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U.S. senator arrives in Taiwan, defying angry Beijing

TAIPEI, Aug 25 (Reuters) – A U.S. lawmaker on the Senate Commerce and Armed Services committees arrived in Taiwan on Thursday on the third visit by a U.S. dignitary this month, defying pressure from Beijing to halt the trips.

Senator Marsha Blackburn arrived in Taiwan’s capital Taipei on board a U.S. military aircraft, live television footage from the downtown Songshan Airport showed. She was welcomed on the airport tarmac by Douglas Hsu, director general of Taiwan’s foreign affairs ministry, Blackburn’s office said.

“Taiwan is our strongest partner in the Indo-Pacific Region. Regular high-level visits to Taipei are long-standing U.S. policy,” Blackburn said in a statement. “I will not be bullied by Communist China into turning my back on the island.”

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China, which claims Taiwan as its own territory against the strong objections of the democratically elected government in Taipei, launched military drills near the island after U.S. House of Representatives Speaker Nancy Pelosi visited in early August.

Taiwan’s Foreign Ministry said Blackburn was due to meet President Tsai Ing-wen during her trip, which ends on Saturday, as well as top security official Wellington Koo and Foreign Minister Joseph Wu.

“The two sides will exchange views extensively on issues such as Taiwan-U.S. security and economic and trade relations,” the ministry added in a brief statement.

Taiwan’s presidential office said Tsai will meet Blackburn on Friday morning.

Spokesman for China’s Embassy in Washington Liu Pengyu vowed that Beijing would take unspecified “resolute countermeasures” in response to what he called the U.S. “provocations.”

“The relevant visit once again proves that the U.S. does not want to see stability across the Taiwan Strait and has spared no effort to stir up confrontation between the two sides and interfere in China’s internal affairs,” Liu said in a statement.

Blackburn, a Republican from Tennessee, earlier voiced support for the trip by Pelosi, a member of U.S. President Joe Biden’s Democratic Party.

Pelosi’s visit infuriated China, which responded with test launches of ballistic missiles over Taipei for the first time, and by cutting some lines of dialogue with Washington.

Pelosi was followed around a week later by a group of five other U.S. lawmakers, with China’s military responding by carrying out more exercises near Taiwan. read more

The Biden administration has sought to keep tensions between Washington and Beijing, inflamed by the visits, from boiling over into a conflict, reiterating that such congressional trips are routine. read more

“Members of Congress and elected officials have gone to Taiwan for decades and will continue to do so, and this is in line with our longstanding One China policy,” a White House National Security Council spokesperson said in response to a question about Blackburn’s visit.

The United States has no formal diplomatic relations with Taiwan but is bound by law to provide the island with the means to defend itself.

China has never ruled out using force to bring Taiwan under its control.

Taiwan’s government says the People’s Republic of China has never ruled the island and so has no right to claim it, and that only its 23 million people can decide their future.

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Reporting by Ben Blanchard in Taipei and Michael Martina and Susan Heavey in Washington; Editing by Howard Goller, Alistair Bell and Sandra Maler

Our Standards: The Thomson Reuters Trust Principles.

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Biden asks Republicans to shun ‘MAGA’ in November, vote Democrat

ROCKVILLE, Md., Aug 25 (Reuters) – U.S. President Joe Biden had harsh words to describe Trump-allied Republicans on Thursday, as he held his first political rally in the run-up to November elections, accusing the group of embracing violence and hatred, and saying they edged toward “semi-fascism” at an earlier fund-raising stop.

Biden, kicking off a coast-to-coast tour, is looking to lend his support to Democratic candidates and prevent those Republicans from taking control of Congress by touting the sharp differences between the two major U.S. parties, and calling on independent and Republican voters for help.

“It’s not hyperbole now you need to vote to literally save democracy again,” Biden told an above-capacity crowd of several thousand at a Democratic National Committee event at Richard Montgomery High School in a Maryland suburb of Washington.

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“America must choose. You must choose. Whether our country will move forward or backward,” he said.

“Trump and the extreme MAGA Republicans have made their choice – to go backwards full of anger, violence, hate and division,” he said, warning they “refuse to accept the will of the people.”

Since the Jan. 6, 2021, attacks on the U.S. Capitol, some Donald Trump supporters have repeated his lie that the 2020 election was stolen and threatened election workers.

In Maryland’s Montgomery County, where more than 78% of voters chose Biden and Vice President Kamala Harris in 2020, Biden the stage to ask “Democrats, independents and mainstream Republicans” to join together to commit to the future.

Before the rally, Biden met Democratic donors for a $1 million party fundraiser in a backyard in a leafy neighborhood north of Washington.

Strolling with a handheld mic, Biden detailed the tumult facing the United States and the world from climate change. He spoke about economic upheaval and the future of China and was strongly critical of the direction of the Republican Party.

“We’re seeing now either the beginning or the death knell of an extreme MAGA agenda,” Biden said, referring to former President Donald Trump’s “Make America Great Again” slogan. “It’s not just Trump. … It’s almost semi-fascism,” he said.

BIDEN AGENDA ON THE LINE

Republicans are hoping to ride voter discontent with inflation, questions about Biden’s policies and cultural resentment from its majority-white base to victory in November, and they have history on their side. The party that controls the White House usually loses seats in Congress in a new president’s first midterm elections, and political analysts predict Republicans have a solid chance of taking control of the House of Representatives and possibly the Senate.

Democrats hold only a thin majority in the House, while the Senate is evenly divided, with the vice president’s tie-breaking power giving Democrats control.

Republican control of one or both chambers could thwart Biden’s legislative agenda for the second half of his four-year term. Heavy losses could also intensify questions about whether Biden should run for re-election in 2024 or hand over to a younger generation.

But Biden and his team are increasingly hopeful that a string of recent legislative successes, and voters’ outrage at the Supreme Court’s overturning of the 1973 ruling that recognized women’s constitutional right to abortion, will generate strong turnout among Democrats.

The announcement this week that Biden would use an executive order to alleviate student loan debt led to GOP legislators and activists to criticize it as a handout. But on Thursday, the White House noted on Twitter that each had benefited from much larger debt cancellations under the coronavirus pandemic “PPP” loan program.

The rally in Maryland was promoted by groups including women’s health provider Planned Parenthood and anti-gun violence activists Moms Demand, as Democrats lean on a new gun safety law and Republican-backed abortion bans to improve their midterm prospects.

Democrats want Biden’s trip to boost the president’s poor poll numbers and draw attention to his achievements. But some candidates for Congress worry that campaigning with Biden will hurt them in the Nov. 8 election. read more

Biden, whose latest approval rating is 41%, is polling lower than most, if not all, Democratic candidates in competitive races, often by double digits, Democratic pollsters said. read more

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Reporting by Steve Holland; Editing by Leslie Adler, Rosalba O’Brien and Gerry Doyle

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UK leadership candidate Sunak attacks COVID lockdown response

  • Former finance minister says downsides of lockdowns suppressed
  • Sunak says scientists were given too much influence
  • PM candidate says government tried to scare the public

LONDON, Aug 25 (Reuters) – Former finance minister Rishi Sunak, one of two candidates vying to be Britain’s next premier, criticised the way outgoing Prime Minister Boris Johnson handled the COVID-19 pandemic, saying it had been a mistake to “empower” scientists and that the downsides of lockdowns were suppressed.

The ruling Conservative Party is choosing a new leader after Johnson was forced to quit when dozens of ministers resigned in protest at a series of scandals and missteps. Party members are voting to select either Sunak or Foreign Secretary Liz Truss, who will take over next month.

Opinion polls show Sunak is behind in race. The handling of the pandemic has become an issue, with Truss saying this month she would never again approve another lockdown and also asserting that as trade minister at the time she was not involved in taking the key decisions about how to respond.

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Sunak said the government had been “wrong to scare people” about coronavirus. He said he was banned by officials in Johnson’s office from discussing the “trade-offs” of imposing coronavirus-related restrictions, such as the impact on missed doctor’s appointments and lengthening waiting lists for health care in the state-run National Health Service.

“The script was not to ever acknowledge them,” he told the Spectator magazine. “The script was: ‘oh there’s no trade-off, because doing this for our health is good for the economy’.”

Sunak said scientists on the Scientific Advisory Group for Emergencies, the group that helped respond to the outbreak, were given too much influence by ministers on decision making such as closing schools and nurseries.

Sunak said that during the start of the pandemic, when presented with scenarios by the scientists about what would happen if lockdowns were not imposed or extended, his requests for the underlying modelling were ignored.

Sunak said it is unfair to blame civil servants because ministers are elected to take decisions.

“If you empower all these independent people, you’re screwed,” he said.

Sunak himself was widely popular at the start of the pandemic because as then finance minister he launched a furlough scheme that kept many people on payrolls even when lockdowns meant they could not work.

‘VERY EMOTIONAL’

Asked why opinion polls showed that the public was eager for the country to be in a lockdown, Sunak said: “We helped shape that: with the fear messaging”.

Sunak said it was wrong for the government to publish posters showing patients on ventilators and claimed that the Cabinet Office was “very upset” when he gave a speech in September 2020 urging people to “live without fear”.

Britain under Johnson was slower than most of its European peers to lock down in early 2020. After suffering some of the highest death rates at the start of the pandemic, it later became one of the first major economies to reopen.

Asked about Sunak’s remarks, a government spokesperson defended its record on COVID, saying the economy and children’s education were central to the difficult decisions made during the pandemic.

Sunak, who resigned from Johnson’s government last month, suggested schools could have stayed open during the pandemic. He said during one meeting he tried to voice his opposition to closing schools, saying he got “very emotional about it”.

“There was a big silence afterwards,” he said. “It was the first time someone had said it. I was so furious.”

Lockdown “could have been shorter” or had a “different” approach, he said.

A public inquiry looking at the government’s preparedness as well as the public health and economic response to the pandemic is expected to begin taking evidence next year.

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Reporting by Andrew MacAskill
Editing by Kate Holton and Frances Kerry

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Tesla shares slip as 3-1 stock split kicks in

Aug 25 (Reuters) – Tesla Inc’s (TSLA.O) shares slipped on Thursday as a three-for-one stock split announced by the world’s most valuable automaker to woo retail investors took effect.

Shares of the electric-car maker, led by Elon Musk, opened at $302 and dipped to $293 in early trading.

Tesla’s second stock split in as many years follows those by other high-growth companies, including Amazon.com (AMZN.O) and Google-parent Alphabet (GOOGL.O), and highlight the increasing need to diversify investor base.

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Stock splits “certainly have a higher appeal to retail investors, and makes their options more affordable as well,” said Art Hogan, chief market strategist at B. Riley.

“Retail investors are a very important cohort for Tesla, and today’s stock split is essentially an acknowledgment of that fact.”

Austin-based Tesla had debuted at $17 in 2010 and shares sky-rocketed to trade at more than $2,000 at their peak, becoming among the highest priced on Wall Street and making it difficult for small investors to bet on the high-growth stock.

In August 2020, the company decided to split its stock on a five-for-one basis, and breached the $1 trillion in market capitalization in 2021.

The stock closed at $891.29 on Wednesday before the three-for-one split took effect.

The EV maker is the sixth company in the S&P 500 index to have split its shares this year, according to Howard Silverblatt, senior index analyst for S&P and Dow Jones indices.

Tesla’s ticker was trending on social media stocktwits.com, indicating increased chatter among individual investors.

The company’s shares have fallen about 11% since the company announced in March plans to increase its number of shares.

“In typical buy-the-rumor, sell-the-news style, investors tend to drastically scale back purchases of splitting stocks in the weeks ensuing the effective split date, causing price momentum to slow,” analysts at Vanda Research said in a note.

Tesla shares have risen to take the company’s market cap to over $1 trillion since its previous split

A stock split does not affect the fundamentals of a company, but makes it easier for individual investors looking to do small trades. However, the benefits of stock splits are becoming less clear as brokerages let customers buy parts of a company’s share.

Tesla’s shares have fallen about 16% this year as worries over aggressive U.S. interest rate increases and geopolitical uncertainty triggered a sell-off in high-growth stocks.

The latest three-for-one split means that stockholders will get two additional shares for each they owned as of Aug. 17.

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Reporting by Akash Sriram and Medha Singh in Bengaluru; Additional reporting by Devik Jain; Editing by Sriraj Kalluvila

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Taiwan aims for big rise in defence spending amid escalating China tension

TAIPEI, Aug 25 (Reuters) – Taiwan proposed on Thursday $19 billion in defence spending for next year, a double-digit increase on 2022 that includes funds for new fighter jets, weeks after China staged large-scale military exercises around the island it views as its territory.

China carried out its largest-ever war games around the democratically governed island after a visit this month by U.S. House Speaker Nancy Pelosi. The trip infuriated Beijing, which saw it as a U.S. attempt to interfere in China’s internal affairs.

The overall defence budget proposed by President Tsai Ing-wen’s Cabinet sets a 13.9% year-on-year increase to a record T$586.3 billion ($19.41 billion).

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That includes an additional T$108.3 billion for fighter jets and other equipment, as well as “special funds” for the defence ministry. The Directorate-General of Budget, Accounting and Statistics did not provide a specific break-down of where money would go.

The planned defence spending, which is a record high and must be approved by parliament, marks the island’s sixth consecutive year of growth in defence spending since 2017.

The double-digit rise on 2022 marks a sharp increase compared with the island’s defence spending growth in recent years; yearly growth has been below 4% since 2017.

Statistics department minister Chu Tzer-ming said the increase would mainly go to operational costs.

“We always give safety and national security the top priority … that’s why (the budget for) operational costs rises greatly,” Chu said, pointing to costs such as fuel and maintenance for aircraft and ships dispatched to counter Chinese military activity near Taiwan.

Taiwan’s defence ministry said in a statement that the budget gave full consideration to the “enemy threat” and was equivalent to 2.4% of Taiwan’s projected GDP for next year.

“In the face of the Chinese communists’ continuous expansion of targeted military activities in recent years and the normalised use of warships and military aircraft to raid and disturb Taiwan’s surrounding seas and airspace, the military adheres to the principle of preparing for war without seeking war and defending national security with strength,” it said.

CHINESE DRILLS

Excluding the extra budget for military equipment and funds, the proposed defence spending represents a 12.9% year-on-year increase, compared with a 20.8% increase in the overall government budget proposed for next year.

The proposed spending accounts for 14.6% of the government’s total spending for next year and is the fourth-largest spending segment, after social welfare and combined spending on education, science and culture, and economic development.

The island last year announced an extra defence budget of $8.69 billion by 2026, which came on top of its yearly military spending, mostly on naval weapons, including missiles and warships.

In March, China said it would spend 7.1% more on defence this year, setting the spending figure at 1.45 trillion yuan ($211.62 billion), though many experts suspect that is not the true figure, an assertion the government disputes. read more

China has been continuing its military activities near Taiwan, though on a reduced scale.

Live-fire drills will take place in a coastal part of China’s Fujian province on Friday and Saturday, just north of the tiny Taiwan-controlled Wuchiu islands in the Taiwan Strait, Fujian authorities said on Wednesday, announcing a no-sail zone.

Tsai has made modernising the armed forces – well-armed but dwarfed by China’s – a priority.

China is spending on advanced equipment, including stealthy fighters and aircraft carriers, which Taiwan is trying to counter by putting more effort into weapons such as missiles that can strike far into its giant neighbour’s territory.

China has not ruled out using force to bring the island under its control. Taiwan rejects Beijing’s sovereignty claims, saying that the People’s Republic of China has never ruled the island and that only Taiwan’s people can decide their future.

Meeting visiting Japanese academics at her office on Thursday, Tsai reiterated that the determination to protect their sovereignty, freedom and democracy would not change “due to pressure or threats”.

“At the same time, as a responsible member of the international community, Taiwan will not provoke incidents nor escalate conflicts,” Tsai said.

($1 = 30.2080 Taiwan dollars)

($1 = 6.8519 Chinese yuan )

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Reporting by Yimou Lee and Ben Blanchard; Editing by Himani Sarkar and Gerry Doyle

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Biden forgives millions of student loans; critics fear inflation

WASHINGTON, Aug 24 (Reuters) – President Joe Biden said on Wednesday the U.S. government will forgive $10,000 in student loans for millions of debt-saddled former college students, keeping a pledge he made in the 2020 campaign for the White House.

The move could boost support for his fellow Democrats in the November congressional elections, but some economists said it may fuel inflation and some Republicans in the U.S. Congress questioned whether the president had the legal authority to cancel the debt.

Debt forgiveness will free up hundreds of billions of dollars for new consumer spending that could be aimed at homebuying and other big-ticket expenses, according to economists who said this would add a new wrinkle to the country’s inflation fight.

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The actions are “for families that need them the most – working and middle class people hit especially hard during the pandemic,” Biden said during remarks at the White House. He pledged no high-income households would benefit, addressing a central criticism of the plan.

“I will never apologize for helping working Americans and middle class, especially not to the same folks who voted for a $2 trillion tax cut that mainly benefited the wealthiest Americans and the biggest corporations,” Biden said, referring to a Republican tax cut passed under former President Donald Trump.

Borrower balances have been frozen since the beginning of the COVID-19 outbreak, with no payments required on most federal student loans since March 2020. Many Democrats had pushed for Biden to forgive as much as $50,000 per borrower.

Republicans mostly opposed student loan forgiveness, calling it unfair because it will disproportionately help people earning higher incomes.

“President Biden’s student loan socialism is a slap in the face to every family who sacrificed to save for college, every graduate who paid their debt, and every American who chose a certain career path or volunteered to serve in our Armed Forces in order to avoid taking on debt,” Senate Minority Leader Mitch McConnell said Wednesday.

The administration has yet to determine the price tag for the package, which will depend on how many people apply for it, White House domestic policy adviser Susan Rice told reporters. Student loans obtained after June 30 this year are not eligible, she said.

White House Press Secretary Karine Jean-Pierre told reporters the administration has legal authority to forgive the debt under a law allowing such action during a national emergency such as a pandemic. Earlier, Republican U.S. Representative Elise Stefanik had called the plan “reckless and illegal.”

American university tuition fees are substantially higher than in most other rich countries, and U.S. consumers carry $1.75 trillion in student loan debt, most of it held by the federal government. Biden said other countries could bypass the United States economically if students are not offered economic relief.

PANDEMIC PAUSE, PELL GRANTS

The administration will extend a COVID-19 pandemic-linked pause on student loan repayment to year end, while forgiving $10,000 in student debt for single borrowers with annual income under $125,000 a year or married couples who earn less than $250,000, the White House said.

Some 8 million borrowers will be affected automatically, the Department of Education said; others need to apply for forgiveness.

The government is also forgiving up to $20,000 in debt for some 6 million students from low-income familieswho received federal Pell Grants, and proposing a new rule that protects some income from repayment plans and forgives some loan balances after 10 years of repayment, the Education Department said.

A New York Federal Reserve study shows that cutting $10,000 in federal debt for every student would amount to $321 billion and eliminate the entire balance for 11.8 million borrowers, or 31% of them.

INFLATION IMPACT

A senior Biden administration official told reporters the plan could benefit up to 43 million student borrowers, completely canceling the debt for some 20 million.

After Dec. 31, the government will resume requiring payment on remaining student loans that were paused during the pandemic. The official said this would offset any inflationary effects of the forgiveness. Payment resumptions could even have a dampening effect on prices, the official said.

Former U.S. Treasury secretary Larry Summers disagreed. He said on Twitter that debt relief “consumes resources that could be better used helping those who did not, for whatever reason, have the chance to attend college. It will also tend to be inflationary by raising tuitions.”

Similarly Jason Furman, a Harvard professor who headed the Council of Economic Advisers during the Obama administration, said debt-cancellation would nullify the deflationary powers of the Inflation Reduction Act. “Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless,” he said.

Moody’s analytics chief economist Mark Zandi sided with the White House, saying the resumption of billions of dollars per month in student loan payments “will restrain growth and is disinflationary.”

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Reporting by Nandita Bose in Rehoboth Beach, Delaware, Alexandra Alper and Dave Lawder in Washington and Moira Warburton in Vancouver; editing by Jonathan Oatis, Heather Timmons and David Gregorio

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U.S. judge blocks Idaho abortion ban in emergencies; Texas restrictions allowed

FILE PHOTO – Abortion rights protesters participate in nationwide demonstrations following the leaked Supreme Court opinion suggesting the possibility of overturning the Roe v. Wade abortion rights decision, in Houston, Texas, U.S., May 14, 2022. REUTERS/Callaghan O’Hare

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Aug 24 (Reuters) – A federal judge on Wednesday blocked Idaho from enforcing a ban on abortions when pregnant women require emergency care, a day after a judge in Texas ruled against President Joe Biden’s administration on the same issue.

The conflicting rulings came in two of the first lawsuits over Biden’s attempts to keep abortion legal after the conservative majority U.S. Supreme Court in June overturned the 1973 Roe v. Wade decision that legalized the procedure nationwide.

Legal experts said the dueling rulings in Idaho and Texas could, if upheld on appeal, force the Supreme Court to wade back into the debate.

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About half of U.S. states have or are expected to seek to ban or curtail abortions following Roe’s reversal. Those states include Idaho and Texas, which like 11 others adopted “trigger” laws banning abortion upon such a decision.

Abortion is already illegal in Texas under a separate, nearly century-old abortion ban that took effect after the U.S. Supreme Court’s decision. Idaho’s trigger ban takes effect on Thursday, the same day as in Texas and Tennessee.

In Idaho, U.S. District Judge B. Lynn Winmill agreed with the U.S. Department of Justice that the abortion ban taking effect Thursday conflicts with a federal law that ensures patients can receive emergency “stabilizing care.”

Winmill, who was appointed to the court by former Democratic President Bill Clinton, issued a preliminary injunction blocking Idaho from enforcing its ban to the extent it conflicts with federal law, citing the threat to patients.

“One cannot imagine the anxiety and fear (a pregnant woman) will experience if her doctors feel hobbled by an Idaho law that does not allow them to provide the medical care necessary to preserve her health and life,” Winmill wrote.

The Justice Department has said the federal Emergency Medical Treatment and Labor Act requires abortion care in emergency situations.

“Today’s decision by the District Court for the District of Idaho ensures that women in the State of Idaho can obtain the emergency medical treatment to which they are entitled under federal law,” U.S. Attorney General Merrick Garland said in a written statement.

“The Department of Justice will continue to use every tool at its disposal to defend the reproductive rights protected by federal law,” Garland said. The DOJ has said that it disagrees with the Texas ruling and is considering next legal steps.

U.S. District Judge James Wesley Hendrix ruled in the Texas case that the U.S. Department of Health and Human Services went too far by issuing guidance that the same federal law guaranteed abortion care.

Hendrix agreed with Texas Attorney General Ken Paxton, a Republican, that the guidance issued in July “discards the requirement to consider the welfare of unborn children when determining how to stabilize a pregnant woman.”

Hendrix, an appointee of former President Donald Trump, said the federal statute was silent as to what a doctor should do when there is a conflict between the health of the mother and the unborn child and that the Texas law “fills that void.”

Hendrix issued an injunction barring enforcement of the HHS guidance in Texas and against two groups of anti-abortion doctors who also challenged it, saying the Idaho case showed a risk the Biden administration might try to enforce it.

Hendrix declined to issue a nationwide injunction as Paxton wanted.

Appeals are expected in both cases and would be heard by separate appeals courts, one based in San Francisco with a reputation for leaning liberal and another in New Orleans known for conservative rulings.

Greer Donley, an assistant professor at the University of Pittsburgh Law School and expert on abortion law, said that if the conflicting rulings were upheld the U.S. Supreme Court may feel pressured to intervene.

“Without a federal right abortion, this is the type of legal chaos that most people were predicting would be happening,” she said.

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Reporting by Nate Raymond in Boston; Additional reporting by Dan Whitcomb in Los Angeles; Editing by Grant McCool and Christopher Cushing

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Nate Raymond

Thomson Reuters

Nate Raymond reports on the federal judiciary and litigation. He can be reached at nate.raymond@thomsonreuters.com.

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Defiant Ukraine marks Independence Day six months after invasion

  • Zelenskiy defiant, warns of ‘brutal strikes’ by Russia
  • Aug. 24 holiday marks six months since invasion
  • U.N. nuclear agency could visit Ukraine plant in days

KYIV, Aug 24 (Reuters) – Ukraine was “reborn” when Russia invaded six months ago, President Volodymyr Zelenskiy said on Wednesday, marking 31 years of his country’s independence from the Moscow-controlled Soviet Union with a vow to drive Russian forces out completely.

After days of warnings that Moscow could use the anniversary of Ukraine’s Independence Day to launch more missile attacks on major cities, Kyiv was unusually quiet and the second biggest city Kharkiv was under curfew after months of bombardment.

The anniversary fell exactly six months after Russia sent tens of thousands of troops into Ukraine.

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In an emotional speech to his compatriots, Zelenskiy said the attack had revived the nation’s spirit.

“A new nation appeared in the world on Feb. 24 at 4 in the morning. It was not born, but reborn. A nation that did not cry, scream or take fright. One that did not flee. Did not give up. And did not forget,” he said.

The 44-year-old leader, speaking in front of Kyiv’s central monument to independence in his trademark combat fatigues, vowed to recapture occupied areas of eastern Ukraine as well as the Crimean peninsula, which was annexed by Russia in 2014.

“What for us is the end of the war? We used to say: peace. Now we say: victory,” he said, days after his government laid out the hulks of burnt-out Russian tanks and armoured vehicles in central Kyiv in a show of defiance.

Russia’s war effort in Ukraine has made little progress in recent months, after its troops were pushed back from Kyiv in the early weeks of the war.

Russian Defence Minister Sergei Shoigu told a meeting of defence ministers in Uzbekistan that Russia had deliberately slowed down what it refers to as its “special military operation” in Ukraine to avoid civilian casualties. read more

WARNINGS

On Tuesday evening, Zelenskiy warned of the possibility of “repugnant Russian provocations”.

“We are fighting against the most terrible threat to our statehood and also at a time when we have achieved the greatest level of national unity,” Zelenskiy said.

Ukraine’s military urged people to take air raid warnings seriously.

“Russian occupiers continue to carry out air and missile attacks on civilian objects on the territory of Ukraine. Do not ignore air raid signals,” the General Staff said in a statement on Wednesday.

Zelenskiy told representatives of about 60 countries and international organisations attending a virtual summit on Crimea on Tuesday that Ukraine would drive Russian forces out of the peninsula by any means necessary, without consulting other countries beforehand. read more

The war has killed thousands of civilians, forced more than a third of Ukraine’s 41 million people from their homes, left cities in ruins, and jolted the global economy and security. It is now largely at a standstill with no immediate prospect of peace talks.

As well as Crimea, Russian forces have seized areas of the south including the Black Sea and Sea of Azov coasts, and chunks of the eastern Donbas region comprising the provinces of Luhansk and Donetsk.

Almost 9,000 Ukrainian military personnel have been killed in the war, its military said this week.

Russia has not publicised its losses but U.S. intelligence estimates 15,000 killed in what Moscow describes as an operation necessitated by threats to its security. Kyiv says the invasion is an unprovoked act of imperial aggression.

Ukraine broke free of the Soviet Union in August 1991 after a failed putsch in Moscow, and an overwhelming majority of Ukrainians voted in a referendum to declare independence.

‘INTENSIVE’ TALKS ON PLANT

International Atomic Energy Agency chief Rafael Grossi said the U.N. nuclear watchdog hoped to gain access to the Russian-occupied Zaporizhzhia nuclear power plant in southern Ukraine within days if negotiations succeed. read more

Both sides have accused the other of firing missiles and artillery dangerously close to the plant, Europe’s biggest, raising fears of a nuclear catastrophe.

Pro-Moscow forces took over the plant soon after the invasion began but Ukrainian technicians are still operating it. The United Nations has called for the area to be demilitarised.

Russia accused Ukraine on Tuesday of attacking the plant with artillery, guided munitions and a drone, drawing a denial from Kyiv’s U.N. ambassador, Sergiy Kyslytsya.

“Nobody who is at least conscious can imagine that Ukraine would target a nuclear power plant at tremendous risk of nuclear catastrophe and on its own territory,” Kyslytsya told an emergency U.N. Security Council meeting in New York called by Russia.

Ukraine’s allies offered more military support on Wednesday.

Norway said it and Britain would jointly supply micro drones to help with reconnaissance and target identification.

The United States, which has sent $10.6 billion in security assistance to Ukraine, will announce a new package of about $3 billion as early as Wednesday, a U.S. official said. read more

Advanced U.S. missile systems appear to have helped Ukraine strike deep behind the front lines in recent months, taking out ammunition dumps and command posts.

In the latest mysterious fire at a Russian military facility, Russian officials said ammunition stored in southern Russia near the border with Ukraine spontaneously combusted on Tuesday.

Vyacheslav Gladkov, the governor of Belgorod region, blamed hot weather for the fire, drawing ridicule from Ukraine.

“In a few months we will find out whether Russian ammunition can explode because of the cold,” Ukraine’s defence ministry said on Twitter.

“The five main causes of sudden explosions in Russia are: winter, spring, summer, autumn and smoking.”

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Reporting by Reuters bureaux; writing by Stephen Coates and Philippa Fletcher; Editing by Robert Birsel and Gareth Jones

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Twitter misled U.S. regulators on hackers, spam, whistleblower says

Aug 23 (Reuters) – Twitter Inc (TWTR.N) misled federal regulators about its defenses against hackers and spam accounts, the social media company’s former security chief Peiter Zatko said in a whistleblower complaint.

In an 84-page complaint, Zatko, a famed hacker widely known as “Mudge,” alleged Twitter falsely claimed it had a solid security plan, according to documents relayed by congressional investigators. Twitter’s shares fell 7.3% to close at $39.86.

The document alleges Twitter prioritized user growth over reducing spam, with executives eligible to win individual bonuses of as much as $10 million tied to increases in daily users, and nothing explicitly for cutting spam.

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Twitter labeled the complaint a “false narrative.” The social media company has been battling Elon Musk in court after the world’s richest person attempted to pull out of a $44-billion deal to buy Twitter. Musk said it failed to provide details about the prevalence of bot and spam accounts.

Tesla Inc (TSLA.O) Chief Executive Musk had offered to buy Twitter for $54.20 per share, saying he believed it could be a global platform for free speech.

Twitter and Musk have sued each other, with Twitter asking a judge on the Delaware Court of Chancery to order Musk to close the deal. A trial is scheduled for Oct. 17.

Zatko filed the complaint last month with the U.S. Securities and Exchange Commission and the Department of Justice, as well as the Federal Trade Commission (FTC). The complaint was also sent to congressional committees.

“We are reviewing the redacted claims that have been published but what we have seen so far is a false narrative that is riddled with inconsistencies and inaccuracies,” Twitter Chief Executive Parag Agrawal told employees in a memo.

The Senate Judiciary Committee’s top Republican, Chuck Grassley, said the complaint raised serious national security concerns and privacy issues and needed to be investigated.

“Take a tech platform that collects massive amounts of user data, combine it with what appears to be an incredibly weak security infrastructure, and infuse it with foreign state actors with an agenda, and you’ve got a recipe for disaster,” he said.

The FTC declined to comment. A spokesperson for the Senate Intelligence Committee said it had received the complaint and was setting up a meeting to discuss the allegation.

Twitter’s real regulatory risk lies in whether the documentary evidence shows “knowing or reckless misleading” of investors or regulators, said Howard Fischer, a partner at Moses & Singer and a former SEC attorney.

‘GIVE A LITTLE WHISTLE’

Musk could not be reached for comment but reacted on Twitter with memes and emoji of a robot. Musk’s legal team has subpoenaed Zatko, CNN reported after the whistleblower disclosure was made public.

American hackers have admired Zatko since the 1990s, when he was credited with inventing a tool to crack passwords. He later used his hacking chops to become a sought-after security consultant and with other rebellious techies of the era, transitioned to top government and boardroom positions.

The whistleblower document says that after the Jan. 6 riots, the incoming Biden administration offered him “a day-one appointed position as Chief Information Security Officer for the United States,” which he turned down.

Cybersecurity leaders expressed widespread support for Zatko, and many deplored Twitter’s reaction to his revelations.

Robert Lee, founder of industrial cybersecurity company Dragos, said it was “one of the very rare times based on who it is I don’t even need to know a detail to form an opinion,” he said on Twitter. “If Mudge is making this type of claim, it deserves the investigation.”

In January, Twitter said Zatko was no longer its head of security, two years after his appointment to the role.

On Tuesday, a Twitter spokesperson said Zatko was fired for “ineffective leadership and poor performance,” adding his allegations appeared designed to capture attention and inflict harm on Twitter, its customers and its shareholders.

Debra Katz and Alexis Ronickher, attorneys for Zatko, said in a statement that throughout his tenure at Twitter, he repeatedly raised concerns about inadequate information security systems to the company’s executive committee, CEO and board. Twitter did not respond to a request for comment on that statement.

(This story corrects closing price and removes extraneous percentage symbol in paragraph two)

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Reporting by Chavi Mehta, Ankur Banerjee and Tiyashi Datta in Bengaluru, Peter Henderson in Oakland and Raphael Satter in Washington; Additional reporting by Rick Cowan in Washington; Writing by Ankur Banerjee; Editing by Kenneth Li, Saumyadeb Chakrabarty, Sriraj Kalluvila and David Gregorio

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Indian billionaire Adani seeks to control NDTV; media group says move without consent

  • India’s richest man, Adani, seeks to expand media business
  • NDTV says Adani unit moved without its consent
  • Adani takeover may not be friendly -legal expert
  • Deal to buy NDTV could heat up competition among billionaires

BENGALURU, Aug 23 (Reuters) – Indian billionaire Gautam Adani’s conglomerate on Tuesday said it seeks to control a majority stake in the popular New Delhi Television (NDTV.NS) (NDTV), a move the TV news group said was executed without its consent.

A unit of the Adani Group said it had used financial rights in a bid to purchase a 29.18% stake in NDTV, laying out plans for a subsequent open offer for a stake of another 26% in line with Indian regulations.

Hours after the announcement, NDTV issued a statement saying the move by the Adani Group “was executed without any input from, conversation with, or consent of the NDTV founders.”

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One of the nation’s most popular news organisations, NDTV is regarded as one of the few media groups that often takes a critical view of the ruling administration’s policies. It operates three national channels: NDTV 24×7 in English, NDTV India in Hindi and a business news channel. read more

“From NDTV’s statements, it seems this may not be a friendly takeover which generally is as per agreed terms and mechanism, and in fact, may end up being a hostile takeover,” said Dipti Lavya Swain, founder and managing partner, DLS Law Offices. He is not connected to the situation.

Adani Group did not immediately respond to a request for comment on NDTV’s statement.

While Adani did not disclose financial details of the group’s planned 29.18% stake purchase, it said its subsequent open offer would be for 294 Indian rupees ($3.68) per NDTV share, which would be worth 4.93 billion rupees.

That open offer price is at a 20.5% discount to NDTV’s Tuesday’s close of 369.75 rupees.

NDTV was founded by one of India’s most famous TV news personalities, Prannoy Roy, and his wife in 1988. Other than TV news channels, the group also runs online news websites.

On Monday, NDTV said in a stock exchange disclosure that Radhika and Prannoy Roy were not in discussions with any entity for a change in ownership or a divestment of their stake in NDTV.

They individually and through their company continue to hold 61.45% of NDTV, the statement said.

BATTLE OF BILLIONAIRES

In March, Adani, who is Asia’s richest man, made his first bet in the media sector by taking a minority stake in local digital business news platform Quintillion. But the proposed NDTV transaction marks Adani’s highest-profile media bet to date.

“NDTV is the most suitable broadcast and digital platform to deliver on our vision,” Adani Group executive Sanjay Pugalia said in the statement.

The move could set the stage for Adani to face off in the sector with fellow tycoon Mukesh Ambani.

Ambani, chairman of oil-to-telecom conglomerate Reliance Industries (RELI.NS), controls Network18 (NEFI.NS) which runs business channels including CNBC TV18.

Adani Group has several publicly listed companies in sectors including airports and ports, power generation and transmission, coal and gas trading.

India’s TV news industry is worth $351 million, Elara Capital said in a note, adding that 70% of this market was dominated by Hindi news. Other than Ambani, the other big player is Times Group which runs many news channels and newspapers.

Elara Capital said Adani’s planned bid to control NDTV was at “very premium valuations” but added “this move will enable a large corporate house backing for a news channel.”

Adani Group said NDTV had recorded a revenue of 4.21 billion rupees and a net profit of 850 million rupees in the fiscal year that ended in March 2022, with negligible debt.

Fitch Group’s debt research unit CreditSights on Tuesday published a report that said Adani Group is “deeply overleveraged” and that its many investments in capital-intensive businesses could pose long-term risks to investors. read more

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Reporting by Nallur Sethuraman, Chris Thomas in Bengaluru and M. Sriram and Shilpa Jamkhandikar in Mumbai
Writing by Sudarshan Varadhan and Aditya Kalra
Editing by Krishna Chandra Eluri, Mike Harrison and Matthew Lewis

Our Standards: The Thomson Reuters Trust Principles.

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