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India Sends Warship to China’s Doorstep

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India has dispatched a warship on an operational deployment to the South China Sea and across the Indo-Pacific.

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Russian envoy emphasizes cooperation with India aligns with national interests in energy sourcing

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“Our cooperation in line with India’s national interest”: Russian envoy on oil purchase

On October 16, 2025, Russian Ambassador to India Denis Alipov asserted that India’s energy import decisions reflect its “national interests,” framing Moscow’s energy collaboration with New Delhi as compatible with those priorities, reports 24brussels.

In response to questions regarding India’s continued purchases of Russian oil, Alipov noted that such matters are ultimately at the discretion of the Indian government, emphasizing that India prioritizes its national interests in these decisions. His comments followed remarks by U.S. President Donald Trump, who claimed that Prime Minister Narendra Modi had assured him India would cease importing oil from Russia—a statement made during a media interaction in Washington.

Trump characterized Modi’s commitment as a significant step toward enhancing global pressure on Moscow, reaffirming his view of India as a reliable partner. “Yeah, sure. He’s (PM Narendra Modi) a friend of mine. We have a great relationship…I was not happy that India was buying oil. And he assured me today that they will not be buying oil from Russia. That’s a big step,” Trump stated, calling for similar actions from China.

Following these assertions, the Indian Ministry of External Affairs reiterated India’s stance on energy policy, highlighting the importance of its independent approach to energy sourcing. Spokesperson Randhir Jaiswal articulated that India’s oil and gas import policies prioritize the interests of Indian consumers within a volatile energy landscape. He stated, “Our import policies are guided entirely by this objective. Ensuring stable energy prices and secured supplies have been the twin goals of our energy policy.” Jaiswal emphasized the importance of diversifying energy sources to adapt to market conditions, underscoring that discussions for enhanced energy cooperation with the U.S. are ongoing.

India’s position as a significant oil importer necessitates a careful balance between international relations and domestic energy needs, a challenge that continues to evolve amidst geopolitical tensions regarding Russia’s actions and global energy dynamics.


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Thousands in UK open case against Johnson & Johnson over alleged talcum powder cancer link

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High court claim says company knowingly sold product containing asbestos and ‘concealed’ risk to public

Thousands of people are taking legal action against pharmaceutical company Johnson & Johnson, claiming it knowingly sold asbestos-contaminated talcum powder in the UK.

As many as 3,000 people have alleged that either they or a family member developed forms of ovarian cancer or mesothelioma from using Johnson’s Baby Powder, and are seeking damages at the high court in London.

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Three Australians accused of premeditated murder in Bali villa could face the death penalty

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Melbourne man Zivan Radmanovic, 32, was fatally gunned down in a Bali villa in June

Three Australians accused of shooting a Melbourne man in a Bali villa are set to be charged with premeditated murder, an offence punishable by the death sentence.

Melbourne man Zivan Radmanovic, 32, was fatally gunned down in the bathroom of Villa Casa Santisya near Munggu Beach, in Bali’s Badung district in June.

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The AI boom isn’t a bubble — it’s barely begun, Goldman Sachs says

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NYSE trader blowing a bubble with bubble gum
Some investors are on edge over a possible AI-fueled bubble as billions pour into the technology.

  • The AI gold rush has barely begun, and there are trillions on the line, Goldman Sachs says.
  • Today’s AI outlays are small compared with past revolutions like railroads and the internet, wrote analysts.
  • But history shows first movers might not be the biggest winners.

The markets may be fretting about an AI bubble, but Goldman Sachs says the boom is still in its opening act.

That’s because the scale of current investment remains small compared with the potential economic payoff, analysts at the Wall Street giant argue.

“The enormous economic value promised by generative AI justifies the current investment in AI infrastructure and overall levels of AI investment appear sustainable as long as companies expect that investment today will generate outsized returns over the long run,” wrote analysts at Goldman Sachs in a Wednesday note.

The bank’s analysts pointed to two main reasons for their call: AI applications are already delivering productivity gains where they’re deployed, and unlocking those gains requires massive computing power.

Goldman estimates that the long-term value created by AI productivity far exceeds its upfront costs. The firm projects that widespread AI adoption could add $20 trillion to the US economy, with about $8 trillion of that flowing to companies as capital income.

“Generative AI still appears set to deliver a rapid acceleration in task automation that will drive labor cost savings and boost productivity, with our baseline estimates suggesting a 15% gross uplift to economy-wide US labor productivity following full adoption, which we expect will realize over a 10-year period,” the analysts wrote.

AI investment is modest by historical standards

Despite record-breaking spending on chips, servers, and data centers, Goldman says AI investment is modest by the standards of past technology revolutions.

The firm estimates that AI-related investment in the US is under 1% of GDP, compared with the 2% to 5% of GDP reached during earlier technology booms, including the railroad expansion, the electrification wave of the 1920s, and the dot-com era of the late 1990s.

Goldman’s analysts said they still see the macroeconomic justification for AI investment as compelling and are “less concerned about the dollar amount of AI capex.” They noted that roughly $300 billion is being spent annually in 2025 — a scale they view as appropriate given the technology’s long-term potential returns.

The winners may not be today’s biggest spenders

Still, Goldman acknowledges “valid concerns” about whether the companies pouring the most money into AI will ultimately reap the rewards, especially given hardware’s rapid depreciation.

The analysts argue that timing matters less if investors can capture an outsize share of AI’s long-term economic value. But history suggests that being first doesn’t always mean finishing best.

“First movers” could fare poorly in infrastructure buildouts, they wrote, citing railroads and telecommunications as examples. In many cases, later entrants captured better returns by acquiring assets cheaply after an early overbuild.

That dynamic could repeat in the AI era.

“The current AI market structure provides little clarity into whether today’s AI leaders will be long-run AI winners,” they wrote.

“First-mover advantages are stronger when complementary assets (e.g., semiconductors) are scarce and production is vertically integrated—suggesting that today’s leaders may outperform—but weaker in periods of rapid technological change like today,” they added.

Early adopters are also hedging their bets by using multiple AI models instead of sticking to one ecosystem, which could weaken incumbents’ advantages, the analysts said.

They added that it’s difficult to pinpoint when the motivation to keep pouring money into AI will fade, since early productivity gains and steady improvements in model performance are still encouraging investment.

“So while investment should eventually moderate as the AI investment cycle moves beyond the build phase and declining hardware costs dominate, the technological backdrop still looks supportive for continued AI investment,” the analysts wrote.

Goldman’s assessment lands amid an intense debate about whether AI has inflated another tech bubble.

Last week, strategists at Morgan Stanley and Goldman Sachs argued that AI stock valuations aren’t as stretched as critics claim when factoring earnings growth, cash flow, and profit margins.

Read the original article on Business Insider

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British History: As Full of Cruelty, Racism and Hate as Any Other Nation in Europe

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The venerable Frankfurter Allgemeine Zeitung (“FAZ“) has just launched an intriguing intra-European debate in its Culture pages. Under the headline “Britishness Is Over: The British Are No Longer British,” it presented an essay that suggested that Britain has abandoned its good past.

No longer resolute?

At long last, the author argued, the country has finally succumbed to the fascism virus, thus ending its glorious history of resolutely standing up for democracy, respect and human rights.

The argument was presented by Eva Lapido, 51, a German, who did her DPhil in Cambridge and now lives in London writing as a novelist and journalist.

UK ethnonationalist populism on the rise

Now, she says, Britain’s special role or path (“Sonderweg” in German) as a nation of tolerance, parliamentary debate and democracy was ending: “British democracy is almost of ancient heritage. It is widely considered to be fabulously stable and immune to irrational emotions. That is no longer the case.”

As evidence, she cites the demonstration in London organized by Stephen Yaxley-Lennon, a criminal thug, who calls himself Tommy Robinson.

He is the fill-the-streets organizer promoting an all-white England — the rough trade end of the new ethnonationalist populism promoted by Nigel Farage.

What united Göbbels and Robinson

Josef Göbbels’ famous dictum “Wer die Straße erobern kann, kann auch einmal den Staat erobern” (He who conquers the street can conquer the state) thus flickered into life on London’s streets.

110,000 flag-waving supporters marched on Parliament in Westminster, hailing their support of a nostalgic idea of a Britain without mosques or different skin-colored citizens, a country that would no longer have anything to do with the European Union or a European Court of Human Rights.

Or with “woke” ideas about equal rights for women and gays, respect for ecology and the environment.

The Robinson crowd also heard an appeal from Elon Musk to rise up and overthrow the government elected in 2024 and the claim by Eric Zemmour, a French racist and man of the extreme right that a Muslim invasion and occupation was subordinating the white population of France and England.

Oh, good old England

For Ms. Lapido, this hard right-wing mobilization stands in stark contrast to the notion of holding out good old England as a tolerant, liberal polite community of a profoundly democratic people.

Her perspective reminds me a bit of the style of “Dear Doozie,” a book by the exiled Berlin Jewish writer Werner Lansburgh. Written half in German and half in English (published 1978), it explains German thinking and habits to an English girl.

Lansburgh was also one to romanticize England as a haven of quaint customs and habits based on politeness and mutual respect for old traditions. He contrasted those qualities to the rigidities of continental Europe that gave rise to a politics of violence and repression that were unimaginable in liberal, fair-play England.

Sorry, Ms. Lapido

Truth be told, any history that portends that British democracy has always been stable and against emotional, irrational politics is wrong.

The powerful Daily Mail tabloid which has 10 times the readership of FAZ was violently anti-Jewish in the 1930s. This century, the Daily Mail is anti-Muslim and busies itself with publishing hate headlines against Polish migrant workers in the run-up to the populist Brexit plebiscite in 2016.

How geography matters

If anything, rather than somehow having an antidote gene that protected it against fascist leanings, Britain over centuries was saved by its geography.

As Martin Walker, the distinguished former Guardian foreign correspondent who was the paper’s Europe editor notes:

“The UK is an island and so could afford to dispense with large standing armies as long as we had a decent navy. And we were better off than the Dutch since we had the prevailing winds on our side. We were self-supporting in agriculture, on an island built on coal and surrounded by fish. History and geography dealt us a very generous hand.”

To which I would add that, once England had disconnected from France eight centuries ago, it never sought to rule nations in Europe — though England remained hostile to Jews in legislation and literature into the 20th century.

Despotism at home: Just ask the Irish

However, being an island nation did not keep the English state from doing very bad things to its citizens — provided, of course, it was not done in England.

Irish history is larded with massacres of innocent Catholics by Protestant Supremacists upholding English rule over the Irish. In 1649, Oliver Cromwell whose statue stands outside the House of Commons massacred 2,000 Irishmen and women in Drogheda, a city on the East Ireland coast north of Dublin.

British soldiers opened fire at a Gaelic football match in 1921, killing 20 including children to “punish” the Irish nationalists seeking independence from English rule.

Churchill’s transgressions

Lest we forget, Churchill let three million Indians starve to death in the Second World War. He wrote on a cabinet paper “Has Ghandi died yet?”

Unsurprisingly, when Ghandi was once asked by a reporter what he “thought of British civilization?” he replied, “Ah, that would be a nice idea.”

(Coincidentally, on the issue of “Churchill and the Germans,” another German journalist, Dietmar Pieper, has just published a very nuanced and insightful account. It makes for important reading in these autocracy-laden times, although it is currently only available in German).

Slavery

Imperial wealth can be regarded as a material protection layer that guards against fascist feelings, which are often driven by status envy.

And, no doubt, a vast part of Britain’s wealth in the 18th and 19th century was based in large part on enslaving men and women with black or brown skins or treating them as forced labor once slavery was abolished in the British Empire by an Act of Parliament in 1833. In that sense, the fascist impulse was simply “offshored.”

Other European citizens have more rights

True, after slavery was formally abolished, this allowed the development of a more liberal political culture in England than in central and Eastern Europe which Britain enjoyed well into the 20th century.

And yet, French, Dutch and other citizens in Europe enjoyed stronger rights than Britain. After all, British political leaders always rejected a written constitution guaranteeing civic freedom.

Racism

Racism was an integral part of British politics as Britain opened its borders to workers from Pakistan, India, Africa and the Caribbean after 1945.

But it is changing. The last prime minister before Sir Keir Starmer was an Indian. And the current leader of the Conservative party is Kemi Badenoch, who is of Nigerian heritage.

Speaking to her party conference in October she told them: “What Britain needs is national unity. I am black. I am a woman. I am British. My children are British. And I will not allow anyone on the right to tell them they do not belong in their own country.”

The FAZ is correct in pointing out that England is now flirting with the far right as is Germany, France, Spain, the Netherlands and other Europeans countries.

However, England’s history has as many cruelties, racism and bad treatment of its own citizens as any nation on the European continent.

The post British History: As Full of Cruelty, Racism and Hate as Any Other Nation in Europe appeared first on The Globalist.


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SKC to merge with SK enpulse to enhance semiconductor back-end capabilities

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SKC to merge with South Korea’s SK enpulse to boost chip back-end business

SKC Co., a materials unit of South Korea’s SK Group, will merge with its semiconductor materials investment subsidiary SK enpulse as part of a strategic reorganization aimed at enhancing its focus on high-value-added semiconductor back-end packaging, reports 24brussels. The merger was approved by SKC’s board during a meeting on Tuesday and is expected to be finalized within this year, following the completion of necessary procedures.

The merger will enable SKC to secure approximately 380 billion won (USD 267.4 million) in funds, which includes cash holdings from SK enpulse and proceeds from recent business divestitures. The company plans to funnel these resources into advanced semiconductor packaging and high-value materials sectors, particularly in the commercialization of glass substrates.

Since 2023, SKC has actively pursued the divestiture of its semiconductor materials businesses as part of a long-term portfolio transformation strategy. It has successfully divested divisions including fine ceramics, wet chemicals and cleaning, and blank masks from SK enpulse, while creating a new entity, I-SEMI Co., for its back-end equipment business, which has now been transferred to semiconductor test equipment maker ISC Co.

This strategic reorganization positions SKC’s semiconductor materials business around two main areas: ISC’s testing equipment business and Absolics Inc.’s glass substrate operations, which are advancing toward commercial production in Georgia, United States. An SKC official stated, “The divestiture of SK enpulse’s non-core businesses marks the completion of our transition to a high-value, back-end-focused portfolio.”


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French parliament set for no-confidence votes

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Lecornu appears likely to survive after delaying pension changes but numbers are tight

There is a live feed of the French parliament debate at the top of this blog. You may need to refresh the page to view it. Also, note that the debate will be in French with no translation in the video. Marine Le Pen is speaking now.

Welcome to our Europe blog with a lively day expected in the French parliament with two no-confidence votes scheduled.

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Proposed UK cuts to global aid fund could lead to 300,000 preventable deaths, say charities

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Exclusive: 20% reduction in contribution to Aids, TB and malaria funding expected to be announced next month

The UK is expected to slash its contribution to a leading aid fund combating preventable diseases, with charities warning this could lead to more than 300,000 otherwise preventable deaths.

If confirmed, the anticipated 20% cut in the UK contribution to the Global Fund to Fight Aids, Tuberculosis and Malaria, would be announced on the sidelines of next month’s G20 summit in South Africa, which Keir Starmer is due to attend.

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Just-released hostage attends funeral of fellow soldier, whose body was among few returned from Gaza

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Two hostages released by Hamas were reunited Wednesday in a Jerusalem cemetery for a final goodbye.

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