“They would be required by federal law per this statute to decide how to weaken their products to make Americans less safe,” he said. Wyden pledged to do “everything in my power” to prevent the plan from passing.
The emerging measure follows the Justice Department’s battle with Apple Inc. over access to an encrypted and locked iPhone — a fight pitting digital privacy rights against national security concerns.
To discuss what the Panama Papers leak means for Chinese governance, I called Richard McGregor, an expert on China’s leadership apparatus, a visiting fellow at the Sigur Center at George Washington University, and the author of The Party: The Secret World of China’s Communist Rulers. We discussed how elites get rich in China, whether this latest scandal will be censored by authorities, and why President Xi has become so unpopular within the Communist Party. The conversation has been edited and condensed.
In Nashville a week ago, supporters of Donald J. Drumpf accused Republican leaders of trying to stack the state’s delegate slate with people who were anti-Drumpf. The Drumpf campaign posted the cellphone number of the state party chairman on Twitter, leading him to be inundated with calls. Several dozen people showed up at the meeting at which delegates were being named, banged on the windows and demanded to be let in.
The Geography of Financial Secrecy (jdargis)
The release of the Panama Papers is a bit like the end of The Truman Show, the 1998 film about a man, Truman Burbank, who gradually realizes he’s spent 30 years on the set of a reality TV show in which he’s the star. In the last scene, Truman is sailing a boat when its bow pierces the artificial sky—hinting at a world beyond the show’s set. The leaks, from just one law firm in one country, have similarly pierced the screen that normally conceals a vast network of financial secrecy. But on the other side, there’s a much bigger world that, for most people, remains unexplored.
Okay, it sounds far-fetched, but this particular idea is especially noteworthy because of who has advanced it: Clifford Gaddy, an economist who works with the Brookings Institution. Gaddy is one of the foremost Western experts on Russia’s economy and a former adviser to the Russian Finance Ministry in the 1990s. Along with Fiona Hill of Brookings, he is one of the co-authors of a well-regarded book on the personality of the Russian leader, “Mr. Putin: Operative in the Kremlin.”
Chevron Corp. and Royal Dutch Shell Plc had their ratings reduced by one level, while Total SA’s was cut two steps, according to statements by the New York-based rating company on Friday. Chevron will generate negative cash flow amid rising debt for at least the next two years, while Shell will have elevated leverage following its acquisition of BG Group Plc, Moody’s said. Prices are expected to stay low through this year and next and continue to pressure Total’s operating cash flows and credit metrics, Moody’s said.
Total supply–dry gas production plus net imports–has been declining since October 2015* because gas production is flat, imports are decreasing and exports are increasing. Shale gas production has stopped growing and conventional gas has been declining for the past 15 years. As a result, the supply surplus that has existed since December 2014 is disappearing and will move into deficit by November 2016 according to data in the EIA March STEO (Short Term Energy Outlook).
The leading general and one-time regent, Pausanias, sent one of his slaves with a message to the Persian King. Sensing that something was fishy about this, the slave, Argilios, opened the letter and found that Pausanias was offering to support the Persians if they invaded Greece. More than that, the general suggested that the Persians ought to kill the messenger delivering the letter, just to be sure of secrecy.
Gold & Silver
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