French President Emmanuel Macron has reappointed Sebastien Lecornu as prime minister, just days after his resignation, in a desperate attempt to resolve the country’s political gridlock and address its mounting economic challenges. Lecornu’s reappointment follows intense negotiations and comes amid growing concerns over France’s economic stability and ballooning public debt, which has alarmed both domestic and European Union stakeholders. Macron’s decision is widely viewed as a last-ditch effort to salvage his second term, which has been marred by political infighting and a lack of parliamentary majority. Lecornu, who resigned earlier this week after his newly formed Cabinet faced opposition from key coalition partners, has been tasked with forming a government and delivering a budget by year-end. In a statement, Lecornu emphasized his commitment to addressing France’s economic woes and restoring political stability. However, his reappointment has drawn skepticism from opposition leaders, who argue that Macron’s centrist approach lacks the necessary support to govern effectively. The political crisis stems from Macron’s decision to dissolve the National Assembly in June 2024, which resulted in a hung parliament and paralyzed legislative progress. With France’s public debt reaching 114% of GDP and poverty rates hitting a record high, the stakes for Lecornu’s success are immense. Investors and EU officials are closely monitoring the situation, as France’s instability threatens to undermine its economic recovery and EU fiscal rules.
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Strong 7.4 magnitude quake hits southern Philippines
A powerful 7.4 magnitude earthquake struck off the southern coast of the Philippines on Friday, prompting immediate tsunami warnings from both Philippine and Indonesian authorities. Residents in coastal towns across central and southern regions were urgently advised to evacuate, with fears of waves exceeding one meter above normal tide levels. The quake resulted in at least one fatality, widespread power outages, and the suspension of classes in affected areas. This seismic event follows closely on the heels of a 6.9 magnitude earthquake in Cebu province just over a week prior, which claimed 74 lives and left hundreds injured. Local media captured scenes of chaos, with overhead cables swaying violently and vehicles coming to a halt as the ground shook. In Davao City, near the epicenter, hospitals overflowed into parking lots as medical staff treated patients outdoors. Edwin Jubahib, governor of Davao Oriental province, reported significant building damage and described the quake as ‘very strong.’ Richie Diuyen, a local disaster agency worker, recounted the terror of the moment, stating, ‘I am still scared and shook. This was the first time I have experienced that.’ The Philippines, situated on the volatile ‘Ring of Fire,’ has been grappling with a series of natural disasters, including typhoons, volcanic eruptions, and earthquakes. Dr. Teresito Bacolcol, director of the Philippine volcanic agency Phivolcs, emphasized the need for preparedness, urging Filipinos to ‘accept our reality’ and remain vigilant. While the Pacific Tsunami Warning Center later declared the threat had passed, aftershocks continued to rattle the southern region of Mindanao. In Indonesia, minor tsunamis were detected, with the highest wave reaching 17cm in the Talaud Islands. Authorities in both nations have called for calm and advised residents to avoid damaged structures.
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Pakistani forces kill 30 militants after deadly ambush that killed soldiers in country’s northwest
Pakistani security forces have conducted a series of targeted operations in the northwestern region, resulting in the deaths of 30 militants linked to the Pakistani Taliban, according to a military statement released on Friday. The raids were launched in response to a deadly ambush earlier this week that claimed the lives of 11 soldiers, including two senior officers, in Orakzai, a district within Khyber Pakhtunkhwa province. The military identified the slain militants as members of “Khwarij,” a term used by the government to describe groups allegedly supported by India, including the banned Tehrik-e-Taliban Pakistan (TTP).
The operations, carried out on Wednesday and Thursday, were described as a decisive response to the ambush. “These successful operations have avenged the heinous act and brought the main perpetrators to justice,” the military stated. It further emphasized that efforts are ongoing to eliminate any remaining “Indian-sponsored Khwarij” in the area, underscoring Pakistan’s resolve to eradicate terrorism.
In a separate incident on Friday night, a group of Pakistani Taliban militants, including suicide bombers, attacked a police training center in Dera Ismail Khan, another city in the northwest. Local police reported multiple blasts and an ongoing exchange of gunfire, with reinforcements dispatched to the scene. The TTP claimed responsibility for the attack, which occurred hours after Pakistan’s army spokesperson, Lt. Gen. Ahmad Sharif, urged Afghanistan’s Taliban government to prevent the use of its territory for launching attacks on Pakistan.
Pakistan has long accused India of supporting separatist movements in Balochistan and the TTP, allegations India denies. The recent surge in militant violence has strained relations between Pakistan and Afghanistan, with many TTP leaders believed to operate from sanctuaries across the Afghan border. Pakistani Defense Minister Khawaja Mohammad Asif reiterated the country’s commitment to responding decisively to such attacks, stating that Pakistan would target “those places from where insurgents attack our security forces.”
The escalation in violence comes amid a broader resurgence of militant activity in the region, with the TTP gaining momentum since the Taliban’s takeover of Kabul in 2021. The situation remains tense as Pakistani forces continue their operations to neutralize threats and restore security.
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Tech billionaires seem to be doom prepping. Should we all be worried?
In recent years, a growing trend among Silicon Valley’s elite has sparked widespread curiosity and speculation: the construction of luxury bunkers and underground shelters. Mark Zuckerberg, the founder of Facebook, has reportedly been developing a 1,400-acre compound on Kauai, Hawaii, since 2014, complete with a 5,000-square-foot underground shelter. Despite Zuckerberg’s insistence that it’s merely a basement, rumors persist that it’s a doomsday bunker. Similarly, tech moguls like Reid Hoffman, co-founder of LinkedIn, have openly discussed ‘apocalypse insurance,’ with New Zealand emerging as a popular destination for such investments. The motivations behind these projects remain unclear, but they coincide with rising concerns about artificial intelligence (AI) and its potential to disrupt society. Ilya Sutskever, chief scientist at OpenAI, has even suggested building a bunker for top scientists before releasing artificial general intelligence (AGI), a technology that could match human intelligence. While some, like Elon Musk, envision AGI as a path to ‘universal high income’ and sustainable abundance, others fear its potential to surpass human control. Governments are taking steps to regulate AI, but the debate over its risks and benefits continues to divide experts. As AI advances, the line between innovation and existential threat grows increasingly blurred, leaving humanity to grapple with the implications of its own creations.
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Morocco’s king addresses social injustices in speech as Gen Z protesters demand reforms
In a compelling address to Morocco’s parliament, King Mohammed VI called on elected officials to prioritize social justice and address the grievances fueling nationwide youth-led protests. The monarch, who entered the chamber unaided, emphasized that tackling social inequalities is not a temporary task but a strategic imperative for the nation’s development. His speech, delivered in traditional white djellaba robes, echoed some concerns raised by the Gen Z 212 movement, which has organized protests demanding better public services, increased health and education spending, and an end to corruption. However, the King avoided direct mention of the movement or its specific demands, such as the resignation of Prime Minister Aziz Akhannouch and investigations into corruption. He also sidestepped criticism of the government’s focus on 2030 FIFA World Cup infrastructure over pressing social needs. The King asserted that both large-scale national projects and social programs share the common goal of improving citizens’ lives. His address came after Gen Z 212 sent him a letter urging action against corrupt officials and faster reforms. While some protesters found the speech underwhelming, others resonated with his acknowledgment of regional disparities and rural poverty. The protests, which began nearly two weeks ago, have seen violent clashes in cities like Oujda and Agadir, resulting in injuries and fatalities. Unemployment among youth aged 15 to 24 remains high, and public hospitals and schools are severely underfunded and overcrowded. Gen Z 212 has called for urgent hiring of healthcare workers, increased public spending, and an end to the privatization of education, which activists argue deepens inequality. The King’s message was clear: elected officials must act decisively and without delay to address these systemic issues.
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Major Russian strikes cut power across Kyiv
In a significant escalation of hostilities, Russian missile and drone strikes have targeted Ukraine’s energy facilities, leading to widespread power outages and civilian casualties. Overnight attacks in Kyiv left nine people injured, with five requiring hospitalization, according to Mayor Vitali Klitschko. Residents in eastern districts faced prolonged darkness and disruptions to water supplies. Meanwhile, in the Zaporizhzhia region, a seven-year-old child was killed, and three others were injured in a separate drone strike. Regional head Ivan Fedorov reported intense attacks in the area, which has been under Russian control for some time. Ukrainian President Volodymyr Zelensky accused Moscow of deliberately targeting the country’s energy grid to create chaos and exert psychological pressure. Energy Minister Svitlana Hrynchuk confirmed that repair crews are working to restore power after a ‘massive strike’ on facilities nationwide. The attacks have also damaged apartment buildings, with images released by Ukraine’s state emergency services showing firefighters battling blazes at a 10-story structure. The entire country remains on high alert for hypersonic Kinzhal missile strikes, which are harder to detect. Zelensky warned that Russia’s strategy aims to dismantle Ukraine’s energy infrastructure, with gas facilities already disrupted. Authorities and energy workers are preparing for further assaults as the conflict intensifies.
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Taiwan to build air defence dome against ‘hostile threats’
Taiwanese President William Lai has announced plans to develop a cutting-edge air defense system, dubbed the ‘T-Dome,’ to counter potential threats from China. The announcement came during his National Day address, where Lai emphasized the urgent need to bolster Taiwan’s defenses in response to escalating Chinese military activities near the island. While Lai did not explicitly name China, the context was clear, given Beijing’s longstanding claim over Taiwan and its refusal to rule out the use of force to achieve reunification. The T-Dome, inspired by Israel’s Iron Dome, aims to provide multi-layered defense, advanced detection, and effective interception capabilities to safeguard Taiwanese citizens. Lai revealed that Taiwan’s defense spending will rise to over 3% of its GDP next year, with a target of 5% by 2030. However, this ambitious plan faces significant hurdles, including opposition from lawmakers who have blocked several defense-related spending bills this year. Analysts caution that implementing the T-Dome will require substantial financial resources and time, potentially extending beyond Lai’s current term. The announcement also appears to signal Taiwan’s commitment to self-defense to the United States, which is legally obligated to support Taiwan in the event of an attack. Lai urged China to act responsibly by renouncing the use of force in the Taiwan Strait, drawing parallels to the lessons of World War II. Despite Beijing’s labeling of Lai as a ‘separatist,’ his administration has taken a firmer stance against China, including significant investments in military preparedness and large-scale defense exercises.
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Wall Street tumbles to its worst day since April after Trump threatens more tariffs on China
The tranquility that had enveloped Wall Street for months was abruptly shattered on Friday as U.S. stocks experienced a significant downturn. This dramatic shift was triggered by President Donald Trump’s announcement that he is considering a substantial increase in tariffs on Chinese imports. The S&P 500 plummeted by 2.7%, marking its worst performance since April. Similarly, the Dow Jones Industrial Average dropped by 878 points, or 1.9%, and the Nasdaq composite fell by 3.6%. The market had initially been on a path to modest gains in the morning, but Trump’s social media post on Truth Social, where he expressed his discontent with China’s restrictions on rare earth exports, sent shockwaves through the financial world. Rare earths are crucial for manufacturing a wide range of products, from consumer electronics to jet engines. Trump’s post also indicated that a planned meeting with Chinese President Xi Jinping during an upcoming trip to South Korea might no longer be necessary. The escalation in tensions between the two largest global economies led to widespread declines across Wall Street, with nearly six out of every seven stocks in the S&P 500 falling. The downturn affected a broad spectrum of companies, from tech giants like Nvidia and Apple to smaller firms grappling with the uncertainty surrounding tariffs and trade. The market’s vulnerability to a downturn was already a topic of discussion, as the S&P 500 had experienced a nearly relentless 35% rise from its low in April, leading some critics to argue that stock prices had become excessively high. Concerns were particularly pronounced in the artificial intelligence sector, where some saw parallels to the dot-com bubble of 2000. For stock prices to appear more reasonable, either a decline in prices or an increase in corporate profits would be necessary. Levi Strauss, for instance, saw its stock price drop by 12.6% despite reporting stronger-than-expected quarterly profits. The company’s full-year profit forecast was within Wall Street’s estimates, but it faced the challenge of heightened expectations following a significant surge in its stock price earlier in the year. The S&P 500 closed at 6,552.51, down by 182.60 points, while the Dow Jones Industrial Average ended at 45,479.60, a drop of 878.82 points. The Nasdaq composite finished at 22,204.43, down by 820.20 points. The oil market also saw significant movement, with the price of benchmark U.S. crude falling by 4.2% to $58.90 per barrel. This decline was partly attributed to a ceasefire between Israel and Hamas in Gaza, which alleviated concerns about potential disruptions to oil supplies. Brent crude, the international standard, dropped by 3.8% to $62.73 per barrel. In the bond market, the yield on the 10-year Treasury fell to 4.05% from 4.14% the previous day. This decline was influenced by a report from the University of Michigan indicating that consumer sentiment remains subdued, with concerns about high prices and weakening job prospects at the forefront. The Federal Reserve had recently cut its main interest rate for the first time this year, with further cuts anticipated to provide the economy with additional support. However, Fed Chair Jerome Powell has cautioned that the central bank may adjust its course if inflation remains high. A preliminary survey from the University of Michigan offered a glimmer of hope, showing that consumers’ expectations for inflation in the coming year had slightly decreased to 4.6% from 4.7% the previous month. While still elevated, this downward trend could help the Fed manage inflationary pressures. Internationally, stock markets in Europe and Asia also experienced declines, with Hong Kong’s Hang Seng falling by 1.7% and France’s CAC 40 dropping by 1.5%. However, South Korea’s Kospi surged by 1.7% following the reopening of trading after a holiday.
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Russian strikes wound at least 20 in Ukraine’s capital as child is killed in separate attack
In a devastating escalation of hostilities, Russian drone and missile strikes early Friday inflicted significant damage across Ukraine, leaving at least 20 people wounded and causing widespread power outages. A child was tragically killed in separate attacks in the southeastern region, underscoring the grim toll of the ongoing conflict. In Kyiv, the Ukrainian capital, rescue teams worked tirelessly to evacuate over 20 individuals from a 17-story apartment building engulfed in flames, with five requiring hospitalization. Ukrainian President Volodymyr Zelenskyy condemned the attacks, accusing Moscow of targeting civilian infrastructure in retaliation for its battlefield setbacks. ‘They can show nothing on the battlefield. All they can do is attack our power sector and our cities,’ Zelenskyy stated. The strikes, described by Prime Minister Yuliia Svyrydenko as ‘one of the largest concentrated strikes’ against Ukraine’s energy infrastructure, disrupted power in Kyiv and multiple regions, including Sumy, Kharkiv, and Zaporizhzhia. Russia’s Defense Ministry claimed the attacks targeted energy facilities supplying Ukraine’s military, utilizing Kinzhal hypersonic missiles and strike drones. Meanwhile, Ukraine’s air force reported intercepting or jamming 405 drones and 15 missiles out of a barrage of 465 drones and 32 missiles. The relentless assault on Ukraine’s power grid, a recurring tactic by Russia ahead of winter, aims to undermine public morale. Zelenskyy, buoyed by recent diplomatic progress in the Middle East, called for enhanced international support, including advanced weaponry, to bolster Ukraine’s defenses and counter Russian aggression.
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Venezuelan opposition leader María Corina Machado wins the Nobel Peace Prize
In a historic recognition of her unwavering commitment to democracy, Venezuelan opposition leader María Corina Machado was awarded the Nobel Peace Prize on Friday. The Norwegian Nobel Committee lauded Machado as a unifying figure in Venezuela’s deeply divided political landscape, praising her resilience in the face of authoritarianism and her dedication to peaceful resistance.