Fancy eating your dinner at 5pm? How the early bird became cool thanks to Gen Z
It's 5pm on a Thursday, and tech account executive Tess Coghlan is about to head out for dinner with work pals in Dublin city centre.
The booking has been made for 5.30, barely 30 minutes after the popular Chinese restaurant opens its doors for the night, but to Coghlan and pals, that's part of the appeal.
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RTÉ News
an hour ago
- RTÉ News
Trump weighs taking stake in Intel, Bloomberg News reports
The Trump administration is in talks with Intel to have the US government potentially take a stake in the struggling chipmaker, Bloomberg News reported today, citing people familiar with the plan. Such a move would mark another intervention by US President Donald Trump in industries seen as vital to national security. Trump has pushed for multibillion-dollar government tie-ups in semiconductors and rare earths - for instance, a pay-for-play deal with Nvidia and an arrangement with rare-earth producer MP Materials to secure critical minerals. Intel declined to comment on the report but said it was deeply committed to supporting Trump's efforts to strengthen US technology and manufacturing leadership. White House spokesman Kush Desai said: "Discussion about hypothetical deals should be regarded as speculation unless officially announced by the administration." Intel's shares surged over 7% in regular trading and then another 2.6% after the bell on Wall Street last night. The discussions follow a meeting this week between Trump and Intel CEO Lip-Bu Tan. That meeting came days after Trump publicly demanded that Tan resign over his investments in Chinese tech companies, some linked to the Chinese military. Details of the stake and price are still being discussed, Bloomberg said. Ryuta Makino, an analyst at Intel investor Gabelli Funds, said it was likely that the US government would take a stake in Intel because Trump wants the chipmaker to expand domestic manufacturing and to create more jobs. Intel warned last month that it may have to get out of the chip manufacturing business if it does not land external customers to make chips in its factories. It planned to slow construction work on new factories in Ohio. Tan, who took the top job just over six months back, has been tasked to undo years of missteps that left Intel struggling to make inroads in the booming AI chip industry dominated by Nvidia, while investment-heavy contract manufacturing ambitions led to heavy losses. "I think any deal that involves the US, as well as third-party investors (PE) likely has to come with tariffs that strongly encourage customers like Nvidia, AMD, Apple to use Intel Foundry," said Ben Bajarin, CEO of market analysis firm Creative Strategies. It is not unusual for the US government to take a stake in a company, but those have usually needed financial help. Though Intel's stock market value has tumbled in recent years and it has lost its industry leadership, its revenue remains stable at over $50 billion a year, and it was not clear to some investors that the chipmaker needs such direct government assistance.
RTÉ News
3 days ago
- RTÉ News
Oil steadies as US, China announce tariff extension
Oil prices were broadly steady today as the United States and China extended a pause on higher tariffs, easing concerns an escalation of their trade war would hit oil consumption. Brent crude futures lost 2 cents to $66.61 a barrel by 0904 GMT, while US West Texas Intermediate crude futures eased 10 cents, or 0.2%, to $63.86. US President Donald Trump extended a tariff truce with China to November 10, staving off triple-digit duties on Chinese goods as US retailers prepared for the critical end-of-year holiday season. This raised hopes that an agreement could be attained between the world's two largest economies and avert a virtual trade embargo between them. Tariffs risk slowing global growth, which could sap fuel demand and drag oil prices lower. Oil's gains have also been supported by fresh signs of softness in the US labour market, which have boosted expectations for a Federal Reserve rate cut in September, said Priyanka Sachdeva, senior market analyst at brokerage Phillip Nova. Also on the radar is US inflation data later in the day, which could shape the Fed's rate path. Interest rate cuts typically boost economic activity and oil demand. Potentially weighing on the oil market, Trump and Russian President Vladimir Putin are due to meet in Alaska on Friday to discuss an end to the war in Ukraine. The meeting comes as the US steps up pressure on Russia, with the threat of harsher penalties on Russian oil buyers such as China and India if no peace deal is reached. Trump set a deadline of last Friday for Russia to agree to peace in Ukraine or have its oil buyers face secondary sanctions, while pressing India and China to reduce purchases of Russian oil. "If Friday's meeting brings a ceasefire or even a peace deal in Ukraine closer, Trump could suspend the secondary tariffs imposed on India last week before they come into force in two weeks," Commerzbank said in a note. "If not, we could see tougher sanctions against other buyers of Russian oil, like China".
Irish Examiner
3 days ago
- Irish Examiner
US and China extend trade truce for another 90 days
US President Donald Trump has extended a trade truce with China for another 90 days, delaying once again a dangerous showdown between the world's two biggest economies. Mr Trump posted on his Truth Social platform that he signed the executive order for the extension, and that 'all other elements of the Agreement will remain the same'. Beijing at the same time also announced the extension of the tariff pause, according to the Ministry of Commerce. The US has realised it does not have the upper hand The previous deadline was set to expire at 12.01am on Tuesday. Had that happened the US could have ratcheted up taxes on Chinese imports from an already high 30%, and Beijing could have responded by raising retaliatory levies on US exports to China. The pause buys time for the two countries to work out some of their differences, perhaps clearing the way for a summit later this year between Mr Trump and Chinese President Xi Jinping, and it has been welcomed by the US companies doing business with China. China said on Tuesday it would extend relief to American companies who were placed on an export control list and an unreliable entities list. After Mr Trump initially announced tariffs in April, China restricted exports of dual-use goods to some American companies, while banning others from trading or investing in China. The Ministry of Commerce said it would stop those restrictions for some companies, while giving others another 90-day extension. Reaching a pact with China remains unfinished business for Mr Trump, who has already upended the global trading system by slapping double-digit taxes – tariffs – on almost every country on earth. The EU, Japan and other trading partners agreed to lopsided trade deals with Mr Trump, accepting once unthinkably US high tariffs (15% on Japanese and EU imports, for instance) to ward off something worse. US President Donald Trump speaks with reporters in the James Brady Press Briefing Room at the White House (Alex Brandon/AP) In June, the US and China reached an agreement to ease tensions. The US said it would pull back export restrictions on computer chip technology and ethane, a feedstock in petrochemical production, and China agreed to make it easier for US firms to get access to rare earths. 'The US has realised it does not have the upper hand,' said Claire Reade, senior counsel at Arnold & Porter and former assistant US trade representative for China affairs. In May, the US and China had averted an economic catastrophe by reducing massive tariffs they'd slapped on each other's products, which had reached as high as 145% against China and 125% against the US. Those triple-digit tariffs threatened to effectively end trade between the US and China and caused a frightening sell-off in financial markets. In a May meeting in Geneva, America's tariffs went back down to a still-high 30% and China's to 10%. Ms Reade does not expect much beyond limited agreements such as the Chinese saying they will buy more American soybeans and promising to do more to stop the flow of chemicals used to make fentanyl and to allow the continued flow of rare-earth magnets. But the tougher issues will likely linger, and 'the trade war will continue grinding ahead for years into the future', said Jeff Moon, a former US diplomat and trade official.
