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.

Capital One Says It Closed Trump Organization Accounts After Money-Laundering Review

Capital One says it closed the Trump Organization's accounts after an anti-money-laundering review, the first bank to tie such concerns to Trump's business

EU Clears $55 Billion Electronic Arts Buyout Led by Saudi Arabia’s Wealth Fund

The European Union has cleared the $55 billion take-private acquisition of Electronic Arts led by Saudi Arabia's Public Investment Fund, Silver Lake and Af

Rivian Trims 2026 Spending and Narrows Loss Guidance in Second-Quarter Results

Rivian scaled back its 2026 capital spending and narrowed its projected losses as the EV maker reported second-quarter results amid sector pressures.

MiniMax Launches H3 Video AI Model With Open Weights, Challenging ByteDance on Price

Chinese AI firm MiniMax has launched its H3 multimodal video generation model with open weights and low pricing, challenging ByteDance's Seedance.

Oil Giants Set to Report Bumper Profits as US-Iran Conflict Drives Up Fuel Prices

Exxon Mobil and Chevron are expected to report strong Q2 profits as the US-Iran conflict disrupted Strait of Hormuz shipments and drove fuel prices higher.

Trump Media Launches Paid Service Offering Faster Access to Truth Social Posts

Trump Media and Technology Group has launched a subscription service giving paying clients faster access to Truth Social posts, with tiers up to $100,000 a

South Korea’s KOSPI Posts Record Rally as Chip Giants Fuel Global AI Trade Optimism

South Korea's KOSPI logged its best-ever day as Samsung and SK Hynix surged on AI demand, while the Bank of Japan held rates steady.

Oil Tops $100 as Iran War Widens, Squeezing Consumers at Pumps and Stores

Crude oil surged past $100 a barrel amid renewed Middle East fighting, pushing gasoline above $4 a gallon and threatening higher costs for U.S. shoppers.

Apple Faces $460 Billion Selloff as Chip Shortages Cloud Growth Outlook

Apple is heading for a $460 billion market value drop, its worst post-earnings slide in 13 years, after cautious guidance tied to chip shortages.

Top Certificate of Deposit Rates Reach 4.35% as Savers Seek Long-Term Yields

Certificate of deposit rates are reaching up to 4.35% APY this summer, drawing savers seeking fixed returns amid uncertainty over future interest-rate cuts

Analysts Downgrade Roblox as Platform Transition and Age Checks Slow Monetization

Analysts at BMO and Deutsche Bank downgraded Roblox as a platform transition and new age-verification system weighed on second-quarter monetization.

Fed Dissenters Defend Rate Hike Votes, Warning Inflation Demands Immediate Action

Federal Reserve officials who backed higher interest rates say immediate action is needed as inflation stays above the 2% target for over five years.

Citadel Acquires Bulk of Situational Awareness’s Stock Portfolio After AI Losses

Citadel has acquired most of Situational Awareness's stock holdings after the fund suffered heavy losses tied to a decline in AI shares.

Aschenbrenner’s AI Hedge Fund Faces Margin Calls, Drawing Comparisons to LTCM Collapse

Leopold Aschenbrenner's AI hedge fund Situational Awareness faces margin calls after a 439% surge, drawing comparisons to the 1998 collapse of LTCM.

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