🚀SpaceX Launches Starlink Satellites

☀️Good morning. It's Monday, Nov. 25, and we're covering, US Plans To Trim Intel’s Federal Chips Grant Below $8 Billion, Indian Regulator Rejects Apple's Request To Pause Antitrust Investigation, Hezbollah Launches Heavy Rocket Into Israel, and much more. First time reading? Sign up to get this newsletter: Sign up here.  

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $3.36 Trillion, a 0.08% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $200.86B, which makes a 0.95% increase.

• The total volume in Defi is currently $14.77B, 7.35% of the total crypto market 24 hours.

• The volume of all stablecoins is now $179.64B, which is 89.44% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 57.80%, an increase of 0.03% over the day.

Bitcoin’s Rally Stalls After Nearing $100,000 Mark

Bitcoin’s surge toward the $100,000 mark has hit a temporary roadblock, with the cryptocurrency falling to as low as $95,776 on Sunday after coming within $300 of the historic milestone on Friday. As of Monday morning in Singapore, Bitcoin rebounded slightly to $97,550, sparking discussions among market analysts on whether the cryptocurrency’s recent rally, driven by optimism around President-elect Donald Trump’s favorable stance on digital assets, may be running out of steam. (Read Deeper)

BUSINESS & FINANCE

US Plans To Trim Intel’s Federal Chips Grant Below $8 Billion

The U.S. government plans to reduce Intel’s federal chips grant from $8.5 billion to below $8 billion, partly due to a $3 billion Pentagon contract awarded to the company. This funding is part of the CHIPS and Science Act, which allocates $52.7 billion to boost domestic semiconductor production. Earlier this year, Intel was set to receive nearly $20 billion in grants and loans to expand its chip manufacturing in Arizona.

Takeaway: Intel's projects are central to the U.S.’s broader strategy to counter reliance on foreign semiconductor manufacturing and bolster the domestic supply chain, ensuring critical technologies are produced onshore amid global competition. This move highlights the evolving dynamics between public subsidies and private contracts as the government seeks to spur innovation while managing taxpayer resources effectively. (Read Deeper)

Oil Prices Ease But Remain Elevated Amid Russia-Iran Tensions

Oil prices slightly retreated on Monday after a strong 6% gain last week but remained near two-week highs due to rising geopolitical tensions between Russia, Iran, and Western powers. Brent crude futures fell by 0.35% to $74.91, and U.S. West Texas Intermediate crude dropped by 0.38% to $70.97. Tensions over Russia's missile launch and Iran’s nuclear actions, along with concerns about supply disruptions, continue to support prices.

Takeaway: Investors are also focused on rising crude oil demand from China and India, the world’s largest and third-largest oil importers, respectively. traders will be closely watching U.S. personal consumption expenditures (PCE) data, which will be released on Wednesday. The data is expected to provide important clues about the Federal Reserve’s policy direction ahead of its December meeting. (Read Deeper)

TECHNOLOGY & SCIENCE

Indian Regulator Rejects Apple's Request To Pause Antitrust Investigation

India's antitrust regulator, the Competition Commission of India (CCI), has rejected Apple's request to pause an investigation report that accuses the company of violating competition laws. Apple had objected to the original report, claiming it disclosed sensitive commercial information and asked for revised proceedings. The CCI issued a new report but refused Apple's request to delay the case.

Why It Matters: The investigation found Apple abused its dominance in the iOS app store market, harming developers, users, and payment processors. Apple denies the allegations, emphasizing its limited market share in India, where Android devices dominate. The CCI has directed Apple to submit financial statements for the last three fiscal years, which will aid in determining potential penalties. (Read Deeper)

SpaceX Launches 20 More Starlink Satellites, Expanding Its Global Internet Network

SpaceX launched 20 Starlink satellites from California's Vandenberg Space Force Base early Sunday morning. Among the satellites, 13 are equipped to provide direct smartphone connectivity. The mission used a Falcon 9 rocket, whose first stage successfully landed on the droneship Of Course I Still Love You in the Pacific Ocean. This marks the 15th flight for the reusable booster, 12 of which have supported Starlink missions.

Takeaway: The satellites were deployed into low Earth orbit about an hour after liftoff, adding to the Starlink mega constellation, which now boasts over 6,600 active satellites. This was the 115th Falcon 9 launch in 2024, with nearly 70% dedicated to expanding the Starlink network, the largest satellite constellation ever assembled. (Read Deeper)

AROUND DE WORLD & POLITICS

Hezbollah Launches Heavy Rocket Into Israel

Hezbollah launched 250 rockets into Israel from Lebanon, causing injuries and damage in northern and central Israel, including Tel Aviv. This escalation followed an Israeli airstrike in central Beirut on Saturday that killed 29 people. Hezbollah retaliated with precision missiles targeting Israeli military sites.

Takeaway: Hezbollah claimed responsibility for launching precision missiles at military sites in Tel Aviv, fulfilling a prior warning to retaliate for attacks on Beirut. The violence has compounded the humanitarian crisis, with over 3,670 deaths and more than one million displaced in Lebanon since October 2023. (Read Deeper)

Yamandú Orsi Elected President Of Uruguay, Pledges 'Modern Left' Leadership

Yamandú Orsi, a 57-year-old former history teacher and mayor, is Uruguay’s new president-elect, representing the left-leaning Broad Front coalition. He narrowly defeated the ruling center-right candidate, Alvaro Delgado, with 49.8% of the vote. Orsi emphasizes a "modern left" approach, focusing on tackling homelessness, poverty, and crime while maintaining Uruguay's business-friendly reputation and avoiding tax increases despite a growing deficit.

Takeaway: His track record as mayor of Canelones includes attracting international investment and streamlining bureaucracy. He plans to prioritize economic growth, bolster the prison system, and strengthen ties with Europe to address drug-related crime. Orsi's leadership represents a generational shift in Latin America's political left, blending social welfare with economic pragmatism. (Read Deeper)

ENTERTAINMENT & SPORTS

Leicester City Sack Manager Steve Cooper After Defeat To Chelsea

Leicester City has announced the sacking of manager Steve Cooper with immediate effect, following a 2-1 loss to Chelsea on Saturday. The defeat left the Foxes just two points above the relegation zone, prompting the club to part ways with Cooper. Ben Dawson has been appointed to oversee first-team duties temporarily as Leicester work to secure a permanent replacement. Early reports indicate that David Moyes and Graham Potter are the leading candidates to take over from Cooper. (Read Deeper)

Box Office: 'Wicked' Breaks Records, 'Gladiator II' Has Strong Debut

Wicked has set the box office ablaze with a record-breaking $114 million opening, marking the third-biggest domestic debut of the year behind Deadpool & Wolverine and Inside Out 2. The musical, based on the Broadway hit, also posted a global total of $164.2 million, surpassing previous musical adaptations like Les Miserables. Gladiator II performed solidly with $55.5 million, though it fell short of expectations. The sequel to the Oscar-winning Gladiator stars Paul Mescal, Pedro Pascal, and Denzel Washington, and has earned $221 million globally so far. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Samsung's Stock Panic: A $122 Billion Blowout and the End of an Era? (Listen)

EXTRA BREVITI

• A deal struck at COP29 to provide $300 billion annually to developing countries to support their green transitions has sparked widespread criticism from delegates of those nations. (Read More)

• Swedish battery maker Northvolt AB has filed for Chapter 11 bankruptcy in the U.S. (Read More)

• Chinese startups are facing growing pressure from early-stage investors demanding their money back after failing to meet the terms of market listings.(Read More)

• Deepfake Scams Exploit AI to Defraud Billions, with Elon Musk Images.(Read More)