The chief executive of ByteDance, owner of TikTok and its mainland sibling Douyin, berated employees for “not being sensitive enough” to the emergence of new technologies such as ChatGPT.In an internal meeting on Tuesday, CEO Liang Rubo said staff only began discussing ChatGPT in 2023,...
China’s leading chip companies, from Loongson Technology to Cambricon Technologies, expect to log huge losses for 2023 in spite of Beijing’s push for greater self-sufficiency in semiconductors, according to corporate filings.Loongson Technology, a fabless chip firm that is a firm advocate for domestic semiconductor development,...
Inland movement has gained momentum as businesses strategically relocate to regions within China that offer economic advantages and lower operational costs. This strategic shift reflects a proactive approach to counteracting challenges and maintaining competitiveness amid a dynamic global business landscape.To promote development of the inland...
ByteDance-owned TikTok has called Universal Music Group (UMG) greedy after it threatened to pull songs, including those by Taylor Swift, Billie Eilish and Drake, from the hit short-video platform due to disagreements over compensation for artists.TikTok said that UMG “has put their own greed above...
A pharmacist displays boxes of Ozempic, a semaglutide injection drug used for treating type 2 diabetes made by Novo Nordisk, at Rock Canyon Pharmacy in Provo, Utah, U.S. March 29, 2023. George Frey | ReutersNorway's giant wealth fund, the world's largest, touted the possibility that Danish...
“The liquidation is a milestone for China’s biggest corporate defaulter with US$337 billion in liabilities,” said Esther Liu, credit analyst at S&P Global Ratings. “But much of this story is yet to be told. The bulk of the issuer’s assets and liabilities are in mainland...
Countries and companies rent out storefronts on the Promenade in Davos, Switzerland during the World Economic ForumCNBCDAVOS, Switzerland — For as long as countries and companies have rented out chalets and storefronts on the Promenade of the small Swiss ski village that hosts the World...
Chinese selfie apps giant Meitu said new image-and-video-editing tools powered by artificial intelligence (AI) helped the company triple its profits last year, in stark contrast to how many other firms struggle to monetise the technology through their own generative AI...
Total gold demand hit a record last year and is expected to rise again in 2024 as the Federal Reserve moves towards cutting interest rates, potentially aiding prices, according to the World Gold Council (WGC).Overall consumption expanded about 3 per cent to 4,899 tons last...
China’s measures to boost the nation’s troubled housing market are trickling down to the provincial and city levels, with more cities relaxing curbs to buy property.Suzhou, Shanghai and Guangzhou are the latest cities to ease home-buying restrictions, joining more than 30 municipal governments...