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☆ China looks to limit children to two hours a day on their phones
▼ + stars: | 2023-08-02 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

Youngsters check mobile phones during a dinner time at a cafeteria in Shanghai, China September 3, 2021. Users aged 16 to 18 would be allowed two hours a day, children aged eight to 16 would get one hour while children under eight would be allowed just eight minutes. But the CAC said service providers should allow parents to opt out of the time limits for their youngsters. Xia Hailong, a lawyer at the Shanghai Shenlun law firm, said the rules would be a headache for the internet companies. The proposed rules come after signals from Beijing that a years-long regulatory crackdown on its technology industry has ended.

Persons: Aly, Hong Kong, Xia Hailong, ByteDance's, Josh Ye, Liz Lee, Jacqueline Wong, Robert Birsel Organizations: REUTERS, Cyberspace Administration of China, CAC, HK, Tencent Holdings, Authorities, Thomson Locations: Shanghai, China, Hong, Hong Kong, Beijing

☆ China floats two-hour daily limit of smartphone screen time for kids
▼ + stars: | 2023-08-02 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

The powerful Cyberspace Administration of China proposed rules that would limit the screen time of children aged under 18 years old. Chinese regulators have proposed rules that would limit the smartphone screen time of people under the age of 18 to a maximum of two hours per day. The radical draft rules laid out by the increasingly powerful Cyberspace Administration of China (CAC) highlight Beijing's desire to exert control over more parts of the country's digital life. In 2021, China introduced regulation that restricted teens under 18 years of age from playing online video games for more than three hours per week. The CAC warned online firms not to provide services that induce addiction or are detrimental to the physical and mental healthy of kids.

Organizations: Cyberspace Administration, Administration of China, CAC, China's Locations: China

“In the age of AI, where data is the new oil, China is the new Saudi Arabia”, venture capitalist Lee Kai-fu declared in 2018. Washington may soon tighten export restrictions to China by targeting AI semiconductors, according to the Wall Street Journal. A slowing economy and brutal price war in the fiercely competitive cloud market will only make monetising AI products harder. China’s AI moment has arrived, only with far less promise than initially hoped. China wants to become a world leader in AI by 2030, according to a 2017 roadmap released by the State Council.

Persons: Lee Kai, OpenAI's, Xi Jinping, Goldman Sachs, Robin Li, Baidu’s, Bernstein, SenseTime, Xi, Una Galani, Thomas Shum Organizations: Reuters, Saudi Arabia ”, OpenAI's ChatGPT, European Union, Baidu, HK, Nasdaq, Washington, Wall Street, Nvidia, AMD, Microsoft, CloudWalk Technology, Cyberspace Administration, China, State, Thomson Locations: HONG KONG, China, Republic, Saudi Arabia, United States, Beijing, York, Shanghai

HONG KONG, July 18 (Reuters) - China plans to appoint the CEO of state-owned telecoms giant China Unicom (0762.HK), (600050.SS), Liu Liehong, as the head of its new national data bureau, four sources said, putting him in charge of efforts to make the country a digital superpower. China announced plans for the data bureau in March as part of a sweeping government reshuffle. Its formation is part of efforts to achieve President Xi Jinping's vision of a "digital China", where data is managed alongside labour and capital as a key economic driver. China's internet regulator, the Cyberspace Administration of China (CAC), will also transfer some staff to the data bureau, said one source. "Whether Mr. Liu Liehong will take up any role in the National Data Bureau shall be subject to the decision of the PRC government," it added.

Persons: Liu Liehong, Liu, Xi, China Unicom, Julie Zhu, Kevin Huang, Jane Xu, Brenda Goh, Sam Holmes Organizations: HK, National Data Bureau, Reuters, China, Tech Development Department, Cyberspace Administration of China, CAC, Information Office, National, Bureau, China Electronics Technology Group Corporation, Ministry of Industry, Information Technology, Communist Party, Committee, Thomson Locations: HONG KONG, China, Hong Kong, Chengdu, Sichuan province

☆ The bond and stock markets might finally agree on Fed expectations
▼ + stars: | 2023-07-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

CNN —The bond and stock markets are finally seeing eye to eye when it comes to the Federal Reserve. Stocks and the 10-year Treasury’s real yield have begun moving inversely again, according to a research note from Morgan Stanley. That’s a reversal from earlier this year, when yields and stocks both moved higher. A concurrent rally both in bond yields and stocks is atypical. The Consumer Price Index report for June showed that annual inflation slowed to 3%, marking its lowest rate since March 2021.

Persons: Morgan Stanley, George Cipolloni, they’re, ”, Price, Michael Kushma, We’re, Laura He, Read, Goldman Sachs Organizations: CNN Business, Bell, CNN, Federal Reserve, Stocks, Valley Bank, Signature Bank, Penn Mutual Asset Management, Nasdaq, Cyberspace Administration, Financial Services, Bank of America, US Bancorp, Ally, American Express Locations: China

☆ China takes major step in regulating generative AI services like ChatGPT
▼ + stars: | 2023-07-14 | by ( Laura He | ) edition.cnn.com time to read: +4 min

China also urges platforms to “participate in the formulation of international rules and standards” related to generative AI, it said. Generative AI tools like ChatGPT have taken the world by storm. Generative AI refers to the technology that underpins platforms like ChatGPT. In the global race to build guardrails for how governments tap AI, China had gained a significant head start, US Senator Mark Warner warned last month. So far, Baidu, Alibaba and JD.com’s generative AI services are either in the trial stage or being tested by corporate users.

Persons: —, Olivier Morin, Mark Warner, ” Organizations: Hong Kong CNN, Cyberspace Administration, Ant, Baidu, Getty, China, Politico’s Global Tech Summit ., ” Citi, National Development, Reform Commission Locations: Hong Kong, China, Beijing, AFP, United States

☆ China issues temporary rules for generative AI services
▼ + stars: | 2023-07-13 | by ( Josh Ye | ) www.reuters.com time to read: +1 min

HONG KONG, July 13 (Reuters) - China issued a set of interim measures on Thursday to manage the booming generative artificial intelligence (AI) industry, paving the way for Chinese tech companies to roll out AI services in the country. The success of ChatGPT, a wildly popular chatbot developed by the Microsoft-backed OpenAI (MSFT.O), ignited a generative AI frenzy in China and worldwide. The internet watchdog said that AI services offered in the country need to be in line with China's socialist values. It said that regulators will "formulate corresponding classification and grading regulatory rules or guidelines" based on different generative AI technologies' characteristics and use cases. It also added that industry organisations, firms and research institutes that develop and apply generative AI tech but do not provide it to the public will not be subject to the measures.

Persons: Josh Ye, Himani Sarkar, Kim Coghill Organizations: Cyberspace Administration, Microsoft, Thomson Locations: HONG KONG, China

☆ China finalizes first-of-its-kind rules governing generative A.I. services like ChatGPT
▼ + stars: | 2023-07-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Chinese regulators on Thursday finalized first-of-its-kind rules governing generative artificial intelligence as the country looks to ramp up oversight of the rapidly-growing technology. The powerful Cyberspace Administration of China (CAC) said it worked with several other regulators to come up with the new regulation that will come into effect on Aug. 15. Generative AI is a fast-growing area of technology in which artificial intelligence services are able to generate content such as text or images. ChatGPT, developed by U.S. firm OpenAI, is the most well-known example and allows users to prompt the chatbot and receive replies to queries.

Organizations: Cyberspace Administration of China, U.S

☆ US Senator Warren, others warn against L3Harris plan to buy Aerojet
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

Senator Elizabeth Warren, a Democrat and frequent merger critic, joined three other lawmakers on Tuesday to urge the Defense Department to thoroughly review defense contractor L3Harris Technologies' (LHX.N) $4.7 billion deal for Aerojet Rocketdyne Holdings (AJRD.N). The letter was sent to Defense Secretary Lloyd Austin and William LaPlante, undersecretary of defense for acquisition and sustainment. In addition to Warren, the letter was signed by Representatives Chris Deluzio, John Garamendi and Mark Pocan. With the Ukraine war driving up demand for missiles and defense systems, Aerojet became an attractive takeover target. Aerojet develops and manufactures liquid and solid rocket propulsion and hypersonic engines for space, defense, civil and commercial applications.

Persons: Elizabeth Warren, Warren, Lockheed Martin, Lloyd Austin, William LaPlante, Chris Deluzio, John Garamendi, Mark Pocan, Aerojet, Diane Bartz, David Gregorio Our Organizations: Defense Department, L3Harris Technologies, Aerojet Rocketdyne Holdings, The Defense Department, Raytheon, Boeing, Defense, L3 Technologies, Harris Corp, United, National Aeronautics and Space Administration, NASA, Thomson Locations: Ukraine, United States

☆ China to lay down AI rules with emphasis on content control - FT
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: 1 min

July 11 (Reuters) - The Cyberspace Administration of China aims to create a system that will force companies to gain a licence before they can release generative artificial intelligence systems, the Financial Times said on Tuesday, citing people close to regulators. Reporting by Lavanya Ahire in Bengaluru; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Lavanya, Muralikumar Organizations: Cyberspace Administration, China, Financial Times, Thomson Locations: Bengaluru

☆ Top Wall Street analysts favor these stocks for the long haul
▼ + stars: | 2023-07-09 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Here are five stocks chosen by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. In line with his investment thesis, Setyan reaffirmed a buy rating on the stock with a price target of $123. He explained that his price target reflects a premium valuation, which is "appropriate given our expectation of accelerating market share gains within casual dining for the foreseeable future." Feinseth reaffirmed a buy rating on CCL and boosted his price target to $23 from $13. Accordingly, he reiterated a buy rating and increased the price target to $490 from $365.

Persons: Sanjay Mehrotra, Micron Scott, Wall, Goldman Sachs, Toshiya Hari, Micron's, Hari, Nick Setyan, Setyan, Ivan Feinseth, Feinseth Organizations: Micron, Micron Scott Mlyn, CNBC, Nasdaq, Cyberspace Administration, Tigress, CCL Locations: China, TipRanks, Texas, MDB

☆ Here are Thursday's biggest analyst calls: Nvidia, Micron, Netflix, Amazon, Disney, TJX, Pfizer and more
▼ + stars: | 2023-06-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Goldman Sachs reiterates Micron as buy Goldman said it's standing by its buy rating on the chipmaker after its earnings report Wednesday. JPMorgan reiterates Amazon as overweight JPMorgan said it's bullish heading into Amazon Prime Day in July. Bank of America reiterates Nvidia as buy Bank of America said it sees "AI networking upside" after a meeting with company management. Piper Sandler initiates TJX Companies as overweight Piper said the discount retailer is a top idea for the second half. Deutsche Bank reiterates Pentair as buy Deutsche Bank said Pentair is more than just a pool company.

Persons: Morgan Stanley, Freyr, Goldman Sachs, Goldman, China —, it's, Collette Kress, Networking Gilad Shainer, NVDA, OSK, Piper Sandler, Piper, KeyBanc, Pentair, Oppenheimer Organizations: Micron, Cyberspace Administration, JPMorgan, Amazon, " Bank of America, Nvidia, Bank of America, Networking, TAM, JPMorgan downgrades, Citizens, 2Q, Citi, Netflix Citi, Netflix, UBS, Warner Music, Deutsche Bank, Oshkosh Deutsche Bank, TJX Companies, DIS, Suisse, Pfizer, Credit Suisse, pharma, Spotify, FV Locations: China, 3Q22

☆ Micron invests another $600 million in China despite partial sales ban
▼ + stars: | 2023-06-16 | by ( ) edition.cnn.com time to read: +2 min

Micron said Friday it was committed to China and would invest 4.3 billion yuan ($603 million) over the next few years in its chip packaging facility in the city of Xian. Micron, the biggest US memory chipmaker, was last month targeted by China’s cyberspace regulator, which said the firm had failed a network security review. “This investment project demonstrates Micron’s unwavering commitment to its China business and team,” it quoted CEO Sanjay Mehrotra as saying. Micron, China’s commerce ministry and the Cyberspace Administration of China did not immediately respond to requests for comment. In May, Micron forecast a hit to revenue in the low-single to high-single digit percentages after the China ban.

Persons: Sanjay Mehrotra, Powertech Organizations: Micron, Technology Inc, Cyberspace Administration, China Locations: China, Xian

June 16 (Reuters) - Ball Corp (BALL.N), the world's largest supplier of beer cans, is exploring a sale of its business that provides aerospace and national defense hardware, such as sensors and antennas, for over $5 billion, people familiar with the matter said on Friday. Ball launched an auction process to sell the aerospace unit in recent weeks, the sources said. Spokespeople for Ball and Textron did not immediately respond to requests for comment, while BAE declined to comment. Ball shares rose 7% to $58.57 in afternoon trading in New York on Friday, giving the company a market value of more than $18 billion. The aerospace business has been generating steady albeit limited cash flow for Ball, accounting for $170 million out of its $1.45 billion in comparable operating earnings in 2022.

Persons: Ball, David Carnevali, Leslie Adler, Bill Berkrot Organizations: Ball Corp, BAE Systems, Textron, Ball, BAE, National Aeronautics and Space Administration, NASA, Oceanic, Thomson Locations: Westminster , Colorado, New York

☆ China to clamp down on AirDrop and Bluetooth file sharing for national security reasons
▼ + stars: | 2023-06-09 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —China’s cyberspace regulator plans to issue new rules clamping down on the use of wireless file sharing functions such as Bluetooth and Apple’s AirDrop on national security grounds. The move comes after protesters in China used AirDrop during anti-government protests in October 2022 to share content, bypassing strict internet censorship. Weeks later, Apple moved to limit the use of the AirDrop function on devices in China. The aim of the regulation is to “maintain national security and social public interests” by regulating the use of close-range wireless communication tools such as Bluetooth, Wi-Fi and other technologies, it said. Other than AirDrop, Google’s Nearby Share allows users to transfer data between Android and Chrome OS devices via Bluetooth and Wi-Fi.

Persons: Weeks, Apple, Xi Jinping, Oppo, Xi Organizations: Hong Kong CNN, Bluetooth, Cyberspace Administration, The New York Times Locations: Hong Kong, China, Beijing

Companies Boeing Co FollowJune 7 (Reuters) - Boeing (BA.N) was sued on Wednesday by a Colorado company that accused the aerospace giant of stealing trade secrets for NASA's Space Launch System rocket, and then building components with "critical" safety flaws that could endanger astronauts. "Boeing has captured billions of dollars in revenue because of the infringement of Wilson's trade secrets," and must turn over "all revenues and profits Boeing has obtained as a result," the complaint said. Wilson also said Boeing stole trade secrets related to bolt installation tools for its 787 Dreamliner aircraft. Boeing has described NASA's Space Launch System as the most powerful rocket ever built, and "the backbone for a permanent human presence in deep space." The case is Wilson Aerospace LLC v Boeing Co, U.S. District Court, Western District of Washington, No.

Persons: Wilson, David Wilson, Jonathan Stempel, Marguerita Choy Organizations: Boeing Co, Boeing, Wilson Aerospace, NASA, National Aeronautics and Space Administration, Western District of Washington, Thomson Locations: Colorado, Seattle, Arlington , Virginia, Fort Collins , Colorado, Western District, New York

☆ Fact Check-Image does not show photo captured by the James Webb telescope
▼ + stars: | 2023-06-06 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

An image showing dark grey clouds and small specks of light on Jupiter is an illustration created using data from the U.S. National Aeronautics and Space Administration’s (NASA) Jupiter mission ‘Juno’, and not a photograph captured by the James Webb Space Telescope as being claimed by some social media users. The graphic can be found on a page on NASA's website titled “Shallow Lightning on Jupiter (Illustration)” (here), credited to Gerald Eichstädt, a “citizen scientist” with NASA who contributes to the Juno mission (here). NASA launched the infrared James Webb Space Telescope in December 2021, describing it as the premiere space-science observatory of the next decade. The image of a storm in Jupiter’s atmosphere is an illustration, not a photograph captured by the James Webb Telescope. This article was produced by the Reuters Fact Check team.

Persons: ’, James Webb, Gerald Eichstädt, Juno, NASA’s, Read Organizations: U.S . National Aeronautics and Space, NASA, James Webb Space Telescope, James, Reuters

☆ Fact Check-Actor playing Stanley Kubrick discusses staging moon landing
▼ + stars: | 2023-05-31 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Filmmaker Stanley Kubrick did not admit to helping the U.S. government and the National Aeronautics and Space Administration (NASA) stage the Apollo moon landings between 1969 and 1972. A quote from an actor playing the director in a recording of a purposely fabricated interview has been falsely attributed to Kubrick himself. ALL the moon landings were faked and I was the one who filmed it all.”Similar posts can be seen on Facebook (here) and on Twitter (here). T. Patrick Murray did not immediately respond to a request for comment. The quote about the moon landings being staged comes from a film where an actor plays Stanley Kubrick, not from the director himself.

Persons: Stanley Kubrick, Kubrick, ’, Patrick Murray, Kubrick’s, Christiane Kubrick, ”, Read Organizations: National Aeronautics and Space Administration, NASA, Facebook, Twitter, ” Reuters, Reuters

☆ China deletes 1.4 million social media posts in crackdown on 'self-media' accounts
▼ + stars: | 2023-05-27 | by ( Eduardo Baptista | ) www.reuters.com time to read: +3 min

BEIJING, May 27 (Reuters) - China's cyberspace regulator said 1.4 million social media posts have been deleted following a two-month probe into alleged misinformation, illegal profiteering, and impersonation of state officials, among other "pronounced problems". The Cyberspace Administration of China (CAC) said in a statement on Friday it had closed 67,000 social media accounts and deleted hundreds of thousands of posts between March 10 and May 22 as part of a broader "rectification" campaign. Since 2021, China has targeted billions of social media accounts in a bid to "clean" its cyberspace and make it easier for authorities to control. The latest crackdown targeted accounts on popular Chinese social media apps including WeChat, Douyin, and Weibo that fall under the category of "self media," a term that broadly refers to accounts that publish news and information but are not government-run or state-approved. Some 25,000 other accounts were targeted for impersonating public institutions, such as disease and prevention control centers and state-run research institutes.

China's chip stocks rallied on Monday morning following Beijing's announcement to bar some purchases of products from U.S. memory chipmaker Micron . China's Cyberspace Administration barred operators of "critical information infrastructure" in China from buying products from the U.S. chip giant following a security review conducted by the Cyberspace Administration of China. Chinese authorities said Micron products have failed its network security review, and cited "serious potential network security issues." The firm poses a "major security risk" to China's critical information infrastructure supply chain and affects [its] national security," a statement said. Shares of Chinese chipmakers largely rose on Monday following the move: Hong Kong-listed Hua Hong Semiconductor rose as much as 3.14% on Monday, while SMIC rose 2.64%.

☆ Stocks making the biggest moves midday: PacWest, DraftKings, Pfizer, Foot Locker and more
▼ + stars: | 2023-05-22 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading. DraftKings — Shares of the sports gambling platform soared 8% in midday trading. Earlier on Monday, UBS upgraded the stock to buy from neutral on strong growth in new states. Zions Bancorporation — The bank stock jumped 6.7% after Hovde Group initiated coverage of Zions at outperform, with a $40 price target, according to FactSet. Norfolk Southern — Norfolk Southern gained less than 1% during midday trading.

☆ Micron Technology: China bans companies working in key infrastructure projects from buying US chips
▼ + stars: | 2023-05-22 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China has banned Chinese companies working on key infrastructure projects from buying products from US semiconductor manufacturer Micron, in a major escalation of an ongoing battle between the world’s top two economies over access to crucial technology. The Cyberspace Administration of China announced the decision on Sunday, saying the US chip maker had failed to pass a cybersecurity review. As a result, operators involved in domestic critical information infrastructure projects should stop purchasing products from Micron, it said. Since October 2022, Washington has imposed sweeping export curbs on advanced chips and chip-making equipment to China, in an attempt to cut off China’s access to critical technology for military purposes. In March, Japan and the Netherlands, both key US allies, also announced restrictions on overseas sales of chip-making technology to countries including China.

☆ Stocks making the biggest premarket moves: Apple, Meta, Micron, PacWest and more
▼ + stars: | 2023-05-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading:Apple — Shares of the iPhone maker fell about 1% premarket after Loop Capital downgraded Apple's stock to hold from buy. Nike , Foot Locker — Shares of Nike and Foot Locker declined 1.5% and 2.4%, respectively, in premarket trading. Foot Locker missed on the top and bottom lines in its first fiscal quarter, and lowered its guidance. UBS upgraded shares to a buy from neutral rating, saying that expansion into new markets should fuel growth. Norfolk Southern , CSX — Shares of the railroads added 1.8% and 1.5%, respectively, in premarket trading.

☆ China fails Micron's products in security review, bars some purchases
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: +2 min

According to China's broad definition of critical information infrastructure, this could include sectors ranging from transport to finance. "The review found that Micron's products have serious network security risks, which pose significant security risks to China's critical information infrastructure supply chain, affecting China's national security," the Cyberspace Administration of China (CAC) said in a statement. China announced its review of Micron's products in late March. The larger chunk of Micron's products flowing into China are being purchased by non-Chinese firms for use in products manufactured there, according to analysts. China in September 2021 imposed rules aimed at protecting critical information infrastructure, which require their operators to comply with stricter requirements around areas such as data security.

☆ China says Micron's products fail security review, bars some purchases
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: +2 min

"The review found that Micron's products have serious network security risks, which pose significant security risks to China's critical information infrastructure supply chain, affecting China's national security," the Cyberspace Administration of China (CAC) said in a statement. Operators of critical information infrastructure will be required to stop procuring from Micron, the CAC added. According to China's broad definition of critical information infrastructure, this could include sectors ranging from transport to finance. The CAC did not detail what risks it had found nor what Micron products this would impact. China in September 2021 imposed rules aimed at protecting critical information infrastructure, which require their operators to comply with stricter requirements around areas such as data security.

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