Honda Suffers 18.5% Sales Drop in Key Market, Cuts 900 Factory Jobs in China Honda is facing the consequences of a major shift in China’s automotive industry, where the country is rapidly moving towards an electric vehicle (EV) future. According to a report by Nikkei Asia, the Japanese giant has been forced to make tough […]
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Huawei Technologies has confirmed its plans to carve out its Intelligent Automotive Solution (IAS) business unit as a strategic maneuver to bolster innovation and navigate financial challenges. The new venture to establish a smart car software and components firm is set to attain a substantial valuation of up to 250 billion yuan ($34.67 billion), with […]
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The World Health Organization (WHO) is seeking detailed information from Beijing regarding a mysterious pneumonia outbreak in northern China, which is particularly impacting children. This request has been made amidst a growing concern over the rise in respiratory illnesses and reported pneumonia clusters among children, according to Al Jazeera. The National Health Commission of China […]
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European Academics Under Fire for Collaborating in Chinese AI Research Projects A recent analysis conducted by the Mercator Institute for China Studies reveals that European academics are actively participating in AI research collaborations with Chinese counterparts that are raising ethical concerns. The analysis highlighted collaborations in areas such as biometric surveillance, cybersecurity, and military applications […]
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Alibaba Group Abandons Cloud Business Spin-Off Plans Due to US Chip Export Restrictions Alibaba Group, a Chinese e-commerce giant, has decided to abandon its plans to spin off its Cloud Intelligence Group due to US restrictions on the export of advanced computing chips. The company cited uncertainties created by the recent expansion of export curbs […]
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The US House of Representatives’ bipartisan select committee on China has recently released a 741-page annual report that detailed the aggressive acquisitions by Chinese companies of US chipmaking equipment to produce advanced semiconductors. These actions are in violation of new US export restrictions intended to slow China’s semiconductor industry. The Joe Biden administration had imposed […]
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Tokyo Electron Ltd. has revised its revenue and earnings forecasts for the entire year in response to increased demand for its chipmaking equipment, largely driven by the Chinese market. The company reported quarterly revenue of $2.8 billion, with sales in China surpassing analyst estimates and accounting for nearly half of the total. The tech firm […]
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The largest lender globally in terms of assets, the Industrial and Commercial Bank of China (ICBC), was hit by a ransomware attack that disrupted the trading of Treasury securities through its US financial services division. The cyberattack, which resulted in system disruptions, was disclosed by ICBC on Thursday. Promptly implementing system isolation as a preventive […]
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Nio, a prominent Chinese automaker known for its high-end electric SUVs, has recently announced a round of layoffs in response to increased competition and the need to cut expenses and reallocate resources. According to an internal letter from CEO William Li, the company plans to reduce its workforce by approximately 10% as part of its […]
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Elon Musk, CEO of Tesla and co-founder of OpenAI, sat down for a conversation with UK Prime Minister Rishi Sunak to discuss various topics related to technology and artificial intelligence (AI). The conversation took place at the UK’s inaugural AI Safety Summit and was published on X, Musk’s personal platform. According to Musk, AI has […]
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