EU tries to get closer to South America with trade deal
The European Union has signed a trade deal with four of South America’s biggest economies. European Commission president Ursula von der Leyen called the agreement a “truly historic milestone” in an “increasingly confrontational world”. A previous agreement in 2019 never came into force because not all EU member states were willing to ratify it. If this deal gets ratified by EU states, it means that companies trading between the two regional blocs will charge each other lower tariffs, use simplified customs procedures and it will give the EU easier access to raw materials. Ms von der Leyen told reporters in Montevideo it [Read More…]
What next for Bitcoin after bursting $100k barrier?
Bitcoin’s price has blasted through the much-anticipated threshold of $100,000, raising questions about how much higher it could go – and whether it can shake off its notorious volatility. The world’s largest cryptocurrency rose to around $103,400 shortly after 04:00 GMT on Thursday, before falling slightly. Dan Coatsworth, investment analyst at AJ Bell, described it as a “magic moment” for the cryptocurrency and said it had a “clear link” to Donald Trump’s election victory. Trump took to social media to celebrate the milestone, posting “congratulations Bitcoiners” and “you’re welcome!” The president-elect had previously pledged to make the US the “crypto capital” [Read More…]
North Korea, Russia and China watch on as crisis unfolds in key US ally South Korea
A night of political upheaval in South Korea has upended stability in a key democratic US ally – sending shock waves through the region and Washington at a moment of acute global tension. South Korean President Yoon Suk Yeol declared martial law on Tuesday night in a surprise decree that was reversed hours later following overwhelming opposition across the political spectrum for what was widely seen as a breach of the country’s vibrant democracy. The move, which Yoon claimed was necessary to “save the country against anti-state forces” trying to destroy the “constitutional order of liberal democracy,” was met by protests in Seoul and [Read More…]
Telegram U-turns and joins child safety scheme
After years of ignoring pleas to sign up to child protection schemes, the controversial messaging app Telegram has agreed to work with an internationally recognised body to stop the spread of child sexual abuse material (CSAM). The Internet Watch Foundation (IWF) is used by major online services to help them detect and remove CSAM, and prevent its spread. Telegram had repeatedly refused to engage with it or any similar scheme. But, four months after its founder Pavel Durov was arrested in Paris for Telegram’s alleged failure to moderate extreme content, the platform has announced a U-turn. The IWF has described Telegram’s decision as “transformational” [Read More…]
Germany’s Bosch MOU with Tencent
Global companies are entering China’s self-driving market one after another. This is because the Chinese market is larger than other regions and the technology growth rate is fast. According to foreign media on the 2nd, German auto parts maker Bosch recently signed a memorandum of understanding (MOU) with China’s largest information technology (IT) company, Tencent, to establish a cooperative system in various fields for autonomous driving services, including cloud computing. In particular, the contract was made as Tencent aggressively operates its artificial intelligence (AI) service “Hunyuan” to local electric vehicle manufacturers in China that develop next-generation smart cars. Tencent has [Read More…]
Trump threatens 100% tariff on Brics nations if they try to replace dollar
US President-elect Donald Trump has threatened to impose 100% tariffs on a bloc of nine nations if they were to create a rival currency to the US dollar. “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump wrote on social media on Saturday. Major world powers China and Russia are part of the Brics alliance, along with Brazil, India, South Africa, Iran, Egypt, Ethiopia and the United Arab Emirates. During the US election, Trump campaigned on implementing widespread tariffs. He has escalated threats of steep levies [Read More…]
Zelensky suggests war could end if unoccupied Ukraine comes under Nato
President Volodymyr Zelensky has suggested that the parts of Ukraine under his control should be taken “under the Nato umbrella” to try and stop the “hot phase” of the war. He was asked by Sky News whether he would accept Nato membership, but only on the territory that Kyiv currently holds. Zelensky said he would, but only if Nato membership was offered to the whole of Ukraine, within its internationally recognised borders, first. Ukraine could then attempt to negotiate the return of territory currently under Russian control “in a diplomatic way”, he said in a wide-ranging interview. But the suggestion [Read More…]
Australia approves social media ban on under-16s
Australia will ban children under 16 from using social media, after its parliament approved the world’s strictest laws. The ban, which will not take effect for at least 12 months, could see tech companies fined up to A$50m ($32.5m; £25.7m) if they don’t comply. Prime Minister Anthony Albanese says the legislation is needed to protect young people from the “harms” of social media, something many parent groups have echoed. But critics say questions over how the ban will work – and its impact on privacy and social connection – have been left unanswered. This is not the first attempt globally [Read More…]
No ‘red lines’ in Ukraine support, French foreign minister
There are no “red lines” when it comes to support for Ukraine, the French Foreign Minister. Jean-Noël Barrot said that Ukraine could fire French long-range missiles into Russia “in the logics of self defence”, but would not confirm if French weapons had already been used. “The principle has been set… our messages to President Zelensky have been well received,” he said in an exclusive interview for Sunday with Laura Kuenssberg. French President Macron indicated France’s willingness to allow its missiles to be fired into Russia earlier this year. But Barrot’s comments are significant, coming days after US and UK long-range [Read More…]
Satellite images show Russia giving N Korea oil, breaking sanctions
Russia is estimated to have supplied North Korea with more than a million barrels of oil since March this year, according to satellite imagery analysis from the Open Source Centre, a non-profit research group based in the UK. The oil is payment for the weapons and troops Pyongyang has sent Moscow to fuel its war in Ukraine, leading experts and UK Foreign Secretary, David Lammy. These transfers violate UN sanctions, which ban countries from selling oil to North Korea, except in small quantities, in an attempt to stifle its economy to prevent it from further developing nuclear weapons. The satellite [Read More…]