US President Threatens New Export Controls on China
The escalating trade war between the US and China has taken a new turn as US President Donald Trump threatens new “large scale” export controls on China. This move, seen by many as a radical step, is likely to have significant implications for both countries and the global economy. President Trump’s approach towards China has been characterized by a hardline stance, with these latest threats indicating a further escalation of the ongoing trade dispute.
China, on its part, has squarely blamed Trump and the US for escalating the trade war. The Chinese government has repeatedly called for a resolution through dialogues and negotiations, insisting on mutual respect and equality. However, the recent developments suggest that the path to de-escalation might be far from smooth.
For more details on the escalating trade war, check this link.
Wall Street Investment Banks Wrap Up a Record-Breaking Quarter
Despite the challenges posed by the global pandemic, Wall Street investment banks have just wrapped up a record-breaking quarter. Revenues are poised to top $9bn, reflecting the resilience and adaptability of these financial institutions in the face of economic adversity. These figures are a testament to the robustness of the US financial sector and its ability to weather economic storms.
For more on Wall Street’s record-breaking revenues, click this link.
European Lawmakers’ Side Hustles Raise Ethical Questions
Reports have emerged that dozens of Members of the European Parliament (MEPs) are earning income from side jobs connected to their legislative responsibilities. These side jobs, mostly in sectors where they steer EU laws, have raised concerns about potential conflicts of interest and the integrity of the legislative process. The public’s trust in these lawmakers could be undermined if they are seen to be influencing laws for their personal gain.
To know more about the side jobs of MEPs, follow this link.
Ownership Structure Complicates OpenAI’s Fundraising Efforts
OpenAI, the artificial intelligence research lab, is reportedly finding it difficult to raise money due to its ownership structure. The issue lies in the fact that the company’s current structure complicates investor payouts, making it less attractive to potential investors. This has led to questions about the sustainability and viability of the company’s business model.
For a deeper understanding of OpenAI’s ownership struggles, visit this link.
For further reading, check out ‘Toxic Legacy’ from the FT’s Untold podcast here.
For a transcript of this episode, visit FT.com here.
Access our accessibility guide here.
The source link for this article can be found here.
