Microsoft is throwing the weight of its Azure cloud infrastructure behind Baidu’s open source autonomous driving project, Apollo, the companies announced Tuesday. Baidu first revealed details about the initiative, named after the historic lunar landing program, in April: It is an open platform that provides cloud infrastructure, open software stack and other services that are […]
Read moreA Communist Party mouthpiece is crowing that malfunctioning U.S. leadership is making China “great again” on the eve of highly anticipated bilateral trade talks between the two countries. The op-ed published in the People’s Daily said the U.S. was in political chaos and suffered from a broken system, which was why Washington couldn’t get anything […]
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Southeast Asia’s largest economy is defending its maritime rights within the disputed South China Sea in a perceived act against Chinese encroachment. Indonesia has long maintained an exclusive economic zone in waters claimed by Beijing, but unlike many of its neighbors, it’s never been a player in the long-simmering conflict that’s weighed on intra-Asian relations. […]
Read moreAustralia on Wednesday ordered the country’s biggest banks to raise capital for the second time in two years and signalled further action to shore up their burgeoning mortgage books, potentially squeezing shareholder returns. The banking regulator said it would release a discussion paper later this year to include risk weights on mortgages among other changes, […]
Read moreThis article is part of a “Reporter’s Notebook” series, wherein CNBC journalists submit tales and observations from the field. China’s shift from a country that copies ideas from the West to a tech and innovation powerhouse is no longer an aspiration — it’s a fact. That was the repeated conclusion last week at one of […]
Read moreChina’s Dalian Wanda Group did not fund a spate of deals made by AMC Entertainment Holdings, the U.S. cinema chain majority owned by Wanda said late on Tuesday, after reports that Beijing was cracking down on the Chinese firm’s overseas deals. AMC’s shares dived over 10 percent on Monday after sources said regulators in China […]
Read moreIn China, investors are committing a lot of capital right now to a new twist on an old form of transportation: the bicycle. Specifically, bike-sharing start-ups in China are enjoying surging growth with a simple concept: Users download an app on their smartphones, which allows them to locate and unlock a nearby bike. It’s a […]
Read moreWhen President Donald Trump pushed “Made in America” week starting on Monday, Chinese electric vehicle maker BYD might not have been top of mind. But the Warren Buffett-backed company has its sights set on expanding in the U.S. market with its Lancaster, California, production facility set for completion next month, Stella Li, president of BYD […]
Read moreMarket fundamentals look fairly strong, but political fears have held investor spirits in check, Kate Moore, chief equity strategist at BlackRock Investment Institute, told CNBC on Tuesday. “There’s been a tremendous amount of anxiety about taking equity risk so far this year,” she told CNBC’s “Squawk Box,” adding that the fear came despite “pretty good” […]
Read moreWhile last week’s talks between Trans-Pacific Partnership states failed to produce any major breakthroughs, they did demonstrate members’ commitment to inking the wide-spanning free trade agreement. Since President Donald Trump’s administration withdrew the U.S. from the deal, TPP signatories face a daunting task in finalizing a new framework by November — the agreed upon deadline. […]
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