Category: Business

Bangkok — Vietnamese automaker VinFast announced Tuesday that it plans to sell its electric vehicles in Thailand and said it had tied up with auto dealers to open showrooms in the country. VinFast, which only began exporting its EVs last year, faces stiff competition in Thailand from Chinese automakers like BYD. Tesla also recently entered the fray. All were displaying their latest models at the Bangkok International Motor Show. The Thai EV market is small but growing fast, buoyed by incentives and subsidies from the government. The country of more than 70 million plans to convert 30% of the 2.5 million vehicles it makes annually into EVs by 2030. VinFast hopes to start selling both its electric scooters and electric SUVs in the country in the next two months, Vu Dang Yen Hang, chief executive officer of VinFast Thailand, told The Associated Press. Details about pricing and buying the EVs are likely to be announced later this year. Thailand accounted for 58% of all EV sales in Southeast Asia in 2022, ahead of both Vietnam and Indonesia, according to market research firm Counterpoint Research. But the EV market remains small, accounting for only 0.5% of EV sales worldwide in 2022. Thailand is trying to change this with incentives to promote manufacturing and sales of EVs, such as reducing import duties and paying subsidies to make them more price competitive. VinFast has set a target of selling its cars in 50 markets worldwide by the end of 2024. Initially it’ll rely on …

washington — Earlier this month, the U.S. Department of Energy announced a record conditional loan of $2.26 billion to tap the largest known lithium reserves in North America. The loan is an important step in an effort by the U.S. government to reduce reliance on China for the metal used to make batteries. Analysts, however, say that it may be too late to move away from reliance on China completely when it comes to metal processing and the production of batteries. The DOE’s Loan Programs Office (LPO) says the funds, if approved after review, will help the Lithium Americas Corp. construct a lithium carbonate processing plant at the Thacker Pass mine project in Humboldt County, Nevada. The LPO says the project would help “secure reliable, sustainable domestic supply chains for critical materials, which are key to reaching our ambitious clean energy and climate goals and reducing our reliance on economic competitors like China.” Lithium Americas Corp. on its official website says battery materials could be “completely sourced and manufactured in the U.S., bringing down the overall carbon footprint, transport costs and supply chain risks.” The LPO says lithium carbonate from Thacker Pass could eventually support the production of batteries “for up to 800,000 electric vehicles (EVs) per year, saving 317 million gallons of gasoline per year.” Although the U.S. has made pioneering and groundbreaking contributions to the development of the lithium ion battery, industry experts say lithium processing and EV battery production is dominated today by China. “Parts of our key …

 Washington — Tim Cook, CEO of the American technology giant Apple, is facing criticism at home over laudatory remarks he made about China during a recent visit to try to boost sagging iPhone sales in the lucrative market.  Cook was in Shanghai for the opening of China’s largest Apple retail store on Friday and met with Chinese political and business people. He praised China for being “so vibrant and so dynamic,” in remarks widely quoted by state media and Foreign Ministry spokesperson Hua Chunying.    The new Apple store took seven years and cost over 80 million yuan (roughly $11.1 million) to build. It is said to be the second largest in the world and the largest in Asia, and it is staffed by about 150 people.  Thursday evening, at least 12 hours before the scheduled opening, a long line had formed in front of the store. Some media said the crowds were “as bustling as New Year’s Eve.”  In addition to showing their loyalty to the brand by purchasing Apple products, the opening day crowds rushed to take photos with Cook, who was in the store at the event. Dan Ives, a technology analyst on Wall Street, said on X, formerly Twitter, that Cook’s trip to China shows that Apple will continue to attach importance to the Chinese market. “Apple is actually increasing its investments and retail footprint in China the past year,” he said, “and to this point Cook has been in China since last week on an important …

Electric vehicles can lower pollution and save drivers money, but in Africa, uneven access to electricity is a significant barrier to their success. In Ghana, battery-swap technologies are offering a solution. Senanu Tord reports from Accra. …

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Not long ago, people wrote letters by hand. But like many things eclipsed by modern technology, handwritten letters are less common than they used to be. Now, that technology has started writing those letters. VOA’s Julie Taboh introduces us to handwriting robots in this week’s episode of LogOn. …

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TALLAHASSEE, Florida — Florida will have one of the country’s most restrictive social media bans for minors — if it withstands expected legal challenges — under a bill signed by Republican Florida Governor Ron DeSantis on Monday.  The bill will ban social media accounts for children under 14 and require parental permission for 15- and 16-year-olds. It was slightly watered down from a proposal DeSantis vetoed earlier this month, a week before the annual legislative session ended. The new law was Republican Speaker Paul Renner’s top legislative priority. It takes effect January 1.  “A child in their brain development doesn’t have the ability to know that they’re being sucked into these addictive technologies and to see the harm and step away from it, and because of that we have to step in for them,” Renner said at the bill-signing ceremony held at a Jacksonville school.  The bill DeSantis vetoed would have banned minors under 16 from popular social media platforms regardless of parental consent. But before the veto, he worked out compromise language with Renner to alleviate the governor’s concerns and the Legislature sent DeSantis a second bill.  Several states have considered similar legislation. In Arkansas, a federal judge blocked enforcement of a law in August that required parental consent for minors to create new social media accounts.  Supporters in Florida hope the bill will withstand legal challenges because it would ban social media formats based on addictive features such as notification alerts and auto-play videos, rather than on their content.  …

 Austin, Texas — U.S. Vice President Kamala Harris said the Biden administration has no intention to ban TikTok, the popular short video application from Chinese company ByteDance.  Harris told ABC’s “This Week” program on Sunday that a ban was “not at all the goal or the purpose of this conversation.”    The White House urged the Senate last week to swiftly advance a bill that would force ByteDance to sell TikTok over privacy and national security concerns within six months or face a ban.   U.S. officials and lawmakers worry that the Chinese government could access American consumers’ data on the platform, which could also be used to push a pro-Beijing agenda. ByteDance denies it would provide such private data to the Chinese government, despite reports indicating it could be at risk. The bill passed in the House on March 13 with overwhelming bipartisan support but has yet to advance in the Senate.   China has firmly opposed any forced sale of TikTok.    TikTok has urged its American users to call their representatives and tell them not to support the bill, leading to hundreds of phone calls to some senators, including a few death threats, according to The Associated Press.  Despite the security and privacy concerns, many Americans are still enthusiastic about the app.  An American social media influencer, who cannot reveal her real name due to her contract with a talent agency, has been on TikTok since 2021 and saw the popularity of her hairdressing videos explode to hundreds of thousands of views.  …

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WASHINGTON — The young voices in the messages left for North Carolina Senator Thom Tillis were laughing, but the words were ominous. “OK, listen, if you ban TikTok I will find you and shoot you,” one said, giggling and talking over other young voices in the background. “I’ll shoot you and find you and cut you into pieces.” Another threatened to kill Tillis, and then take their own life. Tillis’s office says it has received around 1,000 calls about TikTok since the House passed legislation this month that would ban the popular app if its China-based owner doesn’t sell its stake. TikTok has been urging its users — many of whom are young — to call their representatives, even providing an easy link to the phone numbers. “The government will take away the community that you and millions of other Americans love,” read one pop-up message from the company when users opened the app. Tillis, who supports the House bill, reported the call to the police. “What I hated about that was it demonstrates the enormous influence social media platforms have on young people,” he said in an interview. While more aggressive than most, TikTok’s extensive lobbying campaign is the latest attempt by the tech industry to head off any new legislation — and it’s a fight the industry usually wins. For years Congress has failed to act on bills that would protect users’ privacy, protect children from online threats, make companies more liable for their content and put loose guardrails …

United Nations — The U.N. General Assembly adopted by consensus Thursday a first-of-its-kind resolution addressing the potential of artificial intelligence to accelerate progress toward sustainable development, while emphasizing the need for safe, secure and trustworthy AI systems. The initiative, led by the United States, seeks to manage AI’s risks while utilizing its benefits. “Today as the U.N. and AI finally intersect, we have the opportunity and the responsibility to choose as one united global community to govern this technology rather than to let it govern us,” said U.S. Ambassador Linda Thomas-Greenfield. “So let us reaffirm that AI will be created and deployed through the lens of humanity and dignity, safety and security, human rights and fundamental freedoms.” The Biden administration said it took more than three months to negotiate what it characterized as a “baseline set of principles” around AI, engaging with 120 countries and incorporating feedback from many of them, including China, which was one of the 123 co-sponsors of the text. While General Assembly resolutions are not legally binding, they reflect the political consensus of the international community. The resolution recognizes the disparities in technological development between developed and developing countries and stresses the need to bridge the digital divide so everyone can equitably access the benefits of AI. It also outlines measures for responsible AI governance, including the development of regulatory frameworks, capacity building initiatives and support for research and innovation. The resolution encourages international collaboration to address the evolving challenges and opportunities AI technologies pose, with a …

NEW YORK — Reddit soared in its Wall Street debut as investors pushed the valued of the company close to $9 billion seconds after it began trading on the New York Stock Exchange. Reddit, which priced its IPO at $34 a share, debuted Thursday afternoon at $47 a share. The going price has climbed even higher since, with shares for the self-anointed “front page of the internet” soaring more than 55% as of around 1:20 p.m. ET. The IPO will test the quirky company’s ability to overcome a nearly 20-year history colored by uninterrupted losses, management turmoil and occasional user backlashes to build a sustainable business. “The supply is pretty limited and there’s strong demand, so my sense is that this is going to be a hot IPO,” Reena Aggarwal, director of Georgetown University’s Psaros Center for Financial Markets and Policy, said ahead of Reddit’s trading Thursday. “The good news for Reddit is it’s a hot market.” Still, she also anticipates Reddit’s IPO to be volatile. Even with a sizeable “pop,” it’s possible that some might sell their shares to reap their gains soon after, potentially causing prices to drift. The interest surrounding Reddit stems largely from a large audience that religiously visits the service to discuss a potpourri of subjects that range from silly memes to existential worries, as well as get recommendations from like-minded people. About 76 million users checked into one of Reddit’s roughly 100,000 communities in December, according to the regulatory disclosures required before the San Francisco …

Washington — The U.S. Department of Justice on Thursday sued Apple, the first major antitrust effort against the iPhone maker by the Biden administration, alleging it monopolized smartphone markets.   Apple joins a list of major tech companies sued by U.S. regulators, including Alphabet’s  Google, Meta Platforms and Amazon.com across the administrations of both former President Donald Trump and President Joe Biden. “Consumers should not have to pay higher prices because companies violate the antitrust laws,” Attorney General Merrick Garland said in a statement. “If left unchallenged, Apple will only continue to strengthen its smartphone monopoly.” The Justice Department alleges that Apple uses its market power to get more money from consumers, developers, content creators, artists, publishers, small businesses and merchants. The civil lawsuit accuses Apple of an illegal monopoly on smartphones maintained by imposing contractual restrictions on, and withholding critical access from, developers. Apple has already been subject to antitrust probes and orders in Europe, Japan and Korea, as well as lawsuits from corporate rivals such as Epic Games.   One of Apple’s most lucrative businesses – its App Store, which charges developers commissions of up to 30% – has already survived a lengthy legal challenge under U.S. law by Epic. While the lawsuit found that Apple did not violate antitrust laws, a federal judge ordered Apple to allow links and buttons to pay for apps without using Apple’s in-app payment commission. In Europe, Apple’s App Store business model has been dismantled by a new law called the Digital Markets …

New York — President Joe Biden’s administration announced Wednesday revised pollution standards for cars and trucks meant to accelerate the U.S. auto industry’s shift to electric to mitigate climate change. The rules set ambitious emission reductions for 2032 but are moderated somewhat compared with preliminary standards unveiled last April. Following carmaker criticism, the final rules give manufacturers greater flexibility and ease the benchmarks in the first three years. Those shifts were criticized as a sop to corporations from at least one environmental group, even as the final rule won praise from other leading NGOs focused on climate change. The final rules — which were described by administration official as “the strongest ever” and would likely be undone if Republican Donald Trump defeats Biden in November — still require a nearly 50% drop in fleet-wide emissions in 2032 compared with 2026 through increased sales of electric vehicles (EVs) and low-emission autos. The rules, which dovetail with other key Biden programs to build more EV charging stations and manufacturing facilities and incentivize EV sales, establish the environment as a significant point of difference in the 2024 presidential election. Trump has mocked climate change as a problem and cast the transition to EVs as a job-killer that will benefit China at the expense of American workers. Biden argues that U.S. auto builders need to take the lead in the expanding EV market. “I brought together American automakers. I brought together American autoworkers,” said Biden in a statement. “Together, we’ve made historic progress.” Alluding to …

Washington — The initial backlash came quickly. Within hours of last week’s vote in the House of Representatives approving legislation that could lead to a ban of the popular TikTok app in the United States, anger and outrage poured onto multiple social media platforms. Some of the anger targeted U.S. lawmakers who supported the bill. Some focused on China. And a number of social media accounts, some with large followings, put the blame on Israel and pro-Jewish groups in the United States. “A foreign government is influencing the 2024 election,” Briahna Joy Gray posted on X. “I’m not talking about China, but Israel,” added the former national press secretary for Senator Bernie Sanders’ 2020 presidential campaign.   Jake Shields, a former mixed martial arts fighter who has used social media in the past to share his views on transgender issues, blamed the Anti-Defamation League and the American Israel Public Affairs Committee, or AIPAC. “The ADL said Tiktok Is a threat to Israel,” Shields posted on X. “AIPAC the Israeli lobby gave Dan Crebsahaw [sic] millions of dollars Now Crenshaw fights to ban TikTok.” And journalist Glenn Greenwald said on X that the TikTok legislation gained momentum only after “Bipartisan DC became enraged so many Americans were allowed to criticize Israel” using the TikTok app.   Other posts and videos were quickly shared across other major platforms, including TikTok and Facebook. U.S. officials contacted by VOA said the rush by some social media users to blame Israel or Jewish groups was not …

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Washington — The Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico and Oregon.  President Joe Biden plans to talk up the investment on Wednesday as he visits Intel’s campus in Chandler, Arizona, which could be a decisive swing state in November’s election. He has often said that not enough voters know about his economic policies and suggested that more would support him if they did know.  Commerce Secretary Gina Raimondo said the deal reached through her department would put the United States in a position to produce 20% of the world’s most advanced chips by 2030, up from the current level of zero. The United States designs advanced chips, but its inability to make them domestically has emerged as a national security and economic risk.  “Failure is not an option — leading-edge chips are the core of our innovation system, especially when it comes to advances in artificial intelligence and our military systems,” Raimondo said on a call with reporters. “We can’t just design chips. We have to make them in America.” The funding announcement comes amid the heat of the 2024 presidential campaign. Biden has been telling voters that his policies have led to a resurgence in U.S. manufacturing and job growth. His message is a direct challenge to former President Donald Trump, the presumptive Republican nominee, who raised tariffs while in the White House and wants …

washington — The U.S. House of Representatives passed a bill March 13 that, if enacted into law, would give ByteDance, the Chinese owner of the TikTok social media app, 180 days to divest its U.S. assets or face a ban over concerns about national security, including Beijing’s ability to access Americans’ private information through the company ByteDance denies it would provide such private data to the Chinese government, despite reports indicating such information could be at risk. VOA sat down on the day the bill passed with Republican Representative Mario Diaz-Balart of Florida, chairman of the House Appropriations subcommittee on state, foreign operations and related programs, and co-chair of the Congressional Taiwan Caucus, to hear why he supported the bill and why he’s calling for faster military support for Taiwan, the self-ruled island that Beijing claims as a breakaway province that must one day reunite with the mainland, by force if necessary. This year marks the 45th anniversary of Congress’ enactment of the Taiwan Relations Act, which outlines nondiplomatic relations between Washington and Taipei in the wake of formal U.S. recognition of Beijing as the government of China. The act states that the U.S. must provide Taiwan with the means to defend itself. This interview has been edited for clarity and brevity. VOA: The House just passed a bill that would require ByteDance to divest TikTok. Did you support this bill? U.S. Representative Mario Diaz-Balart: I absolutely did. … It has strong bipartisan support. And there’s also been a lot of misinformation …

Washington — The US Supreme Court was hearing arguments on Monday in a social media case involving free speech rights and government efforts to curb misinformation online. The case stems from a lawsuit brought by the Republican attorneys general of Louisiana and Missouri, who allege that government officials went too far in their efforts to get platforms to combat vaccine and election misinformation. A lower court last year restricted some top officials and agencies of President Joe Biden’s administration from meeting and communicating with social media companies to moderate their content. The ruling was a win for conservative advocates who allege that the government pressured or colluded with platforms such as Facebook and Twitter to censor right-leaning content under the guise of fighting misinformation. The order applied to a slew of agencies such as the Federal Bureau of Investigation, the State Department and Justice Department as well as the Centers for Disease Control and Prevention. The decision restricted agencies and officials from meeting with social media companies or flagging posts containing “free speech” protected under the First Amendment to the Constitution. Louisiana Attorney General Jeff Landry hailed the “historic injunction” at the time, saying it would prevent the Biden administration from “censoring the core political speech of ordinary Americans” on social media. He accused federal officials of seeking to “dictate what Americans can and cannot say on Facebook, Twitter, YouTube, and other platforms about COVID-19, elections, criticism of the government, and more.” The order could seriously limit top government agencies from …

After the Apollo program ended, the US took a long hiatus from lunar exploration. What happened during this time, and what has NASA been doing? This documentary by the Voice of America’s Russian service explores the multiple attempts to return to the Moon, the space developments that laid the foundation for future concepts, and the birth of the Artemis lunar program. …

Washington — The U.S. Treasury Department unveiled sanctions against a network of companies and individuals for facilitating illegal technology transfers from dozens of U.S. firms to Iranian entities, including the country’s central bank.  The sanctions relate to Informatics Services Corporation (ISC), the technology arm of the Central Bank of Iran (CBI), the Treasury Department said in a statement Friday.   It also sanctioned a number of alleged ISC subsidiaries and front companies based in Turkey and the United Arab Emirates, and three individuals allegedly linked to them including Pouria Mirdamadi, a French-Iranian dual national.  Brian Nelson, the U.S. Treasury undersecretary for terrorism and financial intelligence, said the CBI “has played a critical role” in providing financial support to Lebanon’s Hezbollah and the foreign arm of Iran’s Islamic Revolutionary Guard Corps, known as the Quds Force.   “The United States will continue to use all available means to disrupt the Iranian regime’s illicit attempts to procure sensitive U.S. technology and critical inputs,” he said in a statement.   The Treasury’s move freezes any U.S. assets associated with the sanctioned individuals and entities, and generally prohibits Americans from doing business with them.  …

The White House is urging senators to quickly begin considering a bill that would address national security concerns related to the social media app TikTok. The House approved the measure earlier this week. VOA Congressional Correspondent Katherine Gypson reports. Camera: Saqib Ul Islam. …

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