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Real-time News
A survey conducted by Kings College London on May 19th found that with the widespread adoption of artificial intelligence, most British workers expect to face mass unemployment. The survey revealed that Britons perceive occupations such as plumbers as relatively safe, while entry-level white-collar jobs are seen as risky. British workers have relatively low levels of concern about the threat to their jobs. Meanwhile, one in five Britons believe that AI-induced unemployment will trigger "civil unrest."Intel (INTC.O) CEO Chen Liwu: The 14A chip will be put into production in 2028 and will enter the mass production stage in 2029.On May 19th, Fatih Birol, Executive Director of the International Energy Agency (IEA), stated during the G7 finance ministers meeting in Paris, France, on the 18th that commercial oil inventories are "declining sharply" due to the Middle East conflict, and their lifespan is "only a few weeks." Birol said that the IEAs decision in March to coordinate member countries to utilize strategic petroleum reserves could increase market supply by approximately 2.5 million barrels per day, but these reserves are "not inexhaustible," and all parties should recognize the urgency of the situation. The IEAs latest monthly oil report, released on May 13th, showed that global observable oil inventories, including offshore crude, decreased by 250 million barrels in March and April, equivalent to a daily decrease of 4 million barrels. With the summer peak demand approaching, international oil prices may fluctuate further.On May 19th, Trump announced that his direct-to-consumer pharmacy website, TrumpRx, is expanding its list of discounted drugs, adding over 600 generic versions. Generic drugs are typically cheaper, and this expansion helps fill gaps in the websites current offerings. Speaking at the White House, Trump stated that by including this large catalog of inexpensive generic drugs on TrumpRx, consumers will now have a reliable channel to ensure they can purchase the prescription medications they need at the lowest possible price. Mark Cuban, who strongly advocates for direct-to-consumer drug sales through his company, Cost Plus Drugs, accompanied him to the event. The White House stated that discounts on generic drugs offered by Amazon Pharmacy, Cost Plus Drugs, and GoodRx will be integrated into the TrumpRx website. Its important to note that TrumpRx targets those who purchase medications with cash and do not have health insurance. Many people cannot afford prescription drugs without health insurance. Trump administration officials stated that the website still serves a purpose of transparency, allowing people to at least check for better prices.Domestic News: 1. Li Qiang, during his research visit to Beijing, emphasized the need to promote the deep integration of artificial intelligence and advanced manufacturing to accelerate the cultivation and shaping of new drivers and advantages for economic development. 2. The China Securities Regulatory Commission (CSRC) announced it will further promote the deepening reform of the Beijing Stock Exchange. 3. Six departments, including the Ministry of Commerce, issued a notice on strengthening and optimizing tax refund measures for departing tourists to expand inbound consumption. 4. my countrys "Sun Chasing Project" has made significant progress, laying the foundation for building "wireless charging stations" in space. 5. The Ministry of Industry and Information Technology (MIIT) issued implementation measures for capacity replacement in the steel industry, proposing that the national ratio of ironmaking and steelmaking capacity replacement should not be less than 1.5:1. 6. The National Bureau of Statistics reported that the added value of industrial enterprises above designated size nationwide increased by 5.6% year-on-year from January to April. In April, the sales price of newly built commercial housing in first-tier cities rose by 0.1% month-on-month. International News: 1. The UK increased its holdings of US Treasury bonds in March, while China and Japan reduced their holdings. 2. The US Treasury Secretary announced a further 30-day extension of the sanctions waiver for Russian maritime oil shipments. 3. A judge dismissed Musks lawsuit against OpenAI and its CEO Altman. 4. IMF: Raises UK economic forecast, but political turmoil could impact economic growth. 5. UK Prime Minister Starmer emphasizes he will not resign, stating he still plans to participate in the next UK general election. 6. Warsh will be sworn in as Federal Reserve Chairman on Friday, with the swearing-in ceremony presided over by Trump. 7. Japanese Finance Minister Katayama Satsuki: G7 will not consider coordinated action on bond sell-offs; each country must be responsible for its own market conditions. 8. South Korean court partially approves Samsungs application for an injunction against its union; the Samsung union confirms the strike will proceed as planned (Thursday) and negotiations will continue on Tuesday. 9. Middle East situation—① Trump stated he is canceling the planned military strike against Iran scheduled for tomorrow (19th). Middle Eastern countries believe the US and Iran can reach a highly acceptable agreement that includes a clause prohibiting Iran from possessing nuclear weapons. These countries are demanding a short window of two to three days. If no agreement is reached, they are prepared to launch a large-scale strike against Iran. ② Sources say the US has agreed to temporarily waive oil sanctions on Iran during negotiations, but US officials deny this. ③ Iran has submitted a new 14-point negotiating text to the United States through Pakistan. Iran reportedly proposed a long-term, multi-phase ceasefire and the unconditional transfer of enriched uranium to Russia. ④ Iranian sources: The United States has shown flexibility on the issue of Iran maintaining limited nuclear activities, but has only agreed to unfreeze a quarter of Irans assets according to a phased timetable. ⑤ Trump stated that he is not considering making any concessions to Iran. ⑥ Iran disclosed details of Supreme Leader Mojtabas injury: it did not result in disfigurement or permanent disability.
