AI Summary
- Peter Schiff warns of an impending economic crisis in the U.S., emphasizing issues like unsustainable debt, hidden recessions, and misguided trade policies that could impact voters' economic experiences.
- The U.S. government reports a record deficit of $1.1 trillion in just the first five months of 2025, raising concerns about fiscal sustainability as spending outpaces tax revenues significantly.
- Over 200,000 unused government credit cards were deactivated as part of an audit initiative led by the Department of Government Efficiency (DOGE), which found inefficiencies in federal spending.
- The anticipated boom in artificial intelligence spending has prompted officials to express concerns over the U.S. electricity grid's capacity to meet the rising power demands of data centers.
- iRobot's shares plummeted after the company issued a dire "going concern" warning, revealing significant financial losses and a revenue shortfall that raised doubts about its ability to continue operations.
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South China Morning Post
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Ukraine talks: Trump says US negotiators headed to Russia ‘right now’
scmp.com
an hour ago
by Agence France-Presse
The US president wouldn’t say when he would next speak to Putin, but said there had been ‘positive messages’ from Moscow on a possible truce.
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Trump metal tariffs draw swift retaliation from Canada, hitting US$20 billion in US goods
scmp.com
3 hours ago
by Reuters
US products affected by Canada’s counter-tariffs include computers, sports equipment and cast iron products.
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Dog shoots US man in bed after ‘paw stuck in trigger’
scmp.com
5 hours ago
by Agence France-Presse
While gun violence is prolific in the US, cases of animals shooting humans are rare.
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China summons Walmart bosses, AI vs human fighter pilots: SCMP daily highlights
scmp.com
7 hours ago
by SCMP
From Chinese officials meeting Walmart representatives to AI’s ability in aerial dogfights, here’s a round-up from today’s China coverage.
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As Europe takes the lead on its own defence, it must agree on how
scmp.com
7 hours ago
by Marco Vicenzino
Europe needs greater collective leadership, pragmatism and rapid decision-making to remain a relevant force in the 21st century.
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Hesai braces for 10-fold profit jump as it eyes Europe’s smart EVs for self-driving lidar
scmp.com
9 hours ago
by Daniel Ren
Hesai’s 2025 profit may jump to between 200 million yuan and 350 million yuan, from 14 million yuan last year, said its chief financial office…
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AI is no longer a mere investment, but a matter of sovereignty
scmp.com
11 hours ago
by Jeffrey Wu
As the US-China race for primacy in artificial intelligence heats up, nations must boost their capabilities or fall behind in the global divid…
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In wartime Ukraine, an all-female King Lear after actors were called to the front lines
scmp.com
12 hours ago
by Associated Press
A regional theatre adapts to the realities of war, with actresses taking male roles as actors are called up to front lines of Russia war.
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Greenland picks party favouring slow independence in election surprise
scmp.com
13 hours ago
by Bloomberg
Greenland independence was the key campaign theme in an election dominated by Donald Trump’s pledge to take control of the island.
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Global EV sales soared in February, as China’s market kept its growth pace with 76% surge
scmp.com
14 hours ago
by Yujie Xue
About three-quarters of the 1.2 million EVs and hybrids sold worldwide in February were delivered in China, according to Rho Motion.
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Russian gains in Kursk threaten vital bargaining chip for Ukraine
scmp.com
14 hours ago
by Agence France-Presse
The Russian army has reported significant territorial gains in the Kursk border area which was seized by Ukraine last August.
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China summons Walmart executives for talks in wake of Trump tariffs
scmp.com
15 hours ago
by Carol Yang
Officials met representatives of the US retailer to discuss its treatment of Chinese suppliers following the imposition of import duties.
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Yemen’s Houthis say ‘any Israeli vessel’ in nearby waterways again a target
scmp.com
15 hours ago
by Associated Press
Renewed threat to shipping ends a period of relative calm that started in January with the Gaza ceasefire.
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Europe’s Trump dilemma: must it de-risk from both the US and China at once?
scmp.com
16 hours ago
by Finbarr Bermingham
Brussels presses on with building buffers against Beijing despite growing calls in Europe to cut ties with Washington.
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Portugal’s government collapses after losing confidence vote
scmp.com
17 hours ago
by Bloomberg
Portugal’s president must now decide whether to dissolve the assembly and call new elections.
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Trump labels Tesla attacks domestic terrorism, threatens protesters with ‘hell’
scmp.com
18 hours ago
by Reuters
US president talks up Tesla at the White House in a show of support for close adviser Elon Musk.
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What can South Korea do about the strategic threats in Trump era?
scmp.com
18 hours ago
by Gagan Hitkari
Developing its own nuclear arms is a political luxury Seoul can’t afford. Instead, it must expand its economic and diplomatic networks.
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Duterte is set to enter ICC detention. Here’s what awaits the Philippine ex-president
scmp.com
19 hours ago
by Agence France-Presse
Housed in a Dutch prison, the International Criminal Court’s detention unit has cooking facilities and cells with computers, but no internet.
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Iran president to Trump: I will not negotiate, ‘do whatever the hell you want’
scmp.com
20 hours ago
by Reuters
The US president says he has sent a letter urging Iran to engage in new talks on a nuclear deal.
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US House passes Trump-backed bill to avert shutdown, but Senate hurdle remains
scmp.com
21 hours ago
by Reuters
Critics say the spending bill hands a ‘blank cheque’ to the US president and his billionaire adviser Elon Musk.
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Put US tariffs on all chips made in China, says chair of high-profile House committee
scmp.com
a day ago
by Bochen Han
US trade representative also urged to liaise with American allies like Japan and South Korea, even as Donald Trump threatens levies on them.
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Trump is diving into crypto headfirst. Has China missed the boat?
scmp.com
a day ago
by Ralph Jennings
China has kept unregulated digital currencies at arm’s length, but the US is going all-in on crypto. Will this big bet give the US dollar new …
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USAID cut could have a silver lining for Southeast Asian ecosystems
scmp.com
a day ago
by Mohammad Yunus
While reduced aid harms conservation efforts, the region’s stakeholders have a chance to consider more effective self-sufficient approaches.
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Trump’s tariffs on Canadian steel draw fire from US House Democrat
scmp.com
a day ago
by Robert Delaney
Representative Joe Courtney blasts the levies as a threat to ‘whether or not we can build steel ships’ for the US Navy.
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US to resume military help to Ukraine, Kyiv backs ceasefire proposal
scmp.com
a day ago
by Igor Patrick
Ball in Moscow’s court as joint US-Ukraine statement calls for ‘an immediate, interim 30-day ceasefire, which can be extended by mutual agreem…
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UK police arrest cargo ship captain over North Sea crash with oil tanker
scmp.com
a day ago
by Associated Press
Both vessels were set ablaze and one sailor is presumed dead in the collision, which has sparked fears of major environmental damage.
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UK crossbow killer gets life in prison for slaying 3 women, Andrew Tate cited as influence
scmp.com
a day ago
by Associated Press
Prosecutors say Kyle Clifford’s attack on his ex-girlfriend and her family was fuelled by influencer Andrew Tate’s ‘violent misogyny’.
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Russian goods seizures cause havoc on China-Europe rail link: ‘big impact’
scmp.com
a day ago
by Ji Siqi
Freight companies ‘dare not’ use the railway after Russia tightened sanctions and impounded huge volumes of Europe-bound cargo.
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Trump halts doubling of tariffs on Canada metals, Ontario pauses electricity hike
scmp.com
a day ago
by Associated Press
The originally planned 25 per cent duties on steel and aluminium products on all US trading partners will still go ahead.
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China’s answer to ‘drill, baby, drill’, top scientist dies: SCMP daily highlights
scmp.com
a day ago
by SCMP
From Zhao Leji’s absence at the ‘two sessions’ closing to China’s energy security, here’s a round-up from today’s China coverage.
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How the Global South can rise above the fray as the West fractures
scmp.com
a day ago
by Peter T. C. Chang
Countries must seize this moment to promote an open, inclusive world order grounded in common interests and mutual respect.
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US judge orders Musk’s Doge to release records: ‘unusual secrecy’
scmp.com
a day ago
by Agence France-Presse
Last week, Trump responded to growing criticism over unprecedented cuts by Doge, saying they should be carefully targeted.
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16 dead, dozens hurt as bus overturns on South Africa highway
scmp.com
a day ago
by Associated Press
The early-morning crash happened on a highway near Johannesburg’s main O.R. Tambo International Airport.
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Trump to buy a Tesla in show of support for Musk
scmp.com
a day ago
by Agence France-Presse
Tesla has lost more than one-third of its market value since mid-December as Musk deepens his association with Trump.
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‘Open source’ model: why France wants to work closely with China on AI
scmp.com
a day ago
by Kandy Wong
Paris aims to cooperate with both Beijing and Washington as it seeks to develop into an ‘AI powerhouse’.
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Ukraine must look beyond the US to chart its own course for peace
scmp.com
a day ago
by Winston Mok
As the US forsakes its role as a trustworthy arbiter in Ukraine, China can help address Europe’s security and development needs.
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US says holding migrants from 27 countries at Guantanamo Bay
scmp.com
2 days ago
by Associated Press
US President Donald Trump has said detention facilities at Guantanamo would be expanded to hold as many as 30,000 people.
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Syria’s government signs breakthrough deal with US-backed SDF
scmp.com
2 days ago
by Associated Press
Deal aims to integrate Kurdish-led SDF-controlled entities into Syrian state institutions.
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3 killed as Ukraine strikes Moscow with biggest drone attack before talks with US
scmp.com
2 days ago
by Reuters
Russia shoots down 337 Ukrainian drones in massive attack as US officials push peace talks.
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Judge rules Atlanta spa shooter’s statements after arrest can be used in death penalty trial
scmp.com
2 days ago
by Associated Press
Prosecutors are seeking the death penalty and a hate crimes sentencing enhancement for 2021 killings.
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US court martial convenes for Pentagon leaker already facing 15 years behind bars
scmp.com
2 days ago
by Associated Press
Jack Teixeira is facing military charges after already being sentenced to prison for leaking classified material.
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Why second Trump administration is going easy on the China-bashing
scmp.com
2 days ago
by Stanley Chao
Lessons from past policies and proximity to business leaders are likely to have shifted the US president’s otherwise bellicose tone.
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Eruption of Guatemala’s Volcano of Fire deemed over after forcing many to flee
scmp.com
2 days ago
by Agence France-Presse
The volcano spewed gas and ash far into the sky on Monday, putting 30,000 people potentially ‘at risk’.
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LA prosecutor will not support resentencing Menendez brothers because they lied
scmp.com
2 days ago
by Associated Press
Menendez brothers’ bid for freedom hits roadblock as Los Angeles district attorney Hochman opposes resentencing.
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Rubio vows to block ‘antagonistic’ language on Russia at G7 meeting
scmp.com
2 days ago
by Agence France-Presse
US wants softer tone on Russia when G7 foreign ministers meet in Quebec from Wednesday.
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Arrest of pro-Palestinian activist sparks outrage, Trump says ‘first of many’
scmp.com
2 days ago
by Agence France-Presse
US authorities have arrested a Palestinian recent graduate who played a leading role in last year’s pro-Gaza protests.
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Zelensky in Saudi Arabia as US voices hope for Ukraine peace talks
scmp.com
2 days ago
by Reuters
Tuesday’s crunch Ukraine-US talks will be the first between the two sides since White House blow-up.
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Canada’s Ontario to charge US customers 25% more for electricity in response to Trump
scmp.com
2 days ago
by Associated Press
Ontario’s premier said if the US escalates the trade war with Canada, he ‘will not hesitate to shut the electricity off completely’.
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Trump administration’s new app encourages immigrants to ‘self deport’
scmp.com
2 days ago
by Reuters
US President Donald Trump has vowed to deport record numbers of migrants in the US illegally.
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US stock market loses US$4 trillion in value as Trump pushes ahead on tariffs
scmp.com
2 days ago
by Reuters
S&P 500 down over 8 per cent from February 19 all-time high, as Tesla loses more than US$125 billion in value in one day.