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What is US Biosecure Act and Its Implications

24Aug By PriyankaNo Comments

USA

What is US Biosecure Act and Its Implications

Washington, 24th August 2024: The United States is poised to enact the US Biosecure Act, a groundbreaking legislation that will significantly influence the global biotechnology and pharmaceutical sectors. This Act aims to bolster national security by restricting US federal agencies from engaging with “biotechnology companies of concern,” particularly those associated with China. Key players on this list include companies like BGI, MGI, Complete Genomics, WuXi AppTec, and WuXi Biologics, which are perceived as threats to US interests. The implementation of this Act could unlock considerable opportunities for India's pharmaceutical sector, provided that India enhances its regulatory frameworks to guarantee the safety and effectiveness of its offerings. National Security Considerations ...

US Tech Companies’ Shift to Nuclear Powered Data Centers

18Jul By PriyankaNo Comments

USA

US Tech Companies’ Shift to Nuclear Powered Data Centers

Texas, 18th Jan 2024: Tech companies, such as Amazon Web Services, are making deals with US based nuclear power plants to secure electricity for their data centers, driven by the increasing demands of artificial intelligence. While this move offers 24/7 carbon-free power, it has sparked controversy due to concerns about potentially diverting existing energy supplies, raising prices, and increasing reliance on natural gas. The concept of nuclear-powered data centers raises debates surrounding economic development, grid reliability, and climate goals, prompting questions about whether this is a step towards the future of tech or a risky gamble with unforeseen consequences. According to a report by WSJ, approximately one-third of the United States' nuclear power reactors' owners are in ta...

The Truth Behind Saudi Arabia’s Alleged End of Petrodollar Deal with the US

18Jun By NitishNo Comments

USA

The Truth Behind Saudi Arabia’s Alleged End of Petrodollar Deal with the US

In recent weeks, rumors have swirled regarding the purported end of Saudi Arabia's petrodollar deal with the United States. Speculation surrounding this significant economic agreement has sparked debates and uncertainties across global financial markets. Despite the widespread chatter, the situation remains unconfirmed, leaving many to question the validity of these claims. The petrodollar system, established in the June 1974, solidified the US dollar as the primary currency for international oil trades. This arrangement has long been a cornerstone of global economics, shaping geopolitical dynamics and influencing market stability. Any potential shift in this arrangement could have far-reaching implications for both nations involved and the broader international community. While repo...

President Biden Plans to Triple Steel and Aluminum Tariffs on China

18Apr By NitishNo Comments

USA

President Biden Plans to Triple Steel and Aluminum Tariffs on China

Washington, 18th April 2024: In response to concerns raised by labor unions regarding the impact of cheap Chinese exports on the U.S. steel industry, President Joe Biden is set to triple tariffs on steel and aluminum imports from China. Biden, speaking to the United Steelworkers union in Pittsburgh, Pennsylvania, emphasized the need for action against what he called cheating by Chinese steel companies. He highlighted the damage caused by unfairly low-priced Chinese steel products in the American market. Biden's proposal to increase tariffs on steel and aluminum imports from China aligns with his efforts to support the U.S. steel industry and create manufacturing jobs. The move also aims to address China's heavy subsidization of its steel companies, which have been flooding global mar...

US House Set to Vote on Controversial TikTok Ban

13Mar By AnkitaNo Comments

USA

US House Set to Vote on Controversial TikTok Ban

13th March 2024, Washington: The US House of Representatives is set to vote on Wednesday on a bill that could potentially force TikTok ban in the United States. The proposed legislation poses the most significant threat to TikTok yet, as concerns have mounted among governments and security officials regarding its Chinese ownership and potential allegiance to the Communist Party in Beijing. The scheduled vote, expected to take place at 10:00 am, is anticipated to pass with widespread support, showcasing a rare moment of bipartisan unity in the currently divided political landscape in Washington. While the outcome of the bill remains uncertain in the Senate, where key figures are hesitant to take such drastic action against a widely-used app boasting 170 million US users, President ...

Ex-Binance CEO Zhao’s Lawyers Urge U.S. Judge to Reject Travel Restrictions in Money Laundering Case

25Nov By AdityaNo Comments

USA

Ex-Binance CEO Zhao’s Lawyers Urge U.S. Judge to Reject Travel Restrictions in Money Laundering Case

NY, 25th November 2023: Lawyers representing former Binance CEO Changpeng Zhao are requesting the U.S. Department of Justice to allow him to return to his residence in the United Arab Emirates until he sentence for violating anti-money laundering regulations. In a Thursday motion, Zhao's legal team urged U.S. District Judge Richard Jones in Seattle to uphold the bail conditions set by a magistrate judge, which would permit Zhao to leave the United States while awaiting his sentencing. Changpeng Zhao, a citizen of both the UAE and Canada, resigned as the CEO of Binance after pleading guilty to knowingly causing the global cryptocurrency exchange to fail in maintaining an effective anti-money laundering program. U.S. authorities have accused Binance of violating U.S. anti-money la...

US averts default: House Passes debt ceiling bill to avoid default

2Jun By PriyankaNo Comments

USA

US averts default: House Passes debt ceiling bill to avoid default

Washington, Jun 2, 2023: The US Senate on late thursday passed bipartisan legislation backed by President Joe Biden that lifts the government's $31.4 trillion debt ceiling, averting what would have been a first-ever default. The Senate voted 63-36 in favor's to approve the bill that was passed on Wednesday by the House of Representatives, as lawmakers raced against the clock following months of partisan bickering between Democrats and Republicans. U.S. Senate Republican Leader Mitch McConnell stated, “Four months after Speaker McCarthy invited President Biden to begin negotiating a resolution to the looming debt crisis, an important step toward fiscal sanity will finally become law. “Thanks to House Republicans’ efforts, the Fiscal Responsibility Act avoids the catastrophic c...

Rising mortgage rates slow down home sales in US

19Oct By AnkitaNo Comments

USA

Rising mortgage rates slow down home sales in US

SEATTLE, Oct. 19, 2022 -- The housing market continued to cool in September, though rebalancing from monumental appreciation is producing vastly different conditions depending on region and metro, according to latest market report. Affordability issues are driving the pullback in activity; steep prices mixed with high and volatile mortgage rates have stunted sales and frozen current owners in their homes, reducing the flow of new inventory. Current homeowners are looking at home prices and the mortgage market and deciding to stay put. Among home sellers, 71% are also buyers. Homeowners who either bought or refinanced at record-low rates over the past two years understand that current rates are going to yield a lot less home than they're currently in unless they seek out a much mor...

Esports Growing In High Schools Everywhere

25Feb By AnkitaNo Comments

USA

Esports Growing In High Schools Everywhere

The numbers surrounding video gaming and Esports are very eye-raising as they become more and more popular. Video games were once just a form of entertainment and they have now evolved into such a worldwide phenomenon that is bringing in billions of dollars of revenue a year, and that’s just off the game playing and Esports alone! And since 2018, the growth of Esports has even found its way into the realm of competitive high school sports. The odds of your local high school having an Esports club or an Esports team is probably much better than your March Madness odds. But how and why did high schools get into Esports? And what does Esports look like at the high school level? Let’s dig in and find out. Roots in Student Interest The growth of Esports in high schools across the c...

Microsoft Wins $22 Billion Deal to make VR Headsets for US Army

2Apr By AnkitaNo Comments

USA

Microsoft Wins $22 Billion Deal to make VR Headsets for US Army

Earlier today, the United States Army announced Microsoft won its $22 billion VR headset deal. In contract Microsoft to supply U.S. Army combat troops with its augmented reality headsets including Integrated Visual Augmentation System (IVAS) program as it moves from rapid prototyping to production and rapid fielding. The IVAS headset, based on HoloLens and augmented by Microsoft Azure cloud services, delivers a platform that will keep Soldiers safer and make them more effective. The program delivers enhanced situational awareness, enabling information sharing and decision-making in a variety of scenarios. The IVAS aggregates multiple technologies into an architecture that allows the Soldier to Fight, Rehearse, and Train using a single platform. The suite of capabilities leverages ex...

What Can We Expect from the US Dollar in 2021?

24Feb By AnkitaNo Comments

USA

What Can We Expect from the US Dollar in 2021?

2020 was a year of turbulence and fluctuations for the US dollar, as it dropped as low as it has been in a couple of years. What can we expect to happen as we look forward to next year? How Has 2020 Gone? USD tends to perform well against other currencies in times of economic turmoil, as investors look for the safety of the dollar. This helped it to climb earlier in the year, but the trend in the second half of 2020 has been for people to put their money into riskier investments, causing the dollar to drop. Indeed, the hope that 2021 will see other markets surge has led to investors putting more money into the likes of stocks and commodities. The euro and Swiss franc have both reached levels not seen since 2018, while even the uncertainty surrounding Brexit hasn’t stopped the ...

US Unemployment Rate Fall to 7.9%, 661,000 Jobs are Added

2Oct By PriyankaNo Comments

USA

US Unemployment Rate Fall to 7.9%, 661,000 Jobs are Added

Washington, 2nd Oct 2020: The US economy added 661,000 jobs in September, the Labor Department said on Friday. Total nonfarm payroll employment increased by 661,000 in September. The unemployment rate dropped to 7.9 percent compared to 8.4% in the previous quarter, but the true rate, after adjusting for the misclassification error, was 8.3 percent. Between February and April, more than 22 million jobs were lost. Since April, 52% of those jobs have been recovered. However, recent data suggest that the rate of job recovery is slowing. We expect the US growth and jobs revivals to continue to decelerate in the coming months as the number of new Covid-19 cases is growing, layoff rates remain high, and weaker government stimulus limit the spending capacity of many households. As l...