World News
China to let local govt officials buy affordable housing at 'reasonable' prices
China plans to allow local government authorities to purchase affordable housing at reasonable prices, and promote the disposal of sold but difficult-to-deliver housing projects.
International Energy Agency warns of key energy mineral shortage risk
The International Energy Agency (IEA) has reported a sharp drop in prices for minerals essential for the green energy transition, indicating a shortage due to inadequate investment. The agency noted that prices for minerals key for electric vehicles, wind turbines, and solar panels fell back to pre-pandemic levels as supplies caught up with and surpassed demand. The IEA expressed concern that this may deter investment needed to meet demand, which is set to soar as many nations phase out sales of new internal combustion engine cars in the next decade.
Severe storms kill at least 4 in Houston, cause widespread power outages
Severe thunderstorms hit southeastern Texas, causing four deaths, flash floods, power outages affecting nearly 900,000 homes in Houston area. Tornadoes were possible. National Weather Service issued warnings.
Taiwan is selling more to the US than China in major shift away from Beijing
Taiwan is shifting its focus away from China, the world's second-largest economy, and towards the United States. The world's largest computer chip maker, TSMC, announced bigger investments in the U.S. last month after a boost from the Biden administration. Taiwanese semiconductor company ended its two-decade-long run in mainland China amid a global race to gain the edge in the high-tech industry.
Russian President Vladimir Putin to push growing Moscow-Beijing trade in China's northeast
Russian President Vladimir Putin concluded his visit to China by highlighting the importance of trade near the border in China's northeast. Amid Western sanctions over the Ukraine invasion, Putin is strengthening ties with China, signing agreements on security and economic cooperation. The joint statement emphasizes the deepening China-Russia relationship and their commitment to mutual development.
Severe storms kill at least 4 in Houston, cause widespread power outages
Severe thunderstorms struck southeastern Texas for the second time this month causing at least four deaths. There was widespread power outages affecting nearly 900,000 homes. Windows in high-rise buildings were shattered and significant damage was caused from downed trees and flooding. Flash flood and severe thunderstorm warnings were issued for multiple counties, with the National Weather Service advising residents to seek shelter.
Russians, Chinese are brothers forever: Putin speaks highly of bilateral ties on China visit
Speaking ahead of a concert dedicated to the 75th anniversary of the establishment of diplomatic relations between the two countries and the start of the Cross-Cultural Years, Putin expressed confidence in the continuation of cordial ties between the two countries.
US teen dies after doing spicy chip challenge: Autopsy
14-year-old Harris Wolobah died of cardiac arrest after participating in the 'One Chip Challenge' with a chip dusted with Carolina Reaper and Naga Viper peppers. The autopsy revealed he ingested capsaicin and had an enlarged heart. California youths were hospitalized, and Minnesota participants fell ill. Paqui removed the product from shelves.
Dow tops 40,000, Biden trolls Trump in split-screen video
The state of the U.S. economy looms as one of the larger factors weighing on the Democratic president's bid for reelection. Persistently high prices have hindered Biden's efforts to win credit from voters for his handling of the economy, although inflation in recent months has been easing.
China April industrial output rises 6.7 y/y, beats expectations
China's industrial output grew 6.7% in April, surpassing expectations, with retail sales and fixed asset investment showing mixed results. Official data released on Friday by the National Bureau of Statistics (NBS) came above expectations for a 5.5% increase in a Reuters poll of analysts.
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White House blocks Republican demands for audio of Biden special counsel interview, AP Explains
The White House has blocked the release of audio from President Joe Biden’s interview with a special counsel about his handling of classified documents, arguing Thursday that Republicans in Congress only wanted the recordings “to chop them up” and use them for political purposes. The dispute over access to the recordings is at the center of a Republican effort to hold Attorney General Merrick Garland in contempt of Congress and more broadly to hinder the Democratic president’s reelection effort in the final months of the closely contested campaign.
China 'can't have it both ways' on Russia and Western ties: US
US criticized China for supporting Russia in Ukraine, hindering ties with Europe. Meanwhile, Xi Jinping and Putin marked 75th anniversary, aiming to enhance cooperation. Xi also concluded Europe tour after promoting a multipolar world vision.
Russia expels British defense attache in a tit-for-tat move
Russia declared Britain's defense attache persona non grata and expelled Maxim Elovik over espionage allegations. Tensions between the UK and Russia involve cyberattacks, targeted killings, and Russian interference in Ukraine. Britain sanctioned wealthy Russians and tightened regulations on money laundering.
Xi, Putin hail ties as 'stabilising' force in chaotic world
Xi Jinping and Vladimir Putin emphasized the crucial role of China-Russia relations in maintaining global peace and stability.
US House votes to force weapons shipments to Israel, rebuking Biden
The Republican-led U.S. House passed a bill to force President Biden to send weapons to Israel amid the conflict with Hamas. The bill, not expected to become law, underscores the divide over Israel policy. Netanyahu's government aims to combat militants as civilian casualties rise in Gaza. Speaker Johnson and Leader Jeffries criticized the political motives behind the bill.
US weekly jobless claims fall; labor market gradually easing
The decline reversed a portion of the jump in the prior week, which had pushed claims to the highest level in more than eight months. The increase was largely attributed to a surge in applications in New York related to school spring breaks.
