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Goldman Sachs believes that the US support for Japans yen is unlikely to damage the dollars status as the worlds primary reserve currency. Japan is the largest foreign investor in the $31 trillion US Treasury market. Following the joint US-Japan currency intervention last month, some concerns arose that foreign exchange intervention aimed at preventing sharp fluctuations in the US bond market would weaken market confidence in the dollar as a reserve asset. Goldman Sachs stated that such views are based on the assumption that the US might try to prevent other countries from selling US Treasury bonds in the future. "This seems somewhat far-fetched," strategists, including Michael Cahill, wrote in a report. "We do not agree with the view that this action will damage the dollars reserve currency status."On August 7th, the Beijing Economic-Technological Development Area Administrative Committee issued a notice regarding the "Several Measures (Trial) of Beijing Economic-Technological Development Area on Supporting the High-Quality Development of Intelligent Economy Driven by Word Elements." The notice mentions increasing support for the research and development of dedicated inference chips, and continuously iterating on key core technologies such as advanced packaging, co-packaged optics, high-speed optical interconnection, and optical communication. It also emphasizes accelerating the deep integration of photonic computing with traditional computing power systems to comprehensively improve the parallel processing capabilities of large-scale models and massive word elements, adapting to large-scale high-speed word element inference scenarios. Furthermore, it explores integrated circuit system-level architecture innovation, promotes the large-scale upgrading of computing power clusters, and builds hardware barriers for low-cost mass production of word elements. Finally, it explores data pricing models based on word element transactions, supports the collection and processing of contextual data in professional fields at the enterprise and personal levels, and encourages the mass production of new data products such as expert avatars and service avatars. The notice also stipulates that 100 million yuan in data vouchers will be issued annually, providing purchasing entities with up to 1 million yuan in financial support based on 10% of the annual data transaction amount.Global Chip LOF: Trading in this fund will be suspended from the opening of the market on the afternoon of August 7, 2026 until the close of the market on the same day. During the suspension period, redemption services for this fund will continue as usual.August 7th - Data released by the Democratic Republic of Congos (DRC) Ministry of Health on August 6th showed that the countrys cumulative confirmed cases of Ebola in this outbreak had reached 4,053. The director of the Africa Centres for Disease Control and Prevention (Africa CDC), Kassia, stated that the actual number of infections may be higher than the reported cases. Data released by the DRC Ministry of Health showed that as of August 5th, the country had reported a cumulative total of 4,053 confirmed Ebola cases, including 1,850 deaths and 793 recoveries.On August 7th, the National Energy Administration issued the "15th Five-Year Action Plan for Power Safety Production." The plan emphasizes strengthening safety governance through "artificial intelligence+", innovating high-precision fault prediction and health management methods for equipment, promoting the embedding of artificial intelligence technology into intelligent safety tools, and researching power safety production auxiliary decision-making technologies based on large-scale artificial intelligence models. It also calls for increased independent research and development of key power equipment, enhanced research and development of new protective materials, the establishment of a special plan for tackling key technologies in core components of power equipment, and promoting breakthroughs in key technologies such as power chips and ultra-high voltage (UHV) unit components. Furthermore, it promotes technological innovation in safety and quality control of power construction projects, researches and constructs an intelligent supervision system for power construction projects, and utilizes artificial intelligence, big data, and other means to strengthen off-site supervision and quality control of key power projects.

Amazon Files a Grievance Against the Union's Victory in New York, Claiming Collusion

Haiden Holmes

Apr 08, 2022 10:02

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The United States' National Labor Relations Board (NLRB) has given Amazon until April 22 to substantiate its opposition to last week's poll in New York, in which Staten Island employees chose to create the company's first union in the United States. Amazon sought more time to provide evidence due to the "substantial" nature of its concerns, the company said in a filing Wednesday.


A verified election outcome would give organized labor a footing in the second biggest private employer in the United States, with the ability to affect how Amazon conducts its finely calibrated business.


Around 55% of employees at Amazon's JFK8 warehouse in the New York City borough of Staten Island who participated in the election chose to join the Amazon Labor Union (ALU), which has requested more compensation and job security. Since then, the union has been approached by employees at an additional 50 Amazon locations in the United States, according to the group's chairman.


Amazon's lawsuit said that company intends to challenge the decision on the grounds that the ALU interfered with workers in line to vote and that extended wait times decreased participation. Approximately 58% of eligible voters voted in person across many days.


Eric Milner, an attorney with the legal firm Simon & Milner who represents the ALU, denounced Amazon's assertions as bogus and said that they will be overturned.


"To assert that the Amazon Labor Union threatened staff is ludicrous," he said. "The Amazon Labor Union is composed entirely of Amazon workers."


Separately, the RWDSU expressed opposition on Thursday to an election in Bessemer, Alabama, in which Amazon employees voted against unionization. It was the second election in Bessemer, after the NLRB's determination that Amazon intervened unfairly in the last election there last year. The most recent results are still pending due to hundreds of contested votes and now the RWDSU's objections, which may prolong the process by months.


"We want our workers' votes to be heard," Amazon spokeswoman Kelly Nantel said. "We hope the NLRB considers every legitimate vote."


The RWDSU said in a filing that Amazon unjustly deleted pro-union information from non-work locations and dismissed one employee for speaking out in support of the union during required work sessions. The RWDSU said that these were sufficient reasons for the NLRB to vacate the decision.


Amazon expressed dissatisfaction with the RWDSU's activities, including the union's discussions with employees about the usage of a mailbox on warehouse property, but said that raising objections was regular procedure.


The company will have a difficult time showing that the New York union breached regulations governing employee involvement, according to John Logan, a labor expert at San Francisco State University.


Additionally, the NLRB often takes employer-related claimed breaches more seriously than union-related alleged violations, he said, since businesses wield more authority over employees.


"It's going to be really difficult" for Amazon, he said.

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