Business

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

Business Lynn Hatem -

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 BT China Team -

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

China BT China Team -

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 BT China Team -

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.

China BT China Team -

Latest

Etsy to Cut 12% of Workforce in Restructuring Aimed at Long-Term Growth

Etsy will lay off roughly 12% of its staff in a restructuring effort to streamline operations and position the online marketplace for long-term growth.

Activist Investor Starboard Value Builds New Stake in Shake Shack

Activist investor Starboard Value has built a new stake in fast-casual chain Shake Shack, its latest move into the restaurant sector following bets on Star

Sandisk Shares Slide as Revenue Forecast Falls Short of Elevated Wall Street Expectations

Sandisk shares dropped after its revenue forecast midpoint fell below analyst estimates, raising questions about elevated memory-sector valuations.

E.l.f. Beauty Profits Nearly Double on $50 Million Tariff Refund Windfall

E.l.f. Beauty nearly doubled quarterly profit after a $50 million tariff refund and raised its annual forecasts, drawing fresh Wall Street upgrades.

Google Chief Scientist Jeff Dean to Depart After 27 Years in AI Reshuffle

Google chief scientist Jeff Dean is leaving after 27 years amid a major AI restructuring, sending Alphabet shares down roughly 5%.

Circle Names BlackRock and Visa as Initial Arc Partners, Signaling Institutional Backing

Circle unveiled BlackRock, Visa and others as initial Arc blockchain partners as quarterly revenue rose and shares surged 6% on accelerating stablecoin cir

Amazon’s Zoox to Launch First Paid Robotaxi Service in Las Vegas on Aug. 10

Amazon-owned Zoox will begin charging for autonomous rides in Las Vegas on August 10, its first commercial market and a major step into the robotaxi race.

AMD Shares Slide After Earnings as Investors Demand a Bigger AI Payoff

AMD stock fell about 5% after its latest earnings as investors sought a bigger AI payoff, citing muted upside and margin concerns despite analyst optimism.

Eli Lilly Lifts Revenue Forecast as Obesity and Diabetes Drug Demand Surges

Eli Lilly lifted its full-year revenue forecast as surging Mounjaro and Zepbound sales widened its lead over Novo Nordisk in the weight-loss drug market.

SpaceX Shares Slide 10% as Surging AI Spending Overshadows First Earnings Report

SpaceX shares fell about 10% after its first earnings report revealed surging AI capital spending, even as Elon Musk moved up a $1 trillion revenue target

US and Japan Coordinate on Yen Support as Currency Weakness Raises Global Concerns

The US and Japan are moving toward rare coordinated action to prop up the weakening yen, with Washington leaning on the Federal Reserve to limit global spi

US Joins Japan in Rare Currency Intervention to Prop Up the Faltering Yen

The US has joined Japan in a rare coordinated currency intervention to support the faltering yen, with analysts questioning the reported use of euros.