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Bloomberg Zygmunt Solorz, a media-shy Polish billionaire who owns lignite-fired power plants and a TV network, just spoke out on an unexpected subject: ecology. Solorz, who made his $2.5 billion fortune on mobile phones and television, plans to set up an association called Clean Poland Program that will encourage Poles to care more about clean air. The European Union’s largest ...

Bloomberg The US National Highway Traffic Administration sent Tesla Inc.’s Elon Musk a cease-and-desist letter last year regarding Model 3 safety claims and subpoenaed the carmaker for information on several crashes, according to documents posted by a nonprofit advocacy group. NHTSA lawyers took issue with an October 7 Tesla blog post that said the Model 3 had achieved the lowest ...

Bloomberg The escalating trade war between the US and China is nudging the world economy towards its first recession in a decade with investors demanding politicians and central bankers act fast to change course. In the US alone, the recession risk is “much higher than it needs to be and much higher than it was two months ago,” Lawrence Summers, ...

Bloomberg Add $4.4 billion in imported cabinets to the long list of Chinese goods slapped with US levies in the escalating trade dispute between Washington and Beijing. The Commerce Department said it will ask the US Customs and Border Protection to collect cash deposits from importers of the wooden cabinets and vanities from China based on subsidy rates of as ...

Bloomberg German industrial production registered its biggest annual decline in almost a decade, highlighting the severity of the trade-inflicted manufacturing slump in Europe’s largest economy. Output was down 5.2% in June from the previous year, the most since late 2009, when the country was recovering from the Great Recession that followed the global financial crisis. The numbers are the latest ...

Bloomberg Kim Jong-un said North Korea’s latest missile tests were intended as a warning against ongoing US-South Korea military exercises, while President Donald Trump’s new defense chief defended the training as necessary to maintain readiness. North Korean state media said that Kim personally oversaw what allied military officials said was a pair of short-range ballistic missile launches a day earlier ...

Bloomberg China’s top agencies in charge of Hong Kong affairs held a special meeting across the border in Shenzhen to discuss unrest in the financial hub that’s become a wider challenge to Beijing and raised questions about whether it should intervene more directly. The seminar was jointly held by the Hong Kong and Macau Affairs Office of the State Council ...

Bloomberg The Taiwanese coast guard intervened to end an hour-long standoff between a freighter and an unidentified Chinese warship after the two vessels collided in the contested Taiwan Strait. The Taiwanese-registered bulk carrier Yutai No. 1 collided with a Chinese naval vessel around 20 nautical miles southeast of Taiwan-controlled Kinmen Island late on July 31, Fu Shih-hour, the cargo ship’s ...

Bloomberg Malaysian civil society groups are urging PM Mahathir Mohamad to set a date for when he will hand over power to former rival Anwar Ibrahim. And they want it to be between a year from now to May 2021. The groups include Bersih, or Coalition for Clean and Fair Elections, which was behind one of the country’s biggest protests ...

Bloomberg President Donald Trump has encouraged white supremacy to come out of the shadows, Democratic presidential front-runner Joe Biden was expected to say, adding that there’s very little that distances Trump’s rhetoric from the anti-immigrant screeds of mass shooters like the suspect in the recent El Paso, Texas, attack. “How far is it from Trump’s saying this ‘is an invasion’ ...