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[1/2] U.S. President Joe Biden departs the White House to board the Marine One helicopter for travel to Delaware from the White House in Washington, U.S. January 13, 2023. The White House has said the documents were "inadvertently misplaced" and that it is cooperating fully but has declined to respond to detailed questions on the investigation. While working as the Obama campaign's general counsel in 2008, Bauer helped vet Biden as Obama's pick for vice president. He is married to Anita Dunn, another Biden confidant and senior White House adviser. Bauer will now work with White House lawyers as Biden responds to the special counsel's investigation.

☆ Analysis: Security, migration trump energy dispute at Biden Mexico summit
▼ + stars: | 2023-01-11 | by ( Dave Graham | ) www.reuters.com time to read: +5 min

The U.S. government appears reluctant to antagonize Mexico on energy lest it interfere with cooperation on the border and security, two far bigger U.S. domestic issues, analysts said. Under pressure from Republican opponents to curb record illegal crossings, the administration of Biden, a Democrat, has focused much of its dealings with Mexico on border security. Trump threatened Mexico with trade tariffs if it did not stem migrant flows, but he did little to upbraid Lopez Obrador over energy policies that U.S. firms say are unfair. And the Biden administration did contact U.S. energy companies ahead of the Mexico City summit to ask them how Mexico's policies have impacted their business operations there, according to a document seen by Reuters. Two Mexican officials said there was little advance on the energy dispute between Mexico and Washington this week.

Nearly 165 million people were either in jobs or looking for them last month, a record high that showed a long-hoped-for improvement in labor supply. Reuters Graphics Reuters GraphicsThe jobs report is "the embodiment of the soft landing narrative - this idea that can you have a strong labor market with slowing wage growth," said Simona Mocuta, chief economist at State Street Global Advisors. Ideally, she said, that should allow the Fed to slow and soon pause its interest rate hikes. Reuters Graphics Reuters GraphicsTraders took the report as evidence the Fed's work is near to being done. Still, she said, "inflation remains far too high, despite some encouraging signs lately, and is therefore of great concern."

☆ Here's where to invest to protect your portfolio against a recession in 2023, according to Goldman Sachs, JPMorgan, and 9 other Wall Street giants
▼ + stars: | 2023-01-04 | by ( James Faris | ) www.businessinsider.com time to read: +1 min

Top investment firms see plenty of risks to stocks and the economy this year. Here are the investment strategies Wall Street recommends following in 2023. Investors are hoping that 2023 will be a better year for markets after stocks disappointed to the downside in 2022, but Wall Street isn't convinced. Three firms think the S&P 500 will hit a ceiling at 3,900, while only one sees downside to 3,400. Below is a summary of views about stocks and the economy from each firm that Insider polled, as well as where they recommend investing in 2023.

☆ Saudi non-oil private sector activity eases in December
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Jan 3 (Reuters) - Growth in Saudi Arabia's non-oil business activity slowed to a three-month low in December, a survey showed on Tuesday, although higher sales and strong demand ensured firms remained confident about the outlook for the coming year. The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers' Index fell to 56.9 in December from 58.5 in November. However, the output subindex softened to 61 from November's 64.6 while the pace of growth in new orders also slowed. The Saudi government has estimated GDP growth of almost 9% in 2022, revised up from its earlier estimates, with the finance ministry attributing the adjustment largely to non-oil private sector activity. This made us comfortably project growth of non-oil GDP to exceed 4% in 2023."

☆ Musk's yes-men: 5 experts break down why it's difficult to 'speak truth to power.'
▼ + stars: | 2022-12-28 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +4 min

Like yesterday, we're continuing with some of the year's best stories from our VC and startups team. Why it's difficult to "speak truth to power." The top VC and startups stories of 2022:Union Square Ventures; 645 Ventures; Race Capital; Mindset Ventures; Marianne Ayala/Insider6. Former Amazon leaders have infiltrated the tech industry. After dominating the VC industry last year, crossover funds spent 2022 pulling back.

☆ 21% of investors don't think they pay investing-related fees. Here's why they're wrong — and how it costs them
▼ + stars: | 2022-12-19 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Damircudic | E+ | Getty ImagesMore than a fifth of investors don't think they pay any fees for their investment accounts, an industry survey has found. An additional 17% of investors in the recent poll said they didn't know how much they paid in fees. These firms — whether an investment fund or financial advisor, for example — generally levy investment fees of some kind. Here's the good news for many investors: Even if you haven't been paying attention to fees, they've likely declined over time. This is largely due to investors' preferences for low-cost funds, particularly so-called index funds, Morningstar said.

☆ Here's where to put your money in 2023 with a recession likely closing in, according to Goldman Sachs, JPMorgan, and 9 other Wall Street giants
▼ + stars: | 2022-12-17 | by ( James Faris | ) www.businessinsider.com time to read: +1 min

Top investment firms see plenty of risks to stocks and the economy next year. Here are the investment strategies Wall Street recommends following in 2023. Investors are hoping that 2023 will be a better year for markets after stocks disappointed to the downside in 2022, but Wall Street isn't convinced. However, even fewer firms are calling for substantial losses, as three firms think the S&P 500 will slip to 3,900, while only one sees downside to 3,400. Below is a summary of views about stocks and the economy from each firm that Insider polled, as well as where they recommend investing in 2023.

☆ Germany ups reliance on Huawei for 5G despite security fears -survey
▼ + stars: | 2022-12-16 | by ( Sarah Marsh | ) www.reuters.com time to read: +4 min

Many European countries have banned Chinese companies from all or part of their 5G networks on security grounds, amid intense diplomatic pressure from the United States. Germany, home to operators like Deutsche Telekom (DTEGn.DE) and O2 (O2Dn.DE), passed an IT security law two years ago setting high hurdles for makers of telecommunications equipment for the "critical components" of 5G networks. The German network agency referred Reuters to regulation that shows differentiated treatment for core and RAN components. The information security office did not reply to a request for comment on whether the high share of Chinese components could pose a security threat. A strategy paper by Germany's Greens-run economy ministry has recommended increased scrutiny of components from authoritarian states in critical infrastructure.

☆ U.S. blacklists Chinese firm selling video surveillance tech to Iran
▼ + stars: | 2022-12-15 | by ( Dan De Luce | Dan De Luce Is A Reporter For The Nbc News Investigative Unit. | ) www.nbcnews.com time to read: +7 min

“The Chinese Communist Party is weaponizing technology companies to further its geopolitical goals,” Rubio said in an email. Human rights advocates and lawmakers are concerned Iranian authorities could use Tiandy’s video surveillance technology to help squelch a wave of anti-regime protests in the country. The Biden administration last month effectively banned the sale or import of new equipment from a number of Chinese surveillance firms. China has strongly rejected U.S. criticism of Chinese tech companies and of its treatment of Uyghurs or other Muslim minorities in the country. But he said it was “absurd” to portray Chinese technology as a security threat.

HONG KONG, Dec 12 (Reuters Breakingviews) - Hong Kong’s bankers and officials fantasise about the moment China finally ditches its Covid-19 restrictions. Mainland Chinese firms account for eight of Hong Kong Exchanges and Clearing’s (0388.HK) ten largest ever IPOs. It remains faster for Chinese companies to list in Hong Kong, rather than join the long queue on the mainland. Hong Kong could also host more offerings from places like the Middle East and Southeast Asia, as Cha envisions. IPOs on the Hong Kong exchange have raised $7.1 billion so far in 2022, according to Refinitiv data for the year up to Dec. 7.

☆ Trade panel sides with Mexico, Canada in auto rules dispute, Mexico says
▼ + stars: | 2022-12-10 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Dec 9 (Reuters) - A dispute panel under a regional trade pact has sided with Mexico and Canada against the United States in a disagreement over regional content requirements for the auto sector, Mexico's presidency said on Friday in a tweet that was later deleted. "The decision could generate more incentives to generate auto parts in our country," the tweet said. Mexico's economy ministry told Reuters it would speak on the subject "once the resolution becomes official." Mexico is also in a trade dispute with the United States regarding its energy policies, which the United States calls nationalist and unfriendly to U.S. firms and a violation of the United States-Mexico-Canada Agreement (USMCA). Reporting by Kylie Madry and Adriana Barrera; Editing by Daina Beth Solomon and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Premarket stocks: The last time the US faced a debt fight this bad it lost its AAA rating
▼ + stars: | 2022-12-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

In a note on Monday, Goldman Sachs analysts warned that the upcoming debt limit battle in Washington could spark the most uncertainty since the disruptive 2011 debates that cost America its perfect AAA credit score and caused chaos on Wall Street. “To raise the debt limit next year, bipartisan support will be necessary but hard to achieve,” Goldman Sachs economists wrote in the report. Goldman Sachs analysts wrote that the political environment has “echoes of 1995 and 2011” — two very tense standoffs over the debt limit that hurt Main Street and Wall Street. Pain ahead: “It seems likely that uncertainty over the debt limit in 2023 could lead to substantial volatility in financial markets,” wrote Goldman analysts. “A failure to make timely payments would likely hit consumer confidence hard,” Goldman Sachs wrote.

☆ UK economy to shrink in 2023, risks 'lost decade': CBI
▼ + stars: | 2022-12-05 | by ( David Milliken | ) www.reuters.com time to read: +2 min

"Britain is in stagflation - with rocketing inflation, negative growth, falling productivity and business investment. Firms see potential growth opportunities but ... headwinds are causing them to pause investing in 2023," CBI Director-General Tony Danker said. The CBI's GDP forecast is less gloomy than that of the British government's Office for Budget Responsibility - which last month forecast a 1.4% decline for 2023. But the CBI forecast is in line with the Organisation for Economic Co-operation and Development (OECD), which expects Britain to be Europe's weakest performing economy bar Russia next year. The CBI forecast business investment at the end of 2024 will be 9% below its pre-pandemic level, and output per worker 2% lower.

☆ CBI says UK recession could turn into a 'lost decade' of growth
▼ + stars: | 2022-12-05 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN Business —The United Kingdom faces a “lost decade” of growth if action isn’t taken to address slumping business investment and worker shortages, a leading business lobby group has warned. “Britain is in stagflation — with rocketing inflation, negative growth, falling productivity and business investment. The CBI expects the UK economy to shrink by 0.4% in 2023 — a significant downgrade from the growth of 1% it predicted in June. The group expects business investment to fall from the middle of next year, leaving it 9% below its pre-pandemic level at the end of 2024. “We cannot afford to have another decade where both [investment and productivity] are stagnant,” Danker said.

☆ Banker bonuses are set to be so bad even the firm's revenue drivers are going to get dinged
▼ + stars: | 2022-12-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

A man pauses outside of the New York Stock Exchange (NYSE) on January 15, 2016 in New York City. While they aren't internally announced and paid until early next year, firms are wrapping up discussions about the size of bonus pools that divisions will be able to disperse from. And for many firms, the pools are being resized from Olympic to kiddie. The Financial Times reported Friday that JPMorgan Chase, Citigroup, and Bank of America are considering cutting bonus pools within M&A and IPO teams by 30%. More on how crypto firms are hoping ads can quell trust concerns.

☆ Yellen says U.S. firms should be mindful of China-Taiwan geopolitical risks
▼ + stars: | 2022-11-30 | by ( David Lawder | ) www.reuters.com time to read: +3 min

But we are seeing a range of geopolitical risks rise to prominence, and it's appropriate for American businesses to be thinking about what those risks are." U.S. companies are beginning to think about such supply chain risks more seriously, including over Taiwan and Chinese practices that have raised national security concerns, Yellen said. But she said continued strong business ties between the United States and China were important for the global economy. It would not be beneficial "either to the United States or to China or to the global economy to see that erode." Yellen also said China's persistent COVID-19 lockdowns were disrupting production and hampering efforts to end disruptions to global supply chains and rebuild goods inventories.

☆ The latest terrible news for the stock market: The economy is booming again
▼ + stars: | 2022-11-30 | by ( Neil Dutta | ) www.businessinsider.com time to read: +7 min

Yes, the Fed has slowed activity in certain corners — most notably the housing market — but by and large the economy is still standing. When that happens, investors and consumers better buckle up: There will be more pain ahead for the stock market and the US economy. For a Fed that is trying to slow the economy, this is not a welcome development. At a minimum, it's tough to cut interest rates when the economy is defying expectations. If that's right, we might be seeing yet another false dawn in the stock market.

☆ U.S. Treasury Yellen: Twitter should be held to certain standards for content
▼ + stars: | 2022-11-30 | by ( David Lawder | ) www.reuters.com time to read: +2 min

NEW YORK, Nov 30 (Reuters) - U.S. Treasury Secretary Janet Yellen on Wednesday said social media company Twitter should be held to certain standards for content, arguing that it is "not that different" from radio stations and broadcasters subject to such rules. Musk on Monday accused Apple of threatening to block Twitter from its app store and said Apple was pressuring Twitter over content moderation demands. Yellen said she believed it was appropriate for mobile technology giants Apple (AAPL.O) and Google (GOOGL.O) to demand certain content standards. And Twitter's not really that different than other broadcast stations," Yellen said. Asked if it was good that such platforms were overseeing content, Yellen said.

☆ Treasury outlines wage, apprenticeship requirements for clean energy tax credits
▼ + stars: | 2022-11-29 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

"I want to send a message to investors, developers, contractors looking at clean energy projects," said Labor Secretary Marty Walsh. The Inflation Reduction Act, which became law in August, allocated $369 billion toward addressing climate change through clean energy initiatives. Firms have to pay workers the prevailing wage for their area and abide by rules for the use of apprenticeship programs. The prevailing wage and apprenticeship requirements are needed for companies to receive the Advanced Energy Project Credit, the Alternative Fuel Refueling Property Credit, the Credit for Carbon Oxide Sequestration, the Clean Fuel Production Credit, the Credit for Production of Clean Hydrogen, the Energy Efficient Commercial Buildings Deduction, the Renewable Energy Production Tax Credit and the Renewable Energy Property Investment Tax Credit. The prevailing wage stipulation is also required for the New Energy Efficient Home Credit and the Zero-Emission Nuclear Power Production Credit.

SummarySummary Companies Coal miners struggling to fund expansion plansThermal coal costs more than coking coal after price surgeMost Western bankers pulling back from coal industryLONDON, Nov 24 (Reuters) - It's the best of times, it's the worst of times. At least when it comes to mining coal. With funding hard to come by from Western banks, coal miners outside China have turned more to equity markets this year. "With regard to thermal coal mining, any transaction in coal mining requires an enhanced environmental risk review," a Deutsche spokesperson said, adding that the bank was updating its coal policy. Bens Creek listed shares partly because of the lack of appetite from banks to support any expansion of coal mining, chief executive Wilson said.

☆ European ministers to debate sharp increase in space funding
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +3 min

[1/2] Logos of ArianeGroup and the ESA (European Space Agency) are seen on a rocket model at the entrance of the International Astronautical Congress (IAC) space exploration conference in Paris, France, September 19, 2022. Other initiatives include extending Europe’s global navigation system into low Earth orbit and kickstarting a new satellite mission, Harmony, to expand climate research. Ministers will seek to close a narrow funding gap for Ariane 6 rockets and discuss the future of emerging micro-launchers. In a recent interview, ESA Director General Josef Aschbacher urged rapid global action to tackle congestion in low Earth orbit including a ban on ASAT or anti-satellite weapons tests. Even without such threats, the sheer number of satellites and fragments of debris in low Earth orbit raises concerns.

☆ U.S. export restrictions of powerful chips to China hurt now, but should prove bullish long term
▼ + stars: | 2022-11-21 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

The advanced chips are what we want to focus on as those represent the big risk to the current world order should they fall into the wrong hands. As a result, it is simply too risky to allow China to continually gain an increasing controlling position over the semiconductor manufacturing process. For this reason, we think that as painful as it may be in the near term, the U.S. isn't wrong to block advancement in China. Lastly, don't forget, thanks to the latest restrictions, U.S. citizens risk losing their citizenship should they choose to help China pursue its advanced chip production goals. Along with these defensive actions, we are pleased to see more domestic support for the semiconductor industry.

☆ U.S. Audit Watchdog Looks to Strengthen Rules on Quality Controls
▼ + stars: | 2022-11-18 | by ( Mark Maurer | ) www.wsj.com time to read: +5 min

The regulator inspects audit firms’ approach to quality controls as part of its reviews. Fourteen audit firms issued audit reports for over 100 businesses apiece last year, the PCAOB’s website shows. Audit firms would have to conduct the first evaluation of their quality controls by the following Nov. 30. It is considering revising changes to rules on confirmations, a process by which audit firms obtain and evaluate audit evidence from independent third parties. The regulator is working to update more than 30 audit rules related to 10 of its standard-setting projects, many of which refer to outdated technology.

The move angered foreign governments and foreign-owned carmakers who say the change will disqualify a majority of their EV fleets from North American markets. "But it should not have negative side effects on their European allies and the European economy." South Korean President Yoon Suk-yeol also spoke to Biden about the issue during a bilateral meeting at the G20 summit, according to Yoon’s office. The Treasury is working to define the rules for some $278 billion worth of tax credits on EVs, solar and wind power investments and a range of other technologies. While a number of countries have said the U.S. tax credits likely violate World Trade Organization rules, none have sought to file a formal challenge.

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