EXCLUSIVE Jackie Kennedy's 'Champagne glass' revenge against blonde mistress JFK bedded inside the White House... while the First Lady's own MOTHER was present
A new biography claims the First Lady tolerated her husband President John F. Kennedy's trysts with socialite Mary Meyer, reasoning that their intimacy wasn't a true affair.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Telegraph
8 minutes ago
- Telegraph
Trump hands Miliband a surprise boost in net zero quest
Donald Trump's plan for a 50pc tariff on copper is designed to turbocharge the American metals industry and safeguard supplies for the US military. But there is another, more surprising winner from the president's levy: Ed Miliband. Trump's proposed tariffs have rocked global markets, prompting copper miners to think again about sending any more shipments to America this year. This means if he goes through with his 50pc levy, he will inadvertently funnel a torrent of copper on to the London Metals Exchange (LME), driving down prices in the process. That's good news for the Energy Secretary, as copper is one of the most important materials in the renewables industry, where it is used in everything from wind turbines to electric cars and solar panels. 'The market still hasn't been able to react to the full detail, and we've got potentially three weeks until the tariffs come in,' says Morgan Stanley commodities strategist Amy Gower. 'But potentially, as time passes, the LME price probably does need to come down.' Capital Economics reckons the price of copper traded in London could fall by 6pc over the remainder of the year, potentially sliding by up to 11pc by the end of 2026. Based on Britain's annual consumption of about a quarter of a million tonnes, this could slash the country's copper bill by more than £200m. Crucially, it will also help the green energy industry secure savings worth tens of millions of pounds. An offshore wind farm needs up to eight tonnes of copper per megawatt of power produced, while a solar farm needs 2.8 tonnes. Even a single electric vehicle needs about 80kg. As a result, the Trump-induced market ructions open a window for the UK renewables industry to move fast and gain a financial upper hand. However, the opportunity won't last long. By the end of the decade, an expected crunch in the copper market will kick in and looks set to usher in a potentially punishing cost squeeze on Britain's net zero transition. Although the price will climb in the long term, it will drop for the time being because of a quirk in the market. Copper is traded in three locations: in the UK, on the LME; in the US, on the Comex market; and in China, at the Shanghai Futures Exchange, or SHFE. The price varies in each market, responding to different dynamics in each region. The Comex price is inclusive of any taxes or levies, meaning that ever since Trump flagged a potential 25pc tariff on copper in February, traders have been trying to capitalise. If they bought on the LME after February and can then sell on to the Comex market once the proposed tariff comes in, they stand to make hefty profits. 'A lot of traders were basically taking as much metal to the US as they could, getting it in-country, then waiting for the tariffs to come in and the Comex price to jump,' says Alice Fox, a commodities strategist at Macquarie Group. About 15,000 tonnes of copper is normally shipped to the US each week, but almost three times that amount has been sailing towards America in recent months. In the first six months of this year, US buyers hoovered up an estimated 881,000 tonnes of copper, which Macquarie estimates was almost double what American buyers actually needed. This has left the rest sitting in stockpiles, waiting for the tariff to kick in. Copper held in Comex-registered warehouses more than doubled in the second quarter, and now exceeds the stock held in the LME and SHFE combined. Last year, the Comex holdings were typically only about 10pc of the London-Shanghai stockpile. The dash to send copper to the US meant there was less to go around for everyone else, pushing up prices on the LME. 'Basically, any available metal that wasn't Chinese and wasn't Russian has headed to the US,' says Fox. 'If you look at country-of-origin data for LME, virtually all of it is now Russian and Chinese.' The threat of 50pc tariffs has changed all of that. Once Trump actually imposes the tariff, the opportunity for traders to make instant profits will come to a screeching halt. Already, traders are trying frantically to get incoming vessels into American ports before August 1, which is when copper tariffs will take effect. Sellers will then spend the next six to nine months unloading their US inventory rather than looking for new stock. 'This will likely improve the availability of copper, ex-US, with more copper showing up in LME warehouses, which would weigh on LME copper prices,' Ewa Manthey, a commodities strategist at ING, said in a note. The reprieve in copper prices is unlikely to last long, however. According to the International Energy Agency, soaring appetite from data centres, renewables and EVs means that by 2035, global copper demand will be almost one third higher than supply. The squeeze is widely expected to drive up prices, which has already triggered mining companies into a worldwide rush to buy up promising tenements and open new mines. But fewer and fewer viable mine sites are being discovered. And even when a miner strikes it lucky, the time lapse between discovery and production is typically 17 years. So the scramble is heating up. 'We're really focused on the fundamentals of the market,' one mining executive says. 'What Trump is doing doesn't change the big picture. It's really important not to get distracted by the noise.' But there is also a way in which Trump's tariff could soften or delay the worst of the impending shortfall. The US consumes about 1.7m tonnes of copper a year. But it only produces half that, topped up with 150,000 tonnes extracted from scrap. So the country needs to import more than 800,000 tonnes annually. There is no chance the US can stand up new mines, smelters and refineries during the remainder of Trump's second term. So, unless Chilean copper is awarded a tariff exemption, America risks a significant price hit. Economists are expecting what they call 'demand destruction', meaning industry will respond to tariffs by finding ways to restrict how much they need to buy. In some cases, such as high-voltage wires, aluminium can be a substitute. There will also be a stampede for scrap to recycle, and with it a likely increase in copper theft, already a periodic and painful problem when prices spike. If US demand does fall, the supply boost into the rest of the world might remain higher for longer. That could keep prices a bit lower for more time, putting off the inevitable pain point that is on its way. Miliband may not have much time for Trump's politics and policies. But for now, he may have a reason to thank him.
Daily Mail
27 minutes ago
- Daily Mail
Trump lets Nvidia sell its AI chips to China
Donald Trump has granted permission for America's most valuable company to sell its AI chips to China , in a surprise move amid trade war tensions. Jensen Huang, founder of $4 trillion artificial intelligence firm Nvidia , has said he received assurances from the government that he can market the chips in Beijing. 'I'm very happy,' Huang told reporters during a visit to the Chinese capital where he met with senior officials, according to the Wall Street Journal , as Nvidia shares rose more than four percent in pre-market trading on Tuesday. The product, known as a H20 chip, is used in cutting-edge data centers which train AI models and operate AI applications. It was designed for Chinese customers and was a top seller last year, until Trump's commerce department restricted sales in April, costing Nvidia billions of dollars. However, the catch is that the H20 chip isn't the most advanced AI chip Nvidia sells, and the company is still being held back from selling its best technology in China. This is due to fears that granting full access to America's most cutting-edge technology to the superpower could pose a national security risk. Huang said Nvidia would resume deliveries of the H20 chip in China once the Commerce Department processes the company's export license for it. The Trump administration is also considering granting permission for other AI chip manufacturers, including Nvidia competitor Advanced Micro Devices (AMD) to resume sales in China. 'We were recently informed by the Department of Commerce that license applications to export MI308 products to China will be moving forward for review,' AMD founder Patrick Moorhead announced on X. 'We plan to resume shipments as licenses are approved. We applaud the progress made by the Trump administration in advancing trade negotiations and its commitment to US AI leadership.' Huang said Nvidia has also developed a new AI chip for use in Chinese factory automation and logistics. The chip uses Nvidia's most advanced set-up - called Blackwell architecture - but it has been downgraded in some ways to address US officials' concerns about exports to China, sources told the WSJ. Ahead of Huang's trip to Beijing, US Senators Jim Banks (R., Ind.) and Elizabeth Warren (D., Mass.) penned a letter to Huang asking him to refrain from meeting with companies which are working with military or intelligence firms in China. 'We are worried that your trip to the PRC could legitimize companies that cooperate closely with the Chinese military or involve discussing exploitable gaps in the U.S export controls,' the senators wrote. 'We request that you refrain from meeting with representatives of any companies that are working with the PRC's military or intelligence establishment, are named on the Entity List, or are suspected to have engaged in activities that undermine export controls.' 'There is a new bipartisan consensus that the hardware powering advanced AI, which includes NVIDIA graphics processing units (GPUs), is of immense strategic importance,' the letter added. 'If exported freely to the PRC, this hardware could accelerate the PRC's effort to modernize its military.' The letter added that Nvidia's chips could be used by Chinese companies, including DeepSeek, to smuggle sensitive technology in violation of US law. 'We hope you will agree that it would be deeply irresponsible for an American CEO to meet with companies that violate U.S. law and are actively developing military capabilities that could undermine U.S. national security,' the senators said. The surprise move by the Trump administration to allow Nvidia to sell the H20 chips on Beijing's markets comes amid ongoing trade tensions between the US and China. China and the US have been tussling over rare earth metals which are used to make magnets, defense products and electronics, since 2018. The tensions ramped up this year when Trump increased tariffs on China by 10 percent during his first weeks back in the White House. Chinese leader Xi Jinping responded with a 15 percent tariff on coal and liquified natural gas products, and various tariffs on machinery and cars. The tit-for-tat tariffs escalated over several weeks, until May 12, when the superpowers agreed to reduce tariffs in an effort to de-escalate the trade war. On June 11, the White House said a trade deal with China had been reached , with baseline tariffs set at 10 percent by China and 30 percent by the US. Both countries made concessions, with the US agreeing to resume accepting Chinese students into American colleges, and China to resume shipments of rare earths.
The Guardian
27 minutes ago
- The Guardian
Trump suggests first lady's role in changing his view of Putin over Ukraine
After Donald Trump threatened Russia with secondary tariffs of 100% if there was no progress on a Ukraine peace deal within 50 days, he spoke about the role his conversations with Melania Trump had had in highlighting Vladimir Putin's duplicity about the war. The US president said: 'My conversations with him are always very pleasant ... But what I do say is that at a certain point, you know, ultimately talk doesn't talk. It's got to be action'
