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Department Of Justice Sues To Break Up Conert Ticket Giant
The Justice Department and a group of states plan to sue Live Nation LYV -0.57%decrease; red down pointing triangle on Thursday, alleging the entertainment giant has used its ticketing monopoly to suppress competition and should be broken up, according to people familiar with the matter.
The lawsuit, to be filed in a New York federal court, would seek changes to the company’s business practices, including by asking a judge to effectively undo the 2010 merger of Live Nation and Ticketmaster. The Justice Department during the Obama administration allowed the merger to close despite concer… Read more
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U.S. House Urges Investigation into Chinese Swimmers' Doping Allegations
The U.S. House of Representatives has called for a comprehensive investigation into allegations of doping among Chinese swimmers. This bipartisan move seeks to involve both the Department of Justice (DOJ) and the International Olympic Committee (IOC) in probing the claims that 23 Chinese swimmers tested positive for the banned substance trimetazidine before the Tokyo Olympics in 2021. The World Anti-Doping Agency (WADA) confirmed these findings, which have led to increased scrutiny ahead of the Paris Olympics. Chinese authorities previously concluded that the positive tests resulted from accidental exposure due to contamination, a claim that has prompted further international calls for transparency and accountability in sports.
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Nickel Prices Skyrocket Amid Unrest in New Caledonia
Global nickel prices have surged following a wave of deadly violence in New Caledonia, a key nickel-producing French Pacific territory. The unrest has disrupted nickel supply chains, causing concern among manufacturers and investors worldwide. Nickel, a critical raw material for electric vehicle batteries, coins, and armor plating, has seen its value increase significantly. The European Union has designated nickel as a critical raw material, highlighting its importance to the global economy. The situation in New Caledonia underscores the delicate balance between geopolitical stability and commodity markets.
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Turbulence Ahead: How Climate Change is Making Air Travel More Perilous
The skies are becoming increasingly unfriendly, not due to crowded flight paths or delays, but because of the intensifying turbulence caused by climate change. Experts warn that the phenomenon is set to worsen in the coming years, making air travel more dangerous and unpredictable. Atmospheric scientists, including Professor Paul Williams from the University of Reading, have highlighted the direct link between the warming planet and the increase in severe turbulence. This unsettling trend not only poses a risk to passenger safety but also challenges the aviation industry to adapt to these cha… Read more
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UK Will Hold General Election In July
Rishi Sunak will call a general election for 4 July, Sky News understands.
The prime minister will make a statement in Downing Street at 5pm, when he is expected to name the date of the vote.
The surprise move comes as the Tories trail Labour by 20 points in the polls, and face being ousted by the Opposition after 14 years in government.
Mr Sunak may be gambling on the fact that the improving economic outlook will give him a fighting chance of winning.
Earlier today, the Tory leader declared inflation was "back to normal" in a "major milestone" for the country, following official figures showing inflation slowed to 2.3% in April
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Who’s in More Trouble: Israel or Iran?
The single most serious risk to Israel, as the former Iranian president Akbar Rafsanjani once put it, is that: “The use of even one nuclear bomb inside Israel will destroy everything, however it would only harm the Islamic world. It is not irrational to contemplate such an eventuality.” Iran’s expanding nuclear capabilities (and its opacity about them) should alarm the Western world a lot more than apparently it does.
But the dangers to Israel from moves at the I.C.C. — or, for that matter, from campus protests, boycott and divestment efforts or various kinds of arms… Read more
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A Chinese Phone Maker Did Something Apple Couldn’t: Make an EV
Xiaomi is a Chinese company known for its rice cookers, robot vacuums, air purifiers and smartphones. Now, it has pulled off what Apple, its longtime rival, couldn’t: Make an electric car and bring it to market.
And it did it in three years.
To save on time and costs, the company adopted practices from Tesla and other automakers, mined its own product-development know-how and plugged into China’s fast-moving car supply chain. Years of honing laptops, blenders and petcams helped it develop features tailored to a fickle consumer base, including a detachable panel of physical buttons… Read more
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China Launches AI ChatBot Trained On "Presidents Thought"
Beijing’s latest attempt to control how artificial intelligence informs Chinese internet users has been rolled out as a chatbot trained on the thoughts of President Xi Jinping.
The country’s newest large language model has been learning from its leader’s political philosophy, known as “Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era”, as well as other official literature provided by the Cyberspace Administration of China.
“The expertise and authority of the corpus ensures the professionalism of the generated content,” CAC&rs… Read more
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UN Halts Food Distribution in Gaza's Rafah Amid Supply Crisis
The United Nations has announced a halt to all food distribution operations in the southern Gaza city of Rafah, citing a critical shortage of supplies and escalating insecurity in the area. This suspension comes as a direct consequence of the intensifying military operations by Israel in eastern Rafah, which have severely impacted the UN's ability to access and distribute essential food supplies to the region's vulnerable populations. The UN agency for Palestinian refugees, Unrwa, alongside the World Food Programme, has reported that their distribution centers and warehouses in Rafa… Read more
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China escalates trade war with sanctions on U.S. defense companies
The sanctions target prominent American defence corporations such as Lockheed Martin Missiles and Fire Control, Lockheed Martin Aeronautics, Javelin Joint Venture, Raytheon Systems, General Dynamics Armament and Tactical Systems, among others. The Chinese government has declared it will freeze its assets within China, impacting both movable and immovable property.
Flashpoints such as Taiwan and the South China Sea must be monitored closely through the decade's end. With the world fracturing into a multipolar state, conflict risk is elevated.
Last month, US Adm. John Aquilino, commander of the US Indo-Pacific Command, warned the timeline for Chinese President Xi Jinping to invade Taiwan is by 2027.
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UK accuses China of providing ‘lethal aid’ to Russia for Ukraine war
UK defense secretary Grant Shapps has accused China of providing or preparing to provide Russia with “lethal aid” for use by Moscow in its war against Ukraine. “Today I can reveal that we have evidence that Russia and China are collaborating on combat equipment for use in Ukraine,” Shapps told a defence conference in London on Wednesday.
The defence secretary said new US and British intelligence showed “lethal aid is now or will be flowing from China to Russia and into Ukraine”, which Shapps said was “a significant development”. His comments appe… Read more
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Russia Launches Space Weapon
On Tuesday, Gen Ryder said the Pentagon believed the Russian satellite was "presumably capable of attacking other satellites in low Earth orbit".
The satellite – called Cosmos 2576 – into low Earth orbit which the Pentagon has said is likely capable of launching attacks against their own.
"Russia deployed this new counter space weapon into the same orbit as a US government satellite.
Brigadier General Pat Ryder said it is the same orbit as the US government satellite USA 314, adding the country is ‘on stand-by’ to protect its interests.
Russia had previously warned any satellite seen as aiding Ukraine will become ‘legitimate targets’, and claimed the US wants to turn space into an ‘arena for military confrontation’.
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Norway, Ireland, Spain recognize Palestinian state
The leaders of Norway, Ireland and Spain have said their countries will formally recognise Palestine as a state next week for the sake of “peace in the Middle East“, prompting Israel to immediately recall its envoys.
Norway’s Prime Minister Jonas Gahr Store said on Wednesday that a two-state solution was in Israel’s best interest and the recognition of Palestinian statehood would come as of May 28.
“There cannot be peace in the Middle East if there is no recognition,” he said in Oslo.
Ireland’s prime minister Simon Harris made a similar announcement in… Read more
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Crypto Clout: The Industry's Big Bet on Political Influence
The cryptocurrency industry is making a bold move in the political arena, amassing a significant war chest in an effort to sway the upcoming elections in its favor. With over $85 million raised by a trio of super political-action committees (PACs), the industry is not just playing the game; it's aiming to redefine it. This strategic push to elect industry-friendly politicians comes at a critical juncture, as regulatory pressures mount and the future of digital currencies hangs in the balance.
The stakes have never been higher for the crypto sector, which finds itself at a crossroads. Faci… Read more
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Historic Recognition: Norway, Ireland, and Spain Acknowledge Palestinian State
In a groundbreaking move that marks a significant shift in international diplomacy, Norway, Ireland, and Spain have officially recognized a Palestinian state. This historic decision, announced on Wednesday, has sparked a wave of reactions across the globe, from jubilation among Palestinians to stern condemnation from Israel. The coordinated action by these three European nations underscores a growing sentiment within the international community towards the necessity of acknowledging Palestinian statehood as a step towards achieving lasting peace in the Middle East.
The announcement has not onl… Read more
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Biden Releases 1 Million Barrels of Gasoline
The Biden administration announced on Tuesday that it would sell off one million barrels of gasoline over the coming weeks from a strategic reserve in the Northeast, a move it said was designed to keep gasoline prices in check for consumers ahead of the July 4 holiday.
The sale of the government-owned stock was mandated by Congress in the spending bill it passed in March, and will culminate in the closure of the reserve, which has facilities in the New York Harbor area and Maine. The gasoline will be allocated in quantities of 100,000 barrels, which will be sold through a competitive bidding… Read more
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Netanyahu Backs Trump Over Biden
Netanyahu has not driven Israel into its current dead end alone. For years his settlement project and Iran policies were given cover by AIPAC, America’s pro-Israel lobby; the Conference of Presidents of Major American Jewish Organizations; the American Jewish Committee; and knee-jerk supporters in both the Republican and Democratic Parties.
And unfortunately, I don’t think President Biden fully understands his “old friend” Bibi, whose government is the first to ever formally declare annexation of the West Bank as its goal and actually tried to strip the Supreme Court… Read more
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1 Million Civilians Flee Gaza In "Horrific Circumstances"
“We’re dealing with horrific circumstances,” said Khalil el-Halabi, a retired U.N. official in his 70s who left Rafah last week for Al-Mawasi, a beachside area that Israel has designated as a “humanitarian zone.”
“We don’t have what we need,” Mr. Halabi said. “We can barely even find water.”
More than 800,000 people have left Rafah in the past two weeks, a United Nations official said on Monday. Israel’s military said the same day that more than 950,000 civilians in the city had relocated since it gave expanded evacuation orders.… Read more
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