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(Bloomberg) — Baidu Inc. released a new artificial intelligence model that articulates its reasoning, in an apparent bid to regain momentum against up-and-coming rivals like DeepSeek. Most Read from Bloomberg The Ernie X1 model by China’s internet search leader works similarly to DeepSeek R1 — which shocked Silicon Valley by offering comparable performance to the world’s best chatbots at a fraction of their development cost. Baidu’s reasoning model excels in areas like daily dialogs, complex calculations and logical deduction, it said in a statement Sunday. Baidu also upgraded its flagship foundation model to Ernie 4.5. It immediately made all tiers…

(Bloomberg) — European Central Bank Governing Council member Francois Villeroy de Galhau said the US risks bringing about the next financial emergency through its support of cryptocurrencies and non-bank finance. Most Read from Bloomberg “The United States risks sinning through negligence,” he said in an interview with the French weekly La Tribune Dimanche. “Financial crises often originate in the United States and spread to the rest of the world. By encouraging crypto-assets and non-bank finance, the American administration is sowing the seeds of future upheavals.” Villeroy added that European supervision was better secured and said there was no risk of…

FAISALABAD: Defending champions Karachi Region Whites and Bahawalpur Region registered victories on the opening day of the Bank Alfalah presents Inverex Solar Energy National T20 Cup here at the Iqbal Stadium on Friday. Skipper Saud Shakeel led Karachi Whites from the front with a match-winning half-century as they romped to a 30-run victory in the rain-hit first match of the tournament. After electing to bat first, Karachi Whites posted 159-6 in the allotted 20 overs. Left-handed Saud smashed nine fours and one six in his 50-ball 76 while opening the batting. Khurram Manzoor was the other notable run-getter scoring 29…

It’s not just Walmart.The leaders of companies that serve everyone from penny-pinching grocery shoppers to first-class travelers are seeing cracks in demand, a shift after resilient consumers propped up the U.S. economy for years despite prolonged inflation. On top of high interest rates and persistent inflation, CEOs are now grappling with how to handle new hurdles like on-again-off-again tariffs, mass government layoffs and worsening consumer sentiment.Across earnings calls and investor presentations in recent weeks, retailers and other consumer-facing businesses warned that first-quarter sales were coming in softer than expected and the rest of the year might be tougher than Wall Street thought. Many of the executives…

Kamala Harris speaks at HumanX.Big Event Media/Getty Images for HumanX Conference At HumanX in Las Vegas tech leaders talked about on AI’s impact on business. Speakers like Kamala Harris emphasized collaboration between the tech industry and government. AI enthusiasm ran high but many attendees were focused on practical ways to drive company revenue. This week, I attended HumanX, where thousands of startup founders, investors, and tech industry executives gathered in Las Vegas to discuss AI’s value proposition to their bottom lines — and the future. The nearly four-day conference opened with remarks from former Vice President Kamala Harris. Harris, who…

TURIN: Pakistan’s special athletes added to their medal tally on Saturday during the Special Olympics World Winter Games in Turin with multiple athletes winning medals in various events. Muneeb Ur Rehman won his second gold medal of the Games in the men’s 100-metre cross-country skiing event, while Abdul Saboor and Manahil won gold medals in the men’s and women’s 400-meter snowshoeing races, respectively. Pakistan’s special athletes have won a total of 11 medals, including, six gold, three silver and two bronze medals, thanks to their impressive performance at the Games. Muneeb led the charge as he cruised to victory ahead…

The Federal Reserve is expected to hold interest rates steady at the end of its two-day meeting next week, despite some encouraging news on inflation. Although inflation receded last month, an escalating trade war threatens to cause prices to rise on a wide range of consumer goods going forward.“This is likely just the beginning with tariffs on Europe and universal ones to follow suit over the coming weeks,” Andrzej Skiba, head of U.S. fixed income at RBC Global Asset Management, said in an email. “This will be inflationary, and the Fed won’t likely be able to cut rates in this environment.”The federal funds rate sets what banks charge each other…

TANJUNG REJO, Indonesia (AP) — The loud whirr of a chainsaw sounds through the forest as a small group of farmers gathers around a tree filled with red seed pods. With one slow stroke, a severed knobby branch hits the ground. “Now it will help the tree grow new fruit,” farmer Tari Santoso says with a smile. Thousands of cocoa farmers across Indonesia like Santoso are working with businesses and other organizations to protect their crops from the bitter impacts of climate change and underinvestment that have pushed cocoa prices to record levels. Cocoa trees are high maintenance: Grown only…

A federal judge on Saturday temporarily blocked an effort by President Donald Trump to use the Alien Enemies Act of 1798 to deport suspected members of a Venezuelan gang he has accused of “unlawfully infiltrating” the country. He also ordered any deportation flights carrying those subject to the presidential proclamation to return to the United States.Trump on Saturday invoked the rarely used wartime authority, accusing Venezuelan gang Tren de Aragua of “infiltrating” Venezuelan President Nicolas Maduro’s regime, including its “military and law enforcement apparatus”; perpetuating “irregular warfare” within the United States and using drug trafficking as a weapon against American…

CNN  —  President Donald Trump says his administration is making “very big” moves and has acknowledged there’s likely a “period of transition” or “disturbance” that could result. When asked during an interview that aired this weekend on Fox News about the likelihood of a recession being one of those outcomes, Trump told Maria Bartiromo: “I hate to predict things like that.” Fears of a severe economic downturn have escalated in recent weeks, and stocks plunged Monday on Trump’s comments, continuing a steep selloff driven by concerns about the impact of tariffs on US economic growth. But are recession fears justified?…