Business

China Orders State Firms to Speed AI Rollout Across Manufacturing

China's SASAC directed central state-owned enterprises to accelerate AI adoption across manufacturing, from R&D to production and management.

Xi Jinping Urges China, US Youth to Advance Bilateral Cooperation

President Xi Jinping told students from 10 US universities he hopes young people will advance China-US cooperation in a reply to their letter.

China Tests Star-Based Navigation for Its 2030 Jupiter Mission

Chinese researchers tested stellar aberration navigation aboard the Tianhui-7 satellite in January, fixing its position to within 5km ahead of a 2030 Jupit

Hong Kong Cuts Subsidised Physiotherapy Places by a Third for 2027-28

Hong Kong's Education Bureau cut subsidised physiotherapy places by about a third for 2027-28 as graduates face a tightening job market

China Sets 2030 Target for Public Cultural Services in 15th Five-Year Plan

China's Ministry of Culture and Tourism issued a 15th Five-Year Plan for public cultural services, setting 2030 targets and 18 key engineering projects.

Brad Lightcap Leaves OpenAI for New Venture Amid Executive Shakeup

OpenAI COO Brad Lightcap is departing to start his own company, extending a wave of senior executive exits at the AI lab.

Alpha Compute to Buy Pennsylvania Land for $55 Million Data Center Campus

Alpha Compute plans to acquire land and gas rights in Pennsylvania for a $55 million data center campus powered by on-site natural gas.

Sea Limited Shares Surge 9% as Revenue Climbs 48% and Shopee Outlook Strengthens

Sea Limited shares rose about 9% after quarterly revenue climbed 48% and the company delivered a stronger outlook for its Shopee e-commerce business.

US Existing Home Sales Fall 1.7% in July as Record Prices Deter Buyers

US existing home sales dropped 1.7% in July as record prices and the highest mortgage rates in a year kept many prospective buyers out of the market.

Barclays Downgrades Gap and Under Armour in U.S. Apparel Retailer Reshuffle

Barclays cut its ratings on Gap and Under Armour in a reshuffle of U.S. apparel retailers, citing limited upside amid uneven consumer demand.

Oil Climbs as Hopes for Imminent Strait of Hormuz Deal Fade

Crude climbs above $84 in the U.S. and past $89 internationally as hopes for an imminent Strait of Hormuz reopening deal collapse into deadlock.

Hims & Hers Shares Slide as Weight-Loss Expansion Squeezes Margins Despite Revenue Beat

Hims & Hers stock fell after beating revenue estimates but posting a loss, as its costly expansion into weight-loss treatments pressured margins.

On Holding Cuts Sales Outlook as Consumer Demand Weakens, Shares Slide

On Holding shares slid after the Federer-backed sportswear maker cut its annual sales outlook and missed quarterly revenue estimates on weaker consumer dem

Reserve Bank of Australia Holds Cash Rate at 4.35%, Warns Further Hikes Remain Possible

The Reserve Bank of Australia held the cash rate at 4.35% but warned further hikes remain "quite possible" even as house prices continue to fall.

Berkshire Shares Hit Highest Since Abel Took Over After Buybacks and Strong Earnings

Berkshire Hathaway shares rose to their highest since Greg Abel replaced Warren Buffett as CEO, lifted by stock buybacks and strong quarterly earnings.

Rocket Lab Flags Weaker Margins as Satellite Sales Grow and Neutron Costs Mount

Rocket Lab forecast weaker quarterly margins as lower-profit satellite sales and Neutron rocket costs weigh, while outlining plans to expand in Europe.

Trump Media Posts $238 Million Quarterly Loss, Pivots Back to Social Media Focus

Trump Media reported a $238 million second-quarter loss and announced plans to abandon crypto and betting ventures to refocus on its Truth Social platform.

Rocket Lab Stock Falls Sharply From Peak as Analysts Split on Recovery Prospects

Rocket Lab shares have fallen about 57% from their peak, dividing analysts over whether the space company's decline is a buying opportunity or a warning si

US Strategic Petroleum Reserve Falls Below 300 Million Barrels, Lowest Since 1983

The US Strategic Petroleum Reserve has fallen below 300 million barrels, its lowest since 1983, as oil prices rise on fading US-Iran deal hopes.

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