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Dalai Lama Asserts Sole Authority Over Reincarnation Amid China’s Claims

In a landmark declaration just days before his 90th birthday, the Dalai Lama has reaffirmed that the centuries-old Tibetan Buddhist institution will continue after his death—and that his reincarnation will be determined solely by the Gaden Phodrang Trust , a foundation he established. This move directly challenges China’s long-standing assertion that it holds the final say in selecting the next Dalai Lama. Speaking in a pre-recorded message during a religious gathering in Dharamshala, India, the exiled spiritual leader stated that no external political power, including China, has any authority  to interfere in the reincarnation process. He emphasized that the search for his successor will follow traditional Tibetan Buddhist practices and be overseen by senior monks and spiritual advisors connected to the Trust. China swiftly responded, insisting that any reincarnation must be approved by Beijing and conducted within Chinese-administered Tibetan regions. Officials cited a Qing dynas...
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Markets Waver as Jobs Data and Trade Talks Take Center Stage

U.S. stock futures were on shaky ground Wednesday morning as investors digested a surprising drop in private-sector employment and braced for potential turbulence from looming trade deadlines. The Dow Jones Industrial Average hovered near the flatline, while S&P 500 futures dipped 0.1% and Nasdaq 100 contracts slid 0.3%.

The latest ADP report revealed that private employers cut 33,000 jobs in June, marking the first monthly decline in over two years and falling far short of economists’ expectations for a 98,000-job gain. This unexpected contraction has intensified speculation that the Federal Reserve may consider interest rate cuts sooner than anticipated.

Meanwhile, attention is turning to President Trump’s trade negotiations, with a July 9 deadline fast approaching for the resumption of steep “reciprocal” tariffs. Markets are watching closely to see if deals can be struck with key partners like the EU and Japan, as failure to do so could stoke inflation and further complicate the Fed’s policy path.

Adding to the uncertainty is the fate of Trump’s sweeping tax-and-spending bill, which narrowly passed the Senate and now faces a contentious vote in the House. The bill’s outcome could significantly influence market sentiment heading into the July 4 holiday.



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