Latest news with #US45
AU Financial Review
6 days ago
- Business
- AU Financial Review
Nvidia gives upbeat forecast, even as China slowdown mars growth
Nvidia, the world's most valuable chipmaker, gave a solid revenue forecast for the current period, even as a slowdown in China weighed on results. Sales will be about $US45 billion ($70 billion) in the fiscal second quarter, which runs through July, the company said on Wednesday (Thursday AEST). That included the loss of roughly $US8 billion in revenue from China because of export controls. The forecast was in line with analysts' estimates, according to data compiled by Bloomberg.
The Age
7 days ago
- Business
- The Age
Which conflicts of interest? Trump doubles down on crypto
Trump's plunge into crypto – assets that he once described as a 'scam' – isn't without controversy, even from within the crypto community itself, which backed him in the election with more than $US100 million of donations. Some of those crypto billionaires are now concerned that the controversies surrounding Trump's holdings will rebound on the industry, just as Trump's backing was about to bring crypto into the mainstream of the US financial system. Loading There are obvious conflicts of interest in a president who is ultimately responsible for regulating the sector - and who in March signed an executive order to create a national strategic reserve of bitcoin and other crypto assets - being so deeply invested in the sector. On some assessments, nearly 40 per cent of his net worth (and rising) is now tied up in crypto. What hasn't dispelled the concerns is that Trump is behaving in a most unpresidential fashion, embracing the conflicts. He has been spruiking his meme coin on social media – 'I LOVE $TRUMP – SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!' – promoting the sector and loosening its regulation even as he has become more deeply engaged within it. More to the point, there have been dealings in his crypto assets that have raised more than a few eyebrows and caused a backlash within Congress. At a private dinner and tour of the White House last week for a select few guests who had won invitations by becoming one of the top 220 holders of $TRUMP coins was a Chinese crypto billionaire, Justin Sun. Loading Sun had been sued by the US Securities and Exchange Commission during the Biden administration for allegedly illegally distributing crypto assets and inflating their value. He was an early investor in World Liberty's tokens last year, investing $US30 million in November and following that up with a subsequent investment of another $US45 million. He's now an adviser to World Liberty. After Trump regained office, the SEC asked a judge to put the case on hold. More broadly, the US Justice Department, under the Trump administration, has shut down its national cryptocurrency enforcement team and declared that it's not a digital assets regulator, criticising the Biden administration for a 'reckless strategy of regulation by prosecution.' It has credited a Trump executive order for the shift in approach. There's another controversy surrounding World Liberty. This month, a state-backed Abu Dhabi investment fund, MGX, announced it would use its stablecoin to make a $US2 billion investment in the crypto exchange, Binance. That deal will provide credibility and generate significant revenue for World Liberty, which had promoted its stablecoin as an asset that should be attractive to sovereign wealth funds and other government institutions, but also raises some awkward issues. Binance pleaded guilty in 2023 to money laundering charges and agreed to pay a $US4.3 billion penalty. Its founder and former chief executive, Changpen Zhao, who owns 90 per cent of the platform, served a four-month jail term last year. He has said that he is seeking a pardon from Trump. The Trump family have also reportedly discussed acquiring an interest in Binance's US business. What a tangled web they weave! The conflicts in the Trump family's dealings in crypto have derailed what was a bi-partisan consensus on crypto regulation. Earlier this month, the so-called GENIUS Act, which would have provided a regulatory framework for stablecoins where none currently exists – a bill supported by the crypto sector – was voted down in the Senate because of Trump's perceived conflicts and the potential for crypto assets to be used as conduits for corruption of public officials. Trump's VIP dinner and tour for buyers of his meme coin may have played a role in the bill's rejection. Senate Democrats have proposed their own crypto legislation – the 'End Crypto Corruption Act' -- that would ban presidents, lawmakers and their families from issuing or endorsing crypto assets. Even if it passed, Trump could veto it, which would add another layer of conflict. Loading Crypto investors and entrepreneurs are uneasy with Trump's dealings because they fear that, on the verge of success after years of lobbying for their preferred legislative and regulatory models, the Trump family has jeopardised their goals with its pursuit of crypto schemes. Only Trump would see no conflict of interest in his role as president, who with executive orders and sponsorship (or vetoing) of legislation is shaping regulation of the sector in which a growing proportion of his net worth is invested in, or in his control of businesses that are touting for foreign government investment even as he wages trade wars around the world. He might claim to be at arms-length from the family's crypto dealings because he says his assets are in a trust managed by his eldest son Don Jr, but his repeated promotion of crypto and his meme coin in particular undermines his assertions.
Perth Now
25-04-2025
- Sport
- Perth Now
Daniels feels the love from NBA coaches amid award snub
Dyson Daniels has missed out on the prestige of being named the NBA's Defensive Player of the Year, even though his eye-catching season earned top spot on a poll of 13 coaches. Cleveland's Evan Mobley received 35 first-place votes and 285 total points to win the gong, voted on by 100 media members. Daniels, whose breakout campaign featured 229 steals - the most in an NBA season since Gary Payton's 231 for the Seattle SuperSonics in 1995-96, finished second with 25 first-place votes and a total of 197 points. The Australian earned the moniker 'Great Barrier Thief' in his first season at Atlanta, lifting the Hawks into the play-in tournament while becoming the first NBA player to average more than 3.00 steals per game since Alvin Robertson in 1990-91. The 22-year-old, who has returned home for some downtime and attended Thursday night's AFL match between Richmond and Melbourne, also led the league in deflections. Daniels routinely produced highlight reel fodder - and his pressure left a huge impression on rival coaches. The Athletic asked 13 head and assistant coaches to anonymously cast 3-2-1 votes on the best defensive player of 2024-25, with voting for your own team forbidden. Dyson Daniels has finished second in voting for the NBA's Defensive Player of the Year. (Daniel Pockett/AAP PHOTOS) Credit: AAP Daniels comfortably finished first, tallying 42 points to almost double that of second-placed Luguentz Dort (24 points). One coach praised the former No.8 draft pick for 'doing some things we haven't seen in a long time', while another admitted 'we were always on high alert when he was on the ball'. 'Certain things that he does, you just can't really teach. He just has these cat-like instincts,' they said. Mobley beat Daniels in the official count after ranking sixth in the NBA with a career-best 1.59 blocked shots per game, having also set career highs in points (18.5) and free throw attempts (4.3) for the title-contending Cavaliers. It proved a profitable award too, with ESPN reporting that Mobley's contract stipulates his pay will rise from 25 per cent of the team's cap up to 30 per cent should he win Defensive Player of the Year. That is expected to trigger a total bonus of $US45 million over the life of his current deal that runs until 2030. Andrew Wiggins drives against Dyson Daniels. Credit: Kevin C. Cox / Getty Images Based on Daniels being a finalist for the Defensive Player of the Year, he should at least be named on the All-Defensive team when it is released by the NBA. Ben Simmons is the only Australian to have earned All-Defensive selection. Daniels had nominated All-Defensive selection as a pre-season goal, but admitted in February he had bumped it up to be Defensive Player of the Year. 'Clearly, in my mind, he's the Defensive Player of the Year,' Hawks coach Quin Snyder said last month. 'Maybe the conversation should go to his character. 'Because, as I've thought about and answered those questions about his balance, his anticipation ... I think the correlation between who he is as a player and who he is as a person is very high.'
South China Morning Post
13-02-2025
- Business
- South China Morning Post
Ahead of Modi's meeting with Trump, India frets over possible US-China deal
As Indian Prime Minister Narendra Modi made the rounds in Washington on Thursday – ahead of meeting with US President Donald Trump late in the day – analysts said that while New Delhi was confident about reaching a trade agreement, it remained uneasy about the prospect of a 'grand deal' between China and the US. Mukesh Aghi of the United States-India Strategic Partnership Forum said New Delhi officials had voiced a particular concern: 'While we focus on driving this relationship closer with the US, will Trump make a deal with China and leave us hanging as far as India goes?' He added there was 'overall optimism' in India about reaching a deal with Trump, but also 'some sense of trepidation'. Aghi also noted that while India doesn't want to 'burn bridges' with China, it expects Beijing to remain 'aggressive and assertive in the region'. Other analysts noted that since Trump's return to power last month, New Delhi has drawn unusual attention from Washington. They suggested that Trump's advisers are eager to strike a deal with India that would sideline Beijing, using deeper trade and defence ties with New Delhi as leverage in negotiations with China. Analysts also anticipated more US tariffs on Chinese goods, while Modi looks to offer trade concessions and investments to Trump during his meeting to address the $US45 billion trade surplus India holds over the US.
