- Israel Intensifies Airstrikes on Rafah: Israel escalated its air attacks on Rafah, Gaza, after announcing plans to evacuate civilians and launch a full-scale assault. Allied nations cautioned against potential civilian casualties.
- Yellen Optimistic about US Economy: US Treasury Secretary Janet Yellen expressed confidence in the US economic growth, anticipating it to outperform recent GDP data. The Biden administration prepares to address challenges posed by China’s industrial overcapacity.
- ByteDance Mulls TikTok Shutdown: Reports suggest ByteDance is considering shutting down TikTok instead of selling it to the US amid concerns over potential bans on the app from various US app stores.
- China Approves Tariff Law: China approved a new Tariff Law, signaling readiness to retaliate against import tariffs imposed by trading partners. The move draws criticism from the US and EU for China’s industrial capacity.
- FCC Votes to Reinstate Net Neutrality: The US Federal Communications Commission voted to reinstate net neutrality rules, reverting to broadband internet regulation after their repeal under the Trump administration.
- Pakistan Denies US Human Rights Report: Pakistan rebuffed a US State Department report accusing it of human rights violations, dismissing it as politically motivated and overlooking more pressing issues such as those in Gaza.
- Huawei Regains Top Spot in Chinese Smartphone Market: Huawei reclaimed the top position in the Chinese smartphone market, surpassing US tech giants despite ongoing challenges from the US. Apple dropped to fifth place.
- Toyota and Nissan Forge AI Partnerships: Toyota announced a collaboration with Tencent, while Nissan partnered with Baidu, underscoring the growing importance of artificial intelligence for automakers.
- Red Lobster Seeks Buyer Amid Financial Strain: Reports suggest that Red Lobster, a renowned US seafood restaurant chain, is exploring sale options to avoid bankruptcy.
- BOJ Governor Addresses Currency Concerns: Bank of Japan Governor Kazuo Ueda stated that the BOJ sees no immediate impact of the weakening yen on inflation but remains vigilant.
