At least 21 people were killed and 175 wounded in Rafah, Gaza, during an aid distribution event organized by the Israeli-backed Gaza Humanitarian Foundation, according to a Red Cross-run hospital. Eyewitnesses reported that gunfire from Israeli forces opened fire on crowds approaching the aid site, with claims of casualties including women. The incident has drawn criticism over the controversial aid distribution system, which UN agencies and major aid groups argue undermines humanitarian principles, while the foundation and Israeli military deny responsibility for the violence.
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US semiconductor maker Wolfspeed to file for bankruptcy
Wolfspeed, a North Carolina semiconductor manufacturer for electric vehicles, has reached a bankruptcy agreement to reduce its $6.5 billion debt by over two-thirds, effectively wiping out existing shareholders. The company plans to formally file for bankruptcy soon and aims to emerge by the end of 2025, while navigating challenges from rising interest rates and changing government policies. Need More Context? 🔎
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