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Wednesday, 5:11 AM

December 4, 2024

Good morning news friend! Keep up with the stories shaping the moment, staying attuned to the rhythm of change. 📰🌟

China Strikes Back

China announced an immediate ban on the export of gallium, germanium, antimony, and other vital materials to the United States. This is in response to US sanctions targeting China's semiconductor industry.

According to the Chinese Ministry of Commerce, these minerals have dual military and civilian applications, justifying the restriction under national security. These minerals are integral to sectors like electronics, renewable energy, aerospace, and defense.

In 2022, China exported about 23 metric tons of gallium and produced approximately 600 metric tons of germanium. Currently, the US sources nearly half of its gallium and germanium from China.

The ban also affects superhard materials and graphite. The prices of these minerals have surged, with antimony prices doubling this year to over $25,000 per ton.

Source: Read More

Labor Market Update

In October, US job openings rose by 372,000, reaching 7.744 million. This increase follows a revised September figure of 7.372 million. Hires dropped by 269,000 to 5.313 million, marking a decline in hiring across all business sizes.

Meanwhile, layoffs fell by 169,000 to 1.633 million, the largest decrease since April 2023. Resignations surged by 228,000 to 3.326 million.

The ratio of job openings to unemployed individuals increased to 1.11, up from 1.08 in September. This ratio contrasts sharply with the peak of 2.03 in early 2022.

Sectors such as retail saw a rise of 60,000 job cuts. Economists anticipate a rebound in job growth for November, projecting an increase of 200,000 jobs. The unemployment rate is expected to tick up slightly to 4.2%.

Source: Read More

South Korea's Martial Law

South Korean President Yoon Suk Yeol declared martial law amid growing political tensions. The backlash was immediate, as 190 lawmakers unanimously voted against it, leading to its reversal just hours later.

Criticism followed from both opposition parties and members of Yoon’s own conservative People Power Party. Calls for Yoon’s impeachment or resignation are intensifying.

Yoon's decree aimed to suppress “anti-state forces” amid parliament’s growing opposition. His approval ratings plummeted to 20%, and his party suffered losses in April's elections. The Democratic Party secured 175 out of 300 National Assembly seats.

Troops briefly surrounded the parliament. The US expressed "grave concern" over the situation.

Source: Read More

Holiday Shopping Spree

During the Thanksgiving weekend, an estimated 197 million people shopped, exceeding the National Retail Federation's (NRF) forecast of 183 million. A slight decline from last year’s record of 200 million.

Online sales reached $41.1 billion, reflecting a 14.6% increase on Black Friday alone. Online shopping saw participation from 124.3 million, a drop from 134.2 million in 2023.

Consumers spent an average of $235 on gifts, which is $8 more than in 2023. About 49% of purchases were for clothing and accessories. In-store traffic increased to 126 million shoppers compared to 121.4 million last year.

$10.8 billion was spent online on Black Friday, while Cyber Monday sales hit $13.3 billion. The NRF projects a 2.5% to 3.5% increase in total holiday spending, potentially reaching up to $989 billion.

Source: Read More

Amazon's AI Supercomputer

Amazon Web Services (AWS) unveiled plans for Project Rainier, an AI supercomputer set for completion in 2025. This system will use hundreds of thousands of Trainium 2 chips and will be five times larger than Anthropic’s current model.

The supercomputer aims to deliver substantial cost savings, offering a 30-40% reduction compared to Nvidia's GPUs. The completed cluster will rank among the largest AI training systems globally.

AWS also introduced its new Ultraserver, featuring 64 interconnected chips, achieving 83.2 petaflops of performance.

AWS is set to compete aggressively against Nvidia, with plans for its next-generation Trainium 3 chip—expected to be four times more powerful than Trainium 2—launching in late 2025.

Source: Read More

Unlocking the Nano Frontier

Nanotechnology manipulates matter at sizes between 1 and 100 nanometers. Richard Feynman first inspired this field in 1959 by questioning the feasibility of creating small-scale machines.

Recent progress includes the capability to observe atoms in motion and material behavior. This requires specialized environments to minimize external factors like temperature changes.

The field extends beyond nanoparticles, impacting materials like semiconductors and enabling innovations in photonics.

The upcoming “digital twin” semiconductor institute aims to support microchip innovation by allowing virtual testing. Funding for nanotechnology research has surged, partly due to tensions over Taiwan's microchip manufacturing dominance.

Source: Read More

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Baked with love,

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