Author: Daniel snow

US President Donald Trump prepares to sign executive orders in the Oval Office of the White House in Washington, DC, on May 23, 2025. Mandel Ngan | Afp | Getty ImagesU.S. President Donald Trump is expected to find a workaround after suffering a major blow to a core part of his economic agenda.The U.S. Court of International Trade on Wednesday ruled that the president had overstepped his authority by invoking the International Emergency Economic Powers Act (IEEPA) to impose sweeping tariffs on numerous countries.The Manhattan-based court not only ordered a permanent halt to most of Trump’s tariffs, but also barred…

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Deepseek’s logo on Jan. 29, 2025.Andrey Rudakov | Bloomberg | Getty ImagesChinese startup DeepSeek, which caused shockwaves across markets this year, quietly released an upgraded version of its artificial intelligence reasoning model.The company did not make an official announcement, but the upgrade of DeepSeek R1 was released on AI model repository Hugging Face.DeepSeek rose to prominence this year after its free, open-source R1 reasoning model outperformed offerings from rivals including Meta and OpenAI. The low-cost and short time of development shocked global markets, sparking concerns that U.S. tech giants were overspending on infrastructure and wiping billions of dollars of value…

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A Leopard 2 tank gear transmission in a production hall at the Renk AG plant in Augsburg, Germany, on Monday, May 8, 2023.Bloomberg | Bloomberg | Getty ImagesTank parts maker Renk is eyeing up talent from the auto sector as it races to scale up and fuel growth in the wake of rising geopolitical tensions and soaring military spending.Earlier this year Germany passed a historic fiscal package that enabled a steep increase in the defense spending capabilities of Europe’s largest economy. The 27-member state bloc is scaling up its defense efforts amid the war in Ukraine and the increasingly strained…

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