
China Vows ‘Zero Tolerance' for Smuggling of Critical Minerals
At a meeting on Saturday, China's coordination office on export control highlighted recent cases of critical-mineral smuggling involving false declarations and transshipments through third countries, according to the state broadcaster CCTV.
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Yahoo
30 minutes ago
- Yahoo
It Ain't No Lie, Toymakers Are Saying Bye, Bye, Bye to Batteries
Since the beginning of President Donald Trump's tariff tactics to realign the U.S.'s position in the global manufacturing landscape, many have questioned the impact these taxes would have on the toy industry, which imports most of its products from overseas. At first, the president made light of it, saying children would have two dolls instead of 30 when tariffs increase consumer prices, but then the market started to see the real-world fallout. Most Popular News: Was Hulk Hogan's Beer Stolen? Clorox Comes Clean About $380 Million Ransomware Nightmare 5 Million Pools Recalled: Child Safety Alert Walt Disney Robot Made with Same Tech He Helped Pioneer 60 Years Ago Podcast: Hulk Hogan Lawsuit; Clock Company Closes; World's Skinniest EV In May, Mattel announced that it would need to raise prices on its products to offset higher supply chain costs. The following month, Hasbro cut some 150 workers and said it would have to raise consumer prices to adjust to increased costs. According to the Toy Association, about 80% of toys sold in the U.S. are imported from China. Now, according to Reuters, toy makers are looking for ways to further cut costs to cushion the blow from a 30% blanket tariff on Chinese goods, and it has translated to product and packaging redesigns. The first to go, which may rile the "back in my day" members of the crowd, are batteries. Toymakers are also reducing accessories, such as fewer plates in toy kitchens and less makeup on dolls, while still increasing prices and using cheaper packaging. CEO of toymaker Basic Fun! Jay Foreman told Reuters it's pretty simple: the consumer will either pay more or get less. These design overhauls typically take about a year to implement, and while companies are cutting the number of products in their portfolio in the interim, they still need something on shelves this holiday season. It's a tricky balancing act for manufacturers, who need to make a toy families can afford, but one that kids still want to play with—we will soon see what that looks like. Click here to subscribe to our daily newsletter featuring breaking engineering industry news. Solve the daily Crossword


Gizmodo
an hour ago
- Gizmodo
Court Rules Mike Lindell Doesn't Have to Pay $5 Million in Hacked Voting Machine Bet
Mike Lindell, the founder and CEO of MyPillow, could be considered a loser in many ways, but not in a way that will cost him $5 million. The New York Times reports that a federal appeals court ruled on Wednesday that Lindell will not have to pay out the prize money for his 'Prove Mike Wrong' challenge, which offered up a $5 million reward to anyone who could sufficiently debunk his baseless claim that the 2020 election was stolen from Donald Trump. Lindell offered up the prize money in 2021 during his 'Cyber Symposium' event that he held in South Dakota, in which he laid out his 'evidence' to prove that China hacked US voting machines and changed votes. Lindell invited cybersecurity experts to the event and offered up the prize money to anyone in attendance who could prove his findings to be inaccurate—a challenge that software engineer Robert Zeidman took on. If you assume that proving Lindell's findings are false would be easy, you're not wrong. Lindell's argument primarily hung on the idea that data from voting machines could be seen moving across Chinese servers. According to Zeidman's account, he determined that Lindell's files of 'proof' that votes were being manipulated by China were, in fact, a collection of nonsense data. Zeidman told Politico that the supposed 'evidence' contained no voting machine packet capture data that would have shown the votes being transferred to Chinese servers. So he wrote up his report, submitted it, and sat back and waited for his $5 million payday. The hard part, it turns out, is getting conspiracy theorists to admit they are wrong. Zeidman said he never heard from Lindell and had to file an arbitration lawsuit to have a court adjudicate whether he actually debunked the MyPillow guy's findings. In 2023, a private arbitration panel ruled in Zeidman's favor, determining that he proved 'unequivocally' that Lindell's data did not reflect 2020 election data. Lindell was given 30 days to pay up. Now it looks like that payday will probably never come. Lindell appealed the ruling and got a decision in his favor, thanks to the fact that he provided extremely broad rules that apparently gave him lots of outs. 'From the four corners of the Challenge contract as defined by the Official Rules, there is no way to read 'information related to the November 2020 election' as meaning only information that is packet capture data,' the court ruled. 'It's a great day for our country,' Lindell told the Times, as if the entire United States was holding its breath, hoping that Mr. MyPillow wouldn't have to give up any of his money. While Lindell seems to have wriggled out of this case for now, he'll still have plenty more lawyer fees in front of him. Earlier this year, a court ruled that he must pay $2.3 million to a former employee of Dominion Voting Systems after Lindell called the worker a 'traitor to the United States.' Lindell plans to appeal that one, too.
Yahoo
2 hours ago
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US House panel subpoenas JPMorgan, Bank of America CEOs over IPO of China's CATL
WASHINGTON (Reuters) -The U.S. House of Representatives Select Committee on China said on Thursday it sent subpoenas to JPMorgan Chase CEO Jamie Dimon and Bank of America CEO Brian Moynihan over their roles in underwriting the initial public offering of Chinese battery manufacturer CATL.