Finance news

The great AI reckoning: how China is flipping the script on US’ new industrial revolution

As the United States marks the 250th anniversary of its founding, it confronts a new world order dominated by its relationship with China. In this wide-ranging series, we examine the pressure points and possibilities in those ties, from hard tech to soft power. Here, Vincent Chow looks at how China challenges core American assumptions about innovation and technology, and the historical stakes of their competition in artificial intelligence. In 1969, the renowned British sinologist Joseph Needham

State-managed equity funds and political risks

I'm actually a fan of ETF's and government equity funds such as. B. the Swedish pension fund. Now that Germany wants to put an admittedly small part of the pension into a fund, I asked myself what kind of dependency we will have on the USA in the future, since Trump has already shown where the journey could go with his “Big Beautiful Bill”. What actually prevents the USA from, e.g. B. threaten Sweden tomorrow in a hypothetical trade dispute,

Trump ally Steve Daines rejects claims of talks with KMT leader

Republican Senator Steve Daines said he did not meet with Cheng Li-wun, the leader of Taiwan’s main opposition Kuomintang party, during her US visit earlier this month despite Cheng’s statements to the contrary, saying she met only with members of his staff. “She met my staff. She did not meet me,” the conservative lawmaker from Montana told the South China Morning Post on Monday. Cheng visited Washington earlier this month as part of a broader effort to strengthen ties with US policymakers...

US State Department green lights possible sale of Hellfire missiles to Singapore

The US State Department has backed a potential sale of AGM-114R Hellfire missiles to Singapore, valued at US$22.3 million, in a deal it said would strengthen the city state’s defences, a key US strategic partner in Asia. The department on Tuesday said the sale would include 67 Hellfire missiles – a type of precision-guided, air-to-ground missile – as well as spare parts and support equipment. Lockheed Martin will be the principal contractor. “This proposed sale will support the foreign policy...

US Crude Oil Inventories Keep Falling As Hormuz Flows Slow To Start

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 6.072 million barrels in the week ending June 26. In the week prior, US crude oil inventories fell by 765,000 barrels. Although commercial crude oil inventories excluding the SPR have been falling rapidly for more than two months, shedding 59.4 million barrels over the last eleven weeks, US crude inventories are only down 8 million barrels so far this year, according to API data, kept in chec

US expected to exit USMCA, starting a decade-long countdown for trade pact

US President Donald Trump’s administration is expected to formally declare on Wednesday that it will not extend the US-Mexico-Canada Agreement on trade, starting a decade-long clock to wind down the 32-year-old North American free-trade zone as the three countries haggle over proposed changes. That declaration will kick off a six-year review session, part of a “sunset clause” negotiated by Trump’s first administration. However, it will do little to alter contentious negotiations over the pact’s.

Blake Lively wants US$8 million from Justin Baldoni over It Ends With Us dispute

Blake Lively is seeking US$8 million in legal costs from actor and director Justin Baldoni after resolving their dispute over the acrimonious production of their 2024 film It Ends With Us. Lively’s lawyers disclosed the amount, covering nearly $7.5 million in lawyers’ fees from two law firms that represented her and about $500,000 in other expenses, in a court filing on Tuesday. Lively and Baldoni settled last month just before a trial was to start in federal court in Manhattan on Lively’s...

+++ Iran War +++: Iran – No further talks with USA before agreements are fulfilled

Netanyahu orders destruction of Hezbollah infrastructure +++ IS spying for Iran: US citizen arrested in Israel +++ Iran announces talks with Qatar about frozen funds +++ The news blog.

Japan backs SoftBank-led AI models with up to $6.2bn in chasing US, China

US tariff refunds set to boost Japan Inc. profits by up to $3bn

UK investors sue Binance and founder Zhao Changpeng for US$200 million

Almost 1,700 British ⁠investors are suing ⁠Binance and founder ⁠Zhao Changpeng for at least £150 million (US$200 million), alleging the crypto trading platform sold them risky, complex derivative products without regulatory authorisation. The claimants, some ‌of whom said they had lost tens of thousands of pounds, allege Binance entities knowingly sold investments such as leveraged products, which can amplify gains or losses, from late 2019 and promoted ⁠them in breach of the Financial Services.

The US Army goes into the breach — without soldiers

The phrase “into the breach,” invokes one of the Army’s most deadly missions. Now, instead of sending soldiers, the Army is experimenting with drones.

Japanese torpedo sends US ship to the ocean floor during Valiant Shield exercise

The USS Juneau was sent to the ocean floor during a multinational SINKEX exercise.

UK may intervene in Paramount’s US$110 billion takeover of Warner Bros Discovery

Britain said on Tuesday it could intervene in Paramount Skydance’s proposed takeover of Warner Bros Discovery, potentially holding up the US$110 billion deal after the US and China gave it the green light. The move could see the deal referred to the UK’s antitrust regulator, which made headlines in 2023 when it blocked Microsoft’s US$69 billion acquisition of Call of Duty maker Activision Blizzard to the fury of the two US companies. It later changed its mind after Microsoft amended its...

US Crude Output Sets New Monthly Production Record

According to monthly data released Tuesday by the U.S. Energy Information Administration (EIA), U.S. crude oil production climbed to a record 13.934 million barrels per day (bpd) in April—the highest monthly production rate ever recorded. The new record surpassed March's 13.718 million bpd by 216,000 bpd, as producers responded to the oil price spike triggered by the Iran war and the closure of the Strait of Hormuz. While oil prices have since retreated as exports from the Persian Gulf gradually

US Birth Law: Supreme Court: US citizenship at birth in the USA

Anyone born in the USA automatically receives citizenship. Trump tried to overturn this practice - but is now failing in the Supreme Court.

Handelsblatt Live: US stock market expert Koch: Indices have had their best quarter in years

The second quarter ends today, Tuesday, and overall it was a strong first half of the year for the Dow Jones, S&P 500 and the Nasdaq. “If you consider how much headwind Wall Street faced, the balance sheet is impressive,” says Markus Koch.

US Supreme Court again rejects cap on political campaign spending limits

The US Supreme Court has again struck down campaign spending limits, this ⁠time rejecting federal restrictions on coordinated spending between political parties and their candidates on free speech grounds. The ruling on Tuesday comes as major Republican committees head towards the November midterm elections with a significant cash advantage over their Democratic counterparts. Siding with Vice-President J.D. Vance and other Republican challengers, the court ruled 6-3 that a cap on the amount of..

Oil Markets Brace for a Summer of Hormuz Volatility

Brent tops $73 as renewed U.S.-Iran strikes keep Hormuz on edge, leaving oil markets vulnerable to sharp summer price swings. Hormuz Plays Red Light, Green Light as Transits Slow Down This Week - Reaching 59 transits, June 24 has marked the highest number of Hormuz crossings since US-Iran MoU was signed, with traffic slowing down following last week’s attack on a cargo ship and weekend strikes on Iranian territory. - This week’s daily transit rates hover around 20-25 ships per day, however nowad

+++ USA +++: Trump announces party conference before midterm elections

Cuba - Talks with the USA have come to a standstill +++ Verdict: US citizenship at birth in the USA +++ US election campaign donations from crypto companies increased +++ The news blog.

Toyota to launch joint venture with US flying car maker Joby Aviation

USA: Supreme Court upholds birthright US citizenship

Children born in the United States will continue to automatically receive U.S. citizenship. For US President Donald Trump, the verdict is another setback.

US Supreme Court upholds state bans on transgender student athletes

The US Supreme Court cleared the way on Tuesday for ⁠states to impose restrictions on transgender student athletes, upholding laws in West Virginia and Idaho banning them from female sports teams. It delivered a major victory to conservatives in one of the country’s most fiercely contested culture-war battles. The justices overturned decisions by lower courts siding with transgender students who challenged the bans in the two states as violating the US Constitution and a federal...

US Supreme Court strikes down Trump birthright citizenship order

In a historic ruling, the US Supreme Court on Tuesday struck down a Trump administration executive order targeting birthright citizenship, preserving a defining principle of what it means to be born an American. The Supreme Court ruled 6-3 in Trump v. Barbara, holding that children born in the United States to undocumented parents or parents on temporary visas are entitled to US citizenship. “Citizenship, then and now, was the right to have rights – to freely participate in our political...

World trade: US lobsters & Co. come to the EU duty-free

Will certain US products be significantly cheaper for consumers in the EU in the future? That will become clear from this Wednesday.

Wall Street: Wall Street opens unchanged - indices are heading for their strongest quarter in years

Technology stocks continue to lead the way on the US stock market. But in the evening, a sporting goods manufacturer could become a yardstick for the global economy.

Nvidia to boost its China robotics team amid emergence of physical AI

US chip giant Nvidia is ramping up a talent drive for its robotics team in China, a market whose vendors account for the lion’s share of global shipments. The Silicon Valley firm is recruiting for more than a dozen roles across Beijing, Shanghai and Shenzhen, according to a post on its official WeChat account on Monday. The positions span four key domains: embodied intelligence, simulation, implementation and solutions. Nvidia said its robotics team planned to build a “leading robotics platform.

US lawmaker Ro Khanna defends calling witness ‘racist’ in explosive China committee clash

Ro Khanna, the ranking member of the US House Select Committee on China, has defended calling a witness “racist” during testimony last week over comments on Chinese-Americans who obtain US citizenship through birthright. The heated exchange took place during a June 25 hearing on economic espionage and subnational influence, where Khanna confronted Michael Lucci, founder of the Texas-based State Armor non-profit organisation, over a controversial social media post published in April. In the post,

Does Gojek co-founder’s guilty verdict test Indonesia’s investor climate?

Indonesia’s former education minister Nadiem Makarim, one of the country’s best-known tech founders, has been sentenced to 10 years in prison after a Jakarta court found him guilty of abusing his authority in a corruption case linked to US$87 million in state losses. The verdict against the Gojek co-founder could unsettle business sentiment and dampen foreign investment appetite in Southeast Asia’s biggest economy, adding to concerns about legal certainty in cases involving government...

Comment: Give the Telekom boss a chance

CEO Höttges wants to merge Telekom with its US subsidiary. A Handelsblatt report about the plans causes the share price to collapse. That's excessive.