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.
International Business
Articles
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.
IMF chief warns of ‘tough year’ for world economy
International Monetary Fund Managing Director Kristalina Georgieva said one third of the world is expected to be in recession in 2023.
Workers protest, beaten at virus-hit Chinese iPhone factory
Employees at the world’s biggest Apple iPhone factory were beaten and detained in protests over pay amid anti-virus controls, according to witnesses and videos on social media Wednesday, as tensions mount over Chinese efforts to combat a renewed rise in infections.
Apple says iPhone supplies hurt by anti-virus curbs in China
Apple Inc. is warning customers they’ll have to wait longer to get its latest iPhone models after anti-virus restrictions were imposed on a contractor’s factory in central China.
Holcomb to attend United Nations climate summit in Egypt
Gov. Eric Holcomb and other state officials plan to join global leaders next week at the United Nations Climate Change Conference in Egypt, marking the first time an Indiana governor has attended the summit.
World Trade Organization predicts trade growth to slow next year amid crises
The World Trade Organization is predicting global trade volumes will grow a lackluster 1% next year as challenges weigh on markets, including high energy prices, rising interest rates and uncertainties about Chinese manufacturing output amid the lingering COVID-19 pandemic.
Holcomb heads to Europe to discuss prospects in manufacturing, energy
The Indiana governor will lead a nine-person delegation to Germany and Switzerland next week. It will mark his 13th international trip for economic development opportunities.
U.S., Mexico to cooperate on semiconductors, electric vehicles
The countries seek to eat into Asia’s advantage in semiconductors and batteries needed for electric vehicles and promote North American production.
Dutch government ‘very concerned’ after soldier’s killing in Indianapolis
Defense Minister Kajsa Ollongren told reporters in Prague, where she met with her European Union counterparts, that the state of affairs in the Netherlands’ “most important ally” had become troubling.
China attacks U.S. chip handouts while warning of market slowdown
China lashed out at a $52 billion program to expand American chipmaking, saying the landmark blueprint contains elements that violate fair market principles and targets Beijing’s own efforts to build a semiconductor industry.
Even Amish furniture makers affected by international supply chain issues
Metal hardware has been in short supply the last couple of years, and one item in particular has bedeviled Amish craftsmen: drawer slides.
U.S.-China ties on precipice after Pelosi visit to Taiwan
House Speaker Nancy Pelosi’s visit to Taiwan, which has has enraged Beijing and Chinese nationalists, could further muddle Washington’s already complicated relationship with China as the two sides wrest with differences over trade, the war in Ukraine, human rights and more.
Cummins posts record quarterly revenue
The Columbus-based manufacturer says its strong second-quarter was due mostly to its North American market, where revenues grew 15%.