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My flight was delayed by over 3 hours. The carrier did not compensate for it. Here's how it unfolded

<ul><li>The global foldable smartphone shipments have declined by 1% in Q3 2024.</li><li>Samsung has emerged as the top company in foldable smartphone shipments in Q3 2024.</li><li>Samsung continues to account for over half of the market share, despite a huge decline in shipments.</li></ul>The global foldable smartphone shipments declined for the first time in Q1 2024, recording a 1% year-on-year decline. This marks the first decline for foldable smartphones in Q3. According to a report by Counterpoint Research, one of the factors for the decline in shipments was Samsung’s<a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-review/articleshow/112497472.cms"> Galaxy Z Fold 6</a> and<a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-galaxy-z-flip-6-galaxy-ring-and-more-launched/articleshow/111637913.cms"> Galaxy Z Flip 6</a> smartphones not performing as expected. <div type="Article" hostid="261" msid="112497472" title="Samsung Galaxy Z Fold 6 review – the complete package" mstype="2" mssubtype="0"></div> “The global foldable market appears to have entered a transitionary phase where it is facing challenges as it progresses from a niche segment to the mainstream. User satisfaction is particularly high with book-type foldable devices, but the prohibitively high prices remain the biggest obstacle to mass adoption,” said Jene Park, Senior Analyst, Counterpoint Research. <h2>Global foldable smartphone market share</h2> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2024 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">56% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Huawei </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Honor </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motorola </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Xiaomi </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6% </td></tr></tbody></table> Source: Counterpoint Research Samsung has emerged as the market leader in Q3 2024, with a market share of 56%, down from 70% in Q3 2023. While the company’s Galaxy Z Fold 6 performed decently, the Galaxy Z Flip 6 failed to match its predecessor’s sales. The company recorded a 21% year-on-year decline in shipments. Huawei has emerged second, with a 15% market share in Q3 2024, up from a 13% market share in Q3 2023. The company recorded a 23% year-on-year growth in shipments. Honor and Motorola take the third and fourth spots, with a 10% and a 7% market share respectively. Both companies have recorded good growth. While Honor has recorded a 121% year-on-year growth, Motorola has recorded a 164% year-on-year growth. Xiaomi is in the fifth position, with a 6% market share. The company recorded the highest year-on-year growth at 185%. This growth was driven by the Mix Flip, the company’s first clamshell smartphone. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/honda-activa-e-and-qc1-electric-scooters-unveiled-in-india-to-go-on-sale-in-2025/articleshow/115725242.cms">Honda Activa e and QC1 electric scooters unveiled in India, to go on sale in 2025</a> <a href="https://www.businessinsider.in/tech/news/indias-pc-market-reaches-new-high-with-4-49-million-shipments-in-q3-2024/articleshow/115719599.cms">India’s PC market reaches new high with 4.49 million shipments in Q3 2024</a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-chipset-launched-starting-at-59999/articleshow/115689685.cms">Realme GT 7 Pro with Snapdragon 8 Elite chipset launched starting at ₹59,999</a>

Global foldable phone shipments decline in Q3 2024, Samsung leads with 56% market share

The <keyword id="19949639" type="General" weightage="100" keywordseo="Rupee" source="keywords">rupee</keyword> recovered from its <keyword id="22025417" type="General" weightage="20" keywordseo="all-time-low" source="keywords">all-time low</keyword> level and opened 25 paise higher at 83.84 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords" meta.keywordsubtype="org" meta.entityname="US dollar" meta.hostid="261" meta.entityid="US dollar">US dollar</keyword> in morning trade on Tuesday, mirroring the rebound in the domestic equity market, even as aggressive dollar bids from foreign banks exerted pressure on the local unit. <keyword id="20024982" type="General" weightage="20" keywordseo="forex-traders" source="keywords">Forex traders</keyword> said risk aversion in the <keyword id="19908188" type="General" weightage="20" keywordseo="global-markets" source="keywords">global markets</keyword>, escalation of geopolitical tensions in the Middle East and outflows by foreign investors further dented investor sentiments. At the interbank foreign exchange market, the local unit opened at 83.92 and then touched an early high of 83.84, registering a 25 paise gain from its all-time closing low of 84.09 against the American currency. On Monday, the rupee slumped 37 paise to settle at an all-time low of 84.09 against the US dollar. "The rupee is being sold off in good times and bad times indicating the demand for US dollar as foreign portfolio investors exit the Indian equity market on high valuation concerns," said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, gained 0.16 per cent to 102.85 points. Brent crude, the global oil benchmark, was trading at USD 77.15 per barrel in futures trade, on fears of spreading Middle East conflict that could hit supplies outweighing fears of a possible US recession that could hurt demand in the world's biggest oil consumer. Moreover, Israel and US are bracing for a significant escalation after Iran and Hamas pledged to retaliate against Israel for killings last week of a Hamas Leader, traders said. In the domestic equity market, the 30-share BSE Sensex rebounded 903.63 points, or 1.15 per cent, to 79,663.03 points, while the Nifty increased by 270.50 points, or 1.12 per cent, to 24,326.10 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 10,073.75 crore, according to exchange data.

Rupee recovers from all-time low level, opens 25 paise higher at 83.84 against US dollar

<ul><li>OpenAI expands ChatGPT Search to all free users.</li><li> The AI startup has also brought in some important new features and enhancements with a new update.</li><li> Information from Netflix and travel booking platforms gains prominence now.</li></ul> OpenAI has expanded access to ChatGPT Search, making it available to all free users. Originally introduced in October 2024 for paid subscribers, the feature was first offered as an invitation-only preview under the name SearchGPT. This update marks a broader rollout, improving the overall user experience. ChatGPT Search features ChatGPT Search provides users with quick, up-to-date answers and links to relevant web sources, a task typically managed by search engines. Kevin Weil, OpenAI’s Chief Product Officer, announced the update in a YouTube video, highlighting the advantage of integrating real-time web information into the <keyword id="19925753" type="General" weightage="20" keywordseo="AI-chatbot" source="keywords">AI chatbot</keyword>. In this enhanced version, prominent links—such as those from Netflix or travel booking platforms—are displayed at the top of search results, followed by ChatGPT’s text-based responses. <keyword id="21453184" type="General" weightage="20" keywordseo="voice-search" source="keywords">Voice Search</keyword> A significant update is the addition of voice search for users with Advanced Voice Mode enabled. This feature can be accessed by tapping the audio waveform button in the compose bar. With voice search, users can request <keyword id="20186447" type="General" weightage="20" keywordseo="real-time-information" source="keywords">real-time information</keyword> on topics like travel destinations, weather updates, or activity recommendations. ChatGPT’s Voice Assistant will reply using one of ten available voice styles. Search engine enhancements OpenAI has enhanced browsing speed and efficiency for users who choose ChatGPT as their default search engine. To streamline this process, the company has also launched a Chrome extension, enabling users to set ChatGPT as their default search engine for instant answers from reliable websites. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x200-and-x200-pro-launched-in-india-starting-at-65999/articleshow/116248162.cms">Vivo X200 and X200 Pro launched in India starting at ₹65,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-13-with-snapdragon-8-elite-to-be-launched-globally-in-january/articleshow/115920790.cms">OnePlus 13 with Snapdragon 8 Elite to be launched globally in January</a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-will-reportedly-launch-three-phones-in-2025-including-the-phone-3/articleshow/115891768.cms">Nothing will reportedly launch three phones in 2025, including the Phone (3)</a>

OpenAI rolls out ChatGPT Search to all free users with voice and map features

Global markets are looking ahead to the US Fed's meeting scheduled for Thursday, November 7, 2024, expecting the Jerome Powell-chaired FOMC (Federal Open Market Committee) to slash interest rates further by 0.25%. In September this year, the Fed surprised the markets by cutting interest rates by a massive 0.5%, for the first time in 4 years. As per the <keyword id="23807624" type="General" weightage="20" keywordseo="CME-Fed-Watch-Tool" source="keywords">CME Fed Watch Tool</keyword>, there is now a 99.5% chance that the Fed will reduce the interest rates by around 25 basis points, bringing it within the range of 4.5% to 4.75%. Only 0.5% believe that the Fed might leave the rates unchanged, within their present range of 4.75% to 5%. As for the Fed's December meeting, scheduled for December 18, per the CME Fed Watch tool, 79.5% believe that interest rates would be in the range of 4.25% to 4.5%. Another 20.4% believe that yields will remain in the range of 4.5% and 4.75%. Only 0.1% see the interest rates staying within their current range of 4.75% to 5% <h2>No major changes anticipated</h2>However, it is unlikely that this quarter-point rate cut would bring about any significant financial changes in the US economy. The Fed is again expected to bring down the interest rates by another 25 basis points in their December meeting. This would imply a total rate cut of about 50 basis points by the end of this year. So, why is the Fed not bringing down interest rates by 50 basis points in one fell swoop this time around? Why wait till December to bring down the rates by another 25 basis points? Experts believe that it could stoke inflation, which has seen a sharp decline in the recent past. A steep slash of borrowing rates could accelerate borrowing activity and inject significant cash into the economy at once, pushing up inflation. Per the Fed's recent projections, a total of 4 rate cuts are anticipated in 2025. On a YoY basis, inflation in the US dipped to 2.4%, close to the Fed's target of 2%. With inflationary pressures reined in, the economy growing at the rate of 2.8% during the third quarter of FY24, and the unemployment rate down to 4.1%, the markets see much merit in bringing interest rates down. This is especially important to boost spending, particularly in sectors such as housing and automobiles, where even a slight tinkering in interest rates can drastically impact the amount and volume of loans taken to own them. Data suggests that during Trump's presidency tenure, i.e., between 2017 and 2021, inflation averaged at a rate of 1.9% a year. During the Biden administration, where Kamala Harris served as VP, the inflation is on track to average around 5% a year. Shrisha Acharya, Vice President, Anand Rathi Global Finance, also notes that the results of the impending US elections, which are likely to be declared tomorrow, will impact the yields and stock markets. "The Trump card, coupled with potential Republican control, could mean higher bond yields due to anticipated increases in deficit spending, inflation risks, and potential tax cuts. This could very well jiggle the confidence in U.S. Treasury bonds and thus start a chain effect that will possibly impact global market stability and lead to short-term volatility. On the other hand, Harris’ rise has been met with a stock market rally glued on expectations of economic stability and controlled inflation, with more predictable fiscal policy likely to help in a soft landing," he explains.

What can you expect from the US Fed meeting later this week? Here's all you need to know

<keyword id="19913110" type="General" weightage="100" keywordseo="Shaktikanta-Das" source="keywords">Shaktikanta Das</keyword>, the Governor of <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI), on October 26, received award for A+ grade in <keyword id="23702898" type="General" weightage="20" keywordseo="Central-Bank-Report-Cards" source="keywords">Central Bank Report Cards</keyword> 2024, for the second consecutive year. The award, presented by <keyword id="22224722" type="General" weightage="20" keywordseo="Global-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Global Finance" meta.hostid="261" meta.entityid="Global Finance">Global Finance</keyword> in <keyword id="21459434" type="General" weightage="20" keywordseo="Washington-D-C-" source="keywords">Washington D.C.</keyword>, USA, recognised RBI Governor's excellent performance and effective leadership in steering India's apex bank through complex economic challenges. In a social media post on X, RBI posted, "Governor @DasShaktikanta received the award for A+ grade in Central Bank Report Cards 2024, for the second consecutive year. Presented by Global Finance at an event held today in Washington DC, USA." The Central Bank Report Cards, published annually by Global Finance since 1994, grade the central bank governors of nearly 100 key countries, territories, and districts, as well as the European Union, the Eastern Caribbean Central Bank, the Bank of Central African States and the Central Bank of West African States. Grades are based on an "A+" to "F" scale for success in areas such as inflation control, economic growth goals, currency stability and interest rate management. "A" represents an excellent performance, down through "F" for outright failure. Along with Das, Denmark's Christian Kettel Thomsen and Switzerland's Thomas Jordan were also accorded an A+ grade. Brazil's Roberto Campos Neto, Chile's Rosanna Costa, Harvesh Kumar Seegolam of Mauritius, Morocco's Abdellatif Jouahri, South Africa's Lesetja Kganyago and Sri Lanka's Nadalal Weerasinghe were amongst those who received the <keyword id="22446364" type="General" weightage="20" keywordseo="A-grade" source="keywords">A grade</keyword>. European Union's Christine Lagarde was given an A- grade. "After a difficult 2023, when geopolitical pressures gathered with tight monetary conditions to create a near-stagflationary environment in the eurozone, the central bank has managed to inch much closer to its 2% target with successive consumer price index (CPI) readings under 3% since February of this year, down to 2.4% in August", Global Finance noted on Lagarde's tenure. <keyword id="19951097" type="General" weightage="20" keywordseo="US-Fed" source="keywords">US Fed</keyword> Chairman Jerome Hayden Powell received an A- grade. Per the Global Finance website, "The Fed has debated in excruciating, and at times confusing, detail throughout this year when and whether to cut its benchmark rate from a 23-year high of 5.5%, a level held since July 2023. This September, the Fed finally turned the monetary ship toward a policy of easing, with a 50-basis point cut, which was at the higher end of forecasts." "Prior to the rate cut, economists agreed that confusion in the markets was a case of bad communication by the Fed, but Powell’s overall handling of policy has been praised. It is difficult to find much fault with the Fed’s approach to policymaking over the past year. The Fed has appropriately changed its tone in response", it continued. However, it also noted that more-substantial easing in the following months will be crucial to avoid a policy mistake and to secure Powell’s legacy. Powell's term as second-time chair of the Fed Reserve ends on May 15, 2026.

Shaktikanta Das receives award for A+ grade in Central Bank Report Cards 2024 in USA

<ul class="summary-list"><li>Donald Trump wants to divide US rivals Russia and China.</li><li>An area of tension is China's new assertiveness in Central Asia.</li></ul>At the Valdai forum last week, <a target="_blank" class="" href="https://www.businessinsider.com/six-telling-moments-putin-speech-valdai-congratulated-trump-china-ukraine-2024-11">Russian President Vladimir Putin</a> was keen to tamp down rumors of simmering tensions with his closest global ally, China's leader <a target="_blank" class="" href="https://www.businessinsider.com/xi-jinping-painful-road-ahead-rainy-days-new-stimulus-china-2024-10">Xi Jinping.</a>The source of the perceived tension is <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-plan-divide-china-russia-axis-is-likely-fail-2024-11">China's growing assertiveness in Central Asia</a>. The region is the latest area in which Xi has launched an audacious bid to increase his political and economic authority and cement its dominance in rare-earth minerals."What is happening in <a target="_blank" class="" href="https://www.businessinsider.com/turkmenistan-what-life-is-like-inside-secretive-dictatorship-2019-10">Central Asia? </a>Many expected it to be a site of conflict or clash between China and Russia," Putin told the forum. "This has not happened."But the reassurances will not convince everyone, and among those <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-plan-divide-china-russia-axis-is-likely-fail-2024-11">on the lookout for signs of division</a> between Putin and Xi is President-elect Donald Trump. The Republican, days before his election, criticized the Biden Administration for allowing China and Russia, the US' two most powerful adversaries, to draw closer together and said that when he takes office, he'd be seeking to drive them apart. The power grab over rare-earth minerals in Central Asia could be among the issues he will seek to exploit.<h2 id="421107c0-1c53-4350-b648-36a082b91bd8">A power struggle over rare-earth minerals </h2>At stake for the US in Central Asia is not just political power but access to the region's reserves of <a target="_blank" class="" href="https://www.businessinsider.com/us-rare-earth-minerals-stockpile-mystery-opacity-worries-experts-2024-6">rare-earth minerals</a> such as uranium, lithium, and tantalum.Rare-earth minerals are needed to make all sorts of products, from F-35 stealth fighters and smartphones to internet <a target="_blank" rel=" nofollow" href="https://www.sciencenews.org/article/rare-earth-elements-properties-technology">fiber-optic cables</a> and MRI machines."If rare earth elements are the crude oil of the 21st century, then Central Asia and Mongolia may be the Saudi Arabias of these strategic minerals," <a target="_blank" class="" href="https://thediplomat.com/2023/12/central-asias-rare-earths-may-fuel-energy-transition/">wrote</a> Wilder Alejandro Sánchez, an analyst at consulting firm Second Floor Strategies."Just like the Middle East, the region is subject to intense and divergent political pressures. Russia and China border the region, each exercising their influence at the other's expense and eager to keep the West out."<div type="image" title="Putin - Xi" height="683" width="1024" msid="115221998" hostid="261" sizebytes="62066"></div>China has the biggest global reserves of these materials. It produces around 60% of the world's rare-earth minerals and processes nearly 90%, according to <a target="_blank" class="" href="https://www.csis.org/analysis/what-chinas-ban-rare-earths-processing-technology-exports-means">the Center for Strategic and International Studies.</a>To cement its dominance, China is also <a target="_blank" class="" href="https://www.businessinsider.com/xi-china-putin-russia-frenemies-limits-power-sphere-influence-2024-7">spending billions on infrastructure in Central Asia</a> and brokering new trade and security deals.At the same time, Western leaders are seeking to strengthen their influence in the area and secure access to its resources. France's President Emmanuel Macron visited Kazakhstan and Uzbekistan last November and Germany's Chancellor Olaf Scholz visited the region in September.'It would be a blow to our interests if either China or Russia established overwhelming influence there," John Herbst, who served as US Ambassador to Uzbekistan between 2000-2003, told Business Insider. "The key, of course, are Kazakhstan and Uzbekistan.""Rare earths, especially in Kazakhstan, are one more reason to establish closer relations in the region and especially its two principal nations."Stefan Wolff, a professor of international security at the University of Birmingham in the UK told BI that Trump could seek to broker a deal with Putin to gain better US access to developing Central Asia's rare-earth mineral resources — and exclude China."There are rare-earth minerals worth exploring/exploiting, and if the US/EU could strike a major deal with [Kazakhstan's capital] Astana, this would certainly contribute to breaking China's monopoly," said Wolff."So, the incentive is clearly there to regain a foothold in Central Asia."<div type="image" title="Xi, Kazakhstan" height="683" width="1024" msid="115222002" hostid="261" sizebytes="38170"></div><h2 id="ba868742-2b53-45b0-8d95-8cef1355430c">Central Asian nations seek autonomy from the Kremlin </h2>China's growing presence in Central Asia is likely enraging the Kremlin, say observers. But Russia is so indebted to China for its diplomatic and economic support in Ukraine, that it's in no position to protest. "There are clearly tensions between Russia and the Central Asian successor states of the Soviet Union," Wolff said.He pointed to recent tensions between Kazakhstan and Russia. The Central Asian<a target="_blank" href="https://www.politico.eu/article/russia-bans-vegetables-from-kazakhstan-after-country-refuses-to-join-brics/"> nations refused to join the BRICS </a>alliance, which Russia has sought to expand as a bulwark against the US. In October, Russia banned some agricultural exports to Kazakhstan in response.Despite Putin's bid to portray the relationship with China in Central Asia as part of a mutually beneficial "no limits" partnership, tensions remain between them.For now, Xi and Putin are determined to supplant the US as the world's dominant powers."But if one of them decides that working against the US damages their international position, their partnership will wither away because even today there are tensions in their relationship," said Herbst."Even today, China has not hidden its long-term revanchist ambitions over Russian, Kazakhstani, Kyrgyz, and Tajikistani territory."<h2 id="b5d0c707-0b3e-4b5e-9154-35b569ac4c2d">Russia and China have too much to gain</h2>For now, dismantling China and Russia to gain more US access to Central Asia seems like a long shot.Russia and China have too much to gain from excluding the US from Central Asia, regardless of how much Trump may seek to exploit tensions between Putin and Xi."It is unlikely that as long as Putin considers the US its main adversary, Russia would break with China. That would not change because of some American initiative in Central Asia," said Herbst.Putin sees in Xi a more predictable partner than the mercurial Trump, said Wolff."Putin and his regime are simply more likely to survive in partnership with Xi. I don't think that Putin sees Trump as a dependable partner in any potential deal," he said. "That's not to say that there won't be a transactional improvement in relations between Washington and Moscow, but it will not derail the relationship between Beijing and Moscow."

How Trump could exploit a looming global struggle for rare-earth minerals

Climate Action 15: 2024's top global innovators powering green solutions

In the face of an escalating climate crisis, scientists are exploring increasingly unconventional ideas to cool the planet. One of the more intriguing — and surprising — proposals is the use of <keyword id="23626780" type="General" weightage="100" keywordseo="diamond-dust" source="keywords">diamond dust</keyword> injected into the atmosphere to reflect sunlight and reduce global temperatures. A team of climatologists, meteorologists, and <keyword id="19912640" type="General" weightage="20" keywordseo="earth" source="keywords">Earth</keyword> scientists found that injecting synthetic diamond particles might be the most effective way to combat <keyword id="19942740" type="General" weightage="20" keywordseo="global-warming" source="keywords">global warming</keyword>. <h2>Just chill, chill</h2>Global temperatures are rising rapidly, and scientists warn that we may have already reached a tipping point. Simply reducing <keyword id="19951337" type="General" weightage="20" keywordseo="carbon-emissions" source="keywords">carbon emissions</keyword> may no longer be enough. Some experts argue that we need active measures to cool the planet and prevent further catastrophic changes to global weather patterns. One potential solution? <keyword id="23626781" type="General" weightage="20" keywordseo="solar-geoengineering" source="keywords">Solar geoengineering</keyword> — a method that involves injecting <keyword id="23626782" type="General" weightage="20" keywordseo="reflective-particles" source="keywords">reflective particles</keyword>, or aerosols, into the atmosphere to bounce sunlight back into space. Historically, sulphur dioxide has been the leading candidate for this approach. Released naturally by volcanic eruptions, sulphur dioxide is known to have a cooling effect on the Earth by reflecting sunlight. However, the downside of injecting it artificially is significant: it could lead to acid rain, damage the ozone layer, and disrupt weather patterns. <div type="Article" hostid="261" msid="114118159" title="Delhi vs. air pollution: Minister pushes for ‘artificial rains’ in city ahead of Diwali as AQI remains worse than ever" mstype="2" mssubtype="0"></div>The new study aimed to find a better alternative by modelling the impact of seven different materials: calcite, diamond, aluminium, silicon carbide, anatase, rutile, and sulphur dioxide. Their 3D <keyword id="19912529" type="General" weightage="20" keywordseo="climate-models" source="keywords">climate models</keyword> factored in light reflection, how long the particles would stay in the atmosphere, and whether they would clump together — something that could diminish their effectiveness. <h2>Why diamonds?</h2>The surprising result of the research was that diamond dust emerged as the most promising candidate. Tiny synthetic diamond particles proved to be highly effective at reflecting both sunlight and heat, while also remaining suspended in the atmosphere for a sufficient period. Unlike sulphur dioxide, diamonds are chemically inert, meaning they would not react with other atmospheric elements to cause harmful side effects like acid rain. The models suggested that injecting 5 million tons of synthetic diamond dust into the atmosphere annually could reduce global temperatures by 1.6°C over the course of 45 years. This kind of cooling would be enough to counteract some of the most severe effects of <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword> and potentially buy time for other long-term solutions. <h2>The cost conundrum</h2>Despite the effectiveness of diamond dust in the simulations, the practical challenge of this approach lies in its cost. Producing and distributing the necessary amount of <keyword id="20001023" type="General" weightage="20" keywordseo="synthetic-diamonds" source="keywords">synthetic diamonds</keyword> would come with an astronomical price tag — an estimated $200 trillion. To put that into perspective, that’s roughly double the size of the global economy in 2023. While the benefits of <keyword id="23626783" type="General" weightage="20" keywordseo="cooling-the-planet" source="keywords">cooling the planet</keyword> are clear, such a high cost makes this solution far from feasible in the immediate future. <div type="Article" hostid="261" msid="97766424" title="A new climate solution involves shooting moon dust into space to create a &amp;#39;solar shield&amp;#39; around Earth, but scientists say it&amp;#39;s a risky last resort" mstype="2" mssubtype="0"></div>While the diamond dust concept is still in the research phase, the study underscores the urgency of exploring all possible solutions to cool the planet. As temperatures rise and extreme weather events become more frequent, unconventional ideas like this could play a role in the global effort to mitigate climate change. The findings of this research have been published in Geophysical Research Letters and can be accessed <a href="https://dx.doi.org/10.1029/2024GL110575">here</a>.

Diamonds in the Sky: Scientists want to inject diamonds into our atmosphere to cool the planet!

<ul class="summary-list"><li>Russia's oil revenue fell sharply year-over-year in October.</li><li>Oil-related tax revenue dropped 29% last month, while oil and gas proceeds fell more than 25%.</li></ul>Russia saw a double-digit drop in oil revenue last month, hitting an important source of funds for the Kremlin amid pressure on global crude prices. Moscow's revenue from oil-related taxes plummeted 29% year-over-year in October, from 1.48 trillion rubles to 1.05 trillion rubles, according to data from Russia's Finance Ministry. Oil and gas proceeds, which is largely made up of oil production taxes and profit-based taxes in the industry, also fell more than 25% to 1.21 trillion rubles.Total oil and gas revenue rose on a monthly basis, with October levels up more than 75% compared to September. However, that's largely because the profit-based tax on Russia's oil industry is due four times a year, with companies paying taxes in March, April, July, and October, <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-11-05/kremlin-oil-revenue-shrank-by-29-in-october-amid-lower-prices">Bloomberg reported</a>.The yearly drop has largely been fueled by <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/russia-economy-oil-war-revenue-crude-prices-opec-production-cut-2024-9">falling crude prices</a>. International crude prices logged their <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/oil-prices-today-israel-strike-iran-production-brent-wti-crude-2024-10">biggest drop in two years</a> last month after Israel's strike against Iran spared its oil infrastructure. Meanwhile, <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/us-oil-opec-crude-production-record-oil-prices-commodity-market-2024-11">US producers are pumping more than ever</a>, complicating efforts by OPEC+ to crimp supply and boost the price. Brent crude, the international benchmark, traded around $75 a barrel on Tuesday, down 11% over the last year. Meanwhile, Urals crude, Russia's flagship oil blend, traded around $63.57, down around 24% compared to the same time last year, Bloomberg data shows.The drop in oil revenue throttles a key source of funds for <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-ukraine-war-outlook-moscow-sanctions-west-firms-uchicago-2024-10">Russia's war-driven economy</a>, which is becoming increasingly strained under the rising costs of its invasion of Ukraine. Russia's oil and gas industries have accounted for around 30%-50% of Russia's federal budget revenue for the last decade, according to an <a target="_blank" href="https://www.oxfordenergy.org/publications/follow-the-money-understanding-russias-oil-and-gas-revenues/">analysis</a> from The Oxford Institute for Energy Studies. Russia's <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-outlook-defense-budget-spending-ukraine-war-putin-sanctions-2024-10">defense state spending</a>, meanwhile, is on track to hit a post-Soviet high in 2025.

Russia's oil revenue plummeted 29% in October amid volatile global crude prices

<ul class="summary-list"><li>The dollar has gained since Trump's election and his policies could boost the greenback further. </li><li>A stronger dollar could suppress global trade and complicate inflation abroad, a think tank researcher said.</li></ul>Donald Trump's proposed policies are likely to give the US dollar a boost during his second term, but a stronger US currency has the potential to unleash chaos in global markets, according to one think tank researcher. Michael Klein, a senior research fellow at Chatham House, an international affairs think tank, wrote this week that the dollar will likely rise under Trump, despite Trump's own suggestion that he would like <a target="_blank" class="" href="https://www.businessinsider.com/us-dollar-trump-presidential-election-weaker-usd-policy-intervention-trillions-2024-7">to see a weaker dollar</a> to slim the US trade deficit.That's unlikely to happen, Klein said, largely because the greenback's other currency rivals remain challenged and because Trump's policies are bullish for the dollar. "President-elect Donald Trump has a dollar problem. In recent months he has shown a clear preference for a weaker exchange rate to support the competitiveness of US exports and help reduce the US trade deficit. And yet, as the market has sensed since the US election, the much more likely outcome is that his policies end up strengthening the greenback. The risk is that the US dollar— which is expensive already — becomes more obviously overvalued, and this could increase the risk of global financial stability," Klein wrote.Klein said a <a target="_blank" href="https://www.businessinsider.com/strong-us-dollar-exchange-rate-companies-investors-inflation-interest-rates2022-7">stronger dollar</a> could be bad news for other economies around the world. Given how widely the greenback is used across financial markets, global trade could be suppressed if the dollar gains in value.Countries that find their currency devalued against the dollar, meanwhile, could have a harder time taming inflation."If and when the dollar becomes unsustainably expensive, a further problem will present itself: how to deal with an overvalued currency without risking a lot of financial dislocation," Klein said. "Without much scope for a negotiated decline in the dollar, more chaotic alternatives seem likely."Markets have already picked up on the likelihood of a stronger US currency under Trump's presidency. The <a target="_blank" class="" href="https://markets.businessinsider.com/index/us-dollar-index">US Dollar Index</a>, which weighs the greenback against a basket of currencies, has climbed around 3% over the last month and briefly surpassed 107 on Thursday, its highest level in a year.Several of Trump's policies are supportive of a stronger US currency. Klein pointed to Trump's plans for steep tariffs, which include a 10% blanket tariff on most US imports and a 60% tariff on Chinese imports.The US imposing tariffs on another country also tends to devalue the other country's currency, Klein added, due to traders selling the currency on foreign exchange markets. Such was the case in 2018, when Trump's trade restrictions on China led the yuan to depreciate 10% against the dollar that year, Fed data shows."More widespread tariffs on a whole range of US trading partners should therefore strengthen the dollar more broadly," Klein added.Economists have also said <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariffs-higher-inflation-fed-interest-rates-taxes-mortgage-rates-2024-11">Trump's tariff plan</a> could stoke higher <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-win-high-inflation-risk-tariffs-deportations-taxes-2024-11">inflation</a> and higher interest rates, which would prop up the greenback. Trump's other policies, like his plan to <a target="_blank" class="" href="https://www.businessinsider.com/trump-tax-plan-tarriffs-benefits-top-earners-study-2024-10">cut taxes</a>, could also add to price pressures, Klein said."Since boosting the US economy will create inflationary pressure, the market will expect interest rates to end up higher than they might otherwise be. The resulting combination of looser fiscal and tighter monetary policy tends to lead to a stronger currency," Klein said.Trump has pushed back on the idea that his policies could stoke higher prices, and maintained that he will push inflation lower during his presidency. He brought tariffs on some imports from China during his first term without a significant inflation increase, but economists say his tariff plan this time around is more wide-reaching, with a higher likelihood prices rise as a result.

Why a strengthening US dollar could spark instability in global markets in Trump's 2nd term

<ul class="summary-list"><li>Saudi Arabia's wealth fund has pumped billions into global entertainment, sports, and infrastructure.</li><li>Now the Kingdom plans to cut its foreign investment to prioritize domestic spending.</li></ul>Saudi Arabia is pulling back on its <a target="_blank" class="" href="https://www.businessinsider.com/saudi-arabia-public-investment-fund-global-investment-spree-2024-8">global spending spree</a> to focus on domestic investments.Yasir Al Rumayyan, governor of the Public Investment Fund (PIF), said on Tuesday the kingdom planned to reduce the proportion of foreign investments made by the sovereign wealth fund from 30% to about 18% of its portfolio."We're more focused on the domestic economy and we've been achieving and doing so many big things," Al Rumayyan told delegates at the <a target="_blank" class="" href="https://www.businessinsider.com/finance-ceos-supporting-trump-blackstone-steve-schwarzman-citadel-ken-griffin-2024-10">Future Investment Initiative</a> in Riyadh. Saudi Arabia's annual business conference has been dubbed "Davos in the desert" in a nod to the World Economic Forum meeting in Switzerland each January.The absolute dollar amount for overseas deals was still increasing, the PIF chief said.<div type="image" title="Governor of Public Investment Fund of Saudi Arabia Yasir Al-Rumayyan on a panel at the Future Investment Initiative (FII) in Riyadh, Saudi Arabia October 29, 2024." height="3822" width="5366" msid="114781319" hostid="261" sizebytes="297336"></div>In recent years, the PIF has pumped billions into high-profile assets, including global sports teams, entertainment, airport infrastructure, and <a target="_blank" class="" href="https://www.businessinsider.com/saudi-arabia-public-investment-fund-global-investment-spree-2024-8">Uber</a>. The fund's assets are worth about $925 billion.The spending is part of Saudi Arabia's <a target="_blank" href="https://www.businessinsider.com/vision-2030-saudi-arabia-plan-future-proof-oil-economy-2023-8">Vision 2030</a> plan to reduce its economy's dependence on oil and transform the country into a significant global economic player.Investors have flocked to the FII conference in previous years to take advantage of the multi-billion dollar deals struck at the event. The total at last year's conference reached almost $18 billion, the Saudi Press Agency reported.The kingdom has already been slowing its cash flows and telling foreign fund managers to invest more in Saudi Arabia if they want to secure deals.The PIF's traded stocks in the US fell from about $35 billion at the end of 2023 to $20.6 billion at June 30, The Financial Times reported.Al Rumayyan said that investors were already changing their approach. "People used to come to us and ask for money. We are now seeing a shift from people wanting to take our money to people wanting to co-invest."The PIF governor also spoke about Saudi Arabia's <a target="_blank" class="" href="https://www.businessinsider.com/saudi-arabia-ai-groq-a16z-vision-2030-mbs-2024-9">ambitions to become a top destination</a> for AI companies and investors, saying that the technology's economic impact made it a driver of national power."We either have discussions or initial discussions to invest in AI and the reason why we are investing in AI is Saudi Arabia is very well positioned to be a global hub, not only a regional hub," Al Rumayyan said.The technology could add nearly $20 trillion to the global economy by 2030, he added.In September, Saudi Arabia held the third Global AI Summit, attracting a host of high-profile leaders and dealmakers. The PIF is also in talks to partner with prestigious venture capital firm Andreessen Horowitz on an AI fund, with a potential value of $40 billion, Bloomberg reported.The new focus on domestic investment comes as Saudi Arabia's spending on <a target="_blank" class="" href="https://www.businessinsider.com/saudi-arabia-vision-2030-projects-trillion-value-neom-2024-9">Neom</a>, its futuristic megacity in the desert, hit $1 trillion.Neom's scope appears to have been scaled back as the financial realities of the ambitious project hit home. Experts say Saudi has struggled to attract the foreign investment needed to fund the project's lofty goals.A <a target="_blank" class="" href="https://www.businessinsider.com/neom-sindalah-saudi-arabia-crown-prince-the-line-beach-party-2024-10">select group of guests</a> were recently invited to visit <a target="_blank" class="" href="https://www.businessinsider.com/saudi-arabia-neom-sindalah-island-dubai-resort-tourism-2024-4">Sindalah</a>, a luxury island resort in the Red Sea that is one of the first parts of Neom to become reality.

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