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Grok New Feature Update: Elon Musk’s AI Chatbot Now Allows Users To Create Image Based on Their X ProfileOn December 3, China’s Ministry of Commerce announced that “the export of dual-use items such as gallium, germanium, antimony, and superhard materials to the United States will not be permitted.” This announcement likely means that over 20 mineral items – encompassing both metals and chemicals – are banned from being exported from China to the United States. Many of these items are important to U.S. national security. For example, antimony is found in bullets and artillery rounds; gallium is used in integrated circuits for advanced radar systems ; and germanium is needed for night-vision and thermal-sensing systems . Without adequate supplies of these elements, the defense industrial base could be delayed in manufacturing the downstream munitions and weapons systems, undermining the warfighting capabilities of the U.S. military. Critically, China – the United States’ “most consequential strategic competitor” according to the 2022 National Defense Strategy – is the largest source of U.S. imports for antimony metal and oxide , as well as germanium metal . China is also the second largest source of U.S. imports for gallium . Since China’s export ban takes immediate effect, the U.S. defense industrial base could experience short-term mineral shortages and higher prices. This should not be taken lightly: mineral shortages can impede defense manufacturing and undermine the strength of the military, just as the United States experienced during World War II . The resulting supply disruptions from China’s new export ban could also have a multi-billion-dollar impact on the U.S. economy. For example, the U.S. Geological Survey recently calculated that if China blocked all exports of gallium alone, U.S. gross domestic product could decline by up to $8.2 billion. Importantly, firms in third-party countries that import antimony, gallium, and germanium from China and then export them to the United States would violate China’s export ban and “will be held accountable according to [the] law.” While firms in other countries do themselves produce these minerals, these firms may not have enough production and uncontracted capacity to fully replace U.S. imports from China. For instance, China has a near monopoly on gallium production, producing about 98 percent of the world’s gallium annually. In the long term, however, the impact on the U.S. defense industrial base could be positive if U.S. firms develop more resilient supply chains that exclude foreign adversaries and if the U.S. government financially backs mineral projects that help fill these supply gaps. Yet, in the interim, China could expand its export bans to include other minerals on its dual-use export control list. These minerals include the following: aluminum, beryllium, bismuth, calcium, graphite, hafnium, magnesium, nickel (powder), rhenium, titanium, tungsten, zinc, and zirconium. The U.S. Defense Logistics Agency has designated many of these elements as “ materials of interest .” The incoming Trump administration is well aware of the United States’ mineral vulnerability. The first Trump administration issued Executive Order 13953 , which declared a national emergency concerning U.S. reliance on foreign adversaries – namely China – for critical minerals. To reduce this dependence, the administration increased mineral stockpiling and financial support for U.S. mining and processing projects. The incoming Trump administration could go further. Under the first Trump administration, the Department of Commerce recommended stockpiling to reduce vulnerability to mineral supply disruptions, and the Department of Defense took steps to increase the U.S. government’s stockpile of rare earth elements. Notably, the incoming Trump administration will have over $300 million in existing funds to boost the volume and scope of minerals in the National Defense Stockpile . The first Trump administration also increased financial support for U.S. mining and processing projects. Trump’s Department of Energy issued guidance making U.S. mining and processing projects eligible for loan guarantees under the Title 17 program and U.S. processing projects eligible for direct loans under the Advanced Technology Vehicle Manufacturing (ATVM) program. As of October 31, 2024, the Title 17 program has over $62 billion remaining in loan authority, and the ATVM program has over $45 billion remaining. The incoming administration could prioritize quickly disbursing these funds to U.S. mineral projects. Additionally, the first Trump administration’s Department of Defense, under Title III of the Defense Production Act, awarded grants to rare earth element projects. As of December 3, 2024, the Defense Production Act fund has nearly $1.1 billion in unobligated funds. The incoming administration could, for example, disburse these grants to U.S. alumina refineries for building capabilities to extract gallium and to U.S. zinc smelters for building capabilities to extract germanium. In sum, China’s new export ban on antimony, gallium, and germanium could severely disrupt supply chains for the U.S. defense industrial base. The United States relies heavily on China for other minerals, too, so export bans by China on other minerals could prove similarly damaging. Now is the time for the U.S. government to deploy its whole arsenal of policy tools to reduce U.S. mineral dependence on foreign adversaries and bolster U.S. supply chains of critical minerals.
Security cameras captured video of a University of Mississippi student leaving his campus apartment twice on the morning he was last seen alive, University Police Department Capt. Jane Mahan testified Wednesday in the trial of the man accused of killing the student. Jimmy “Jay” Lee, 20, was a gay man well known in the LGBTQ+ community at Ole Miss and in Oxford, where the university is located. He vanished July 8, 2022. Sheldon “Timothy” Herrington Jr., 24, of Grenada, Mississippi, is charged with capital murder in Lee’s death, and his trial began Tuesday in Oxford. Herrington has maintained his innocence. Police said cellphone history showed conversations between Herrington and Lee on the morning Lee disappeared. Jurors on Wednesday were shown video clips of Lee leaving his own apartment shortly after 4 a.m., wearing a robe and slippers. The clips showed him returning about 40 minutes later and leaving again just before 6 a.m. When he left the last time, he was looking at his cellphone. A friend of Lee, Khalid Fears, testified Tuesday that he had a video chat with Lee while Lee left the apartment around 6 a.m. that day. Lee said he was going back to see a man he had seen hours earlier, Fears testified. Mahan testified Wednesday about the timeline of the video clips showing Lee at the campus apartment. She said campus police started searching for Lee after his mother, Stephanie Lee, called later that day to request a welfare check on her son after he didn’t respond to multiple messages. Jay Lee’s apartment had an electronic key card, and Mahan testified that police contacted the campus housing department to put an alert on his card, which would automatically send police an email if the card were used. An assistant district attorney, Gwen Agho, asked Mahan if Lee ever returned to his apartment after he was recorded leaving that morning. “Not that I’ve ever been notified of, no,” Mahan said. Lee and Herrington saw each other twice during the hours before Lee disappeared, Agho said during opening arguments Tuesday. She said the men had sexual contact during their first meeting, and Lee was upset when he left Herrington’s apartment. Herrington invited Lee back — and before Lee arrived, Herrington searched online for how long it takes to strangle someone, Agho said. Herrington “was not openly in the LGBTQ community,” she said. A witness, Kizziah Carter, testified Wednesday that he was driving home from work at about 7:30 that morning and saw Herrington jogging along a road in Oxford. Carter said he knew Herrington and honked to greet him, and Carter flagged him down to ask for a ride. The road was near an apartment complex where Lee’s car was found later in the day. Carter said he drove Herrington to Herrington’s apartment in another complex. Surveillance video also recorded Herrington running from where Lee’s car was found, and he was later seen picking up a shovel and wheelbarrow at his parents’ house, authorities said. Lee’s body has not been found. In October, a judge declared him dead at the request of Lee’s parents. Lee’s active presence on social media fell silent after July 8, 2022, and no transactions have appeared on his credit card since then, prosecutors said. Herrington was arrested two weeks after Lee vanished, then released five months later on a $250,000 bond. A grand jury indicted him in March 2023. Herrington’s attorney, Kevin Horan, told jurors Tuesday that prosecutors have “zero” proof that Lee was killed or that any crime happened. Both Herrington and Lee had graduated from the University of Mississippi. Lee was pursuing a master’s degree. He was known for his creative expression through fashion and makeup and often performed in drag shows in Oxford, according to a support group called Justice for Jay Lee. Prosecutors have announced they do not intend to pursue the death penalty, meaning Herrington could get a life sentence if convicted. Mississippi law defines capital murder as a killing committed along with another felony — in this case, kidnapping.Historic Climate Progress: COP29 Launches Fund To Aid Vulnerable Nations
NEW YORK (AP) — Bitcoin topped $100,000 for the first time this week as a massive rally in the world's most popular cryptocurrency, largely accelerated by the election of Donald Trump, rolls on. The cryptocurrency officially to rose six figures Wednesday night, just hours after the president-elect said he intends to nominate cryptocurrency advocate Paul Atkins to be the next chair of the Securities and Exchange Commission. Bitcoin has soared since Trump won the U.S. presidential election on Nov. 5. The asset climbed from $69,374 on Election Day, hitting as high as $103,713 Wednesday, according to CoinDesk. And the latest all-time high arrives just two years after bitcoin dropped below $17,000 following the collapse of crypto exchange FTX . Bitcoin fell back below the $100,000 by Thursday afternoon, sitting above $99,000 by 4 p.m. ET. Even amid a massive rally that has more than doubled the value of bitcoin this year, some experts continue to warn of investment risks around the asset, which has quite a volatile history. Here’s what you need to know. Cryptocurrency has been around for a while now. But chances are you’ve heard about it more and more over the last few years. In basic terms, cryptocurrency is digital money. This kind of currency is designed to work through an online network without a central authority — meaning it’s typically not backed by any government or banking institution — and transactions get recorded with technology called a blockchain. Bitcoin is the largest and oldest cryptocurrency, although other assets like ethereum, XRP, tether and dogecoin have also gained popularity over the years. Some investors see cryptocurrency as a “digital alternative” to traditional money, but most daily financial transactions are still conducted using fiat currencies such as the dollar. Also, bitcoin can be very volatile, with its price reliant on larger market conditions. A lot of the recent action has to do with the outcome of the U.S. presidential election. Trump, who was once a crypto skeptic, has pledged to make the U.S. “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies. On Thursday morning, hours after bitcoin surpassed the $100,000 mark, Trump congratulated “BITCOINERS” on his social media platform Truth Social. He also appeared to take credit for the recent rally, writing, “YOU’RE WELCOME!!!” Top crypto players welcomed Trump’s election victory last month, in hopes that he would be able to push through legislative and regulatory changes that they’ve long lobbied for — which, generally speaking, aim for an increased sense of legitimacy without too much red tape. And the industry has made sizeable investments along the way. Back in August, Public Citizen, a left-leaning consumer rights advocacy nonprofit, reported finding that crypto-sector corporations spent more than $119 million in 2024 to back pro-crypto candidates across federal elections. Trump made his latest pro-crypto move when he announced his plans Wednesday to nominate Atkins to chair the SEC. Atkins was an SEC commissioner during the presidency of George W. Bush. In the years since leaving the agency, Atkins has made the case against too much market regulation. He joined the Token Alliance, a cryptocurrency advocacy organization, in 2017. Under current chair Gary Gensler, who will step down when Trump takes office, the SEC has cracked down on the crypto industry — penalizing a number of companies for violating securities laws. Gensler has also faced ample criticism from industry players in the process. One crypto-friendly move the SEC did make under Gensler was the approval in January of spot bitcoin ETFs, or exchange trade funds, which allow investors to have a stake in bitcoin without directly buying it. The spot ETFs were the dominant driver of bitcoin's price before Trump's win — but, like much of the crypto’s recent momentum, saw record inflows postelection. Bitcoin surpassing the coveted $100,000 mark has left much of the crypto world buzzing. “What we’re seeing isn’t just a rally — it’s a fundamental transformation of bitcoin’s place in the financial system,” Nathan McCauley, CEO and co-founder of crypto custodian Anchorage Digital, said in a statement — while pointing to the growth of who's entering the market, particularly with rising institutional adoption. Still, others note that the new heights of bitcoin's price don't necessarily mean the asset is going mainstream. The $100,000 level is “merely a psychological factor and ultimately just a number,” Dan Coatsworth, investment analyst at British investment company AJ Bell, wrote in a Thursday commentary . That being said, bitcoin could keep climbing to more and more all-time highs, particularly if Trump makes good on his promises for more crypto-friendly regulation once in office. If Trump actually makes a bitcoin reserve, for example, supply changes could also propel the price forward. “It is hard to overstate the magnitude of the change in Washington’s attitude towards crypto post-election,” Matt Hougan, chief investment officer at Bitwise Asset Management, said via email Thursday, reiterating that prices could keep rising if trends persist. “There is a lot more demand than there is supply, and that’s usually a pretty good recipe for success.” Still, as with everything in the volatile cryptoverse, the future is never promised. Worldwide regulatory uncertainties and environmental concerns around bitcoin “mining" — the creation of new bitcoin, which consumes a lot of energy — are among factors that analysts like Coatsworth note could hamper future growth. And, as still a relatively young asset with a history of volatility, longer-term adoption has yet to be seen through. Today’s excitement around bitcoin may make many who aren’t already in the space want to get in on the action. For those in a position to invest, Hougan says it's not too late — noting that bitcoin is still early in its development and most institutional investors “still have zero exposure.” At the same time, Hougan and others maintain that it's important to tread cautiously and not bite off more than you can chew. Experts continue to stress caution around getting carried away with crypto “FOMO,” or the fear of missing out, especially for small-pocketed investors. “A lot of people have got rich from the cryptocurrency soaring in value this year, but this high-risk asset isn’t suitable for everyone,” Coatsworth noted Thursday. “It’s volatile, unpredictable and is driven by speculation, none of which makes for a sleep-at-night investment.” In short, history shows you can lose money in crypto as quickly as you’ve made it. Long-term price behavior relies on larger market conditions. Trading continues at all hours, every day. Coatsworth points to recent research from the Bank for International Settlements, a Switzerland-based global organization of central banks, which found that about three-quarters of retail buyers on crypto exchange apps likely lost money on their bitcoin investments between 2015 and 2022. At the start of the COVID-19 pandemic, bitcoin stood at just over $5,000. Its price climbed to nearly $69,000 by November 2021, during high demand for technology assets, but later crashed during an aggressive series of rate hikes by the Federal Reserve. And the late-2022 collapse of FTX significantly undermined confidence in crypto overall, with bitcoin falling below $17,000. Investors began returning in large numbers as inflation started to cool — and gains skyrocketed on the anticipation and then early success of spot ETFs, and again, now the post-election frenzy. But lighter regulation from the coming Trump administration could also mean less guardrails. This story has been corrected to refer to Anchorage Digital as a crypto custodian, not a crypto asset manager. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get the latest local business news delivered FREE to your inbox weekly.
Israel and Lebanon's Hezbollah agree to a ceasefire after nearly 14 months of fighting JERUSALEM (AP) — Israel has approved a ceasefire agreement with Lebanon’s Hezbollah militants, setting the stage for an end to nearly 14 months of fighting linked to the ongoing war in the Gaza Strip. The ceasefire is set to take hold at 4 a.m. local time on Wednesday. Israeli warplanes have carried out the most intense wave of strikes in Beirut and its southern suburbs since the start of the conflict amid a record number of evacuation warnings. At least 42 people were killed in strikes across Lebanon, according to local authorities. President Joe Biden said his administration now would make a renewed push for a ceasefire in Gaza. What both sides are saying about the ceasefire deal between Israel and Lebanon's Hezbollah A ceasefire deal that could end more than a year of cross-border fighting between Israel and Lebanon’s Hezbollah militant group won backing from Israeli leaders. The truce that is set to take effect early Wednesday raised hopes and renewed difficult questions in a region gripped by conflict. Hezbollah leaders also signaled tentative backing for the U.S.-brokered deal, which offers both sides an off-ramp from hostilities But the deal does little directly to resolve the much deadlier war that has raged in Gaza since Hamas militants attacked southern Israel last October. Cheap Ozempic? How millions of Americans with obesity may get access to costly weight-loss drugs WASHINGTON (AP) — Millions of obese Americans would get access to popular weekly injectables that would help them shed pounds quickly if a $35 billion proposal from the Biden administration is blessed by President-elect Donald Trump. The rule, unveiled Tuesday by the Health and Human Services Department, would require Medicare and Medicaid to cover weight-loss drugs like Wegovy or Zepbound for a large segment of Americans who are obese. But it’s unclear if the proposal, which would not go into effect until after Trump takes office, will have support from his new administration — including from Robert F. Kennedy Jr., an opponent of the drugs who has been tapped by the president-elect to serve as head of HHS. Trump vows tariffs over immigration. What the numbers say about border crossings, drugs and crime. WASHINGTON (AP) — President-elect Donald Trump is threatening tariffs on Mexico and Canada as he seeks to portray them as responsible for illegal immigration and drug smuggling. Over its tenure, the Biden administration has struggled with growing numbers of migrants arriving at the southern border. But this year, the number of people crossing the border without documents has actually been falling. That's due in part to stricter enforcement by Mexican authorities as well as asylum restrictions announced earlier this year by the Biden administration. When it comes to fentanyl smuggling, much of the deadly supply comes from Mexico though statistics show more than 86% of those sentenced for fentanyl trafficking crimes in the 12 months ending September 2023 were U.S. citizens. AP finds that a Pentagon-funded study on extremism in the military relied on old data Early this year, Pete Hegseth told a Fox News audience a new, Pentagon-funded study proved that the number of military service members and veterans involved in the Jan. 6 insurrection did not indicate a wider problem in the armed forces. Hegseth, Donald Trump's pick to head the Department of Defense, wasn’t alone. The Wall Street Journal’s opinion page highlighted the same report as evidence that extremists in military communities were “phantoms” created by a “false media narrative.” The X account for Republicans on the House Armed Services Committee posted that the study showed the focus on extremism in the military was a “witch hunt.” But The Associated Press has found that the study relied on old data, misleading analyses and ignored evidence that pointed to the opposite conclusion. How Trump's bet on voters electing him managed to silence some of his legal woes WASHINGTON (AP) — Special counsel Jack Smith move to abandon two federal cases accusing Trump of endangering American democracy and national security does away with the most serious legal threats Trump was facing as he returns to the White House. It was the culmination of a monthslong defense effort to delay the proceedings at every step and use the criminal allegations to Trump's political advantage, putting the final word in the hands of voters instead of jurors. The move just weeks after Trump’s victory over Vice President Kamala Harris underscores the immense personal stake Trump had in the campaign in which he turned his legal woes into a political rallying cry. Walmart's DEI rollback signals a profound shift in the wake of Trump's election victory NEW YORK (AP) — Walmart’s sweeping rollback of its diversity policies is the strongest indication yet of a profound shift taking hold at U.S. companies that are re-evaluating the legal and political risks associated with bold programs to bolster historically underrepresented groups in business. The changes announced by the world’s biggest retailer on Monday followed a string of legal victories by conservative groups that have filed an onslaught of lawsuits challenging corporate and federal programs aimed at elevating minority and women-owned businesses and employees. The retreat from such programs crystalized with the election of former President Donald Trump, whose administration is certain to make dismantling diversity, equity and inclusion programs a priority. Brazil’s Bolsonaro planned and participated in a 2022 coup plot, unsealed police report alleges SAO PAULO (AP) — Brazil’s former far-right President Jair Bolsonaro was fully aware of and actively participated in a coup plot to remain in office after his defeat in the 2022 election, according to a Federal Police report that has been unsealed. Brazil’s Federal Police last Thursday formally accused Bolsonaro and 36 other people of attempting a coup. They sent their 884-page report to the Supreme Court, which lifted the seal. Bolsonaro called a meeting in December 2022, during which he presented a draft decree to the commanders of the three divisions of the armed forces, that would have declared the vote fraudulent, to justify a possible military intervention. Bolsonaro has repeatedly denied any wrongdoing. New rule allows HIV-positive organ transplants People with HIV who need a kidney or liver transplant will be able to receive an organ from a donor with HIV. That's according to a new rule announced Tuesday by U.S. health officials. Previously, such transplants could be done only as part of research studies. The new rule takes effect Wednesday. It's expected to shorten the wait for organs for all, regardless of HIV status, by increasing the pool of available organs. The practice is supported by a decade of research, during which 500 transplants of kidneys and livers from HIV-positive donors have been done in the U.S. Surveillance tech advances by Biden could aid in Trump's promised crackdown on immigration President-elect Donald Trump will return to power next year with a raft of technological tools at his disposal that would help deliver his campaign promise of cracking down on immigration — among them, surveillance and artificial intelligence technology that the Biden administration already uses to help make crucial decisions in tracking, detaining and ultimately deporting immigrants lacking permanent legal status. One algorithm, for example, ranks immigrants with a “Hurricane Score,” ranging from 1-5, to assess whether someone will “abscond” from the agency’s supervision.SEOUL, South Korea , Dec. 26, 2024 /PRNewswire/ -- SOLVIT System, a recognized leader in innovative technology, will participate in CES 2025, taking place January 7–10 in Las Vegas . The company's iSARTM (intelligent Search and Rescue) has been honored with the prestigious CES Innovation Award in the "Smart Cities" category. At CES, SOLVIT System will showcase its groundbreaking technology to dramatically reduce search areas for individuals lost in radio shadow zones. Addressing the Challenges of Rescue Dead Zones Mobile communication shadow areas, often called "rescue dead zones" in current E911 services, pose significant challenges for locating missing individuals due to the absence of technology capable of identifying or narrowing these shadow zones. Wide-area searches without actionable clues often result in unsuccessful rescue attempts despite substantial investments of time and resources. Powered by advanced algorithms, the SOLVIT-iSARTM system reduces the search area to as little as 1/25 the size required by traditional methods. Cutting-edge technology for Swift and Accurate Rescues At CES, SOLVIT System will demonstrate iSARTM's functionality and the innovative algorithms behind its success. The solution leverages advanced mobile communication forensic technologies and intelligent inference, including: These fully automated processes enable rescue operators to complete professional-grade analyses within just 10 minutes, a significant improvement over the three hours typically required by radio forensic experts. The company will highlight its front-end applications for command-and-control centers and mobile devices. These tools enhance operational efficiency, allowing rescue teams to work quickly and effectively in the field. Proven Innovation with Global Recognition SOLVIT System's iSARTM has been celebrated for its groundbreaking contributions to public safety, improving the likelihood of rescuing individuals while ensuring the safety of rescue personnel. Before earning the CES Innovation Award, iSARTM was recognized as an "Excellent Research and Development Innovation Product" by Korea's Ministry of Trade, Industry, and Energy. Since its deployment in April 2024 at the Korea National Fire & Disaster Headquarters, the system has demonstrated exceptional efficiency and reliability. Motivation and Vision for the Future "We are proud to be honored with the CES Innovation Award for iSARTM that saves lives," said Yeong-Goo Kim , Founder and CEO of SOLVIT System. "Driven by our commitment to saving lives, we have applied our expertise to the search and rescue field." The company's participation in CES 2025 goes beyond showcasing its product. Mr Kim aims to connect with a wide range of people, agencies, companies, and institutions to explore opportunities for collaboration and the localization of iSARTM in different countries. He also hinted at the development of the next version of iSARTM, promising further groundbreaking innovations. He also hopes that iSARTM's CES Award will serve as a stepping-stone toward establishing legal and institutional frameworks for public access to radio resource information and time-series data. Special thanks go to KCA for providing refined radio resource information, ATDI for supplying a proven radio analysis engine, and the institutions that supported technical validation. Key Features of SOLVIT-iSAR Join Us at CES 2025 For more information, visit SOLVIT System at CES 2025 in LVCC North Hall, Booth 8879 , to experience the award-winning SOLVIT-iSARTM — a revolutionary step forward in rescue operations designed to save lives and resources through advanced technology. About SOLVIT System Since its establishment as a corporation in 2007, SOLVIT System has grown into a small but strong enterprise that provides military communication Modeling & Simulation (M&S), radio analysis, digital twin technology, edge AI, and security solutions. It supplies these solutions to defense research institutions such as the Agency for Defense Development (ADD) and the Korea Research Institute for Defense Technology (KRIT) and defense companies like Hanwha Systems and LIG Nex1. The company has been recognized by Korea's Defense Acquisition Program Administration (DAPA) as a "Defense Industry Innovation Company." More at CES 2025: LVCC North Hall, Booth 8879 ( https://exhibitors.ces.tech/8_0/floorplan/?hallID=A&selectedBooth=8879) Website: https://en.solvitsystem.co.kr/ Youtube: https://www.youtube.com/watch?v=nEjBF993Pwc For further information: SOLVIT System: Hansol Kim , +82-2-6241-6667, hansolkim@solvitsystem.co.kr , sales@solvitsystem.co.kr ; View original content to download multimedia: https://www.prnewswire.com/news-releases/solvit-system-wins-ces-2025-innovation-award-illuminating-paths-to-save-lives-in-radio-shadow-areas-302339454.html SOURCE SOLVIT SystemUK-headquartered HSBC Holdings' board has appointed headhunters to start the recruitment of its next chairman to succeed Mark Tucker, Sky News reported on Saturday. The London-listed, Asia-focused bank will consider both existing non-executive directors and outsiders to succeed Tucker, the report said, citing sources. The bank has appointed headhunters including MWM Consulting to run the process, the report added. HSBC Holdings did not immediately respond to Reuters' request for comment. Tucker joined Europe's biggest bank from Hong Kong-based insurer AIA in March 2017, when HSBC broke tradition by choosing an outsider to replace veteran Douglas Flint. 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