Obama, Xi Face South China Sea Showdown

Representatives from 56 nations and organizations will gather in Washington Thursday for a two-day Nuclear Security Summit, where combating the threat of nuclear terrorism will be high on the agenda. President Obama is set to meet with Chinese President Xi Jinping on the sidelines of the event, and the two may [have some tough talking to do], after the U.S. refused to recognize China’s controversial maritime exclusion zone in the South China Sea. The [widespread China bashing] taking place among Republican 2016 candidates is also likely to cloud the pair’s meeting. Sponsored by: EVERYTHING YOU NEED TO KNOW, RIGHT NOW. #IBTPulse --------------------------------------------------------------- [Leaders Gather For Nuclear Security Summit] Representatives from 56 nations and organizations will gather in Washington Thursday for a two-day Nuclear Security Summit, where combating the threat of nuclear terrorism will be high on the agenda. President Obama is set to meet with Chinese President Xi Jinping on the sidelines of the event, and the two may [have some tough talking to do], after the U.S. refused to recognize China’s controversial maritime exclusion zone in the South China Sea. The [widespread China bashing] taking place among Republican 2016 candidates is also likely to cloud the pair’s meeting. [Tesla Poised To Unveil Model 3 Prototype] The auto world is buzzing with anticipation as Tesla CEO Elon Musk is expected to reveal a prototype of a $35,000 electric car with a 200-mile range Thursday night. The car, the Model 3, is the vehicle Musk hopes will spur global mass adoption of electric vehicles. Musk tweeted, a little enigmatically, that [tonight’s event is only part one] of the Model 3 unveiling. Part two, the details of which he did not specify, will happen closer to production. [Wall Street Eyes Positive Quarter] Barring some major negative developments on the markets Thursday, U.S. stocks will end the first quarter of 2016 in positive territory, albeit not massively so. The Dow and the broader S&P 500 index are both ending the quarter higher than they’ve been since late December. While the tech-heavy Nasdaq is still below its Jan. 5 level, it is close enough to that level to possibly squeeze out a gain on the last trading day of the quarter. [FCC To Throw Internet ‘Lifeline’] The Federal Communications Commission will vote on a proposal Thursday to allow low-income Americans to have subsidized broadband service, an evolution of the “Lifeline” program, which subsidizes phone service for millions of Americans. Only 41 percent of U.S. households with annual incomes below $20,000 had broadband at home in 2015, down by 5 percent from 2013. HERE'S WHAT YOU MISSED LAST NIGHT. [Argentina Lawmakers Approve Debt Deal] After a marathon 14-hour debate, Argentine senators from across the political spectrum voted to approve a deal that will see creditors holding the country’s defaulted debt repaid. The deal is central to President Mauricio Macri’s attempts to revitalize Argentina’s struggling economy, and will pave the way for the country’s return to international debt markets, with a major bond issue expected next month. [Amnesty Blasts Qatar World Cup Abuses] A new report from human rights organization Amnesty International has detailed ongoing migrant labor abuses in Qatar, linked to massive construction projects for the country’s hosting of the 2022 World Cup. Despite pledges from Qatar’s government to improve migrants’ rights, foreign workers reported living in cramped accommodation, not receiving pay for months and being threatened for complaining – a situation the report described as a “living nightmare” for some. [PM Spent Millions On Luxury Items, 1MDB Probe Finds] Malaysian Prime Minister Najib Razak spent about $15 million on luxury goods from his personal bank accounts — funds that investigators believe came from the indebted state-run fund 1Malaysia Development Berhad. The revelation follows Najib being cleared in a corruption scandal earlier this year over $681 million found in his accounts, which was suspected to have been linked to the fund. [Trump Under Fire For Abortion Comments] The Republican front-runner backtracked on comments he made Wednesday, in which he suggested that women who have illegal abortions should face “some kind of punishment.” Figures from across the political spectrum [condemned the comments], which underscore Trump’s problem with women voters, ahead of [Tuesday’s Wisconsin primary]. A recent poll found that 73 percent of registered women voters [hold an unfavorable view] of the controversial businessman. AND THEN THERE'S THIS... [Nazi Collaboration Claims Shock AP] The Associated Press was put on the defensive after an article in a German academic journal claimed the U.S. wire agency had cooperated with Hitler’s regime in the 1930s. The article alleged that the AP signed an agreement not to publish materials that would “weaken the Reich abroad or at home.” The AP denied the claims, saying only a photo subsidiary was subject to the Nazi press law. [You’re Not That Hot, State Dept. Says] The State Department’s Bureau of Consular Affairs has apologized for a tweet that sought to warn Americans traveling overseas about scams, by reminding them that they may not be attractive enough to be talked to by non-criminals. “Not a 10 in the U.S.? Then not a 10 overseas,” the tweet said, adding a warning about being scammed or robbed. The tweet sparked an inevitable [backlash on social media]. 7 Hanover Square, 5th Floor, New York, NY 10004 © 2015 IBT Media Inc. All Rights Reserved. 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