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BUSINESS NEWS

1. Bank of Japan Holds Interest Rates Steady Amid Trade Uncertainty

2. U.S.-Russia Ceasefire Agreement Drives Oil Prices Lower

3. U.S. Stock Markets Decline Amid Shifting Trade Policies

4. IMF Forecasts Slower Global Growth with Diverging Regional Trends

5. U.S.-Canada Trade Tensions Escalate with New Tariffs

TECHNOLOGY NEWS

1. Nvidia Unveils 'Vera Rubin' AI Chip for Next-Gen Computing

2. Meta’s AI Chief Stresses Human Oversight in AI Development

OTHER NEWS

1. NASA's SpaceX Crew-10 Successfully Docks with ISS

2. Cheltenham Festival 2025: Prestbury Cup Competition Intensifies

3. NASA Astronauts Prepare for Return After Extended ISS Mission

BUSINESS

1.Bank of Japan Maintains Interest Rates Amid Global Trade Tensions

The Bank of Japan (BOJ) has opted to keep its interest rates steady at 0.5%, aligning with market expectations. This decision reflects concerns over potential global trade conflicts and a slowdown in the U.S. economy. The BOJ highlighted uncertainties in Japan's economic activity, particularly due to evolving global trade policies and the possibility of U.S. tariffs on Japanese exports. ​ 

2. U.S.-Russia Agreement Leads to Decline in Oil Prices

An agreement between the U.S. and Russia for a 30-day ceasefire on attacks targeting energy infrastructures in the Russia-Ukraine conflict has resulted in a drop in oil prices. Brent crude fell to $70.37 per barrel, while West Texas Intermediate (WTI) declined to $66.70. This ceasefire could increase the availability of Russian oil in global markets, potentially easing supply pressures. However, analysts caution that ongoing U.S. trade tariffs might dampen crude demand due to recession fears. ​ 

3. U.S. Stock Markets Experience Declines Amid Trade Policies

Since the inauguration of President Trump's second term in January 2025, U.S. stock markets have faced significant downturns. Key indices such as the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average have all recorded notable losses. This contrasts with gains in European and Asian markets, where indices like the Euro Stoxx 50 and Hong Kong's Hang Seng have advanced, driven by increased defense spending and advancements in Chinese artificial intelligence, respectively. ​ 

4. Global Economic Growth Projections Show Divergence

The International Monetary Fund (IMF) projects global growth at 3.3% for both 2025 and 2026, slightly below the historical average of 3.7%. This forecast reflects an upward revision for the United States, offset by downward adjustments in other major economies. The near-term outlook is characterized by divergent paths, with medium-term risks to growth tilted to the downside. ​ 

5. U.S.-Canada Trade Tensions Escalate

On March 3, President Trump announced that previously delayed tariffs on imports from Canada and Mexico would take effect on March 4. These measures, along with increased tariffs on China, led to significant declines in U.S. stock markets. In response, Canada implemented retaliatory tariffs on U.S. goods, marking a notable escalation in trade tensions between the neighboring countries.

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TECH

Today in AI & Tech

1. Nvidia Unveils Next-Generation AI Chip 'Vera Rubin'

Nvidia has introduced its latest AI chip, 'Vera Rubin,' anticipating increased demand for advanced computing power driven by sophisticated AI systems like DeepSeek. CEO Jensen Huang highlighted that the Rubin chips can be clustered in vast numbers, enabling the training of larger AI models and handling more complex tasks. Despite concerns that AI advancements might reduce the need for expansive data centers, Huang emphasized that the scaling law of AI is resilient and accelerating. The Rubin AI chip, expected in 2026, will feature enhanced memory and networking capabilities, along with a custom-designed CPU. Nvidia also unveiled new products, including workstations for AI researchers and an optical networking system to support larger data centers. ​ 

2. Meta's Chief AI Scientist Advocates Human Oversight in AI Development

Yann LeCun, Meta's chief AI scientist, stated at Nvidia's GTC conference that while AI could theoretically replace humans, societal resistance makes this unlikely. He emphasized that humans will remain in control, effectively becoming the 'boss' of superintelligent AI systems. LeCun downplayed fears of AI-induced doomsday scenarios, labeling them as science fiction clichés, and argued that current AI advancements are not close to achieving superintelligence. He suggested focusing on creating better AI systems with common sense and reasoning capabilities to mitigate misuse and unreliability. ​ 

Other

1. NASA's SpaceX Crew-10 Mission Successfully Docks with ISS

NASA's SpaceX Crew-10 mission successfully docked with the International Space Station (ISS) on March 16, 2025. The crew comprises NASA astronauts Anne McClain and Nichole Ayers, JAXA astronaut Takuya Onishi, and Roscosmos cosmonaut Kirill Peskov. They are scheduled for a six-month stay aboard the ISS, during which they will conduct various experiments and maintenance tasks. ​

2. Cheltenham Festival 2025: Prestbury Cup Standings

The Cheltenham Festival 2025 is underway, featuring the annual Prestbury Cup—a competition between British and Irish trainers across 28 races. As of Champion Day on March 11, the standings are as follows:​ 

• Great Britain: 3 wins​

• Ireland: 4 wins​ 

The competition continues, with both nations striving to secure the coveted trophy. ​

3. Astronauts Prepare for Return After Extended ISS Stay

NASA astronauts Suni Williams and Butch Wilmore are preparing to return to Earth after an extended stay of nearly nine months aboard the ISS. Their return was delayed due to technical issues with Boeing's Starliner spacecraft. They are expected to depart the ISS on March 18, 2025, and land off the coast of Florida later that day. ​

Please note that news developments are subject to change. For the most current information, consult official sources or trusted news outlets.

It's a Wrap!

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