Elon Musk’s visit underscores China’s importance to global EV market, analysts say
Elon Musk’s visit to Beijing is spotlighting China’s place in the global electric vehicle markets.
Credit Suisse drops China bank plan to avoid regulatory conflict under UBS, sources tell Reuters
UBS, which is acquiring Credit Suisse as part of a government-orchestrated rescue, already has a locally incorporated bank in China, said the sources.
Hong Kong stocks touch bear market territory as China’s recovery momentum fades
The Hang Seng index hit a session low of 18,044.86 points. That was 20.5% below its 52-week closing high of 22,688.9 points reached on Jan. 27.
North Korea says its first spy satellite launch ends in failure, crashes into sea
North Korea’s state media agency said that an “accident” occurred during the launch of a military reconnaissance satellite.
A.I. poses human extinction risk on par with nuclear war, Sam Altman and other tech leaders warn
“Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war,” the statement on Tuesday read.
U.S. accuses Chinese fighter jet of ‘unnecessarily aggressive maneuver’ in South China Sea
A Chinese J-16 fighter jet cut in front of the nose of a U.S. Air Force RC-135 aircraft on May 26, the U.S. Indo-Pacific Command said in a statement.
Elon Musk visits China’s commerce ministry
Musk is expected to meet other senior Chinese officials and visit the U.S. electric vehicle maker’s Shanghai plant later in the week, sources have said.
Australia’s central bank warns of inflation risks, pain ahead for households
Australia’s central bank on Wednesday pledged to do whatever is necessary to bring inflation back to target, warning that risks to inflation are on the upside.
Very few U.S.-China flights are back despite the end of Covid
In contrast, flights between the Middle East and mainland China have picked up significantly.
AMD shares jumped last week on the A.I. buzz. Wall Street weighs in on the stock’s future
Advanced Micro Devices soared 18% on Friday. CNBC Pro combs through Wall Street research to find out whether analysts expect it to surge further.
