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America’s biggest defence contractors cannot decide whether to be thrilled or terrified by Donald Trump. The titans of the US defence establishment beat a path to Mr Trump’s Florida resort on Wednesday to hear the president-elect warn that the US government is spending too much money on wasteful, over-budget, out-of-control defence programmes. At the same time, however, Mr Trump has consistently promised a build-up in America’s military — including his […]

Good morning. A media A-list’s favorite books of 2016 Jake Tapper, the CNN reporter-show host, needed far less time than even a hyperactive wire service rewrite guy to answer a question about his favorite book this year: “‘Moonglow’ by Michael Chabon.” Bam, that didn’t take long. But it’s why amid a Trump- and-terrorism-centric moment, I asked busy and smart journalists to go high when so many others […]

For 15 years, Chandran Nair led a top Asian environmental consultancy that was active in China. In 2006, he founded the Global Institute for Tomorrow, a Hong Kong think tank focused on a shift of global power from the West to Asia, at a time when China’s rise is changing the geopolitical balance. Mr. Nair, who was born in Malaysia to a large South Indian family, is the […]

By Manuel Mogato | MANILA MANILA The United States provided the Philippines with $127 million in security assistance in the 12 months ended in September, the biggest sum in about 15 years, overlapping with a stream of angry threats from President Rodrigo Duterte to sever their defence alliance. The U.S. embassy in Manila on Friday confirmed its longtime Asian ally had received a 154 percent increase in […]

Deutsche Bank and Credit Suisse have agreed to pay out billions to resolve a probe into the alleged mis-selling of mortgage-backed securities at the height of the US housing bubble, striking deals before the Trump administration takes power. The deals came as federal prosecutors announced they were suing Barclays and two of its executives over the issue of allegedly fraudulent residential mortgage-backed securities. The suit followed the breakdown of talks […]

Net redemptions from emerging market equity funds reached a five-week high in the latest week amid pressure from the rising dollar and uncertainty about trade policy in the US, especially with China. Investors withdrew $3.7bn from emerging market equity funds in the week to Wednesday, according to EPFR Global, with Asia ex-Japan equity funds seeing net redemptions of $2.36bn, the largest since September of 2015. China equity […]

Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. It could be a dinner akin to the disastrous ones in “Meet the Parents,” “Talladega Nights” and “Wedding Crashers.” Or maybe “American Beauty,” where newly unemployed Kevin Spacey turns to his wife (Annette Bening) and daughter (Thora Birch) and says […]

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Law Blog rounds up the morning’s legal news: VW buy-back: Volkswagen agreed to pay around $1 billion to repurchase or fix an additional batch of diesel-powered vehicles tainted with emissions-cheating software, resolving what had become a sticking point more than a year into Volkswagen’s diesel-emissions crisis. [WSJ] Unrevealing: A newly unsealed search-warrant application in the Clinton probe confirms the FBI found thousands of emails potentially linked to […]

Photo An Airbus A321 featuring the Iranian flag at an Airbus plant in Hamburg, Germany, this week. The acquisition of modern planes is an important achievement for President Hassan Rouhani of Iran. Credit Fabian Bimmer/Reuters The European aircraft manufacturer Airbus completed a deal on Thursday to sell 100 jetliners to Iran, a move described by both sides as a major step toward revitalizing Iran’s aged commercial fleet […]

Friday 02:50 GMT Overview Asian markets not already shut for the holidays went into retreat, following a negative lead from Wall Street as investors took a breather ahead of the Christmas break. Hot topic Most major global stock markets were on track to finish December in the black, continuing the rally set off by Donald Trump’s presidential election victory in early November. In Asia, Japanese equities have […]

BEIJING Chinese state media on Friday expressed alarm and warned of a “showdown with the U.S.” after President-elect Donald Trump named Peter Navarro, an economist who has urged a hard line against China, to head a new White House National Trade Council. Navarro is an academic and one-time investment adviser who has authored books such as “Death by China: How America Lost its Manufacturing Base”. The book […]

Europe’s Airbus signed a firm contract on Thursday to sell 100 jets to IranAir, completing a return by Western plane giants and paving the way for deliveries to start next month, a year after sanctions against Iran were lifted. The deal took weeks of shuttling between Airbus headquarters in Toulouse, France, and Tehran, complicated by a shortage of expert legal advice as Iran completes its biggest commercial […]

Donald Trump turned up the heat under Lockheed Martin about the cost of its F-35 fighter jet, tweeting on Thursday that he had asked rival defence contractor Boeing to price its F-18 Super Hornet as an alternative.  “Based on the tremendous cost and cost overruns of the Lockheed Martin F-35, I have asked Boeing to price-out a comparable F-18 Super Hornet!” Mr Trump tweeted on Thursday evening. […]

Mr. Trump, who last week nominated as ambassador to Israel a bankruptcy lawyer who heads a fund-raising effort for a West Bank settlement, made clear on Thursday that he would not wait for his inauguration to weigh in. In a statement, he said bluntly that the resolution should be vetoed. Continue reading the main story “As the United States has long maintained, peace between the Israelis and […]

US trade policies under Donald Trump will be key to agricultural commodities next year, as the world continues to grapple with high levels of grain production and inventories, according to a leading forecaster. “The area of concern is whether anything is going to happen that is going to affect our trade with China, which is a big agricultural buyer,” said Don Riffe, senior vice-president for agribusiness intelligence […]

As journalists grapple with the rise of fake news, it’s worth examining what happens when policymakers embrace misinformation instead of evidence when it comes to climate change. In September, YourNewsWire breathlessly told its readers that thousands of scientists had declared climate change “a hoax.” This was big news — at least on Facebook — where the YourNewsWire post was shared more than 550,000 times, making it the […]

The last several years have been dynamic ones in the world of patents, a trend that’s likely to continue as the Patent and Trademark Office comes under the leadership of the Trump administration. Outgoing PTO director Michelle K. Lee recently shared with The Wall Street Journal her thoughts about notable legal and policy developments during […] (via WSJ)

By Amy Tennery | NEW YORK NEW YORK A JetBlue airline passenger, who media outlets and a witness described as making angry remarks at the sight of Ivanka Trump on his flight, was removed from the plane on Thursday by the airline. JetBlue Airways Corp (JBLU.O) confirmed in a statement that a passenger had been removed from a flight set to depart from New York’s John F. […]

By Lucia Mutikani | WASHINGTON WASHINGTON U.S. consumer spending increased modestly in November as household income failed to rise for the first time in nine months, suggesting the economy slowed in the fourth quarter after growing briskly in the prior period. The economy, however, remains on solid footing as other data on Thursday showed new orders for capital goods rising last month amid demand for machinery, indicating […]

In the wake of reports that Fitbit has dominated the wearables segment and with its acquisition of Pebble, it would seem that the picture for the wearable industry is all rosy. A new report, however, shows that it is not the case. Wearables’ Negative Outlook Research firm eMarketer has downgraded its outlook on the wearable devices market. It estimates a 24.7 percent growth this year for an industry […]

Vladimir Putin and Donald Trump on Thursday called for the strengthening of their countries’ nuclear capabilities. Speaking at a meeting of defence chiefs in Moscow, Mr Putin said Russia needed to “strengthen the strategic nuclear forces, for that we should develop missiles capable of penetrating any current and prospective missile defence systems”, according to the Tass news agency. Mr Putin claimed Russia’s military was able to repel […]

U.S. President-elect Donald Trump called for the expansion of the United States’ nuclear capabilities until the world “comes to its senses,” but gave no other details in a tweet on Thursday. “The United States must greatly strengthen and expand its nuclear capability until such time as the world comes to its senses regarding nukes,” Trump said in the post on Twitter. Representatives for his transition team could […]

WASHINGTON The U.S. Department of Homeland Security said on Thursday it is canceling an inactive registry program for visitors from countries where extremist groups are operating, a plan similar to a Muslim registry considered by President-elect Donald Trump. The National Security Entry-Exit Registration Systems program, known as NSEERS, was suspended in 2011, DHS spokesman Neema Hakim said in a statement. He said the program was determined to […]

GQ’s Drew Magary has just published his list of “Least Influential People of 2016” and apparently he’s still troubled by Trump’s victory as the entire list is dedicated to the “boobs, liars, and hapless idiots” who “added their own little secret ingredient to the hearty gumbo of American vapidity that gave us President Trump.” First, even though Magary admits that he “hates” adding her to the list, […]

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