Business & Politics News and Discussions

weatheriscool
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Honda suspends exports to Russia, more Japanese automakers could follow
Source: reuters.com
Honda Motor (7267.T)said on Wednesday it has suspended exports of cars and motorcycles to Russia, signalling the likelihood more Japanese automakers would join the global swell of companies halting business with Russia after the invasion of Ukraine.

Western companies have spurned Moscow following the invasion, stopping sales in Russia and even saying they would exit investments there. Ford Motor (F.N) and other global automakers have already said they would suspend operations.

But the response of many Japanese firms has been more muted so far. Honda had suspended exports to Russia as of Wednesday, a spokesperson said, without elaborating when the suspension took effect.

The spokesperson said difficulty in shipping vehicles and making payments was the reason for the suspension. The automaker does not have factories in Russia, where it sold 1,406 cars in the 2020 financial year.
Read more: https://www.reuters.com/business/autos- ... 022-03-02/
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raklian
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Let's see if it makes it to Biden's desk. :lol:

To know is essentially the same as not knowing. The only thing that occurs is the rearrangement of atoms in your brain.
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raklian
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To know is essentially the same as not knowing. The only thing that occurs is the rearrangement of atoms in your brain.
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raklian
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To know is essentially the same as not knowing. The only thing that occurs is the rearrangement of atoms in your brain.
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caltrek
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Forbes List of Richest Shows Billionaire Growth Slowed in 2021
presented by Richard Mille

https://www.forbes.com/billionaires/

Introduction:
(Forbes) War, pandemic and sluggish markets hit the world’s billionaires this year. There are 2,668 of them on Forbes’ 36th-annual ranking of the planet’s richest people—87 fewer than a year ago. They’re worth a collective $12.7 trillion—$400 billion less than in 2021. The most dramatic drops have occurred in Russia, where there are 34 fewer billionaires than last year following Vladimir Putin’s invasion of Ukraine, and China, where a government crackdown on tech companies has led to 87 fewer Chinese billionaires on the list.

Still, Forbes found more than 1,000 billionaires who are richer than they were a year ago. And 236 newcomers have become billionaires over the past year—including the first ever from Barbados, Bulgaria, Estonia and Uruguay. America still leads the world, with 735 billionaires worth a collective $4.7 trillion, including Elon Musk, who tops the World’s Billionaires list for the first time. China (including Macau and Hong Kong) remains number two, with 607 billionaires worth a collective $2.3 trillion. We used stock prices and exchange rates from March 11, 2022 to calculate net worths. See below for the full list of the world’s billionaires and our methodology. (see link above quote box).
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weatheriscool
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Johnson & Johnson ordered to pay $302M in pelvic mesh case
Source: AP
SAN DIEGO (AP) — A California appeals court has upheld a lower court ruling that Johnson & Johnson must pay penalties to the state for deceptively marketing pelvic mesh implants for women, but reduced the amount by $42 million to $302 million.

Johnson & Johnson had appealed in 2020 after Superior Court Judge Eddie Sturgeon assessed the $344 million in penalties against Johnson & Johnson subsidiary Ethicon.

Sturgeon found after a non-jury trial that the company made misleading and potentially harmful statements in hundreds of thousands of advertisements and instructional brochures for nearly two decades.

California’s Fourth District Court of Appeal issued a ruling Monday that $42 million in penalties assessed for the company’s sales pitches to doctors were unjustified because there was no evidence of what the sales representatives actually said.


Read more: https://apnews.com/article/health-busin ... afed7011db
weatheriscool
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Judge rules Amazon must reinstate fired warehouse worker
Source: AP

By HALELUYA HADERO
A judge has ruled Amazon must reinstate a former warehouse employee who was fired in the early days of the pandemic, saying the company “unlawfully” terminated the worker who led a protest calling for Amazon to do more to protect employees against COVID-19.

The dispute involving Gerald Bryson, who worked at an Amazon warehouse in the New York City borough of Staten Island, has stretched on since June 2020, when Bryson filed an unfair labor practice complaint with The National Labor Relations Board, claiming Amazon retaliated against him.

Later that year, the NLRB said it found merit in Bryson’s complaint that Amazon illegally fired him for workplace organizing. Amazon didn’t accept the findings, and the federal board filed a formal complaint against the company, triggering a lengthy administrative court process.

On Monday, administrative law judge Benjamin Green said Amazon must offer Bryson his job back, as well as lost wages and benefits resulting from his “discriminatory discharge.” Amazon spokesperson Kelly Nantel said in a statement that the company will appeal the ruling.
Read more: https://apnews.com/article/covid-health ... 1e77a93254
weatheriscool
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China, Russia, five others make US property rights blacklist
Source: AP

WASHINGTON (AP) — The United States has put China, Russia and five other countries on its annual blacklist for lax enforcement of intellectual property rights that leaves American companies vulnerable to copyright and trademark piracy.

All seven countries on this year’s list were on last year’s, too.

“China continues to be the largest origin economy for counterfeit and pirated goods,’’ according to the report.

Also on the Office of the U.S. Trade Representative’s “priority watch list’’ were Argentina, Chile, India, Indonesia and Venezuela.

Read more: https://www.msn.com/en-us/news/politics ... ar-AAWENvb
weatheriscool
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U.S. Companies Added 247,000 Jobs in April, ADP Data Show

-- Hiring was weaker than forecast, smallest gain of recovery

-- Other data suggest labor market robust ahead of Fed decision

U.S. companies added in April the fewest jobs in the pandemic recovery, underscoring the persistent challenges faced by small firms to increase headcount in a tight labor market.

Businesses' payrolls increased by 247,000 last month, after a revised 479,000 gain in March, according to ADP Research Institute data released Wednesday. The median estimate in a Bloomberg survey of economists called for a 383,000 advance. ... Businesses with 500 or more employees posted solid hiring gains, but those with less than 50 lost 120,000 jobs in April, the worst in two years.

"While hiring demand remains strong, labor supply shortages caused job gains to soften for both goods producers and services providers," Nela Richardson, chief economist at ADP, said in a statement. "As the labor market tightens, small companies, with fewer than 50 employees, struggle with competition for wages amid increased costs."

The weaker-than-expected advance suggests firms are making little progress filling a record number of job openings despite recent wage increases. Many businesses still desperately want to hire more workers, but a depressed participation rate continues to limit further employment growth. ... The figures precede the government's monthly jobs report on Friday, which is currently forecast to show private payrolls increased by 390,000 in April. The ADP figures don't always follow the same pattern as the Labor Department's data.

{snip}
Read more: https://www.bloomberg.com/news/articles ... -data-show
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caltrek
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Study Finds That Despite Ideals People Don’t Really Like Reducing Inequality
May 6, 2022

https://www.eurekalert.org/news-releases/951951

Introduction:
(EurekAlert) Berkeley, Calif—Most Americans say they want a more equal society, yet policies aimed at increasing equality for disadvantaged groups in higher education, corporations, government, and elsewhere continue to generate backlash.

This backlash has been blamed on a range of causes—including majority white Americans’ fears of losing their status, political partisanship, and overt prejudice.

A study by Berkeley Haas researchers, publishing today in the journal Science Advances, offers a new take, identifying an underlying cause of this opposition that cuts across ideologies: People in advantaged positions view equality itself as harmful, and tend to think that inequality benefits them.

“We found that people think of the world in zero-sum terms, so that a gain for one group must necessarily be a loss for another,” says study co-author Derek Brown, a Berkeley Haas doctoral student. “This seems to be a cognitive mistake that everyone is susceptible to, not just a vociferous minority that has antipathy toward any certain group.”

The paper, co-authored by Berkeley Haas assistant management professor Drew Jacoby-Senghor along with Columbia University PhD student Isaac Raymundo, helps explain why even people with strong egalitarian beliefs may still block policies that reduce disparities. Beyond the threat of losing status, people in advantaged groups are prone to the perception that greater equality means less for them—to the point where they’ll vote for policies that cause them economic harm and increase inequality over policies that benefit them and reduce inequality, the study found.
Don't mourn, organize.

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