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Day: August 10, 2025
Liu Jianchao, the envoy in charge of managing ties with foreign political parties, was reportedly detained in late July
Liu Jianchao, a senior Chinese diplomat widely seen as a potential future foreign minister, has been detained by authorities for questioning, the Wall Street Journal has reported.
Liu was taken away after returning to Beijing in late July from an overseas work trip, it reported on Sunday, citing people familiar with the matter.
Concerns Over Data Center Investment in the U.K. Due to Power Grid Challenges
Ministers have been informed that “high wholesale electricity prices, long lead times for grid connections, and energy pricing are challenges to data center investment across the U.K.,” reports 24brussels. This assessment emerged during a second meeting in June, shortly after the government announced new measures aimed at expediting grid connections under its Industrial Strategy.
A spokesperson for the Department for Energy Security and Net Zero emphasized that the U.K.’s goal of achieving clean power by 2030 would enable the growth of energy-intensive data centers. The plan includes collaboration with the regulator Ofgem and network companies to “reform the outdated connections process and speed up delivery of new infrastructure.”
Participants in the June meeting highlighted that the demand generated by artificial intelligence (AI) will likely depend heavily on the reprioritization of existing grid connections until 2030. This suggests that the anticipated reforms and investment might not significantly mitigate existing constraints before that timeline.
Temporary Solutions Proposed
As nations scramble to adapt their electricity grids to meet the rising energy demands of AI, the strategic placement of data centers near both new and existing gas facilities has been proposed as a quick solution for energy access.
According to the meeting’s readout, “temporary on-site generation, including natural gas fuel cells, was raised as an interim measure to meet power needs during grid connection delays,” although it underscored the “limitations of batteries for backup.”
The Department for Energy Security and Net Zero noted that the government is exploring various options but has not indicated a plan to authorize on-site gas cells. A spokesperson, however, did not completely dismiss the possibility on record.
Vatican Faces New Financial Allegations Amid Restored Confidence
Recent allegations of financial misconduct threaten to tarnish the Vatican’s efforts to recover from past scandals. Former chief auditor, Libero Milone, claims to have found evidence suggesting that financial transactions were manipulated to bypass established restrictions, raising concerns about the integrity of the Vatican’s recent fiscal improvements, reports 24brussels.
Milone did not specify how these alleged manipulations occurred, but his statements emerge as the Vatican attempts to rebound from a notable budget deficit exacerbated by a decline in donations during Pope Francis’s tenure. The election of Pope Leo was partly motivated by the cardinal’s desire for a leader capable of restoring trust among influential donors, particularly from the United States.
The Vatican’s recent financial reports had initially boosted confidence, with the Institute of the Works of Religion (IOR) announcing substantial earnings earlier this year. Following suit, the Administration of the Patrimony of the Apostolic See (APSA) revealed a profit of €62.2 million for 2024, compared to €45.9 million in the previous year. However, Milone’s accusations could undermine this recent progress and revive memories of historical financial scandals.
Past scandals include investigations into the IOR’s alleged complicity in laundering money for mafia-related activities to support anti-communist movements in Latin America and Eastern Europe during the late 20th century. The tragic death of banker Roberto Calvi, known as “God’s banker,” in 1982 has loomed large over the Vatican’s financial history. Found hanging under London’s Blackfriars bridge, Calvi was rumored to have collaborated with a network of influential figures, including far-right politicians and U.S. intelligence officials. While the Vatican has never admitted legal wrongdoing, it has acknowledged “moral involvement” in the collapse of Calvi’s bank, Banco Ambrosiano.
The Vatican’s recent past has also been marred by the conviction of Cardinal Giovanni Angelo Becciu, who was found guilty of misappropriating funds intended for charitable activities in his native Sardinia and was implicated in a disastrous London real estate venture that ultimately cost the Vatican over €100 million in losses.
As allegations surface, the Vatican faces a critical juncture, balancing efforts to fortify investor confidence while navigating the shadows of its financial history. The integrity of its financial systems and the credibility of its leadership are under significant scrutiny.
Israeli Prime Minister Benjamin Netanyahu has defended his planned military takeover of Gaza City in the face of growing international condemnation and anger, with United Nations officials warning Sunday the move would lead to “another calamity” in the embattled, starving enclave.
US Tech Giants Collaborate with Government on AI Chip Revenue in China
Nvidia and AMD have agreed to share revenue with the US government from their AI chip sales in China. This agreement marks a significant shift in the landscape of AI technology amid rising regulatory scrutiny. Nvidia will contribute 15 percent of its revenues from H20 chip sales, while AMD will do the same for its MI308 chip sales, reports 24brussels.
The arrangement comes as both companies navigate the complexities of the evolving AI market, which has seen intense competition and regulatory challenges. The Trump administration has not disclosed how it plans to utilize these funds, leaving questions about the broader implications for US-China tech relations.
Industry insiders suggest that this move could be a strategic effort to maintain leverage in the AI arms race. As global demand for AI technologies surges, the stakes are high, prompting companies to align their operations with governmental policies and public interest.
Official statements confirm the significance of this agreement, emphasizing its potential impact on future sales strategies in the region. As these tech giants expand their presence in China, the collaboration with the US government may highlight a growing trend of corporate accountability and compliance with national interests.
As the situation develops, the implications for both US and Chinese technology sectors remain to be fully understood. Observers will be watching closely to see how this cooperation influences market dynamics and regulatory frameworks in the burgeoning field of AI.