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The US Justice Department accuses TikTok of gathering user data on sensitive topics like abortion and gun control, transferring it to ByteDance in China. Concerns arise over China potentially manipulating content to disrupt US democracy. The government deems TikTok's security measures insufficient and insists a ban wouldn't violate free speech. TikTok's internal tools allegedly allow data gathering on controversial subjects, with lawmakers also expressing worries about anti-Israel content. A looming law could prompt a TikTok ban if ties with ByteDance aren't severed, leading to a potential Supreme Court battle.

Typhoon Gaemi wreaked havoc across Asia, leading to an oil spill disaster near Manila and causing severe damage in Taiwan and China. The storm claimed lives, sank ships, and disrupted flights, with over 290,000 people evacuated in China. Heavy rainfall and floods prompted cancellations and suspensions of transportation services, with significant impacts on air travel. The aftermath of Gaemi left a grim scene of destruction, emphasizing the urgent need for disaster preparedness and response in the region.

Ursula von der Leyen, the President of the European Commission, has called for a 'strong Europe' in the face of fear and uncertainty. She pledged to fight with democratic forces in the European Parliament and criticized Hungarian Prime Minister Viktor Orban's Moscow visit, calling it an 'appeasement mission.' Von der Leyen also emphasized the need for a 'true European Union of defense' to counter the Russian aggression in Ukraine. While NATO remains the pillar of European defense, she stressed the importance of investing more in EU security. Von der Leyen's re-election reflects the ability of Europe's major parties to prevent chaos. She also expressed her intention to address the addictive design of social media platforms, announcing an action plan against cyberbullying and online child abuse. Various political groups, including the Socialists & Democrats and the Renew faction, are advocating for legislation to tackle these issues. The European Commission has already initiated proceedings against TikTok for its addictive design. Von der Leyen's commitment to supporting the interface between science, technology, and industry, particularly in genomics, has been praised by the European Association of Research and Technology Organizations. Additionally, she plans to fully implement the Cancer Plan, present action plans for cardiovascular diseases and mental health, and intensify work in health prevention.

Elon Musk, the tech billionaire, has pledged to donate $45 million per month to a new fund aimed at supporting Donald Trump's reelection campaign, according to reports. The fund, called America PAC, will focus on voter registration, early voting, and mail-in voting in swing states. Musk is one of several major donors to the fund, which also includes Palantir co-founder Joe Lonsdale, former US ambassador to Canada Kelly Craft, and crypto investors Tyler and Cameron Winklevoss. Musk recently announced his full support for Trump and hopes for his quick recovery after narrowly escaping an assassination attempt during a campaign event in Pennsylvania. Despite individual campaign donations being limited to $3,300 per person, loopholes in the campaign finance system allow large donors to contribute to supporting funds for candidates.

Following a liquid oxygen leak and 'engine RUD' during a Starlink satellite launch, the FAA has grounded SpaceX's Falcon 9 rocket for investigation. With over 340 successful missions, this setback impacts planned launches for various customers, including Starlink and NASA. The failure is deemed 'catastrophic' by experts due to the limited alternatives available in the space industry. The loss of most Starlink satellites adds to the repercussions of the failed mission, emphasizing the critical need for a prompt resolution to resume Falcon 9 operations. Elon Musk's ambitious space endeavors now face a challenging hurdle, highlighting the complexities and risks involved in space exploration and satellite deployment.

China's recent economic performance presents a dual narrative with a surge in exports by 8.6 percent signaling positive growth potential, while a worrying 2.3 percent decline in imports underscores a concerning consumer downturn domestically. This contrasting trend highlights the nation's heavy reliance on foreign markets, especially in the face of a slowing US economy and escalating trade tensions. With a targeted 5 percent economic growth for the year, China faces a tough battle ahead amidst uncertainties in global trade dynamics and internal demand struggles. The record trade surplus of $99 billion in June, fueled by a rush from foreign importers to avoid tariffs, amplifies the urgent need for economic reforms to address structural challenges, declining business profitability, and mounting pressures on the private sector. As China navigates these complexities, a critical review of its economic policies and strategic actions becomes imperative to steer the economy towards sustainable and balanced growth.

The German federal government, in collaboration with mobile network operators, has finalized an agreement to gradually eliminate Chinese 5G technology, particularly from providers like Huawei, by 2029. This decision entails the removal of critical components of Chinese origin from core networks by 2026 and the subsequent elimination of Chinese software from antenna and access networks. Despite initial resistance and criticism, the ban on Huawei and ZTE components in the 5G network aims to bolster national security and enhance the resilience of the telecommunications infrastructure. The move reflects a broader trend in Europe to safeguard critical networks, with Germany following suit in response to security concerns. While some stakeholders view the transition timelines as lengthy, the phased approach signals a strategic shift towards a more secure and domestically controlled 5G ecosystem. The decision has already prompted reactions from industry players and political figures, showcasing a mix of support and reservations regarding the implementation details.

AMD's recent acquisition of Finnish startup Silo AI for $665 million marks a strategic move to bolster its AI chip capabilities and compete with industry leader Nvidia. The integration of Silo AI's team of over 300 AI experts will not only enhance AMD's AI models but also strengthen its software development capabilities. The acquisition signifies AMD's commitment to advancing its AI strategy and offering tailored solutions for global customers. This move is part of a larger trend in the AI hardware market, where both AMD and Nvidia are racing to develop cutting-edge AI solutions and close the gap in AI technology.

Amid a trade dispute, China has launched investigations against the EU over tariffs on electric cars, mirroring EU practices. Sectors under scrutiny include railways, solar, wind power, and security equipment, with a deadline set for mid-April 2025. The probe follows complaints from Chinese businesses about trade barriers in the EU, highlighting allegations of unfair practices on both sides. The escalation in the trade conflict poses challenges as EU nations rely on Chinese goods but also decry state subsidies in China. The EU Commission's tariffs on Chinese electric vehicles may prompt Chinese automakers to shift production to the EU, sparking mixed reactions within EU member states, particularly Germany.

Chinese electric vehicle giant BYD is making bold moves with a $1 billion investment to open an EV factory in Turkey, positioning itself to compete with European and U.S. carmakers. By avoiding steep tariffs in Turkey and establishing a significant production capacity in Europe, BYD aims to strengthen its presence in the region. These strategic decisions come amidst escalating trade tensions between China and the West, with accusations of unfair subsidies to the Chinese EV industry. Additionally, BYD's recent stake acquisition in Thailand and the establishment of a local factory reflect its broader strategy to target markets in Southeast Asia, the Middle East, and Africa for growth opportunities while navigating trade challenges in the US and EU.

The rise of artificial intelligence (AI) has propelled tech giants like Nvidia, Microsoft, and Alphabet to new heights, with Nvidia's stock value tripling in a year and becoming the most valuable company globally. This surge isn't exclusive to Nvidia, as companies like ASML and TSMC have also reaped benefits from the AI wave. However, experts like Flavio Muñoz and David Azcona caution against a potential bubble similar to the dot-com era's Cisco bust. Amidst this, a multitude of companies, including AMD, Qualcomm, and Cisco, are actively engaged in the AI ecosystem, alongside specialized AI funds and ETFs. While tech giants are betting over $1 trillion on AI infrastructure, concerns linger over the profitability and sustainability of such investments, especially with challenges like power shortages and chip limitations posing potential hurdles. Despite the optimism surrounding AI's productivity potential, there is a fine line between embracing the AI euphoria and heeding the warnings of a looming bubble in the tech market.

The European Union has taken a firm stance against Chinese electric vehicle manufacturers by implementing provisional tariffs to counter alleged unfair subsidies distorting trade. The move, which affects prominent players like BYD and Geely, aims to protect EU automakers such as BMW and Volvo. Despite negotiations at the highest levels, no compromises have been reached, with the punitive tariffs set to be finalized by November. As tensions escalate, China has responded with its own investigations into EU imports, hinting at a potential trade war. Amid the discord, Chinese EV makers are exploring alternative markets in Africa to bypass EU and US tariff barriers.

Despite the European Union's imposition of punitive tariffs on Chinese electric vehicles, BYD, a prominent Chinese automaker, remains undeterred as it forges ahead with its expansion plans in Europe. The company has strategically partnered with the French leasing firm Ayvens to lease electric vehicles to corporate clients, aiming to bolster its sales in the European market, particularly focusing on the fleet segment. While the EU tariffs have drawn criticism from both the Chinese government and the German automotive industry, they have prompted Chinese EV manufacturers like BYD to pivot towards emerging markets like Africa. This shift is seen as a response to the temporary setback caused by the tariffs and anti-subsidy investigations in the EU and the US. Despite these challenges, BYD has recently inaugurated its first electric vehicle plant in Thailand, signaling its commitment to expanding its presence in Southeast Asia. As China demands concessions from the EU in the ongoing trade dispute over electric vehicles, BYD's resilience and strategic moves showcase its determination to overcome trade hurdles and establish a firm foothold in the global electric vehicle market.

The rapid rise in technology company valuations related to artificial intelligence is fueling concerns of a potential repeat of the dotcom bubble. OpenAI's valuation tripled in under a year, reaching $80 billion, while Nvidia became the first trillion-dollar chip manufacturer, largely due to its AI chip dominance. Palantir's Peter Thiel worries about Nvidia's monopolistic hold on AI profits, drawing parallels to the dotcom bubble era. Venture capital funding hit a 2-year high at $55.6 billion in Q2, driven by significant investments in AI firms like xAI and CoreWeave, showcasing investors' enthusiasm for AI technologies. Analysts have reset Nvidia's stock target after its trillion-dollar market gain, with a positive outlook fueled by the launch of the new Blackwell AI processors, securing a substantial market share.

The EU Commission has granted approval for Lufthansa to enter and acquire a portion of ITA Airways, the Italian state airline. Lufthansa intends to start with a 41 percent stake in ITA, with plans for a potential full takeover later. However, this acquisition is subject to specific conditions imposed by the EU Commission to uphold competition standards, including divesting take-off and landing rights in Milan-Linate and supporting new competitors in the market. Lufthansa's expansion into Italy through this deal is seen as a strategic move to access the lucrative Italian aviation sector and strengthen its presence in key markets. The approval signals a significant step for Lufthansa, with the company's CEO aiming to boost connections from Rome to Africa and Latin America, potentially enhancing ITA's profitability and fostering growth opportunities in the region.

Tesla faced a decline in production and deliveries for the second consecutive quarter, reflecting ongoing demand challenges amidst increasing competition from traditional automakers in the electric vehicle sector. Despite a drop in deliveries compared to the previous year, Tesla's Q2 figures surpassed Wall Street forecasts, leading to a stock price increase. While Tesla remains the top pure EV maker globally, Chinese manufacturers like BYD are closing in with more affordable models. In the US, new-vehicle sales in Q2 barely rose as high prices deterred buyers, prompting expectations of price drops and potential interest-rate cuts to stimulate the market.