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By Ross Kerber BOSTON, May 13 (Reuters) – Leaders of three of the biggest U.S. public pension systems said they have major concerns over SpaceX’s “extreme” ownership and control set-up in its upcoming public stock listing, urging founder and CEO Elon Musk to remove provisions that would curb shareholder protections. “We are writing to express our serious concerns with the reported novel and extreme governance structure and provisions SpaceX is […]

NEW YORK (AP) — A man accused of running a secret Chinese spy outpost from a nondescript office building in Manhattan’s Chinatown neighborhood was convicted Wednesday of acting as an illegal foreign agent. Lu Jianwang, 64, was also convicted of obstructing justice by deleting text messages that U.S. prosecutors said included orders from Beijing to silence, harass and intimidate pro-democracy dissidents. He was acquitted on a related conspiracy charge. The […]

By Wen-Yee Lee HSINCHU, Taiwan, May 14 (Reuters) – TSMC, the world’s largest contract chipmaker, expects the global semiconductor market to exceed $1.5 trillion by 2030, topping its previous forecast of $1 trillion, according to its presentation materials ahead of a tech symposium on Thursday. Here are the ​details: • AI and high-performance computing are expected to account for 55% of the $1.5 trillion market, followed by smartphones with 20%, and […]

By Ankur Banerjee SINGAPORE, May 14 (Reuters) – Stocks rose on Thursday, powered by AI fervour that pushed South Korea’s SK Hynix to the brink of joining the trillion-dollar club, while the spotlight was firmly on a high-stakes summit between U.S. President Donald Trump and China’s Xi Jinping. Trump heads into a series of meetings with China’s Xi in Beijing, aiming to secure economic wins, maintain a fragile trade truce […]

By Abhijith Ganapavaram NEW DELHI, May 14 (Reuters) – Air India’s thousands of flight cuts due to the Iran war and Pakistan’s airspace ban have become a boon for foreign carriers, with Lufthansa Group and Cathay Pacific among those adding services to one of the world’s fastest-growing aviation markets. With their Middle Eastern routes curtailed and some passengers wary of connecting in the conflict-hit Gulf, India has become more attractive […]

By Rae Wee SINGAPORE, May 14 (Reuters) – The dollar got a lift from elevated U.S. Treasury yields on Thursday as investors wagered the Federal Reserve would hike rates this year, while an impasse between the U.S. and Iran over the war in the Middle East drove more safe-haven flows. The global focus was also on a highly anticipated meeting between Donald Trump and China’s Xi Jinping in Beijing on […]

SEOUL, May 14 (Reuters) – A threatened strike by Samsung Electronics’ union would be a significant risk to South Korea’s economic growth, exports and markets, Finance Minister Koo Yun-cheol said on Thursday. The chipmaking giant and its union failed to reach a pay deal on Wednesday, while the unionised workers plan to strike for 18 days starting May 21. (Reporting by Jihoon LeeEditing by Ed Davies) Brought to you by […]

Presidents Xi Jinping and Donald Trump are meeting on Thursday in Beijing for a U.S.-China summit where few breakthroughs are expected on divisive issues ranging from the Iran war, trade, technology and Taiwan. Trump hopes to focus talks on trade and deals for China to buy more agricultural products and passenger planes, setting up a board to address their differences and avoid a repeat of the trade war ignited last […]

BEIJING (AP) — President Donald Trump on Thursday kicks off the busiest portion of his China visit, a summit expected to be long on pageantry and symbolism but unlikely to feature major breakthroughs on key issues like trade, U.S. relations with Taiwan or the war in Iran. He arrived at an elaborate welcome ceremony on Wednesday night, and his motorcade rolled past a series of American and Chinese flags, as […]