker monopolized the smartphone market, hurt smaller rivals and drove up prices.

In a letter to US District Judge Julien X. Neals, Apple said “far from being a monopolist, Apple faces fierce competition from well-established rivals, and the complaint fails to allege that Apple has the ability to charge supra-competitive prices or restrict output in the alleged smartphone markets.”

In the letter to the judge, Apple said the DOJ relies on a new “theory of antitrust liability that no court has recognized.”

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Excerpt from www.chicagotribune.com

WARREN, Michigan — In her 11th year as CEO of General Motors Co., Mary Barra’s latest test is to ensure that the Detroit automaker’s coming electric vehicles reach profitability by getting mainstream consumers to buy them in competitive global markets.

But in the time since GM first declared it would become all-electric, industry regulations have changed and the pace in the demand for EVs has slowed. Even though EV sales surpassed 1 million for the first time in 2023, data shows they are slowing quarter to quarter. First-quarter EV sales rose 2.6% year over year, but fell 15.2% from the fourth quarter of 2023, according to Kelley Blue Book.

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Excerpt from www.benzinga.com

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Ford Motor Co. (NYSE:F) has reportedly provided its support for the Biden administration’s initiative to significantly reduce vehicle emissions by 2032.

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Excerpt from www.foxbusiness.com

 

Former Chrysler Chairman and CEO Bob Nardelli weighs in on the inflationary pressures Americans continue to face and the Biden administration’s missteps that have contributed to economic turmoil.

Former Chrysler and Home Depot CEO Bob Nardelli warned that the fault lines of the economy are “about ready to crack” on Monday, adding that the Biden administration’s alleged policy missteps could leave a cumbersome mess for the next person who sits in the Oval Office to clean up.

“What I’ve seen over the past three-and-a-half years is that a series of debacles and missteps have created a tremendous pressure on the fault lines of our economy, and they’re about ready to crack,” he told FOX Business’ Maria Bartiromo.

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Excerpt from www.msn.com

Exxon, shareholders lock horns ahead of annual meeting  MSN

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Excerpt from timesofindia.indiatimes.com

Chinese tech giants Alibaba and Baidu have reduced the prices of their large-language models (LLMs). Other companies and developers in China use these models to train their generative artificial intelligence (AI) products. This move comes as a price war in the cloud computing sector heats up in China.

According to a report by the news agency Reuters, Alibaba’s cloud unit announced price cuts of up to 97% on a range of its Tongyi Qwen LLMs. For example, the report claims that after the price cut, the company’s Qwen-Long model will cost only 0.0005 yuan per 1,000 tokens (units of data processed by the LLM). This price cut will reportedly bring down the cost from 0.02 yuan (Rs 0.23) per 1,000 tokens.

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Excerpt from worldscreen.com

Nielsen has launched a new cross-platform media measurement tool, which found that The Walt Disney Company accounted for 11.5 percent of all TV viewing in the U.S. last month, ahead of YouTube at 9.6 percent.

More than 40 percent of Disney’s share was attributable to Disney+ and Hulu, per the Nielsen’s first report of The Media Distributor Gauge. Behind YouTube in third place was NBCUniversal at 8.9 percent, with Paramount at 8.8 percent and Warner Bros. Discovery at 8.1 percent. Netflix fell just outside of the top five at 7.6 percent, with FOX at 6.1 percent. Per Nielsen, 14 media companies reached a 1 percent or greater share of TV usage, including Prime Video, boosted by Fallout, with a gain of 12 percent to reach 3.2 percent of viewing; Scripps (2.3 percent), Weigel (1.5 percent), The Roku Channel (1.4 percent), A+E Networks (1.3 percent), Hallmark Media (1.2 percent) and AMC Networks (1.1 percent).

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Excerpt from www.law360.com

Broadcasters are continuing their push to get the Federal Communications Commission to drop the potential inclusion of some political ads and public service announcements from proposed foreign disclosure rules, this time…

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Excerpt from www.the-sun.com

TARGET customers have revealed they are doing what they can to avoid the store after the retailer continues to increase anti-theft measures.

Customers have revealed that Target‘s anti-theft measure of locking up merchandise has turned them off from the store.

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Excerpt from finimize.com

What’s going on here?

US Treasury yields climbed this week as investors pivoted from government

bonds

to fresh corporate debt, amid mixed signals from Federal Reserve officials.

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Excerpt from fortune.com

 

President Joe Biden, aiming to highlight his legislative accomplishments this election year, traveled to New Hampshire on Tuesday to discuss how he’s helped military veterans get benefits as a result of burn pit or other toxic exposure during their service.

“We can never fully thank you for all the sacrifices you’ve made,” Biden said to the veterans and their families gathered at a YMCA. “In America, we leave no veteran behind. That’s our motto.”

In raw numbers, more than 1 million claims have been granted to veterans since Biden signed the so-called PACT Act into law in August 2022, the administration said Tuesday. That amounts to about 888,000 veterans and survivors in all 50 states who have been able to receive disability benefits under the law.

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Excerpt from www.reuters.com

US Supreme Court rebuffs appeal over Maryland assault weapons ban  Reuters

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Excerpt from wirepoints.org

Pritzker proposing $300 million in tax breaks for certain business sectors – Center Square  Wirepoints

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Excerpt from www.kake.com

READ: Indictment filed in Arizona in latest 2020 election subversion case  KAKE

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Excerpt from www.pressdemocrat.com

NEW YORK — Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation, will step down from his post once a successor is appointed, the White House said Monday.

Gruenberg’s announced departure comes after damning report about the agency’s toxic workplace culture was released earlier this month and political pressure from the top Democrat on the Senate Banking Committee, who called for his resignation earlier in the day.

In a statement, the White House said that President Joe Biden will name a replacement for Gruenberg “soon” and called for the Senate to quickly confirm the person’s nomination.