The Trump administration is in talks with Intel for the government to take a stake in the beleaguered chipmaker, sources say, the latest sign of the White House's willingness to blur the lines between state and industry. A deal would help shore up Intel's planned hub in Ohio, which the firm once promised to turn into the world's largest chipmaking facility. Prabowo Subianto quickly rolled out a series of bold initiatives after becoming Indonesia's president last year, intent on emulating Deng Xiaoping's model of rapid, state-driven development that propelled China's economic miracle. In his inaugural State of the Nation address today, Prabowo vowed to use the power of the state to root out corruption and direct resources to social programs. The Bolivian central bank has raked in more than $3 billion by buying murky bullion and swapping it for much-needed dollars. A gold rush in the lush Amazon basin north of La Paz is offering the Latin American nation an economic lifeline, helping it honor its debts despite a crippling dollar shortage, a local-currency crisis and surging inflation that threaten to end the socialist party's rule. Read our explainer here on what's at stake in Sunday's election. Gold mining operations near the town of Chima. Photographer: Marcelo Perez Del Carpio/Bloomberg Japanese Prime Minister Shigeru Ishiba commemorated the millions who died in World War II and expressed regret, following speculation over whether he would make a strong statement on the nation's wartime atrocities and risk anger from right-leaning factions in his party. South Korean President Lee Jae Myung, meanwhile, said Japan is an "indispensable partner" for economic growth in a speech marking the end of Japanese colonial rule of the Korean Peninsula — a departure from his previous hawkish rhetoric as he prepares to visit Tokyo this month. Romania's new prime minister warned the risk of debt default is "very big" unless the government quickly reins in spending after years of profligacy. Premier Ilie Bolojan told us yesterday in an interview that he sees the next six months as crucial for his administration to impose a series of radical austerity measures despite growing public discontent and tensions within the ruling coalition. Indian Prime Minister Narendra Modi announced tax cuts, pledged policy reform and urged citizens to design and produce high-quality goods at home, in a sweeping Independence Day speech that advocated for self reliance in a protectionist global economy. Trump said he's raised the case of former Hong Kong media mogul Jimmy Lai with China, underscoring the wide-ranging nature of trade negotiations with Beijing. Lai's national-security trial has been adjourned until Monday, when prosecutors will begin closing arguments. Serbian police fired tear gas to disperse an anti-government rally in the capital Belgrade late yesterday as President Aleksandar Vučić vowed to put down protests against his rule across the Balkan country. Serbian riot police face anti-government protesters in Belgrade yesterday. Photographer: Marko Djokovic/AFP/Getty Images China has detained a senior diplomat for questioning in connection with the investigation into Liu Jianchao, a top official who had been widely viewed as the nation's next foreign minister, news agency Reuters cited sources as saying. Don't miss from Bloomberg Weekend: Kriston Capps looks at the implications of Trump's takeover of law enforcement in Washington, DC, and Christopher Beam profiles China expert and author Dan Wang. Subscribe to the Bloomberg Weekend newsletter here. |
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