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Artificial intelligence (AI) start-up DeepSeek has acknowledged the significant role that a technical solution from Tencent Holdings played in addressing a persistent issue in its system, highlighting the local open-source community’s contribution to China’s AI advances.DeepEP, a code library for inter-chip communications, attained a “huge speed boost” by using a technical solution from Tencent’s network platform department, according to Zhao Chenggang, an AI infrastructure engineer at DeepSeek.Tencent’s solution not only enhanced the robustness of the DeepEP project, but also “elevated communication performance”, Zhao wrote in a recent note published on a GitHub repository, where DeepSeek hosts its open-source models and…

China announced a raft of supportive measures to shore up its economy and stabilise capital markets on Wednesday, in a move seen as bolstering Beijing’s position ahead of upcoming trade talks with the United States.Top officials from China’s central bank and financial regulators said they planned to cut interest rates, reserve ratio for banks to release liquidity into the markets, and ramp up support for consumers and businesses affected by US tariffs during a joint press conference in Beijing.The barrage of policies “slightly exceeded” market expectations, analysts said, providing a timely boost to confidence as Beijing prepares to open formal…

Top 10 things to watch Wednesday, May 7 — Jeff Marks wrote today’s Top 10. 1. The stock market is heading for a higher open today, driven by Treasury Secretary Scott Bessent indicating that U.S. trade rep Jamieson Greer and he will meet with Chinese officials in Switzerland this weekend to discuss trade. Investors are also looking ahead to this afternoon’s Fed rate decision. No change is expected. However, Fed chief Jerome Powell’s post-meeting commentary will be key. 2. Disney reported a quarterly beat and guidance raise, and the Club stock jumped nearly 8%. Revenue of $23.62 billion versus the…

India’s landmark trade pact with Britain – three years in the making – could pave the way for similar agreements with the United States and European Union, analysts said, as New Delhi looks to cement its role in reconfigured global supply chains.Announced on Tuesday, the free-trade agreement aims to reduce tariffs and ease market access between the world’s fifth- and sixth-largest economies, with both sides touting its potential to create jobs, boost investment and spur innovation.Indian Prime Minister Narendra Modi described the deal as “ambitious and mutually beneficial”, while British Prime Minister Keir Starmer hailed it as a significant step…

Geely Auto, China’s second-largest carmaker, aims to full control of its subsidiary Zeekr Intelligent Technology and delist the premium electric vehicle (EV) unit from the New York Stock Exchange in a privatisation bid.Geely, which owns 65.7 per cent of Zeekr, made a non-binding offer of US$2.566 per share for the remaining 34.3 per cent of the company in cash or shares, the company said in a Hong Kong stock exchange filing on Wednesday. The move would create a unified listing platform, it added.“It will also facilitate the group’s determination of Zeekr’s future strategic direction to address global market and economic…

Geely Auto, China’s second-largest carmaker, aims to full control of its subsidiary Zeekr Intelligent Technology and delist the premium electric vehicle (EV) unit from the New York Stock Exchange in a privatisation bid.Geely, which owns 65.7 per cent of Zeekr, made a non-binding offer of US$2.566 per share for the remaining 34.3 per cent of the company in cash or shares, the company said in a Hong Kong stock exchange filing on Wednesday. The move would create a unified listing platform, it added.“It will also facilitate the group’s determination of Zeekr’s future strategic direction to address global market and economic…

BERLIN (AP) — Germany’s new government plans to station more police at the border to curb illegal migration and even turn away some of the asylum-seekers trying to enter Europe’s biggest economy, the new interior minister said Wednesday.Interior Minister Alexander Dobrindt told reporters in Berlin that police at the border would be increased in coming days. He said vulnerable people would still be allowed to enter, but his assertion that Germany would turn away some asylum-seekers goes beyond what the previous government was willing to do. “We are not going to close the borders, but we are going to control…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Uber forecast a stronger than expected outlook for the current quarter, allaying fears that US consumers were spending less on ride-hailing and food delivery despite growing economic uncertainty under President Donald Trump.The ride-hailing app said on Wednesday that gross bookings, a measure of customers’ total spending across all its business units, for the three months ending June 30 would be between $45.8bn and $47.3bn, compared with analysts’ estimates of $45.8bn, according to Visible Alpha data. Its forecast for adjusted earnings was also…

In a naval combat simulation conducted by Chinese researchers, an anti-ship missile targets a fleet of eight People’s Liberation Army warships showing on its radar.But it is not an armada – it is just a single vessel.Four electronic warfare devices circling the ship created the illusion, sending signals that could deceive even an advanced radar from a distance.It was developed by a team from the Beijing Research Institute of Telemetry, an aerospace defence contractor.They detailed the “unprecedented” technology in a peer-reviewed paper published in the Chinese-language Journal of Systems Engineering and Electronics on February 28.Their study suggested that networked 1-bit…

VATICAN CITY (AP) — Catholic cardinals from around the world gathered in the Vatican on Wednesday for the start of the conclave, the centuries-old secret voting ritual to elect a new pope to follow Pope Francis, who died April 21. The 133 cardinals are taking part in the most geographically diverse conclave in the faith’s 2,000-year history. Their cellphones are surrendered and airwaves around the Vatican are jammed to prevent all communications until they find a new leader for the 1.4 billion-member church. German cardinal Gerhard Ludwig Müller walks in St. Peter’s Square, at the Vatican, Wednesday, May 7, 2025.…