USA OUTLOOK DECEMBER 18 TO 22, 2023

USA OUTLOOK WEEKLY NEWSLETTER DECEMBER 18 TO 22 10001111NOVEMBER 00

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DECEMBER 18, 2023

DECEMBER 19, 2023

US officials seize extortion websites; ransomware hackers vow more attacks U.S. officials on Tuesday seized digital extortion websites associated with the notorious "Blackcat" ransomware gang, sparking a threat from the hackers to escalate their attacks.

Blackcat - also known as ALPHV or Noberus - is accused of working with the prolific hacking gang known as "Scattered Spider," which has terrorized major businesses including MGM Resorts International (MGM.N) and Caesars Entertainment (CZR.O).

Photo REUTERS/Lee Jae-Won/File Photo Acquire Licensing Rights

New US workers offered record average wages in November, NY Fed says The average wage U.S. employers were willing to offer new workers surged to record levels in November, a report from the New York Federal Reserveshowed on Monday.

The Justice Department said in a statement that it had "gained visibility into the Blackcat ransomware group's computer network" and seized several websites used by the group, as well as hundreds of cryptographic keys that could be deployed to help rescue up to 500 hacking victims.

The average full-time annual wage offer moved to $79,160 in November from $69,475 in July, the regional Fed bank said in its Survey of Consumer Expectations Labor Market Survey. The wage in November was the highest ever in a survey that dates back to 2014 and likely reflects ongoing labor market tightness, with firms being forced to come up with higher levels of cash to secure employees.

Workers in the survey also trimmed their so-called reservation wage, which is the minimum pay level someone will take for a new job. That dropped to $73,391 as of last month, from $78,645 in July.

The report also showed that churn in the job market may be set to increase. Some 23.1% of respondents said they'd searched for a new job in the last month, compared to 19.4% who said the same thing in July.

Photo REUTERS/Kevin Lamarque/File Photo Acquire Licensing Rights Souce: https://www.reuters.com/markets/us/ny-fed-finds-new-workers-offered-recordaverage-wages-november-2023-12-18/

Souce: https://www.reuters.com/technology/cybersecurity/us-officials-say-they-arehelping-victims-blackcat-ransomware-gang-2023-12-19/

DECEMBER 20, 2023

DECEMBER 21, 2023

Honda recalling about 4.5 million vehicles worldwide over fuel pump issue

Honda Motor's (7267.T) American unit is recalling about 4.5 million vehicles worldwide over risks of fuel pump failure, the Japanese automaker said.

The recall includes 2.54 million vehicles in the United States and comes after the automaker previously recalled 628,000 U.S. vehicles in 2021 and 136,000 in 2020 for the same issue.

Photo: REUTERS/Lucy Nicholson Acquire Licensing Rights

California approves rules for converting sewage waste to drinking water California regulators on Tuesday cleared the way for widespread use of advanced filtration and treatment facilities designed to convert sewage waste into pure drinking water that can be pumped directly into systems feeding millions of household taps.

Honda issued recalls earlier this month over the same issue in China and Japan.

Honda dealers will replace the fuel pump module, the automaker said in a filing with the National Highway Traffic Safety Administration (NHTSA).

Honda plans to notify owners in early February of the recall.

Honda said it had no reports of injuries but 4,042 warranty claims related to the issue since 2018.

Proven technologies capable of recycling wastewater for human consumption, a concept once derided by critics as "toilet to tap," have gained greater credence in recent years as water-conscious California faces worsening drought cycles from climate change.

More than a decade in the making, the regulations adopted by the State Water Resources Control Board represent a landmark in the quest to reclaim some of the hundreds of millions of gallons of waste discharge that flows out to sea unused each year, supporters say.

Souce: https://www.reuters.com/business/environment/california-approves-rulesconverting-sewage-waste-drinking-water-2023-12-20/

Souce: https://www.reuters.com/business/autos-transportation/honda-recall-over-25million-us-vehicles-nhtsa-2023-12-21/

DECEMBER 22, 2023

Photo: REUTERS/Kevin Lamarque/File Photo Acquire Licensing Rights

US Treasury's financial crimes unit lays out access plan for shell company data The U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) on Thursday detailed its plan for granting access to new data about shell company ownership to certain government agencies, law enforcement and financial firms.

FinCEN in 2024 will begin requiring certain companies to report beneficial ownership data, part of an effort by lawmakers and the Treasury Department under President Joe Biden to crack down on corruption and money laundering.

The new rule finalized on Thursday followed the 2021 passage of the Corporate Transparency Act, a law aimed at combating illicit finance.

A year ago, FinCEN first proposed a plan for allowing access to the database - a trove of detailed financial data on companies created or doing business in the U.S. that has raised privacy concerns.

Souce: https://www.reuters.com/world/us/us-treasurys-financial-crimes-unit-lays-outaccess-plan-shell-company-data-2023-12-21/