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Sunak calls for Australia to find solution to Comm Games cancellation

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The UK downplays the idea of hosting the event again after the Victorian Government abruptly cancelled the 2026 event citing a cost blowout

Downing Street expressed optimism in finding a “viable solution” for the 2026 Commonwealth Games originally planned in Australia, but dismissed the idea of the UK stepping in to host the event. 

Scotland’s First Minister, Humza Yousaf, expressed interest in exploring the possibility of hosting the games as part of a multi-country UK bid.

Victoria’s premier, Daniel Andrews, had announced the state’s withdrawal due to escalating staging costs.

“This is a disappointing outcome for both fans and athletes,” Prime Minister Rishi Sunak’s official spokesman said.

“We hope that the Victoria state government, the Games federation and Commonwealth Games Australia will now work together to find a viable solution to hosting the event in 2026.”

In 2017, Birmingham took over the hosting rights for the 2022 Commonwealth Games after the Federation stripped Durban, South Africa, of the opportunity.

The event’s cost in Birmingham was £778m (AU$1.5bn), with funding shared between the central government and Birmingham City Council. An independent report highlighted the positive contribution of £870.7m (AU$1.7bn) to the UK economy.

When asked about encouraging a home nation to host the 2026 event, the government spokesperson advised against rushing into decisions.

“In the first instance it’s for those bodies and groups I’ve just mentioned to have those discussions and see if a solution can be found,” said the spokesperson.

“Obviously the UK has been honoured to host the Games twice in the past decade (Birmingham 2022 and Glasgow 2014) so we will see what comes out of those initial discussions.”

Katie Sadleir, the chief executive of the Commonwealth Games Federation, welcomed the possibility of Scotland being part of a multi-city, multi-country host.

“The UK are fantastic hosts and we would be very open to having a conversation with them about it, if that’s something they would be interested in doing,” she said.

Humza Yousaf expressed interest in exploring the possibility, while England, Scotland, and Wales’ national Commonwealth federations were disappointed by Victoria’s withdrawal, stating it was unsettling for athletes.

 

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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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