Federal prosecutors indicted Greg Lui of Earthmade Computer on three counts covering export-control violations, smuggling, and money laundering, alleging he shipped over $300 million in restricted AI-grade servers to China via Malaysia and Singapore.
Posted inMarkets
Nikkei Surges 3.3% to 68,956 as Micron’s AI Memory Outlook Ignites Japan’s Chip Stocks
Japan’s benchmark index posted its best session in six weeks on Tuesday, led by a wave of buying in semiconductor-linked stocks after Micron Technology raised long-term customer commitments to $32 billion from $22 billion in June.
Posted inEconomy
Bessent Says US Core Inflation Is Near 2.3% and Q3 GDP Will Exceed 3%
Treasury Secretary Scott Bessent said Tuesday that US core inflation had retreated to around 2.3 percent and third-quarter GDP growth would likely exceed 3 percent, pushing back against recession concerns after September’s weak jobs print.
Posted inGeopolitics
US Withdraws All 12 B-1 Bombers From RAF Fairford as Iran-Backed Threat Intelligence Emerges
American commanders rushed all 12 B-1 Lancer bombers out of a British air base over the weekend after intelligence warned of an Iran-backed threat against the facility, as senior officials held emergency Iran war talks at Camp David.
Posted inWorld
Spain’s Sánchez Calls Snap Election for 29 November After Housing Crisis Defeat
Prime Minister Pedro Sánchez dissolved parliament on Monday after opposition parties blocked his housing reform decrees, triggering Spain’s third general election in three years.
Posted inTech
Broadcom Banks $60 Billion to Finance Anthropic AI Chip Purchases
A $60 billion bank financing package will allow Anthropic to lease Broadcom chips at scale, with Blackstone leading an $18 billion junior tranche.
Posted inMarkets
OPEC+ Freezes November Output as Middle East War Keeps Production Below Quota
OPEC+ froze November output targets on October 4, pausing months of quota hikes as Middle East war keeps members’ actual output well below official levels.
Posted inEconomy
US Services Sector Holds at 55.1 in September as Fed Hold Bets Reach 84%
The ISM Services PMI for September came in at 55.1 on October 5, signalling continued services expansion even as the Fed-hold odds climbed to 84%.
Posted inGeopolitics
Merz Pledges €1.35 Billion in Kyiv as Russian Drone Strikes the Northern Bridge
Friedrich Merz pledged €1.35 billion in Kyiv aid on October 4, as a Russian drone hit the Northern Bridge during his unannounced visit to Ukraine.
Posted inWorld
North Korea Tests Missile Claiming AI-Guided Evasion of Defense Systems
North Korea fired an intermediate-range missile from its Wonsan coast on October 3, claiming the weapon uses AI to evade enemy air defenses mid-flight.