Canada's nuclear regulator signs memorandum of understanding with China

The Canadian Nuclear Safety Commission (CNSC) has signed a memorandum of understanding (MOU) with the National Nuclear Safety Administration (NNSA) of the People’s Republic of China, to cooperate and exchange nuclear safety regulatory information about the peaceful use of nuclear energy.
               

CNSC President Michael Binder signed the MOU in Ottawa. The MOU entered into effect recently when it was signed in Beijing by Li Ganjie, the NNSA Administrator.

CNSC Executive Vice-President and Chief Regulatory Operations Officer Ramzi Jammal witnessed the signing in China.

The MOU provides a framework for the CNSC, as Canada’s national nuclear regulator, and the NNSA, as China’s regulator of nuclear safety, to exchange technical information about topics such as the regulation of nuclear facilities and radioactive sources, and radiation protection. The MOU provides clear guidance about the organization of cooperative activities and responsibilities for the security of information exchanged.

The CNSC establishes and maintains regulatory cooperation arrangements with its international counterparts to share information and best practices, with a view of further enhancing nuclear safety and security in Canada and abroad.

Kerry, Lavrov talks to try to finalize details of cooperation on Syria

U.S. Secretary of State John Kerry and his Russian counterpart, Sergei Lavrov, will try to hammer out final details of a cooperation agreement on fighting Islamic State in Syria during talks in Geneva on Friday.

The hope is that a deal will lead to a cessation of hostilities across Syria and relaunch talks on a political transition in the country.

While Kerry said this week that technical teams from both sides were close to the end of their discussions, U.S. officials indicated it was too early to say whether a deal was likely.

When Kerry launched the Syrian cooperation talks in July on a visit to Moscow, the proposal involved Washington and Moscow sharing intelligence to coordinate air strikes against Islamic State and grounding the Syrian air force to stop it from attacking moderate rebel groups.

Russia agreed to a 48-hour humanitarian ceasefire in the divided Syrian city of Aleppo to allow aid deliveries, although U.N. officials said they were waiting for security guarantees from parties on the ground.

The United Nations has pushed for a weekly pause in the fighting in Aleppo to deliver food, water and medicine to people caught in the fighting.

Separately, Syrian rebels and government forces agreed in a deal on Thursday to evacuate all residents and insurgents from the besieged Damascus suburb of Daraya, ending one of the longest standoffs in the five-year conflict.

Deal or no deal? Five common mistakes people make when negotiating deals

Having spent the past few years teaching organisations around the world how to negotiate effectively, a common question I get asked is whether our gender makes a difference to our ability to negotiate. My starting point is always, without fail, that it should not make any difference. Both men and women are able to be amazing negotiators.

However, that doesn't mean that there aren't assumptions and stereotypes that limit how we might approach negotiating a deal. In this series of articles, it is my job to tackle these issues head on and show you how you can be a negotiation superhero.

First, I am going to explore five common mistakes made by negotiators. If you recognise yourself in any of the following examples, it might be time to re-think your negotiation strategies.

Guardian Women in Leadership provides insight on gender diversity for progressive thinking organisations, as well as career advice and inspiration for senior women. Sign up now to become a member of Women in Leadership and receive exclusive benefits.

Mistake 1: Negotiation is all about winning

It isn't. Not outwardly anyway. At the end of the negotiation you want the other party to feel like they have "won". Because if they feel like they have lost, the negotiation ends and they will be the client or customer who keeps coming back, asking for more, making late payment, not prioritising your requests or just being generally unco-operative. Nobody likes to feel like a fool. So at the end of the negotiation, make sure you behave with grace and professionalism. Make them feel like they have won, even if you know that you have secured the deal of a lifetime.

Mistake 2: Avoiding negotiation is a clever strategy

I know, let's just skip that negotiation part! No one really likes doing it, so let's just cut to the chase and save time. We all know it's just a game, right? Wrong.

A common mistake is to try and bypass the negotiation entirely, believing that both you and the other party will be grateful that they have avoided all that unnecessary awkwardness. The problem with this strategy is that despite the old saying, people do look a gift horse in the mouth. If something is too easy, people start to wonder why that was the case and what might be wrong with the deal they have just (so easily) agreed to.

Mistake 3: Sticking to your tried and trusted negotiation style

I routinely see clients who pride themselves on being "the bad cop" or "the collaborator" when it comes to negotiation. The problem is that they use that same style every single time they negotiate, regardless of the situation.

Not all negotiations are the same. Some require a more direct and unemotional response, whereas others require more creative thinking. Some will have one variable, others will have hundreds. If you adopt your standard collaborative' approach in a hard-bargaining scenario, you will be taken advantage of. Similarly, if you approach a win/win negotiation with a tough and aggressive style, you are unlikely to get the result you want. To be the best negotiator you can be, get comfortable with flexing your style.

Mistake 4: Always trying to be fair

Just to be clear, I am not suggesting that you should actively be seeking deals that are unfair to the other party. What I am suggesting is that you shouldn't always assume that your definition of fairness matches theirs. I routinely hear people delivering proposals to the other side and then following up their suggestion with "I think that's a fair proposal, don't you?"

Each party approaches a negotiation with their own interpretation as to what makes an agreement fair. Put simply, what is fair to a buyer is probably not fair from the perspective of the seller, and vice versa.

So don't be surprised if their response to your very "fair" suggestion is a flat refusal.

Mistake 5: It's all about you

When we approach a negotiation, we often spend most of our time thinking of all the reasons why the outcome is important to us. We get bogged down in thinking about deadlines, expectations, demands, targets, pressure from competitors, ambition or whatever it might be that matters to us. We often allow this to cloud our thinking and in doing so we ramp up the pressure on ourselves to do well. This often results in anxiety, fear and nervousness clouding our judgement, planning and performance.

Smart negotiators realise that the best way to diffuse the pressure of our own expectations is to simply acknowledge these pressures and then put them to one side. The real set of pressures and priorities that we should be thinking about exist in the head of our counterparty. Even if they do come across as powerful and intimidating, they too will have deadlines, expectations from colleagues and demands from their boss.

The more you research your counterparty and understand things from their perspective, the more you can start to use their pressures to your advantage. It also goes a long way to boosting your own confidence if you know that the balance of power might just be a bit more even than you had previously thought.

Crowdfunding needs good regulation to flourish

If one were seeking a perfect example of why it’s so hard to make financial markets work well, one would not have to look further than the difficulties and controversies surrounding crowdfunding in the United States. After deliberating for more than three years, the US Securities and Exchange Commission (SEC) last month issued a final rule that will allow true crowdfunding; and yet the new regulatory framework still falls far short of what’s needed to boost crowdfunding worldwide.

True crowdfunding, or equity crowdfunding, refers to the activities of online platforms that sell shares of startup companies directly to large numbers of small investors, bypassing traditional venture capital or investment banking. The concept is analogous to that of online auctions. But, unlike allowing individuals to offer their furniture to the whole world, crowdfunding is supposed to raise money fast, from those in the know, for businesses that bankers might not understand. It certainly sounds exciting.

Regulators outside the US have often been more accommodating, and some crowdfunding platforms are already operating. For example, Symbid in the Netherlands and Crowdcube in the United Kingdom were both founded in 2011. But crowdfunding is still not a major factor in world markets. And that will not change without adequate – and innovative – financial regulation.

There is a conceptual barrier to understanding the problems that officials might face in regulating crowdfunding, owing to the failure of prevailing economic models to account for the manipulative and devious aspects of human behaviour. Economists typically describe people’s rational, honest side, but ignore their duplicity. As a result, they underestimate the downside risks of crowdsourcing.

The risks consist not so much in outright fraud – big lies that would be jailable offences – as in more subtle forms of deception. It may well be open deception, with promoters steering gullible amateurs around a business plan’s fatal flaw, or disclosing it only grudgingly or in the fine print.
Advertisement

It is not that people are completely dishonest. On the contrary, they typically pride themselves on integrity. It’s just that their integrity suffers little lapses here and there – and not always so little in aggregate.

In my new book with George Akerlof, Phishing for Phools: The Economics of Manipulation and Deception, we argue that unscrupulous behavior has to be factored into economic theory in a fundamental way. The economic equilibrium we live should be regarded, above all, as a phishing equilibrium, in which small-time individual dishonesty can morph into something more systemically important when it is carried on by business organisations under intense competitive pressure. Yes, competition rewards the sharp and hardworking. But it also often compels them to keep the frontiers of subtle deception in view.

The SEC’s new rules for crowdfunding are complex, because they address a complicated problem. The concept underlying crowdfunding is the dispersal of information across millions of people. Most people, even the cleverest, cannot grasp the next breakthrough business opportunity. Those who can are dispersed. The economist Friedrich Hayek put it well in 1945:

“[T]here is beyond question a body of very important but unorganised knowledge which cannot possibly be called scientific in the sense of knowledge of general rules: the knowledge of particular circumstances and place. It is with respect to this that practically every individual has some advantage over all others in that he possesses unique information of which beneficial use might be made, but of which use can be made only if the decisions depending on it are left to him or are made with his active co-operation.”

The problem is that the promise of genuine “unique information” comes with the reality of vulnerability to deception. That’s why channeling dispersed knowledge into new businesses requires a regulatory framework that favours the genuinely enlightened and honest. Unfortunately, the SEC’s new crowdsourcing rules don’t go as far as they should.

The 2012 US legislation that tasked the SEC with rulemaking for crowdfunding platforms specified that no startup can use them to raise more than $1m a year. This is practically worthless in terms of limiting the scope for deception. In fact, including this provision was a serious mistake, and needs to be corrected with new legislation. A million dollars is not enough, and the cap will tend to limit crowdfunding to small ideas.

Some of the SEC rules do work against deception. Notably, crowdfunding platforms must provide communication channels “through which investors can communicate with one another and with representatives of the issuer about offerings made available.”

That is a good rule, fundamental to the entire idea of crowdfunding. But the SEC could do more than just avow its belief in “uncensored and transparent crowd discussions.” It should require that the intermediary sponsoring a platform install a surveillance system to guard against interference and shills offering phony comments.

The SEC and other regulators could go even further. They could nudge intermediaries to create a platform that summarises commenters’ record and reputation. Indeed, why not pay commenters who accumulate “likes” or whose comments on issuers turn out to be valuable in light of evidence of those enterprises’ subsequent success?

For the financial system as a whole, success ultimately depends on trust and confidence, both of which, like suspicion and fear, are highly contagious. That’s why, if crowdfunding is to reach its global potential, crowdphishing must be prevented from the outset. Regulators need to get the rules right (and it would help if they hurried up about it).

CBI comes out strongly in favour of Britain staying in EU

The CBI has signalled its determination to campaign for Britain to remain in the EU, as the battle lines are drawn for the country’s in-out referendum campaign.

The UK’s leading business group published a glossy report, Choosing Our Future, on Wednesday, liberally sprinkled with quotes from companies and trade bodies about the boost to their bottom line from remaining in the European single market.

The referendum on EU membership David Cameron has promised may be as much as two years away, aand will follow the prime minister’s efforts to renegotiate Britain’s position in the union with his EU counterparts.

Following the launch of official in and out campaigns, the CBI, which represents 190,000 businesses employing 7 million people, is keen to show that it will play a leading role in promoting the benefits of remaining in a reformed EU.

“The single market has been the solid foundation of our economic success in recent decades, giving us direct access to eight times more consumers than in the UK alone and ensuring we can go toe-to-toe with larger economies on major trade deals, creating jobs and economic growth here in the UK,” said John Cridland, the CBI’s outgoing director general.

The business secretary, Sajid Javid, criticised the CBI earlier this year for weakening the prime minister’s hand as he prepares to negotiate with Brussels, by appearing to offer unconditional support for British membership.

Mindful of that criticism, Cridland said: “We should not be blind to the downsides and recognise the EU, like any big institution, has its faults and needs to do better.”

Throughout the new report, however, CBI member companies and trade bodies large and small laud the EU and its benefits.

“We export over 60% of the music made in the UK – our biggest markets are the European Union and America. Access to customers through the EU single market has undoubtedly helped the UK music industry become a world leader,” says Jo Dipple, the chief executive of UK Music, which represents the industry.

Andy Wood, the chief executive of the Southwold-based brewer Adnams, says: “We are making British beer popular across Europe, selling easily through the EU single market to our largest export market, Sweden, meaning we can continue to grow our 420 strong workforce back home.”

Echoing a report published by the Britain Stronger in Europe group last weekend, the CBI also stresses the benefits to UK consumers of membership, which allows them to “buy cheese from France, salami from Italy, beer from Belgium and put it in a fridge from Germany as if they were buying from the UK, with no extra charges”.

It suggests that leaving the EU would mean having to negotiate new trade deals with longstanding European exporters, and could see tariffs and taxes slapped on foreign goods.

The opening salvo in the campaign from the business community comes as Mark Carney, the Bank of England’s governor, prepares to deliver his own verdict on the risks of a Brexit in a speech at St Peter’s College, Oxford.

Speaking on Wednesday afternoon, Carney is expected to reveal the results of Project Bookend, a Bank investigation into the implications of a British exit from the EU for its key tasks of maintaining monetary and financial stability.

Most business groups appear poised to line up behind the campaign to stay, but trade unions are divided. Some see the EU as a powerful guarantor of human rights, but others fear the prime minister will bargain away worker protections in his forthcoming negotiations.

The TUC’s general secretary, Frances O’Grady, said: “The EU is at its best when it meets the interests of both business and workers. But the prime minister’s plans for EU renegotiation will put at risk important rights that UK workers get from the EU, such as paid holidays, rest breaks and protection against working excessive hours.

“If you take workers’ rights away, they will be less likely to vote to stay in the EU.”

Know Your Value: Q&A with Citi's Ida Liu

For over 200 years, Citi has supported Progress Makers and their ideas, recognizing the powerful role they play in business and in their communities. As the leading global bank, we pride ourselves on the diversity of thinking we bring to bear for our clients, and know that our success relies on the exceptional talents of our people.

Citi engages in a number of leadership development programs at all levels of the organization. “We believe in enabling our colleagues’ progress with opportunities to excel and grow along their career path, so we continue to have more diverse perspectives at all levels – this is core to our culture and simply good business. We’re thrilled to support new partnerships that empower and champion emerging women leaders,” says Mary Ann Villanueva, Director of Global Branding & Sponsorships and Citi Women sub-committee head.

The first such partnership is with Know Your Value, a program with NBCUniversal News Group and Mika Brzezinski, co-host of msnbc’s flagship morning program Morning Joe. The Know Your Value program explores how female aspiring leaders can get their worth at work and create the lives they want along the way, and will be hosted in five U.S. cities in 2015 including Philadelphia, Washington, D.C., Chicago, Boston, and Orlando.

Ida Liu, Managing Director, Citi Private Bank Head of North America Asian Clients Group, was a speaker on the April 10 Know Your Value program in Philadelphia. After the event, I caught up with Ida and asked her a few questions.

1. Describe one “Know your value” moment in your career? (A story of where you stepped up, were validated in some way, etc.)

I started my career in mergers and acquisitions investment banking focused on the Technology, Media and Telecommunication industries. After almost seven years in investment banking, I made a huge career switch and moved into the fashion industry. I ran a women’s fashion design company and during my time in the fashion industry, every fashion designer would ask me “What stocks should I buy? What bonds should I buy? How should I invest my wealth?” I had an A-HA moment where I discovered a void in the marketplace for wealth management solutions to the fashion industry. I put together a business plan and pitched the concept to Citi Private Bank and joined Citi almost 10 years ago as the Head of the Fashion, Retail and Entertainment practice – a business that we built rapidly and successfully.

Both times, when I switched direction in my career, I was taking a risk and stepping out of my comfort zone – from investment banking to fashion, and from fashion to private banking. But both career moves were certainly “Know Your Value” moments.

Two takeaways from those “Know Your Value” moments were that you always have to ask for what you want – if you don’t ask, you won’t get it! And to be willing to take risks, step outside of your comfort zone and think outside the box.

2. What are your top tips for negotiating?

- If you don’t ask for it, you won’t get it!

- According to The Confidence Code by Katty Kay & Claire Shipman, research has shown that men ask for the next job, promotion or raise when they are 60 percent ready for it, while women wait until they are 100 percent ready. Be willing to raise your hand for bigger and better … sooner.

- Think about the full picture – there are many negotiation points to a package, not just compensation.

- Understand what your company/client needs are and demonstrate your value-add and unique strengths.

- Know Your Value – know where you are vs. the rest of the market.

- Prepare, prepare, prepare!

3. Oftentimes we need to take risks to succeed. What are your suggestions for getting back on track after a failure?

We won’t be well rounded professionals if we always succeed and never experience setbacks. Failures are opportunities to develop, learn and grow. View them that way and don’t be hard on yourself. Remember, we are all human and everyone makes mistakes. It’s how we deal with the mistakes and failures that distinguish leaders from the rest.

4. What are you reading now?

I read two books recently – “Knowing Your Value” by Mika Brzezinski and “The Confidence Code” referenced earlier. I was on a panel with Katty and interviewed by Mika for her Know Your Value conference sponsored by NBC on April 10 in Philadelphia, PA. I read the books to prepare for the panel and they are full of solid and excellent advice for women. As I read the books, I was highlighting the important points and ended up highlighting every page! The key takeaways from the books were: own your success (and don’t be apologetic for it!) and always be confident.

5. What one thing would you recommend to professional women entering the work force?

I would encourage everyone to get involved with their communities and the causes they love, or participate in company sponsored networks, if they have them available as we do at Citi. As you know, I am actively involved with Citi Women, our company-wide effort that you work closely with, that is designed to attract, develop, advance and retain female talent at all levels of the company. Through our initiatives, we seek to unlock the combined potential of women and Citi. As part of Citi Women, we have several programs that target high-performing female managers and executives, which have successfully supported women’s advancement and retention at Citi. These programs demonstrate the importance of sponsorship, mentoring and networking opportunities in advancing women’s careers.

As you know, I also serve as Chair of the Citi Women’s International Women’s Day (IWD) celebrations globally. We have been celebrating International Women’s Day for the past five years - this year we had over 220 client events in 90 countries. This year’s IWD theme was “Connecting Women. Inspiring Change. Making Progress,” and our programs focused on how women have made progress both in their professional and personal lives.

Minecraft mobile builds towards desktop version with latest update

Minecraft: Pocket Edition 0.12 adds features including hunger, the Nether and ocelots.

The smartphone and tablet edition of Minecraft is now much closer to its desktop and console versions, after developer Mojang launched one of the biggest updates in its history.

The Minecraft: Pocket Edition 0.12 update adds some prominent features that had previously been missing from the mobile version including hunger; sneaking and sprinting; the game’s Nether zone; and tameable ocelots.

Mobile gamers will also be able to play against people on PCs using the new Windows 10 version of Minecraft, and use physical controllers paired with their iOS device. The update has also launched for Windows Phone, with Android to follow.

The update is a significant moment for Minecraft’s Pocket Edition, which reached the milestone of 30m sales in January 2015, but has always lagged behind the versions for computers and consoles in its features.

The game has been improving rapidly, though, in response to its increasingly large audience: many of whom have only ever played Minecraft on a mobile device.

Previous significant updates included 0.95 in July 2014 which added infinite worlds, caves and wolves, and 0.11 in June 2015 which added a skins feature for players to customise their characters.

Mojang announced plans for the 0.12 update at its Minecon conference in July, with the addition of The Nether getting the biggest cheer from the thousands of attendees.

The next major improvement will be full use of the virtual redstone material to create circuits that transmit power, which Mojang promised would come in a Pocket Edition update by the end of 2015.

The developer, which was acquired by Microsoft for $2.5bn in 2014, is also planning to launch its Realms service – where players pay a monthly subscription to manage their own private Minecraft servers to play on with friends – for the Pocket Edition.

Mojang is also working with developer Telltale Games on a new “narrative-driven adventure” called Minecraft: Story Mode, which is expected to debut by the end of 2015.