An AI sign at the MWC Shanghai tech show on June 19, 2025.Bloomberg | Bloomberg | Getty ImagesBEIJING — The latest Chinese generative artificial intelligence model to take on OpenAI’s ChatGPT is offering coding capabilities — at a lower price.Alibaba-backed startup Moonshot released on late Friday night its Kimi K2 model: a low-cost, open source large language model — the two factors that underpinned China-based DeepSeek’s industry disruption in January. Open-source technology provides source code access for free, an approach that few U.S. tech giants have taken, other than Meta and Google to some extent.Coincidentally, OpenAI CEO Sam Altman announced…
Author: usaeverydaylife
Oslo Taxi’s NIO ET5 electric vehicle from Nio Inc, a Chinese multinational electric car manufacturer, drives through the Norwegian capital Oslo, on September 27, 2024.Jonathan Nackstrand | Afp | Getty ImagesOSLO, Norway — China is hoovering up market share in electric vehicle-friendly Norway, posing significant competition to Elon Musk’s Tesla and other Western auto giants.From the first delivery of an MG car to the wealthy Nordic country in January 2020, Chinese EV brands have gone on to capture a combined market share of roughly 10%, driven by Beijing’s competitive pricing and advanced technology.The explosive growth is particularly notable, given Norway’s…
U.S. President Donald Trump points out a newly installed flagpole while departing the White House on July 11, 2025 in Washington, D.C.Win McNamee | Getty Images No one likes working over the weekend.Unless you are the leader of the free world firing off social media posts — that is, after all, what counts as work for many politicians nowadays —announcing barriers to the free movement of goods.It’s anyone’s guess why U.S. President Donald Trump posted tariff letters to the European Union and Mexico — a steep 30% on goods imported from both — on Saturday. The first batch of letters…
Here’s a quick dive on EU-US tradeCargo shipping containers wait to be loaded by cranes on container ships at the Burchardkai container terminal at the harbour of Hamburg, northern Germany, on June 3, 2025.Fabian Bimmer | Afp | Getty ImagesFollowing President Trump’s decision to impose 30% tariffs on imports from the EU — we wanted to take a deep dive into the volumes of trade between the two.Together, the EU and U.S. make up almost 30% of all global trade in goods and services and 43% of global GDP. In 2024, trade between the two totaled some 1.7 trillion euros…
Fireworks light up the London skyline and Big Ben just after midnight on Jan. 1, 2025.Carl Court | Getty Images News | Getty ImagesLondon, the jewel in the crown of the U.K.’s economy and national culture, has taken a bit of a battering lately, with big business looking to expand elsewhere, workers looking for more affordable places to live and a flock of millionaires fleeing the city.A new tax regime targeting the “non-dom” status of the London-based super rich prompted an estimated 10,000 millionaires to flee the city in 2024 in search of safer havens for their cash. For the…
Key PointsSecond-quarter earnings are set to be reported against a background of macro-economic uncertainty governed by U.S. President Donald Trump’s trade tariffs.Energy, the cyclical consumer and the financial sector will be some of the most closely watched in European markets this reporting season.Earnings per share across Europe’s benchmark Stoxx 600 are expected to fall 0.2% on an annualized basis in the second quarter, according to LSEG I/B/E/S research.U.S. President Donald Trump’s tariff policies are dominating attention ahead of the second-quarter earnings season, especially in Europe, where five companies worth over 50 billion euros ($58 billion) are due to report this…
Nvidia CEO Jensen Huang has downplayed U.S. fears that his firm’s chips will aid the Chinese military, days ahead of another trip to the country as he attempts to walk a tightrope between Washington and Beijing. In an interview with CNN aired Sunday, Huang said “we don’t have to worry about” China’s military using U.S.-made technology because “they simply can’t rely on it.””It could be limited at any time; not to mention, there’s plenty of computing capacity in China already,” Huang said. “They don’t need Nvidia’s chips, certainly, or American tech stacks in order to build their military,” he added.The comments…
This photograph shows Bitcoin stickers displayed at the microbrewery and bar La Fracasse, in Talence, on the outskirts of Bordeaux, south-western France on June 26, 2025. Christophe Archambault | Afp | Getty ImagesBitcoin extended a rally to rise to a new record above $120,000 Monday, fueled by a rally in bitcoin ETFs.The price of the largest cryptocurrency by market capitalization briefly topped $121,249.90, according to data from Coin Metrics.The rally has seen bitcoin reach new highs amid more inflows into bitcoin ETFs. On Thursday, bitcoin ETFs had logged their biggest day of inflows in 2025 at $1.18 billion.”We believe that…
A cargo ship loads and unloads containers at the Qianwan Container Terminal of Qingdao Port in Qingdao City, Shandong Province, China, on July 10, 2025. Costfoto | Nurphoto | Getty Images China’s exports beat expectations in June as businesses continued to rush out shipments to capitalize on a temporary tariff reprieve ahead of an August deadline.Exports jumped 5.8% in June in U.S. dollar terms from a year earlier, customs data showed Monday, exceeding Reuters’ poll estimates of a 5% jump.Imports rose 1.1% from a year earlier. While missing economists’ expectations of a 1.3% rise, that marked the first time that…
The following is the prepared text from Jim Cramer’s address to members of the CNBC Investing Club at Friday’s third annual meeting from the New York Stock Exchange. It’s time to do something that so many are loath to do, and to do it here because you deserve the truth. The vast majority of my friends, both in and out of business, refuse to allow even a sentence uttered, maybe not even a word, that is positive about President Donald Trump. I get that. There are myriad reasons to dislike the man. I know from my time as a judge…
