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Yevgeny Prigozhin: who is he?

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Yevgeny Prigozhin leads the Wagner Group’s involvement in Russia’s war of aggression against Ukraine as a high-profile, provocative mercenary leader. He has a long history of leadership in Moscow.

What is the Wagner Group?

During Russia’s invasion of Ukraine, the Wagner Group has worked alongside militant mercenaries. When Ukraine and Russia fought over the Crimean region in 2014, Wagner’s origins appear to have begun. Prigozhin said on social media that he wanted to develop fighters who could defend Russian interests in the region. A number of African countries have been affected by the group’s activities, including Libya, Syria, and several others.

As a result of the Ukraine war, the paramilitary force has grown exponentially, with tens of thousands of fighters now under its control. A frequent clash between Prigozhin and Russian military leaders has occurred as the Wagner Group’s head throughout the conflict. In the videos, he contradicts the Russian narrative that the military operation was smooth. Often, he asserts that his forces led the fight in Ukraine, whereas he questions the competence of Russian forces. He recorded a video alongside uniformed dead bodies in May, cursing the lack of preparedness of leaders.

FILE PHOTO: Yevgeny Prigozhin, founder of Russia’s Wagner mercenary force, speaks in Paraskoviivka, Ukraine in this still image from an undated video released on March 3, 2023. Concord Press Service/via REUTERS

Putin and Prigozhin: what is their relationship?

Putin and Prigozhin share a hometown, St. Petersburg (formerly Leningrad). Prigozhin served a decade-long prison sentence starting in his teenage years before starting a hot-dog stand. Putin rose from KGB insider to Russian leader.

His hospitality industry clout quickly earned him Putin’s attention. Prigozhin served Putin’s state dinners, including one with George W. Bush in 2006, which earned him the nickname “Putin’s chef.”

Putin helped Prigozhin open a school-lunch factory on generous state-funded loans. At least part of Prigozhin’s ownership in Concord Management and Consulting was implicated in pro-Trump trolling operations during the 2016 election by Justice Department officials.

What motivated Prigozhin to do what he did?

On Friday, Prigozhin criticised the country’s leadership for starting the war and stated that Ukrainian forces were pushing back the Russian army. In the evening of Friday, Prigozhin claimed that Russian military leaders had ordered strikes against his men, which resulted in the death of thousands of men.

“The war was needed for a bunch of scumbags to triumph and show how strong of an army they are,” Prigozhin said Friday, speculating that the effort was part of the defense minister’s plan to get promoted.

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U.S. approves Nvidia H200 chip exports to China amid tensions

U.S. approves Nvidia’s H200 AI chip exports to China, balancing security with tech collaboration amid ongoing tensions.

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U.S. approves Nvidia’s H200 AI chip exports to China, balancing security with tech collaboration amid ongoing tensions.


The U.S. Commerce Department has approved exports of Nvidia’s H200 AI chips to China, signaling a cautious compromise in the ongoing technology standoff between the two countries. This decision reflects efforts to balance national security concerns with continued technological collaboration.

Nvidia shares jumped 2% following the announcement, showing investor optimism about the move. Analysts are closely watching how Chinese firms will respond and whether they will aggressively pursue these high-performance AI chips.

Despite the approval, concerns remain about the potential military applications of AI technology. Officials emphasize that the decision aims to protect U.S. interests while navigating complex international tech dynamics.

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#Nvidia #AIChips #ChinaTech #USChina #TechTensions #Semiconductors #H200 #InvestorNews


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Fed faces challenges ahead of Trump’s nominee as rate decisions loom

Fed faces critical leadership transition as Trump nominates new chair amid economic uncertainty and potential rate cut discussions.

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Fed faces critical leadership transition as Trump nominates new chair amid economic uncertainty and potential rate cut discussions.


The U.S. Federal Reserve is entering a critical period as it prepares for President Donald Trump’s upcoming nominee to lead the central bank. Markets are closely watching how the Fed will navigate this leadership transition amid ongoing economic uncertainty.

The Fed’s two-day meeting could result in a modest quarter-percentage-point rate cut. However, future policy decisions will hinge on key economic projections and inflation trends, leaving analysts debating how much room the central bank really has to maneuver.

Trump is pushing for lower interest rates to boost the housing market before the midterms, but this could complicate the next Fed chair’s path. Data delays from the recent government shutdown may also affect the Fed’s decision-making this week, adding another layer of uncertainty.

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#FederalReserve #InterestRates #TrumpNominee #EconomicPolicy #Inflation #RateCut #HousingMarket #MarketUpdate


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Paramount makes $108B hostile bid for Warner Bros Discovery

Paramount’s $108.4B bid for Warner Bros reshapes media landscape, likely facing antitrust hurdles amid board’s Netflix preference.

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Paramount’s $108.4B bid for Warner Bros reshapes media landscape, likely facing antitrust hurdles amid board’s Netflix preference.


Paramount has launched a staggering $108.4 billion hostile bid to acquire Warner Bros Discovery, shaking up the media landscape. The proposal, supported by Jared Kushner’s investment firm and Middle Eastern funds, offers $18 billion more in cash than Netflix’s recent $72 billion deal for the same assets.

Warner Bros’ board is currently reviewing the Paramount offer but continues to recommend the Netflix deal. Analysts warn that a merger of this scale could face intense antitrust scrutiny, potentially delaying or even blocking the deal.

Paramount argues that its acquisition would boost competition and provide stronger support for the creative community, promising a new chapter in Hollywood consolidation.

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#Paramount #WarnerBros #HostileBid #MediaMerger #Netflix #HollywoodNews #Mergers #EntertainmentNews


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