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The EPA's ambitious plan to cut auto emissions to slow climate change runs into skepticism
The EPA's ambitious plan to cut auto emissions to slow climate change runs into skepticism
The U.S. government’s most ambitious plan ever to slash planet-warming greenhouse gas emissions from passenger vehicles faces skepticism about how realistic it is and whether it goes far enough
2023-08-06 22:26
Former Tory leader warns Vodafone and Three merger poses ‘dangerous’ security risk
Former Tory leader warns Vodafone and Three merger poses ‘dangerous’ security risk
Former Tory leader Sir Iain Duncan Smith has warned the merger between Vodafone and Three is “dangerous” and risks giving a company with its roots in Communist Party-ruled China a more prominent place in the UK’s mobile network. The former work and pensions secretary and MP for Chingford and Woodford Green said the proposed deal raised serious questions about national security and competition within the UK telecommunications market. Vodafone and Three, both of which have millions of customers in the UK and Ireland, announced earlier this month that they were joining forces in a multibillion-pound deal they said would create one of Europe’s biggest 5G networks. “This is a dangerous deal, which it seems is yet another example of how the Communist Party is trying to create a Western dependency on China,” Sir Iain told The Independent. “Not only does it raise important questions about competition, but it poses risks to our communication networks and personal data.” Three is owned by CK Hutchison, a Hong Kong-listed conglomerate that has been accused of supporting repression in the former British territory, where thousands of residents fled after China’s implementation of a sweeping national security law used by authorities to crack down on dissent against the regime in Beijing. Sir Iain is among a number of cross-party MPs to raise concerns about the growing influence of China in the West, and in particular, telecoms companies who have their headquarters there and are operating in the UK. “The government still doesn’t seem to understand that Chinese companies can be mandated to hand over their data to Beijing at the drop of a hat,” Sir Iain said. “We should be really worried about that. I also think we need to be taking a closer look at who owns these companies, the links between them and the Chinese government and the origins of the money flowing through them.” Last autumn the government announced that Shenzen-based Huawei technology must be removed from the UK’s 5G public networks by the end of 2027, It followed advice from the National Cyber Security Centre and pressure from Washington, which banned equipment made by the company because it posed an “unacceptable risk” to US national security. In March, prime minister Rishi Sunak warned that China plans to “reshape the world” in plans that posed an era-defining challenge for the UK and its allies in the West but dismissed calls for Beijing to be categorised as a threat, something his predecessor Liz Truss pushed for. The union Unite, which has 1.4 million members, is also campaigning against the merger, which some analysts say could result in job losses and higher prices for consumers who are already being squeezed by the cost of living crisis. The deal has triggered an initial investigation by the Competition and Markets Authority and will be subject to approval under the new National Security and Investment Act. Gail Cartmail, Unite’s executive head of operations, said: “Instead of idly watching the CK Group cream profits from UK businesses, the government should ask if they are a suitable custodian of British assets.” Charlotte Nichols, the Labour MP for Wigan North who sits on the Department for Business and Trade sub-committee on national security, said: “Unite the Union has shared research with me that shows this merger would leave sensitive government contracts and the data of millions of UK consumers in the hands of Three, a company whose key leadership have supported repression in Hong Kong and worked hand-in-hand with the Chinese state for decades. “This will be dangerous deal for the UK and I fully support Unite’s campaign against it.” Other MPs – both Labour and Conservative – have tabled questions to government departments asking what security assessments ministers have made of the proposed merger deal. Both Three and Vodafone refused to comment but have previously dismissed concerns about security, saying that they work closely with security bureaus in what is a regulated industry. The Cabinet Office has said it welcomes foreign trade and investment “where it supports growth and jobs in the UK, meets our stringent legal and regulatory requirements, and does not compromise our national security. “However, we will not hesitate to use our powers to protect national security where we identify concerns.” Read More Vodafone and Three to merge in multibillion-pound deal Vodafone and Three merger: What the huge deal actually means for you Cleverly defends China visit plans and pledges to use UK’s global ‘influence’ Three and Vodafone are merging. Here’s what that means for your phone No one wants to take responsibility for No 10 ‘groper’ complaints, warns accuser Top Tories urge Rishi Sunak to use cabinet reshuffle to get a grip on warring party
2023-07-02 15:17
Thailand’s Spending Plans Get a Lift as Global Bond Funds Return
Thailand’s Spending Plans Get a Lift as Global Bond Funds Return
Foreign investors are returning to Thailand’s bonds after a rout drove yields to the highest in nine years.
2023-10-19 14:46
Factbox-Japan ramps up efforts to strengthen its chip industry
Factbox-Japan ramps up efforts to strengthen its chip industry
TOKYO Semiconductor materials maker JSR Corp's board will meet on Monday to discuss a potential multi-billion dollar buyout
2023-06-26 16:50
Stock Market’s Gains Hinge on Timing of Fed’s ‘Pause’ or ‘Skip’
Stock Market’s Gains Hinge on Timing of Fed’s ‘Pause’ or ‘Skip’
The Federal Reserve’s decision to stop its interest-rate hikes, at least temporarily, is a break for consumers who’ve
2023-06-18 20:15
Nigeria Aims to Emulate OECD Nations in Tax Revenue Collection
Nigeria Aims to Emulate OECD Nations in Tax Revenue Collection
The Nigerian government’s efforts to boost revenue will help reduce its loan-service ratio by almost a half in
2023-10-25 01:23
Analysis-Elon Musk and Tesla loom over Detroit's auto labor talks
Analysis-Elon Musk and Tesla loom over Detroit's auto labor talks
By Joseph White and Ben Klayman DETROIT Detroit's automakers and the United Auto Workers will not be alone
2023-07-21 04:53
Lowe's tops quarterly sales, profit estimates on small project boost
Lowe's tops quarterly sales, profit estimates on small project boost
Lowe's Cos posted a smaller-than-expected drop in quarterly comparable sales and topped estimates for profit on Tuesday, helped
2023-08-22 18:24
Stocks retreat as weak growth concerns weigh
Stocks retreat as weak growth concerns weigh
Major stock markets mostly retreated and the dollar advanced Tuesday as concerns about weak growth offset hopes of an end...
2023-11-07 19:53
Renault CEO says free float of future electric unit will be less than 10%
Renault CEO says free float of future electric unit will be less than 10%
PARIS A sizeable chunk of Renault's planned electric vehicle spinoff could remain in free float on the stock
2023-06-27 15:29
Quantum-Si Appoints Biotech Executive and Entrepreneur, Amir Jafri, to its Board of Directors
Quantum-Si Appoints Biotech Executive and Entrepreneur, Amir Jafri, to its Board of Directors
BRANFORD, Conn.--(BUSINESS WIRE)--Sep 21, 2023--
2023-09-21 20:22
US antitrust body to appeal court ruling on Microsoft's Activision deal
US antitrust body to appeal court ruling on Microsoft's Activision deal
WASHINGTON The U.S. Federal Trade Commission said in a court filing on Wednesday that it would appeal a
2023-07-13 07:45