European diplomats warned the Kremlin this week that NATO is ready to respond to further violations of its airspace with full force, including by shooting down Russian planes, according to officials familiar with the exchange.

At a tense meeting in Moscow, British, French and German envoys addressed their concerns about an incursion by three MiG-31 fighter jets over Estonia last week, according to the officials, who spoke on condition of anonymity as the talks took place behind closed doors. Following the conversation, they concluded that the violation had been a deliberate tactic ordered by Russian commanders. (Bloomberg – Continue Reading)

President Trump’s trade deal with South Korea is on shaky ground, with Commerce Secretary Howard Lutnick taking a tough line in talks as some Seoul officials privately argue to allies that the White House is moving the goal posts.

Lutnick, in recent conversations with South Korean officials, has discussed with Seoul the idea of slightly increasing the $350 billion they had previously guaranteed to the U.S. in July and suggested the final tally could get a bit closer to the $550 billion pledged by Japan, according to people familiar with the discussions, including an adviser to South Korea’s government. (WSJ – Continue Reading)

Swiss central bankers have left their benchmark interest rate unchanged, as expected, and the latest data and comments suggest no shifts to borrowing costs in the months ahead. But observers will be receiving more information about decision-making, with officials announcing plans to begin publishing accounts of their rate decision meetings starting in four weeks.

The Swiss National Bank said Thursday that it would hold its policy rate at zero percent, a level set in June. Most economists had predicted the decision.

The rate hold followed six straight reductions that included cuts of 25 basis points in June and March, and 50bp in December. (LiveSquawk – Continue Reading)

A senior Justice Department official has instructed more than a half dozen U.S. attorneys’ offices to draft plans to investigate a group funded by George Soros, the billionaire Democratic donor who President Trump has demanded be thrown in jail.

The official’s directive, a copy of which was viewed by The New York Times, goes as far as to list possible charges prosecutors could file, ranging from arson to material support of terrorism. The memo suggests department leaders are following orders from the president that specific people or groups be subject to criminal investigation — a major break from decades of past practice meant to insulate the Justice Department from political interference. (NY Times – Continue Reading)