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☆ US leaders who want to send billions more in aid to Ukraine need to ask what kind of war they're willing to pay for
▼ + stars: | 2022-11-30 | by ( Andrew C. Jarocki | Defense Priorities | ) www.businessinsider.com time to read: +6 min

The final weeks of the current Congress will feature debate over another aid package for Ukraine. Before opening the checkbook again, lawmakers need to ask how they want this war to end and how more aid will bring it about. Before Washington opens the checkbook again, lawmakers need to subject aid proposals to a simple Petraeus Test. So far, the story of American support of Ukraine against Russia's terrible invasion attempt has been one of unhesitating generosity. At the very least, legislators must push advocates of more aid for Ukraine to explain exactly how America's national security would be enhanced.

☆ Israel’s Netanyahu given chance to form far-right government
▼ + stars: | 2022-11-11 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

He will formally present Netanyahu with the task on Sunday and give him a month to cobble together a governing coalition with a majority in the 120-seat Knesset. Netanyahu had governed Israel for 12 successive years before being being ousted by a broad but fragile coalition in 2021. Those recommending Netanyahu included Ben Gvir’s Jewish Power party, the ultranationalist Religious Zionist party, the openly homophobic Noam faction, and other ultra-Orthodox parties. Like its previous repeated elections, Israel’s Nov. 1 vote was largely centered on Netanyahu’s fitness to rule. Critics see him as a crook who threatens Israel’s democratic institutions by placing his legal woes above the national interest.

He'll hold his first face-to-face meeting with Chinese counterpart Xi Jinping at the G20, where he hopes to explore Xi's "red lines", talk to allies about punishing Russia for its Ukraine invasion and discuss containing North Korea after a barrage of missile tests. On Wednesday, Biden said U.S. aid for Ukraine will continue uninterrupted and any territorial compromise between the two countries is up to Ukraine. Putin will not attend the G20 summit in person but is due join one of the meetings virtually, an Indonesian government official said. They will address North Korea's "unlawful weapons of mass destruction and ballistic missile programs," the official said. Biden will "continue to urge the Egyptian government to release political prisoners and undertake human rights related legal reforms," said one of the officials.

☆ Australia aims to cut tax breaks for pension funds of the super rich
▼ + stars: | 2022-11-07 | by ( Praveen Menon | Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

Prime Minister Anthony Albanese's Labor government, which came to power in May, aims to debate the curtailment of tax concessions once it legislates on the future of superannuation -or retirement funds. Curtailment of tax concessions paid to people with multi-million-dollar superannuation accounts would raise billions of much-needed dollars annually for the government. "We have 32 self-managed super funds with more than $100 million in assets - the largest self-managed super fund has over $400 million in assets," Assistant Treasurer and Minister for Financial Services Stephen Jones said at the AFR Super & Wealth Summit in Sydney. Jones said providing a clear objective for super funds will enable the sector to identify opportunities where the national interest and member interests align. The government last month said it had discussions with super funds to look at investing in affordable housing projects, to help fix a housing crisis.

☆ Ukraine's attack on one of Russia's most important bases shows Putin is losing his grip on the Black Sea
▼ + stars: | 2022-11-03 | by ( Robert Farley | ) www.businessinsider.com time to read: +7 min

Sevastopol is vital to Russian power-projection in the Black Sea, the Mediterranean, and beyond. (The frigate, Admiral Makarov, became the flagship of the Black Sea Fleet upon the sinking of the cruiser Moskva). Moreover, Ukraine's access to Western anti-ship missiles has already made the Black Sea inhospitable for Russian ships. Russia's hold on the Black Sea slipsRussian President Vladimir Putin at a military parade in Sevastopol on May 9, 2014. In the longer-term, Russia's centuries-long grip on the Black Sea may well be slipping away, with potentially huge implications for Russia's role on the international stage.

☆ UK delays highly-anticipated fiscal statement to Nov. 17
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

Hunt also said the fiscal plan would now be a "full autumn statement". read moreThe plan, which was previously scheduled for Oct. 31, will show debt falling over the medium term, Hunt said. "I'm willing to make choices that are politically embarrassing if they're the right thing to do for the country, if they're in the national interest," Hunt said. "We have a new prime minister, the prospect of much longer term stability for the economy and the country. Reporting by William James, writing by Muvija M; Editing by Sachin RavikumarOur Standards: The Thomson Reuters Trust Principles.

☆ Key moments from Italian PM Meloni's maiden speech
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +6 min

ROME, Oct 25 (Reuters) - New Italian Prime Minister Giorgia Meloni unveiled her policy priorities in her maiden speech to the lower house of parliament on Tuesday. "It will be necessary to maintain and strengthen national measures to support households and businesses, both on bills and fuel. ECONOMY/TAXES/PENSIONS"The context in which the government will have to act is very complicated, perhaps the most difficult since World War Two." "Our firms are asking above all for less bureaucracy ... we need fewer rules but rules that are clearer for everyone." "We do not intend in any way to question the right of asylum for those fleeing war and persecution."

☆ How Google's former CEO Eric Schmidt helped write AI laws in Washington without publicly disclosing investments in AI start-ups
▼ + stars: | 2022-10-24 | by ( Eamon Javers | ) www.cnbc.com time to read: +18 min

'Conflict of interest'Schmidt's investment was just the first of a handful of direct investments he would make in AI start-up companies during his tenure as chairman of the AI commission. Altogether, Schmidt and entities connected to him made more than 50 investments in AI companies while he was chairman of the federal commission on AI. To Poulson, Schmidt was simply given too much power over federal AI policy. The new entity would continue the work of the congressionally created federal commission, with many of the same goals and much of the same staff. More than a dozen staffers from the federal commission followed Schmidt to the new private sector project.

☆ Boris Johnson May Be the Last Best Hope of the Tories
▼ + stars: | 2022-10-23 | by ( Dominic Green | ) www.wsj.com time to read: +1 min

The resignation of Liz Truss after only 45 days in office and even fewer in power means that by next Friday, Britain will have had three prime ministers in a single year for the first time since 1827. This rapid turnover at the top has happened before in Britain through the sudden death of the incumbent (George Canning in 1827, Andrew Bonar Law in 1922). It would be even more remarkable if two of this year’s three prime ministers were to be the same person: Boris Johnson. Political parties in the modern sense barely existed in Lord North’s day; there were only factions. And there isn’t much of a Conservative Party now, only factions.

Johnson previously enjoyed high levels of popularity until losing credibility in the final months of his premiership. Gleb Garanich | ReutersLONDON — Former U.K. Prime Minister Boris Johnson will not take part in the contest to replace outgoing leader Liz Truss. Johnson is believed to still be popular in the grassroots of the wider Conservative Party despite many Tory MPs being firmly against a return. "There is a very good chance that I would be successful in the election with Conservative Party members — and that I could indeed be back in Downing Street on Friday. How the contest worksTruss' successor will once again be decided by a Conservative Party leadership contest drawn from a short-list of candidates.

☆ Boris Johnson's statement on pulling out of the UK prime minister race
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 23 (Reuters) - Boris Johnson on Sunday night said he had pulled out of the race to become Britain's next prime minister, saying he realised the country and the Conservative Party needed unity. There is a very good chance that I would be successful in the election with Conservative Party members - and that I could indeed be back in Downing Street on Friday. "But in the course of the last days I have sadly come to the conclusion that this would simply not be the right thing to do. "I believe I have much to offer but I am afraid that this is simply not the right time." Register now for FREE unlimited access to Reuters.com RegisterCompiled by Andrew MacAskill Editing by William SchombergOur Standards: The Thomson Reuters Trust Principles.

☆ Could Boris Johnson be next U.K. prime minister? Liz Truss replacement race is on
▼ + stars: | 2022-10-21 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Patrick-Smith-Circle-Byline-Template.Jpg | Patrick Smith | ) www.nbcnews.com time to read: +9 min

Some Conservative lawmakers have suggested they may even quit the party if Johnson wins. “His manipulation of the Conservative Party, his dishonesty and boosterism were all designed to cloak the absence of any realistic policies. Sunak commanded the support of more Conservative lawmakers than Truss, but lost out in the final members’ vote. But he is viewed as responsible for Johnson’s downfall by some allies of the former prime minister, who are unlikely to cheer a Sunak premiership. Starmer, the Labour Party leader, would be the clear favorite to be prime minister if an election were held any time soon.

☆ British minister Penny Mordaunt announces bid to be next UK PM
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 21 (Reuters) - British minister Penny Mordaunt on Friday launched her bid to replace Liz Truss as prime minister, becoming the first Conservative lawmaker to announce they are running. That race saw Truss defeat former finance minister Rishi Sunak. "I’ve been encouraged by support from colleagues who want a fresh start, a united party and leadership in the national interest." Bookmakers place Mordaunt third, behind Sunak and Johnson, who are also expected to enter the race to succeed Truss. Largely unknown outside Westminster prior to taking an early opinion poll lead among Conservative Party members earlier this year, some of the public may have first seen Mordaunt on the reality TV show Splash!

☆ Viral video shows Tory MP eviscerating Liz Truss, capturing the political fury that forced her from office
▼ + stars: | 2022-10-20 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

UK Prime Minister Liz Truss announced her resignation on Thursday. A video of a Tory MP tearing apart Truss captures the political fury that led to her quitting. Charles Walker told BBC News he was "livid" and took aim at MPs who put Truss in power. It shows the longtime Conservative MP Charles Walker tearing apart Truss and her supporters, whom he blamed for trashing the party's reputation. The vote was marred by accusations that Conservative MPs were bullied and "manhandled" into voting in support of the government.

☆ Embattled British PM Truss loses 2nd minister in a week amid political and economic turmoil
▼ + stars: | 2022-10-19 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

British Prime Minister Liz Truss described herself as “a fighter and not a quitter” Wednesday as she faced down a hostile opposition and fury from her own Conservative Party over her botched economic plan. And within hours of Truss’ appearance in Parliament for a regular session titled Prime Minister’s Questions, she lost a senior member of her government. Truss faced another test in Parliament later Wednesday when lawmakers vote on a Labour Party motion seeking to ban fracking for shale gas — a policy that Truss recently approved. Conservative Party whips said the vote would be treated as “a confidence motion in the government,” meaning the government would fall if the motion passed, triggering an election. Some Conservative legislators believe Truss could be forced to resign if the party agrees on a successor.

☆ British PM Truss: 'I am a fighter, not a quitter'
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: 1 min

LONDON, Oct 19 (Reuters) - British Prime Minister Liz Truss on Wednesday defied calls from opposition lawmakers to resign after having U-turned on her proposed economic plans, saying she was a "fighter" and not a "quitter". Responding to a question from opposition Labour Party leader Keir Starmer in parliament on why she should remain in power, Truss said: "I am a fighter and not a quitter." "I have acted in the national interest to make sure that we have economic stability." Register now for FREE unlimited access to Reuters.com RegisterReporting by William James, writing by Sachin Ravikumar; editing by Sarah YoungOur Standards: The Thomson Reuters Trust Principles.

☆ UK PM Liz Truss says she’s a ‘fighter not a quitter’ as lawmakers plot to oust her
▼ + stars: | 2022-10-19 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

British Prime Minister Liz Truss departs 10 Downing Street for the weekly Prime Minister's Questions (PMQs) in the House of Commons in London, United Kingdom on October 19, 2022. LONDON — British Prime Minister Liz Truss insisted Wednesday she was a "fighter not a quitter" as she was grilled by parliamentarians for the first time since being forced to scrap almost all of her flagship fiscal policies. Mortgage deals were also pulled as interest rate hike expectations rose rapidly. Full details of the government's new economic policies are expected Oct. 31, along with an independent economic forecast. "I had to take the decision because of the economic situation to adjust our policies," Truss said.

☆ UK Prime Minister Truss says 'sorry' for mistakes, but 'I'm sticking around'
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 17 (Reuters) - Britain's Prime Minister Liz Truss apologised for "mistakes" in her programme that caused investor confidence to evaporate and her poll ratings to plunge before nearly all of it was finally shredded on Monday, but said she would not step down. "I do want to accept responsibility and say sorry for the mistakes that have been made," Truss told the BBC. read moreAsked if she was now prime minister in name only, Truss said she had appointed Hunt because she knew she had to change direction. Truss and Kwarteng attempted to upend British fiscal policy by unveiling 45 billion pounds of unfunded tax cuts last month to snap the economy out of stagnation. "I'm sticking around because I was elected to deliver for this country," she said.

CNN —British Prime Minister Liz Truss on Monday apologized for her controversial mini-budget that crashed the country’s currency, rattled financial markets and led to her firing her finance minister and closest political ally. The moves amount to a gutting of Truss’ flagship “growth plan” and leave her in a perilous political position. “We have to make sure though, that we have economic stability, and that has to be my priority as prime minister. Truss added it was “painful” to sack her “friend” Kwarteng as finance minister but said she stood by her decision. She also apologized to her party’s lawmakers for her “mistakes” but said she would “move forward” and focus on delivering for the UK.

☆ UK PM Truss unable to appear in parliament on Kwarteng sacking - minister
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 17 (Reuters) - Prime Minister Liz Truss did not appear in parliament on Monday to answer a question about why the former finance minister Kwasi Kwarteng was sacked last week, drawing accusations from the opposition Labour Party she was "scared of her own shadow". "The PM is detained on urgent business," Mordaunt said, drawing laughter from opposition party lawmakers. read more"It is time for leaders to lead, but where is the Prime Minister?" "I guess under this Tory government everybody gets to be prime minister for 15 minutes." "The decision taken by our prime minister would have been a very tough one, politically and personally," she said.

☆ UK PM Liz Truss's news conference after finance minister sacked
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +2 min

read moreBelow are some of the key quotes from Truss's news conference:ON HER MISSION"I want to deliver a low tax, high wage, high growth economy. Register now for FREE unlimited access to Reuters.com Register"We recognise because of current market issues. ON CORPORATION TAX"We need to act now to reassure the markets of our fiscal discipline. ON NEW FINANCE MINISTER JEREMY HUNT"He's one of the most experienced and widely respected government ministers and parliamentarians and he shares my convictions and ambitions for our country. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kylie MacLellan; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

☆ UK PM Liz Truss's letter to outgoing finance minister Kwasi Kwarteng
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 14 (Reuters) - British Prime Minister Liz Truss said on Friday that Kwasi Kwarteng had put the national interest first by resigning as finance minister after less than six weeks in the job. Below is the full text of her letter to Kwarteng:"Thank you for your letter. Register now for FREE unlimited access to Reuters.com Register"We share the same vision for our country and the same firm conviction to go for growth. You have put the national interest first. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kylie MacLellan; editing by David MillikenOur Standards: The Thomson Reuters Trust Principles.

☆ Liz Truss was defeated by the bond market. Investors aren’t satisfied yet
▼ + stars: | 2022-10-14 | by ( Julia Horowitz | ) edition.cnn.com time to read: +5 min

London CNN Business —After a bruising three-week battle with bond markets, UK Prime Minister Liz Truss admitted defeat on Friday. The price of 30-year UK government debt, which has been whipsawed in recent weeks, fell after the press conference. The Bank of England was forced to announce three separate interventions to avoid a full-scale meltdown in the UK government bond market. That’s putting investors on edge, especially since more details on the revised Truss plan aren’t formally expected until Oct. 31. Global dynamics could also make it more difficult for UK markets to find their footing even as the government backtracks.

Yet he ultimately carried the can for an unwelcome fiscal plan that roiled bond markets, spooked investors and sparked a major backlash from governing Conservative Party lawmakers. Cutting his visit short, he flew back to London on Friday to "continue work at pace" for a medium-term fiscal plan due at the end of the month. Nor were further moves to re-embrace Treasury orthodoxy through the choice of Scholar's replacement and a decision to bring forward a medium-term fiscal plan and forecasts. In a reply to Kwarteng, Truss said she was deeply sorry to lose a long-standing friend from government. But a finance minister being ditched so quickly for his policies - especially when they were so closely aligned with the prime minister - is unprecedented in modern times.

☆ How a tank the Soviets tried to keep secret became an icon of Ukraine's resistance against Russia
▼ + stars: | 2022-10-13 | by ( Sebastian Roblin | ) www.businessinsider.com time to read: +17 min

An Afghan soldier fighting for the Soviets sits on a Soviet-made T-64 tank near the Salang Pass on August 17, 1989. However, these systems were mostly exported, and it's unclear whether either is currently operational on Ukrainian tanks. Defending Ukraine, 2014-2015A Ukrainian tank in the eastern Ukrainian city of Slavyansk in July 2014. A burned Ukrainian tank in Uglegorsk, on the frontline near Debaltseve, in February 2015. A pro-Russian separatist stands guard near a T-64 tank in Donetsk in July 2014.

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