Apple’s AI deployment in China has been launched in Beijing
The new South Korean president will take charge
Shareholder Lambast Acquires $33 billion Toyota Subsidiary
The deployment of artificial intelligence services in China with Alibaba has been supported by Beijing regulators as the technology partnership will become the latest casualty of Donald Trump’s trade war. This is what you need to know.
What’s going on: The Tech Giants have been working together to launch Apple Intelligence, an iPhone manufacturer’s suite of AI services for Chinese users. Several AI products jointly developed by high-tech companies have been submitted to Chinese internet authorities this year for approval. But their applications are stagnant in China’s cyberspace management, and the two familiar with the issue said they cited an increasing number of geopolitical uncertainties between China and the US.
Issues with Apple’s Trade War: Despite Apple’s partnership with Alibaba in an attempt to win CAC approval, the well-known relationships still attract scrutiny of regulations as US-China trade tensions grow. Apple has particularly struggled with rising tensions between Washington and Beijing, with Trump putting pressure on the company to bring production back to the US. The delay in the release of Apple Intelligence in China has also been hampered by US companies as they face increasing competition with Chinese rivals led by Huawei, Xiaomi, Oppo and Vivo. Please read the entire story.
Here’s the other thing we keep tabs:
Economic Data: Taiwan and the Philippines report CPI inflation data.
Nintendo: The new Switch 2 game console will be on sale in the US, with Japanese video game companies forecasting sales of 15mn units this year.
Five more top stories
1. South Korea’s new left-wing president said his country faced a “intertwined web of overlapping crises” as he took office after winning an emphasised election. Lee Jae Myung vowed to say what he said was an outdated, over-centralized development model in Asia’s fourth largest economy. Investors responded very positively to his comments.
2. Trump said Vladimir Putin was not ready for Ukraine’s “immediate peace” after an hour of conversation yesterday. Meanwhile, the Russian president warned of retaliation for Kiev’s unmanned attack on his country’s bomber fleet. “President Putin said he had to respond to recent attacks on airfields,” the US president said in truth socially after the call.
Details of Russia: Moscow says it wants to deploy a troop of 10,000 people in the separatist Transnistria region on the Ukrainian border, and it aims to set up a Playkremlin government in Moldova for that purpose.
3. Stocks in the Toyota industry fell 12% yesterday after minority shareholders proposed privatization of $33 billion due to severely undervaluing auto parts suppliers and trampling on rights. This is why this transaction sparked investors’ outrage.
4.Temasek in Singapore has significantly cut investments in early stage companies following rising interest rates and an embarrassing explosion of state-run funds. According to people with knowledge of Group’s investment strategies, Temasek has become even more bearish for high-risk, private companies.
5. Columbia University has not met the accreditation standards because it violates the federal anti-discrimination laws, the U.S. government said yesterday. The announcement marked another escalation in Trump’s fight with elite US higher education institutions.
Big reading
A doctoral student born in Tunisia in Bologna, Insaf Dimassi is one of Italy’s more than 5 million legal expats.
Italian voters are tackling the controversial question of whether the country should relax restrictive immigration rules and give long-term legal migrant workers and their children a faster path to citizenship. In a rapidly aging society, the flow of immigration controls public discourse throughout Europe, which has deep meaning from the referendum.
We’re reading too. . .
The Psychedelic Era in the US: Magic Mushrooms remain illegal in California, but from the San Francisco gathering you won’t know what Elaine Moore writes.
Martin Wolf: Interest rates may have been normalized in recent years, but the world doesn’t look very “normal.”
Steel Tariffs – Again: The industry has been struggling with overproduction and protectionism for decades, writes Alan Beatty.
The chart of the day
As gold enjoys historic global gatherings, demand from Iran (the world’s fifth largest consumer of gold sticks and coins) is further boosted by the global market. Here’s why Iranians are seeking safety with bullion:
Take a break from the news
Researchers have developed a wireless, wearable “e-tattoo” that estimates in real time how difficult our brains are, writes Anjana Ahuja. The clear plaster pierces your forehead and tracks brain waves and eye movements. Development raises questions: Who owns our nerves?
© Andy Carter
