Posts by Finance Hub

Beijing warns of retaliation if Europe imposes curbs on Chinese businesses China has cautioned the European Union against implementing potential restrictions on Chinese enterprises and merchandise ahead of upcoming high-level trade discussions in Beijing. The commerce ministry in Beijing indicated that any punitive actions taken during ongoing negotiations would erode mutual trust and derail… see more

Bitget `not expecting to recover a lot' from $388 million hack, CEO tells CNBC Cryptocurrency exchange Bitget has successfully frozen approximately $1.1 million of the nearly $388 million stolen in a recent cyberattack, though Chief Executive Officer Gracy Chen indicated that expectations for recovering a significant portion of the lost funds remain low. The breach occurred after attackers… see more

China has three new criteria for humanoid robot IPOs. Few, if any, meet them China's securities regulator has established three strict criteria for humanoid robot startups attempting to launch initial public offerings, a move that threatens to halt public market debuts for the vast majority of firms in the sector. Despite dozens of companies filing to list in Hong Kong and surging private… see more

Around $60 billion was wiped off the share market after the ASX 200 recorded its worst trading day since March 9, in the early days of the Iran War. AMP economists are predicting house prices in Australia's capital cities will fall by 10-15 per cent, making it worse than previous property downturns. Meanwhile, the Reserve Bank (RBA) says the rapid fall in property values is not a major risk to… see more

Warren Buffett steps down as chairman of Berkshire Hathaway: 'Father Time always wins' Warren Buffett is relinquishing his role as chairman of Berkshire Hathaway, concluding a legendary tenure leading the trillion-dollar conglomerate since 1965. Effective immediately, the 96-year-old investor transitions to chairman emeritus while keeping a seat on the board of directors. Following a… see more

Crypto platform Bitget suspects North Korea is responsible for $352 million hack Crypto exchange Bitget reported that approximately $351.6 million in digital assets was compromised during a security breach, with preliminary findings suggesting potential involvement by North Korean hackers. According to the company, attackers breached a backend wallet system to trigger unauthorized transfers… see more

OpenAI and Anthropic are making 10 times more revenue than all Chinese AI models combined, research group Rhodium says According to recent research from the Rhodium Group, combined revenues generated by Chinese artificial intelligence models total only about one-tenth of the earnings reported by OpenAI and Anthropic. Despite experiencing rapid user adoption and massive market interest, Chinese AI… see more

Treasury Takes Aim at Tax-Avoiding Investment Strategies The Department of the Treasury has initiated regulatory actions to restrict specific exchange traded fund structures referred to as section 351 conversion transactions, while simultaneously issuing warnings regarding alternative variations of these maneuvers. This intervention targets financial strategies utilized to circumvent tax… see more

U.S., China to lower tariffs on $60 billion of goods. Here's what qualifies The United States and China have announced plans to reduce import duties on approximately $60 billion worth of combined goods following recent leadership discussions in Washington, D.C. The proposed reductions involve $30 billion from each nation, encompassing items such as toys and sports equipment on the American side… see more

'AI boom' insulates global growth from shocks. Global stocks remain near record levels, despite the war in the Middle East, rising oil prices and renewed risks to shipping through the Strait of Hormuz, which continue to elevate geopolitical stress. Recent market analysis highlights how gains in large technology and AI‑linked stocks have done the heavy lifting in supporting major equity indices.… see more