APEC coordinates 21 economies to promote trade and sustainable growth in the Asia-Pacific.
The Guardian, The Japan Times, AP News, and others report Beijing’s export controls on dual-use items target Japanese firms as Tokyo expands its defense posture. Detentions of Japanese nationals in China over alleged rare-earths-related export violations are intensifying the diplomatic row. The moves come after Japanese comments on Taiwan and potential military action raised Beijing’s alarm.
APEC discussions have highlighted a widening gap between the US and China on trade, even as Beijing’s commitments to Boeing orders and US agricultural purchases signal ongoing economic ties. APEC ministers are urging faster implementation of agreed outcomes, with potential shifts as Xi and Trump are expected to meet later this year.
SK Hynix has raised $26.5bn by selling 177.9m American depositary receipts at $149 each, in the largest-ever US share sale by a foreign company. Its ADRs have begun trading on Nasdaq under temporary ticker SKHYV and will convert to SKHY; the company is using proceeds to expand fabs, packaging and EUV capacity as AI-driven memory demand surges.
This year’s class of “Great Immigrants, Great Americans” includes Citi CEO Jane Fraser, Pulitzer Prize-winning authors Hernan Diaz and Cristina Rivera Garza, and fashion designer Gabriela Hearst. The newly renamed Andrew Carnegie…
OnePlus has announced it will stop launching new phones in Europe and North America and will focus new device rollouts on India and China. The parent company Oppo has begun a corporate restructuring as memory-chip shortages and rising component costs have cut demand for budget phones and pushed manufacturers to prioritise AI-oriented high-bandwidth memory.
The US is weighing a response to Chinese open-weight AI models amid concerns of distillation and IP theft as Moonshot AI’s Kimi K3 shows strong benchmarks. Officials have signaled possible actions while Silicon Valley presses for open access to models to sustain competition.
US officials have alleged that Chinese startup Moonshot distilled capabilities from Anthropic's Fable to build its open-weight Kimi K3 model, and have raised possible sanctions and trade penalties. Moonshot unveiled Kimi K3 last week; US officials and industry figures are now debating whether to restrict open Chinese models while preserving open innovation for researchers and startups.