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News Timeline
CYPRUS PEACE Talks Resume: Can Decades of Division Finally Heal?
— U.N. Secretary-General Antonio Guterres hosted informal talks in Geneva to revive the Cyprus peace process, stalled for nearly eight years. Greek Cypriot President Nikos Christodoulides and Turkish Cypriot Leader Ersin Tatar attended, alongside diplomats from Britain, Greece, and Turkey. The Mediterranean island has been divided since Turkey’s 1974 invasion following a failed coup by pro-Greece supporters.
Turkey alone recognizes the Turkish Cypriot declaration of independence and maintains over 35,000 troops in the northern third of Cyprus. Despite Cyprus joining the European Union in 2004, only the Greek Cypriot south benefits fully from EU membership. This division remains a significant point of contention in ongoing peace efforts.
Recently, a leader from the Patriotic Turkish Cypriot Movement criticized Ersin Tatar for allegedly pushing Turkey’s agenda to partition Cyprus into two states. This accusation highlights internal disagreements among Turkish Cypriots regarding representation and interests within peace negotiations.
Turkish Foreign Minister Hakan Fidan and Greek Foreign Minister George Gerapetritis participated in Tuesday’s discussions along with Britain’s Foreign Office Minister Stephen Doughty. These talks aim to address long-standing issues that have hindered reconciliation on this divided island for decades.
STARME RALLIES Allies to Challenge Putin’s Aggression
— U.K. Prime Minister Keir Starmer urged global leaders to keep the pressure on Russian President Vladimir Putin for a ceasefire in Ukraine. Speaking at a virtual meeting of the “coalition of the willing,” Starmer stressed the need for ongoing diplomatic efforts.
Starmer believes that Putin will eventually have to negotiate peace terms. The meeting aims to explore military and financial support for Ukraine, alongside potential peacekeeping missions.
The coalition seeks to unify international efforts against Russian aggression, emphasizing the importance of global cooperation in resolving the conflict. Starmer’s call highlights ongoing commitment to Ukraine’s sovereignty and stability.
MAGNACHIP’S BOLD Move: Shift to Power Business Promises Big Profits
— Magnachip Semiconductor Corporation is making a bold shift to focus solely on its Power business. This strategic move, decided by the Board and management, aims to boost revenue growth and increase shareholder value.
The company plans to phase out its Display segment, classifying it as discontinued in the next Q1 results. Options like selling or merging this segment are on the table. The goal is clear: ensure steady profits and keep shareholders happy.
Magnachip aims for quarterly break-even by Q4 2025 and expects positive operating income by 2026. By 2027, they foresee positive free cash flow. The Power business will target stable markets with long product cycles, unlike the unpredictable smartphone market of their Display segment.
APPLE’S $500 Billion Gamble: Can It Really Boost American Jobs?
— Apple has unveiled a groundbreaking $500 billion investment plan in the U.S. over the next four years. A new manufacturing facility in Houston, focused on AI servers, is part of this initiative. CEO Tim Cook highlighted this as a major push for American innovation and job creation.
The plan includes doubling Apple’s U.S. Advanced Manufacturing Fund to $10 billion, aiming to create 20,000 jobs. The Houston plant will cover 250,000 square feet and produce hardware for Apple Intelligence, their AI system. This comes amid trade tensions from tariffs on Chinese imports imposed by President Trump that affect tech sectors like chips.
Apple’s strategy appears aimed at countering trade challenges while competing with tech giants like Microsoft and Google in AI markets. Yet analysts question the feasibility of such an ambitious plan given Apple’s current capital of less than $160 billion and wonder if inflation-adjusted spending might actually decrease rather than increase real terms spending.
Questions persist about creating 20,000 jobs at an estimated cost of $25 million per job, casting doubt on Apple’s claims’ practicality. While Apple’s bold move seeks to navigate geopolitical pressures and market realities, its success remains uncertain amidst these challenges.
VERTICAL THEME’S BIG Move: Alliance Bank Stake Sale to DBS?
— Investment firm Vertical Theme Sdn. plans to seek approval to start talks about selling its stake in Alliance Bank Malaysia Bhd. Sources close to the situation revealed this potential sale, which could lead to big changes in the bank’s ownership. This move hints at a strategy shift for Vertical Theme as it explores opportunities with DBS, a major player in banking.
RUPIAH and WON SHOCKED by Central Bank SURPRISES
The Indonesian rupiah is near six-month lows, and the South Korean won ended a three-day winning streak after unexpected central bank decisions. Investors were surprised as both countries’ central banks made unanticipated interest rate calls, causing market fluctuations. These moves highlight today’s volatile and unpredictable global financial markets.
HEXTAR INDUSTRIES BREWS UP Luckin Coffee LAUNCH THIS MONTH!
Hextar Industries Bhd is gearing up for a soft opening of five Luckin Coffee outlets by month’s end through its subsidiary Global Aroma Sdn Bhd (GASB). This expansion marks Hextar’s entry into the competitive coffee market, aiming to capture consumer interest with Luckin Coffee’s brand appeal. The openings show Hextar’s strategic growth ambitions within Malaysia’s food and beverage industry.
— Three Mile Island Restart: A Potential Nuclear Energy Revolution The planned restart of the Three Mile Island facility signals a pivotal moment for nuclear energy amid increasing interest from Big Tech companies
UK Faces MIGRANT SURGE: Can the Government Handle the Crisis?
— Between November 4th and 10th, over 1,800 ILLEGAL migrants crossed the Channel to Britain. These crossings happened in 30 boats run by smugglers from Calais. The PA News agency reports nearly 33,000 illegal crossings this year, a 22% rise from last year.
Prime Minister Sir Keir Starmer’s efforts to tackle illegal migration faced setbacks with these arrivals. During a media blitz, Starmer announced £75 million to fight people smuggling gangs. He also promised to treat smugglers like terrorists and boost intelligence sharing with countries like Kosovo and Serbia.
Critics argue the government should take stronger action against illegal crossings. Nigel Farage’s Reform UK party suggests adopting Australia’s ‘turn-back-the-boats’ policy as a solution. This approach successfully curbed illegal migration under former Australian PM Tony Abbott’s leadership.
HARRIS’S FUNDING Frenzy: Can Trump’s Campaign Catch UP?
— Vice President Kamala Harris has surged ahead of former President Donald Trump in campaign fundraising. On the day she announced her candidacy, Harris raised $25 million and reached $500 million within a month. This financial boost gives her a strong edge as the 2024 presidential race intensifies.
Trump’s campaign, however, had collected $309 million by the end of August. To close this gap, Republican super PACs are stepping up, spending over $80 million on TV ads nationwide in September alone. They’ve also set aside more than $100 million for advertising during the campaign’s final weeks.
Despite this fundraising difference, Republicans remain determined. They’re investing heavily in online, mail, and door-to-door campaigns to counter Harris’s financial lead. The race for the White House is becoming fiercely competitive as both sides strategically deploy their resources to win voters over.
— Starmer: Putin Can End Ukraine War Anytime UK Labour leader Keir Starmer asserts that Russia initiated the conflict and can halt it at will, ahead of discussions with President Biden on lifting restrictions on Western weaponry for Ukraine
— Former President Barack Obama Proudly Endorses Kamala Harris as Democratic Candidate to Challenge Trump Obama expresses pride in endorsing Harris to potentially replace Biden in the US election
NATO’S BIG Move: Ukraine’s UNSTOPPABLE Path to Membership
— NATO’s 32 members declared Ukraine on an “irreversible” path to membership in the alliance. This announcement came during their summit in Washington, emphasizing a commitment to Ukraine’s defense.
The U.S., Netherlands, and Denmark announced that Ukrainian pilots would receive NATO-provided F-16s by summer. President Zelenskyy expressed gratitude for the support amid ongoing deadly strikes from Russia.
NATO also committed to long-term security assistance and established a new center to ensure reliable arms and training for Ukraine. However, these commitments fall short of what Ukraine says it needs to defeat Russia.
The final statement labeled China as a “decisive enabler” of Russia’s war against Ukraine. NATO reaffirmed its support for Ukraine’s democratic, economic, and security reforms needed for full membership in the alliance.
— TRUMP DEFENSE QUESTIONS COHEN’S CREDIBILITY AMID HUSH MONEY TRIAL Defense lawyers challenge Michael Cohen’s credibility over past lies as hush money case against Donald Trump nears conclusion
SEINFELD’S Speech Ignites Protests at Duke: Graduates Challenge His Views
— A small group of Duke University graduates protested during comedian Jerry Seinfeld’s commencement speech in North Carolina. About 30 out of 7,000 students walked out, chanting “free Palestine.” Their protest sparked mixed reactions among the audience.
Seinfeld, who was honored with an honorary doctorate at the event, is known for his support of Israel. This stance has become more pronounced following recent conflicts between Israel and Gaza. The protests at Duke reflect a growing trend of campus activism in the U.S., where students are pushing their institutions to cut ties with Israeli businesses and supporters.
The unrest at Duke is indicative of a broader national movement on college campuses concerning the Israeli-Palestinian conflict. This spring alone witnessed nearly 2,900 arrests from protests at over 57 universities across the country. Students have established encampments and organized walkouts to compel their universities to address what they see as injustices in the Middle East.
These demonstrations highlight a significant shift toward more vocal and widespread student activism aimed at influencing university policies on international issues. The incident at Duke underscores the increasing willingness of students to use their voices to effect change on global matters directly impacting their communities and beyond.
2023 RECAP SHOWDOWN: Washington Examiner Editors’ Battle in Year-End Trivia Challenge
— As 2023 draws to a close, let’s take a trip down memory lane and revisit some of the year’s most noteworthy events in Washington. Join Chris Irvine, Managing Editor, and Jim Antle, Executive Magazine Editor of the Washington Examiner for an engaging recap.
Witness these two seasoned experts as they go head-to-head in a trivia duel. The contest is orchestrated by Investigations Editor Sarah Bedford to determine who holds the upper hand when it comes to knowledge about the West Wing, Supreme Court, and Capitol Hill happenings.
To jog your memory on 2023’s major headlines and more, join our Washington Examiner reporters and editors for this festive end-of-year trivia challenge. It promises to be an enlightening journey through the past year’s key moments.
TEXAS Supreme Court DISMISSES Abortion Challenge: Pregnant Woman with Fetal Anomaly Forced to Leave State
— Kate Cox, a pregnant woman from Texas, found herself in a dire situation when her unborn child was diagnosed with trisomy 18 — a fatal condition. With the state’s strict abortion ban in place, she had no choice but to leave Texas and seek an abortion elsewhere. This happened just before the Texas Supreme Court rejected her challenge against the stringent abortion legislation.
Cox spent nearly a week trying to get court approval for ending her pregnancy due to health risks and potential fertility issues in the future. However, Attorney General Ken Paxton argued that Cox didn’t provide enough evidence that her pregnancy complications were life-threatening.
Even after leaving Texas, Cox’s case was dismissed by the state Supreme Court. The court ruled that while Cox’s pregnancy complications were severe, they didn’t pose an immediate threat to her life as required by law for an exception.
The Center for Reproductive Rights represented Cox during this ordeal. They reported that she had been frequently visiting emergency rooms due to health concerns related to her pregnancy. However, they did not reveal where she eventually went for the procedure.
Marcos Jr STANDS UP to China: The Bold Challenge Over South China Sea Barrier
— Philippine President Ferdinand Marcos Jr. has taken a firm stance against China’s installation of a 300-meter barrier at the entrance to Scarborough Shoal in the South China Sea. This marks his first public opposition to this move, following his directive to dismantle the barrier. Marcos asserted, "We’re not seeking conflict, but we won’t back down from defending our maritime territory and our fishermen’s rights.”
This recent face-off between China and the Philippines follows Marcos’ decision earlier this year to increase U.S. military presence under a defense pact from 2014. This move has raised concerns in Beijing, as it could lead to an increased American military presence near Taiwan and southern China.
After the Philippine coast guard removed the Chinese barrier at Scarborough Shoal, Filipino fishing boats managed to catch around 164 tons of fish in just one day. “This is what our fishermen miss out on... it’s evident that this area belongs to the Philippines,” stated Marcos.
Despite these efforts, two Chinese coast guard vessels were seen patrolling the shoal’s entrance by a Philippine surveillance aircraft on Thursday. According to Commodore Jay Tar
UK’S BIG Green Light to NORTH SEA OIL Drilling: A Jobs Boost or an Environmental Nightmare?
— The UK’s North Sea Transition Authority recently approved new oil and gas drilling in the North Sea. This move has triggered a wave of criticism from environmentalists, who argue it contradicts the country’s climate objectives.
The Conservative government stands by its decision, stating that drilling in the Rosebank field will not only create jobs but also bolster energy security. Rosebank is one of the largest untapped reserves in UK waters and is believed to contain around 350 million barrels of oil.
Equinor, a Norwegian company, and Ithaca Energy based in the UK oversee operations at this field. They have plans to inject $3.8 billion into the project’s initial phase, with production anticipated to kick off between 2026 and 2027.
Caroline Lucas, a Green Party lawmaker, harshly criticised this decision as “morally obscene.” In response, the government maintains that projects like Rosebank will produce significantly less emissions compared to past developments.
Chris PACKHAM’S RADICAL Call to Break the Law: Is It Justified or a Threat to Democracy?
— In his most recent show, “Is It Time To Break The Law?”, seasoned BBC presenter Chris Packham hinted that legal protests might not be enough for environmental causes. On Channel 4, Packham suggested that law-breaking could potentially be a necessary step to save our planet.
Known for his wildlife programs and involvement in left-wing climate marches like Extinction Rebellion (XR), Packham is currently rallying support for a “Restore Nature Now” demonstration. This protest is scheduled later this month outside the Department for Environment Food and Rural Affairs (DEFRA) headquarters in London.
The provocative comments made by the Springwatch host on public broadcaster Channel 4 have ignited considerable controversy. Critics contend that endorsing illegal activities erodes democratic procedures and establishes a perilous precedent.
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REFORM UK’S INTERNAL Struggle: Can They Overcome and Thrive?
— Reform UK, led by Richard TIce, is facing a challenging time that questions its ability to shake up the UK’s two-party system. While gaining support in Labour strongholds, internal issues and Labour’s immigration stance pose threats to its future.
The party struggles to become a major political force while pushing for tougher immigration policies. Experts say Reform UK must grow its infrastructure and acceptance to keep its momentum going.
Recent dissatisfaction with public services has been used by Reform UK’s leaders in their campaigns. Their focus on governance and reform connects with voters tired of traditional parties.
Reform UK’s success in handling these challenges will decide if it can secure a strong position in British politics. Building a solid grassroots network and having a strategic vision are key for breaking the hold of Labour and Conservative dominance.
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