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22. Juli 2024 um 23:55

Hunter Biden Drops Lawsuit Against Fox News Over Explicit Images

Hunter Biden, the son of US President Joe Biden, has decided to drop his lawsuit against Fox News concerning the publication of explicit images in the streaming series 'The Trial of Hunter Biden'. The series, which included nude and sex act images, was perceived to violate New York's revenge porn law. Fox News countered the lawsuit, labeling it as 'politically motivated' and lacking in justification. Following pressure from Biden's legal team, the series was promptly removed from Fox Nation's streaming platform. Curiously, the lawsuit withdrawal coincided with President Biden's withdrawal from the 2024 White House race. Despite this development, Biden's lawyer has yet to provide any commentary on the dismissal.
22. Juli 2024 um 23:55

Nvidia's Strategic Move: Developing China-Version AI Chips to Navigate Restrictions

In response to increasing US export restrictions, Nvidia collaborates with Inspur to create a China-specific AI chip, slated for a Q2 2025 release. Facing competition from Huawei and Tencent, Nvidia's China revenue share dropped from 26% to 17%. The upcoming B20 chip is a revised model to comply with regulations and will offer reduced power and precision. Despite challenges, Nvidia remains dedicated to the Chinese market, essential to its global presence.
22. Juli 2024 um 19:55

Secret Service Director Testifies in US Congress on Attack on Trump

Secret Service Director Kimberly Cheatle testifies in the US Congress about the security lapse during the attack on former President Donald Trump. The Secret Service is under pressure after the assassination attempt, where the shooter was able to position himself only 150 meters away from Trump. Cheatle admits to the agency's failure in protecting Trump, who was shot in the ear. The incident has sparked calls for Cheatle's resignation and demands for improved security measures. The hearing, attended by lawmakers, highlights concerns over the agency's failures and the need to prevent future security lapses and attacks. The Secret Service's role in protecting current and former presidents is being scrutinized, and investigations into the incident are ongoing. Cheatle's future as the director of the Secret Service is uncertain, and gun safety legislation is unlikely to advance despite lawmakers' concerns. The attack resulted in the death of one person and injuries to others. Revealing the extent of the agency's failures, Cheatle takes responsibility and faces intense questioning during the hearing.
22. Juli 2024 um 14:59

Taiwan's Han Kuang War Games: Assessing Military Capacity and Defending Against Chinese Invasion

Taiwan's Han Kuang war games assess the military's capacity to tackle a possible attack from the People's Liberation Army (PLA) through live-fire drills on outlying islands. The exercises showcase the use of fighter jets, anti-submarine, and early warning aircraft, as well as new 'carrier killer' corvettes. The drills focus on real-life combat scenarios, troop response, infrastructure protection, and information systems. Coinciding with the Wan An air raid drills, this is the first Han Kuang under the leadership of William Lai Ching-te, who has been branded by Beijing as an 'obstinate separatist'. Taiwan holds these annual exercises to strengthen its defense capabilities against a potential invasion from China, which considers Taiwan as a part of its territory.
22. Juli 2024 um 14:59

Small businesses struggle with global tech outages caused by CrowdStrike

Small businesses struggle with global tech outages caused by CrowdStrike
Small business owners like Tsvetta Kaleynska, Chris Seabrook, and Chris Delmond are grappling with tech outages caused by CrowdStrike, resulting in difficulties paying staff, accessing systems, and processing payments. While major firms like Fortune 500 receive support, smaller firms like RILA Global Consulting, Telapsychiatry, and FMI lack resources. The outage has disrupted operations, highlighting the fragility of technology. Businesses are trying to adapt with workarounds, but financial losses and productivity impacts are looming. The global fallout from the CrowdStrike outage includes over 2,000 flight cancellations, with the hardest-hit region being Australia. The outage has cost the economy tens of billions of dollars, prompting insurance claims. Larger firms may have a chance to recoup losses, but smaller firms face obstacles such as deductibles and waiting periods. CrowdStrike's stock has fallen, while competitors like Palo Alto Networks and SentinelOne have gained. China, due to its cybersecurity self-reliance, avoided disruption caused by the faulty software update, emphasizing the need for redundant systems. Hong Kong's cybersecurity agency warns of criminals exploiting the outage through phishing attacks.
22. Juli 2024 um 14:59

Developments in AI Chip Stocks: Taiwan Semiconductor, Nvidia, AMD, Alibaba, Chinese EV Stocks, and Chip Equipment Companies

Last week, stocks of Taiwan Semiconductor, Nvidia, and AMD fell due to various factors such as Biden's withdrawal from the 2024 race, U.S. sanctions on China's semiconductor industry, and Trump's suggestion that Taiwan should compensate the U.S. for defense. Nvidia is developing a new AI chip 'B20' to meet U.S. export restrictions for China, while China lowered key interest rates, benefiting the AI chip market. However, China faces economic challenges, including weak growth and deflation. Chinese stocks like Alibaba, Baidu, JD.com, PDD, and Bilibili also experienced gains and losses. Israeli chip inspection firms Camtek and Nova saw stock declines amid US-China tensions, while Tower Semiconductor was less affected. Chinese EV stocks Nio, Xpeng, and Li Auto saw gains. Nvidia is also preparing a China-compatible version of its new Blackwell AI chip series with partner Inspur.
22. Juli 2024 um 14:59

China's Housing Sector Faces Challenges Despite Possible Rescue Measures

China's housing sector is facing ongoing challenges despite possible rescue measures. The sector has implemented reforms including changes in financing, presale, and property tax. Additionally, 300 billion yuan has been allocated to address excess inventory. However, weak demand, falling prices, and a 4.7% Q2 GDP growth, along with Goldman's GDP contribution cut, indicate the difficulties the sector is facing. The impact of these challenges on the real economy may take years to fully manifest. China's central bank has also taken measures to combat the economic slowdown by cutting key rates to record lows. However, these monetary policies alone may not be sufficient to address the crisis in the housing sector. The sector's struggles are further exacerbated by high levels of debt in local governments and the fact that the previous construction boom was fueled by borrowing. In addition, China's Third Plenum has announced reforms aimed at reducing systemic risks related to real estate, local debt, and financial issues. However, experts believe that these measures are unlikely to fully solve China's entrenched economic challenges. The country's large production capacity, weak domestic demand, and rising global protectionism also pose additional obstacles to economic recovery. China's rural land reform, on the other hand, is seen as a potential solution to address the rural-urban income gap and support the goal of common prosperity. The reform allows farmers to commercially utilize their homes through renting, shareholding, and cooperation, which helps in boosting their incomes. It also aims to integrate migrant workers by safeguarding their rural property rights. The implementation of the reform will require legislation to break down restrictions on using rural property as collateral for loans and allow commercial use of homes owned by village collectives to support urbanization.
22. Juli 2024 um 14:59

Foreign Minister Kuleba travels to China for talks on Ukraine war

Ukraine's Foreign Minister Dmytro Kuleba is visiting China to discuss the possibility of ending the Russian aggression against Ukraine. The talks will focus on finding ways to stop the Russian aggression and the potential role of China in achieving a sustainable and just peace. China, a close political and economic partner of Russia, portrays itself as a neutral party in the Ukraine war. However, Western allies of Ukraine accuse China of not condemning the Russian aggression and continuing to supply Russia with goods that can be used for both civilian and military purposes. Chinese President Xi Jinping recently called for direct peace negotiations between Kyiv and Moscow and for the international community to support a ceasefire. This visit follows China's release of a Twelve-Point Plan in February 2023 to end the Ukraine war, which was criticized by Western states for allowing Russia to retain control over occupied Ukrainian territory. Minister Kuleba's visit to China is expected to last until Thursday.
22. Juli 2024 um 09:00

New HIV Infections Decline Globally, But Challenges Remain

According to a UN report, global new HIV infections have declined, but have risen in eastern Europe, central Asia, the Middle East, and north Africa. Marginalized groups such as sex workers, transgender women, and gay men face discriminatory laws that limit their access to care. Despite progress, young women in sub-Saharan Africa remain vulnerable. While new long-acting HIV treatments are available in wealthy countries, they are not yet accessible in developing nations. Achieving the goal of ending AIDS by 2030 requires protecting human rights, addressing the debt crisis, increasing aid, expanding access to new treatments, and reducing inequalities. Challenges that remain include the criminalization of high-risk populations, stigma and discrimination, and limited access to resources.
22. Juli 2024 um 05:50

Stock Market Today: Asian shares fall after Wall St ends worst week; Biden withdraw from 2024 race

Stock Market Today: Asian shares fall after Wall St ends worst week; Biden withdraw from 2024 race
Asian stocks fell after Biden's withdrawal from the 2024 race, while China cut rates and a global tech outage affected flights, banks, and healthcare. CrowdStrike was blamed for the tech outage, but rivals gained. US futures remained flat, while oil prices rose. The Nikkei was down 1.3%, the Hang Seng was up 0.8%, and the Shanghai was down 0.7%. Meanwhile, the dollar edged lower following Biden's exit, and investors assessed the impact of his departure and the endorsement of Vice President Kamala Harris. Trump's comments on Taiwan rattled global markets, leading to a slump in tech stocks, including Taiwan Semiconductor, ASML, Nvidia, AMD, and Micron. The S&P 500 and Dow also indicated a decline. Johnson & Johnson's earnings beat expectations, but the company trimmed its profit forecast. The stock market faced a summer slump as the tech rally faded, and political risks rose.
22. Juli 2024 um 05:50

China and US Consider Rate Cuts to Boost Economy

China's central bank has lowered key interest rates in an effort to support its struggling economy, with further cuts expected as the US Federal Reserve enters a rate cut cycle. The move aims to encourage banks to provide more loans and tackle issues such as a weak real estate sector, low consumer spending, high youth unemployment, and geopolitical tensions. Meanwhile, in the US, former Fed vice-chair Clarida predicts three rate cuts this year as inflation cools, potentially attracting investors with attractive fixed-income returns and reduced currency hedging costs. However, unexpected factors like inflation, economic slowdowns, or geopolitical risks could influence the rate cuts. In the UK, the property market is showing signs of growth as buyers anticipate interest rate cuts and lower mortgage rates. This has led to increased interest from Hong Kong and mainland Chinese buyers, although new tax measures and non-domiciled tax schemes may impact investors. Other factors influencing the market include inflation, home prices, housing demand, and potential political changes such as the Labour Party's proposed tax on private school fees.
21. Juli 2024 um 23:55

China's Economy: Strengthening Private Enterprises

China aims to boost the economy through reforms targeting private enterprises. A package of measures includes reforms in financing, taxes, land, and housing. The Central Committee and Communist Party are driving these plans forward, with a focus on national security and key areas. Despite a 4.7% GDP growth in the last quarter, the details of implementation and goals remain unclear and partially contradictory. The promotion of jobs for youth and improvement of living standards for seniors are also key objectives. The article highlights the need for a balance between national security concerns and economic considerations, as well as the importance of implementing immediate reforms to increase productivity and GDP growth. Fiscal reform and liberalizing the hukou system are suggested as possible solutions. Rebalancing regional investment allocation and allowing market forces to determine resource allocation are also discussed.
21. Juli 2024 um 14:59

Philippines and China Reach Agreement After Confrontations in the South China Sea

The Philippines and China have reached a preliminary agreement to supply Filipino troops on the Second Thomas Shoal in the South China Sea, following a series of confrontations between the two countries. The agreement aims to ease tensions and establish a mutually acceptable arrangement. China claims almost the entire South China Sea, but other countries including the Philippines, Brunei, Indonesia, Malaysia, and Vietnam also have territorial claims in the region. The Permanent Court of Arbitration in The Hague declared some of China's claims to be invalid in 2016, but China does not recognize the ruling. In recent months, there have been clashes between Chinese and Philippine vessels, resulting in injuries to Filipino sailors. However, both countries have agreed to de-escalate the tensions. The South China Sea is a highly disputed area due to its rich fishing grounds and gas reserves. The United States and its allies have criticized China's actions and called for the protection of the rule of law and freedom of navigation in the region.
21. Juli 2024 um 05:50

Bridge Collapse and Extreme Weather Leave Death and Destruction in China

Ein eingestürztes Brückenteil ist in Shangluo in der nordchinesischen Provinz Shaanxi am 20. Juli 2024 zu sehen.
At least twelve people have been killed and dozens are missing after a bridge collapsed in China due to heavy rain and flooding. The incident occurred in the city of Shangluo, in the Shaanxi province, southwest of Beijing. Witnesses reported multiple vehicles falling into the river below as the bridge collapsed. In addition to the bridge collapse, severe storms in the Sichuan province have resulted in several deaths and numerous people still missing. These events are the latest in a series of extreme weather occurrences in China this summer, with the east and south experiencing heavy rain and floods, and the north suffering from heatwaves. Researchers attribute the increasing frequency and intensity of extreme weather events in China to human-induced climate change, with the country being the world's largest emitter of greenhouse gases. Chinese President Xi Jinping has called for comprehensive rescue efforts to locate the missing individuals. The situation is being closely monitored, with significant resources being allocated to search and rescue operations, including the use of drones and boats.
20. Juli 2024 um 14:59

USA: Iran 'one or two weeks' away from fissile material for nuclear weapon

The US Secretary of State Antony Blinken has warned that Iran is just 'one or two weeks' away from having enough fissile material to build a nuclear weapon. Blinken stated that the withdrawal from the nuclear agreement has significantly shortened the timeline for Iran to acquire the capability to produce this material. He emphasized that while Iran has not yet developed nuclear weapons, the current situation is concerning and closely monitored by the US government. The US continues to prefer a diplomatic approach to prevent Iran from possessing nuclear weapons. The 2015 nuclear agreement between the US, France, Germany, the UK, Russia, and China aimed to prevent Iran from developing nuclear weapons. However, in 2018, the US unilaterally withdrew from the agreement, leading Iran to gradually disregard its commitments. Efforts to revive the agreement have been unsuccessful so far. The newly elected Iranian President, Ebrahim Raisi, has expressed his intention to revive the nuclear agreement in order to end his country's isolation.
20. Juli 2024 um 14:59

Tragedy Strikes China as Bridge Collapse Claims Lives and Leaves Dozens Missing

A devastating bridge collapse in Shaanxi's Shangluo resulted in 12 fatalities and 31 individuals missing after heavy rain and flash floods led to 17 cars and 8 trucks plunging into the river. President Xi Jinping has instructed rescue operations. Furthermore, flooding and mudslides ravaged Baoji city, Gansu, Henan, and Sichuan, causing 2 deaths and leaving 7 people missing. These tragic occurrences are increasingly associated with climate change, following a May incident where a highway collapse claimed 48 lives.
20. Juli 2024 um 09:00

The Brief – No time for a honeymoon period this summer

European leaders face a packed summer of summits, with key challenges including maintaining EU unity on Ukraine support, addressing Trump 2.0 and US isolationism, reining in Viktor Orbán's controversial diplomacy, and facing rocky EU-China ties under Ursula von der Leyen's hawkish leadership. Von der Leyen is focused on de-risking from Beijing and bolstering ties with Indo-Pacific allies. However, obstacles such as the American presidential election and member states' resistance to economic security strategy may hinder her plans. The EU's most powerful members face political vulnerability, leaving a power void for the European Commission to fill. The appointment of a college of commissioners and the upcoming vote on permanent duties on Chinese-made electric vehicles will shape the EU-China relationship for the next five years. Europe's shift to the right under von der Leyen's re-election consolidates anti-immigration policies and poses challenges for progressive forces.
20. Juli 2024 um 09:00

Tragedy Strikes as Bridge Collapses in China Amid Severe Weather

In a devastating incident, a bridge collapse in Shangluo, Shaanxi, China resulted in the tragic deaths of eleven individuals following heavy rains and flooding. The extreme weather conditions in China this summer, characterized by heavy rain in the east and south, and heatwaves in the north, highlight the impact of human-induced climate change. With China being the world's leading emitter of greenhouse gases, the link between such weather events and climatic shifts is evident. The severity and frequency of extreme weather events are on the rise due to these factors. The collapse of the highway bridge in Shangluo serves as a grim reminder of the vulnerability of infrastructure amidst changing climatic patterns. Efforts for rescue and recovery have been intensified, emphasizing the urgent need for preparedness in the face of escalating climate challenges.
20. Juli 2024 um 05:50

Trump's Party Conference Speech: Calls for Reconciliation but Strong Criticism of Biden

Donald Trump & Vice presidential candidate J.D. Vance, July 16, 2024
In his party conference speech, former President Donald Trump struck a partly conciliatory tone, urging unity in the US while also launching sharp attacks on President Joe Biden. Trump detailed the assassination attempt he narrowly survived and expressed his desire to be a president for all of America. However, as his speech progressed, he returned to his usual hard rhetoric, criticizing Biden for the damage he claims he has caused to the country. Trump repeated his unfounded claim that the 2020 election was stolen from him and referred to himself as a victim of a 'witch hunt' regarding ongoing legal proceedings against him. He blamed Biden for inflation, uncontrolled immigration, and international conflicts, including the war in Ukraine, promising to end these crises. Trump also focused on his usual tirade against irregular migration, vowing to build a continuous border wall with Mexico. The speech concluded with Trump's family joining him on stage, including his previously reclusive wife Melania. Meanwhile, as the Republican convention took place, doubts grew within the Democratic Party about Biden's fitness for a second term, with reports suggesting he may consider withdrawing from the presidential race.
19. Juli 2024 um 23:55

Trump's Promise to End International Crises: Key Messages

In his speech at the Republican Party convention, former US President Donald Trump pledged to end every international crisis if he returned to the White House. He blamed the current government for conflicts around the world and vowed to restore peace, stability, and harmony globally. Trump also expressed his intention to build a missile defense system similar to Israel's Iron Dome. However, he did not provide details on how he would achieve these goals. Trump's remarks have raised questions about his strategy and the potential consequences. Critics argue that his violent rhetoric and populist approach could undermine the democratic process and create divisions within the US. They emphasize the importance of saving the American institution and restoring social and intellectual peace. Furthermore, Trump's statements have sparked concerns among smaller states and allies who fear being sacrificed for a grand bargain with China and Russia. This could lead to chaos and prompt countries to seek their own deals, potentially destabilizing regions like Asia. The situation in Taiwan exemplifies the complex dynamics at play, where fears of abandonment by the US have prompted some to consider direct deals with China. Overall, Trump's promises to end international crises have elicited both support and skepticism, highlighting the need for careful diplomacy and a focus on global security.
19. Juli 2024 um 23:55

China's Communist Party Communique Reveals Reform Objectives and Focus on Growth and Risks

China's ruling Communist Party concluded its policy meeting with a communique that highlighted the need to strike a balance between growth and security in the face of uncertainties. The communique outlined a wide range of reform objectives to be completed in the next five years, emphasizing the party's commitment to economic restructuring and long-term governance improvements. While the document acknowledged the challenges China is facing, it also stressed the importance of finishing this year's growth targets and stimulating domestic consumption. The communique called for deepening reforms in various areas, including the economy, rural land, taxation, environmental protection, national security, and cultural development. It also highlighted the significance of science and technology development, supply-side reform, and improving human capital and talent. The communique emphasized the need to maintain market order, correct market failures, control risks, and ensure social stability. Overall, the party's focus remains on managing risks, maintaining stability, and achieving its long-term goals.
19. Juli 2024 um 23:55

Iran Just Weeks Away from Fissile Material for Nuclear Weapon, Warns US

US Secretary of State Antony Blinken has warned that Iran is only 'one or two weeks' away from obtaining enough fissile material to produce a nuclear weapon. The withdrawal of the US from the 2015 nuclear deal has accelerated Iran's progress in its nuclear program. Blinken emphasized that although Iran has not yet developed nuclear weapons, the current situation is concerning. The US government is closely monitoring the developments and remains committed to preventing Iran from acquiring a nuclear weapon. Efforts to revive the nuclear agreement have been unsuccessful, with negotiations stalling since the US withdrawal in 2018. The international community, including the US, France, Germany, the UK, Russia, and China, had signed the agreement with Iran to prevent its development of nuclear weapons. The new Iranian president has expressed a desire to revive the agreement. However, Iran's recent actions, including enriching uranium to 60%, suggest a growing capability to produce fissile material. The US continues to prioritize diplomatic solutions to address the Iranian nuclear threat.
19. Juli 2024 um 19:55

President Lam Takes Over as New Communist Party Leader in Vietnam

Vietnam's powerful Communist Party chief, Nguyen Phu Trong, has died at the age of 80, leaving behind a leadership vacuum. President To Lam has taken over Trong's duties as the interim party leader, while Trong focuses on his medical treatment. Lam, who was appointed as the president in May, will lead the work of the party's Central Committee, Politburo, and Secretariat. The appointment of Lam suggests a potential power shift within the party. Lam is known for his tough stance on human rights organizations and has been involved in anti-corruption efforts. Trong's death comes amid political upheaval in Vietnam, with three top leaders resigning. China mourned Trong's death and praised his role in elevating their ties. The next leadership will be determined at Vietnam's 2026 party congress.
19. Juli 2024 um 14:59

EU and Serbia conclude agreement on lithium mining

Serbia and the EU have reached a deal on lithium extraction in the Jadar Valley, aiming to establish a value chain for e-mobility. Serbia plans to build a battery factory with support from Mercedes, Stellantis, KfW, and EBRD. The mined lithium will cover 17% of European demand. However, the mining project is controversial due to environmental concerns. China had also expressed interest in mining lithium in Serbia. In 2022, the Constitutional Court overturned the halt to the lithium project, despite protests. The project has sparked mass demonstrations in Serbia, with the opposition accusing President Vucic of undermining democracy and having close ties to Russia. Chancellor Scholz has promised Serbia the establishment of a battery factory as well.
19. Juli 2024 um 14:59

Global Electricity Generation: Renewable Energy Set to Surpass Coal by 2025

Global Electricity Generation: Renewable Energy Set to Surpass Coal by 2025
A recent study by the International Energy Agency (IEA) predicts that renewable energy will overtake coal as the largest source of electricity generation by 2025. The growth will be driven primarily by photovoltaic installations, particularly in India, China, and the United States. Despite this shift, coal is expected to remain stable in the years 2022 and 2023. Alongside renewables, other sources such as nuclear power and gas will also contribute to the global electricity mix. The study further reveals that carbon dioxide (CO2) emissions will stagnate in 2022 and 2023, with a slight increase in 2024 and a decrease in 2025. This transition towards renewable energy is partly attributed to the increasing demand for electricity due to heatwaves and the rising use of air conditioning units. The IEA findings emphasize the positive trajectory of renewable energy, signaling a shift in the global energy landscape. As renewable energy becomes the dominant player in electricity generation, it is clear that the world is transitioning towards a more sustainable future.
19. Juli 2024 um 14:59

Trump Vows High Tariffs on China-Made Cars

In his acceptance speech as the Republican presidential nominee, Donald Trump pledged to impose high tariffs on car imports, including those from China, with the aim of revitalizing the US auto manufacturing industry. While he did not repeat his previous promise to impose 60% tariffs on Chinese goods, Trump maintained a tough stance on trade with China. He criticized President Joe Biden's support for electric vehicles, calling them 'green new scams.' Experts suggest that Trump's targeting of specific industries, such as EVs, may have limited impact on China, as the US is a small market for Chinese electric car manufacturers. However, there may still be room for the US and China to address their trade disputes and potentially revive the 2020 Phase 1 trade agreement requiring China to buy an additional $200 billion of American goods and services.
19. Juli 2024 um 14:59

China's Third Plenum: A Balancing Act for Market Reform

Shanghai Financial Center, China
China's recent third plenum saw the political leadership strike a delicate balance between market forces and government intervention. The communique emphasized the need for a 'high-standard socialist market economy' by 2035, setting a deadline for 2029. While the market's role may have been downgraded, the communique addressed crackdowns in tech, education, and finance, as well as growing uncertainty from US-China tensions. However, critics argue that the lack of specific details and policy clarity is disappointing, leaving Western businesses in limbo. Investment banks expect more policy support, particularly in fiscal measures for manufacturing, infrastructure, and trade, as well as market mechanism reforms. The plenum also discussed the creation of a unified national market to boost domestic consumption and counter external challenges. China's tax reform will seek to enhance local government finances, strengthen central government responsibility, and promote stable property market development. Overall, the third plenum reflects a cautious approach to market reform, with further policy details expected at the upcoming Politburo meeting.
19. Juli 2024 um 13:28

Trump's GOP Convention Speech Mixes Unity and Controversy

Donald Trump & Vice presidential candidate J.D. Vance, July 16, 2024
In his speech accepting the GOP nomination, Donald Trump called for unity while launching attacks on his Democratic opponents. The Republican convention featured speakers with conflicting messages, including Vance, Haley, and DeSantis. Trump avoided discussing the 2020 election but criticized the 'fake documents case'. Despite controversies surrounding Trump, including an assassination attempt, criminal indictments, and impeachment, convention speakers attempted to paint a softer image of him. Republicans appear confident heading into the election, while Biden's campaign faces uncertainty. Trump's speech, following an assassination attempt on him, aimed to portray him as a unifier. However, he deviated from the script and criticized Biden, blaming him for inflation, uncontrolled immigration, and the conflict in Ukraine. Trump also promised to end international crises and secure an 'incredible victory' in the election. The Republican convention omitted Trump's election lies at the main stage to avoid extreme positions, but right-wing activists in media row continued to discuss conspiracy theories. The party's strategy to appeal to a wider audience included featuring a diverse lineup of speakers, including Black and brown individuals, to counter accusations of racism. However, Trump's history of anti-Black and xenophobic policies raises questions about the authenticity of these efforts. Undecided voters, like Arnel Ramos, were not swayed by Trump's speech and remained uncertain about their choice in the election.
19. Juli 2024 um 05:50

Netflix gains eight million new subscribers

Netflix has gained eight million new subscribers in the second quarter, surpassing expectations. The company now has a total of 277.7 million subscribers. Netflix also exceeded Wall Street's revenue expectations, reaching $9.56 billion. Additionally, the company reported a net profit of $2.15 billion. This growth comes as Netflix continues to crack down on password sharing, and it has seen increases in previous quarters as well. The streaming service plans to release new games, stream NFL games on Christmas 2024, redesign its interface, and provide more information about its content. The $6.99 monthly ad-supported service is responsible for four million of the new accounts. Netflix has also experienced notable growth in the Asia-Pacific region, adding 2.8 million new accounts, and closed the first half of the year with 17 million new accounts, its best first half since 2020.
19. Juli 2024 um 05:50

US Stocks Tumble as Tech Share Rebound Falters

US Stocks Tumble as Tech Share Rebound Falters
US stocks experienced a significant downturn as the rebound in tech shares faltered. The decline was driven by new trade tensions with China, which caused major indexes to fall, with the energy sector being the only one to advance. The Dow Jones index led the decline, as volatility increased. In Europe, equity markets were mixed, while the European Central Bank kept key rates steady. President Biden announced plans to target companies supplying China with semiconductor technology, putting pressure on Tokyo Electron, ASML, and Taiwan's TSMC. Additionally, speculation about former President Trump's potential 2024 presidential run added to election anxiety. The tech sell-off also impacted Asian markets, with Hong Kong, Australia, South Korea, and Japan all experiencing declines. Despite the overall market decline, Nvidia, AMD, and other chip stocks attempted a rebound after the sell-off. Intel, in particular, saw gains due to its expanding chip fabrication business and the potential for increased domestic chip manufacturing capabilities in the US and Western allies.
18. Juli 2024 um 23:55

Chip Stocks Plummet on Trade Fears and Taiwan Comments

Chip stocks experienced a significant decline, losing $480 billion in value due to concerns over China trade tensions and recent comments made by former President Trump regarding Taiwan. The US is considering tightening export restrictions on advanced semiconductor technology to China, which has contributed to the decline in chip stocks. Major companies such as ASML Holding, Nvidia, AMD, Qualcomm, Micron, Broadcom, and Arm saw their stocks drop by 5-11%. However, some US manufacturers like Intel, GlobalFoundries, and Texas Instruments benefited from the situation. The world's largest contract chipmaker, TSMC, also experienced a 6% fall in stock price due to Trump's Taiwan defense comments. Overall, the chip industry is facing increased uncertainty and potential restrictions that could impact global markets. Investors are closely monitoring the situation and its potential impact on the stock market and semiconductor sector.
18. Juli 2024 um 23:55

Tech Rout Sparks Stock Market Decline Across Major Indices

Tech Rout Sparks Stock Market Decline Across Major Indices
Stock markets faced a significant downturn as the tech rout persisted, causing the Nasdaq, S&P, Dow, and Russell 2000 to plummet. TSMC reported strong earnings and an optimistic outlook, contrasting Nvidia and ASML's sharp declines. The US imposed export restrictions on China, amidst concerns about Biden's COVID-19 response and potential Fed rate cuts. Netflix's Q2 results disappointed, while labor market activity showed signs of cooling. Additionally, Wall Street experienced a tech-driven sell-off, impacting tech and semiconductor stocks, with smaller players like Carvana adjusting. Beyond the tech sector, Domino's missed expansion targets, and Warner Bros Discovery considers a spin-off to boost stock prices. Europe and Asia also witnessed stock losses, with a particular focus on tech underperformance and potential investment opportunities beyond the tech realm. The stock market slump extended to Bitcoin and altcoins, prompted by warnings of an AI bubble risk from Goldman's Covello and Bahnsen Group, and a Lucidworks survey revealing modest returns for AI-related investments, contributing to stock declines in major tech companies.
18. Juli 2024 um 23:55

China's Utilization of Nvidia Chips and US Concerns on AI Technology

Amid China's use of Nvidia chips via Azure and Google clouds, the US is wary of China leveraging US AI technology such as ChatGPT for industrial advancement. With Chinese firms restricted from ChatGPT, they are venturing into developing domestic chatbots to foster a local AI ecosystem. Meanwhile, OpenAI collaborates with Broadcom to engineer a new AI chip, aiming to tackle the scarcity of costly graphic processing units required for advanced AI models. Can China and the US align on the military application of AI? A proposed negotiation strategy suggests emphasizing human involvement in crucial nuclear command processes rather than seeking a comprehensive agreement.
18. Juli 2024 um 19:55

Stock Market Volatility: Tech Stocks Sink as Nasdaq Plunges 2.7%

Stock Market Volatility: Tech Stocks Sink as Nasdaq Plunges 2.7%
In a tumultuous day for the stock market, the Nasdaq suffered its worst decline since 2022, sinking 2.7%. The S&P 500 also fell 1.3%, while the Dow Jones reached a record high. Tech stocks, including Nvidia, took a hit, contributing to the overall market drop. Concerns over US-China relations and potential restrictions on Chinese chip access added to the uncertainty. Meanwhile, TSMC's strong earnings provided a glimmer of hope, signaling a potential AI boom. Other factors impacting the market include Netflix's earnings report, Republican nominee Trump's statements, and President Biden's COVID-19 diagnosis. As the market reacts to these developments, investors are closely watching for any signs of a recovery and keeping an eye on upcoming earnings reports from major tech giants. Overall, the stock market's volatility and the shifting performance of big tech firms are raising concerns and creating a challenging environment for investors.
18. Juli 2024 um 19:55

China's Communist Party Sets Reform Agenda for the Next Five Years

China's ruling Communist Party has concluded its policy meeting, releasing a communique that outlines the reform objectives for the next five years. The party aims to strike a balance between growth and security amidst mounting uncertainties. The communique emphasizes the need for painful economic restructuring and acknowledges the present difficulties facing the country. It sets a clear deadline for the completion of various reforms by 2029 and highlights the importance of science and technology development in achieving economic transition. Additionally, the party vows to deepen reforms in various areas, including the economy, taxation, environmental protection, and national security. The communique also addresses the need to control risks, fight corruption, and improve governance. While the document offers few surprises, it provides insights into the leadership's policy directions and thinking for the coming years. Overall, China's Communist Party remains committed to its reform agenda and maintaining stability amidst internal and external challenges.
18. Juli 2024 um 14:59

Chip Stocks Tumble on Fears of Tighter US Curbs on Sales to China

Reports of looming US export restrictions to China cause chip stocks to plummet, impacting ASML, Nvidia, AMD, Qualcomm, Arm, and TSMC. US chipmakers see a decline in sales to China, while generative AI and hardware drive market rallies. ASML beats Q2 estimates despite the sell-off. TSMC remains dominant in advanced chips for AI, smartphones, and fighter jets. Concerns over potential conflict escalate with Trump's Taiwan comments. Tech stocks make a small comeback after Nasdaq's worst day in 2022, boosted by TSMC's positive results. TSMC's strong earnings and raised 2024 outlook signal confidence in the AI boom. Investors closely watch the US presidential race, with Trump and Biden facing key campaign points and potential impacts on the market. TSMC beats Q2 estimates and raises Q3 guidance, with strong demand for advanced technologies. The company plans to increase capital expenditures, benefiting semiconductor equipment makers like ASML. AI investments contribute to TSMC's earnings surpassing smartphone chip revenue for the first time.
18. Juli 2024 um 09:00

UK Wage Growth Slows, Global Chip Stocks Fall Amid Growing Tensions

UK wage growth slowed, but economists expect a rate cut from the Bank of England. Global chip stocks tumbled due to tighter US export restrictions. Tech-heavy markets like Nasdaq and S&P 500 fell in response. Investors reacted to Trump's comments on Taiwan, causing a slump in semiconductor stocks. Concerns about US policy on Taiwan and enhanced tariffs on China-made goods are growing. Hong Kong and other major Asian markets also declined. The Nasdaq suffered its worst loss since 2022, with chip stocks leading the decline. UK jobs market cooled as wage growth slowed, but unemployment remained steady. Real wage growth reached its highest in over 2.5 years. The Bank of England is considering interest rate cuts. Tech-led stock losses are expected to continue in Europe. TSMC is set to report strong profit despite pressure from Trump's comments.
18. Juli 2024 um 09:00

Largest Stegosaurus Skeleton Sells for $44.6 Million at Auction

The largest and most complete Stegosaurus skeleton, named Apex, was sold at auction for a record-breaking $44.6 million. Sotheby's had expected a sale price of $4-6 million, but the bidding quickly escalated due to numerous telephone bidders. Apex stands over 11 feet tall and is approximately 27 feet long, making it the most complete and well-preserved Stegosaurus specimen of its size. Out of the estimated 319 dinosaur bones, 254 were found and preserved. Stegosaurus, meaning 'roof lizard,' refers to the dinosaur's distinctive, roof-like bone plates. While dinosaur skeletons have been sold in previous years, this sale sets a new record, surpassing the $31.8 million sale of the most complete Tyrannosaurus Rex skeleton, named Stan. The anonymous buyer intends to loan the skeleton to an American museum institution. The sale of scientifically valuable skeletons at auctions is controversial, as museums and research centers struggle to compete with the high auction prices. The discovery of the Apex skeleton in 2022 near Dinosaur Monument in Colorado, close to the Utah border, adds to the growing collection of dinosaur fossils.
18. Juli 2024 um 05:50

Markets Optimistic on Second Trump Term Prospects

Following expectations of a second Trump term, U.S. stocks gain with the Russell 2000 hitting a high. Market anticipates a 50 basis point Fed rate cut and focuses on earnings like UnitedHealth Group's strong performance. Trump's policies and potential running mate choice impact Asian shares and raise Treasury yields. Amidst the uncertainty, tech stocks face a downturn while the Nikkei 225 rises. European markets react cautiously, with gold reaching a record high and oil prices falling. Investors watch for retail sales data and potential Fed actions amidst political shifts.
18. Juli 2024 um 05:50

Hong Kong stocks fall as US chip sale restrictions and China policy changes loom

Hong Kong stocks, particularly in the semiconductor and tech sectors, experienced a decline as investors grew concerned about potential US restrictions on chip sales to China and policy changes in China. TSMC, the world's largest contract chipmaker, saw its stock fall due to Trump's comments, but the company is expanding production. Nongfu Spring, on the other hand, surged following criticism of a Hong Kong consumer report. The chip stock sell-off also impacted other major Asian markets. Analysts predict that the restrictions on chip sales will likely increase, with the potential for Trump to strengthen export controls. The Biden administration's push to onshore chip production has also contributed to the decline in chip stocks, with Intel and GlobalFoundries expected to benefit. Tech stocks slumped on Trump's Taiwan comments and the risk of enhanced tariffs on China-made goods under both Trump and Biden. Overall, the market experienced mixed action, with the Nasdaq suffering its worst loss since December 2022.
17. Juli 2024 um 23:55

USA Announces End of Temporary Pier in Gaza Strip

The US has announced the closure of a temporary aid pier in the Gaza Strip after facing multiple challenges. The pier, which was constructed to deliver much-needed aid to the Palestinian territory, faced damage due to bad weather and was temporarily removed for repairs. Despite the difficulties in distributing the aid and the high cost of the project, the US military considers it a success. The pier delivered nearly 20 million pounds of aid during a period of near-famine in Gaza. However, it also faced criticism for diverting attention from the need to open more border crossings with Israel. In addition, the distribution of aid within Gaza was hindered by insecurity and lawlessness. In light of these challenges, Israel plans to use the Ashdod port and Pier 28 as alternative routes for aid delivery. The closure of the temporary pier comes amidst the ongoing conflict between Israel and Hamas, which was triggered by a major attack by Hamas fighters and other militant Palestinian groups. As a result of the conflict, thousands of people have been killed, and the situation in Gaza remains dire.
17. Juli 2024 um 23:55

Global Chip Stocks Plummet Amid US-China Trade Tensions

Amid escalating US-China trade tensions fueled by Trump's Taiwan comments, global chip stocks have plummeted, shedding $480 billion. Concerns over tighter US restrictions on semiconductor tech exports to China have sent ASML Holding, Nvidia, AMD, Qualcomm, Micron, Broadcom, and Arm stocks tumbling by 5-11%. In contrast, Intel, GlobalFoundries, and Texas Instruments have seen gains as US-based manufacturers. TSMC, the world's largest contract chipmaker, faced a 6% drop following Trump's Taiwan remarks. The Biden administration's limitations on AI processors have impacted Nvidia's China revenue. Analysts predict a rise in restrictions, while emphasizing the importance of stable US-Taiwan relations and defense collaboration to bolster investor confidence and mitigate market volatility.
17. Juli 2024 um 23:55

Chip Manufacturers Under Pressure as Dow Soars and Tech Stocks Stumble

The stock market experienced mixed action as the Dow Jones index rose to a record high while the Nasdaq and S&P 500 fell. Chip manufacturers such as ASML, Nvidia, Micron, Marvell, and the Philadelphia Semiconductor Index faced pressure due to potential trade restrictions for China. Investors are anticipating an interest rate hike in the US and are investing in smaller companies. President Donald Trump's comments about the strength of the dollar unsettled investors, leading to a fall in the dollar index. Oil prices saw an increase. Airline Spirit expects a decline in sales, and pharmaceutical giant Eli Lilly lost ground. However, competitor Roche made progress with a weight loss pill. The tech stock slump, including Nvidia, ASML, and TSMC, was driven by concerns over tighter US curbs on sales to China and Trump's comments about Taiwan. The chip stock sell-off is also attributed to the Biden administration's push to onshore chip production.
17. Juli 2024 um 19:55

Orbán's 'Peace Mission' and its Consequences

Vladimir Putin & Viktor Orban, 5. Juli 2024
Hungarian Prime Minister Viktor Orbán's recent meetings with world leaders, including Donald Trump, Vladimir Putin, and Xi Jinping, have sparked controversy and condemnation. Orbán claims that Trump has 'detailed and well-founded' plans to end the Russia-Ukraine war and is ready to broker peace immediately after the election. However, critics, such as Czech Prime Minister Fiala, argue that Orbán's 'peace mission' only helps Putin and aids the Kremlin's interests. Fiala emphasizes that Europe must take greater responsibility for security and not repeat the mistakes of appeasement in the past. The European Parliament has condemned Orbán's Moscow trip and calls for retaliation, while highlighting Hungary's blockade of aid for Ukraine. Extreme right-wing parties, such as Jordan Bardella's Reagrupamiento Nacional and the European Conservatives and Reformists, oppose the resolution, while other parties, including the Socialists and Democrats, support it. The resolution also mentions Giorgia Meloni, the president of the Council of the EU Charles Michel, Orbán's meetings with Trump, Xi Jinping, and Ursula von der Leyen, and Hungary's EU presidency. The situation has led to boycotts and cancellations of meetings organized by the Hungarian presidency, further exacerbating tensions within the EU.
17. Juli 2024 um 19:55

EU Court Upholds ByteDance as Digital Gatekeeper

In a significant ruling, the EU court dismisses TikTok's lawsuit against the classification of its parent company ByteDance as a digital gatekeeper. Criteria like high market value and a large EU user base solidify ByteDance's status. The court mandates ByteDance to fulfill gatekeeper obligations, allowing the company to challenge the decision before the ECJ. Meanwhile, parallel proceedings are underway for breaches of obligations specifically on TikTok. This decision signals stricter competition rules for TikTok under the Digital Markets Act, with ByteDance being required to adhere to DMA regulations on personalized advertising consent and user privacy. The ruling has been welcomed by the European Consumer Organisation, emphasizing the importance of ByteDance's compliance with DMA regulations. Despite the setback, ByteDance retains the option to contest the decision before the European Court of Justice, hinting at continued legal developments in the digital market landscape.
17. Juli 2024 um 19:55

Global Stock Markets React to Potential US Crackdown on Chipmakers

Global stock markets experienced significant volatility after reports emerged that the US plans to implement stricter export restrictions on chip technology to China. Tech shares tumbled globally, with London FTSE showing a slight increase while Germany DAX and Paris CAC fell. Companies such as Tokyo Electron, Disco, and Lasertec experienced significant drops in their stock prices, as did ASML, Nvidia, and other chipmakers. Taiwan chip stocks also fell following criticism from former President Donald Trump. The yen rallied after reports of potential currency intervention. The US has blocked China's access to advanced chips and has urged its allies to follow suit. China has become ASML's second-largest market as companies rushed to buy equipment before new licensing requirements. China's self-sufficiency in advanced technology was a focus of the Communist Party meeting. Despite expectations of a decline, US retailers' sales held firm, leading many to anticipate rate cuts by the Federal Reserve.
17. Juli 2024 um 19:55

Impact of EU AI Act on Chinese AI Companies

Chinese AI firms are bracing for 20-40% higher costs due to the EU AI Act's stringent data and transparency regulations. Despite shared principles, the EU and China diverge in enforcement and political alignment. Some Asia-Pacific nations like South Korea are adopting laws mirroring the EU's approach. While the EU focuses on user rights, China's AI regulation leans towards state control. Implementing generative AI within China's narrow policy boundaries remains a significant challenge. Meanwhile, China is moving away from a unified national AI legislation, opting for specific policy drafts and aiming for 50 AI standards by 2026. In the UK, King Charles confirms impending AI regulation, differing possibly from the EU's AI Act to concentrate on general-purpose AI. Momentum for legislation in the AI sector is crucial for future developments.
17. Juli 2024 um 15:08

EU Court Confirms Stricter Competition Rules for TikTok

The EU court has confirmed the classification of ByteDance, the parent company of TikTok, as a 'gatekeeper' under the Digital Markets Act. ByteDance's complaints about infringement of rights and unequal treatment were dismissed. The European Court of Justice upheld the European Commission's designation of ByteDance as a gatekeeper, with the European Consumer Organisation welcoming the ruling. ByteDance is obligated to comply with DMA regulations on personalized advertising consent and user privacy. TikTok's rapid establishment as a new market participant was considered, and ByteDance can still challenge the decision before the European Court of Justice. Multiple companies, including Zalando, have expressed their intention to contest the DMA law, with Bytedance's case being one of the first to be heard by the EU court.
17. Juli 2024 um 14:59

Trump Questions US Support for Taiwan and Suggests Payment for Protection

US presidential candidate Donald Trump has raised doubts about the US support for Taiwan and suggested that Taiwan should pay for its protection against China. While Washington does not diplomatically recognize Taiwan, it is a significant arms supplier to the island and recently approved a multi-billion dollar military aid package. Taiwan, which considers itself a separate entity from mainland China, has been steadily increasing its defense budget and is willing to take on more responsibility. The government of Taiwan emphasizes the shared responsibility with the US for maintaining peace and stability in the region. Trump's comments regarding Taiwan have sparked discussions about the complex US-Taiwan defense relationship, which lacks a formal agreement but still obligates the US to assist Taiwan in self-defense. China, which views Taiwan as a renegade province, has been exerting military pressure on the island and is using tactics such as 'grey zone warfare'. The expansion of Taiwanese chip manufacturer TSMC and its dominance in the industry has also been a point of contention between the US and China.
17. Juli 2024 um 14:59

Study: Citizen's Income has Little Impact on Employment of Ukrainian Refugees

According to a study by the Institute for Employment Research (IAB), social transfer payments such as citizen's income have little impact on the employment rate of Ukrainian refugees. Factors such as social networks, English language skills, childcare, and healthcare play a more significant role. Germany's employment rate for Ukrainian refugees is in the middle range at 27%, while Lithuania, Denmark, and Poland have the highest rates. The study also found that the focus on learning the German language hampers employment opportunities. The IAB researcher, Theresa Koch, suggests that comprehensive integration increases the long-term probability of employment. The study highlights the need for a holistic approach to refugee integration, considering various social factors. Since the start of the war, over a million Ukrainians have sought refuge in Germany, with 135,000 being employed in April and 112,000 enrolled in integration courses in June. The German government plans to decrease military aid to Ukraine from €7.48 billion in 2023 to €4 billion in 2025. However, the defense minister is pushing for an additional €6 billion, utilizing interest from Russian assets and G7 funds.
17. Juli 2024 um 14:59

Chip Stocks Tumble on Fears of Tighter US Curbs on Sales to China

Chip stocks, including ASML, Nvidia, AMD, Qualcomm, Arm, and TSMC, experienced a significant decline due to reports of impending US export restrictions to China. This decline in sales to China impacted US chipmakers, while generative AI and hardware drove rallies. Despite the sell-off, ASML managed to beat Q2 estimates. TSMC continued to dominate the market for advanced chips used in AI, smartphones, and fighter jets. Concerns over potential conflict were amplified by President Trump's comments regarding Taiwan. ASML's outlook was clouded by the risk of more severe US curbs, and the company confirmed flat 2023 sales before anticipating strong growth in 2025. The market also saw the slumping of Dow Jones futures and the decline of tech stocks like Apple, Microsoft, Nvidia, and Taiwan Semiconductor Manufacturing. The global chip industry is facing shockwaves due to geopolitical tensions, with TSMC dealing with market volatility and investor anxiety. To mitigate risks, companies like TSMC must diversify supply chains and engage with policymakers. The stability and growth of the semiconductor sector depend on unity and strategic foresight from industry leaders and global stakeholders.
17. Juli 2024 um 14:59

Court dismisses lawsuit: TikTok must comply with stricter EU regulations

The Court of Justice of the European Union has dismissed a lawsuit filed by TikTok, classifying the popular short video app as a 'gatekeeper' and requiring it to comply with stricter EU regulations. This decision is aimed at opening up competition and combating the abuse of market power and hate on the platform. Other major corporations such as Alphabet, Amazon, and Apple are also affected by these regulations. The court ruling is in favor of users, prioritizing their protection and ensuring a fair digital market. ByteDance, the parent company of TikTok, had filed complaints against the designation and alleged unequal treatment, but the court rejected those claims. The ruling confirms the EU's commitment to enforcing stricter competition rules for tech giants. TikTok's rapid rise as a new market player, with its high user numbers and monetization potential, contributed to the court's decision. While TikTok can still appeal the ruling to the European Court of Justice, this dismissal sets a precedent for other digital platforms operating in the EU.
17. Juli 2024 um 14:59

Germany and EU partners increase pressure on Hungary over Ukraine

Vladimir Putin & Viktor Orban, 5. Juli 2024
Germany and other EU member states are putting pressure on Hungary to prioritize Ukraine aid, following Hungarian Prime Minister Viktor Orban's controversial visits to Moscow and China. At a finance ministers meeting in Brussels, most member states called on Hungary to prioritize Ukraine aid, with German Finance Minister Christian Lindner criticising Orban's 'solo efforts'. Hungary's EU presidency has faced a boycott from several countries, with Germany considering sending only lower-ranking officials to Budapest. The European Parliament has also condemned Orban's visits, calling them a violation of EU foreign policy. The European Commission has boycotted informal ministerial meetings organised by Hungary's EU presidency. Despite opposition from Brussels and Washington, Orbán remains determined to pursue his peace mission and has sought closer relations with China. Hungary and China have elevated their bilateral relations to an 'all-weather comprehensive strategic partnership' during Chinese President Xi Jinping's visit to Budapest. Orbán aims to act as a mediator and peacemaker in Eastern Europe and strengthen Eurasian integration between Europe and East Asia.
17. Juli 2024 um 11:55

Inside the Republican National Convention: Unwavering Support for Trump

Donald Trump wurde bei Schießerei auf Wahlkampfveranstaltung in Butler, Pennsylvania, verletzt
The Republican National Convention in Milwaukee provides an inside look at the unwavering support for Donald Trump, despite an assassination attempt on him. Delegates from all over the United States gather to nominate Trump as the party's presidential candidate, showcasing their unity behind the former president. Dressed in MAGA merchandise, they represent the broader Trumpist culture and ideology. The convention is marked by a sense of euphoria and showcases various side events and activities. Despite previous rivalries, Trump receives support even from former opponents like Nikki Haley, highlighting the unified front. The convention also emphasizes hardline stances on illegal immigration, crime, and the Fentanyl crisis. Trump's migration policies take center stage in the Republican Party's platform. While the party deviates from an ultra-conservative stance on abortion, Trump's heroic image, with a raised fist and a partially bloodied face, suggests his resilience and determination to win the elections. The survival and heroic image of Trump raise concerns about the implications for American democracy, drawing parallels to other politicians who have survived attacks, such as Jair Bolsonaro in Brazil.
17. Juli 2024 um 11:55

US-Taiwan Relations and Defense Dynamics Unveiled

Trump's call for Taiwan to pay for defense amid chip dominance sparks discourse. US-Taiwan defense dynamics intricate, with China's military pressure escalating. Tensions rise as US arms sales to Taiwan delayed. Biden's comments unsettle China, engaging in 'grey zone warfare' against Taiwan. China halts talks with US over Taiwan arms sales, citing 'core interests' breach. US legally bound to aid Taiwan's defense. Amidst uncertainties, Taiwan seeks to fortify its self-defense capabilities.
17. Juli 2024 um 11:55

Trump's VP pick and its implications for the EV industry and China

President Trump's choice of JD Vance as his running mate has raised concerns for both the electric vehicle (EV) industry and China. Vance's opposition to EV policies and support for gas-guzzling vehicles could significantly impact the EV industry. This is particularly alarming for Tesla, as Elon Musk's endorsement of Trump has already damaged the company's brand reputation. On the other hand, Vance's hawkish stance on China indicates that a second term for Trump could see a more confrontational approach towards trade with China. This could have significant consequences for China's economy, as a Trump-Vance White House may strengthen tech restrictions and suppress China's growth. The upcoming US election is proving to be a wildcard for the direction of China's economy, with the Third Plenum meeting in Beijing expected to reveal key policy shifts and economic reforms.
17. Juli 2024 um 09:07

Asian Equities Fall as Trade and Geopolitical Concerns Rise

Tokyo Stock Exchange
Asian stocks fell as concerns over trade and geopolitical issues increased with the announcement of Trump's running mate. Hong Kong declined the most, while China stocks remained lower due to tariffs proposed by Trump. On the other hand, Japan saw a rise in stocks as exporters benefited from the decline in the yen. US futures edged higher as traders adjusted to the increased chances of Trump winning the election. China's central bank injected cash to maintain liquidity, and Energy Absolute Pcl's founder and CEO quit over a fraud probe. Trump Media & Technology Group Corp. saw a 31% increase in shares due to rising odds of Trump's victory. Overall, the uncertainty caused by Trump's policies had a significant impact on Asian equities.
17. Juli 2024 um 05:55

Joe Biden's Stance on Gun Control and Campaign Resumption After Trump Shooting

In the aftermath of the recent shooting incident involving an AR-15 rifle targeting Donald Trump, Joe Biden has reentered campaign mode with a renewed advocacy for stricter gun control measures. Biden has specifically called for a ban on assault weapons like the AR-15 and criticized the resistance to gun reforms from conservative Republicans and the gun lobby. Despite the shooting, Trump's supporters remain staunchly against any changes to gun laws, attributing the issue to mental health rather than the availability of assault weapons. The shooter, Thomas Matthew Crooks, is under investigation for domestic terrorism, further fueling the debate on gun control. Biden, in his recent interviews and speeches, not only denounced violence but also resumed his attacks on Trump, emphasizing the importance of Black voters and highlighting his administration's support for historically Black colleges and universities (HBCUs) and Black employment. The push to accelerate Biden's nomination before the convention by Democrats, including the Democratic National Committee, underscores the urgency in solidifying his candidacy. Amidst controversies surrounding the filing date in Ohio and doubts raised during debates, NAACP members like Donna Jackson-Houston and Tony Fields continue to express their support for Biden. As the 2020 campaign progresses, Biden's stance on gun control and his strategy against Trump in light of the recent events will likely remain central themes in the political discourse.
17. Juli 2024 um 00:03

Trump's Arrival in Milwaukee Kicks Off Republican National Convention Amid Tensions and Tragic Incidents

Donald Trump wurde bei Schießerei auf Wahlkampfveranstaltung in Butler, Pennsylvania, verletzt
As the Republican National Convention (RNC) commences in Milwaukee, all eyes turn to the arrival of former President Donald Trump, who stepped in with his newly selected running mate, Senator J.D. Vance of Ohio, just two days after surviving an assassination attempt during a rally in Pennsylvania. The convention sets the stage for intense deliberations as tensions soar following a shooting in proximity to the event site, involving police officers from Columbus, Ohio, and emphasizing the heightened security measures in place with 4,000 officers from various regions present. The convention hall buzzes with vibrant displays of patriotism, with delegates and guests donning red, white, and blue attire, while local high school students contribute by inflating balloons for the concluding day's festivities. Notable figures from the Republican Party, including former rivals like Nikki Haley, Ron DeSantis, and Vivek Ramaswamy, are anticipated to grace the stage, underscoring the evolving landscape within the GOP as prominent past leaders like Bush, Quayle, Cheney, and Romney opt to steer clear of the event, emblematic of Trump's enduring influence and the party's evolutionary trajectory. Milwaukee, a historically Democratic enclave with a Socialist heritage, grapples with the RNC's presence, embodying a complex relationship that intertwines political ideologies and historical voting patterns. The city's Democratic mayor, Cavalier Johnson, presides over a community that heavily favored Biden in the previous election, showcasing the stark contrast between the prevailing political sentiments and the hosting of a Republican gathering. Amidst these dynamics, the RNC in Milwaukee emerges as a significant political juncture, encapsulating a blend of security concerns, political rivalries, and the broader narrative of ideological shifts within the Republican Party.
16. Juli 2024 um 20:12

IMF Improves Eurozone Forecast, but Warns of Inflation and Protectionism

The International Monetary Fund (IMF) has slightly raised its estimate for GDP growth in the euro area in 2024, citing the good performance of the services sector and domestic consumption driven by wage increases. However, the IMF warns of risks such as inflation and protectionism. The organization states that global disinflation is slowing, indicating obstacles along the way. It also highlights the threat of a new protectionist outbreak fueled by this year's super-electoral cycle. While the growth forecast for Spain remains unchanged at 2.4%, expectations for the eurozone and China improve, but deteriorate slightly for the US and Japan. The IMF emphasizes the need to address inflation, which is being slowed down by services inflation and higher commodity prices. It warns that trade tensions and political uncertainty could lead to higher interest rates and cross-border spillover effects. The IMF recommends cautious monetary policies and fiscal adjustments for economies facing inflation risks, while urging progress in the fiscal adjustment process for economies experiencing easing prices. The organization advises countries to revitalize medium-term growth prospects by boosting labor supply and reducing inward-looking trade policies. It also calls for reducing the use of trade-distorting measures and strengthening the multilateral trading system. Germany and the UK face challenges such as industrial weakness and service sector inflation respectively, while Mexico and Argentina experience growth forecast reductions due to inflation and lower demand.
16. Juli 2024 um 20:10

EU Officials Boycott Hungary's Informal Meetings over Diplomatic Push on Ukraine

Vladimir Putin & Viktor Orban, 5. Juli 2024
Hungary's Prime Minister Viktor Orbán's unauthorized meetings with foreign leaders, including Russia's President Vladimir Putin and former US President Donald Trump, to discuss Ukraine have sparked outrage and led to a boycott of Hungary's informal meetings during its EU presidency. European Commission President Ursula von der Leyen and other top officials have decided not to attend these meetings. The EU Council President Michel has publicly criticized Orbán's solo diplomacy on Ukraine, rejecting his claims of a 'pro-war policy'. The EU's 27 member states have expressed consensus in supporting Ukraine, not Orbán's proposals. Legal concerns have also been raised over Hungary's actions, with the EU's legal service stating that they could breach treaties. The boycott by EU officials underscores the growing tensions and disagreement within the European Union regarding Hungary's diplomatic efforts on Ukraine.
16. Juli 2024 um 20:09

Debts, Inflation, Trade War: Trump's Return Would Be a Shock for the Economy

If Donald Trump were to win a second term as President, it would have dire consequences for the economy. Economists fear that Trump's plans, such as a debt explosion and trade war, would cause devastation on a global scale. Trump's first term saw him create trillions of dollars of new debt, primarily through tax cuts for the wealthy. If he extends these tax cuts, it would add even more debt. This would likely lead to a debt crisis and higher interest rates, inflation, and less growth. A second Trump administration could also mean an all-out trade war, with tariffs on all imports to the US and heightened tensions with China. The consequences of this would be far-reaching, with negative impacts on the global economy. Furthermore, Trump's economic agenda includes hollowing out the state and using it as a weapon against his opponents. Overall, a Trump victory would bring radical changes and great surprises for the economy, and not in a good way.
16. Juli 2024 um 20:09

Implications of Judge's Dismissal of Case Against Trump in Document Affair

The recent dismissal of the case against former President Trump in the document affair by Judge Cannon has sparked controversy and legal challenges. Special Counsel Smith's appointment was deemed questionable, leading to doubts about the legality of the investigation. Despite Judge Cannon's ruling on the appointment's constitutionality, previous courts had validated Garland's authority to appoint a special counsel. The decision to dismiss proceedings against Trump over mishandling classified documents has raised concerns about accountability and the rule of law. Trump's plea of not guilty in federal court and ongoing legal battles in New York and Georgia add complexity to the situation. The planned appeal by the Department of Justice signals further legal battles ahead, with potential implications on Trump's election interference case. Judge Cannon's ruling, seen as detrimental to the justice system's integrity, could have far-reaching consequences, including potentially affecting future Supreme Court nominations. The controversy surrounding Trump's immunity as a former president and the allegations of election interference further complicate the legal landscape. The dismissal of the case against Trump highlights the intersection of politics and law, emphasizing the importance of upholding legal standards and accountability in high-profile cases.
16. Juli 2024 um 20:07

US Senator Bob Menendez Convicted of Corruption Scandal

Democratic US Senator Bob Menendez has been convicted of corruption charges, involving his use of political influence in favor of Egypt and Qatar in exchange for bribes and luxury items. The investigation led to the discovery of $500,000 in cash, gold bars, and a luxury car in his possession. Despite pleading not guilty, Menendez was found guilty on all 16 charges, becoming the seventh sitting senator in US history to be convicted of a crime. Senate Majority Leader Chuck Schumer has called for Menendez's resignation. Menendez, who has been serving as a senator for New Jersey since 2006, had previously faced scrutiny over questionable business dealings and luxury trips. Alongside his conviction, two businessmen who had bribed him were also found guilty. The scandal has caused significant political ramifications, with Menendez's future in jeopardy as sentencing approaches, potentially marking the end of his political career.
16. Juli 2024 um 15:06

Rising Toll: Deadly Summer Heatwave Sweeps Western U.S.

Rising Toll: Deadly Summer Heatwave Sweeps Western U.S.
The scorching summer heat has proven fatal across the Western United States, with dozens of deaths suspected to be linked to the extreme temperatures. Santa Clara County, California, reported 19 heat-related deaths, while Oregon confirmed at least 16 victims and Clark County, Nevada, recorded 9 fatalities. Recent record-high temperatures have been recorded in Death Valley, California, Phoenix, Arizona, and Portland, Oregon, exacerbating the already dangerous conditions. Although some counties like Pima, Maricopa, and Clark are improving their tracking of heat-related deaths, there remains inconsistency in counting across different jurisdictions. Shockingly, CDC data from last summer revealed over 2,300 heat-related deaths in the U.S., likely representing only a fraction of the true toll. The rise in heat-related fatalities, with the heatwave pushing temperatures over 40 degrees Celsius, has particularly impacted hikers in national parks, with tragic incidents reported in Canyonlands National Park and Snow Canyon State Park. As extreme heatwaves persist, claiming lives and reaching record temperatures, urgent measures and awareness are crucial to mitigate the escalating impact of the scorching summer heat in the Western United States.
16. Juli 2024 um 09:10

Implications of China's Gloomy Economic Outlook on Global Markets

As China's economic outlook continues to spook investors, Hong Kong stocks faced a decline, with major banks downgrading GDP forecasts, including Barclays, Goldman Sachs, and JPMorgan. This sentiment spread to various sectors, leading to drops in logistics, travel, sportswear, and tech stocks. Concurrently, concerns about China's bond rally sending yields to record lows have policymakers worried about potential disruptions in the economy. The lowered corporate profits for Chinese listed companies in the second straight quarter reflect challenges such as weak consumer spending and insufficient demand, as stimulus efforts struggle to revive the market. The overall impact of China's economic struggles extends globally, with Asian equities falling as Trump-related concerns weigh on markets, and the potential for proposed tariffs to significantly impact China's growth. Amid these developments, a key economic meeting in China aims to address debt reduction and confidence-boosting measures, highlighting the need for coordinated policy actions to stabilize the economy amidst these critical challenges.
16. Juli 2024 um 09:09

Elon Musk Pledges $45 Million Monthly to Support Donald Trump's Re-election Bid

Elon Musk
Tech billionaire Elon Musk has announced his intention to donate $45 million per month to America PAC, a political group supporting Donald Trump's campaign for re-election. The PAC will focus on voter registration, early voting, and mail-in ballots in swing states, which are crucial for determining election outcomes. Musk joins other major donors such as Palantir co-founder Joe Lonsdale, former US ambassador to Canada Kelly Craft, and crypto investors Tyler and Cameron Winklevoss. Musk's endorsement of Trump comes after the former president narrowly escaped an assassination attempt at a campaign event in Pennsylvania. Loopholes in campaign finance regulations allow wealthy individuals to contribute to PACs, supporting candidates beyond the limits of individual donations. This move by Musk, the world's richest person with an estimated net worth of $250 billion, further strengthens Trump's re-election bid.
16. Juli 2024 um 09:07

Criticism of cuts in development aid - concerns from various parties

Criticism continues to mount against the planned cuts in development aid and humanitarian assistance by the federal government. Aid organizations such as the World Hunger Aid and One express concerns about the negative impact these cuts will have on the people in the global South. The Europe Director of One warns that these budget plans will lead to the diminishment of Germany's influence in foreign and development policy, benefiting countries like Russia and China. Criticism also arises from within the Union, with calls for the government to take responsibility in foreign policy and avoid creating a vacuum. The cuts in the development budget, amounting to almost 30% or around three billion euros within a single electoral term, are seen as excessive and could lead to an increase in refugees coming to Germany. The Green Party and the SPD also voice their opposition to these government decisions. The budget draft for 2025, along with a supplementary budget for 2024 and medium-term financial planning up to 2028, will be decided by the cabinet on Wednesday. The planned cuts contradict the original coalition agreement and elicit concerns about the security of Germany and the EU. Aid organizations stress that spending on development aid directly contributes to the external security of the country.
16. Juli 2024 um 09:06

EU Commissioners Boycott Hungarian Council Presidency in Protest of Orbán's Solo Efforts

Vladimir Putin & Viktor Orban, 5. Juli 2024
The decision by EU Commission President Ursula von der Leyen to boycott informal Council meetings in Hungary, which currently holds the Council presidency, has sparked anger in Hungary. The boycott is a reaction to Hungarian Prime Minister Viktor Orbán's solo efforts in Ukraine policy, where he has met with Putin, Xi, and Trump. As a result, several EU countries, including Sweden, Finland, Poland, and the Baltic states, have also announced that they will not participate. The Hungarian government, as well as Minister Janos Boka, have criticized the EU Commission's decision, accusing it of not wanting to cooperate with all institutions and ministers. This boycott marks an unprecedented move by the EU Commission and will impact events planned by Hungary until the end of the year, including a foreign summit on August 28-29. The traditional inaugural visit to the Hungarian Presidency by the EC delegation has also been canceled.
16. Juli 2024 um 09:04

China's Economic Slowdown Amidst Housing Crisis and Policy Reforms

Shanghai Financial Center, China
China's economy has faced a significant slowdown as the real estate crash has hindered consumer and company spending, despite a surge in exports. The recent Third Plenum, attended by Xi Jinping and Communist Party officials, aimed to set a new economic course to address the country's growth and property challenges. With economic growth at 4.7% in Q2 falling below forecasts, issues such as weak consumer sectors and job insecurity have further exacerbated the situation. Amidst these challenges, US executives are closely monitoring the outcomes of the Third Plenum for valuable insights into China's economic direction.
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