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TORONTO, Nov 9 (Reuters Breakingviews) - The U.S. cannabis industry would do well to heed the lessons of Canada’s growing pains. Even as the United States becomes more pot-friendly, however, there’s no guarantee that financial success will follow. Approved cannabis growers destroyed a record quantity of unsold buds last year, the Financial Post reported. Fewer available licenses in the United States also mean barriers to entry are higher. The Canadian government on Sept. 22 announced the launch of the legislative review of the Cannabis Act, which came into force on Oct. 17, 2018.

BEIJING, Nov 4 (Reuters) - German Chancellor Olaf Scholz and a delegation of business leaders landed in Beijing on Friday morning, kicking off the first visit by a leader of a G7 nation to China in three years. China's strict zero-COVID policy and growing tensions with the West have made it unfeasible for leaders of major western powers to visit China, while Chinese President Xi Jinping has only just resumed foreign trips. Amid historic inflation and looming recession in Germany, Scholz will be looking to emphasise the need for continued cooperation with China, analysts say. In the run-up to the visit, there had been criticism of the visit within the EU and the German government coalition, mainly from the Green Party and the Liberals. Scholz has changed his tune even faster, but he does not have as solid of a domestic political standing as Merkel," said Wang.

☆ Former U.S. military pilot arrived in Australia from China weeks before arrest - lawyer
▼ + stars: | 2022-11-04 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

SYDNEY, Nov 4 (Reuters) - A former United States military pilot arrested in Australia and facing likely extradition to the United States on undisclosed charges had arrived from China weeks before and interacted with Australian intelligence agencies, his lawyer said on Friday. Consequently Reuters was unable to determine the specifics of Duggan's case, or why he may have interacted with Australian intelligence. "He denies having breached any U.S. law, any Australian law, any international law," Miralis said outside the court. He said the United States should not make an extradition request to Australia until this complaint was resolved. Under Australia's extradition treaty with the United States, an extradition request must be made within 60 days of arrest.

☆ Germany's dependence on China is 'overblown,' but critical goods diversification needs to improve: EU Chamber of Commerce
▼ + stars: | 2022-11-04 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +3 min

watch nowThe top European business representative in China downplayed concerns over Germany's economic reliance on China as German Chancellor Olaf Scholz makes his maiden in-person visit to Beijing. President of the EU Chamber of Commerce in China Joerg Wuttke told CNBC's "Squawk Box Asia" on Friday that many of Germany's imports from China are replaceable, when asked if the European country had become dependent on China for many of its goods. Experts largely agreed with Wuttke but warned that Germany needed to step up its diversification from with China. and international relations expert from the S. Rajaratnam School of International Studies, largely agreed with Wuttke's comments, given Wuttke's extensive knowledge of Germany's stakes in China. He said Germany must reduce its dependency so that it is neither susceptible to blackmail by Beijing, nor unable to implement sanctions.

☆ Exclusive: Former U.S. military pilot arrested in Australia listed same Beijing address as Chinese hacker
▼ + stars: | 2022-11-04 | by ( Kirsty Needham | ) www.reuters.com time to read: +7 min

The Beijing address is listed in Australian company filings for the pilot and a U.S. blacklisting for the Chinese businessman, however, it was unclear whether they used the Beijing address at the same time. Another aviation source said Duggan went to Beijing to work with Stephen Su, also known as Su Bin in China. When Reuters visited the Beijing address this week the reporter was told it was a residential building and denied entry. Under Australia's extradition treaty with the United States, an extradition request must be made within 60 days of arrest. Robert Anello, the lawyer who represented Su Bin in the 2014 hacking case, declined to comment and Su Bin could not be reached for comment.

☆ EXCLUSIVE Former U.S. military pilot arrested in Australia listed same Beijing address as Chinese hacker -documents
▼ + stars: | 2022-11-04 | by ( Kirsty Needham | ) www.reuters.com time to read: +7 min

The trip comes amid rising voices within Scholz's ruling coalition calling for a rethink of Germany's China policy, and growing public concern about Berlin's commercial reliance on the global economic powerhouse. One in two Germans wish that Germany's economy could be more independent from China, a survey published by ARD broadcaster showed on Thursday. China has been Germany's biggest trading partner for the past six years, with volumes reaching over 245 billion euros ($238.9 billion) in 2021. During the trip, where Scholz will meet Xi and prime minister Li Keqiang, the German Chancellor is expected to discuss Russia's war in Ukraine, hoping that China can convince Russia to end hostilities. But Xi expressed his concerns over Ukraine to Russian President Vladimir Putin when the two leaders met in September.

☆ As North Korea flexes its military muscles, some of South Korea's best submarines may be sidelined
▼ + stars: | 2022-11-03 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

Nine of South Korea's submarines have defects that could sideline them for extended periods. The issue comes to light as North Korea launches scores of missiles in shows of force to its neighbors. South Korea's sub woes come as North Korea continues to issue threats over joint US-South Korean military exercises that Pyongyang claims are a rehearsal for an invasion. Aircraft in particular would be key to destroying North Korean nuclear sites, artillery emplacements, and even decapitation strikes against the North's leaders. Superior US and South Korean naval capabilities — perhaps assisted by Japanese forces — allow for amphibious landings, special-forces raids, blockades, and shore bombardment.

HONG KONG, Nov 1 (Reuters Breakingviews) - Hong Kong’s third-quarter GDP plunged 4.5% from a year earlier as consumers and companies slashed spending. The government is trying to rally enthusiasm for its finance sector - as signaled by the flagship Fintech Week and Global Financial Leaders Investment Summit events happening this week. Beijing's commitment to stamping out Covid-19 infections on the mainland has halted vital flows of tourists and business people to Hong Kong. Moreover, Hong Kong's currency peg to the U.S. dollar means it must follow the U.S. Federal Reserve's rate hikes even though its inflation rate is less than half that in the United States. "Looking ahead, the markedly deteriorating external environment will continue to pose immense pressure on Hong Kong's export performance in the remainder of the year," the city government said.

☆ Democrat Wes Moore faces off against Trump-backed Republican state Del. Dan Cox in Maryland's gubernatorial election
▼ + stars: | 2022-10-31 | by ( Hanna Kang | ) www.businessinsider.com time to read: +3 min

Democrat Wes Moore is running against Republican Dan Cox in Maryland's gubernatorial race. Maryland's gubernatorial candidatesMoore is a combat veteran in the US Army and a small business owner. Born and raised in Maryland, Cox served for over 15 years as a constitutional attorney and was previously the Republican nominee for Congress for Maryland's 8th Congressional District. Larry Hogan, who endorsed — to no avail — former Maryland Commerce Secretary Kelly M. Schulz in the Republican gubernatorial primary. The money raceAccording to filings with Maryland's secretary of state, Moore has raised $2.7 million, spent $1.4 million, and has $1.3 million of cash on hand, as of late August.

☆ Western leaders rushed to recognise Bolsonaro's defeat in Brazil to head off any Trump-like attempt to stay in power, experts say
▼ + stars: | 2022-10-31 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

World leaders swiftly backed Brazil's president-elect on his election victory over Jair Bolsonaro. Analysts say the move was likely meant to counter any attempt by Bolsonaro to undermine the vote. Analysts said the rush to congratulate da Silva was likely part of a coordinated campaign to head off attempts by Bolsonaro to question the election. For months, Bolsonaro has pushed baseless claims that the election, which many observers expected him to lose, was tainted by fraud. Bolsonaro's allies so far seem to have accepted the result, in which da Silva was declared the winner with 50.9% of the vote, The New York Times reported.

☆ As U.N. mulls sending troops to Haiti, a gang's rise shows how hard that would be
▼ + stars: | 2022-10-29 | by ( Brian Ellsworth | ) www.reuters.com time to read: +8 min

Petithomme goes by the alias Ti Makak, and leads a gang of the same name. Haiti's National Police did not respond to requests for comment on the police commissary incident or about Ti Makak in general. Local media reported that Ti Makak was responsible. But the calls continued, he said, and a group later arrived in person, saying they were linked to Ti Makak. "We can easily conclude that the Ti Makak band seeks to win the hearts of the people, particularly of those people who have been involved in acts of looting during recent protests," Germain said.

☆ Five centuries on, Milan still echoes with the genius of queer icon Leonardo da Vinci
▼ + stars: | 2022-10-28 | by ( Dan Allen | ) www.nbcnews.com time to read: +10 min

Since his death more than 500 years ago, multihyphenate genius Leonardo da Vinci and his spectacular works have inspired respect and wonder in generation after generation the world over. “Likewise in painting, I can do everything possible as well as any other, whosoever he may be,” da Vinci offered, not incorrectly. Today, his engineering genius and the advancements it inspired are showcased at Milan’s Museo Nazionale Scienza e Tecnologia Leonardo da Vinci, the largest science museum in Italy. The museum’s Leonardo da Vinci Galleries, reimagined for the 2019 celebrations, use more than 170 historical models, artworks, codexes and installations to bring the artist’s story to life. Leonardo da Vinci's "The Last Supper" in the Santa Maria delle Grazie in Milan.

HONG KONG, Oct 19 (Reuters Breakingviews) - Solving Hong Kong's brain drain problem need not be complicated. Leader John Lee hopes lower property taxes and a new visa scheme will persuade foreign talent not to move to destinations like Singapore. As a result, Hong Kong's mid-year population dipped 1.6% to 7.29 million - the steepest year-on-year drop on record. Non-residents are also eligible to apply for a refund of the extra stamp duty paid for buying property in Hong Kong once they become a permanent resident. Lee may be ignoring them, but the main policy solutions are staring him in the face.

But the theme of the event is continuity — of President Xi Jinping as leader, and with that the likelihood of friction with the U.S.-led West. Xi, China’s most powerful leader in decades, is poised to secure an unprecedented third term at this week’s twice-a-decade National Congress of the Chinese Communist Party in Beijing. “Those achievements have certainly strengthened the president’s leadership.”Under Xi, China’s gross domestic product has more than doubled to $17.7 trillion. Born in Beijing in 1953, Xi enjoyed a privileged youth as the second son of Xi Zhongxun, a Chinese communist revolutionary. “The long-term goals of President Xi, as well as general attitudes in the West, will make it very difficult for us to have more cooperation during his third term,” she said.

☆ Factbox: Key Xi quotes at China's 20th Communist Party Congress
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +6 min

Chinese President Xi Jinping speaks during the opening ceremony of the 20th National Congress of the Communist Party of China, at the Great Hall of the People in Beijing, China October 16, 2022. Register now for FREE unlimited access to Reuters.com Register"We persist in striving for the prospect of peaceful reunification with the greatest sincerity. "Corruption is the biggest cancer that harms the vitality and combat effectiveness of the party, and anti-corruption is the most thorough self-revolution. FOREIGN POLICY"We have comprehensively promoted major-country diplomacy with Chinese characteristics ... and unswervingly opposed any unilateralism, protectionism and bullying. POPULATION"We will establish a policy system to boost birth rates and pursue a proactive national strategy in response to population ageing."

"Given the economic and social strain caused by sticking to an increasingly unpopular COVID zero policy, Xi's speech might sound defensive to many Chinese citizens, insisting that the Party has their best interests in mind. ALFRED WU, ASSOCIATE PROFESSOR, LEE KUAN YEW SCHOOL OF PUBLIC POLICY, NATIONAL UNIVERSITY OF SINGAPORE"It is obvious that security is Xi's greatest concern. ZHIWU CHEN, PROFESSOR OF FINANCE, UNIVERSITY OF HONG KONG"One significant change is to de-emphasise economic development and economic reform. BATES GILL, PROFESSOR, DEPARTMENT OF SECURITY STUDIES AND CRIMINOLOGY, MACQUARIE UNIVERSITY, SYDNEY"This speech said 'continuity' and full speed ahead. "But this was not intended as a policy speech.

☆ China is no longer just any emerging market — it has become its own beast
▼ + stars: | 2022-10-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Analysts note longer-term trends of China's reduced dependency on foreign investment and intellectual property. Kevin Frayer | Getty Images News | Getty ImagesBEIJING — China is no longer just another emerging market play. Analysts note longer-term trends of China's reduced dependency on foreign investment and intellectual property. So far, she said, the number of clients excluding China isn't "overwhelming," and by metrics such as per capita GDP the country remains an emerging market. An internal party committee, or office, gathers together a company's employees who are members of the Communist Party of China.

HONG KONG, Oct 11 (Reuters Breakingviews) - Washington's sweeping technology curbs on China today will have ripple effects across global supply chains tomorrow. But the ban may prompt Chinese chipmakers to hasten their progress in the commoditised parts of the market, embedding firms like Semiconductor Manufacturing International (0981.HK) in global supply chains. The measures mark a huge escalation in President Joe Biden's efforts to hobble Beijing's chip advances. Essentially, any company that uses American equipment will be restricted from selling relatively high-tech semiconductors or tools to Chinese firms. And because nearly every factory relies on crucial hardware and software from U.S. suppliers like Lam Research (LRCX.O) and Applied Materials (AMAT.O), the latest move potentially sets back Chinese chipmakers by years, if not decades.

HONG KONG, Oct 7 (Reuters Breakingviews) - Too much cash can be a problem sometimes, especially in South Korea. Samsung Electronics (005930.KS), meanwhile, may find that deploying its $77 billion war chest is getting trickier. The company estimates third-quarter operating profit at 10.8 trillion won ($7.7 billion), down 32% from a year earlier and below analysts’ expectations. Prices for so-called DRAM and NAND memory chips, a highly cyclical sector that's Samsung's biggest profit driver, have yet to bottom out. CONTEXT NEWSSouth Korea's Samsung Electronics on Oct. 7 announced earnings guidance for the third quarter of 2022.

☆ Women and girls are leading Iran protests, but others are joining from across society
▼ + stars: | 2022-10-05 | by ( Hyder Abbasi | ) www.nbcnews.com time to read: +3 min

But the protests that have engulfed the nation for weeks are also attracting support from across society as they evolve into a sustained anti-government movement. While women and girls continue to be the driving force behind the protests, male students, soccer stars and striking workers have added to this show of opposition. “These are not pockets of protests,” said Anoush Ehteshami, a professor in international relations at Durham University in England. via AFP - Getty ImagesThere were student-led protests in the cities of Tehran, Tabriz and Shiraz, according to video on social media. Also Saturday, shops and businesses were closed in 20 cities in strike action in Kurdistan province, in northwestern Iran, according to the human rights organization Hengaw.

☆ India’s words are anti-war, but New Delhi’s actions are propping up Putin’s regime
▼ + stars: | 2022-10-03 | by ( Rhea Mogul | ) edition.cnn.com time to read: +8 min

New Delhi has repeatedly abstained from votes condemning Russia at the United Nations – providing Moscow with a veneer of international legitimacy. And in August, India participated in Russia’s large-scale Vostok military exercises alongside China, Belarus, Mongolia and Tajikistan – where Moscow paraded its vast arsenal. “There’s a feeling that Putin is pushing India’s limits because in some ways, it’s put itself out on a limb. Mikhail Svetlov/Getty ImagesSuperficially at least, India and China also appear to have similar positions on the Ukraine war. But despite India’s increasing closeness with the West, it is prioritizing the dangers in its own backyard, analysts say.

☆ Finland will shut border to Russian tourists from midnight
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +1 min

HELSINKI, Sept 29 (Reuters) - Finland will close its border to Russian tourists from midnight local time (2100 GMT), which is expected to lead to a significant drop in cross-border traffic, the government said on Thursday. The inflow of Russians is now seen as endangering Finland's international relations, Foreign Minister Pekka Haavisto told a news conference. Entry for family visits, as well as for work and studies, will still be permitted, he added. The Finnish government, wary of being a transit nation into western Europe's passport-free Schengen zone, on Friday said it planned to halt tourism from Russia and that a decision would be finalised in the days that followed. Register now for FREE unlimited access to Reuters.com RegisterReporting by Anne Kauranen, writing by Terje Solsvik, editing by Gwladys FoucheOur Standards: The Thomson Reuters Trust Principles.

India's foreign minister followed up last week at the U.N. Security Council, describing the trajectory of the Ukraine war as "very concerning" and the risk of a nuclear escalation as of "particular anxiety". Moreover, India is worried the war is pushing Russia closer to China, which has fraught relations with New Delhi, the analysts said. "This is countering a narrative that India and China are both doing the same thing – that China is supporting Russia and India, by sitting on the fence, is also supporting Russia," Raghavan told Reuters. India and Russia have had deep relations for decades: Russia accounted for $5.51 billion of the $12.4 billion that India spent between 2018 and 2021 on arms imports. "As the Ukraine conflict continues to rage, we are often asked whose side are we on," he said, again without mentioning Russia.

☆ How Bryan Lourd became one of the most powerful people in the history of Hollywood
▼ + stars: | 2022-09-25 | by ( Alex Sherman | ) www.cnbc.com time to read: +18 min

Lourd, 61, isn't a household name, but he wields a stunning amount of influence in Hollywood. Lourd's Hollywood clients aren't just A-listers, they're A+-listers: Brad Pitt. An old-fashioned talent agent who loves discussing old movies and doesn't mind pointing out the flaws in his own clients' work, Lourd has become arguably the most powerful person in Hollywood. "He's one of the most powerful people in the history of Hollywood," said Netflix co-CEO Ted Sarandos. But Lourd's clients are such bankable stars that it's equally important for Hollywood executives to be friendly with him as it is beneficial for Lourd and CAA.

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