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ABC Apologizes After Claudia Long Fabricates False Claims About Two High-Profile Politicians

The ABC has offered a humble apology following an erroneous accusation made by one of its reporters who falsely implicated two Nationals MPs for neglecting their constituencies during critical times when people are facing life-threatening situations. Claudia Long, the political correspondent for the national broadcaster, stated on "Insiders" last Sunday that National Party members of parliament were absent from their constituencies when the decision was made to dissolve the Coalition. "I believe another crucial aspect for regional areas is having a local representative present during times of crisis, such as floods where lives are lost—this situation occurred earlier this week," she explained to the show. Long particularly mentioned two individuals who perished in the flooding waters within Alison Penfold's potential electorate of Lyne on the Mid-North Coast. Additionally, he pointed out another fatality in Pat Conaghan’s constituency of Cowper, where...
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Why Intel's Stock Price Is Rocketing Up Today

Shares of Intel (NASDAQ: INTC) are surging on Monday. The company's stock had gained 6.8% at noon ET and was up as much as 8.7% earlier in the day. The strong performance comes as the S&P 500 the index stayed steady and the Nasdaq Composite index fell 0.4%.

The company's shares are surging following reports outlining new CEO Lip-Bu Tan's strategies for a major corporate restructuring.

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Intel's New CEO is making significant changes.

Reuters reported today that Intel's incoming CEO, Lip-Bu Tan, is considering sweeping changes that could overhaul the struggling company. Tan plans to shift the company's approach to artificial intelligence (AI) and make significant staff cuts aimed at addressing a "slow-moving and bloated middle management layer." Tan told employees last week that the company will need to make "tough decisions," signaling he will take a more aggressive approach than his predecessor.

In the overhaul, Tan’s initiatives will concentrate on Intel's manufacturing processes. The firm's foundry division, responsible for producing chips for outside clients and often viewed as disappointing recently, will actively seek out additional customers under Tan's leadership.

Tan's AI initiatives involve developing chips designed to enhance competitiveness. uber-lucrative data center clients and venturing into software and robotics.

These modifications are long overdue.

Intel has struggled in the last few years, falling behind as the AI boom takes off. The company even reported its first annual loss in nearly 40 years last year.

Tan's plan presents a compelling vision, though many of its fruits could take several years to pay off, such as AI chips that can compete with rivals'. Still, I think Intel could be a contender in a few years' time, and given how much its stock has been beaten down in recent years, it is well valued.

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