• Business
    Car and Driver

    Tested: 2020 Tesla Model S with Cheetah Mode Delivers Real Gains

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  • Politics
    The Week

    Trump campaign tweets mugshots of alleged criminals, all of them Black, to claim Biden is pro-crime

    Trump campaign Twitter account @TrumpWarRoom has tweeted and retweeted some questionable things in the past. Lately, it's been all systems go against former Vice President Joe Biden, who is set to oppose President Trump in November's election.The latest effort to bring down Biden is a series of tweets that seem to claim Biden is pro-crime. In a blog post, the campaign points to Biden staffer's donations to bail funds amid the nationwide protests against police brutality. The campaign highlighted four alleged "regular criminals," all of them Black, who were supposedly freed from jail thanks to Biden. Remember Willie Horton? President Trump's campaign is tweeting mugshots of black people to attack Joe Biden. pic.twitter.com/ursYZoXv5b — Chris Megerian (@ChrisMegerian) August 11, 2020The mugshots were posted alongside rhetorical questions like "Does Joe Biden regret his campaign putting women in danger?" The donations to the bail fund were made by individual staffers, not by the Biden campaign as a whole. Still, the post asserts the streets are now less safe "thanks in part to the Biden campaign."The Trump campaign's strategy was quickly denounced as racist fearmongering. The Washington Post's Philip Bump pointed out that Biden himself is only loosely connected to the bailouts, and that it's not clear those pictured have been convicted of the crimes listed. Given Trump's insistence on respecting "due process," it seems like a significant oversight.More stories from theweek.com The case against American truck bloat Trump has reportedly privately said he intends to replace Mark Esper after November election Trump has pretty much eliminated daily intelligence briefings. Biden has already started receiving them.

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  • Celebrity
    E!

    Kylie Jenner Demanding "Let Me F--king Live" While Taking Shots Is Such a Mood

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  • Business
    Autoweek

    15 Cars You Can Buy from Hertz for $15,000 or Less

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  • Business
    Bloomberg

    China’s Days as World’s Factory Are Over, IPhone Maker Says

    (Bloomberg) -- A key supplier to Apple Inc. and a dozen other tech giants plans to split its supply chain between the Chinese market and the U.S., declaring that China’s time as factory to the world is finished because of the trade war.Hon Hai Precision Industry Co. Chairman Young Liu said it’s gradually adding more capacity outside of China, the main base of production for gadgets from iPhones to Dell desktops and Nintendo Switches. The proportion outside the country is now at 30%, up from 25% last June.That ratio will rise as the company -- known also as Foxconn -- moves more manufacturing to Southeast Asia and other regions to avoid escalating tariffs on Chinese-made goods headed to U.S. markets, Liu told reporters after his company reported financial results.“No matter if it’s India, Southeast Asia or the Americas, there will be a manufacturing ecosystem in each,” Liu told investors on a conference call, adding that while China will still play a key role in Foxconn’s manufacturing empire, the country’s “days as the world’s factory are done.”Foxconn said in a statement Thursday that, contrary to “inaccurate media reports,” management’s comments during the call did not refer to any specific companies, facilities or products, and were intended to reflect macroeconomic and industry trends.Intensifying trade tensions between Washington and Beijing have pushed device manufacturers to diversify their production bases away from China, and Liu last year said that Apple’s most prized product, the iPhone, can be made outside China if needed. The two nations remain in trade talks, but Liu’s comments affirm a growing expectation that the China-centric electronics supply chain will fragment over the longer term.Read more: Trump Tumult Has Gadget Giants Splitting Along U.S.-China LinesThe Taiwanese company reported better-than-expected net income of NT$22.9 billion ($778 million) for the quarter ended in June, a period that saw increased demand for iPads and MacBooks. Revenue was NT$1.13 trillion, but Hon Hai warned it expects its third-quarter sales will be down by double digits relative to 2019. Apple is expected to delay its iPhone launch this year.Hon Hai is bouncing back from a record profit slump in the first quarter as production at its factories recovered and shelter-in-place orders spurred demand for home computing equipment. The pandemic likely boosted iPad and Mac sales, even as Apple store closures weighed on iPhone sales, Apple CEO Tim Cook said on July 31 after reporting quarterly revenue that crushed estimates. Apple accounts for half of Hon Hai’s sales.Read More: Apple Smashes Revenue, IPhone Estimates on Pandemic DemandEven as Apple outperformed, Hon Hai’s other customers have fared less well. Hong Kong-listed subsidiary FIH Mobile Ltd. said in its Aug. 7 earnings release that while Huawei Technologies Co.’s new phones have been popular in China, they missed expectations elsewhere following U.S. sanctions. Another key customer Xiaomi Corp. suffered a backlash in the Indian market amid growing tensions between China and the South Asian country. FIH lost $100 million in the first half.Foxconn has been shaking up its traditionally China-focused operations. Hon Hai is among Apple assembly partners that plan to expand operations in India, potentially helping the iPhone maker grow its presence in the country of 1.3 billion and shift some of the U.S. company’s supply chain outside of China as ties between Washington and Beijing fray.Chinese rivals are also posing a growing challenge. Local electronics titan Luxshare Precision Industry Co. is poised to become the first Chinese homegrown iPhone assembler after sealing a deal in July to buy an Apple handset production plant from Wistron Corp. While Hon Hai will keep assembly orders for premium iPhones, Luxshare will eat into the business for mid-to-entry-level Apple handsets, Fubon Securities analyst Arthur Liao wrote in a July 23 note.Foxconn will work on its component business to maintain tech leadership and it also benefits from its long-term relationship with Apple, Liu said in response to several analysts’ questions about Foxconn’s competitive strategy against the rising Chinese supplier.Orders could be further affected after President Donald Trump issued an executive order barring U.S. residents from doing business with Tencent Holdings Ltd.’s WeChat. Annual iPhone shipments could plunge 25%-30% if Apple is forced to remove the app from its app stores worldwide, TF International Securities analyst Kuo Ming-chi warned in an August 9 note.(Updates with Foxconn’s statement from the fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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