Shares of China's BYD surged at Tuesday's open in Hong Kong after the company announced a new technology that allows electric cars to be charged at a far faster rate. The stock was last seen trading more than 6% higher at 9:35 a.m. local time. This is breaking news. Please refresh for updates.
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Billionaire Ray Dalio says we're living in a time of rapid change, as geopolitical tensions rise, economic systems shift and technology develops faster than ever before. As people grapple with what he called the "changing world order," Dalio says it's important to focus on what really matters. "I think the question is, above all else ... how we're going to be with each other," said the Bridgewater Associates' founder. "Because, breakthrough technologies — they can be used for wars, they're going to create great displacement of people."
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Shares of the largest Japanese trading houses rallied on Tuesday after Warren Buffet's Berkshire Hathaway raised its stakes in them overnight. The 94-year-old investor's holding company raised its holdings in five Japanese trading houses — Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo — by more than 1 percentage point each, to stakes ranging from 8.5% to 9.8%, according to a regulatory filing. Shares in all five companies rose at least 4% shortly after the open. Itochu and Marubeni were the top movers, advancing 4.12% and 4.55% respectively, as at 10.05 a.m. local time.
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Human resources software startup Rippling sued competitor Deel in federal district court on Monday, claiming that "Deel cultivated a spy" to orchestrate a trade-secret theft. The employee met with Deel executives and passed internal Rippling records to a reporter, according to San Francisco-based Rippling's complaint in the U.S. District Court for California's Northern District. Rippling claimed in the filing Deel violated the 1970 Racketeer Influenced and Corrupt Organizations Act and misappropriated trade secrets.
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"Competition is the best possible thing" for vibrant markets, Y Combinator CEO Garry Tan says. "Markets will serve consumers 10 or 100 times better than monopolies." cnb.cx/43RJiKJ
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AI agents "are right around the corner," Y Combinator CEO Garry Tan says. Here's what that means for inference demand. cnb.cx/43RJiKJ
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President Donald Trump announced Monday he has chosen Federal Reserve Governor Michelle Bowman to take over the central bank’s top supervisory role. Full details: cnb.cx/4bCkLeL
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President Donald Trump's World Liberty Financial crypto project said on Monday that it raised $250 million in its second token sale, bringing the total amount of coins sold to $550 million. WLFI, a venture backed by the first family that describes itself as a sort of crypto banking platform, launched in October, weeks before Trump's election victory. In a document published at the time of launch, WLFI said the Trump family could take home 75% of net revenue. In Monday's release, WLFI said more than 85,000 participants underwent so-called know-your-customer verification to gain access to the token sale. Co-founder Zach Witkoff, son of billionaire U.S. envoy Steve Witkoff, is quoted in the release as saying that "WLFI is on track to supercharge DeFi," or decentralized finance.
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Y Combinator CEO Garry Tan explains “vibe coding,” a term for letting models take the wheel and generate software. In some cases, AI can code entire apps. Read more: cnb.cx/43RJiKJ