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  • Toro Unveils Lynx Drive Irrigation Software

    Toro2

    Bloomington, Minneapolis, United States: Toro has announced the availability of Lynx Drive – a completely reimagined, mobile-first approach to golf irrigation software. Designed specifically for golf course superintendents, the all-new Lynx Drive is now available for order.

    The new Lynx Drive is an entirely renewed system designed for real-time, on-the-go control. No matter where they are on the course, Lynx Drive puts irrigation management directly into a superintendent’s hands. Field tested on a wide range of courses, including Bobby Jones Golf Course in Atlanta, Georgia, the system has gained popularity for its usability and efficiency.

    “Toro continues to design top-tier solutions for irrigation management that play a vital role in our ability to maintain our revolutionary, reversible course,” said Kyle Macdonald, Superintendent at Bobby Jones Golf Course. “The new Lynx Drive system makes it possible to respond to issues in real time with nearly pinpoint accuracy while keeping the entire crew updated on needed actions.”

    With Lynx Drive, superintendents can immediately respond to changing course conditions, shifting weather and unexpected emergencies – all from a mobile device.

    Designed for easy use on smartphones and tablets, the streamlined layout of Lynx Drive highlights the features used daily to optimise irrigation management. The incredibly intuitive display includes larger text and high-quality images with bright colours for enhanced visibility and detail.

    The Lynx Drive system ensures the entire crew is informed, minimising delays and eliminating guesswork. Smart Notes provides immediate communication with detailed notes, photos and team transparency. The ability to include a device name makes it possible to identify who performed each action, while time-stamped photos add valuable detail. Smart Notes maintains a full notes history for up to one year for easy reference.

    Smart Notes and flags help to pinpoint reports and match them to an exact station on the map, ensuring precise adjustments in the correct location. All alerts and a detailed course map are visible to the entire crew on both mobile and desktop platforms for fast, co-ordinated action.

    Expanded mapping integration enables users to include files that can be shared through mobile and desktop programmes. This leads to streamlined communications, more efficient operations and greater productivity every day.

    “We previewed Lynx Drive at the GCSAA Show and are thrilled to get it in the hands of the superintendents it was designed for,” said John Dalman, Senior Product Marketing Manager at Toro. “This revolutionary system will change the way courses perform preventative and reactive maintenance, improving course conditions and crew collaboration.”

    Lynx Drive is currently compatible with two-wire Lynx Smart Module (LSM) systems. Support for additional platforms, such as satellite and hybrid, will be introduced with future releases.

    Lynx Drive sets the standard for innovative irrigation management systems with on-the-go controls, faster response times and connected communication for precision and productivity. 

    For further information, visit https://lynxdrive.toro.com/

    *Toro is an Executive Member of the Asian Golf Industry Federation.

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  • Recent patterns in global risk behaviour in financial markets

    In recent months, global financial markets have witnessed episodes of heightened volatility, with trade tensions being a key source of uncertainty. The first half of 2025 was marked by rising uncertainty, reflecting a combination of factors including rising trade tensions, shifting geopolitical dynamics, and growing concerns about fiscal sustainability in the US (Figure 1). The emphasis on trade policy as a key policy instrument by the current US administration culminated in the announcement of sweeping tariffs on its trading partners on 2 April 2025. This announcement resulted in pronounced bouts of financial market stress in the days that followed. The VIX index – a widely recognised gauge of market volatility – surged beyond 50, reflecting an acute rise in uncertainty and heightened risk aversion among investors (Figure 2). Similarly, option-implied volatility in bond and currency markets spiked, as uncertainty about future interest rate and exchange rate developments mounted, partly linked to worries about the potential implications of the shift in trade policy. The scale of volatility increases in April was substantial from a historical perspective, but in the months that followed, market uncertainty has recovered to relatively average levels, in spite of further geopolitical and economic uncertainties (Figure 2, zoom-in window in the left panel, as well as red and green dots in the right panel).

    Figure 1 US economic and trade policy uncertainty indices

    Sources: Bloomberg, based on Baker et al. (2016) and policyuncertainty.com.
    Note: The latest observation is for 28 July 2025.

    Figure 2 Option-implied volatility
    (left panel: standardised indices, right panel: index)

    Sources: Bloomberg and ECB staff calculations.
    Notes: ‘Equity’ denotes the VIX index (one-month option-implied volatility of the S&P 500 index), ‘bond’ denotes the MOVE index (one-month option-implied volatility of US Treasury futures for two, five, ten, and 30-year maturity), ‘currency’ denotes the one-month option-implied volatility of the USD/EUR exchange rate. Left panel: Option-implied volatilities are standardised using z-scores. Vertical lines denote the following events: (1) ‘April 2025’ refers to the tariff announcement on 2 April 2025, (2) ‘Iran conflict’ refers to the start of the Iran-Israel conflict on 12 June 2025, (3) ‘Big Beautiful Bill signed’ refers to 1 July 2025. Right panel: Distributions of (not standardised) option-implied volatilities are calculated since 2010, bars denote 25th-75th percentile range, lines denote 5th-95th percentile range. April peak refers to 8 April 2025. The latest observation is 28 July 2025.

    Cross-asset correlations observed after 2 April 2025 were different from those typically observed in risk-off episodes. The April events appear to have increased risk aversion among investors, prompting them to rotate into safe-haven assets. Typically, global risk-off episodes trigger safe-haven flows into safe currencies and bonds. In the past, such flows tended to temporarily lower yields on highly rated sovereign bonds such as US Treasuries and German Bunds, while the US dollar and other safe-haven currencies like the Swiss franc typically appreciated (Figure 3, solid blue lines). In early April, market perceptions of global risk increased, and volatility indices spiked. US yields fell initially, in line with historical patterns, but started to rise sharply after two days (Figure 3, dotted blue lines). Unusually, these developments in the VIX and US yields were accompanied by a depreciation of the US dollar and a strengthening of the euro.
    In the months that followed, markets experienced another, much smaller and short-lived bout of uncertainty, following the events of mid-June related to the escalation of the conflict in the Middle East. In contrast to the April episode, this adverse geopolitical risk shock saw a slight appreciation of the US dollar.

    Figure 3 Response of financial assets to major ‘risk-off events’
    (cumulative percentage change)

    Sources: Haver Analytics and ECB staff calculations.
    Notes: EUR, USD and CHF refer to broad nominal effective exchange rates. Average response is calculated around the five biggest daily VIX-change episodes. ‘2 April risk-off’ shows the response after Trump’s tariff announcement.

    To zoom in on the safe-haven behaviour of investors in April, we estimate a ‘safe-haven factor’. In our analysis, we derive a ‘safe-haven factor’ by modelling the co-movement among the major safe-haven assets, currencies, and key risk indicators. In particular, the ‘safe-haven factor’ is estimated as the first principal component of daily changes in the nominal effective exchange rate of CHF, JPY, USD, EUR, gold price returns, the first difference of ten‑year government yields for the US, Japan, and the euro area, and changes in the VIX index. All returns are standardised using z-scores to account for different variances across the indicators. The US dollar and euro are purged by domestic monetary policy and macro shocks estimated using the model of Brandt et al. (2026). For example, the US dollar return component used for the estimation of the ‘safe-haven factor’ is the residual from the regression of the daily USD net effective exchange rate returns on the US monetary policy and US macro shocks. The euro return component is the residual from the regression of the daily EUR net effective exchange rate returns on the euro area monetary policy and macro shocks. Our approach to use purged USD and EUR net effective exchange rate variables helps us control for major fundamental factors that might be influencing their developments and focus on the residual dynamics of these currencies. In addition, we purge gold price returns from the impact of the USD exchange rate developments by taking the residual from the regression of the gold price returns on the USD net effective exchange rate returns. The ‘safe-haven factor’ resulting from the principal component analysis explains around one third of the variance of its components and indicates the largest increases, among others, in late 2008 during the peak of the Global Crisis, in June 2016 after the Brexit referendum, in early 2020 during the Covid crisis, in August 2024 during a stock market plunge and unwinding of carry trades, as well as in April 2025 (Figure 4).

    Figure 4 The ‘safe-haven factor’
    (index)

    Sources: Haver Analytics and ECB staff calculations.
    Notes: The ‘safe-haven factor’ is estimated as the first principal component of daily changes in the net effective exchange rates of CHF, JPY, EUR, and USD (purged by monetary policy and macro shocks estimated using the model of Brandt et al. 2026); gold price returns (purged from the USD); the first difference of ten‑year government yields for the US, Japan, and the euro area; and the VIX. The estimation is daily from 2006 to 2025, the line illustrates cumulated monthly sums of the factor, while vertical lines denote the following events: (1) ‘Lehman collapse’ in September 2008, (2) ‘Onset of sovereign debt crisis’ refers to Greece receiving a bailout package in May 2010, (3) ‘Sovereign debt crisis escalation’ refers to the escalation of the European sovereign debt crisis due to Greek’s political instability in May 2012, (4) ‘Brexit referendum’ in June 2016, (5) ‘US-China trade war’ refers to the reciprocal imposition of tariffs during the first Trump administration, (6) ‘Covid-19’ in February 2020, (7) ‘SVB collapse’ in March 2023, (8) ‘August 2024 crash’ refers to the stock market plunge in August 2024, and (9) ‘April 2025’ refers to the tariff announcement. The latest observation is 28 July 2025.

    Model evidence confirms that the co-movement of certain financial market variables with a safe-haven factor was different in April. Our principal component analysis further illustrates the different nature of the April 2025 risk-off episode. Figure 5 shows a typical co-movement of each variable with the ‘safe-haven factor’, estimated over the period from 2006 to March 2025 (red dots), as well as a range of the co-movement, estimated as +/- one standard deviation range of results using a three-year rolling window (yellow ranges). The typical co-movement is compared to the estimates for the period of April-July 2025 (blue dots). Typically, US Treasury yields co-move negatively with the ‘safe-haven factor’ (Figure 5, red dots and yellow ranges). This reflects the fact that US Treasury yields typically decline during periods of global risk aversion as the demand for US Treasuries increases. In the period following 2 April, however, US yields exhibited a less negative co-movement with the ‘safe-haven factor’ – as US Treasury yields increased after 2 April (Figure 5, blue dots). At the same time, the estimated co-movement of German Bunds with the ‘safe-haven factor’ remained stable. Looking at currencies, while the US dollar has typically appreciated following a deterioration in global risk sentiment, this co-movement switched signs in April 2025. By contrast, the co-movement of the euro exchange rate with the ‘safe-haven factor’, which has been historically close to zero, turned positive, closer to the usual behaviour of a safe-haven currency such as the Swiss franc.

    Instances of changing co-movement of the US dollar with the ‘safe-haven factor’ have at times been observed in the past. While the usual co-movement of the US dollar with the ‘safe-haven factor’ tends to remain broadly stable (as shown in Figure 5 with yellow ranges), the instances of changing patterns are not unprecedented. For example, Figure 6 illustrates that there have been several times in the past years when the co-movement of the US dollar with the ‘safe-haven factor’ declined or even turned negative. For example, a period of somewhat negative co-movement has been observed in the early months of 2017, after the introduction of the fiscal stimulus during the first presidency of Donald Trump. Further examples of a slightly lower co-movement of the US dollar with the ‘safe-haven factor’ include the months after the downgrade of US credit rating by Fitch from AAA to AA+ in August 2023, the period of US equity market sell-off in the fall of 2018, when the stock market priced in negative effects of the trade war with China, the slowdown in global economic growth and concerns about rising interest rates, as well as the Covid period in 2020, which was characterised by outflows from US Treasuries observed during the ‘dash-for-cash’ episode. Comparing these estimates with April 2025 (blue dot for USD in Figure 5), the most recent change in the co-movement of the US dollar with the ‘safe-haven factor’ has been substantial, which might suggest that the policy-related news and uncertainty were relatively pronounced, as compared to past episodes. In addition, strong currency market developments following the April event might have been reportedly linked to the rebalancing of hedging activity among international investors, covering currency risks related to previously unhedged exposures in US dollar-denominated assets. With respect to yield developments, US Treasury yield increases after the April 2025 episode were accompanied by the decline in measures of the convenience of US Treasuries.
    Related academic research offers a broader perspective on the dynamics in longer-term US yields. Jiang et al. (2025b), as well as Jiang et al. (2025c) document a trend of declining US convenience yields in recent years linked to, among others, concerns about a deteriorating fiscal situation. Such concerns have also gained market attention in the recent months.

    Figure 5 Co-movement of financial assets with a ‘safe-haven factor’
    (index)

    Sources: Haver Analytics and ECB staff calculations.
    Notes: Dots show the weights in the first principal component estimated from daily changes in the net effective exchange rate (NEER) of CHF, JPY, EUR, and USD (purged by monetary policy and macro shocks estimated using the model of Brandt et al. 2026); gold price returns (purged from the USD); the first difference of ten‑year government yields for the US, Japan, and the euro area; and the VIX. Red dots: sample from 1 January 2006 to 31 March 2025; blue dots: 1 April 2025 – 15 July 2025 (the sample covers several weeks to ensure a sufficient number of observations). Yellow area: +/- one standard deviation range of results using a three-year rolling window. The latest observation is for 28 July 2025.

    Figure 6 Past events of temporary shifts in USD co-movement with the ‘safe haven factor’
    (index)

    Sources: Haver Analytics and ECB staff calculations.
    Notes: Bars show the weights of the USD net effective exchange rate (purged by monetary policy and macro shocks) in the ‘safe-haven factor’, as defined in Figure 3, estimated over the following selected periods of time: (1) ‘Trump’s fiscal stimulus’ 1 January 2017 to 1 June 2017, (2) ‘US downgrade by Fitch’ 1 August 2023 to 1 October 2023, (3) ‘US equity sell-off’ 1 October 2018 to 1 January 2019, (4) ‘COVID’ 1 March 2020 to 1 September 2020, and (5) ‘Full sample’ 1 January 2006 to 31 March 2025, as in Figure 5.

    To give perspective on potential shifts in demand for US assets, US portfolio investment data for April show high outflows, but they were not unprecedented in scale and appear to have normalised since May. Apart from pricing indicators, currently available data on portfolio holdings do not show persistent outflows from the US (Figure 7). To obtain the most comprehensive picture, we review both EPFR and US Treasury data, which provide higher-frequency portfolio allocation estimates (EPFR data), and records of foreign portfolio holdings (Treasury data). Weekly data on flows into US portfolio investment funds showed substantial but temporary outflows in the first week or two immediately after the tariff announcements. Putting the net sales of US bonds in a historical perspective, they were lower than the 95th percentile of weekly outflows observed since 2012. However, foreign net purchases subsequently recovered, such that they remained broadly stable when taken for the months of April and May as a whole, for equities, bonds, and money markets, and added to the broad inflows observed since the elections (Figure 7, Panel A, left).
    Focusing on euro area investors, there is evidence of some outflows from US bond funds by these investors, albeit the pattern has been temporary so far (Figure 7, Panel A, right).
    Data from the US Treasury International Capital System (TICs) indicate that foreign investors registered over $50 billion in net sales of total US long-term securities in April 2025, $40 billion of which were in US Treasuries (Figure 7, Panel B, left). The scale of net sales of US Treasuries by foreign investors in April is comparable to those observed in November and December 2024 and stands close to the 95th percentile of outflows since 2012, albeit nowhere near the rate of outflows from US Treasuries observed during the ‘dash-for-cash’ episode that followed the onset of Covid in March 2020 (Barone et al. 2022).  Sales by foreign investors of US Treasuries were driven by net sales by private sector investors ($46 billion) rather than investors from the official sector (who purchased $6 billion). Looking across different economies, the largest sales of US Treasuries in April 2025 were recorded by Canada ($57 billion), the euro area ($21 billion), and China ($7 billion).
    For US equities, US TICs data indicate net sales by foreign investors of around $19 billion in April (Figure 7, Panel B, right). However, the TICs data also suggest that foreign demand for US securities has rapidly recovered. Net foreign purchases of US Treasury securities rebounded to $146 billion bonds in May, while the equivalent figure for US equity securities was $114 billion. Overall, the currently available data point to some temporary rebalancing (for example related to adjustments of hedging), which so far appears to have stabilised. At the same time, policy uncertainty remains high, signalling possible further shocks, as concerns about policies seem to persist.

    Figure 7 Investor flows to US assets
    (USD billions)

    Panel A: Net flows to funds investing in the US

    Panel B: Net foreign purchases of US Treasuries and equities

    Source: EPFR Global, Haver Analytics, US Treasury International Capital (TIC) System and ECB staff calculations.
    Note: Panel A: ‘All investors’ refers to flows to US funds by all investors, ‘EA investors’ refers to flows from euro area-domiciled investors to US funds, based on EPFR Global data. ‘Bond’ and ‘Equity’ are based on EPFR definition of country flows. Distributions are calculated since 2012. ‘April flows’ refer to the weekly flows following Trump’s tariff announcement on 2 April, ‘Covid flows’ refers to the flows in the last week of March 2020 during the ‘Dash for Cash’ episode. The last observation is for 23 July 2025 (weekly data). Panel B: Net foreign purchases of US Treasury securities and equities, based on US Treasury International Capital (TIC) System data. Distributions are calculated since 2012. ‘April flows’ refer to the April monthly flows following Trump’s tariff announcement on 2 April, ‘Covid flows’ refers to the flows in March 2020 during the ‘Dash for Cash’ episode. The last observation is May 2025 (monthly data).

    Authors’ note: Helpful discussions with and comments by M. Ferrari Minesso, A.-S. Manu, A. Mehl, F. Pires, T. Tomov, I. Van Robays and I. Vansteenkiste are gratefully acknowledged.

    References

    Acharya, V and T Laarits (2025), “Tariff war shock and the convenience yield of US Treasuries – a hedging perspective”, Working paper.

    Adrian, T, R Crump and E Moench (2013), “Pricing the term structure with linear regressions”, Journal of Financial Economics 110(1): 110–138.

    Ahmed, R and A Rebucci (2025), “A ‘reverse conundrum’ and foreign official demand for US Treasuries”, VoxEU.org, 15 January.

    Baker, S R, N Bloom and S J Davis (2016), “Measuring Economic Policy Uncertainty”, The Quarterly Journal of Economics 131(4): 1593-1636.

    Barone, J, A Copeland, C Kavoussi, F M Keane and S Searls (2022), “The Global Dash for Cash: Why Sovereign Bond Market Functioning Varied across Jurisdictions in March 2020”, Federal Reserve Bank of New York, Staff Reports No. 1010.

    Beck, R, V Burian, G Georgiadis and P McQuade (2025), “Geopolitics and foreign holdings of euro area government debt”, Special Feature A, The international role of the euro, European Central Bank, June.

    Brandt, L, A Saint Guilhem, M Schröder and I Van Robays (2026), “What drives euro area financial market developments? The role of US spillovers and global risk”, International Journal of Central Banking, forthcoming.

    Chen, Y, J Fang and D Liu (2023), “The effects of Trump’s trade war on U.S. financial markets”, Journal of International Money and Finance 134.

    Domenech Palacios, M, M Grothe, P McQuade, M Ricci and J Vendrell Simón (2025), “How spillovers from US developments differ across euro area equity sectors”, Box A in Special Feature B, Risks to euro area financial stability from trade tensions, Financial Stability Review, May.

    Hartley, J and A Rebucci (2025), “Tariffs, the dollar, and equities: High-frequency evidence from the Liberation Day announcement”, VoxEU.org, 15 April.

    Jiang, Z, A Krishnamurthy and H Lustig (2021), “Foreign safe asset demand and the dollar exchange rate”, Journal of Finance 76(3): 1049-1089.

    Jiang, Z, A Krishnamurthy, H Lustig, R Richmond and C Xu (2025a), “Dollar upheaval: this time is different”, Working paper.

    Jiang, Z, H Lustig, S Van Nieuwerburgh, Z Chen and M Xiaolan (2025b), “Exorbitant privilege gained and lost: fiscal implications”, Journal of Political Economy.

    Jiang, Z, R Richmond and T Zhang (2025c), “Convenience lost”, Working paper.

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  • [Next-Generation Communications Leadership Interview ②] Charting the Course to 6G Standardization With a Unified Vision – Samsung Global Newsroom

    [Next-Generation Communications Leadership Interview ②] Charting the Course to 6G Standardization With a Unified Vision – Samsung Global Newsroom

    Part two of the interview series covers Samsung’s expanding influence in global 6G standardization efforts, with a focus on establishing consensus in the communications industry

    Samsung Newsroom interviews Dr. Younsun Kim, Master at Samsung Electronics’ Technology Standards Research Team and Chair of 3GPP RAN

    Discussions on 6G standardization are now in full swing. With the goal of achieving commercialization by 2030, major international standardization bodies, including the 3rd Generation Partnership Project (3GPP), have started addressing 6G-related technology agendas this year and have begun formal work on technical standardization.

     

    In this context, Dr. Younsun Kim, Master at Samsung Electronics’ Technology Standards Research Team, was elected Chair of the 3GPP Technical Specification Group Radio Access Network (TSG RAN) in March, marking the first time a Korean has taken on the role. As Chair, Dr. Kim is expected to play a pivotal role in shaping next-generation communications standards in this early and formative phase.

     

    Following part one of this interview series, Samsung Newsroom sat down with Dr. Kim for part two to explore the strategic challenges and opportunities he faces in his leadership roles at 3GPP and Samsung Research, as well as his vision for the future of 6G standardization.

     

    ▲ Dr. Younsun Kim, Master at Samsung Electronics’ Technology Standards Research Team

     

     

    Full-Scale Launch of 6G Technical Standardization Efforts in 2025

    In 2023, the International Telecommunication Union Radiocommunication Sector (ITU-R) released the 6G Framework, outlining the overarching direction for future communications technologies. By 2026, the organization aims to finalize both the technical requirements and evaluation methods for candidate technologies.

     

    In line with this timeline, 3GPP held a 6G workshop in Korea this past March, officially marking the start of formal standardization efforts. TSG RAN — currently chaired by Dr. Kim — plays a central role in this process, accounting for a major portion of patents associated with global communication standards.

     

    “During the June meeting — the first meeting I chaired since taking on the role — we approved the 6G Study Item,1 the official starting point of 6G technology research,” said Dr. Kim. “We’ve now entered the phase of closely evaluating the performance enhancement potentials of candidate technologies. Based on these findings, the roadmap and timeline for 6G specifications are expected to be finalized by June of next year.”

     

    ▲ 6G standardization roadmap

     

    6G development is currently in the stage of establishing use cases and technical requirements, which lays the groundwork for detailed research on candidate technologies. This research is expected to continue for approximately two years, through mid-2027. After that, the process will formally transition to the standard specification development phase, known as the Work Item,2 with the first set of official 6G specifications projected to be completed by mid-2029.

     

     

    Consensus-Building: The Core of Standardization Leadership

    Dr. Kim is an industry veteran who began his work on mobile-communication physical-layer standardization in 1999. Over the past 26 years, he has been involved in standardization activities across multiple generations from 3G to 6G. In 2017, he was appointed Vice Chair of RAN1, one of the working groups within 3GPP TSG RAN, and became Chair of RAN1 in 2021, where he led the development of the initial 5G standards and subsequent discussions to further advance 5G standardization. Since being elected Chair of the 3GPP TSG RAN in March, he now oversees all RAN-related standardization discussions.

     

    ▲ The journey from 3G to 6G standardization

     

    “As RAN1 Chair, I mainly approached the decision making process from a technical perspective. Even when discussions were intense, decisions could ultimately be made based on technical merit or evidence,” said Dr. Kim. “But now, overseeing the entire scope of RAN standardization, I find that many issues can no longer be resolved just based on technical aspects alone.”

     

    3GPP is a global partnership project comprising more than 800 member organizations from 43 countries. With such a wide range of stakeholders — each bringing their own needs, strategies, and technical proposals — the Chair plays a crucial role in shaping the technical agenda, mediating conflicting viewpoints, and guiding the overall direction of discussions.

     

    ▲ (Left) Dr. Younsun Kim presides over a 3GPP TSG RAN meeting; (Right) Attendees engage in the meeting proceedings.

     

    “One of the Chair’s key responsibilities is to lead discussions on future work scope of RAN working groups and coordinate development timelines. The role also involves setting technical priorities and steering dialogue in the right direction,” Dr. Kim explained. “That said, since 3GPP operates based on consensus, decisions are made only when a shared understanding is reached among participating companies.”

     

     

    The Need for Balance That Goes Beyond Corporate and National Interests

    Building consensus is no easy task. As the focal point of standardization discussions, the Chair must act as both a trusted architect and an impartial mediator, capable of reconciling a wide range of interests. The role demands a global perspective and strong sense of balance that transcend corporate or national affiliations.

     

    “The foremost duty of the Chair is to build a structure that partners can trust and rally behind,” said Dr. Kim. “Driving consensus requires the ability to understand differing regional and business perspectives — and to craft workable compromises. Over the next four years, I’ll focus on deepening engagement with member companies and gaining a fuller understanding of their views.”

     

     

    As the first Korean to chair the 3GPP TSG RAN, Dr. Kim is a true trailblazer. His leadership not only marks a personal milestone but also reflects Samsung Electronics’ growing influence across the global standardization landscape. Backed by the company’s technological expertise, Dr. Kim is helping carry forward Samsung’s legacy of innovation on the world stage as the industry turns its focus to how the 6G standard will take shape in the years ahead.

     

    In part three of this series, Samsung Newsroom will explore AI-RAN, a next-generation communications technology poised to reshape the industry, and highlight Samsung’s research initiatives aimed at establishing it as a global standard.

     

     

    1 A preliminary research phase focused on evaluating the technical feasibility and performance of candidate 6G technologies before formal specification begins.
    2 A formal development phase in which technologies identified during the Study Item are further refined, specified and incorporated into official standard specifications.

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  • Oasis and the ‘lipstick effect’ raised spending in July

    Oasis and the ‘lipstick effect’ raised spending in July

    The “lipstick effect” helped to propel spending last month as shoppers sought out affordable luxuries amid stubborn inflation, a survey on Tuesday showed.

    Card transactions were also lifted by the Oasis tour and consumers looking to refresh their summer wardrobes during a period of changeable weather.

    According to Barclays, which monitors 40 per cent of all card transactions in the UK, sales increased by 1.4 per cent in July on a yearly basis, rebounding from the 0.1 per cent decline in June. Although consumption rose quickly last month, it was not as quick as the latest inflation reading of 3.6 per cent for June.

    Strong spending on entertainment fuelled the overall rise in card transactions, the result of the Oasis gigs in Cardiff, Manchester and London in July. Barclays also said that the busiest day of spending on entertainment was July 10, when tickets for Lewis Capaldi’s 2025 tour went on sale.

    Cinema transactions rose by 1.6 per cent last month, coinciding with the release of the summer blockbuster Jurassic World Rebirth. The release of the live action remake of the Disney favourite Lilo and Stitch and the second Happy Gilmore film helped to boost subscription spending by 8 per cent last month.

    Researchers at Barclays said that clothing sales jumped by 4.2 per cent in the year to July, the steepest increase since September 2024. This was motivated by a period of unsettled weather in July, with warm dry spells counteracted by successive rainy and windy days in the month. A quarter of people surveyed by Barclays said that July’s changeable weather had motivated clothing purchases.

    Retail card transactions increased by 1.9 per cent, up from June’s small improvement of 0.2 per cent. Spending on essentials contracted by 0.7 per cent but discretionary consumption leapt by 2.4 per cent, mainly as a result of stronger demand for clothing.

    Analysts at Barclays also said their research indicated that shoppers bought small, more affordable luxury beauty products, a behaviour known as the “lipstick effect” typically seen during periods of high inflation. Pharmacy and health and beauty spending rose by 9.8 per cent. Furniture sales increased by 6.7 per cent, the eighth consecutive month of growth.

    Karen Johnson, head of retail at Barclays, said: “The summer sales, changeable weather and shoppers seeking the feelgood factor led to a strong July for retailers, particularly among beauty, clothing and furniture stores.”

    Separate research by the lender found that younger consumers were increasingly using AI tools, such as ChatGPT or Gemini, to help them to manage their finances. According to Barclays 35 per cent of UK adults told the lender that they had used such devices to aid budgeting and spending. This rose to 69 per cent among Gen Z, or those aged between 13 and 28.

    The UK economy has lost momentum since the start of the year, with GDP down by 0.3 per cent in April and 0.1 per cent in May, partly owing to weak consumer spending during a time of high saving rates.

    Last week the Bank of England cut interest rates for the fifth time in a year to 4 per cent from 4.25 per cent, although investors think that there may only be one more rate reduction before the end of 2025. Lower interest rates paid on savings motivate people to spend.

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  • Thousands of men ‘should avoid unnecessary treatment’ for prostate cancer – The Times

    Thousands of men ‘should avoid unnecessary treatment’ for prostate cancer – The Times

    1. Thousands of men ‘should avoid unnecessary treatment’ for prostate cancer  The Times
    2. Thousands of men with prostate cancer facing unnecessary overtreatment, experts warn  The Independent
    3. London: Outdated NHS guidance leads to unnecessary treatment of men with prostate cancer  bgnes.com
    4. Out of date NHS guidance ‘preventing prostate cancer screening’  The Telegraph
    5. Swindon researcher raises concerns over prostate cancer treatment contradictions  Rayo

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  • Apple Cinemas Addresses Trademark Dispute with Apple Inc. – Business Wire

    1. Apple Cinemas Addresses Trademark Dispute with Apple Inc.  Business Wire
    2. Apple’s cinema lawsuit might seem ironic, but it was inevitable  Creative Bloq
    3. Apple Sues Movie Theater Chain With Same Name As Exhibitor Plans Expansion  The Hollywood Reporter
    4. Apple Cinemas Won’t Back Down in Trademark Battle with Apple  MacRumors
    5. Why Apple has sued San Francisco’s newest movie theater  MSN

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  • Trump picks new head for Bureau of Labor Statistics

    Trump picks new head for Bureau of Labor Statistics

    US President Donald Trump has picked an economist at a conservative think tank to lead the Bureau of Labor Statistics (BLS), after firing its previous commissioner this month following weaker-than-expected jobs data.

    The president said he was nominating EJ Antoni, a federal budget analyst with the Heritage Foundation, to be commissioner of one of America’s most important economic institutions.

    “Our Economy is booming, and E.J. will ensure that the Numbers released are HONEST and ACCURATE,” he posted on Truth Social.

    Earlier in August Trump fired BLS Commissioner Erika McEntarfer, accusing her of having “rigged” jobs figures to make him look bad – a claim rejected by several other economists.

    She was fired after BLS figures this month showing that employers in the US added just 73,000 jobs in July, far below forecasts of 109,000 new roles, stoked alarm about Trump’s tariff policy.

    The agency also revised down employment growth in May and June, reporting 250,000 fewer jobs than previously thought. It was the largest downward revision in employment figures – apart from the Covid-era – since 1979.

    Although the revisions were bigger than usual, it is normal for the initial monthly number to be changed as more data comes to light.

    McEntarfer worked for the government for more than 20 years before being nominated by Biden to lead the BLS in 2023.

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  • Cristiano Ronaldo proposes to longtime girlfriend Georgina Rodríguez with massive engagement ring

    Cristiano Ronaldo proposes to longtime girlfriend Georgina Rodríguez with massive engagement ring

    Cristiano Ronaldo put a (huge) ring on it.

    The soccer superstar has gotten engaged to his longtime girlfriend Georgina Rodríguez. Rodríguez shared the engagement news on Instagram Monday, posting a picture of a gigantic diamond ring on her left hand.

    “Yes, I do,” Rodríguez wrote in a caption translated from Spanish. “In this and in all lives.”

    Ronaldo and Rodríguez met in 2016 at a Gucci store in Madrid, Spain, where Rodríguez worked at the time. They began dating shortly after, going public with their relationship in 2017.

    The couple welcomed their first child, daughter Alana, in November 2017. They then had twins, daughter Bella and son Ángel, in April 2022, but Ángel tragically died at birth.

    Rodríguez has also helped raise Ronaldo’s three other children — Cristiano Jr., who was born in June 2010, and twins Eva and Mateo, a daughter and son born via surrogate in June 2017.

    Ronaldo, 40, is entering his fourth season with Saudi Pro League club Al-Nassr. The former Real Madrid, Manchester United and Juventus star is a five-time Ballon d’Or winner who’s hoisted five Champions League trophies. He also won a European championship with Portugal in 2016.

    Ronaldo is soccer’s all-time leading goal scorer at both the international level with 138 goals and overall with over 930 combined career goals between club and country.

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  • Natanael Cano Destroys Laptop, Fights DJ During Baja Beach Fest Set

    Natanael Cano Destroys Laptop, Fights DJ During Baja Beach Fest Set

    Natanael Cano hit a DJ, destroyed his laptop, and used a racial slur onstage at Baja Beach Fest early Monday morning. During his headlining performance, the corridos tumbados star attacked the DJ after alleged “numerous mistakes” during his set, a source tells Rolling Stone.

    In several videos posted to social media, Cano could be seen physically attacking the DJ and saying, “Get out of the way, I came to sing here, dumbass… This asshole, I’m going to kick his ass. He hit me.” Later, Cano was captured grabbing what appeared to be the DJ’s laptop, taunted the crowd with destroying it, and then flung the device onto the stage platform before stomping on it multiple times, showing off its cracked screen.

    “What’s happening? Stop that,” he said in a clip right before the altercation. “Son of a bitch. Fuck that shit, n—a. I’ll fuck him up and fire him.” Cano joked about stopping the music because he didn’t have whiskey in his hand. “Let’s see, motherfucker… fuck n—a, what the fuck.” In another clip, he’s captured repeating, “Fuck, n—a, what the fuck… Oh my god, n—a. Stop!”

    A rep for the singer did not have any comment for Rolling Stone when reached about the usage of the racial slur onstage.

    A source close to Cano tells Rolling Stone that there was an “ongoing issue” with the DJ throughout the set, and that the artist had flagged “numerous mistakes” throughout his performance before the incident. “He was vocalizing the issues before it drove him to escalate the situation,” the source tells Rolling Stone. “He hit a breaking point.”

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    In a public statement, Los CT, Cano’s label, addressed the situation, though it did not apologize for the singer’s actions. “On behalf of Los CT, we wish to clarify that neither the staff nor the production team of Baja Beach Festival had any involvement in the incident that occurred last night during Natanael Cano’s performance,” the statement read.

    The situation with Cano came after a weekend of star-studded performances at the festival, including headlining sets from J Balvin, Don Omar, and Maluma. Young Miko, Anitta, Wisin, Myke Towers, Belssd, and Tito Double P also performed at the Rosarito Beach event. Baja Beach Fest did not respond to Rolling Stone‘s request for comment on the incident.

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  • Increasing the danger: Journalist killing in Gaza sends a chilling message

    Increasing the danger: Journalist killing in Gaza sends a chilling message

    ‘He was our eyes’: Global outcry over killing of Al Jazeera journalist by Israeli forces


    LONDON: Condemnation is mounting worldwide after Israeli forces killed prominent Al Jazeera journalist Anas Al-Sharif and four of his colleagues in Gaza, with fellow reporters, rights groups and officials accusing Israel of deliberately targeting the reporter for his coverage.


    Al-Sharif was killed alongside reporter Mohammed Qreiqeh and camera operators Ibrahim Zaher, Mohammed Noufal and Moamen Aliwa when an Israeli strike hit their tent in Gaza on Sunday.


    Gaza’s civil defense agency said the strike also killed a Palestinian freelance journalist, Mohammed Al-Khaldi, who had succumbed to his wounds, bringing the total to six.


    The IDF has admitted to carrying out the attack, and justified it by alleging Al-Sharif was a “terrorist.”


    Reporters Without Borders condemned what it called the “acknowledged murder” of one of Al Jazeera’s most prominent correspondents in Gaza, noting that the Israeli Defence Forces openly targeted him and others.


    The Committee to Protect Journalists said it was “appalled” by the killing, stressing that Israeli claims of Al- Sharif’s Hamas membership lacked evidence.


    “Israel’s pattern of labeling journalists as militants without providing credible evidence raises serious questions about its intent and respect for press freedom,” said Sara Qudah, the CPJ’s director for the Middle East and North Africa.


    The office of UN High Commissioner for Human Rights Volker Turk issued a similar condemnation on Monday, saying Israel’s targeted killing of six journalists in Gaza was a “grave breach of international humanitarian law.”


    Al-Sharif’s death came weeks after the CPJ and other organizations had warned of threats against him, following a post by IDF spokesperson Avichai Adraee on X accusing him of belonging to Hamas’ military wing.


    The UN Special Rapporteur on freedom of expression Irene Khan at the time called the claim “unsubstantiated” and “a blatant assault on journalists.”


    On Sunday night, the IDF repeated its allegations, claiming Al-Sharif was “head of a Hamas terrorist cell” and had orchestrated rocket attacks on Israeli civilians and troops while “posing as an Al Jazeera journalist.”


    It cited “intelligence and documents from Gaza” — including rosters, training lists, and salary records — none of which Arab News could independently verify.


    Israel has often been accused of making similar claims without substantiation, a pattern critics say is reinforced by the inability of independent foreign journalists to enter Gaza.


    Israeli Prime Minister Benjamin Netanyahu announced plans on Sunday to allow some foreign reporters into the enclave, but only under military escort — a condition that press freedom groups warn would compromise journalistic independence.


    Since the start of Israel’s 22-month siege of Gaza, Tel Aviv has killed nearly 200 journalists, with rights groups documenting cases of what they describe as direct, intentional strikes that could amount to war crimes.


    Tributes to Al-Sharif, Qreiqeh, Zaher, Noufal and Aliwa have poured in, with many demanding accountability.


    Speaking to Al Jazeera, Ken Roth, the former executive director of Human Rights Watch, said silencing coverage of atrocities is a “despicable rationale” for killing journalists.


    “This was a targeted killing,” Roth said. Israel’s “unsubstantiated, unilateral accusations” that Al-Sharif led a unit of Hamas “are worthless.”


    “And when you couple that with the pattern of harassment against him, the efforts to silence him, it’s clear what’s going on,” Roth added.


    Barry Malone, a former Al Jazeera editor and Reuters correspondent, described Al-Sharif as “our eyes” in Gaza, bringing “special emotion and depth” to his reporting.


    Pulitzer Prize–winning Palestinian poet and former Israeli detainee Mosab Abu Toha accused Western media of a “deafening silence.” He said “not one of them voiced concern for the safety of Anas, or for the lives of the journalists systematically targeted and killed.”


    “This silence is not neutrality. It is complicity,” he added in a post on X.


    US Representative Pramila Jayapal also condemned the killing, urging Washington to halt arms supplies to Israel.


    Al-Sharif’s final message, written on April 6 and published posthumously, was addressed to his wife, Umm Salah (Bayan), his son, Salah, and his loved ones. In the message he urged for the liberation of Palestine.


    “This is my will and my final message. If these words reach you, know that Israel has succeeded in killing me and silencing my voice.


    “I have lived through pain in all its details, tasted suffering and loss many times, yet I never once hesitated to convey the truth as it is, without distortion or falsification.


    “Do not forget Gaza … And do not forget me in your sincere prayers for forgiveness and acceptance.”


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