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Read previewUK drones given to Ukraine have been used to take out more than $1.2 billion worth of Russian military gear, according to the UK's defense secretary, citing Ukrainian figures. "Our Ukrainian partners conservatively estimate that UK drones have destroyed over £1 billion worth of Russian hardware," Grant Shapps told a delegation of Ukrainian ministers at a defense forum in London on Monday, per The Telegraph. Related storiesHe also mentioned one-way attack drones that are "making their mark," and drones that guide artillery and missiles toward Russian targets. In March, the UK's Ministry of Defence announced it would deliver an additional 10,000 drones to Ukraine, as part of its latest $413 million military aid package. In February, Ukraine announced it was setting up a separate branch of its military focused purely on drone warfare.
Persons: , Grant Shapps, Shapps, DragonFire — Organizations: Service, Business, UK's Ministry of Defence, UK Ministry of Defence Locations: Ukraine, London, Russia, Crimea, Dnipro
U.S. officials have said that AI systems could pose national security risks, for example by making it easier to engineer chemical, biological and nuclear weapons. The Biden administration in October required the makers of the largest AI systems to share details about them with the U.S. government. Microsoft executives said the agreement has safeguards to protect Microsoft's technology and prevent it from being used by Chinese entities to train AI systems. The Commerce Department already requires notifications and, in several regions, export licenses to send AI chips abroad. Microsoft executives said the company welcomes a debate on a new legal framework governing the transfer of AI technology and that the deal with G42 requires the UAE firm to comply with U.S. regulations as they evolve.
Persons: Brad Smith, Smith, Biden, Michael McCaul, we're Organizations: Microsoft, United Arab, Reuters, U.S ., U.S . Department of Commerce, U.S . House, Commerce Department Locations: Madrid, Spain, United Arab Emirates, U.S, UAE
A logo hangs on the building of the Beijing branch of Semiconductor Manufacturing International Corporation (SMIC) on December 4, 2020 in Beijing, China. China's largest chipmaker SMIC is now the world's third-largest foundry in terms of revenue in the first quarter, according to Counterpoint Research. State-backed SMIC, or Semiconductor Manufacturing International Co. , held a market share of 6% in the first quarter— up from 5% last year, the report showed. This places SMIC behind only Taiwan Semiconductor Manufacturing Company and South Korea's Samsung Foundry which held 62% and 13% of market share in the first quarter respectively. 3 position in foundry revenue market share in Q1 2024 for the first time, as demand recovery begins in China, including CIS, PMIC, IoT, and DDIC applications," showed the Counterpoint Research report published Wednesday.
Persons: GlobalFoundries, Chips, SMIC Organizations: Semiconductor Manufacturing International Corporation, Research, Semiconductor Manufacturing, Co, Taiwan's United Microelectronics Corporation, Taiwan Semiconductor Manufacturing Company, South, Samsung Foundry, CIS Locations: Beijing, China, China's
Nikki Haley plans to vote for Donald Trump, she said Wednesday in her first public remarks since exiting the Republican presidential primary more than two months ago. Earlier this year, Haley and Trump were engaged in what had become a bitter primary feud. Yet even in her absence, she’s been winning votes in one Republican primary after another. And I made that pitch to President Trump and also to Nikki Haley.”Norman said that while Haley has not expressed interest in joining Trump’s ticket, he believes she would be interested. As other former Republican contenders have fallen in line behind Trump, Haley has intentionally kept her distance – not hostile, but also not hungry for his adulation.
Persons: Nikki Haley, Donald Trump, Haley, Trump “, Joe Biden “, , Haley’s, Walter P, Stern, , “ Trump, ” Haley, Trump, Biden, MAGA, he’s, Haley didn’t, “ Biden, Mike Johnson, Michael, she’s, Michael Tyler, Biden’s, Ralph Norman of, ” Norman, Haley “, ” Haley’s, CNN’s Kit Maher Organizations: CNN, Former South Carolina Gov, Republican, Trump, United Nations, Hudson Institute, GOP, Committee, Institute, Hamas, South, Democratic Locations: Washington , DC, United States, Ukraine, Israel, South Carolina, Philadelphia, Chester, Montgomery, Indiana, , Ralph Norman of South Carolina, Trump’s, , America
Taipei CNN —Thousands of mostly young protesters surrounded Taiwan’s legislature late into the night on Tuesday, protesting a push by opposition parties to subject the island’s new leader and his administration to tighter scrutiny from a parliament controlled by lawmakers who favor closer ties to China. Meanwhile, the president would be required to deliver an annual address to the parliament on key policy issues. Yasuyoshi Chiba/AFP/Getty ImagesOn Tuesday, as the parliament resumed its meeting to discuss the bill, protesters gathered outside the Legislative Yuan – Taiwan’s unicameral parliament – from morning until midnight, braving downpours in the afternoon. Lai, 64, a former doctor and vice president, was inaugurated Monday alongside new Vice President Hsiao Bi-khim, who recently served as Taiwan’s top envoy to the United States. Both leaders and their party are openly loathed by Beijing for championing Taiwan’s sovereignty.
Persons: Lai Ching, TPP, Yasuyoshi Chiba, Yuan –, braving, Ricky Li, “ I’m, , Lai, Hsiao Bi, China’s Organizations: Taipei CNN, Democratic Progressive Party, Taiwan’s, Kuomintang, KMT, Taiwan People’s Party, DPP, , Communist Party Locations: Taipei, Taiwan’s, China, Beijing, Taiwan, AFP, United States
CNN —The Japanese town of Fujikawaguchiko has erected a giant black net to block views of Mount Fuji, a reaction to the town’s huge popularity on Instagram and other social media platforms. The small town in Yamanashi prefecture has become the center of an international controversy in recent weeks. Japan’s overtourism problemsThis photo was taken on May 20 in front of Mount Fuji in Fujikawaguchiko -- a day before the black net went up. In this case, it’s not a specific attraction bringing hordes of visitors – it’s a viewpoint where people like to take pictures of Mount Fuji. There have been many accidents involving foreign tourists recently,” Haruhito Tsuchiya, a 49-year-old local who works in the tourism industry, told Reuters.
Persons: , Fujikawaguchiko, Kazuhiro Nogi, it’s, “ I’ve, ” Haruhito Tsuchiya, Lawson, Lawson’s Organizations: CNN, Mount, Fuji, Dental Clinic, Clinic, Mount Fuji, Getty, Tokyo –, Reuters, Lawson’s Locations: Fujikawaguchiko, Yamanashi prefecture, Mount Fuji, AFP, Japan, Paris, Hawaii, Tokyo, , Fuji
China has mandated that local businesses leave the door open for cash payments as it tries to attract foreign investment and tourism after the pandemic. AdvertisementHungry for foreign business, China has rushed to bridge the gap. Major payment platforms Alipay and WePay started allowing visitors to link their international bank cards to their Chinese accounts. It's illegal in China to reject cash for purchases, and the central government's crackdown has intensified in the last several years. Investor relations for Yum China, which operates KFC in China, did not immediately respond to a request for comment sent by Business Insider.
Persons: , WePay Organizations: Service, KFC, People's Bank of China, Business, China Post, New China Life Insurance, PICC, Regulators, Yum Locations: Beijing, Wuxi, Jiangsu, Mongolia, China, Gansu, New, Shanghai, Tourism, Yum China
Read previewIn January 2025, Donald Trump may be sworn into office as the 47th President of the United States. Another Trump term, on the other hand, would likely entail a radical reversal from not just the previous four years, but even from Trump's first term in office. While not exhaustive, here's just some of what to expect in a second Trump administration. Miller told The New York Times that a second Trump administration would build "vast holding facilities that would function as staging centers" on "open land in Texas near the border." According to Bloomberg, Trump wants to extend those cuts in a second term.
Persons: , Donald Trump, Joe Biden, Biden, Trump, Trump's, That's, mifepristone, Stephen Miller, Miller, Alex Wong, Nixon, shouldn't, he's, Israel, there's Organizations: Service, Business, Trump, The New York Times, Heritage Foundation's, Senate, Federal Communications Commission, Federal Trade Commission, Federal Reserve, Congress, TIME, Republican, National Guard, United, Department of Justice, Capitol Police, Atlantic Treaty Organization, State Department, Pentagon, Bloomberg, American, Security, Social Security, CNBC Locations: United States, Texas, CPAC, China, Ukraine, Gaza, Israel, Europe, Washington ,
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There's so much personal finance advice out there, but as I settle into adult life, I rely more and more on the fundamentals my parents taught me. They taught me to save what I earnedIt's undisputed that saving money is smart, and it's true that you can find this particular financial advice anywhere. But this is another one of the key money lessons my baby boomer parents taught me. Being economical often gets a bad rap, but I think it's one of the most valuable money habits my baby boomer parents instilled in me, especially given the cost of living today. Now that I'm older and have more expenses, my experience and relationship with money influenced by my baby boomer parents have hopefully set me up for success.
Persons: I've, Organizations: Service
Taiwan’s incoming president, Lai Ching-te, is poised to take office on Monday, facing hard choices about how to secure the island democracy’s future in turbulent times — with wars flaring abroad, rifts in the United States over American global security priorities, and political divisions in Taiwan over how to preserve the brittle peace with China. Mr. Lai has promised to steer Taiwan on a safe course through these hazards, a theme that he is likely to highlight in his inaugural speech on a public plaza in Taipei. He has said that he will keep strengthening ties with Washington and other Western partners while resisting Beijing’s threats and enhancing Taiwan’s defenses. Yet he may also extend a tentative olive branch to Beijing, welcoming renewed talks if China’s leader, Xi Jinping, sets aside his key precondition: that Taiwan accept that it is a part of China. “We’ll see an emphasis on continuity in national security, cross-strait issues and foreign policy,” said Lii Wen, the international director for Mr. Lai’s Democratic Progressive Party and an incoming spokesman for the new leader.
Persons: Lai Ching, Lai, Xi Jinping, , , Lii Wen, Lai’s Organizations: Washington, Lai’s Democratic Progressive Party Locations: United States, Taiwan, China, Taipei, Beijing
Customers use automated teller machines (ATM) at an HSBC Holdings Plc bank branch at night in Hong Kong, China, on Saturday, Feb 16, 2019. Despite the fall, HSBC's share price is still at its highest since August 2018, trading at about 68 Hong Kong dollars per share. Shares of HSBC Holdings fell over 3% in Hong Kong on Friday after reports that its top shareholder Ping An Insurance might be looking to cut its stake in the British bank. There are several options including "further share sales, similar to the $50 million sale it disclosed last week." Ping An sold HSBC shares worth 391.49 million Hong Kong dollars ($50.19 million) on May 7, cutting its stake from 8.01% to 7.98%.
Persons: Ping, Bloomberg Organizations: HSBC Holdings Plc, Hong, HSBC Holdings, Ping, Bloomberg, An, HSBC, Hong Kong Locations: Hong Kong, China, British, Asia
Read previewAs World War II ended and the Iron Curtain fell over Eastern Europe, relations deteriorated between the Soviet Union and its Western allies. Zhukov had developed an intense liking for Coca-Cola, a drink now illegal in the Soviet Union. PH/Sherman Montrose ACMECoca-Cola's steadfast support for the Allied war effort helped make it both distinctly American and recognizable worldwide. CORBIS/Corbis via Getty ImagesAt Zhukov's request, the new beverage wasn't put in the usual Coke bottles but instead in unmarked, straight-edged bottles. Its rival Pepsi eventually gained a virtual monopoly in the Soviet Union, which the Soviets maintained — once trading several warships for $3 billion worth of Pepsi — until 1985.
Persons: , Georgy Zhukov, Zhukov, Truman, Robert Woodruff, Dwight Eisenhower, Richard Bong, Henry, Hap, Arnold, Coke, Eisenhower, Getty Images Zhukov, Mark W, Clark, Harry Truman, James Farley, It's Organizations: Service, Soviet Union, Business, Sherman, Sherman Montrose ACME, US, US Army, Army Air Forces, Allied, Keystone, Getty Images, Cola Export Corporation, Getty, Cola, Pepsi Locations: Eastern Europe, Soviet, Soviet Union, Cassino, Italy, Sherman Montrose, North Africa, Coke, Montgomery, Frankfurt, Germany, France, American, Austria, Dehradun, India, Vienna, East
The storm also battered New Orleans overnight, with severe thunderstorms and flooding possible again Friday, according to the local branch of the National Weather Service. A home is severely damaged by a fallen tree after heavy winds and rains ripped through the region on May 17, 2024 in Houston, Texas. Across Houston, photos and videos on social media showed intense flooding and downed trees, as well as toppled electrical towers and power lines. Another video showed baseball fans leaving the stadium amid the bad weather. Strong winds appeared to have blown off roof panels at a Hyatt Regency Hotel in Houston, a video posted to X showed.
Persons: Melissa Phillips, Ike, Houston Mayor John Whitmire, Logan Riely, Harris, Lina Hidalgo, Hidalgo, Samuel Peña, Whitmire, Greg Abbott, Abbott, Brett Coomer, Jon Shapley Organizations: Hearst Newspapers, Getty, Houston Mayor, National Weather Service, Houston Independent School District, Houston Fire, Texas Gov, Texans, Facebook, Houston Astros, Hyatt Regency Locations: Parkway, West, Cypress, Texas, Houston, Romayor, New Orleans, Houston , Texas, Southeast Texas, Sowden, Houston's Harris County, Fargo Plaza
Friends with older children told tales of university parent Facebook groups, which were filled with demands that the dining halls specially cook their child's food in avocado oil. But I then joined a few of the parent Facebook groups for my son's new school out of curiosity. I tried not to get sucked into helicopter parenting my college-age kid, but it was hard to let go during the transition. My husband begged me to stop, but I kept getting sucked into post after post and discovered new parent Facebook groups to join. I dipped back into the Facebook groups and saw parents' posts about finding sublets, how to obtain parking passes, and the best grocery stores near campus.
Persons: ranted, Danielle Evans, Cole Organizations: Service, Facebook, Business, LinkedIn Locations: Boston
CNN —House Republicans will take their first step towards holding Attorney General Merrick Garland in contempt of Congress on Thursday for refusing to turn over the audio recordings of special counsel Robert Hur’s interviews with President Joe Biden. The House Oversight and Judiciary committees will each hold markups on their respective reports recommending a contempt of Congress resolution against Garland for failing to comply with a congressional subpoena. If passed out of the committees, the resolutions would next go to the House floor for a vote by the whole chamber. While Hur’s probe led to no charges against the president, Republicans have seized on Hur’s description of Biden as a “well-meaning, elderly man with a poor memory” in his final report. DOJ has also outlined distinct privacy concerns related to an audio recording of an interview compared to a written transcript, and how the release of such an audio file could dissuade cooperation from future witnesses in criminal investigations.
Persons: General Merrick Garland, Robert Hur’s, Joe Biden, Garland, Hur, Biden, Mark Zwonitzer, Carlos Uriarte, ” Uriarte, , , Donald Trump Organizations: CNN — House Republicans, of Justice, Republicans, CNN, DOJ, House Republicans, Republican, ” Republicans Locations: New York City
The House vote has seemingly been partly designed to put pressure on Democrats and is expected to expose divisions within the party over the issue. The bill is unlikely to be taken up in the Democratic-led Senate and the White House has said that Biden would veto the bill if Congress passed it. The Biden administration on Tuesday began the early stages of a process to move ahead with a new $1 billion arms deal for Israel, according to two congressional sources. The move comes as the Biden administration has paused the shipment of 2,000-pound bombs and 500-pound bombs to Israel, citing opposition to the weapons being used in the densely populated areas of Rafah. Biden has come under extraordinary pressure, including from some members of his own party, to limit shipments of arms amid a humanitarian crisis in Gaza.
Persons: Joe Biden, Biden, CNN’s Erin Burnett, Benjamin Netanyahu, Israel ”, Adam Smith, , ” Smith, , Kevin Liptak, Kylie Atwood Organizations: CNN, GOP, Congress, State Department, Defense Department, National Security Council, Democratic, White, Tuesday, House Democratic, Hamas, Israel, ” Democratic, House Armed Services Committee Locations: Israel, Gaza, United States, Rafah
regulators could ultimately fine Meta up to 6 percent of its global revenue, which was $135 billion last year, as well force other product changes. The investigations are part of a growing effort by governments around the world to rein in services like Instagram and TikTok to protect minors. Meta has for years faced criticism that its products and recommendation algorithms are fine-tuned to hook children. In October, three dozen states in the United States sued Meta for using “psychologically manipulative product features” to lure children, in violation of consumer protection laws. People younger than 13 are not supposed to able to sign up for an account, but E.U.
Persons: Meta Organizations: Facebook, European Commission, United, Meta, Digital Services Locations: United States
President Biden has asserted executive privilege to deny House Republicans access to recordings of his interview with a special counsel investigating his handling of government documents, Justice Department officials and the White House counsel said on Thursday. The move is intended to shield Attorney General Merrick B. Garland from prosecution if House Republicans succeed in their effort to hold him in contempt for refusing to turn over audio of Mr. Biden’s conversations with the special counsel, Robert K. Hur. The move is certain to draw the ire of former President Donald J. Trump and his allies, but it is in keeping with the practice of his administration and that of his predecessor, President Barack Obama. The Justice Department cited executive privilege in opting not to pursue charges against two of Mr. Garland’s predecessors when they were held in contempt: Eric H. Holder Jr., a Democrat, in 2012 and William P. Barr, a Republican, in 2020. “It is the longstanding position of the executive branch held by administrations of both parties that an official who asserts the president’s claim of executive privilege cannot be prosecuted for criminal contempt of Congress,” Carlos F. Uriarte, the assistant attorney general for legislative affairs, wrote in a letter to Representative Jim Jordan of Ohio, who leads the House Judiciary Committee, and Representative James R. Comer of Kentucky, who leads the Oversight Committee.
Persons: Biden, General Merrick B, Garland, Robert K, Hur, Donald J, Trump, Barack Obama, Eric H, Holder Jr, William P, Barr, ” Carlos F, Jim Jordan of, James R, Comer Organizations: Justice Department, White, Republicans, The, Democrat, Republican, Committee Locations: Jim Jordan of Ohio, Comer of Kentucky
Dollar sags as slower U.S. inflation boosts rate cut expectations
  + stars: | 2024-05-16 | by ( ) www.cnbc.com   time to read: +3 min
The dollar skidded to multi-month lows on Thursday after U.S. core inflation hit its slowest in three years and retail sales turned flat, which pulled forward expectations for rate cuts in the world's biggest economy. The dollar skidded to multi-month lows on Thursday after U.S. core inflation hit its slowest in three years and retail sales turned flat, which pulled forward expectations for rate cuts in the world's biggest economy. Stocks and other risk-sensitive assets such as the Australian dollar led gains in the wake of the data release. The New Zealand dollar hit a two-month high at $0.6131. Softer-than-expected retail sales figures, which were flat last month instead of the 0.4% gain that economists had forecast, reinforced the newfound confidence in rate cuts.
Persons: Sterling, Bart Wakabayashi, China's, Bitcoin Organizations: Australian, New Zealand, U.S, State, European Central Bank Locations: Asia, Tokyo, Treasuries
U.S. President Joe Biden delivers remarks while meeting with the Joint Chiefs and Combatant Commanders in the Cabinet Room of the White House May 15, 2024 in Washington, DC. WASHINGTON — President Joe Biden has asserted executive privilege over an audio recording of his interview with special counsel Robert Hur, the Republican federal prosecutor who declined to recommend charges against the president over his handling of classified documents. White House counsel Ed Siskel notified Reps. James Comer and Jim Jordan of the decision in a letter on Thursday. The decision came after Attorney General Merrick Garland recommended that Biden assert executive privilege. Biden defended his memory, and Garland later said it would be "absurd" for him to have tried to block Hur's language about the president's memory.
Persons: Joe Biden, Robert Hur, Ed Siskel, James Comer, Jim Jordan, General Merrick Garland, Biden, Carlos Felipe Uriarte, Garland, Hur, Donald Trump Organizations: Joint Chiefs, WASHINGTON, Republican, Department, House Judiciary, White, Republicans Locations: Washington , DC
The inhospitable location has long puzzled archaeologists, some of whom had found evidence that the Nile River once flowed near these pyramids in some capacity, facilitating the landmarks’ construction starting 4,700 years ago. “This is the first study to provide the first map of the long-lost ancient branch of the Nile River.”Ghoneim and her colleagues refer to this extinct branch of the Nile river as Ahramat, which is Arabic for pyramids. Ancient Egyptians likely used the now-extinct Ahramat Branch to build many pyramids. Eman Ghoneim et alThe ancient waterway would have been about 0.5 kilometers wide (about one-third of a mile) with a depth of at least 25 meters (82 feet) — similar to the contemporary Nile, Ghoneim said. Most likely, a period of drought and desertification swept sand into the region, silting up the river, Ghoneim said.
Persons: CNN —, , Ghoneim, ” Ghoneim, Nick Marriner, ” Marriner Organizations: CNN, University of North, University of North Carolina Wilmington’s, Branch, National Science Foundation, French National Centre for Scientific Research Locations: Giza, University of North Carolina, Ahramat, Egypt, Paris
It also instructs multiple Senate committees to come up with guardrails for AI to address some of its biggest risks, such as AI-enabled discrimination, job displacement and election interference. “Harnessing the potential of AI demands an all-hands-on-deck approach and that’s exactly what our bipartisan AI working group has been leading,” Schumer said Wednesday. “This roadmap represents the most comprehensive and impactful bipartisan recommendations on artificial intelligence ever issued by the legislative branch,” Young said Wednesday. Schumer has described regulating artificial intelligence as a challenge for Congress unlike any other, vowing a swift timeline measured in months, not years. But policy analysts, and some congressional aides, doubt whether Congress can pass significant legislation regulating AI in an election year.
Persons: Chuck Schumer, Schumer, ” Schumer, New Mexico Democratic Sen, Martin Heinrich, Republican Sens, Mike Rounds, Todd Young, ” Young, Organizations: CNN, European Union, National Security, Artificial Intelligence, New, New Mexico Democratic, Republican, South, Todd Young of Indiana, EU Locations: New York, New Mexico, South Dakota
Germany's Commerzbank said on Wednesday that net profit rose 29% in the first quarter, its strongest quarterly profit in a decade, and it raised its outlook for net interest income for the full year. Net profit of 747 million euros ($808.25 million) in the quarter compares with a profit of 580 million euros a year earlier. Analysts had on average expected profit of 652 million euros, according to an April consensus forecast published by Commerzbank. Net interest income rose 9.2% in the first quarter to 2.126 billion euros, better than expectations for 2.096 billion euros. The bank raised its full-year forecast for net interest income to 8.1 billion euros from 7.9 billion euros previously.
Persons: Germany's Commerzbank, Commerzbank Locations: Frankfurt
CNN —House Speaker Mike Johnson is not waiting for ex-President Donald Trump to be judged by a jury of his peers. Vance, a possible VP contender, was there along with Alabama Sen. Tommy Tuberville, a famed former college football coach. The speaker’s appearance is different, given the constitutional heft of his office and the figurative connotations it evokes. Some experts have questioned whether any other defendant besides Trump would face the same indictment at the hands of a prosecutor, Manhattan District Attorney Alvin Bragg, a Democrat. Trump is exercising his right to mount a defense and is considered innocent until proven guilty.
Persons: Mike Johnson, Donald Trump, He’s, Trump, Johnson, Michael Cohen, Ohio Sen, J.D, Vance, Alabama Sen, Tommy Tuberville, Doug Burgum, , he’s, Stormy Daniels, Daniels, Cohen, Trump’s, , ” Johnson, Attorney Alvin Bragg, Organizations: CNN —, Republican, Louisiana Republican, Trump, , Ohio, Alabama, North Dakota Gov, GOP, Attorney, Democrat Locations: Louisiana, New York, Manhattan
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