Business

Big Tech AI spending spree tops $1tn

Google, Amazon, Microsoft and Meta have vastly increased their investments since the AI boom began in 2023

China's factory activity unexpectedly contracts in July, ending 4-month expansion streak

CNBC

China's factory activity unexpectedly contracts in July, ending 4-month expansion streak

The official manufacturing purchasing managers' index fell to 49.2 in July from 50.3 in June, National Bureau of Statistics data showed Friday.

CNBC

Philippine Daily Inquirer

Philippine Daily Inquirer

Minimal oil price cuts seen on August 4

MANILA, Philippines — Motorists will get slight relief as fuel retailers roll back diesel and gasoline prices next week after five weeks of hikes. Leo Bellas, Jetti Petroleum president, said diesel could dip by 50 centavos to P1 per liter…

China Factory Activity Surprises With First Slump in Five Months

China’s factory activity unexpectedly contracted for the first time in five months, adding to signs of slowing economic momentum.

India Billionaire Family Offices Offer Profit-Sharing to Attract Top Talent

A race for top investment talent is pushing India’s billionaire-owned family offices to increasingly offer profit-sharing arrangements, highlighting the fierce competition for money managers in one of the world’s fastest-growing wealth…

IDC's Ma on Apple, Consumer Electronics Market

Bryan Ma, Vice President of Devices Research at IDC, discusses Apple's latest earnings and the outlook for the broader consumer electronics market. He speaks with Shery Ahn on Bloomberg: The Asia Trade. (Source: Bloomberg)

Anthropic’s AI models hacked three organizations during tests

Japan Times

Anthropic’s AI models hacked three organizations during tests

Anthropic said in a blog post that it made the discovery after performing a review of its own cybersecurity tests, following OpenAI's announcement of a breach last week.

Japan Times

Donald Trump says Hamas has agreed to disarm over time

Donald Trump says Hamas has agreed to disarm over time

US president claims Board of Peace reached breakthrough in Gaza talks

Egypt Unlocks About $1.8 Billion IMF Payout After Passing Review

Egypt unlocked about $1.8 billion in financing after clearing the penultimate review of its expanded International Monetary Fund program.

Top India Fund Manager Favors Banks, Power as Oil Risks Loom

India’s second-largest money manager is bullish on banks, oil refiners, power utilities and drugmakers, betting they are best placed to benefit from demand tailwinds despite a volatile global backdrop.