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How China Transformed Into a Prime Cyber Threat to the U.S.

Nearly a decade ago, the United States began naming and shaming China for an onslaught of online espionage, the bulk of it conducted using low-level phishing emails against American companies for intellectual property theft.On Monday, the United States again accused China of cyberattacks. But these attacks were highly aggressive, and they reveal that China has transformed into a far more sophisticated and mature digital adversary than the one that flummoxed U.S. officials a decade ago.The Biden administration’s indictment for the cyberattacks, along with interviews with dozens of current and former American officials, shows that China has …

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White House Dispute Exposes Facebook Blind Spot on Misinformation

“The suggestion we haven’t put resources toward combating Covid misinformation and supporting the vaccine rollout is just not supported by the facts,” said Dani Lever, a Facebook spokeswoman. “With no standard definition for vaccine misinformation, and with both false and even true content (often shared by mainstream media outlets) potentially discouraging vaccine acceptance, we focus on the outcomes — measuring whether people who use Facebook are accepting of Covid-19 vaccines.”Executives at Facebook, including its chief executive, Mark Zuckerberg, have said the company committed to removing Covid-19 misinformation since the start of the pandemic. The company said it had removed …

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Yellen Says China Trade Deal Has ‘Hurt American Consumers’

WASHINGTON — Treasury Secretary Janet L. Yellen has cast doubt on the merits of the trade agreement between the United States and China, arguing that it has failed to address the most pressing disputes between the world’s two largest economies and warning that the tariffs that remain in place have harmed American consumers.Ms. Yellen’s comments, made in an interview with The New York Times this week, come as the Biden administration is seven months into an extensive review of America’s economic relationship with China. The review must answer the central question of what to do about the …

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Building Solar Farms May Not Build the Middle Class

‘Like a Moving Assembly Line’On an afternoon in mid-May, several laborers coming off their shift at Assembly Solar said they were grateful for the work, which they said paid $16 an hour and provided health insurance and 401(k) contributions. Two said they had moved to the area from Memphis and two from Mississippi, where they had made $9 to $15 an hour — one as a cook, two in construction and one as a mechanic.Jeff Ordower, an organizer with the Green Workers Alliance, a group that pushes for better conditions on such projects, said that out-of-state workers often found jobs through recruiters, …

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More Power Lines or Rooftop Solar Panels: The Fight Over Energy’s Future

The nation is facing once in a generation choices about how energy ought to be delivered to homes, businesses and electric cars — decisions that could shape the course of climate change and determine how the United States copes with wildfires, heat waves and other extreme weather linked to global warming.On one side, large electric utilities and President Biden want to build thousands of miles of power lines to move electricity created by distant wind turbines and solar farms to cities and suburbs. On the other, some environmental organizations and community groups are pushing for greater investment in rooftop solar …

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Biden Urges More Scrutiny of Big Businesses, Such as Tech Giants

WASHINGTON — President Biden signed a sweeping executive order on Friday intended to increase competition within the nation’s economy and to limit corporate dominance, factors the White House says have led to higher prices and fewer choices for consumers while dampening pay and restricting the freedom to change jobs.The administration encouraged federal agencies to take a wide range of actions, such as more closely scrutinizing the tech industry, cracking down on high fees charged by ocean shippers and allowing hearing aids to be sold over the counter.“What we’ve seen over the past few decades is less competition …

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Finance Ministers Meet in Venice to Finalize Global Tax Agreement

“It is important to recognize that there are numerous policy levers and paths that countries will take to create incentives for decarbonization,” Ms. Yellen said during a panel discussion. “Those could include regulatory measures, standards, direct public investments, public subsidies to incentivize private investments, and carbon markets.”She added: “Our policies should have the common goal of giving the public and private sector the clarity, incentives, and resources to reduce emissions.”Ms. Yellen, who is making her second international trip as Treasury secretary, will be holding bilateral meetings with many of her counterparts, including officials from Saudi Arabia, Japan, Turkey …

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Biden to Urge More Scrutiny of Big Business

WASHINGTON — President Biden will sign a sweeping executive order on Friday aimed at spurring competition across the economy, encouraging federal agencies to take a wide range of actions, including more closely scrutinizing the tech industry, cracking down on high fees charged by sea shippers and allowing hearing aids to be sold over the counter.The order reflects the administration’s growing embrace of warnings by some economists that declining competition is hobbling the economy’s vitality, raising prices and reducing choices for consumers in key areas, while dampening pay and restricting freedom to change jobs for workers.But Mr. Biden …

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Gas Price Increase Poses Challenge to U.S. Economy

Policymakers at the Federal Reserve have said they expect the increase in inflation to be short-lived, and they are unlikely to change that view based on an increase in energy prices, which are often volatile even in normal times, said Jay Bryson, chief economist at Wells Fargo.But if rising oil prices lead consumers and businesses to believe that faster inflation will continue, that could be a harder problem for the Fed. Economic research suggests that prices of things that consumers buy often, such as food and gasoline, weigh particularly heavily on their expectations for inflation. With public opinion surveys …

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Attempted Hack of R.N.C. and Russian Ransomware Attack Test Biden

Last month, Mr. Biden used the summit with Mr. Putin to make the case that ransomware was emerging as an even larger threat, causing the kind of economic disruption that no state could tolerate. Mr. Biden specifically cited the halting of the flow of gasoline on the East Coast after an attack on Colonial Pipeline in June, as well as the shutdown of major meat-processing plants and earlier ransomware attacks that paralyzed hospitals.The issue has become so urgent that it has begun shifting the negotiations between Washington and Moscow, raising the control of digital weapons to a level of …

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