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☆ Japan’s Weapons Buildup to Bolster U.S. Efforts to Counter China
▼ + stars: | 2022-12-20 | by ( Alastair Gale | ) www.wsj.com time to read: 1 min

TOKYO—Japan’s plans to spend billions of dollars on missiles and other weapons to deter China and North Korea herald a new phase of military competition in Asia. Tokyo is aiming to narrow a vast military gap with China and reach a stalemate that will help maintain peace, as well as counter North Korea’s growing military power. The Pentagon estimates Beijing has more than 900 short-range ballistic and ground-launched cruise missiles that could hit Japan.

☆ Japan to Build a More Powerful Military, Citing China as Its No. 1 Menace
▼ + stars: | 2022-12-16 | by ( Alastair Gale | Chieko Tsuneoka | ) www.wsj.com time to read: 1 min

TOKYO—Japan called China its biggest security challenge and said it would sharply raise military spending including for missiles that can hit other countries, marking one of Tokyo’s biggest post-World War II shifts away from pacifism. Releasing its long-awaited military strategy for the next decade, Tokyo said Friday that by fiscal 2027, it would spend about 2% of its gross domestic product on defense, up from about 1% now. Based on current GDP, that would bring annual spending to the equivalent of around $80 billion, putting Japan third in the world behind the U.S. and China.

After a thrilling quarterfinal round and a more predictable semifinals, Argentina and France stand alone. These pictures show how they got here, with one tricky change: We’ve removed the ball. See if you can guess where it was.

☆ China Recruited Western Pilots With Knowledge of Stealth Fighters and Aircraft Carriers
▼ + stars: | 2022-12-14 | by ( Alastair Gale | ) www.wsj.com time to read: 1 min

China’s military sought to enlist veteran Western pilots into a program that aimed to improve its ability to fly planes from aircraft carriers, among other capabilities that could be useful in the event of a conflict with the U.S., including potentially over Taiwan, according to official documents, legal filings, emails and people familiar with the matter. The program, some details of which were first revealed by the U.K. defense ministry in October, involved close collaboration between China and a South African flight academy that recruited former military pilots with expertise in areas where China’s military lags behind Western counterparts.

After a thrilling World Cup round of 16, eight more teams have been eliminated from the tournament. We collected photos of the action, but made one important change — we eliminated the ball. See if you can guess where it was.

☆ Oil giant BP is a buy as fundamentals remain strong, Citi says in upgrade
▼ + stars: | 2022-11-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Citi says it's time for investors to load up on shares of BP . Analyst Alastair Syme upgraded the oil stock to a buy from a neutral rating, saying BP offers a more favorable valuation than its European peers and "decent growth characteristics." Citi upped its price target on shares of the U.K.-based company to 5.40 pounds sterling, suggesting the stock could rally 18%. "We see market rotation into energy equities as having further to run, even though names in our US coverage already sit at all-time highs," Syme wrote. "History says energy equities usually perform well in an earnings recession, Citi's base case for 2023."

☆ Michael Bloomberg apologises for Boris Johnson speech criticising China
▼ + stars: | 2022-11-20 | by ( Martin Quin Pollard | ) www.reuters.com time to read: +3 min

[1/2] Former mayor of New York Michael Bloomberg speaks with participants prior to a meeting with Earthshot prize winners and finalists at the Glasgow Science Center during the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 2, 2021. Alastair Grant/Pool via REUTERS/File PhotoBEIJING, Nov 20 (Reuters) - Michael Bloomberg apologised last week at a business forum hosted by the news agency he founded for remarks by British former Prime Minister Boris Johnson criticising China as autocratic. "Some may have been insulted or offended last night by parts of the speaker’s remarks referencing certain countries and their duly elected leaders," Bloomberg said in remarks posted on Twitter. A spokesman for Bloomberg LP, which includes Bloomberg News and where Michael Bloomberg is the CEO, declined to comment to Reuters. Johnson, who stepped down as Britain's leader in September, had sharply criticised China's and Russia's political system and leaders in his Wednesday speech.

☆ How Nike's Air Jordan 1 became — and remained — the most prized lifestyle sneaker
▼ + stars: | 2022-11-19 | by ( Matthew Kish | ) www.businessinsider.com time to read: +8 min

Nike on Saturday will release the Air Jordan 1 Chicago "Lost and Found"Some collectors consider it the "most iconic sneaker of all time." "The Air Jordan 1 is the most iconic sneaker of all time," said Jordan Geller, a sneaker collector and former owner of the ShoeZeum who in 2020 sold a pair worn by Jordan for a record $560,000. Michael Jordan wearing the Air Jordan 1 in 1985. AP Photo/Marcio Jose SanchezScarcity, storytelling, collaborations and the "Last Dance"After 1985, The Air Jordan 1 didn't re-release in original specs until 1994. "All of those releases are coveted by sneaker collectors and the 'Lost and Found' Air Jordan 1 will be as well," Geller said.

☆ Japan’s Leader Seeks Steady China Ties in First Meeting With Xi Jinping
▼ + stars: | 2022-11-17 | by ( Alastair Gale | ) www.wsj.com time to read: 1 min

Japanese Prime Minister Fumio Kishida sought to steady ties with Beijing in his first meeting with Chinese leader Xi Jinping , reflecting the importance to Japan of economic links with China and Tokyo’s worries of being drawn into a conflict over nearby Taiwan. “Both countries are great powers with important responsibilities for the peace and prosperity of the international community. It is important that both sides accelerate their efforts to build constructive and stable Japan-China relations,” Mr. Kishida said at the start of a meeting with Mr. Xi in Bangkok that lasted around 45 minutes. The meeting took place ahead of a summit of leaders of the Asia Pacific Economic Cooperation group in Thailand, following a Group of 20 meeting in Indonesia.

☆ Japan Considers Buying U.S. Tomahawk Missiles to Deter North Korea and China
▼ + stars: | 2022-10-28 | by ( Alastair Gale | Chieko Tsuneoka | ) www.wsj.com time to read: 1 min

TOKYO—Japan is in talks with the U.S. about buying Tomahawk cruise missiles so that it can more quickly gain the ability to attack North Korean and Chinese military bases, people familiar with the matter said. The long-range missiles would represent a big step up in Tokyo’s ability to strike regional rivals, a power that it traditionally held back from obtaining. Prime Minister Fumio Kishida has said he wants to improve deterrence, particularly after North Korea fired a missile that flew over Japan earlier this month and China’s military stepped up activity near Japan and Taiwan.

☆ North Korea Lured Japanese by Promising Paradise. Some Escapees Are Now Suing Kim Jong Un—‘We Were Deceived.’
▼ + stars: | 2022-10-21 | by ( Alastair Gale | Photographs Shiho Fukada For The Wall Street Journal | ) www.wsj.com time to read: 1 min

As one of five siblings left behind in North Korea, Sora Li says she often struggled to contain her anger at her mother who had fled the country. “I couldn’t sleep. I went outside and shouted about how much I resented her,” she said.

☆ China’s Military Is Catching Up to the U.S. Is It Ready for Battle?
▼ + stars: | 2022-10-21 | by ( Alastair Gale | ) www.wsj.com time to read: 1 min

China’s military is emerging as a true competitor to the U.S. under Xi Jinping. The People’s Liberation Army now has hypersonic missiles that evade most defenses, a technology the U.S. is still developing. Its attack drones can swarm to paralyze communications networks. China’s naval ships outnumber America’s, and it launched its third aircraft carrier this summer, the first to be designed and built in the country. China’s military has more serving members, at around 2 million, compared with just under 1.4 million in the U.S.

☆ China’s Military Is Catching Up to the U.S. Is It Ready to Fight?
▼ + stars: | 2022-10-20 | by ( Alastair Gale | ) www.wsj.com time to read: 1 min

☆ UK PM Truss discusses deepening cooperation with France's Macron
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

British Prime Minister Liz Truss makes a press statement after a meeting of the European Political Community at Prague Castle in Prague, Czech Republic, Thursday, Oct 6, 2022. Alastair Grant/Pool via REUTERSLONDON, Oct 18 (Reuters) - British Prime Minister Liz Truss and French President Emmanuel Macron discussed continued support for Ukraine, as well as deepening bilateral cooperation, over a call earlier on Tuesday, her Downing Street Office spokesperson said. "They agreed the UK and France will continue to work closely together with allies to support Ukraine and coordinate our response to Russian aggression," the spokesperson said. "The Prime Minister and President Macron also welcomed the recent opportunity to meet in person at the leaders' summit in Prague, and looked forward to continuing to deepen bilateral cooperation." Register now for FREE unlimited access to Reuters.com RegisterReporting by Muvija M, Editing by Paul SandleOur Standards: The Thomson Reuters Trust Principles.

Oct 17 (Reuters) - Bank of America Corp (BAC.N) on Monday reported a smaller-than-expected 9% drop in quarterly profit, as its interest income was bolstered by rising interest rates that offset a slump in investment banking. BofA holds a large base of consumer deposits, compared with its main rivals, making it more sensitive to any changes in interest rates. "Consumers remain resilient," Bank of America Chief Executive Officer Brian Moynihan told analysts on a conference call. The bank, however, added $378 million to its loan-loss reserves as it braces for a weakening economy. Citigroup Inc (C.N) wrote down $110 million on leveraged loans in the third quarter, down from $126 million in the previous quarter.

Bank of America holds a large base of consumer deposits, compared with its main rivals, making it more sensitive to any changes in interest rates. Its net interest income jumped 24% in the third quarter. JPMorgan Chase & Co (JPM.N) Citigroup Inc (C.N), and Wells Fargo & Co (WFC.N) also saw their net interest income rise in the same period. read moreThe bank's leveraged loan losses were lower in the third quarter than in the second, Borthwick said. Peer Citi also wrote down $110 million on leveraged loans in the third quarter, down from $126 million in the previous quarter.

☆ Russia Expels Japanese Diplomat for Alleged Espionage
▼ + stars: | 2022-09-27 | by ( Alastair Gale | ) www.wsj.com time to read: 1 min

Japanese Foreign Minister Yoshimasa Hayashi said Tokyo was informed on Monday that one of its diplomats had been declared ‘persona non grata’ by Russia. TOKYO—Japan said one of its diplomats was blindfolded and tied up by Russian authorities in the city of Vladivostok before being interrogated and then given 48 hours to leave the country. Russia’s Federal Security Service said the diplomat, which it named as Consul Tatsunori Motoki, was caught on Monday paying for classified information about Moscow’s cooperation with a country in the Asia-Pacific region, according to a statement published by the state news agency TASS.

☆ Shinzo Abe State Funeral Brings World Leaders to Japan
▼ + stars: | 2022-09-27 | by ( Alastair Gale | Miho Inada | ) www.wsj.com time to read: 1 min

A temporary altar was set up for the public to pay respects outside the Nippon Budokan, site of Shinzo Abe’s funeral. TOKYO—World leaders gathered Tuesday for the state funeral of Japan’s longest-serving prime minister, Shinzo Abe , who was killed by an assassin’s bullet in July. Vice President Kamala Harris leads the U.S. delegation, which includes three former ambassadors to Japan and the current ambassador, Rahm Emanuel .

☆ Shinzo Abe State Funeral Draws World Leaders, Protesters
▼ + stars: | 2022-09-27 | by ( Alastair Gale | Miho Inada | ) www.wsj.com time to read: 1 min

TOKYO—World leaders and successors of Shinzo Abe paid tribute to Japan’s longest-serving prime minister at a state funeral, while thousands of people protested the event nearby. The send off for Mr. Abe, who was killed by an assassin’s bullet in July, reflected the divisions that also marked his term in office. Vice President Kamala Harris remembered Mr. Abe as a champion of the U.S.-Japan alliance, and his allies mourned the loss of a leader they said devoted his life to improving Japan.

☆ How a man called Alastair Martin helped increase the value of Prince William's property empire by $350 million in less than a decade
▼ + stars: | 2022-09-19 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

Prince William has inherited a property empire worth $1.2 billion from his father King Charles IIIIn the past nine years, the value of the Duchy of Cornwall's assets has risen by $350 million. When he took over, records show the duchy was making profits of £28 million ($32 million) on assets worth £763 million ($880 million). Since then revenues from commercial activities and the sale of goods has risen by about £5 million ($5.8 million), while agricultural income has barely changed. Last year, the estate bought property worth nearly £42 million ($48.5 million), including several housing developments. But rising activity means operating costs have also doubled, with the duchy now spending more than £6 million ($6.9 million) on its wages bill.

☆ Factbox: Comments from crowds in London on Queen Elizabeth
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

People stand along the Long Walk outside Windsor Castle as they wait for the coffin of Queen Elizabeth II to arrive in Windsor, England, Monday, Sept. 19, 2022. The Queen, who died aged 96 on Sept. 8, will be buried at Windsor alongside her late husband, Prince Philip, who died last year. Alastair Grant/Pool via REUTERSLONDON, Sept 19 (Reuters) - Hundreds of thousands of people are expected in central London on Monday as the funeral of Queen Elizabeth, Britain's longest-reigning monarch, takes place. Register now for FREE unlimited access to Reuters.com Register"I’m here because it’s part of history - like everybody else I think. CAROL JOSEPH, 63, FROM LONDON"She is just magnificent, she’s done such an impeccable reign with such dignity, such respect, she’s never had anything, any scandal against her and she deserves the respect.

Britain's Queen Elizabeth II inspects a guard of honor at the Presidential palace in New Delhi during her visit to India in 1997. Queen Elizabeth II meets Indian Prime Minister Narendra Modi at Buckingham Palace in London, England in 2015. “If you don’t see people mourning the death of Queen Elizabeth in India, (it is) because she doesn’t have that connection with the new generation of Indians,” Ravi Mishra said. Queen Elizabeth II meets Indira Gandhi at Hyderabad House in Delhi, India, in 1983. The proposition before this house is the principle of owing reparations … the question is: is there a debt?… As far as I’m concerned, the ability to acknowledge a wrong that has been done, to simply say sorry, will go a far, far, far longer way than some percentage of GDP in the form of aid,” Tharoor said.

☆ 'Doomsday' glacier — which could raise sea levels by several feet if melted — is 'holding on by its fingernails' says new study
▼ + stars: | 2022-09-06 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

A body of ice known as the "Doomsday Glacier" could melt faster than predicted, a new study says. The Thwaites Glacier protects the West Antarctic ice sheet, and researchers watch it closely. The melting of the Thwaites Glacier — which is around the size of Florida — could raise sea levels by up to two feet. A 3D-rendered view of the multibeam bathymetry (seafloor shape) colored by depth, collected by Rán across a seabed ridge, just in front of Thwaites Ice Shelf. Rán, a Kongsberg HUGIN autonomous underwater vehicle, amongst sea ice in front of Thwaites Glacier, after a 20-hour mission mapping the seafloor.

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