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☆ The EU's divided approach on China might be coming to an end — and the U.S. is unlikely to be happy about it
▼ + stars: | 2023-04-18 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

Chinese President Xi Jinping met with European Commission President Ursula von der Leyen in early April. Xinhua News Agency | Xinhua News Agency | Getty ImagesEuropean Union officials on Tuesday called for a new and joint approach toward China, following French President Emmanuel Macron's controversial comments on Taiwan earlier this month. This has resulted in a divided approach toward China. watch nowShe contended that the relationship with China "is too important for us not to define our own European strategy and principles." For Europe, the intention is to reduce and avoid risks, rather than a complete disengagement from China.

☆ EU lawmakers call for political attention to powerful AI
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: 1 min

April 17 (Reuters) - Legislators from the European Parliament said on Monday that political attention needed to be focused on powerful artificial intelligence (AI), agreeing with an open letter signed by academics, experts and business leaders including Elon Musk on AI regulation. The EU Parliament called on European Commission President Ursula Von Der Leyen and U.S. President Joe Biden to convene a global summit on AI. Reporting by Akanksha Khushi in Bengaluru; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

The GOP’s plan for a one-year debt limit increase, said McCarthy, would roll back domestic, non-defense spending to 2022 levels. Through his speech, McCarthy urged Wall Street to pressure the Biden administration to accept spending cuts. He also said that he wasn’t monitoring stock market conditions as he headed into debt ceiling negotiations. McCarthy expressed concern over these developments on Monday but said the Republican debt ceiling plan could solve some of those problems. “You can utilize the debt ceiling as the opportunity to do it,” he added.

☆ EU lawmakers call for a new set of rules for A.I. tools such as ChatGPT
▼ + stars: | 2023-04-17 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

A group of a dozen lawmakers for the European Union called for a new set of rules to regulate a larger swath of artificial intelligence tools, beyond those identified as explicitly high risk under the region's proposed AI Act. The letter comes after a group of prominent AI experts called for Europe to make its AI rules more expansive, arguing that excluding general purpose AI, or GPAI, would miss the mark. "We are nevertheless in agreement with the letter's core message: with the rapid evolution of powerful AI, we see the need for significant political attention." They pledged to provide a set of rules within the AI Act framework to steer AI development in a "human-centric, safe, and trustworthy" way. The lawmakers said both democratic and non-democratic countries should be called on "to exercise restraint and responsibility in their pursuit of very powerful artificial intelligence."

April 17 (Reuters) - EU lawmakers urged world leaders on Monday to hold a summit to find ways to control the development of advanced artificial intelligence (AI) systems such as ChatGPT, saying they were developing faster than expected. The 12 MEPs, all working on EU legislation on the technology, called on U.S. President Joe Biden and European Commission President Ursula von der Leyen to convene the meeting, and said AI firms should be more responsible. "We are nevertheless in agreement with the letter's core message: with the rapid evolution of powerful AI, we see the need for significant political action," they added. The letter urged democratic and "non-democratic" countries to reflect on potential systems of governance, and to exercise restraint in their pursuit of very powerful AI. The Biden administration has also been seeking public comments on potential accountability measures for AI systems as questions loom about their impact on national security and education.

As a result, the stakes of the inaugural trip by German Foreign Minister Annalena Baerbock have risen, with many EU members hoping Berlin will use this opportunity to set out a clear and united EU line on China, analysts said. Baerbock must now make Germany's position on Taiwan clear during her visit, German foreign policy parliamentarian Nils Schmid told Reuters, adding Macron's remarks had destroyed a hoped-for impetus for a common European China policy. The foreign minister is due to meet her counterpart Qin Gang and China's top diplomat Wang Yi on the two-day trip. Europe's view of China as partner, competitor and systemic rival is the compass of its policy, she added. "More von der Leyen than Macron should be her guideline," conservative foreign policy lawmaker Johann Wadephul, who will join Baerbock on her trip, told Reuters.

[1/4] Chinese President Xi Jinping and France's President Emmanuel Macron meet at the Guandong province governor's residence, in Guangzhou, China, Friday, April 7, 2023. Macron's comments came in an interview on a trip to China that was meant to showcase European unity on China policy, with European Commission President Ursula von der Leyen also taking part, but highlighted differences within the European Union. A senior diplomat from Central and Eastern Europe, speaking on condition of anonymity, said: "President Macron is not speaking for Europe or the European Union. The French foreign ministry cancelled a planned debrief on the trip for foreign diplomats in Paris on Tuesday as officials scrambled to make sure they had a consistent message and to limit any fallout with Washington. But even some of those broadly supportive of Macron's agenda lamented the handling of the China trip, in which von der Leyen received a much more muted welcome than the French president.

☆ 'Unfinished business': Biden visits Northern Ireland as political tensions persist
▼ + stars: | 2023-04-11 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

He will give a speech in Northern Ireland on Wednesday, before traveling south of the border to the Republic of Ireland, where he will remain until Friday. Northern Ireland is part of the U.K. while the Republic of Ireland is a separate nation state that remains part of the EU. "Whilst it's positive in many ways — particularly on movement of food and medicines between Great Britain and Northern Ireland, it really removes a lot of the frictions — it doesn't deal with all the problems of the Northern Ireland protocol, so I'm afraid it's unfinished business," Villiers told CNBC's Tania Bryer. Clinton became the first sitting U.S. President to visit Northern Ireland and the first to appoint a U.S. special regional envoy. Though Biden is expected to use the trip to promote a return to functioning government in Stormont, his previous support for the Northern Ireland Protocol has drawn criticism from DUP politicians.

SummarySummary Companies China starts three days of drills around TaiwanTaiwan says 71 Chinese planes crossed Taiwan Strait median lineTaiwan says it will respond calmlyChina angered by Taiwan president meeting U.S. House SpeakerAnnouncement comes shortly after French president left ChinaFUZHOU, China/TAIPEI, April 8 (Reuters) - Seventy-one Chinese military aircraft crossed the sensitive median line of the Taiwan Strait on Saturday as China began drills around Taiwan in anger at President Tsai Ing-wen's meeting with the speaker of the U.S. House of Representatives. The People's Liberation Army said it had started the combat readiness patrols and "Joint Sword" exercises around Taiwan, having said earlier it would be holding them in the Taiwan Strait and to the north, south and east of Taiwan "as planned". SITUATION 'AS EXPECTED'There was no broader sense of alarm in Taiwan about the drills, where people are long accustomed to Chinese threats. European Union chief Ursula von der Leyen, also in China this week to meet Xi, said stability in the Taiwan Strait was of paramount importance. The Taiwan security source said China's recent efforts to charm foreign leaders proved in vain after the announcement of the drills.

☆ China announces drills around Taiwan after US Speaker meeting
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +3 min

REUTERS/David Swanson/File PhotoBEIJING, April 8 (Reuters) - China will hold three days of military exercises around Taiwan from Saturday, the People's Liberation Army's Eastern Theatre Command announced, the day after Taiwan President Tsai Ing-wen returned from a trip to the United States. Tsai met U.S. House of Representatives Speaker Kevin McCarthy while in Los Angeles on Wednesday, angering Beijing, which views Taiwan as its own territory. Beijing staged war games around Taiwan, including live fire missile launches, in August after then-House Speaker Nancy Pelosi visited Taipei. Then, China published a map at the same time as its announcement of the drills showing which maritime areas near Taiwan it would be firing into. Xi responded by saying that expecting China to compromise on Taiwan was "wishful thinking", according to China's official reading of the meeting.

China and Russia have declared a "no limits" partnership and Xi has sought to position China as a mediator in the Ukraine conflict. [1/3] Members of Ukrainian special forces engage in zeroing their weapons prior to a mission, amid Russia?s attack on Ukraine, in the region of Bakhmut, Ukraine, April 6, 2023. But Ukrainian border guard Levko Stek, speaking in a video clip amid explosions, said Ukrainian forces did not sense any "ammunition hunger" on the Russian side. Ukrainian military expert Oleksander Musienko said Russian forces were "exhausted and cannot maintain the same pace of attacks" that they launched in February. "The Russian forces are preparing to organise defensive positions.

Noah Barkin, an analyst with the Rhodium Group, said China's chief objective was to prevent Europe from aligning more closely with the United States. Macron travelled to China with European Commission chief Ursula von der Leyen, both pressuring China on Ukraine, but failing to wrest any public shifts in position from Xi. Xi did not mention a possible conversation with Zelenskiy in China's official reports of his comments after the meetings. "Macron seemed to believe he could charm Xi into shifting his approach on the war," he said. "China and Europe can still be partners," said Wang Yiwei, director of Center for European Studies at Renmin University in Beijing.

☆ Kremlin followed EU-China talks, doubts China will change stance
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +1 min

April 7 (Reuters) - The Kremlin said on Friday it had followed "important talks" between Chinese President Xi Jinping, French President Emmanuel Macron and EU Commission chief Ursula von der Leyen, but said it doubted China would change its position on the Ukraine conflict under external pressure. Kremlin spokesman Dmitry Peskov told reporters on Friday that the Kremlin had "monitored" the talks between the EU and China, but underlined that Russia had its own "rich relations" with Beijing. "China is a very serious, very big power with its own sovereign position ... After the talks, Xi expressed willingness to speak to Ukraine's President Volodymyr Zelenskiy directly, according to von der Leyen, while Macron said he had urged Beijing to "bring Russia back to its senses". Reporting by Reuters; editing by Alison Williams and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Ukraine pushes for Western warplane 'coalition'
▼ + stars: | 2023-04-06 | by ( Pavel Polityuk | ) www.reuters.com time to read: +4 min

[1/5] A MiG-29 and F-35 planes are parked on a tarmac during a NATO media event at an airbase in Malbork, Poland, March 21, 2023. During a visit to Warsaw on Wednesday, Zelenskiy said Poland had been instrumental in getting Western allies to send battle tanks to Ukraine and he believed it could play the same role in a "planes coalition". MACRON IN CHINAEuropean Union executive head Ursula von der Leyen and French President Emmanuel Macron are expected to discuss Ukraine during talks with Chinese President Xi Jinping in Beijing on Thursday. The U.S. and NATO have said China is considering sending arms to Russia, which Beijing has denied. 'SHOULDER TO SHOULDER'Polish President Andrzej Duda said Warsaw was working to secure additional security guarantees for Ukraine at a NATO summit to be held in Lithuania in July.

☆ The Kremlin throws cold water on China mediating peace in Ukraine as Macron urges Xi to 'bring Russia to its senses'
▼ + stars: | 2023-04-06 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +4 min

Moscow threw cold water on the potential for China to play the role of mediator in the Ukraine war. This came after Macron urged Xi to push Russia to see reason when it comes to the Ukraine war. Ukrainian President Volodymyr Zelenskyy has invited Xi to visit Ukraine and repeatedly expressed a desire to speak with him. China has claimed that it's neutral in the Ukraine war and unveiled a peace plan in February on the one-year anniversary of Russia's invasion. That said, Xi showed no signs that China would provide Russia with weapons during a recent visit to Moscow.

[1/2] French President Emmanuel Macron delivers a speech to inaugurate the Festival Croisements at the Red Brick Museum in Beijing, China, April 5, 2023. For Macron's visit at least, there are high expectations in Beijing. "In other words, not everyone wants to see Macron's visit to China go smoothly and successfully." Later in the afternoon, Macron and von der Leyen will separately hold talks with President Xi Jinping before all three hold trilateral talks in the evening. "Three-quarters of the delegation are business leaders: the goal is first and foremost to sign contracts," left-wing MEP Raphael Glucksmann wrote on Twitter ahead of Macron's visit.

☆ France’s Macron starts tough talks with China’s Xi Jinping on state visit
▼ + stars: | 2023-04-06 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

Two of Europe's heaviest weights in politics are holding talks with China's President Xi Jinping at a time when the EU-Sino relationship is at a serious crossroads. With President Xi Jinping, we will also talk about our businesses, the climate and biodiversity, and food security," French President Emmanuel Macron said on Twitter, moments before meeting the Chinese leader. This is particularly relevant when EU economic growth is vulnerable to the ongoing war in Ukraine. Spain's Prime Minister Pedro Sanchez met China's President Xi Jinping last week. Europe's top foreign affairs diplomat, Josep Borrell, is also heading to China next week.

TAIPEI/BEIJING, April 6 (Reuters) - Taiwan was keeping a close watch on a Chinese aircraft carrier and threats to inspect ships in the Taiwan Strait on Thursday after Beijing condemned a meeting between Taiwan President Tsai Ing-wen and U.S. House Speaker Kevin McCarthy. The meeting took place at a low ebb of U.S.-China relations and despite threats of retaliation from Beijing, which claims democratically governed Taiwan as its own. In March of last year, the Shandong sailed through the Taiwan Strait, just hours before the Chinese and U.S. presidents were due to talk. However, Taiwan is also concerned about China's announcement late Wednesday that its maritime safety administration is to inspect ships in the Taiwan Strait, including possibly boarding them. Defence Minister Chiu said Taiwan will react if Chinese patrol ships cross the Taiwan Strait's median line, which normally serves as an unofficial barrier between the two sides.

☆ Morning Bid: Markets labor under recession cloud
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +5 min

A look at the day ahead in U.S. and global markets from Mike Dolan. If the tight U.S. labor market is finally unwinding, markets suspect the Federal Reserve's job may well done after all - but at the cost of a looming recession. With Wednesday's private sector jobs reading for March and Friday's national payrolls report ahead, U.S. interest rate markets were jolted again on Tuesday by surprisingly soft data on job vacancies that suggested cooling demand for staff. More decisively, the two-year Treasury yield plunged more than 20 basis points intraday to hover just above 3.8% on Wednesday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ At Least 10,000 Foreign Companies to Be Hit by EU Sustainability Rules
▼ + stars: | 2023-04-05 | by ( Dieter Holger | ) www.wsj.com time to read: +7 min

The estimates exclude foreign companies that are subject to the reporting requirements due to other conditions, such as having an EU bond listing. Foreign companies with EU listings will need to start reporting these disclosures in 2025 if they have more than 500 employees in the EU. Businesses based in the EU that reported under the bloc’s previous sustainability rules must follow the new requirements from 2025. The EU rules call for limited-assurance audits to start, with a goal of eventually moving to reasonable assurance. Other sustainability reporting regulations are also set to go into effect in the next few years.

☆ UK plans streamlined post-Brexit border checks
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] Flags of the Union Jack and European Union are seen ahead of the meeting of European Commission President Ursula von der Leyen and British Prime Minister Boris Johnson, in Brussels, Belgium December 9, 2020. Olivier Hoslet/Pool via REUTERSLONDON, April 5 (Reuters) - Britain has set out plans to simplify and speed up post-Brexit border checks after repeated delays that the government previously blamed on the COVID-19 pandemic and then the war in Ukraine. "The Border Target Operating Model ... sets out a new model for importing goods into the UK from countries inside and outside the EU (the European Union)," the government said in the introduction to the draft proposals. Arrangements for goods moving into Northern Ireland from Great Britain will follow the deal Prime Minister Rishi Sunak struck with the EU in February on post-Brexit trade rules for the region, the government said. It plans to publish the final version by the end of the year after the six-week engagement period.

☆ Ukraine's Zelenskiy heads to Poland to deepen ties with key Western ally
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Kacper PempelKYIV, April 5 (Reuters) - Ukrainian President Volodymyr Zelenskiy is expected shortly in neighbouring Poland, a close ally that has played a big role in galvanising Western military and political support for Kyiv against Russia's full-scale invasion. Poland has taken in more than a million Ukrainian refugees over the past 13 months of war. The NATO member has also played an important role in persuading other Western powers to supply battle tanks and other weaponry to Ukraine. Ukrainian Defence Minister Oleksii Reznikov said on Tuesday that Kyiv was grateful to Poland for clearing the way for deliveries of MiG fighter jets. "During talks with President Zelenskiy, we will certainly discuss Ukrainian grain and various agricultural products, because we want any trade with Ukraine not to destabilise our market," Morawiecki said.

☆ Polish agriculture minister resigns amid anger over Ukrainian grain imports
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

WARSAW, April 5 (Reuters) - Polish Agriculture Minister Henryk Kowalczyk resigned from his post on Wednesday amid rising anger among farmers over the impact of Ukrainian grain imports on prices. Kowalczyk said he decided to quit the position due to the European Commission's decision to extend duty free imports for Ukrainain grain until June 2024. Polish farmers had called for the introduction of tariffs. "As it is clear that this demand will not be met by the European Commission at this point, I decided to resign from the post of agriculture minister," Kowalczk said. The prime ministers of five states including Poland wrote to European Commission President Ursula von der Leyen on Friday to demand action on Ukrainian agricultural imports.

☆ Europe's relationship with China reaches critical juncture after Xi-Putin meeting
▼ + stars: | 2023-04-05 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

European officials are traveling to China in the hope of persuading Beijing to denounce Russia's invasion of Ukraine and cool its recent kinship with the Kremlin. The 27-member bloc walks a tightrope, looking to develop economic ties with China but also reaffirming a close political and cultural relationship with the United States. Spain's Prime Minister Pedro Sanchez met China's President Xi Jinping last week. Europe's top foreign affairs diplomat, Josep Borrell, is heading to China next week. In a visit to Moscow in March, China's leader Xi Jinping referred to his Russian counterpart as a dear friend.

☆ Companies Get Another Year for Some International Sustainability Disclosures
▼ + stars: | 2023-04-04 | by ( Dieter Holger | ) www.wsj.com time to read: +4 min

The International Sustainability Standards Board voted Tuesday to give companies an extra year to disclose sustainability metrics unrelated to climate issues to investors under its soon-to-be-finalized standards. The ISSB is part of the International Financial Reporting Standards Foundation, whose accounting rules are followed in more than 140 countries. The February vote also would have had companies disclose non-climate sustainability metrics as soon as 2025. ISSB staff recommended the one-year delay after companies said reporting all sustainability information at once would be too burdensome. Some ISSB members on Tuesday said a delay would give companies more time to prepare better disclosures and understand investor expectations.

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