Home Blog

Paris prosecutors raid X offices in France and summon Elon Musk : NPR

0

The opening page of X is displayed on a computer and phone, Oct. 16, 2023, in Sydney.

Rick Rycroft/AP


hide caption

toggle caption

Rick Rycroft/AP

PARIS — French prosecutors raided the offices of social media platform X on Tuesday as part of a preliminary investigation into allegations including spreading child sexual abuse images and deepfakes. They have also summoned billionaire owner Elon Musk for questioning.

X and Musk’s artificial intelligence company xAI also face intensifying scrutiny from Britain’s data privacy regulator, which opened formal investigations into how they handled personal data when they developed and deployed Musk’s artificial intelligence chatbot Grok.

Grok, which was built by xAI and is available through X, sparked global outrage last month after it pumped out a torrent of sexualized nonconsensual deepfake images in response to requests from X users.

The French investigation was opened in January last year by the prosecutors’ cybercrime unit, the Paris prosecutors’ office said in a statement. It’s looking into alleged “complicity” in possessing and spreading pornographic images of minors, sexually explicit deepfakes, denial of crimes against humanity and manipulation of an automated data processing system as part of an organized group, among other charges.

Prosecutors asked Musk and former CEO Linda Yaccarino to attend “voluntary interviews” on April 20. Employees of X have also been summoned that same week to be heard as witnesses, the statement said. Yaccarino was CEO from May 2023 until July 2025.

A spokesperson for X did not respond to multiple requests for comment. X’s lawyer in France, Kami Haeri, told The Associated Press: ″We are not making any comment at this stage.”

In a message posted on X, the Paris prosecutors’ office announced the ongoing searches at the company’s offices in France and said it was leaving the platform while calling on followers to join it on other social media.

“At this stage, the conduct of the investigation is based on a constructive approach, with the aim of ultimately ensuring that the X platform complies with French law, as it operates on the national territory,” the prosecutors’ statement said.

European Union police agency Europol “is supporting the French authorities in this,” Europol spokesperson Jan Op Gen Oorth told the AP, without elaborating.

French authorities opened their investigation after reports from a French lawmaker alleging that biased algorithms on X likely distorted the functioning of an automated data processing system.

It expanded after Grok generated posts that allegedly denied the Holocaust, a crime in France, and spread sexually explicit deepfakes, the statement said.

Grok wrote in a widely shared post in French that gas chambers at the Auschwitz-Birkenau death camp were designed for “disinfection with Zyklon B against typhus” rather than for mass murder — language long associated with Holocaust denial.

In later posts on X, the chatbot reversed itself and acknowledged that its earlier reply was wrong, saying it had been deleted and pointed to historical evidence that Zyklon B was used to kill more than 1 million people in Auschwitz gas chambers.

The chatbot also appeared to praise Adolf Hitler last year, in comments that X took down after complaints.

In Britain, the Information Commissioner’s Office said it’s looking into whether X and xAI followed the law when processing personal data and whether Grok had any measures in place to prevent its use to generate “harmful manipulated images.”

“The reports about Grok raise deeply troubling questions about how people’s personal data has been used to generate intimate or sexualised images without their knowledge or consent, and whether the necessary safeguards were put in place to prevent this,” said William Malcolm, an executive director at the watchdog.

He didn’t specify what the penalty would be if the probe found the companies didn’t comply with data protection laws.

A separate investigation into Grok launched last month by the U.K. media regulator, Ofcom, is ongoing.

Ofcom said Tuesday it’s still gathering evidence and warned the probe could take months.

X has also been under pressure from the EU. The 27-nation bloc’s executive arm opened an investigation last month after Grok spewed nonconsensual sexualized deepfake images on the platform.

Brussels has already hit X with a 120-million euro (then-$140 million) fine for shortcomings under the bloc’s sweeping digital regulations, including blue checkmarks that broke the rules on “deceptive design practices” that risked exposing users to scams and manipulation.

On Monday, Musk ‘s space exploration and rocket business, SpaceX, announced that it acquired xAI in a deal that will also combine Grok, X and his satellite communication company Starlink.

Source link

Gold and silver rebound after historic wipeout as analysts say thematic drivers stay intact

0

One kilogram and a five hundred gram gold bars next to one kilogram silver bars at The Vaults Group gold dealers arranged in Barcelona, Spain, on Monday, April 28, 2025.

Bloomberg | Bloomberg | Getty Images

Gold and silver prices rebounded on Tuesday after suffering a historic sell-off, with analysts suggesting that the recent corrections were more a positioning reset than a sustained downturn.

Gold prices clawed back ground after falling on Monday and plunging nearly 10% on Friday —  steepest single-day declines in decades. Silver also recovered modestly after a roughly 30% collapse that marked its worst one-day performance since 1980. 

Spot gold was last up about 6% to $4,938.6 per ounce. Gold futures in New York were last up over 6%, hovering at around $4,951 as of 3.26 a.m. ET.

Spot silver rose nearly 10% to $86.96 per ounce. Silver futures in New York were up 13% at $87.23 per ounce.

The rebound came as investors reassessed whether the rout signaled a structural turning point or an exaggerated reaction to short-term catalysts.

Strategists at Deutsche Bank said history suggests it is short-term catalysts, even as the scale of the sell-off has raised fresh questions about market positioning. The bank said that while signs of elevated speculative activity have been building for months, they are insufficient on their own to explain the magnitude of last week’s move.

“The adjustment in precious metal prices overshot the significance of its ostensible catalysts. Moreover, investor intentions in precious (official, institutional, individual) have not likely changed for the worse.”

Stock Chart IconStock chart icon

Gold and silver prices rebound after steep selloff

The sell-off was triggered by a combination of factors, including a rebound in the U.S. dollar, shifts in expectations around Federal Reserve leadership following President Donald Trump’s nomination of Kevin Warsh as the next Fed chair, and position-trimming ahead of the weekend.

Deutsche Bank said the broader investment case for gold and silver remains intact.

“Gold’s thematic drivers remain positive and we believe investors’ rationale for gold (and precious) allocations will not have changed. The conditions do not appear primed for a sustained reversal in gold prices, and we draw some contrasts between today’s circumstance and the context for gold’s weakness in the 1980s and 2013.”

Barclays struck a similar tone, acknowledging overheated technicals and stretched positioning, but said that the broader “bid” for gold can remain resilient amid geopolitical and policy uncertainties and reserve-diversification themes.

Silver’s whipsaw has been more dramatic, reflecting its smaller market, higher volatility and heavier retail participation. However, some analysts still maintain a bullish case for the white metal.

“Speculative positioning has definitely played a role in the short term. Silver has attracted more retail participation than gold and that makes it that much more sensitive to fast-moving sentiment and short-term trading,” said Zavier Wong, market analyst at eToro.

Wong, however, added it may be “too simplistic” to attribute the entire move to speculation. Silver has genuine industrial demand, particularly tied to areas linked to data centers and AI infrastructure. 

A study published in January projected that global silver demand will surge this decade, driven largely by solar photovoltaics and the shift to more silver-intensive cell technologies. Total demand is forecast to reach 48,000 tonnes to 54,000 tonnes a year by 2030, while supply is expected to rise only to about 34,000 tonnes, meaning just 62%-70% of demand would be met.

The solar sector alone is seen consuming 10,000-14,000 tonnes annually, or up to 41% of global supply.

“That demand hasn’t gone away. What we’re seeing here is silver running ahead of itself, which is something it has always done during strong phases,” said Wong.

Source link

What to know about Jared Kushner’s ‘New Gaza’ plan : NPR

0

Jared Kushner speaks after the signing of a Board of Peace charter during the annual meeting of the World Economic Forum in Davos, Switzerland, Jan. 22.

Evan Vucci/AP


hide caption

toggle caption

Evan Vucci/AP

DUBAI, United Arab Emirates — Loft-style apartments with floor-to-ceiling windows, an off-shore oil and gas rig, advanced industrial zones and park-lined neighborhoods. This is “New Gaza,” a vision laid out by the Trump administration for the destroyed Palestinian territory after two years of war.

“We’ve already started removing the rubble and doing some of the demolition,” Jared Kushner, President Trump’s son-in-law, said while presenting the plan recently in Davos, Switzerland.

“And then ‘New Gaza.’ It could be a hope, it could be a destination, have a lot of industry and really be a place that the people there can thrive, have great employment,” he said.

The Gaza Strip is only 25 miles long and about 4 to 7 miles wide. It was home to around 2.2 million people before the war, all living in densely packed cities and refugee camps. Now, nearly everyone lives in makeshift tents or bombed-out homes that are at risk of collapse. The World Bank estimated in 2024 the cost of damage to critical infrastructure alone was more than $18 billion.

The plan laid out by Kushner rests on Trump’s ceasefire deal, which demands that Hamas decommission its weapons as Israel withdraws from Gaza in phases. Reconstruction would only commence in areas of Gaza where Hamas is fully disarmed, or already emptied of Palestinians and under Israeli military control.

This “New Gaza” plan, however, makes no reference to land deed transfers nor how new housing would be allocated to Palestinians. It also does not say how families will be uprooted from existing buildings that the plan would demolish, particularly in central Gaza and parts of western Gaza City where many buildings are still intact.

Critics, including people NPR interviewed in Gaza, say it erases Gaza entirely and turns it into an investment opportunity atop the ruins of what a U.N. commission determined was a genocide committed by Israel. Israel denies the allegation, and is fighting war crimes charges internationally.

It’s unclear if any Palestinians were consulted in the “New Gaza” vision unveiled by Kushner, but he says Israeli real estate investor, Yakir Gabay, played a key role in crafting the plan. Both men are on the White House-appointed Gaza Executive Board that will oversee the plan and report to Trump’s Board of Peace.

Here are five things to know about the “New Gaza”:

1. Less space for housing than before the war


A slide from Jared Kushner's

A slide from Jared Kushner’s “New Gaza” presentation in Davos, Switzerland, includes an annotated map outlining different areas of the Gaza Strip.

Screenshot by NPR/Board of Peace slide deck


hide caption

toggle caption

Screenshot by NPR/Board of Peace slide deck

Kushner’s plan envisions four district-like areas for Palestinians to live in, nestled between large green areas for parks and industrial zones that appear equal in size or larger than the areas designated for housing. These industrial zones would create more than half a million jobs for Palestinians in Gaza, according to the plan.

A report published by the U.N.-Habitat agency in 2024 said 87% of Gaza was urban area and nearly all the rest was refugee camps, describing the territory as “fully urbanized.”

That means the plan leaves far less room for Palestinian housing than existed before the war, suggesting a smaller population in Gaza.

NPR asked the White House-appointed Gaza Executive Board whether the plan takes into account the full population of Gaza. A spokesperson, who spoke on condition of anonymity to discuss details of the plans, said the figures presented for the first phase of reconstruction are “just the start,” without elaborating.

2. Reshaped cities with some no longer existing

The plan lays out phases for rebuilding, starting with the south. Two areas labeled as “Gaza City” to the north would be built in the last, fourth phase.

Gaza’s residential areas would be divided into quadrants, labeled as Rafah, Khan Younis, Center Camps and Gaza City. They would be disconnected from one another, and divided by large green areas designated for parks, agriculture and sports facilities. Only a few main roads connect them.

The plan would erase northern Gaza cities and refugee camps like Beit Lahia and Jabalia, replacing them with agricultural areas and zones designated for data centers and advanced manufacturing. It would raze other parts of Gaza to the ground to be rebuilt.

“You’re going to remove people’s homes and put parks instead, but did you ask a single person in Gaza to do this?” said Rami Abdel-Aal, a resident of Gaza whose home in Rafah was demolished in an area now occupied by the Israeli military that’s being razed to build the first such community.

“We only want one thing: Leave us to rebuild,” he said. “We don’t want anything from you. Just leave us to rebuild.”

3. A new airport, but no independent land crossing 

In the vision laid out by Kushner, southern Gaza would have an airport, a train and logistics hub, and a port — all nonexistent at the moment.

Gaza has been besieged by Israel since Hamas took over rule of the territory in 2007. People can only exit or enter Gaza by land with Israeli approvals through border crossings Israel controls.

But under the plan, Gaza’s single border crossing with Egypt, known as the Rafah crossing, would no longer be geographically distant from Israel. It would be moved south to the tip of Gaza and renamed a “trilateral crossing,” touching both Egypt and Israel.

Egypt has not commented on the plan, and throughout the war has rejected Israeli control of Rafah.

4. A “New Rafah” as the center of gravity 

Gaza’s southernmost city of Rafah had long been a quiet border town known mostly for its smuggling tunnels with Egypt, but Kushner’s plan envisions the city as Gaza’s logistics and possibly administrative hub.

Rafah, today, is nearly void of residents and under Israeli military occupation. Palestinian militias armed by Israel and opposed to Hamas operate in the area.

Under the “New Gaza” plan, Rafah has among the most housing of all the areas in Gaza, suggesting the population, which before the war was heavily in the north near Israel, would be pushed south.

Described as “New Rafah,” there would be 100,000-plus permanent housing units, according to Kushner’s plan. Prior to the war, all of Gaza had nearly 600,000 apartments and housing units for 2.2 million people, according to the U.N.-Habitat report. It noted a critical housing shortage even before Israeli attacks destroyed or damaged more than 90% of homes.

The new plan also says there will be some 200 educational centers in “New Rafah.” Before the war, Gaza had around 700 schools, including private, public and U.N.-school buildings, according to figures obtained by NPR from the U.N. relief agency for Palestinians, known as UNRWA, and the Palestinian Education Ministry. In addition, there were 17 higher education institutions, or universities.

An Israeli official told NPR the ground in Rafah is being prepared to be cleared of unexploded ordnance and tunnels in order to set up temporary housing. The official spoke on condition of anonymity because they were not authorized to discuss details of the preparations. The official said that Kushner and U.S. special envoy Steve Witkoff have asked Israel to accelerate operations clearing rubble in Rafah, where a neighborhood funded by the United Arab Emirates would be built to house thousands of civilians from Gaza.

The UAE’s government did not respond to a request for comment.

5. A coastline for tourists and investors

The entirety of Gaza’s Mediterranean coastline is designated under the plan as an area for “coastal tourism” with 180 “mixed use” towers.

The visuals for the plan are stark, and look nothing like Gaza. Futuristic towers would form a new skyline along Gaza’s coast, resembling a billionaire’s playground much like Dubai.

Palestinian residents of Gaza would likely be priced out of this prime, new real estate. Gaza’s coastline before the war included apartment buildings, local hotels, cafes and public beaches. These beaches are people’s only escape from Gaza’s otherwise densely packed terrain.

Anas Baba in Gaza City, Ahmed Abuhamda in Cairo and Itay Stern and Daniel Estrin in Tel Aviv contributed to this report.

Source link

How silver has morphed into a meme trade

0

A vendor shows various models and weights of silver bullion at a gold jewellery manufacturer in “El Sagha”, as gold prices recorded an increase after a devaluation of the local currency, at the gold market area in Cairo, Egypt January 14, 2024.

Amr Abdallah Dalsh | Reuters

Silver’s rapid surge and equally dramatic reversal in recent weeks has led market watchers to ask a fundamental question: when does an asset stop trading on fundamentals and start behaving like a meme?

The volatility in silver prices has drawn growing comparisons to meme stocks such as GameStop, the video-game retailer that became a global phenomenon in 2021 after retail traders on Reddit piled in en masse, sending its shares soaring far beyond what traditional valuation models could justify.

Meme stocks are typically characterized by a few core traits: sharp, often parabolic price moves, heavy participation by retail investors and narratives that go viral on social media, sometimes overwhelming fundamentals altogether. Liquidity can rush in quickly, and often exits just as fast.

Michael Antonelli, market strategist at Bull and Baird, laid out the comparison bluntly on X: “How is Silver different than, say, GameStop?” he asked in a post last week. “Is this not a meme now?”

He told CNBC that the metal has reached a kind of “zeitgeist” with retail traders who are starting to move as a herd. While silver does have industrial and consumer uses, prices do not usually move over 100% in three months: “It is totally disconnected and went vertical based on retail flows,” he said.

Individual investors on Jan. 26 poured about $171 million net into the iShares Silver Trust, a popular exchange-traded fund that tracks the metal, according to recent market research firm VandaTrack. That was almost double the previous peak recorded during the “silver squeeze” of 2021.

Spot silver prices advanced almost 5% to $83.37 per ounce on Tuesday, while silver futures in New York rose over 9% to $84 per ounce.

Over the past month, silver has recorded 10 moves of 5% or more in either direction.

“Silver has just become retail’s new [favorite] toy,” Vanda analyst Ashwin Bhakre said.

That enthusiasm is visible across Reddit. The platform played a central role in the original meme-stock phenomenon, with Reddit community WallStreetBets being at the forefront of coordinating retail buying in GameStop in 2021.

On the Reddit Silverbugs forum — a community where users document physical purchases, debate price targets and share memes — posts following the recent sell-off are emblematic of the meme-stock culture.

Stock Chart IconStock chart icon

Silver prices in the past month

“Bought the dip today! DIAMOND HANDS,” wrote Reddit user Jstaakz following the sell-off Friday. “Diamond hands” is a meme-stock term used by retail traders to signal that they plan to keep holding an asset despite sharp losses or extreme volatility, often as a show of conviction or defiance against selling pressure.

Another user asked fellow traders for advice on Monday on whether they should hold or sell their silver, adding that it was bought at $48 per ounce last June.

“Silver is just GameStop in 2026,” Antonelli said.

A self-fulfilling frenzy

For some analysts, silver’s behavior has crossed a familiar and dangerous threshold.

Rhona O’Connell, head of market Intelligence at StoneX, warned that prices had detached from sustainable levels.

“Silver was massively over-valued and in a self-fulfilling frenzy; it is however notoriously fickle and its history is littered with examples of price crashes,” she said. “At present it is behaving like Icarus and to extend the analogy there is a strong risk of other buyers getting burned.”

Tom Sosnoff, chief executive officer at financial technology platform Lossdog, even included gold into the meme fold: “Gold and silver have been absolutely kind of the meme commodity of 2026 … the silver move has been wild … We’re basically seeing a multi-year moves in less than 30 days.”

“Huge volume, huge volatility, not too much rhyme or reason why. I mean, you can make up as many fundamental or technical reasons as you want, but it’s a meme stock trade,” Sosnoff said.

He cautioned that newer participants were drawn in by headlines and social media. “If you’ve never traded silver before in the futures market or in the ETF market, just be careful. These are big contracts, and they fly around, and they’re moving around at levels that, you know, we’ve never seen before.”

Henrietta Treyz, managing partner at Veda Partners, said the dynamic was unmistakable. “The moves in precious metals are really quite something, whether it’s gold or silver. And you can tell as an outside observer that the meme stock component is very much alive and well,” she said. “It reminds me of GameStop.”

However, not everyone agrees silver should be lumped in with narrative-only assets.

Vasu Menon, managing director of investment strategy at OCBC, said silver “sometimes behaves like a meme commodity, but it isn’t one by nature,” pointing to industrial demand from solar panels, electric vehicles and electronics. Menon, however, acknowledged that speculation had amplified recent moves and that sharp corrections were part of silver’s DNA.

Source link

Costa Rica elects populist conservative Laura Fernández as president : NPR

0

Presidential candidate Laura Fernández addresses supporters after polls closed in San José, Costa Rica, Sunday.

Carlos Borbon/AP


hide caption

toggle caption

Carlos Borbon/AP

SAN JOSE, Costa Rica — Conservative populist Laura Fernández won Costa Rica’s presidency, promising to continue the aggressive reorienting of the Central American nation’s politics started by her political sponsor, outgoing President Rodrigo Chaves.

Preliminary and partial results showed the Costa Rican president’s handpicked successor captured the win with a resounding first-round victory, eliminating the need for a runoff in a crowded field after Sunday’s election.

The Supreme Electoral Tribunal reported that with votes from 96.8% of polling places tallied, Fernández of the Sovereign People’s Party had 48.3% of the vote. Her closest challenger was economist Álvaro Ramos of the National Liberation Party with 33.4%.

Ramos conceded Sunday night and pledged to lead a “constructive opposition,” but one that would not let those in power get away with anything. Fernández will not be formally declared the winner until electoral officials complete a manual count scheduled to begin Tuesday.

“In democracy dissent is allowed, criticizing is allowed,” he said.

On Monday, Fernández said that her greatest desire as the next president is to consolidate Costa Rica’s development to be able to better face global challenges and to produce solid economic growth.

“I hope that we can immediately lower the flags of whichever political party and start working only in favor of the Costa Rican flag,” Fernández said. “I believe the Costa Rican people expect nothing less of us.”

At least 40% of the total vote was required to win the presidential election in the first round.

Fernández campaigned on continuing the policies of the term-limited Chaves.

The historically peaceful Central American nation’s crime surge in recent years was a major issue in the campaign. Some voters faulted Chaves’ presidency for failing to bring those rates down, but many see a continuation of his confrontational style as the best chance for Costa Rica to tame the violence.

Fernández was previously Chaves’ minister of national planning and economic policy and, more recently, his minister of the presidency.

She was considered the frontrunner headed into Sunday’s election.

U.S. Secretary of State Marco Rubio congratulated Fernández in a statement Monday. “Under her leadership, we are confident Costa Rica will continue to advance shared priorities to include combatting narco-trafficking, ending illegal immigration to the United States, promoting cybersecurity and secure telecommunications, and strengthening economic ties,” Rubio said.

Costa Ricans also voted for the 57-seat National Assembly. Chaves’ party was expected to make gains, but perhaps not achieve the supermajority he and Fernández called for, which would allow their party to choose Supreme Court magistrates, for example.

Twenty contenders were seeking the presidency, but no candidate other than Fernández and Ramos reached 5% in the preliminary and partial results.

Some 3.7 million Costa Ricans were eligible to vote.

Four years ago, Chaves ran an outsider campaign that carried him to victory over the country’s traditional parties, despite the fact that he had briefly served as economy minister in a previous administration. His framing of traditional parties as corrupt and self-interested resonated in a country with high unemployment and a soaring budget deficit.

Source link

Trump says U.S. and India reached trade deal, will lower tariffs immediately

0

The U.S. and India have reached a trade deal and will immediately move to lower tariffs on each other’s goods, President Donald Trump announced.

Prime Minister Narendra Modi also agreed to buy American products “at a much higher level” as part of the agreement, Trump said in a Truth Social post Monday following a call with the Indian leader.

Modi additionally committed to “stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela,” Trump said in the post.

Read Trump’s full announcement:

It was an Honor to speak with Prime Minister Modi, of India, this morning. He is one of my greatest friends and, a Powerful and Respected Leader of his Country. We spoke about many things, including Trade, and ending the War with Russia and Ukraine. He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela. This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week! Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff, lowering it from 25% to 18%. They will likewise move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO. The Prime Minister also committed to “BUY AMERICAN,” at a much higher level, in addition to over $500 BILLION DOLLARS of U.S. Energy, Technology, Agricultural, Coal, and many other products. Our amazing relationship with India will be even stronger going forward. Prime Minister Modi and I are two people that GET THINGS DONE, something that cannot be said for most. Thank you for your attention to this matter!

Trump’s announcement asserts the agreements struck on the call will take effect without delay, but the text of the deal has yet to materialize and it is unclear if anything has been signed. The White House and the Office of the U.S. Trade Representative did not immediately respond to CNBC’s requests for additional information.

Legal experts and some Democratic lawmakers have questioned whether Trump can clinch any binding trade agreements without congressional approval, as he has done multiple times since retaking office. Trump and his supporters argue Congress has ceded authority to the executive branch to secure such deals.

Lori Mullins, director of operations at Rogers & Brown Custom Brokers, told CNBC her industry has learned not to react prematurely to Trump’s public trade pronouncements.

“It’s official once the Federal Register notice is posted with dates, times and applicable tariff codes,” Mullins said.

Trade talks between the Trump and Modi administrations had stalled last year amid a number of sticking points, including New Delhi’s continued reliance on Russian oil.

Read more CNBC politics coverage

In August, Trump slapped a 25% tariff on India in response to those oil purchases — on top of the 25% “reciprocal” levy on the country’s U.S.-bound goods that had taken effect earlier the same month.

Trump said in Monday’s post that the reciprocal tariff rate on India will be reduced to 18%, “effective immediately.”

India “will likewise move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO,” Trump wrote.

Modi confirmed the reduction in U.S. tariffs in a post on X later Monday.

“Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement,” Modi wrote.

“When two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation. President Trump’s leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace. I look forward to working closely with him to take our partnership to unprecedented heights,” the prime minister wrote.

Trump’s announcement came one week after India closed a major free trade agreement with the European Union, which Modi touted as the “mother of all deals.”

Some analysts predicted that the progress between Europe and India could “light a fire” under New Delhi and Washington in their pursuit of a bilateral deal.

CNBC’s Lori Ann LaRocco contributed to this report.

Source link

Gaza border crossing buzzes with activity after years of near-complete closure : NPR

0

Ambulances line up to enter the Egyptian gate of the Rafah crossing on the way to the Gaza Strip, in Rafah, Egypt, Sunday, Feb. 1, 2026.

Mohammed Arafat/AP


hide caption

toggle caption

Mohammed Arafat/AP

CAIRO — Gaza’s Rafah border crossing with Egypt was busy with activity Sunday as Israel said that limited travel to and from the territory is set to resume after years of near-complete isolation. Reopening the border crossing is a key step as the Israel-Hamas ceasefire moves ahead.

Israel announced Sunday that the crossing has opened in a test. COGAT, the Israeli military agency that controls aid to Gaza, said in a statement that the crossing was actively being prepared for fuller operation, adding that residents of Gaza would begin to pass through the crossing once preparations were complete.

Palestinian security officers passed through the crossing’s Egyptian gate and headed toward the Palestinian gate to join an EU mission that will be supervising exit and entry, said an Egyptian official, who spoke on condition of anonymity because he wasn’t authorized to talk to the media. Ambulances also crossed through the Egyptian gate, the official added.

The head of the new Palestinian administrative committee governing Gaza’s daily affairs has said travel in both directions would start Monday.


Trucks carrying humanitarian aids line up to enter the Egyptian gate of the Rafah crossing, heading for inspection by Israeli authorities before entering the Gaza Strip, in Rafah, Egypt, Sunday, Feb. 1, 2026.

Trucks carrying humanitarian aids line up to enter the Egyptian gate of the Rafah crossing, heading for inspection by Israeli authorities before entering the Gaza Strip, in Rafah, Egypt, Sunday, Feb. 1, 2026.

Mohammed Arafat/AP


hide caption

toggle caption

Mohammed Arafat/AP

Rafah, which Palestinians see as their gateway to the world, has been largely shut since it was seized by Israel in May 2024.

Few people will be allowed at first, and no goods allowed to cross. About 20,000 Palestinian children and adults needing medical care are hoping to leave war-devastated Gaza via the crossing, and thousands of other Palestinians outside the territory hope to return home.

Zaher al-Wahidi, head of the Health Ministry’s documentation department in Gaza, told The Associated Press that the ministry hasn’t yet been notified about the start of medical evacuations.

Prime Minister Benjamin Netanyahu has said Israel will allow 50 patients a day to leave. An official involved in the discussions, speaking on condition of anonymity to discuss the diplomatic talks, said each patient would be allowed to travel with two relatives, while some 50 people who left Gaza during the war would be allowed to return each day.

Israel has said it and Egypt will vet people for exit and entry through the crossing, which will be supervised by European Union border patrol agents. The number of travelers is expected to increase over time if the system is successful.

Israeli troops seized and closed the Rafah crossing in May 2024, calling it part of efforts to combat Hamas arms smuggling. The crossing was briefly opened for the evacuation of medical patients during a ceasefire in early 2025. Israel had resisted reopening the Rafah crossing, but the recovery of the remains of the last hostage in Gaza last week cleared the way to move forward.

The reopening is a key step as last year’s U.S.-brokered ceasefire agreement, which took effect on Oct. 10, moves into its second phase.

Before the war, Rafah was the main crossing for people moving in and out of Gaza. Although Gaza has four other border crossings, they are shared with Israel. Under the ceasefire terms, Israel’s military controls the area between the Rafah crossing and the zone where most Palestinians live.

Fearing that Israeli could use the crossing to push Palestinians out of the enclave, Egypt has repeatedly said it must be open for both entry to and exit from Gaza. Historically, Israel and Egypt have vetted Palestinians applying to cross.

The current ceasefire halted more than two years of war between Israel and Hamas that began with a Hamas-led attack on southern Israel on Oct. 7, 2023. The truce’s first phase called for the exchange of all hostages held in Gaza for hundreds of Palestinians held by Israel, an increase in badly needed humanitarian aid and a partial pullback of Israeli troops.

The second phase is more complicated. It calls for installing a new Palestinian committee to govern Gaza, deploying an international security force, disarming Hamas, and taking steps to begin rebuilding.

Source link

‘Are you dead?’ app and ‘crying horse’ plushie are a hit

0

While Americans worry about inflation and affordability, the Chinese are fretting about deflation and a down economy.

To get a sense of Chinese consumer confidence today, visit Beijing toy seller Gao Lan, where a frowning horse plushie is selling out for the Year of the Horse.

According to state media, a factory worker mistakenly sewed the toy’s smile upside down, creating a runaway hit in China referred to as “the crying horse.”

“Nowadays, there is so much stress in our society,” Gao said. “The crying horse reflects how people feel inside.”

The popularity of the horse is just one indication of a gloom in Chinese society that appears to be building as the economy slows and people feel less certain about the future.

A view of two “Crying Horse” plush toys, firstly a mouth-piece upside-down mistake by a factory worker and now an overnight sensation, in a New Year celebration stuff shop in Hangzhou in eastern China’s Zhejiang province, Tuesday, Jan. 27, 2026.

Long Wei | Feature China | Future Publishing | Getty Images

Another metric of the melancholy is the viral app sensation Are You Dead? or “Sileme” in Chinese.

In early January, the app by Beijing-based startup Moonscape Technologies topped the charts of Apple‘s App Store in China. The app is meant to give people living alone peace of mind that if they die, someone will notice.

Co-founder Ian Lü told CNBC that all the founders had lived in big Chinese cities on their own and understood the need to check in with someone.

“We realized that if anything happened to us, nobody would have known. So we created the app for users to alert their family or friends,” Lü said in an interview.

The way it works is that you check in with the app every day. If 48 hours goes by without you pressing a big green button on your screen, the app sends an email to your emergency contact.

The service costs 8 yuan (US$1.15) per month.

Despite the demand, the Are You Dead? app is facing a death of its own as the government appears sensitive about the morbid outlook.

Soon after its launch, the app’s name drew criticism from state media, and its founders changed the name to Demumu. However, the app has since disappeared from the App Store.

In this photo illustration, the logo of app Demumu is displayed on a smartphone screen on Jan. 14, 2026 in Suqian, Jiangsu Province of China.

VCG | Visual China Group | Getty Images

Apple told CNBC that China’s cybersecurity watchdog ordered the app’s removal because it failed to comply with rules to “adhere to public order and good morals.”

In a statement, Apple added: “We follow the laws in the countries where we operate. … The app remains available for download on all other storefronts where it appears.”

Because of China’s aging society, more elderly are on their own. And many young people who moved to cities for work don’t have siblings and aren’t partnering up.

China’s marriage rate of 4.3% in 2024 hit a 45-year low.

In China, 1 in 6 households are single-person, which is one of the reasons that dine-in cubbies at McDonald’s have become popular.

The seats, which are separated by partitions so people can have privacy when they eat alone, are not new. However, photos of them have gone viral on social media. The design is seen as a nod to how more Chinese are living solo.

It is that backdrop of loneliness and anxiety where the crying horse fits right in.

“There is a lot of bitterness and a feeling of unfairness,” Xiao Juan, a customer at Gao’s toy store said. “If you can’t cry out loud, this horse can cry for you.”

Source link

Iran’s supreme leader warns any US attack would spark ‘regional war’ : NPR

0

This handout image from the U.S. Navy shows an EA-18G Growler landing on the flight deck of the Nimitz-class aircraft carrier USS Abraham Lincoln in the Indian Ocean on Jan. 23, 2026.

Seaman Daniel Kimmelman/US Navy/AP


hide caption

toggle caption

Seaman Daniel Kimmelman/US Navy/AP

DUBAI, United Arab Emirates — Iran’s supreme leader warned Sunday that any attack by the United States would spark a “regional war” in the Mideast, further escalating tensions as President Donald Trump has threatened to militarily strike the Islamic Republic.

The comments from the 86-year-old Ayatollah Ali Khamenei are the most-direct threat he’s made so far as the aircraft carrier USS Abraham Lincoln and associated American warships are in the Arabian Sea, sent by Trump there after Tehran’s bloody crackdown on nationwide protests.

It remains unclear whether Trump will use force. He’s repeatedly said Iran wants to negotiate and has brought up Tehran’s nuclear program as another issue he wants to see resolved.

But Khamenei also referred to the nationwide protests as “a coup,” hardening the government’s position as tens of thousands of people reportedly have been detained since the start of the demonstrations. Seditious charges in Iran can carry the death penalty, which again renews concerns about Tehran carrying out mass executions for those arrested — a red line for Trump.

Iran had also planned a live-fire military drill for Sunday and Monday in the strategic Strait of Hormuz, the narrow mouth of the Persian Gulf through which a fifth of all oil traded passes. The U.S. military’s Central Command had warned against threatening American warships or aircraft during the drill or disrupting commercial traffic.

Khamenei warns US

Iranian state television reported Khamenei’s comments online before airing any footage of his remarks.

“The Americans should know that if they start a war, this time it will be a regional war,” Khamenei was quoted as saying.


A woman walks through the Shiite Saints Abdulazim and Taher shrine in Shahr-e-Ray, south of Tehran, Iran, Thursday, Jan. 29, 2026.

A woman walks through the Shiite Saints Abdulazim and Taher shrine in Shahr-e-Ray, south of Tehran, Iran, Thursday, Jan. 29, 2026.

Vahid Salemi/AP


hide caption

toggle caption

Vahid Salemi/AP

It added that Khamenei said: “We are not the instigators and we do not seek to attack any country. But the Iranian nation will deliver a firm blow to anyone who attacks or harasses it.”

Khamenei also hardened his position on the demonstrations after earlier acknowledging some people had legitimate economic grievances that sparked their protests. The demonstrations began Dec. 28, initially over the collapse of Iran’s rial currency. It soon grew into a direct challenge to Khamenei’s rule.

“The recent sedition was similar to a coup. Of course, the coup was suppressed,” he said. “Their goal was to destroy sensitive and effective centers involved in running the country, and for this reason they attacked the police, government centers, (Revolutionary Guard) facilities, banks and mosques — and burned copies of the Quran. They targeted centers that run the country.”

Parliament speaker says EU militaries considered terrorist groups.

The speaker of Iran’s parliament, meanwhile, said that the Islamic Republic now considers all European Union militaries to be terrorist groups, lashing out after the bloc declared the country’s paramilitary Revolutionary Guard a terror group over its bloody crackdown on nationwide protests.

Mohammad Bagher Qalibaf, a former Guard commander, announced the terror designation, which will likely be mostly symbolic. Iran has used a 2019 law to reciprocally declare other nations’ militaries terror groups following the United States declaration of the Guard a terror group that year.

Qalibaf made the announcement as he and others in parliament wore Guard uniforms in support of the force. The Guard, which also controls Iran’s ballistic missile arsenal and has vast economic interests in Iran, answers only to Iran’s 86-year-old Khamenei.

“By seeking to strike at the (Guard), which itself has been the greatest barrier to the spread of terrorism to Europe, Europeans have in fact shot themselves in the foot and, once again, through blind obedience to the Americans, decided against the interests of their own people,” Qalibaf said.

Lawmakers at the session later chanted: “Death to America!” and “Death to Israel!” at the session.

Trump says Iran is ‘seriously talking’ to US

Trump has laid out two red lines for military action: the killing of peaceful protesters or the possible mass execution of those detained in a major crackdown over the demonstrations. He’s increasingly begun discussing Iran’s nuclear program as well, which the U.S. negotiated over with Tehran in multiple sessions before Israel launched a 12-day war with Iran back in June.

The U.S. bombed three Iranian nuclear sites during the war. Activity at two of the sites suggests Iran may be trying to obscure the view of satellites as it tries to salvage what remains there.

Trump on Saturday night declined to say whether he’d made a decision on what he wanted to do regarding Iran.

Speaking to reporters as he flew to Florida, Trump sidestepped a question about whether Tehran would be emboldened if the U.S. backed away from launching strikes on Iran, saying, “Some people think that. Some people don’t.”

Trump said Iran should negotiate a “satisfactory” deal to prevent the Middle Eastern country from getting any nuclear weapons, but said, “I don’t know that they will. But they are talking to us. Seriously talking to us.”

Ali Larijani, a top security official in Iran, wrote on X late Saturday that “structural arrangements for negotiations are progressing.” However, there is no public sign of any direct talks with the United States, something Khamenei has repeatedly ruled out.

Source link

Stoxx 600, FTSE, DAX, CAC, silver, gold, bitcoin

0

LONDON — The European stock market closed higher on Monday as the sell-off in spot gold continued.

The pan-European Stoxx 600 pared losses from this morning and was provisionally 1% higher at the end of the trading session.

Major bourses also reversed losses and turned positive. The U.K.’s FTSE index and Germany’s DAX were last up 1%, and France’s CAC 40 was 0.8% higher.

Tech plays ASML and Be Semiconductor ended the session with modest gains, up about 0.8% and less than 0.1%, respectively. ASM International was down 0.3%

Silver, which has more than doubled over the past 12 months, plunged around 30% on Friday. That marked the metal’s worst one-day performance since 1980. Spot gold was last down 4% to about $4,673 per ounce on Monday. Spot silver last traded down more than 5% at $79.91, while silver futures were marginally higher.

Stock Chart IconStock chart icon

Spot gold and spot silver prices over the last three months

Asia-Pacific markets fell overnight with South Korean benchmarks leading declines, as investors monitored gold and silver prices after Friday’s sharp declines. Meanwhile, U.S. stocks rose on Monday as traders kept an eye on bitcoin after a weekend sell-off.

Bitcoin on Saturday dropped below $80,000 for the first time since April, a sign investors were taking more risk off the table following Friday’s sharp declines in precious metals.

Gold’s worst day in decades and why JPM Private Bank still likes it

Wall Street also turned its attention to Nvidia as questions over the artificial intelligence boom loomed. Nvidia’s plans to pour $100 billion into OpenAI have stalled, with chipmaker execs expressing doubt about the deal, The Wall Street Journal reported, citing people familiar with the matter. Shares were last down 0.7%.

— CNBC’s Fred Imbert contributed to this market report.

Source link