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The United States government isn’t holding back when it comes to Big Tech, and <keyword id="19902762" type="General" weightage="20" keywordseo="Google" source="keywords" meta.keywordsubtype="org" meta.entityname="Google" meta.hostid="261" meta.entityid="Google">Google</keyword> is squarely in its sights. After years of concern over the tech giant’s grip on the digital world, the US Justice Department (DOJ) has made a bold demand: sell your Chrome browser. The move comes amid two high-stakes antitrust trials that accuse Google of monopolistic practices. So, what’s at the heart of the government’s case, and why is Chrome a key piece of the puzzle? Let’s break it down. <h3 style="line-height:1.38;margin-top:14.0pt;margin-bottom:4.0pt;">Search, Chrome, and monopoly madness</h3>In one corner, we have the DOJ versus Google in a trial in Washington, D.C., where a judge has already ruled that Google’s search business operates as an illegal monopoly. The DOJ argues that Google’s dominance in search, bolstered by its Chrome browser, gives the company an unfair advantage, effectively locking in users and advertisers. To remedy this, the DOJ has proposed that Google sell off Chrome entirely. This drastic move, they argue, could level the playing field and restore competition to a market where Google currently reigns supreme. <h3 style="line-height:1.38;margin-top:14.0pt;margin-bottom:4.0pt;">The ad tech tug-of-war</h3>Meanwhile, in Virginia, a second trial focuses on Google’s grip on the ad tech market — the engine behind the ads you see while browsing. The government alleges that Google’s trio of advertising software products effectively monopolises the ad tech ecosystem. Publishers like News Corp and Gannett claim they’re stuck using Google’s ad tools to survive. DOJ lawyer Aaron Teitelbaum summed it up bluntly: “Google is once, twice, three times a monopolist.” The DOJ accuses Google of using its financial clout to buy out rivals and control the auction systems that determine which ads appear online. This, they say, allows Google to charge advertisers more while paying publishers less. The government wants Google to divest parts of its ad tech business to dismantle this stranglehold. <h3 style="line-height:1.38;margin-top:14.0pt;margin-bottom:4.0pt;">Google fights back</h3>Unsurprisingly, Google has a different story. The tech giant calls the government’s arguments an attempt to pick “winners and losers” in an already competitive market. “The law simply does not support what the plaintiffs are arguing in this case,” said Google’s lawyer Karen Dunn. Google also argues that the ad tech market isn’t as straightforward as the DOJ claims. The company points out that ads appear across multiple platforms — search engines, social media, and apps — and Google doesn’t dominate all of them. In fact, it says rivals like Meta, Amazon, and TikTok are gaining ground. Dunn warned that forcing Google to sell parts of its business or work with competitors would essentially amount to government interference. “This is central planning,” she said, urging the court to reject the DOJ’s proposals. <h3 style="line-height:1.38;margin-top:14.0pt;margin-bottom:4.0pt;">What’s at stake?</h3>If the court rules against Google, the implications could be seismic. The DOJ’s proposals — selling Chrome or divesting parts of Google’s ad business — would fundamentally reshape how the company operates. But don’t expect a resolution anytime soon. Presiding Judge Leonie Brinkema is expected to issue her opinion swiftly, but any decision will almost certainly be appealed, dragging the case potentially to the US Supreme Court. Even then, the question of enforcement remains murky. While the Biden administration is eager to rein in Big Tech, future administrations could change course. Whether Google will ultimately be forced to sell Chrome or parts of its ad tech business is up to the courts — and potentially years of appeals. For now, the trials highlight a growing unease with the power of tech giants like Google. For Google, the stakes couldn’t be higher. For the rest of us, these decisions will shape the future of the internet as we know it. Stay tuned — this battle is far from over.

Why does the US want Google to sell its Chrome browser?

<ul class="summary-list"><li>The US economy added just 12,000 jobs in October, way under the forecast of 106,000.</li><li>The unemployment rate remained at 4.1% as expected.</li></ul>The US economy added just 12,000 jobs in October, falling way short of the forecast of 106,000.The unemployment rate in October matched expectations and held steady at 4.1%.Economists and labor market watchers expected job growth to slow after the back-to-back natural disasters of Hurricane Helene and Hurricane Milton in late September and early October disrupted life in several states."October data from the household and establishment surveys are the first collected since Hurricanes Helene and Milton struck the United States," a news release from the Bureau of Labor Statistics on Friday said. "These hurricanes caused severe damage in the southeast portion of the country."Labor strife also probably weakened October's job growth numbers. The Bureau of Labor Statistics said before Friday's news release that around 44,000 hotel workers, Boeing workers, and others were on strike as data for the report was being gathered.Those two factors weighing on the headline job creation numbers mean the Federal Reserve will likely take this month's report with a grain of salt when deciding whether to pause or continue its interest rate cuts."The Federal Reserve will likely look through the noisy October jobs report and rely on the totality of labor market data which continues to point to a controlled downshift in job creation and labor supply absorption," EY senior economist Lydia Boussour said ahead of the report.The mixed results in the jobs report could complicate the Fed's interest rate plans into next year. The report is just one of many pieces of data Fed members will rely on when making their decision next week. Before the new data release, traders overwhelmingly thought the Fed would cut interest rates by 25 basis points next week, which would be less than the previous 50-basis-point cut in September.The new jobs report is the last US employment report before the presidential election on November 5. An October survey from <a target="_blank" class="" href="https://apnorc.org/projects/registered-voters-are-split-on-trusting-harris-or-trump-to-handle-economic-issues/">AP-NORC</a> found that 43% of registered voters "trust" Kamala Harris can do a better job handling jobs and unemployment, close to the 41% of registered voters that said Donald Trump.This is a developing story. Please check back for updates.

The US added very few jobs in October after hurricanes and strikes shook the economy

India could see a shift in foreign direct investment (FDI) trends in the second term of Donald Trump (Trump 2.0) as President of the United States, says a research report by the State Bank of India. The report highlighted that under his first term, Trump 1.0, the Trump administration made sweeping regulatory changes aimed at attracting investments back to the U.S., which impacted FDI inflows globally, including India. It added that if similar policies are reintroduced in Trump 2.0 also, it could create challenges for emerging markets like India, which rely on FDI as a significant driver of economic growth. Notably, a recent Kotak report highlighted that a complete Republican control over all arms of the US government would mean increased US earnings via corporate tax cuts, higher tariffs on imports into the US and greater US fiscal deficits. The first two could spell doom for emerging markets like India and China, since foreign investors will make a beeline for investing more money in the US markets, which will come at the cost of intense selloff in emerging markets. However, higher fiscal deficits will eventually lead to the dollar weakening after the initial euphoria dies down. "India may see shifts in foreign direct investments (FDIs) during Trump 2.0. The Trump 1.0 administration saw significant regulatory changes aimed at attracting investments back to the US," the SBI report stated. However, given that India has been gradually diversifying its sources of FDI (foreign direct investments), this trend could serve as a buffer against any potential decline. Moreover, domestic institutional investors have been stepping up big time, maintaining some balance to the massive exodus of FIIs over the past month. So far in November 2024, FIIs have withdrawn Rs 19,849 crores from the cash segment in Indian markets, while DIIs have poured in Rs 14,014.18 crores as of November 10th, 2024. "India is no longer dependent on the traditional sources of FDI inflows... unlike the recent past, FDI is now coming in many new sectors," noted the SBI report. Unlike a decade ago, when most FDI inflows came from a limited number of traditional sectors, India is now attracting investment in a wide array of industries, including renewable energy, sea transport, medical devices, and surgical appliances. Data suggests over the last 24 years, i.e., between April 2000 and June 2024, FDIs have poured in $1,013.4 billion in the Indian economy. Out of this, 67%, i.e., $689.88 billion, has come in just the last 10 years. The report added there are up to 12 emerging sectors showing strong FDI interest, which could help offset any loss of inflows in conventional sectors if there is a shift in global investment patterns under another Trump administration. In the last financial year, the top 5 sectors that have received the highest quantum of FDI inflow include the services sector (finance, banking, insurance, and business) which makes up about 16% of the inflows. This is followed computer software &amp; hardware, which constitute around 15% of total FDI flows. Trading and telecommunications follows with a share of 6% each, and Automobile Industry comes next with a 5% share. In the short term, the potential for increased U.S. tariffs, more restrictive H-1B visa policies, and a stronger dollar could bring some volatility to India's trade and investment landscape. However, in the long term, these challenges might also encourage India to expand its manufacturing capabilities, diversify export markets, and focus on becoming economically more self-reliant. Notably, India has maintained a merchandise trade surplus with the U.S. despite tariffs imposed during Trump's first term. This indicates that Indian exports have remained resilient, and there is potential to strengthen this trade relationship further by capitalizing on emerging sectors and reducing dependency on traditional industries. Suman Chowdhury, Executive Director &amp; Chief Economist, Acuité Ratings &amp; Research Limited cautions that in the medium to long term, the trade relationship with the US may see a structural improvement. "Higher tariff and trade restrictions in the US with China should translate into better opportunities for exports of manufactured goods from India", he adds.

FDIs may shift to US under Trump 2.0 but it is unlikely to severely impact FDIs inflow to India, says SBI Report

Days after Trump won his way to the White House, becoming the 47th President of the United States, the US Federal Reserve slashed the interest rates by 25 basis points, bringing them within the range of 4.5-4.75%. This is the second time this year that the Fed has lowered the interest rates, after cutting them down by 50 basis points in September 2024. u Fed chair Jerome Powell noted that monetary policy remains tight as inflation remains elevated at 2.4% as of September 2024, slightly above the 2% mark set by the commission. However, the Fed remained optimistic about the current state of the economy. "The Committee seeks to achieve maximum employment and inflation at 2% over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate," the FOMC (Federal Open Market Committee) noted in its press release. The rate cut was along widely anticipated lines, although experts were wary of the Fed's way ahead, given that Donald Trump has been elected as the US President. In the past, he has, on multiple occasions, expressed his desire to yield greater influence on the Fed, apart from publicly criticizing Powell. However, Powell continued to stand his ground, noting that Trump cannot legally sack him. He believed in keeping the Fed independent, at least until his tenure as governor ends in 2028. He highlighted that even if he is explicitly asked by Trump to quit, he won't do so. <h2>Trump's regime to inch up inflation?</h2> Trump's electoral promises, if translated into policies, could spell disaster for the Fed's effort to curtail inflation. Reportedly, Trump has promised to levy aggressive tariffs against US trading partners, particularly China, and even extend his 2017 tax cuts. This could mean higher levels of the federal deficit, which would push up prices, wages, and hence, inflation, even as the Fed tries to consistently bring it under control. Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities, notes that it wasn't a surprise when the US Fed cut interest rates by 25 basis points (bps) to 4.75%. The Fed had given enough clues, and the market too had anticipated these rate cuts. "However, what was surprising was how the <keyword id="23863852" type="General" weightage="20" keywordseo="US-10-year-bond-yields" source="keywords">US 10-year bond yields</keyword> moved over the last one and a half months, which have been rising relentlessly from 3.6% to almost 4.5% despite the 50 bps cut in the last Fed meeting. It seems that the market is anticipating slower rate cuts going ahead, and maybe there are even chances of inflation rising. The bond yields have cooled off and slipped below the 4.335% mark. This should be bullish for emerging markets like India," he added.

US Fed cuts interest rates by 25 bps, Powell notes Trump's victory to have no impact on policy decisions

<ul class="summary-list"><li>Trump has said he plans to bring down gas prices by boosting US oil production.</li><li>ExxonMobil CEO Darren Woods doesn't see a US oil boom in the near future.</li></ul>President-elect Donald Trump's promise to unleash a <a target="_blank" class="" href="https://www.businessinsider.com/cost-expensive-goods-price-impact-presidential-election-scenarios-trump-harris-2024-10">big oil boom</a> in the US and lower gas prices is running up against a market reality: The world is already awash in fossil fuels. ExxonMobil CEO Darren Woods told <a target="_blank" class="" href="https://www.semafor.com/article/11/12/2024/exxon-ceo-darren-woods-donald-trump-shouldnt-scrap-methane-regulations">Semafor</a> on November 12 that while he wants to maintain US oil production at its current highs, the market is already well supplied. "I don't think today that production in the US is constrained," he said. "I don't know that there's an opportunity to unleash a lot of production in the near term." During the presidential campaign, Trump said that he planned to lower energy prices — including the <a target="_blank" class="" href="https://www.nytimes.com/2024/09/10/us/politics/trump-economics-gas-tariffs-inflation.html">cost of gas</a> — by increasing US oil production. "We will frack, frack, frack and drill, baby, drill," Trump <a target="_blank" class="" href="https://www.factcheck.org/2024/10/the-issues-trumps-proposal-to-lower-prices-by-increasing-energy-production/">said</a> in October. "I will cut your energy prices in half within 12 months." In September, Trump <a target="_blank" class="" href="https://www.nytimes.com/2024/09/10/us/politics/trump-economics-gas-tariffs-inflation.html">said</a> he would reduce gas prices to below $2 a gallon. Energy analysts told Business Insider that big oil companies are more focused on returning money to shareholders than investing in projects that boost production, especially because China isn't importing as much oil due to its economic downturn. Their comments underscore how little control a US president has over the oil and gas market, including prices at the pump. "It's a global market," Ben Cahill, director of energy markets and policy at the University of Texas at Austin, told BI. "There's very little any president can do to change the direction of oil or gasoline prices." Cahill added that he expects the US to increase oil production, but it will happen gradually. The US is already producing record amounts of oil, at <a target="_blank" href="https://www.eia.gov/todayinenergy/detail.php?id=61545">12.9 million barrels of crude a day in 2023</a> compared with about 11 million barrels per day in 2020, when Trump was in office. Last year, the US also became the world's biggest exporter of natural gas. In October, the US Energy Information Administration <a target="_blank" href="https://www.enerdata.net/publications/daily-energy-news/us-eia-expects-domestic-crude-oil-production-reach-135-mbd-2025.html#:~:text=At%20a%20global%20scale%2C%20the,13.5%20mb%2Fd%20in%202025.">projected</a> that the US would produce 13.5million barrels a day in 2025, hitting another record. And there is room for the industry to expand. Woods <a target="_blank" href="https://www.cnbc.com/2024/11/01/exxon-ceo-says-us-election-wont-affect-oil-production.html">told</a> CNBC earlier this month that there are areas in the Gulf of Mexico — where federal leasing hasn't allowed companies to drill — that could be a source of additional oil production in the long term. Patrick De Haan, head of petroleum analysis at GasBuddy, told BI that Trump could take some steps to try to boost US oil production, including easing regulations to open up additional places for companies to drill and working with OPEC. However, he said boosting oil production while keeping prices at a desired level is a "delicate balance" for the industry. "If oil prices drop, you're likely to see a natural decline in US oil production over the long run," he said, adding, "Oil companies have shareholders to be accountable to." In recent years, the US has increased oil production even as President Joe Biden imposed stricter limits on greenhouse gas emissions from power plants, oil and gas infrastructure, and gas-powered vehicles to help slow the climate crisis. In a separate interview with <a target="_blank" class="" href="https://www.wsj.com/business/energy-oil/exxon-says-trump-should-keep-u-s-in-paris-climate-pact-3d8de471">The Wall Street Journal</a>, Woods added that the US shouldn't drop out of the Paris Agreement as Trump did in his first term and has promised to do again. The nearly 200 countries signed onto that agreement <a target="_blank" class="" href="https://www.businessinsider.com/countries-strike-historic-climate-dealfossil-fuels-dubai-2023-12">struck a deal last year at the UN climate summit </a>to move away from fossil fuels this decade and the triple renewable energy by 2030. Woods told Semafor that he supports Biden's limits on methane emissions from the oil and gas sector. Exxon and other US oil majors have goals to reduce emissions, but climate scientists warn<a target="_blank" class="" href="https://www.businessinsider.com/exxon-chevron-investors-reject-climate-change-proposals-2023-6">they aren't aggressive enough</a> to avert catastrophic levels of global warming.

Trump said he'll unleash an oil boom. Exxon Mobil CEO says not so fast.

The rupee fell 7 paise to trade at 84.47 against the US dollar in early trade on Thursday weighed down by a muted trend in domestic equities and strength of the American currency in the overseas markets. <keyword id="20024982" type="General" weightage="20" keywordseo="Forex-traders" source="keywords">Forex traders</keyword> said the latest <keyword id="20064878" type="General" weightage="20" keywordseo="Federal-Open-Market-Committee" source="keywords">Federal Open Market Committee</keyword> (FOMC) minutes reveal a significant shift in the Federal Reserve's outlook. The Fed is likely to put downward pressure on short-term interest rates, reducing the appeal of dollar-denominated assets and contributing to the decline in the Dollar Index. At the interbank foreign exchange, the rupee opened at 84.45 and moved in a tight range and touched 84.47 against the greenback, registering a fall of 7 paise over its previous close. On Wednesday, the rupee depreciated by 11 paise to close at 84.40 against the US dollar. "The 84.50 level remains a strong support for the USD/INR pair. <keyword id="23456490" type="General" weightage="20" keywordseo="RBI-interventions" source="keywords">RBI interventions</keyword>, coupled with anticipated capital inflows -- such as Godrej Properties' Rs 4,000 crore QIP and Univest's USD 16 million capital raise -- are expected to support the rupee further," CR Forex Advisors MD Amit Pabari said. Pabari further added that the USD/INR pair is likely to encounter resistance near the 84.50 mark, with expectations of trading within the 83.80 to 84.50 range, showing a slight downward bias. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.14 per cent at 106.22. Brent crude, the global oil benchmark, fell 0.18 per cent to USD 72.70 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex rose 68.21 points or 0.09 per cent to 80,302.29 in morning trade, while Nifty was up 34.20 points or 0.14 per cent to 24,309.10 points. Foreign Institutional Investors (FIIs) infused Rs 7.78 crore in the capital markets on a net basis on Wednesday, according to exchange data. 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" target="_self"></a> <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" target="_self">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" target="_blank"></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" target="_blank">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" target="_blank"></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" target="_blank">Realme GT 7 Pro with Snapdragon 8 Elite chipset launched starting at ₹59,999</a>

Rupee falls 7 paise to 84.47 against US dollar in early trade

Mumbai: The rupee fell sharply by 15 paise against the US dollar to 83.44 in early trade on Wednesday amid muted trends in the domestic equity markets. However, a decline in the dollar index and a marginal fall in the Brent crude index prevented further losses in the domestic unit, according to experts. At the interbank foreign exchange, the local unit opened at 84.38 -- down 9 paise from its previous close -- and then slid further to 84.44, registering a decline of 15 paise from its previous close. On Tuesday, the rupee pared its intra-day losses to settle flat at 84.29 against the US dollar. "The <keyword id="24182640" type="General" weightage="20" keywordseo="Indian-banking-liquidity" source="keywords">Indian banking liquidity</keyword> fell into deficit as industry players paid Rs 1.6-1.8 lakh crore as GST payment. This was after two months that liquidity has fallen into a deficit as the RBI also intervened into forex markets to defend the rupee weighing on liquidity conditions," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. "The rupee may be in the broad range of 84.00 to 84.50 in the near term as markets await a slew of data from the US this evening," Bhansali added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.15 per cent to 106.84. Brent crude, the global oil benchmark, was marginally down 0.10 per cent to USD 72.74 per barrel in futures trade. In the domestic equity market, the 30-share equity benchmark Sensex was trading 46.69 points lower, or 0.06 per cent, at 79,957.57 points. <keyword id="19932515" type="General" weightage="20" keywordseo="Foreign-Institutional-Investors" source="keywords">Foreign Institutional Investors</keyword> (FIIs) were net buyers in the capital markets on Tuesday, purchasing shares worth Rs 1,157.70 crore, according to exchange data.

Rupee falls 15 paise to 83.44 against US dollar in early trade

<ul class="summary-list"><li>Congress is debating reforms to the military draft system.</li><li>A Senate proposal — if it became law — would force some women to register for the draft. </li></ul>The US military is having a harder time getting Americans to <a target="_blank" href="https://www.businessinsider.com/us-military-recruitment-shortage-target-immigrants-migrants-citizenship-army-navy-2023-6">join the armed forces</a>, so Congress is weighing some options — including making women eligible for the draft.On June 14, the House of Representatives <a target="_blank" href="https://www.washingtonpost.com/national-security/2024/06/14/ndaa-house-republicans-defense-bill/">passed</a> an annual defense policy bill that contained a bipartisan proposal to expand the maximum age of the draft — which the US last used in <a target="_blank" href="https://www.sss.gov/history-and-records/vietnam-lotteries/#:~:text=The%20last%20draft%20call%20was,suspended%20on%20January%2027%2C%201976.">1973</a> to bring men into the armed forces during the Vietnam War era — from <a target="_blank" href="https://www.spokesman.com/stories/2024/jun/19/amid-military-recruitment-challenges-congress-deba/">25 to 26</a>. Currently, most US men between the ages of 18 and 25 are required to register with the Selective Service.The same day, the Senate approved a bill that — if it became law— would force women to register for the draft.The House and Senate proposals have little chance of becoming law, in part because some Republicans aren't on board, The New York Times <a target="_blank" href="https://www.nytimes.com/2024/06/19/us/politics/military-draft-women.html">reported</a>. But as the US military continues to face <a target="_blank" href="https://www.businessinsider.com/mark-milley-wokeness-perception-military-recruitment-challenges-2023-8">recruitment challenges</a> — and <a target="_blank" href="https://www.businessinsider.com/us-economy-surging-problems-elsewhere-risks-american-companies-apple-tesla-2023-10">geopolitical risks</a> persist across the globe — Congress could continue to weigh reforms to the US draft system, in addition to other changes that could boost the number of active service members.In 2023, the US military collectively fell short of its recruiting goals by roughly <a target="_blank" href="https://www.defense.gov/News/News-Stories/Article/Article/3616786/dod-addresses-recruiting-shortfall-challenges/">41,000</a> recruits. A Pew Research poll conducted in January found that 43% of US adults between the ages of 18 and 29 had a <a target="_blank" href="https://www.businessinsider.com/poll-data-young-americans-tend-to-view-the-military-negatively-2024-2">positive view</a> of the US military.The congressional debate about whether women should be included in the draft dates back to at least <a target="_blank" href="https://www.nytimes.com/2020/03/24/us/women-military-draft-selective-service.html">2020</a>, when a group of military experts recommended that Congress enact this measure. The debate comes as the US military has taken some steps over the past decade to <a target="_blank" href="https://www.brookings.edu/articles/women-warriors-the-ongoing-story-of-integrating-and-diversifying-the-armed-forces/">improve equality</a> in the armed forces. As of 2016, women have been able to hold <a target="_blank" href="https://www.army.mil/article/268484/tradocs_contributions_to_the_opening_of_all_army_military_occupation_specialties_to_women#:~:text=With%20the%20full%20integration%20of,full%20potential%2C%20regardless%20of%20gender.">every military position</a>.Not everyone in Congress is on board with the proposal to include women in the draft."We need to get reality back in check here," Missouri Sen. Josh Hawley, a Republican, <a target="_blank" href="https://www.nytimes.com/2024/06/19/us/politics/military-draft-women.html">said</a> on Fox News. "There shouldn't be women in the draft. They shouldn't be forced to serve if they don't want to."

Congress weighs adding women to the US military draft

<ul class="summary-list"><li>Australia will assist the US in the maintenance of a nuclear-powered submarine for the first time ever.</li><li>The move will help pave the way for Australia to acquire nuclear-powered submarines as part of the AUKUS alliance.</li></ul>In a first, Australia is working alongside the US on nuclear-powered submarine maintenance.It's an important step towards Australia acquiring <a target="_blank" class="" href="https://www.businessinsider.com/improved-chinese-nuclear-submarines-could-counter-us-navy-dominance-2024-8">nuclear-powered submarines</a>, a pillar of its partnership with the UK and US to strengthen security in the Indo-Pacific and deter <a target="_blank" class="" href="https://www.businessinsider.com/us-military-china-missile-problem-getting-worse-2024-5">Chinese aggression</a>, a growing challenge.US Indo-Pacific Command first <a target="_blank" class="" href="https://www.pacom.mil/Media/News/News-Article-View/Article/3882274/uss-hawaii-ssn-776-joins-uss-emory-s-land-as-39-in-first-ever-nuclear-powered-a/">announced</a> the arrival of the submarine USS Hawaii in Western Australia for a maintenance period late last month, noting the significance of the arrival of the Virginia-class nuclear-powered attack submarine in the region.INDOPACOM shared that "over the coming weeks, submarine tender USS Emory S. Land will execute several maintenance activities aboard Hawaii. This is the first time Australians have participated in a US submarine maintenance period in Australia."The Australian Navy <a target="_blank" class="" href="https://www.defence.gov.au/news-events/releases/2024-08-22/arrival-uss-hawaii-ssn-776-first-aukus-nuclear-powered-submarine-maintenance-activity-australia">called</a> the work "the most practical demonstration of progress to implement the AUKUS Pathway to date," as Australian personnel conduct hands-on learning and participate in maintenance on the Hawaii.<div type="image" title="US President Joe Biden, Australian Prime Minister Anthony Albanese, and British Prime Minister Rishi Sunak sitting around a roundtable." height="1333" width="2000" msid="113073084" hostid="261" sizebytes="332280"></div>AUKUS is the trilateral partnership between Australia, the UK, and the US, which focuses on freedom and security in the Indo-Pacific region.One of the partnership's goals is to equip Australia with its own nuclear-powered submarines, which it will eventually purchase from the US. The first steps, though, have been to help acquaint the Australian Navy with maintaining and operating the vessels. The US and UK have been helping with this process.The joint maintenance being done in Australia includes the replacement of an antenna on the Hawaii's sail, an inspection of the underwater towed array and torpedo tube muzzles, and full rigging and preparations."This is an important moment for the Royal Australian Navy," said Rear Adm. Matthew Buckley, the Australian Submarine Agency's Head of Submarine Capability. "For the first time, we have Australians who were trained and certified aboard Emory S. Land using their skills on a US SSN in Australian waters."The AUKUS partnership is not just limited to submarines; the defense pact also includes developments related to electronic warfare, missiles and missile defenses, cyber and space warfare, and artificial intelligence. The US, UK, and Australia achieved a milestone in the latter's development just last month when they employed AI to target enemies in a real-time, simulated battle environment <a target="_blank" class="" href="https://www.businessinsider.com/us-allies-ai-target-enemies-like-would-war-first-time-2024-8">for the first time</a>.<div type="image" title="A Chinese jet passing close to a US military aircraft. The jet is under the wing of the aircraft, closing toward the engine." height="848" width="1631" msid="113073082" hostid="261" sizebytes="25320"></div>AUKUS is widely seen as a way for the US and its allies to strengthen the security architecture in the Indo-Pacific region and curb concerning Chinese activities through deterrence.The US and other partners have repeatedly accused China of increasingly aggressive behavior around <a target="_blank" class="" href="https://www.businessinsider.com/red-flags-tell-us-when-chinas-ready-to-invade-taiwan-2024-4">Taiwan,</a> as well as <a target="_blank" class="" href="https://www.businessinsider.com/us-warships-could-protect-pacific-allys-ships-from-china-admiral-2024-8">maritime</a> territory and <a target="_blank" class="" href="https://www.businessinsider.com/chinas-air-force-harassed-us-ally-aircraft-south-china-sea-2024-8">airspace</a> in the South China Sea, among other regional waterways.The US has made continuous efforts to strengthen its connections in the region through joint military exercises, security assistance, and other projects. For instance, the US and Japan have plans to <a target="_blank" class="" href="https://www.businessinsider.com/us-and-japan-teaming-up-to-defeat-hypersonic-missiles-2024-5">develop counter-hypersonic missile defenses</a>. US military leadership has also said that the US could send vessels to escort Philippine ships in the contested waters of the South China Sea.China has called AUKUS "extremely irresponsible," warning that the alliance risks damaging regional peace and prompting an arms race.

A US ally in the Pacific just took an important step toward adding nuclear-powered submarines to its fleet

<ul class="summary-list"><li>The CEO of <keyword id="20763638" type="General" weightage="20" keywordseo="Tesla-rival" source="keywords">Tesla rival</keyword> Lucid had a scathing assessment of the EV market in the US.</li><li><keyword id="23975725" type="General" weightage="20" keywordseo="Peter-Rawlinson" source="keywords">Peter Rawlinson</keyword> said most electric cars in the US "frankly suck" and were underwhelming.</li></ul>The boss of one of <a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla's</a> biggest rivals thinks he knows why the US public isn't being won over by EVs. Peter Rawlinson, the <a target="_blank" class="" href="https://www.businessinsider.com/lucid-ceo-comments-tesla-losing-its-way-elon-musk-distracted-2024-5">CEO of Lucid Motors and a former VP of engineering at Tesla</a>, spoke on the Cars and Culture podcast last week that most of the <keyword id="19895203" type="General" weightage="100" keywordseo="Electric-Vehicles" source="keywords">electric vehicles</keyword> on offer "frankly suck." Asked whether EVs in the US have a perception problem, Rawlinson said the problem was "not perception, but reality." "I think many people have driven EVs that frankly suck. I know because I drive all the competition," he said. "I think that the American public has been ill-served by underwhelming EVs," Rawlinson added. Rawlinson, who previously worked for Elon Musk and helped build Lucid, became CEO of Lucid in 2019. The EV startup is gearing up to launch its new electric SUV, the <a href="https://www.businessinsider.com/luvid-gravity-suv-details-photos-tesla-topping-range-interior-cargo-2023-11" target="_blank">$94,900 Gravit</a>y, with production expected to start by the end of this year. Lucid has <a target="_blank" class="" href="https://www.businessinsider.com/tesla-vs-lucid-which-is-better">touted its industry-leading technology</a> but continues to be stuck in the so-called EV "valley of death." The company reported revenues of $200 million in the most recent quarter and a net loss of $992 million. In August, it secured another $1.5 billion in investment from Saudi Arabia's Public Investment Fund, its majority shareholder. Meanwhile, EV sales growth in the US has slowed this year amid a dearth of affordable electric options. According to Kelley Blue Book, the average price of a new electric vehicle in the US in September was $56,000, compared to $48,397 for combustion-engine vehicles. <h2>China races ahead</h2>US automakers are grappling with the challenge posed by Chinese EV companies like BYD and Xiaomi, who have rolled out affordable electric vehicles packed with advanced technology. While these companies are unable to sell their cars in America due to <a target="_blank" class="" href="https://www.businessinsider.com/tesla-criticizes-biden-plan-to-ban-chinese-tech-in-cars-2024-11">cripplingly high tariffs</a>, they are putting Western companies under pressure in China and attracting plaudits in the US, with Ford CEO <a target="_blank" class="" href="https://www.businessinsider.com/ford-ceo-driving-xiaomi-su7-electric-vehicles-ev-2024-10">Jim Farley praising Xiaomi's SU7 EV</a>. Rawlinson previously described China's automakers <a target="_blank" class="" href="https://www.businessinsider.com/lucid-chinese-automakers-years-behind-tesla-electric-vehicles-elon-musk-2024-5">as "years behind" the likes of Tesla</a> in terms of core EV technology. Speaking on the Cars and Culture podcast, he said Chinese companies like BYD were ahead of US rivals in battery chemistry and assisted driving technology — but said they benefit from an "uneven playing field" due to government subsidies. "I think the Chinese do have a fundamental advantage because when the government says go, they all go in the same direction instead of arguing with each other," Rawlinson said. A study from the Centre for Strategic and International Studies think tank, released earlier this year, found that China has <a target="_blank" class="" href="https://www.businessinsider.com/china-electric-vehicles-government-subsidies-win-ev-race-byd-tesla-2024-6">provided at least $230 billion in support</a> to electric vehicle makers such as BYD since 2009. "I'd say they're still behind in terms of the core EV powertrain technology, but don't underestimate them," Rawlinson added. Lucid did not respond to a request for comment, sent outside normal working hours. This story has been amended to state that the production of Lucid's Gravity SUV is scheduled to start at the end of 2024.

Drivers are being 'ill-served by underwhelming EVs,' says boss of Tesla rival Lucid 

<ul class="summary-list"><li>Warner Bros. Discovery says it will beef up ads on its Max streaming service.</li><li>Max serves fewer ads per hour compared to other streaming platforms.</li></ul>You could soon see more ads on <a target="_blank" class="" href="https://www.businessinsider.com/warner-bros-discovery-merger-compete-netflix-disney-streaming-david-zaslav">Warner Bros. Discovery</a>'s Max streaming service.WBD said Thursday it would step up ads in <a target="_blank" class="" href="https://www.businessinsider.com/warner-bros-discovery-announces-details-of-new-streamer-max-2023-4">Max</a> as it — along with other media players — looks to improve the profitability of its <a target="_blank" class="" href="https://www.businessinsider.com/streaming-strategy-spend-billions-wrong-netflix-disney-paramount-warner-bros-2023-2">streaming business</a>.In response to a question about the future of its streaming ads business, streaming chief JB Perrette said it was the "very early innings of what we call ad scale.""On the ad load side, we are light," Perrette said during the company's third-quarter earnings call. "We have a very light ad load compared to everyone else in the market, so there's room to grow on the capacity side."Max had 3.4 minutes of ads per hour as of the fourth quarter of 2023, which was <a target="_blank" class="" href="https://www.businessinsider.com/warner-bros-discovery-announces-details-of-new-streamer-max-2023-4">lower than most of the other streamers</a>.Perrette said Max would continue to take a lighter touch when it comes to its prestigious HBO content, however. Last year, it <a target="_blank" href="https://www.businessinsider.com/warner-bros-discovery-planning-streaming-ads-on-hbo-originals-2022-12">introduced pre-roll and sponsorship ads</a> to HBO shows but refrained from inserting ads in the middle of shows.Perrette also said Max is still in the early stages of selling its ad-supported tier and introducing new ad formats."On the pricing and ad capacity side, we're very early in terms of ad format innovation to drive more creative formats for partners and marketers to work with us," he said. "So those three levers are going to provide a great amount of scale, so I think we're in early innings in the advertising revenue growth stream."One of the big appeals of streaming initially was that it offered ad-free viewing. All the major streamers now have ad tiers, and while they started with a low number of ads per hour, ad loads are expected to creep up over time to make the numbers work. The newest player in streaming ads, <a target="_blank" href="https://www.businessinsider.com/amazon">Amazon,</a> recently said it would increase its ad load in Prime Video after <a target="_blank" href="https://www.businessinsider.com/amazon-prime-video-preview-shake-up-tv-ad-marketplace-2024-1">rolling out ads to the service in January.</a>Media players are still cognizant of not going back to the days of cable, though, where the ad loads can be twice that of streaming — or more."As others add a lot of inventory, we really like the idea that we're not doing that. You're not going to be interrupted watching 'House of the Dragon' or 'White Lotus,' at least for the foreseeable future," WBD president and CEO David Zaslav said on Thursday's earnings call. "We think part of the quality is the quality of the experience."Execs didn't give a timeframe for the changes. It's possible it'll wait until it names a new ad sales chief. The role is currently held by Jon Steinlauf, <a target="_blank" class="" href="https://www.businessinsider.com/jon-steinlauf-wbd-top-ad-salesman-to-leave-internal-memo-2024-10">who's set to leave the company by year's end</a>.WBD <a target="_blank" class="" href="https://www.businessinsider.com/warner-bros-discovery-announces-details-of-new-streamer-max-2023-4">rolled out Max</a> in 2023 with ad-supported and ad-free tiers, combining HBO's premium content and originals like "Succession" with Discovery+'s reality programming like "90-Day Fiancé" and Warner Bros. films and the DC Universe.For the third quarter, WBD reported Max had its strongest quarterly gain in subscriptions since launching, adding 7.2 million subscribers for a total of 110.5 million. It also reported streaming profits of $289 million, up from $111 million in the year-ago quarter.Still, Max is a minor player in streaming, capturing just 1.2% of monthly streaming TV time in September, tied with Paramount+ and ahead only of Pluto TV, according to <a target="_blank" href="https://www.nielsen.com/data-center/the-gauge/">Nielsen</a>. Rival Netflix, by comparison, added 5.1 million subscriptions in its most recent quarter and now has 282.7 million subscribers in total.

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