TOKYO (Reuters) -Japan raised support for the production of storage batteries to up to $2.2 billion, the government said, pledging nearly $1 billion in new subsidies for Toyota and other manufacturers as part of a push towards greater economic supply chain security. The move shows Tokyo is confident about ramping up battery production support after…
By Josh Ye HONG KONG (Reuters) -China’s tech firm Baidu Inc said on Friday that it has obtained a commercial licence from regulators for its driverless ride-hailing service in parts of Shenzhen, the country’s tech hub. Its fleet of driverless robotaxis, under the brand Apollo Go, will be allowed to operate and collect fares from…
(Reuters) – Global equity funds witnessed their largest inflow in 12 weeks, as stocks surged on expectations that subdued U.S. inflation data would prompt the Federal Reserve to pause rate hikes for now. As anticipated, the Federal Reserve left interest rates unchanged on Wednesday, breaking a streak of 10 consecutive rate hikes. In the week…
WARSAW (Reuters) – Polish Prime Minister says Intel’s new semiconductor assembly and test facility near Wroclaw, western Poland, will the biggest greenfield investment in the country and that he hoped it would attract other investors. Intel announced on Friday it will invest up to $4.6 billion in the new facility as part of a multi-billion-dollar…
By Fanny Potkin and Panu Wongcha-um SINGAPORE/BANGKOK (Reuters) -Southeast Asian countries are drawing up governance and ethics guidelines for artificial intelligence (AI) that will impose “guardrails” on the booming technology, five officials with direct knowledge of the matter told Reuters. Regulators across the world are rushing to draft regulations to govern the use of generative AI,…
SEOUL (Reuters) – South Korea and the United States will hold a high-level meeting on cyber security in Washington on June 20, the presidential office in Seoul said on Friday. The meeting is seen as a follow-up to the summit between South Korean President Yoon Suk Yeol and U.S. President Joe Biden in April. (Reporting…
By Brenda Goh SHANGHAI (Reuters) -U.S. memory chipmaker Micron said on Friday it was committed to China and would invest 4.3 billion yuan ($603 million) over the next few years in its chip packaging facility in the Chinese city of Xian. The company has been targeted by China’s cyberspace regulator, which last month said the…
(Reuters) -BlackRock, the world’s biggest asset manager, on Thursday filed for a bitcoin exchange-traded fund (ETF) that would allow investors to get exposure to the cryptocurrency, as the asset class comes under intense regulatory scrutiny. BlackRock’s iShares Bitcoin Trust will use Coinbase Custody as its custodian, according to a filing with the U.S. Securities and…
HONG KONG (Reuters) – Chinese electric vehicle maker Xpeng Inc on Thursday expanded its self-driving capability to Beijing as part of the automaker’s expanded launch of City NGP (Navigation Guided Pilot) across the mainland. City NGP is now available in Guangzhou, Shenzhen, Shanghai and Beijing, with plans to expand it to dozens of cities within…
By Zeba Siddiqui and Raphael Satter (Reuters) – The U.S. Department of Energy and several other federal agencies were hit in a global hacking campaign that exploited a vulnerability in widely used file-transfer software, officials said on Thursday. Data was “compromised” at two entities within the energy department when hackers gained access through a security…
