Thank you for joining us. As the Israel-Hamas conflict deepens, the EU has issued a warning to Elon Musk to cease disseminating disinformation on his social media platform X, formerly known as Twitter.
European Commissioner Thierry Breton has posted an open letter addressing the alleged presence of “illegal content.” However, Mr. Musk argues that the social network’s policy is centered around being “open source and transparent.”
5 intriguing stories to kickstart your day
1) Homeowners living near net zero pylons might receive free heat pumps, suggests National Grid | This initiative aims to reduce public opposition to the development of new transmission lines.
2) Sam Bankman-Fried’s former lover testifies that he instructed her to commit fraud | Caroline Ellison is one of three ex-FTX executives who are cooperating with prosecutors.
3) Selfridges suffers £40m loss despite boost in sales due to finance costs | The upmarket department store faced increased expenses in distribution and interest payments last year.
4) Zuckerberg and Musk’s actions plunge digital tabloids into crisis | The social media giants no longer prioritize news, negatively impacting ad-funded publishers.
5) Heavy EV batteries prompt revision of driver’s license regulations regarding vehicle weight | The government plans to eliminate additional training to facilitate the transition to large zero-emissions vehicles.
What occurred overnight
Asian shares advanced, following Wall Street’s gains, as pressure from the bond market subsided.
An optimistic investor sentiment emerged in China after Bloomberg reported that the government is contemplating increased spending on construction to support the economy.
China’s slow recovery from the economic impacts of the pandemic has weighed heavily on both regional and global growth.
The Hang Seng in Hong Kong rose by 1.4%, reaching 17,919.55, while the Shanghai Composite index increased by 0.2% to 3,081.22.
The Nikkei 225 index in Tokyo climbed 0.9% to 32,019.42.
In South Korea, the Kospi surged 2.5% to 2,462.10 after Samsung Electronics reported improved quarterly earnings. Samsung’s shares rose by 4.4%, while SK Hynix’s increased by 3.3%. Analysts believe that the worst contraction in demand for computer chips and electronic devices following the pandemic may now be behind us.
Australia’s S&P/ASX 200 rose by 0.6% to 7,085.70. In India, the Sensex climbed 0.7%, and in Bangkok, the SET increased by 0.8%.
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