The setup ahead of the next Fed meeting is gaining attention as key members express differing views on inflation and monetary policy. With Austan Goolsbee possibly joining as a voting member in July, his dovish stance on rate cuts contrasts with Christine Lagarde’s cautious approach. Goolsbee’s emphasis on CPI versus PCE inflation highlights the complexities of driving policy decisions. Meanwhile, Lagarde’s concerns about future inflation uncertainties suggest a more measured response post the recent rate cut. Amidst these discussions, oil prices are soaring, with WTI hitting a 2 1/2 month high while gold markets show signs of manipulation. As the global economic landscape continues to evolve, the deliberations at the Fed meeting are poised to impact financial markets worldwide.
UK General Election Health Pledges: Labour, Conservatives, Liberal Democrats, Reform UK, and Greens Battle for NHS Reform
The general election is just around the corner, and with health services at the forefront of voters’ concerns, each political party has put forward their plans and promises for the NHS. Public dissatisfaction with the health service, compounded by the impact of the Covid pandemic, has reached record lows. Labour, led by Sir Keir Starmer, aims to address NHS waiting lists, improve maternity care, and invest in mental health services. The Conservatives have pledged to increase dental appointments, reduce cancer waiting times, and upgrade GP surgeries. The Liberal Democrats, under Sir Ed Davey, are prioritizing mental health support and faster GP access. Nigel Farage’s Reform UK proposes tax relief for private healthcare, while the Greens are focused on significantly increasing the NHS budget. To help voters navigate these pledges, MailOnline has created an interactive chart displaying each party’s proposed health policies.
AI Writer at Wimbledon Makes Errors on First Day, Concerns Raised, China
An artificial intelligence writer, designed to update from Wimbledon has published a series of factual errors on the first day of the tournament.
According to reports, the tournament’s new online feature, Catch Me Up, which publishes pre- and post-match player profiles with AI-generated stories and analysis, is reported to have made a series of errors on the first day of the championships.
The new offering on Wimbledon’s app and website reportedly described the former US Open champion Emma Raducanu as the British No 1, although she is the No 3. The 21-year-old who grew up in Bromley was also described as having won 11 matches so far this year, when she has had 14 triumphs.
It also described a clash between 35-year-old Zhang Shuai, a two-time doubles grand slam champion from China who is on a losing streak, and Russia’s Daria Kasatkina, 27, as an ‘eagerly anticipated encounter between two up-and-coming players’.
Some of the errors appeared to have been corrected after they were flagged by users on social media.
Wimbledon lauded the new feature created with the tech company IBM at an event last month.
A spokesperson for the All England Club said on Monday: The Catch Me Up feature is a first-of-its-kind pilot within sport, delivered in partnership with IBM. This AI innovation will naturally continue to evolve as the system’s capability builds, with the assistance of human checks.
This feature complements the traditional breadth of rich editorial content created by our team of writers who provide in-depth coverage of the championships for audiences around the world.
The news comes after Wimbledon faced criticism last year after trialled AI-powered commentary and captions in its online highlights videos, which has been scrapped this year.
But technology experts warned that unchecked AI can have serious ramifications when tasked with publishing important information.
John Kirk, Deputy CEO at ITG said: AI is set to play a crucial role in all aspects of our daily lives, and this example is a stark reminder that its function should be to support, not replace human creativity and talent. Whether the task is live analysis, copywriting, or generative image creation, this technology should be used proportionately to improve services but without external input it could well be prone to error.
Meanwhile, Will Sargeant, UK General Manager at AND Digital said: The race to implement the latest AI technologies requires careful management, especially when it comes to fact-checking content before it goes live to the public. While the technology will undoubtedly speed up the creation of content, this approach needs to be closely supported by human intervention and digital expertise.
AI expert Libero Raspa, Director of adesso UK added: This example underlines the importance of deploying a blended approach to AI adoption, combining human experience and expertise alongside the efficiency of the technology. Used correctly, it can bring fantastic benefits to tournaments like Wimbledon, but having human expertise in place is crucial to ensure quality and high standards of output at all times.
German Aerospace Startup ISPTech Secures €2M Funding for Green Propulsion Technology, Germany
Lampoldshausen-based InSpacePropulsion Technologies (ISPTech), a spin-off from the German Aerospace Center (DLR), announced the closing of its €2 million pre-seed round. The round is led by HTGF and backed by co-investments of First Momentum Ventures and Possible Ventures, three renowned deep-tech investors. The investment will be used to make ISPTech’s propulsion technologies ready for its first customers and spaceflight.
The acquired funding will be used to further develop the propulsion technology to achieve qualification for space flight and serve initial customers. ISPTech’s technology will be used on first flights at the end of 2025. These missions will demonstrate the operationality, robustness and performance of ISPTech’s propulsion systems and space qualify the propulsion system for wider market adoption.
ISPTech is addressing a key challenge that satellite manufacturers and operators face, by developing innovative propulsion systems based on non-toxic, so-called green propellants. This approach allows significantly reduced overall costs, rapid availability and simplifies spacecraft operations. The propulsion systems offer superior performance compared to the current green propulsion market standard. With its solutions, ISPTech addresses any spacecraft, from small CubeSats to large satellites, capsules or landers.
Current in-space propulsion systems are expensive, complex and operate with highly toxic propellants. These toxic propellants cause extensive handling efforts, which complicate and slow down the development and qualification process of propulsion systems, besides increasing the overall costs. In addition, alternative solutions currently on the market either lack performance or operational simplicity. These key challenges ISPTech has overcome: based on more than 10 years of R&D work at the German Aerospace Centre (DLR), ISPTech’s founders developed advanced propulsion technologies that work with green propellants.
The founders of ISPTech Felix Lauck and Dr. Lukas Werling said in a joint statement: We spent many years researching propulsion technologies, testing the products of our current competitors and working with many of our future customers. During all these times, we saw a clear and large market demand for affordable, quickly available, and robust propulsion technologies. Our mission now is to meet this demand.
The space market is expected to grow 7% per year and thus has a high demand for affordable, quickly available and reliable propulsion solutions. By using its advanced technologies, ISPTech will satisfy this demand and propel the whole space ecosystem.
ISPTech already showed a fast pace and made significant progress: after its foundation in summer 2023 first paying customers were acquired, a paid flight into space was won and the first thrusters were qualified for space. Furthermore, major space players emphasized their interest in the technologies.
Dr. Koen Geurts, Investment Manager at HTGF, commented: The satellite market growth in the next decade and the increasing need for space debris avoidance manoeuvres will see a huge demand for chemical propulsion systems, especially non-toxic solutions, democratizing access to space. ISPTech is the only startup offering solutions from below 1N to 1kN with high TRL and exceptionally positioned to set a new market standard.
Dr. Maximilian Ochs, Investor at First Momentum Ventures, said: Over the next ten years, we anticipate an increasing demand for in-space manoeuvres that can only be facilitated by chemical propulsion. ISPTech is in a prime position to become the European leader in non-toxic chemical propulsion. Their systems are already way ahead of the competition in terms of performance, stability, and robustness.
Dr. Christoph Baumeister, Principal at Possible Ventures, added: As the space economy expands, the demand for reliable, eco-friendly, and cost-effective chemical propulsion systems becomes indispensable. ISPTech’s innovative approach and European engineering excellence positions them as the frontrunner, and we are proud to support their mission.
Daxinjie Night Market: Cultural Charm in Xining, China
The diverse and distinctive night markets across China brim with activity on summer evenings, showcasing their vigorous urban and cultural charm.
The Daxinjie night market in Xining, the capital city of northwest China’s Qinghai Province, brings together more than 800 businesses featuring catering, leisure, entertainment, tourism, shopping, and cultural and artistic activities.
It is encouraging to note that this night market also serves as a window to the splendid traditional culture and distinctive local characteristics of Xining. The well-designed intangible cultural heritage exhibition areas and various cultural infrastructures allow tourists to read books, buy cultural and creative products, and fully enjoy its cultural charm.
Represented by the Daxinjie night market, the rising night markets in China align with the lifestyle habits of people in cities, opening a new chapter in developing the night economy through unique cultural advantages, and injecting new impetus into urban consumption.
Highly-Anticipated Gladiator 2 Sequel Starring Paul Mescal and Pedro Pascal Unveiled, US
Gladiator 2, featuring Paul Mescal and Pedro Pascal, takes place years after the original film, following the death of Maximus, played by Russell Crowe.
After 24 years, fans of Gladiator are finally getting the first glimpse of the highly awaited sequel. Gladiator 2 brings Paul Mescal into the spotlight as Lucius, against Pedro Pascal’s Roman general, Marcus Acacius. Denzel Washington joins the cast as Macrinus, while Connie Nielsen returns as Lucilla, Lucius’ mother. The sequel takes place years after the original film, following the death of Maximus, played by Russell Crowe. Although Pascal’s character didn’t appear in the first movie, he will play one of the central characters in the new story. Ridley Scott’s film promises to show Lucius’ journey back to Rome as a gladiator, where he faces a new enemy and reconnects with his mother.
Derek Jacobi is also returning to reprise his role as Senator Gracchus, Stranger Things star Joseph Quinn will play the Roman Emperor Caracalla, while Fred Hechinger steps into the shoes of Emperor Geta, replacing the Saltburn star Barry Keoghan. At the moment, it’s unclear if Joaquin Phoenix or Crowe will appear in flashbacks or dream sequences. However, the main story will focus on the new cast, especially on Mescal’s character, who is expected to be the central highlight of the film.
In a conversation with Vanity Fair, Paul Mescal spoke about how he landed the lead role in Gladiator 2 and explained, It happened fast. We spoke for about 20 to 30 minutes. I wanted to get a flavour from him (director Ridley Scott) about what the story was going to be about, so we spent about 15 minutes talking about that and then we spent another 10 minutes talking about the sport that I played growing up, Gaelic football. Maybe that was something that helped with it, in that I’m used to being physical in my body. Two or three weeks later, the offer came in.
Talking about playing Marcus Acacius, Pedro Pascal said, This movie has an identity that is shaped by his legacy. It wouldn’t make sense for it not to. The Mandalorian star describes Acacius as a fighter who learned from the best, so of course this code of honour is ingrained into his training and into his existence. But at the end of the day, he’s a different person. And that can’t change who he is. Maximus is Maximus, and that can’t be replicated. That just makes Acacius capable of different things.
Directed by Ridley Scott, Gladiator 2 is scheduled to release on November 22, 2024.
56-Year-Old Army Major General Stuns with 25 Pull-Ups in One Minute, India
An inspiring video of a 56-year-old Army Major General performing 25 pull-ups in one go under one minute goes viral on the internet. The recording has gathered the attention of a large number of people since it aired. Netizens are influenced by his fitness and are leaving numerous comments applauding the strength and health of the Major.
The viral video features Major General Prasanna Joshi (56) motivating people with his physical strength by performing 25 pull-ups with no breaks and more importantly he finishes his exercise within one minute, stamping his fitness and athleticism.
The video was posted by a user on his account with the caption, Salute and respect to the physical fitness of Major General Prasanna Joshi of the Indian Army. No wonder the Indian Army Has been rated as the finest fighting force in the world by the German publication Statista in October 2022. Proud of the Indian Army. Jai Hind.
In the video, Mr Joshi is seen performing pull-ups in a gym wearing his uniform while other Army personnel are seen doing countdowns and encouraging him. As soon as the Major finished his pull-ups the room was filled with loud applause, appreciating his commitment and strength.
The recording had received over 1 lakh views digitally with over 800 reposts, more than 4000 likes, and several comments.
Netizens were inspired by the work dedication, fitness, and commitment of Major Joshi and flooded the comment section with praises and applause.
Here are some of the reactions from the viewers:
Wonderful, I salute Maj Gen Joshi and Indian Army.. what a great example to people of all ages! And what a great habit for life- pull-ups are a wonderful. I wish Maj Gen Joshi long life and great health and fitness. Thank you for sharing, Sir!
And after doing 25 push ups like walking in the park, he still has his uniform shirt tucked in properly.
Absolutely beautiful. That’s what real fitness looks like. Kudos to the real heroes.
Definitely an inspiration for the young generation..!! Salute sir!
UN Resolution Pushes Equitable AI Access for Developing Countries, China
The United Nations General Assembly adopted a Chinese-sponsored resolution with US support urging wealthy developed nations to close the widening gap with poorer developing countries and ensure that they have equal opportunities to use and benefit from artificial intelligence. The resolution approved Monday follows the March 21 adoption of the first UN resolution on artificial intelligence spearheaded by the United States and co-sponsored by 123 countries including China. It gave global support to the international effort to ensure that AI is safe, secure and trustworthy and that all nations can take advantage of it.
Ajax Engineering Launches AI-driven Platform for Construction Industry in Multiple Languages, India
New Delhi, Jul 2 (PTI) – Concreting equipment manufacturer AJAX Engineering has introduced Concrete GPT, an AI-driven platform catered to the concrete and construction sector. Available in multiple languages, including English, Hindi, Telugu, Marathi, and Kannada, the platform offers expert-validated technical insights, market updates, and regulatory information for industry specialists. Concrete GPT utilizes OpenAI’s GPT-4 model and the Perplexity engine to enable user engagement through chatbot, voice prompts, and WhatsApp chat functionalities. AJAX Engineering’s MD and CEO, Shubhabrata Saha, expressed confidence that the platform will facilitate continuous learning and upskilling among industry professionals.
Manhattan Home Sales Surge as Buyers Jump In Amidst Rising Interest Rates, US
Manhattan home sales rose for the first time in two years as impatient buyers who had been waiting for interest rates to fall took the plunge.
Closings of co-ops and condos spiked 12.2% in the borough in the three months through June from the same period in 2023, according to appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. While the median price of $1.18 million in the quarter dipped slightly from a year earlier, it was still hovering near a record since rates soared in mid-2022.
Buyers aren’t willing to wait anymore even though rates haven’t cooperated, said Jonathan Miller, president of Miller Samuel, who called the increase in sales unexpected. Some may have been driven by family or other personal needs, he said, while others could have begun planning for a purchase last year — when many experts predicted the Federal Reserve would have cut interest rates by now — and stuck with their plans even as rates hovered around 7%.
The US real estate market has been largely frozen for more than a year, with the highest mortgage rates in decades causing a lack of new inventory that has kept values elevated. The Manhattan data suggests buyers may be viewing this period as a good time to make a move — before any Fed cuts increase demand and potentially boost prices.
In a sign of buyers’ acceptance of higher interest rates, sales with mortgages rose from a year ago by a larger percentage, 15.1%, than those conducted in cash, which increased 10.6%.
Meanwhile, about 27% of the deals in the second quarter came after at least one price drop, down from roughly 35% in the previous four quarters.
Listings entering the market are more in sync with current conditions, Miller said.
Until rate cuts, though, the busier Manhattan market may be short-lived. The 698 contracts signed in June were a nearly 14% decline from the same month last year and 10% fewer homes were listed.
