U.S. House passes bill that would lead to TikTok ban if Chinese owner doesn’t sell
By targeting TikTok, lawmakers are singling out a platform popular with millions of people, many of whom skew younger, just months before an election.
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Indiana to promote state’s EV industry in trade trip to South Korea
Part of the trip will involve showcasing the state’s growing electric vehicle industry at InterBattery 2024, South Korea’s leading battery exhibition, which is expected to draw about 75,000 attendees and 500 businesses.
Carmel ends membership with organization that sponsored China tour
However, the Hamilton County community will maintain its long-term sister-city relationship with a Chinese city.
Banks calls on Carmel to withdraw from Chinese sister-city agreement
The rebuke from U.S. Rep. Jim Banks came after a Washington Post report that former Carmel Mayor Jim Brainard had traveled to China before he left office last year. Banks warned that sister-city agreements can unduly influence U.S. cities to support problematic Chinese policies.
Tired of hostile Washington, China courts Indiana and Minnesota
Chinese officials are seizing on opportunities to forge ties with mayors and other local American leaders, the kinds of connections that give Beijing leverage against an increasingly hostile government in Washington.
Governor leading trade delegation to Canada
During the trip, the delegation will will meet with provincial officials, including Premier of Ontario Doug Ford as well as visit the Darlington Nuclear Generating Station.
Proposed rules aimed at curbing China could make it harder to get full EV tax credit
Plans outlined by the departments of Treasury and Energy would limit electric vehicle buyers from claiming the full tax credit if they purchase cars containing battery materials from China and other countries that are considered hostile to the United States.
Andretti Global clears first hurdle to join Formula One
Indianapolis-based Andretti Global and partner Cadillac must still prove their commercial value to F1 rights holder Liberty Media and the existing teams, which vehemently oppose expanding the 20-car grid.
China restrictions issued on companies getting chip funds
It’s the last regulatory hurdle before the Commerce Department hands out more than $100 billion worth of federal aid intended to boost domestic chipmaking while containing China’s technological advancement.
Holcomb to lead economic development trip to Japan
The trip will mark Gov. Eric Holcomb’s third visit to Japan and 16th international trip as Indiana governor.
Biden issues order restricting U.S. investments in Chinese technology
Senior administration officials said the effort stemmed from national security goals rather than economic interests, and that the categories it covered were intentionally narrow in scope.
IEDC opens South Korea office as East Asian nation expands presence in Indiana
The news comes less than a month after South Korea-based Samsung SDI chose Indiana for the location of a projected $3 billion electric vehicle battery cell plant.
IEDC planning second Global Economic Summit
Happy with the results from its first-ever Global Economic Summit in May 2022, the Indiana Economic Development Corp. has lined up dates for a second one.
Buttigieg says he’s wary of overdependence on China for EV materials
U.S. Transportation Secretary Pete Buttigieg said he didn’t want the U.S. to be in a situation in which it was dependent on any one country for the resources that are needed for electric vehicles.
Holcomb to make 15th international business-development trip
Indiana Gov. Eric Holcomb and Indiana Secretary of Commerce Brad Chambers plan make their third economic development trip to Europe in just over a year, his office announced Thursday.
SpectronRx teams with Belgian research center to make cancer therapies in Europe
The Indianapolis-based radiopharmaceutical company said it plans to help open a facility in Belgium to make therapeutic agents for cancer patients.
Meta fined record $1.3B, ordered to stop sending European user data to U.S.
The social media company that owns Facebook might have to carry out a costly and complex revamp of its operations if it’s ultimately forced to stop the transfers.
Partner in planned Indianapolis battery plant facing financial distress
In June, Slovakian startup InoBat announced it was partnering with New York City-based Ideanomics to build the research, development and manufacturing facility. But Ideanomics now says it’s not sure it will be in business in a year.
International Monetary Fund expects less than 3% global economic growth in 2023
International Monetary Fund chief Kristalina Georgieva said the period of slower economic activity will be prolonged, with the next five years of growth remaining around 3%
UPDATE: TikTok CEO grilled by skeptical lawmakers on safety, content
A nearly six-hour grilling of TikTok’s CEO by lawmakers brought the platform’s 150 million U.S. users no closer to an answer as to whether the app will be wiped from their devices.