U.S. and Philippine forces sink mock enemy ship in disputed South China Sea

pbs.org U.S. and Philippine forces, backed by an Australian air force surveillance aircraft, unleashed a barrage of high-precision rockets, artillery fire and airstrikes Wednesday…

Scoop: Justin Sun shot down BitTorrent moderation despite porn concerns

protos.com Justin Sun, whose Rainberry LLC acquired BitTorrent in 2018, pushed a no-moderation policy at the file-sharing giant, as stated in documents received by Protos. According to…

Saudi Arabia's $100 billion AI and semi-chip fund says it will divest from China if the US asks

businessinsider.com Abdullah Al-Eisa/ Getty Images Saudi AI firm Alat would divest from China if the US requests it, CEO Amit Midha told Bloomberg. Saudi Arabia has been pouring billions into…

Tesla Shareholders to Vote on Paying Elon Musk and More

247wallst.com Tesla (Nasdaq: TSLA) shareholders have a bigger agenda than usual ahead of this year’s shareholder meeting in mid-June. The EV maker’s board of directors has asked investors…

TikTok is taking the US government to court in a showdown of free speech vs. national security

aol.com None This post originally appeared in the Insider Today newsletter. • None You can sign up for Business Insider's daily newsletter here. Halfway to the weekend! Who says the…

China takes advantage of Putin's imploding gas giant

newsweek.com Russian state-controlled gas giant Gazprom Group reported losing money for the first time in over 20 years last year, with increased but discounted exports to China failing…

Opening Bell: 4.24.24

dealbreaker.com ‘Thunder Run’: Behind Lawmakers’ Secretive Push to Pass the TikTok Bill [NYT]For nearly a year, lawmakers and some of their aides worked to write a version of the bill,…

US climate envoy John Podesta's diplomacy put to test at China climate talks

semafor.com Semafor Signals Supported by Insights from E&E News, Axios, and Politico The News John Podesta, the US’s envoy on climate, is set to meet with his Chinese counterpart, Liu…

Can Macao — the “Las Vegas of the East”

marketplace.org This story was produced by our colleagues at the BBC. China wants to transform Macao, known as the “Las Vegas of the East,” into a real Vegas that relies more on…

Intel sees revenue falling below midpoint after U.S. Huawei ban

bnnbloomberg.ca Same old story for Intel, the bar was low but they still couldn’t pull it off: analyst (Bloomberg) -- Intel Corp. expects second-quarter revenue to fall below the midpoint…

China’s exporters in a bind as banks put Russia deals under microscope

scmp.com Banks still handling payments from Russia – mostly large institutions like Bank of China – are taking extra time to review each transaction, stoking dread among exporters as…

ZhongAn May Be Betting On Property Rebound With Shanghai Office Buys

benzinga.com ZhongAn has agreed to buy two office buildings in Shanghai from a joint venture majority-owned by the Rockefeller Group • China’s property market has been in a prolonged…

Generative AI is speeding up human-like robot development. What that means for jobs

cnbc.com BEIJING — ChatGPT-like artificial intelligence is speeding up research and bringing humanoid robots closer to reality in China, home to many of the world's factories. AI has…

China is falling behind in race to become AI superpower

semafor.com Semafor Signals Supported by Insights from Nature, the Financial Times, Bloomberg, and The New York Times The News US-imposed curbs on advanced technology exports to China…

iPhone price cuts might have saved Apple from an even bigger China crisis

aol.com None Tim Cook might have helped Apple avert a wider crisis in China. • None iPhone sales rose 12% in China in March after months of decline. • None The reversal hasn't come…

The Morning Risk Report: FDIC Investigation Finds Culture Rife With Sexual Harassment, Discrimination

createsend.com TikTok filed a federal lawsuit Tuesday challenging the constitutionality of a new law that requires a sale or ban of the popular social-media app, setting up a court…

Tech war: Huawei’s growing laptop business in China under threat after US revokes Intel, Qualcomm chip export licences

scmp.com The US commerce department confirmed that some export licences related to Huawei had been withdrawn, the report said. The US government has revoked special licences that let…

US Mulls Over Regulations To Restrict China's Access To Advanced AI Software Behind Apps Like ChatGPT

benzinga.com The Biden administration is reportedly contemplating the introduction of new regulations aimed at curbing China’s access to advanced AI models, such as those utilized in…

Tesla Tumbles On Reports Of DoJ Securities Fraud Probe Over Deceptive Self-Driving Capabilities

zerohedge.com Tesla Tumbles On Reports Of DoJ Securities Fraud Probe Over Deceptive Self-Driving Capabilities In what appears to be just the latest 'lawfare' angle of attack against Elon…

China's military satellites are watching America's every move

newsweek.com China is fast challenging the United States' monopoly in space as new remote-sensing satellites have allowed Beijing to monitor American military assets globally. "The PLA…

Tesla seeks to run robotaxi service in China after Musk’s Beijing visit: report

scmp.com “Testing FSD on robotaxis means Tesla has not received the nod from Beijing to fully commercialise the autonomous driving technology,” said Gao Shen, an independent industry…

Global Mofy Metaverse Pioneers the "Next Generation" of Content Creation with Gausspeed

benzinga.com BEIJING, May 08, 2024 (GLOBE NEWSWIRE) -- Global Mofy Metaverse Limited (the "Company" or "Global Mofy Metaverse") GMM, a technology solutions provider engaged in virtual…

2 Chinese EV companies seem to be ganging up on Elon Musk's Tesla

aol.com May 8, 2024 at 6:31 AM • None EV company Nio is launching a new affordable EV brand in China. • None Competitor BYD will reportedly supply batteries for the new range, which…

World Health Organization Is Making a Power Grab

newsweek.com The World Health Organization wants the power to run the world. In three weeks, it will make its bid for global control. The World Health Assembly, the 194-member body…

Toyota says looming investment to weigh on profit after blockbuster fourth quarter

theglobeandmail.com Toyota Motor TM-N forecast a 20 per cent profit decline in the current financial year on Wednesday, citing looming investment in both its suppliers and strategy after it…

Musk Offered to Launch Robotaxis in China for FSD Approval

asiafinancial.com Tesla chief Elon Musk proposed to test Tesla’s full self-driving (FSD) system in China by deploying it in the country’s robotaxis, according to Chinese state media reports…

Mercedes back-pedals on 2030 electrification target as EVs sales slow

fortune.com Mercedes-Benz Group AG is backing away from ambitious electric-vehicle goals as weakening sales push the luxury-automaker to its tried-and-true combustion engines for the…

UK opens investigation of MoD payroll contractor after confirming attack

theregister.com UK Government has confirmed a cyberattack on the payroll system used by the Ministry of Defence (MoD) led to "malign" forces accessing data on current and a limited number…

Huawei’s licenses to buy chips from Qualcomm and Intel revoked

fortune.com The US has revoked licenses allowing Huawei Technologies Co. to buy semiconductors from Qualcomm Inc. and Intel Corp., according to people familiar with the matter, further…

Hong Kong Court Bans ‘Glory to Hong Kong,’ a Pro-Democracy Song

nytimes.com A Hong Kong court on Wednesday granted a government request to ban a popular pro-democracy anthem, raising further concerns about free speech in the city. The decision,…

China’s Elderly Workers Can’t Afford to Retire, Numbers Soaring

asiafinancial.com China is facing a demographic crisis. The country has 94 million workers over the age of 60, many of whom cannot afford to stop working. And that number is set to explode…

China turns tables on US ally over "unprofessional" fighter jet maneuver

newsweek.com China has defended the actions of an air force pilot who was accused of endangering an Australian helicopter crew during an air intercept over the weekend, arguing on…

TikTok’s US lawsuit to fight ban cheered on by Chinese state media

scmp.com Echoing arguments that TikTok made in its legal challenge, Xinhua said the law “is raising concerns about constitutional rights and the principle of fair competition being…

A millennial couple moved from Arizona to China to teach at an international school. The cost of living is much cheaper, though the language barrier is…

businessinsider.com Scott Vleeschouwer moved from Arizona to China to work at an international school. Scott Vleeschouwer Scott and Marissa Vleeschouwer relocated from Arizona to China to work…

Russia reveals new China nuclear moon base details

newsweek.com Details about joint plans between Moscow and Beijing to put a lunar nuclear reactor within the next decade have been revealed by the head of Russia's space agency. In March,…

Futures tread water, more earnings ahead, Toyota reports

investing.com Investing.com -- U.S. stock futures hug the flatline as markets assess the potential of Federal Reserve interest rate cuts later this year. More quarterly earnings reports…

Saudi Arabia’s $100 Billion AI Fund Will Divest China If US Asks

finance.yahoo.com The head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence technology said the country would divest from China if it were asked to do so by…

Weibo Corporation to Report First Quarter 2024 Financial Results on May 23, 2024

benzinga.com BEIJING, May 8, 2024 /PRNewswire/ -- Weibo Corporation WB, a leading social media for people to create, share and discover content, will announce its unaudited financial…

U.S. and China trade divisions threaten a 'reversal' for global economy, IMF official warns

cnbc.com Differences between U.S.-led Western and China-aligned economic blocs threaten global trade cooperation and economic growth, a top official with the International Monetary…

NYC has most millionaires in the world despite COVID exodus

nypost.com The Big Apple is home to the most millionaires in the world — despite the recent exodus of wealth spurred on by the pandemic. There are 350,000 millionaires in New York…

Is It Actually Time To Get Bullish On China?

sherwood.news It isn’t going to make the New York Times best sellers list. But the biggest book of the year, for investors, could well turn out to be a modest volume that hit bookshelves…

Phantom forces at work in China's bull market rally

asia.nikkei.com Beijing's talk of economic change yet to translate into action Beijing has much to prove as bulls return to the market for Chinese stocks. © Reuters William Pesek is an…

Global Times: China-Serbia ironclad friendship sets a role model in the new era: Chinese Ambassador to Serbia Li Ming

benzinga.com BEIJING, May 8, 2024 /PRNewswire/ -- China and Serbia have long been renowned for their ironclad friendship. The bond between the two nations continues to strengthen with…

Tesla sends its former Asia head back to China as sales of its Shanghai-made EVs plunged 18% in April

fortune.com Tesla Inc. is sending executive Tom Zhu back to China, where he led the carmaker’s entry into the country, the Wall Street Journal reported. Zhu, one of the company’s three…

EU Leaders Confronts China's Xi Over Trade At Paris Summit

zerohedge.com EU Leaders Confronts China's Xi Over Trade At Paris Summit By Dorothy Li of The Epoch Times The European Union pressed China over its unfair trade practices as communist…

China dials up scrutiny of IPO hopefuls with on-site inspections, leaving investment bankers anguished

scmp.com The moves have resulted in a growing list of local companies withdrawing initial public offering (IPO) applications. China’s securities regulator has said it aims to ensure…

BYD reiterates that it has no plans to sell in the ‘very protective’ U.S

aol.com BYD, the Chinese EV giant backed by Warren Buffett’s Berkshire Hathaway, has global ambitions—expanding its presence in countries like Japan, Thailand, and Mexico to sell…

Saudi Arabia AI fund Alat would divest from China if US asked, CEO Says

scmp.com Saudi Arabia AI fund Alat would divest from China if US asked, CEO Says The head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence…

In rapidly aging China, millions can't afford to retire

japantimes.co.jp After three decades of selling homemade buns on the streets of the Chinese city of Xian, 67-year-old Hu Dexi would have liked to slow down. Instead, Hu and his older wife…

Scholars propose ‘painful’ industrial revamp to solve China’s overcapacity bind

scmp.com “Serious excess production will trigger painful restructuring and adjustment, eventually leading to a more mature and stable sector,” Lu said in an interview with the…

China Remains World's Biggest Jailer Of Journalists: World Press Freedom Index 2024

zerohedge.com China Remains World's Biggest Jailer Of Journalists: World Press Freedom Index 2024 Authored by Alex Wu via The Epoch Times (emphasis ours), A policeman covers a camera to…

Chinese unicorn Zhipu AI to launch Sora rival as early as 2024: report

scmp.com Zhipu AI is expecting an explosion of LLMs capable of turning text prompts into videos this year because of growing demands from a diverse array of customers with needs…

China's 2022 Military Spending Reaches $710 Billion, Over Triple What Beijing Announced

zerohedge.com China's 2022 Military Spending Reaches $710 Billion, Over Triple What Beijing Announced By Frank Fang of Epoch Times China’s communist regime spent $710.6 billion on its…

‘The worst seems over’ for ‘cheap’ and ‘reasonably attractive’ Chinese stocks: EFG Asset Management

scmp.com “The worst seems over for China, and a lot of negative news has already been priced in. One of the constraints on the Chinese market is the property sector, but that risk is…