San Francisco-based AI design app Lovart officially launched Wednesday, with North American users in focus.LovartBEIJING — Chinese developers are powering some of the latest artificial intelligence tools aimed at a global market.Melvin Chen moved to San Francisco from China to co-found AI design startup Lovart, which officially launched Wednesday — after claiming “800,000 users across 70 countries” for its test version.”We will focus on North America as the first step,” Chen said in Mandarin, translated by CNBC. He previously led China operations for CapCut, a popular video-editing app from ByteDance that still ranks first in the photo and video category…
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Some travelers may need to pay more to enter parts of Europe come 2026.The price for travel authorization under the European Travel Information and Authorisation System is set to nearly triple, according to an announcement from the European Commission Friday.The system, known as ETIAS, hasn’t been implemented yet. The authorization, which was adopted in 2018, has been postponed several times, and is now set to take effect in the fourth quarter of 2026. A proposal was made to increase the fee from 7 euros ($8) to 20 euros ($23), according to the announcement. Inflation and additional operational costs were reasons for…
The Chevrolet display is seen at the New York International Auto Show on April 16, 2025.Danielle DeVries | CNBCWhile Tesla remains the No. 1 electric vehicle manufacturer in the U.S. by a wide margin, General Motors said on Tuesday it has secured the No. 2 position and believes it has an “inherent advantage” when it comes to EVs.Executives on GM’s quarterly earnings call on Tuesday said the company is focused on reaching and improving profitability for its EVs. When asked on the call about how GM aims to do that when Tesla is facing the same uphill climb, GM CFO…
A person holds a smartphone displaying the logo of SAP, a German multinational software corporation known for its enterprise resource planning solutions.Cheng Xin | Getty Images News | Getty ImagesGerman software giant SAP said Wednesday that U.S. tariff tensions were slowing down its customers’ decision-making, but that the Japan trade deal announced Tuesday was cause for cautious optimism.”In some sectors which are most affected by these [policy] decisions, like public sector U.S. and also the very big manufacturing industrial companies with complicated global supply chains, there was the one or other large transaction which has slipped over the turn of…
U.S. President Donald Trump speaks to the media as he departs the White House on July 15, 2025 in Washington, DC.Anna Moneymaker | Getty Images News | Getty ImagesU.S. President Donald Trump has now set his sights on trade negotiations with the European Union, after announcing a framework agreement with Japan.”We have Europe coming in tomorrow, and the next day, we have some other ones coming in,” Trump said late on Tuesday, without specifying details.Pressure has ramped up on EU and U.S. negotiators to come to an agreement by Aug. 1, with the Trump administration appearing intent on not changing the…
Aerial view of a villager drying Chinese fan palm leaves on July 21, 2025 in Neijiang, Sichuan province of China.Vcg | Visual China Group | Getty ImagesThis report is from this week’s CNBC’s The China Connection newsletter, which brings you insights and analysis on what’s driving the world’s second-largest economy. Each week, we’ll explore the biggest business stories in China, give a lowdown on market moves and help you set up for the week ahead. Like what you see? You can subscribe here.The big storyChina’s economy requires more than short-term stimulus, even as deflationary pressures intensify.That’s the message from economists, including those at the…
Vehicles are assembled on a line at the BMW plant in Leipzig.Picture Alliance | Picture Alliance | Getty ImagesShares of Europe’s top carmakers rose on Wednesday after the U.S. and Japan’s blockbuster trade agreement raised hopes of a tariff breakthrough for other major exporters.In a post on social media platform Truth Social, Trump described the “massive” trade agreement as “perhaps the largest Deal ever made.”The deal is expected to mean U.S. tariffs on imported Japanese vehicles and parts will fall to 15%, a significant drop from the existing 25% rate that is levied across countries.Japanese Prime Minister Shigeru Ishiba welcomed…
China has kicked off construction on the world’s largest hydropower dam, and analysts expect the colossal undertaking to be a huge boost for hydro-equipment and materials suppliers. Chinese Premier Li Qiang launched the construction of the mega-dam, located on the eastern rim of the Tibetan plateau, that is expected to produce 300 billion kilowatt-hours of electricity annually — three times the size of the Three Gorges Dam — the world’s largest source of hydroelectric power. That capacity would be equal to 21% of China’s entire hydropower generation last year and around 2% of the country’s total power generation, according to…
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A line-up of Duck World’s flock of rubber ducks.Duck World | Duck WorldIf it looks like a duck, swims like a duck and quacks like a duck — then it could be one of the rubber specimens lining the shelves of Duck World, a string of colorful stores that are staying afloat as hundreds of other London retailers close their doors. Duck World’s 700-strong rubber flock comprises every size, dress and profession, with a store employee telling CNBC that popular models include the superhero-inspired “Spidy Duck” and the tourist favorite “Telephone Booth” duck. Some are fluffy, ceramic or change color, though not all…
