Reuters Asia Business

By Eduardo Baptista BEIJING (Reuters) -Chinese search engine giant Baidu on Thursday unveiled its much-anticipated artificial intelligence-powered chatbot known as Ernie Bot, giving the world a glimpse of what could be China’s strongest rival to U.S. research lab OpenAI’s ChatGPT. The popularity of ChatGPT, backed by Microsoft, has triggered a frenzied rush among Chinese tech …

China’s answer to ChatGPT? Baidu shares tumble as it unveils Ernie Bot Read More »

By Echo Wang and David Shepardson WASHINGTON (Reuters) -The Biden administration has demanded that TikTok’s Chinese owners divest their stakes in the popular video app or face a possible U.S. ban, the company told Reuters on Wednesday. The move is the most dramatic in a series of recent steps by U.S. officials and legislators who …

TikTok says US threatens ban if Chinese owners don’t sell stakes Read More »

(Reuters) – The European Union is planning to introduce restrictions on the import of green technologies from China, reducing the chances of Chinese companies winning public contracts and creating additional barriers for buyers seeking subsidies, the Financial times, the Financial Times reported on Wednesday. Public procurement bids using products from a country with more than …

Brussels to curb imports of Chinese green tech -FT Read More »

By Alexandra Alper and Stephen Nellis WASHINGTON/SAN FRANCISCO (Reuters) – A chip plant that South Korea’s Samsung Electronics Co Ltd is building in Taylor, Texas, will cost the world’s biggest memory chipmaker over $25 billion, up more than $8 billion from initial forecasts, according to two people familiar with the matter. The increase in cost …

Exclusive-Samsung’s new Texas chip plant cost rises above $25 billion -sources Read More »

By Mike Spector and Greg Roumeliotis (Reuters) – SVB Financial Group, the company whose former subsidiary Silicon Valley Bank was taken over by U.S. banking regulators last week, is exploring seeking bankruptcy protection as one option for selling assets that include its investment bank and venture capital business, people familiar with the matter said. SVB …

Exclusive-SVB Financial explores bankruptcy as option for asset sales -sources Read More »

By Liangping Gao and Ryan Woo BEIJING (Reuters) – China’s embattled property sector made new progress in its climb out of a months-long slump as official data for January-February on Wednesday showed much narrower declines in home sales, developer investment and construction starts. Home sales by floor area in the first two months of 2023 …

China’s property sector draws closer to exit from protracted slump Read More »