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Treasury Secretary Scott Bessent is pointing the finger at Commerce Secretary Howard Lutnick over the Trump administration's failure to place Nvidia customer Megaspeed on a U.S. trade blacklist for national security concerns. When pressed Friday over who was behind the decision, Bessent told CNBC, "Treasury, War, USTR [U.S. Trade Representative] and State … were in...

US President Donald Trump will press Southeast Asian economies to join Pax Silica, his campaign to China-proof AI and chip supply chains, when he attends the Asean summit in Manila next week. According to people familiar with the matter, artificial intelligence and critical minerals will top his agenda at the Association of Southeast Asian Nations gathering, his first trip abroad since his party’s bruising midterm defeats. In particular, he is expected to urge regional leaders to sign up for AI...

President Trump on Thursday nominated two officials each to the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Trump nominated Democrat Kristin Johnson and Republican Steven Levine to the SEC, with their respective terms set to expire in 2029 and 2030. Johnson previously served as a commissioner at the CFTC, after...

President Trump on Thursday nominated two officials each to the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Trump nominated Democrat Kristin Johnson and Republican Steven Levine to the SEC, with their respective terms set to expire in 2029 and 2030. Johnson previously served as a commissioner at the CFTC, after...

Hong Kong’s construction industry is facing mounting public scrutiny following a string of scandals involving substandard work, defective installations and questionable maintenance practices. From malfunctioning hospital lifts and missing fire-safety components in lift door frames to defective columns at a railway station and structural flaws in residential projects, the incidents have raised concerns over construction quality, regulatory oversight and accountability. Secretary for Development...

Jensen Huang’s abrupt resignation from Nvidia has cast uncertainty over the US chip giant’s multibillion-dollar investments in open-source artificial intelligence, while potentially depriving Chinese developers of one of their most influential advocates in Washington. His departure could prompt Nvidia to scale back spending on open-weight models and their supporting infrastructure, analysts said, although strong commercial incentives would likely keep the company committed to the broader...

Commerce Secretary Howard Lutnick has agreed to testify before Congress amid bipartisan concerns about the Nvidia spy scandal and the agency's enforcement of chip export controls. Lutnick has "proactively agreed to appear voluntarily" before the Senate Banking Committee, spokesperson Kristen Eichamer said in a statement. Senate Banking Chair Tim Scott (R-S.C.) sent letters to both...

Commerce Secretary Howard Lutnick has agreed to testify before Congress amid bipartisan concerns about the Nvidia spy scandal and the agency's enforcement of chip export controls. Lutnick has "proactively agreed to appear voluntarily" before the Senate Banking Committee, spokesperson Kristen Eichamer said in a statement. Senate Banking Chair Tim Scott (R-S.C.) sent letters to both...

A global outage for Microsoft web services continued to disrupt email accounts and some other applications worldwide on Friday, while the broader stock market remains unsteady.

Two environmental samples taken from Hong Kong’s Mai Po nature reserve have tested positive for the “highly pathogenic” H5 avian flu virus, the Agriculture, Fisheries and Conservation Department (AFCD) has said. A department spokesman said that a research team from the University of Hong Kong’s School of Public Health had confirmed the positive tests on samples collected on Wednesday as part of regular surveillance. “The AFCD is closely monitoring the situation of the birds in the Mai Po nature...

China and the United States have a shared interest in preventing artificial intelligence (AI) from being misused, but differing views over what constitutes a serious safety incident could complicate efforts to build a bilateral communication mechanism, according to analysts. US Treasury Secretary Scott Bessent said on Tuesday that Washington and Beijing should cooperate on AI risks while harbouring no illusions about their differences. He noted the two governments had established a new dialogue...

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