Sleep Country Canada Holdings Inc. reported net income of $12.7 million in the second quarter, down from $22.7 million last year.
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Biden Signs Narrow China Investing Rules as US Seeks Better TiesPresident Joe Biden signed an executive order limiting US investment in some Chinese firms, part of a push to restrict the country’s ability to develop next-generation military and surveillance technologies that might threaten US national security.
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Biden orders ban of U.S. investments in certain China technologies - National | Globalnews.caThe Biden administration said it engaged with U.S. allies and partners as it developed the restrictions 'and will continue coordinating closely with them to advance these goals.'
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Biden’s new restrictions on U.S. investment in China prompt Ottawa to consult with WashingtonPress secretary for Innovation Minister did not say whether Canada would consider similar measures against Chinese advancement in some technology sectors
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Biden Administration Takes Steps to Limit China's Technological AdvancementsThe Biden administration has issued an executive order aimed at curbing China's use of U.S. investments in its technology companies to enhance its military capabilities. While the order seeks to protect broader trade relations between the two nations, it reflects the growing geopolitical competition between the United States and China. The administration has consulted with allies and industry in shaping the order, signaling a strategic approach to address China's economic and military advancements.
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China's deflation and US-China tensions raise concerns about fuel demandRecent data shows that the consumer sector in China fell into deflation and factory gate prices extended declines in July, raising concerns about fuel demand in the world’s second-largest economy. The US is also prohibiting some investment in China in sensitive technologies and requires government notification in other tech sectors. Despite this, OPEC expects a healthy oil market for the rest of the year and robust oil demand in 2024.
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