Starmer and Merz Ink Treaty Locking in Cooperation on Defense
Conservative leader Merz has made clear his regret over Britain quitting the European Union and is keen to deepen German-UK cooperation. Starmer said the pact would 'bring the UK and Germany closer than ever' as they confront challenges like Donald Trump's trade onslaught and Russia's war on Ukraine.
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Charter Communications, Tesla, Volkswagen: Trending Tickers
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The Hill
29 minutes ago
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Trump's trip to Scotland: What to know
President Trump departed Friday for a five-day stay in Scotland, where he is expected to meet with British and Scottish officials and visit his properties there. The White House has described the trip as a 'working visit,' pointing to planned discussions with British Prime Minister Keir Starmer about a trade agreement between the U.S. and the United Kingdom. But Trump will visit his properties at Turnberry and Aberdeen, giving a publicity boost to his personal golf courses and his family's brand while overseas. Here's what to know about Trump's visit. Talking trade with the UK Trump told reporters while leaving for Scotland that he would be meeting with United Kingdom Prime Minister Keir Starmer on Friday evening, expecting that the two will work through more aspects of the trade deal they struck in May. 'We're meeting with the prime minister tonight. We're going to be talking about the trade deal that we made and maybe even approve it,' Trump said. He added, 'we want to talk about certain aspects, which is going to be good for both countries. More fine-tuning. Also, we're going to do a little celebrating together, because, you know, we got along very well. U.K.'s been trying to make a deal with us for like, 12 years, and haven't been able to do it. We got it done, and he's doing a very good job, this prime minister. Good guy.' Last month, Trump and Starmer detailed the trade agreement together while at the Group of Seven (G7) summit in Canada after they first announced it in May. The deal includes 'billions of dollars of increased market access for American exports, especially for beef, ethanol, and certain other American agricultural exports,' according to the order, and includes a stipulation that the U.S. will create an annual quota of 100,000 cars for U.K. imports at a 10 percent tariff rate. It also stipulates that the U.K. remains committed to 'working to meet American requirements on the security of the supply chains of steel and aluminum products,' which would prompt the U.S. to 'promptly construct a quota at most-favored-nation rates for steel and aluminum articles.' The U.K. agreement was the first trade deal announced since Trump imposed tariffs on trading partners, although it was in the works before then. This week, Trump has also announced deals with Japan, Indonesia and the Philippines and the administration has continued talks with the European Union. In addition to meeting with Starmer, Trump is slated to meet with First Minister of Scotland John Swinney during his visit. 'We have a lot of things in Scotland,' Trump said. 'I have a lot of love, my mother was born in Scotland. And he's a good man.' Spotlight on Trump's properties and possible protests While the White House has billed Trump's trip as a working visit to Scotland, critics have highlighted how the president is once again mingling politics with his business interests. Trump owns two golf courses in Scotland— one in Aberdeen that opened in 2012, and one at Turnberry that opened in 2014. He is slated to celebrate the opening of a third on the trip. The new 18-hold course is outside of Aberdeen and will be named after his mother, Mary Anne MacLeod, who was born in Scotland. Ethics watchdogs and Democrats have accused Trump of blatantly profiting off of the presidency, pointing to the launch of a cryptocurrency, Trump-branded sneakers and Bibles and a line of fragrances, among other ventures. Visits to Trump properties tend to generate scrutiny, as the government pays for Secret Service and other White House staff to stay there as well. Trump is also expected to be greeted with protests during his stay in Scotland. 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'People should really focus on how well the country's doing or they should focus on the fact that [former President] Barack Hussein Obama led a coup or they should focus on the fact that [former Treasury Secretary] Larry Summers from Harvard, that [former President] Bill Clinton, who you know very well, and lots of other friends, really close friends of Jeffrey [Epstein] should be spoken about,' Trump said. 'They don't talk about them, they talk about me. I have nothing to do with the guy,' he added. The Trump administration is facing increasing pressure to release more information from the Epstein files after the Justice Department earlier this month released a memo stating that Epstein killed himself and did not keep a client list. Attorney General Pam Bondi had previously said such files were on her desk. 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Gizmodo
29 minutes ago
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Intel's Steady Decline Continues With 15% Cut to Staff and Scrapped Factory Plans
Intel CEO Lip-Bu Tan told employees in a staff-wide memo yesterday that the company plans to cut its workforce by roughly 15%—more than 25,000 jobs—aiming to end the year with about 75,000 employees worldwide. The cuts are part of the struggling chipmaker's efforts to turn things around and compete in the booming AI market. Intel isn't alone among Silicon Valley giants making job cuts as AI becomes a bigger priority. Meta announced it was cutting about 5% of its staff in January. Google is offering buyouts. And even Microsoft CEO Satya Nadella addressed in a company-wide memo what he called the 'enigma of success' noting how the company is thriving financially with record profits, yet just laid off 9,000 workers earlier this month But unlike those companies, Intel isn't thriving. The once-dominant chipmaker has stumbled in recent years, missing the smartphone boom and arriving late to the AI race. On Wednesday, it reported its sixth straight quarterly loss. 'I know the past few months have not been easy. We are making hard but necessary decisions to streamline the organization, drive greater efficiency and increase accountability at every level of the company,' Tan wrote in the memo. In addition to the layoffs, Intel is scrapping plans for new factories in Germany and Poland. Tan also said the company would slow construction of a major chip plant in Ohio 'to ensure that spending is aligned with demand.' The Wall Street Journal reported that the facility was originally expected to be completed by the end of this year, but now likely won't be finished until after 2030. At the same time, Intel is going all in on its latest chipmaking technology, Intel 18A. The process is designed to produce advanced chips like Panther Lake, Intel's next-generation microprocessor, expected to launch later this year. Looking further ahead, Tan said Intel will develop its next major process node, Intel 14A, from the ground up in close collaboration with external customers. The idea is to only work on projects that have obvious demand. 'There are no more blank checks. Every investment must make economic sense. We will build what our customers need, when they need it, and earn their trust through consistent execution,' he wrote. As far as its AI ambitions, Intel plans to develop a cohesive stack strategy—not just chips, but also the software and systems to support them. The focus will be on areas where Intel believes it can stand out from more established competitors. One of those is inference, where AI models apply what they've learned to make real-time decisions or predictions. Another is agentic AI, where systems are designed to operate independently and take actions on their own. 'Our starting point will be emerging AI workloads – then we will work backward to design software, systems and silicon that enable the best customer outcomes,' Tan wrote. Whether Intel can pull off this turnaround or if it's just too late remains to be seen.
