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☆ China uncovers alleged Chinese spy for CIA - state broadcaster
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

The Chinese national surnamed Zeng, who had worked for a military industrial group, was recruited by a CIA agent based in Italy, China Central Television (CCTV) said in a report. Zeng was sent to Italy by the military industrial group for further studies and became acquainted with the CIA agent. After succeeding in "shaking" Zeng's political stance, the CIA agent sought sensitive information about the Chinese military from Zeng, according to the CCTV report. Zeng was found to have signed an espionage agreement with the U.S. and had received training before returning to China, CCTV reported. After returning to China, Zeng had provided on numerous occasions "core" intelligence, and had pocketed funds for the efforts, it said.

Persons: Zeng, Seth, Liz Lee, Ryan Woo, Jamie Freed, Michael Perry, Raju Gopalakrishnan Organizations: U.S . Central Intelligence Agency, CIA, China Central Television, U.S, Shanghai, Thomson Locations: BEIJING, China, Italy, U.S, Beijing, Washington, United States

☆ U.K. Economy Grows Weakly
▼ + stars: | 2023-08-11 | by ( Kevin Granville | ) www.nytimes.com time to read: +4 min

The data beat the Bank of England’s forecast last week for 0.1 percent growth, and some economists had predicted a quarter of no growth. For over a year, beginning with the second quarter of 2022, Britain’s economy expanded each quarter by 0.1 percent — except for the July-September period last year, when it contracted by the same amount. Comparisons: Growth in Europe and United StatesIn Europe, the 20 countries that use the euro currency haven’t faired much better in terms of economic growth. The eurozone expanded 0.3 percent in the second quarter, after stalling earlier in the year and shrinking 0.1 percent late last year. “Low economic growth and stagnant productivity is increasing the financial vulnerability of households in the bottom half of the income distribution and the incidence of destitution at the poorest end,” the report said.

Persons: King Charles, Andrew Bailey, “ Organizations: Office, National Statistics, Bank of England’s, Bank of England, Bank, National Institute of Economic, Social Research Locations: Britain, Europe, United States, London

☆ Japan eyes tax break for domestic EV battery, chip production - Nikkei
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration/File PhotoTOKYO, Aug 11 (Reuters) - Japan plans to create tax breaks for domestically-made electric vehicle (EV) batteries and semiconductors from April 2024 to enhance economic security, the Nikkei newspaper reported on Friday. For the government's fiscal 2024 tax code revision, the Ministry of Economy, Trade and Industry will propose the tax cuts for companies manufacturing strategically crucial items in Japan, Nikkei said. The ministry will draft the specifics including applicable items by end of this year, the report said. To secure supply chains for strategic goods, Japan has also unveiled billion-dollar subsidies for chipmakers such as Taiwan Semiconductor Manufacturing (2330.TW) and Micron Technology (MU.O) to build plants in Japan, and enacted the Economic Security Promotion Act last year.

Persons: Florence Lo, Akin, Kantaro Komiya, Kim Coghill Organizations: REUTERS, Nikkei, European Union, Ministry, Economy, Trade, Industry, U.S, Taiwan Semiconductor Manufacturing, Micron Technology, Economic, Thomson Locations: Japan, United States, China

☆ Russia says it downs Ukrainian drone west of Moscow, two airports reopen
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

[1/3] Russian law enforcement officers stand guard near the accident scene following a reported Ukrainian drone crash in Moscow, Russia, August 11, 2023. REUTERS/StringerMOSCOW, Aug 11 (Reuters) - Russian air defences on Friday downed a Ukrainian drone as it flew towards an unspecified target in Moscow, the defence ministry said, the latest in a flurry of drone attacks on the Russian capital. Earlier, Moscow's Vnukovo airport and Kaluga airport, some 150 km (95 miles) southwest of the capital, were temporarily shut due to a suspected drone flight. Drone air strikes deep inside Russia have increased since a drone was destroyed over the Kremlin in early May. Russia said on Thursday that it had downed 13 Ukrainian drones seeking to attack Moscow and also the largest city in Crimea, which Russia annexed from Ukraine in 2014.

Persons: Stringer MOSCOW Organizations: REUTERS, Kremlin, Civilian, Thomson Locations: Ukrainian, Moscow, Russia, Vnukovo, Kaluga, Kyiv, Crimea, Ukraine, Russian, Russia's Novorossiysk

☆ IRS cannot find millions of backup tax records, watchdog says
▼ + stars: | 2023-08-11 | by ( Katie Lobosco | ) edition.cnn.com time to read: +3 min

Washington CNN —The Internal Revenue Service cannot locate thousands of microfilm cartridges storing millions of sensitive business and individual tax account records, a new watchdog report found. The tax information could be used to commit tax refund fraud, according to the Treasury Inspector General for Tax Administration, the office that conducted the report. During a site visit, the IRS was unable to locate any of the fiscal year 2010 microfilm cartridges that should have been sent to the Kansas City Tax Processing Center in 2022 after the Fresno Tax Processing Center closed. Separately, at the Ogden Tax Processing Center, IRS personnel were unaware of the current location of as many as 168 cartridges that had been sent out for reformatting, the report said. The IRS is also digitizing all paper-filed tax returns by 2025, which is expected to cut processing times in half and speed up refunds by four weeks, the agency said last week.

Persons: Ken Corbin, Biden Organizations: Washington CNN, Internal Revenue, Tax Administration, IRS, Kansas City Tax Processing, Fresno Tax Processing, Ogden Tax Processing Center, Democrats, Republicans Locations: Kansas, Fresno

☆ Amazon scraps private label brands to cut costs, address antitrust scrutiny - source
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +2 min

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, November 15, 2022. REUTERS/Pascal Rossignol/File PhotoAug 10 (Reuters) - Amazon.com (AMZN.O) is shelving several private clothing brands in an attempt to reduce costs and address antitrust scrutiny, a source familiar with the matter said on Thursday. Amazon also is scrapping private-label furniture, phasing out its Rivet and Stone & Beam brands once their stock runs out, the report said. "If there are products that aren't resonating with customers we deprecate those items and look for other opportunities to better meet their needs," Matt Taddy, Vice President of Amazon Private Brands, said in an email to Reuters. The FTC began probing Amazon during the Trump administration when the government decided to investigate several big tech companies for allegedly breaking antitrust law.

Persons: Pascal, Matt Taddy, Trump, Zaheer Kachwala, Shweta Agarwal, Arun Koyyur Organizations: REUTERS, Wall Street, Beam, Amazon Private Brands, Reuters, The, U.S . Federal Trade Commission, FTC, Thomson Locations: Lauwin, France, Bengaluru

☆ China's real estate market roiled by default fears again
▼ + stars: | 2023-08-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Qilai Shen | Bloomberg | Getty ImagesBEIJING — Two years after Evergrande's debt troubles, worries about China's real estate sector are coming to the forefront again. In late July, its top leaders indicated a shift toward greater support for the real estate sector, paving the way for local governments to implement specific policies. For the last several years, Chinese authorities have attempted to curb debt-fueled speculation in the country's massive — and hot — real estate market. Real estate and related industries have accounted for about a quarter of China's economy. He pointed out that since China started its deleveraging campaign in 2016, it is very unlikely the state would step in to bail out real estate developers.

Persons: Qilai Shen, Dalian Wanda, Liu Haibo, Sandra Chow, Nomura, Chow, Evergrande, Redmond Wong, —, Wong, Vanke, that's Organizations: Country Garden Holdings Co, Bloomberg, Getty, BEIJING, Reuters, CNBC, Country, Asia Pacific Research, CreditSights, Fitch, Saxo Markets Hong, China's, House Research, Stock, Poly Development, Research Locations: Baoding, Hebei province, China, Dalian, Hong Kong, Beijing, Saxo Markets Hong Kong

Seoul, South Korea CNN —North Korean leader Kim Jong Un has fired his top general amid a shakeup of the country’s military leadership and wants his army to “gird for a war,” state media reported Thursday. North Korean leader Kim Jong Un leads a meeting of the Central Military Commission in Pyongyang, North Korea, on Wednesday. KCNA/Handout/ReutersNorth Korea regularly revamps its military leadership. 2 job in the North Korean military hierarchy as recently as December 31 – reflected that, analysts said. Easley said the North Korean leader may simply be trying to ensure that no one below him becomes too powerful.

Persons: Kim Jong Un, “, Pak Su Il, Ri Yong Gil, ”, KCNA, Ri –, Yong Gil, Leif, Eric Easley, Cheong Seong, Kim Jong, ” Cheong, Easley, Yevgeny Prigozhin, Vladimir Putin’s, ” Easley, Kim Organizations: South Korea CNN — North, General Staff, Korean Central News Agency, Central Military Commission, Reuters, North, Ewha Womans University, Sejong Institute, Wagner, DPRK, Democratic People’s Locations: Seoul, South Korea, Pyongyang, North Korea, Reuters North Korea, Russian, Korean, United States, Democratic People’s Republic, Korea

☆ Elon Musk's change in label policy on X, prompts 'dramatic rise in the Kremlin's visibility,' NATO says
▼ + stars: | 2023-08-10 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Elon Musk ended Twitter, now X's, policy of labeling and de-amplifying state-affiliated accounts. A NATO analysis says the Kremlin has since seen a "dramatic rise" in its visibility as a result. The Russian Embassy in the US, which often posts propaganda, has since seen a 150% surge in views, NATO said. Elon Musk has prompted a "dramatic rise in the Kremlin's visibility on Twitter," according to an analysis from the NATO Strategic Communications Center of Excellence. NATO's analysis of 11 Russian accounts, which were previously labeled by X, showed an average 60% increase in views since Musk's change in policy.

Persons: Elon Musk Organizations: Russian Embassy, Morning, NATO Strategic Communications Center of Excellence, Twitter, Sputnik, China's Global, BBC, NPR Locations: NATO, Russian, Ukraine, Russia

☆ Conservative Justice Clarence Thomas took lavish vacations with a billionaire who criticized student-loan forgiveness months before the Supreme Court struck it down, new report says
▼ + stars: | 2023-08-10 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

A new ProPublica report found Clarence Thomas has accepted more undisclosed gifts from billionaires. On Thursday, ProPublica released an investigation that revealed new information on the gifts billionaires have given Thomas over the years. Months later, the Supreme Court in June indeed struck down the student-debt relief, with Thomas voting in the majority. Last month, Democrats on the Senate Judiciary Committee passed a bill that would create a code of ethics for Supreme Court justices, but it's unlikely the bill will pass under a Republican-controlled House. Can Congress do various things to regulate the Supreme Court?

Persons: Clarence Thomas, David Sokol, Thomas, Justice Alito, ProPublica, Sokol, Joe Biden's, Biden's, Harlan Crow, Sam Alito, Paul Singer, Alito, Elena Kagan, We're Organizations: Service, Nebraska, Berkshire, Supreme, Republican, Street, Liberal Locations: Wall, Silicon, Wyoming, Berkshire Hathaway, Nebraska, Jackson Hole , Wyoming

☆ US Special Operations Command is working on a new mini-sub to carry SEALs to their targets in style
▼ + stars: | 2023-08-10 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +7 min

The Dry Combat Submersible would shield SEALs from the sea, unlike other delivery vehicles. US Navy/Chief Photographer's Mate Andrew McKaskleThe battery-powered Dry Combat Submersible is about 40 feet long and weighs a little over 28 tons. But perhaps the biggest difference is that the Dry Combat Submersible keeps frogmen dry, unlike the SEALs' other submersibles, which are open to the sea. US Navy/Chief Journalist Dave FliesenUS special-operations leaders have big ambitions for the Dry Combat Submersible and their other mini-subs. The Mark 11 is meant to carry small teams of Navy SEALs into an enemy harbors and shores without detection.

Persons: Lockheed Martin, SOCOM, Photographer's, Andrew McKaskle, Gregg Bauer, John Parker, Bauer, Dave Fliesen, Christopher Perez The, Mark, Stavros Atlamazoglou Organizations: Operations Command, Lockheed, Service, US Navy SEALs, Special Operations Command, US Navy, Navy, DCS, Naval, Warfare Command, Navy SEALs, Warfare, Special Boat Service, US State Department, Hellenic Army, 575th Marine Battalion, Army, Johns Hopkins University, Johns Hopkins, School, International Locations: Wall, Silicon, Russia, China, Ukraine, Philadelphia, Georgia, Naples, Italy, Sutton, Dallas, Norfolk, Pearl, Christopher Perez The British, British, Johns

☆ It’s a Barbie world — and pink is seeping into what we use, wear and eat
▼ + stars: | 2023-08-10 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

Just this week, a restaurant in Los Angeles debuted a vegan “Barbie roll,” created using pink soy paper. According to Circana, the week the movie hit theaters, Barbie products accounted for six of the top 10 doll items sold. In footwear, unit sales of pink sneakers for adults grew 15% in the second quarter versus a year ago. Elsewhere, Barbie-licensed book sales jumped 53% in the second quarter compared to the first quarter of 2023, and up 44% compared to second quarter 2022. “The ‘Barbie’ movie has created excitement that is spanning a host of industries as Barbie fans of all ages are showing their love well beyond the movie,” said Cohen.

Persons: ”, Barbie, ” Marshal Cohen, Circana, Arriana McLymore, Cohen Organizations: New, New York CNN, Warner Bros, Warner Bros ., ”, Reuters, Mattel Locations: New York, Angeles, Zara's Soho, New York City, Arriana

☆ Average consumer carries $5,947 in credit card debt — a 10-year high
▼ + stars: | 2023-08-10 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

On the heels of another rate hike last month by the Federal Reserve, the average credit card rate is now more than 20% on average, an all-time high. "People aren't financing purchases at 20% because they have other options," said Greg McBride, chief financial analyst at Bankrate. "As a result, they are tapping into these available credit products to help them cope with rising expenses." As the number of credit card accounts in the U.S. rose, delinquencies notched higher, the report said. How to tackle high-interest credit card debtkrisanapong detraphiphat | Moment | Getty Images

Persons: John Sedunov, Greg McBride, Sedunov, Gen, TransUnion, Michele Raneri, Raneri Organizations: New York Fed, Villanova University's School of Business, Federal Reserve, Bankrate, TransUnion Locations: U.S

☆ CPI: Consumer prices rose by 3.2% annually in July, picking up for the first time in 13 months
▼ + stars: | 2023-08-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Minneapolis CNN —For the first time in more than 12 months, the pace of consumer price hikes accelerated on an annual basis. The Consumer Price Index rose 3.2% for the year through July, up from June’s 3% annual increase, according to data released Thursday by the Bureau of Labor Statistics. Core CPI, which excludes the more volatile food and energy prices, increased 0.2% from June and was up 4.7% from the year-ago period. July is the the fourth consecutive month that annual core CPI has eased, and the 4.7% rate landed 0.1 percentage points below consensus expectations. Shelter prices rose 0.4% month on month and were up 7.7% for the year ending in July.

Persons: “ Don’t, ”, Julia Pollak, Joe Biden, ” Biden, “ We’ve, Kurt Rankin, Dow, “, Joe Brusuelas, Brusuelas, Tamara Charm, Brandon Bell, Danielle DiMartino Booth, DiMartino Booth, — CNN’s Elisabeth Buchwald Organizations: Minneapolis CNN —, Bureau of Labor Statistics, BLS, CPI, Federal Reserve, PNC, Nasdaq, RSM US, CNN, San, Services, “, McKinsey, Quill Intelligence, Federal Reserve Bank of Dallas Locations: Minneapolis, June’s, San Francisco, Austin , Texas

☆ Adani Enterprises weighs exiting $6 bln Wilmar venture - Bloomberg News
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

Workers transport tins of edible oil inside a storeroom of Adani Wilmar Ltd at Mundra, 375 km (233 miles) from the western Indian city of Ahmedabad, June 10, 2009. REUTERS/Amit Dave/File PhotoAug 8 (Reuters) - India's Adani Enterprises (ADEL.NS) is exploring selling its stake in its consumer-staple joint venture with Wilmar International (WLIL.SI), Bloomberg News reported on Tuesday, citing people familiar with the matter. Deliberations are at an early stage and Adani Enterprises may decide to keep its stake, the report said. Adani Enterprises and Wilmar did not respond to Reuters requests for comment, while Adani Wilmar said it would not like to comment on the report. Last week, Adani Wilmar reported loss in the first quarter, hurt by a steep decline in edible oil prices.

Persons: Wilmar, Amit Dave, Adani, Gautam Adani, Adani Wilmar, Shubhendu Deshmukh, Shounak Dasgupta, Shilpi Majumdar Organizations: REUTERS, Adani Enterprises, Wilmar, Bloomberg, Adani, Hindenburg, Thomson Locations: Mundra, Indian, Ahmedabad, India, Bengaluru

☆ India succeeds in reducing emissions rate by 33% over 14 years - sources
▼ + stars: | 2023-08-09 | by ( Sarita Chaganti Singh | ) www.reuters.com time to read: +3 min

REUTERS/Adnan Abidi/File PhotoNEW DELHI, Aug 9 (Reuters) - India's greenhouse emissions rate dropped by a faster-than-expected 33% in 14 years as renewable energy generation rose and forest cover increased, according to two officials privy to latest assessment made for submission to the United Nations. India's rate of emissions intensity - the total amount of greenhouse gas emissions emitted for every unit increase of gross domestic product (GDP) - fell by 33% from 2005 to 2019, officials privy to the preparations of the Third National Communication (TNC) report said. India's average rate of reduction in emissions increased to 3% annually in the period 2016-2019, from just about 1.5% in the period 2014-2016. The progress made on reducing emissions intensity should help India avert pressure by developed nations to stop using coal, the second official said. Recently, India has also been trying to promote green hydrogen, manufactured by splitting water molecules using renewable energy.

Persons: Adnan Abidi, Sarita Chaganti Singh, Simon Cameron, Moore Organizations: REUTERS, United Nations, National Communication, Reuters, Reuters . Central Electricity Authority, Reuters Graphics Reuters, Thomson Locations: New Delhi, India

☆ How the World Scout Jamboree descended into chaos in South Korea
▼ + stars: | 2023-08-09 | by ( Ju-Min Park | ) www.reuters.com time to read: +5 min

These were some of the conditions that about 40,000 teenage scouts had to contend with in the past week at the World Scout Jamboree, sending red-faced organisers in South Korea scrambling to fix matters before a looming typhoon forced everyone to leave the ill-fated campsite. As far back as 2017, when South Korea won the bid to host the jamboree, the campsite on reclaimed mud flats was seen as potentially problematic, according to a Reuters review of publicly available government reports. Matt Hyde, UK Scouts' chief executive, told Reuters the group decided to withdraw its contingent - the event's biggest - because toilets weren't being cleaned, rubbish was building up, and scouts weren't getting enough food. [1/5]Participants who left the camping site of the 25th World Scout Jamboree, arrive at a university in Incheon, South Korea, August 8, 2023. "South Korea has been known as a developed country so who would have thought that this country can't fix issues like bugs or toilets?"

Persons: Matt Hyde, weren't, Kim Soo, Kim Hyun, Hong Ki Yong, Josh Smith, Miral Organizations: South, FIFA, South Korea, Saemangeum Development, Investment Agency, Scouts, Reuters, REUTERS, WHO, University of Incheon, Thomson Locations: SEOUL, South Korea, West Virginia, North Jeolla, Incheon, Korea's, Busan, Korea

☆ North Korea's Kim dismisses top general, calls for war preparations
▼ + stars: | 2023-08-09 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

General Ri Yong Gil was named to replace the military’s top general, chief of the General Staff Pak Su Il, KCNA reported, without elaborating. The United States has accused North Korea of providing arms to Russia for its war in Ukraine, including artillery shells, rockets and missiles. Russia and North Korea have denied those claims. North Korea is set to stage a militia parade on Sept. 9, marking the 75th anniversary of the Day of the Foundation of the Republic. North Korea has a number of paramilitary groups it uses to bolster its military forces.

Persons: Kim Jong Un, Kim, Ri Yong Gil, General Staff Pak Su Il, KCNA, Ri, Hyunsu Yim, Josh Smith, Stephen Coates Organizations: 8th Central Military Commission of, Workers ' Party of Korea, Central Committee of, Workers ' Party of, KCNA, REUTERS, Central Military Commission, General Staff, United, Foundation of, Thomson Locations: Workers ' Party of Korea, Pyongyang, North Korea, REUTERS SEOUL, Seoul, United States, Russia, Ukraine, Republic . North Korea, U.S, South Korea

☆ How we're buying perfume lately could signal how we're feeling about the economy
▼ + stars: | 2023-08-09 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —How consumers are feeling about the health of the US economy, and of their own wallets, could be showing up in the way we’re buying one particular indulgence — perfume. During periods of economic uncertainty, consumer behavior experts say shoppers tend to alter their purchase patterns, especially for discretionary goods. They either switch to cheaper alternatives, cut back on how often they buy a product, or stop buying some products completely. Perfume is no exception to these trends, as cheaper variants are seeing sales shoot through the roof. And that’s just one way in which consumers are pulling back, despite more traditional economic indicators telling a much rosier story.

Persons: don’t, ”, Dallin Hatch, Hatch, Jacquelyn, ” Larissa Jensen Organizations: New, New York CNN Locations: New York, Circana

☆ Japan says cannot confirm leakage after report says China hacked defence networks
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Kacper Pempel/File PhotoTOKYO, Aug 8 (Reuters) - Japan cannot confirm if any security information has been leaked, the top government spokesperson said on Tuesday when asked about a Washington Post report on Chinese hacking into its defence cyber networks. Chinese military hackers gained access to a classified defence network in Japan beginning in 2020, accessing information about the U.S. ally's military capabilities, plans and assessments of shortcomings, the Washington Post reported on Monday, citing senior officials. Speaking at a regular press briefing on Tuesday, Japan's Chief Cabinet Secretary Hirokazu Matsuno said Japan and U.S. have always been in close communication on various levels. Matsuno also said that cyber security is the foundation for maintaining the Japan-U.S. alliance, and that Japan will continue to work to keep its network firm and secure. Meanwhile, Japan's slow response to improve its cyber network could impede greater intelligence sharing between the Pentagon and Japan's Defence Ministry, the Washington Post said, citing officials.

Persons: Kacper, Hirokazu Matsuno, haven't, Matsuno, Mariko Katsumura, Raju Gopalakrishnan Organizations: REUTERS, Washington Post, U.S . National Security Agency, Pentagon, Japan's Defence Ministry, Thomson Locations: Japan, Tokyo, U.S, Beijing

Phillips declined to make an executive available for comment and both ADM and Phillips 66 declined to comment. TECH LINED UPAxens SA, which provides technology to convert oil and biomass to lower-carbon fuels, in May agreed to provide its ethanol-to-fuels conversion technology to Phillips, ADM or a joint venture. ADM already formed a joint venture in 2021 with top U.S. oil refiner Marathon Petroleum Corp (MPC.N) to churn out renewable diesel from soybeans. Top oilseed processor Bunge (BG.N) and Chevron (CVX.N) last year formed Bunge Chevron Ag Renewables to make renewable fuels from soybeans and canola. As part of one deal, Chevron invested $600 million in the joint venture, helping double processing capacity at two Bunge soybean crushing facilities.

Persons: Nathan Frandino, refiner Phillips, Phillips, Axens, Gevo, Stephanie Kelly, Karl Plume, Jarrett Renshaw, Erwin Seba, Marguerita Choy Organizations: Phillips, American West, REUTERS, Daniels, Midland, ADM, Renewable Fuels Association, TECH, Axens SA, Gevo Inc, Marathon Petroleum Corp, Bunge, Chevron, Bunge Chevron Ag Renewables, Thomson Locations: Rodeo , California, American, U.S, Peoria , Illinois, Columbus , Nebraska, Cedar Rapids , Iowa, Houston, , California, California, Paris, North Dakota, Bunge Chevron, New York, Chicago, Washington

☆ Google, Universal Music in talks for deal on AI 'deepfakes' - FT
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

Universal Music Group logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/FILE PHOTOAug 8 (Reuters) - Alphabet's (GOOGL.O) Google and Universal Music (UMG.AS) are in talks to license artists' voices and melodies for artificial intelligence-generated songs, Financial Times reported on Tuesday, citing four people familiar with the matter. The music industry is grappling with "deepfake" songs, made using generative AI, that mimic artists' voices, often without their consent. Discussions between Google and Universal Music are at an early stage and no product launch is imminent, while Warner Music (WMG.O) is also in talks with Google about a product, the report added. Reporting by Jaspreet Singh in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Jaspreet Singh, Shinjini Organizations: Universal, REUTERS, Google, Financial, Warner Music, Thomson Locations: Bengaluru

☆ FEC Commissioner Trey Trainor cleared of ethics violation after Insider reporting spurred investigation
▼ + stars: | 2023-08-08 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

In 2022, Insider reported that FEC Commissioner Trey Trainor was billed as a member of the "Trump Elections Team" at a local GOP event. Following the report, the FEC Office of the Inspector General opened up an investigation. The group did not find any ethics violations, though it said its investigation was hampered after Trainor and his counsel didn't cooperate. Following the report, the FEC's Office of the Inspector General began an investigation into Trainor's perceived ethical impropriety. "Neither Commissioner Trainor nor his counsel responded to numerous attempts over the course of several months by the OIG to schedule an interview," the report said.

Persons: Trey Trainor, Trainor, didn't, Donald Trump, General's, Allen Dickerson Organizations: Trump, GOP, FEC, Service, Trump Elections, Republican Party, OIG Locations: Wall, Silicon, Denton

☆ Top tanks worth millions and other expensive heavy armor are being hunted in Ukraine by cheap exploding drones worth only a few hundred bucks
▼ + stars: | 2023-08-08 | by ( Ryan Pickrell | ) www.businessinsider.com time to read: +11 min

Ukrainian and Russian heavy armor, including their better tanks, are facing a growing threat: FPV drones. Wojciech Grzedzinski/Anadolu Agency via Getty ImagesWhat are FPV drones? Instead, individual units are putting in orders for FPV drones, and these outfits are doing what they can to meet the demand. It is unclear if or how the FPV drones factored into this figure. Electronic warfare can have an effect on FPV drones, as can the rough cope cages some armored-vehicle crews have welded on their tanks and fighting vehicles to shield it from the exploding FPV drones, though not always.

Persons: Samuel Bendett, Wojciech Grzedzinski, David Hambling, Bendett, Steve Wright, Yuriy Mate, Jack Watling, Nick Reynolds, it's Organizations: Service, Center for Naval, Mechanized Brigade, Anadolu Agency, Getty, Army, Drones, Newsweek, Ukraine, Royal United Services, PBS Locations: Russian, Wall, Silicon, Ukraine, Russia, Ukrainian, Donetsk Oblast, China

☆ Distressed US corporate debt trading touches 11-month low: JPM
▼ + stars: | 2023-08-08 | by ( Matt Tracy | ) www.reuters.com time to read: +2 min

REUTERS/Stephanie Keith/File Photo/File PhotoAug 8 (Reuters) - The amount of U.S. corporate loans and bonds trading at distressed levels has reached its lowest in 11 months, according to a JPMorgan (JPM.N) research report on Tuesday. However, the volume of junk-rated corporate loans themselves trading at distressed levels has fallen for two consecutive months, nearing a year-to-date low in July, it said. At the end of July, $110 billion of outstanding loans traded at distressed levels. It marked the second straight month of declining distressed trading of junk-rated loans, after reaching a year-high in May, according to data in the report. At 22%, loans to junk-rated healthcare sector issuers made up the highest portion of distressed trading last month, according to the JPMorgan report.

Persons: Stephanie Keith, Shirley Singh, Singh, Matt Tracy, Deepa Babington Organizations: JPMorgan, REUTERS, Moody's Investors Service, Moody’s, Thomson Locations: New York City, U.S, . Federal

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