Trump, Putin to meet for first time in six years to discuss possible Ukraine ceasefire
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CNA
35 minutes ago
- CNA
Trump weighs taking stake in Intel, Bloomberg News reports
The Trump administration is in talks with Intel to have the U.S. government potentially take a stake in the struggling chipmaker, Bloomberg News reported on Thursday, citing people familiar with the plan. Such a move would mark another intervention by U.S. 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 U.S. 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 per cent in regular trading and then another 2.6 per cent after the bell. 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 U.S. 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 U.S., 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 U.S. 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.
Business Times
an hour ago
- Business Times
Trump vows not to be intimidated ahead of Putin summit
US PRESIDENT Donald Trump insisted on Thursday he would not be intimidated by Russian leader Vladimir Putin on the eve of a high-stakes summit and said Ukraine would be involved in any deal on its fate. Putin flies to Alaska on Friday at the invitation of Trump in his first visit to a Western country since he ordered the 2022 invasion of Ukraine that has killed tens of thousands of people. As Russia made gains on the battlefield, the Kremlin said the two presidents planned to meet one-on-one, heightening fears of European leaders that Putin will cajole Trump into a settlement imposed on Ukraine. Trump insisted to reporters at the White House: 'I am president, and he's not going to mess around with me.' 'I'll know within the first two minutes, three minutes, four minutes or five minutes... whether or not we're going to have a good meeting or a bad meeting,' Trump said. 'And if it's a bad meeting, it'll end very quickly, and if it's a good meeting, we're going to end up getting peace in the pretty near future,' said Trump, who gave the summit a one in four chance of failure. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Trump has voiced admiration for Putin in the past and faced wide criticism after a 2018 summit in Helsinki where he appeared to accept the Russian's denials of US intelligence on Moscow's meddling in US elections. Ukrainian President Volodymyr Zelensky was not invited to the Alaska summit, which he has denounced as a reward to Putin, and has refused Trump's calls to surrender territory. Trump promised not to finalise any deal with Putin and said he hoped to hold a three-way summit with Zelensky, possibly immediately afterward in Alaska. 'The second meeting is going to be very, very important, because that's going to be a meeting where they make a deal. And I don't want to use the word 'divvy' things up. But you know, to a certain extent, it's not a bad term,' Trump told Fox News Radio. Secretary of State Marco Rubio told reporters any future deal needed also to ensure 'security guarantees' for Ukraine. But Trump has previously backed Russia's stance in ruling out letting Ukraine join Nato. Shifting Trump tone Trump had boasted that he could end the war within 24 hours of returning to the White House in January. But his calls to Putin - and intense pressure on Zelensky to accept concessions - have failed to move the Russian leader and Trump has warned of 'very severe consequences' if Putin keeps snubbing his overtures. Putin on Thursday welcomed US diplomacy which he said could also help yield an agreement on nuclear arms control. 'The US administration... is making quite energetic and sincere efforts to end the fighting,' Putin told a meeting of top officials in Moscow. The talks are set to begin at 11.30 am (1930 GMT) on Friday at the Elmendorf Air Force Base, a major US military installation in Alaska that has been crucial in monitoring Russia. 'This conversation will take place in a one-on-one format, naturally with the participation of interpreters,' Kremlin aide Yuri Ushakov told reporters in Moscow. European support for Zelensky Zelensky met in London with British Prime Minister Keir Starmer, who vowed solidarity, a day after receiving support in Berlin. Russia has made major gains on the ground ahead of the summit. Ukraine on Thursday issued a mandatory evacuation of families with children from the eastern town of Druzhkivka and four nearby villages near an area where Russia made a swift breakthrough. Russian forces had on Tuesday swiftly advanced by up to 10 km in a narrow section of the front line, their biggest gain in a 24-hour period in more than a year, according to an AFP analysis of data from the US-based Institute for the Study of War. Ukraine in turn Thursday fired dozens of drones at Russia, wounding several people and sparking fires at an oil refinery in the southern city of Volgograd. Diplomacy since Russia's invasion has largely failed to secure agreements beyond swaps of prisoners. Russia said on Thursday it had returned 84 prisoners to Ukraine in exchange for an equal number of Russian POWs in the latest exchange. AFP
Straits Times
an hour ago
- Straits Times
800 National Guard personnel mobilised for DC mission: Pentagon
Sign up now: Get ST's newsletters delivered to your inbox National Guard troops stand by at the Lincoln Memorial in Washington, DC, on Aug 14. WASHINGTON - All 800 National Guard troops who were ordered to the US capital Washington to aid law enforcement personnel by President Donald Trump have now been mobilised, the Pentagon said on Aug 14. Mr Trump ordered the deployment – which follows a similar move during protests in Los Angeles in June – as part of what he billed as a crackdown on crime in Washington, where violent offenses are in fact down. 'As of today, all 800 Army and Air National Guardsmen are mobilised... as part of Joint Task Force DC, and they are now here in our capital,' Pentagon Press Secretary Kingsley Wilson told journalists. They 'will assist the DC Metropolitan Police Department and federal law enforcement partners with monument security, community safety patrols, protecting federal facilities and officers' and traffic control posts, Mr Wilson said. The troops 'will remain until law and order has been restored in the District, as determined by the president,' she added. The US Army later said the National Guard's initial mission 'is to provide a visible presence in key public areas, serving as a visible crime deterrent.' 'They will not arrest, search, or direct law enforcement,' but they 'have the authority to temporarily detain individuals to prevent imminent harm,' the Army said in a statement. Top stories Swipe. Select. Stay informed. Singapore Owners call for stronger management rules in ageing condos, but seek to avoid being overburdened Business US Treasuries a draw as yield gap with S'pore govt bonds widens, but analysts urge caution Singapore Three top students with passion to serve awarded President's Scholarship Singapore More families in Singapore using childminding and elder-minding services Singapore Over 100 people being investigated for vape offences, say MOH and HSA World Trump says Putin ready to make deal on Ukraine as leaders prepare for Alaska meeting Asia Attack on my son is a 'warning' to silence me, says Malaysian MP Rafizi Ramli Singapore From quiet introvert to self-confident student: How this vulnerable, shy teen gets help to develop and discover her strength The troops will be equipped with protective gear, it added, saying that weapons would be available if needed but would remain in the armory. Mr Trump announced the National Guard deployment – along with a federal takeover of the city's police department – on Aug 11, vowing 'to take our capital back'. The overwhelmingly Democratic US capital faces allegations from Republican politicians that it is overrun by crime, plagued by homelessness and financially mismanaged. However, data from Washington police shows significant drops in violent crime between 2023 and 2024, although that was coming off the back of a post-pandemic surge. The deployment of troops in Washington comes after Mr Trump dispatched the National Guard and Marines to quell unrest in Los Angeles, California, that was spurred by immigration enforcement raids. It was the first time since 1965 that a US president deployed the National Guard against the wishes of a state governor. Most National Guard forces answer to state governors and have to be 'federalized' to be brought under presidential control, but in Washington these troops already report only to the US president. AFP
