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The family of late neurology professor Jane Wu has filed a civil complaint against a US university, saying the university’s actions became “a decisive factor in her decision to end her life”.In a civil complaint filed last week in Cook County Circuit Court, Wu’s family – acting through her legal estate – accused Northwestern University of discrimination and isolation.Wu took her own life in July 2024 after years of China-related investigations in the US.According to the filing, the university partially shut down Wu’s laboratory, dismantled her research team and reassigned her grants from the National Institutes of Health (NIH) to…
The euro rose in European trade on Tuesday, on track for the ninth daily profit in a row against the US dollar, and trading above $1.18 for the first time since 2021. It comes amid concerns about the Federal Reserve’s independence and US financial stability after new attacks by Trump against Powell. Recently, the odds of a European Central Bank’s interest rate cut in July tanked, with investors now awaiting eurozone inflation data later today. The Price The EUR/USD price rose 0.2% today to $1.1807, the highest since September 2021, with a session-low at $1.1774. …
Stay informed with free updatesSimply sign up to the Global Economy myFT Digest — delivered directly to your inbox.Jay Powell said a July interest rate cut was not “off the table” for the US Federal Reserve, in an apparent softening of his position that the central bank should wait until the autumn to start lowering borrowing costs. The Fed chair, who has come under mounting pressure from President Donald Trump to slash rates, had signalled in recent weeks that any reduction before September was unlikely. But asked on Tuesday whether a cut this month was out of the question, Powell responded: “I…
The US dollar fell on Tuesday against a basket of major rivals amid mounting concerns about the US fiscal situation following Trump’s big tax bill, and with uncertainty about the trade agreements. Investors are now betting on a faster pace of Fed rate cuts this year, while waiting for crucial US data this week, including the payrolls report on Friday. That led to a dollar selloff wave, which hit 10-year lows against the Swiss franc at 0.790, with a 0.64% drop against the yen at 143.08, with the yen closing the first half of the year with a…
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldEuropean capitals have hardened their position in trade talks with Donald Trump, insisting the US drops its tariffs on the EU immediately as part of any framework deal before the looming deadline on July 9. Trade commissioner Maroš Šefčovič has been instructed to take a tougher line on a trip to Washington this week as Brussels tries to remove or at least substantially cut Trump’s levies in the long term.Washington has indicated to Brussels that the most likely first-stage agreement…
The US defence industrial base remains dependent on Chinese suppliers despite efforts to decouple – and that raises concerns over war readiness, according to a report by data analytics firm Govini.Chinese firms still made up 9.3 per cent of the primary contractors, or Tier 1 suppliers, involved in major US defence programmes across nine critical sectors in 2024, Govini said in its annual National Security Scorecard.“The United States is not prepared for the war that we may have to enter if China said, ‘today is the day’,” said Tara Dougherty, chief executive of the Washington-based defence acquisition information firm.Its researchers…
Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing.1. Trump’s Golden Dome: will the numbers add up to deter China in the Indo-Pacific?The planned defence system could make it harder for the PLA to strike US bases like those in Guam and Okinawa, or warships trying to defend Taiwan.2. Beijing sanctions South China Sea legal claim architect Francis TolentinoChina has sanctioned the former Senate majority leader of the Philippines Francis Tolentino, a key ally of the Southeast Asian country’s President Ferdinand Marcos Jnr on…
My top 10 things to watch Tuesday, July 1 1. Amazon’s Project Kuiper is using every rocket available to get rolling. AI-powered Alexa+ could help power personal robots in our homes. Those are just a couple takeaways from my interview last night with CEO Andy Jassy. We also touched on Club name’s rural expansion, chip ambitions and more. 2. Tesla shares slid more than 6% this morning after President Donald Trump said the Department of Government Efficiency should look at cutting subsidies for Elon Musk’s companies. “Elon may get more subsidy than any human being in history,” Trump wrote on…
This is an on-site version of the White House Watch newsletter. You can read the previous edition here. Sign up for free here to get it on Tuesdays and Thursdays. Email us at whitehousewatch@ft.comWelcome to White House Watch. I’m your host for today. We’ll be off on Thursday but back in your inbox next week. On today’s agenda: A ‘big, beautiful’ update The latest threat to Harvard Another looming deadline Donald Trump’s top legislative priority, passing his flagship tax and spending bill, is inching closer to reality — but some significant obstacles remain. Here’s the state of play at 9am in Washington: After…
Packages ride on a conveyor belt during Cyber Monday at an Amazon fulfillment center on December 2, 2024 in Orlando, Florida.Miguel J. Rodriguez Carrillo | Getty ImagesThe e-commerce sector is experiencing its most disruptive period in more than a decade as a result of President Trump’s trade war and tariffs policy, according to a new survey from Alix Partners. It finds steep declines in online shopping activity, and shipping and return policies being adjusted to cut costs for companies.Online purchases for home delivery experienced double-digit percentage, year-over-year declines across major categories, including office supplies, down by 13 percentage points; sporting…