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  • Trump’s Attack on the Pope Leaves Colbert, Kimmel in Disbelief: ‘Not Even Hitler or Mussolini Attacked the Pope So Directly and Publicly, According to One Historian’

    Trump’s Attack on the Pope Leaves Colbert, Kimmel in Disbelief: ‘Not Even Hitler or Mussolini Attacked the Pope So Directly and Publicly, According to One Historian’

    Donald Trump‘s social media post attacking Pope Leo XIV as “weak” left late-night hosts Stephen Colbert and Jimmy Kimmel in disbelief during their respective April 13 episodes. Both men regularly bash Trump during their monologues, but the president’s tirade against the Pope left them puzzled to the point of near-speechlessness.

    “According to one Italian religious historian, not even Hitler or Mussolini attacked the Pope so directly and publicly,” Colbert told his viewers before quipping: “It’s never great when someone says, ‘You should really be more discreet and respectful. You know, like Hitler.’”

    Pope Leo has publicly opposed the war in Iran as well as Trump’s immigration policy, which prompted Trump’s meltdown. The president posted on Truth Social: “Pope Leo is WEAK on Crime, and terrible for Foreign Policy … I don’t want a Pope who thinks it’s OK for Iran to have a Nuclear Weapon. I don’t want a Pope who thinks it’s terrible that America attacked Venezuela, a Country that was sending massive amounts of Drugs into the United States and, even worse, emptying their prisons, including murderers, drug dealers, and killers, into our Country. And I don’t want a Pope who criticizes the President of the United States because I’m doing exactly what I was elected, IN A LANDSLIDE, to do, setting Record Low Numbers in Crime, and creating the Greatest Stock Market in History.”

    The post prompted Kimmel to ask: “What does the pope have to do with crime? He’s not Batman, he’s the pope. This is what happens when you sell Bibles instead of reading them… We have a fight between the president and the Pope. The world has become a real life episode of ‘South Park.’”

    Trump courted even more backlash when he followed up his tirade by posting an AI-generated image of that many interpreted to depict Trump as Jesus Christ. The backlash was widespread and instant, with Trump later removing the post from his Truth Social account and claiming that he thought he was depicted as a doctor.

    “So, Donald Trump wants us to believe that he thought this was a doctor,” Colbert fired back, calling it “quite the excuse” from the president and adding: “If I’m in a doctor’s office and that man walks in, I’m thinking I died.”

    Trump’s excuse also caused disbelief from Jon Stewart, who asked during his April 13 episode “The Daily Show”: “Do you even care about lying to us anymore? Is this over? Has this relationship gone stale? Your lies used to have a real spark… And now the best you’ve got is, ‘Eh, no, I wasn’t Jesus. I’m a doctor!’ You need to go back and find your happy place and fast.”

  • Bitcoin (BTC) is Rising, But It Will Be Temporary! Analyst Reveals the Level He Expects for the Real Bottom!

    Bitcoin (BTC) is Rising, But It Will Be Temporary! Analyst Reveals the Level He Expects for the Real Bottom!

    As tensions between the US and Iran in the Middle East continue unabated, Bitcoin ($BTC) remains strong.

    Bitcoin, although it fell to the $70,000 level after the first talks between the US and Iran over the weekend ended without a result, has risen again to the $74,000 level.

    This rise was influenced by news that a second round of talks between the two countries would begin and by growing expectations that the Bank of Japan would not raise interest rates this month.

    While Bitcoin is trying to remain strong amidst recent developments, some analysts predict that $BTC could fall to $50,000 before experiencing a sustainable recovery.

    At this point, LVRG Research Director Nick Ruck predicts that the $50,000 level could be the last major buying opportunity before a real recovery begins.

    Ruck stated that Bitcoin’s price falling to these levels would represent a healthy cycle reset, given the broader economic pressures and weak capital flows into cryptocurrencies.

    Ruck also stated that Bitcoin has fallen by approximately 40% from its recent all-time high, with significant participation from institutional investors, a smaller drop than in previous bear markets. In this context, Ruck noted that the current bear market has its own unique macro-structural characteristics, arguing that for these reasons, a drop of more than 60% might not occur in this cycle.

    Aside from Nick Ruck, Bitcoin investor and analyst Ivan Liljeqvist also stated that Bitcoin has not yet reached its bottom.

    “I don’t think we’ve hit the bottom yet, and I don’t think $60,000 is the bottom. The trend is still downward. There’s no bullish momentum right now.”

    *This is not investment advice.

  • Visa throws its weight behind Stripe’s Tempo blockchain

    Visa throws its weight behind Stripe’s Tempo blockchain

    Visa (V) has made its first foray into running blockchain infrastructure, the company said on Tuesday, operating as an “anchor validator” node on the Stripe-backed Tempo blockchain.

    Visa, a long-time collaborator of the payments services provider, configured and managed the validator node entirely in-house, following six months of joint work with Tempo’s engineering team to integrate the card giant’s infrastructure directly into the blockchain, according to a press release.

    Visa plans to run nodes on some other blockchains following the Tempo integration. The card network had previously said it will join the Canton Network, where there are plans to serve as a “Super Validator.”

    For the past seven years or so, Visa’s blockchain engineers have been “living and breathing stablecoins,” said the head of Visa’s crypto team, Cuy Sheffield. Now the focus is on supporting the evolution of new payment flows such as machine-to-machine commerce using AI agents, he added.

    “We’ve been an early design partner, working very closely with the Tempo team, looking at designing infrastructure that can support many types of new payment flows, and particularly agentic payment flows,” Sheffield said in an interview with CoinDesk.

    Tempo, which is also backed by crypto investment firm Paradigm, went live last month with Machine Payments Protocol (MPP), a protocol that lets software and AI agents pay for services autonomously.

    “Visa is a big part of MPP,” Sheffield said. “We added the MPP card spec. We announced Visa CLI, which is a wallet that is built on top of MPP where agents can use a Visa card to be able to spend. So we’ve been deeply involved in the Tempo and the MPP ecosystem, and now we’re running the underlying infrastructure on Tempo.”

    There’s no doubting Stripe’s conviction when it comes to assembling an end-to-end blockchain-based system for stablecoin payments. But, taking a step back, some people might question how open and decentralized such a system is.

    Sheffield, in response, said Visa is simply being pragmatic, looking for products that can drive payment volume.

    “Our view has always been that decentralization is a spectrum,” Sheffield said. “There are many use cases where decentralization for the sake of decentralization doesn’t solve a problem. I think we’re now entering a phase in the crypto industry where decentralization is not the primary value prop. It’s whether a new payment infrastructure is fast, efficient, programmable and can outperform some existing payment infrastructure for certain use cases.”

    Stripe moved into the stablecoin industry when it acquired stablecoin specialist Bridge for $1.1 billion in 2024. Earlier this year, Mastercard made a similar move, buying stablecoin firm BVNK for $1.8 billion.

    Asked if Visa had any plans to offer its own stablecoin, Sheffield said:

    “It’s so early and the rules haven’t even been fully written yet. We spent a bunch of time with the OCC (Office of the Comptroller of the Currency) and others,” he said. “I think there are many different roles that Visa can play, but everything we do, we want to make sure that we’re doing it in partnership with our clients and our network.”

  • Indonesia, US sign ‘major’ defence cooperation agreement

    Indonesia, US sign ‘major’ defence cooperation agreement

    Signing of defence partnership follows reports that Washington is seeking overflight access in Indonesia for US military planes.

    ⁠US ⁠Secretary of Defense Pete Hegseth ⁠has hailed the establishment of a “major defence cooperation partnership” with Indonesia, saying it underscores the “strength and potential” of ties with Jakarta to maintain stability in the Asia Pacific region.

    Hegseth hosted Indonesian Minister of Defence Sjafrie Sjamsoeddin at the Pentagon on Monday, where the deal was signed.

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    “This [partnership] signifies the strength and potential of our security relationship… bolsters regional deterrence, and advances our shared commitment to peace through strength,” Hegeseth said, according to a Defense Department statement.

    The US defence secretary also said Washington and Jakarta’s security relationship was “active and growing”, noting that both countries’ armed forces participate in more than 170 military exercises together each year.

    A joint statement on the new partnership said the two sides had agreed to work on co-developing “sophisticated asymmetric capabilities, pioneering next-generation defence technologies in the maritime, subsurface and autonomous systems domains”, and improving operational readiness.

    “We are here as Indonesian delegates… with very great enthusiasm to continue to develop our defence relationship, [which] should be enduring for our next generation in Indonesia and the United States of America,” Sjafrie was quoted as saying.

    “We’re working on behalf of mutual respect and mutual benefit to enhance [the] value of our national interests,” he added.

    The signing of the partnership comes a day after reports in Indonesia that both countries are discussing a proposal to ⁠give US military aircraft access to Indonesian airspace.

     

    The US is seeking “blanket” overflight access for military aircraft through Indonesian airspace, several ‌media outlets reported on Sunday, adding that Indonesian President Prabowo Subianto had approved the proposal.

    Responding to the reports, the Ministry of Defence in Jakarta said in a statement that the two countries are still discussing a “Letter of ⁠Intent”, and only a preliminary draft on overflight was being discussed internally. The draft is neither final nor binding, the ⁠ministry added.

    Control over Indonesian airspace belongs to Indonesia, the Defence Ministry added, saying that deals ⁠with other countries would protect Indonesia’s sovereignty and adhere to Indonesian law.

    “The deal is not final. It is not legally binding. It cannot be used as a basis for official government policy,” Defence Minister Sjafrie’s spokesman, Rico Ricardo Sirait, told the Jakarta Globe.

    “Authority, control, and oversight over Indonesian airspace rest entirely in our country. Any potential regulation shall guarantee Indonesia’s full authority to approve or reject any activity in national airspace,” he told the news outlet.

    Prabowo is due to meet his French counterpart, Emmanuel Macron, in Paris on Tuesday, just a day after he held talks with Russia’s Vladimir Putin about oil, the government in Jakarta said, according to the AFP news agency.

    Last month, Prabowo’s government announced fuel rationing and mandated a day-per-week work-from-home policy for civil servants to conserve energy stocks as prices surge amid the US-Israel war on Iran.

  • ‘We Will Not Pay These Criminals’: Crypto Exchange Kraken Is Being Extorted Over Stolen Data

    ‘We Will Not Pay These Criminals’: Crypto Exchange Kraken Is Being Extorted Over Stolen Data

    In brief

    • Kraken is being extorted for an undisclosed sum by criminals that have access to customer data.
    • The firm’s security executive said it will not negotiate or pay the criminals.
    • The exchange is working with law enforcement, and believes it has sufficient evidence to identify and arrest those responsible.

    A criminal group is threatening to release stolen customer data from crypto exchange Kraken, the firm reported Monday, publicly disclosing the conflict via social media.

    “We will not pay these criminals; we will not ever negotiate with bad actors,” Kraken Chief Security Officer Nick Percoco posted on X.

    “We are currently being extorted by a criminal group threatening to release videos of our internal systems with client data shown if we do not comply with their demands,” Percoco added. “We are actively working with federal law enforcement across multiple jurisdictions to pursue all individuals involved and bring them to justice.”

    According to Percoco, the firm recently received a tip that a video was made showcasing sensitive customer information from its internal systems. That tip follows a February 2025 security incident in which a similar video, containing customer information, was shared on a “criminal forum.” 

    In each instance, the individual involved from within the company was identified. No customer funds were at risk, Percoco said, and internal systems were not breached. 

    “Since then, we have been collaborating with industry partners and law enforcement to investigate and disrupt insider recruitment efforts targeting not only crypto companies, but also gaming and telecommunications organizations,” said Percoco. 

    The firm’s security executive approximated that around 2,000 individuals potentially had their information viewed, and anyone at risk has already been contacted. The criminals are allegedly threatening to share that information with local media and across social media networks if Kraken does not comply with their demands. 

    Additional details about the incident are not being shared by the firm at the time, due to the ongoing investigation. A representative for the firm did not immediately respond to Decrypt’s requests for comment.

    In his statement, Percoco said he believes there is sufficient evidence to identify and arrest the malicious actors. 

    The extortion attempt comes at a time when wrench attacks, or physical attacks in order to gain access to a victim’s crypto holdings, have jumped more than 75% year-over-year. Last year alone, more than $40 million in confirmed losses were attributed to wrench attacks, according to a report from CertiK, following headlines detailing grisly attacks on industry workers and investors.

    Kraken confidentially filed for IPO in November of last year, but quietly delayed those plans this year due to difficult crypto market conditions, according to a March report from CoinDesk.

    Last year, its publicly traded competitor Coinbase indicated that it had suffered a major data breach that impacted more than 69,000 customers at the end of 2024. The exploit was the result of criminals bribing Coinbase’s customer support agents for access to names, addresses, and more.

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  • World faces food ‘catastrophe’ if Strait of Hormuz disruption persists: FAO

    World faces food ‘catastrophe’ if Strait of Hormuz disruption persists: FAO

    Global agriculture is highly exposed to the waterway blockage, risking higher commodity prices and food inflation.

    A prolonged disruption in the Strait of Hormuz could result in a global food “catastrophe”, the Food and Agriculture Organization (FAO) has warned, as shipments of critical agricultural inputs remain blocked in the key waterway due to the US-Israel war on Iran.

    Food prices have not risen yet because existing stocks are absorbing the shock, the United Nations body’s chief economist, Maximo Torero, said in an interview on Monday, alongside David Laborde, director of FAO’s agrifood economics division.

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    But if traffic through the strait does not resume, the shocks to energy and fertiliser markets will translate into higher commodity and retail prices later this year and into 2027, Laborde added.

    Exports of 20 to 45 percent of key agrifood inputs rely on sea passage through the Strait of Hormuz, according to the FAO.

    “We are in an input crisis; we don’t want to make it a catastrophe,” said Laborde. “The difference depends on the actions we take.”

    “Right now, we don’t have a food crisis because we have food availability,” Torero added, noting that the increase in gas and oil prices has not translated yet into higher costs for bread and wheat, for example, thanks to ample supplies coming out of a good harvest season. “But this is now,” the economist said.

    Fertilisers

    Nearly half of the world’s traded urea – the most widely used fertiliser – and large volumes of other fertilisers are exported from Gulf countries via the Strait of Hormuz, making global agriculture highly exposed to any disruption there.

    Recent disruptions to gas supplies and shipping have already forced fertiliser plants, which use natural gas to manufacture fertiliser, in the Gulf and beyond to shut or cut their output.

    Should traffic continue to stall in the chokepoint, farmers will be forced to produce with less fertiliser or increase the cost of their product, Torero said.

    “This is why it’s so essential that the ceasefire continue and is so essential that it is not just a ceasefire, but also that vessels start moving,” he said. “The clock is ticking.”

    Torero added that poorer countries were most exposed because planting calendars meant delays in access to key inputs could quickly translate into lower output, higher inflation and slower global growth.

    Iran has brought traffic through the strait to a near-total halt in response to attacks from the United States and Israel, which launched a war on Tehran on February 28, killing Supreme Leader Ayatollah Ali Khamenei.

    The move has triggered a global energy crisis, doubling at times the prices of oil and gas compared with pre-war levels.

    Over the weekend, Iranian and US representatives held a 21-hour marathon negotiation to reach an agreement for a permanent ceasefire, but failed to achieve a breakthrough.

    US President Donald Trump then decided to impose a naval blockade on the strait. He said the navy would hunt down and interdict ships in international waters that had paid Iran a toll to traverse the strait.

    Later, the US military said it would block all maritime traffic entering and exiting Iranian ports, including those in the Gulf and the Gulf of Oman.

  • Iran slams YouTube ban on pro-Iranian group’s Lego-style AI videos

    Iran slams YouTube ban on pro-Iranian group’s Lego-style AI videos

    Iran’s Foreign Ministry spokesman says the move aims to ‘suppress the truth about their illegal war on Iran’.

    Iran has condemned a ban imposed by YouTube on a pro-Iranian group that releases Lego-style artificial intelligence videos after posting one lampooning United States President Donald Trump and declaring “Iran won” last week.

    Explosive Media said on X last week that YouTube suspended its account for “violent content”, while the group’s other online accounts appeared unaffected.

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    “Seriously! Are our LEGO-style animations actually violent?” Explosive Media asked, in its post on Friday.

    Ministry of Foreign Affairs spokesman Esmaeil Baghaei said the ban was a move to suppress “the truth” about the US-Israel war on Iran.

    “In a land that proudly hosts Pixar, DreamWorks Animation, and The Walt Disney Company, an independent animated YouTube channel – which had organically grown by depicting U.S. aggression & warmongering, and garnered millions of viewers – was abruptly shut down!! Why?!” he posted on X on Monday.

    Baghaei added: “Simply to suppress the truth about their ‘illegal war’ on Iran and shield the American administration’s false narrative from any competing voice.”

    Meme videos on Trump

    Explosive Media, a group of pro-Iran creators that describes itself as independent but is widely suspected of having ties to the Iranian government, has produced a series of such videos that have racked up millions of views during the conflict.

    “The way to crush imperialism has been shown to the world. Trump surrendered. IRAN WON,” read the caption of its video on X after the two-week ceasefire agreement was announced on April 7.

    “TACO will always remain TACO,” it added, referring to the acronym “Trump always chickens out”.

    Another clip on X depicted Trump – caricatured with an oversized yellow head and a flaming backside – holding a sign that read: “VICTORY! I am a loser.”

    Explosive Media, whose videos often tap into US popular culture, seems to be portraying Trump as old, isolated, and prone to childish tantrums, seemingly disconnected from reality.

  • Cannes’ Directors’ Fortnight Lineup: ‘Butterfly Jam’ Starring Barry Keoghan and Riley Keough, Radu Jude’s Next Film and More

    Cannes’ Directors’ Fortnight Lineup: ‘Butterfly Jam’ Starring Barry Keoghan and Riley Keough, Radu Jude’s Next Film and More

    Directors‘ Fortnight, the independent sidebar competition that runs alongside the Cannes Film Festival, is adding a splash of star power to its 58th edition, alongside some major filmmaking names from the world of independent cinema.

    Heading a typically eclectic lineup, the 2026 event is opening with “Butterly Fly,” the English-language debut from Kantemir Balagov, the Russian director behind the acclaimed 2019 drama “Beanpole.” The film, set in a tight-knit U.S. community of Circassian immigrants, stars Barry Keoghan, Riley Keough, Harry Melling and Monica Bellucci.

    Elsewhere, Romanian auteur Radu Jude returns with a quick-fire following up to last year’s “Dracula” with his adaptation of Octave Mirbeau’s “The Diary of a Chambermaid,” starring Ana Dumitrascu, Vincent Macaigne and Mélanie Thierry.

    From the U.S., Reed Van Dyk brings his debut feature “Atonement,” starring Kenneth Branagh, Hiam Abbass, and Boyd Holbrook. Set during the early days of the Iraq War and inspired by real events, the film follows a U.S. marine’s attempts to reconcile with the survivor of a firefight that devastated an Iraqi family.

    Thanks to Directors’ Fortnight, Clio Barnard becomes the solitary British filmmaker in the Cannes lineup. The celebrated indie director returns to the competition for a third time with “I See Buildings Fall Like Lighting.” Adapted by Enda Walsh from Keiran Goddard’s novel, the film — about five friends who grew up on a council estate — is led by an ensemble of fast-rising talent, including Anthony Boyle, Joe Cole, Jay Lycurgo, Daryl McCormack and Lola Petticrew.

    From Argentina, Lisandro Alonso returns to Cannes once again with “Double Freedom,” which comes almost quarter of a century after his debut feature, “La Libertad” premiered in Un Certain Regard and set a benchmark for so-called slow cinema.

    South Korean writer-director July Jung returns to the Croisette with “Dora.” The film, starring Sakura Ando and Kim Doyeon, centers on a young woman whose physical and emotional illness begins to lift when she falls in love. One of the more consistent Korean presences at Cannes, Jung’s debut “A Girl at My Door” screened in Un Certain Regard in 2014, while “Next Sohee” closed Critics’ Week in 2022.

    Of three animated features in the lineup of features, “La Vertige” closes this year’s Directors’ Fortnight, while also marking the second film debuting on the Croisette from Quentin Dupieux, whose absurdist comedy “Full Phil” — starring Woody Harrelson and Kristen Stewart — is in the Midnight Screening section. The film was shot entirely in 3D using motion-capture.

    See the Directors’ Fortnight 2026 feature selection below.

    “Butterfly Jam,” Kantemir Balagov — opening film
    “Once Upon a Time in Harlem,” William Greaves & David Greaves
    “Femme De Chambre” (“The Diary of a Chambermaid”), Radu Jude
    “Dora,” July Jung
    “Gabin,” Maxence Voiseux
    “Clarissa,” Arie Esiri and Chuko Esiri
    “L’espèce Explosive” (“Too Many Beasts”), Sarah Arnold
    “Low Expectations,” Eivind Landsvik
    “Double Freedom,” Lisandro Alonso
    “We Are Aliens,” Kohei Kadowaki
    “Merci D’être Venu” (“Thanks for Coming”), Alain Cavalier – Documentaire
    “I See Buildings Fall Like Lighting,” Clio Barnard
    “Atonement,” Reed Van Dyk
    “Shana” De Lila Pinell
    “Death Has No Master,” Jorge Thielen Armand
    “Carmen, L’oiseau Rebelle,” Sébastien Laudenbach
    “9 Temples to Heaven,” Sompot Chidgasornpongse
    “Le Vertige,” Quentin Dupieux — closing film

  • ‘Buen Camino,’ Italy’s Highest-Grossing Movie of All Time, Set for Spanish Remake (EXCLUSIVE)

    ‘Buen Camino,’ Italy’s Highest-Grossing Movie of All Time, Set for Spanish Remake (EXCLUSIVE)

    Spain’s AF Films has acquired Spanish remake rights to “Buen Camino,” the Italian comedy that recently became the country’s all-time highest-grossing film by scoring a whopping more than $82 million local box office haul.

    The “Buen Camino” adaptation agreement between AF Films and Italian sales company Piperplay is the first remake deal to be announced since the comedy – starring local comedy sensation Checco Zalone as a rich and debauched father who zips around in a red Ferrari searching for his runaway daughter along Spain’s famous Camino de Santiago spiritual pilgrimage –became an Italian box office sensation that generated buzz elsewhere in the world.

    The protagonist, Checco, is forced to leave his gilded life behind to search for Cristal, his missing teenage daughter. “He thus finds himself, against his will, on the Camino de Santiago, amid hardship, blisters, clashes, and revelations. But this unexpected journey will become the only chance for father and daughter to truly get to know each other,” as the official synopsis puts it

    Piperplay is also in advanced talks to sell “Buen Camino” remake rights to France and Germany. 

    “Buen Camino,” which is produced by Italy’s Vuelta-owned Indiana Production, launched in Italy via Medusa distribution on Dec. 25 and went on to dominate the Italian market, holding the box office spot for the following five weeks, drawing more than 9 million Italians. More significantly, the film surpassed Zalone’s previously held records for a local title, the last of which was with 2016’s “Quo Vado,” about a Southern Italian slacker hellbent on holding on to his parasitic government job even when he is transferred to the North Pole.

    Due to its more universal storyline “Buen Camino” can make for more congenial remake material than Zalone’s previous pictures, possibly proving that local comedies can travel.

    “We are now in exactly the same position that were were in with “Quo Vado” 10 years ago. The world outside Italy is astonished at our box office haul and wondering, “How did these guys pull it off?,” Buen Camino director Gennaro Nunziante said in an interview with Variety.

    “But this time we’ve taken it to the next level, and not just in terms of box office. This film has much more international appeal compared with “Quo Vado,” he noted.

    “Buen Camino proved that a story about a father, a daughter, and a road can become a box office phenomenon with no franchise behind it. That’s exactly why it travels,” said Indiana partner Daniel Campos Pavoncelli in a statement.

    “We’re very honored that this idea from Gennaro Nunziante and Luca Medici (aka Checco Zalone) is drawing such a broad appeal,” he added.

    “The Spanish-language remake is the logical next step: the Camino de Santiago is Spanish territory, Spanish culture, and a potential audience that already knows the geography. We are very proud to have AF Films do this remake,” Campos Pavoncelli went on to point out.

    Commented AF chief Frank Aziza: “At AF Films, we feel deeply connected to ‘Buen Camino’ because it is a story that, through humor, speaks to something essential: human relationships and second chances.”

    “We are drawn to projects like this one, which have the ability to make audiences laugh and feel at the same time, while inviting them to see themselves reflected in the characters.”

    AF Films, which operates between Europe and the U.S., is known for developing high-end feature films and prestige TV projects through strategic studio alliances and cross-border financing models. Recent projects in which AF have been involved include Sundance standout “Sorry, Baby”; thriller “Above and Below,” toplining Antonio Banderas; action movie “Hammer Down,” that they are developing with “Oppenheimer” producer Charles Roven; and HBO Max series “Mariachis.”

  • Doctor Doom Predicts AI-Powered Boom of World Economy

    Nouriel Roubini, also known as Doctor Doom after his accurate prediction of the 2008 financial crisis, has now turned bullish, anticipating a rise in the world economy linked to the implementation of tech and artificial intelligence (AI), with China and the U.S. at the helm.

    Key Takeaways:

    • Nouriel Roubini predicts AI will drive markets, pushing future US growth to 4% by 2030 despite politics.
    • At the Greenwich Economic Forum, Roubini noted AI is no bubble, driving tech markets for the next 20 years.
    • Per Roubini, US tech dynamism ignores politics; AI innovation will push future economic growth to 10% by 2050.

    Nouriel ‘Doctor Doom’ Roubini Forecasts Jump In World Economies As AI Grows

    While some analysts have become pessimistic about the effects of the growing international adoption of artificial intelligence (AI), others believe it will usher in an era of accelerated productivity and growth.

    Nouriel Roubini, also known as “Doctor Doom” for its constant pessimistic predictions about the course of the world economy, has turned bullish in this regard and is now expecting AI to become one of the key drivers of growth. This new era of growth, supported by several drivers, including IA and semiconductors, will principally benefit the U.S. and China, the main innovators in these fields.

    Roubini, famous for predicting the 2008 financial crisis, assumes that AI is a technology that will keep evolving and is not a bubble, as many in the financial world fear. At the Greenwich Economic Forum in Hong Kong, he stated:

    “That fundamental story – regardless of geopolitics, regardless of climate change, regardless of populism – is the driver for the next 10 to 20 years, and is a positive for the world at large”

    For Roubini, AI might spur an annual growth of 4% in the U.S. economy by 2030, and this might climb 6% by 2040 and 10% by 2050, an acceleration that would be independent of any geopolitical shocks like the current Middle East conflict.

    “I think, eventually, technology dominates over the medium term, but we can cause a lot of damage in the short run by doing lots of stupid things,” he declared.

    According to SCMP, the economist also disregarded the political leadership’s relevance in this new era, stressing that even with “Mickey Mouse” as president of the U.S., the economy will keep growing because the U.S. tech sector has its own dynamism to ensure this growth rate.