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Real-time News
September 11th - SpaceX has grand plans for Starship. If all goes according to plan, this 407-foot-tall rocket will one day be used to build an orbital network of artificial intelligence data centers and send humans to the Moon and Mars. But first, the company plans to use Starship to launch a new and improved batch of Starlink satellites—its cash cow. SpaceX plans to launch its first V3 satellites into orbit in a key Starship test flight as early as next week. Getting Starship operational as envisioned is crucial for SpaceX and its shareholders. The company needs Starship not only to revitalize its own Starlink communications network—which contributed nearly 55% of the companys revenue in the second quarter—but also to launch satellites for a range of commercial purposes. Then, perhaps its most lucrative mission: launching a futuristic orbital data center into space, which SpaceX says could help tap into the $26.5 trillion artificial intelligence market.The Indian Ministry of External Affairs stated that during his meeting with Iranian President Pezechzian, Indian Prime Minister Modi emphasized the importance of ongoing efforts to ensure lasting peace and stability in the region.On September 11, U.S. regulators released a statement on Friday announcing proposed guidance on third-party risk management for banks. The Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration stated that the proposal aims to help banks and credit unions “better align and tailor their third-party risk management practices to match the risks of individual third-party relationships.” In a memo, Federal Reserve staff stated that the plan comes as banks increasingly outsource some functions and rely on third-party relationships to improve efficiency and reduce costs. The plan, open to public comment and non-binding, aims to focus regulatory attention on a principles-based approach to such risks. Federal Reserve Governor Barr opposed the proposal, citing concerns about the “significant financial risk” standard.On September 11, it was learned that the Beijing Stock Exchange penalized three investors who privately acquired newly issued shares and agreed to share profits during the IPO process, imposing a three-month trading restriction on their securities accounts. It was determined that these investors reached a private agreement during the IPO subscription phase, locking in investment returns and transferring investment risks by paying fixed fees or agreeing on profit arrangements. According to relevant laws and regulations, publicly offered securities should be traded on legally established securities exchanges. The actions of these investors bypassed public trading channels, seriously disrupting the IPO order and negatively impacting the market ecosystem. The exchanges decisive action sends a signal of strict regulation and rational IPO participation, which is conducive to maintaining fair and just market order and protecting the legitimate rights and interests of investors.On September 11, during his state visit to Germany this week, the President of the United Arab Emirates announced plans to invest €40 billion (approximately US$46.4 billion) in Germany to further deepen economic ties between the two countries. The investment will cover areas such as artificial intelligence, digital infrastructure, and energy. The two countries also announced plans to deepen defense cooperation. The investment plan will include adding approximately 1 gigawatt (GW) of data center capacity. Reportedly, €10 billion of this will be invested in Bavaria, a key center for German industry and technology. Paul Masgrave, Associate Professor of Government at Georgetown University in Qatar, stated that, like all Gulf states, the UAE aims to diversify its overseas investment portfolio and develop an economy less reliant on oil.
