Euro Extends Gains Amid German Spending Plans The euro reached a four-month high against the US dollar on Thursday, driven by a surge in European bond yields. The rise followed Germany’s proposal for a €500 billion ($539.85 billion) infrastructure fund and changes to its borrowing limits. Investors reacted positively to the news, viewing it as a sign of increased fiscal stimulus in the eurozone. Meanwhile, the US dollar remained under pressure, hovering near a four-month low against a basket of major currencies. This came after the US administration granted Canada and Mexico a one-month exemption from auto import tariffs. The…
Author: Kanika Sharma
Read More
Thales CEO Raises Concerns Over Starlink’s Business Model Thales CEO, one of Europe’s largest satellite manufacturers, has cautioned governments about the risks of relying too heavily on private satellite networks. CEO Patrice Caine raised concerns about the sustainability of such models, in what appeared to be a reference to Elon Musk’s Starlink. Speaking at a results briefing on Tuesday, Caine questioned the long-term viability of Starlink’s frequent satellite renewals and uncertain profitability. Without directly naming Starlink, he warned of the risks associated with outsourcing critical government communications to private entities. “Government actors need reliability, visibility, and stability,” Caine said. “A…
European Defence Stocks Leads Market Rally European stock markets soared to record highs on Monday, driven by expectations of increased military spending across the region. Hopes for a Ukraine peace proposal also contributed to the positive rise of European defence stocks. Germany’s blue-chip index DAX logged its largest single-day gain since November 2022, closing at a record high. Britain’s FTSE 100 also ended at an all-time high. Meanwhile, the pan-European STOXX 600 index extended its winning streak, rising 1.1% to another record close after 10 consecutive weeks of gains. Over the weekend, leaders of major European economies committed to boosting…
Demonstrators Oppose Trump Administration Cuts to Scientific Workforce More than 1,000 protesters gathered outside a National Oceanic and Atmospheric Administration (NOAA) building in Boulder, Colorado, on Monday, opposing layoffs ordered by the Trump administration. According to two current employees, the cuts affected more than 10% of scientists working at the facility. The protest was organised by former US Congressman David Skaggs, a Colorado Democrat, after learning about the job losses. Skaggs, for whom the NOAA building is named, initially expected around 100 attendees. However, police estimated the crowd at over 1,000. Skaggs said the high turnout reflected growing concerns over…
China to Welcome First Foreign Astronaut Aboard Tiangong Space Station China’s space station is set to host its first foreign astronaut in the coming years, according to state news agency Xinhua. The milestone follows an agreement signed between China and Pakistan on Friday to collaborate on astronaut selection and training. China and Pakistan Strengthen Space Cooperation The agreement marks a significant step in China’s growing space diplomacy. Pakistan, a long-time ally of China, has been working to enhance its space capabilities by engaging in Chinese-led initiatives. The new cooperation will see Pakistan select astronauts for training in China, preparing them…
Microsoft to Shut Down Skype on May 5 After Two Decades Microsoft has announced that it will retire Skype on May 5, marking the end of an era for the internet calling service that transformed global communication. The move aims to streamline Microsoft’s communication platforms and prioritise its Teams service. Microsoft Shifts Focus to Teams Microsoft stated on Friday that shutting down Skype will help the company focus on its homegrown Teams platform. The software giant has been integrating Teams deeply with its Office suite, making it the preferred communication tool for businesses. Founded in 2003, Skype revolutionised voice and…
Markets React as Trump’s Tariff Plans Shake Investor Confidence Investors reacted nervously to US President Donald Trump’s tariff plan, triggering a sell-off in risk-sensitive currencies and cryptocurrencies. The market turmoil saw the US dollar strengthen as a safe-haven asset while Bitcoin and other digital assets experienced sharp declines. Cryptocurrencies Suffer Heavy Losses Bitcoin (BTC) tumbled over 5% on Friday, dropping to $79,650.40—its lowest level since November. Ether (ETH) followed suit, falling more than 5% to a 13-month low of $2,127.41. Both cryptocurrencies were on track for their steepest monthly declines since June 2022. The sharp pullback followed optimism late last…
Aleksei Andriunin Faces Wire Fraud and Market Manipulation Allegations Aleksei Andriunin, the founder and CEO of cryptocurrency financial services firm Gotbit, has been extradited from Portugal to the U.S. to face charges of market manipulation and wire fraud. The U.S. Department of Justice announced that Andriunin, a 26-year-old Russian national, appeared in a Boston federal court on Wednesday, where he pleaded not guilty. Andriunin is accused of engaging in fraudulent practices to manipulate the market for digital tokens on behalf of his clients. His lawyer, Roger Burlingame of Dechert law firm, declined to comment on the case. Operation Token Mirrors…
Intuitive Machines Athena Lander Begins Journey to the Moon Intuitive Machines successfully launched its second moon lander, Athena, on Wednesday aboard a SpaceX rocket. The mission marks the latest private US moonshot, following the company’s first attempt last year, which ended with a toppled landing. Athena, a six-legged lander about the height of a giraffe, will take approximately a week to reach the moon. It is scheduled to land on March 6 at Mons Mouton, a flat-topped mountain located roughly 100 miles (160 km) from the lunar south pole. The lander carries various scientific instruments, including a hopper rover designed…
China to Integrate Solid-State Batteries into EVs by 2027 China is set to introduce solid-state batteries in new energy vehicles (NEVs) by 2027, with mass production and widespread adoption expected by 2030. This announcement was made in Beijing on Tuesday by a representative from China EV100, a leading NEV industry think tank. Advantages of Solid-State Batteries Compared to conventional lithium-ion batteries, solid-state batteries offer several key advantages. They provide higher safety, greater energy density, longer lifespan, and faster charging speeds. These improvements could significantly enhance the performance and reliability of electric vehicles (EVs), making them more efficient and appealing to…