US rail companies and unions reach tentative agreement to avert catastrophic strike

• This morning, after 20 hours of talks, negotiators from the railway companies and unions came to a tentative agreement that balances the needs of workers, companies and the economy. Railroad stocks rose after the news.
• The interim deal averts a railroad strike that threatened to shut down US supply chains and drive up prices on many goods.
• The potential strike by US rail workers threatens to delay the movement of consumer goods from China, impacting global supply chains trying to recover from disruptions stemming from the pandemic and the war between Ukraine and Russia.

Reuters

Tesla is rethinking its sales strategy in China and wants to cut stores in conspicuous malls

• Tesla Inc TSLA Reassessing how it sells electric cars in China and considering closing some showrooms in conspicuous malls in cities like Beijing that have seen traffic slump during the pandemic restrictions.
• China is Tesla’s second largest market.
• The shift would focus more on shops in less expensive suburban locations that can also offer repairs. The move comes after Tesla worked to meet Elon Musk’s The aim is to improve service for existing customers, many of whom have complained of lengthy delays.

The Swiss Competition Commission is investigating the use of patents by Novartis to defend against competition

• The Swiss Competition Commission (WEKO) has launched an investigation Novartis AG NVS about the alleged illegal use of patents to reduce competitive pressure.
• “The company is said to have tried to protect its drug for the treatment of skin diseases against competing products by using one of its patents to initiate court proceedings,” WEKO said.

Netflix could face legal action over South Korean crime drama in Suriname: What you should know

• Suriname is considering legal action against the producers of the South Korean hit Netflix Inc NFLX series “Narco Saints”, which, in his opinion, negative images of …