Jumat, 20 September 2019

China Detains FedEx Pilot Amid Rising U.S.-China Tensions - The New York Times

SHANGHAI — Authorities in southern China have detained an American pilot who works for FedEx, in the latest in a series of difficulties for American travelers and companies in China.

The pilot had been waiting to catch a commercial flight out of the city of Guangzhou, where FedEx has a huge hub. In a statement, FedEx said authorities had found an object in his luggage, though it did not specify what the object was.

The pilot was released on bail, FedEx said. “We are working with the appropriate authorities to gain a better understanding of the facts,” it said in a statement and declined to comment further.

The Wall Street Journal, which reported the detention on Thursday, said that the pilot had been carrying nonmetallic pellets used in air guns, and that he was a United States Air Force veteran named Todd A. Hohn who had been trying to catch a flight to his home in nearby Hong Kong.

The Air Line Pilots Association International, the union representing most American pilots, declined to discuss the case, as did Mr. Hohn’s lawyer. The municipal foreign affairs office in Guangzhou declined to comment and referred questions to the police, who did not answer telephone calls.

FedEx is one of a number of companies that have been caught between Washington and Beijing as the trade war has intensified. But it is not clear whether the pilot’s detention was related to the company’s problems in China.

As trade frictions and other disputes fester between the United States and China and as China itself becomes more authoritarian, more Americans have found themselves stuck in China and unable to leave. A Koch Industries executive was held in southern China and interrogated for days in June before being allowed to exit the country.

The State Department issued a travel advisory for China in January, warning Americans, particularly those with dual Chinese-American citizenship, that they may not be allowed to leave China if they go there.

A growing number of foreign companies, particularly American companies but also Canadian and European businesses, have responded by scrutinizing but not prohibiting travel to China by executives and employees.

But the quick release of the pilot, although without allowing him to leave the country, may indicate that China is not eager to turn him into a bilateral issue, said James Zimmerman, a partner in the Beijing office of Perkins Coie, a global law firm.

“The fact that he was released is a critically important message and a positive sign — Beijing probably ordered his release to minimize the significance of the issue, and this is an indication that Beijing doesn’t want this case to be a huge distraction.” Mr. Zimmerman said.

Mr. Zimmerman said that China does not have a bail system as it is generally understood in the West. China relies more on severe travel restrictions on people who are released from detention but remain under investigation.

The detention comes as the United States and China are trying to reach at least a partial truce in their 15-month trade war. Chinese officials have been eager to head off further tariffs that President Trump has planned to impose on Oct. 15 and Dec. 15, but are also loath to agree to the broad Chinese policy changes sought by the Trump administration.

It was unclear on Friday if Chinese authorities had deliberately targeted the pilot because he worked for FedEx. The detention came as Chinese airports have visibly increased security measures in recent months. The authorities have paid particular attention to travelers going to or from Hong Kong, a semiautonomous Chinese territory where large and increasingly violent protests have taken place every weekend this summer.

China has strict laws not just against the possession of weapons but also against the possession of any kind of ammunition.

FedEx has had a series of difficulties in China in recent months. China has accused FedEx of delaying shipments last May by Huawei, the Chinese telecommunications giant accused by American officials of working with Chinese intelligence — accusations that Huawei denies.

FedEx has also been working with Chinese authorities to investigate how one of its American clients was allowed to send a gun to a sporting goods store in southeastern China. The gun was also detected and stopped by Chinese authorities.

Chinese nationalists have called in recent weeks for FedEx to be included on a list of “unreliable entities” that the country’s Commerce Ministry has been drafting. The drafting has begun in response to the United States Commerce Department’s decision to begin putting Huawei on an “entities list” of foreign companies to which goods can only be exported from the United States with special licenses.

Cathay Pacific, a large airline based in Hong Kong, has separately come under heavy scrutiny by the Chinese government after some of its employees expressed support for pro-democracy protesters in Hong Kong. China threatened to revoke the airline’s access to its airspace unless Cathay reined in its employees.

Cathay Pacific and FedEx are two of the largest airlines hauling Chinese exports to the United States. Much of China’s electronics exports, particularly higher-value items like iPhones, travel by air.

In addition to scrutinizing travelers to and from Hong Kong very closely, the Chinese government has also begun checking foreigners visiting or living in the country for any possession or recent use of drugs, sometimes even weeks or months before the foreigners came to China. That has also produced a series of detentions.

Travel experts now strongly advise anyone going to China to carry prescription medicines in their original containers, and not to carry any prescription medicines that may be illegal in China, like prescription cannabis.

FedEx is a well-known company in China as well as in the United States. By coincidence, HBO showed in China on Thursday night the Tom Hanks movie “Cast Away,” the fictional story of a FedEx manager marooned on a Pacific island for years.

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https://www.nytimes.com/2019/09/20/business/fedex-china-pilot-detained.html

2019-09-20 05:15:00Z
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Kamis, 19 September 2019

Tesla's Model 3 joins Audi's E-Tron in claiming top safety award - Engadget

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IIHS

The Tesla Model 3 has joined the Audi E-Tron as one of the safest cars on the road, earning a Top Safety Pick+ award from the Insurance Institute for Highway Safety (IIHS). The organization said that the Model 3 earned "good" ratings across the board for tricky accidents like driver- and passenger-side "small overlap front" crashes (below). It also did well to avoid collisions in the first place during 12 mph and 25 mph track tests.

Last month, Audi's flagship E-Tron also garnered a 2019 Top Safety Pick+ award, becoming the first EV to do so, according to the organization. That vehicle also impressed the IIHC with its crash ratings, collision avoidance systems and headlights that automatically dim thanks to a high-beam assist feature.

Along with the two EVs, another alternative fuel vehicle, the hydrogen fuel cell powered Hyundai Nexo, also qualified for a Top Safety Pick+. Chevy's Bolt, meanwhile, earned "good" ratings in most crash tests, but failed to receive a Top Safety Pick award because its headlights gave off too much glare to oncoming drivers.

Tesla's Model 3 has previously received a five-star safety rating from the NHTSA. However, it got into trouble with the organization for making certain safety claims about the Model 3 in its marketing materials. The NHTSA issued a cease and desist letter and referred the matter to the FTC.

The IIHS awards buttress the argument that EVs are safer than internal combustion engine (ICE) vehicles in a crash. Without a large, heavy gasoline engine in the front, the theory goes, manufacturers are better able to design the structure to absorb impacts and protect the occupants. "The fact that the battery can be placed in in a variety of places, maybe with more flexibility than a gas tank, [also] provides the potential to make electric vehicles safer," chief IIHS research officer David Zuby told CNBC.

The IIHS hedged that a bit, though, saying that EVs aren't "inherently" safer than ICE cars. However, Zuby noted that the vehicles seem to be at least on an equal footing. "There's no need to trade away safety for a lower carbon footprint when choosing a vehicle," he said.

Source: IIHS
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https://www.engadget.com/2019/09/19/tesla-model-3-iihs-top-safety-pick-plus/

2019-09-19 09:31:15Z
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OECD Sees Global Economy Slipping to Weakest Growth in a Decade - Bloomberg

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  1. OECD Sees Global Economy Slipping to Weakest Growth in a Decade  Bloomberg
  2. OECD says global economy will grow at worst pace since financial crisis  MarketWatch
  3. Global Growth to Hit Decade Low Amid U.S.-China Trade War  The Wall Street Journal
  4. Rising trade conflicts are weakening the global economy  OECD
  5. No-deal Brexit will cut 3% off UK economic growth, warns OECD  The Guardian
  6. View full coverage on Google News

https://www.bloomberg.com/news/articles/2019-09-19/global-economy-seen-slipping-toward-weakest-growth-in-a-decade

2019-09-19 09:00:00Z
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US futures point to slightly lower open after Fed cuts rates - CNBC

U.S. stocks were set to open slightly lower Thursday morning.

At around 1:44 a.m. ET, Dow futures fell 50 points, indicating a negative open of more than 53 points. Futures on the S&P and Nasdaq were also trading lower.

Wall Street ended Wednesday's session little changed after the Federal Reserve did not match market expectations of further rate cuts this year. The central bank cut the overnight rate by 25 basis points on Wednesday. This is the second time this year the Fed has lowered rates.

Money managers are following a new round of face-to-face talks between Chinese and American officials, starting in Washington later Thursday.

In terms of data, there will be jobless claims and current account numbers due at 08:30 a.m. ET, and existing home sales due at 10:00 a.m. ET.

On the earnings front, Darden Restaurants, Scholastic and Steelcase will be reporting.

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https://www.cnbc.com/2019/09/19/dow-futures-fed-rate-cut.html

2019-09-19 06:15:02Z
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Tesla Model 3 earns IIHS Top Safety Pick+, highest possible safety award - Electrek

The Insurance Institute for Highway Safety has announced that the Tesla Model 3 has won its highest safety award, Top Safety Pick+, after achieving “good” ratings across the board in all of their test categories.  The Model 3 is the second battery electric vehicle to win the award, after the Audi e-tron won it last month.

The Model 3 has won several other safety plaudits, including 5-star ratings in all categories and the lowest probability of injury ever tested from NHTSA, 5 stars from from Euro NCAP while being hailed as setting a “new safety technology benchmark,” and 5-stars from the Australiasian NCAP.

IIHS’ “Top Safety Pick” award requires vehicles to earn “good” ratings in the driver-side small overlap front, moderate overlap front, side, roof strength and head restraint tests, and a good or acceptable rating in the passenger-side small overlap test.  Vehicles also must have a front crash prevention system with an advanced or superior rating and good- or acceptable-rated headlights.

The highest-tier award, “Top Safety Pick+,” further requires “good” ratings in the passenger-side small overlap test and the headlight evaluation.

The Model 3 managed to achieve “good” ratings in headlights and all categories for crash safety, along with a “superior” rating for front crash prevention.  The only injury risk recorded in IIHS tests was a moderate risk of leg injury in driver-side small overlap front crash tests.

In the same release, IIHS stated that the Chevy Bolt narrowly missed out on a Top Safety Pick award due to “poor” headlight performance and an “acceptable” passenger-side small overlap rating.

The Model S previously missed a Top Safety Pick award for the same reason – “poor” headlight performance.

Here’s a video from IIHS announcing the awards, with photos and video from the testing procedures.  Tesla fans, if you’re squeamish, you may not want to watch this one:

IIHS Chief Research Officer David Zuby was quoted in the release, stating that “vehicles with alternative powertrains have come into their own.  There’s no need to trade away safety for a lower carbon footprint when choosing a vehicle.”  The Hyundai Nexo, a fuel cell vehicle, has also earned a Top Safety Pick+ award.

Tesla responded to this news with a blog post touting the award, stating:

We engineer our cars to be the best in the world – in every category. Model 3, our most affordable car yet, is no exception. From the start, we designed it to be among the safest cars ever built, with the goal of getting as many Model 3s on the road as possible to further our mission.

The safety of our customers is what matters most, which is why our active safety features and passive safety equipment come standard on all of our cars. We’re also committed to making our cars even safer over time via over-the-air updates, helping us ensure that all Tesla drivers have access to the best safety features available for their cars.

Tesla was particularly proud of the strength of the Model 3’s all-glass roof, which resisted 20,000 pounds of force during testing – more than the weight of five Model 3s stacked on top of each other.

Previously, IIHS had said that Model 3’s front crash prevention was “superior,” but had criticized the earliest cars for their headlights, rating them only “acceptable.”  Tesla improved the headlights, and IIHS increased their rating.

Click through to IIHS website for a full breakdown of how the Model 3 fared in every test category.  Several videos have been posted showing individual side, moderate overlap, and driver-side small overlap crash tests.

Electrek’s Take

We’ve heard a lot of nonsense lately from people trying to suggest that electric cars aren’t as safe as ICE cars – as if having a giant tank of flammable fluid which is constantly being combusted at a rate of thousands of times per minute is somehow supposed to make a car safer.

One reason among many that EVs can be made safer than gas cars is because EVs can have larger front crumple zones.  Since there’s no engine under the hood, crash energy can be dissipated over a longer area, which slows the car down more gradually and thus reduces the amount of crash energy transferred to the driver.  In this way, when a car crumples in a crash, it helps to make the occupants safer.  Crumple zones have been used in cars since the 1950s.

But despite these advantages, just hours ago we heard the argument that reducing fuel efficiency is supposed to make cars safer.  This is a ridiculous assertion, as we covered earlier on Electrek.

So it’s nice to have yet another confirmation, and a timely one at that, that the current best-selling EV is indeed not only “safe enough,” but safer than almost all other vehicles on the road.


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https://electrek.co/2019/09/19/tesla-model-3-iihs-top-safety-pick-highest-award/

2019-09-19 05:09:00Z
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Union protesters arrested at Tennessee GM plant - Fox Business

The strike against General Motors is now into a fourth day.

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Tensions are rising as a United Auto Workers official says about seven to nine union picketers were arrested for blocking a roadway at a GM plant in Tennessee.

The arrests came Wednesday at the Spring Hill plant, according to Local UAW Chairman Mike Herron.

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Authorities asked the protesters multiple times to get out of the road. Herron said he believes the protesters were afraid trucks might get into the plant.

Herron said at a news conference that police and the sheriff's department have done a fantastic job and have been supportive during the ongoing strike.

He said arrests take the union off its message.

Meanwhile, the strike by 49,000 United Auto Workers is starting to affect production in other countries.

TickerSecurityLastChange%Chg
GMGENERAL MOTORS COMPANY38.18-0.11-0.29%
FFORD MOTOR COMPANY9.25-0.03-0.32%
FCAUFIAT CHRYSLER AUTOMOBILES N.V.13.710.000.00%

Company spokesman Dan Flores confirms that the strike has forced GM to place about 1,200 workers on temporary layoff at a Canadian factory that makes pickup trucks.

The plant in Oshawa, Ontario, near Toronto makes the previous generation Chevrolet Silverado and GMC Sierra full-size pickups.

The Silverado is GM's top-selling vehicle in the U.S.

The plant also makes the Chevrolet Impala large car, and that production has not been affected.

Flores says production continues at two other Canadian plants which make engines and the Chevrolet Equinox SUV.

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He says parts shortages due to the strike have not affected production in Mexico.

The Associated Press has contributed to this article.

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https://www.foxbusiness.com/markets/union-protesters-arrested-at-tennessee-gm-plant

2019-09-19 04:49:36Z
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Rabu, 18 September 2019

What's moving markets today: Live updates - CNN

US stocks are set to open slightly lower, with stock futures trading in the red.

Futures for the Dow are down 36 points, or 0.1%, while those for the S&P 500 are down 0.2%. Nasdaq Composite futures are off by 0.2%.

Stocks edged higher Tuesday as investors were digesting the latest developments in commodities markets. Attacks on Saudi Arabian oil production facilities over the weekend sent oil prices soaring more than 14% on Monday. But amid hopes that Saudi production would be up and running again in a matter of weeks, prices came down again Tuesday.

US oil futures are continuing on that path Wednesday, down nearly 1% at $58.77 a barrel.

Brent crude, the international benchmark, is down 0.5% at $64.24 a barrel.

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https://www.cnn.com/business/live-news/stock-market-news-today-091819/index.html

2019-09-18 10:35:00Z
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