2018年5月31日 星期四

Hillicon Valley: Deadly attacks feared as hackers target industrial sites | McCarthy lashes out at Google | Summit talks haven't stopped North Korean hacks | AT&T drops court fight over FTC authority

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The Cyber and Tech Overnights are joining forces to give you Hillicon Valley, The Hill's new comprehensive newsletter detailing all you need to know about the tech and cyber news from Capitol Hill to Silicon Valley.

Welcome! Follow the cyber team, Morgan Chalfant (@mchalfant16) and Olivia Beavers (@olivia_beavers), and the tech team, Ali Breland (@alibreland) and Harper Neidig (@hneidig), on Twitter. Send us your scoops, tips and compliments.


DEADLY ATTACKS FEARED AS HACKERS TARGET INDUSTRIAL SITES: The hacking threat to critical infrastructure in the United States and beyond is growing larger, with nation states and other malicious actors looking to gain a foothold in sensitive technologies to conduct espionage and potentially stage disruptive or destructive attacks.

Dragos, a firm that specializes in industrial cybersecurity, has released new research asserting that a hacker group responsible for deploying highly sophisticated, destructive malware to an industrial plant in the Middle East last year has begun to expand its operations beyond its initial targets.  

"This is no longer about data theft or business disruption. Someone can get hurt. It's about physical consequences," said Dan Scali, senior manager for FireEye's industrial control system security consulting practice.

Background: Last week, researchers at Dragos released new details about a threat group they call Xenotime. They said the group has developed hacking tools to compromise and disrupt industrial safety instrumented systems -- hardware and software controls that are used to ensure the safe operations of large-scale nuclear, chemical and other industrial plants and allow for emergency stops to take place.

The group, whose origins are not publicly known, deployed malware to an industrial plant in the Middle East last year that specifically targeted Triconex safety systems manufactured by Schneider Electric. The attack caused the plant to shut down.

The new worry: Dragos says that the actors have expanded their operations, making their way into networks of industrial organizations beyond the Middle East. The group has also demonstrated capabilities to potentially disrupt safety systems other than Triconex. The developments have raised concerns that Xenotime could be moving to carry out destructive attacks, such as triggering chemical explosions.

Key quote: "It is the most dangerous cyber threat in the world, period," said Sergio Caltagirone, director of threat intelligence at Dragos. "Really, there has been no malware in the world so far that has actually put lives at risk, demonstrably. This adversary is."

Dragos said it has alerted U.S. officials and other foreign governments to the threat.

To read more of our coverage, click here.


MCCARTHY LASHES OUT AT GOOGLE: House Majority Leader Kevin McCarthy (R-Calif.) is calling out Silicon Valley for the second day in a row, this time Google for associating the California GOP with "Nazism."

A Google search for "California Republican Party" apparently returned a sidebar result listing Nazism as one of the party's ideologies alongside "conservatism" and "market liberalism."

"Dear @Google, This is a disgrace #StopTheBias," McCarthy tweeted Thursday.

--On Wednesday, McCarthy tweeted out a video of himself giving a speech in which he blasted tech companies over anti-conservative bias.


Google responds: "This was not the result of any manual change by anyone at Google. We don't bias our search results toward any political party. Sometimes people vandalize public information sources, like Wikipedia, which can impact the information that appears in search," a Google spokesperson said in a statement. "We have systems in place that catch vandalism before it impacts search results, but occasionally errors get through, and that's what happened here. This would have been fixed systematically once we processed the removal from Wikipedia, but when we noticed the vandalism we worked quickly to accelerate this process to remove the erroneous information."

To read more, click here.


NO LET UP IN NORTH KOREAN BANK ATTACKS: Suspected North Korean hackers have been conducting offensive cyber operations on financial institutions amid discussions between Washington and Pyongyang on a possible nuclear summit between President Trump and Kim Jong Un, a cybersecurity firm says.

An executive with FireEye said Thursday that the firm has continued to observe North Korean-linked hackers targeting financial institutions in order to siphon off money for the regime, which has been increasingly strapped for cash as a result of international sanctions.

"We've seen a suspected North Korean threat actor continue offensive operations against financial institutions," said Charles Carmakal, vice president for Mandiant Consulting, a subsidiary of FireEye that provides cyber incident response to organizations across the globe. He indicated hackers are primarily targeting banking institutions in Latin America and Asia.

"What we're observing right now, which we've observed for the past year in both Latin America and Asia is essentially they are breaking into banking and financial institutions and stealing money leveraging banking systems, moving money and essentially burning the house down afterwards" likely to cover their tracks, Carmakal continued.

In recent years, cybersecurity experts have observed a pattern of North Korea-linked hackers targeting banking technology in an effort to move large sums out of foreign financial institutions to the regime.

To read more of our coverage, click here.


RUBIO PRESSES ELECTION COMMISSION FOR CYBERSECURITY FUNDING: Sen. Marco Rubio (R-Fla.) on Thursday issued a request for cybersecurity funding to ensure the state's voting systems are properly secured against hacking ahead of the 2018 midterm elections.

Rubio, a member of the Senate Intelligence and Appropriations committees, urged the U.S. Election Assistance Commission (EAC) to grant the state funding, noting that foreign actors targeted Florida in the 2016 presidential election and could seek to target the state again in the upcoming midterms.

"With less than six months until Election Day, I urge you to promptly approve the State of Florida's request so that the state may expedite their plans to strengthen our election systems," Rubio wrote in a letter to Brian Newby, executive director of the EAC.

Rubio wrote that Florida needs approximately $19.2 million in funding from the EAC.

"Florida is the third most populous state in the union, and based on reviews of foreign interference in the 2016 election, we know Florida is a target," he said.

To read more of our piece, click here.


ONE OF MANY: We're pretty much finished digesting the slew of cybersecurity-related reports released by the Trump administration on Wednesday, in accordance with last year's cyber executive order. Among the more interesting of the documents … An assessment released by the departments of Energy and Homeland Security this week finds that there are shortfalls preventing the energy sector from improving its ability to respond rapidly in the event of a major cyberattack that disrupts the electric grid.

The report, which was mandated by President Trump's 2017 cybersecurity executive order, states that the U.S. is generally "well prepared" to manage major disruptions to the electric grid, such as cyberattacks that knock out power.

It emphasizes the action the federal government has taken over the last two years to prepare for a significant cyber incident. However, the report details a number of "gaps" preventing private electric utilities, government entities and other stakeholders from bolstering their ability to provide effective incident response in the event of a major cyber assault on the grid.

These include a lack of clarity around the roles of specific organizations in responding to prospective cyber incidents; shortfalls in the electric sector's cyber workforce; a lack of effort to address supply chain vulnerabilities specific to the electric sector; and lackluster information sharing between private industry and the federal government.

Why this is so important: The threat posed by hackers to the electric grid has attracted attention in the wake of cyberattacks that took out portions of Ukraine's power grid in 2015 and 2016. Russia is suspected of carrying out both attacks.

To read more, click here.


There are also some interesting tidbits from the joint Department of Homeland Security and National Institute of Standards and Technology report on bolstering the federal government's cybersecurity workforce.


ALSO: The State Department on Thursday published two unclassified cyber reports that give President Trump recommendations on how the administration could improve its international engagement strategy as well as how to better deter cyber threats.

The unclassified versions of the two reports were mandated under President Trump's cybersecurity executive order issued last May, which directed key departments and agencies to provide reports detailing how to improve cybersecurity throughout the federal government.

"These documents and their recommendations emphasize the importance of the Department's and the U.S. government's ongoing work to engage foreign partners to address a range of threats in cyberspace, thereby improving the cybersecurity of the nation," Secretary of State Mike Pompeo said in a statement.

"They further acknowledge the necessity of enhancing U.S. government coordination on all fronts to maximize the effectiveness of international outreach on cyber policy. The Department of State is committed to fulfilling its leadership role in this process."

The State Department's engagement strategy lays out five international cyber objectives and corresponding actions for the administration to take to "achieve its vision" of a stable digital world. Many of the priorities hinged on the fact that there is no global agreement or framework laying out the rules of cyberspace. To read more, click here.


AT&T DROPPING FTC FIGHT: AT&T is dropping a court challenge to the Federal Trade Commission's (FTC) authority over telecommunications providers, ending a legal battle that critics said could have left the post-net neutrality internet with little oversight.

In a court filing on Wednesday, AT&T's lawyers said that the telecommunications giant would not be petitioning the Supreme Court for a review of a federal appeals court decision that said the FTC had jurisdiction over them.

"We have decided not to seek review by the Supreme Court, to focus instead on negotiating a fair resolution of the case with the Federal Trade Commission," AT&T spokesman Michael Balmoris said in a statement to The Hill.

In February, the full 9th Circuit Court of Appeals had overturned an earlier ruling that said the FTC couldn't take action against companies that engage in the telecommunications business because telecom companies are common carriers with less legal liability.

To read more, click here.


GOOGLE WARNED ABOUT TERROR CONTENT: Google has ignored warnings about pro-ISIS content on its social media platform, Google Plus, according to users who flagged posts to the company and an expert who said he flagged the content directly to Google.

Despite those actions, a trio of pro-ISIS communities were active on Google Plus on Wednesday after users mass reported to them to the company more than nine months ago.

The company removed the groups from Google Plus between Wednesday and Thursday after The Hill asked about them.

A researcher also said that he and his staff had a conference call with a Google representative in March in which links to extremist content on Google Plus were provided to the company.

Background: Google Plus for months, and possibly years, has been rife with pro-terror content. In many cases it was easy as searching phrases like "caliphate" in Arabic or even hashtags like #just_terror and #Islamic_State, in English, as we reported last week.


What Google says about all of this: The company said that "we recognize we have more to do, we're committed to getting this right," but said it has teams in place and is working on the issue.  


POLL FINDS TEENS FAVOR YOUTUBE, INSTAGRAM, SNAPCHAT: A new poll from the Pew Research Center shows some remarkable trends about teenagers' social media use. Here are some of the highlights.

-The survey found that 85 percent of teens use YouTube, 72 percent use Instagram and 69 percent use Snapchat. Facebook and Twitter register 51 percent and 32 percent, respectively.

-The survey also found that 95 percent of teens have access to a smartphone and 45 percent report using the internet "almost constantly."

-And the respondents, all of whom are between 13 and 17 years old, report mixed feelings about social media's effect on their generation. Thirty-one percent say it has a mostly positive effect, 24 percent say it's mostly negative and 45 percent say it's neither.


CALIFORNIA NET NEUTRALITY BILL CLEARS SENATE: The California Senate passed a bill Wednesday that would reinstate the net neutrality rules the Federal Communications Commission (FCC) voted to repeal last year.

"Under President Obama, our country was moving in the right direction on guaranteeing an open internet, but the Trump-led FCC pulled the rug out from under the American people by repealing net neutrality protections," Democratic state Sen. Scott Wiener said in a statement last month. Wiener wrote the net neutrality bill.


ATTENTION, DAN COATS: Two-dozen civil liberties organizations are urging U.S. officials to disclose more details on the more than 500 million call records on Americans collected by the National Security Agency (NSA) last year. More here.


A LIGHTER TWITTER CLICK: Lil B blesses Twitter.


AN OP-ED TO CHEW ON: To win the new space race, the U.S. must abandon clunky, outdated systems.



Activists went after major technology companies in San Francisco. (Motherboard)

The Madness of King Musk. (The Baffler)

Tech's Titans Tiptoe Toward Monopoly. (WSJ)

Twitter blocking users who were underage when they signed up in accordance with GDPR. (The Guardian)

ZTE to replace top exec as China seeks to lift US ban. (Bloomberg)

Meet the lawyer using GDPR to go after tech giants. (The New York Times)

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Overnight Energy: Oil industry fears fallout from Trump steel tariffs | Dems want probe into Pruitt's apartment hunt | EPA board to review science 'transparency' rule

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BIG OIL FEARS TOLL OF TRUMP TARIFFS: Oil and gas industry representatives are expressing worries about new tariffs the Trump administration is imposing on steel and aluminum imports from three key U.S. allies.

The American Petroleum Institute (API) said it was "deeply discouraged" by the new tariffs on Mexico, Canada and the European Union that were announced Thursday, saying that the U.S. is moving in "the wrong direction."

"The implementation of new tariffs will disrupt the U.S. oil and natural gas industry's complex supply chain, compromising ongoing and future U.S. energy projects, which could weaken our national security," said API President and CEO Jack Gerard in a statement.

Gerard added that the tariffs could lead to increased prices in specialty steel and raise costs for domestic production of oil, natural gas and natural gas liquids. That would also come as the price of foreign oil imports are at a major high.

As a result the company said it will be asking for an exemption from the tariffs.

"We hope and expect that the administration will recognize the national security benefits of the U.S. oil and natural gas industry and grant API's member companies product exclusions from steel tariffs and quotas in the ongoing Department of Commerce process, as well as provide transparency and flexibility in the process to lessen the impact on U.S. oil and natural gas production, transportation and refining," Gerard said.

The Administration announced Thursday that the trade penalties of 25 percent on imported steel and 10 percent on imported aluminum will take effect at midnight.

Read more about the oil industry's response here.

Click here for more on Trump's decision.


More on the tariffs.

Mexico quickly answered the tariffs with duties of its own on U.S. goods.

The European Union is also vowing to retaliate.

The move also split Republicans. Speaker Paul Ryan said he disagrees with the president. Senate Finance Committee Chairman Orrin Hatch (R-Utah) blasted the decision Thursday, calling the tariffs a "tax hike on Americans."

A Koch brothers group joined in the criticism.

Markets dropped on the tariff news.


Happy Thursday! Welcome to Overnight Energy, The Hill's roundup of the latest energy and environment news. Does it feel like your shortened workweek is still dragging? Next time you may want to take a cue from Congress, which took off until Monday.

Please send tips and comments to Timothy Cama, tcama@thehill.com, and Miranda Green, mgreen@thehill.com. Follow us on Twitter: @Timothy_Cama, @mirandacgreen, @thehill


DEMS WANT PROBE ON PRUITT'S APARTMENT-HUNTING AIDE: Sens. Tom Udall (D-N.M.), Sheldon Whitehouse (D-R.I.) and Tom Carper (D-Del.) want an investigation into whether Environmental Protection Agency (EPA) Administrator Scott Pruitt broke the law when he had a close aide shop for apartments for him.

The demand for a probe comes after Pruitt told a Senate hearing this month that Millan Hupp, his scheduler, conducted the apartment hunt during non-work hours, but Pruitt did not pay her.

"There are several regulations designed to prevent the misuse of taxpayer funds and to prevent a supervisor from misusing the time of or accepting an improper gift from a subordinate employee, whose salary is paid by American taxpayers," the senators wrote Thursday to EPA Inspector General Arthur Elkins.

They also suspected that Hupp used some work hours for the apartment search, which would also violate regulations.

Tia Elbaum, a spokeswoman for the Office of the Inspector General, said the office had received the letter and would review it.

The Washington Post reported last month that Hupp contacted a real estate firm and a landlord last year to arrange visits to properties for rent in Washington, D.C.'s Capitol Hill neighborhood.

Read more.


EPA BOARD TO SCRUTINIZE SCIENCE RULE: The Environmental Protection Agency's (EPA) external scientific advisers have decided to formally scrutinize Administrator Scott Pruitt's proposal to require new transparency measures for science the agency uses.

The EPA's Science Advisory Board voted unanimously to take on the regulation at a Thursday meeting. It also decided to examine five other controversial regulatory rollbacks Pruitt is working on.

Key quote: "There is a real lack of clarity in how you would unroll this and actually apply it," Allison Cullen, a public policy professor at the University of Washington and a member of the board, said at the meeting.

The backstory: Under the new rule, any scientific data or findings the EPA uses for regulation, enforcement or other decisions would be subject to strict new standards. It would have to have all data publicly available, and it would have to be reproducible.

Two sides: Supporters say it would subject science to more scrutiny and let outsiders challenge the EPA's findings. Opponents say it would severely restrict the science EPA uses, particularly epidemiological studies, which rely on personal health data that is usually confidential.

We break it down here.


FLORIDA SENATOR WANTS ANSWERS ON OFFSHORE DRILLING PLAN: Florida Sen. Bill Nelson (D) is pushing the Interior Department to answer questions about the future of offshore drilling in his state.

In a letter sent to Interior Secretary Ryan Zinke on Thursday, Nelson urged Zinke to clarify previous statements he and Florida Gov. Rick Scott (R) made that Florida is "off the table" for potential future offshore drilling plans -- a statement Zinke made via Twitter in January but has since walked back.

Nelson, who is firmly opposed to opening Florida's offshore waters to oil and gas drilling, asked Zinke to clarify what the state's future for expanded drilling is and to provide details as to how Interior plans to protect Florida's coast.

"Despite your initial announcement in January that Floridians should not worry about your new plan, you later told Congressional committees that 'Florida did not get an exemption' and is 'still under consideration,'" Nelson wrote.

The congressman pressed Zinke for failing to provide any details about the pact he made with Scott earlier in the year that led to his first announcement that Florida would be exempted from the new Interior policy to open up offshore drilling in the U.S.

"Any plan that allows oil drilling one inch closer to Florida's shores is unacceptable," Nelson wrote.

We've got more on Nelson's letter here.



California regulators have approved $768 million worth of utility programs to provide electric vehicle charging infrastructure, the San Francisco Chronicle reports.

Australia's government is citing a rarely used environmental law to block a proposal to expand phosphate mining on Christmas Island, the Sydney Morning Herald reports.

The domestic benchmark for oil prices has posted its first monthly loss since February, MarketWatch reports.



William Murray, a federal energy policy manager at the R Street Institute, says there are promising signs for the country's nuclear energy policy after a long winter.



Check out Thursday's stories ...

- EPA board to scrutinize Pruitt's science 'transparency' rule

-Oil industry fears toll of Trump steel, aluminum tariffs

-Dems want probe into aide who shopped for Pruitt's apartment

-Florida senator demands answers on Interior's offshore drilling plan

-Federal assessment finds 'gaps' in preparation for electric grid attacks

-Group files ethics complaint over Pruitt's legal defense fund

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Overnight Finance: Fallout from Trump tariffs | EU, Canada, Mexico vow to retaliate | Markets swoon | Setback for NAFTA talks | Oil industry fears impact | Koch brothers group blasts move

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Happy Thursday and welcome back to Overnight Finance, where we're tempted to start tomorrow morning the way John Boehner began today. I'm Sylvan Lane, and here's your nightly guide to everything affecting your bills, bank account and bottom line.

See something I missed? Let me know at slane@thehill.com or tweet me @SylvanLane. And if you like your newsletter, you can subscribe to it here: http://bit.ly/1NxxW2N.

Write us with tips, suggestions and news: slane@thehill.com, vneedham@thehill.com, njagoda@thehill.com and nelis@thehill.com. Follow us on Twitter: @SylvanLane, @VickofTheHill, @NJagoda and @NivElis.


THE BIG DEAL: The Trump administration will levy hefty steel and aluminum tariffs on the European Union, Canada and Mexico starting on Friday, a move that brought threats of retaliation from the major trading partners.

Commerce Secretary Wilbur Ross said that President Trump had decided on Thursday morning to end the temporary exemptions for the three key trading allies despite their two months of lobbying to avoid the tariffs, raising tensions among the economic partners.

Mexico and the EU were swift in saying they would follow through on their promises to impose retaliatory tariffs on U.S. exports.

In a statement, the EU referred to a 10-page list of possible targets they produced in March after Trump first announced the potential tariffs. The EU had vowed to levy tariffs of $3.3 billion on iconic American products such as Kentucky bourbon, jeans and Harley-Davidson motorcycles. 

European leaders also said they would proceed with a complaint at the World Trade Organization (WTO).

The Hill's Vicki Needham breaks down the wild day in trade policy right here.



  • "Today's action targets America's allies when we should be working with them to address the unfair trading practices of countries like China." -- House Speaker Paul Ryan (R-Wis.)
  • "We did everything to avoid this outcome." -- EU Commissioner for Trade Cecilia Malmström.
  • "This is protectionism, pure and simple." -- Jean-Claude Juncker, president of the European Commission.
  • "Europe, Canada, and Mexico are not China, and you don't treat allies the same way you treat opponents." -- Sen. Ben Sasse (R-Neb.).
  • "It's hard for Japan to understand and we cannot accept it." -- Japanese Prime Minister Shinzo Abe, about potential auto tariffs that could be next.
  • "These tariffs are an affront to the long-standing security partnership between Canada and the United States." -- Canadian Prime Minister Justin Trudeau.

The backlash--Allies vow retaliation:

  • The European Union on Thursday said they will take retaliatory action against the United States in response to the Trump administration's decision to issue hefty steel and aluminum tariffs. The EU said it will file a case against the United States at the World Trade Organization (WTO) and take retaliatory action, most likely in the form of reciprocal tariffs. More on that here.
  • The government of Mexico announced on Thursday it would implement new duties on various U.S. products, including steels such as hot and cold foil, lamps, legs and shoulders of pork, sausages, apples, grapes, blueberries and various cheeses in response to the tariffs.
    The Canadian government announced tariffs on dozens of US imports including food products, crops, consumer goods, industrial supplies and boats.

What comes next: Canada and Mexico have said the tariffs are unacceptable and that imports of steel and aluminum don't affect U.S. national security. They warned the tariffs could put the fate of the North American Free Trade Agreement (NAFTA) at stake as all three countries attempt to renegotiate the pact.


More fallout from Trump's tariffs:


Oil industry fears toll of Trump steel, aluminum tariffs: Oil and gas industry representatives are expressing worries about new tariffs the Trump administration is imposing on steel and aluminum imports from three key U.S. allies.

The American Petroleum Institute (API) said it was "deeply discouraged" by the new tariffs on Mexico, Canada and the European Union that were announced Thursday, saying that the U.S. is moving in "the wrong direction."

"The implementation of new tariffs will disrupt the U.S. oil and natural gas industry's complex supply chain, compromising ongoing and future U.S. energy projects, which could weaken our national security," said API President and CEO Jack Gerard in a statement.

Gerard added that the tariffs could lead to increased prices in specialty steel and raise costs for domestic production of oil, natural gas and natural gas liquids. That would also come as the price of foreign oil imports are at a major high. The Hill's Miranda Green has more here on the industry's concerns.


Koch brothers group blasts Trump over new tariffs: A group supported by conservative mega-donors Charles and David Koch slammed President Trump on Tuesday over his announced steel and aluminum tariffs on the European Union, Canada and Mexico. 

"The tax cuts and reduction in regulatory barriers enacted by the Trump administration has helped economic growth and job creation. Wages have increased and unemployment rates are the lowest in decades," Freedom Partners spokesman James Davis said in a statement. 

"All this success will be greatly undermined by the imposition of new taxes on working Americans. Trade barriers make Americans as a whole poorer and they especially harm those already disadvantaged."


MARKET CHECK: The Dow Jones industrial average sank 250 points Thursday morning after President Trump announced that he would impose steel and aluminum tariffs on Canada, Mexico and the European Union. The Dow closed for the day down 251.94 points and the S&P was down 0.69 percent.



SEC charges Goldman Sachs vice president with insider trading: The Securities and Exchange Commission (SEC) on Thursday charged a Goldman Sachs vice president with insider trading.

Woojae "Steve" Jung, a San Francisco-based Goldman executive, allegedly made $140,000 in trades on companies that the bank was advising, according to the SEC complaint.

The agency's complaint only referred to a "prominent investment bank," but a listing in the industry database of brokers and a LinkedIn account with Jung's name identified him as a Goldman Sachs vice president for investment banking.

"Jung tried to insulate himself by allegedly placing trades in the brokerage account of a friend who lived overseas," said Joseph G. Sansone, chief of the SEC's market abuse unit.

"Like others before him, Jung's alleged scheme failed when our data analysis uncovered the account's suspicious trading pattern and, despite Jung's attempts at evasion, traced the trading back to him."  I've got more on the case here.



  • The Federal Deposit Insurance Corporation (FDIC) approved the opening of public comment on the interagency Volcker rule rewrite Thursday. Outgoing FDIC Chairman Martin Gruenberg, an Obama appointee who helped write the rule, said the proposal preserved the intent of the rule while making it easier to understand and enforce. The Securities and Exchange Commission and Commodity Futures Trading Commission are expected to approve the notice of proposed rulemaking soon. Read more on the proposal here.
  • House Democrats on Thursday launched an anti-poverty tour designed to highlight the plight of the poor under Republican control of Congress and the White House.
    The Fed has designated Deutsche Bank's sprawling U.S. business in "troubled condition," a rare rebuke for a major bank, according to The Wall Street Journal.
  • A fast-moving political crisis in Italy this week is a gut-punch to European leaders, reviving fears of a fresh assault on unity, according to The Washington Post.
  • Leverage levels for buyouts are close to pre-credit crisis levels as banks are more willing to underwrite highly leveraged deals following the Office of the Comptroller of the Currency's softened stance towards lending risk, according to Reuters.



  • President Trump's net worth slipped to $2.8 billion, a decline of $100 million over the past year, as revenue at his namesake Fifth Avenue tower and golf courses fell, according to Bloomberg.
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