In a historic statement, Canadian prime minister Justin Trudeau announced his resignation as the leader of the Liberal Party, citing the need for a new leader to be chosen before the next election. This resignation comes after mounting pressure and internal conflicts within the party, leading to a call for Parliament to be prorogued until March 24. Despite support from party leaders Pierre Poilievre and Jagmeet Singh, some are calling for Canadians to put their faith in a new party, with even U.S. President-elect Donald Trump weighing in on the matter.
Once heralded as the hub of online discourse, Twitter's popularity is diminishing after billionaire Elon Musk acquired the platform and renamed it X. Following the US election, many users have abandoned the site, citing dissatisfaction with the new ownership. While Twitter claims to have dominated global conversation during the election, other social media competitors are gaining traction.
Amidst all the excitement surrounding Trump's U.S. election victory, fund manager Sean Peche is urging investors to take a closer look at Europe. According to Peche, there are some "very attractively priced" companies in the region that have been overshadowed by the Trump euphoria. Peche believes that stocks such as French bank BNP Paribas and Dutch investment bank ABN Amro, with consistent growth and high dividends, are being ignored by investors. He also points out "attractive" stocks in the UK, such as Associated British Foods, which owns retail giant Primark. While political turmoil in France and the UK may raise concerns, Peche remains unfazed and advises against overlooking these opportunities.
Amidst ongoing controversy over the US presidential election, President-elect Donald Trump appointed Devin Nunes, the CEO of Truth Social, as the chairman of the President's Intelligence Advisory Board. Nunes' previous experience as the chairman of the House Intelligence Committee and involvement in exposing Russian interference in the 2016 election were cited as qualifications for the role. The President's Intelligence Advisory Board provides independent advice to the President on the effectiveness and future plans of the country's intelligence community. In other news, Trump has also nominated Indian-American Harmeet Dhillon for a high-ranking position in the Department of Justice.
The decline of local news sources in the past two decades has led to the emergence of news deserts, leaving hundreds of counties in the US without any local news outlets. This has paved the way for new startups, but they are largely concentrated in areas with an already robust media landscape. The lack of local news has also contributed to a more polarized political landscape, as voters rely on national discourse and non-traditional media figures for news. As seen in the recent presidential election, digital content creators such as podcasters and social media influencers are gaining more viewership and influencing news consumption.
Since changing its name to X in 2023, the social media platform formerly known as Twitter has seen a sharp decrease in its number of active users. Notable individuals and organizations, including British news publication The Guardian, have expressed concerns about the negative impact the platform has on society. As a result, many are turning to new social network Bluesky as an alternative. If you're considering deleting your X account, we'll explain the steps you can take and suggest ways to protect your data before doing so.
Indian equities continued their upward trend for the second day, with Nifty and Sensex both registering gains of over 1.5%. Bank Nifty also saw an increase of nearly 2%, led by gains in HDFC Bank, ICICI Bank, SBI and Axis Bank. This surge can be attributed to the positive sentiment post the state election results, which have been deemed as highly positive for the market. Analysts predict that the rally may continue for a few more days, driven by short covering and bullish momentum. Meanwhile, Asian markets also traded in the green as the US Treasury secretary selection caused a downward movement in the dollar and bond yields.
Tesla CEO Elon Musk praised India for successfully counting 640 million votes in just one day for their Lok Sabha elections. In contrast, California, with a significantly smaller population, is still struggling to tally the results of their presidential election which took place 18 days ago. Musk's post on X highlights the efficiency of India's electoral process and the shortcomings of the US system, which has led to a delay in vote counting in the most populous state.
Elon Musk's platform, formerly known as Twitter, surged in popularity on Apple's App store in India, claiming the top spots on both iPhone and iPad rankings. This growth occurred amidst heightened user engagement during the US presidential election, which Musk actively contributed to by posting updates and engaging with users. Despite controversies and policy shifts, Musk's vision for X as an "everything app" continues to attract a large user base, further supported by the introduction of premium features and a streamlined design.
On the verge of reaching a record-breaking $90,000, Bitcoin has experienced a surge in value since the election of Donald Trump as U.S. president. This growth in the world's biggest cryptocurrency is largely attributed to expectations of the Trump administration being more crypto-friendly. With allies like Elon Musk's Tesla and Trump's pro-digital assets stance, investors are confident in the success of the industry under Trump's leadership. This has also lead to an increase in demand for crypto stocks and currencies, solidifying the notion of the U.S. becoming the "crypto capital of the planet".