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☆ North Korea's showing off an underwater nuclear attack drone it says can cause a 'radioactive tsunami,' but the threat is likely 'exaggerated'
▼ + stars: | 2023-03-28 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

North Korea has tested an underwater nuclear attack drone, similar to Russia's Poseidon torpedo. "This nuclear underwater attack drone can be deployed at any coast and port or towed by a surface ship for operation," state media boasted. "There have been signs that North Korea has been developing unmanned submarines, but we assess that they are still at an elementary level," South Korea's JCS added. "There are good reasons to maintain skepticism that North Korea will widely produce or deploy the Haeil system," he wrote in an NK Pro analysis. A screen grab shows North Korean leader Kim Jong Un inspecting nuclear warheads at an undisclosed location in this undated still image used in a video.

☆ Russia to complete infrastructure for Poseidon torpedo carriers in 2024 - TASS
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +2 min

March 27 (Reuters) - Russia plans to complete in early 2024 the construction of its coastal infrastructure in the Pacific Ocean for basing nuclear submarines that will carry the Poseidon nuclear capable super torpedoes, TASS news agency reported on Monday. Russia said in January that it had produced the first set of the Poseidon torpedoes, four years after President Vladimir Putin announced the fundamentally new type of strategic nuclear weapon, confirming it would have its own nuclear power supply. The torpedoes are being developed for deployment on the Belgorod and Khabarovsk nuclear submarines, TASS reported. Russia Pacific Fleet's ballistic nuclear missile submarine base is located on the southeastern coast of the Kamchatka Peninsula, in the Russian Far East. Russia's major upgrade of the nuclear base comes amid rising U.S.-China tensions over influence in the Western Pacific.

☆ Factbox: The biggest financial crises of the last four decades
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +4 min

Fears of banking contagion remain, and investors are worried that global economies will suffer if the effects of higher interest rates torpedo more lenders. Michael Milken had helped popularize the financial instrument, with many using it as a way of funding leveraged buyouts. The country ended up getting external financial support from the International Monetary Fund and a $50 billion bailout from the United States. GLOBAL FINANCIAL CRISIS OF 2008The biggest financial crisis since the Great Depression was rooted in risky loans to shaky borrowers, which started to lose value after central banks raised interest rates in the period leading up to the crisis. EUROPEAN DEBT CRISISSpurred by the 2008 financial crisis, surging debt at some of the major European economies led to a loss of confidence in the region's businesses.

☆ The loser of a rare submarine vs. submarine battle was found 80 years after being sunk
▼ + stars: | 2023-03-22 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +4 min

In July 1941, a British submarine sank an Italian submarine in the Mediterranean Sea. It was against this backdrop that the Royal Navy submarine HMS Torbay and the Italian submarine Jantina squared off in the Aegean Sea near the island of Mykonos. The first two passed in front of the Italian sub, but the next struck it and exploded. The Italian sub sank quickly, and only six of the 48-man crew survived, swimming to a nearby island. By the end of the war, Torbay had sunk more than 40 German, Italian, and Japanese warships, merchant ships, and other vessels.

☆ How an often overlooked World War II-era shipbuilder designed the boat that Eisenhower said 'won the war for us'
▼ + stars: | 2023-03-19 | by ( Katie Sanders | Mara Storey | ) www.businessinsider.com time to read: +8 min

The Higgins boat is one of the iconic vessels of World War II. Andrew Higgins, center, developed several kinds of landing craft that were invaluable during World War II. His landing craft were used in every major amphibious assault of World War II, from the shores of Europe to the Pacific islands. National World War II MuseumBorn in Nebraska in 1886, Higgins ran newspaper routes and started a lawn-mowing company as a child. In one instance, Navy officials expressed interest in seeing a design for a new 56-foot tank landing craft three days before a scheduled visit to see another type of landing craft.

Following are some of the issues China and others are likely to be taking into account as it considers prospects for peace in Ukraine. Attempting to broker peace is a low-cost venture that can yield high returns for China, even if a quick breakthrough is highly unlikely, analysts say. The plan got lukewarm welcomes in both Russia and Ukraine while the United States and NATO were sceptical. China expanded trade with Ukraine after Russia invaded Crimea in 2014 and did not recognise the annexed territory as Russian, he said. Days before Russia invaded Ukraine, China and Russia announced a "no-limits" partnership.

☆ The bond market's recession warning has gotten more urgent
▼ + stars: | 2023-03-13 | by ( Patti Domm | In | ) www.cnbc.com time to read: +5 min

The bond market is sending a more urgent recession warning and also signaling that the Federal Reserve may have to pause raising interest rates — giving up its fight against inflation. The sharp move in the 2-year yield also resulted in a rapid steepening of the yield curve. "The steepening always starts to happen because the market expects the Fed to cut rates in response to that recession." DoubleLine Capital CEO Jeffrey Gundlach also said the "aggressively steepening" of the Treasury yield curve after inversion is "highly suggestive of imminent recession." The 2-year yield jumped above 5% after he spoke.

The EU law would require all new cars sold from 2035 to have zero CO2 emissions, making it effectively impossible to sell new fossil fuel-powered cars. E-fuels, like e-kerosene, e-methane, or e-methanol, are made by synthesizing captured CO2 emissions and hydrogen produced using renewable or CO2-free electricity. Germany and Italy want clearer assurances from the EU that sales of new ICE cars can continue beyond 2035, if they run on CO2-neutral fuels. Most major carmakers are betting on battery-electric vehicles - a technology that is already widely available - as the main route to cut CO2 emissions from passenger cars. Supporters say e-fuels offer a route to cut the CO2 emissions of our existing passenger car fleet, without replacing every vehicle with an electric one.

☆ DeSantis' approach to a possible 6-week abortion ban in Florida could torpedo his shot at the presidency
▼ + stars: | 2023-03-07 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +9 min

GOP lawmakers in Florida have introduced a six-week abortion ban. But the ramifications of a six-week ban in Florida would go beyond politics. As the session kicked off in Tallahassee on Tuesday, the path to a six-week abortion ban in Florida appeared more clear than it did a few months ago. In a press conference with reporters, she acknowledged the math was difficult but vowed the party would fight, arguing that a six-week ban was broadly unpopular among Floridians. Senate Minority Leader Lauren Book, a Democrat of Plantation, Florida, accused Republicans of going "scorched earth" with their abortion ban bill.

☆ How unusually mild weather prevented what could've been the first aircraft carrier battle since World War II
▼ + stars: | 2023-02-16 | by ( Sebastien Roblin | ) www.businessinsider.com time to read: +10 min

Argentine jets were poised to strike when the usually turbulent South Atlantic winds took a mild turn. Few of the half-dozen Argentine aviators expected to survive the attack, dubbed "Banzai Night" after the famous Japanese battle cry. Government of ArgentinaIronically, the Veinticinco de Mayo was originally a British carrier named the HMS Venerable launched by the Cammell Laird shipyard near the end of World War II. After a damaging boiler-room fire, the Karel was sold in 1969 to the Argentine Navy which extensively modernized and rebuilt the 25-year-old vessel. The Harrier and the Sea DartSea Harrier jump jets aboard HMS Hermes in the South Atlantic on May 1, 1982.

☆ Tech Layoffs Unwind Recent Head-Count Growth, Torpedo Long-Shot Projects
▼ + stars: | 2023-01-22 | by ( Sarah E. Needleman | ) www.wsj.com time to read: 1 min

Microsoft is cutting a quarter of the 40,000 staffers it added in its last fiscal year. Google and Microsoft Corp. this past week joined other tech companies, big and small, in cutting jobs and shelving some products and projects as the industry grapples with economic turbulence. The big question now: Will those moves be enough?

☆ Patrick Mahomes Lost His Powers. He Still Made Magic.
▼ + stars: | 2023-01-22 | by ( Andrew Beaton | ) www.wsj.com time to read: 1 min

The one thing that could possibly torpedo the Kansas City Chiefs’ Super Bowl hopes happened not long into their first playoff game this postseason. Patrick Mahomes got hurt. On a play in the first quarter of the team’s divisional round game against the Jaguars, Mahomes let go of a pass and then was brought to the ground by a pair of Jacksonville defenders. One of them landed on Mahomes’s leg, visibly bending it around the ankle.

☆ This is the No. 1 career mistake young people make 'all the time,' says Uber's CEO—how to avoid it
▼ + stars: | 2023-01-19 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

While some people might argue that the secret to success lies in creating a detailed, linear path to your ultimate career goal, Uber CEO Dara Khosrowshahi says over-planning isn't just ineffective — it can torpedo your chances of building a fulfilling career. "Don't over-plan your career … I see young people make this mistake all the time," Khosrowshahi told LinkedIn CEO Ryan Roslansky in a new interview published Thursday. "I've never been in a hurry in my career, because if you're open, and you really want to hone your craft, it's so much more satisfying [to take your time]." "People talk about financial compounding — there's a career compounding that's magical. Here's how to pick them and stick to themSign up now: Get smarter about your money and career with our weekly newsletter

☆ We could soon be facing the biggest financial crisis in history as Republicans threaten to stop paying America's bills
▼ + stars: | 2023-01-19 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +11 min

Republicans are using the debt ceiling as leverage to achieve spending cuts on Democratic priorities. But failing to raise the debt ceiling by the summer could cause the US to default on its debt. Consequences of default are dire, and Biden has urged the GOP to not bargain with the debt limit. "Failure to raise the debt limit will not reduce our debt, but it would wreck the economy if it led to a default. "When you talk about the trillion dollar platinum coin, it sounds very silly — and it is really silly!"

☆ State media reports Russia has built its first batch of Poseidon doomsday torpedoes, one of Putin's 'super weapons'
▼ + stars: | 2023-01-17 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

The first batch of Russia's Poseidon torpedoes has been produced, state media reported. The Poseidon is one of Russian President Vladimir Putin's six so-called "super weapons." A Russian Poseidon nuclear-powered underwater drone is captured in an undated video grab provided by the Russian Defense Ministry. Poseidon torpedoes are considered to be one of Russia's six experimental "super weapons." TASS reported on Sunday that the Poseidon torpedoes are made for the Russian nuclear-power submarine Belgorod, which was launched in April 2019.

☆ Russia produces first nuclear warheads for Poseidon super torpedo - TASS
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, Jan 16 (Reuters) - Russia has produced the first nuclear warheads for the Poseidon super torpedoes to be deployed on the Belgorod nuclear submarine, TASS reported on Monday, citing an unidentified defence source. "The first Poseidon ammunition loads have been manufactured, and the Belgorod submarine will receive them in the near future," TASS quoted the source as saying. President Vladimir Putin first announced what would become known as Poseidon in 2018, saying it was a fundamentally new type of strategic nuclear weapon with its own nuclear power source. "They are very low noise, have high maneuverability and are practically indestructible for the enemy. There is no weapon that can counter them in the world today," Putin said.

☆ For 60 years, the US Navy has been training dolphins and sea lions to keep rivals away from its most sensitive hardware
▼ + stars: | 2022-12-29 | by ( Gidget Fuentes | ) www.businessinsider.com time to read: +16 min

The US Navy has been training dolphins and sea lions to detect undersea threats since the 1960s. A US Navy trainer with a Mark 5 Marine Mammal sea lion in Key West in October 1990. The program worked with sharks, rays, and sea turtles but settled on dolphins and sea lions. US NavyThe Navy Marine Mammal Program's budget for 2023 provides $40 million for "food, medicine, veterinary care, husbandry, and facilities," Wilson said. A US Navy sea lion jumps into a riverine command boat during a mine-countermeasures exercise in Bahrain in November 2014.

☆ The US Navy backed the hunt for Titanic in part because the explorer who found it argued it would 'drive the Soviets crazy,' book reveals
▼ + stars: | 2022-12-26 | by ( Ryan Pickrell | ) www.businessinsider.com time to read: +9 min

The hunt for the Titanic was cover for a secret Navy mission to investigate two submarine wrecks. It was also part of a psychological warfare game the US was playing with the Soviets, Ballard revealed in a 2021 book. But his most recognizable discovery was the British passenger ship Titanic that sank in the North Atlantic on April 15, 1912, ending more than 1,500 lives. "I wanted to do a bang-up job for the Navy, but I was also constantly thinking about how to find Titanic," Ballard wrote. "There it was, one of 29 boilers that had created steam for Titanic's engines," Ballard wrote in his book.

☆ DeSantis is often described as 'Trump without the baggage,' but there are plenty of differences between the two Republicans. How they play up their contrasts will decide who wins in 2024, GOP insiders
▼ + stars: | 2022-12-24 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +20 min

DeSantis could end up running for president in 2024, and he's widely viewed as similar to Trump. He's "Trump without the baggage," "Trump with a brain," Trump "without the drama," and "Trump's Mini Me." The pile on is a problem for both men should DeSantis join Trump in the ring for the 2024 nomination contest. "We know what we get with President Trump," he said. In Florida, DeSantis pushed the legislature to limit ballot collection by non-family members.

☆ House passes $1.7 trillion spending bill that rewrites U.S. election law, sending it to Biden to sign
▼ + stars: | 2022-12-23 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Sahil-Kapur-Headshot.Jpg | Sahil Kapur | ) www.nbcnews.com time to read: +5 min

WASHINGTON — The House on Friday voted to finalize a massive $1.7 trillion government funding bill, sending it to President Joe Biden and marking the end of two years of Democrats controlling both chambers of Congress. It overhauls federal election law by revising the Electoral Count Act of 1887 to try to prevent another Jan. 6. The bill funds a swath of domestic programs as well, averting a shutdown and keeping the government funded through next fall. “We have a big bill here, because we have big needs for our country,” outgoing House Speaker Nancy Pelosi said on the floor. The measure was negotiated by Democratic leaders and top Senate Republicans, including Minority Leader Mitch McConnell, R-Ky.

☆ Veterans accuse Congress of abandoning Afghan allies after help for refugees is left out of spending bill
▼ + stars: | 2022-12-21 | by ( Dan De Luce | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Julie-Tsirkin-Circle-Byline-Template.Jpg | ) www.nbcnews.com time to read: +4 min

Refugee advocates and veterans accused Congress of abandoning Afghans who fled to the U.S. after a bill designed to resolve the legal status of tens of thousands of Afghan refugees was left out of a year-end spending bill. The Afghan refugees were granted a two-year temporary “humanitarian parole,” which has left them in legal limbo and unable to work. The bill would have granted Afghan refugees a pathway to permanent legal residency before their parole expires. To address concerns raised by some Republican lawmakers, sponsors of the bill added language to ensure the Afghan refugees undergo thorough security vetting by U.S. authorities. But the proposal failed to win support from 10 Republican senators needed to add it to the omnibus spending package.

It could be the last major bill that passes this year before Republicans seize control of the House on Jan. 3. He has pressured GOP lawmakers to vote against it, forcing Democrats to supply most of the votes to pass it in the House. Capitol Hill leaders decided to attach the election bill and Ukraine aid to ease the process of passage, on the belief that the combined package has the votes to pass. For Republicans, one incentive to pass the bill now is that it funds the military at a higher level than the nondefense budget. “This is a strong outcome for Republicans,” Senate Minority Leader Mitch McConnell, R-Ky., said, arguing that the GOP persuaded Democrats to back down on their long-standing demand for “parity” between the two pots of money.

WASHINGTON — The Senate voted Thursday to pass a one-week stopgap bill to temporarily avert a government shutdown as congressional leaders finish work on a full-year government funding package. Just nine House Republicans joined a unanimous Democratic caucus to vote for the measure, an indication of the narrow margins House Democrats will face in trying to pass the full-year funding bill. On Tuesday, Capitol Hill leaders reached agreement on a bipartisan framework for a massive government funding bill to address modern needs and prevent federal agencies from functioning on autopilot, as they have for months awaiting congressional action. To become law, the bill requires a simple majority in the House and at least 10 Republicans to break a filibuster in the Democratic-led Senate. His leadership team was also encouraging GOP members to vote the stopgap bill down this week.

The fate of the bill is also linked to an election overhaul measure to avoid another Jan. 6, which Senate leaders hope to attach to it. The two parties are about $26 billion apart on domestic spending, Shelby said, which isn’t much considering the omnibus package would likely be more than $1.5 trillion. Although they control both chambers, they still need at least 10 Senate GOP votes to defeat a filibuster on a funding bill. The government funding bill is likely the last train leaving the station in the current session of Congress, and a number of other provisions could ride along. Senators have struck a deal on a bill that cleared committee on a bipartisan vote of 14-1 in September.

☆ Sinema's exit from the Democratic Party could hand Manchin back some power over Biden's agenda
▼ + stars: | 2022-12-09 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Sen. Kyrsten Sinema is leaving the Democratic Party to become an independent. It changes the balance of power in the Senate, though Sinema sought to downplay the extent. But Sen. Kyrsten Sinema's announcement early Friday that she is leaving the Democratic Party to become an independent soured that victory, and again altered the balance of power. Though that group already included two independents — Sen. Bernie Sanders and Sen. Angus King — it was signed-up Democrats, Sinema and Manchin, who caused the most trouble. "Becoming an independent won't change my work in the Senate; my service to Arizona remains the same," she said in an op-ed announcing her departure from the Democratic Party.

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