News
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Baidu's Kunlunxin, valued at close to $3 billion, eyes Hong Kong IPO, sources say
Dec 5 (Reuters) - Kunlunxin, the AI chip unit of Chinese internet search giant Baidu 9888.HK, is planning an initial public offering in Hong Kong, having recently completed a fundraising that valued it at 21 billion yuan ($2.97 billion), three people familiar with the matter told Reuters.The move coReuters
Fri, Dec 5
China stocks snap three-day slide on chip optimism, but set for weekly loss
HONG KONG, Dec 5 (Reuters) - China stocks edged higher on Friday, snapping a three-day losing streak, on renewed optimism surrounding domestic chipmakers, although major indexes remained on course for a weekly decline.By the midday break, the Shanghai Composite Index .SSEC was up about 0.1% at 3,878Reuters
Fri, Dec 5
Japanese Yen holds steady as BoJ rate hike bets offset weak data; USD/JPY seems vulnerable
The Japanese Yen (JPY) holds steady during the Asian session on Friday and reacts little to the unimpressive data, which showed that Japan's Household Spending unexpectedly fell at the fastest pace in nearly two years in October.
Fxstreet
Fri, Dec 5
US minerals projects seek 'industrial vision' from Washington to compete with China
Washington must move even faster to bolster critical minerals projects and offset Beijing's grip on the world's supply of the building blocks for electronics, weapons and a range of other goods, three U.S. mining and refining executives said on Thursday.Reuters
Fri, Dec 5
USD/JPY drifts lower to near 155.05 on Fed rate cut expectations, US PCE inflation data in focus
The USD/JPY pair remains weak near 155.05 during the early Asian session on Friday. Rising bets for a rate cut by the US Federal Reserve (Fed) next week and weaker US economic data weigh on the US Dollar (USD) against the Japanese Yen (JPY).Fxstreet
Fri, Dec 5
US senators unveil bill to prevent easing of curbs on Nvidia chip sales to China
A bipartisan group of U.S. senators, including prominent Republican China hawk Tom Cotton, on Thursday unveiled a bill that would block the Trump administration from loosening rules that restrict Beijing's access to artificial intelligence chips from Nvidia NVDA.O and AMDReuters
Fri, Dec 5
Oil settles up on expectations of Fed rate cut, Ukraine peace talks stalling
Investors weigh potential for Fed rate cut Peace talks on Russia-Ukraine stallU.S. crude stocks rise vs expected drawBy Georgina McCartney HOUSTON, Dec 4 (Reuters) - Oil prices settled up on Thursday on investors' expectations for the Federal Reserve to cut interest rates, while stalled U...Reuters
Thu, Dec 4
EU hits Meta with antitrust probe over plans to block AI rivals from WhatsApp
EU Commission confirms probe into AI use on WhatsAppMarks latest broadside from EU regulators against Big TechItaly opened a parallel probe earlier this yearBy Foo Yun Chee, Mrinmay Dey and Rishabh Jaiswal BRUSSELS, Dec 4 (Reuters) - EU regulators launched an antitrust investigation into Meta Pla...Reuters
Thu, Dec 4
Eli Lilly $1 trln value is bet on Coke-like future
DUBLIN, Dec 4 (Reuters Breakingviews) - Eli Lilly LLY.N is looking more like a tech giant than a drugmaker. Last month, the creator of Mounjaro and Zepbound’s market value soared past $1 trillion. The U.S. group’s obesity treatments and pipeline of drugs only partly explain the he...
Reuters
Thu, Dec 4
UK's FTSE 100 edges higher as investors assess corporate updates; Burberry rises
Dec 4 (Reuters) - UK's FTSE 100 ticked up on Thursday, with investors assessing corporate updates and economic data suggesting potential weakness, while Burberry gained after an HSBC price target raise on the luxury goods maker.Reuters
Thu, Dec 4
EU considering interim measures against Meta, EU antitrust chief says
BRUSSELS, Dec 4 (Reuters) - EU regulators are considering whether to impose interim measures against Meta META.O over its rollout of artificial intelligence features in its messaging service WhatsApp, EU antitrust chief Teresa Ribera said on Thursday.Ribera, who had earlier opened an investigation i
Reuters
Thu, Dec 4
Gold edges lower on stronger equities as investors look ahead to next Fed meeting
Dec 4 (Reuters) - Gold ticked lower on Thursday as gains in equities markets in Asia and Europe weighed on safe-haven demand, while investors turned their attention to next week's U.S. Federal Reserve meeting and upcoming U.S. data that could shape the outlook for interest rates.Reuters
Thu, Dec 4
Trump could decide next year to withdraw from USMCA trade deal, USTR Greer tells Politico
Dec 4 (Reuters) - U.S. President Donald Trump could decide next year to withdraw from the United States-Mexico-Canada trade agreement (USMCA), Politico reported on Thursday, citing U.S. Trade Representative Jamieson Greer. “The president’s view is he only wants deals that are a good deal. The reasonReuters
Thu, Dec 4
