China has reportedly closed almost 25% of its banks amid increased oversight of smaller lenders. The world’s second largest economy shuttered a record 670-plus banks in 2025, the Financial Times (FT) reported Saturday (Oct. 3), citing figures from China’s National Financial Regulatory Administration. The closures,...
Saudi Arabia has reportedly withdrawn from China’s mBridge digital currency/cross-border payments program. That’s according to a report Sunday (Sept. 20) by the Financial Times (FT), which says the program has drawn controversy in the U.S. due to concerns that participating countries could use it to...
Robust adoption of China’s artificial intelligence models has yet to yield corresponding revenues, according to a report published Thursday (Sept. 17) by research firm Rhodium Group. All of China’s AI models put together generate roughly a tenth of the revenue reported by the two leading...
The United States is preparing to tell countries that they will be excluded from a U.S.-led artificial intelligence coalition if they join a Chinese-led one, Reuters reported Friday (Aug. 14), citing an unnamed U.S. official and a draft of a letter to members of the...
April 11, 2025
When Walmart, the largest retailer in the U.S., abruptly withdrew its first-quarter operating income guidance last week, the message was unmistakable: the tariff storm is shaking the foundations of retail planning. The announcement, citing the need to maintain pricing flexibility amid newly implemented tariffs, is emblematic of the intense pressure facing multinational retailers in a […]
April 10, 2025
Hate to say you read it here first, but here’s a prescient quote left on the cutting room floor from PYMNTS CEO Karen Webster’s interview with QED Investors partner Amias...
January 28, 2025
Chinese AI startup DeepSeek’s deeply discounted foundation models could herald lower prices for businesses seeking to adopt AI — by removing one of the biggest blockers to enterprise deployment. “Cost...
January 27, 2025
Shares of Nvidia, the darling stock of the generative AI boom, are down 15.3% in midday trading on Monday (Jan. 27) as Wall Street grapples with the revelation that it...
October 08, 2026
The parent company of artificial intelligence agent startup Manus, Butterfly Effect, has raised $500 million in a funding round, months after the Chinese government blocked Meta’s acquisition of the company, according to multiple media reports. Butterfly Effect announced the round in a post on Chinese social media platform Weixin. According to a Google translation of […]
October 04, 2026
China has reportedly closed almost 25% of its banks amid increased oversight of smaller lenders. The world’s second largest economy shuttered a record 670-plus banks in 2025, the Financial Times...
September 20, 2026
Saudi Arabia has reportedly withdrawn from China’s mBridge digital currency/cross-border payments program. That’s according to a report Sunday (Sept. 20) by the Financial Times (FT), which says the program has...
September 17, 2026
Robust adoption of China’s artificial intelligence models has yet to yield corresponding revenues, according to a report published Thursday (Sept. 17) by research firm Rhodium Group. All of China’s AI...
