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Lachlan Murdoch and his siblings attended Dalton, a private school on Manhattan’s Upper East Side, and other elite schools, including Trinity School. In 1999, Lachlan Murdoch assumed responsibility for print operations in the U.S. [1/3]Then Newscorp chairman Rupert Murdoch and son Lachlan Murdoch in the crowd before Super Bowl LI at NRG Stadium in Houston, Texas, U.S., February 5, 2017. The newly constituted Fox was reduced to a handful of assets, including the Fox broadcast network, Fox News, Fox Sports and Fox Business, with Lachlan Murdoch serving as its executive chair and chief executive officer. As chief executive of Fox Corp since 2019, Lachlan Murdoch has presided over the media properties during seismic change in the industry, as viewers cut cable subscriptions in favor of streaming services.

Persons: Lachlan Murdoch, Rupert Murdoch, Murdoch, Rupert Murdoch’s, Anna, Australian Broadcasting Corp’s, Paddy Manning’s, “, Lachlan, James, Dalton, Manning, Robert Deutsch, Walt Disney, Brother James Murdoch, Chris Mitchell, ”, James Murdoch, Kathryn, Fox, Donald Trump, Dawn Chmielewski, Helen Coster, Kenneth Li, Nick Zieminski Organizations: News Corp, Fox Corp, Wall Street Journal, Fox News, Sun, Fox Sports, Fox Entertainment, Australian Broadcasting, New, New York Post, The New York Times, Daily News, Wall Street, San Antonio Express, Monopoly, Trinity School, Trinity Conservative Society, Princeton, News Ltd, U.S ., New York, Century Fox, Walt, Fox, Fox Business, Disney, New York Times, Daily, Dominion Voting Systems, Thomson Locations: Australia, United States, London, New York, U.S, Illyria, NRG, Houston , Texas, Los Angeles

☆ China climate envoy says phasing out fossil fuels 'unrealistic'
▼ + stars: | 2023-09-22 | by ( David Stanway | ) www.reuters.com time to read: +3 min

SINGAPORE, Sept 22 (Reuters) - The complete phasing-out of fossil fuels is not realistic, China's top climate official said, adding that these climate-warming fuels must continue to play a vital role in maintaining global energy security. China is the world's biggest consumer of fossil fuels including coal and oil, and its special climate envoy Xie Zhenhua was responding to comments by ambassadors at a forum in Beijing on Thursday ahead of the COP28 climate meeting in Dubai in November. The stocktake will be at the centre of discussions at the COP28 climate meeting, with campaigners hoping it will create the political will to set clear targets to end coal and oil use. "It is unrealistic to completely phase out fossil fuel energy," said Xie, who will represent China at COP28 this year. At climate talks in Glasgow in 2021, China led efforts to change the language of the final agreement from "phasing out" to "phasing down" fossil fuels.

Persons: Xie Zhenhua, Xie, John Kerry, Nancy Pelosi's, David Stanway, Miral Organizations: Reuters, U.S, Thomson Locations: SINGAPORE, China, Beijing, Dubai, COP28, Glasgow, United States, Taiwan

☆ Green energy’s tailwinds blow the other way
▼ + stars: | 2023-09-22 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +7 min

Falling costs, cheap capital and supportive politicians helped propel a headlong rush into renewable power. As relations with China deteriorate, the United States and Europe are increasingly concerned about the country’s grip on parts of the green energy supply chain. In recent roundtable discussions moderated by Breakingviews on both sides of the Atlantic, participants expressed optimism about the momentum of investment in green energy. The IRA has unleashed a green energy boom. The world can ill afford to relax its embrace of green power.

Persons: Rishi Sunak, –, Joe Biden’s, Jared Cohen, Goldman Sachs, Breakingviews, carmaker Ford, Rishi Sunak’s, Pennsylvania’s Penn, George Hay, Sharon Lam, Aditya Sriwatsav Organizations: Britain's, Downing, Reuters, Global, International Energy Agency, International Renewable Energy Agency, Energy, Commission, Applied Innovation, Goldman, Amperex Technology, Companies, British, MIT’s Center for Energy, Environmental, Research, University, Pennsylvania’s, Thomson Locations: London, Ukraine, U.S, China, United States, Europe, People’s Republic, Vietnam, Mexico

BEIJING, Sept 22 (Reuters) - A leading activist in China's #MeToo movement went on trial for subversion on Friday, according to several diplomats and a spokesperson for a campaign group calling for her release. The day before her arrest, Huang had been scheduled to fly to Britain to begin a master's degree at the University of Sussex on a British government-funded scholarship, the campaign group spokesperson said. Huang, an independent journalist who covered Chinese #MeToo allegations and the 2019 Hong Kong anti-government protests, had been detained by Chinese police for three months in late 2019. The campaign group spokesperson said the charges of sedition against her and Wang were based on the gatherings the two activists often held for Chinese youth during which they discussed social issues. The police did not respond to a faxed request to comment on the allegations made by the campaign spokesperson.

Persons: Huang Xueqin, Wang Jianbing, Huang, Wang, Laurie Chen, Miral Organizations: People's, University of Sussex, Police, British Foreign Office, Hong, Thomson Locations: BEIJING, China's, Guangzhou, United States, Britain, Germany, France, Netherlands, Beijing, Hong Kong

“Russia’s thinly veiled threats to use nuclear weapons remind the world that escalation of the conflict – by accident, intention, or miscalculation – is a terrible risk. New Construction at Russia's Novaya Zemlya nuclear test site, June 22, 2023. Lop Nur nuclear test site. “The Chinese test site is different than the Russian test site,” Lewis said. Both countries keep their strategic nuclear arsenals on “hair-trigger” alert, meaning that nuclear weapons can be launched on short notice.

Persons: Jeffrey Lewis, James Martin, ”, Cedric Leighton, “, Vladimir Putin, ” Lewis, Lewis ’, António Guterres, ” Guterres, Dmitry Medvedev, Putin, Alexander Lukashenko, Sergei Shoigu, Lewis, we’ve, Leighton, they’d, ” Leighton, Nur, Hans Kristensen, Kristensen, Israel –, Dyess, Frederic J . Brown, Fiona Cunningham, Yang Kun, ” Daryl Kimball, Kimball, Michael Frankel, James Scouras, George Ullrich, Soviet Union –, Russia –, We’re Organizations: CNN, James, James Martin Center, Nonproliferation Studies, Middlebury Institute of International Studies, US, US Air Force, Atomic Scientists, Soviet Union, United Nations, Russia’s Security, Russian Defense Ministry, Planet Labs PBC, Middlebury, Science and Global Security, Novaya, Middlebury Institute, China Observer, China’s Foreign Ministry, Planet Labs, Nevada National Security, National Security Administration, US Department of Energy, Office, National Security Council, International Monitoring, Federation of American Scientists, Stockholm International Peace Research Institute, Missile Defense, Center for Strategic, International Studies, Columbia, Northrop Grumman's Air Force, Getty, Control Association, ACA, NGO, PLA, Nuclear, Carnegie Endowment, International, Arms Control Association, Johns Hopkins Applied Physics Laboratory, Soviet Locations: Russia, United States, China, Xinjiang, Nevada, . China, Moscow, Washington, Ukraine, Soviet, Belarus, Minsk, Novaya Zemlya, Zemlya, Soviet Union, Lop Nur, Japan, Lop, Beijing, Stockholm, United Kingdom, France, India, Pakistan, North Korea, Israel, Ellsworth, Palmdale , California, AFP, Yuli County, Mongol Autonomous Prefecture, Xinjiang Uygur Autonomous Region, Baltimore, Russian, Hiroshima

☆ Oil prices rise as supply concerns outweigh demand fears
▼ + stars: | 2023-09-22 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose on Friday as concerns that a Russian ban on fuel exports could tighten global oil supply outweighed fears that further possible U.S. interest rate hikes could dent fuel demand, but they were still headed for a weekly loss in four. Brent futures for climbed 21 cents, or 0.2%, to $93.51 a barrel by 0103 GMT, while U.S. West Texas Intermediate crude, or WTI, futures gained 23 cents, or 0.3%, to $89.86. The shortfall, which will force Russia's fuel buyers to shop elsewhere, caused heating oil futures to rise by nearly 5% on Thursday. The U.S. Federal Reserve on Wednesday maintained interest rates, but stiffened its hawkish stance, projecting a quarter-percentage-point increase to 5.50 to 5.75% by year-end. The Bank of England mirrored the Fed and held interest rates on Thursday after a long run of hikes, but said it was not taking a recent fall in inflation for granted.

Persons: Rishi Sunak, Brent, Toshitaka Tazawa Organizations: U.S, West Texas, of, Petroleum, Fujitomi Securities Co Ltd, U.S . Federal Reserve, Bank of England Locations: OPEC, United States, Europe, Russia

A few compounds picked by AI are now in development, but those bets will take years to play out. Reuters interviews with more than a dozen pharmaceutical company executives, drug regulators, public health experts and AI firms show, however, that the technology is playing a sizeable and growing role in human drug trials. The U.S. Food and Drug Administration (FDA) said it had received about 300 applications that incorporate AI or machine learning in drug development from 2016 through 2022. Without AI, Bayer said it would have spent millions more, and taken up to nine months longer to recruit volunteers. Finding real-world patients by mining electronic patient data can be done manually, but using AI speeds up the process dramatically.

Persons: Dado Ruvic, Jeffrey Morgan, Amgen, Badhri Srinivasan, Sameer Pujari, drugmaker Bayer, Bayer, Blythe Adamson, Roche, Richard Pazdur, Gen Li, John Concato, Natalie Grover, Martin Coulter, Julie Steenhuysen, Josephine Mason, David Clarke Organizations: Pharmaceutical Research, REUTERS, Pharmaceutical, Bayer, Novartis, Deloitte, U.S . Food, Drug Administration, Reuters, World Health, Flatiron Health, FDA, European Medicines Agency, FDA's Oncology, Excellence, Medical, FDA's Center, Drug, Research, Thomson Locations: U.S, Johannesburg, Texas, Finland, United States, London, Chicago

☆ US firm AXT says China unit has initial export permits for key chipmaking metals
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The elements of Gallium and Germanium are seen on a periodic table, in this illustration picture taken on July 6, 2023. REUTERS/Florence Lo/Illustration Acquire Licensing RightsBEIJING, Sept 22 (Reuters) - U.S. semiconductor wafer maker AXT Inc (AXTI.O) said its Chinese subsidiary Beijing Tongmei had received initial export permits for shipping gallium arsenide and germanium substrates - compounds key to chipmaking - to certain customers. China's Ministry of Commerce said on Thursday that some Chinese companies had obtained export licences for gallium and germanium products, with more still being reviewed. This came after China's exports of germanium and gallium items plunged in August, the first month of the export controls，customs data showed on Wednesday. There were also no exports of wrought gallium products in August, compared to 5.15 tons in July and 7.67 tons in August in 2022, the data showed.

Persons: Florence Lo, Beijing Tongmei, Tongmei, Amy Lv, Dominique Patton, Tom Hogue, Stephen Coates Organizations: REUTERS, Rights, AXT Inc, Beijing, China's Ministry of Commerce, China, Thomson Locations: Rights BEIJING, . California, China, Beijing, United States, Washington

☆ India's Wipro slides after CFO Dalal resigns in latest high-profile exit
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBENGALURU, Sept 22 (Reuters) - Shares of Wipro (WIPR.NS) slid almost 3% on Friday, a day after long-serving CFO Jatin Dalal resigned in a surprise move, the latest senior level exit at the fourth-largest Indian IT services provider. Dalal's exit follows those of Chief Operations Officer Sanjeev Singh and several senior vice presidents as Wipro wades through a years-long turnaround of its business. Wipro has already forecast revenue from IT services would remain largely flat for the current quarter as clients cut spending. Shares of the company hit a near three-week low after news of the CFO change announced Thursday. Reporting by Chris Thomas and Nallur Sethuraman in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Jatin Dalal, Sanjeev Singh, Dalal, Aparna Iyer, Rajesh Gopinathan, Mohit Joshi, Ravi Kumar, Chris Thomas, Nallur, Nivedita Organizations: Wipro, REUTERS, Rights, Indian, Wipro wades, Kotak, Tata Consultancy Services, Infosys, Tech Mahindra, Cognizant Technology Solutions, Thomson Locations: India, United States, Bengaluru

☆ Twice US World Cup champion Ertz bows out
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

[1/2] Sep 21, 2023; Cincinnati, Ohio, USA; United States midfielder Julie Ertz (8) acknowledges the crowd as she walks the field after the match against South Africa at TQL Stadium. Mandatory Credit: Aaron Doster-USA TODAY Sports Acquire Licensing RightsSept 21 (Reuters) - Two-time World Cup champion Julie Ertz bid farewell to professional soccer with a 3-0 U.S. victory over South Africa in a friendly in Cincinnati on Thursday. Ertz, a twice Female Player of the Year who played a key role in the team's World Cup winning campaigns in 2015 and 2019, was given an emotional send off with fans holding up messages of appreciation throughout the contest. Some were hoping that Ertz, who took an 18-month break prior to this year's Women's World Cup to give birth to her son Madden, might be convinced to stay on through next year's Paris Olympics but she said her priorities had changed. "I've got a little boy that I'm exciting to spend my time with," said Ertz, who is married to NFL tight end Zach Ertz.

Persons: Julie Ertz, Aaron Doster, Ertz, Madden, I've, Zach Ertz, Striker Alex Morgan, She's, Morgan, Megan Rapinoe, Rory Carroll, Michael Perry Organizations: South, TQL, NFL, Women's Soccer League, Chicago Red Stars, Angel City FC, U.S ., Thomson Locations: Cincinnati , Ohio, USA, United States, South Africa, Cincinnati, Los Angeles, New Zealand, Australia, Chicago

☆ Azerbaijan says it sees amnesty for Karabakh fighters who lay down arms
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +3 min

Hayk Baghdasaryan/Photolure via REUTERS/file photo Acquire Licensing RightsGORIS, Armenia, Sept 22 (Reuters) - Azerbaijan envisages an amnesty for Karabakh Armenian fighters who give up their arms, though there have been some Karabakh military units which have said they will continue their resistance, an Azeri presidential adviser told Reuters. Azerbaijani President Ilham Aliyev on Wednesday said his iron fist had consigned the idea of a separate ethnic Armenian Karabakh to history and that now the region would live in "paradise" as part of Azerbaijan. Hikmet Hajiyev, foreign policy adviser to Azerbaijan's president, told Reuters in a television interview that Baku envisaged an amnesty for those Karabakh fighters who gave up their weapons. Karabakh Armenian rights would be respected as part of their integration into Azerbaijan, he said, adding that they had requested humanitarian support as well as oil and gasoline supplies. Armenian Prime Minister Nikol Pashinyan said that Armenia was prepared to accept refugees from Nagorno-Karabakh.

Persons: Nikol Pashinyan, Hayk, Ilham Aliyev, Hikmet Hajiyev, Hajiyev, Roman, Guy Faulconbridge, Peter Graff Organizations: REUTERS, Karabakh, Wednesday, Reuters, Soviets, Thomson Locations: Nagorno, Karabakh, Yerevan, Armenia, Photolure, Azerbaijan, Baku, Soviet Union, Russia, West, Turkey, Armenian, Russians, Ottomans, South Caucasus, United States, Iran

☆ South Korea asks US to resolve chip trade issues
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsSEOUL, Sept 22 (Reuters) - South Korea on Friday said it has asked the United States to resolve uncertainties regarding U.S. export controls in the chip sector and subsidies for chip investment. The waiver allowed the South Korean pair to supply equipment for their chip production facilities in China without additional licensing requirements. Bang has sought "active cooperation" from the U.S. Department of Commerce to resolve issues relating to export controls, South Korea's Ministry of Trade, Industry and Energy said in a statement without elaborating. Samsung Electronics has NAND flash memory production in Xian, China whereas SK Hynix has DRAM chip production in Wuxi and NAND Flash production in Dalian. The companies together control nearly 70% of global DRAM and 50% of NAND flash markets as at June-end, showed data from TrendForce.

Persons: Florence Lo, Commerce Don Graves, Bang, Joyce Lee, Heekyong Yang, Christopher Cushing Organizations: REUTERS, Rights, Industry, U.S, Commerce, Samsung Electronics, SK Hynix, U.S . Department of Commerce, Korea's Ministry of Trade, Energy, TrendForce, Samsung, Thomson Locations: Rights SEOUL, South Korea, United States, Seoul, China, U.S, Korea's, Xian , China, Wuxi, Dalian, Texas

Ukraine President Volodymyr Zelenskiy listens during an event to thank Americans for their support of Ukraine in the war with Russia, at the National Archives in Washington, U.S., September 21, 2023. REUTERS/Evelyn Hockstein/file photo Acquire Licensing RightsOTTAWA, Sept 22 (Reuters) - Ukrainian President Volodymyr Zelenskiy on Friday makes his first visit to close ally Canada, where he is guaranteed a warmer welcome than he received from some U.S. politicians skeptical about providing more military aid. Zelenskiy is due to address parliament in Ottawa and then hold a news conference with Trudeau. "If friends of Ukraine want Ukraine to win the war, then the only way that happens is with renewed and more military support." There are 1.4 million people of Ukrainian descent in Canada, the third most after Ukraine and Russia.

Persons: Volodymyr Zelenskiy, Evelyn Hockstein, Kyiv's, Justin Trudeau, Zelenskiy, Trudeau, Ihor Michalchyshyn, David Perry, David Ljunggren, Deepa Babington Organizations: National Archives, REUTERS, Rights, Ukrainian Canadian Congress, NATO, Canadian, Ottawa, Canadian Global Affairs Institute, Thomson Locations: Ukraine, Russia, Washington , U.S, Canada, New York, Ottawa, In Washington, United States, Germany

☆ Defence minister's disappearance latest case of missing Chinese official
▼ + stars: | 2023-09-22 | by ( Yew Lun Tian | ) www.reuters.com time to read: +3 min

BEIJING, Sept 22 (Reuters) - The disappearance of China's Defence Minister Li Shangfu, who is being investigated for corruption, is just the latest recent case in which a senior official in President Xi Jinping's entourage has mysteriously vanished. If the official is from the military, the investigating body is the People's Liberation Army's own Discipline Inspection Commission. LI YUCHAO AND XU ZHONGBO, EX-ROCKET FORCE LEADERSAnother military general missing-in-action is Li Yuchao, 60, who was put in charge of China's conventional and nuclear missiles in January last year. Xu Zhongbo was replaced by an air force general from the Southern Theatre Command. Neither Li Yuchao nor Xu Zhongbo have been seen in public for months.

Persons: Li Shangfu, Xi Jinping's, Qin Gang, LI, China's, Li, QIN, Qin, Xi Jinping, XIAO YAQING, Xiao, XU ZHONGBO, Li Yuchao, Xu Zhongbo, Yew Lun, Antoni Slodkowski, Michael Perry Organizations: China's Defence, Commission, Chinese Communist Party, Foreign, Reuters, Wall Street, Communist Party, FORCE, Rocket Force, Southern Theatre Command, Thomson Locations: BEIJING, Beijing, Russia, Belarus, Vietnam, United States

☆ China's AI 'war of a hundred models' heads for a shakeout
▼ + stars: | 2023-09-21 | by ( Josh Ye | ) www.reuters.com time to read: +5 min

Additionally, companies have also announced dozens of "industry-specific LLMs" that link to their core model. However, investors and analysts say that most were yet to find viable business models, were too similar to each other and were now grappling with surging costs. Several other big name entrepreneurs and tech executives are behind new Chinese AI startups, such as Google China's former chief Kai-Fu Lee and Yan Juejie, a former vice-president of SenseTime (0020.HK). Others said that China's largest tech companies Alibaba, Tencent and Baidu ultimately had the biggest headstart and deep pockets to succeed, given their large user bases and wide range of services. For instance, they could easily offer generative AI services as an additional plug-in to their cloud users.

Persons: Baidu's, Robin Li, Ernie Bot, Tingshu Wang, OpenAI's, Esme Pau, Pau, Yuan Hongwei, Meta, Baichuan, Wang Xiaochuan, China's, Wang, Yuan, Kai, Fu Lee, Yan Juejie, SenseTime, Tony Tung, Tung, Josh Ye, Brenda Goh, Sam Holmes Organizations: Baidu, REUTERS, HK, Huawei, Nvidia, China, Macquarie Group, Y, Baichuan Intelligence, Inc, Sogou, Google, Partners, Thomson Locations: Beijing, China, HONG KONG, Alibaba, United States, Washington, Shenzhen

[1/3] Then Newscorp chairman Rupert Murdoch and son Lachlan Murdoch in the crowd before Super Bowl LI at NRG Stadium in Houston, Texas, U.S., February 5, 2017. In 1999, Lachlan Murdoch assumed responsibility for print operations in the U.S. Lachlan Murdoch founded Illyria Pty, a private investment company, whose acquisitions included a network of Australian radio stations. The newly constituted Fox was reduced to a handful of assets, including the Fox broadcast network, Fox News, Fox Sports and Fox Business, with Lachlan Murdoch serving as its executive chair and chief executive officer. While Rupert Murdoch built his legacy pursuing the television, movie and newspaper businesses with equal abandon, Lachlan’s legacy is still taking shape.

Persons: Rupert Murdoch, Lachlan Murdoch, Robert Deutsch, Murdoch, Rupert Murdoch’s, Anna, Australian Broadcasting Corporation’s, Paddy Manning’s, “, Lachlan, James, Dalton, Manning, Walt Disney, Brother James Murdoch, Lachlan Murdoch doesn’t, Chris Mitchell, ”, Fox, Donald Trump, Dawn Chmielewski, Helen Coster, Kenneth Li, Nick Zieminski Organizations: News Corp, Fox Corp, Wall Street Journal, Fox News, Sun, Fox Sports, Fox Entertainment, Australian Broadcasting, New, New York Post, The New York Times, Daily News, Wall Street, San Antonio Express, Monopoly, Trinity School, Trinity Conservative Society, News, New York, Century Fox, Walt, Fox, Fox Business, Disney, New York Times, Dominion Voting Systems, Thomson Locations: NRG, Houston , Texas, U.S, Australia, United States, London, New York, Princeton, Illyria, Los Angeles

REUTERS/Amr Alfiky/File Photo Acquire Licensing RightsNEW YORK, Sept 21 (Reuters) - A U.S. judge on Thursday restricted Sam Bankman-Fried's ability to call expert witnesses to testify at his criminal fraud trial, in a blow to the FTX cryptocurrency exchange founder. But in a written order, U.S. District Judge Lewis Kaplan said three proposed witnesses cannot take the stand, because their testimony was irrelevant or could confuse the jury. He also said Bankman-Fried may seek to call the remaining four experts, but only to rebut prosecution witnesses. Among the witnesses Kaplan rejected was Peter Vinella, a consultant who intended to testify about "FTX's use of widely-accepted practices in the financial services industry." It is common in U.S. criminal trials for prosecutors and defendants to call experts to help jurors understand complex issues.

Persons: Sam Bankman, Fried, Amr Alfiky, District Judge Lewis Kaplan, Kaplan, Peter Vinella, Lawrence Akka, Luc Cohen, Daniel Wallis Organizations: United, REUTERS, Alameda Research, District, Prosecutors, Alameda, Thomson Locations: New York City, U.S, Alameda, Bankman, New York

His son, Lachlan Murdoch, will become the sole chairman of News Corp and continue as the chair and CEO of Fox, the companies said on Thursday. The transition solidifies Lachlan's role as the leader of the media empire, putting to rest questions of succession within the Murdoch family. Lachlan was appointed CEO of the new Fox Corp. Murdoch controls News Corp and Fox Corp through a Reno, Nevada-based family trust that holds a roughly a 40% stake in voting shares of each company. The shares in Fox and News Corp owned by Murdoch’s children through the trust are a combination of both classes of shares.

Persons: Rupert Murdoch, Rafael Nadal, Kevin Anderson of, Mike Segar, Lachlan Murdoch, Murdoch, Lachlan, Fox, Brian Wieser, James, Chloe, Grace, Wendi Deng, Jonathan Miller, Sumner Redstone, Ted Turner, John Malone, Miller, Helen Coster, Aditya Soni, Dawn Chmielewski, Krishna Chandra Eluri, Saumyadeb Chakrabarty, Nick Zieminski Organizations: Fox News, Fox Corp, News Corp, Fox, Dominion, Systems, Wall, Walt Disney Co, Lupa Systems, Corp, Thomson Locations: York, U.S, Kevin Anderson of South Africa, Australia, United States, American, Reno , Nevada, London, New York, Bengaluru, Dawn, Los Angeles

☆ Global central banks unite in "higher for longer" credo
▼ + stars: | 2023-09-21 | by ( Mark John | ) www.reuters.com time to read: +6 min

The so-called "higher for longer" mantra is now the official stance of the U.S. Federal Reserve, European Central Bank and the Bank of England, as well as being echoed by monetary policy-makers from Oslo to Tapei. U.S. Federal Reserve policymakers had a similar message on Wednesday. Turkey's central bank confirmed its hawkish turn while in Asia, Taiwan's central bank flagged continued tight policy. Reuters Graphics"TIPPING POINT"Belgian central bank chief and ECB board member Pierre Wunsch - an early voice urging tougher central bank action to counter inflation from end-2021 - said on Thursday that monetary policy was now at the right level. That said, the prospect that global interest rates are pretty close to peak will be of huge relief to emerging economies suffering from heavy debt servicing loads.

Persons: Jerome Powell, Christine Lagarde, Kazuo Ueda, Ann, BoE, Andrew Bailey, Pierre Wunsch, Wunsch, COVID lockdowns, Jerome, Powell, Krishna Guha, Howard Schneider, Balazs Koranyi, Catherine Evans Organizations: European Central Bank, Bank of Japan, Kansas City Federal, REUTERS, U.S . Federal Reserve, Bank of England, U.S . Federal, Swiss National Bank, South African Reserve Bank, People's Bank of, Reuters, ECB, Reuters Global Markets, Economics, Sterling, Swiss, United, Thomson Locations: Jackson Hole , Wyoming, U.S, Central, Oslo, Tapei, Europe, Norway, Sweden, Asia, People's Bank of China, Belgian, United States, Ukraine, Washington, Frankfurt, London, Stockholm, Zurich, Ankara

☆ Analysis-Amid Israel turmoil, markets want continuity at central bank helm
▼ + stars: | 2023-09-21 | by ( Steven Scheer | ) www.reuters.com time to read: +5 min

JERUSALEM (Reuters) - Financial markets are hoping Prime Minister Benjamin Netanyahu keeps Bank of Israel Governor Amir Yaron for a second term to safeguard the bank’s independence and provide reassuring stability to an economy rattled by political turmoil this year. FILE PHOTO: The Bank of Israel building is seen in Jerusalem June 16, 2020. “Therefore, markets and credit rating agencies are reading more into the question of ‘yes’ or ‘no’ to a second term. “Who will be governor is a major concern for investors abroad,” said Leader Capital Markets Chief Economist Jonathan Katz. Israeli media have reported that Netanyahu is considering Efraim Benmelech - a professor of finance at Kellogg School of Management at Northwestern University.

Persons: Benjamin Netanyahu, Amir Yaron, Ronen, Netanyahu, Yaron, Karnit Flug, Fitch, ”, Jonathan Katz, “, ” Katz, Nadine Baudot, Jacob Frenkel, ” Frenkel, Netanyahu’s, Flug, Stanley Fischer, Fischer, Efraim Benmelech, Benmelech, Andrew Abir Organizations: Bank, Israel, Bank of, REUTERS, Netanyahu’s, Wharton School, University of Pennsylvania, Reuters, ”, Capital Markets, Bank of Israel, Israel Democracy Institute, U.S . Federal Reserve, Kellogg School of Management, Northwestern University Locations: JERUSALEM, Bank of Israel, Jerusalem, Israeli, United States, Ukraine, Russia, “ Israel, Israel

A VinFast VF8 electric SUV is displayed during CES 2022 at the Las Vegas Convention Center in Las Vegas, Nevada, U.S. January 5, 2022. If fulfilled, Europe would become VinFast's biggest overseas market this year. The company had shipped about 2,100 EVs earlier this year to the United States. Should the EU probe conclude that punitive duties on China-made EVs are warranted, VinFast could find its cars are more competitively priced. VinFast, which is part of Vietnamese conglomerate Vingroup (VIC.HM), was formed in 2017 and began making EVs in 2021 after dropping its manufacturing of cars with internal combustion engines.

Persons: Steve Marcus, Thuy, Inovev, VinFast, Phuong Nguyen, Francesco Guarascio, Miral Organizations: Las Vegas Convention, REUTERS, Rights, Reuters, European Union, Nasdaq, EU, Thomson Locations: Las Vegas , Nevada, U.S, Rights HANOI, Europe, France, Germany, Netherlands, VinFast's, Vietnam, United States, Israel, China, Indonesia, India, East, Africa, Latin America

☆ Analysis: China's economic woes embolden calls for deeper reforms
▼ + stars: | 2023-09-21 | by ( Kevin Yao | ) www.reuters.com time to read: +6 min

Both camps argue their proposals should be treated with urgency by policymakers, ahead of the annual Central Economic Work Conference, an agenda-setting gathering of top leaders expected in December. The pro-reform camp is beating the drum for faster structural reforms, including relaxing the system of residence permits, or "hukou", to spur consumption, removing market entry barriers for private firms at the cost of state giants. Reforms are urgently needed as growth engines such as property, exports and infrastructure are stalling, he said. Structural reforms with expansionary effects can also have immediate effects." TIGHTROPEDespite the heated debate, analysts expect Chinese leaders can walk a tightrope between stimulus and reforms.

Persons: Tingshu Wang, Yu Yongding, Yu, Kristalina Georgieva, Liu Shijin, Liu, It's, Tao Wang, Deng Xiaoping, Yi Xianrong, Kevin Yao, Sam Holmes Organizations: Central Business, REUTERS, Economic Work Conference, Reuters, International Monetary Fund, Fund, UBS, Asian Development Bank, Qingdao University, Thomson Locations: Beijing, China, BEIJING, China's, United States

The meeting was scheduled for hours after Zelenskiy addressed the United Nations Security Council about Russia's invasion and its consequences. Ukraine has tried to lock in financial support from business leaders to help rebuild the country. A spokesperson for Zelenskiy and Ukraine's mission to the United Nations in New York did not immediately respond to a request for comment. Since the start of the war, Ackman's foundation has donated roughly $24 million to support Ukraine, a person familiar with the numbers said. Before the meeting in New York, the White House appealed to Congress to approve billions of additional dollars of support for Ukraine.

Persons: Ken Griffin, Mike Blake, Volodymyr Zelenskiy, Zelenskiy, JPMorgan Chase, Bill Ackman, Jonathan Gray, Robert Kraft, Henry Kissinger, Eric Schmidt, Mike Bloomberg, Barry Sternlicht, Mary Callahan Erdoes, Vince LaPadula, Whitney Tilson, Griffin, Howard Buffett, Warren, Svea Herbst, Bayliss, Lananh Nguyen, Andrea Shalal, Michelle Nichols, Megan Davies, Grant McCool Organizations: Citadel, Milken, Global Conference, REUTERS, United Nations Security Council, JPMorgan, Blackstone Group, New England Patriots football team, United, State, Google, United Nations, Griffin's Citadel, Ackman's Pershing, Capital Management, Ukraine, Fox News, Svea, Thomson Locations: Beverly Hills , California, U.S, New York, Ukraine, United States

☆ Canada's Trudeau wants India to cooperate in murder probe, declines to release evidence
▼ + stars: | 2023-09-21 | by ( Michelle Nichols | ) www.reuters.com time to read: +3 min

NEW YORK, Sept 21 (Reuters) - Canadian Prime Minister Justin Trudeau on Thursday called on India to cooperate with an investigation into the murder of a Sikh separatist leader in British Columbia and said Canada would not release its evidence. Trudeau said on Monday that Ottawa had credible allegations linking Indian government agents to the murder of Hardeep Singh Nijjar in June, prompting an angry reaction from New Delhi. Analysts says this is partly because the United States and other major players see India as a counterweight to the growing influence of China. The Indian foreign ministry said Canada had not shared any specific information about the murder. India on Thursday suspended new visas for Canadians and asked Ottawa to reduce its diplomatic presence in the country.

Persons: Justin Trudeau, Trudeau, Hardeep Singh Nijjar, Jake Sullivan, Washington, Sullivan, Nijjar, Andrea Shalal, David Ljunggren, Paul Simao, Barbara Lewis Organizations: Canadian, Ottawa, United Nations General Assembly, Thomson Locations: India, British Columbia, Canada, New Delhi, Nijjar, Canadian, United States, China, New York, U.S, Ottawa, Washington

☆ U.S. revives Cold War submarine spy program to counter China
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +21 min

The original network of fixed spy cables, which lie in secret locations on the ocean floor, was designed to spy on Soviet submarines seven decades ago, the three people said. China, meanwhile, is working on its own maritime spy program, known as the Great Underwater Wall, two U.S. Navy sources told Reuters. Sense of urgencyAmerica’s underwater espionage program was launched in the 1950s with a submarine detection system known as the Sound Surveillance System. The U.S. Navy’s Undersea Surveillance System The United States is expanding and upgrading its anti-submarine surveillance capabilities as tensions rise with China. Japan also operates a fleet of three ocean surveillance ships, fitted with U.S. SURTASS cables, the two U.S. Navy sources said.

Persons: Captain Stephany Moore, Richard Seif, Moore, Seif, ”, Tim Hawkins, Mariana Trench, Brent Sadler, We're, Sadler, ” Jon Nelson, Phillip Sawyer, Sawyer, United States –, SOSUS, SubCom, Stephen Askins, Lockheed Martin, Chuck Fralick, Leidos, ” Fralick, Hawkins, Richard Jenkins, Saildrone, Joe Brock, Mohammad Kawoosa, Simon Scarr, Edgar Su, Catherine Tai Design, Eve Watling, Marla Dickerson Organizations: U.S . Navy, Navy, Undersea Surveillance Command, Undersea Surveillance, United, Submarine Force U.S . Pacific Fleet, Reuters, U.S . 5th Fleet, U.S, Pacific, China Academy of Sciences, China’s Ministry of Defense, Foreign, China Naval, U.S . Naval Forces Korea, The Heritage Foundation, Department of Defense, Naval Air Station Whidbey, Processing, Undersea, Undersea Warfare, Naval Postgraduate School, Taiwan, Ships, Titan, Navy’s, CS, U.S . Department of Defense, Lockheed, U.S . State Department, An Australian Defense, Self, Defense Force, Leidos Locations: Seattle, U.S, Whidbey, China, Taiwan, Beijing, United States, Australia, Pacific, South China, Mariana, Yap, Federated States, Micronesia, Guam, Russian, Ukraine, Washington . U.S, Washington, Soviet Union, Washington State, Virginia Beach , Virginia, Monterey , California, Japan, India, States, London, Taiwan Strait, Virginia, San Francisco

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