The Federal Bureau of Investigation (FBI) is opening a new China-related counterintelligence case about once every 10 hours as it pushes back against Beijing’s expansive campaign to steal American intellectual property (IP) and influence policymakers, FBI director Christopher Wray said in a speech on July 7. Wray warned that Beijing’s counterintelligence and economic espionage operations are the “greatest long-term threat” to the United States’ economic and national security. Its stealing of U.S. technology and trade secrets is on a scale “so massive that it represents one of the largest transfers of wealth in human history,” he said in a speech given at the Washington-based think tank Hudson Institute. His remarks come as the Trump administration ramps up its actions and rhetoric against the Chinese regime in a range of issues from…
LONDON鈥擝ritain launched a $625 million “Eat out to help out” discount scheme to boost spending at restaurants, cafes and pubs that have been crippled by COVID-19, offering half-priced meals from Monday to Wednesday to get people spending again.
For the month of August, the scheme will entitle diners to a 50 percent discount of up to 10 pounds per head on their meal, finance minister Rishi Sunak said.
“This moment is unique. We need to be creative,” he told parliament during a statement on the outlook for the economy.
The discount can be used unlimited times in August and will be valid Monday to Wednesday, in a bid to encourage people to dine out throughout the week and not just at the weekend.
It will not apply to alcohol.
Britain’s foodservice industry, which employed 1.8 million people before the crisis, has suffered thousands of job cuts, with layoffs announced by firms including the owners of the Caffe Ritazza and Cafe Rouge chains.
Sunak also announced a temporary cut in VAT sales tax from 20 percent to 5 percent for eat-in or hot takeaway food from restaurants, cafes and pubs.
Kate Nicholls, chief executive of industry lobby group UKHospitality, welcomed the announcements.
“The measures announced today are extremely positive鈥攁nd they should give many businesses in our sector much-needed help to get going again in earnest,” she said.
“It feels like manufacturing has been forgotten鈥攖ax reliefs for innovation, encouragement for consumer spending, industry stimulus packages, where are they?” asked Rowan Crozier, chief executive officer of Brandauer, a pressing and stamping company.
The Society of Motor Manufacturers and Traders said it was “bitterly disappointing” that Sunak stopped short of supporting the auto sector.
“Of Europe’s five biggest economies, Britain now stands alone in failing to provide any dedicated support for its automotive industry, a situation that will only deter future investment,” SMMT chief executive Mike Hawes said.
By James Davey and David Milliken
Focus News: ‘Eat out to Help Out’: UK Offers Diners Some Tasty Morsels
WASHINGTON鈥擳he job market took a big step toward healing in May, though plenty of damage remains, as a record level of hiring followed record layoffs in March and April. The Labor Department reported Tuesday that the number of available jobs rose sharply as well, but remained far below pre-pandemic levels. The figures, from the government’s Job Openings and Labor Turnover survey (pdf), or JOLTS, illustrate the whiplash the economy has experienced since the pandemic intensified in mid-March. Layoffs soared in March to a stunning 11.5 million, roughly four times the peak during the 2008-2009 recession. They remained extraordinarily high in April, at 7.7 million, but in May they fell back to pre-pandemic levels of 1.8 million. Hiring, meanwhile, plunged in April to 4 million, the lowest level since 2011, but…