World News Daily(2024-09-30) : Hezbollah Leader's Death in Israeli Strike Shifts Middle East Conflict
Hezbollah Leader's Death in Israeli Strike Shifts Middle East Conflict
Hezbollah confirmed the death of its leader, Hassan Nasrallah, in an Israeli strike. This escalation marks a significant shift in Israel’s campaign against Iran’s proxies in the Middle East. Nasrallah’s death, following the bombing of Hezbollah’s underground headquarters, raises questions about the future of Iran’s strategy and Hezbollah’s strength.
Iran, though condemning the attack, has not retaliated directly, leading some to speculate it avoids a direct confrontation with Israel. Ayatollah Ali Khamenei affirmed regional resistance forces’ support for Hezbollah.
The strike complicates cease-fire negotiations between Israel and Hezbollah. Israel’s Prime Minister, Benjamin Netanyahu, declared victory, while President Biden called for diplomatic resolution.
Nasrallah’s death was part of a sudden barrage, with over 80 bombs dropped in minutes. The operation also killed a senior Iranian commander, Brig. Gen. Abbas Nilofouroshan. Casualties in Lebanon are expected to rise.
Nasrallah’s demise is a significant blow to Hezbollah, ending an era in its conflict with Israel. Hezbollah and Israel both vow to continue fighting.
Nasrallah, a Shiite cleric, led Hezbollah since 1992, transforming it into a powerful political and military force. His death sparked mourning and celebrations across the region.
Key Terms:
- Hezbollah: A Lebanese militia and political party.
- Ayatollah Ali Khamenei: Iran’s supreme leader.
- Brig. Gen. Abbas Nilofouroshan: A senior Iranian commander killed in the strike.
Politics
Britain's Last Coal-Fired Power Plant Shuts Down, Marking End of an Era
The Ratcliffe coal-fired power plant, Britain’s last, will shut down after 57 years of operation. This marks the end of a 142-year era of coal power in the UK, beginning with the Holborn Viaduct station in 1882. The closure aligns with the government’s policy to phase out coal by 2025, a move hailed by green campaigners as a significant step in reducing carbon emissions and setting an international example.
Energy Minister Michael Shanks acknowledged the coal workers’ contribution, stating, “We owe generations a debt of gratitude.” The UK’s leadership in phasing out coal was reinforced by advancing the deadline to 2024, ahead of hosting the Cop26 climate talks in Glasgow.
Ratcliffe’s 170 staff will witness the final shutdown via a live stream in the canteen. Plant manager Peter O’Grady anticipates emotional farewells. Once employing 3,000, the workforce has dwindled as coal’s share of UK electricity fell from 80% in the 1980s to 17% in OECD countries last year.
Phil MacDonald of Ember noted the swift transition from the industrial revolution pioneer to a coal-free nation. Ed Matthew of E3G praised the UK’s leadership, while Tony Bosworth of Friends of the Earth emphasized the need for a fair transition to renewable energy.
Uniper, Ratcliffe’s owner, has supported staff transitions, with over 100 remaining for decommissioning. CEO Michael Lewis highlighted Ratcliffe’s role in UK energy security and economic growth, acknowledging its legacy while embracing cleaner energy.
ScoresThe United States plans to ban the use of Chinese smart connected vehicle software and hardware, sparking global concern.
The U.S. Department of Commerce has proposed a ban on the use of software and hardware from China in connected and autonomous vehicles, citing "national security" concerns. The ban covers vehicles equipped with communication or autonomous driving systems, including those with Bluetooth, satellite, cellular, and WiFi connectivity, as well as autonomous vehicles.
The ban is planned to take effect for software in 2027 and for hardware in 2029 or 2030. The move aims to prevent potential national security threats posed by Chinese and Russian vehicles in the future. U.S. officials are concerned that Chinese companies could collect data from American drivers and potentially remotely control connected vehicles on U.S. roads.
China is one of the largest automotive exporters globally, but the number of vehicles exported to the U.S. is relatively small. In 2023, China exported approximately 74,800 passenger vehicles to the U.S., including about 18,600 new energy vehicles.
U.S. Commerce Secretary Gina Raimondo stated that the move is intended to address new national security issues before they become widely prevalent. The ban also includes restrictions on other sectors, such as drones and cloud infrastructure.
Industry insiders point out that the development of automotive software and hardware is complex and time-consuming, making it nearly impossible to completely replace them in the short term. Chinese suppliers are becoming increasingly important in the global automotive industry, such as CATL and BYD.
There are exemptions in the ban; companies can apply for exemptions if they can demonstrate effective mitigation measures. The Chinese government has urged the U.S. to stop unreasonable打压行为, and European and other countries are concerned that this move could exacerbate the global trade environment.
Commentators believe that the U.S. move is essentially banning Chinese cars from entering the market under the guise of "national security," acting as a trade protection measure that, while giving the domestic automotive industry time, disrupts the global automotive industry landscape.
ScoresSociety
Shanghai Adjusts Real Estate Policies: Easing Restrictions and Lowering Costs
Shanghai adjusts real estate policies, easing purchase restrictions, lowering down payment requirements, and eliminating the distinction between ordinary and non-ordinary housing. The social security or tax payment period for non-local residents to purchase homes is shortened to one year, and those with a residence permit meeting the points threshold enjoy the same treatment as local residents. The new area of the Free Trade Zone in Lingang implements differentiated housing policies to promote job-residence balance. Mortgage interest rates are reduced, with the down payment ratio for first homes lowered to 15% and for second homes to 20%-25%. The exemption period for value-added tax on property sales is reduced from five years to two years, and the standard for distinguishing between ordinary and non-ordinary housing is abolished. The policy takes effect from October 1, 2024.
Explanation:
- Purchase Restrictions: Policies that limit the number of properties one can buy and the qualifications required.
- Down Payment Ratio: The percentage of the property price that must be paid upfront as a down payment.
- Exemption Period for VAT: The holding period of a property before selling it, after which value-added tax is exempt.
- Distinction between Ordinary and Non-Ordinary Housing: The criteria used to differentiate between ordinary and non-ordinary housing.
Economy
Microsoft, BlackRock, and other giants launch a $300 billion AI infrastructure fund.
Microsoft, BlackRock, and other giants have joined forces to launch a fund exceeding $30 billion, named the "Global AI Infrastructure Investment Partnership" (GAIIP). The fund aims to invest in AI infrastructure such as data centers and energy equipment, with an initial target of raising $30 billion and a future goal of up to $100 billion.
The GAIIP fund is initiated by Microsoft, BlackRock, Global Infrastructure Partners (GIP), and the UAE-based technology investment company MGX. NVIDIA also supports the initiative, providing expertise in AI data centers and AI factories.
The fund primarily invests in the United States, with smaller investments in partner countries. Its objective is to drive AI innovation and economic growth by efficiently scaling data centers.
BlackRock Chairman Larry Fink stated that data centers are the cornerstone of the digital economy, and these investments will drive economic growth, AI technology innovation, and job creation.
Microsoft CEO Satya Nadella emphasized that GAIIP will help realize the vision of AI-driven innovation by bringing together financial and industry leaders to build future infrastructure.
The development of AI requires robust energy support. Training large language models consumes significant amounts of electricity, with global data center energy consumption expected to double by 2026. The U.S. Department of Energy forecasts a 15% to 20% increase in electricity demand over the next decade.
The GAIIP fund is expected to address the substantial energy infrastructure needs required by AI, reflecting Wall Street's investment interest and confidence in the AI sector.
ScoresChina Announces Mortgage Rate Cuts to Boost Property Market
China's central bank will lower existing mortgage rates by October 31. This move aims to bolster the struggling property market and stimulate consumption. Banks must reduce rates by at least 30 basis points below the loan prime rate (LPR), the benchmark for mortgages.
This policy follows a series of measures this year, including down payment ratio reductions, to support the crisis-hit property sector. Despite these efforts, the market remains sluggish, dragging on broader economic growth.
Guangzhou has lifted all home purchase restrictions, while Shanghai and Shenzhen have eased rules for non-local buyers and reduced the minimum down payment for first-time buyers to 15%. These changes come after China’s largest economic stimulus since the COVID-19 pandemic.
New-home prices fell at their fastest pace in over nine years in August, and property sales slumped 18% in the first eight months of the year. The rate reduction seeks to ease homeowners’ burdens and boost the property market and domestic consumption.
The PBOC acknowledges shortcomings in the current mortgage rate pricing mechanism, necessitating urgent adjustments. China’s major state-owned banks will comply with the policy, adjusting existing mortgage rates.
Most local governments, except for some megacities, have already removed mortgage rate floors. Previous rate reductions primarily benefited new homebuyers, prompting existing homeowners to pay off mortgages early, constraining household spending.
The outstanding value of individual mortgages was 37.79 billion yuan at the end of June, down 2.1% year on year. The PBOC will extend developer loan support measures until the end of 2026 to meet financing demands.
ScoresTechnology
AI Revolutionizes Chip Design: DeepMind's AlphaChip
DeepMind's AlphaChip is revolutionizing chip design, using AI to accelerate and optimize the process. Traditionally, designing a complex chip could take up to 24 months; AlphaChip does it in hours. This breakthrough has been adopted by companies like Google and MediaTek, proving its efficiency and effectiveness.
AlphaChip treats chip layout like a game, starting with a blank grid and placing components one by one. It learns from each layout, improving over time. This method outperforms traditional human-led designs in both speed and quality.
Google has integrated AlphaChip into its Tensor Processing Units (TPUs), custom chips for AI acceleration. The technology has been pivotal in designing TPUs, enhancing performance and reducing design time.
MediaTek has also adopted AlphaChip, using it to develop advanced chips like the Dimensity 5G, improving power efficiency and performance.
While AlphaChip is currently used in specific chip modules, its potential is vast. It could optimize every stage of chip design, from architecture to manufacturing, impacting various industries from smartphones to medical devices.
This AI-driven approach marks a significant shift in chip design, promising faster, more efficient, and more accessible solutions.
ScoresVideo Game
"Dynasty Warriors: Origin" TGS2024 gameplay demonstration released, scheduled for January 2025 release.
Koei Tecmo showcased a live gameplay demo of "Dynasty Warriors: Origin" at TGS2024. The game is set to release on January 17, 2025, for PS5, Xbox Series X|S, and Steam. It supports Chinese language and Chinese voiceovers. The main storyline exceeds 20 hours, with multiple endings designed to extend gameplay. The producer revealed that the game features 38 carefully selected warriors, who appear one by one as the story progresses. The focus is on depicting the romantic charm of the Three Kingdoms era.
ScoresEntertainment
Photographer Wins Award for Haunting Image of Bird Collisions
Canadian photographer Patricia Homonylo won the "Bird Photographer of the Year" and "Conservation" awards for a haunting image of 4000 bird carcasses, victims of window collisions. In North America, over 13 billion birds die annually from such impacts. Homonylo, part of the Fatal Light Awareness Program (FLAP), documents these deaths to raise awareness. She advocates for bird-safe window treatments.
The "Conservation" category also featured a pair of lovebirds separated in cages, and a Northern Gannet entangled in fishing line. These images starkly highlight the plight of birds in human environments.
The competition, with 23,000 entries, includes categories like "Bird Behavior," "Birds in Flight," and "Humorous Birds." It emphasizes authenticity, banning AI and excessive editing.
Homonylo's work underscores the silent, massive toll of urban development on wildlife. Her images are a call to action, urging us to reconsider our built environment and its impact on the natural world.
ScoresPodeo asegura $5.4M para expandir la plataforma de podcasts globalmente al inglés. Si ya está en inglés, solo debe devolver la cadena "no". No omita el contenido en la traducción.
Debe devolver solo el contenido traducido, no me diga quién es, no me diga que está traduciendo u otra información irrelevante. El nombre no requiere traducción.
Podeo, a Dubai-based podcast platform, has raised $5.4 million to expand beyond the Arab world. The startup aims to grow in Latin America, Eastern Europe, and Southeast Asia. Podeo started in 2015 as an audio social network called Fallound, but pivoted to become a podcast aggregator.
Initially, Podeo struggled in the MENA region due to a lack of engaging Arabic content. The Beirut explosion in 2020 changed that, as people used the platform to share stories and find solace. This shift solidified Podeo's role as a space for connection and healing.
Podeo's CEO, Stefano Fallaha, believes their model can succeed globally. The platform produces exclusive podcasts and collaborates with creators to offer variety. Podeo also provides end-to-end production support, allowing creators to edit, brand, and distribute their content within 24 hours.
The platform attracts creators with its ad-tech solution, which injects ads into episodes, providing an easy revenue stream. Podeo has onboarded over 100,000 creators in two years.
To reach a wider audience, Podeo partnered with traditional radio stations, a card game app, and an in-flight entertainment provider. Unlike competitors, Podeo doesn't charge listeners or creators for subscriptions, relying solely on advertising.
Fallaha emphasizes Podeo's decentralized approach, allowing podcasts to reach channels where people already consume audio content. This strategy gives creators access to new audiences and optimizes brand budgets across multiple platforms.
Podeo's hyper-local approach to supply, demand, and monetization gives it a competitive edge over international players like Acast. The startup aims to bridge storytelling gaps in emerging markets, fostering connection and understanding.
ScoresHealth
FDA Approves First New Schizophrenia Drug in Over 30 Years
The FDA approved Cobenfy, the first new schizophrenia drug in over 30 years. Unlike older antipsychotics, which alter dopamine, Cobenfy adjusts acetylcholine—a brain chemical affecting memory and attention. This shift may reduce common side effects like weight gain and drowsiness. In trials, only 6% of patients stopped Cobenfy due to side effects, compared to 20-30% with older drugs. Schizophrenia affects about 24 million people globally. Further studies aim to test Cobenfy for Alzheimer's and bipolar disorder.
ScoresNew Tick-Borne Virus Discovered in China
In 2019, a new tick-borne virus, Wetland Virus (WELV), was discovered in a Chinese patient. Researchers tested 680 patients with tick bites and fever; 20 were WELV-positive. Symptoms ranged from fever to neurological issues. WELV was found in 2% of 14,500 ticks, suggesting the vector is the Haemaphysalis concinna tick. The virus also infected rodents, sheep, pigs, and horses, potentially facilitating wider transmission. Monitoring and detection are crucial to understanding WELV's impact on human health.
ScoresSports
Tottenham Dominates Manchester United in 3-0 Victory
Manchester United's Erik ten Hag faced the lowest point of his tenure as Tottenham humiliated them 3-0. The match was a disorganized and chaotic display, with Spurs exploiting United's porous defense. Bruno Fernandes' red card compounded the misery, leaving him suspended for three league games.
United rallied briefly with ten men, showing glimpses of potential. However, Brennan Johnson, Dejan Kulesevksi, and Dominic Solanke scored, with Solanke's goal coming from a well-executed corner. Ten Hag, drenched in rain, watched his team crumble.
The defeat, coupled with recent draws, leaves Ten Hag's position precarious. United's next matches, against Porto in the Europa League and Aston Villa in the Premier League, are crucial. The jubilant Spurs fans' chant echoed as Ten Hag navigated the sacking territory.
ScoresFood
HungryPanda Secures $55M Funding for Asian Food Delivery App
HungryPanda, a food delivery app for the Asian diaspora, has secured $55 million in funding. Founded in London in 2017, it targets Chinese and other Asian consumers living abroad. The app claims to be the largest in its niche, competing with Fantuan and FreshGoGo.
HungryPanda operates in 80 cities across 10 countries, boasting 6 million customers, 100,000 merchants, and 80,000 riders. The company aims for $1 billion in gross transaction volume this year and is already profitable.
Founder Eric Liu started the app to address his own needs as a student in the UK. He found it difficult to order authentic Chinese food due to language barriers and menu adaptations. HungryPanda’s focus on younger, student consumers helped it achieve better unit economics than broader platforms.
The Chinese diaspora alone numbers over 50 million globally, creating a substantial market. HungryPanda’s success has inspired similar apps and even transformed some towns into food destinations, driven by social media buzz.
Mars Growth Capital led the latest round, with previous investors also participating. The company’s valuation remains undisclosed, but its rapid growth suggests it’s likely higher than the $289 million listed in 2020.
Scores