China Financial News

PARIS — France is touting itself as the next artificial intelligence superpower.

Sensex plunged 617.30 points to close at 73,885.60, while the Nifty 50 settled 216.05 points, or 0.95%, lower at 22,488.65.Nifty 50 formed a bearish candlestick pattern with upper and lower shadows on the daily timeframe.Also Read: Indian stock market: 9 key things that changed for market overnight - Gift Nifty, US GDP, jobless claims to China PMI“On the daily chart, the uptrend has weakened. Thursday’s negative closing has led to the Nifty closing below the previous swing high of 22,795.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 31On Thursday, the Indian stock market benchmark indices suffered heavy selloff amid the monthly F&O expiry and ended nearly a percent lower each, extending losses for the fifth session in a row.The Sensex plunged 617.30 points, or 0.83%, to close at 73,885.60, while the Nifty 50 settled 216.05 points, or 0.95%, lower at 22,488.65.“Nervousness ahead of the exit poll and weak global cues continue to dent sentiments. Global markets remained under pressure due to rising bond yields and denting hopes of rate cut.

European Union (EU) is planning to increase its import duty from 10% to 25-30% on all Chinese electric vehicles and batteries to protect domestic producers. The US, too, has proposed to quadruple tariffs on Chinese EVs to 100% to discourage cheap imports. The proposed EU tariffs are expected to be announced in July, raising the possibility of Chinese manufacturers redirecting their excess inventory to markets like India, the people cited above said on condition of anonymity, adding that he ministry of commerce and industry has been tasked with spearheading these efforts, working in collaboration with other relevant departments and agencies.

TikTok is working on a clone of its recommendation algorithm for its 170 million U.S. users that may result in a version that operates independently of its Chinese parent and be more palatable to American lawmakers who want to ban it, according to sources with direct knowledge of the efforts. The work on splitting the source code ordered by TikTok's Chinese parent ByteDance late last year predated a bill to force a sale of TikTok's U.S. operations that began gaining steam in Congress this year. The bill was signed into law in April.

India exists at all. By some miracle of human ingenuity and industry, a land area barely bigger than Argentina with less water than Colombia is able to support nearly a fifth of the world’s population. The record-breaking temperatures above 52 degrees Celsius (125.6 degrees Fahrenheit) in the capital New Delhi this week are a warning sign, however. The magic spell that has sustained this achievement is coming close to breaking. That’s an issue not just for those sweltering on the streets of the world’s second-biggest city, but for the path to wealth that 1.4 billion people hope to follow. India has a far poorer natural endowment of land than Europe, North America and China, the continental economies that preceded it on the road to riches. Even the fragile benefits that its citizens have managed to eke out of this unpromising soil might now be slipping further away, as climate change exposes its deep fragility and washes away the foundations of growth.

The U.S. Department of Justice (DOJ) announced on May 29 an international law enforcement operation to disrupt the 911 S5 botnet, a major cybercriminal enterprise, which resulted in the arrest of YunHe Wang, a Chinese national, for his role in deploying malware and operating a proxy service used for various cybercrimes.

Medical supply company Medline Industries is recalling some 1.5 million portable adult bed rails across the U.S. and Canada, following two reports of entrapment deaths associated with the products

The People’s Bank of China, China’s central bank, will continue to support the development of offshore Chinese yuan market and cross-border payment system.

China's Commerce Ministry has announced it will restrict exports of some aviation and aerospace-related equipment and technology beginning July 1

Chinese President Xi Jinping is calling for the establishment of an independent Palestinian state and promising more humanitarian aid for people in Gaza

A Greek-owned and Marshall Islands-flagged bulk carrier that came under attack by Yemen’s Houthi rebels earlier this week had a cargo of grain bound for Iran

China’s property slump has weighed heavily on land sales, drying up a key source of revenue for local governments. Now, authorities are looking at an unconventional way to fill up their coffers: data monetization. The protracted property downturn has hit local governments hard, with many struggling under huge piles of debt.

energy minister paused at about 9 p.m. in front of some 1,000 people and told them it was bedtime for Amin Nasser, the chief executive of giant state-owned oil producer Saudi Aramco. He was not joking.

Tata Steel slumped nearly 5% in today's trade to reach ₹165.50 apiece, a day after the company reported Q4 and FY24 numbers. On Wednesday, post market hours, the company reported a 64.59% decline for its Q4 FY24 consolidated net profit to ₹554.56 crore, led by lower steel realisations across geographies.Total revenue from operations fell to 58,687 crore from ₹63,131.08 crore in the same quarter of last year, owing to a nearly 4% drop in its mainstay India business, which contributed at least 62% of the overall revenue.

R Praggnanandhaa claimed his maiden classical game victory over world number one Magnus Carlsen to take the sole lead in the Norway Chess tournament here. The 18-year-old Indian, who has beaten Carlsen in the rapid/exhibition games quite a few times, took the leader's position with 5.5 points after three rounds. Praggnanandhaa was playing with white pieces and his victory pushed home favourite Carlsen to the fifth spot in the points table. Classical chess, also known as slow chess, allows players significant amount of time to make their moves, usually at least one hour.

Bloomberg reported.Also Read |Awfis Space Solutions IPO listing date today. GMP, experts signal strong debut of sharesIn a letter titled “What Glass Lewis Got Wrong About Tesla", the electric vehicle maker accused the adviser of omitting key considerations, using faulty logic, and relying on speculation and hypotheticals.

JPMorgan Chase, has shared his morning routine. In an interview with the Wall Street Journal, Dimon was asked how he starts his day and spoke about the newspapers he reads to catch up with US and global events."I wake up usually at 4:35 am.

FTAs)," US Ambassador to India Eric M. Garcetti said in an interview. "But I do think that there's an openness in Washington to advance a discussion about preferential trade between our countries.

import of capital goods and machinery to build factories as manufacturers in China and Southeast Asia embark on their own expansion plans. That could potentially hobble their ability to meet any rise in consumption demand. Reliance is among Indian companies facing such challenges as it looks to set up production facilities for its fast-moving consumer goods (FMCG) business and scale it up, said a senior executive, citing difficulties in establishing bottling plants for Campa Cola with machinery suppliers asking for a year and more. Reliance didn't respond to queries.

ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices soar and big oil companies reap massive profits