Original Articles

Regional Development

November 9, 2016

Smartphones: from little acorns, great hoax grow

There is a common misconception that Extremadura should be translated as “extra hard”. It actually takes its name from the river Duera. Its financial currents began to shift in 2015, when Spain’s…

Supreme Court appears to favour presidential immunity
The Supreme Court’s conservative majority appeared ready yesterday to rule that former presidents have some degree of immunity from criminal prosecution, which could further delay the criminal case against Donald Trump on charges that he plotted to subvert the 2020 election. Such a ruling would most likely send the case back to the trial court, ordering it to draw distinctions between official and private conduct. Though there was seeming consensus among the justices that the criminal case could eventually go forward based on Trump’s private actions, the additional proceedings could make it hard to conduct the trial before the 2024 election in November. If Trump wins the White House, he can order the Justice Department to drop the charges against him. New York Times, April 26

Ukraine’s agriculture minister detained in multimillion dollar corruption probe
Ukraine’s agriculture minister, Mykola Solskyi, has been detained after being named a formal suspect in a multi-million-dollar corruption inquiry. Blighted by severe corruption scandals since the fall of the Soviet Union, Kyiv has pledged to bolster its anti-graft efforts as part of its bid for EU membership. Solskyi was accused of illegally seizing land worth more than $7m (£5.6m) when he was the head of a major farming company and a member of parliament. An anti-corruption court ordered him to be held in custody until 24 June, prosecutors said. Bail was set at 75.7m hryvnias ($1.9m). Solskyi offered his resignation this week and promised to cooperate with the investigation. The Guardian, April 26

Xi Jinping: China and US should ‘seek common ground while reserving differences’
Xi Jinping opened the meeting with Secretary of State Antony Blinken, saying that China and the US should “seek common ground while reserving differences and not engage in vicious competition”, according to a report from state outlet Xinhua News Agency. They should “stay true to their words”, the Chinese president said, rather than “saying one thing and doing another”, It is possible for China and the US to “develop together and prosper separately”, Mr Xi said. “China is happy to see a confident, open and prosperous United States. We hope that the US side will also take a positive view of China’s development.” BBC news, April 26

MI5 to vet UK academics for Chinese spy links
Academics and researchers involved in cutting-edge science at British universities are to be vetted by the security services, under government plans to tackle Chinese espionage. The director-general of MI5 has warned vice-chancellors that hostile states are actively targeting universities to steal technology that can “deliver their authoritarian, military and commercial priorities”. It follows a secret review into vulnerabilities of the UK’s higher education sector carried out by the security services, which concluded that foreign states such as China are attempting to steal sensitive research. This, it found, was “risking UK national security”, particularly in areas of research which had both civilian and military applications. The Times, April 26

Alphabet set to surge past $2tn valuation as search giant announces first dividend
Alphabet’s first-quarter revenue jumped 15 per cent, and it announced its first-ever dividend of 20 cents a share alongside a $70bn stock buyback, buoyed by a rise in earnings across its main business lines. Revenue at Google’s parent company rose to $80.5bn from $69.8bn a year ago, beating analysts’ expectations for $79bn, according to a filing on Thursday. Earnings per share reached $1.89, up from $1.17 last year and exceeding the average $1.53 estimate. Shares rose as much as 13 per cent in after-hours trading, positioning Alphabet to add more than $250bn to its market capitalisation and push above $2tn, where it would join “Magnificent Seven” peers Microsoft, Apple and Nvidia. Microsoft also reported better than expected earnings on Thursday. Alphabet chief executive Sundar Pichai said the quarter represented a “strong performance from Search, YouTube and Cloud” and that Google was “well under way with our Gemini era”, referring to its generative artificial intelligence large language model. Financial Times, April 26

Miner Anglo American rejects BHP's $38.8 billion takeover bid
British mining giant Anglo American on Friday rejected a blockbuster $38.8-billion takeover bid from Australian rival BHP, slamming it as “highly unattractive” and “opportunistic”. The snub came one day after BHP had launched its colossal bid, which aims to create the world’s biggest listed copper producer and reshape the global mining sector. “The board has considered the proposal with its advisers and concluded that the proposal significantly undervalues Anglo American and its future prospects,” the London-listed company said in a statement. France 24, April 26

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Regional Development

Smartphones: from little acorns, great hoax grow