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☆ Nvidia’s AI Boom Almost Blows Past Politics
▼ + stars: | 2023-11-22 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Jensen Huang, co-founder and chief executive officer of Nvidia, last month in Taipei. Photo: i-hwa cheng/Agence France-Presse/Getty ImagesNvidia rules the artificial intelligence world, but that world is getting a little smaller—and more crowded. The chip maker now synonymous with AI reported another quarter of blowout sales and earnings growth late Tuesday. Nvidia’s strong lead in the chips necessary to power generative AI technologies such as ChatGPT is also evident in its surging bottom line. Adjusted operating margins hit a record high of 64% in the fiscal third quarter ended October, far above the company’s average of 38% for the same quarter over the past five years.

Persons: Jensen Huang, hwa cheng Organizations: Nvidia, Agence France, Revenue Locations: Taipei

☆ U.S. Thwarted Plot to Kill Sikh Activist
▼ + stars: | 2023-11-22 | by ( Sabrina Siddiqui | Aruna Viswanatha | ) www.wsj.com time to read: 1 min

Attorney and Sikh activist Gurpatwant Singh Pannun, seen in 2014, was said to be the target of the plot. Photo: jewel samad/Agence France-Presse/Getty ImagesWASHINGTON—U.S. authorities have stopped a plot targeting a Sikh activist and confronted the Indian government about the potential involvement of its agents, according to people familiar with the matter. The breakup of the plot, targeting Gurpatwant Singh Pannun , who is a lawyer for a group called Sikhs for Justice, comes two months after Canadian authorities publicly accused India of playing a role in the killing of another Sikh separatist leader, Hardeep Singh Nijjar, in British Columbia earlier this year.

Persons: Gurpatwant Singh Pannun, samad, Hardeep Singh Nijjar Organizations: Agence France, Getty, WASHINGTON —, Justice Locations: WASHINGTON — U.S, India, British Columbia

A deal for a temporary cease fire was inching into view in Israel's war against Hamas, but Prime Minister Benjamin Netanyahu tempered expectations by vowing that the war would continue even if a deal is reached. “We are at war, and we will continue the war,” he said. Israel has vowed to continue the war until it destroys Hamas’ military capabilities and returns all hostages. Turkish President Recep Tayyip Erdogan, whose government maintains ties with Hamas officials, said Turkey’s foreign minister and intelligence chief were working with Qatari officials to negotiate releases. Hamas has released four hostages, Israel has rescued one, and the bodies of two were found near Shifa.

Persons: Benjamin Netanyahu, Netanyahu, Israel, Gaza — Israel, NETANYAHU, ”, “, Mostafa Madbouly, ” Madbouly, Israel —, Hadas Kalderon, Kalderon, John Kirby, Kirby, “ We’ve, ” NETANYAHU, ‘, ” Netanhayu, Khalil al, Hayya, Valdis Dombrovskis, ” BIDEN, WASHINGTON, Joe Biden, ” “, ” Biden, Biden's, Recep Tayyip Erdogan, Erdogan, Abdelmadjid Tebboune, Tebboune, ” Tebboune, ” Erdogan, Israel’s, Asad, Assad, Qassim Abdul, Bassem, Tara Copp, Benjamin Netanyahu’s, Sergey Lavrov, Lavrov, ” Lavrov, Ziad Makary, Farah Omar, Rabih Maamari, Kfar Kila, Laiqa Serhan, Reuters videojournalist, Abduallah, Qatar’s Al, Izzat, Ismail Haniyeh, Goren, Tal Chaimi, ” Netanyahu, Mosab Abu Toha, Hamza Abu Toha, Mosab, Hamza, ” Mosab Abu Toha, Abu, Abu Toha Organizations: Hamas, Senior, Palestinian, Troops, Health Ministry, West Bank, WAR, JERUSALEM, CAIRO —, Israel, White, National Security, Israel —, European Union, ” EU, HIT ISRAEL, Algerian, International Criminal, Hezbollah, Cabinet, MUSLIM, Arab League, Organization of Islamic Cooperation, United Nations Security Council, Lebanese, National News Agency, Reuters, Agence France, Jazeera, SEA DUBAI, United Arab Emirates, Galaxy Leader, U.S . Navy, OFFICIAL, PEN, Yorker Locations: Israel, United States, Qatar, Gaza, Gaza City, Gaza —, Iran, Yemen, Egypt, Cyprus, israel, Israeli, EGYPT, CAIRO, TEL AVIV, HAIFA, Beirut, EU, STRASBOURG, France, TURKEY, ALGERIA, GAZA ALGIERS, Algeria, Turkey, Turkish, BAGHDAD, Iraq, U.S, al, Baghdad, Anbar, Syria, Zahra, Bassem Mroue, Washington, JERUSALEM, “, Russian, Moscow, Russia, LEBANON, ISRAEL, BEIRUT, Lebanon, Kibbutz Manara, Kfar, IRAN, YEMEN, United Arab, Tehran, American, Red, Persian, Hormuz, Shifa

☆ Sam Altman Will Not Return as CEO of OpenAI
▼ + stars: | 2023-11-20 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Sam Altman Will Not Return as CEO of OpenAISam Altman’s bid to return to artificial intelligence company OpenAI faltered on Sunday, as the board that fired him did not agree to the proposed terms of his reinstatement. Emmett Shear, former CEO of Twitch, was named interim CEO, according to people with knowledge of the matter. Photo: Patrick T. Fallon/Agence France-Presse/Getty Images

Persons: Sam Altman, Sam Altman’s, OpenAI, Emmett Shear, Patrick T Organizations: Fallon, Agence France

Sam Altman’s bid to return to artificial intelligence company OpenAI faltered on Sunday, as the board that fired him didn’t agree to the proposed terms of his reinstatement. Photo: Patrick T. Fallon/Agence France-Presse/Getty ImagesSAN FRANCISCO—Microsoft said it is hiring Sam Altman to helm a new advanced artificial-intelligence research team, after his bid to return to OpenAI fell apart Sunday with the board that fired him declining to agree to the proposed terms of his reinstatement. Microsoft Chief Executive Satya Nadella posted on X (formerly Twitter) late Sunday that Altman and Greg Brockman , OpenAI’s president and co-founder who resigned Friday in protest over Altman’s ouster, will lead its team alongside unspecified colleagues. Nadella said Microsoft was committed to its partnership with OpenAI and that it would move quickly to provide Altman and Brockman with “the resources needed for their success.”

Persons: Sam Altman’s, OpenAI, Patrick T, Sam Altman, Satya Nadella, Altman, Greg Brockman, Nadella, Brockman, ” Organizations: Fallon, Agence France, Microsoft, OpenAI

Sam Altman’s bid to return to artificial intelligence company OpenAI faltered on Sunday, as the board that fired him didn’t agree to the proposed terms of his reinstatement. Photo: Patrick T. Fallon/Agence France-Presse/Getty ImagesSAN FRANCISCO— Sam Altman ’s bid to return to OpenAI after being ousted Friday faltered late Sunday, as the board that fired him refused to agree to the proposed terms of his reinstatement and quietly found someone else to take Altman’s spot. Emmett Shear, former chief executive of Twitch, was named interim CEO, according to people with knowledge of the matter. Altman was shocked by the decision, previously feeling confident he would be able to return to the company he co-founded, according to a person familiar with his thinking.

Persons: Sam Altman’s, OpenAI, Patrick T, Sam Altman ’, Emmett Shear, Altman Organizations: Fallon, Agence France

☆ Was Peace Ever Possible?
▼ + stars: | 2023-11-20 | by ( Moderated Emily Bazelon | A Discussion Moderated Emily Bazelon | ) www.nytimes.com time to read: +45 min

This was known as the Oslo peace process, named for the city where the secret talks took place. Micha Bar-Am/Magnum Photos Prime Minister Yitzhak Shamir of Israel during the the Middle East peace conference in Madrid, 1991. Margalit: All the Israeli leaders who negotiated for peace, starting with Rabin, were in a weak political position. Dajani: With the First Intifada, and then subsequently Madrid and Oslo, Palestinians suddenly see the possibility of agency. But what’s important to understand is that the notion of peace for Rabin, and for most Israelis, is that peace is a lack of violence from the other side.

Persons: Jordan, Israel, Yasir Arafat, Bernard Frye, Arafat, Larry Towell, Abbas, Micha, Yitzhak Shamir, Jerome Delay, Saddam, Hussein, George H.W, Bush, James A, Baker III, Baker, Shamir, Yitzhak Rabin, Rabin, Shimon Peres, —, Margalit, Saddam Hussein, Hosni Mubarak of, King Hussein of Jordan, Bill Clinton, Gary Hershon, Abu Alaa, “, ” Rabin, ” Arafat, ”, Ashrawi, Yehuda, Efraim, Susan Meiselas, Baruch Goldstein, Patrick Baz, Daoud Mizrahi, Gilles Peress, Goldstein, Matti Steinberg, Netanyahu, Bazelon, Clinton, Shikaki, Manal Jamal, didn’t, Dennis Ross, Omar, Camp David, Ehud Barak, Md, Ralph Alswang, Christopher Anderson, Motasm Amir, Barak didn’t, Barak, David, Dajani, Emily, Arafat —, Ross, Mary, Nobody, Arafat didn’t, Hosni Mubarak, Mubarak, El, there’s, There’s, Robert Malley, Hussein Agha, ” Barak, Sharon, It’s, Yarden Romann, Peter van Agtmael, Khan Younis, Yousef Masoud, Khan, Ahmad Hasaballah, Ziv Koren, they’re, Dan, Avishai, Omar Dajani, Taba, Dana El Kurd, Efraim Inbar, ‘ ‘ Rabin, ’ ’, Daniel Kurtzer, Avishai Margalit, George Kennan, Van, Khalil Shikaki, Limor Yehuda, Emily Bazelon, Nabil Ismail, Pascal, Said, Ulf Andersen, Getty, Menahem Kahana, Abdel, Shafi, Maggie Ohayon, Yigal Amir, Yoav Lemmer, Jack Guez, Olmert, Moshe Milner, Ami, Dani Cardona, Awad Awad, Obama, Ben Gershom Organizations: United Nations, West Bank, Associated, Palestine Liberation Organization, U.S, Soviet Union, Palestinian, Madrid didn’t, Bank, White, Agence France, Presse, Getty Images, Oslo Accord, White House, Reuters, Israel’s Labor Party government, Bazelon, Oslo Palestinian, Getty, West, Shin, Gross, . Security, Camp, Camp David Summit, Labor Party, NPR, American, New York Times, Polaris, Labor, United, McGeorge School of Law, University of the, Israel, Camp David, University of Richmond, Arab Center Washington, Jerusalem Institute for Strategy, Security, Shalem College, Bar, Ilan University, Sadat Center, Strategic Studies, Israel’s National Security, Princeton University’s School of Public and International Affairs, Hebrew University of Jerusalem, Institute for, Princeton, Israel Academy of Sciences, Humanities, Van Leer Jerusalem Institute, Palestinian Center, Policy, Research, Crown Center for Middle East Studies, Brandeis University, Gaza, Hebrew University, Haifa University, Human, The New York Times Magazine, Mount Locations: Israel, Jordan, Gaza, Egypt, Jerusalem, Zion, Munich, Tunisia, Oslo, American, Oslo Gaza, Palestine, Madrid, Kuwait, United States, Soviet, Lebanon, Syria, Jordanian, America, Washington, U.S, Hosni Mubarak of Egypt, U.N, Independence, Palestinian, Sudan, Libya, Yemen, Iraq, Rafah, Hebron, Ibrahimi, West Bank, Judea, Samaria, Yehuda, Camp David, Jenin, Haram, Al Aqsa, Khan, Kfar Aza, Khan Younis, Ahmad, Old, Ireland, Bosnia, Tel Aviv, Iran, Athens, El, Camp, Israeli, Van Leer, Ramallah

BEIJING, Nov 20 (Reuters) - Arab and Muslim ministers called on Monday for an immediate ceasefire in Gaza, as their delegation visited Beijing on the first leg of a tour to push for an end to hostilities and to allow humanitarian aid into the devastated Palestinian enclave. Saudi Arabia has sought to press the United States and Israel for an end to hostilities in Gaza, and Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, gathered Arab and Muslim leaders to reinforce that message. Gaza's Hamas-run government said at least 13,000 Palestinians have been killed in Israeli bombardments since then, including at least 5,500 children. 'BROTHER AND FRIEND'China's Wang said Beijing was a "good friend and brother of Arab and Muslim countries," adding it has "always firmly supported the just cause of the Palestinian people to restore their legitimate national rights and interests." Reporting by Yew Lun Tian, Laurie Chen and Beijing newsroom; Editing by Edmund Klamann & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Wang Yi, Prince Faisal bin Farhan Al Saud, Israel, Prince Mohammed bin Salman, Sameh Shoukry, Beijing Irit Ben, Abba, China's Wang, COVID lockdowns, Xi, Wang, Zhai Jun, Yew Lun Tian, Laurie Chen, Edmund Klamann, Simon Cameron, Moore Organizations: . Security, of Islamic Cooperation, Saudi Foreign, Court, Hamas, Western, Palestinian Authority, West Bank, Arab League, EU, Palestine, United Nations, Thomson Locations: BEIJING, Gaza, Beijing, Saudi Arabia, Jordan, Egypt, Indonesia, Palestine, Riyadh, Palestinian, United States, Israel, China, China's

☆ Biden Keeps Talking About the Old Days. Young Voters Don’t Like It.
▼ + stars: | 2023-11-19 | by ( Catherine Lucey | Ken Thomas | ) www.wsj.com time to read: 1 min

Biden’s campaign adopted the internet meme ‘Dark Brandon’—a depiction of Biden’s red-laser-eyed alter ego—to reframe the Republican anti-Biden chant of ‘Let’s Go Brandon.’ Photo: mandel ngan/Agence France-Presse/Getty ImagesPresident Biden is struggling to connect with younger voters. The sepia-toned stories he peppers into speeches may not be helping. When Biden traveled to Israel last month, he spoke about his 1973 meeting with then Prime Minister Golda Meir . Following the Supreme Court ruling overturning Roe v. Wade last year, he stressed his work in 1987 to keep conservative Judge Robert Bork off the nation’s high court. Pressed about climate change during a news conference in Vietnam, he pointed to his longstanding commitment to the issue, including his work on it with Sen. Dick Lugar (R., Ind.)

Persons: Brandon ’, —, Let’s Go Brandon, ’, mandel ngan, Biden, Golda Meir, Roe, Wade, Robert Bork, Sen, Dick Lugar Organizations: Republican, Agence France, Getty Locations: Israel, Vietnam, Ind

Former OpenAI Chief Executive Sam Altman has told allies that he wants a new board and governance structure if he returns to the company. Photo: patrick t. fallon/Agence France-Presse/Getty ImagesSAN FRANCISCO—Two days after Sam Altman was ousted from OpenAI, he was back at the company’s office, trying to negotiate his return. The former chief executive officer entered with a guest badge on Sunday and posted on X: “first and last time i ever wear one of these.”

Persons: Sam Altman, patrick, ” Organizations: OpenAI, fallon, Agence France

☆ Sean Combs and Singer Cassie Settle Abuse Lawsuit
▼ + stars: | 2023-11-18 | by ( Ginger Adams Otis | ) www.wsj.com time to read: 1 min

Nov. 18, 2023 11:48 am ETHip-hop mogul Sean Combs and the singer Casandra ‘Cassie’ Ventura reached a settlement a day after she filed the lawsuit. Photo: chris delmas/Agence France-Presse/Getty ImagesHip-hop mogul Sean Combs and the singer Casandra “Cassie” Ventura reached a settlement a day after she filed a lawsuit accusing him of physical and mental abuse spanning roughly a decade. The deal was announced late Friday by a lawyer representing Ventura. The terms of the settlement weren’t disclosed.

Persons: Sean Combs, Casandra ‘ Cassie ’ Ventura, chris delmas, Casandra “ Cassie ” Ventura Organizations: Agence France Locations: Ventura

The exact reason for Sam Altman’s firing as CEO of OpenAI remains unclear. Photo: andrew caballero-reynolds/Agence France-Presse/Getty ImagesOpenAI ’s investors are making efforts to bring back Sam Altman , the chief executive who was ousted Friday, said people familiar with the matter, the latest development in a fast-moving chain of events at the artificial-intelligence company behind ChatGPT. Altman is considering returning but has told investors that he wants a new board, the people said. He has also discussed starting a company that would bring on former OpenAI employees, and is deciding between the two options, the people said.

Persons: Sam Altman’s, andrew caballero, reynolds, Sam Altman, Altman Organizations: Agence France, ChatGPT

☆ Texas Rejects Science Textbooks Over Climate Change, Evolution Lessons
▼ + stars: | 2023-11-17 | by ( Sara Randazzo | ) www.wsj.com time to read: 1 min

Some board members raised issues with textbooks presenting the scientific theory of evolution or asserting that the U.S. isn’t energy independent. Photo: allison dinner/Agence France-Presse/Getty ImagesThe Texas State Board of Education voted Friday to block science lessons published by eight companies from appearing on an influential statewide list of textbook providers, citing problems with the way they depicted climate change and evolution. Some of the 15 elected board members raised issues with a book from publisher Discovery Education because it discussed how the U.S. isn’t energy independent and lags behind other nations in oil reserves. A biology textbook from McGraw Hill won approval only after the publisher agreed to remove some graphics depicting human and primate evolution.

Persons: allison, McGraw Hill Organizations: Agence France, The Texas State, of Education, Discovery Education, McGraw Locations: U.S

☆ Covid’s Biggest Economic Winner Is Running Out of Steam
▼ + stars: | 2023-11-16 | by ( Paul Hannon | ) www.wsj.com time to read: 1 min

No other country grew as fast as Ireland between 2020 and 2022, other than Guyana, which saw an oil boom. Photo: paul faith/Agence France-Presse/Getty ImagesIt was one of very few economies to get a boost from the Covid-19 pandemic. That unusual dividend is now unraveling, in a fresh blow to Europe’s already weakened growth outlook. Home to large U.S. technology and pharmaceutical companies that saw their sales boom during the pandemic, tiny Ireland recorded annual growth of 10.5% on average between 2020 and 2022 while other economies contracted under the effect of lockdowns.

Persons: paul Organizations: Agence France Locations: Ireland, Guyana

☆ The Biden-Xi Truce of the Moment
▼ + stars: | 2023-11-16 | by ( The Editorial Board | ) www.wsj.com time to read: +1 min

President Joe Biden greets Chinese President Xi Jinping before a meeting during the Asia-Pacific Economic Cooperation (APEC) Leaders' week in Woodside, Calif., Nov. 15. Photo: brendan smialowski/Agence France-Presse/Getty ImagesPresident Biden met Chinese President Xi Jinping on Wednesday in California, and the atmospherics suggested a new era of bilateral good feelings. Both sides have reasons at the moment to appear to be getting along better. Mr. Xi needs foreign investment and export markets to offset the real-estate crash and excessive debt that are slowing China’s economy. He’s put Beijing’s “wolf warrior” diplomats in the closet for now, though they could return at any time.

Persons: Joe Biden, Xi Jinping, brendan smialowski, Biden, Xi, He’s Organizations: Economic Cooperation, APEC, Agence France, Getty Locations: Asia, Woodside , Calif, California, U.S

☆ Iran Maintains Steady Expansion of Nuclear Program
▼ + stars: | 2023-11-16 | by ( Laurence Norman | ) www.wsj.com time to read: 1 min

Rafael Grossi, director general of the International Atomic Energy Agency, at the U.N. agency’s Vienna headquarters in September. Photo: alex halada/Agence France-Presse/Getty ImagesIran continued to expand its nuclear program, including its stockpile of near-weapons-grade enriched uranium in recent months, although it hasn’t accelerated the pace of its production of nuclear fuel amid the current turmoil in the Middle East. In its confidential quarterly report circulated to member states, the United Nations nuclear agency also said Tehran has largely refused to cooperate on several outstanding disputes, including the country’s withdrawal of permission for several European inspectors to continue working there.

Persons: Rafael Grossi, alex halada, hasn’t Organizations: International Atomic Energy Agency, Agence France, Getty Images, United Nations Locations: agency’s Vienna, Getty Images Iran, Tehran

☆ APEC Summit Biden Aims to Fortify Ties With Asian Nations at Summit in San Francisco
▼ + stars: | 2023-11-16 | by ( Katie Rogers | ) www.nytimes.com time to read: +12 min

Image President Xi Jinping of China spoke to a crowd of U.S. business executives at a dinner in San Francisco on Wednesday evening. “There are hundreds and hundreds of activists —” Crowd: “Go home Xi Jinping!” “— who are coming together from all corners of this nation.” “We are really upset. 1 question for us is: Are we adversaries or partners?” Mr. Xi asked. Mr. Orlins said the Chinese had prepared three versions of a speech Mr. Xi could deliver that night. After Wednesday’s events with Mr. Biden, Mr. Xi picked the friendliest one.

Persons: Xi Jinping, Carlos Barria, Xi, —, Xi Jinping doesn’t, ”, ” “, Jinping, Josh Edelson, Xi —, Mr, Tim Cook, Larry Fink, BlackRock, Jerry Brown, Elon Musk, ” John L, Holden, Biden, Doug Mills, ” Michael Hart, Jim Wilson, Angus, Gina M, Raimondo, “, Ms, “ I’m, Stephen A, United States — Deng Xiaoping, Jiang Zemin, Hu Jintao, Deng, It’s, ” Mr, Orlins, “ They’re, Jeff Chiu, Biden’s Organizations: Visit, Credit, Agence France, Hyatt Regency, Apple, Boeing, Pfizer, Nike, FedEx, Elon, McLarty Associates, San Francisco . Credit, New York Times, U.S, American Chamber of Commerce, ., Mr, National Committee, United, China Relations, Associated, U.S ., China Business Council, Economic Cooperation, Consulate Locations: China, U.S, San Francisco, Hong Kong, Tibet, United States, California, Filoli, San Francisco ., ”, Iowa, Asia, Pacific

While key issues like U.S. sanctions on chip exports remain unresolved, Chinese state media is now striking a different tone, focusing on Xi's smile during past trips to Iowa, fireside chats with its residents, and sharing chocolates with Biden. With official ties still strained, Chinese state media has focused on relations between the people and emphasised the potential for cooperation and importance of the summit for the Asia-Pacific region. Gary Dvorchak, an Iowan considered by Xi an old friend of China, said Xi's fondness for Iowa was genuine but that the Chinese leader also used his ties to the state for propaganda value. “It humanises him and it gives him an ability to show a connection to the American people and bypass the American media,” said Dvorchak. On the Weibo Chinese microblogging site, the most popular hashtag on Thursday still harked back to tension over Taiwan: "China must be and will be reunified."

Persons: Xi Jinping, Carlos Barria, Joe Biden, Xi, Biden, Li Mingjiang, Iowans, Gary Dvorchak, ”, Dvorchak, Albee Zhang, Michael Martina, Greg Torode, Robert Birsel Organizations: National Committee, China Relations, China Business Council, Economic Cooperation, REUTERS, Rights, U.S, Rajaratnam School of International Studies, Xinhua, Weibo, Thomson Locations: Asia, San Francisco , California, U.S, Rights BEIJING, California, Iowa, Taiwan, China, Singapore, Pacific, Xinhua, Beijing, Washington, Hong Kong

☆ Britain’s Top Court Nixes Plan to Send Migrants to Africa
▼ + stars: | 2023-11-15 | by ( Max Colchester | David Luhnow | ) www.wsj.com time to read: 1 min

The U.K. plan is part of a broader effort by Western countries to cope with a rise in migrants arriving at their borders. Photo: henry nicholls/Agence France-Presse/Getty ImagesLONDON—A U.K. plan to send some migrants who arrive illegally to live in Rwanda suffered a major setback after a top court said the central African country wasn’t a safe place to house asylum seekers. The ruling scuttles Prime Minister Rishi Sunak ’s marquee policy to curb migration and offers a warning shot to other European nations considering similar plans.

Persons: henry nicholls, Rishi Sunak Organizations: Agence France, scuttles Locations: U.K, Rwanda

☆ Low Platinum Prices Show How Banking on Miners Could Threaten the Energy Transition
▼ + stars: | 2023-11-15 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

Platinum is used to make the electrolyzers that produce hydrogen and the sharp down cycle in South Africa’s platinum mining sector demonstrates the risk that low prices and lack of investment could slow the energy transition. Prices for other commodities have also fallen, while miners have been complaining of rising costs and seem to be limiting their capital expenditures. Photo: michele spatari/Agence France-Presse/Getty ImagesFor the mining sector, cyclical returns are nothing new. Ray said many South African PGM miners are now selling their output at close to the cost of production, eating away at profitability. “To the extent that PGM prices stay at current levels, I would not be surprised to see more supply-side reaction,” Ray said.

Persons: Waldo Swiegers, ”, Tom Price, michele spatari, We’ve, ” Emma Townshend, ” Townshend, Raj Ray, Ray, ” Ray, ” Implats’s Townshend, Implats, Yusuf Khan Organizations: Bloomberg, Liberum, Agence France, PGM, Times, Business, BMO Capital Markets, Metals Locations: Sibanye, Africa, Johannesburg, Stillwater, South, South Africa, Marikana, U.S, China, Europe, Implats

☆ Taiwan Opposition Parties Unite Against Presidential Candidate China Sees as Threat
▼ + stars: | 2023-11-15 | by ( Joyu Wang | ) www.wsj.com time to read: 1 min

A deal between two Taiwan opposition parties is expected to bolster their chances against Vice President Lai Ching-te, a leading candidate of the ruling Democratic Progressive Party. Photo: sam yeh/Agence France-Presse/Getty ImagesTAIPEI—Taiwan’s two largest opposition parties reached a deal to collaborate in a pivotal election scheduled for early January that has major ramifications for Taiwan’s future and U.S.-China relations. Taiwan’s main opposition Nationalist Party, which favors closer relations with Beijing, said it would work with a third party founded by a former Taipei mayor to run jointly for the 2024 elections. The long-anticipated deal is expected to bolster the opposition’s chances against Vice President Lai Ching-te, a leading candidate of the ruling Democratic Progressive Party, which has forged tighter ties with the U.S., and is currently leading in the polls.

Persons: Lai Ching Organizations: Democratic Progressive Party, Agence France, Getty, TAIPEI —, Nationalist Party, U.S Locations: Taiwan, China, Beijing, Taipei

☆ While All Inflation Feels Bad, Housing Inflation Is the Worst
▼ + stars: | 2023-11-15 | by ( Greg Ip | ) www.wsj.com time to read: 1 min

Since January 2021, home prices have risen 29% and mortgage rates have nearly tripled. Photo: roberto schmidt/Agence France-Presse/Getty ImagesTwo weeks ago, I asked why Americans were in such a rotten mood when the data said the economy is in such good shape. Inflation, we just learned, eased in October, extending a two-week rally in stocks and bonds. And yet the University of Michigan’s index of consumer sentiment keeps falling. Many readers offered reasons for their sour mood that had little to do with the economy: the border, crime, President Biden, former President Donald Trump.

Persons: roberto schmidt, Biden, Donald Trump Organizations: Agence France, University of

☆ China’s Retail Spending Picks Up, as Housing Slump Deepens
▼ + stars: | 2023-11-15 | by ( Cao Li | ) www.wsj.com time to read: 1 min

Workers at a logistics center in Hengyang, China, sorting packages for delivery after the Singles Day shopping festival. Photo: str/Agence France-Presse/Getty ImagesHONG KONG—China’s economy showed modest signs of improvement in October as consumer spending picked up, but the country’s prolonged property slump worsened. Retail sales rose 7.6% compared with the same period last year, when stringent Covid lockdowns kept a tight lid on spending activities, according to data released Wednesday by China’s National Bureau of Statistics. October’s sales accelerated from September’s 5.5% year-over-year growth and topped the 7% expected by economists.

Persons: lockdowns Organizations: Agence France, Getty, HONG, China’s National Bureau of Statistics, September’s Locations: Hengyang, China, HONG KONG

☆ U.K. Inflation Drops Sharply, Likely Ending Rate Hikes
▼ + stars: | 2023-11-15 | by ( Paul Hannon | ) www.wsj.com time to read: 1 min

Despite cooling inflation, the Bank of England last month said it is too soon to think about cutting interest rates. Photo: daniel leal/Agence France-Presse/Getty ImagesLONDON—The U.K.’s annual rate of inflation fell more sharply than expected in October as household energy prices tumbled, the latest sign that a two-year surge in consumer prices across Europe is running out of steam as the continent’s economy flatlines. News of that decline followed Tuesday’s report of a drop in the U.S. inflation rate and added to investor confidence that the leading central banks are done raising their key interest rates—and are likely to start paring back lending rates in 2024, helping the economy. In the U.S., the inflation rate fell to 3.2% in October from 3.7% in September.

Persons: daniel leal Organizations: Bank of England, Agence France Locations: Europe, U.S

☆ Judge in Trump’s Georgia Case to Bar Release of Sensitive Evidence After Media Leaks
▼ + stars: | 2023-11-15 | by ( Mariah Timms | Jan Wolfe | ) www.wsj.com time to read: 1 min

Fulton County Superior Court Judge Scott McAfee presiding over a recent hearing in Atlanta. Photo: Christian monterrosa/Agence France-Presse/Getty ImagesATLANTA—The judge overseeing the racketeering case against former President Donald Trump and 14 remaining co-defendants said he would soon place new limits on how evidence should be handled, after a defense lawyer admitted to disclosing video clips of witness interviews to a media outlet. Fulton County Superior Court Judge Scott McAfee said during an unusual court hearing Wednesday afternoon that he would impose a “protective order,” which would bar defense lawyers from disclosing certain information they get about the prosecution’s case during discovery.

Persons: Scott McAfee, Christian, Donald Trump Organizations: Agence France, Getty, ATLANTA Locations: Fulton, Atlanta, Fulton County

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