The area where the quake struck is densely populated and prone to landslides, with poorly-built houses. Rescuers have been trying to evacuate people from collapsed buildings, and managed to save a woman and her baby.
The official death toll from a severe earthquake that struck an Indonesian city 100km south of Jakarta has risen to 162. (FT)
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» Carmakers try to water down US push to cut China from EV supply chain | Financial Times ft.com/content/2bcb1c…
While carmakers initially welcomed the new law, companies and their trade groups have been pushing for a loosening of the rules around what would be counted as a Chinese-owned company, with some advocating for a small amount of Chinese content to continue to be allowed.
Ford, Stellantis and Volkswagen are among the carmakers asking regulators to establish a threshold allowing a small amount of Chinese content in batteries. Volkswagen suggested setting it at 10% or less.
“Silicon Valley has long seemed to operate on a foundational myth that its leading lights, having mastered an alchemy of electronics, code and early stage investing, are not just a breed apart, but could also defy the gravitational laws that apply to mere mortals.”
For big tech companies like Meta, there was the delusion, which Mark Zuckerberg acknowledged when announcing layoffs of more than 11,000 employees, that the world would change little once pandemic lockdowns lifted.
In the case of FTX, veteran investment firms collectively dumped nearly $2 billion into a startup with no real oversight led by a 30-year-old founder, Sam Bankman -Fried, who conducted business meetings while playing videogames.
China's leadership was always planning to take the opportunity of a new government in Australia to attempt a reset in relations, but what is striking is that this reset has happened almost entirely on Canberra's terms.
It will be a cold peace. The interests and preferred global and regional order of the two nations are simply too divergent now. Australian policymakers no longer view China's rise as benevolent.
Switzerland is a member of the European Free Trade Association, which, thanks to about 120 bilateral accords, participates in the single market for most goods. But it also has to accept free movement of labor, EU market regulations and makes annual payments to the bloc’s budget.
The push-back shows the bind Sunak is in as he and Jeremy Hunt seek to boost the UK’s economy, which the Chancellor of the Exchequer said last week is already in a recession that’s predicted to last through 2023.
While calls have grown in some Europe to get tougher with Beijing on issues related to human rights and democracy, the sweeping US export controls on chips have shifted the conversation from fears about China to concern about American over-reach. finance.yahoo.com/news/europe-re…
In a meeting with Rutte in Bali, Xi urged the Dutch leader to avoid “decoupling” as the US piles pressure on ASML, which has a virtual monopoly on a type of machine needed to make the most advanced chips.