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Fear of ‘Palestine’ on American campuses

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Classes were cancelled at Columbia University, dozens of protesters were arrested at New York University and Yale, and Harvard’s doors were closed to the public on Monday as some of the most prestigious US universities sought to defuse campus tensions over the Gaza war.

More than 100 pro-Palestinian demonstrators camped out on Columbia’s campus were arrested last week. Following the intervention at Columbia, similar camps were set up at universities across the country.

According to the Associated Press (AP), a camp set up by students at New York University attracted hundreds of protesters throughout the day on Monday. School officials said they warned the crowd to disperse, then called police when the ‘scene became disorganised’ and the university learned of ‘frightening slogans and several anti-Semitic incidents’. In the evening, the police began making arrests.

Tensions were also high on Monday at Columbia, where campus gates were closed to anyone without a school ID and protests erupted both on and off campus.

Pro-Palestinian demonstrators called for the university to withdraw its support for Israel and criticised the school’s response to the war.

Republicans call on Columbia provost to resign

Representative Kathy Manning, a Democrat from North Carolina who visited Columbia with three Jewish members of Congress, told reporters after meeting with students from the Jewish Law Students Association that there was a “huge encampment of people” taking up about a third of the green space.

Manning said after leaving the school’s Morningside Heights campus that she “saw signs calling for the destruction of Israel”, while Columbia administrators announced on Monday that classes at the Morningside campus would offer online options for students whenever possible, citing security as a top priority.

In a message to the school community on Monday, University President Minouche Shafik said he was “deeply saddened” by the events on campus.

“In order to calm the anger and give us all a chance to think about the next steps, I am announcing that all classes will be held virtually on Monday,” Shafik wrote, adding that students who do not live on campus should stay away.

In a letter sent on Monday, Republicans in the US House of Representatives from New York called on Shafik to resign, arguing that he had failed to provide a safe learning environment in recent days as “anarchy engulfed the campus”.

On Sunday, Elie Buechler, rabbi of the Orthodox Union’s Jewish Learning Initiative at Columbia, sent a WhatsApp message to about 300 Jewish students advising them to go home until the campus was safer for them.

New England Patriots owner suspends donations to Columbia

Robert Kraft, owner of the American football team the New England Patriots, has announced that he is withdrawing his support for Columbia University because of its “treatment of Jewish students and faculty” during pro-Palestinian protests on the New York campus.

The announcement by Kraft, a Columbia alumnus and major donor, adds to the pressure on the university, whose chancellor is facing calls from members of Congress to resign.

“I am deeply saddened by the hatred that continues to grow on campus and in our country. I am no longer confident that Columbia can protect its students and staff, and I am reluctant to support the university until corrective action is taken,” Kraft said in a statement through the Foundation Against Antisemitism.

The businessman donated $3 million to build the Kraft Centre for Jewish Student Life in 2000 and has given millions more since then.

Harvard administrators ban pro-Palestinian group

As Harvard Yard closed to the public on Monday, a sign at the entrance stated that structures such as tents and tables could only enter the yard with prior permission. “Students who violate this policy will be subject to disciplinary action,” the sign read, as security guards checked people’s school IDs.

On the same day, the Harvard Undergraduate Palestine Solidarity Committee announced that the university administration had suspended its group. In the suspension notice provided by the student organisation, the university wrote that the group’s demonstration on 19 April violated school policy and that the organisation had previously been placed on probation but had failed to attend required training.

The Palestine Solidarity Committee said in a statement that they were suspended for “technical reasons” and that the university refused to provide them with a written explanation of university policy when asked.

“Harvard has repeatedly shown us that Palestine is the exception to the rule of free speech,” the group said in a statement.

Dozens arrested at Yale

At Yale, police officers arrested about 45 protesters and charged them with trespassing on campus, New Haven police spokesman Christian Bruckhart said. All were later released with promises to appear in court, Bruckhart said.

The protesters set up a tent on Beinecke Plaza on Friday and demonstrated over the weekend, demanding that Yale end its investments in defence companies that do business with Israel.
Yale President Peter Salovey told the campus community on Sunday that university officials had spoken with the protesting students on several occasions about the school’s policies and guidelines, including permission to speak and access campus grounds.

School officials said they gave the protesters until the end of the week to leave Beinecke Plaza.

They said they warned the protesters again Monday morning that they could face disciplinary action, including arrest and suspension, before police took action.Bruckhart said that after Monday’s arrests at Yale, a large group of protesters regrouped and blocked a street near campus.

MIT students call on administration to speak out against warMIT junior Prahlad Iyengar, who is studying electrical engineering, was among the students who set up a tent camp on the school’s campus in Cambridge, Massachusetts, on Sunday night, AP reported.The student said they were calling for a ceasefire and protesting what they described as MIT’s “complicity in the ongoing genocide in Gaza”.

“MIT hasn’t even called for a ceasefire, and that’s absolutely our demand,” Iyengar said.

Inspired by the protests at Columbia University, students at MIT, as well as at Tufts University and Emerson College, set up pro-Palestinian encampments.

Hundreds of students set up tents on campuses in Cambridge, Medford and Boston on Sunday night to protest the Israeli-Hamas war.

AMERICA

Amazon pledges $1 billion to Trump inauguration fund

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Amazon confirmed on Thursday that it will contribute $1 million to Donald Trump’s inauguration fund, a move mirroring similar actions by other major tech companies, including Meta, the parent company of Facebook and Instagram. Amazon also plans to broadcast Trump’s inauguration via its Prime Video service.

This announcement comes as major tech executives seek to establish ties with the incoming U.S. president, despite Trump’s longstanding criticisms of Big Tech. Trump has frequently accused technology companies of censorship and bias against conservative media.

Jeff Bezos, Amazon’s founder and CEO, is reportedly planning to meet Trump at his Mar-a-Lago resort next week, according to The Wall Street Journal, which first reported Amazon’s donation. Similarly, Google CEO Sundar Pichai and Apple CEO Tim Cook have expressed their congratulations to Trump since his election victory in November.

Trump’s relationship with Amazon has been fraught with challenges. During his first term, he accused the company of undercutting competition and criticized its tax policies. In 2018, Trump ordered a review of U.S. Postal Service package pricing, claiming the agency acted as Amazon’s “courier.”

Apple, meanwhile, faces potential risks from Trump’s proposed tariff policies, which could disrupt critical supply chains in China. However, during Trump’s first term, Cook secured exemptions for certain Apple products.

Meta’s CEO, Mark Zuckerberg, and other tech leaders have also engaged with Trump. According to The Information, Zuckerberg dined with Trump after the election. Pichai is also expected to meet Trump this week.

While Trump scrutinized Big Tech during his presidency, Amazon now faces mounting regulatory pressure under President Joe Biden. The U.S. Federal Trade Commission (FTC), led by Lina Khan, has been investigating Amazon for alleged monopoly practices, with several states filing lawsuits last year. The FTC is also examining major cloud service providers, including Amazon, over partnerships in artificial intelligence.

Despite earlier conflicts, Bezos recently praised Trump for his “tremendous grace and courage under real fire” in a post on X (formerly Twitter) following an assassination attempt. Bezos, who also owns The Washington Post, reportedly prevented the newspaper from endorsing Trump’s Democratic opponent Kamala Harris in the 2024 election.

Speculation about a tacit agreement between Bezos and Trump has surfaced, allegedly tied to Blue Origin, Bezos’s rocket company competing with Elon Musk’s SpaceX.

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Investors poured $140 billion into U.S. equities following Trump’s victory

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Nearly $140 billion has flowed into U.S. equity funds since last month’s election, as investors anticipate Donald Trump’s administration will implement sweeping tax cuts and regulatory reforms.

According to the Financial Times (FT), which cites data from EPFR, U.S. equity funds have seen inflows totaling $139.5 billion since Trump’s victory on November 5. This surge in investment made November the busiest month for equity inflows since records began in 2000.

The massive influx of funds has driven major U.S. stock indexes to a series of record highs, as investors appeared to shrug off concerns about potential economic risks, including inflation and its implications for the Federal Reserve’s interest rate policy.

“The growth agenda that Trump has put on the table is being fully embraced,” said Dec Mullarkey, Chief Executive of SLC Management. He added that Trump’s picks for top administration posts have been seen as “very market friendly.”

Trump has promised to fill his administration with financial experts, including Scott Bessent as Treasury Secretary, and Paul Atkins, a cryptocurrency advocate, as Chairman of the Securities and Exchange Commission (SEC).

The president-elect has outlined a pro-growth agenda, emphasizing reduced taxes, deregulation, and economic expansion. These proposals have spurred optimism among investors, fueling a rally in the market.

The S&P 500, Wall Street’s primary stock market indicator, has risen 5.3% since Election Day, bringing its total gains for the year to 28%. Smaller companies, which are often seen as more responsive to changes in the U.S. economy, have outperformed larger firms during this period. The Russell 2000 index recently hit a record high for the first time in three years.

While U.S. equity funds have enjoyed record inflows, other global markets have experienced outflows emerging market funds have seen net withdrawals of $8 billion, with China-focused funds accounting for $4 billion; funds investing in Western Europe have lost $14 billion; and Japan-focused funds have seen outflows of approximately $6 billion.

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U.S. tightens export controls on China’s chip industry to curb AI and military growth

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The United States has introduced new export controls to limit China’s ability to develop advanced semiconductor technology and slow its progress in military applications and artificial intelligence (AI). These measures, described as the most stringent to date, target both U.S. companies and foreign firms utilizing American technology in chip-making equipment.

The controls include a ban on exporting high-bandwidth memory (HBM) chips to China, a crucial component in AI systems. According to U.S. Commerce Secretary Gina Raimondo, the restrictions are “groundbreaking and comprehensive.” She emphasized their importance, saying, “These are the strongest controls ever imposed by the United States to reduce the People’s Republic of China’s ability to produce the most advanced chips used in its military modernization.”

In addition, the U.S. Department of Commerce will place 140 Chinese entities on its Entity List, often referred to as a “blacklist.” Companies on this list must obtain export licenses, which are expected to be nearly impossible to secure. Notable targets include, Semiconductor Manufacturing International Corporation (SMIC), Huawei Technologies, and Chinese firms involved in chip production equipment manufacturing.

According to the Financial Times, the regulations will affect 24 types of chip-making tools previously untouched. To enforce these rules more effectively, the U.S. will apply the Foreign Direct Product Rule (FDPR), impacting non-U.S. companies using American components or technology.

Notably, some U.S. allies, such as Japan and the Netherlands, have been granted FDPR exemptions after agreeing to adopt their own export controls. South Korea is awaiting a similar waiver. An unnamed U.S. official explained that the FDPR aims to prevent companies from circumventing controls by manufacturing tools in locations like Singapore or Malaysia for export to China.

The strategy reflects internal debates within the Biden administration regarding the extent of controls, particularly on Huawei’s operations. Some facilities of the Shenzhen-based company are not yet operational, raising questions about their capability for producing advanced chips. Officials appear divided, balancing tighter restrictions with the need for cooperation from allies.

Interestingly, some experts, including Gregory Allen, an AI specialist at the Center for Strategic and International Studies (CSIS), have noted that leading U.S. toolmakers, such as Applied Materials, KLA, and Lam Research, are doubling their production capacity outside the U.S.

Despite the robust measures, questions remain regarding why certain Chinese manufacturers, such as CXMT, a producer of HBM, have not been added to the Entity List. Officials believe other restrictions will limit CXMT’s production capabilities, though some have argued for more direct action.

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