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☆ A Chinese fighter jet flew within 20 feet of a US military plane over the contested South China Sea, forcing it to take evasive action
▼ + stars: | 2022-12-30 | by ( Jake Epstein | ) www.businessinsider.com time to read: +3 min

A Chinese J-11 fighter jet flew within 20 feet of a US military aircraft over the South China Sea. US Indo-Pacific Command said the Chinese "flew an unsafe maneuver" during the December 21 encounter. The US plane, an RC-135 reconnaissance aircraft, had to take evasive action, the command said. A video of the incident released by the US military shows the Chinese J-11 jet flying alongside the RC-135. "We expect all countries in the Indo-Pacific region to use international airspace safely and in accordance with international law," the command added.

☆ Chinese jet came within 10 feet of U.S. military aircraft -U.S. military
▼ + stars: | 2022-12-29 | by ( Idrees Ali | Thomson Reuters | National Security Correspondent Focusing On The Pentagon In Washington D.C. Reports On U.S. Military Activity | ) www.reuters.com time to read: +4 min

The close encounter followed what the United States has called a recent trend of increasingly dangerous behavior by Chinese military aircraft. A U.S. military spokesperson said the Chinese jet came within 10 feet of the plane's wing, but 20 feet from its nose, which caused the U.S. aircraft to take evasive maneuvers. China claims vast swathes of the South China Sea that overlap with the exclusive economic zones of Vietnam, Malaysia, Brunei, Indonesia and the Philippines. In a meeting with his Chinese counterpart in November, U.S. Defense Secretary Lloyd Austin raised the need to improve crisis communications, and also noted what he called dangerous behavior by Chinese military planes. Australia's defence department said in June that a Chinese fighter aircraft dangerously intercepted an Australian military surveillance plane in the South China Sea region in May.

☆ 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.

☆ Chinese jet came within 20 feet of U.S. military aircraft- U.S. military
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Dec 29 (Reuters) - A Chinese military plane came within 20 feet (6 metres) of a U.S. air force aircraft and forced it to take evasive maneuvers to avoid a collision in international airspace over the South China Sea last week, the U.S. military said on Thursday. The close encounter followed what the United States has called a recent trend of increasingly dangerous behavior by Chinese military aircraft. The incident, which involved a Chinese Navy J-11 fighter jet and a U.S. air force RC-135 aircraft, took place on Dec. 21, the U.S. military added in a statement. In a meeting with his Chinese counterpart in November, U.S. Defense Secretary Lloyd Austin raised the need to improve crisis communications, and also noted what he called dangerous behavior by Chinese military planes. Reporting by Idrees Ali and Doina Chiacu Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

☆ Geodis’s Marie-Christine Lombard Sees Global Forces Continuing to Reshape Trade Flows
▼ + stars: | 2022-12-28 | by ( Paul Berger | ) www.wsj.com time to read: +6 min

Newsletter Sign-up The Logistics Report Top news and in-depth analysis on the world of logistics, from supply chain to transport and technology. MS. LOMBARD: The supply chain used to be quite seamless and fluid. The world order has a huge impact on the supply chain and its stability. The difference is that the supply chain itself was not disrupted. The entire supply chain is being rethought and recalibrated and re-costed.

☆ China sends 71 warplanes and 7 ships toward Taiwan in 24 hours
▼ + stars: | 2022-12-26 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

TAIPEI, Taiwan — China’s military sent 71 planes and seven ships toward Taiwan in a 24-hour display of force directed at the island, Taiwan’s defense ministry said Monday, after China expressed anger at Taiwan-related provisions in a U.S. annual defense spending bill passed on Saturday. Among the planes China sent toward Taiwan were 18 J-16 fighter jets, 11 J-1 fighters, 6 Su-30 fighters and drones. Shi was referring to the U.S. defense spending bill, which calls China a strategic challenge. China’s military has often used large military exercises as a demonstration of force in response to U.S. government actions in support of Taiwan. It conducted large live-fire military exercises in August in response to U.S. House Speaker Nancy Pelosi’s visit to Taiwan.

☆ Travel abroad is poised 'for a big comeback' in 2023 as Americans eye trips to Asia, Europe
▼ + stars: | 2022-12-25 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Jackyenjoyphotography | Moment | Getty ImagesAmericans are poised to travel overseas in a big way in 2023. Why travel abroad is poised 'for a big comeback'D3sign | Moment | Getty ImagesThirty-one percent of Americans are more interested in international than domestic travel, according to a recent poll by tourism market research firm Destination Analysts. It cited international travel among the top three trends for 2023, saying it's poised "for a big comeback." Karl Hendon | Moment | Getty Imageswatch nowWhere travel is ramping up mostHo Chi Minh City, Vietnam. Global demand for travel has played out similarly, with most interest directed at Europe and Asia, according to Expedia data.

☆ Russia condemns "militarization" of Japan under Kishida defence plan
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +2 min

Dec 22 (Reuters) - Russia accused Japan on Thursday of abandoning decades of pacifist policy and embracing "unbridled militarization", responding to a $320-billion defence plan announced by Prime Minister Fumio Kishida last week. Kishida's plan will double defence outlays to about 2% of gross domestic product over five years and make Japan the world's third-biggest military spender after the United States and China. It reflects Japan's concern that Russia's invasion of Ukraine sets a precedent that will encourage China to attack Taiwan. Russia said such a move will "inevitably provoke new security challenges and will lead to increased tension in the Asia-Pacific region". They have plummeted further since Russia invaded Ukraine in February, prompting Japan to join its Group of Seven (G7) partners in imposing sanctions on Moscow.

☆ Russia and China to hold joint naval drills this week
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +1 min

Dec 19 (Reuters) - Russia and China will hold joint naval drills between December 21-27, Russia's defence ministry said on Monday. The joint naval exercises, which have taken place annually since 2012, will involve missile and artillery firing in the East China Sea, Russia's defence ministry said. "The main purpose of the exercises is to strengthen naval cooperation between Russia and China, and maintain peace and stability in the Asia-Pacific region." Russia said four of its vessels would take part in the drills - including the Varyag missile cruiser - while six Chinese vessels would take part, along with aircraft and helicopters from both sides. Russian ships set sail on Monday from the Far Eastern port of Vladivostok to take part in the week-long exercises, which start on Wednesday.

☆ What could GOP control of the House mean for U.S.-China tensions?
▼ + stars: | 2022-12-18 | by ( Megan Lebowitz | ) www.nbcnews.com time to read: +10 min

McCarthy also says he plans to create a House select committee on China, the first since the late 1990s. House Republicans will also investigate the origins of the coronavirus and “the CCP’s role in the spread,” the blog post said, although it is unclear whether that investigation would be part of the select committee. Tensions were further inflamed in August by Pelosi’s Taiwan visit, the first by a sitting U.S. House speaker since 1997. The most volatile issue in U.S.-China relations is the status of Taiwan, which Beijing has not ruled out seizing by force. Speaker of the House Nancy Pelosi speaks with Taiwan's President Tsai Ing-wen in Taipei, Taiwan on Aug. 3, 2022.

☆ Asia's year in review: Who had it good — and who had it bad — in 2022
▼ + stars: | 2022-12-15 | by ( Curtis Chin | Jose Collazo | ) www.cnbc.com time to read: +7 min

As the new year approaches, we turn again to our annual look at Asia's winners and losers. Government and business leaders in every major economy — China now included — may well hope 2023 is the year when draconian pandemic-related lockdowns become a matter of history. Underscoring the Taiwanese tech industry's critical role, a Semiconductor Industry Association (SIA)/Boston Consulting Group 2021 study found that 92% of the world's most advanced semiconductor manufacturing capacity is located in Taiwan. With numbers like those, Taiwan's semiconductor industry ends the year on the move, still building ties and winning growing support from business and government in the United States and elsewhere. Mixed Year: Asia's 'love' for cryptoAs in much of the world, investors in Asia — once bedazzled if not bewitched by the crypto industry — end the year in a mixed mood.

☆ European markets head for negative open after hawkish Fed comments
▼ + stars: | 2022-12-15 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European stocks are heading for a lower open Thursday as global markets dip following the U.S. Federal Reserve's latest policy update. Major U.S. indexes and markets in the Asia-Pacific region reacted negatively after the Fed raised its benchmark interest rate to the highest level in 15 years and signaled it will maintain higher rates throughout 2023. Federal Reserve Chairman Jerome Powell said Wednesday that recent signs inflation might have peaked weren't enough for the central bank to ease off on interest rate increases. "It will take substantially more evidence to have confidence that inflation is on a sustained downward" path, Powell said during his post-meeting news conference. Thursday will also see monetary policy decisions from the Bank of England, European Central Bank and Swiss National Bank.

CNN —The Biden administration is finalizing plans to send the Patriot missile defense system to Ukraine that could be announced as soon as this week, according to two US officials and a senior administration official. Unlike smaller air defense systems, Patriot missile batteries need much larger crews, requiring dozens of personnel to properly operate them. The training for Patriot missile batteries normally takes multiple months, a process the United States will now carry out under the pressure of near-daily aerial attacks from Russia. Last month US Secretary of State Antony Blinken told CNN that the US is “very focused” on providing air defense systems to Ukraine. “We’re now very focused on air defense systems and not just us, many other countries,” Blinken told CNN’s Christiane Amanpour.

☆ Struggling sneaker brand Vans is trying to lure millennials away from Nike and other brands with nostalgia, high heat collabs, and better arch support
▼ + stars: | 2022-12-13 | by ( Danni Santana | ) www.businessinsider.com time to read: +6 min

But Harrer, who joined Vans from Dollar Shave Club in April 2021, noted that Vans wasn't reminding people about those classic shoes. Vans stopped marketing its classic sneakers for some time before resuming earlier this year with the "Classic Since Forever" campaign. "Our top-tier limited-distribution footwear, which you may know as Vans Vault, has previously met the needs of influential footwear-trend accounts in the past," he said. With Vans Vault, the company takes classic shoes and collaborates with popular designers and boutiques on new colorways. Vans Vault releases compete with Nike, Adidas, Converse, and others for the general sneaker lover.

☆ Taiwan pledges deeper Japan security cooperation as senior lawmaker visits
▼ + stars: | 2022-12-10 | by ( ) www.reuters.com time to read: +2 min

[1/2] Taiwan's President Tsai Ing-wen gives a speech on National Day in Taipei, Taiwan, October 10, 2022. REUTERS/Ann WangTAIPEI, Dec 10 (Reuters) - Taiwan President Tsai Ing-wen pledged on Saturday to deepen security cooperation with Japan to ensure freedom in the Indo-Pacific, during a meeting with a senior member of Japan's ruling Liberal Democratic Party (LDP). Meeting in the presidential office in Taipei, Tsai thanked Koichi Hagiuda, the LDP's policy chief, for Japan's support over issues like maintaining security in the sensitive Taiwan Strait. "We have seen in recent years Taiwan-Japan relations have become ever closer," she said. Japan has watched with growing concern China's belligerence towards Taiwan as Beijing seeks to assert its sovereignty claims over the island.

☆ Elon Musk told ex-Twitter CEO Jack Dorsey 'almost no one was working on child safety' when he took over
▼ + stars: | 2022-12-10 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

Elon Musk tweeted it was a "crime" child safety wasn't prioritized at Twitter before he took over. Former Twitter CEO Jack Dorsey responded via Twitter that Musk's claim was "false". Musk doubled down and added it was his "top priority" with new trust and safety chief Ella Erwin. Dorsey responded that Musk's claim was "false." Musk contradicted Dorsey and said: "When Ella Irwin, who now runs Trust & Safety, joined Twitter earlier this year, almost no one was working on child safety."

[1/2] BNP Paribas logo and stock graph are seen in this illustration taken, May 1, 2022. Investment banks typically use standardised job titles to mark career milestones, starting at analyst and culminating at managing director. "BNP Paribas is communicating corporate titles to employees in the London Branch that reflect their existing roles to standardise terminology across all business lines," a spokesperson told Reuters. A broker at BNP Paribas in London was awarded 2 million pounds ($2.45 million) in January, one of the biggest payouts in a UK equal pay suit. Deploying standardised job titles should make it easier for employees to understand where they rank on the bank's career ladder.

☆ UK, Japan, and Italy are joining forces to build a new next-generation fighter jet that can fight with artificial intelligence
▼ + stars: | 2022-12-09 | by ( Jake Epstein | ) www.businessinsider.com time to read: +3 min

Britain, Japan, and Italy are working to build a next-generation fighter jet together. The fighter jet will have cutting-edge weapons and advanced capabilities, such as the ability to work with uncrewed aircraft. Britain's defense ministry said in a release that it hopes to develop the fighter jet with various advanced capabilities such as cutting-edge weapons, innovative data systems, and advanced sensors. UK Prime Minister Rishi Sunak said that the aircraft's development, and partnership with Japan and Italy, highlights that "the security of the Euro-Atlantic and Indo-Pacific regions are indivisible." In a joint statement with Japan's defense ministry on Thursday, the US Department of Defense said it supports Tokyo's security cooperation with London and Rome.

☆ European markets head for flat open as nervousness over the global economy dominates sentiment
▼ + stars: | 2022-12-08 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a mixed open Thursday as investor nervousness continues over the state of the global economy and inflation. The U.S. Federal Reserve is expected to issue a 50 basis point interest rate hike next week and while that would be a smaller increase than recent rate hikes, investors are increasingly concerned about whether the central bank can avoid a recession next year in its attempt to squash inflation. U.S. stock futures were down slightly on Thursday morning following a fifth straight day of losses for the S&P 500 as Wall Street weighed the likelihood of a downturn. Sentiment was more buoyant in the Asia-Pacific region overnight. Hong Kong's Hang Seng index popped on Thursday, as a local news outlet reported the city is considering easing Covid measures further, including lifting its outdoor mask rule and relaxing mandatory testing for arrivals.

☆ Canada police suspends contract with China-linked company
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

Radio-Canada reported on Wednesday that Ottawa had awarded a contract worth about C$550,000 ($404,950) for a radio frequency filtering system to Ontario-based Sinclair Technologies in 2021. The equipment's uses include protecting the RCMP's land-based radio communications from eavesdropping, according to the report. Sinclair Technologies is a unit of British Columbia-based Norsat International, which was bought by Hytera Communications (002583.SZ) in 2017. The U.S. Federal Communications Commission has Hytera on its list of foreign communications equipment and service providers deemed threats to U.S. national security. Mendicino's spokesperson said the contract had been suspended, but declined to provide details.

☆ U.S. Plans Broad Increase of Military Presence in Australia
▼ + stars: | 2022-12-07 | by ( Mike Cherney | ) www.wsj.com time to read: +1 min

Australian Deputy Prime Minister and Minister for Defense Richard Marles, Australian Foreign Minister Penny Wong, U.S. Secretary of State Antony Blinken and U.S. Secretary of Defense Lloyd Austin at a joint news conference following an annual meeting among the two countries’ officials. SYDNEY—The U.S. said it would deploy more military assets in Australia, including air, land and sea forces, as the two countries agreed to deepen defense cooperation amid growing concerns about China’s actions in the Indo-Pacific region. Details remain to be worked out, though the two countries said they would place more munitions and fuel in Australia to support U.S. military activity, jointly develop airfields in northern Australia to support more rotations of U.S. aircraft, expand locations where U.S. troops can conduct exercises and further integrate their defense-industrial bases. They invited Japan, another ally, to participate in three-way military drills.

☆ Dollar edges up as darkening growth outlook hurts sentiment
▼ + stars: | 2022-12-07 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, Dec 7 (Reuters) - The dollar crept higher on Wednesday as top executives from the biggest U.S. banks warned of an impending recession, which dampened risk appetite and kept the greenback supported. Against the dollar, sterling fell 0.4% overnight, and was last 0.05% lower at $1.2128. It's part of our baseline," said Joseph Capurso, head of international and sustainable economics at Commonwealth Bank of Australia. Against a basket of currencies, the U.S. dollar index was last 0.05% higher at 105.60. The offshore yuan was last marginally higher at 6.9845 per dollar, having been supported by an easing of China's strictest COVID-19 restrictions.

☆ New Zealand Navy idles ships as labour crisis hits
▼ + stars: | 2022-12-07 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

The bottom line is "workforce issues are impacting ship availability to deliver naval outputs," an August note from the Chief of the Defence Force Air Marshal Kevin Short to the Minister of Defence said. The Defence Force said in May that it would spend 90 million New Zealand dollars ($57 million) over four years to raise the salaries of the lowest-paid workers. Having so few ships available makes it harder for the navy to handle multiple challenges at once, a New Zealand Defence Force (NZDF) spokesperson said. New Zealand's Defence Force is also dealing with ageing equipment and a large number of personnel being assigned to border quarantine facilities. Minister of Defence Peeni Henare acknowledged in an email that staff losses were hurting the Defence Force, but said the government was committed to rebuilding it.

☆ European markets head for mixed open as global sentiment wavers
▼ + stars: | 2022-12-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European stocks are heading for a mixed open on Wednesday as jitters set in over the state of the global economy. Sentiment has been mixed overnight with shares in the Asia-Pacific region trading in mixed territory, weighed down by major U.S. indexes that fell more than 1% each Tuesday as recession concerns grow. JPMorgan Chase CEO Jamie Dimon told CNBC on Tuesday that American consumers are still supporting the U.S. economy with consumer spending, but that may change in 2023. "Inflation is eroding everything I just said, and that trillion and a half dollars will run out sometime mid-year next year," Dimon said. "When you're looking out forward, those things may very well derail the economy and cause a mild or hard recession that people worry about."

☆ First-ever California offshore wind auction surpasses $757 million in bids
▼ + stars: | 2022-12-07 | by ( Emma Newburger | ) www.cnbc.com time to read: +2 min

The Biden administration on Wednesday announced more than $757 million in winning bids for its auction of offshore wind development rights in California, marking the third offshore wind lease sale this year and the first ever for the Pacific region. The sale is a major milestone in the administration's goal of building offshore wind turbines across the nation's coastlines to help power communities and transition to clean energy. The White House, as part of its broader agenda to address climate change, has committed to deploy 30 gigawatts of offshore wind energy by 2030, enough to power 10 million homes. "Floating wind technology in its early stages but it is an advanced technology that will lead to strong growth in the deployment of offshore wind." Winning bidders include California North Floating, RWE Offshore Wind Holdings, Central California Offshore Wind and Invenergy California Offshore.

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