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UK draws up plans to restrict Chinese inward investment

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UK draws up plans to restrict Chinese inward investment

Tory MPs have urged Boris Johnson to accelerate new legislation designed to make it harder for overseas state-owned companies — for example from China — to take over struggling UK firms.

The move comes as government officials confirmed the prime minister was drawing up plans to force a full phase out of Chinese telecoms company Huawei from Britain’s 5G networks within three years, a policy U-turn that is the latest sign of chilling relations between London and Beijing.

The UK government has spent a decade courting inward investment from China. But with increasing concerns that Beijing did not disclose the initial scale of the coronavirus outbreak, foreign secretary Dominic Raab has announced an end to “business as usual” with Beijing.

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“MPs and the public want action on China,” said one cabinet minister. “Takeovers are something we have to act on.”

Theresa May drew up plans for greater scrutiny of overseas takeovers three years ago. They require companies to flag any transactions with potential security concerns — even if only an asset or a shareholding — to the Competition and Markets Authority.

Mr Johnson promised in his December Queen’s Speech to implement the proposals through a National Security Investment Bill. Last week he said action would take place “in the next few weeks” to deal with “the buying up of UK technology now by countries that . . . may have ulterior motives”.

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But the prime minister is under pressure to further strengthen the proposed measures and give a firm date for the legislation to be brought to the Commons.

Tom Tugendhat, chair of the foreign affairs select committee, warned that “time is running out” for Mr Johnson to push ahead with the new legislation given a looming spike in distressed sales.

News on Friday that Beijing plans to impose a national security law on Hong Kong has prompted further consternation in the UK.

“In a downturn, the difference between state-backed credit and the buying power of normal commercial investors will become starker, further strengthening the hand of state-owned enterprises,” Mr Tugendhat wrote in the FT.

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“If we’re not careful, much of the intellectual property we will need for our long-term innovation and prosperity could disappear to Shanghai or Shenzhen.”

Tory MP Neil O’Brien pointed out that countries including Japan, Italy and the US had tightened up their foreign takeover regimes in recent months “It’s a decision that everyone in the world is having . . . Covid-19 is just accelerating things,” he said. “We need to make a distinction between having an open economy and interactions with the Chinese state.”

The foreign affairs select committee last month opened an inquiry after UK tech group Imagination Technologies saw an attempt to wrest boardroom control by a private equity investor backed by Beijing.

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The prime minister’s change of heart on Huawei’s involvement in the 5G network comes after months of pressure from senior Tory MPs to ensure that UK’s telecoms networks do not contain equipment from the Chinese equipment maker beyond 2023 on national security grounds.

Mr Johnson in January granted Huawei a limited role in supplying kit for the UK’s 5G networks, confining its market share to 35 per cent. The rules also banned the use of the company’s equipment in the critical core of mobile networks, where data is stored and routed.

In March the government only narrowly defeated a Tory rebel amendment designed to completely ban Huawei from UK networks.

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Those rebel MPs had been gearing up to try to force a new anti-Huawei amendment into legislation this summer.

David Davis, the former Brexit secretary said the coronavirus crisis had changed the political climate. “The Huawei policy may have been arguable pre-corona but I don’t think it is any more. That may not be rational but the zeitgeist has changed.”

EE, Vodafone and Three use Huawei equipment in their 5G networks. Switching to a rival supplier such as Ericsson or Nokia would slow down their roll out and increase costs. BT has estimated that it would cost £500m to comply with the 35 per cent cap.

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Telecoms executives are frustrated that despite an 18-month review and the imposition of limits on Huawei equipment that the issue is still being debated by politicians. One said that a 2023 timeline was “too aggressive” for a full phase out, raising the issue of how such a switch out would be paid for.

Huawei declined to comment.

“There is a growing consensus over China, to want trade but to have no illusions,” said Bob Seely, a Tory MP. “We can want trade but we want fair trade, not intellectual property theft and espionage.”

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(Note: This is a Article Automatically Generated Through Syndication, Here is The Original Source

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Passionate news enthusiast with a flair for words. Our Editorial Team author brings you the latest updates, in-depth analysis, and engaging stories. Stay informed with their well-researched articles.

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Caterina Fake Net Worth 2024: How Much is the American entrepreneur and businesswoman Worth?

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Caterina Fake Net Worth 2024: How Much is the American entrepreneur and businesswoman Worth?

Who is Caterina Fake?

Caterina Fake is a renowned American entrepreneur and co-founder of several groundbreaking ventures, including Flickr and Hunch. Born on June 13, 1969, in Pittsburgh, Pennsylvania, Fake has been a driving force in reshaping the digital landscape through her innovative ideas and entrepreneurial acumen.

Caterina Fake Career

From her early days in Pittsburgh to her rise in Silicon Valley, Caterina Fake’s career has been marked by a relentless pursuit of excellence. Co-founding platforms like Flickr and Hunch, she has revolutionized how we connect and share information online. Her visionary leadership and creative brilliance have cemented her status as a trailblazer in the tech industry.

Caterina Fake Net Worth

As of 2024, according to TheRichest, Caterina Fake’s net worth stands at an impressive $25 million. Her entrepreneurial ventures, including Flickr and Hunch, have contributed significantly to her financial success. With a keen eye for emerging trends and a knack for innovation, Fake continues to inspire aspiring entrepreneurs around the world.

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Caterina Fake Age

Currently 54 years old, Caterina Fake was born on June 13, 1969. Despite her age, she remains a dynamic force in the business world, constantly pushing the boundaries of what’s possible in technology and entrepreneurship.

Caterina Fake Family: Husband and Children

Caterina Fake was previously married to Stewart Butterfield, with whom she co-founded Flickr. They tied the knot in 2001 but announced their split in 2007. They share one child, Mint Butterfield, who has recently been reported missing. Caterina Fake is currently in a relationship with Jaiku co-founder Jyri Engeström.

Caterina Fake Height and Weight

While specific details about Caterina Fake’s height and weight are not readily available, her stature in the tech industry is undeniable. Standing tall as a visionary leader and innovator, Fake’s impact transcends physical measurements, leaving an enduring legacy in the digital sphere.

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Also Read: Ethan Payne Net Worth 2024: How Much is the English YouTuber, Streamer, and Internet Personality Worth?

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Choosing the Right Shipping Label for Your Needs

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In the realm of e-commerce and product distribution, the importance of choosing the right shipping label cannot be overstated. A shipping label is not merely a piece of paper with an address; it serves as a vital communication tool between the sender, carrier, and recipient. From ensuring package security to complying with regulations, the right shipping label can streamline your shipping process and enhance customer satisfaction. However, with various options available, selecting the appropriate shipping label for your specific needs can be daunting. This comprehensive guide aims to navigate you through the maze of choices, empowering you to make informed decisions.

Understanding Shipping Label Basics

Before delving into the specifics, let’s start with the fundamentals. A shipping label typically contains crucial information such as the sender’s and recipient’s addresses, package weight, tracking number, and barcodes. It serves as a passport for your package, facilitating its journey from sender to receiver. Additionally, shipping labels often include information about the contents of the package, handling instructions, and compliance markings for hazardous materials.

Factors to Consider

When choosing the right shipping label, several factors come into play, including:

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  • Package Type: Different packages require different types of labels. Whether you’re shipping small parcels, envelopes, or large boxes, selecting the appropriate label size and format is crucial.
  • Shipping Method: Consider the shipping method you’ll be using. Labels for domestic shipments may differ from those for international deliveries. Moreover, carriers such as USPS, UPS, FedEx, and DHL may have specific label requirements.
  • Durability: If your package is exposed to harsh conditions or requires long-distance travel, opt for durable labels that can withstand moisture, abrasion, and other environmental factors.
  • Barcode Compatibility: Barcodes play a vital role in tracking and sorting packages. Ensure that your shipping label is compatible with the barcode systems used by your chosen carrier.
  • Regulatory Compliance: Depending on the nature of your shipment, you may need to adhere to regulatory standards and include specific markings or warnings on your shipping label. This is particularly important for hazardous materials, perishable goods, and international shipments.

Types of Shipping Labels

Now, let’s explore some common types of shipping labels and their features:

  • Integrated Labels: Integrated labels combine the shipping label with other essential documents, such as packing slips or invoices. This streamlined approach simplifies the packing process and reduces the risk of document misplacement.
  • Thermal Labels: Thermal labels utilize heat-sensitive paper to create high-quality, smudge-free prints. They are ideal for high-volume shipping operations and do not require ink or toner cartridges.
  • Peel-and-Stick Labels: Peel-and-stick labels feature a self-adhesive backing, allowing for quick and easy application to packages. They are available in various sizes and can be customized with branding elements or additional information.
  • Waterproof Labels: Waterproof labels are designed to withstand exposure to moisture, making them suitable for shipments that may encounter rain, snow, or humidity during transit.
  • Custom Labels: Custom labels offer a unique opportunity to enhance brand visibility and convey specific messages to recipients. They can be tailored to include logos, slogans, promotional offers, and special handling instructions.

Label Printing Options

Once you’ve selected the appropriate label type and size, you’ll need to decide how to print your labels. Common printing options include:

  • Direct Thermal Printing: Direct thermal printers use heat-sensitive paper to produce high-quality prints without the need for ink or toner. They are cost-effective and ideal for printing shipping label on demand.
  • Thermal Transfer Printing: Thermal transfer printers utilize a ribbon to transfer ink onto the label, resulting in durable, long-lasting prints. While slightly more expensive than direct thermal printing, thermal transfer printers are suitable for applications requiring enhanced durability and longevity.
  • Desktop Printers vs. Industrial Printers: Desktop printers are compact and affordable, making them suitable for small businesses and low-volume shipping operations. Industrial printers are designed for high-volume printing and offer advanced features such as faster printing speeds and larger label capacities.
  • Cloud-based Printing Solutions: Cloud-based printing solutions allow you to print shipping labels from any location with internet access. This is particularly beneficial for businesses with multiple shipping locations or remote employees.

Conclusion

Choosing the right shipping label is a critical step in ensuring the smooth and efficient delivery of your products. By considering factors such as package type, shipping method, durability, barcode compatibility, and regulatory compliance, you can select the label that best meets your needs. Whether you opt for integrated labels, thermal labels, peel-and-stick labels, waterproof labels, or custom labels, investing in the right shipping label solution will streamline your shipping process, enhance package security, and ultimately improve customer satisfaction.

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World

New Class-Action Lawsuit Accuses Rivian of Making Materially False and Misleading Statements

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New Class-Action Lawsuit Accuses Rivian of Making Materially False and Misleading Statements

Electric vehicle manufacturer Rivian has been slapped with a lawsuit which alleged that the company misled the investors with false claims regarding its business, operations and prospects.

The class-action lawsuit made a number of allegations which included overstating the demand of its Electric vehicles and also not making it clear how it will handle the negative and near-term macroeconomic impacts.

The lawsuit also revealed that Rivian’s business was experiencing reduced demands as well as increased customer cancellations precipitated by inter alia, high interest rates.

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The orders had significantly reduced and this has significantly reduced the profits and the manufacturing of vehicles in 2024.

Rivian Faces New Class-Action Lawsuit Alleging Deceptive Statements

The lawsuit also alleged that the Company’s public statements were materially false and misleading at all relevant times.

Rivian’s stock, like all other EV startups, has been tanking and this has angered the investors who saw a major portion of their investments eroded and a number of law firms like Bernstein Liebhard LLP announced this week that it has filed a securities class action lawsuit on investors’ behalf.

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The lawsuit stated that the EV manufacturer had violated the Securities Exchange Act of 1934 and has asked investors who had bought shares of Rivian Automotive, Inc. between March 1, 2023, and February 21, 2024, to join its suit.

The company’s stocks have fallen and one of the primary reasons was the high interest rates. Rivian’s products are beyond the reach of an average income household.

Also Read: Prime Hydration Faces Lawsuits Claiming Its Sports Drink, Prime Energy, Contains PFAS and Excessive Caffeine

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The Rivian’s Electric vehicles target customers were wealthier clients and the spurt in order cancellations means this class is walking away from Rivian’s product.

The stocks of the company were popular for the investors but the reduced demands caused by higher borrowing cost have hit its stock prices badly.

The price war has also affected the EV sector and the company also with its competitors like Tesla has been uniformly affected.

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The EV sector marked value has tanked by more than 57% year-to-date.

The chance of a fall in interest rates is not expected since the Federal Reserve will not lower the benchmark interest rate since it could lead to a bout of hyperinflation.

Also another factor which will discourage the Federal Reserve to lower interest rates is the soaring energy prices caused by the war in Ukraine and the Middle East.

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Also Read: Lawsuit Claims Kennywood Concealed Steel Curtain Closure to Boost Sales

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