🇪🇺💶🏦 ECB has room to cut rates but should take its time, policymakers say

The European Central Bank has room to cut interest rates as inflation slows but must take its time in easing policy, even if the direction of travel is already clear, key policymakers said on Monday.

https://www.reuters.com/markets/rates-bonds/ecbs-lane-says-ready-start-cutting-interest-rates-ft-reports-2024-05-27/

@FelipeChannel

💻 ‼️Sorry to say, http://archive.org is under a ddos attack. The data is not affected, but most services are unavailable.

We are working on it. This thread will have updates.

https://x.com/internetarchive/status/1795117949499445554

🇵🇾❌💉Paraguay has taken a firm stance in defense of its sovereignty.

The Ministry of Health, led by Dr. María Teresa Barán, has announced, since the preparatory meetings for this Assembly, that it will not support the new international instrument proposed by the World Health Organization for the prevention, preparation and response to future pandemics.

https://www.lanacion.com.py/pais/2024/05/24/ministra-de-salud-viajara-a-ginebra-para-defender-soberania-en-tratados-sobre-pandemias/

https://www.mspbs.gov.py/portal/30101/paraguay-no-apoya-instrumento-ante-futuras-pandemias.html

💰 Mt. Gox cold wallet transferred 12.24k BTC (about $840 million) to the unmarked address: 1JbezD...KLAPs6 today. The Mt. Gox address currently holds 137.892k BTC. Mt Gox will distribute its holdings of 142,000 BTC and 143,000 BCH to creditors before October 31, 2024.

https://platform.arkhamintelligence.com/explorer/entity/mt-gox

https://x.com/WuBlockchain/status/1795276021396279693

🇻🇦🙏POPE APOLOGIZES FOR REMARKS ON LGBTQ PEOPLE, SAYS ALL WELCOME

https://x.com/zerohedge/status/1795444873442533676

🟡🤝🧿 Odysee is the largest Web3 Media Platform in the world and it will decide to build on Cardano ($16bn market cap) or Arweave ($3bn market cap).

It hopes to make its decision soon.

https://x.com/OdyseeTeam/status/1793696250191397352

🇵🇦⛵️ The Panama Canal Authority says through its official channels that for the first time so far in 2024, the Gatún and Alhajuela reservoirs rose above the level recorded for this same date in 2023.

https://x.com/canaldepanama/status/1794857617283588365

🇨🇳💸❌🇺🇸💲 The Start of De-Dollarization: China’s Gradual Move Away from the USD

Since 2010, the majority of China’s cross-border payments, like those of many countries, have been settled in U.S. dollars (USD). As of the first quarter of 2023, that’s no longer the case.

This graphic from the Hinrich Foundation, the second in a three-part series covering the future of trade, provides visual context to the growing use of the Chinese renminbi (RMB) in payments both domestically and globally.

https://www.visualcapitalist.com/sp/hf02-start-of-de-dollarization-chinas-gradual-move-away-from-the-usd/

https://www.hinrichfoundation.com/research/wp/trade-and-geopolitics/the-renminbi-begins-a-long-march/

🇩🇪 Munich’s Oktoberfest to ban Italian disco hit co-opted by far right

The managers of Munich’s Oktoberfest have said they will seek to ban an Italian disco hit from being played at the world’s most famous beer festival after its hijacking by far-right revellers.

In recent months the schmaltzy love lyrics of L’amour Toujours, a catchy 2001 hit by Italian DJ Gigi D’Agostino, have repeatedly been drowned out at public gatherings by a Nazi slogan: “Germany for the Germans, foreigners out”.

Last week footage from the elite German party island of Sylt showing people singing the racist version of the song went viral, causing a wave of outrage and a string of lawsuits.

Charges are expected to be made against at least five people who participated at the Sylt party, on the terrace of the Pony Club, a popular disco venue on the island’s so-called Whiskey Mile.

They are also considering suing the culprits for reputational and economic damage. Amid the fallout from the controversy, a major sponsor said it was ending its relationship with them.

🔗 https://www.theguardian.com/world/article/2024/may/28/munichs-oktoberfest-to-ban-italian-disco-hit-co-opted-by-far-right

🇨🇳🧠📈🇺🇸 — 🇺🇸 Bloomberg | China Chipmakers Are Catching Up Fast in AI, SenseTime’s Xu Says | May 28, 2024:

"China’s domestic AI chipmakers are making fast progress in closing the gap on international leaders, according to SenseTime Group Inc. co-founder Xu Bing.

Asia has a shortage of computation power for artificial intelligence, lagging significantly behind the US, but China has the talent and data to make up lost ground, Xu said in an interview at the UBS Asian Investment Conference in Hong Kong. SenseTime is one of China’s artificial intelligence pioneers, though it’s been placed on a US investment blacklist as part of sweeping American sanctions curbing the country’s advances in AI.

China’s progress in this field has been made more difficult by US trade controls preventing the import of Nvidia Corp.’s advanced AI accelerators. That’s sparked the need for domestic alternatives from the likes of Huawei Technologies Co. and Shanghai Biren Technology Co., which are both also subject to US trade restrictions."

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