Australia says trade pact would benefit EU in Indo-Pacific amid submarine deal fallout
CANBERRA (Reuters) – An Australian-EU trade deal would be mutually beneficial and allow EU members a greater presence in the Indo-Pacific, said Australia’s trade minister, as Canberra tries to repair ties with Paris after the scrapping of a $40 billion submarine deal. The cancellation has angered France, which accused both Australia and the United States of stabbing it in the back, and it recalled its ambassadors from both Canberra and Washington. In solidarity with France, EU lawmakers have publicly questioned whether a trade deal with Australia could be possible. Australia’s Minister for Trade Dan Tehan on Wednesday urged the EU to progress ahead with a trade deal. Morrison is in the United States to attend the quadrilateral security dialogue, made up of India, Japan, the United States and Australia – which convenes later this week.
Source:MetroXpress
September 22, 2021 04:41 UTC
China’s high-tech push seeks to reassert global factory dominance
The robot’s Tianjin-based maker has received tax breaks and government-guaranteed loans to build products that modernise China’s vast factory sector and advance its technological expertise. The share of strategic industries in Tianjin’s factory output will also rise to 40%, Yin said, from 26.1% last year. Additionally, the trade war with the United States and Washington’s tech curbs exposed China’s lack of high-tech know-how, hardening Beijing’s resolve to speed up innovation. The central bank has channelled more credit into manufacturing, especially high-tech firms, at the expense of the property sector, which faces fresh curbs against speculative investment. Ringpu channels 8-12% of its revenues into R&D and will spend 1.3 billion yuan between 2020 and 2023 to upgrade automation and production.
Source:MetroXpress
September 22, 2021 01:07 UTC
Evergrande domestic debt deal calms immediate contagion concern
Evergrande, Asia’s biggest junk bond issuer, is so entangled with China’s broader economy that its fate has kept global stock and bond markets on tenterhooks as late debt payments could trigger so-called cross-defaults. Many financial institutions have exposure to Evergrande through direct loans and indirect holdings, while any defaults will also trigger sell-offs in the high-yield credit market. Evergrande did not immediately respond to questions about its deal or its intentions. Evergrande, which epitomised the borrow-to-build business model and was once China’s top-selling developer, also has a $47.5 million dollar-bond interest payment due next week. Only some $20 billion of $305 billion outstanding debts is owed offshore, according to Refinitiv data.
Source:MetroXpress
September 21, 2021 23:03 UTC
Detroit now has a ‘Ben’s Friends’ chapter, a support group for restaurant industry workers seeking help with addiction
click to enlarge Courtesy of Ben's FriendsSteve Palmer, left, and Mickey Bakst, a metro Detroit native, co-founded Ben's Friends, a national support group for restaurant industry workers. Still, the two say it’s important for a support group that recognizes the unique struggles of people in the industry. While Barrera and Colombo both support Alcoholics Anonymous meetings, they say there are some differences between AA and Ben’s Friends. Group discussions in Ben’s Friends tend to not center around God or AA’s 12 Steps program. More information on Ben’s Friends, including information about national virtual meetings, is available at bensfriendshope.com.
Source:MetroXpress
September 21, 2021 21:33 UTC
Michigan could be home to first wireless charging road for electric vehicles in the U.S.
click to enlarge Courtesy of the Office of Governor Gretchen Whitmer. Whitmer announced plans for wireless EV charging road on Tuesday. "This project reinforces my commitment to accelerating the deployment of electric vehicle infrastructure in Michigan and will create new opportunities for businesses and high-tech jobs amidst the transition to electric vehicles. President Joe Biden has pledged to build 500,000 new EV charging plugs/ports by 2030, but experts say that might be a challenge as, by that time, a projected 35 million additional EVs could be on the road by then.As for how much Michigan's Inductive Vehicle Charging Pilot intuitive will cost? That's, yet, another uncertainty, but the Michigan Department of Transportation hope to issue a formal request for proposal on Sep. 28 in an effort to secure a partnership for funding, evaluations, testing, and, eventually, implementation of the wireless charging roadway.
Source:MetroXpress
September 21, 2021 21:00 UTC
2021 MCAS results show a slide in scores after pandemic disrupts learning
The Massachusetts Comprehensive Assessment System results revealed just how much Framingham students scores dropped. English language arts scores fell by 6% for third through eighth grade, and science, technology, and engineering scores fell by 2% for third through eighth grade from 2019 to 2021. Framingham 10th graders saw a 7% drop in math scores, and a 6% increase in ELA scores between 2019 to 2021. Throughout the state, ELA scores dropped 6%, math was down by 16%, and STE scores fell 6% for third through eighth grade. For 10th graders, the state saw a 3% increase in ELA scores, but a 7% drop in math scores.
Source:MetroXpress
September 21, 2021 19:18 UTC
Gay Chicago firefighter alleges supervisor used anti-gay slurs, propositioned him for sex
James Mundo, a gay man, was hired by the Chicago Fire Department as a firefighter in August 2006. At the labor relations division, Mundo worked under supervisor Janice Hogan, a heterosexual woman. But he claims Hogan expected all male employees to conform to her vision of a heterosexual, masculine firefighter. As a result, Hogan subjected Mundo to dozens of acts of sexual harassment and discrimination. But the court did allow Mundo’s equal protection and sex discrimination counts to go forward and Mundo’s overall lawsuit to continue.
Source:MetroXpress
September 21, 2021 19:18 UTC
His market was about community. Southborough's Willie Mauro dies at 85
SOUTHBOROUGH — As a young man, Steve Mauro could not understand a word that his father, William Mauro, and two uncles, Callie and John, were saying as they mumbled between sips of drinks in the back room of William Mauro’s store. William Mauro died last Tuesday after a period of declining health. Mauro’s daughter, Cheryl Mauro, looks back at the storm and thinks about trudging through snow to help at the store. “Well, we really did!”For Cheryl, working at the store remains a time of feeling part of the town in which she lived. At that point in the market’s history, she remembers William Mauro’s brothers not only bringing help to their sibling’s business, but also a cheerful environment.
Source:MetroXpress
September 21, 2021 18:56 UTC
Fantastic Five high school players from September 20
Emma Ballard, Blackstone Valley Tech:This senior scored a hat-trick as Blackstone Valley Tech girls soccer defeated Monty Tech, 5-1. Cathryn Leighton, Hopkinton:This senior setter recorded 32 assists, eight kills, one block and seven digs as Hopkinton volleyball defeated Westwood in four sets. BLACKSTONE VALLEY TECH 3, WHITINSVILLE CHRISTIAN 0: Senior captain outside hitter Katherine Rogers recorded three aces and five kills as Blackstone Valley Tech (4-1) swept Whitinsville Christian. Boys SoccerBLACKSTONE VALLEY TECH 2, MONTY TECH 2: Brennan Jones scored two goals as Blackstone Valley Tech played to a draw. BLACKSTONE VALLEY TECH 1, NORTH BROOKFIELD 0: Katie Hearn scored the game’s only goal as Blackstone Valley Tech shut out North Brookfield.
Source:MetroXpress
September 21, 2021 18:56 UTC
Union Assembly will open Wednesday at Little Caesars HQ
click to enlarge Courtesy of Union AssemblyUnion Assembly's restaurant at the Little Caesars Headquarters. Nestled between the Fox Theatre and The Fillmore on the ground floor of the Little Caesars headquarters, Union Assembly is slated to open for dinner beginning this Wednesday. The two-story restaurant offers up clear views of Woodward Avenue and Comerica Park with a seating capacity of 500. Operated by Union Joints, the group responsible for Vinsetta Garage (Royal Oak), Union Woodshop (Clarkston), and Gran Castor (Troy), Union Assembly will be the first restaurant completely designed from scratch for the group; the others were all building takeovers. Union Assembly is located at 2131 Woodward Ave., Detroit.
Source:MetroXpress
September 21, 2021 18:33 UTC
$350,000 in fentanyl, heroin and cocaine seized in multi-agency drug bust
FRAMINGHAM — A six-month multi-agency drug investigation led to the arrest of two men on Monday, including one who authorities allege had been supplying drugs to dealers in MetroWest for more than a decade. In all, authorities seized more than 2 kilograms (4.4 pounds) of fentanyl and heroin; more than half a kilogram (1.1 pounds) of cocaine; and 100 fully-mature marijuana plants from an indoor grow operation, authorities said. Framingham police spokeswoman Rachel Mickens did not know which drugs were seized in each community. They were not arrested in Framingham, but charges will be taken out locally to charge the two men with conspiracy and trafficking in heroin and fentanyl. The men have already been charged in other jurisdictions with trafficking in heroin, fentanyl and cocaine.
Source:MetroXpress
September 21, 2021 17:48 UTC
U.S. House approves bill to suspend debt limit, fund government
That would have the effect of letting Republicans avoid voting for a debt limit increase ahead of next year’s congressional elections. After the House vote, McConnell and fellow Republican Senator Richard Shelby said they had introduced a bill to fund current government operations through Dec. 3, but without raising the debt limit. Democrats have resisted doing that so far, saying the vote to raise the debt limit should be a bipartisan one. The Treasury Department will some time in October exhaust its borrowing authority unless the debt limit is raised. Republicans said they would support a temporary spending bill to avert a shutdown if the debt limit extension were stripped out of the bill.
Source:MetroXpress
September 21, 2021 17:16 UTC
BlackRock, HSBC among largest buyers of Evergrande debt: Morningstar
NEW YORK (Reuters) – Fund giant BlackRock and investment banks HSBC and UBS were among the largest buyers of the debt of embattled Chinese real estate developer Evergrande Inc, Morningstar data shows. BlackRock added 31.3 million notes of Evergrande’s debt between January and August 2021, pushing its stake in the company to 1% of the assets in its $1.7 billion Asian High Yield Bond Fund, according to Morningstar. HSBC increased its positions in the company by 40% through July, according to Morningstar. UBS increased its position by 25% through May, the latest date available in the fund tracker’s database. At the same time, other large fund firms such as Fidelity, Pimco, and Allianz cut their positions in the company by up to 47% between January and July, Morningstar said.
Source:MetroXpress
September 21, 2021 16:52 UTC
German Social Democrats’ lead narrows days before election
BERLIN/STRALSUND, Germany (Reuters) – Germany’s Social Democrats (SPD) saw their lead over Chancellor Angela Merkel’s conservatives narrow in a poll published on Tuesday, pointing to a tightening race just five days before a federal election. Support for the conservative CDU/CSU alliance, whose chancellor candidate is Armin Laschet, edged up one percentage point to 22%. The other parties were all unchanged, with the Greens on 17%, the business-friendly Free Democrats (FDP) at 11%, the far-right AfD at 11% and the anti-capitalist Left party at 6%. At a campaign rally in the northern town of Stralsund, part of her constituency, Merkel implored voters to back her party. The SPD’s Scholz is German voters’ most popular choice by far to succeed her as chancellor.
Source:MetroXpress
September 21, 2021 11:15 UTC
UK manufacturing orders gauge hits record high in September: CBI
LONDON (Reuters) – A record share of British manufacturers reported rising new orders this month but global supply chain problems and labour shortages held back growth in output, a survey showed on Tuesday. The Confederation of British Industry’s monthly manufacturing order book balance rose to +22 in September from +18 in August, its highest level since records started in 1977. Still, the picture was weaker for export orders – which grew at their fastest since March 2019 – and the survey’s gauge of output growth fell to its lowest level since April. “Today’s survey highlights how amidst a variety of supply challenges, companies are beginning to struggle to meet high demand,” CBI deputy chief economist Anna Leach said. The record prices have strained the British energy sector, destroying the business model of smaller energy traders and sending shockwaves through the chemical and fertiliser markets, leading to a shortage of carbon dioxide used in food processing.
Source:MetroXpress
September 21, 2021 09:56 UTC