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Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldPresident Donald Trump’s “big, beautiful” tax bill risks sharply increasing the US public debt, sparking alarm among investors and fuelling questions over how long the world will finance Washington’s largesse.US long-term borrowing costs rose at the start of this week, after a congressional committee on Sunday advanced a budget bill that is estimated to add trillions of dollars to the federal deficit over the next decade by extending tax cuts. The bill progressed after Moody’s on Friday stripped the US…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldJapan’s Nippon Steel has quadrupled its investment pledge in US Steel over the next few years in a major push to win over President Donald Trump and gain approval for the politically fraught takeover.Nippon, whose bid for the American company was blocked by his predecessor Joe Biden and opposed by Trump on the campaign trail, has bumped up its capital commitment to $11bn by 2028, according to two people familiar with the matter.The Japanese company has also promised to add…

One of China’s earliest students of artificial intelligence, now a distinguished and long-serving professor in the field, has returned to work in China after decades as an academic in Australia.Professor Zhang Chengqi, a distinguished professor of AI and former deputy vice-chancellor of the University of Technology Sydney, has taken up the position of chair professor of artificial intelligence at Hong Kong Polytechnic University (PolyU) and director of its Shenzhen Research Institute, according to the university’s website.Zhang, whose research interests focus on distributed AI and data mining, has published more than 350 academic papers, including several in top international journals and…

BERLIN (AP) — A man suspected of attacking and injuring five people outside a bar in Germany has been arrested, and investigators believe the attack may have been “religiously motivated,” authorities said Tuesday.The suspect, a 35-year-old Syrian national identified only as Mahmoud M. in line with privacy rules, was arrested late Monday in Heiligenhaus, near Düsseldorf. Police said tips from witnesses led investigators to the suspect, who was slightly injured while trying to resist arrest.Early Sunday, a man wielding sharp object attacked five men between 22 and 27 outside a bar in the western city of Bielefeld. Four were seriously…

China attracted a significant net capital inflow into its bond and equities markets in April despite US President Donald Trump’s tariff war and can expect more foreign investment in Chinese assets, analysts said.This stands in contrast to market concerns over soaring Treasury yields and the wave of panic selling that followed Moody’s downgrade of the US sovereign credit rating last Friday.The contrasting signals from Washington and Beijing highlight changing global investment dynamics, as more investors continue to move away from US dollar assets since Trump launched his global trade war in early April, according to analysts.“Weaker US dollar, US bond…

Hong Kong stocks rose on Tuesday after China cut key interest rates for the first time in seven months.The Hang Seng Index gained 0.9 per cent to 23,550.74 at 9.55am local time. The Hang Seng Tech Index also added 0.9 per cent. On the mainland, the CSI 300 Index climbed 0.2 per cent and the Shanghai Composite Index added 0.1 per cent.CSPC Pharmaceutical Group advanced 5.2 per cent to HK$6.27 and Sino Pharmaceutical gained 3.7 per cent to HK$4.21. Xiaomi climbed 3.2 per cent to HK$54 and Alibaba Group Holding rose 2.2 per cent to HK$121.80.The People’s Bank of China…

Chinese defence firms showcased AI’s potential to improve combat decisions at an annual military expo in the capital last week, giving a glimpse of what could be available to the armed forces.Vendors at the China (Beijing) Military Intelligent Technology Expo also showed how artificial intelligence could be applied to daily training, intelligence gathering, and even physical training for soldiers.Among them was Beijing-based start-up EverReach AI, which presented an AI-assisted military training model with a flight map of an area near the Taiwan Strait as a “product case”. It appeared to show how the technology could be used to refine drills…

Trading under the stock code 3750, CATL shares first changed hands on Tuesday at HK$296 in Hong Kong, a premium of 12.5 per cent compared with their offer price of HK$263, in a stock offering that raised HK$35.7 billion (US$4.6 billion). In Shenzhen, CATL’s shares fell 0.6 per cent to 258.58 yuan (HK$280.57).The gain suggests strong but unfulfilled demand for the shares of the world’s largest maker of batteries for electric vehicles, which aims to increase its 38 per cent control of the global EV battery market. Retail investors in Hong Kong borrowed more than HK$282 billion in margin financing…

Trading under the stock code 3750, CATL shares first changed hands on Tuesday at HK$296, a premium of 12.5 per cent to their offer price of HK$263, in a stock offering that raised HK$35.7 billion (US$4.6 billion). In Shenzhen, CATL’s shares fell 0.6 per cent to 258.58 yuan (HK$280.57).The gain suggests strong but unfulfilled demand for the shares of the world’s largest maker of batteries for electric vehicles, which aims to increase its 38 per cent control of the global EV battery market. Retail investors in Hong Kong borrowed more than HK$282 billion in margin financing from brokerages to bid…

A prominent advocacy group is urging Tokyo to confront Cambodia over its political repression during Prime Minister Hun Manet’s visit this month – though observers predict Japan is unlikely to risk diplomatic friction with Phnom Penh at a time of rising regional competition with China.In a letter addressed to Japanese Prime Minister Shigeru Ishiba, Human Rights Watch (HRW) called for Tokyo to raise concerns about Cambodia’s sweeping crackdown on civil liberties, citing restrictions on labour rights, press freedom and the harassment of dissidents abroad – including some currently living in Japan.“It is, unfortunately, unusual for a Japanese government to raise…