Prabowo's Food Estate Chief Quits, Citing Zero Budget
Joao Angelo de Sousa Mota, a former activist affiliated with the president's political party, bowed his head and apologized to farmers and the nation as he announced his departure from PT Agrinas Pangan Nusantara on Monday in remarks broadcast by local station Kompas TV.
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Yahoo
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- Yahoo
Chinese state media calls U.S. a 'surveillance empire' over trackers in chip shipments
BEIJING (Reuters) -The United States' practice of installing location trackers in chip shipments at risk of diversion to China reflects the "instincts of a surveillance empire," China's state-run media outlet Xinhua said in a commentary published on Friday. Reuters reported earlier this week that U.S. authorities had secretly placed location tracking devices in targeted shipments of advanced chips to detect diversions to China, which is under U.S. curbs for advanced chip exports. The Xinhua commentary, titled "America turns chip trade into a surveillance game," cited "reports" that Washington had embedded such trackers, accusing the United States of running "the world's most sprawling intelligence apparatus". The U.S. government has in the past few years tightened restrictions on the exports of advanced chips as well as related technology and equipments to China, as the two superpowers vie for technological dominance. The Chinese commentary follows longstanding accusations from Washington and its Western allies that China could use some exported products, from telecommunications equipment to vehicles, for surveillance, posing potential security risks. In 2022, the Biden administration banned the sale and import of new telecommunications equipment from several Chinese firms, including Huawei, citing national security concerns. In January, it intensified scrutiny by targeting China-made cars and trucks. In its commentary, Xinhua accused the U.S. government of seeing its trading partners as "rivals to be tripped up or taken down," adding that "if U.S. chips are seen as Trojan horses for surveillance, customers will look elsewhere." China's cyberspace watchdog last month said it had asked U.S. chipmaker Nvidia to explain whether its H20 chips had any backdoor security risks - a hidden method of bypassing normal authentication or security controls. Chinese authorities have also cautioned domestic tech firms over their use of H20 chips, Reuters recently reported.
Yahoo
a few seconds ago
- Yahoo
Ottawa, province, city to buy Canadian, single-source Toronto subway contract: TTC
TORONTO — The Toronto Transit Commission says all three levels of government have agreed to single-source a subway contract in an effort to support Canadian jobs. The transit agency says the decision to pursue the contract for Line 2 subway trains from Alstom Transport Canada comes in the face of U.S. tariffs and economic uncertainty. The TTC says the base procurement is 70 new train sets in total, including 55 that will be jointly funded by the federal, provincial and municipal governments. It says the current competitive process for the trains has been cancelled and all bidders have been notified. Part of Alstom's requirements for building the trains will be to "maximize Canadian content." The announcement comes after the province previously called for a single-source deal for the new fleet. In June, provincial transport minister Prabmeet Sarkaria penned a letter to his federal counterpart Chrystia Freeland requesting that Ottawa consider sole-source procurement of the trains. The TTC says negotiations for the contract are expected to take place over the next few months. This report by The Canadian Press was first published Aug. 15, 2025. The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fast Company
2 minutes ago
- Fast Company
Data shows China's economy lagged in July due to Trump's tariffs
China's economy showed signs of slowing in July as factory output and retail sales slowed and housing prices dropped further, according to data released Friday. Uncertainty over tariffs on exports to the United States is still looming over the world's second-largest economy after President Donald Trump extended a pause in sharp hikes in import duties for 90 days, beginning Monday, following a 90-day pause that began in May. As officials worked toward a broader trade agreement, China reported earlier that its exports surged 7.2% in July year-on-year, while its imports grew at the fastest pace in a year, as businesses rushed to take advantage of the truce in Trump's trade war with Beijing. But that also reflected a lower base for comparison, and manufacturers have slowed investments, hiring and production as they watch to see what comes. Chinese manufacturers also have ramped up shipments to Southeast Asia, Africa and other regions to help offset lost business in the U.S. 'Exports remained a bright spot although the boost from front-loading appears to be tapering off and has started to show up in weak industrial production, as we anticipated,' Oxford Economics' Sheana Yue wrote in a report. China also has been enduring flooding from torrential seasonal rains that have disrupted business activity in many parts of the country. The statistics bureau's report said the economy had shown 'notable resilience and vitality against the complex and volatile external environment and adverse impacts from extreme domestic weather.' Annual growth in industrial output slowed to 5.7% in July from 6.8% in June, the National Bureau of Statistics said. That was an 8-month low. Investments in factory equipment and other fixed assets rose a meager 1.6% in January-July, compared with 2.8% growth in the first half of the year. 'Chinese economic activity slowed across the board in July, with retail sales, fixed asset investment, and value added of industry growth all reaching the lowest levels of the year,' Lynne Song of ING Economics said in a report. Property investments plunged 12% in the first seven months of the year, with residential housing investment dropping nearly 11%. Prices for newly built housing in major cities fell 1.1%, as a prolonged downturn in the property industry lingered. Yue of Oxford Economics said prices could continue to fall before stabilizing in 2028. The meltdown in the housing market hit just as the COVID -19 pandemic began, sapping one of the economy's main drivers of growth and causing dozens of developers to default on their debts. The crisis rippled throughout the economy, destroying jobs for millions of people. The government has sought to ensure that most housing that was paid for gets built, but sales remain weak despite a series of moves meant to entice families into back into the market. Since most Chinese families have their wealth tied up in property, the anemic housing market has been a major factor crimping consumer spending. In July, retail sales rose 3.7%, the slowest rate in seven months and down from a 4.8% increase in June. The unemployment rate rose to 5.2% from 5% as university graduates began looking for work. While consumer prices rose 0.4% in July from the month before, prices at the wholesale level slipped 3.6% from a year earlier in another indicator of relatively weak demand.
