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Ford and SK Innovation to spend $11 billion, create 11,000 jobs on new U.S. EV Posted by: superadmin - 09-28-2021, 10:14 AM - Forum: Business, Economy and Investment - No Replies Ford and SK Innovation to spend $11 billion, create 11,000 jobs on new U.S. EV and battery plants The investment includes two lithium-ion battery plants in central Kentucky and a 3,600-acre campus in west Tennessee called Blue Oval City. The plans bolster President Joe Biden’s call for companies to onshore supply chains amid a global shortage of semiconductor chips that has disrupted several industries, including automotive. DETROIT – Ford Motor and battery supplier SK Innovation plan to invest more than $11.4 billion in new U.S. facilities that will create nearly 11,000 jobs to produce electric vehicles and batteries. Ford is building twin lithium-ion battery plants in central Kentucky through a joint venture with South Korea-based SK called BlueOvalSK as well as a massive 3,600-acre campus in west Tennessee, the automaker said Monday night. The campus will include another a battery plant built with SK along with a supplier park, recycling center and a new assembly plant for electric F-Series trucks, Ford CEO Jim Farley told CNBC. The plans are the latest of Ford’s to increase development and production of electric vehicles — including batteries — under Farley, who began leading the automaker a year ago this week. They also bolster President Joe Biden’s call for companies to onshore supply chains amid a global shortage of semiconductor chips that has disrupted several industries, including automotive. - More -   Senate GOP blocks bill that would fund government and suspend debt limit Posted by: superadmin - 09-28-2021, 10:08 AM - Forum: Politics - No Replies Senate GOP blocks bill that would fund government and suspend debt limit, as time runs short to avoid shutdown and default Senate Republicans blocked a House-passed bill that would prevent a government shutdown and a potential default on U.S. debt. Lawmakers have to pass an appropriations bill by Thursday to avoid a shutdown, and need to suspend or increase the debt limit sometime in the coming weeks to prevent a default. Democrats may be forced to suspend the debt limit on their own, potentially as part of their up to $3.5 trillion budget reconciliation bill. Congress is running out of time to prevent a shutdown and a default. Senate Republicans on Monday blocked a bill that would fund the government and suspend the U.S. debt ceiling, leaving Democrats scrambling to avoid a possible economic calamity. The House-passed legislation would have funded the government into December and suspended the U.S. debt ceiling into December of next year, after the midterm congressional elections. Lawmakers need to approve government funding before Friday to avoid a shutdown. The U.S. risks default if Congress doesn’t raise the debt ceiling by a point that is likely to come in October, according to the Treasury Department. After every House Republican opposed the measure, the Senate GOP also refused to help Democrats suspend the debt limit. In a 48-50 vote, all Republican senators opposed advancing the legislation. Senate Majority Leader Chuck Schumer, D-N.Y., voted no as a procedural move so he can bring up the bill again later. Democrats now have to pull off a daunting series of maneuvers to avoid a sequence of events that could ravage the economy and cost millions of Americans their jobs. The Republican opposition may force them to pass a short-term funding bill with GOP support, then approve a debt limit suspension on their own — potentially as part of their up to $3.5 trillion budget reconciliation plan. “The Republican Party has solidified itself as the party of default, and it will be the American people who pay the price,” Schumer said after the vote. - More -   Chinese vice-president told old friend from US about Communist Party’s legitimacy Posted by: superadmin - 09-28-2021, 09:35 AM - Forum: Politics - No Replies Exclusive | What Chinese vice-president told old friend from US about Communist Party’s legitimacy John Thornton, one of few to maintain access to some of China’s most powerful officials, met Wang Qishan early this year The Wall Street executive has no government role, but bridges the US-China divide like Henry Kissinger in 1971, source says In late January, soon after Joe Biden  entered the White House, Chinese Vice-President Wang Qishan  had a long conversation with an American guest in Beijing. John Thornton  , a Wall Street veteran who had previously headed Goldman Sachs, is an old friend who had known Wang, President Xi Jinping’s right-hand man, when he was still a mid-level official in the 1990s. The pair steered their conversation far beyond day-to-day politics and talked about Chinese and American history, the clash of civilisations and one of the most sensitive topics surrounding the two countries’ relations: the legitimacy of the ruling Chinese Communist Party. Thornton, now the executive chairman of Barrick Gold, relayed the message of the new US administration’s priorities: fighting the pandemic, reviving the economy and reuniting a divided America. He said the personal ties between Xi and Biden could help repair relations, and that there was space for the two nations to sit down and discuss trade. - More -   Sudirman Cup: Zii Jia leads Malaysia to victory against England Posted by: superadmin - 09-28-2021, 09:24 AM - Forum: Badminton - No Replies KUALA LUMPUR – Malaysia got their 2021 Sudirman Cup Group D campaign off to a winning start by edging England 3-2 at Vantaa, Finland, today. World number 27 mixed doubles pair Hoo Pang Ron-Cheah Yee See gave Malaysia the perfect start when they stunned England’s world number seven duo of Marcus Ellis-Lauren Smith 21-19, 21-18 at the Energie Areena. Inspired, team captain Lee Zii Jia then made it 2-0 for Malaysia when he brushed aside Johniee Torjussen 21-4, 21-15 in just 28 minutes in men’s singles. Tokyo Olympics men’s doubles bronze medallists Aaron Chia-Soh Wooi Yik then delivered the winning point, but not before being put through the wringer by Ben Lane-Sean Vendy. The world number eight Malaysians struggled to cope with the fast-paced display of Lane-Vendy but, somehow, managed to find extra gear to eke out a 22-20, 21-18 win. - More -   Rave reviews for 12MP, but Ismail Sabri’s Bumi focus splits opinions Posted by: superadmin - 09-28-2021, 09:16 AM - Forum: Politics - No Replies KUALA LUMPUR – The 12th Malaysia Plan (12MP) tabled by Prime Minister Datuk Seri Ismail Sabri Yaakob has received rave reviews from political observers, but his Bumi-centric policies have split opinions.  While one analyst poured scorn on Ismail Sabri’s focus on giving aid along racial lines, another said the move to assist Bumiputeras is necessary considering that the group makes up the majority of those in the B40 income bracket. Speaking to The Vibes, Universiti Malaya’s Prof Awang Azman Awang Pawi said Bumiputeras continue to be left behind economically compared with their non-Bumi peers, hence, they require more attention. He warned that should the government ignore Bumiputeras’ plights, it could lead to a wider income gap between the two groups, and noted that the community has a corporate equity ownership of only 17% today. Despite the empowerment of Bumiputeras, he said, Ismail Sabri has not left out aid policies for poor Malaysians of other races. - More -   Trump's Attack On Democracy Posted by: superadmin - 09-27-2021, 05:46 PM - Forum: Politics - No Replies   China will likely fail in its CPTPP bid — but it’s a ‘smart’ move against the U.S Posted by: superadmin - 09-27-2021, 03:11 PM - Forum: Politics - No Replies China will likely fail in its CPTPP bid — but it’s a ‘smart’ move against the U.S., say analysts China said it applied to join CPTPP, an 11-nation trade pact formed in 2018 after the U.S. withdrew from the Trans-Pacific Partnership a year earlier. Beijing needs the approval from all 11 CPTPP signatories to join CPTPP, and it may not succeed given its strained relationships with some member countries, said analysts. Beijing may also have difficulties fulfilling the mega trade pact’s demands for a level playing field in areas such as state-owned enterprises, labor rights and cross-border data flows, said analysts. Nevertheless, China’s application to join CPTPP stands in contrast to the U.S.′ lack of economic policy in Asia-Pacific, analysts said. China will likely fail in its bid to join the Comprehensive and Progressive Trans-Pacific Partnership — but its move to submit an application highlighted the lack of U.S. economic policy in Asia-Pacific, said analysts. CPTPP is an 11-nation mega trade pact formed in 2018 after Donald Trump pulled the U.S. out of the Trans-Pacific Partnership a year earlier. President Barack Obama had negotiated the TPP to deepen U.S. economic engagement in Asia-Pacific and counter China’s growing influence in the region. All 11 signatories of the CPTPP must agree to China’s request to join before it can be admitted as a member. The countries in the CPTPP are: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. - More -   12MP: Only Bumiputeras will be able to buy Bumi firms, shares, says PM Posted by: superadmin - 09-27-2021, 03:04 PM - Forum: Politics - No Replies KUALA LUMPUR – Soon, Bumi-owned companies and shares can only be sold to fellow Bumiputera consortiums, firms and individuals, as the government bids to further empower the community under the 12th Malaysia Plan (12MP). Prime Minister Datuk Seri Ismail Sabri Yaakob said a safety net framework will be introduced to ensure sustainable equity ownership. He added that the ownership and disposal of Bumiputera companies will soon be regulated by the relevant ministries and agencies. “In an effort to coordinate all these initiatives, a Bumiputra Prosperity Division will be set up with a clearer mandate and function by reassigning officers from all government ministries and agencies,” he said in tabling the 12MP in the Dewan Rakyat today. “A Bumiputera development action framework will be announced at the end of this year, and will detail several key initiatives in realising our aspiration to improve the socio-economic status of this group.” Ismail Sabri said the country has to date failed to achieve its target of Bumiputeras owning 30% of corporate equities. As of 2019, he added that equity ownership among this group only makes up 17.2%, with non-Bumiputeras owning 25%, foreign investors with 45.5% and the remaining 12.3% are nominal ownership. - More -   30% Bumiputera equity yet to be achieved, says PM Posted by: superadmin - 09-27-2021, 02:56 PM - Forum: Politics - No Replies KUALA LUMPUR: The government’s target to raise Bumiputera equity ownership to 30% has yet to be achieved, prime minister Ismail Sabri Yaakob said today. Ismail said as of 2019, it stood at 17.2%, while non-bumiputeras held 25%, and foreigners 45.5%. The remaining 12.3% is held by nominees. The 30% target was set as part of the New Economic Policy (NEP), following the events of May 13, 1969 due to the economic disparity between the races. Bumiputeras currently account for some 64% of the population. “To ensure sustainable equity holdings by Bumiputeras, an equity safety net will be introduced to ensure that sales of shares or Bumiputera firms will only be sold to Bumiputera companies, consortiums or individuals,” he told the Dewan Rakyat when tabling the 12th Malaysia Plan (12MP). - More -   German elections: Centre-left narrowly wins against Merkel's party Posted by: superadmin - 09-27-2021, 12:59 PM - Forum: Politics - Replies (1) Germany's centre-left Social Democrats (SPD) have narrowly won the country's federal elections, beating the party of outgoing Chancellor Angela Merkel, according to preliminary results. The SPD secured 25.7% of the vote, while the ruling conservative CDU/CSU bloc gained 24.1%. The Greens achieved the best result in their party's history, coming in third with 14.8% of the ballot. A coalition must now be created to form a government. SDP leader Olaf Scholz earlier said his party had a clear mandate to rule, as his party started to edge into the lead. Exit polls predicted a dead heat, but this election has been unpredictable from the start, and the result was never going to be the end of the story. For one thing, the outgoing chancellor is going nowhere until the coalition is formed - and that may have to wait until Christmas. The successor's task is to lead Europe's foremost economy over the next four years, with climate change at the top of voters' agenda. Mr Scholz's SPD supporters greeted him in raptures, but it was only later when his party edged into the lead that he told a televised audience the voters had given him the job of forming a "good, pragmatic government for Germany". - More - Pages (1138): « Previous 1 … 839 840 841 842 843 … 1138 Next » Jump to page: