Markets
Headlines and Quotations
WSJ
Fed Warns of Rising Economic Risks as It Leaves Rates Steady
- Powell said officials felt like the costs of waiting to learn more about the economy were “fairly low.” He used the term “wait and see” 11 times on Wednesday.
India and Pakistan Face Off but Seek to Contain Fallout
- The U.S. has sought to persuade both sides to defuse tensions. But while U.S.-India ties have strengthened in recent years, Washington’s influence over Islamabad has waned over the past decade as China has become Pakistan’s closest ally.
Reuters
Trump administration to rescind and replace Biden-era global AI chip export curbs
The Biden rule divided the world into three tiers: 17 countries and Taiwan were in the first tier, which could receive unlimited chips. Some 120 other countries were in the second tier, which was subject to caps on the number of chips the countries could receive. In the third tier, countries of concern including China, Russia, Iran and North Korea were blocked from the chips.
But Trump administration officials are weighing discarding the tiered approach to access in the rule and replacing it with a global licensing regime with government-to-government agreements, sources told Reuters last week.
Microsoft wins appeal in FTC challenge to $69 billion Activision Blizzard deal
- The San Francisco-based 9th U.S. Circuit Court of Appeals upheld a lower judge’s order that said the FTC was not entitled to a preliminary injunction blocking the deal, which closed in 2023.
US lawmakers criticise UK backdoor order to Apple, warn of cybercriminal risks
.S. House Judiciary Chair Jim Jordan and Foreign Affairs Chair Brian Mast warned Britain on Wednesday that its order to Apple (NASDAQ:AAPL) to create a backdoor to its encrypted user data could be exploited by cybercriminals and authoritarian regimes.
Apple, which has said it would never build a so-called back door into its encrypted services or devices, has challenged the order at the UK’s Investigatory Powers Tribunal (IPT).
Yahoo Finance
Google stock sinks on report Apple plans to integrate AI search into Safari browser
- Google (GOOG, GOOGL) stock dropped more than 7.5% on Wednesday after Apple’s senior vice president of services, Eddy Cue, revealed that Apple (AAPL) is exploring adding AI search engines such as Perplexity to its default Safari web browser.
- During his testimony, Cue said Apple saw a drop in searches in Safari for the first time last month, attributing the move to customers increasingly opting for AI-based search options.
Trump tariffs live updates: Trump declines to soften tariffs with US-China trade talks set to begin
- President Trump said Wednesday he would not pull back tariffs on Chinese goods in order to get China to the negotiating table, countering speculation that he might lower hefty 145% tariffs to break the ice.
CNBC
Trump’s ambassador to China sworn in ahead of high-stakes talks in Switzerland
Arm shares drop on weak forecast
Trump offers to ‘help’ relieve conflict between India and Pakistan
- Both India and Pakistan claim that all of Kashmir is rightfully part of their countries.
