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☆ Trump vows to kill Asia trade deal being pursued by Biden if elected
▼ + stars: | 2023-11-19 | by ( Nathan Layne | ) www.reuters.com time to read: +2 min

Speaking to supporters in Iowa, Trump said he was against the regional trade deal being negotiated by the Biden administration with 13 other countries, arguing that it would hollow out U.S. manufacturing and trigger job losses. Trump, who withdrew from the Trans-Pacific Partnership (TPP) trade deal that had been forged with many of the same countries after taking office in January 2017, said he would "knock out" what he referred to as "TPP Two" immediately upon taking office. The Biden administration had hoped to finish key chapters of its IPEF trade initiative in time for this week's Asia-Pacific Economic Cooperation (APEC) meeting. It has vowed to continue negotiating the ambitious deal, but election-year pressures and resistance to tough commitments from some countries make a deal unlikely, trade experts and business groups say. Reporting by Nathan Layne in Fort Dodge, Iowa; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Donald Trump, Shannon Stapleton, Joe Biden, Trump, Biden, Nathan Layne, Chizu Organizations: U.S, Trump Organization, Court, REUTERS, Republican, Economic, Pacific, Economic Cooperation, Thomson Locations: New York, Manhattan, New York City, U.S, DODGE , Iowa, Pacific, Iowa, Vietnam, Indonesia, Fort Dodge, Des Moines, Asia, Fort Dodge , Iowa

☆ Harris tells CNN that she and Biden will ‘have to earn our reelect’ as president struggles with younger and Black voters
▼ + stars: | 2023-11-19 | by ( Edward-Isaac Dovere | ) edition.cnn.com time to read: +16 min

Vice President Kamala Harris, confronted with those same polls, is much less dismissive. Overall, Biden and Harris hold similar approval ratings, but Harris’ ratings among these key subgroups have varied, suggesting views of the vice president are not as deeply entrenched. Austin Davis, a 34-year-old African American in one of the target demographics the Biden campaign is desperate to improve with, in a state the president needs to carry. “I think we’d be having a way different conversation if it were two White males as president and vice president,” Henson said. “President Biden is wise, knowledgeable, tested – she’s passionate and seasoned,” said Tucson Mayor Regina Romero, who just won a second term in the second largest city in battleground Arizona.

Persons: Joe Biden, Donald Trump, Kamala Harris, “ We’re, ”, Biden, Harris, Harris’s, ‘, Jim Clyburn, Austin Davis, Lavora Barnes, Trump, – “, Mike, –, TikTok influencers, I’ve, ” Harris, Louis, Donna Brazile, “, it’s, gettable, ’ ”, Rozia Henson, ” Henson, Roy Cooper, Dobbs, Cooper, Harris “, ” Quentin Fulks, ” Fulks, Harris ’, she’s, wasn’t, Daniele Monroe, Moreno, Monroe, Kamala, ” Monroe, White, Tucson Mayor Regina Romero Organizations: CNN, Air Force, Democratic, New York Times, The Times, Biden, Wing, slivers, “, South Carolina Rep, Gov, Democratic Party, West Wing, ”, Democratic National Committee, Black, Democratic women’s, –, Trump, ” North Carolina Gov, Republicans, South, White, APEC, state’s Democratic Party, Irish, College of Southern, Tucson Mayor Locations: South Carolina, Siena, Wilmington , Delaware, Pennsylvania, Michigan, Ukraine, Israel, St, Virginia, ”, Raleigh, “, Washington, Gaza, Nevada, Scranton, United States, College of Southern Nevada, Arizona, America

☆ Poll: Biden’s standing hits new lows amid Israel-Hamas war
▼ + stars: | 2023-11-19 | by ( Mark Murray | ) www.cnbc.com time to read: +3 min

"Failed promises, student loans, foreign policy in general," said Democrat Zico Schell, 23, of San Diego, when asked why he disapproves of Biden's job performance. "This poll is a stunner, and it's stunning because of the impact the Israel-Hamas war is having on Biden," he said. According to the poll, 40% of registered voters approve of Biden's job performance, while 57% disapprove, representing Biden's all-time low in approval (and all-time high in disapproval) in the poll since becoming president. It's only a slight overall change from September, when Biden's approval rating was at 41% — which was then tied with his previous low in the poll. Biden's approval rating dropped to 31% among these voters.

Persons: Joe Biden, Xi Jinping, Brendan SMIALOWSKI, BRENDAN SMIALOWSKI, Joe Biden's, What's, Biden, Donald Trump, Israel, Meg Furey, Zico Schell, Jeff Horwitt, Bill McInturff, McInturff, Horwitt, It's Organizations: Economic Cooperation, APEC, Getty Images, —, NBC News, Biden, Democratic, Hart Research Associates, Republican Locations: Asia, Woodside , California, California, AFP, Israel, Gaza, Austin , Texas, San Diego, Biden's

☆ Former OpenAI CEO Sam Altman returns to headquarters for talks following his abrupt ouster
▼ + stars: | 2023-11-19 | by ( Hayden Field | ) www.cnbc.com time to read: +1 min

Sam Altman, CEO of OpenAI participates in the "Charting the Path Forward: The Future of Artificial Intelligence" at the Asia-Pacific Economic Cooperation (APEC) Leaders' Week in San Francisco, California, on November 16, 2023. Sam Altman, the recently ousted CEO of OpenAI, arrived as a guest Sunday at the headquarters of the company he founded. Altman posted a photo of himself on X, formerly Twitter, wearing an OpenAI visitor badge, writing, "first and last time i ever wear one of these." Jason Kwon, OpenAI's chief strategy officer, also posted a photo of Sam with the badge. Microsoft , Sequoia Capital, Tiger Global and venture firm Thrive Capital are part of an effort to reinstate Altman or have been in discussions with him, sources familiar told CNBC.

Persons: Sam Altman, Altman, Jason Kwon, Sam, Brad Lightcap, Lightcap, Greg Brockman, — CNBC's Rohan Goswami, Jordan Novet Organizations: Economic Cooperation, APEC, OpenAI, Microsoft, Sequoia Capital, Tiger Global, CNBC Locations: Asia, San Francisco , California

Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. "Sam and OpenAI were the catalyst that showed the world what AI tech is capable of," Jannsen said. Silicon Valley's high-profile startup CEO firings typically involve wrongdoing, rather than just philosophical differences about where the company is headed. "Sam Altman is a hero of mine," former Google CEO and investor Eric Schmidt said in an X post. — CNBC's Lora Kolodny contributed to this report WATCH: OpenAI says Sam Altman exiting as CEO because 'board no longer has confidence.'

Persons: Sam Altman, Carlos Barria, OpenAI, Steve Jobs, Altman, —, Jobs, U.S . Altman, Mark Zuckerberg, Jeff Bezos, Elon Musk, Greg Brockman, Brockman, Ron Conway, Greg, Brian Chesky, Matt Schlicht, Schlicht, Sam, Ryan Jannsen, Jannsen, Patrick Moorhead, They're, Moorhead, Josh Wolfe, Wolfe, he'd, Eric Schmidt, Tom Williams, Airbnb's Chesky, what's, Chesky, Satya Nadella, Zachary Lipton, Carnegie Mellon's Lipton, Lipton, — CNBC's Lora Kolodny Organizations: Economic Cooperation, Reuters, ChatGPT, Apple, U.S ., Amazon, Tesla, Microsoft, Tiger, Sequoia Capital, CNBC, Google, Lux Capital, Cq, Inc, Getty, Carnegie Mellon University, Industry Locations: Asia, San Francisco , California, U.S, Silicon Valley, OpenAI, what's, —

☆ APEC over, Taiwan reports renewed Chinese military activity
▼ + stars: | 2023-11-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTAIPEI, Nov 19 (Reuters) - Taiwan reported renewed Chinese military activity around the island on Sunday, with nine aircraft crossing the sensitive median line of the Taiwan Strait and warships carrying out "combat readiness patrols". Democratically-governed Taiwan, which China claims as its own territory, has complained for the past four years of regular Chinese military patrols and drills near the island, as Beijing seeks to pressure Taipei over its sovereignty claims. With Chinese President Xi Jinping in San Francisco last week for the Asia Pacific Economic Cooperation (APEC) summit, where he met U.S. President Joe Biden, the scale of that military activity around Taiwan had scaled off. The aircraft were accompanying Chinese warships carrying out "joint combat readiness patrols" it added. China says its activities near Taiwan are aimed at "collusion" between Taiwan separatists and the United States and to protect China's territorial integrity.

Persons: Dado Ruvic, Xi Jinping, Joe Biden, Su, Xi, Biden, Ben Blanchard, William Mallard, Kim Coghill Organizations: REUTERS, Rights, Asia Pacific Economic Cooperation, U.S, Taiwan, Biden, Thomson Locations: Rights TAIPEI, Taiwan, Taiwan Strait, China, Beijing, Taipei, San Francisco, United States, U.S

A day after meeting with Chinese leader Xi Jinping, President Biden said during a speech at the APEC CEO Summit that the U.S. is “de-risking and diversifying” its economic relationship with China, but “not decoupling.” Photo: Kevin Lamarque/ReutersSAN FRANCISCO—During a much-anticipated summit this week with Chinese President Xi Jinping aimed at resetting relations between the two powers, President Biden took a briefing from Jake Sullivan, his national security adviser, on a completely different topic: the swelling conflict in the Middle East. Israel’s fight against Hamas, a war in Ukraine that is slipping toward a stalemate and a tenuous detente with China are all competing for the president’s time with less than a year until the 2024 election. As Biden campaigns for a second term, the overlapping crises are complicating his bid to persuade U.S. voters he is focused on the domestic issues they care about most.

Persons: Xi Jinping, Biden, Kevin Lamarque, Jake Sullivan, Israel’s Organizations: APEC, Summit, Reuters, FRANCISCO, Hamas, U.S Locations: China, Ukraine

☆ Joe Biden Turns 81 Years Old
▼ + stars: | 2023-11-18 | by ( The Editorial Board | ) www.wsj.com time to read: +1 min

President Joe Biden during an Asia-Pacific Economic Cooperation (APEC) leaders retreat, San Francisco, Nov. 17. Photo: David Paul Morris/Bloomberg NewsIf President Biden’s birthday Monday is anything like his last one, he’ll eat a cake quietly with family and hope nobody else notices. Mr. Biden’s granddaughter was wed on the South Lawn. Regardless, voters have managed to notice that Mr. Biden is showing his years. And who says Mr. Biden hasn’t united the country?

Persons: Joe Biden, David Paul Morris, Biden’s, Biden, Biden hasn’t, muttered sotto Organizations: Economic Cooperation, Bloomberg, CNN Locations: Asia, San Francisco

☆ In ousting CEO Sam Altman, ChatGPT loses its best fundraiser
▼ + stars: | 2023-11-18 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +4 min

OpenAI CEO Sam Altman testifies before a Senate Judiciary Privacy, Technology & the Law Subcommittee hearing titled 'Oversight of A.I. But on Friday it was the earnest Altman who was upended after OpenAI’s board, in a surprise move, stripped him of his CEO title and directorship. Directors of the company, now worth about $80 billion, cited a failure to be "consistently candid in his communications." Further details of what finally led to the ouster of Altman were not immediately clear Friday. “You and a small group of rebels get the space to solve an important problem that might otherwise not get solved."

Persons: Sam Altman, Elizabeth Frantz, Sam Altman’s, Altman, Elon Musk’s, “, what’s, ” Altman, Satya Nadella, OpenAI, ”, Greg Bensinger, Diane Craft Organizations: Privacy, Technology, Intelligence, REUTERS, Microsoft, Wednesday, Google, Stanford, Thomson Locations: Washington , U.S, OpenAI, San Francisco, St, Louis , Missouri

Nov 17 (Reuters) - The board of the company behind ChatGPT late on Friday fired OpenAI CEO Sam Altman - to many, the human face of generative AI - sending shock waves across the tech industry. Backed by billions of dollars from Microsoft (MSFT.O), OpenAI kicked off the generative AI craze last November by releasing its ChatGPT chatbot, which became one of the world's fastest-growing software applications. He was the face of OpenAI and the wildly popular generative AI technology as he toured the world this year. Altman posted on X shortly after OpenAI published its blog: "i loved my time at openai. "That said, we believe Microsoft and Nadella will exert more control at OpenAI going forward with Altman gone."

Persons: Sam Altman, Mira Murati, OpenAI, Altman, what’s, Murati, Tesla, Satya Nadella, Mira, Nadella, Eric Schmidt, Daniel Ives, Thomas Hayes, Davidson, Gil Luria, Samrhitha, Jeffrey Dastin, Anna Tong, Krystal Hu, Shounak Dasgupta, Kenneth Li, Richard Chang Organizations: Microsoft, Union, U.S, Reuters, OpenAI, Wedbush Securities, Economic Cooperation, Thomson Locations: openai, Asia, San Francisco, Oakland , California, Bengaluru, New York

☆ Factbox-APEC's 'San Francisco Principles' on Sustainability, Inclusiveness
▼ + stars: | 2023-11-18 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

SAN FRANCISCO (Reuters) - The Asia Pacific Economic Cooperation members on Friday adopted new trade and investment principles that seek to boost environmental sustainability and social well-being after China dropped its objections to the U.S. proposal. The so-called "San Francisco Principles on Integrating Inclusivity and Sustainability into Trade and Investment Policy" are aimed at considering "economic, social and environmental dimensions in a balanced way" in APEC members' policies. -- Strengthening data collection and research on trade and investment policies to monitor economic, environmental and social impacts. But the final language in the San Francisco Principles accounts for differences among the 21 diverse APEC economies that include China, the U.S. and Brunei. "Measures should consider economic, social and environmental dimensions in a balanced way, in line with economies' circumstances, and should not exacerbate inequalities."

Persons: David Lawder, Chizu Nomiyama Organizations: FRANCISCO, Reuters, Asia, Economic Cooperation, Trade, Investment, APEC, San Francisco Locations: China, U.S, Francisco, San Francisco, Brunei

Japan's Prime Minister Fumio Kishida and South Korea's President Yoon Suk Yeol along with moderator and former U.S. Secretary of State Condoleezza Rice attend a summit discussion, on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, at the Stanford, California, U.S., November 17, 2023. REUTERS/Brittany... Acquire Licensing Rights Read morePALO ALTO, California, Nov 17 (Reuters) - South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida pledged cooperation on clean-energy supply chains, quantum computing and other innovative technology during a Silicon Valley roundtable on Friday. Yoon and Kim met one on one and together with Biden on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, which ended on Friday. In addition to military and economic cooperation, Yoon and Kishida on Friday signaled work on science and technology would be a central to their relationship-building. "But for President Yoon and myself, this is the Big Game," Kishida said.

Persons: Fumio Kishida, Yoon Suk, State Condoleezza Rice, PALO, Yoon Suk Yeol, Yoon, David, Joe Biden, Kim, Biden, Kishida, lecterns, Ann Saphir, William Mallard Organizations: Japan's, U.S, State, Economic Cooperation, Stanford, REUTERS, San Francisco Bay Area, University of California, Thomson Locations: Asia, California, U.S, Brittany, PALO ALTO , California, San Francisco, China, North Korea, Washington, Korean, South Korea, San Francisco Bay, Berkeley

☆ Exclusive: IMF chief says Biden-Xi engagement an important signal for world to cooperate
▼ + stars: | 2023-11-18 | by ( David Lawder | ) www.reuters.com time to read: +4 min

The Biden-Xi meeting is "important at a time when geo-economic fragmentation has indeed deepened with negative consequences for the prospects for accelerating growth," Georgieva said. U.S.-China engagement also will be an important factor on negotiations over World Trade Organization reform, including restoration of its dispute settlement system. "We are already seeing the impact of antisemitism and Islamophobia, raising their ugly heads all over the world. IMF SHAREHOLDING REFORMSU.S. Treasury Secretary Janet Yellen said during meetings last week with her Chinese counterpart that a key outcome of U.S.-China economic engagement was Beijing's support for a 50% increase in IMF quota-based resources, without an immediate rise in shareholding for China. Georgieva said it was important for the IMF to start quickly on revamping its shareholding formula to boost the representation of fast-growing developing economies: "The world needs an IMF that is financially strong, and that is also legitimate."

Persons: Joe Biden, Kristalina, Dina Boluarte, Loren Elliott, Kristalina Georgieva, Xi Jinping, Georgieva, Biden, Xi, Janet Yellen, David Lawder, Chris Reese, Tom Hogue Organizations: International Monetary Fund, Economic Cooperation, REUTERS, FRANCISCO, Monetary Fund, Reuters, Biden, U.S ., APEC, U.S, World Trade Organization, United, Hamas, IMF, Treasury, Thomson Locations: Asia, San Francisco , California, U.S, China, United Arab Emirates, GAZA, Gaza, Egypt, Lebanon, Jordan, Israel

☆ APEC's 'San Francisco Principles' on sustainability, inclusiveness
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +2 min

The so-called "San Francisco Principles on Integrating Inclusivity and Sustainability into Trade and Investment Policy" are aimed at considering "economic, social and environmental dimensions in a balanced way" in APEC members' policies. -- Strengthening data collection and research on trade and investment policies to monitor economic, environmental and social impacts. But the final language in the San Francisco Principles accounts for differences among the 21 diverse APEC economies that include China, the U.S. and Brunei. "Measures should consider economic, social and environmental dimensions in a balanced way, in line with economies' circumstances, and should not exacerbate inequalities." Reporting by David Lawder; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Yoon Suk, Fumio Kishida, Joko Widodo, Lee Hsien Loong, Vo Van, Bongbong Marcos, David Lawder, Chizu Organizations: South, Japan's, FRANCISCO, Asia, Economic Cooperation, Trade, Investment, APEC, San Francisco, Thomson Locations: Singapore, Vietnam, Vo Van Thuong, Philippines, China, U.S, Francisco, San Francisco, Brunei

☆ Who's on the OpenAI board — the group behind Sam Altman's ouster
▼ + stars: | 2023-11-18 | by ( Hayden Field | ) www.cnbc.com time to read: +6 min

On Friday, the board of OpenAI, the buzzy AI company behind viral chatbot ChatGPT, suddenly and publicly ousted its CEO Sam Altman. OpenAI's board said it conducted "a deliberative review process" and that Altman "was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities." She is an adjunct senior management scientist at Rand Corporation and has been on the OpenAI board since 2018. "While our partnership with Microsoft includes a multibillion-dollar investment, OpenAI remains an entirely independent company governed by the OpenAI Nonprofit," OpenAI has publicly stated. On that day, Altman told Nadella, "I think we have the best partnership in tech and I'm excited for us to build AGI together."

Persons: Sam Altman, Altman, OpenAI, Greg Brockman, Ilya Sutskever, Adam D'Angelo, Tasha McCauley, Helen Toner, Reid Hoffman, Neuralink, Zilis, Will Hurd, Brockman, Sam, Sutskever, he's, D'Angelo, McCauley, Toner, Andreessen Horowitz, AGI, weren't, Mira Murati, OpenAI's Dev, Satya Nadella, Nadella, Dev, Brad Lightcap Organizations: Thursday's APEC, Summit, Google, Facebook, OpenAI, GeoSim Systems, Rand Corporation, University of Oxford's Center, Georgetown's Center for Security, Emerging Technology, Sequoia Capital, Microsoft, CNBC, Fortune Locations: Texas, OpenAI

Taiwan's APEC envoy Morris Chang attends a press conference during the APEC (Asia-Pacific Economic Cooperation) Summit in San Francisco, California, U.S. November 17, 2023. REUTERS/Carlos Barria Acquire Licensing RightsSAN FRANCISCO, Nov 17 (Reuters) - Taiwan's APEC envoy Morris Chang said on Friday that he had informal interactions with U.S. President Joe Biden and discussions with Secretary of State Antony Blinken at a summit in San Francisco, but none with Chinese President Xi Jinping. The White House has not elaborated on those conditions, but Biden asked Xi to respect Taiwan's presidential election process next year, according to a U.S. official. Taiwan's envoy Chang said he supported those U.S. export controls on China. Reporting by Michael Martina in San Francisco and Ben Blanchard in Taipei; Editing by Chris Reese, Kim Coghill and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Morris Chang, Carlos Barria, Joe Biden, Antony Blinken, Xi Jinping, Chang, Kamala Harris, Xi, Biden, Blinken, Fumio Kishida, Wang Wentao, Michael Martina, Ben Blanchard, Chris Reese, Kim Coghill, Tom Hogue Organizations: APEC, Economic Cooperation, REUTERS, FRANCISCO, U.S, Japanese, Biden, China's, Thomson Locations: Asia, San Francisco , California, U.S, San Francisco, Taiwan, Taipei, Beijing, Thailand, China, United States, Washington

☆ APEC Over, Taiwan Reports Renewed Chinese Military Activity
▼ + stars: | 2023-11-18 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

TAIPEI (Reuters) - Taiwan reported renewed Chinese military activity around the island on Sunday, with nine aircraft crossing the sensitive median line of the Taiwan Strait and warships carrying out "combat readiness patrols". Democratically-governed Taiwan, which China claims as its own territory, has complained for the past four years of regular Chinese military patrols and drills near the island, as Beijing seeks to pressure Taipei over its sovereignty claims. With Chinese President Xi Jinping in San Francisco last week for the Asia Pacific Economic Cooperation (APEC) summit, where he met U.S. President Joe Biden, the scale of that military activity around Taiwan had scaled off. The aircraft were accompanying Chinese warships carrying out "joint combat readiness patrols" it added. China says its activities near Taiwan are aimed at "collusion" between Taiwan separatists and the United States and to protect China's territorial integrity.

Persons: Xi Jinping, Joe Biden, Su, Xi, Biden, Ben Blanchard, William Mallard, Kim Coghill Organizations: Asia Pacific Economic Cooperation, U.S, Taiwan, Biden Locations: TAIPEI, Taiwan, Taiwan Strait, China, Beijing, Taipei, San Francisco, United States, U.S

☆ Philippines' Marcos meets China's Xi to find ways to reduce South China Sea tensions
▼ + stars: | 2023-11-18 | by ( Neil Jerome Morales | ) www.reuters.com time to read: +2 min

The Philippines and China need to continue to communicate, with the meeting a key part of the process to maintain peace, and keep open sea lanes and airways over the South China Sea, Marcos told reporters on the sidelines of the APEC Summit in San Francisco. "We tried to come up with mechanisms to lower the tensions in the South China Sea," Marcos said, without elaborating. Marcos said he and Xi were in agreement that geopolitical problems should not be the defining element of the two countries' relationship. Marcos granted the United States greater access to its military bases, including in provinces facing the South China Sea and democratically-ruled Taiwan, drawing the ire of Beijing. China claims almost the entire South China Sea, ignoring a 2016 ruling by the Permanent Court of Arbitration that invalidated Beijing's expansive claim.

Persons: Xi Jinping, Ferdinand Marcos Jr, Marcos, Xi, Neil Jerome Morales, Kim Coghill Organizations: of, People, cnsphoto, REUTERS, APEC, coastguard, Sea, Thomson Locations: Philippine, Beijing, China, South China, Marcos China, MANILA, South, Philippines, San Francisco, United States, Taiwan, China's, Manila

☆ White House challenges House impeachment inquiry of Biden
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

U.S. President Joe Biden takes part in a leaders plenary meeting during Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. REUTERS/Brittany Hosea-Small Acquire Licensing RightsWASHINGTON, Nov 17 (Reuters) - The White House on Friday challenged the validity of an impeachment inquiry run by Republicans in the U.S. House of Representatives into President Joe Biden's son's business dealings. A letter from White House legal counsel Dick Sauber sent to House Republicans leading the inquiry said the probe was not valid since the House did not vote to authorize it. The White House says Biden has done nothing wrong and Republicans have no basis for an impeachment inquiry. Sauber said recent subpoenas and demands for congressional testimony from various White House officials and Biden family members were irresponsible.

Persons: Joe Biden, Brittany Hosea, Joe Biden's, Dick Sauber, Sauber, James Comer, Jim Jordan, Biden, Hunter, Jordan, Steve Holland, Makini Brice, Richard Chang Organizations: Economic Cooperation, REUTERS, Rights, U.S . House, White, House Republicans, Reuters, House, Republican, Republicans, Sauber, Thomson Locations: Asia, San Francisco , California, U.S, Kentucky

☆ Biden signs stopgap spending bill to avert government shutdown - White House
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

U.S. President Joe Biden delivers remarks during the Indo-Pacific Economic Framework (IPEF) Leaders event at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. REUTERS/Brittany Hosea-Small Acquire Licensing RightsSAN FRANCISCO, Nov 16 (Reuters) - U.S. President Joe Biden signed on Thursday a stopgap spending bill to avert a government shutdown, a day after the Senate passed it, the White House said. Biden signed the document on the sidelines of a dinner at the Legion of Honor museum in San Francisco, where leaders are attending the Asia Pacific Economic Cooperation (APEC) summit. U.S. House of Representatives Speaker Mike Johnson had produced the stopgap funding bill that drew broad bipartisan support, a rarity in modern U.S. politics. Reporting by Trevor Hunnicutt and Gokul Pisharody ; Editing by Clarence Fernandez and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Brittany Hosea, Biden, Mike Johnson, Trevor Hunnicutt, Clarence Fernandez, Kim Coghill Organizations: Economic, Economic Cooperation, REUTERS, FRANCISCO, Legion, Asia Pacific Economic Cooperation, . House, Thomson Locations: Asia, San Francisco , California, U.S, San Francisco, Washington

☆ Asia stocks hang onto weekly gains as yields, oil fall
▼ + stars: | 2023-11-17 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

The market is pricing in 98 basis points of cuts next year, compared with 73 basis points a week ago. "We forecast the policy rate to drop 100 basis points in 2H24 to end the year at 4.5%, before settling on hold at 3.5% by 1Q25." Treasury investors were looking to price in a little of that right now with yields on two-year treasuries down a whopping 21 basis points for the week at 4.85%. Ten-year note yields stood at 4.44%, having fallen 18 basis points for the week so far, a rousing rally from the 5.02% high hit just a month ago. It fared better against commodity-linked currencies such as the Canadian dollar , which were hampered by the slide in oil.

Persons: Brent, Xi Jinping, Joe Biden, Fumio Kishida, Xi, Wayne Cole, Sam Holmes Organizations: SYDNEY, Dealers, Walmart, Equity, Nasdaq, Japan's Nikkei, Bank of Japan, Japanese, APEC, Federal Reserve, JPMorgan, 1Q25, Treasury, Fed, Thomson Locations: Asia, Japan, Pacific, U.S, United States, China, 2H24

U.S. President Joe Biden delivers remarks at the Leaders Retreat during the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco, California, U.S., November 17, 2023. REUTERS/Loren Elliott Acquire Licensing RightsSAN FRANCISCO, Nov 17 (Reuters) - U.S. President Joe Biden on Friday urged Asia-Pacific economies to work together to ensure that artificial intelligence (AI) brings change for the better, not to abuse workers or limit potential. Addressing the final session of a two-day summit of the 21-member Asia Pacific Economic Cooperation (APEC) forum in San Francisco, Biden said he had briefly discussed AI with Chinese President Xi Jinping in talks on the sidelines of APEC on Wednesday. The steps, he said, included committing to ensuring the security of AI systems before releasing them to the public, watermarking AI-generated content to show it has been generated by artificial intelligence and minimizing the risk AI systems posed to society, such as by promoting bias or discrimination. Meanwhile, Washington was expanding grants for AI research in key areas like healthcare and climate change, he said.

Persons: Joe Biden, Loren Elliott, Biden, Xi Jinping, we've, Xi, David Brunnstrom, Don Durfee, Cynthia Osterman Organizations: Economic Cooperation, REUTERS, FRANCISCO, Asia, APEC, Wednesday, Thomson Locations: Asia, San Francisco , California, U.S, Pacific, San Francisco, United States, Washington

☆ Biden signs a bill averting a government shutdown for now, with Israel and Ukraine aid still stalled
▼ + stars: | 2023-11-17 | by ( ) www.cnbc.com time to read: +2 min

President Joe Biden signed a temporary spending bill a day before a potential government shutdown, pushing a fight with congressional Republicans over the federal budget into the new year, as wartime aid for Ukraine and Israel remains stalled. Biden signed the bill Thursday in San Francisco, where he was hosting the Asia-Pacific Economic Cooperation summit. The president signed the bill at the Legion of Honor Museum, where he held a dinner for APEC members. He portrayed the temporary funding bill as setting the ground for a spending "fight" with the Senate next year. The spending bill does not include the White House's nearly $106 billion request for wartime aid for Israel and Ukraine.

Persons: Joe Biden, Biden, Mike Johnson, Johnson Organizations: Republicans, Economic Cooperation, Legion, Honor, APEC, Republican Locations: Ukraine, Israel, San Francisco, Asia

☆ Xi revealed the extent of China's economic woes by the speed at which he caved to some of Biden's demands
▼ + stars: | 2023-11-17 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

China's Xi Jinping and President Joe Biden had their first meeting in a year this week. Xi entered the talks in an unfamiliar position of weakness amid China's economic woes. It was a stark contrast to recent public remarks by the Chinese president, where he sought to blame crises and conflicts across the globe on US meddling. The New York Times noted just how quickly Xi agreed to the demands, with previous US-China deals brokered after days of painstaking diplomatic negotiations. Though Xi is hoping for a short-term decrease in tensions, Chinese economic woes are unlikely to have altered his long-term calculations.

Persons: China's Xi Jinping, Joe Biden, Xi, —, Xi Jinping, Biden, Patricia Kim, Nancy Pelosi's, he'd, Robert Daly, Wilson, Vladimir Putin Organizations: Service, APEC, Center for East Asia Policy Studies, Biden, UAE ., New York Times, Associated Press, Institute, Russian, The New York Times Locations: San Francisco, China, United States, UAE, Taiwan, Beijing, Russia, Ukraine, East, Iran, Gaza, Washington

☆ Analysis-Indo-Pacific Trade Deal Prospects Dim as 2024 US Election Year Politics Loom
▼ + stars: | 2023-11-17 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +4 min

By David LawderSAN FRANCISCO (Reuters) - The Biden administration has vowed to continue negotiating an ambitious Asia trade deal, but election-year pressures and resistance to tough commitments from some countries make a deal unlikely, trade experts and business groups say. Deputy U.S. Trade Representative Sarah Bianchi told Reuters that IPEF partners will "recalibrate" the trade talks in 2024. But it gets harder from here, said Wendy Cutler, the former chief USTR negotiator on the Trans-Pacific Partnership trade deal with many of the same countries. "Until they do that, the trade pillar will be a tough nut to crack." The Biden administration launched negotiations in September 2022, leaving an impossibly tight deadline ahead of the APEC summit, according to some trade experts.

Persons: David Lawder, Biden, Sarah Bianchi, Wendy Cutler, TPP, Donald Trump's, Cutler, They're, Sherrod Brown, Jake Colvin, Colvin, Lori Wallach, Xi Jinping, Don Durfee, Josie Kao Organizations: FRANCISCO, Reuters, Economic, Economic Cooperation, U.S . Trade, Pacific Partnership, Asia Society Policy Center, APEC, Democratic, National Foreign Trade Council, Trans, Pacific Locations: Asia, Vietnam, Indonesia, Donald Trump's U.S, San Francisco, China

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