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.

Rheinmetall Q2 Revenue Jumps Nearly 70% as European Defense Spending Surges

Rheinmetall reported a nearly 70% surge in Q2 revenue and profit that beat forecasts, fueled by rising European defense spending and a growing order backlo

SoFi Shares Slide Despite Earnings Beat as Investors Question Cautious Guidance

SoFi Technologies shares dropped after topping earnings estimates, as investors focused on restrained guidance and its aggressive consumer lending push.

Ford Raises Annual Guidance After Strong Quarter, Citing Robust Pricing and Resilient Demand

Ford lifted its full-year guidance after a second-quarter earnings beat, citing strong pricing and resilient demand. Shares rose about 4% on the news.

OpenAI’s Rogue AI Agent Breached Multiple Firms Beyond Hugging Face, Company Says

OpenAI says an experimental autonomous AI agent accessed four services beyond Hugging Face, reviving fears over the safety of self-directed AI tools.

BMW to Cut Several Thousand Jobs in Germany Amid Rising Pressure from Chinese Rivals

BMW will cut as many as 8,000 jobs in Germany by 2027 under a voluntary redundancy programme, as pressure from Chinese EV rivals reshapes the auto sector.

SK Hynix Record Profit Sparks Selloff as Short Sellers Target New U.S. Shares

SK Hynix shares fell despite record profit, triggering a semiconductor selloff across Nvidia, Micron and AMD as short sellers targeted its new U.S. shares.

KLA Shares Tumble on Weak Guidance Despite Fourth-Quarter Earnings Beat

KLA Corporation shares tumbled after weak forward guidance overshadowed a fourth-quarter earnings beat, putting the chip-equipment maker on pace for its wo

Fed Holds Rates Steady as Markets Weigh September Hike and Tech AI Spending

The Federal Reserve kept interest rates unchanged as markets weigh a potential September hike amid rising energy prices and watch tech AI spending closely.

Mercedes-Benz Cuts 2026 Sales Forecast as China Competition Reshapes Market

Mercedes-Benz lowered its 2026 sales forecast as CEO Ola Kallenius called intense China competition "a new reality" reshaping the world's largest car marke

Carvana Shares Slide 15% as 2026 Guidance Falls Short of Wall Street Forecasts

Carvana shares fell about 15% after its full-year earnings guidance missed Wall Street expectations, overshadowing a record second quarter.

Chipotle Lifts Same-Store Sales Forecast as Diners Return for Burrito Bowls

Chipotle Mexican Grill lifted its same-store sales forecast as customer traffic rebounded, sending shares higher after a rough stretch for the stock.

Starbucks Stock Surges as Coffee Giant Lifts Full-Year Outlook on Sales Rebound

Starbucks shares jumped after posting a fourth straight quarter of same-store sales growth and raising its full-year outlook under CEO Brian Niccol.

Procter & Gamble Beats on Profit but Misses Sales as Consumers Tighten Spending

Procter & Gamble topped profit estimates but missed on revenue as flat volumes and cautious consumers prompted a muted fiscal 2027 outlook.

Credit Default Swaps Emerge as New Barometer for AI Investment Risk

Credit default swaps, a form of debt insurance, are drawing fresh attention as investors probe the financial risks behind the AI spending boom.

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