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Nuclear power, cyber troops and robot wolves – China’s army of the future on full display | World News

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China’s status as a military superpower was on full display as Beijing marked the 80th anniversary of the end of the Second World War.

Tens of thousands of troops, tanks and armoured vehicles moved through Tiananmen Square on Wednesday, along with a fearsome array of missiles. Fighter jets soared overhead.

While ostensibly a day to mark the decades since the end of the world’s biggest war, it’s clear that Xi Jinping was looking towards the future in the message he sent to the West.

“They want to advertise to the world that they’re doing old and new,” military analyst Michael Clarke told Sky News. “So they were showing the enormity of what they’ve got in in traditional terms, but also some of the new things.”

Indeed, the event featured many weapons and equipment that had never been seen in public before.

In this story, Sky News looks at what units and military hardware were on display in the Chinese capital.

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Flags flutter as soldiers participate in a military parade to mark the 80th anniversary of the end of the Second World War. Pic: Reuters

Land forces

Huge numbers of soldiers from various wings of China’s armed forces made up the bulk of the parade, marching in perfect lockstep in neat rows.

As well as the traditional elements from the army and navy, the procession also featured newer pieces like the cyberspace unit.

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The new unit is in charge of cybersecurity defence measures, the Xinhua state news agency says, and also took part in live-fire drills.

Another new unit was the information support force, which was created in 2024 to build network information systems to support military combat readiness.

Tanks as part of the military parade
Image:
Tanks as part of the military parade

Nuclear triad on display for the first time

Also rolling through the square were an array of missiles, including those that form China’s strategic nuclear capability.

For the first time, Beijing unveiled its nuclear triad of air, land and sea-based missiles.

visualization

This included the JL-1 air-based long-range missile, JL-3 submarine-launched intercontinental missile, DF-61 land-based intercontinental missile, and the new type DF-31 land-based intercontinental missile.

The weapons are China’s strategic “ace” power to safeguard the country’s sovereignty and nation’s dignity, according to Xinhua.

China is one of four countries known to possess a nuclear triad, along with the US, Russia and India.

YJ-17 hypersonic anti-ship missiles. Pic: Reuters
Image:
YJ-17 hypersonic anti-ship missiles. Pic: Reuters

Other missiles on display included hypersonic anti-ship missiles that China has previously tested against mockups of US aircraft carriers, such as the Yingji-19, Yingji-17 and Yingji-20.

“These are designed to frighten the United States,” Mr Clarke says, with reference to the Pacific Ocean where US warships patrol from their 7th Fleet headquarters in Japan.

Read more:
Analysis: President Xi’s message to the West
How China’s parade compares to other military spectacles

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Drones and robot wolves

China also put a number of its unmanned weapon systems on display, evidence of the changing nature of modern warfare.

Arguably the most interesting were the so-called ‘robot wolves’.

'Robot wolves' carried on vehicles
Image:
‘Robot wolves’ carried on vehicles

There were also underwater drones such as the AJX002, a long, black tube-shaped craft that looks like a narrow submarine with a rear propeller.

The military also showed off unmanned helicopters that are designed to be launched from ships.

Air-defence laser weapons that have been recently developed. Pic: Reuters
Image:
Air-defence laser weapons that have been recently developed. Pic: Reuters

Like other militaries, China has also been developing laser weapons to defend against drone attacks – one of which was on display today as well.

As attack drones get more advanced – and numerous – a counter drive to develop cheaper ways of shooting them down is ongoing.

“The one that they kept under wraps was this laser gun,” Mr Clarke said. “It was all under tarpaulin in the rehearsals – and suddenly there it was. It was like a big searchlight on a vehicle.

“Laser guns, despite James Bond films, are not quite as ground-breaking as people think, but there it was: a new laser gun.”

Air force

Beijing has developed a number of advanced aircraft in recent years, and several of them were on display on Wednesday.

Soaring above the parade were China’s two fifth-generation fighter jets, the Chengdu J-20 and Shenyang J-35A.

J-16D, J-20, and J-35A fighter jets fly over Tiananmen Square. Pic: Reuters
Image:
J-16D, J-20, and J-35A fighter jets fly over Tiananmen Square. Pic: Reuters

Both have stealth capabilities and are designed to try to rival the US air force’s F-35 jet.

China has two of the five fifth-generation fighter jets currently known to operate globally. The others are the American F-35 (also operated by the UK and other allies) and F-22, as well as the Russian Su-57.

China showing off its range – and numbers

“What they’re showing here is that they’ve got a full panoply of weapons systems,” Mr Clarke says, pointing to the various land, sea and air assets.

“Whether they can link them together in combined arms warfare, we don’t know, because they haven’t fought a major war since the 1950s… but on paper it’s extremely impressive.”

He added: “It’s not as big as the American military yet, but it certainly rivals it. And it certainly worries American military planners.”



This story originally appeared on Skynews

White House’s ‘Founders Museum’ blurs history, AI-generated fiction : NPR

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An AI-generated image of former President John Adams is part of an exhibit that is a partnership between the Trump administration and conservative nonprofit PragerU.

The White House/PragerU


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The White House/PragerU

A new history exhibit commissioned by the Trump administration has some historians perplexed, as the administration’s pushback on arts and history raises questions about omitting marginalized voices in the nation’s history.

Eighty-two paintings — including portraits of the 56 signers of the Declaration of Independence, as well as key events from America’s founding — make up The Founders Museum.

The exhibit, just steps from the White House inside the Eisenhower Executive Office Building, marks a partnership between the administration’s White House Task Force 250 and conservative nonprofit PragerU to celebrate the lead up to America’s semiquincentennial next year.

Besides paintings of Thomas Jefferson, Alexander Hamilton and Betsy Ross, the museum also features over 40 AI-generated short videos of these historical figures coming to life to share their stories — all available online and produced by PragerU.

In a statement to NPR, the White House said that the exhibit uses the power of AI so that “these people, places and events come to life, making history engaging to Americans across the country.”

“While the project to bring the Founders and the signers of the Declaration of Independence into focus is one that many historians admire and would support,” William G. Thomas, vice president of the research division at the American Historical Association, says, “I think there’s some concerns about how that’s done in this case.”

This includes concerns about how words and stories of real-life historical figures could be reshaped by their AI counterparts.

PragerU CEO Marissa Streit tells NPR that the videos were a joint effort between the White House team of experts, PragerU scholars, and widely referenced historical sources.

Blurring the lines between reality and fiction

The danger of projects like The Founders Museum, according to Brendan Gillis, director of teaching and learning for the American Historical Association, is that it focuses narrowly on a small set of experiences, making it seem like this is all the American Revolutionary history that we need to know. But, he says, “there’s many, many more people who shaped the American Revolution and kept this story going.”

One concern is how AI-generated videos can sometimes blur the line between reality and fiction. In one video, an artificially generated John Adams says, “Facts do not care about your feelings” — a phrase often used by conservative commentator and PragerU presenter Ben Shapiro.

“I have real concerns about the extent to which they weave together words that are preserved in primary sources from historical figures with other sort of commentary,” Gillis explains. “And it’s not always clear [when] the historical figures actually said the words that are coming out of their mouth, or wrote them down, and when this is the work of whoever scripted them.”

“Viewers should understand that the portrayals are careful interpretations — grounded in letters, speeches, and original writings from the period,” Streit said in response to concerns about the videos’ sourcing.

Other videos from the exhibit appear to gloss over key aspects of figures’ lives, leading to what can feel like broad strokes of history. Karin Wulf, a history professor at Brown University, points to Revolutionary writer and thinker Mercy Otis Warren as an example.

An AI-generated image of Revolutionary writer Mercy Otis Warren is part of an exhibit that is on display near the White House.

The White House/PragerU


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The White House/PragerU

“In the video, it acknowledges that she’s a writer, and that writing wasn’t something that women were encouraged to do, certainly in public,” Wulf says. “But it then has her say these kind of pablum pieces about patriotism and liberty that are so much less stringent and so much less potent than what she actually said at the time.”

Warren was infamously critical of the Founders, writing in her observations of the 1787 Philadelphia Convention, “America has, in many instances, resembled the conduct of a restless, vigorous, luxurious youth, prematurely emancipated from the authority of a parent, but without the experience necessary to direct him to act with dignity or discretion.”

“Give us five minutes, and we’ll give you a semester”

PragerU was founded by longtime conservative radio host Dennis Prager and his then-producer Allen Estrin in 2009 to promote conservative values through courses taught in five-minute videos.

“We used to say in the early days, ‘Give us five minutes, and we’ll give you a semester,'” Estrin told The New York Times in 2020.

PragerU openly admits it is not an accredited university. The nonprofit media organization produces thousands of “edutainment” videos on topics from history to science, garnering millions of views.

But PragerU has faced criticism for misleading and inaccurate content, most recently for an episode of its PragerU Kids series, Leo & Layla’s History Adventure, in which Christopher Columbus tells two time-traveling siblings, “Being taken as a slave is better than being killed, no? I don’t see the problem.”

PragerU Kids’ series, Leo & Layla’s History Adventure.

PragerU / Leo & Layla’s History Adventures


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PragerU / Leo & Layla’s History Adventures

Critics slammed the episode and others, accusing it of downplaying the historical significance of slavery and the experiences of enslaved peoples.

Streit says critics have misrepresented the videos and called the criticism “disingenuous.”

Defending the Columbus episode, Streit explains the reason they did not have him condemn slavery is because “that would be historically inaccurate.”

Streit says, “We don’t excuse it; in fact, we make clear that slavery is evil, explaining this in age-appropriate ways. At the same time, we teach that historical figures must be understood with the context and standards of their own era.”

American greatness and the voices of the marginalized 

PragerU plans to take The Founders Museum on the road with “mobile museum trucks” to cities across the country to give the public a chance to experience the exhibit in person ahead of America’s 250th birthday.

Streit, in an interview on PragerU’s website, says the company will be taking the opportunity during the semiquincentennial to “reignite patriotism and give some perspective that yes, America has its blemishes. Of course it does. But America is a great country. It has been a leader in greatness for so many years, and we want to teach that.”

The White House says it has sent letters to state governors and ambassadors encouraging them to put The Founders Museum in their state capitols, schools and embassies.

The Founders Museum unveiling coincides with President Trump’s criticisms of the Smithsonian Institution, especially exhibits on slavery, immigration and LGBTQ history.

“The history that best serves us as a country, and in our ambition for a full democracy and full freedom and liberty is for all, is the fullest history of all people. And if you look at the history of all the people, 40% were enslaved,” Wulf says.



This story originally appeared on NPR

Baby Boomers Are Still Gaining More Wealth Than Millennials

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Older Americans have seen their wealth rise tremendously in recent years, while other age groups have not been as lucky, according to a new paper.

Over a recent 40-year period, between 1983 to 2022, the relative household wealth of those now ages 75 years and older has “sharply risen” while the wealth of all other age groups has declined, New York University Economist Edward Wolff wrote in a new paper. The Americans whose wealth has outpaced all other generations are a part of the older Baby Boomers group, or those born before 1950.

Wolff used the Federal Reserve’s Survey of Consumer Finances to compare two age groups — 35 years and under and 75 and over — and found the main factors that drive generational wealth are high homeownership rates, high amounts of stocks owned, and low home mortgage debt.

Related: Home Sellers Now Outnumber Buyers in Record Numbers. Here’s What It Means for Home Prices.

Here’s how older Baby Boomers got so rich:

Homeownership rates

According to the U.S. Census Bureau, Baby Boomers own nearly 40% of all available homes in the U.S., even though they make up just 20% of the population. The National Association of Realtors estimated in April that the Baby Boomer generation accounted for 42% of all home buyers, with nearly half of all Boomers purchasing homes with cash.

Meanwhile, a Freddie Mac report from February 2024 found that, as Baby Boomers age, declining home ownership will cause 9.2 million homes to hit the market by 2035. The generation owned 32 million homes in the U.S. in 2022, but Freddie Mac predicted that the number would decline to 23 million by 2035.

Meanwhile, the National Association of Realtors estimated that home prices have almost doubled from 2014 to 2024, growing from a median of $217,100 in 2014 to $418,700 a decade later. In July 2025, median home prices hit another record high.

Stocks

When it comes to stocks owned, Boomers also stand out. According to The Kobeissi Letter, a commentary on global markets, Boomers held 54% of all U.S. corporate stocks and mutual funds in the first quarter of the year, compared to just 8% for millennials.

“The generational wealth divide is massive,” The Kobeissi Letter wrote in a post on X.

Home mortgage debt

Home mortgage debt, which refers to the amount owed as a result of buying a home, is also particularly low for older generations. According to Bankrate, the average mortgage balance in the final quarter of 2024 was $194,334 for Baby Boomers — much lower than the $312,014 balance attributed to Millennials (ages 28 to 43) or the $283,677 balance associated with Gen X (ages 44 to 59).

Mortgage debt is trending higher overall. The average U.S. mortgage debt was $252,505 in 2024, a close to $8,000 increase from the previous year, according to credit bureau Experian.

Related: Here’s How Much You Need to Make Per Year to Buy a Typical Home in the U.S., According to a New Report

Older Americans have seen their wealth rise tremendously in recent years, while other age groups have not been as lucky, according to a new paper.

Over a recent 40-year period, between 1983 to 2022, the relative household wealth of those now ages 75 years and older has “sharply risen” while the wealth of all other age groups has declined, New York University Economist Edward Wolff wrote in a new paper. The Americans whose wealth has outpaced all other generations are a part of the older Baby Boomers group, or those born before 1950.

Wolff used the Federal Reserve’s Survey of Consumer Finances to compare two age groups — 35 years and under and 75 and over — and found the main factors that drive generational wealth are high homeownership rates, high amounts of stocks owned, and low home mortgage debt.

The rest of this article is locked.

Join Entrepreneur+ today for access.




This story originally appeared on Entrepreneur

Baby Boomers Are Still Gaining More Wealth Than Millennials

0


Older Americans have seen their wealth rise tremendously in recent years, while other age groups have not been as lucky, according to a new paper.

Over a recent 40-year period, between 1983 to 2022, the relative household wealth of those now ages 75 years and older has “sharply risen” while the wealth of all other age groups has declined, New York University Economist Edward Wolff wrote in a new paper. The Americans whose wealth has outpaced all other generations are a part of the older Baby Boomers group, or those born before 1950.

Wolff used the Federal Reserve’s Survey of Consumer Finances to compare two age groups — 35 years and under and 75 and over — and found the main factors that drive generational wealth are high homeownership rates, high amounts of stocks owned, and low home mortgage debt.

Related: Home Sellers Now Outnumber Buyers in Record Numbers. Here’s What It Means for Home Prices.

Here’s how older Baby Boomers got so rich:

Homeownership rates

According to the U.S. Census Bureau, Baby Boomers own nearly 40% of all available homes in the U.S., even though they make up just 20% of the population. The National Association of Realtors estimated in April that the Baby Boomer generation accounted for 42% of all home buyers, with nearly half of all Boomers purchasing homes with cash.

Meanwhile, a Freddie Mac report from February 2024 found that, as Baby Boomers age, declining home ownership will cause 9.2 million homes to hit the market by 2035. The generation owned 32 million homes in the U.S. in 2022, but Freddie Mac predicted that the number would decline to 23 million by 2035.

Meanwhile, the National Association of Realtors estimated that home prices have almost doubled from 2014 to 2024, growing from a median of $217,100 in 2014 to $418,700 a decade later. In July 2025, median home prices hit another record high.

Stocks

When it comes to stocks owned, Boomers also stand out. According to The Kobeissi Letter, a commentary on global markets, Boomers held 54% of all U.S. corporate stocks and mutual funds in the first quarter of the year, compared to just 8% for millennials.

“The generational wealth divide is massive,” The Kobeissi Letter wrote in a post on X.

Home mortgage debt

Home mortgage debt, which refers to the amount owed as a result of buying a home, is also particularly low for older generations. According to Bankrate, the average mortgage balance in the final quarter of 2024 was $194,334 for Baby Boomers — much lower than the $312,014 balance attributed to Millennials (ages 28 to 43) or the $283,677 balance associated with Gen X (ages 44 to 59).

Mortgage debt is trending higher overall. The average U.S. mortgage debt was $252,505 in 2024, a close to $8,000 increase from the previous year, according to credit bureau Experian.

Related: Here’s How Much You Need to Make Per Year to Buy a Typical Home in the U.S., According to a New Report

Older Americans have seen their wealth rise tremendously in recent years, while other age groups have not been as lucky, according to a new paper.

Over a recent 40-year period, between 1983 to 2022, the relative household wealth of those now ages 75 years and older has “sharply risen” while the wealth of all other age groups has declined, New York University Economist Edward Wolff wrote in a new paper. The Americans whose wealth has outpaced all other generations are a part of the older Baby Boomers group, or those born before 1950.

Wolff used the Federal Reserve’s Survey of Consumer Finances to compare two age groups — 35 years and under and 75 and over — and found the main factors that drive generational wealth are high homeownership rates, high amounts of stocks owned, and low home mortgage debt.

The rest of this article is locked.

Join Entrepreneur+ today for access.




This story originally appeared on Entrepreneur

Amazon will restrict Prime benefit starting October 1

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The program, which allowed Amazon Prime members to share their shipping benefits with people outside their household that didn’t have a membership, will end on Oct. 1, according to the company’s website. 

An Amazon spokesperson confirmed to FOX Business that it is ending the Invitee program, which launched in 2009, and focusing its advertising on its Amazon Family program, which includes allowing members to share several membership benefits with one other adult in their household, up to four teens added before April 7, 2025, and up to four profiles for children.  

These benefits include fast and free delivery on Prime eligible items, access to exclusive Prime events and deals, Prime Video, Prime Reading and access to third-party benefits like Grubhub.   

Amazon didn’t disclose specific figures for its Prime membership in its latest earnings call.

However, they described the last Prime Day sale, which kicked off in July, as its “biggest Prime Day shopping event yet.”  

“This year’s Prime Day event was bigger than any previous four-day period that included a Prime Day event, with record sales and more items sold during the four days,”  Amazon posted in a July blog following the two-day shopping bonanza. 

The company also said independent sellers, most of which are small and medium-sized businesses, also achieved record sales and a record number of items sold. 

Amazon Prime members won’t be able to share their shipping benefits with people outside their household starting in October. REUTERS

Amazon Prime logo on a building.
An Amazon spokesperson said the company is focusing on promoting its Amazon Family program. REUTERS

Amazon has charged an annual fee of $139 for its Prime membership in the US since 2022.

That is an uptick from its previous cost of about $119 a year.

However, J.P.Morgan analyst Doug Anmuth said in a research note that the bank thinks the Seattle-based e-commerce giant could raise the price of its popular Amazon Prime membership in 2026.



This story originally appeared on NYPost

After a miserable summer for riders, MTA leaders need to stop dodging

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New York commuters aren’t imagining things: Though the MTA is trying to gloss over the facts, it was another rotten summer for the subways.

Data the agency released last week show an increase in major incidents underground, longer wait times and more delays caused by system disrepair.

The 138 incidents that delayed 50 or more trains in June and July marked worst for those months since 2018.

Responding to a Gothamist report on the new stats, NYC Transit big Bill Amarosa tried to paint the bad news as an illusion caused by the MTA changing how it tracks data in 2023, so that more delays get classified as “major incidents.”

First, note that switching up data-tracking methods is a favorite bureaucratic trick for frustrating critical use of data that must be made public.

Second, that still leaves performance worsening since 2023.

Plus, this isn’t the only data pointing to fresh woes this summer.

Specifically: The number of weekday train delays was roughly the same in 2025 as 2024 (one in five!) — but delays got more miserable, as the amount of time riders spent waiting (on a platform or in a train), compared to the scheduled wait time, hit a near five-year high.

For the real kicker, step back just a couple of weeks.

We fumed last month that the MTA is blowing $7 billion on the Second Avenue Subway expansion, yet begged the city for billions in March to fund much-needed infrastructure repair and preservation; Gov. Kathy Hochul’s office then pointed to a 2.4 percentage-point bump in weekday subway on-time performance for the first six months of the year as proof of system improvement.

Now new MTA data suggests things went downhill right after: More delays caused by “infrastructure and equipment” problems in July than in any month since 2020.

Indeed, a power outage near the West Fourth Street station left commuters across the city stranded during rush hour twice in one week at the tail end of July.

No doubt: The crumbling system is the chief cause of straphangers’ pain.

But the MTA keeps proving it’s not a good steward of the funding it gets, burning cash on projects like a $252 million emergency intercom system that gets flooded with prank calls — money that should be going to core system repairs and upgrades.

It doesn’t help that so many of the MTA’s projects end up years behind schedule and millions over budget.

Subway riders get the double-whammy of navigating constant construction and reroutes that are supposedly fixing a system that gets increasingly worse.

Any private-sector business would’ve cleaned up its act or been shut down a long time ago.

Yet the agency is never held accountable for its poor performance; the state just keeps finding new ways, like Hochul’s congestion-pricing scheme, to shovel more money into the bottomless pit.

New Yorkers aren’t dim: Despite all of the gaslighting, they can tell when their daily commutes get more grueling.

The MTA needs to quit with the excuses and start fixing the mismanagement that’s churning out such dismal results.

And its enablers in Albany need to start demanding better for their constituents — or be held accountable by voters.



This story originally appeared on NYPost

U.S. pulls TSMC’s waiver for China shipments of chip supplies

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The U.S. has revoked Taiwan Semiconductor Manufacturing Co.’s authorization to freely ship essential gear to its main Chinese chipmaking base, potentially curtailing its production capabilities at that older-generation facility.

American officials recently informed TSMC of their decision to end the Taiwanese chipmaker’s so-called validated end user, or VEU, status for its Nanjing site. The action mirrors steps the U.S. took to revoke VEU designations for China facilities owned by Samsung Electronics Co. and SK Hynix Inc. The waivers are set to expire in about four months. 

Washington’s move means that TSMC, Samsung and SK Hynix’s suppliers will have to apply for individual approvals when they want to ship semiconductor equipment and other gear covered by U.S. export controls to the affected China facilities, instead of the blanket authorization those suppliers currently have because of the plants’ VEU status. 

TSMC’s shares slid as much as 1.3% in Taipei, while suppliers including Tokyo Electron Ltd. fell about 2%. 

“TSMC has received notification from the U.S. government that our VEU authorization for TSMC Nanjing will be revoked effective Dec. 31, 2025,” the company said in a statement. “While we are evaluating the situation and taking appropriate measures, including communicating with the U.S. government, we remain fully committed to ensuring the uninterrupted operation of TSMC Nanjing.”

The revocation adds new hurdles to the China operations of some of the most important companies in the semiconductor sector, hailing from two chipmaking powerhouses that are also U.S. allies. While U.S. officials have said they intend to issue licenses needed to keep those facilities operational, the shift introduces some uncertainty about wait times to actually secure those permits. In a statement, Taiwan’s Ministry of Economic Affairs said that revocation of the U.S. waiver would impact the predictability of the Nanjing plant’s operations. 

Officials are currently working on solutions to ease the bureaucratic burden, people familiar with the matter said, particularly given a significant volume of existing license requests. Revoking Samsung and SK Hynix’s VEU status, for example, will require U.S. officials to process an additional 1,000 permits annually, according to a federal notice

Compared with Samsung and SK Hynix, which house a sizable share of their production in China, TSMC’s manufacturing footprint in the world’s second-largest economy is relatively small. The company’s Nanjing site began production in 2018 and contributed a small fraction of TSMC’s total revenue last year—and roughly 3% of the company’s overall production capacity, according to the Taiwanese ministry. 

The U.S. move will not affect the competitiveness of Taiwan’s chip industry, the ministry said. The campus in question houses technology as advanced as the 16-nanometer process, which first became commercially available more than a decade ago.

The situation highlights the extent of Washington’s influence in, and control over, the supply chain for electronic components that power everything from microwaves to phones to data centers training artificial intelligence algorithms—even when the plants in question are operated by three non-American companies in a foreign country. 

The U.S. has broadly limited China’s access to materials and equipment that could be used to make advanced chips, part of a suite of controls designed to limit the Asian nation’s AI prowess. The export curbs affect sales not just to Chinese companies, but any facilities that are physically within the country—including Samsung, SK Hynix and TSMC’s plants. 

Under President Joe Biden’s administration, the trio of companies secured an indefinite waiver to continue making shipments to their China facilities, so long as they comply with security requirements and disclose certain information to the U.S. government. That VEU designation—which U.S. officials announced for Samsung and SK Hynix, and which TSMC publicized in an annual report—was a top priority for the chipmakers and foreign government officials, given that semiconductor plants require regular imports of everything from spare parts to chemicals.

Losing the waivers introduces some uncertainty for top suppliers to TSMC, Samsung and SK Hynix—including machinery companies like Applied Materials Inc., ASML Holding NV, Tokyo Electron and KLA Corp. ASML declined to comment, while Applied Materials had no immediate comment. KLA and Tokyo Electron didn’t respond to requests for comment.

Shares of Applied Materials and KLA fell in New York trading on Tuesday, as did depositary receipts for ASML, with losses outpacing declines in the broader market. 

The Commerce Department’s Bureau of Industry and Security, which oversees semiconductor export controls, announced its VEU decision for the two South Korean companies last week, saying that the U.S. was closing “export control loopholes” that put American companies “at a competitive disadvantage.” 

The agency also formally rescinded Samsung and SK Hynix’s VEU status in the federal register, a public account of U.S. regulations—and they did the same for a VEU designation given to Intel Corp., for a facility in Dalian, China, that SK Hynix has since acquired. BIS did not respond to a request for comment about TSMC’s waiver being revoked. 

Because TSMC’s VEU status was never published in the federal register in the first place, there was not a public regulation for BIS to amend in the same way as for the other affected companies. All told, though, the net effect on TSMC, Samsung and SK Hynix’s waivers is the same.



This story originally appeared on Fortune

Just over £119 now, AstraZeneca’s share price looks cheap to me anywhere under £220.91

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Image source: Getty Images

AstraZeneca’s (LSE: AZN) share price has dropped 11% from its 3 September 12-month traded high of £133.38.

Fears of additional US sanctions have weighed on it, as have concerns over ongoing investigations into its China business. Each remains a risk to the firm’s future earnings.

That said, I think June’s trade deal with the US reduces the chance of more tariffs being imposed on the UK’s firms. And even if they are, I do not believe that Washington’s current trade protectionism will continue too long after President Donald Trump’s current term.

China has released no further updates on its examination of AstraZeneca’s business there, which constitutes 13% of the firm’s revenues. As it was, the pharmaceutical giant said it had only received a notice for suspected unpaid importation taxes of $1.6m (£1.2m). It has also repeatedly stated that it has made no illegal gains in the country.  

Moreover, its 29 July H1 results showed that its sales in China over the period were up 4% to $3.515bn. In the same period last year, they were down 1%.

So, I wonder if now is the right time for me to buy more of the stock?

Are the shares undervalued?

My starting point in this price assessment is to compare AstraZeneca’s key valuations with those of its peers.

On the price-to-sales ratio, it is trading at 4.4 – bottom of the group of its competitors, which average 8.5.

These firms comprise Novo Nordisk at 5.1, AbbVie at 6.3, Pfizer at 10.3, and Eli Lilly at 12.4.

So it is very cheap on this basis.

The same is true of its 5.6 price-to-book ratio compared to its peer group’s average of 17.1.

And it is also the case with AstraZeneca’s price-to-earnings ratio of 30 against the 47.6 average of its competitors.

The second part of my price evaluation involves running a discounted cash flow analysis. This highlights where any firm’s share price should be trading, based on cash flow forecasts for the underlying business.

In AstraZeneca’s case, it shows the shares are 46% undervalued at their current £119.29 price.

Therefore, their fair value is £220.91.

Consequently, they look cheap to me anywhere under that level.

Does the firm’s performance support this view?

Its H1 results showed revenue increase 11% year on year to $28.045bn, driven by double-digit growth in Oncology and Biopharmaceuticals. Growth was seen across all major geographic regions, with the US leading the way on a 12% rise.

Operating profit leapt 24% to $7.182bn, while profit after tax soared 32% to $5.369bn. Earnings per share rose by the same percentage, to $3.46.

H1 also saw 12 positive key Phase III trial results, including for Baxdrostat, Gefurulimab, and Tagrisso. These are respectively aimed at treating hypertension, autoimmune disease, and lung cancer.

Cementing its links to the US, the firm also highlighted its recent plan to invest $50bn for growth there. This is part of its positioning to deliver $80 billion of revenue by 2030, against $54.073bn in 2024.

Will I buy more?

Consensus analysts’ forecasts are that AstraZeneca’s earnings will increase by 14.4% a year to end-2027.

It is ultimately this growth that powers any firm’s share price higher over time.

Given this, and their extreme undervaluation, I will buy more of the shares very shortly.



This story originally appeared on Motley Fool

The rise of Chloe Malle at Vogue

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On September 2, Vogue announced that longtime insider Chloe Malle would become its new Head of Editorial Content for the U.S. edition. The decision marks a defining step in Anna Wintour’s carefully orchestrated succession plan. Wintour, now global editorial director and Condé Nast Chief Content Officer, will remain deeply involved at the top of the brand. This is not a handoff but a recalibration. The rise of Chloe Malle signals both continuity and change, and the fashion world is watching with equal measures of excitement and scrutiny.

Chloe Malle: A professional biography

After graduating from Brown University in comparative literature and writing, Chloe Malle began her career at the New York Observer, where she worked on the city desk and covered real estate, culture, and civic life. Freelance bylines soon followed in the New York Times, the Wall Street Journal, and Architectural Digest. In 2011, she joined Vogue as Social Editor and gradually climbed through the masthead as Contributing Editor, then Vogue.com Editor, and co-host of The Run Through podcast.

Under her leadership, Vogue.com doubled direct traffic. Readership for wedding coverage grew by 30 per cent. She launched digital franchises such as Dogue and the Vogue Vintage Guide, showing a flair for playfulness as well as audience growth. One of her signature moments was the exclusive coverage of Lauren Sanchez and Jeff Bezos’ wedding, which illustrated her ability to translate access into editorial impact.

Source: Lematin.ch / ©AFP

The person behind the title

Born in New York in 1985, Chloe Malle spent part of her childhood in Los Angeles while her mother filmed Murphy Brown, before returning to New York. She attended Riverdale Country School and Brown University. She is married and has two children. Her personal lineage adds cultural irony, as her mother once played a Vogue editor in a Sex and the City cameo.

Her interests, style, convictions

Malle has openly called herself a proud nepo baby, a candid reference to her being the daughter of Candice Bergen and Louis Malle. She has acknowledged the privilege but has insisted that it sharpened her work ethic. She once admitted that fashion was not her main interest when she joined Vogue, confessing that she wanted to be a writer but was seduced by the magazine’s force. That duality shapes her editorial perspective.

Anna Wintour praised Malle’s ability to balance history with the demands of today, describing her as warm, inclusive, and wise. Malle’s work has consistently shown a reporter’s attention to story rather than spectacle. From the White House wedding of Naomi Biden to cultural profiles in podcasts, her editorial identity leans toward curiosity and narrative depth.

Why Editor and not Editor in Chief

The title is precise. Vogue U.S. no longer has an Editor in Chief. Condé Nast has replaced that title with Head of Editorial Content across its international editions. Malle now holds that role for the American market, while Anna Wintour continues as global editorial director and Condé Nast Chief Content Officer. The structure centralises authority but still allows local leaders operational freedom.

Chloe Malle and Anna wintour
source: Out.com / © CLIVE BRUNSKILL/GETTY IMAGES; TAYLOR HILL/FILMMAGIC VIA GETTY IMAGES

Anna Wintour remains at Vogue.

Anna Wintour has not left. She continues to direct global strategy, significant events such as the Met Gala, and the cultural footprint of Condé Nast. The choice to keep her in place reflects continuity for advertisers, designers, and celebrities who rely on Vogue’s global platform. Malle manages daily output while Wintour preserves the institution’s aura. The arrangement reflects dual leadership: tradition and transformation side by side.

Why Anna Wintour chose Chloe Malle

Anna Wintour’s public comments on the appointment were telling. She said she had one chance to get it right and praised Malle’s originality, diligence, and ability to carry Vogue’s history and its digital future simultaneously. Industry voices described the selection as pragmatic and rational. Lauren Sherman, a prominent fashion journalist, called it a practical and reasonable choice that prioritised competence over spectacle.

The choice was not about glamour but about proven results. Malle had already delivered measurable audience growth, successful digital franchises, and exclusive features that rippled across media. For Anna Wintour, who has long rewarded those who understand Vogue’s machinery from the inside, Chloe Malle was the logical candidate.

Chloe Malle editor Vogue US
Source: Vogue.com / ©Photographed by Jeff Henrikson

Speculation versus decision

In the months before the announcement, speculation filled the press. Names such as Chioma Nnadi in London and Jo Ellison of the Financial Times circulated among serious insiders. Celebrities from Meghan Markle to Kim Kardashian appeared in tabloids as long-shot guesses. In the end, the practical favourite prevailed. Chloe Malle was chosen for a record of editorial achievement rather than for notoriety.

What to expect from Chloe Malle’s Vogue

Readers can expect greater newsroom synchronicity. Digital storytelling will become more immediate, podcasts more central, and cross-platform narratives more tightly coordinated. Print editions may appear less frequently but are expected to carry a higher collectable value.

Vogue’s print footprint has been shrinking. The September issue, once nearly one thousand pages, now sits closer to three hundred sixty-five. Critics question whether digital momentum alone can sustain the prestige that print once embodied. Another risk is proximity to Anna Wintour, which may blur perceptions of Chloe Malle’s independence.

Print will still serve as a gallery for definitive images and profiles. Digital will continue to function as the fast-moving engine. Chloe Malle’s instincts as a writer and cultural observer will shape content, maintaining a blend of curiosity and authority.

Voices and testimonials

Chloe Malle said on her appointment, “I am so thrilled and awed to be part of this. I also feel incredibly fortunate to have Anna just down the hall as my mentor.”

Anna Wintour stated, “Chloe has proven she can balance Vogue’s long, singular history with its future on the front lines of the new.”

Chloe Malle has also reflected on her background, noting, “There is no question that I have benefited from the privilege I grew up in. It made me work much harder.”

Her earlier recollection about joining Vogue was equally candid. “I was hesitant when I was interviewing because fashion is not one of my main interests in life. I wanted to be a writer, but the Vogue machine seduced me.”

Industry voices echoed these sentiments. Spanish daily El País called her the pragmatic choice, collaborative and digitally attuned. The Washington Post highlighted her broad range across books, podcasts, and online journalism. The New York Post warned of challenges in reviving print but acknowledged her focus on thematic storytelling as a promising path.

The larger signal to fashion

Chloe Malle’s appointment signals to the industry that heritage brands can adapt by subtle evolution rather than by rupture. Designers see continuity of coverage and influence. Advertisers know an editor who understands measurable growth. Readers see a magazine committed to staying relevant across platforms. This is a cautious pivot, not a revolution.

To conclude,

Chloe Malle represents agility and storytelling depth. For the industry, she embodies continuity with measurable growth. For Condé Nast, she is the proof that succession can be managed without destabilising a global brand.

The rise of Chloe Malle is not a revolution but a recalibration. She brings pace, tact, and quiet ambition to a magazine that must reconcile heritage with digital urgency. Anna Wintour remains the compass while Malle becomes the engine. The duet will define Vogue’s future. If it works, Vogue will continue to set the cultural weather. If it falters, it will expose how fragile legacy can be. Fashion thrives on reinvention, and this new chapter is exactly that. In the end, Chloe Malle is both the story and the storyteller, and Vogue is once again ready to make the cut that everyone will notice.

José Amorim
This article was created exclusively for LuxuryActivist.com. All content is protected by copyright. Images are used for illustrative purposes under fair use. If you own the rights to any image and wish it to be removed, please don’t hesitate to contact us, and we will act promptly.



This story originally appeared on Luxuryactivist

Flo Rida Shares Powerful Message About Divine Favor And Grace

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Instagram/@official_flo

Flo Rida attracted a wide range of comments during the post where he attempted to describe a poignant message with the words, “GOD FAVORS YOU.” In addition to the #blessed, #favor, #love, and #Jesus hashtags and the caption, his post could clearly summarize his view of faith. The caption inscription along with this post had “GOD FAVORS YOU” and Flo Rida was very keen to describe and elucidate it meaning. The latter part showed lines like, “In your trial, in your test, in your heart,” and “Don’t worry about everything, attack your character, attack your integrity,” Flo Rida focused on battling challenges, values implementation, and the preservation of set life values in the latter part of this post’s video.

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Perspectives and comments in response to Flo Rida’s post carry an immense load of praise and appreciation of the relevance of the post to situations in followers’ life. “Needed to hear this. God is good!!!” came the praises of one user and “Wow the comfort one can draw from a post like this! Appreciate it.” came from another, highlighting the unpredictably soothing and strengthening power of celebrity posts with reference to Flo Rida’s post from a different angle. Offers the celebration of the day’s little progress, via the form of day’s few encouragements, in gestures from the celebrities, Flo Rida provided it in the form of his comments. Needed this reminder brother! Flo Rida, the persona they admire, is good! impacting.

Flo Rida’s comments also triggered flows of appreciation, pointing to his cultural significance. He is referred to as “FLÓRIDA BRAZILIAN E USA,” which celebrates his recognition and acceptance in different regions of the world. Fans also delighted in casual chatting, “Send me one case of that JETSET1 big dawg,” referencing the energy drink branded to Flo Rida, which, on the surface, jokingly implies his talk will shift focus to his drink line and add a fun element to the conversation.

In the middle of these wonderful discussions; their faith in a popular person makes them feel a connection to each other and provides a drive to each other. Here, there’s a noticeable balance of cheers and direct responses and complete appreciation. Silence is not an option — they are willing to talk about their feelings in support of other faiths and their interactions are making the internet peaceful and even more reopened toward secure spiritual offerings.

Flo Rida’s original name is Tramar Dillard, and he is known for expressing positivity in his music. His goal is to motivate and uplift others which he has inspired to do globally. It is to be noted that he started his career from scratch and has never disconnected from his roots and his old life which he had spent in the hood. He became famous and continued to keep that energy towards progressing in and enjoying his life. He was praised in every corner not just the hood, but the whole world. People and fans are claiming that he is a show of faith and through his actions it can be said he is grounded with a lot of respect, no matter how much his fame has grown. His most recent posts show that he is generously entertaining and it is evident that he is giving motivation to society as well.

In direct contrast to debates surrounding faith, it is worth noting that positive dialogue is all that follows from the mention of faith by a celebrity. If any issues are brought up at all, I feel confident it will revolve around the location of the message, not its contents—this change can be attributed to the perseverance in spreading positivity through faith from the part of Flo Rida.

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Given the intense focus on materialism and wealth within the entertainment industry, it is commendable for Flo Rida to share insights into his own faith journey. This form of expressive spirituality presents an alternative layer to the music that people are usually enjoying by Flo Rida. Moreover, this awakens the conscience of the listeners, who suddenly realize that there is a person with moral principles traveling and creating music. To a great degree, they can be said to find solace in the fact that this part of the world is rather patient and that it can be nursed back to health from.




This story originally appeared on Celebrityinsider