Why is Elon Musk suing Open AI and Sam Altman? In a word: Microsoft. – Morningstar

By Jurica Dujmovic

Potential ramifications extend far beyond the courtroom

In a striking turn of events, Elon Musk, Tesla's (TSLA) CEO, has initiated legal action against OpenAI and its leadership, alleging that the organization he helped found has moved from its original altruistic mission toward a profit-driven approach, particularly after partnering with Microsoft (MSFT).

The lawsuit accentuates Musk's deep-seated concerns that OpenAI has deviated from its foundational manifesto of developing artificial general intelligence (AGI) for the betterment of humanity, choosing instead to prioritize financial gains. But is that really so, or is there something else at hand?

Musk was deeply involved with OpenAI since its inception in 2015, as his concerns about AI's potential risks and the vision to advance AI in a way that benefits humanity aligned with OpenAI's original ethos as a non-profit organization.

In 2018, however, Musk became disillusioned with OpenAI because, in his view, it no longer operated as a nonprofit and was building technology that took sides in political and social debates. The recent OpenAI drama that culminated with a series of significant changes in OpenAI's structure and ethos, as well as a what can only be seen as Microsoft's power grab, seems to have sparked Musk's discontent.

To understand his reasoning, it helps to remember that Microsoft is a company with a long history of litigation. Over the years, Microsoft has faced numerous high-profile legal battles related to its market practices.

Here are some prominent cases to illustrate the issue:

-- In the United States v. Microsoft Corp. case, which began in 1998, the U.S. Department of Justice accused Microsoft of holding a monopolistic position in the PC operating-systems market and taking actions to crush threats to that monopoly. In April 2000, the case resulted in a verdict that Microsoft had engaged in monopolization and attempted monopolization in violation of the Sherman Antitrust Act.

-- In Europe, Microsoft has faced significant fines for abusing its dominant market position. In 2004, the European Commission fined Microsoft 497.2 million euros, the largest sum it had ever imposed on a single company at the time??. In 2008, Microsoft was fined an additional 899 million euros for failing to comply with the 2004 antitrust order.

-- In 2013, the European Commission levied a 561 million euro fine against Microsoft for failing to comply with a 2009 settlement agreement to offer Windows users a choice of internet browsers instead of defaulting to Internet Explorer.

In light of these past litigations, it's much easier to understand why OpenAI's CEO Sam Altman's brief departure from the company and subsequent return late last year - which culminated in a significant shift in the organization's governance and its relationship with Microsoft - was the straw that likely broke Musk's back.

After Altman was reinstated, Microsoft solidified its influence over OpenAI by securing a permanent position on its board. Furthermore, the restructuring of OpenAI's board to include business-oriented members, rather than AI experts or ethicists, signaled a permanent shift in the organization's priorities and marked a pivotal turn toward a profit-driven model underpinned by corporate governance.

The consequences of this power grab are plain to see: Microsoft is already implementing various AI models designed by the company in its various products while none of the code is being released to the public. These models also include a specific political and ideological bias that makes them problematic from an ethical point of view. This too, is an issue that cannot be addressed due to the closed-source nature of AI models generated and shaped under the watchful eye of Microsoft.

Musk's own ventures, like xAI and Neuralink, suggest he's still deeply invested in the AI space, albeit in a way he has more control over, presumably to ensure that the technology develops according to his vision for the future of humanity.

On the other hand, proponents of Microsoft's partnership with OpenAI emphasize strategic and mutually-beneficial aspects. Microsoft's $1 billion investment in OpenAI is viewed as a significant step in advancing artificial-intelligence technology as it allows OpenAI to utilize Microsoft's Azure cloud services to train and run its AI software. Additionally, the collaboration is positioned as a way for Microsoft to stay competitive against other tech giants by integrating AI into its cloud services and developing more sophisticated AI models????.

Proponents say Microsoft's involvement with OpenAI is a strategic business decision aimed at promoting Azure's AI capabilities and securing a leading position in the industry. The partnership is framed as a move to democratize AI technology while ensuring AI safety, which aligns with broader industry goals of responsible and ethical AI development. It is also seen as a way for OpenAI to access necessary resources and expertise to further its research, emphasizing the collaborative nature of the partnership rather than a mere financial transaction??.

Hard truths and consequences

While many point out that Musk winning the case is extremely unlikely, it's still worth looking into potential consequences. Such a verdict could mandate that OpenAI returns to a non-profit status or open-source its technology, significantly impacting its business model, revenue generation and future collaborations. It could also affect Microsoft's investment in OpenAI, particularly if the court determines that the latter has strayed from its founding mission, influencing the tech giant's ability to protect its investment and realize expected returns.

The lawsuit's outcome might influence public and market perceptions of OpenAI and Microsoft, possibly affecting customer trust and market share, with Musk potentially seen as an advocate for ethical AI development. Additionally, the case could drive the direction of AI development, balancing between open-source and proprietary models, and possibly accelerating innovation while raising concerns about controlling and misusing advanced AI technologies.

The scrutiny from this lawsuit might lead to more cautious approaches in contractual relationships within the tech sector, focusing on partnerships and intellectual property. Furthermore, the case could draw regulatory attention, possibly leading to increased oversight or regulation of AI companies, particularly concerning transparency, data privacy and ethical considerations in AI development. While Musk's quest might seem like a longshot to some legal experts, the potential ramifications of this lawsuit extend far beyond the courtroom.

More: Here's what an AI chatbot thinks of Elon Musk's lawsuit against OpenAI and Sam Altman

Also read: Microsoft hasn't been worth this much more than Apple since 2003

-Jurica Dujmovic

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

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Why is Elon Musk suing Open AI and Sam Altman? In a word: Microsoft. - Morningstar

Scientists Check Whether Space Telescope Could Detect Life on Earth – Futurism

A pretty smart reality check! Planet Here

We have some truly epic news.

There is indeed life on Earth.

A team of American and European scientists have confirmed this not-so-surprising observation after they simulated the workings of a proposed space telescope, and then focused the telescope on Earth, treating it like a distant exoplanet to see if the instrument could pick up evidence of life.

In this kind-of-round-about way, the scientists can estimate the future performance of the space telescope, called LIFE or Large Interferometer For Exoplanets, when it's deployed into space to search for exoplanets that are similar to our own.

The scientists detailed the findings in a study published in The Astronomical Journal. Currently, there is no exact date when the LIFE telescope being overseen by the Swiss university ETH Zrich would start getting built, but this paper at least shows that its ambitions are viable.

The scientists created a synthetic version of Earth and had a simulated version of the telescope examine it for "biosignatures," or chemicals in the atmosphere that would indicate life such as nitrous oxide and methylated halogens.

"[T]hese biogenic gases is most consistent with a productive global photosynthetic biosphere," the scientists write.

The LIFE telescope, which would actually be made up of five satellites working in tandem, would operate by picking up infrared radiation in exoplanets' atmosphere. From this raw data, scientists hope they'd be able to calculate the chemical composition of the exoplanets' atmosphere.

The ultimate goal of the ambitious project is to study in further detail 30 to 50 exoplanets that are of similar size to Earth and see if there's is any glimmer of life in their atmospheres. Astronomers will be focusing their search on systems that are at most 65 light years away from us.

If LIFE is indeed deployed, it may go a long way towards answering one of the universe's biggest mysteries: are we alone?

More on space telescopes: James Webb Spots "Extremely Red" Black Hole

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Scientists Check Whether Space Telescope Could Detect Life on Earth - Futurism

Confidential Computing and Cloud Sovereignty in Europe – The New Stack

Confidential computing is emerging as a potential game-changer in the cloud landscape, especially in Europe, where data sovereignty and privacy concerns take center stage. Will confidential computing be the future of cloud in Europe? Does it solve cloud sovereignty issues and adequately address privacy concerns?

At its core, confidential computing empowers organizations to safeguard their sensitive data even while its being processed. Unlike traditional security measures that focus on securing data at rest or in transit, confidential computing ensures end-to-end protection, including during computation. This is achieved by creating secure enclaves isolated areas within a computers memory where sensitive data can be processed without exposure to the broader system.

Cloud sovereignty, or the idea of retaining control and ownership over data within a country or region, is gaining traction as a critical aspect of digital autonomy. Europe, in its pursuit of technological independence, is embracing confidential computing as a cornerstone in building a robust cloud infrastructure that aligns with its values of privacy and security.

While the promise of confidential computing is monumental, challenges such as widespread adoption, standardization and education need to be addressed. Collaborative efforts between governments, industries and technology providers will be crucial in overcoming these challenges and unlocking the full potential of this transformative technology.

As Europe marches toward a future where data is not just a commodity but a sacred trust, confidential computing emerges as the key to unlocking the full spectrum of possibilities. By combining robust security measures with the principles of cloud sovereignty, Europe is poised to become a global leader in shaping a trustworthy and resilient digital future.

The era of confidential computing calls, and Europe stands prepared to respond. Margrethe Vestager, the European Commissions executive vice president for a Europe Fit for the Digital Age.

To learn more about Kubernetes and the cloud native ecosystem, join us at KubeCon + CloudNativeCon Europe in Paris from Mar. 19-22, 2024.

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European Space Agency Launches First Metal 3D Printer To ISS – Aviation Week

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A metal 3D printer could allow astronauts to make complex metallic structures in orbit, as well as at future Moon and Mars bases.

Credit: ESA

The European Space Agency (ESA) has launched what it says is the first metal 3D printer to be hosted on the International Space Station (ISS). While plastic 3D printers have been used aboard the ISS since 2014, a machine that prints stainless steel would be new and could allow astronauts greater...

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European Space Agency Launches First Metal 3D Printer To ISS - Aviation Week

A robot surgeon is headed to the ISS to dissect simulated astronaut tissue – Space.com

Very soon, a robot surgeon may begin its orbit around our planet and though it won't quite be a metallic, humanoid machine wearing a white coat and holding a scalpel, its mission is fascinating nonetheless.

On Tuesday (Jan. 30), scientists will be sending a slew of innovative experiments to the International Space Station via Northrop Grumman's Cygnus spacecraft. It's scheduled to launch no earlier than 12:07 p.m. ET (1707 GMT) and, if all goes to plan, arrive at the ISS a few days later on Feb. 1.

Indeed one of the experiments onboard is a two-pound (0.9-kilogram) robotic device, about as long as your forearm, with two controllable arms that respectively hold a grasper and a pair of scissors. Developed by a company named Virtual Incision, this doctor robot of sorts is built to someday be able to communicate with human doctors on the ground while inserting itself into an astronaut patient to conduct medical procedures with high accuracy.

"The more advanced part of our experiment will control the device from here in Lincoln, Nebraska, and dissect simulated surgical tissue on orbit," Shane Farritor, co-founder of Virtual Incision, said during a presentation about Cygnus on Friday.

For now, as it's in preliminary stages, it's going to be tested on rubber bands but the team has high hopes for the future as missions to the moon, Mars and beyond start rolling down the space exploration pipeline. Remote space medicine has become a hot topic during the last few years as space agencies and private space companies lay plans for a variety of future crewed space missions.

Related: International Space Station will host a surgical robot in 2024

NASA's Artemis Program, for instance, hopes to have boots on the moon in 2026 plus, that's supposed to pave the way for a day on which humanity can say they've reached the Red Planet. And together, those missions are expected to pave the way for a far future in which humanity embarks on deeper space travel, perhaps to Venus or, if we're really dreaming, beyond the solar system. So to make sure astronauts remain safe in space an environment they're literally not made to survive in scientists want to make sure space-based medical treatment sees advancement in tandem with the rockets that'll take those astronauts wherever they're going.

A quick example that comes to mind is how, in 2021, NASA flight surgeon Josef Schmid was "holoported" to the ISS via HoloLens technology. It's sort of like virtual reality meets FaceTime meets augmented reality, if that makes sense.

However, as the team explains, not only could this robotic surgery mission benefit people exploring the void of space, but also those living right here on Earth. "If you have a specialist who's a very good surgeon, that specialist could dial into different locations and help with telesurgery or remote surgery," Farritor said. "Only about 10% of operating rooms today are robotic, but we don't see any reason that shouldn't be 100%."

This would be a particularly crucial advantage for hospitals in rural areas where fewer specialists are available, and where operating rooms are limited. In fact, as Farritor explained, not only is Virtual Incision funded by NASA but also by the military. "Both groups want to do surgery in crazy places," he said, "and our small robots kind of lend themselves to mobility like that."

The little robot doctor will be far from alone on the Cygnus spacecraft as it heads to the ISS; during the same presentation in which Farritor discussed Virtual Incision, other experts talked about what they'll be sending up come Monday.

For one, it'll have a robot friend joining it in the orbital laboratory a robotic arm. This arm has already been tested within the station's constraints before, but with this new mission the team hopes to test it in fully unpressurized conditions.

"Unplugging, replugging, moving objects, that's the kind of stuff that we did with the first investigation," said May Murphy, the director of programs at company NanoRacks. "We're kind of stepping up the complexity ... we're going to switch off which tools we're using, we'll be able to use screwdriver analogs and things like that; that will enable us to do even more work."

"We can look at even beyond just taking away something that the crew would have to spend time working on," she continued. "Now, we also have the capacity to do additional work in harsher environments we don't necessarily want to expose the crew to."

The European Space Agency, meanwhile, will be sending a 3D-printer that can create small metal parts. The goal here is to see how the structure of 3D-printed metal fares in space when compared to Earth-based 3D-printed metal. 3D-printed semiconductors, key components of most electronic devices, will be tested as well for a similar reason.

"When we talk about having vehicles in space for longer periods of time without being able to bring supplies up and down, we need to be able to print some of these smaller parts in space, to help the integrity of the vehicle over time," said Meghan Everett, NASA's ISS program deputy scientist.

Per Everett, this could also help scientists learn whether some sorts of materials that aren't 3D-printable on Earth can be 3D-printed in space. "Some preliminary data suggests that we can actually produce better products in space compared to Earth which would directly translate to better electronics in energy producing capabilities," she said.

Another experiment getting launched on Monday looks at the effects of microgravity on bone loss. Known as MABL-A, it will look at the role of what're known as mesenchymal cells (associated with bone marrow) and how that might change when exposed to the space environment. This could offer insight into astronaut bone loss a well-documented, major issue for space explorers as well as into the dynamics of human aging. "We will also look at the genes that are involved in bone formation and how gravity affected them," said Abba Zubair, a professor of Laboratory Medicine and Pathology at Mayo Clinic.

Lisa Carnell, division director for NASA's Biological and Physical Sciences Division, spoke about the Apex-10 mission headed up, which will see how plant microbes interact in space. This could help decode how to increase plant productivity on Earth, too.

Two of the other key experiments discussed during the presentation include a space computer and an artificial eye well, an artificial retina, to be exact. We'll start with the latter.

Nicole Wagner, CEO of a company named LambdaVision, has a staggering goal: To restore vision to the millions of patients that are blinded by end stage retinal degenerative diseases like macular degeneration and retinitis pigmentosa.

To do this, she and her team are trying to develop a protein-based artificial retina that's built through a process known as "electrostatic layer-by-layer deposition." In short, this consists of depositing multiple layers of a special kind of protein onto a scaffold. "Think of the scaffold almost like a tightly woven piece of gauze," Wagner said.

However, as she explains, this process on Earth can be impeded by the effects of gravity. And any imperfections in the layers can pretty much ruin the artificial retina's performance. So what about in microgravity? To date, LambdaVision has flown more than eight missions to the ISS, she says, and the experiments have shown that microgravity does indeed generate more homogenous layers and therefore better thin films for the retina.

"In this mission," she said, "we're looking at sending a powdered form of bacteriorhodopsin to the ISS that will then be resuspended into a solution, and we will be using special instruments, in this case spectrometers, to look at the protein quality and purity on the International Space Station, as well as to validate this process used to get the protein into solution."

Could you imagine if doctors would be able to commission a few artificial retinas to be developed in space someday, then delivered to the ground for implantation into a patient. And that this whole process could give someone their sight back?

As for the space computer, Mark Fernandez, principal investigator for the Spaceborne Computer-2 project, posed a hypothetical. "Astronauts go on a spacewalk, and after their work day, the gloves are examined for wear-and-tear,' he said. "This must be done by every astronaut, after every spacewalk, before the gloves can be used again."

Normally, Fernandez explains, the team takes a bunch of high-resolution photographs of the potentially contaminated gloves, then sends those images out for analysis.

This analysis, he says, typically takes something like five days to finish and return. So, hoping to solve the problem, the team developed an AI model in collaboration with NASA and Microsoft that can do the analysis straight on the station and flag areas of concern. Each takes about 45 seconds to complete. "We're gonna go on from five days to just a few minutes," he said, adding that the team also did DNA analysis typically conducted on the space station in about 12 minutes. Normally, he emphasized, that'd take months.

But, the team wants to make sure Spaceborne Computer-2's servers will function properly while on the ISS, hence the Cygnus payload. This will mark the company's third ISS mission.

"The ISS National Lab has so many benefits that it's attributing to our nation," Carnell said. "It creates a universe of new possibilities for the next generation of scientists and engineers."

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A robot surgeon is headed to the ISS to dissect simulated astronaut tissue - Space.com

Ax-3 astronaut snaps dizzying photo of ISS’s jam-packed interior – Space.com

A new view from inside the International Space Station captures a dizzying number of experiments underway in orbit.

European Space Agency (ESA) project astronaut Marcus Wandt recently shared a photo he took while floating in the microgravity environment of the orbiting lab's Destiny module. Destiny is the International Space Station's primary research laboratory and is therefore home to a wide range of experiments and studies.

In the photo, which Wandt shared on X (formerly Twitter) on Jan. 25, the walls of the Destiny module are lined with various pieces of equipment and cords strung about to keep all of the tools tethered. Wandt's legs and feet can also be seen floating in the foreground of the photo due to the weightlessness astronauts experience inside the spacecraft.

Related: International Space Station at 20: A photo tour

The Destiny module has 24 equipment racks, which support various studies related to health, safety and humans' quality of life. The space station offers researchers a unique opportunity to conduct experiments in the absence of gravity, thus allowing them to better understand humans and the world in which we live.

"An astronaut's perspective," Wandt wrote in the X post. "How does this photo make you feel: relaxed, stressed, giddy or wanting to rearrange everything?"

Wandt launched to the space station on Jan. 18 as part of Axiom Space's Mission 3 (Ax-3). Joined by mission specialist Alper Gezeravc of Turkey, commander and former NASA astronaut Michael Lpez-Alegra (who has dual U.S. and Spanish citizenship), and mission pilot and Italian Air Force Col. Walter Villadei, Ax-3 carries Axiom's first all-European crew.

The four Ax-3 astronauts are living and working in orbit for up to two weeks. They are tasked with over 30 experiments spanning various fields in science and technology aimed at propelling advancements in human spaceflight and contributing to enhancing life on Earth.

While some may see Wandt's photo and think the inside of the module appears a bit cluttered without the force of gravity to hold all of the equipment neatly in place, others may feel relaxed by the idea of floating weightless through space. However, despite the apparent disorganization, astronauts are trained to maintain a high standard of cleanliness, to ensure the safety and functionality of the space station.

So, the question remains: How does this photo make you feel?

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Ax-3 astronaut snaps dizzying photo of ISS's jam-packed interior - Space.com

Lichen Survives on Outside of International Space Station Explorersweb – ExplorersWeb

To ask if you could live outside the International Space Station (ISS) is rhetorical at best but could any living organism on Earth manage it?

One unassuming toughie did, and provided at least rough proof of concept that life could exist on Mars.

Lichen from Antarcticas McMurdo Dry Valleys survived 18 months on a platform attached to the outside of the ISSs Columbus module, Futurism reported. Though they emerged in worse shape than temperate lichens tested separately in Mars-like conditions, many still survived.

The International Space Station. Photo: NASA

The study authors focused on the success of the species in the Martian simulation.

The most relevant outcome was that more than 60% of the cellsremained intact after exposure to Mars, said Rosa de la Torre Noetzel of Spains National Institute of Aerospace Technology (INTA) and co-researcher on the project.

Survival in outer space itself was lower. Only around 35% of these lichens cells retained their membranes throughout the experiment.

Nevertheless, this is strong evidence that lichen is tougher than anything alive by many orders of magnitude.

For carbon-based life forms, outer space is in a word unsurvivable. In no particular order, space is:

However, repeated experiments have proven lichens resistance to these conditions.

In 2005, researchers placed lichens aboard a rocket and then attached them to a European Space Agency module outside a Russian satellite. They left them for 16 days, then brought them back home.

All exposed lichens, regardless of the optical filters used, showed nearly the same photosynthetic activity after the flight, the study said. These findings indicate that [most lichen cells] can survive in space after full exposure to massive UV and cosmic radiation, conditions proven to be lethal to bacteria and other microorganisms.

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Lichen Survives on Outside of International Space Station Explorersweb - ExplorersWeb

Sweden seeks to tighten NATO’s grip in Baltic Sea with 2 new submarines – POLITICO Europe

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KARLSKRONA, Sweden Theyve been on the drawing board for more than a decade, but in the heart of a vast assembly hall in a shipyard on the Baltic Sea coast, Swedens two new A26 attack submarinesare finally coming together.

Set for launch in 2027 and 2028, the 66-meter-long diesel-electric subs, named Blekinge and Skne after two Swedish counties, are designed to patrol NATOs eastern reaches under the Baltic Sea, tracking and countering Moscows maritime moves amid ever worsening relations between Russia and Europe.

The two are Swedens first new subs to be built since the mid-1990s and will join four older vessels in the Nordic states fleet.

We have a long history of building submarines, said Mats Wicksell, the head of Kockums, a business area of Swedish military equipment manufacturer Saab which is building the A26s. But this is still a big step forward for us.

The looming Swedish launches underscore a nascent subsea renewal in Northern Europe, where the Norwegian navy recently ordered four new submarines from Germanys ThyssenKrupp Marine Systems (TKMS). The Netherlands has received bids from TKMS, Saab Kockums and Frances Naval Group to build four submarines, while Denmark, which disposed of its fleet in 2004, recently suggested itmightreverse that move.

This expansion will partially bridge the gap to NATOs biggest European fleets, which are set for slight growth this decade, according to a report by Swedens Defense Research Agency. Six new French Barracuda class submarines are entering service and two further Type 212 subs will join an existing German fleet of six. The U.K.s fleet of Astute class submarines will total seven by the end of the decade and the Italian Todaro class submarines eight.

The European upgrades come amid a Russian PR drive about additions to its own fleet. In December, President Vladimir Putin posed on the dockside at Russias White Sea submarine production hub at Severodvinsk alongside two new vessels, the Krasnoyarsk and Emperor Alexander the Third.

The Russian navy will have 50 submarines in 2030, according to the Swedish report.

The U.S. submarine fleet is set to shrink slightly in numerical terms to 57 by 2030, but the continued introduction of the new Virginia class will serve to maintain and even widen America's technological advantage over its rivals during the same period, the Swedish report said.

Visited on a recent weekday, the Saab shipyard in the southern Swedish naval town of Karlskrona was humming with activity.

The partially built Blekinge was shrouded in scaffolding, while metal workers prepared further steel hull sections for highly skilled welders to later stitch together into a whole capable of withstanding blasts from mines and impact with the seabed. In another area, electricians threaded seemingly endless reams of wiring into high-tech interiors.

For Sweden, the long delayed new submarines they were initially supposed to enter service in 2018 and 2019 will be a shot in the arm in a rapidly deteriorating security environment.

Sweden has seenincursionsby an unidentified submarine in its territorial waters as well as explosions crippling the Russian-built Nord Stream natural gas pipelines in its maritime exclusive economic zone in 2022 and the severing of a subsea communications cable linkto Estoniain 2023.

Sweden reinstated conscription and remilitarized its strategically placed Baltic Sea of Gotland in the wake of Russias annexation of Crimea in 2014. Since the Kremlins full scale attack on Ukraine in 2022, it has boosted defense spending by 30 percent between 2023 and 2024 and applied to join NATO.

In early January, the Swedish government and the head of its armytoldcitizens to prepare themselves for war.

Theplan tolaunch the A26s has been a key pillar in Stockholms claim that it cancontributeto NATOs military strength,and isnt applying to join the alliance solely to benefit from its mutual defense guarantees.

Since the accession to NATO of the Baltic States in 2004 and Finland last April, the alliance has faced a headache over how to protect maritime supply lines to those states and restrict access to Russia in the event of conflict with the Kremlin.

Carl Gyhlenius, a Swedish former submarine commander and now a planner for the countrys navy, said he felt that NATO was getting a missing jigsaw piece with Sweden's NATO accession delayed by foot-dragging from Turkey and Hungary.

The Baltic Sea is hard to deal with if you don't have the necessary experience, and the fact that another country is joining NATO which has this as its backyard, with that regional expertise, that should ease operational problems, Gyhlenius said.

The Baltic is widely seen as a tricky operating environment because its varying salt levels affect sonar. It is also shallow and heavily trafficked, which increases collision risk.

On a recent visit to Stockholm, NATO Secretary-General Jens Stoltenberg praised Swedens defense industry saying it offered advanced technology across a range of branches addingthat the NATO accession of the Nordic statewill be a big advantagefor the alliance as it seeks to maintainits technological edgeoveritsrivals.

Swedens first submarine, called the Shark, was launched in 1904, and over the decades that followed the Swedish navyexpanded its underwater capabilities as part of its broader effort to mount a credible national defense as a neutral state betweenEast andWest.

Toward the end of the last century,Swedish engineers achieved a technical breakthrough with a system called air independent propulsion (AIP) which allowed Swedish submarines to operate for longer periods without surfacing, aiding their ability to evade detection.

Following the end of the Cold War, Sweden cut back on defense spending and its submarine program was largely on hold foradecade until 2010, when Defense Minister Sten Tolgfors announced a plan to build the A26.

Through this significant renewal, we are ensuring that the Swedish submarine fleet will continue to maintain the highest international class, he said. Modern submarines represent a significant obstacle to any actor who wants to use the Baltic Sea for anything other than peaceful shipping.

In the years since, the A26 project has been criticized for delays and cost overruns.

But its defenders say the wait and extra cost will be justified by the delivery of vessels tailor-made for Baltic Sea conditions at a time when control of that waterway is geopolitically vital.

In its promotional material, Saab notes that the dimensions of the A26 as well as its updated AIP system and new sonar-defeating hull design make it ideally suited to the Baltic.

It also has a new modular design, which will allow obsolete technology to be replaced with new systems more easily and a new portal toward the front of the boat will also allow easier interaction between the crew inside the vessel and divers or unmanned vessels operating outside, Saab says.

Kockums chief Wicksell said the A26 represents value for money because its combination of stealth and advanced weapons systems can help ward off foes and reduce the risk of a costly future conflict.

If I know there is something out there but I dont know where it is and I cant defend myself against it, that is a deterrent, he said.

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Sweden seeks to tighten NATO's grip in Baltic Sea with 2 new submarines - POLITICO Europe

British troops deploy to northern Norway ahead of huge NATO Arctic exercise – The Independent Barents Observer

The bi-annual winter wargamepreviously known as Cold Response has changed its name to Nordic Response. While Norway used to be a lonely NATO member above the European Arctic Circle, Finland and soon Sweden are now in the team of allied countries protecting shared freedom and democratic values.

About 20,000 soldiers will participate when the exercise kicks off in March.

British soldiers are already heading north, the Royal Navy informs.

Camp Viking, some 65 km south of Troms, serves as hub for the British soldiers winter training.

The UK Commando Force remains the partner of choice for our Norwegian counterparts, and increasingly to new NATO member Finland along with Sweden, whose Special Operations Forces and Coastal Rangers will be working with the Royal Marines, says Spokesperson for the Commando Force, Major Ric Cole.

Together, and with US and Dutch involvement, we seek to develop a potent force capable of Defending NATOs Arctic flank, he says.

About 1,000 British troopers will be at Camp Viking. Those already in place face freezing training in temperatures down to minus 25 degrees Celsius, honing their survival skills.

The Brits will also fly in helicopters like the Apache fighting aircraft first tested in Arctic Norway back in 2019.

Against the backdrop of Russias invasion of Ukraine, Norway and European neighbors have raised concerns about Putins Arctic rearmament. Before Putin ordered full-scale war, NATO membership was not on the agenda neither in Helsinki or Stockholm.

A core element duringNordic Response is to train cross-border defense and movement of military hardware between the northernmost parts of Norway, Sweden and Finland.

Air forces will be active with about 100 aircraft. Outside the coast of northern Norway, over 50 submarines, frigates, corvettes, aircraft carriers, and various amphibious vessels will be active, the Norwegian Armed Forces informs.

14 countries take part in Nordic Response with a total of about 20,000 soldiers. Unlike previous NATO exercises in northern Norway, core areas of operations are moved north to the Alta, Lakselv area, with corresponding sailings by warships off the coast of Finnmark.

Although still hundreds of kilometers from the border with Russias Kola Peninsula, the signaling effect to Moscow is not to be mistaken.

Excerpt from:

British troops deploy to northern Norway ahead of huge NATO Arctic exercise - The Independent Barents Observer

NASA and Russia will keep launching each other’s astronauts to ISS until 2025: report – Space.com

NASA and Russia have agreed to keep launching American astronauts and Russian cosmonauts on each other's spacecraft, media reports suggest.

Roscosmos announced both it and NASA will continue the International Space Station launches with each other's crew members through at least 2025, "to maintain the reliability of the ISS as a whole," according to multiple reports including the Moscow Times.

A NASA spokesperson confirmed the agreement in an email to Space.com. "NASA and Roscosmos have amended the integrated crew agreement to allow for a second set of integrated crew missions in 2024 and one set of integrated crew missions in 2025," the spokesperson wrote. "For continued safe operations of the space station, the integrated crew agreement helps ensure that each crewed spacecraft docked to the station includes an integrated crew with trained crew members in both the Russian and U.S. Operating Segment systems."

NASA and Roscosmos have an existing agreement to launch crew members on each other's spacecraft, to allow for independent launch access for both nations and backup in case of trouble. Right now the manifest includes SpaceX Dragon for NASA missions, and Soyuz for Russia. (When Boeing Starliner is ready, presumably it will be included too for U.S. missions.)

The ISS is manifested to last until at least 2030, as most of the international coalition has agreed to stick with it. Russia will remain until 2028 or so, based on the most recent reports; the country is working on a different set of space plans in the future.

Related: NASA working to get private space stations up and running before ISS retires in 2030

Though NASA and Russia are the chief ISS partners alongside the European Space Agency, Japan and Canada, relations changed in 2022 when Russia invaded Ukraine to the condemnation of most of the world. Most space partnerships were severed with Russia aside from the ISS, which remains for space policy reasons.

Russia and NASA operate different segments of the space station with different operational responsibilities. They also send up cargo ships for resupply missions and interface with the crew in independent mission controls.

Since 2022, Russia has teamed up with China to launch a moon-facing alliance. NASA also has its own group, under the Artemis Accords, a coalition of 30-plus nations that themselves promise peaceful space exploration norms with a subset of countries also participating in moon exploration.

The Artemis Accords aim to put astronauts on the moon no earlier than 2025 with Artemis 3, and have already launched Artemis 1 (uncrewed) in 2022 around the moon. Artemis 2, with four astronauts on board, should launch around the moon in 2024 or so.

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NASA and Russia will keep launching each other's astronauts to ISS until 2025: report - Space.com

China struggles to rebound a year after lifting COVID restrictions – NPR

An appliance market in Xi'an, China, where Jiang has a construction equipment rental company. He says economic conditions are worse now than during the pandemic, when he started the appliance business, and he isn't selling as much as he used to. John Ruwitch/NPR hide caption

An appliance market in Xi'an, China, where Jiang has a construction equipment rental company. He says economic conditions are worse now than during the pandemic, when he started the appliance business, and he isn't selling as much as he used to.

BEIJING On the northern edge of Xi'an, a 45-year-old man surnamed Jiang tells a typical story of dream-chasing in China's reform era.

He left his home village at the age of 18 to work in a diamond factory in southern China's Guangdong province, a manufacturing juggernaut. The pay was decent, he says, but after a decade he was restless. So he returned home, where he started a small construction equipment rental company.

Business was fine, he said, until state-backed competitors began attracting all the contracts. So he moved again, this time to the northwestern city of Xi'an, China's onetime imperial capital, now home to 13 million people.

"My hopes were big," he says, sitting in the back of the secondhand kitchen appliance shop that he runs with his family, surrounded by refrigerators, stoves and blenders. "Slowly, though, they have been obliterated."

A year ago, China lifted draconian COVID restrictions that were an anvil around the neck of the economy and placed unprecedented controls on a society that, for the previous four decades, had grown accustomed to expanding personal freedoms, not shrinking them.

Many expected the country to bounce back quickly, with economic growth reverting to a slower but respectable mean. That hasn't happened. And as 2024 approaches, there is a crisis of confidence in China that the authorities appear to be doing little to address, instead nibbling at the edges of policy and avoiding bold steps to revive the economy and regain public trust in policymaking.

Jiang is one of several people NPR recently spoke with to try to gauge the mood in post-pandemic China and highlight how things have changed over time.

For Jiang, who did not want his full name used for fear of possible repercussions for speaking candidly to a foreign reporter, economic conditions are actually worse now than during the pandemic, when he started the appliance business, he says. He isn't selling as much as he used to.

Like many in China who have been conditioned to avoid publicly criticizing the ruling Communist Party, he chooses well-worn rhetoric absolving the leadership when asked if he thinks policy might be to blame.

"Whatever the national policy, it's meant to do good for the country and the people. You can't deny that," he said. "But as they say: The higher-ups have their policies and the lower-downs have their ways of getting around them. ... Each policy that comes from the top is discounted on the way down, and then discounted again as it goes down line. The policies are definitely good, but when they get down to the local level, they've completely changed."

At this point, Jiang's ambition the same drive that, multiplied across hundreds of millions of people, fueled China's economic rise has been sapped.

In Beijing, Joerg Wuttke has had a front-row seat to China's spectacular rise. He first came to the country as a businessman from Europe 41 years ago.

"When I was coming in '82, people took pictures with cars and paid for the picture. And now we have 5 million cars in Beijing. So it's a completely different country, with upsides but also with it downsides," he said. (The Beijing government said that at the end of 2022 there were, in fact, more than 7 million motor vehicles registered in the city, and over 12 million drivers.)

Joerg Wuttke, then the European Chamber of Commerce president, at a press conference in Beijing in 2015. Ng Han Guan/AP hide caption

Joerg Wuttke, then the European Chamber of Commerce president, at a press conference in Beijing in 2015.

I first met Wuttke a little over 20 years ago, when our offices were in the same building near Beijing's Liangma River. China had just joined the World Trade Organization. The reform-minded Zhu Rongji was premier.

"It was a China which actually was very open and could sort of give us some indications of where we're heading, you know, to a more open, liberal society. Globalization would be coming into town," said Wuttke, who has been doing business here for most of the past four decades, and lobbying for European companies as head of the European Chamber of Commerce for part of that time.

Today, he says, the Communist Party has become more dominant across society than he thinks it was when he first came to China before reform and opening really started to take off.

"For Xi Jinping, it's clear ideology trumps the economy," he says of China's current leader.

He says that's underpinned an intrusion of politics into business.

Chinese leader Xi Jinping reviews the honor guard at the Great Hall of the People in November in Beijing. Florence Lo/Pool/Getty Images hide caption

Chinese leader Xi Jinping reviews the honor guard at the Great Hall of the People in November in Beijing.

"You have party cells coming up into Chinese private enterprises. You have a far more [and] stronger party awareness on TV or radio than it was maybe in '82. So, yeah, it's, it's more ideologically driven these days than it was 40 years ago," he said.

Combined with geopolitical frictions, Wuttke says it has become "far more complex" to steer any company in China.

In November, quarterly data showed that foreign direct investment in China contracted for the first time on record. Business confidence is down, and the real estate sector is struggling, underpinning weak consumer confidence. The future is less certain than it always seemed to be. The World Bank forecasts that China's GDP growth will slow sharply in the next two years.

"I think the opening-eye moment for me came in 2022," Wuttke says. It was a year when the government hewed for too long to an unbending and unforgiving zero-COVID policy that involved heavy travel restrictions, snap lockdowns and forced quarantines. Wuttke is leaving China, though he says his decision has nothing to do with current events.

In Shanghai, that policy turned a high school teacher into an exiled dissident.

Huang Yicheng taught Chinese language and literature in a northwestern suburb of the country's most cosmopolitan city. He says he was always in favor of the idea of more freedom, but as someone who grew up in China, human rights wasn't something he spent much time thinking about.

Huang Yicheng poses during an interview with Reuters in Hamburg, Germany, in April. He grew up in China and says he never really thought of leaving. But when Shanghai was locked down, he lost faith. Fanny Brodersen/Reuters hide caption

Huang Yicheng poses during an interview with Reuters in Hamburg, Germany, in April. He grew up in China and says he never really thought of leaving. But when Shanghai was locked down, he lost faith.

Instead, "if I could live normally, go to work, have some fun, be with my family, make some money, eat, then it'd all be fine," he said.

But in the spring of 2022, the omicron variant of COVID-19 arrived and the Shanghai government ordered its 26 million residents to stay home to stop the spread. A lockdown that the authorities said would last about a week stretched for two long months.

Huang says being forcibly confined to his home felt like living on an animal farm. He felt unsafe being locked in his apartment with no control, and no end in sight. "It was really scary," he said. "It didn't feel safe."

And it changed something inside him.

"Before the lockdown, I thought Shanghai would be fine," he said. "There was a lot of bad news about the pandemic, and I knew things weren't great, but I thought bad things could happen in other places but Shanghai still had hope."

When his city was locked down, he lost faith.

"I thought everything was fake. The security and order and freedom, it could all be taken away. So I had no faith in this government, in this political system."

Later that year, when protests erupted in Shanghai and elsewhere in China against the draconian COVID policies, Huang got involved. The demonstrations became known as the White Paper Revolution, because many participants took to brandishing blank pages of A4-size paper to symbolize all that could not be said publicly in China.

Protesters hold up blank sheets of paper and chant slogans as they march to protest strict anti-virus measures in Beijing on Nov. 27, 2022. Thousands of people demonstrated across China, waving sheets of white paper to represent the country's strict censorship. Ng Han Guan/AP hide caption

Protesters hold up blank sheets of paper and chant slogans as they march to protest strict anti-virus measures in Beijing on Nov. 27, 2022. Thousands of people demonstrated across China, waving sheets of white paper to represent the country's strict censorship.

"The white paper movement really made me feel hopeful," he said. "Finally, Chinese people were coming out to resist."

He joined a crowd at an intersection in Shanghai's former French concession neighborhood, where protests had taken place the previous night. Huang says he mostly hung back. But when police cleared protesters that night, he was grabbed, roughed up and briefly detained.

Months later, after lying low, he fled to Germany.

"I had never really thought of leaving. Really. I thought, if this country's not good, you don't necessarily need to leave it. You can stay and do some small things to make change," he said.

Instead, the pandemic changed him.

Back in Xi'an, a man whom NPR first talked with a year ago is settling into his new home.

Last year, Lee Shin was squatting in an unfinished apartment he had bought nine years earlier. It was on the 28th floor and there was no electricity.

"We used a tank gas stove, and we had to fetch bottles of water from downstairs," he said. (Lee Shin is a nonstandard Romanization of a nickname he asked NPR to use because police have pressured him not to speak publicly about the construction problem at his apartment complex.)

Not long after Lee bought the unfinished apartment, construction stopped when the property developer allegedly lost money in other investments.

The problem of unfinished apartment complexes is widespread in China and the projects are called lanwei lou, Chinese for "rotten tails."

This year, the building was finally completed and Lee and his wife could fully move in. But after so many years of uncertainty, it was a letdown.

"So when we got the key and opened the door, there was no feeling of excitement. When we went in, we just wanted to cry," he says.

Outside the apartment complex where Lee Shin and his wife finally moved in after years of delay. Not long after Lee bought the unfinished apartment, construction stopped when the property developer allegedly lost money in other investments. John Ruwitch/NPR hide caption

Outside the apartment complex where Lee Shin and his wife finally moved in after years of delay. Not long after Lee bought the unfinished apartment, construction stopped when the property developer allegedly lost money in other investments.

His life plans for an early wedding, for kids were set back by years. And home prices have been falling in China amid a slow-motion crisis unfolding in the property sector, driven in part by government policies. It's unclear how the authorities will manage the fallout from collapsing developers and falling home prices.

But now, finally in their new home, surely things were looking up for Lee and his wife?

He says he has more peace in his life, for the most part. But work is bad in his field of interior design because of the property downturn, and his ambitions have been tempered. Among other things, he says he does not want to have a child now.

"I don't have any aspirations, and I don't think I want to have any aspirations anymore," he said. "None of my wishes have come true."

Aowen Cao contributed reporting from Beijing.

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China struggles to rebound a year after lifting COVID restrictions - NPR

Supercomputer predicts Boxing Day results as both Liverpool and Manchester United get ready for action – Sportskeeda

A supercomputer has predicted contrasting results for Manchester United and Liverpool as they take the field on Boxing Day in the Premier League.

According to Caught Offside, a supercomputer has predicted Liverpool to secure an emphatic 4-0 victory over Burnley at Turf Moor. The same computer has predicted Manchester United to once again drop points and pick up a 2-2 draw against Aston Villa at Old Trafford.

Both sides desperately need a win heading into their respective Boxing Day fixtures. The Reds have drawn their last two home games against United and then against Arsenal on Saturday, December 23.

Erik ten Hag's side, however, are in an even worse run of form in the Premier League. The Red Devils are currently winless in their last three league games and have failed to score a goal in each of those outings. They come into the game on the back of a 2-0 loss to West Ham United at London Stadium.

The two aforementioned fixtures are not the only Boxing Day games the supercomputer predicted. The computer also predicted wins for Nottingham Forest, Fulham, and Luton Town against Newcastle United, Bournemouth, and Sheffield United, respectively.

According to the aforementioned source, the supercomputer has taken various factors into consideration while making these predictions. Things like a team's record in past Boxing Day games, current form, etc. were all contributing factors for the predictions made.

Liverpool and Manchester United have had contrasting fortunes in the 2023-24 season so far. The Reds are in the midst of a title race with the likes of Arsenal, Aston Villa, and Manchester City.

The team from Merseyside are currently second in the table, having accumulated 39 points from 18 games. They are just one point behind league leaders Arsenal.

United, on the other hand, are struggling to secure European football of any flavor. At the time of writing, they are eighth in the standings, having picked up 28 points from 18 matches. Erik ten Hag's side are eight points behind Tottenham Hotspur who currently occupy the final Champions League spot.

Manchester United did secure a 0-0 draw against Liverpool at Anfield earlier this month. Jurgen Klopp's side dominated the affair with 69 percent possession and 34 shots in the game to United's six but still failed to make use of their chances.

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Supercomputer predicts Boxing Day results as both Liverpool and Manchester United get ready for action - Sportskeeda

Valkyrie’s Fourth Amendment for the Launch of a Bitcoin ETF – Crypto Times

A prominent player in the digital asset management industry, Valkyrie Investments, recently filed its fourth amendment with the Securities and Exchange Commission (SEC) to introduce a spot Bitcoin Exchange-Traded Fund (ETF) in the US.

This move demonstrates Valkyries continued commitment to getting past regulatory obstacles, despite past setbacks.

The companys unwavering strategy in this area demonstrates its commitment to creating a Bitcoin spot ETF, a financial instrument that has seen tremendous demand but intense regulatory scrutiny.

This comes after news that CoinShares, a well-known European cryptocurrency exchange-traded fund issuer, has acquired the sole right to buy Valkyrie Funds, with an expiration date of March 31, 2024.

This calculated move emphasizes the goal of strengthening a dominant position in the US digital asset investment market to create a comprehensive worldwide platform for digital asset investments.

This partnership could change the environment for bitcoin investments by bringing together a wealth of knowledge and resources from the digital asset management sector.

The fact that Blackrock and Fidelity have recently held talks with the SEC has added to the industrys growing expectations.

With a crucial deadline approaching on January 10, 2024, this development is seen as a promising sign of the SECs upcoming decision-making regarding the approval of spot Bitcoin ETFs.

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Valkyrie's Fourth Amendment for the Launch of a Bitcoin ETF - Crypto Times

‘Get Brexit Done’ is now ‘Stop the Boats’: Is the Rwanda Bill the Conservatives’ Trojan Horse? Byline Times – Byline Times

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One of the lines that stays with me from learning Latin at school is from Virgils epic poem, the Aeneid Timeo Danaos et Dona Ferrentes (I fear the Greeks, even when they bring gifts). This line was uttered by the Trojan priest, Laocoon, who was warning that the Trojan Horse apparently gifted to the city of Troy by the departing Greeks might actually be a trap.

In similar fashion, I cant help feeling that I cant Trust the Conservatives, even when they obey the Law.

A huge song and dance was made by the Government before last weeks first vote on its Safety of Rwanda (Asylum and Immigration) Bill that the legislation just stayed within the framework of the European Convention of Human Rights.

The Bill, if adopted, would allow government ministers to ignore temporary injunctions raised by the European Court of Human Rights to stop flights taking off at the last minute. However, it would still allow asylum seekers to launch legal appeals to argue that they should be spared deportation, if they can claim various special circumstances.

Supporters of the Governments approach argue that the Bill goes as far as it can, without breaching international law and that Rwanda itself would withdraw from the scheme if the UK went any further.

Conservative opponents of the bill, including 29 MPs from the right wing of the party, who abstained on the vote, argue that it does not go far enough and that the language should have explicitly ruled out the scope for any legal challenges to deportation, whether under domestic or international human rights law.

Former Immigration Minister Robert Jenrick, who resigned over his disagreement with Rishi Sunaks migration policy, was even quoted (ironically, on Human Rights Day) as saying that the Government must put the views of the British public above contested notions of international law and that MPs are not sent to Parliament to be concerned about our reputation on the gilded international circuit.

I feel a weary sense of dj vu. This is Brexit, on repeat.

Former British diplomat Alexandra Hall Hall reflects on the complexities involved in the conflict and why there are no easy answers if any

Alexandra Hall Hall

Yet again, we have some members of the Conservative Party arguing that the UK needs to abandon another European institution this time the European Court of Human Rights in order to take back control of immigration.

Yet again, they scapegoat others on this occasion lefty lawyers for thwarting the will of the people.

Yet again, they claim unique knowledge and possession of what that will of the people actually is though there has been no explicit vote put to the public as to whether they really do support the Rwanda scheme, even if it involves the UK derogating from some aspects of human rights law. Just as there never was any explicit indication in the EU Referendum that the British public wanted the most hardline break with Brussels, including departure from the Customs Union and Single Market.

Yet again, we have Conservative MPs misrepresenting the facts, to argue that the Rwanda scheme will brilliantly solve all of the UKs immigration problems despite the evidence that it will only ever be able to remove a few hundred migrants, at most, and only at vast expense; that it will do nothing to resolve the massive asylum claim backlog; and the fact that most immigrants to the UK come here legally, partly as a result of the Governments own migration policies.

But then, Conservative MPs never acknowledge inconsistencies in their arguments, whether over Brexit or now over immigration.

Just like during the Brexit debates, Conservative MPs now are also happy to gloss over inconvenient facts regarding migration such as that our health, care, agriculture and hospitality sectors are dependent on affordable immigrant labour, and that there are no safe, legal routes for asylum seekers to come to the UK.

Instead, they waffle on about this being yet another issue of sovereignty. Indeed, the Rwanda Bill goes one step further than Brexit, in deliberately overriding the Supreme Courts judgment on Rwanda, to assert that Rwanda actually is a safe country. So now, not just laws, but facts, are whatever the British Government says them to be.

Russian President Vladimir Putin or Chinese President Xi Jinping are no doubt delighted to see members of the British political establishment adopt their practices of disinformation and disdain for international law. How much easier it makes it for them to continue gulling their own citizens, and defying international conventions and treaties, when they can point to a country like the UK previously a stalwart defender of the international rules-based order doing the same.

And just as during Brexit, so now, we have different factions of the Conservative Party tearing themselves to shreds, while critical national and international problems go unaddressed.

The hapless Sunak is in the role of Theresa May, desperately trying to hold his party together and risking pleasing none. The same Goldilocks dilemma prevails his immigration policy risks being too hard for the One Nation group of MPs on the moderate wing of the party, but too soft for the so-called Five Families factions on the right wing of the party.

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Terrified of losing voters to Nigel Farage and the Reform Party, Sunak, like May, will keep trying to appease the migration hardliners, though they will never be satisfied until he has fully ruptured relations with the ECHR. Terrified of alienating traditional conservative voters in their constituencies, the centrist MPs will hold their noses and keep going along, putting party before principle, time and again.

The one advantage Sunak has over May is that it would be hard, even for this shameless party, to seek to replace him as party leader, without triggering a general election, in which on current polling many MPs would lose their seats.

But this is precisely why I sense a trap.

For now, Sunak can play the role of responsible statesman, doing his best to restrain the more extreme members of his party, and insisting that any British legislation should stay just on the right side of the law. If the legislation passes, and asylum seekers start being deported to Rwanda even if its only a few dozen he can make the case that his scheme works, and campaign in the general election for voters to back him, in order to allow it to continue.

But if the legislation falls, or squeaks through only to be defeated again in the courts, before any asylum seekers are deported, Sunak can switch tactics to campaign full bore in support of leaving the ECHR on the grounds that he has exhausted all options and that his hand has been forced into accepting the most extreme approach.

This ploy might not be enough to prevent Conservative defeat to the Labour Party, but it might be enough to save a few seats and to allow the party to keep posturing in hardline fashion on immigration, without ever having to suffer the embarrassment of the Rwanda scheme failing, or having to deal with the damaging wider consequences of leaving the ECHR, such as for the Good Friday Agreement, or our post-Brexit relationship with the EU.

Like the Trojan Horse, I believe the Rwanda bill is a set-up. Get Brexit Done is now Stop the Boats. But, unlike the good citizens of Troy, I believe British voters will not let themselves be suckered a second time.

Never trust the Conservatives, even when they bring gifts.

Originally posted here:

'Get Brexit Done' is now 'Stop the Boats': Is the Rwanda Bill the Conservatives' Trojan Horse? Byline Times - Byline Times

The new UK short selling regime: another step away from the EU post-Brexit – Freshfields Transactions

HM Treasury published, on 22 November 2023, a draft of the Short Selling Regulations 2024 (SSR 2024), along with a policy note. The draft statutory instrument (SI) is intended to establish a new regulatory framework to replace the retained Short Selling Regulation (the UK SSR), which was based on Regulation (EU) 236/2012 (the EU SSR) and incorporated into UK law by the European Union (Withdrawal Act) 2018. This represents another step in the UK governments programme of financial services regulatory reform following the UKs exit of the European Union.

Short selling is the practice of selling a security that is borrowed or not owned by the seller with the intention of repurchasing it later at a lower price to make a profit. The EU SSR was introduced to respond to concerns regarding the short selling of shares in financial institutions and of euro area sovereign debt, as well as a lack of information and transparency to the market and authorities with regard to the effect of short selling on prices and ultimately, financial stability.

Pursuant to the Financial Services and Markets Act 2023 (FSMA 2023), the UK SSR will be repealed on a date yet to be determined. In December 2022, HM Treasury launched a call for evidence in which it sought views on the new regulatory framework to replace the UK SSR. The call for evidence closed in March 2023, and the government published its response in July 2023. HM Treasury ran a separate consultation in July 2023 on aspects of the UK SSR related to sovereign debt and credit default swaps (CDS), and published its response to that consultation alongside the draft SI.

The key highlights of the SI include provisions relating to:

1.Scope

The SI defines short selling as a designated activity, which will give the FCA a range of rulemaking, supervisory and enforcement powers with respect to short selling, including by firms that are not subject to FCA authorisation. Further, it requires the FCA to publish a list of shares to which certain rules apply and empowers the FCA to exempt shares from certain notification and other requirements.

2. FCA rule-making powers

The SI empowers the FCA to make rules requiring short sellers of shares to comply with certain conditions or requirements, such as imposing restrictions on uncovered short selling to protect against settlement risks.

3.Disclosure

The initial notification threshold for net short positions has been set at 0.2%. The SI empowers the FCA to set out certain elements of the net short position notification regime, such as detailing how to calculate a net short position and when a notification is required. It also requires the FCA to aggregate and publish net short positions notified on any working day in respect of the issued share capital of a company.

4. Market maker exemption

The SI provides the FCA with the power to exempt market making activities and stabilisation from certain short selling requirements. The exemption will be available to members of UK trading venues and trading venues in other jurisdictions for which HM Treasury has made a determination. The existing equivalence determination for the EEA will remain in place for a transitional period.

5. Emergency powers

The SI gives the FCA the power to intervene in exceptional circumstances, such as requiring notifications of short positions or lending fees, prohibiting or imposing conditions on short sales, or restricting short selling after a significant fall in the price of a financial instrument. The FCA can exercise these powers where it considers that there is a threat to financial stability or in order to prevent a disorderly decline in the price of a financial instrument, and the benefits of an intervention outweigh the detrimental impact of such an intervention on financial markets.

The FCA must publish a notice of any decision to exercise these emergency powers, and it must review any requirement, prohibition, condition or restriction on a regular basis. The SI also requires the FCA to publish a statement of policy on how it considers it will use these intervention powers.

Differences between the UK SSR and the SSR 2024

Generally,the overarching framework relating to short selling remains unchanged between the UK SSR and the SSR 2024. The core definitions and requirements remain largely the same.

The SSR 2024 will reinstate the original requirement for firms to notify the FCA of net short positions above 0.2% of issued share capital. This threshold was lowered to 0.1% in 2021 in response to market uncertainty caused by the Covid-19 pandemic. The government has laid a separate statutory instrument that will increase the threshold in the UK SSR to 0.2% from 5 February 2024.

In line with the wider changes introduced as part of the UKs post-Brexit strategy, the SSR 2024 aims to build on the governments approach to build a Smarter Regulatory Framework for financial services. Under the new regime, detailed rules will be set by the FCA in its Handbook within a legislative framework as opposed to the detailed rules being set out in legislation. These regulatory reforms are intended to achieve greater flexibility and adaptability.

Another difference between the two regimes is that the SSR 2024 provides for a broader scope of shares traded on a UK trading venue and related instruments to be covered by the FCAs rules, whereas the UK SSR exempts shares that are principally traded outside the UK from certain requirements. The FCA will have the power to exempt shares from requirements where appropriate and will be required to publish a list of all shares subject to its rules on short selling, which could ultimately result in a narrower set of shares being subject to the short selling rules.

In addition, whereas the UK SSR contains provisions relating to sovereign debt and sovereign CDS, the SSR 2024 will not impose restrictions on the uncovered short selling of UK sovereign debt and CDS, and it will remove reporting requirements with respect to sovereign debt and CDS positions. However, the FCAs emergency intervention powers with respect to these products are retained.

Furthermore, under the SSR 2024, the FCA will be required to publish aggregated net short positions based on individual position notifications it receives from short sellers, whereas the UK SSR requires the FCA to publish individual net short positions above 0.5% of issued share capital, including the identity of the short seller. The new approach will set out the overall net short position in a particular companys shares but avoids disclosure of the names of individual short sellers as is currently the case under the UK SSR.

Next steps

HM Treasury intends to lay the final SI before Parliament in 2024, subject to Parliamentary time. Whilst the policy approach on this area is settled, some drafting and technical aspects may change in the final SI. The deadline to provide any technical comments to HM Treasury is 10 January 2024.

The FCA has indicated that it will consult in 2024 on how it plans to exercise its rule-making powers under the new regime. The final SI will commence at the same time as the FCA makes new rules, alongside the repeal of the UK SSR.

The draft SI does not contain any supervision or enforcement provisions. Instead, these will be covered in a separate SI on the designated activities regime (DAR), which the government plans to publish in early 2024. The DAR SI will contain cross-cutting supervision and enforcement provisions that apply to all designated activities, including short selling.

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The new UK short selling regime: another step away from the EU post-Brexit - Freshfields Transactions

David Cameron’s U-turn on Brexit is truly embarrassing – The New European

It seems that seven years in a shepherds hut has somehow changed Lord Camerons mind.

Here was I thinking that he was still in favour of the UK being in the EU, that he must be deeply ashamed and contrite about the damage that his calling and losing of the Brexit referendum has caused to the country he loves, and that he would want to re-establish the closest possible ties with the EU as soon as possible.

But it turns out there is no zeal from Cameron to right the wrongs for which he is partially responsible. He is merely a humble public servant who answered the call to serve again. To serve a party that rejected him, to serve a PM whose policies he fought against, to serve a cause he knows is not in the national interest, and to serve a government that is willing to break international law. The former PM makes the Vicar of Bray look like a man of deep, unbending, moral principle.

Lord Camerons grilling by the House of Lords European Affairs Committee was always going to be a rather embarrassing event, where the former PM had to answer questions on why he was implementing a European policy which he previously called a threat to national security and to the economy.

Where he said as PM that the UKs membership of the EU maximised our influence in foreign affairs, now we just have to make the most of the situation we are in, he told their Lordships. Far from being a direct answer this is a disingenuous one. Apparently trying to bend the EU to the UKs way of thinking used to be frustrating and the new ad hoc arrangement is working well (although presumably nothing like as well as it used to when we were sitting round the table, you know being ad hoc and all that).

Lord Cameron also thinks the UKs relationship with the EU is positive and driving good results, is functioning well and that a lot of the heat and anger has subsided.

The stuff left unsaid and unanswered was: is the relationship as positive and good as it used to be, are the results as good, is the relationship functioning as well as it did pre-Brexit and how much heat and anger is left to undermine that relationship?

The foreign secretary, also said that UK/EU relations were now much more functional heaven knows how dysfunctional they got if this is an improvement and we just wanted to be the EUs friend, neighbour and partner, which does sound a bit like a pathetic Billy No Mates asking to join the playground games.

But perhaps the best bit is this; apparently the foreign secretary finds it interesting to come back and see how it is working. Yes, I suppose it must be interesting.

Having called a referendum purely to try to settle an ongoing Tory civil war that has continued virtually unabated for the last seven years, having risked his countrys economy and influence and security (his words) by calling and then incompetently losing that referendum, then having wandered off humming and spending seven years making money, David swans back to the Foreign Office to take a good look at how bad things have got.

If he had said to the Committee, It is far worse than even I feared, we are a laughing stock, our influence is diminished and we are less secure, poorer and permanently on the outside looking in, you might think more of the man.

But apparently it is nothing to do with Dave he is the impartial witness to someone elses crime. He just wishes to serve, to make the best of a bad job.

God, this noblesse oblige can be a right pain sometimes, but it can make life more interesting. Especially for those stuck sulking in a field, in a shepherds hut.

Read the rest here:

David Cameron's U-turn on Brexit is truly embarrassing - The New European

Populist legacy will weigh on Poland’s next government – Yahoo News

Expectations for Poland's pro-EU government which is due to take power next week are sky-high but current ruling nationalists will still be a powerful and influential opposition, analysts say.

A coalition of pro-EU parties headed up by former European Council president Donald Tusk won a majority in parliamentary elections on October 15 against the right-wing populist Law and Justice (PiS) party.

Tusk, who is also a former prime minister, will have his work cut out after eight years of PiS in power.

"There won't be any miracles" as the new government faces daily battles with PiS which "will continue to fight", Jaroslaw Kuisz, a political analyst, told AFP.

"It will be like going through mud" and quick change is unlikely as PiS leaves "a judicial minefield", he said.

PiS will be the biggest single party in the new parliament with 194 out of 460 seats in the lower house and has shown it intends to be a combative opposition.

The party also has allies in the presidency, the central bank and the supreme court, as well as several important judicial and financial state institutions.

It also dominates state media organisations, which have become a government mouthpiece during its rule.

- 'Wreaking havoc' -

Analysts speak of a "spider's web" woven by PiS by putting allies in influential roles with mandates that will last long into the new government's tenure.

President Andrzej Duda is due to step down ahead of a presidential election in 2025 but he could use blocking tactics between now and then, vetoing legislation brought to him by the pro-EU majority in parliament.

The head of state gave an insight into his intentions by initially nominating the PiS prime minister Mateusz Morawiecki to form a new government even though it was clear the party had no majority from the outset.

He effectively gave PiS two more months in power.

Tusk has reacted angrily, saying on Friday that PiS has spent its last few weeks in power "wreaking havoc, destroying the Polish state".

Kuisz said the party has used the time "to reinforce itself institutionally and financially".

PiS has named two former ministers to head up important state financial institutions and new prosecutors.

The president has also approved 150 new judges nominated by a body that was criticised by the European Union as being too much under the influence of PiS.

Controversial judicial reforms introduced by PiS have pushed Brussels to freeze billions of euros in funding destined for Warsaw which Tusk wants to unblock.

- 'Restore Poland's credibility' -

There is also uncertainty over the true state of the economy and there is the budget, which the new government will now only have 15 days to put together.

One key question for the new cabinet will be whether to continue with social welfare payments introduced by PiS and enact campaign promises such as salary raises for teachers and civil servants.

Difficulties in an economy still reeling from high inflation have not prevented PiS from transferring millions of euros into various foundations which experts say will allow PiS to ride out its time in opposition before a possible return to government.

In terms of foreign policy, the future government faces the challenge of resolving tensions with Ukraine, including over a border blockade by Polish truckers.

Tusk "has to restore Poland's credibility in Brussels", said Ewa Marciniak from the University of Warsaw.

"Poland's return to the European mainstream was one of the main motivating factors for voters" who cast their ballots for the anti-PiS coalition, she said.

Since they came to power in 2015, PiS has been constantly at odds with Brussels, accusing the EU of weakening the sovereign rights of nation states.

Tusk has promised that those tensions will ease.

"I am sure that a majority of European leaders will now rely on the Polish position," he said on Friday.

bo/imm

Here is the original post:

Populist legacy will weigh on Poland's next government - Yahoo News

Populist legacy will weigh on Poland’s next government – Branson Tri-Lakes news

Expectations for Poland's pro-EU government which is due to take power next week are sky-high but current ruling nationalists will still be a powerful and influential opposition, analysts say.

A coalition of pro-EU parties headed up by former European Council president Donald Tusk won a majority in parliamentary elections on October 15 against the right-wing populist Law and Justice (PiS) party.

Tusk, who is also a former prime minister, will have his work cut out after eight years of PiS in power.

"There won't be any miracles" as the new government faces daily battles with PiS which "will continue to fight", Jaroslaw Kuisz, a political analyst, told AFP.

"It will be like going through mud" and quick change is unlikely as PiS leaves "a judicial minefield", he said.

PiS will be the biggest single party in the new parliament with 194 out of 460 seats in the lower house and has shown it intends to be a combative opposition.

The party also has allies in the presidency, the central bank and the supreme court, as well as several important judicial and financial state institutions.

It also dominates state media organisations, which have become a government mouthpiece during its rule.

Analysts speak of a "spider's web" woven by PiS by putting allies in influential roles with mandates that will last long into the new government's tenure.

President Andrzej Duda is due to step down ahead of a presidential election in 2025 but he could use blocking tactics between now and then, vetoing legislation brought to him by the pro-EU majority in parliament.

The head of state gave an insight into his intentions by initially nominating the PiS prime minister Mateusz Morawiecki to form a new government even though it was clear the party had no majority from the outset.

He effectively gave PiS two more months in power.

Tusk has reacted angrily, saying on Friday that PiS has spent its last few weeks in power "wreaking havoc, destroying the Polish state".

Kuisz said the party has used the time "to reinforce itself institutionally and financially".

PiS has named two former ministers to head up important state financial institutions and new prosecutors.

The president has also approved 150 new judges nominated by a body that was criticised by the European Union as being too much under the influence of PiS.

Controversial judicial reforms introduced by PiS have pushed Brussels to freeze billions of euros in funding destined for Warsaw which Tusk wants to unblock.

There is also uncertainty over the true state of the economy and there is the budget, which the new government will now only have 15 days to put together.

One key question for the new cabinet will be whether to continue with social welfare payments introduced by PiS and enact campaign promises such as salary raises for teachers and civil servants.

Difficulties in an economy still reeling from high inflation have not prevented PiS from transferring millions of euros into various foundations which experts say will allow PiS to ride out its time in opposition before a possible return to government.

In terms of foreign policy, the future government faces the challenge of resolving tensions with Ukraine, including over a border blockade by Polish truckers.

Tusk "has to restore Poland's credibility in Brussels", said Ewa Marciniak from the University of Warsaw.

"Poland's return to the European mainstream was one of the main motivating factors for voters" who cast their ballots for the anti-PiS coalition, she said.

Since they came to power in 2015, PiS has been constantly at odds with Brussels, accusing the EU of weakening the sovereign rights of nation states.

Tusk has promised that those tensions will ease.

"I am sure that a majority of European leaders will now rely on the Polish position," he said on Friday.

Excerpt from:

Populist legacy will weigh on Poland's next government - Branson Tri-Lakes news

COP28: EU joins forces with Latin America and Caribbean to combat sargassum and make it an economic opportunity … – European Union

Today at COP28, the EU and the Government of Dominican Republic co-organised the COP 28 Sargassum Panel Urgency and Opportunities for Action and Investment at the Dominican Republic Pavilion. The Panel brought together the governments of the Barbados, Dominican Republic, Mexico, regional actors such as the Caribbean Community (CARICOM), the Central American Commission on Environment and Development (CCAD) and representatives from the private sector.

This forum follows both regions joint commitments at the EU-CELAC summit in July 2023, where, leaders pledged to work together to combat sargassum in the Caribbean. Under the EU-LAC Global Gateway Investment Agenda the EU roadmap for potential investment projects to help address the region's infrastructure needs the EU launched Turning sargassum into an economic opportunity, a Team Europe Initiative that aims to reduce the damage caused by these algae and integrate them into the circular economy, where, for example, sargassum would be transformed into cosmetics, fertilizers, electricity and biomass. It also includes aspects related to monitoring, research and the mobilisation of resources to maximise impact for tackling and optimising both regions joint approach.

The forum at COP28 contributed to consolidating understanding, review ongoing experiences and identify opportunities for future joint actions. Since the EU-Caribbean Sargassum conference in June 2023 in Santo Domingo, this follows close coordination between the EU, Caribbean and Latin American partners to combat the challenge of sargassum and make it an economic opportunity.

More than a decade has passed since the first mass strandings of sargassum in the Latin America and Caribbean region, countries are faced with exponentially increasing accumulations on their shores. The trend continues to impact key coastal ecosystems contributing to major negative economic, environmental and health impacts.

The panel, facilitated by EU programme Euroclima, complements the event Combatting together the toxic effects of massive sargassum groundings in the Caribbean and beyond, organised by France on December 2nd with the Vice-President of the Guadeloupe Region, and with the support of the Dominican Republic, Costa Rica, Mexico and the OECS, which promoted an international political initiative in the run-up to the United Nations Conference on the Oceans, due to be held in Nice in June 2025. The French government is a key Team Europe partner in the political discussions to building a collective and strategic approach to addressing sargassum.

Through the ongoing actions, and as part of Global Gateway, the European Union and the European Member States continue to demonstrate the readiness to support Caribbean efforts to tackle sargassum.

Global Gateway is the European strategy mobilising 300 billion by 2027 to develop smart, clean and secure links in the fields of digital, energy and transport, and to strengthen health, education and research systems in the whole world.

The European Union - Latin America and the Caribbean Global Gateway Investment Agenda has identified more than 130 potential investment opportunities to help address the region's infrastructure needs, while creating local benefit and promoting growth, jobs and social cohesion. The EU-LAC Global Gateway Investment Agenda is a political commitment to work together, identifying fair green and digital investment opportunities in Latin America and the Caribbean, which will benefit from the open environment generated by trade and investment agreements and will help achieve the Sustainable Development Goals.

The Investment Agenda revolves around the following pillars

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COP28: EU joins forces with Latin America and Caribbean to combat sargassum and make it an economic opportunity ... - European Union