China could receive the first shipments of Nvidia’s second-most powerful AI chips, signalling a shift in America’s long-standing restrictions on exports to Beijing.The US government has began a formal licensing process that could pave the way for chip gaint’s Beijing entry, Reuters reported, citing five people familiar with the matter. This comes after US President Donald Trump recently committed to permit sales. Earlier this month, Trump said that his administration would allow Nvidia to sell its H200 chips to China, with the US collecting a 25% fee on the transactions. Explaining the rational behind the permission, he said that exporting American chips would help US companies retain an edge over Chinese chipmakers by reducing the appetite for dragon’s chips.However, despite the announcement, uncertainty still surrounds the pace of approvals and whether Chinese authorities would permit local firms to purchase the chips. The move has also drawn sharp criticism from China hawks across the US political spectrum, who argue that the technology could enhance Beijing’s military capabilities and weaken the US lead in artificial intelligence, Reuters reported. According to the sources, the commerce department has forwarded licence applications related to the proposed chip exports to the state, energy and defense departments as part of a mandatory inter-agency review. Under US export regulations, the departments have 30 days to submit their assessments. One administration official stressed that the process would be comprehensive, saying it was “not some perfunctory box we are checking.” However, the regulations, the final green signal still remains with the president.While the White House declined to comment directly on the review, a spokesperson said “the Trump administration is committed to ensuring the dominance of the American tech stack – without compromising on national security.” The potential policy is a transition from the approach taken under former president Joe Biden, whose administration imposed extensive restrictions on exports of advanced AI chips to China and other countries it saw as possible transit points for smuggling, citing national security concerns. It also contrasts sharply with Trump’s stance during his first term, when he moved aggressively to restrict China’s access to US technology. At the time, Trump pointed to allegations that China steals American intellectual property and uses commercially obtained technology to strengthen its military, accusations that Beijing has denied.

‘A mistake’ — Why officials are not happy?

Former national security officals have firmly opposed the move saying that large chip outflows to China would be ‘a significant strategic mistake,’” said Chris McGuire, who served on the White House National Security Council under President Joe Biden and is now a senior fellow at the Council on Foreign Relations. He told Reuters that the chips are “the one thing holding China back in AI.” “I cannot possibly fathom how the departments of Commerce, State, Energy, and Defense could certify that exporting these chips to China is in the U.S. national security interest,” he added. Officials backing the policy within the Trump administration argue the exports could have the opposite effect. Led by White House AI czar David Sacks, they say selling advanced chips to China would discourage domestic firms such as Huawei from intensifying efforts to close the gap with Nvidia and AMD’s most advanced designs. Reuters reported last week that Nvidia is considering ramping up production of the H200 chips, which sit just below its flagship Blackwell processors, after initial orders from China exceeded existing manufacturing capacity. Although the H200 is slower than the Blackwell chips across many AI applications, it remains widely used and has never previously been approved for sale in China. Trump had earlier indicated that he was open to allowing exports of a less advanced version of Nvidia’s Blackwell chips, but later reversed that position and moved instead to approve potential sales of the H200.

TikTok has signed a joint venture agreement with major investors to keep its platform running in the United States and avoid a potential ban linked to its Chinese ownership, according to an internal memo seen by news agency AFP.TikTok chief executive Shou Zi Chew told employees that the company and its parent ByteDance have agreed to form a new US-based entity, backed by Oracle, private equity firm Silver Lake and Abu Dhabi-based investor MGX. The deal is aimed at meeting the requirements of a 2024 US law that mandates the sale of TikTok’s American operations or a shutdown of the app.Under the arrangement, American and global investors will hold just over 80 per cent of the new joint venture, while ByteDance will retain a 19.9 per cent stake — the maximum ownership allowed for a Chinese company under the law, reported Reuters. Oracle, Silver Lake and MGX will each own 15 per cent, while affiliates of existing ByteDance investors will hold around 30 per cent.Chew said the US joint venture would operate as an independent entity with authority over “US data protection, algorithm security, content moderation and software assurance”. He added that the venture would have “the exclusive right and authority to provide assurances that content, software and data for American users is secure”, as per AFP.Oracle will serve as TikTok’s “trusted security partner”, responsible for auditing compliance and safeguarding sensitive US user data, which will be stored on Oracle’s cloud infrastructure in the United States, Reuters reported. The new entity will also oversee certain commercial operations, including advertising, marketing and e-commerce, while TikTok’s US entities will manage global product interoperability.The agreement is set to close on January 22, 2026, though Chew told staff that more work remains before completion. The memo marks the first confirmation that TikTok has formally signed on to a deal framework unveiled by the White House in September, AFP noted.The move follows years of pressure from US lawmakers, who have argued that TikTok could be used by Beijing to access Americans’ data or influence public opinion through its algorithm. US President Donald Trump, who initially pushed for a ban during his first term, repeatedly delayed enforcement of the law through executive orders since his return to the White House. He has credited TikTok, which has over 170 million US users, with helping him win re-election.Trump has publicly backed the new arrangement, previously naming Oracle founder Larry Ellison — a longtime ally — as a key figure in the deal. Ellison has recently re-emerged in the spotlight through major media and technology investments, AFP reported.The deal has drawn criticism from some US politicians. Democratic Senator Elizabeth Warren said there were still unanswered questions, accusing Trump of allowing a “billionaire takeover” of TikTok, as reported by Reuters.Despite the concerns, analysts quoted by Reuters said the agreement is likely to clear regulatory hurdles, given the level of involvement by the White House in shaping the transaction.

File photo: Australian Prime Minister Anthony Albanese (Picture credit: AP)

Australia will observe a national day of reflection on Sunday (December 21), one week after the deadly Bondi Beach mass shooting that killed 15 people, Prime Minister Anthony Albanese announced on Friday, as he urged the country to reject “hatred and violence”.Albanese called on Australians to light candles at 6:47 pm local time, marking the exact moment the attack unfolded. “It is a moment to pause, reflect, and affirm that hatred and violence will never define who we are as Australians,” he said.Flags on New South Wales and Australian government buildings will be flown at half-staff, reported CNN.The attack, described as Australia’s worst mass shooting in nearly three decades, took place on Sunday evening during a beachside Hanukkah celebration. Authorities have said the assault was antisemitic in nature. Sajid Akram, 50, and his son Naveed, 24, are accused of carrying out the shooting. Sajid was killed in a gunfight with police, while Naveed survived and has been charged with 15 counts of murder, an act of terrorism, and multiple other offences, according to news agency AFP.Albanese said there was “something wrong with the licensing laws” that allowed Sajid Akram to legally own six long-barrelled, high-powered rifles. He announced a sweeping national gun buy-back scheme aimed at removing newly banned and illegal firearms from private ownership, reported CNN. Calling it the biggest gun buy-back since 1996, Albanese said hundreds of thousands of weapons were expected to be collected and destroyed. States and territories will handle collection and payments, while federal police will destroy the firearms.The prime minister also pledged tougher measures to combat antisemitism, including new powers to target extremist preachers and to cancel or refuse visas for people who spread hate and division. “It is clear we need to do more to combat this evil scourge,” Albanese said.Emotional scenes played out at Bondi Beach on Friday as hundreds of locals swam into the ocean in a show of solidarity. “They slaughtered innocent victims… and being part of my community again brings back the light,” security consultant Jason Carr said, as per AFP. Others described the gathering as carrying a “beautiful energy” amid grief and anger.Meanwhile, Sydney remains on high alert. Police said they detained two carloads of men following a tip-off about a possible “violent act”, though no direct link to the Bondi attack has been established.Authorities are also investigating whether the accused were inspired by the Islamic State group, with Albanese saying intelligence agencies had identified online ISIS-linked material reinforcing that assessment.

Top stocks to buy (AI image)

Stock market recommendations: According to Bajaj Broking Research, the top stock picks for December 19, 2025 are Max Healthcare, and Sagility. Here’s its view on Nifty and Bank Nifty:Index View: NIFTYBenchmark indices continue to trade in a range with corrective bias and are currently placed around 25,800 levels as domestic markets tracked the global risk-off tone, pressured by persistent FII selling, a softer rupee, and ongoing uncertainty around US–India trade talks. In the near term, market movements are expected to be driven by a combination of key global and domestic factors. These include the (a) Outcome of Japan’s monetary policy decisions, which could influence global liquidity and currency flows. (b) Upcoming US economic data releases that may shape expectations around growth, inflation, and interest rates. (c) A greater clarity on trade-related developments between the US and India, which could have implications for bilateral trade flows, sector-specific performance, and overall investor sentiment. Together, these factors are likely to play a crucial role in determining short-term market direction. Nifty has key support placed at 25,700–25,800, which aligns with the 50-day EMA, last week low and a key retracement zone of the prior uptrend. Sustaining this band will be crucial for continuing the positive momentum of the last 3 months.We expect the Nifty to consolidate in the range of 25,700–26,300. A clear breakout or breakdown will determine the next directional move.A close below the key support area of 25,700 will signal extension of the corrective decline towards the 100 days EMA placed around 25400 levels. On the higher side immediate resistance is placed at 26,000. A move above the same will open upside towards the all-time high of 26,200-26,300 in the coming weeks. NIFTY BANKBank Nifty traded in a range, digesting its recent strong gains. The index consolidated in a 1500 points range in the last 4 weeks, oscillating in a positive and negative territory.We expect the index to extend consolidation and form a base in the range of 58500-60100 in the coming weeks. A strength above current week’s high of 59,500 will open further upside towards 60,400 levels in the coming weeks.The entire up move of the last 2 months is well channeled signaling sustained demand at elevated levels. Key support is placed at 58,300-58,600 levels, being the confluence of the 50 day EMA and recent breakout area. Holding above the support area will keep the short-term bias positive.Stock Recommendations:Max HealthcareBuy in the range of ₹ 1040-1060

Max Healthcare offers an opportunity driven by a visible and ROCE-accretive expansion cycle, sustained improvements in occupancy and ARPOB mix, and strengthening cash flows. Management’s strategy prioritises brownfield expansion, disciplined asset-light growth, and operating leverage from newly acquired and greenfield units.Max Healthcare’s growth is underpinned by a defined expansion pipeline comprising phased brownfield additions, new greenfield hospitals and asset light facilities across major metros and emerging clusters. Momentum is supported by the ramp-up of Dwarka, Noida, Lucknow and Nagpur, continued ARPOB improvement from case-mix enrichment, and rising volumes in oncology, transplants and other high-acuity specialties. The scaling of Max Lab adds further diversified, capital-light growth. As these assets mature and utilisation increases, the FY28 EBITDA base expands meaningfully. Applying a 28x EV/EBITDA multiple to FY28 earnings yields a target price of ₹1218.SagilityBuy in the range of 49.50-51.50

The stock is in uptrend sustaining above its short- and long-term averages and is forming higher high and higher low in long term charts. The stock is currently breaking above its last 3 weeks highs thus offer fresh entry opportunityThe stock has already taken 7 weeks to retrace just 61.8% of its preceding 5 weeks rally (42-58). A shallow retracement signals a higher base formation and an overall positive structure.We expect the stock to head towards 56 levels being the 80% retracement of the recent decline (58-47).(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

India’s headcoach Gautam Gambhir with captain Suryakumar Yadav and Shivam Dube (PTI Photo/Ravi Choudhary)

India’s first World Cup-winning captain Kapil Dev has weighed in on the debate surrounding Gautam Gambhir’s working style, saying the role of a head coach in modern-day cricket is more about player management than hands-on coaching. Gambhir has faced growing criticism after India’s 0-2 Test series loss to South Africa, with questions raised over frequent player rotation and the use of part-time options. Speaking at the Indian Chamber of Commerce’s ICC Centenary Session on Thursday, Kapil suggested the very idea of a “coach” is often misunderstood in today’s game.

“Today the word ‘coach’ is used very loosely. Gautam Gambhir cannot really be a coach. He can be a manager of the team,” Kapil said. “When I talk about a coach, I think of the people who taught me in school and college. Those were my coaches.” Kapil explained that at the international level, specialist players do not need technical instruction from a head coach. “How can you be a coach when someone is already a leg-spinner or a wicketkeeper? How can Gautam coach a leg-spinner or a wicketkeeper?” he asked. Instead, Kapil stressed that the key responsibility lies in managing personalities and creating the right environment. “Management is more important. As a manager, you have to encourage players and make them believe they can do it. Young players look up to you,” he said. According to Kapil, a coach or captain’s biggest role is to provide comfort and reassurance. “The job is to give confidence to the team and always tell them, ‘you can do better’. That’s how I see it,” he added. Reflecting on his own leadership style, Kapil said he made a conscious effort to support players struggling for form. “If someone scores a hundred, I don’t need to have dinner with him,” he said. “I would rather spend time with those who are not performing.” Kapil emphasised that building confidence in underperforming players is crucial to team success. “You need to give them belief. As a captain, your role is not just about your own performance, but about keeping the team together,” he said.

MUMBAI: US-based private equity firm L Catterton has picked up a minority stake in Haldiram Snacks Food amid a rush among investors to take a bite of India’s growing consumer market. The latest investment in Haldiram’s, known for its wide range of namkeen (snacks), sweets and ready to eat products comes less than a year after Singapore’s Temasek, UAE’s IHC and American firm Alpha Wave Global collectively acquired over 10% stake in the snacks brand in the biggest local private equity consumer deal at a valuation of $10 billion. L Catterton did not disclose the specifics of the transaction but people aware of the matter said that it’s a minority investment. Queries sent to a company spokesperson did not elicit any response. The investment has been made from L Catterton’s $400-million India focused fund (reached first close earlier this year) through which it plans to deploy capital in the range of $25-150 million in a clutch of companies. Deals in the local snacks space have heated up with investors vying for a share of the segment that broadly caters to the masses. India’s savoury snacks market is pegged at $6.2 billion. Besides Haldiram’s for which investors are making a beeline, Rajkot’s Balaji Wafers is also set to bag an investment from General Atlantic at a valuation of Rs 35,000 crore. The new generation of family run traditional businesses such as Haldiram’s and Balaji Wafers want to bring professional investors on board to scale their companies and take them global. This year, there’s been a flurry of activity in the broader foods (both packaged food and food services) space – ChrysCapital, for instance, bought bakery chain Theobroma in a more than Rs 2,000-crore deal earlier this year. A partnership with L Catterton which is backed by French luxury group LVMH and Groupe Arnault, the family holding company of LVMH CEO Bernard Arnault will allow Haldiram’s to tap into the PE investor’s global consumer sector expertise and wide industry network. Through the deal, Haldiram’s which is eyeing an IPO in the future, will “endeavour to foster a global India for the world brand,” L Catterton said in a statement on Thursday. “This will involve unlocking further value via a comprehensive range of initiatives in areas such as brand building, new product development, supply chain and distribution optimisation, geographic expansion, as well as talent development,” the PE firm said.

Bangladesh descended into widespread unrest overnight after the death of Sharif Osman Hadi, a prominent youth leader of the country’s 2024 pro-democracy uprising. Thousands of protesters took to the streets of Dhaka late Thursday and early Friday, demanding justice for Hadi, who died in a Singapore hospital after succumbing to gunshot injuries sustained in an assassination attempt last week.Demonstrations spread from Dhaka to other parts of the country, with protesters attempting to march toward Indian diplomatic premises and attacking properties linked to the former ruling Awami League.

Anti-India slogans, protests rock Bangladesh

Protesters in the southwestern city of Rajshahi tried to march toward the office of a regional Indian diplomat, but police stopped the procession. Several videos on social media showed incident of stone pelting near Indian assistant High Commission office.In Dhaka on Wednesday, hundreds of demonstrators attempted to gather outside Indian diplomatic premises, including the residence of India’s deputy high commissioner, prompting police to use tear gas to disperse the crowd.Members of the National Citizen Party (NCP), a major offshoot of Students Against Discrimination (SAD), which led last year’s protests, joined the demonstrations, chanting anti-India slogans and alleging that Hadi’s assailants had fled to India after the killing. Protest leaders called on the interim government to shut the Indian High Commission until the suspects were returned.“The interim government, until India returns assassins of Hadi Bhai, the Indian High Commission to Bangladesh will remain closed. Now or Never. We are in a war!,” PTI quoted Sarjis Alm, a key leader of NCP, sayingMeanwhile, a parliamentary committee on external affairs called the current situation in the neighbouring nation “complex and evolving”.“The committee has been informed that the current situation in Bangladesh is complex and evolving. There is uncertainty regarding the schedule of democratic elections. The political events of August 2024 have created significant instability and uncertainty with incidents of violence, attacks and intimidation of minorities, tribal communities, media groups, intellectuals, journalists, academicians, etc., becoming the norm,” it said.

Media houses vandalised

Several buildings in the capital were set ablaze as the protests escalated, including offices housing the country’s two largest newspapers, Prothom Alo and The Daily Star.Fire officials confirmed at least three incidents of arson, with journalists and staff trapped inside the buildings as firefighters battled the flames, according to media reports.“Several hundred demonstrators reached the Prothom Alo office around 11 pm and later surrounded the building,” PTI quoted a witness saying, who added that the protesters then set the Daily Star office on fire.

Awami League office torched

The violence quickly spread beyond the capital. Protesters torched an Awami League office in Rajshahi and vandalised properties linked to former prime minister Sheikh Hasina, who fled to India after being ousted in last year’s uprising. Demonstrators also blocked a key highway connecting Dhaka with Mymensingh and attacked the residence of a former minister in the southeastern city of Chittagong, according to local media footage.

Sharif Osman Hadi’s death fuel outrage

Hadi, 32, was a senior leader of the student-led platform Inqilab Mancha and a vocal critic of both Hasina. He was shot by masked assailants on December 12 while leaving a mosque in central Dhaka and was later airlifted to Singapore for advanced medical treatment, where he succumbed to his injuries on Thursday. Bangladesh’s interim leader Muhammad Yunus described Hadi’s death as an “irreparable loss for the nation,” announced a day of mourning, and ordered special prayers nationwide. Police have launched a nationwide manhunt for the attackers, releasing photographs of two suspects and offering a reward of five million taka for information leading to their arrest, as authorities warned that the violence risked destabilising the fragile political transition.