AFP
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Asian markets mixed as China's economy meets forecasts
Markets were mixed Tuesday as positive Chinese economic data was offset by weak consumer spending, while optimism that governments will hammer out deals to avoid the worst of Donald Trump's tariff threats provided support.
China's economy grows 5.2% on trade war truce
China's economy expanded more than five percent in the second quarter of the year, official data showed on Tuesday, after analysts predicted strong exports would provide crucial support despite trade war pressures. Official data on Tuesday showed the Chinese economy grew 5.2 percent in April-June, matching a prediction by an AFP survey of analysts.
Tech giants scramble to meet AI's looming energy crisis
The artificial intelligence industry is scrambling to reduce its massive energy consumption through better cooling systems, more efficient computer chips, and smarter programming -- all while AI usage explodes worldwide. Yet even if more efficiency in chips and energy consumption is likely to make AI cheaper, it won't reduce total energy consumption.
US House set to vote on landmark crypto bills this week
US lawmakers are on the verge of passing landmark legislation that will give the much-maligned crypto world much-wanted legitimacy, riding on President Donald Trump's recent embrace of the industry.
US pro athletes reject antitrust exemptions for college sports
Professional players unions for the five major US sports leagues -- baseball, soccer, basketball, football and hockey -- appealed on Monday for American lawmakers to reject antitrust exemptions or legal liability shields in new regulations for college athletes.
Elon Musk's xAI inks Pentagon deal for contentious Grok chatbot
Elon Musk's xAI, which features a large language model that has spewed Hitler-supporting rhetoric and antisemitic tropes, said Monday it has signed a deal to provide its services to the US Department of Defense. The contract between xAI and the Department of Defense comes even as Musk and President Donald Trump are locked in a bitter feud.
Ukraine's Zelensky seeks shakeup with new prime minister
Ukrainian President Volodymyr Zelensky said Monday that he was recommending economy minister Yulia Svyrydenko become prime minister in a significant political shakeup for the war-scarred country. If the change is approved, Svyrydenko would replace Denys Shmygal, who became prime minister in 2020, before the war.
LVMH Italian fashion house Loro Piana put under court administration
Italian fashion house Loro Piana, owned by French giant LVMH, has been placed under court administration for allegedly facilitating the exploitation of workers by subcontractors, police and a company source said Monday. The judges of the Milan court found that Loro Piana "negligently facilitated" the exploitation, according to the police statement.
Japan's World Barber Classic tries to bring back business
Hundreds of rowdy spectators, many heavily tattooed, roared Monday at a Tokyo arena usually reserved for boxing -- except the contestants were not athletes, but barbers. Among them is contestant Shoma Sugimura, who made it to the final three on Monday.
AFP
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