(Bloomberg) — Chinese investors hunting for the next artificial intelligence winners are looking beyond high-flying chipmakers to the utilities and metal producers that form the industry’s physical backbone. The shift toward the sector’s supply chain — from power generators to materials used in data centers — reflects growing concern over lofty valuations in pure-play AI…
Russia’s military operations in Ukraine are being funded through Russian oil sales to countries including India, China, and Brazil, according to the latest claim by US Ambassador to NATO Matthew Whitaker. Whitaker, during an interview with Fox News this week, called for additional sanctions and tariffs on these countries to increase economic pressure on Moscow….
(Bloomberg) — Asian equities came under pressure after a tech selloff hit Wall Street Friday, with chip shares among the losers. Hong Kong was an outlier as Alibaba Group Holding Ltd. surged. The MSCI Asia Pacific Index slipped 0.2% with chipmakers pushing the Nikkei-225 index down by 1.8%. Samsung Electronics Co. and SK Hynix Inc….
China hiked its imports of crude oil from Iran in June, as Iran accelerated loadings in May and independent Chinese refiners bought more discounted Iranian barrels. Amid overall high imports in recent weeks, thanks to the lower oil prices in April and May when cargoes were bought, China significantly boosted its imports of crude from…
(Bloomberg) — Contemporary Amperex Technology Co. Ltd. is planning to seek at least $4 billion from its Hong Kong stock offering, people familiar with the matter said, which would make it the world’s biggest listing this year. The eventual proceeds could rise to $5.3 billion if the deal is upsized and the greenshoe exercised, according…