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Risch urges ‘top to bottom’ USAID spending review after waste, fraud exposed

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Chairman of the Senate Foreign Relations Committee Sen. Jim Risch, R-Idaho, said a thorough review of spending from the U.S. Agency for International Development (USAID) is warranted, following the Trump administration’s efforts to overhaul the agency.  

USAID was an independent agency to provide impoverished countries aid and offer development assistance, but the agency was upended since February when President Donald Trump installed Secretary of State Marco Rubio to oversee the organization amid concerns that USAID did not advance U.S. core interests. Since then, the agency has faced layoffs and is being absorbed into the State Department. 

This increased scrutiny on USAID spending is valid, according to Risch. 

‘The amount of money that we’re spending on that has to be reviewed top to bottom,’ Risch said during an event Wednesday at the Washington-based think tank the Hudson Institute.  

Risch said that several weeks into the Trump administration, he and others, including Rubio, evaluated a list of programs that detailed $3 million in funding for ‘promotion of democracy in Lower Slobovia.’ According to Risch, the description didn’t provide enough information and items like these are totaling up to billions of dollars that must undergo review.

‘Lower Slobovia’ is a fictional place and a term used by Americans to describe an underdeveloped foreign country.

‘We can do so much better, not only in how, how much money we spend, but how we spend it,’ Risch said. ‘So, if you say, well, we’re eliminating this program, be careful you don’t say, ‘Oh, that means we’re walking away from human rights.’ Look, America is human rights. If America leads the way on human rights. We are the world standard on human rights. We have no intention of giving that position up.’

The Department of Government Efficiency (DOGE) targeted USAID in its push to eliminate wasteful spending. The agency came under fire for many funding choices, including allocating $1.5 million for a program that sought to ‘advance diversity, equity and inclusion in Serbia’s workplaces and business communities’ and a $70,000 program for a ‘DEI musical’ in Ireland.

As a result, Rubio announced on March 11 that the State Department completed a six-week review and would cancel more than 80% of USAID programs — cutting roughly 5,200 of USAID’s 6,200 programs.

Fox News Digital was the first to report later in March that the State Department planned to absorb the remaining operations and programs USAID runs so it would no longer function as an independent agency. 

The move means eliminating thousands of staff members in an attempt to enhance the existing, ‘life-saving’ foreign assistance programs, according to a State Department memo that Fox News Digital obtained.

 

‘Foreign assistance done right can advance our national interests, protect our borders, and strengthen our partnerships with key allies,’ Rubio said in a March statement to Fox News Digital. ‘Unfortunately, USAID strayed from its original mission long ago. As a result, the gains were too few and the costs were too high.’ 

‘We are reorienting our foreign assistance programs to align directly with what is best for the United States and our citizens,’ Rubio said. ‘We are continuing essential lifesaving programs and making strategic investments that strengthen our partners and our own country.’

Meanwhile, Democrats slammed the restructuring of the agency, labeling the move ‘illegal.’ 

‘Donald Trump and Elon Musk’s destruction and dismantling of USAID is not only disastrous foreign policy and counter to our national security interests; it is plainly illegal,’ the top Democrat on the House Foreign Affairs Committee Rep. Gregory Meeks, D-N.Y., said in a statement in March. ‘Congress wrote a law establishing USAID as an independent agency with its own appropriation, and only Congress can eliminate it.’ 

This post appeared first on FOX NEWS

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Trump Admin Strips “Safety” from AI Oversight Institute in Move to Rebrand

The Trump administration announced a rebrand of the US Artificial Intelligence (AI) Safety Institute, stripping the word “safety” from the organization’s title and mission.

The institute, once tasked with developing standards to ensure AI model transparency, robustness and reliability, will now be known as the Center for AI Standards and Innovation (CAISI). According to the announcement, its focus will be on enhancing US competitiveness and guarding against foreign threats, not constraining the industry with regulations.

The decision, announced on Tuesday (June 3) by US Secretary of Commerce Howard Lutnick, marks a sharp departure from the Biden-era posture on AI governance.

‘For far too long, censorship and regulations have been used under the guise of national security. Innovators will no longer be limited by these standards,” Lutnick said in a statement.

“CAISI will evaluate and enhance US innovation of these rapidly developing commercial AI systems while ensuring they remain secure to our national security standards.”

Established in November 2023 under President Joe Biden’s executive order on AI, the original AI Safety Institute was housed within the National Institute of Standards and Technology (NIST). It aimed to assess AI risks, publish safety benchmarks and convene stakeholders in a consortium focused on responsible AI development.

But with the Trump administration’s return to the White House, the emphasis has shifted.

Instead of curbing AI risks through regulation and safety protocols, the renamed CAISI will now prioritize “pro-innovation” objectives, including the evaluation of foreign AI threats, mitigation of potential backdoors and malware in adversarial models and avoidance of what the administration sees as regulatory overreach from foreign governments.

According to the commerce department, CAISI’s primary tasks will include collaborating with NIST laboratories to help the private sector develop voluntary standards that enhance the security of AI systems, particularly in areas like cybersecurity, biosecurity and the misuse of chemical technologies. The center will also establish voluntary agreements with AI developers and evaluators, and lead unclassified evaluations of AI capabilities that may pose national security risks.

In addition to those directives, CAISI will lead comprehensive assessments of both domestic and foreign AI systems, focusing on how adversary technologies are being adopted and used, and identifying any vulnerabilities, such as backdoors or covert malicious behavior, that could pose security threats.

The center is also expected to work closely with the Department of Defense, the Department of Energy, the Department of Homeland Security, the Office of Science and Technology Policy, and the intelligence community.

CAISI will remain housed within NIST and will continue to work with NIST’s internal organizations, including the Information Technology Laboratory and the Bureau of Industry and Security.

Rise of foreign AI spurs national security concerns

The reformation of the institute reflects Trump’s broader AI strategy: loosen domestic oversight while doubling down on global AI dominance. Within his first week back in office, Trump signed an executive order revoking Biden’s prior directives on AI governance and removed his AI policy documents from the White House website.

That same week, he announced the US$500 billion Stargate initiative — a massive public-private partnership involving OpenAI, Oracle and SoftBank Group (OTC Pink:SOBKY,TSE:9984) that is intended to make the US the global leader in AI.

The Trump administration’s pivot has been partly catalyzed by growing concerns over foreign AI competition, particularly from China. In January, Chinese tech firm DeepSeek unveiled a powerful AI assistant app, raising alarms in Washington due to its technical sophistication and uncertain security architecture.

Trump called the app a ‘wake-up call,” and lawmakers quickly moved to introduce legislation banning DeepSeek from all government devices. The Navy also issued internal guidance advising its personnel not to use the app “in any capacity.”

Signs of an impending transformation had emerged earlier in the year.

Reuters reported in February that no one from the original AI Safety Institute attended the high-profile AI summit in Paris that month, despite Vice President JD Vance representing the US delegation.

Trump’s One Big Beautiful Bill reshaping US AI governance

Trump’s massive One Big Beautiful Bill, which includes much of the aforementioned legislation, is poised to dramatically reshape the landscape of AI regulation in the US. The bill introduces a 10 year moratorium on state-level AI laws, effectively centralizing regulatory authority at the federal level.

This move aims to eliminate the patchwork of state regulations, which the administration claims would foster a uniform national framework to bolster American competitiveness in the global AI arena.

The bill’s provision to preempt state AI regulations has sparked significant controversy.

A coalition of 260 bipartisan state lawmakers from all 50 states has urged to remove this clause, arguing that it undermines state autonomy and hampers the ability to address local AI-related concerns. Critics also warn that the moratorium could delay necessary protections, potentially endangering innovation, transparency and public trust. They argue that it may isolate the US from global AI norms and reinforce monopolies within the industry.

Despite the backlash, proponents within the Trump administration assert that the bill is essential for maintaining US leadership in AI. The One Big Beautiful Bill is currently being debated in the US Senate.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Should You Invest in Silver Bullion?

Investing in silver bullion has pros and cons, and what’s right for one investor may not work for another.

Interest in the silver market tends to flourish whenever the silver price increases, with investors beginning to wonder if silver is a good investment and it is the right time to add physical silver to their investment portfolios.

While silver can be volatile, the precious metal is also seen as a safe-haven asset, similar to its sister metal gold. Safe-haven investments can offer protection in times of uncertainty, and with tensions running high, they could be a good choice for those looking to preserve their wealth in difficult times.

With those factors in mind, let’s look at the pros and cons of buying silver bullion.

What are the pros of investing in silver bullion?

Silver can offer protection

Silver bullion is often considered a good safe-haven asset. As mentioned, investors often flock to precious metals in times of turmoil, politically and economically. For example, physical silver and gold have both performed strongly in recent years against a background of geopolitical instability and high inflation.

Silver bullion is a tangible asset

While cash, mining stocks, bonds and other financial products are accepted forms of wealth, they are essentially still digital promissory notes. For that reason, they are all vulnerable to depreciation due to actions like printing money. A troy ounce of silver bullion, on the other hand, is a finite tangible asset. That means that, although it is vulnerable to market fluctuations like other commodities, physical silver isn’t likely to completely crash because of its inherent and real value. Market participants can buy bullion in different forms, such as silver coins or silver jewelry, or they can buy silver bullion bars.

Silver’s cheaper and more flexible than gold

Compared to gold bullion, silver is significantly cheaper, which makes it more accessible for investors looking for an affordable entrance to the precious metals market. This can make it easier for investors to build up a portfolio over time.

Another benefit is that investors who need to convert their precious metals to currency will have an easier time selling a portion of their silver portfolio than those looking to sell part of their gold. Just as a US$100 bill can be a challenge to break at the store, divvying up an ounce of gold bullion can be a challenge. As a result, silver bullion is more practical and versatile, particularly for everyday investors who need flexibility in their investments.

Silver offers higher returns than gold

Silver tends to move in tandem with gold: when the price of gold rises, so too does the price of silver. Because the white metal is currently worth around 1/100th the price of gold, buying silver bullion is affordable and stands to see a much bigger percentage gain if the silver price goes up. In fact, silver has outperformed the gold price in bull markets. It’s possible for an investor to hedge their bets with silver bullion in their investment portfolio.

History is on silver’s side

Silver and gold have been used as legal tender for thousands of years, and that lineage lends them a sense of stability. Many buyers find comfort in knowing that silver has been recognized for its value throughout a great deal of mankind’s history, and so there’s an expectation that it will endure while a fiat currency may fall to the wayside. When individuals invest in physical silver, there is a reassurance that the metal has value that will continue to persist. Additionally, its increasing use as an industrial metal in the energy transition has improved the metals fundamentals even further.

What are the cons of investing in silver bullion?

Danger of theft

Unlike most other investments, such as stocks, holding silver bullion can leave investors vulnerable to theft. And of course, the more physical assets, including silver jewelry, that reside within your home, the more at risk you are for losing significantly if a burglary takes place. It’s possible to secure your assets from looting by using a safety deposit box in a bank or a safe box in your home, but this will incur additional costs.

Weaker return on investment

Silver may not perform as well as other investments, such as real estate or even other metals. Mining stocks, especially silver stocks that pay dividends, may also be a better option than silver bullion for some investors. Royalty and streaming companies are another option for those interested in investing in silver, as are exchange-traded funds and silver futures.

High silver demand leads to higher premiums

When investors try to buy any bullion product, such as an American silver ounce coin known as a silver eagle, they quickly find out that the physical silver price is generally higher than the silver spot price due to premiums used by sellers. What’s more, if demand is high, premiums can go up fast, making the purchase of physical silver bullion more expensive and a less attractive investment.

Bullion lacks quick liquidity

Silver bullion coins are not legal tender, meaning they can’t be used for every day purchases. Since the metal is usually used as an investment, this isn’t often an issue. However, it does mean that if silver needs to be sold in a hurry to cover expenses, investors will need to find a buyer. If you can’t access a bullion dealer and are in a jam, pawn shops and jewelers are an option, but they won’t necessarily pay well.

How to add physical silver to your portfolio?

How to buy silver digitally?

Larisa Sprott: Gold, Silver Early in Cycle, Smart Money Buying Now

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Justin Huhn: Uranium Game On — Supply “Mirage,” De-risked Demand, Next Price Move

Justin Huhn, editor and founder of Uranium Insider, talks uranium supply, demand and prices.

He emphasized that it’s still ‘very early’ in the cycle and that at this point no further catalysts are needed.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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US Capital Global Facilitates $50MM Financing to Accelerate Charbone Hydrogen’s North American Expansion

US Capital Global Securities LLC, the SEC-registered broker-dealer division of the global private financial group US Capital Global is pleased to announce that it has acted as lead advisor and facilitator on a project finance facility of up to $50 million for Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (‘Charbone’). The financing is being provided by a private fund managed by True Green Capital Management LLC (‘TGC’).

Headquartered in Montreal, Charbone is a rare publicly traded pure-play hydrogen company focused exclusively on the production and distribution of green hydrogen in North America. The company is developing modular production facilities targeting 99.999% purity (Grade 5.0) hydrogen, with all output pre-sold through tier-one offtake agreements.

‘We’re proud to have served as lead advisor to both Charbone and TGC on this transaction,’ said Charles Towle , CEO of US Capital Global Securities. ‘Charbone is gaining strong momentum as demand grows for clean hydrogen solutions to decarbonize the energy grid. With key sites in development across North America, we look forward to supporting the company’s continued growth. The transaction was led by Lisa Terk, Senior Vice President and a top CleanTech and Renewables banker at our global headquarters.’

‘This financing marks an important milestone in executing our long-term growth strategy,’ said Benoit Veilleux , CFO of Charbone. ‘We are grateful to US Capital Global for their consistent support and expertise throughout this process—from structuring and investor engagement to the successful completion of legal documentation.’

Hervé Touati , Managing Director at TGC, added: ‘We’re pleased to be financing Charbone and look forward to working together on this joint renewable clean energy initiative. We appreciate the diligence and insight of US Capital Global in bringing this opportunity to this stage.’

About Charbone Hydrogen Corporation

Charbone Hydrogen Corporation is an integrated green hydrogen company developing a North American network of modular production facilities while also leveraging commercial partnerships to distribute hydrogen, helium, and other industrial gases. This dual approach enhances revenue potential, reduces capital intensity, and increases flexibility. Charbone’s shares trade on the TSX Venture Exchange (TSXV: CH), OTC Markets (OTCQB: CHHYF), and Frankfurt Stock Exchange (FSE: K47). Learn more at www.charbone.com .

About True Green Capital Management

True Green Capital Management LLC (‘TGC’)  is a specialized renewable energy infrastructure fund manager with a focus in distributed power generation in the US and Europe. Since 2011, TGC has financed and managed clean energy assets that generate stable, low-correlated returns. Headquartered in Westport, Connecticut, TGC also maintains an office in London. Learn more at www.truegreencapital.com .

About US Capital Global

Founded in 1998, US Capital Global offers a range of advanced financial solutions, including debt, equity, and investment products customized for middle-market enterprises and investors. The firm oversees direct investment funds while delivering comprehensive wealth management and investment banking services, encompassing M&A strategies and capital raising expertise. Among the notable entities within the consortium are US Capital Global Investment Management LLC, US Capital Global Wealth Management LLC, and US Capital Global Securities LLC, an SEC-registered broker-dealer and member of FINRA. To learn more, visit www.uscapital.com .

For more information about this transaction, please contact Lisa Terk, Senior Vice President, at lterk@uscapital.com or call +1 415-889-1026.

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    Vanessa Guajardo US Capital Global +1 415 889 1010 media@uscapglobal.com

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    Crypto Market Recap: Strategy Eyes US$1B Raise for Bitcoin Push, UK Regulator Reverses ETN Ban

    Here’s a quick recap of the crypto landscape for Wednesday (June 4) as of 9:00 p.m. UTC.

    Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

    Bitcoin and Ethereum price update

    Bitcoin (BTC) was priced at US$105,057, as markets closed, down 1.1 percent in 24 hours. The day’s range for the cryptocurrency brought a low of US$104,648 and a high of US$105,484.

    Bitcoin price performance, June 4, 2025

    Chart via TradingView.

    Despite the price dip, institutional interest remains strong. Heath care technology provider Semler Scientific (NASDAQ:SMLR) recently acquired 185 BTC for US$20 million, bringing its total holdings to 4,449 BTC (US$500 million), underscoring continued confidence in Bitcoin’s long-term value.

    Market analysts are closely monitoring key resistance levels, with some anticipating a potential breakout that could influence broader cryptocurrency market dynamics in the days ahead. Crypto analyst Michaël van de Poppe suggested that a breakout above US$107,500 could pave the way for a new all-time high for Bitcoin and potentially push Ethereum’s price to US$3,000, identifying that level as a key area of concentrated derivatives market liquidity.

    Ethereum (ETH) finished the trading day at US$2,629.53, a 0.3 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$2,609 and saw a daily high of US$2,667.

    Altcoin price update

    • Solana (SOL) closed at US$155.69, down 3.1 percent over 24 hours. SOL experienced a low of US$155.60 in the final minutes of trading and reached a high of US$157.54.
    • XRP is trading at US$2.22, reflecting a 2.7 percent decrease over 24 hours. The cryptocurrency reached a daily low of US$2.21 and a high of US$2.26.
    • Sui (SUI) peaked at US$3.22, showing a decreaseof 3.2 percent over the past 24 hours. Its lowest valuation on Wednesday was US$3.19, and its highest was US$3.24.
    • Cardano (ADA) is trading at US$0.6746, down 2.4 percent over the past 24 hours. Its lowest price of the day was US$0.6742, and it reached a high of US$0.6900.

    Today’s crypto news to know

    Vance says Bitcoin Reserve Act is on the way

    At the Bitcoin 2025 conference, Frax Finance founder Sam Kazemian disclosed his private conversation with Vice President JD Vance, who revealed the administration’s sweeping crypto roadmap.

    According to Kazemian, Vance confirmed that stablecoin legislation is only the starting point, with a broader market structure bill and a Bitcoin Reserve Act also in the pipeline.

    This reserve act would codify Bitcoin as a long-term federal asset, mirroring how some countries hold gold. Vance emphasized bipartisan support and framed crypto as central to economic innovation.

    Kazemian also noted that Frax USD, his stablecoin project, may be designated legal tender under the upcoming legislation.

    GENIUS Act nears Senate vote amid sharp partisan divide

    The bipartisan GENIUS Act, aimed at regulating stablecoins, could reach the Senate floor by the end of the week, according to journalist Eleanor Terrett.

    Passed out of committee with a strong 66 to 32 vote in May, the bill still faces turbulence due to over 60 proposed amendments. Much of the friction stems from concerns over conflicts of interest tied to Trump’s crypto engagements, including his backing of the USD1 stablecoin.

    Lawmakers are now scrambling to trim the amendment list to a “manageable” level that both parties can agree on.

    If consensus is reached, the Senate could vote within days — but failure to compromise may delay the bill into next week. The bill’s progress is closely watched by the US$248 billion stablecoin industry.

    Truth Social takes aim at spot Bitcoin ETF market

    Interest in crypto-linked investment products continues to grow, with NYSE Arcafiling a proposal to list a spot Bitcoin exchange-traded fund (ETF) tied to Donald Trump’s media platform, Truth Social.

    Submitted on behalf of Yorkville America Digital, the proposed ETF would enter an increasingly competitive field of spot Bitcoin ETFs. If approved, it would be custodied by Foris DAX, the same provider used by Crypto.com.

    While the 19b-4 filing marks a key regulatory milestone, the ETF must still undergo US Securities and Exchange Commission review of its S-1 registration statement before it can move forward.

    Trump-linked crypto firm drops mini ‘stimulus check’ to wallets

    World Liberty Financial, a Trump-family-backed crypto firm, sent US$47 worth of its USD1 stablecoin to every wallet involved in its WLFI token sale, effectively issuing a small-scale “stimulus check.”

    The drop is being viewed as a marketing maneuver tied to growing momentum around the token, which is pegged to the US dollar and integrated with Chainlink’s CCIP for multichain expansion.

    Though the amount is modest, it helped spur conversation on social media and drew attention to USD1’s role in major deals, including a US$2 billion investment into Binance by MGX. World Liberty Financial currently boasts a US$200 million market cap for USD1 and is gearing up to release its own crypto wallet.

    WEF speculates DePIN market could reach US$3.5 trillion in three years

    According to a report published on Tuesday (June 3) by the World Economic Forum (WEF), the convergence of blockchain and artificial intelligence (AI) could see the DePIN market exceed US$3.5 trillion by 2028.

    The report cites the emergence of decentralized physical AI as a catalyst for the industry’s growth, referring to it as a “fundamental shift” in AI agent interactions with physical infrastructure and external data.

    Yet the report notes that companies face challenges when it comes to determining which developments to invest in and which are too immature to drive significant business value.

    It mentions that allocating limited resources across different technology maturity levels requires a disciplined approach to technology assessment that goes beyond traditional ROI calculations, recommending a balanced portfolio approach that considers future value and business model innovation potential.

    Hong Kong to launch digital asset derivatives trading

    According to a local report, Hong Kong’s securities regulator plans to launch digital asset derivatives trading for professional investors to broaden market offerings and strengthen Hong Kong’s position in the global digital asset space.

    The Hong Kong Securities and Futures Commission emphasizes prioritizing robust risk management, mandating that trades occur ‘in an orderly, transparent and secure manner.’

    To further enhance preferential tax regimes for funds, single-family offices and carried interest virtual assets will be designated as qualifying transactions for tax concessions. This initiative aims to draw a greater number of significant international fintech firms to establish operations in Hong Kong, recognizing their potential contribution.

    Bybit enhances security measures

    Following a hack resulting in the loss of approximately US$1.4 billion worth of ETH in February, Bybit unveiled a comprehensive security enhancement today, as reported to Cointelegraph.

    This upgrade involves three key pillars. First, Bybit has fortified its security auditing processes, both internally and externally, by implementing 50 new security measures.

    Second, the company has strengthened its cold wallet protocols. This includes instituting a revised operational safety procedure that mandates continuous supervision by security experts, integrating multiparty computation for enhanced protection, and consolidating hardware security modules.

    Lastly, Bybit has achieved ISO/IEC 27001 certification for information security risk management. In addition, all internal and customer communications, as well as data storage, are now fully encrypted.

    Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

    Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

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    Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

    Use of low-cost e-commerce giants Temu and Shein has slowed significantly in the key U.S. market amid President Donald Trump’s tariffs on Chinese imports and the closure of the de minimis loophole, new data shows.

    Temu’s U.S. daily active users (DAUs) dropped 52% in May versus March, before Trump’s tariffs were announced, while those at rival Shein were down 25%, according to data shared with CNBC by market intelligence firm Sensor Tower.

    DAUs is a measure of the number of people who visit or interact with a platform every 24 hours. Monthly active users (MAUs), a measure of user engagement over a 30-day period, was also down at Temu (30%) and Shein (12%) in May versus March.

    The declines were also reflected in both platforms’ Apple App Store rankings. Temu averaged a rank of 132 in May 2025, down from an average top 3 ranking a year ago, while Shein averaged a rank of 60 last month versus a top 10 ranking the year prior, the data showed.

    Neither Temu nor Shein immediately responded to CNBC’s request for comment.

    The user drop off comes as both Temu and Shein have pulled back on U.S. advertising spend over recent months since the Trump administration’s tariff announcements.

    Trump in April announced sweeping tariffs on Chinese imports, including the end of the “de minimis” tariff exemption on May 2, which allowed companies to ship low-cost goods worth less than $800 to the U.S. tariff-free.

    In May, Temu’s U.S. ad spend fell 95% year-on-year while Shein’s was down 70%.

    “Temu and Shein’s decline in US ad spend was also noticeable in April, as spend decreased by 40% and 65% YoY, respectively,” Seema Shah, vice president of research and insights at Sensor Tower, said in emailed comments to CNBC.

    Both Temu and Shein also altered their logistics models in the wake of tariffs, shifting away from a drop shipping model, which allowed them to send items directly from Chinese suppliers to U.S. consumers, and instead, particularly in Temu’s case, building up a network of U.S. warehouses.

    Rui Ma, founder and analyst at Tech Buzz China, said such moves were also likely to have impacted the companies’ ad spend strategy and customer acquisition patterns.

    “All these additional costs and regulatory hurdles are clearly hurting Chinese platforms’ U.S. growth prospects,” she wrote in emailed comments.

    Tech Buzz China research from March showed that a 50% tariff would be the point at which Temu would lose most of its price advantages and find it difficult to operate. The tariff on former de minimis imports currently stands at 54%, having been lowered from 120% amid a 90-day tariff truce between the U.S. and China.

    Last week, Temu’s parent company PDD Holdings reported first-quarter earnings below estimates and pointed to tariffs as a significant pressure on sellers.

    Temu’s popularity has nevertheless picked up outside the U.S., with non-U.S. users rising to account for 90% of the platform’s 405 million global MAUs in the second quarter, according to HSBC.

    Writing in a note last week, HSBC analysts said that was “supported by growth in Europe, Latin America, and South America.” They added that the swiftest of that growth occurred in “less affluent markets.”

    “Many (Chinese platforms) are now actively redirecting their efforts toward other markets such as Europe,” Ma said.

    This post appeared first on NBC NEWS

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    One in three Australian men say they have committed intimate partner violence, study reveals

    More than one in three men in Australia reported using violence with an intimate partner in a first of its kind study which shows gender-based abuse is rising, despite years of national attention on the issue.

    The research was part of a longitudinal study called Ten to Men by Australia’s Institute of Family Studies, which began in 2013 and now involves around 24,000 boys and men. Intimate partner violence is defined as emotional, physical and sexual abuse.

    The study found that the number of men using violence with their partners has risen over the past decade. Last time the survey was conducted in 2013-2014, roughly 1 in 4 (24%) men had committed intimate partner violence. That figure rose to 1 in 3 (35%).

    That equates to about 120,000 men using intimate partner violence for the first time each year, pointing to a worrying trend in a country which has long grappled with how to combat gender-based violence.

    In 2022, the Australian government launched its 10-year National Plan to End Violence against Women and Children with a majority priority of advancing gender equality.

    But since January last year, 100 women have been killed in Australia, according to Counting Dead Women. Recent protests have called for the government to do much more to end gender-based violence.

    “The fact that one in three men in the study reported using intimate partner violence should shake every Australian,” said Tarang Chawla, a violence against women advocate and co-founder of Not One More Niki.

    Chawla’s siter, Nikita, was killed by her ex-partner in 2015.

    “She was one of the women these numbers speak to,” Chawla said. “We’ve known this is a crisis, but now we have the data to back what victim-survivors, families and advocates have been saying for years: this is widespread, and it’s preventable.”

    Study shows father figures matter

    Emotional abuse was the most common form of intimate partner violence reported in the Ten to Men study, with 32% of men reporting they had made an intimate partner “feel frightened or anxious,” up from 21% in 2013-2014.

    And around 9% of the men reported they had “hit, slapped, kicked or otherwise physically hurt” an intimate partner.

    Men with moderate or severe depressive symptoms were 62% times more likely to use intimate partner violence by 2022 compared to those who had not had these symptoms, while men with suicidal thoughts, plans or attempts were 47% times as likely, the study found.

    The findings of the Ten to Men study not only underscore the extent of the problem – they also offer key lessons for policymakers looking to tackle the issue, said Sean Martin, a clinical epidemiologist and program lead for the study.

    While much of the existing research in Australia on intimate partner violence has rightly focused on survivors and their stories, Martin said, this study takes a new approach by studying perpetrators to better understand how to prevent violence.

    It’s the first Australian study to examine how affection in father-son relationships during childhood relate to later use of intimate partner violence.

    The study found men with higher levels of social support in 2013-2014 were 26% less likely to start using intimate partner violence by 2022, compared to men who had less support.

    Men with strong father-son relationships were also less likely to become violent. Men who strongly agreed that they had received affection from a father or father figure during childhood were 48% less likely to use intimate partner violence compared to men who strongly disagreed.

    These findings lend strong support for initiatives to support men’s mental health in Australia, as well as community supports and programs for young dads, Martin said.

    Susan Heward-Belle, a professor at the University of Sydney, said the study shows the importance of fathers modeling respect for women, emotional intelligence, empathy and compassion to their children.

    “For a very long time, a lot of that emotional, social, nurturance-type work has been seen as women’s responsibilities within families.”

    Heward-Belle, who was not involved in the Ten to Men study, said it is crucial to explore further how feelings of entitlement and anger can develop.

    “We also know that there are some men who perpetrate domestic and family violence who arguably have had good relationships with both parents.”

    This post appeared first on cnn.com

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    Bodies of two Israeli-American hostages recovered from Gaza in joint military operation

    The bodies of two Israeli-American hostages abducted by Hamas on October 7 were recovered from southern Gaza during a military operation, according to a statement from Israeli military and the Shin Bet security agency.

    Judy Weinstein-Haggai, age 70, and Gadi Haggai, age 72, were killed near their home in Kibbutz Nir Oz during the Hamas attack on southern Israel in 2023.

    “Together with all the citizens of Israel, my wife and I extend our deepest condolences to the dear families,” Prime Minister Benjamin Netanyahu said in a statement.

    The prime minister thanked the soldiers and commanders involved in the operation and vowed to return all remaining hostages held in Gaza.

    “We will not rest and we will not be silent until all our hostages — both the living and the fallen — are brought home,” he said.

    A spokesperson for Kibbutz Nir Oz said the bodies of the two hostages had been returned to Israel overnight and would be laid to rest.

    The couple had four children and seven grandchildren.

    In a statement the Kibbutz remembered Gadi as “a sharp-minded man, a gifted wind instrument player since the age of three, deeply connected to the land, a chef and advocate of healthy vegan nutrition and sports.” and Judy as “a poet, entrepreneur, creative spirit, and devoted advocate for peace and coexistence.”

    A statement from the family, provided by the Nir Oz spokesperson expressed gratitude for the return of their missing loved ones.

    “We are grateful for the closure we have been granted and for the return of our loved ones for burial — they went out for a walk on that Black Saturday morning and never came back. In this emotional moment, we want to thank the IDF and security forces who carried out this complex rescue operation and have been fighting for us for over a year and a half, and to everyone who supported, struggled, prayed, and fought for us and for all the people of Israel,” it said.

    The family also thanked the US administration, the Israeli government, and the FBI for their “tireless work and ongoing support.”

    This is a developing story and will be updated.

    This post appeared first on cnn.com

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    New Zealand Parliament votes for record suspensions of 3 lawmakers who performed Māori haka protest

    New Zealand legislators voted Thursday to enact record suspensions from Parliament for three lawmakers who performed a Māori haka to protest a proposed law.

    Hana-Rāwhiti Maipi-Clarke received a seven-day ban and the leaders of her political party, Debbie Ngarewa-Packer and Rawiri Waititi, were barred for 21 days. Three days had been the longest ban for a lawmaker from New Zealand’s Parliament before.

    The lawmakers from Te Pāti Māori, the Māori Party, performed the haka, a chanting dance of challenge, last November to oppose a widely unpopular bill, now defeated, that they said would reverse Indigenous rights.

    But the protest drew global headlines and provoked months of fraught debate among lawmakers about what the consequences for the lawmakers’ actions should be and whether New Zealand’s Parliament welcomed or valued Māori culture — or felt threatened by it.

    A committee of the lawmakers’ peers in April recommended the lengthy punishments in a report that said the lawmakers were not being punished for the haka itself, but for striding across the floor of the debating chamber towards their opponents while they did it. Maipi-Clarke Thursday rejected that, citing other instances where legislators have left their seats and approached their opponents without sanction.

    It was expected that the suspensions would be approved, because government parties have more seats in Parliament than the opposition and had the necessary votes to affirm them. But the punishment was so severe that Parliament Speaker Gerry Brownlee in April ordered a free-ranging debate among lawmakers and urged them to attempt to reach a consensus on what repercussions were appropriate.

    No such accord was reached Thursday. During hours of at times emotional speeches, government lawmakers rejected opposition proposals for lighter sanctions.

    There were suggestions that opposition lawmakers might extend the debate for days or even longer through filibuster-style speeches, but with the outcome already certain and no one’s mind changed, all lawmakers agreed that the debate should end.

    This post appeared first on cnn.com

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