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The US and Australia will work to improve financial links in the Pacific region to counter China's influence

U.S. and Australian officials said on Monday (July 8) that both countries are committed to improving financial connectivity in the Pacific and strengthening banking services in the region to resist China's growing covetousness.

According to Reuters, at the two-day Pacific Banking Forum co-hosted by the United States and Australia, Australian Assistant Treasurer Stephen Jones said that Canberra hopes to be the partner of choice in the Pacific region, both in banking and defense.

"If there are countries acting in this region whose main goal is to promote their own national interests rather than the interests of Pacific island countries, we will be very concerned," Jones said at the first day of the forum in Brisbane. He made this comment when asked about Chinese banks filling the vacuum in the Pacific region.

The report said that as some Western banks have interrupted their long-standing business relationships with banks in small Pacific island countries, while others are preparing to close their businesses, these Pacific island countries face many challenges and their ability to obtain US dollar-dominated banking business is limited.

The report said that experts said that Western banks are taking de-risking actions to meet financial regulations, which makes it more difficult to do business in Pacific island countries. This in turn weakens the financial resilience of these island nations.

At the same time, Washington is also stepping up efforts to support Pacific island nations in limiting China's influence. Brian Nelson, U.S. Treasury Undersecretary for Counterterrorism and Financial Intelligence, said, "We recognize the economic and strategic importance of the Pacific region, and we are committed to deepening engagement and cooperation with our allies and partners to enhance financial connectivity, investment and integration."

The report said that neither the United States nor Australia has yet announced detailed plans at the forum, but comments from officials from both countries reflect the growing unease among Western countries that have traditionally had influence in the Pacific region about China's growing influence in the region.

Workers warn of additional walkouts unless demands are met
Members of the National Samsung Electronics Union stage a rally near the company's Hwaseong Campus in Gyeonggi Province, Monday, beginning a three-day strike. Korea Times photo by Shim Hyun-chul By Nam Hyun-woo The biggest labor union at Samsung Electronics initiated a three-day strike on Monday, threatening to disrupt the company's chip manufacturing lines unless management agrees to a wage hike and higher incentives. This marks the first strike by unionized workers in the tech giant's 55-year history. The National Samsung Electronics Union (NSEU) claimed that about 4,000 unionized workers from Samsung's plants nationwide participated in a rally at the company's Hwaseong Campus in Gyeonggi Province. Police estimated that approximately 3,000 union members were present at the rally. According to its own survey, the union reported that a total of 6,540 members expressed their intention to participate in the strike. They emphasized that disruptions in manufacturing are anticipated, with over 5,000 members from facility, manufacturing, and development divisions joining the strike. The comments seem to address market expectations that the walkout is unlikely to cause significant disruptions in the chipmaker's operations, largely because most manufacturing lines are automated. The union said that it may launch another strike for an undetermined period, unless management responds to the union’s demand. Since January, the union has been pressing management for a higher wage increase rate for all members, fulfillment of promises regarding paid leave, and improvements to incentive criteria. With negotiations at an impasse, the union announced on May 29 that it would launch a strike. The NSEU has some 30,000 members, accounting for 24 percent of all Samsung employees. Among the union members, about 80 percent work at the device solutions division, which manufactures semiconductors.
Israeli strike kills a senior Hezbollah commander in south Lebanon
BEIRUT/JERUSALEM July 3 (Reuters) - An Israeli strike killed one of Hezbollah's top commanders in south Lebanon on Wednesday, prompting retaliatory rocket fire by the Iran-backed group into Israel as their dangerously poised conflict rumbled on. The Israeli military said it had struck and eliminated Hezbollah's Mohammed Nasser, calling him commander of a unit responsible for firing from southwestern Lebanon at Israel. Nasser, killed by an airstrike near the city of Tyre in southern Lebanon, was the one of the most senior Hezbollah commanders to die yet in the conflict, two security sources in Lebanon said. Sparked by the Gaza war, the hostilities have raised concerns about a wider and ruinous conflict between the heavily armed adversaries, prompting U.S. diplomatic efforts aimed at deescalation. Israeli Defence Minister Yoav Gallant said Israeli forces were hitting Hezbollah "very hard every day" and will be ready to take any action necessary against the group, though the preference is to reach a negotiated arrangement. Hezbollah began firing at Israeli targets at the border after its Palestinian ally Hamas launched the Oct. 7 attack on Israel, declaring support for the Palestinians and saying it would cease fire when Israel stops its Gaza offensive. Hezbollah announced at least two attacks in response to what it called "the assassination", saying it launched 100 Katyusha rockets at an Israeli military base and its Iranian-made Falaq missiles at another base in the town of Kiryat Shmona near the Israeli-Lebanese border. Israel's Channel 12 broadcaster reported that dozens of rockets were fired into northern Israel from Lebanon. There were no reports of casualties. The Israeli Defence Ministry said that air raid sirens sounded in several parts of northern Israel. Israel's military did not give a number of rockets launched but said most of them fell in open areas, some were intercepted, while a number of launches fell in the area of Kiryat Shmona.
Exclusive: Japan must strengthen NATO ties to safeguard global peace, PM says
TOKYO, July 9 (Reuters) - Russia's deepening military cooperation with North Korea has underlined the need for Japan to forge closer ties with NATO as regional security threats become increasingly intertwined, Prime Minister Fumio Kishida told Reuters. In written remarks ahead of his attendance at a NATO summit in Washington DC this week, Kishida also signalled concern over Beijing's alleged role in aiding Moscow's two-year-old war in Ukraine, although he did not name China. "The securities of the Euro-Atlantic and the Indo-Pacific are inseparable, and Russia’s aggression against Ukraine and its deepened military cooperation with North Korea are strong reminders of that," Kishida said. "Japan is determined to strengthen its cooperation with NATO and its partners," he added. The world, the Japanese leader said, should not tolerate attempts by some countries to disrupt the established international order and reiterated a warning that Ukraine today could be East Asia tomorrow. He also urged cooperation to confront new security threats that transcend geographical boundaries, such as cyber-attacks and conflicts in space. The U.S. and its allies have accused Pyongyang of providing ballistic missiles and artillery shells that Russia has used in its war in Ukraine and say they fear Moscow in return could provide support for North Korea's nuclear missile development. Washington has also said China is supplying droneWithout naming China, Kishida told Reuters "some countries" have allegedly transferred dual-use civilian-military goods to Russia which has served "as a lifeline" for its Ukraine war. "It is necessary to grapple with such situations in a multi-faceted and strategic manner, taking a panoramic view that considers the full range of international actors fuelling Russia’s attempt to change the status quo by force," he said. "The geographical boundary of 'Euro-Atlantic' or 'Indo-Pacific' is no longer relevant in safeguarding global peace and security. Japan and Indo-Pacific partners can play a great role for NATO allies from this perspective." Constrained by decades of pacifism, Tokyo has been reluctant to supply lethal aid to Ukraine. It has, however, provided financial aid to Kyiv, spearheaded efforts to prepare for its post-war reconstruction, and contributed to NATO’s fund to provide Ukraine with non-lethal equipment such as anti-drone detection systems. Tokyo has also repeatedly warned about the risks of a similar conflict emerging in East Asia, where China has been taking an increasingly muscular stance towards its territorial claims including the democratic island of Taiwan. "This summit is a critical opportunity for Japan, the U.S., and the other NATO allies to confront the ongoing challenges against the international order and to reaffirm values and principles that have shaped global peace and prosperity," he said. There may be limits, however, over how far NATO members are prepared to go in forging closer ties in Asia. A plan that surfaced last year for NATO to open a liaison office in Japan, its first in Asia, was blocked by France and criticised by China. and missile technology, satellite imagery and machine tools to Russia, items which fall short of lethal assistance but are helping Moscow build its military to sustain the Ukraine war. Beijing has said it has not provided any weaponry to any party.
Apple's low-end Apple Watch uses a plastic case
Apple is giving the Apple Watch a major update for its 10th anniversary. The watch's display will be larger, and the entire device will be thinner and lighter. Both the Apple Watch Series 10 and the new Apple Watch Ultra 3 will be equipped with new chips, which may be paving the way for future Apple AI capabilities. According to sources, the Apple Watch health detection function has encountered some technical obstacles in the upgrade process, the blood pressure measurement function or can only realistically display fluctuations and cannot display values, and the sleep apnea detection and other functions can not appear on the new product. The shell material of Apple Watch SE series products may be replaced by hard plastic from aluminum shell. The plastic-clad Apple Watch may be sold at a lower price to compete with Samsung's cheapest Watch, the Galaxy Watch FE. In addition, Siri's new features may be delayed, and AirPods with cameras may arrive in 2026.
Samsung hit the biggest strike! Over 6,500 people attended.
More than 6,500 employees at South Korea's Samsung Electronics began a three-day mass strike on Monday (July 8), demanding an extra day of paid annual leave, higher pay raises and changes to the way performance bonuses are currently calculated. This is the largest organized strike in Samsung Electronics' more than half century of existence, and the union said that if this strike does not push employees' demands to be met, a new strike may be called. One of the core issues of the current dispute between the labor union and Samsung Electronics is raising wages and increasing the number of paid vacation days. The second demand is a pay rise. The union originally wanted a pay rise of more than 3% for its 855 employees, but last week they changed their demand to include all employees (rather than just 855). The third issue involves performance bonuses linked to Samsung's outsized profits - chip workers did not receive the bonuses last year when Samsung lost about Won15tn and, according to unions, fear they will still not get the money even if the company manages to turn around this year.