In a recent interview, Prince Constantijn of the Netherlands expressed concern about Europe’s approach to artificial intelligence, suggesting that the region is at risk of falling behind the U.S. and China. He highlighted that the European Union has been focusing heavily on regulating AI, with the recent approval of the EU AI Act, which sets
Finance
In a panel discussion at the World Economic Forum’s “Summer Davos” meeting in Dalian, China, Bonnie Chan, CEO of Hong Kong Exchanges and Clearing Limited, emphasized the need for the Chinese yuan to have more “applications” such as for stocks and bonds in order to increase its global usage. With the U.S. dollar currently dominating
Cisco, a U.S. tech giant, is looking towards a bright future with Chinese electric car companies as they expand their business globally. According to Ming Wong, vice president and CEO of Cisco Greater China, the electric vehicle (EV) segment is the second-largest source of revenue for Cisco in the Greater China region. Despite the escalating
China has invested a staggering $230.8 billion over the course of more than a decade to bolster its electric car industry. This substantial financial support has accounted for 18.8% of total electric car sales between 2009 and 2023. However, despite the significant funding, the ratio of government spending to electric vehicle (EV) sales has declined
Energy-efficiency upgrades have become a focal point for homeowners looking to reduce their carbon footprint while also cutting down on their future energy bills. With the launch of a new program in New York offering up to $14,000 in total rebates, it is clear that more states will be following suit to provide similar financial
Fitch Ratings agency has made a significant adjustment to its predictions regarding China’s policy rate changes. The agency now anticipates that China will maintain its one-year medium-term lending facility (MLF) at 2.5% for the remainder of the year, postponing any rate cut until next year. This new forecast diverges from their earlier projection of a
British fintech firm Zilch recently announced that it has secured $125 million in debt financing from Deutsche Bank. This deal marks a significant milestone for Zilch as it aims to triple its sales in the next few years and move closer towards an initial public offering. The financing structure involves securitization, enabling Zilch to package
In the past year, American workers have experienced a significant increase in their buying power due to falling inflation rates and a robust job market. Real hourly earnings in the private sector rose by 0.8% from May 2023 to May 2024, according to the U.S. Bureau of Labor Statistics. This growth in real earnings indicates
Xreal, the Alibaba-backed startup, has recently unveiled their latest product, the Beam Pro, which promises to revolutionize the way we interact with augmented reality (AR) technology. This innovative device functions as a virtual mouse, connecting to AR glasses and providing access to popular Google Play Store apps for gaming, movie streaming, and social media. The
Warren Buffett’s Berkshire Hathaway has been making headlines recently due to its continued trimming of its stake in China’s biggest electric vehicle maker, BYD. Despite being an early investor in BYD, thanks to the late Charlie Munger, Berkshire Hathaway has sold an additional 1.3 million Hong Kong-listed shares of BYD for $39.8 million. This move