The China Mail - Economy

OpenAI number two Simo steps down to focus on health

Top Silicon Valley executive Fidji Simo announced Wednesday she is leaving her full-time role at OpenAI to go part-time as an advisor and focus on recovery from a chronic illness.

Chip titan SK hynix to raise $26.5 bn in blockbuster US listing

South Korean chip giant SK hynix on Friday priced its mega US listing at $149 per share, raising around $26.5 billion in what will be the world's second largest stock sale after SpaceX.

Black and cream and very Roman at Fendi haute couture show

Fendi presented its first haute couture show under designer Maria Grazia Chiuri Thursday, showing off a luxurious collection of black and cream looks -- and an homage to longtime couturier Karl Lagerfeld.

US existing home sales dip in June as cost worries persist

Sales of previously owned homes in the United States dropped in June, according to industry data released Thursday, as affordability worries continued to weigh on property buyers.

Russia subjecting 1.6 million Ukrainian children to military brainwashing: OSCE report

Around 1.6 million young Ukrainians are being forced by Russia into a system of military indoctrination that could amount to a crime against humanity, according to OSCE-mandated independent experts.

Fendi shows haute couture in Rome with nod to Lagerfeld

Fendi celebrates the first haute couture show by newly seated designer Maria Grazia Chiuri in its home city of Rome on Thursday, along with a homage to longtime couturier Karl Lagerfeld.

Union warns of 'conflict' as Volkswagen eyes mass job cuts

Volkswagen workers staged protests nationwide Thursday as unions warned of "major conflict" if the struggling German car giant pushes ahead with what could be the global auto industry's biggest restructuring.

Cocoa lynchpin sees chocolate lovers make hesitant return

Barry Callebaut, one of the world's biggest chocolate makers, signalled Thursday that chocoholics are starting to replenish their stocks after being stung by inflation.

French yachtswoman set to break new barriers in Route du Rhum

French skipper Alexia Barrier is set to make history when she competes in the transatlantic single-handed Route du Rhum yacht race in November.

German exports rise despite Iran war headwinds

German exports unexpectedly rose in May, their fourth straight monthly increase, official data showed Thursday, as Europe's biggest economy defied headwinds from the Iran war.

US, Iran trade new strikes ahead of Khamenei burial

The United States and Iran traded new strikes on Thursday that killed several people in the Islamic republic as Iranian authorities prepared for the burial of longtime supreme leader Ali Khamenei.

Unions to protest as Volkswagen thrashes out job cut plans

German auto giant Volkswagen's management meet Thursday to thrash out plans for what could be the biggest ever restructuring in the global auto industry, with unions set to protest any mass job cuts.

EU moves closer to kicking kids off social media

Restrictions on children's use of social media in the European Union could come as early as this summer, as a long-awaited expert report next week is expected to recommend limiting minors' access to online platforms.

Taylor Swift fans pay $25 for garbage from outside wedding

Taylor Swift fans have paid $25 for pieces of trash -- including cigarette butts and an ovulation test kit -- collected near the US pop queen's wedding to NFL star Travis Kelce.

After quakes, Venezuelans fear losing damaged homes

Morela Luna anxiously awaits the arrival of a team of experts to inspect her partially collapsed home, where her neighbors had to rescue her after Venezuela's double earthquake on June 24 that has claimed more than 3,600 lives.

Nocera Expands Diversified Technology Strategy With Binding Agreement to Acquire an Equity Interest in INERGX, an Integrated Energy Storage and Power Platform for AI, Defense and Mission-Critical Demand

Investment Positions Nocera at the Intersection of the Global AI and Energy Infrastructure Build-Out, a Market Projected to Approach $7 Trillion by 2030

UN maritime head urges halt to Hormuz transit to protect seafarers

The head of the International Maritime Organization said Wednesday the 6,000 seafarers still stranded in the Gulf must not be put in unnecessary danger by crossing the Strait of Hormuz amid fresh US-Iran attacks.

Air Canada taps new CEO to replace chief who couldn't speak French

Air Canada named a new CEO on Wednesday to replace Michael Rousseau, who announced his retirement following controversy over his failure to issue condolences both in English and French after a fatal airport disaster.

MEXC Adds Nine Ondo Tokenized Stock and ETF Trading Pairs Tied to AI Infrastructure Demand

MEXC, a pioneer in 0-fee digital asset trading, will add nine Ondo tokenized stock and ETF trading pairs to its spot market, the latest expansion of ongoing collaboration with Ondo Finance. The new pairs cover companies across the data center, semiconductor and power supply chains linked to growing AI infrastructure demand, expanding the range of tokenized U.S. equities available to users and providing on-chain exposure to a sector at the center of the current AI infrastructure buildout.

Apple loses challenge against EU digital competition rules

Apple lost its bid to escape digital competition rules after an EU court on Wednesday rejected the US giant's challenge.

Trump says Iran ceasefire 'over' after fighting flares

US President Donald Trump said the ceasefire with Iran was "over" on Wednesday, after fighting flared between the countries sparked by Iranian attacks on ships in the vital Strait of Hormuz.

OpenAI to launch new model after US freeze

ChatGPT maker OpenAI said its latest powerful artificial intelligence model series will be released to the public on Thursday, as the US government reportedly approved a broader launch.

US, Iran trade strikes in new threat to ceasefire

The United States launched extensive strikes on Iran over attacks on ships in the vital Strait of Hormuz, triggering a wave of reprisals Wednesday that Iran's Guards said targeted US bases in the Gulf.

Chinese repairwomen smash stereotypes with power tools

The sound of pliers clicking filled a workshop in eastern China's Hangzhou as a group of women practised stripping wires, their female instructor moving around the classroom to offer advice.

'Unique event': Solar eclipse fever fills empty Spain

As a child, Enrique Bordallo would gaze in awe at the starry night sky in rural Spain. Next month's solar eclipse has now made his passion a popular obsession.

US strikes Iran after Hormuz attacks, Tehran threatens response

US forces launched strikes on Iran on Tuesday after three commercial vessels were attacked in the Strait of Hormuz, the US military said, sharply escalating a confrontation that has already shaken efforts to end the Middle East war.

US strikes Iran after Hormuz tanker attacks: military

US forces launched strikes on Iran on Tuesday after three commercial vessels were attacked in the Strait of Hormuz, the US military said, sharply escalating a confrontation that has already shaken efforts to end the Middle East war.

Netflix strikes deals in short-form video push

Netflix is pushing deeper into the short-form video territory dominated by TikTok and YouTube, striking licensing deals with a slate of major US media publishers to carry bite-sized content on its platform.

Global AI industry falls short on safety, think tank warns

US artificial intelligence lab Anthropic scored the highest in a semiannual safety ranking, but globally the industry fails to combat "existential" threats, according to a report released on Tuesday.

Canada province preparing lawsuit against OpenAI over school shooting

British Columbia said Tuesday it was preparing a lawsuit against OpenAI over the company's failure to report violent ChatGPT activity by the person who committed a mass school shooting in the western Canadian province.

Tanker attacks send oil higher, stocks hit by AI jitters

Oil prices jumped after three tankers were attacked near the Strait of Hormuz, while jitters about the outlook for the AI sector hit equities.

Cuba slowly gets power back after third nationwide blackout in six months

Cubans were gradually getting power back on Tuesday after the third nationwide power outage since the start of the year, causing mounting despair in the face of an energy collapse precipitated by a US fuel blockade.

The China Mail - Economy (English)

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US inflation slows slightly in July despite elevated fuel prices

US consumer inflation slows slightly in July despite elevated fuel prices

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