HSBC and its biggest investor Ping An were engaged in a public battle since last November, over a proposal to the bank to hive off its profitable Asia business to deliver better returns to shareholders

One of the proposed rules is aimed at pushing carmakers to use domestic cloud services by banning smart cars in the country from transferring data directly abroad

The move came as data from the China Passenger Car Association showed the electric vehicle maker delivered 14.7% fewer China-made electric vehicles in April, compared to March

US intelligence director Avril Haines gave that estimate of global economic impact to the Senate Armed Services panel, noting that Taiwan's TSMC is the world's biggest maker of advanced chips

CEO Tim Cook believes emerging markets, with their younger populations and fewer iPhones, will bring more prospects for growth for Apple

The reading marked the first contraction in China’s industry since January when an abrupt exit from zero-Covid policies sparked a wave of infections across the country

Geoffrey Hinton said he regretted his role in driving the development of AI, saying it could flood the internet with false information, destroy the global job market and also lead to the creation of autonomous weaponry

"This export restriction is noticeable, but it's not quite as devastating as it could have been," one expert said

The move comes amid repeated warnings from Chinese officials of a severe and complicated situation for foreign trade as export orders plunge

Pony.ai started driverless testing in Guangzhou in June 2021 and has accumulated nearly 200,000 fee-charging robotaxi orders globally as of this month

The probe suggests other companies or industries could be singled out by Beijing based on unclear suspicions, AmCham China said

The development comes amid political and regulatory uncertainties in China that have pushed foreign businesses to move out of the country