Economy

Related media - Connected media The Treasury Department has already proposed rules meant to limit China’s ability to supply materials for cars and trucks that qualify for a $7,500 electric vehicle tax credit included in Mr. Biden’s signature climate bill. The Commerce Department investigation announced on Thursday grew from a series of conversations that administration officials had with automakers last fall, after the settlement of a United Automobile Workers strike during which Mr. Biden stood with the union and joined a picket line. The carmakers told administration officials about the restrictions they faced selling in China, including on software. Biden…

Connected media - Connected media More than 50 Chinese property developers have defaulted on debts since 2021. They have refused to repay overseas creditors while still making arrangements with Chinese banks for possible eventual repayment. Many of these developers have shares listed on the Hong Kong stock market or have borrowed there, or both. But creditors face formidable obstacles in seeking to recover loans from Chinese real estate developers through petitions to the court system in Hong Kong, said Zerlina Zeng, the head of East Asia corporate credits at CreditSights, a global credit research firm. Most of the assets of…

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…

Associated media - Linked 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…

Linked media - Related 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…