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.

Washington Funded Yen Intervention by Selling Euros to Shield Treasury Market, Reports Reveal

New reporting reveals Washington sold euros rather than Treasurys to fund its yen intervention, shielding the sensitive U.S. bond market as the yen holds g

Wayfair Posts Strongest U.S. Growth Since 2020 in Second-Quarter Turnaround

Wayfair reported its strongest U.S. sales growth since 2020 in the second quarter, signalling a rebound for the online home goods retailer.

Bezos Files to Sell $4 Billion in Amazon Stock as Shares Hit Record High

Jeff Bezos has filed to sell about $4 billion in Amazon stock just after the company touched $3 trillion, sending shares lower.

Unitree Valued at Over 7.4 Billion Yuan Following IPO, Citic Estimates

Chinese robotics maker Unitree is expected to be worth more than 7.4 billion yuan (about $1 billion) following its planned IPO, according to Citic Securiti

Kimberly-Clark Cuts Annual Forecasts After China Social Media Disruption Hits Diaper Sales

Kimberly-Clark lowered its full-year forecasts after a social media disruption in China weighed on Huggies diaper sales and cut quarterly profit.

Caterpillar Profit Climbs as Data Center Buildout Powers Equipment Demand

Caterpillar's second-quarter profit rose on strong demand for power and construction equipment amid a nationwide data center buildout.

Palantir Stock Soars on Strong Second-Quarter Results as Analysts Turn Bullish on AI Growth

Palantir shares jumped after strong second-quarter results, prompting analyst upgrades and renewed bullishness on its AI software business.

Pfizer Beats Quarterly Estimates on Strong Non-Covid Sales, Lifts Revenue Floor

Pfizer topped quarterly profit and revenue estimates on strong Eliquis demand, raising its revenue floor while cutting Covid product forecasts to $4 billio

BP Profits Surge 144% to $5.7 Billion on Higher Oil Prices and Refining Boom

BP reported a $5.7 billion second-quarter profit, a 144% surge that beat Wall Street expectations, driven by higher oil prices and stronger refining margin

Volvo Cars Sales Slip 4% Over Three Months as China Demand Weakens

Volvo Cars reported a 4% sales decline over the three months through July, weighed down by weakening demand in China amid intensifying competition.

China Unveils Drone Export Controls, Sanctions on Six US Firms Over Trade Restrictions

China announced drone export controls and a ban on dealings with six American entities in response to recent US trade restrictions, deepening tensions.

CoreWeave Enters Indonesia with First Data Center in Asia-Pacific Region

CoreWeave announces its first Asia-Pacific data center in Indonesia, expanding AI computing infrastructure across Southeast Asia's growing digital market.

Walmart Shares Slip After Oppenheimer Downgrade Citing Difficult Short-Term Setup

Walmart shares fell after Oppenheimer downgraded the retailer and removed its price target, warning that high expectations leave little room for upside.

Philadelphia Fed’s Paulson Comfortable With Current Rates but Signals Flexibility

Philadelphia Fed President Paulson says current interest rates are appropriate but keeps an open mind amid persistently high inflation.

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