Europe’s approach to artificial intelligence (AI) has been focused heavily on regulation rather than innovation, according to Prince Constantijn of the Netherlands. He expressed his concerns that Europe’s ambition seems to be limited to being good regulators, which may hinder the region from becoming a leader in AI development. While regulation is necessary to ensure
Finance
In recent years, China has been striving to increase the global use of its currency, the yuan, also known as “renminbi” or “RMB.” The dominance of the U.S. dollar in the international financial market has pushed Beijing to promote the yuan as an alternative. The CEO of Hong Kong Exchanges and Clearing Limited, Bonnie Chan,
The business relationship between Cisco and Chinese electric car companies has been a topic of interest recently. Ming Wong, Vice President and CEO of Cisco Greater China, expressed optimism about the company’s growing business with Chinese electric car companies as they expand overseas. Cisco’s presence in the electric vehicle (EV) segment in China is significant,
China has invested a staggering $230.8 billion over a period of more than a decade to cultivate its electric car industry. This massive scale of government backing accounts for 18.8% of total electric car sales between 2009 and 2023. However, it is crucial to note that this figure has decreased from more than 40% in
Energy efficiency is becoming an increasingly important topic across the United States, with new rebate programs being introduced to incentivize homeowners to make upgrades to their properties. The federal Inflation Reduction Act, signed into law by President Joe Biden in 2022, allocated $8.8 billion for consumers through two Home Energy Rebates programs. These financial incentives
Ratings agency Fitch has adjusted its expectations regarding China’s policy rate for the upcoming years. Initially, Fitch predicted a rate cut for this year, but due to the current high-interest rates maintained by the U.S. Federal Reserve, they have shifted the forecast to next year. This change in prediction reflects the impact of external factors
In a significant move for the British fintech firm Zilch, the company announced on Wednesday that it has successfully raised $125 million in debt financing from German banking giant Deutsche Bank. This deal marks a turning point for Zilch as it positions itself to triple its sales in the upcoming years and advance towards an
The U.S. Bureau of Labor Statistics recently reported that the average worker in the private sector saw their real hourly earnings increase by 0.8% from May 2023 to May 2024. This growth in “real” earnings takes into account the impact of inflation on workers’ wages, meaning that Americans are able to purchase more with their
The intersection of technology and entertainment has reached new heights with the introduction of augmented reality (AR) glasses. Xreal, an Alibaba-backed startup, has recently unveiled the Beam Pro, a revolutionary smartphone-like device that enhances the viewing experience of games and movies on Google Play Store apps in three dimensions. This groundbreaking innovation opens up a
Berkshire Hathaway, a conglomerate led by Warren Buffett, has been gradually reducing its stake in China’s largest electric vehicle maker, BYD. The recent sale of 1.3 million Hong Kong-listed shares for $39.8 million has brought down Berkshire’s holding from 7% to 6.9%. This move signals a shift in the investment strategy of the conglomerate, which