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By Eduardo Baptista and Samuel Shen BEIJING/SHANGHAI, June 12 (Reuters) – SpaceX’s record $75 billion IPO is poised to supercharge Chinese space startups racing to fund the same technologies that have made Elon Musk the world’s first trillionaire— reusable rockets and giant satellite constellations. In China, the initial public offering was watched as a benchmark for a younger industry eager to go public. But the frenzy masks a fundamental gap, […]

KYIV, June 12 (Reuters) – Ukraine will seek an additional $20 billion in military funding from its allies at a meeting next week to cement what it sees as its current battlefield advantage over Russia, a Ukrainian defense source said. The request will be made next Thursday at a meeting of the Ukraine Defense Contact Group, an alliance of more than 50 countries also known as the Ramstein group, where […]

NEW YORK (AP) — Taylor Swift became the youngest woman ever inducted into the Songwriters Hall of Fame Thursday night at age 36. “It was instinctual. No one taught me how to do it,” she said of songwriting through a raspy voice she attributed to screaming along to the night’s performances and Wednesday night’s historic NBA game between the New York Knicks and the San Antonio Spurs. She told the […]

SAN JUAN, Puerto Rico (AP) — Thousands of Puerto Ricans are struggling with water shortages so severe that the governor of the U.S. territory has activated the National Guard and emergency responders are fielding calls every day. Officials have not publicly pinpointed the cause, with shortages largely affecting some areas in the island’s most populated cities, including the capital San Juan. The island’s utilities company extracts water from rivers, reservoirs […]

MANILA, Philippines (AP) — Philippine officials said Friday that years of disaster-preparedness drills helped prevent a larger casualty toll when one of the strongest earthquakes in 50 years struck the south and left 55 people dead with 31 others missing. The 7.8 magnitude offshore quake, which struck Monday off Sarangani province, injured about 1,120 people and displaced more than 45,000 people, about half them still in emergency shelters, after the […]

By Manya Saini, Echo Wang and Niket Nishant June 12 (Reuters) – SpaceX is set to begin trading on Nasdaq on Friday after investors poured $75 billion into the world’s biggest IPO ever, betting that Elon Musk’s lofty space, communications and AI ambitions can justify a $1.77 trillion valuation. The landmark listing cemented Musk’s status as the first trillionaire ever and propelled SpaceX into the ranks of the world’s most […]

By Elizabeth Howcroft PARIS, June 11 (Reuters) – Before SpaceX goes public, crypto exchanges are giving traders a way to make risky bets on the company’s future share price. Billions of dollars have flowed into instruments dubbed “pre-IPO perpetual futures”, which have no direct link to the underlying shares but are priced with reference to SpaceX’s latest disclosed pre-IPO valuation. These types of derivatives, known as “perps”, are already used […]

BEIJING, June 12 (Reuters) – China’s foreign ministry confirmed on Friday the arrest of U Min Zin, a U.S. citizen, saying the American was suspected of spying and endangering Chinese national security. China has notified the U.S. consulate general in the southern Chinese city of Guangzhou of the arrest, Lin Jian, a ministry spokesperson, told a regular news conference when asked about a New York Times report that Min Zin […]

OTTAWA, Ontario (AP) — Canadian Prime Minister Mark Carney became a symbol of middle power resistance after a celebrated speech earlier this year, but he is expected to be more muted in his criticism of U.S. President Donald Trump at an upcoming summit in Europe. Carney’s speech at the World Economic Forum in Davos, Switzerland, helped make him an international political star in January, when he declared the global rules-based […]