Saturday, July 20

Economy

Yellen Urges Israel to Restore Economic Ties to West Bank
Economy

Yellen Urges Israel to Restore Economic Ties to West Bank

Associated media - Associated media Since Hamas’s brutal Oct. 7 attack on Israel, the Israeli government has been withholding tax revenues that it collects on behalf of Palestinians. Traditionally, that money has been distributed back to the Palestinian Authority, which used it to fund its operating budget. Israel has previously frozen and then released that tax revenue during periods of conflict with the Palestinians. The White House national security communications adviser, John Kirby, said last month that President Biden had discussed with Mr. Netanyahu the need to ensure that the tax revenues were available to pay salaries for Palestinian security forces in the West Bank. Ms. Yellen said on Tuesday that she was encouraged that revenue was starting to make its way to the West Bank...
Eye Ointments at CVS and Walmart Pulled Because of Infection Risk
Economy

Eye Ointments at CVS and Walmart Pulled Because of Infection Risk

Related media - Related media “The products are being recalled due to lack of sterility assurance at the facility noted during an inspection conducted by the Food and Drug Administration,” the announcement said. It added that, as of Feb. 16, the company had not received any reports of adverse reactions related to these products. The products are intended to be sterile, the administrator said, because drugs applied to the eyes bypass some of the body’s natural defense systems. Other eye products have been recalled in recent months. In October, the F.D.A. advised consumers to stop using more than two dozen over-the-counter eyedrop products sold at stores including Target, CVS and Walmart after inspectors found unsanitary conditions at a manufacturing plant. Bacterial tests came back po...
Starbucks and Union Agree to Work Out Framework for Contract Talks
Economy

Starbucks and Union Agree to Work Out Framework for Contract Talks

Connected media - Associated media Workers who have helped lead the organizing said the development had surprised them. “It still feels pretty surreal right now,” said Michelle Eisen, a longtime barista at a Starbucks in Buffalo that was the first company-owned store to unionize during the current campaign. “There has not been a single call I’ve been on today where either I wasn’t crying or everyone else wasn’t crying.” If a framework is agreed to and quickly leads to contracts, experts said, it could be a major development in labor relations in corporate America, where companies like Amazon and Apple have resisted union organizing to varying degrees. “If Starbucks genuinely intends to respect workers’ right to organize, stop its intimidation and harassment of pro-union workers, and ...
Alabama IVF Ruling: What to Know About the Costs of Moving Embryos
Economy

Alabama IVF Ruling: What to Know About the Costs of Moving Embryos

Related media - Connected media “There’s a lot that goes into moving these safely and properly,” said Angeline Beltsos, chief executive physician at Kindbody, which has 35 clinics across the country and provides fertility benefit coverage for employers, including Walmart. Will my health insurance cover the cost to move my embryos if I can no longer get I.V.F. in my home state? Maybe. Some coverage could be broad enough to pay for the transport of embryos. “It is likely that employees working for large employers have some kind of coverage,” said Elizabeth Mitchell, the chief executive officer of Purchaser Business Group on Health, which represents large employers that provide benefits for their workers. Would fertility coverage pick up my treatment elsewhere? Maybe, and it’s more like...
Apple Kills Its Electric Car Project
Economy

Apple Kills Its Electric Car Project

Connected media - Connected media Though Apple had not unveiled its car to consumers, the product had for many years been one of Silicon Valley’s worst-kept secrets because it was being tested on public roads. The cancellation is a rare move by Apple, which typically doesn’t shelve such public and high-profile projects. The company has struggled in recent years to find new avenues for growth as its all-important iPhone has saturated the market and people are upgrading their phones less frequently than they used to. Tim Cook, Apple’s chief executive, has publicly hinted that Apple was interested in entering the car space. The company had also been testing hundreds of vehicles equipped with autonomous driving technology in public for many years. The car, internally code-named Titan and...
The Apple Car is Dead, But the Innovation Behind It Lives on
Economy

The Apple Car is Dead, But the Innovation Behind It Lives on

Related media - Related media Innovation on wheels Has Apple really crashed the car? The tech giant has killed its electric vehicle project as it pivots to artificial intelligence, prompting many observers to declare the venture a major failure for the company. Here’s a contrarian thought: That critique misses a wider point about how Apple innovates, because the company has used the project to power a whole ecosystem of products and services that have been unmitigated successes. Apple invested billions to build a self-driving car. Reports emerged about the secret effort, code-named Project Titan, in 2014, and the company has never publicly acknowledged its existence. That said, it told staff on Tuesday that many of them would be redeployed. There had been an wider internal debate ab...
China Expands Scope of ‘State Secrets’ Law in Security Push
Economy

China Expands Scope of ‘State Secrets’ Law in Security Push

Connected media - Associated media Ms. Choyleva said many companies will be trapped in a state of “paralysis” while they wait to see how China applies the new provisions in the law. It is the latest example of the country’s heightened vigilance of state security under the leadership of Xi Jinping. Over the last few years, China has progressively fortified its national security and data sharing laws, while warning about the risks of spying under the cloak of business. But the strengthening of China’s national security laws has rattled many foreign businesses and investors. Many of the changes exercise an unclear and expansive criteria of what would constitute a national security risk, raising the possibility that the rules could be applied arbitrarily. The crackdown has amplified the ...
Vermont’s Jay Peak Emerges From a Cloud of Financial Scandal
Economy

Vermont’s Jay Peak Emerges From a Cloud of Financial Scandal

Linked media - Linked media Settling into the first tram of the morning at Vermont’s Jay Peak resort last month, I looked down to see a young boy wearing a neon helmet pressed against the window, his father next to him, as excited as I was to ski the foot of fresh snow. The boy told me that he was 10 years old. I asked him why he liked coming to Jay Peak. “Because of the Jay Cloud,” he said matter-of-factly, as if it were obvious. “It has the best snow.” As if on cue, the world outside the aerial tram car suddenly went from blue to white. Sixty of us in the rising tram were in our own personal snow globe. The mystique of Jay Peak, the northernmost ski area in Vermont, is intimately bound to the Jay Cloud, a mythical storm cloud that hovers over its rocky summit. The resort, five mile...
How the Media Industry Keeps Losing the Future
Economy

How the Media Industry Keeps Losing the Future

Associated media - Associated media Cutbacks were just announced at Law360, The Intercept and the youth-oriented video site NowThis, which laid off half its staff. The tech news site Engadget, which comprehensively tracks tech layoffs, laid off its top editors and other staff members. Condé Nast and Time are shedding employees. The continued existence of Vice Media, once valued at $5.7 billion, and Sports Illustrated, in another era the most influential sports publication, is uncertain. The Los Angeles Times and The Washington Post eliminated hundreds of journalists between them. One out of four newspapers that existed in 2005 no longer does. The slow crash of newspapers and magazines would be of limited interest save for one thing: Traditional media had at its core the exalted and d...
F1 Teams Sauber and AlphaTauri Get New Names
Economy

F1 Teams Sauber and AlphaTauri Get New Names

Associated media - Related media The names of both teams have been criticized, with some fans taking to social media. “Stake F1 Team Kick Sauber might be the worst name for a team in F1 history,” a fan wrote on X, formerly known as Twitter. “When you try something new, and when you have a team name that is different from other team names, it’s always easy to be critical,” Alunni Bravi said. “Of course, there was criticism from those close to the Sauber name, and maybe they expected something different. “Maybe we went too extreme, but we wanted to do something new and attractive for our fan base. When Drake announced our name, we had 22 million impressions, a number we never achieved with a single post on our social media platforms. It was huge.” For Bayer, landing Visa was as big a c...