Saudi Aramco Q1 net income up 90%
... prices have dropped by US $30 per barrel from a peak in June due to growing supplies, but remain close to US $100. The OPEC group of oil-producing countries has been increasing production despite pressure from Western leaders including US President Joe Biden, who visited Saudi Arabia last month. Biden's trip was seen as a climb-down after he previously promised to make Saudi Arabia a pariah over the killing of Washington Post columnist Jamal Khashoggi by Saudi agents in Turkey in 2018. British Prime ...
Updated: 08/14/2022
Salman Rushdie off ventilator, talking, says Chautauqua Institution president
... Police, Jamestown. He was arraigned in a centralised arraignment on Saturday and was remanded without bail to the Chautauqua County Jail. The attack on Rushdie provoked shock and condemnation from world leaders and literary stalwarts. US President Joe Biden said on Saturday that he and First Lady Jill Biden were shocked and saddened to learn of the vicious attack on the author. Salman Rushdie stands for essential universal ideals with his insight into humanity, his unmatched sense for story, his refusal ...
Updated: 08/14/2022
TikTok employees overlap with Chinese state media
A new report found some overlap between hundreds of employees at TikTok's parent company ByteDance and Chinese state media outlets. A new report found some overlap between hundreds of employees at TikTok 's parent company ByteDance and Chinese state media outlets. According to Forbes , more than 300 workers have previously held positions in Chinese state media and 15 of them currently work for both of them, and there are hundreds of LinkedIn profiles for the tech firm's employees. According to...
Updated: 08/13/2022
China's military drills have clear ramifications for the global economy
... geopolitical interest for the U.S. due to the island's dominance in the global market for microchips. Semiconductors, which are used in everything from smartphones to cars, have become an integral part of our daily lives. In a 2021 report from the Biden Administration , it was stated that the United States is heavily dependent on a single company TSMC for producing its leading edge chips. The lack of domestic production capability puts at risk the ability to provide current and future national ...
Updated: 08/13/2022
Mazda cuts production, stockpile resources outside China
In the face of an uncertain future in the mainland, Japanese car manufacturer Mazda wants to bolster its supply lines outside of China. In the face of an uncertain future in the mainland, Japanese car manufacturer Mazda wants to bolster its supply lines outside of China. Mazda has been cutting production and stockpile resources outside its Chinese supply lines after years of compromised productivity due to the worldwide COVID-19 pandemic. The supply chain included Japanese, European, and mainland...
Updated: 08/13/2022
US to boost trade with Taiwan after China's provocation
... China's provocative behaviour, the White House said on Friday, August 13 as it insisted on the right of air and sea passage through the tense strait. Kurt Campbell , White House coordinator for Asia-Pacific issues and an adviser to President Joe Biden , said a new trade plan will be unveiled within a few days, while the US forces will transit the Taiwan Strait in the next few weeks. The statement came after Beijing raged last week at the trip by US House Speaker Nancy Pelosi , which launched ...
Updated: 08/13/2022
US lawyer who represented Khashoggi released from UAE
... Washington. Media reports in the US said Ghafoor, who lives in Virginia, had been under US surveillance in the past due to his work representing Muslim Americans in civil rights cases. In-absentia trial and his detention in July while the US president, Joe Biden , was visiting the region, drew criticism from rights groups and members of Congress . The supporters of Ghafoor said he was denied due process and was unaware of the charges before he was arrested. Some suggested that the arrest could be politically ...
Updated: 08/13/2022
1% tax on stock buybacks under Inflation Reduction Act seen as a boon for large companies
... outlook. What is the bill and how it will affect your portfolio, read: An investor's guide to the Inflation Reduction Act. The House of Representatives voted to approve the measure after it was passed by the Senate . It will be sent to President Joe Biden to sign shortly after. A proposal from the U.S. Securities and Exchange Commission could add enhanced rules around how companies can execute share repurchases and require more detailed disclosures, which could be a bigger concern for American ...
Updated: 08/12/2022
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