By Samuel Shen and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – The trademark Chinese patriotism is back at play in markets. As Japan and the United States place fresh curbs on Chinese technology firms, local investors are scooping up shares of those firms and state companies, and reaping handsome rewards. China has for years been guiding money…
By Mike Dolan LONDON (Reuters) – Britain’s interest rate horizon skyrocketed this week on another alarming inflation reading that some fear entrenches the economy as outlier among Western peers – and yet the pound didn’t know whether to laugh or cry. Unlike its dire reaction to UK bond market ructions surrounding last September’s government budget…
By Navya Mittal and Himanshi Akhand (Reuters) -Australia’s Latitude Group on Friday forecast a steep fall in fiscal 2023 earnings due to higher credit losses and provisions associated with a recent cyberattack, sending its shares nearly 10% lower. The company, which provides credit cards and personal loans for some of Australia’s biggest retailers, said in…
BEIJING (Reuters) – Chinese search engine giant Baidu’s CEO Robin Li said on Friday that the company will “very soon” officially launch Ernie 3.5, a generative AI large-language model that will power Baidu’s ChatGPT-like app Ernie Bot and upgrade its search engine. Li made the announcement at the Zhongguancun Forum, one of China’s most well-known…
By Aditya Soni (Reuters) -Nvidia Corp surged 24% on Thursday in one of the largest one-day gains in value for a U.S. stock, after its stellar revenue forecast showed that Wall Street has yet to price in the game-changing potential of AI. The surge more than doubled the stock’s value for this year and increased…
By Sinéad Carew and Stephen Nellis NEW YORK/SAN FRANCISCO (Reuters) – The Philadelphia semiconductor index hit its highest level in more than a year on Thursday and eyed its biggest one-day percentage gain in six months with artificial intelligence (AI) taking center stage after Nvidia Corp wowed investors with financial targets that blew past analyst…
By David Lawder and Liz Lee DETROIT/BEIJING (Reuters) -U.S. Commerce Secretary Gina Raimondo and Chinese Commerce Minister Wang Wentao traded barbs on trade, investment and export policies in talks on Thursday described by Raimondo’s office as “candid and substantive.” Their meeting in Washington was the first U.S.-China cabinet-level exchange in months, after a string of…
(Reuters) – U.S. Commerce Secretary Gina Raimondo raised concerns about Chinese actions against U.S. firms operating in China with Chinese Minister of Commerce Wang Wentao during a meeting on Thursday in Washington, according to a U.S. readout. “The two had candid and substantive discussions on issues relating to the U.S.-China commercial relationship, including the overall…
By Hyunjoo Jin, David Shepardson and Abhirup Roy (Reuters) -Ford Motor Co said on Thursday it has agreed with Tesla Inc to allow its electric vehicle owners to gain access to more than 12,000 Tesla Superchargers in North America in early 2024. The tie-up between the rivals makes Ford the first major automaker to embrace…
By David Lawder DETROIT (Reuters) – U.S. Trade Representative Katherine Tai on Thursday called on Asia Pacific Economic Cooperation (APEC) trade ministers to “think creatively” for solutions to overcome a host of challenges from fragile supply chains, a worsening climate crisis and growing inequality. Launching a two-day meeting of the ministers under a cloud of…
