Author: News Desk

President Xi Jinping starts historic third term  China’s President Xi Jinping has been granted a historic third term by the country’s rubber-stamp parliament, cementing his status as China’s most powerful leader in decades. While the presidency holds mainly ceremonial duties, Xi’s authority stems from his roles as General Secretary of the Communist Party and Chairman of the Central Military Commission (CMC). The confirmation of his third term was widely expected, with attention now focused on the upcoming appointments of Xi loyalists to key positions. As China faces economic challenges and tense relations with the US, Xi’s centralization of power is…

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Financial stocks take a hit as Silicon Valley Bank shares plummet Shares in Silicon Valley Bank (SVB) dropped sharply on Thursday as investors moved to withdraw their deposits. The drop came after the bank – a key lender to tech start-ups – announced a $1.75bn (£1.5bn) share sale to help bolster its finances. Shares in banks around the world have fallen, with the four largest US banks losing more than $50bn in market value. On Friday, shares in Asian banks were also trading lower. Shares in SVB saw their biggest one-day drop on record after plummeting by more than 60%…

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Today’s news summary – Paper Talk Friday’s front pages lead on the announcement that the HS2 high-speed rail project will be delayed by two years to cut costs. Elsewhere, the government’s controversial migrant bill also features on the front page.  HS2 – betrayal of the north The Daily Mirror reports that the HS2 high-speed rail project will be delayed by two years to cut costs, which it calls a “Huge Shambles 2” and a “betrayal of the North”. The i warns that the delay could jeopardise the government’s “levelling up” plans, while the Daily Express asks “Who’d have thought it?”…

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