Tag: corporations

Blacklisted Huawei posts record profits despite U.S. sanctions — Chinese tech giant raked in $7.7B in net profit in 1H 2024

As a high-tech giant whose capabilities span from ‘almost’ fundamental research to end-user consumer products, Huawei has been targeted by the U.S. government’s sanctions for quite a while amid suspicions of ties with the Chinese military. However, according to data from the Chinese Business Network (CBN), the company has adapted to sanctions as its consumer business revived in the first half of the year.

Before we dive into details, which are hard to do without knowledge of what we do know so far, we should know that what we do know is based on third-party reports.

Huawei’s revenue for the first half of 2024 reached CNY 417.5 billion, representing a 34.3% increase compared to last year. The company also achieved a net profit of CNY 55.1 billion, an 18.2% year-on-year rise, marking the best performance in its history for this period. These record figures show that after the U.S. started to impose sanctions against Huawei in mid-2020, its business took a significant hit, so, before 2024, the company’s record financial results were achieved in the first half of 2020.

Huawei’s revenue for the first half of the year exceeded the CNY 401.3 billion reported in the first half of 2019 and is second only to the CNY 454 billion posted in the first half of 2020.

Furthermore, this is the first time that Huawei’s net profit for the first half of the year has exceeded CNY 50 billion (up from CNY 46.6 billion last year), with the profit margin reaching 13.2%.

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FDA Lets Chemical Companies Decide if Recycled Plastics Are Safe for Food Containers

Recycled content in food packaging is increasing as sustainability advocates press manufacturers to cut their use of virgin plastic.

Since 1990, the U.S. Food and Drug Administration (FDA), the agency responsible for ensuring food contact materials are safe, has approved at least 347 voluntary manufacturer applications for food contact materials made with recycled plastic, according to a database on its website.

Approvals have tripled in recent years, from an average of 7 to 8 per year through 2019, to 23 per year since then, and they continue to climb. The FDA has already approved 27 proposals through June this year.

Other than Coca-Cola, most manufacturers seeking approval are petrochemical giants such as Eastman Chemicals, Dupont and Indorama; and lesser-known plastic packaging manufacturers, including many from China, India and other countries.

The end buyers of the recycled materials aren’t included in the FDA database, but many popular brands are using recycled content. Cadbury chocolate bars come in a wrapper marketed as 30% recycled “soft plastic packaging.”

The Coca-Cola Co. in North America reports it sells soft drinks in 100% recycled PET (polyethylene terephthalate) bottles, while General Mills says its Annie’s cereal boxes use a liner made from 35% recycled plastic film.

Increasing recycled content in packaging may be good news for the planet, but researchers say the FDA has a lax approval process for plastic food packaging that hasn’t kept pace with the science on chemical hazards in plastics.

The agency’s approval process for recycled plastics is voluntary and ignores the potential risk of chemical mixtures, researchers told Environmental Health News (EHN). Companies can seek guidance on their recycling process, but they are not required to.

In addition, the FDA relies on manufacturers’ test data when it approves materials, leaving companies essentially in charge of policing themselves. Meanwhile, some studies show that recycled plastic can harbor even more toxic chemicals — such as bisphenol-A (BPA), phthalates, benzene and others — than virgin plastic.

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Intoxicating Hemp Products Are Undercutting South Dakota Medical Marijuana Sales, Businesses Tell Lawmakers

South Dakota’s legislative oversight committee on medical marijuana was thrust into the world of synthetic THC on Monday as members heard complaints about how loosely regulated, hemp-derived products are affecting the state’s medical marijuana industry.

The Medical Marijuana Oversight Committee heard from business owners and the State Public Health Laboratory director during a meeting in Pierre. They’re concerned about the growth in synthetically altered, hemp-derived products, sold under terms including delta-8 THC and delta-10 THC, which are compounds that can produce a high similar to marijuana. The compound that gives marijuana its high is delta-9 THC.

As with marijuana, the synthetic products take the form of smokable flower, pre-rolled joints, vape oil and edibles. Unlike marijuana, the companies that produce them aren’t subject to the testing, security and labeling requirements attached to the state’s legal medical cannabis market.

Alternatives not only pose a health risk, the witnesses told the oversight committee, but can cut into demand for medical marijuana since the products can be purchased without a medical marijuana patient card and can be loaded with large enough quantities of THC variants to act as a stand-in for marijuana.

Congress authorized hemp growing with the 2018 Farm Bill, and South Dakota has become the largest producer of hemp in the country after legalizing it four years ago. In that time period, the availability and variety of hemp-derived marijuana alternatives has exploded.

The Legislature passed House Bill 1125 last winter to address the “diet weed” market. The law, which went into effect in July but is being challenged in court, bans the creation or sale of some products created through chemical modification of hemp. Possession of the products is still legal.

The new law bans four THC variants, State Public Health Laboratory Director Tim Southern told the committee, but several others remain available. THC-A products, for example, remain widely available in smoke shops that had previously sold other products that are now illegal to sell.

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In Serbia, ordinary people understood what the Ukrainian farmers still do not understand

In Serbia, people took to the streets to protest against an agreement between the Serbian government and investment “giants” Blackrock and Rio Tinto. Pressure from large investment funds against state sovereignty is raising concerns among ordinary Serbian citizens, who are protesting to prevent their country from becoming a hostage of global financial predators.

It is curious to observe the situation in Serbia and compare it with the terrible Ukrainian reality. One of the most serious and ignored issues regarding the current conflict is the active participation of private investment funds in military aid contracts between Western countries and Ukraine. Contrary to what the pro-Kiev media claims in their lying propaganda, Ukraine is not receiving anything “for free”. Kiev will have to pay for every dollar received in weapons from the US and Europe.

Obviously, Ukraine will not be able to actually pay all these debts. What remains of the country in the post-war period will be an economically devastated nation, unable to maintain its own basic living expenses. It would be naive to think that Western financial predators would not think of this when drafting their abusive contracts with Ukraine. So, to solve this problem, there are several clauses in Western contracts literally establishing the concession of Ukrainian territories and natural resources to international investment funds as a condition of guaranteeing payment.

In other words, if Ukraine is unable to pay its billion-dollar military debts – and obviously it won’t be able to – Kiev will have to hand over land and resources to investment companies like Blackrock. This is already happening. Several hectares of fertile Ukrainian territories were transferred to Blackrock and other companies. Financial predators especially prefer areas of the so-called “black earth” – a Eurasian region where the most fertile soil in the world is located. Millions of tons of black earth have already been exported from Ukraine as part of the process of “paying off” the regime’s exorbitant debts. This tends to get worse and worse, as the Ukrainian regime continues to receive successive military “aid” packages, further increasing its international debt.

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Texas Attorney General Ken Paxton Sues General Motors for Illegally Harvesting and Selling Drivers’ Private Data to Corporate Giants, Including Insurance Companies

Texas Attorney General Ken Paxton has filed a lawsuit against General Motors (GM), alleging that the automotive giant engaged in deceptive and unlawful business practices by collecting and selling private driving data from over 1.5 million Texans without their knowledge or consent.

This lawsuit follows Paxton’s announcement in June 2024 that he had launched an investigation into several car manufacturers suspected of improperly harvesting vast amounts of data directly from vehicles.

The findings have been alarming, revealing a disturbing trend among companies leveraging invasive technologies to exploit unsuspecting consumers.

“Our investigation revealed that General Motors has engaged in egregious business practices that violated Texans’ privacy and broke the law. We will hold them accountable,” said Attorney General Paxton. “Companies are using invasive technology to violate the rights of our citizens in unthinkable ways.”

The crux of the lawsuit centers around GM’s use of technology installed in most vehicles manufactured since 2015. This technology allegedly collects, records, analyzes, and transmits detailed driving data every time a driver uses their vehicle, according to the press release.

Shockingly, GM sold this sensitive information to various third parties, including insurance companies, who used it to generate “Driving Scores” aimed at influencing insurance premiums.

“A customer’s Driving Score was based on a series of “factors” developed by General Motors that were supposedly indicative of “bad” driving behavior and included behavior such as (1) unique identifiers of a trip; (2) trip mileage; (3) hard braking and acceleration events; (4) speed events over 80 miles per hour; and (5) other behavior tracked by OnStar Vehicle Diagnostics (“OVD”). Under the Verisk Agreement, GM provided Verisk with the Driving Data necessary to determine whether a customer exhibited any “bad” driving behaviors,” according to the lawsuit.

This sensitive information includes location tracking, driving habits, personal communications within the vehicle’s system, customer ID, name, and home address.

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The GARMs Race: The House Moves Forward With its Investigation of Blacklisting Company

We have been discussing media rating systems being used to target advertisers and revenue sources for certain cites and companies. NewsGuard and the Global Alliance for Responsible Media (GARM) have been criticized as the most sophisticated components of a modern blacklisting system targeting conservative or dissenting voices. I recently had a series of exchanges with NewsGuard after a critical column.  Now, the House Judiciary Committee under Chairman Rep. Jim Jordan (R-Ohio) is moving forward in demanding documents and records from leading companies utilizing the GARM system, a company that I have previously criticized. It is a welcomed effort for anyone who is concerned over the use of these blacklisting systems to curtail free speech. However, time is of the essence.

The demand to preserve evidence went to various companies, including Adidas, American Express, Bayer, BP, Carhartt, Chanel, CVS and General Motors.

In my new book, I discuss the rating systems as a new and insidious form of blacklisting. Notably, Elon Musk has now filed a lawsuit against GARM and may be able to get more evidence out in discovery on the operations of this outfit.

It is an effort to strangle the financial life out of sites by targeting their donors and advertisers.  This is where the left has excelled beyond anything that has come before in speech crackdowns.

Years ago, I wrote about the Biden administration supporting efforts like the Global Disinformation Index (GDI) to discourage advertisers from supporting certain sites. All of the 10 riskiest sites targeted by the index were popular with conservatives, libertarians and independents. That included Reason.org and a group of libertarian and conservative law professors who simply write about cases and legal controversies. GDI warned advertisers against “financially supporting disinformation online.” At the same time, HuffPost, a far-left media outlet, was included among the 10 sites at lowest risk of spreading disinformation.

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World Federation of Advertisers shuts down GARM project after Elon Musk, Rumble sue over ad boycott

The Global Alliance for Responsible Media has decided to “discontinue activities” after a lawsuit filed against them by Elon Musk’s X and the Rumble platform. The group was under fire for antitrust violations after they had orchestrated ad boycotts of both platforms using their monopoly. 

The House Judiciary said this was a “Big win for the First Amendment” and a “Big win for oversight.” The House Committee brought questions about GARM, their monopoly on advertisers, and their use of that monopoly to influence online speech to a hearing. 

Rumble CEO Chris Pavlovski simply wanted to know “what are they hiding?” He has been forthcoming in discussing the ad boycott of his platform.

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Illinois changes biometric privacy law to help corporations avoid big payouts

Illinois has changed its Biometric Information Privacy Act (BIPA) to dramatically limit the financial penalties faced by companies that illegally obtain or sell biometric identifiers such as eye scans, face scans, fingerprints, and voiceprints.

The 2008 law required companies to obtain written consent for the collection or use of biometric data and allowed victims to sue for damages of $1,000 for each negligent violation and $5,000 for each intentional or reckless violation. But an amendment enacted on Friday states that multiple violations related to a single person’s biometric data will be counted as only one violation.

The amendment, approved by the Illinois Legislature in May and signed by Gov. J.B. Pritzker on August 2, provides “that a private entity that more than once collects or discloses a person’s biometric identifier or biometric information from the same person in violation of the Act has committed a single violation for which the aggrieved person is entitled to, at most, one recovery.”

As Reuters reports, the “changes to the law effectively overturn a 2023 Illinois Supreme Court ruling that said companies could be held liable for each time they misused a person’s private information and not only the first time.” That ruling came in a proposed class action brought against the White Castle restaurant chain by an employee.

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Dunkin’ Donuts and Diageo Booze Company Threaten to Remove Ads from Rumble if the Platform Does Not Remove Videos by Conservative Personalities

On Tuesday, Elon Musk’s X filed an antitrust lawsuit, which was filed in Texas federal court, seeking trebled compensatory damages and injunctive relief, against a left-leaning advertising cartel and several member companies.

The suit alleges X was targeted with an illegal ad boycott.

The lawsuit was filed against the Global Alliance for Responsible Media, its parent firm, World Federation of Advertisers (WFA), and GARM members CVS Health, Mars, Orsted, and Unilever, who reportedly controls a staggering 90% of marketing efforts worldwide.

Soon after Elon Musk’s announcement, Rumble CEO Chris Pavlovski announced he was joining the lawsuit with Elon Musk against the GARM cartel.

Rumble CEO Pavlovski explains how organizations like GARM and the World Federation of Advertisers have monopolized control over the major advertising budgets.

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Utility company’s proposal to rat out hidden marijuana operations to police raises privacy concerns

Operators of illegal marijuana grow enterprises hidden inside rural homes in Maine don’t have to worry much about prying neighbors. But their staggering electric bills may give rise to a new snitch.

An electric utility made an unusual proposal to help law enforcement target these illicit operations, which are being investigated for ties to transnational crime. Critics, however, worry the move would violate customers’ privacy.

More than a dozen states that legalized marijuana have seen a spike in illegal marijuana grow operations that utilize massive amounts of electricity. And Maine’s Versant Power has been receiving subpoenas — sometimes for 50 locations at a time — from law enforcement, said Arrian Myrick-Stockdell, corporate counsel. It’d be far more efficient, he suggested to utility regulators, to flip the script and allow electric utilities to report their suspicions to law enforcement.

“Versant has a very high success rate in being able to identify these locations, but we have no ability to communicate with law enforcement proactively,” Myrick-Stockdell told commissioners.

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