Tensions between Japan and South Korea come as the U.S. and its trading partners are embroiled in a global trade war.Technologyread more
The one-to-eight stock split would mean the current number of ordinary shares — which stands at 4 billion — will increase to 32 billion. It comes ahead of a reported Hong Kong...Asia Marketsread more
Minutes from the Reserve Bank of Australia's monetary policy meeting in July showed the central bank was ready to adjust interest rates if required.Asia Marketsread more
Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
China's fiscal spending increased 10.7% in the first six months from a year earlier, the finance ministry said on Tuesday, underlining the government's bid to support the...China Economyread more
The findings by McKinsey and Company come amid a year-long tariff fight between the U.S. and China, which has spilled into areas such as technology and security.China Economyread more
Microsoft's considerable reach into the corporate world isn't something Slack CEO Stewart Butterfield is very concerned about.Technologyread more
A devastating outbreak of African swine fever that has killed millions of pigs in China is changing attitudes in a country where farm hygiene has often been seen as lax by...Livestockread more
In a closed-door meeting at a Manhattan mansion, executives outlined changes to controversial software that was implicated in two crashes.Aerospace & Defenseread more
President Donald Trump and the RNC are picking up key supporters in the business community who did not back him as a candidate in 2016.2020 Electionsread more
Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Commerce Secretary Wilbur Ross announced more details Tuesday about how his department will become "a one-stop shop" for regulating the burgeoning space industry.
The Commerce Department also plans to work with the existing regulations enforced by the Federal Aviation Administration and Federal Communications Commission, Ross said.
"The Department is repositioning and consolidating all of its space commerce functions under my direct supervision in the Office of the Secretary," Ross said during a speech at the 34th Space Symposium in Colorado Springs, Colorado.
"Commerce is developing regulatory and statutory proposals for a mission authorization framework for all commercial space activities, other than [FAA] launch and re-entry regulations and spectrum regulated by the FCC," Ross said.
Regulation has been an often-heard complaint from those in the commercial space industry. Last October, at the first National Space Council meeting, SpaceX President and COO Gwynne Shotwell slammed existing space regulations.
"If we want to achieve rapid progress in space, the U.S. government must remove bureaucratic practices that run counter to innovation and speed," Shotwell said.
Shotwell said SpaceX was "working well" with the FAA but noted that "it requires heroics" for vehicle operators to adjust rocket launch licenses.
"You have to basically apply for a new license" if an operator makes a change such as switching launch pads at a spaceport, Shotwell said.
Ross used SpaceX on Tuesday as an example "of how commercial activity in space is outpacing government regulation." He talked about the company's successful launch from California in March, which saw its launch webcast cut short by National Oceanic and Atmospheric Administration regulations.
"The law requires authorization of camera activity from objects in Earth-orbit to protect U.S. national security interests," Ross said. "However, SpaceX was not scanning the features of the Earth nor examining the bounds of its orbit."
Ross said he met with several satellite industry executives to work on fixing another critical bottleneck for commercial space in the regulatory process. Ross said the Commerce Department is seeing improvements already in the turnaround time for approving some satellite operating licenses due to a new agreement with the Pentagon. Before the implementation of the agreement, Ross said the average time from application to receiving a license was 210 days. After the agreement, the average time has reduced "over 50 percent," Ross said, to an average of 91 days.
"Government can and must do better," Ross said. "It shouldn't take longer to get a license than it does to design a rocket or a satellite."
The secretary also repeated Vice President Mike Pence's announcement Monday that the Commerce Department will tackle the persistent problem of space debris in orbit around the Earth. Satellite constellations are in development — such as SpaceX's plan to launch 4,425 of its own broadband satellites — which will put thousands of new spacecraft around the Earth, and Ross emphasized the need for "best practice and standards" to be put in place.
"We must establish a plan for space traffic management and coordination," Ross added.