Europe’s approach to artificial intelligence has been primarily focused on regulation, as highlighted by Prince Constantijn of the Netherlands. While regulations are necessary to ensure ethical and safe AI development, Constantijn expressed concerns that Europe’s focus on regulation may hinder its ability to innovate and compete with global leaders like the U.S. and China. The
Finance
China’s yuan, also known as the “renminbi” or “RMB,” has long been aspiring to establish a more prominent role in the international financial market. In order for the yuan to gain more global acceptance, Bonnie Chan, CEO of Hong Kong Exchanges and Clearing Limited, emphasized the necessity for expanding its “applications” beyond just being used
Cisco’s Greater China head expressed confidence in the company’s growing business with Chinese electric car companies as they expand globally. The electric vehicle (EV) segment is becoming an important sector for Cisco in the region, with most of its revenue in Greater China coming from manufacturing companies. Among these, electric cars form the largest category,
China’s significant investment of $230.8 billion over more than a decade to develop its electric car industry has raised eyebrows, according to analysis by the U.S.-based Center for Strategic and International Studies. Scott Kennedy, trustee chair in Chinese Business and Economics at CSIS, pointed out that the scale of government support represents nearly 19% of
New York has taken a pioneering step in combating climate change by introducing a program that provides homeowners with up to $14,000 in rebates for energy-efficiency upgrades. This initiative is in alignment with the federal Inflation Reduction Act, signed into law by President Joe Biden in 2022, marking it as the most significant climate legislation
The recent decision by the U.S. Federal Reserve to maintain high interest rates has had a significant impact on China’s monetary policy. Fitch Ratings, a leading ratings agency, has adjusted its expectations regarding China’s policy rate cuts. Initially predicting a rate cut for this year, Fitch now anticipates that China will maintain its one-year medium-term
The recent news about British fintech firm Zilch securing $125 million in debt financing from Deutsche Bank is a significant development for the company. This deal is aimed at accelerating Zilch’s growth and helping the company move closer to an initial public offering. However, upon closer analysis, there are several aspects of this deal that
Xreal, an Alibaba-backed startup, has recently introduced a groundbreaking product known as the Beam Pro. This new Android mobile device offers a unique experience by enabling users to view games and movies on Google Play Store apps in three dimensions through augmented reality glasses. The Beam Pro serves as a bridge between AR glasses and
Over the past year, American workers have experienced an increase in their buying power due to falling inflation and a robust job market. According to data from the U.S. Bureau of Labor Statistics, the average worker in the private sector saw their real hourly earnings grow by 0.8% from May 2023 to May 2024. This
Berkshire Hathaway, under the guidance of the late Charlie Munger, has been actively reducing its stake in BYD, China’s largest electric vehicle manufacturer. The conglomerate recently sold 1.3 million shares of BYD on the Hong Kong stock exchange, amounting to $39.8 million. This move brought down Berkshire’s ownership from 7% to 6.9%, marking a significant