Nvidia spy scandal fuels debate over chip exports to China
A reported espionage scandal involving Nvidia chief executive Jensen Huang has intensified debate in Washington over whether the United States should tighten restrictions on advanced chip sales to China. The controversy centres on allegations that a former Megaspeed executive, Alice Huang, was recruited by China's Ministry of State Security, and on claims that she had an intimate relationship with Huang. The case has drawn fresh attention to the role of one of the most influential companies in the global artificial intelligence race.According to the supplied material, Nvidia's board launched an inquiry on Sunday into Huang's relationship and said it would... [Continue Reading]
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Breakfast News Recap: Turkey blast, Gaza storm and Iran tensions dominate a crowded global briefing
A blast at a steel plant in Turkey's Izmir province has killed 17 people and sparked a fire at an industrial complex in the Aliaga district, with investigators still working to establish the cause. 🔗In the Middle East, Donald Trump said the war with Iran is now effectively over militarily and that further US strikes are highly unlikely, even as he said negotiations continue. He also posted that Iran's nuclear weapon ambitions are non negotiable and that the United States is locked and loaded if the situation changes. 🔗 🔗The fallout from the conflict is still rippling through the region... [Continue Reading]
Wall Street closes mixed as megacap tech splits, Nvidia sinks, and energy slides while gold and natural gas rally
Executive summary: U.S. stocks finished mixed, with the S&P 500, Nasdaq Composite and Dow Jones all edging higher, while the Russell 2000 outperformed. The session was defined by a sharp selloff in Nvidia, strength in Amazon, Microsoft, Meta and Apple, and a broad retreat in energy shares as crude oil fell. Commodities were split, with gold, silver, platinum and natural gas higher, while Bitcoin and ether weakened. The move suggests investors rotated within equities rather than abandoning risk entirely. [Continue Reading]
White House recaps Trump 60 Minutes interview after midterm elections
The White House on 60 Minutes published a recap of President Donald J. Trump's interview following the midterm elections, presenting his remarks as a defense of his America First record. The post says Trump highlighted the economy, border security, Iran, private investment, artificial intelligence, and the Russia-Ukraine war. In the interview, Trump said he thought the midterm outcome would have been different if he had been on the ballot. He said voters did not like the war, did not like gasoline prices going up, and expressed concern about what he called a "great dislike" for Israel. The White House excerpt... [Continue Reading]
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Day News Recap: Trump Iran pressure, Ukraine diplomacy and regional shocks dominate a volatile day
Donald Trump said he may meet Vladimir Putin and Xi Jinping in China next week, while also claiming the United States has nearly sealed Iran off and that Task Force Iron Gate is active against Tehran’s weapons transport routes. The White House pressure campaign comes as Washington weighs tougher action and Trump continues to frame the Iran confrontation as part of a broader strategic push. 🔗 🔗 🔗Diplomatic efforts around Iran and Ukraine intensified in parallel. European representatives are set to join US mediated peace talks on Ukraine in Abu Dhabi, the G7 foreign ministers are meeting in Paris with... [Continue Reading]
Noontime News Recap: US strikes Iran as diplomacy widens and Ukraine peace talks gather pace
President Donald Trump said the United States has won the war with Iran and warned that renewed fighting was highly unlikely, after US forces struck Qeshm Island and other targets, a sharp escalation that he cast as a decisive victory. 🔗At the same time, diplomacy has not stopped. Iran has put forward a new two day proposal through Qatari mediators, and Washington is examining it as talks continue over Tehran's nuclear programme ahead of a White House meeting. 🔗Iran is also tightening domestic security controls, warning of tough punishment for protests as authorities try to project firmness amid fears of... [Continue Reading]
Nvidia board opens independent probe as Jensen Huang faces China spy allegations
Nvidia has said its board has opened an independent investigation after media reports linked chief executive Jensen Huang to allegations involving a Chinese businesswoman and possible intelligence gathering for Beijing. The company said it has no reason to believe United States national security or confidential information was compromised. Shares in the chipmaker fell by more than 4 percent after the allegations surfaced.The board said it prioritises US national and economic security, and added that Huang fully supports the review. The controversy centres on reports that a former executive at a Singapore-based data centre company may have been recruited by Beijing... [Continue Reading]
Tokyo and Asia-Pacific close sharply mixed as Nikkei, Kospi slump while Hong Kong and Australia advance
Executive summary: Asia-Pacific trading ended with a stark split, as Japan and South Korea absorbed heavy selling while Hong Kong and Australia posted gains. The Nikkei 225 fell -6.8% to 58,775.5 and the Kospi dropped -14.3% to 5,018.85, while the Hang Seng rose +4.8% and the ASX 200 gained +2.0%. Commodities were firmer, with gold above 4,100, WTI crude up +1.7%, and platinum and palladium both higher, while the yen and yuan were little changed against the dollar. [Continue Reading]
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Tech and AI stocks plunge as Nasdaq loses $2.5tn after election-driven regulatory fears
Shares in major technology and artificial intelligence companies fell sharply on Thursday, deepening a market rout that wiped an estimated $2.5tn from the Nasdaq Composite. The selloff came as investors reacted to Democratic wins in key data-centre states and the prospect of tougher regulation on data centres and AI infrastructure. The losses also dragged down other major US indexes, with the S&P 500 and Dow Jones Industrial Average both closing lower.Nvidia fell more than 9%, while AMD and Micron each dropped by more than 17%. Intel was down 10.3%, and SanDisk plunged by more than 22%, underscoring how heavily exposed... [Continue Reading]
