World News Daily(2024-10-01) : Far-Right Freedom Party Wins Austrian Election
Far-Right Freedom Party Wins Austrian Election
The far-right Freedom party (FPÖ) won Austria’s parliamentary elections, securing 29.1% of the vote. This marks the first time since World War II that a far-right party has led in Austria. The FPÖ, known for its hardline stance on immigration and anti-EU rhetoric, capitalized on public discontent over migration, inflation, and economic stagnation.
The ruling centre-right People’s party (ÖVP) came in second with 26.2%, while the Social Democratic party had its worst performance at 20.4%. The Greens, despite the recent climate crisis, garnered only 8.6%.
FPÖ’s success reflects a broader rightward shift in Europe, modeled after Hungary’s Viktor Orbán. The party’s leader, Herbert Kickl, a former interior minister, campaigned on deporting “undesirable” immigrants and opposing EU sanctions against Russia.
The ÖVP, though defeated, remains a potential coalition partner for the FPÖ. However, Chancellor Karl Nehammer has ruled out Kickl as a chancellor candidate, setting the stage for complex negotiations.
This election underscores Austria’s shifting political landscape and the growing influence of far-right ideologies in Europe.
ScoresPolitics
October: High-Risk Month for U.S. Election Interference
October is crunchtime for U.S. elections, a month ripe for foreign mischief. Federal officials warn of heightened risks, with time to react running short.
Russia openly backs Trump, while Iran, Moscow’s ally in Ukraine, hacks Trump’s campaign to thwart his return. The Justice Department is set to indict an Iranian hacking group linked to the Islamic Revolutionary Guard Corps.
China, uncertain about its stance, focuses on local races to undermine public faith in the democratic process.
Intelligence briefings reveal a complex battlefield. Russia remains the most active threat, but Iran’s counter-efforts and China’s muddled position add new dimensions.
Election officials fear cyberattacks could lock up registration systems, skewing results or giving pro-Trump officials an excuse not to certify votes.
The U.S. government is more proactive this year, warning the public of potential threats to bolster election security.
Jen Easterly, head of the Cybersecurity and Infrastructure Security Agency, emphasizes the common goal of foreign adversaries: undermining American confidence in election security and sowing partisan discord.
ScoresNTSB Warns Airlines of Potential Boeing 737 Rudder Issues
The US National Transportation Safety Board (NTSB) warns over 40 airlines using Boeing 737s with potentially faulty rudder parts. A February incident involving a United flight highlighted the issue. The NTSB fears other airlines might be unaware of these risks. Boeing shares dropped 2.7%. The Federal Aviation Administration (FAA) plans additional testing in October. United removed the parts from its planes earlier this year.
ScoresShigeru Ishiba: Japan's New Prime Minister and His Policy Agenda
Shigeru Ishiba, 67, is Japan's new prime minister, succeeding Fumio Kishida. A former banker, he entered politics in 1986 and has focused on security and rural revitalization. Known for his love of trains and curry, Ishiba has run for LDP leadership five times, finally winning.
Political Background: Ishiba was encouraged by Kakuei Tanaka to enter politics after his father's death. He served in various ministries, including defense and agriculture, and was LDP Policy Research Council chairman and secretary-general. Despite popularity, he often clashed with party elites.
Diplomacy: Ishiba is concerned about Asia's security, particularly North Korea's missile launches. He advocates for a NATO-style collective security in Asia, emphasizing the U.S.-Japan alliance. He plans to review the Status of Forces Agreement and manage U.S. bases jointly with Japan's Self-Defense Forces.
Economic Policy: Ishiba aims to revitalize small cities and rural areas by rejuvenating agriculture, fishing, forestry, and service industries. He supports renewable energy but seeks to reduce nuclear power's role.
Political Reform: Ishiba is aggressive about LDP reform, especially after recent scandals. He advocates for transparent political funding and the regulation of political party governance.
Personal Life: Ishiba is a train enthusiast and a fan of 1970s Japanese idol groups. His geek side endears him to voters.
Insight: Ishiba's blend of security expertise and rural focus positions him to address Japan's complex challenges. His reformist stance could bring much-needed transparency to the LDP.
ScoresSociety
South Korean Court Sentences Police Officers for Itaewon Disaster Failures
A South Korean court sentenced three police officers to prison for their role in the 2022 Itaewon crowd crush, which killed 159 people. The officers, including the former chief of Seoul’s Yongsan police station, were convicted of professional negligence resulting in death. The court found their inadequate preparation and response exacerbated the disaster.
The crush occurred during Halloween celebrations in Itaewon, a popular nightlife district. The court ruled it was preventable, criticizing the officers for failing to alert others of the danger and supervise effectively. The police officers and prosecutors can appeal the verdict.
In contrast, the court acquitted the head of the Yongsan ward office and three other officials, stating they lacked legal authority to control the crowd. Bereaved families criticized this decision, questioning its logic.
A 2023 special investigation revealed police and municipal officials had anticipated large crowds but failed to implement effective control measures. The investigation also noted police ignored warnings from pedestrians about the swelling crowd before the fatal surge.
This case highlights the critical need for effective crowd management and the accountability of authorities in preventing such tragedies.
ScoresEconomy
Russia and China Achieve 95% Trade Settlement in Own Currencies
Russia and China now settle 95% of their trade in rubles and yuan, bypassing third-country currencies. Despite a slight dip in trade in March-April, bilateral trade surged 26.3% to $240.11 billion in 2023. This milestone exceeds the 2024 target of $200 billion set by leaders Putin and Xi in 2018. The two nations celebrate 75 years of diplomatic ties this October, with the Soviet Union being the first to recognize China in 1949.
ScoresTata Power to Invest $14.3 Billion in Rajasthan Renewable Energy Projects
Tata Power plans to invest $14.3 billion in Rajasthan over ten years, focusing on renewable energy. The majority, 750 billion rupees, will fund 10 gigawatt (GW) renewable projects. Tata Power aims to expand its renewable capacity from 5 GW to over 20 GW by 2030, aligning with India's goal of 500 GW clean energy by 2030. This move reflects India's growing commitment to reducing emissions and transitioning to cleaner energy sources.
ScoresADNOC to Acquire German Chemicals Firm Covestro for $16.4 Billion
Abu Dhabi's ADNOC, the state-owned oil giant, has agreed to acquire German chemicals firm Covestro for 14.7 billion euros ($16.4 billion). The deal, a 62 euros-per-share takeover, offers a 54% premium over Covestro's June 19 closing price. Covestro, a former Bayer unit, specializes in polymer materials used in construction, engineering, and various industries.
ADNOC's acquisition aims to bolster its international growth strategy, positioning itself as a top-five chemicals player. The deal also includes ADNOC's commitment to buy 1.17 billion euros worth of new Covestro shares.
Covestro CEO Markus Steilemann described the deal as "unprecedented," marking the largest transaction between a Middle Eastern strategic investor and a German DAX-listed company. Despite global and German chemical sector challenges, Steilemann believes ADNOC's backing will accelerate Covestro's sustainable future strategy.
ADNOC has been expanding its chemicals portfolio, recently acquiring a stake in Austrian firm OMV and becoming a majority shareholder in ammonia producer Fertiglobe. Analysts at Jefferies anticipate minimal antitrust and regulatory hurdles due to limited operational overlap. Covestro's management and supervisory board are expected to recommend the transaction to shareholders, pending an offer review.
ScoresGoogle Announces $1 Billion Investment in Thai Data Center and Cloud Infrastructure
Google plans to invest $1 billion in Thailand, establishing a data center and cloud region. This move aims to meet escalating cloud demand and bolster AI adoption in Southeast Asia. The project, expected to create 14,000 jobs annually until 2029, aligns with Thailand's Cloud First Policy. The data center will be in Chonburi, with the cloud region in Bangkok. This follows Microsoft's similar initiative in May.
ScoresJapan's Thriving M&A Market: Key Drivers and Global Implications
Japan's M&A market is booming, making it Asia's most important. David Hill, Deloitte Asia Pacific's CEO, credits this to yen depreciation and government reforms. Historically, Japan focused on outbound deals; now, foreign investors are eyeing domestic opportunities.
Corporate governance reforms, like requiring boards to consider unsolicited bids, are driving this shift. Hill expects significant investment activity, both inbound and outbound.
Global M&A markets are recovering, with $1.3 trillion in deals in the first half of 2024. Megadeals over $5 billion are up 21%, signaling economic confidence.
Tokyo Stock Exchange reforms and government pressure on corporate efficiency are also factors. Shareholder activism, particularly in Japan, is on the rise, with 38 campaigns in the first half of 2024.
A vast amount of "dry powder"—$4.4 trillion in corporate cash reserves and $3 trillion in private equity—is fueling M&A activity. Environmental, social, and governance concerns are reshaping sectors like energy and industrials.
Despite optimism, geopolitical tensions pose risks. Australia, for instance, has restricted Chinese investment in critical minerals.
In summary, Japan's M&A market is thriving due to reforms, investor interest, and ample capital. However, geopolitical risks remain a significant concern.
ScoresTechnology
Google invests $1 billion in Thailand to drive AI development in Asia.
Google plans to invest $1 billion in Thailand with the aim of advancing artificial intelligence development in Asia. This initiative includes the construction of data centers to support AI infrastructure. Recently, Google has made similar investments in several countries, including Uruguay, Malaysia, and Finland, totaling over $100 billion. Additionally, Google acquired AI company Character.AI and pledged $15 million for AI skills training.
Insight: Google's global investment strategy underscores its long-term commitment to the AI field. By establishing data centers in various regions, Google not only enhances its own technological capabilities but also fosters local economic and technological growth.
ScoresLiquid AI Introduces Dynamic AI Models for Continuous Data Processing
Liquid AI, a MIT spinoff based in Boston, has unveiled LFMs (Liquid Foundation Models). These AI models are designed to handle continuous data—think streaming information, not static datasets. The technology aims to make AI more adaptable and responsive in real-time scenarios.
Insight: LFMs represent a shift towards more fluid, dynamic AI systems. By processing continuous data, they could revolutionize applications from autonomous vehicles to financial trading, where quick, adaptive responses are crucial.
ScoresAI Video Generation Model Sora: Revolutionizing Creativity and Raising Ethical Concerns
The launch of the AI video generation model Sora marks a significant leap in artificial intelligence's capabilities in the creative field. Elon Musk's comment "gg humans" suggests that AI may surpass humans in certain areas. Sora makes video creation simple and efficient, allowing for the generation of realistic videos with just a single sentence, eliminating the need for editing. This lowers the barrier to entry for creation, enhances efficiency, but may also lead to content homogenization.
The iteration speed of AI is astonishing, capable of inspiring more creativity, but it also demands creators to possess higher comprehensive abilities, such as screenwriting and directing. Prompts have become the core of creation, requiring precise descriptions, which raises the threshold for creation. Complex prompts may hinder AI's widespread adoption, as current daily active users of AI applications are far fewer than those of short video platforms.
AI may also exacerbate the issue of falsification, casting doubt on the authenticity of video content. However, AI also provides new opportunities for creators to make money, as knowledge-based bloggers promote the popularization of technology by disseminating AI knowledge.
In summary, AI is transforming the creative ecosystem while bringing new challenges and opportunities. Creators need to continuously enhance their abilities to adapt to the changes brought by the AI era.
ScoresSeries Entertainment Raises $28M for AI-Powered Game Development Platform
Pany Haritatos, a seasoned gaming industry executive, has secured $28 million in Series A funding for his startup, Series Entertainment. The round includes investments from Netflix, Dell Technologies Capital, Andreessen Horowitz (a16z), BITKRAFT, and F4 Fund. This follows a $7.9 million seed round led by a16z a year ago.
Series, also known as Series AI, aims to transform game development through the use of Large Language Models (LLMs) and Generative AI. The company’s Rho Engine utilizes AI to accelerate game creation, positioning Series as a potential competitor to Unity.
Haritatos’ background includes founding and selling multiple game studios, including Kongregate and Snap’s games group. His experience and vision have attracted high-profile investors, such as BITKRAFT’s Jens Hilgers and F4 Fund’s David Kaye and Joakim Achrén.
Series has grown from 17 to over 100 employees, attracting talent from Zynga, Machine Zone, Google, and Snap. The company declined to comment on its $190 million post-money valuation, estimated by Pitchbook.
Scores2024 World Computing Conference: The Transformation from "Computing Everything" to "Intelligent Computing Everything"
The 2024 World Computing Conference was held in Changsha, with the theme shifting from "Computing Everything" to "Intelligent Computing Everything." This one-word change reveals a disruptive transformation in computing technology.
The conference focused on green and intelligent computing, showcasing an immersion liquid-cooled computer. This computer uses electronic fluorinated liquid for cooling, reducing energy consumption by 30%. Piero Scaruffi, President of the Silicon Valley Artificial Intelligence Institute, proposed that building smaller models is an effective approach to addressing the power consumption issues of large models.
China ranks second globally in total computing power but faces challenges such as insufficient and uneven computing power. ZTE proposed a solution of "strengthening computing through networks, open decoupling, and elevating intelligence," to promote the networking of computing resources. Sugon introduced the concept of "three-dimensional computing," with a 5A-level intelligent computing center as a model, deeply practiced in Changsha.
Computing power has permeated various fields such as personal life, government management, and industrial development. Unitree's humanoid robots and robotic dogs showcased the charm of artificial intelligence. Topway Information's smart tunnel sandbox demonstrated the application of computing power in the transportation sector. Wondershare's audio-visual multimedia large model, Wondershare "Tianmu," showcased the application of computing power in the integration of culture and technology.
Pan Yunhe, an academician of the Chinese Academy of Engineering, pointed out that artificial intelligence technology will drive a high-level upgrade of China's industries, making a greater contribution to the global economy. Every RMB 1 invested in computing power will drive GDP growth of RMB 3 to 4.
Key Term Explanations:
- Intelligent Computing Everything: Refers to the intelligent processing and application of everything through intelligent computing technology.
- Immersion Liquid-Cooled Computer: A computer that cools key components by fully immersing them in special liquid, resulting in lower energy consumption.
- Computing Power: Refers to computational capability, a new form of productive force in the digital economy era.
- Three-Dimensional Computing: Refers to a multi-dimensional layout and vertical-horizontal expansion that comprehensively addresses the construction, application, and ecosystem of computing resources.
Video Game
Hideo Kojima Reveals Death Stranding 2 Progress at Tokyo Game Show 2024
Hideo Kojima, at Tokyo Game Show 2024, disclosed that Death Stranding 2 is roughly 30-40% complete. Despite the substantial work remaining, the game remains on track for a 2025 release.
Tokyo Game Show 2024: A major event where video game developers and companies showcase upcoming games and technologies.
ScoresEntertainment
New Film 'Rez Ball' Depicts Navajo Nation Basketball Culture
"Rez Ball," a film inspired by New York Times articles, debuts on Netflix this Friday. Directed by Navajo filmmaker Sydney Freeland, it follows the Chuska Warriors basketball team of the Navajo Nation. The team's journey to championship glory is set against the backdrop of community loss.
ScoresOasis Announces 2025 World Tour with Concerts in North America and Mexico
Oasis, the band of the Gallagher brothers, is back. Their 2025 tour will hit the US, Canada, and Mexico. After teasing fans with billboards, they've confirmed the dates: Toronto on August 24, Chicago on August 28, New Jersey on August 31, Los Angeles on September 6, and Mexico City on September 12. Cage the Elephant will be the opening act.
This tour marks their first in these regions since 2008. Their 1994-95 American debut was chaotic, with Noel Gallagher briefly quitting after a drunken show in LA.
The band's already sold-out UK and Ireland dates have added five more shows due to high demand. Initial ticket sales were marred by technical issues and high prices, leading to two new Wembley Stadium shows via a ballot.
Dynamic pricing, where ticket prices fluctuate based on demand, caused uproar. Oasis claimed ignorance, blaming promoters. The government plans to review this practice. Consumer groups want refunds for overcharged fans.
Ticketmaster defends dynamic pricing, saying it deters scalpers. Liam Gallagher dismissed critics, telling one to "shut up" and another to buy "kneeling tickets."
Dynamic pricing: A method where ticket prices change based on demand, often leading to higher prices as demand increases.
ScoresHealth
New Discovery in Human Embryonic Development Could Revolutionize Reproductive Technologies
Researchers have identified a potential "pause button" in human embryonic development. This mechanism, similar to the dormant state observed in some animals, could delay embryo growth. The study, published in Cell, utilized human stem cells and embryoid models to investigate the mTOR signaling pathway. Inhibiting mTOR triggered a dormant state, marked by slowed cell division and reduced attachment to the uterine wall.
This dormant state is reversible and seems to be confined to early embryonic stages. The researchers propose that humans may retain an evolutionary remnant of this ability, even if it is not naturally employed during pregnancy.
The findings could influence reproductive technologies such as IVF. Accelerating embryo development through mTOR activation might enhance IVF success rates, while inducing dormancy could offer more time to evaluate embryo health and improve implantation.
In essence, this research reveals a previously unrecognized facet of human development, potentially paving the way for advancements in reproductive health.
ScoresNon-invasive laser device for real-time identification of stroke risk
Researchers from the California Institute of Technology and the Keck School of Medicine at the University of Southern California have developed a laser-based wearable device capable of non-invasively and in real-time identifying stroke risk. The device uses infrared lasers to pass through the skull, monitoring changes in cerebral blood flow, and analyzes the blood flow velocity using a speckle contrast optical spectroscopy (SCOS) system.
The study recruited 50 participants, divided into high-risk and low-risk groups. The device analyzed cerebral blood flow and volume while participants held their breath, revealing significant differences between the two groups. Professor Chonghuai Yang of the California Institute of Technology noted that SCOS can measure the degree of vascular dilation and blood flow velocity, reflecting vascular stiffness, a unique non-invasive measurement capability of transcranial optical methods.
The research team is exploring the application of machine learning in data analysis and plans to conduct long-term clinical trials. Charles Liu of the University of Southern California believes that the technology has the potential to be included in annual physical examinations, providing doctors with important health information, particularly beneficial for communities with limited medical resources.
This research was published in the journal Biomedical Optics Express, showcasing the potential of laser technology in medical diagnostics and potentially bringing revolutionary changes to stroke risk assessment.
ScoresSports
Basketball Legend Dikembe Mutombo Dies at 58
Dikembe Mutombo, 58, passed away from brain cancer. A towering 7ft 2in, he was a basketball legend—second all-time in blocked shots, an eight-time All-Star, and four-time defensive player of the year. His No. 55 jersey was retired by the Atlanta Hawks and Denver Nuggets.
Off the court, Mutombo was a humanitarian. His foundation improved health in the Democratic Republic of Congo. NBA Commissioner Adam Silver called him the league’s first Global Ambassador, praising his impact on communities.
Mutombo’s playful finger wag after blocks became iconic. He spoke seven languages and served on boards like Special Olympics International and the CDC Foundation.
His family revealed his cancer treatment two years ago. Mutombo left behind his wife, Rose, and seven children, including a son, Ryan, who follows in his father’s footsteps at Georgetown.
ScoresMilan Police Arrest 19 in Crackdown on Football Ultras with Mafia Ties
Milan police arrested 19 people linked to football ultras, mostly accused of mafia ties. Among them, Luca Lucci and Renato Bosetti, leaders of AC Milan and Inter Milan ultras, respectively. Lucci, previously convicted on drug charges, was seen shaking hands with Matteo Salvini, Italy’s deputy prime minister.
The investigation began after Antonio Bellocco, a powerful ’Ndrangheta member, was murdered in September. Bellocco’s close associate, Marco Ferdico, was also arrested, along with Alex Cologno and Christian Rosiello, described as rapper Fedez’s “friends and bodyguards.”
Charges include criminal conspiracy, extortion, assault, and other serious crimes. Milan prosecutor Marcello Viola called it a “complex investigation” involving various police branches. He noted illicit activities at San Siro stadium were “beyond control,” partly due to management shortcomings.
AC Milan and Inter Milan fans made a “non-belligerence” agreement in 1981 after a fan’s death. Police say the pact evolved into a profit-driven business deal, infiltrating “every possible profitable aspect of football.” Ultras are known for their organization, violence, and racism, with leaders earning thousands monthly from illegal activities.
ScoresFood
Xiongmao Waimai Completes $55 Million D+ Round Financing, Anticipates Annual Revenue to Exceed $1 Billion This Year
HungryPanda recently completed a $55 million Series D+ funding round, led by Mars Growth Capital and Liquidity Group. The funds will be used to expand into overseas markets and serve Asian and minority communities.
Founded in Nottingham, UK in 2017, HungryPanda specializes in Chinese food delivery and fresh produce distribution. It covers over 80 cities in 10 countries, with over 100,000 registered merchants, 80,000 delivery riders, and 6.5 million global users.
The platform employs crowdsourced delivery and shares rider resources with Uber Eats. It has developed an intelligent dispatch system for flexible order allocation.
Recognizing the immature delivery services for overseas Chinese restaurants, HungryPanda provides packaging materials compliant with local regulations to enhance service quality.
In 2022, it launched fresh produce delivery services, with central warehouses and front-store facilities in the UK, offering delivery within three hours.
HungryPanda has expanded to 10 countries, with GMV growth in North America exceeding 55%. It is expected to surpass $1 billion in annual revenue this year.
The platform offers multiple language versions to serve different ethnic groups. It plans to cover more minority communities, penetrate second and third-tier cities, and expand its B2B fresh ingredient supply.
The founding team consists of UK alumni with entrepreneurial experience. The brand initially started as a campus incubation project.
ScoresExtreme weather and geopolitical risks converge, putting upward pressure on global food prices.
Extreme weather has wreaked havoc globally, from Asia to the Americas, with droughts, heavy rains, and wildfires wreaking havoc on crop yields. Major agricultural commodity prices have surged in response, with the Bloomberg Agriculture Spot Index rising about 7% in September, marking its largest monthly gain since the Russia-Ukraine conflict.
Farmers in Brazil, Vietnam, Australia, and other regions are grappling with floods or droughts, affecting the production of sugar, grains, coffee, and other crops. Michael Whitehead, an agricultural director at ANZ Bank, noted that adverse weather conditions are driving up food prices due to increased supply uncertainties.
Chicago wheat futures have surged, with Australian wheat threatened by drought and frost, and insufficient rainfall in the Black Sea region. Soybean futures have seen their biggest two-year gain, as Brazil faces its worst drought in decades. Sugar futures have risen nearly 17%, and Arabica coffee prices have reached their highest level since 2011.
Droughts and heavy rains in Vietnam have impacted coffee production, while palm oil supplies in Southeast Asia have tightened, pushing futures prices to a five-month high. Hedge funds are betting on rising sugar and cocoa prices. JPMorgan has warned that ongoing droughts in northern and central Brazil pose a continued threat to crop yields.
Traders are monitoring the tense situation in the Middle East and the Black Sea, as well as the impact of the U.S. election on Sino-U.S. trade relations. The market is sensitive to volatility, with weather and political conditions both influencing food prices.
Brief Analysis:
The combination of extreme weather and geopolitical risks poses a severe challenge to the global food supply chain. Rising food prices are putting pressure on consumers, increasing the cost of living. Addressing climate change and stabilizing international relations are key to ensuring global food security.
Scores