Citadel CEO Ken Griffin warned against President-elect Donald Trump’s proposed steep tariffs, citing concerns about crony capitalism. Griffin expressed worries that short-term benefits for domestic companies could lead to long-term harm to corporate America and the economy. Trump’s protectionist trade policy could result in increased production costs, higher consumer prices, and a rise in special interest groups lobbying for higher tariffs, according to Griffin.
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The US House of Representatives has banned staff from using WhatsApp due to privacy concerns, citing risks related to data protection and transparency. Meta, parent company of WhatsApp, disputed the claims, emphasizing the platform's end-to-end encryption and security, while also facing legal scrutiny from the FTC over its market dominance. Need More Context? 🔎
Read moreThe Supreme Court lifted a lower court's order that required the Trump administration to allow migrants to contest deportations to third countries based on fears of torture or persecution, enabling the administration to resume such deportations. Dissenting justices criticized the ruling as undermining due process, asserting that it permits unlawful deportations without notice or an opportunity for migrants to defend themselves. Need More Context? 🔎
Read moreKeir Starmer's Defence Spending Commitment Prime Minister Keir Starmer is set to announce a significant increase in UK defence spending to 5% of GDP by 2035 during the NATO summit in the Netherlands, with 3.5% allocated for core defence. This follows a prior promise to spend 2.5% of GDP starting in 2027, amid rising global security concerns, particularly regarding Iran and Ukraine. Need More Context? 🔎
Read morePrime Minister Mark Carney expressed caution regarding the potential for a U.S.-Canada economic and security pact by July 21, emphasizing that Canada would only accept a favorable deal amidst ongoing tariff discussions. He also highlighted Canada's strategy to diversify trade with reliable partners, following a new security partnership with the EU, while critiquing the simplistic focus on tariffs in trade negotiations. Need More Context? 🔎
Read moreIran's Revolutionary Guard Corps (IRGC) launched a missile attack on the Al Udeid Air Base in Qatar, responding to U.S. strikes on its nuclear sites, while U.S. President Donald Trump announced a ceasefire between Iran and Israel. The conflict has resulted in significant casualties, with at least 430 Iranians and 25 Israelis killed in ongoing hostilities. Explain It To Me Like I'm 5: Iran shot missiles at a U.S. military base because they were angry...
Read moreAbout the AuthorTOI World DeskTOI World Desk consists of a dedicated team of experienced journalists and writers committed to delivering timely, accurate news and diverse perspectives on global events. They aim to provide readers with a nuanced understanding of international affairs, exploring the interconnected stories that shape our world.Read More Need More Context? 🔎
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