Business

HPE Raises Annual Forecasts as AI Server Demand Lifts Quarterly Revenue

Hewlett Packard Enterprise raised its annual profit and revenue forecasts after AI server and networking demand drove a quarterly earnings beat.

NBA Suspends Clippers Owner Ballmer, Strips Five Draft Picks Over Kawhi Deal

The NBA suspended Clippers owner Steve Ballmer for one year, stripped five first-round draft picks and fined the team $30 million over the Kawhi Leonard ca

New York City Bans AI for Students Through 8th Grade for One Year

New York City announced a one-year ban on AI tools for students through eighth grade, with new literacy classes and screen-time caps for older students.

Two Killed and Suspect Dead in Downtown Minneapolis High-Rise Shooting

Two people were killed and seven wounded, including three police officers, in a shooting at a downtown Minneapolis high-rise Wednesday. The suspect is dead

HPE Raises Annual Forecasts as AI Server Demand Lifts Quarterly Revenue

Hewlett Packard Enterprise raised its annual profit and revenue forecasts after AI server and networking demand drove a quarterly earnings beat.

TikTok Fined €530 Million Over Data Transfers to China by Irish Regulator

TikTok has been fined 530 million euros ($601.3 million) by Ireland’s Data Protection Commission (DPC) for violating the European Union’s General Data Protection Regulation...

China EV Makers Report Mixed April Sales as Safety and Innovation Take Focus

Chinese electric vehicle maker Xpeng reported deliveries of 35,045 units in April, maintaining its streak of exceeding 30,000 monthly deliveries for the sixth month...

Tether Plans U.S. Stablecoin Launch Amid Political Outreach and Regulatory Push

Tether, the world’s leading stablecoin issuer, is preparing to launch a new U.S.-based stablecoin, with the rollout expected as early as the end of...

Dickson Poon Moves to Take Dickson Concepts Private Amid Retail Downturn

Hong Kong tycoon Dickson Poon has proposed taking his flagship company, Dickson Concepts (International), private amid a grim outlook for the city's retail sector....

Alibaba Launches Instant Delivery Service Early to Challenge JD.com and Meituan

Alibaba Group Holding has launched its new fast-delivery service, Taobao Instant Commerce, ahead of schedule in a move that intensifies competition with JD.com and...

Hong Kong Stocks Climb as AIA and Xiaomi Rally Amid Economic Concerns

Hong Kong stocks rose on Wednesday, supported by gains in key index constituents such as AIA and Xiaomi, which helped offset concerns about China’s...

HKEX Posts Record Q1 Profit Amid Surge in IPOs and Trading Volume

Hong Kong Exchanges and Clearing (HKEX), the operator of Asia’s third-largest stock market, reported a record-breaking net profit of HK$4.08 billion (US$526 million) for...

TSMC Begins Construction on Third Arizona Chip Plant in Major U.S. Expansion

Taiwan Semiconductor Manufacturing Company (TSMC) has broken ground on a third chip fabrication plant in Arizona, reinforcing its commitment to significantly expand its operations...

Pop Mart Launches Playground Magazine to Strengthen Brand and Global Reach

Chinese toymaker Pop Mart has expanded its brand into the publishing world with the launch of its own pop culture magazine, Playground. The biannual...

Suez Considers Sale of China Water Assets in Strategic Review

French utility group Suez is currently assessing its water infrastructure assets in China as part of a broader strategy to streamline its global operations,...

Google Eyes AI Deal with Apple Amid DOJ Antitrust Battle

Google CEO Sundar Pichai testified in Washington this week that the company is aiming to reach an agreement with Apple by mid-year to integrate...

Topaz Family Office Shifts Focus from US to Asia-Pacific and UAE Amid Tariff Tensions

Topaz Family Office, a Hong Kong-based advisory firm, is urging family offices to pivot away from US assets and reallocate investments toward markets such...

TikTok to Build €1 Billion Data Centre in Finland to Strengthen European Operations

TikTok is moving forward with plans to enhance its European data infrastructure by investing €1 billion (US$1.14 billion) in the construction of its first...

Nvidia Warns U.S. Lawmakers About Huawei’s Rising AI Chip Threat

Nvidia CEO Jensen Huang recently addressed rising concerns about Huawei Technologies' expanding capabilities in artificial intelligence during a confidential meeting with the U.S. House...

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