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BYD Stock Hits Record High as It Overtakes Tesla in European EV Sales

May 23, 2025 05:16 am UTC| Business

BYDs Hong Kong-listed shares (HK:1211) soared to a record high of HK$477.80 on Friday, driven by news that the Chinese electric vehicle (EV) maker outsold Tesla (NASDAQ:TSLA) in Europe for the first time. Shares later...

Major U.S. Banks Explore Joint Stablecoin to Compete with Crypto Rivals

May 23, 2025 04:11 am UTC| Business

Top U.S. banks, including JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), Citigroup (NYSE:C), and Wells Fargo (NYSE:WFC), are in early discussions to create a joint stablecoin, according to a Wall Street Journal...

Jiangsu Hengrui Surges 37% in Hong Kong Debut After $1.27B IPO

May 23, 2025 04:06 am UTC| Business

Jiangsu Hengrui Pharmaceuticals Co (HK:1276) made a powerful entrance on the Hong Kong Stock Exchange on Friday, with shares soaring over 37% in early trading after a $1.27 billion IPO. The offering was priced at...

FCC Bans Chinese Labs from Testing Electronics Amid National Security Concerns

May 23, 2025 03:54 am UTC| Governance Business Technology

The Federal Communications Commission (FCC) has finalized new rules prohibiting Chinese laboratories considered national security risks from testing electronic devicesincluding smartphones, cameras, and computersfor the...

FTC Drops PepsiCo Price Discrimination Case, Sparks Debate Over Big Retail Favoritism

May 23, 2025 03:49 am UTC| Business Law

The U.S. Federal Trade Commission (FTC) has officially dropped its lawsuit accusing PepsiCo (NASDAQ:PEP) of violating the Robinson-Patman Act by giving Walmart (NYSE:WMT) favorable pricing, a move that has reignited debate...

Trump Reviews CFIUS Split Decision on Nippon Steel’s $14B U.S. Steel Deal

May 23, 2025 03:18 am UTC| Business Politics Governance

President Donald Trump is reviewing a divided recommendation from the Committee on Foreign Investment in the United States (CFIUS) regarding Nippon Steels $14 billion bid for U.S. Steel. While the panel was not unanimous,...

FTC Drops Challenge Against Microsoft’s $69B Activision Deal, Citing Public Interest

May 23, 2025 03:16 am UTC| Business Law

The U.S. Federal Trade Commission (FTC) has officially dropped its case against Microsofts (NASDAQ:MSFT) $69 billion acquisition of Activision Blizzard (NASDAQ:ATVI), the gaming giant behind Call of Duty. The decision...

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Economy

ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain

The European Central Bank (ECB) does not currently see evidence that the U.S.-Israeli conflict with Iran is triggering broader inflationary pressures across the euro area, although policymakers remain alert to potential...

Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions

Asian stock markets traded mostly higher on Wednesday after weaker-than-expected U.S. inflation data eased expectations of a near-term Federal Reserve interest rate hike, although escalating tensions in the Middle East...

Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment

Most Asian currencies traded in narrow ranges on Wednesday as investors remained cautious over escalating tensions in the Middle East and weaker-than-expected Chinese economic growth, despite a softer U.S. dollar following...

China Home Prices Fall Again in June Despite Slower Pace of Decline

Chinas new home prices continued to decline in June, highlighting the ongoing challenges facing the countrys property market despite signs that the pace of deterioration is easing. Official data released by the National...

US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions

U.S. consumer inflation likely eased in June, but economists say the slowdown may provide little relief for households or significantly reduce the likelihood of another Federal Reserve interest rate hike later this year,...

Politics

Trump ICC Sanctions Challenged as Advocacy Groups File Free Speech Lawsuit

Two U.S.-based advocacy organizations have filed a lawsuit against the Trump administration, arguing that sanctions targeting the International Criminal Court (ICC) violate First Amendment free speech protections. The...

US Military Launches New Strikes on Iran, Targets Threats to Strait of Hormuz Shipping

The U.S. military launched a new wave of strikes against Iran on Wednesday, marking another escalation in tensions across the Middle East. According to the U.S. Central Command (CENTCOM), the military operation began at...

Ukraine, EU Sign Landmark Drone Deal to Boost Defense Production

Ukraine and the European Union have signed a landmark drone cooperation agreement aimed at combining Ukraines battlefield expertise with Europes industrial strength to accelerate drone manufacturing and strengthen regional...

Zelenskiy Cabinet Reshuffle Puts Ukraine Defense Minister Fedorov’s Future in Focus

As Ukrainian President Volodymyr Zelenskiy prepares another cabinet reshuffle, the future of Defense Minister Mykhailo Fedorov has emerged as one of the biggest questions, with potential implications for Ukraines war...

Trump Administration Launches AI Cybersecurity Partnership to Protect Critical Infrastructure

The Trump administration is launching a new initiative to strengthen U.S. cybersecurity by bringing together leading artificial intelligence developers and operators of critical infrastructure to identify and address...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

Apple Intelligence Cleared for China as Alibaba and Baidu AI Power iPhone Features

Apple has moved a step closer to launching Apple Intelligence in China after the countrys cyberspace regulator officially registered the companys on-device generative AI service for use on iPhones. The approval marks a...

Alibaba Stock Jumps as China Approves Apple Intelligence Powered by Qwen AI

Alibaba Group shares climbed about 5% in U.S. premarket trading on Wednesday after Chinese regulators approved Apples on-device artificial intelligence platform for launch in China, marking a major step for the iPhone...

ASML Raises 2026 Outlook as AI Chip Demand Lifts Q2 Earnings

ASML Holding (AS: ASML) reported stronger-than-expected second-quarter 2026 earnings on Wednesday, fueled by robust demand for artificial intelligence (AI) chip manufacturing equipment and higher sales from its installed...

Arm Stock Falls After HSBC Downgrade, Citing Limited Near-Term AI Upside

Arm Holdings shares came under pressure after HSBC downgraded the semiconductor designer to hold from buy,arguing that the companys recent rally has already priced in much of its long-term artificial intelligence (AI)...

SK Hynix Stock Soars as AI Memory Demand Outlook Fuels Chip Rally

SK Hynix shares surged nearly 13% in Seoul on Wednesday, leading a broad rally in South Korean semiconductor stocks as easing U.S. inflation and renewed optimism over artificial intelligence (AI) memory demand boosted...