Good morning. As we speak we’re protecting:
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OpenAI’s new search device
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China’s retirement controversy
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Why kids’s luxurious is booming in South Korea
However we start with information on China and Russia’s deepening army co-operation.
The 2 nations have flown a joint strategic bomber patrol close to Alaska for the primary time, highlighting the rising scale and functionality of a partnership that has raised concern among the many US and its allies.
US and Canadian fighter jets intercepted two Russian and two Chinese language bombers late on Wednesday, in response to the North American Aerospace Protection Command (Norad).
Norad stated the 4 plane didn’t enter US or Canadian airspace however operated within the Alaskan air defence identification zone and didn’t current a risk.
“It’s not uncommon for Russian bombers flying via the [Alaska] ADIZ to be intercepted,” stated Alexander Korolev, an professional on Russian-Chinese language army co-operation on the College of New South Wales in Sydney.
However the newest patrol was “notable for being the primary intercept of Chinese language army plane close to Alaska”, Korolev stated. Read more on the Chinese-Russian manoeuvre.
Right here’s what I’m maintaining tabs on immediately and over the weekend:
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Financial coverage: Singapore’s central financial institution meets and is predicted to keep its policy unchanged. (Bloomberg)
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Trump-Netanyahu assembly: The Republican presidential nominee meets the Israeli prime minister at his Mar-a-Lago Membership in Florida, a day after meetings with President Joe Biden and vice-president Kamala Harris.
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Paris Olympics: The opening ceremony of the 2024 Video games can be held immediately.
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Venezuela election: Opinion polls predict opposition candidate Edmundo González will win Sunday’s presidential vote in a landslide. However the huge query is whether authoritarian leader Nicolás Maduro would accept defeat.
How nicely did you retain up with the information this week? Take our quiz.
5 extra high tales
1. OpenAI is launching an internet search device in a direct problem to Google, opening up a brand new entrance within the race to commercialise advances in generative synthetic intelligence. Here’s how “SearchGPT” will work.
2. Bangladesh’s clothes business is reeling after authorities imposed a curfew and communications blackout as a part of a deadly crackdown on student’s protesting a job quota system. The restrictions have compelled factories to close and delayed shipments from the world’s second-largest clothes exporter.
3. Rupert Murdoch has moved at hand management of his household belief to his eldest son, Lachlan, sparking a bitter legal war between his children. The proposed adjustments to the belief are designed to cement a politically conservative route for Fox and Information Corp information retailers sooner or later, folks accustomed to the matter stated.
4. The US economic system grew at a 2.8 per cent annualised fee within the second quarter, surpassing economists’ expectation of two per cent GDP progress. Yesterday’s information confirmed continued client resilience because the Federal Reserve considers cutting interest rates within the coming months.
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Wall Road steadies after tech rout: The Nasdaq Composite rebounded following the higher than anticipated US progress figures, though chip shares in Europe and Asia suffered heavy declines.
5. Plunging earnings at Stellantis and Nissan have deepened fears that the worldwide automobile business is going through a chronic downturn. Shares within the firms tumbled yesterday after the carmakers blamed more and more cut-throat competitors within the US and slowing sales growth of electric vehicles.
Information in-depth
An intergenerational dispute has erupted on Chinese language social media following a flagship Communist get together gathering this month, the place leaders known as for the retirement age to be raised. China’s demographic decline threatens to go away it with too few employees, however the on-line anger is a reminder to Beijing that that is one space the place even they should tread fastidiously.
We’re additionally studying . . .
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Macau’s Portuguese expats: Because the on line casino metropolis approaches the twenty fifth anniversary of its handover to China, its Lusophone inhabitants faces a new set of challenges, writes William Langley.
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Kamala’s ‘memeability’: The presumptive Democratic presidential candidate has resonated with Gen Zers due to an explosion of online content.
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‘Heatflation’: Companies are counting the cost of mitigating the consequences of local weather change on their workforce, and never all of them will have the ability to afford it, writes Leo Lewis.
Chart of the day
Is the yen behind the tech sell-off? The hyperlink between the Japanese foreign money and Silicon Valley shares seems more than a coincidence, writes Katie Martin.
Take a break from the information
Are you higher dressed than a Korean preschooler? The reply might be not. Kids’s luxurious is booming in South Korea, the nation with the bottom start fee on this planet, as parents splurge on Moncler jackets and Burberry shirts for his or her smaller households.
Extra contributions from Tee Zhuo and Harvey Nriapia