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According to Reuters data, the discount of Dubai spot crude oil to swap prices has widened to more than $4 per barrel, the largest discount since May 2020.On July 2, the Ministry of Natural Resources issued a legal commentary on the announcement by Japan and the Philippines to initiate bilateral maritime boundary delimitation negotiations. The document states that Japan and the Philippines recently announced the commencement of negotiations on the delimitation of their exclusive economic zones and continental shelves in the waters east of Taiwan. China, Japan, and the Philippines are maritime neighbors in this region, and the proposed delimitation area largely overlaps with Chinas exclusive economic zone and continental shelf under international law. This move, without consultation with China, disregards the specific geographical conditions of the region, violates the principles of sovereign equality and good faith under international law, as well as the obligations of cooperation and restraint, constituting an internationally wrongful act. To fulfill their international obligations and assume their national responsibilities, Japan and the Philippines should immediately cease their bilateral maritime boundary delimitation negotiations and actively engage in consultations with China.July 2nd, Futures News: The market is closely monitoring the navigation status and shipping recovery progress of the Strait of Hormuz. Several cargo ships have already transited the strait, but their final unloading destinations are yet to be determined. In the short term, sulfur prices are highly susceptible to various geopolitical developments and information regarding the straits navigability, leading to a cautious trading atmosphere. Once the sulfur successfully exits the strait, it will be redistributed among various consuming countries globally, leaving uncertainties regarding my countrys import sources. The current tight supply in the spot market has not been substantially alleviated, and most industry players and traders are maintaining a cautious approach.Jun Mimura, Japans top foreign exchange official: No comment on exchange rate levels.Harvest Gold LOF: Subscription (including regular fixed-amount investment) business remains suspended.

If Congress Passes A Media Bill, Meta May Remove News on Facebook

Skylar Williams

Dec 06, 2022 11:41

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Facebook's parent firm, Meta Platforms Inc (NASDAQ:META), has threatened to delete content from its platform if the U.S. Congress approves a plan that would make it easier for news organizations to negotiate collectively with corporations like Alphabet Inc's Google and Facebook.


Legislators are allegedly considering attaching the Journalism Competition and Preservation Act to a must-pass annual military measure in an effort to save the struggling local journalism industry. In a tweet, Andy Stone, a representative for Meta, stated that if the bill was passed, the company would be forced to consider eliminating news "rather than submit to government-mandated discussions that negate any value we bring to news sites through increased traffic and subscriptions."


The idea fails to recognize that publishers and broadcasters place content on the platform because "it improves their bottom line - not the other way around."


The News Media Alliance, an association of newspaper publishers, says that the bill should be included in the defense bill "Local newspapers cannot afford to endure Big Tech's exploitation and abuse for several more years, and the time to take action is quickly running out. We run the possibility of social media becoming the de facto local newspaper in America if Congress does not act immediately."


More than two dozen organizations, including the American Civil Liberties Union, Public Knowledge, and the Computer & Communications Industry Association, urged Congress on Monday not to approve the local news bill, arguing that it would "create an ill-advised antitrust exemption for publishers and broadcasters" and that it does not mandate that "funds gained through negotiation or arbitration will even be paid to journalists."


According to a government study, a similar Australian regulation that went into effect in March 2021 following discussions with major digital companies that resulted in a brief shutdown of Facebook news feeds in the country has been generally effective.


According to the article, since the News Media Bargaining Code went into effect, several technological giants, including Meta and Alphabet, have reached more than 30 agreements with media sites, compensating them for content that generated clicks and advertising revenue.

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