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China’s military spending balloons amid mounting debt

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As China talks tough on the world stage when it comes to Taiwan, all that military spending comes at a cost. And it’s now impacting Beijing’s bottom line

 
Despite the government’s modest economic growth forecast, China will increase defence spending by 7.2% this year as Premier Li Keqiang called for an increase in combat readiness.

The national budget released earlier this year showed 1.55 trillion yuan ($224 billion) allocated to military spending.

As tensions over Taiwan have risen in recent years, China’s neighbours and the United States will closely monitor the defence budget.

Defence spending has risen by a single digit for the eighth consecutive year. There was no breakdown of spending like in previous years, only the overall amount and the rate of growth.

As the world’s second-largest economy faces domestic headwinds, the spending increase exceeds targeted economic growth of around 5 per cent.

In addition to Chinese-claimed Taiwan, U.S. naval and air missions near Chinese-occupied islands in the disputed South China Sea cause Beijing concern.

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Apple removes generative ‘AI’ apps used to make deepfake nudes

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Deepfakes are incredibly realistic, making it difficult to distinguish between real versus manipulated media.

Apple has removed several generative AI apps from the App Store after an online publication discovered the apps could be used to create nonconsensual nude images.

The number of deepfake porn images and videos has rapidly grown on social media—even ensnaring unsuspecting teens as well as public figures like Taylor Swift.

Oz Sultan, the Chief Strategist with the Sultan Interactive Group joins Veronica Dudo to discuss.

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Will Boeing’s $10B debt offering help it soar?

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Boeing has reportedly turned to the debt market, aiming to raise $10 billion in a bid to strengthen its financial position.

On this episode of Hot Shots – Boeing turn to the debt market, Paramount CEO leaves, Elon Musk makes an EV breakthrough in China and Apple strikes back against explicit AI app.

Ticker’s Ahron Young and Veronica Dudo discuss.

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New U.S. pilot training program aims to increase pilot diversity and solve shortages

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A partnership is encouraging, recruiting, and educating future African-American pilots with first-rate in-classroom and in-flight instruction.

Leadership In Flight Training Academy – one of the largest flight academies in America – and Tuskegee University – a historically black college – unveiled a new partnership to develop a state-of-the-art flight training program that will prepare the next generation of aspiring pilots from the University for a career in the airline industry.

The program will begin in the Fall of 2024 at the historic Moton Airfield where the legendary Tuskegee Airmen trained.

Matt Koscal, the Executive Vice President and Chief Administrative Officer of Republic Airways Holdings Inc. joins Veronica Dudo to discuss.

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