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Companies Morgan Stanley FollowMarch 15 (Reuters) - The top U.S. markets regulator announced a package of proposed policies on Wednesday designed to harden the financial system against hacking, data theft and systems failure. Broker-dealers, securities exchanges and others would also be required to maintain cybersecurity risk policies and notify the SEC "immediately" of "significant" incidents. Gensler, in prepared remarks, called the proposal "the first explicitly to address cybersecurity practices for the majority of these market entities." A similar proposal last year for investment firms called for confidential notice within 48 hours, drawing objections that this could hinder efforts to respond to hacking incidents quickly. Reporting by Douglas Gillison; Editing by Leslie Adler and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

The summit is the same week as major South Korea-U.S. military drills that routinely anger Pyongyang, and North Korea has already staged multiple missile launches - a backdrop for the message that Japan, South Korea and the United States need to close ranks. In November South Korea and Japan agreed to exchange real-time intelligence on North Korea's missile launches, which experts say will help both countries better track potential threats. "South Korea is already taking a side and entering the Cold War," said Kim Joon-hyung, a former chancellor of the Korean National Diplomatic Academy. Yoon said high-tech cooperation on supply chains between Japan and South Korea would contribute significantly to economic security. 'SHARED INTERESTS'Washington had pressed for reconciliation, but a State Department spokesperson said the recent arrangements were the result of bilateral discussions between Japan and South Korea.

☆ Britain's Sunak boosts defence spending to try to silence critics
▼ + stars: | 2023-03-12 | by ( Elizabeth Piper | ) www.reuters.com time to read: +4 min

With his government unveiling the update to Britain's national security and international policy, Sunak, on a visit to the U.S., will also set out an "ambition" to increase defence spending to 2.5% of gross domestic product in the longer term. He said his previous increases to defence spending showed he was a man of his word, and described the new commitments as a "strong and positive statement". COUNTERING CHINAMeeting U.S. President Joe Biden and Australian Prime Minister Anthony Albanese, Sunak will want to underline that the increase in spending will only bolster the AUKUS pact. Instead, Britain will seek to engage China and be robust in defending the things it cares about, he said. The island, increasingly concerned about the threat from China, was left out of the earlier document which was published in 2021.

☆ Venture Capital Investors Are Trying to Take Over Pandemic Response
▼ + stars: | 2023-03-12 | by ( Adam Rogers | ) www.businessinsider.com time to read: +19 min

Private capital has been eyeing public health for years. Several founders and investors told me that the failure of Kleiner's fund made Silicon Valley wary of investing in pandemic preparedness. Venture investors love that kind of thing. Public health and private industryWhen COVID hit, Charity Dean was the assistant director of the California Department of Public Health. In the end, almost every pandemic-related product created by Silicon Valley will ultimately require the government as a primary customer.

☆ Biden's budget pushes to renew bigger child tax credit payments for families
▼ + stars: | 2023-03-10 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

President Joe Biden's proposed budget for fiscal 2024 includes a host of proposals aimed at helping families. That includes one key proposal — the reinstatement of the enhanced child tax credit that temporarily gave qualifying parents up to $3,600 per child for 2021 through the American Rescue Plan. Biden's plan calls for raising the current maximum child credit from $2,000 per child to $3,600 per child under age 6 or to $3,000 per child ages 6 and up. The budget also calls for permanently making the child tax credit fully refundable, which means people would still be eligible even if their tax liability was less than the credit amount. The earned income tax credit would be permanently expanded for childless workers, with the goal of keeping low-paid workers out of poverty.

Reuters reported last week that the United States and EU were working to make European minerals eligible for tax credits under the $430 billion U.S. Inflation Reduction Act (IRA), citing a senior EU official. That law requires rising percentages of battery minerals to come from the United States or a Free Trade Agreement (FTA) partner. Working with allies to reduce U.S. reliance on China for critical minerals would aid U.S. energy and economic security, the spokesperson added. The EU, South Korea, Japan and other U.S. allies have harshly criticized the IRA's provision requiring EVs to be assembled in North America to qualify for consumer EV tax credits. But the EU in December praised a U.S. Treasury Department decision to allow EVs leased by consumers to qualify for up to $7,500 in commercial clean vehicle tax credits.

☆ S.Korea's Yoon says cooperation with US, Japan key to overcoming N.Korea threats
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

[1/2] South Korea's President Yoon Suk Yeol speaks during a ceremony of the 104th anniversary of the March 1st Independence Movement Day against Japanese colonial rule, in Seoul on March 1, 2023. Jung Yeon-Je/Pool via REUTERSSEOUL, March 1 (Reuters) - South Korean President Yoon Suk-yeol said on Wednesday that trilateral cooperation with the United States and Japan has become more important than ever to overcoming North Korea's growing nuclear threats and other crises. Yoon spoke at an event commemorating the country's historic March First independence movement against Japan's 1910-1945 occupation of Korea. "Japan has transformed from a militaristic aggressor of the past into a partner that shares the same universal values with us," said Yoon. Though Japan and South Korea are at times uneasy neighbours, the three countries are keen to expand cooperation in various fields in the face of increased global tensions, a more assertive China and an unpredictable North Korea.

☆ South Korea, US, Japan meet on supply-chain resilience
▼ + stars: | 2023-02-28 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

[1/3] FILE PHOTO-South Korean President Yoon Suk-yeol speaks at an interview with Reuters in Seoul, South Korea, November 28, 2022. REUTERS/Daewoung KimSEOUL, Feb 28 (Reuters) - Officials from South Korea, the United States and Japan have held their first economic security dialogue, South Korea's presidential office said on Tuesday, amid efforts to strengthen the resilience of supply chains and develop technology. Though Japan and South Korea are at time uneasy neighbours, the three countries are keen to expand cooperation in various fields in the face of increased global tensions, a more assertive China and an unpredictable North Korea. "This dialogue is meaningful in expanding bilateral economic security cooperation with the United States to the trilateral level," the office of South Korean President Yoon Suk-yeol said in a statement. The United States has accused China and Russia of weaponising supply chains to disrupt the global economy and stoke geopolitical tension.

☆ Democratic Rep. Elissa Slotkin Enters Race for Michigan Senate Seat
▼ + stars: | 2023-02-27 | by ( Siobhan Hughes | ) www.wsj.com time to read: 1 min

Michigan Rep. Elissa Slotkin is a former CIA analyst and Pentagon official. WASHINGTON—Michigan Rep. Elissa Slotkin said she plans to run for the Senate in 2024 to succeed the retiring Sen. Debbie Stabenow, the first big-name candidate to enter the contest as Democrats try to hang on to the seat in a competitive state. “There are certain things that should be really simple—like living a middle-class life in the state that invented the middle class,” she said in a statement and video. “Like making things in America, so that we’re in control of our own economic security. Like protecting our children from the things that are truly harming them.”

☆ Supreme Court will hear case challenging Consumer Financial Protection Bureau funding
▼ + stars: | 2023-02-27 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

The Supreme Court on Monday agreed to hear arguments in a case challenging the constitutionality of funding for the Consumer Financial Protection Bureau. The order taking the case came four months after a federal appeals court panel unanimously ruled that the CFPB's funding mechanism was unconstitutional. The Biden administration had asked the Supreme Court to hear its appeal of that ruling. CNBC has requested comment from the Community Financial Services Association of America, the group that challenged the CFPB's authority in the case. The court, in its 5-4 ruling that year, said that the director must be removable by the will of the president, for any reason.

☆ Reflecting sunlight to cool the Earth must be studied before climate change gets much worse, urges group of 60 scientists
▼ + stars: | 2023-02-27 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +7 min

Greenhouse gas emissions must be immediately and urgently reduced, as that's the only permanent way to limit global warming. "Even with aggressive action to reduce GHG emissions it is increasingly unlikely that climate warming will remain below 1.5-2°C in the near term," the scientists wrote. "Aerosols from human activities are currently estimated to be offsetting about a third of greenhouse gas climate warming," the scientists wrote. Cirrus cloud thinning, CCT, which involves putting aerosols into cirrus clouds to reduce the amount of infrared radiation that the Earth retains. In some cases, they might be less harmful if used in some combination, the scientists wrote.

A year from Russia's invasion of Ukraine, fracturing geopolitics seems to be rolling back world trade links and financial interdependence at speed. But global financial conditions - and the strength of the U.S. dollar as a proxy for that - may be playing a bigger part than the more dramatic political narrative lets on. "A stronger dollar tends to go hand in hand with tighter global financial conditions and more subdued supply chain activity." Compensating somewhat for dollar exchange rate strength over the decade were historically low real dollar borrowing rates. There's little doubt that the pandemic and the geopolitics surrounding Ukraine and Taiwan have been major potential disruptions to world trade by themselves.

LONDON, Feb 20 (Reuters) - The British government on Monday launched its new energy efficiency taskforce and named NatWest (NWG.L) boss Alison Rose as its co-chair to reduce the country's energy consumption and cut household bills. The taskforce will devise a plan to reduce total UK energy demand by 15% by 2030 compared to 2021 levels across domestic and commercial buildings and industrial processes, the government said in a statement. Hunt is due to attend a summit on Tuesday with chief executive officers, founders and leaders from the country's green companies, the government added. The taskforce also includes Department for Energy Security and Net Zero Minister Lord Martin Callanan as co-chair. "Improving energy efficiency will not only drive a lower carbon environment, but also deliver greater economic security," said Rose who is the chief executive officer of state-owned lender NatWest.

☆ Exclusive: AFL-CIO wants bigger say in U.S. digital trade deals for workers
▼ + stars: | 2023-02-07 | by ( David Lawder | ) www.reuters.com time to read: +4 min

WASHINGTON, Feb 7 (Reuters) - The Biden administration has made digital trade the centerpiece of its trade negotiations, and the AFL-CIO wants a bigger say in how the U.S. Trade Representative's office sets goals in this area, arguing they are too often dictated by big technology companies. The USTR is expected to soon propose text on the digital chapter in negotiations for the Indo-Pacific Economic Framework, the Biden administration's signature economic agreement. U.S. Trade Representative Katherine Tai has pledged to create a "worker-centric" trade policy, but the AFL-CIO said digital trade negotiations too often make no mention of labor standards nor the workers who write software or support networks. "Corporations shouldn't dictate the rules of the global digital economy with no regard for working people," AFL-CIO President Liz Shuler said in a statement. Other AFL-CIO demands for digital trade negotiations include:- Requiring governments to enact strong policies to safeguard individuals' personal data as opposed to the current largely voluntary "self-regulation" model that has proven inadequate.

☆ Fact Check-Company affiliated with Matt Gaetz had $482,321 in PPP loans forgiven
▼ + stars: | 2023-02-03 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Republican U.S. Representative Matt Gaetz owned corporate stock in a company that received nearly $500,000 in Paycheck Protection Program (PPP) loans forgiven in 2020, but users online are claiming that he personally received PPP loan forgiveness without owning a company. A Twitter post said: “Don’t forget, Matt Gaetz had $482,321 in PPP loans forgiven despite the fact that he doesn’t own a company. The Pandemic Response Accountability Committee (PRAC), which was created as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), includes a dashboard to search for all the PPP loans forgiven (here). A search for Caregivers, Inc. on the PRAC PPP dashboard shows that it received $482,321 in PPP loans forgiven to cover payroll, which matches the amount in the social media posts (see the “PPP Details” section). U.S. Rep. Matt Gaetz did not personally receive $482,321 in PPP loans forgiven, but he owned stock in a company that received loan forgiveness during the pandemic.

☆ Ukrainian authorities raid home of billionaire Kolomoiskiy
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

KYIV, Feb 1 (Reuters) - Ukrainian state security officials searched the home of billionaire businessman Ihor Kolomoiskiy on Wednesday, in what several media outlets said was an investigation into possible financial crimes. The Security Service of Ukraine (SBU) did not immediately reply to a request for comment about the reports, and Kolomoiskiy could not be reached for comment. Ukrainian anti-corruption officials are also investigating a case in which they suspect eight people of embezzling assets and funds from a state-controlled oil company formerly tied to Kolomoiskiy. The United States sanctioned him in 2021 "due to his involvement in significant corruption". U.S. authorities have also alleged Kolomoiskiy and a business partner laundered stolen funds through the United States.

WASHINGTON — President Joe Biden will meet with House Speaker Kevin McCarthy, R-Calif., on Wednesday, a White House official confirmed to NBC News, amid Republicans’ debt-ceiling showdown with Democrats. McCarthy first announced that he'll meet Biden this week to discuss the debt ceiling in an interview on CBS’ “Face the Nation” earlier Sunday. The House speaker said Republicans would not allow the U.S. to default and expressed an interest in reaching an agreement with the president. House Republicans have been demanding spending cuts in exchange for lifting the debt ceiling and averting a default on U.S. debt. The White House previously said there won’t be any negotiations, and Congress must allow the government to pay its bills.

☆ Japan eyes easing S.Korea export controls as Seoul seeks to improve ties -media
▼ + stars: | 2023-01-28 | by ( Kantaro Komiya | ) www.reuters.com time to read: +2 min

TOKYO, Jan 28 (Reuters) - Japan is considering relaxing controls on exports to South Korea as its president, Yoon Suk-yeol, seeks to improve ties amid a strained East Asian security environment, the Sankei newspaper reported on Saturday. Japan's foreign ministry and trade ministry officials were not immediately available for comment on the report when Reuters contacted them outside regular business hours. "Given the growing need to promote cooperation among countries sharing universal values at a time when the importance of economic security is increasing, we hope that Japan will judge wisely," the South Korean ministry said. Their diplomatic officials are due to meet on Monday in the South Korean capital, Seoul, as they near a conclusion of a plan for the resolving their dispute, Jiji news reported on Friday. Reporting by Kantaro Komiya; Additional reporting by Joyce Lee in Seoul; Editing by William Mallard, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ Virginia Gov. Youngkin stokes 2024 campaign speculation after killing Ford battery plant over China links
▼ + stars: | 2023-01-22 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +7 min

But this week, Virginia Republican Gov. (Virginia doesn't allow governors to serve consecutive terms, so Youngkin can't seek re-election.) “There’s a logic to the politics of Youngkin’s decision,” said Liam Donovan, a Republican strategist and lobbyist. Gretchen Whitmer telling the Detroit News that Youngkin’s “political determination” created an “exciting opportunity” for her state. “Carlyle makes a lot of money out of China,” said Surovell, the Democratic state senator.

☆ Amazon's AWS to invest $35 bln in Virginia
▼ + stars: | 2023-01-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 20 (Reuters) - Amazon.com Inc's (AMZN.O) cloud services division said Friday it plans to invest another $35 billion by 2040 to expand data centers in Virginia. Amazon Web Services (AWS) said the new investment will create 1,000 jobs. Virginia Republican Governor Glenn Youngkin said AWS will establish multiple data center campuses across Virginia. In 2021, AWS said from 2011 to 2020 it had invested $35 billion in data centers located in northern Virginia and had 3,500 full time employees at its data centers in the state. AWS also will be eligible to receive a state grant of up to $140 million "for site and infrastructure improvements, workforce development, and other project-related costs."

New hardline ministers like Itamar Ben-Gvir, a settler from Hebron, will be in charge of police as national security minister, while Bezalel Smotrich, another far-right politician, will have wide control over policy in the West Bank. "Fatah sons, Hamas sons, sons of the Islamic Jihad and the Popular Front are working together within unprecedented resistance formations," Maamar said. Under Israeli policies designed to create economic security incentives, 20,000 Gazans are allowed to cross into Israel for work. For its part, Palestinian Authority officials say Hamas is funding some armed cells in the West Bank, in part to weaken the PA, and Israeli officials say they are also closely watching Hamas' moves in the West Bank. Israel should "weaken the Hamas militarily as much as possible" while helping to improve conditions for Palestinians in both Gaza and the West Bank to reduce the potential for conflict, Ben-Barak said.

☆ As U.S. unemployment improved, it worsened for Latinos and Black women
▼ + stars: | 2023-01-13 | by ( Rikki Klaus | ) edition.cnn.com time to read: +3 min

Not everyone is celebrating, however: Jobless rates for Black women and Latino men still haven’t recovered fully from the pandemic. The unemployment rate for Black women aged 20 years and older rose to 5.5% in December, from 5.2% in November, according to the Bureau of Labor Statistics. For Latino men, unemployment rose 0.4 percentage points to 4% last month, higher than the 3.1% unemployment rate in February 2020. The Fed effectThe government’s current response to inflation may also be playing a role in rising unemployment for Latino men and Black women, Bahn said. In April 2020, the Hispanic unemployment rate shot up to 18.1% after hovering at around 4% pre-pandemic, BLS data shows.

Kishida, who will host a summit of the Group of Seven (G7) industrial powers in May, will meet leaders of the United States, Britain, France, Italy and Canada this week. "As leader of the G7 chair this year, I'll be making this visit to reaffirm our thinking on a number of issues," Kishida told a Sunday news programme. "With the United States, we'll discuss deepening our bilateral alliance and how to maintain a free and open Indo-Pacific." On semiconductors, Japan and the United States are deepening cooperation on advanced chip development amid growing trade tension with China. "Holding a successful G7 summit would bring him maximum political points - and this trip is preparation for that," said Airo Hino, a political science professor at Waseda University.

David Mareuil/Pool via REUTERS/File PhotoJan 3 (Reuters) - U.S. President Joe Biden will hold talks with Japan Prime Minister Fumio Kishida at the White House on Jan. 13 to discuss North Korea, Ukraine, China's tensions with Taiwan, and a "free and open Indo-Pacific," the White House said on Tuesday. The White House said Biden will reiterate his full support for Japan’s recently released National Security Strategy. "The leaders will celebrate the unprecedented strength of the U.S.-Japan Alliance and will set the course for their partnership in the year ahead," said the statement from White House press secretary Karine Jean-Pierre. On a visit to Japan in May, Biden applauded Kishida’s determination to strengthen Japanese defense capabilities. "Japan’s defense strategy calls for the introduction of U.S.-made Tomahawk cruise missiles in the near term, but does not specify a timeline.

☆ Taiwan to plough $12 bln in excess tax revenue back into economy in 2023
▼ + stars: | 2022-12-31 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, Dec 31 (Reuters) - Taiwan will plough an extra T$380 billion ($12.43 billion) in tax revenue back into the economy in 2023 to help protect the island from global economic shocks, including subsidies for electricity prices, President Tsai Ing-wen said on Saturday. Tsai, in a statement from her office following a meeting of senior economic officials, said the government must make preparations in advance for the "more severe challenges" the global economy faces in 2023. For 2023, it projected GDP would grow 2.53%, compared with an earlier forecast of 2.9%. The economy grew 4.01% in the third quarter from a year earlier. ($1 = 30.5770 Taiwan dollars)Reporting by Jeanny Kao; Writing by Ben Blanchard; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

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