Xi Wonders If All Chinese Provinces Need to Flood Into AI, EVs
'When it comes to launching new projects, it's always the same few things: artificial intelligence, computing power, new-energy vehicles,' Xi said in a meeting in Beijing this week in which officials also discussed the property sector.
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New York Post
a few seconds ago
- New York Post
Trump confirms possible China trip, but insists ‘not seeking' Xi summit
President Trump has revealed that he may jet over to China in the near future, but rebuffed suggestions that he is seeking a summit with Beijing counterpart Xi Jinping amid intense trade negotiations between the two economic superpowers. 'The Fake News is reporting that I am SEEKING a 'Summit' with President Xi of China. This is not correct, I am not SEEKING anything!' Trump wrote on Truth Social late Monday from Scotland, where he wrapped up a five-day visit Tuesday. 'I may go to China, but it would only be at the invitation of President Xi, which has been extended. Otherwise, no interest! Thank you for your attention to this matter.' Staffers for Trump and Xi have held discussions about setting up a meeting between the two leaders, potentially on the sidelines of the annual Asia-Pacific Economic Cooperation (APEC) meeting in South Korea, which takes place Oct. 30-Nov. 1, Reuters reported last week. It is unclear whether any discussions of Trump traveling to China directly have been broached. 3 President Trump confirmed ongoing talks with China about him meeting with leader Xi Jinping. Xinhua News Agency via Getty Images 3 President Trump and Chinese leader Xi Jinping's last in-person meeting took place in 2019. XinhuaTrump and Xi last met face-to-face in June 2019 on the sidelines of the G-20 summit in Osaka, Japan. The US and China have until Aug. 12 to reach a full-fledged trade agreement following a months-long truce that has seen duties temporarily come down from up to 145% on Chinese exports to the US and 125% on American goods. Negotiators from Washington and Beijing are holding a third round of talks this week in Stockholm. 'We have a good relationship with China,' Trump told reporters Monday at his Turnberry club on the west coast of Scotland. 'China's tough.' In 2024, China was the third-largest US trading partner among individual nations — behind only Mexico and Canada — with trade between the two nations amounting to $582.4 billion. Further complicating negotiations is Trump's looming threat to impose secondary tariffs of 100% against countries that trade with Moscow until the Kremlin ends its invasion of Ukraine and agrees a peace deal. China and India, in particular, have continued to purchase energy from Russia throughout the 41-month-old war on Ukraine. China has also been accused of providing Moscow's arms industry with critical supplies. 3 The Trump administration is currently involved in trade negotiations with China. Getty Images Beyond trade tensions, US officials have repeatedly warned about Chinese cyber attacks, such as the Salt Typhoon operation that breached American telecommunications systems. On Monday, the Financial Times reported that the Trump administration blocked Taiwanese President Lai Ching-te from stopping in New York City during a planned diplomatic visit to Central America later this year. China has long claimed sovereignty over the island state of Taiwan, which has its own currency, military and government. The US adheres to the One China Policy on paper, which acknowledges Beijing's claim, but takes no position on it.
The Hill
a few seconds ago
- The Hill
What critics don't understand about Trump's energy policies
A recent New York Times article made some alarming claims: China is racing ahead in clean energy, while America under Trump clings to fossil fuels. Beijing is supposedly building wind turbines, solar panels and electric vehicles for a decarbonized world, while Washington is instead doubling down on obsolete oil, gas and coal. The contrast is stark and seemingly damning — the U.S., the article suggests, is losing the future. But this story is misleading. What the article misses is the deeper logic shaping the Trump administration's energy policy. It has little to do with nostalgia or climate skepticism, and everything to do with the demands of artificial intelligence. Trump's energy agenda is being guided by a different kind of technological revolution. Massive AI models, sprawling data centers and next-generation chip foundries demand vast, uninterrupted flows of energy. However clean or cheap they may be, wind and solar, by their intermittent nature, cannot deliver the stable, high-density power these systems require. That distinction, between intermittent and dispatchable energy, is the real dividing line in global energy strategy today. And it's why Trump's policy may be more forward-looking than critics realize. If you want to understand the real rationale, look to Secretary of Energy Chris Wright. In a recent interview, he stated, 'To achieve Nvidia's and America's dream to win the AI race, we've got to produce a lot more electricity.' Wright's position is blunt but accurate. Natural gas, followed by nuclear and coal, is what now powers most of America's electricity, and it is these sources that will fuel the AI boom. 'Expanded natural gas electricity production … that'll be the workhorse of winning the AI race,' Wright explained. Thus, in Wright's view, the Trump administration policy isn't to reject the future but rather to win it by unleashing American energy production to support the backbone of tomorrow's economy: AI chips, training clusters and data centers. Contrast that with the Biden administration's approach. The Inflation Reduction Act was a landmark in climate legislation, pouring hundreds of billions into renewables, clean tech and place-based development incentives. It was designed to build solar farms, wind capacity and green manufacturing hubs, especially in disadvantaged communities. But for all its strengths, the law was designed in a pre-ChatGPT world. A 2023 Treasury Department fact sheet on the law goes on at length about electric heat pumps, rooftop solar and tax credits for underserved areas. It says nothing about AI, chip fabrication or crypto foundries. The Biden plan focused on equity and emissions, while Trump's plan focuses on watts and AI's electricity demands. That contrast became even sharper with Trump's second-term executive orders. Within days of taking office, Trump moved to dismantle the regulatory infrastructure supporting Biden's climate agenda. He ordered agencies to fast-track fossil fuel development and streamline the permitting of pipelines and power stations. Biden-era climate councils and carbon accounting models were scrapped. Electric vehicle mandates were rolled back. Furthermore, Trump's executive orders on nuclear power called for 300 new gigawatts of nuclear capacity by 2050. Advanced reactors are to be deployed at AI data centers and military bases within two years. Uranium enrichment, the revival of shuttered nuclear plants and fuel recycling are all being ramped up under the banner of national security. From liquefied natural gas exports to uranium enrichment, the Trump message is consistent: deregulate, drill, and build. Trump's coalition is not anti-technology — in fact, it is aggressively trying to corner the energy inputs required for technological supremacy, even if it means tearing up climate policy to get there. That brings us back to the New York Times's climate article's core claims. The piece frames the global energy race as a contest between a clean-energy China and a fossil-fueled America, casting the U.S. as the laggard. But that reading confuses the form of energy with its function. The future won't be won by whoever builds the most solar panels. It will be won by the country best positioned to power the technologies that drive tomorrow's economy. And right now, that technology is artificial intelligence. AI isn't just another app layer. It's a foundational shift in computing, manufacturing, defense and global finance. It demands enormous, stable, always-on energy loads. That means natural gas, nuclear and dispatchable capacity, not just wind and sun. By this logic, it may be China — not the U.S. — that's making the bigger strategic misstep. Beijing is doubling down on renewables, but those technologies weren't built to power the AI revolution. Meanwhile, Washington, under Trump, is retooling its energy policy to meet precisely that demand.
Yahoo
29 minutes ago
- Yahoo
SergeFerrari Group: Revenue of €178.7 Million in the First Half of 2025
Continued sales momentum in the 2nd quarter of 2025 Growth exceeds 10% in the first six months of 2025 SAINT-JEAN-DE-SOUDAIN, France, July 29, 2025--(BUSINESS WIRE)--Regulatory News: SergeFerrari Group (FR0011950682 – SEFER), SergeFerrari Group (FR0011950682 - SEFER), a leading global supplier of innovative flexible composite materials, listed on Euronext Paris – Compartment C, today announced its revenues for the first half of 2025. Breakdown of sales by geographic area (unaudited) (€ thousands) 2ndquarter2025 2ndquarter2024 Ch. atcurrentscope andexchangesrates Ch. atconstantscope andexchangesrates H1 2025 H1 2024 Ch. atcurrentscope andexchangesrates Ch. atconstantscope andexchangesrates Europe 69,068 66,730 +3.5% +3.2% 128,589 120,519 +6.7% +6.5% Americas 14,979 8,325 +79.9% +86.4% 23,399 16,003 +46.2% +48.7% Asia – Africa – Pacific 15,512 13,387 +15.9% +16.0% 26,743 25,382 +5.4% +5.4% Total revenues 99,558 88,442 +12.6% +13.0% 178,731 161,904 +10.4% +10.5% Sébastien Baril, SergeFerrari Group's chairman of the Executive Board, stated: "Signs of improvement in our historic markets are gradually materializing. Serge Ferrari recorded an increase in revenues of over 10% in the first half of the year. This performance encourages us to continue our efforts to increase our operating leverage, our customer service and the flexibility of our cost structure in an environment where adaptability and responsiveness remain key." Q2 2025 activity The Group reported revenue of €99.6 million in the 2nd quarter of 2025, up 12.6% on a current scope and exchange rate basis, and up 13.0% on a constant scope and exchange rate basis compared with the same period last year. This change is due to: A currency effect of -0.4 %; A volume effect of -3.0%, due mainly to a fall in volumes of modular structures, for which the end markets are declining; A favorable price-mix effect of +16.0%, driven by a confirmed recovery in activities that have traditionally been profitable for the Group, such as Solar Protection and the new Solutions business lines, as well as the impact of price increases introduced to mitigate the negative effect of high inflation on certain raw materials. H1 2025 activity The Group posted sales of €178.7 million in the first half of 2025, up by more than 10% on both current and constant scopes and exchange rates. Half-year sales trends by geographical region are as follows: Europe posted solid revenue growth of 6.7% on a current scope and exchange rate basis and 6.5% on a constant scope and exchange rate basis, with sales of almost €129 million over the period, thanks to historic markets that remain well oriented. After a difficult 2024 exercise in North American markets, sales in the Americas rebounded strongly in the first half. Growth accelerated sharply between the 1st and 2nd quarters, taking half-year sales up to €23.4 million, representing growth at constant scope and exchanges rates of +49%. Sales in the Asia-Africa-Pacific region were up 5.4% on H1 2024, both on a current and constant scope and exchange rates basis, due to good momentum in the various markets. Outlook Based on a seasonal history between the first (driven by solar protection activity and tense architecture) and the second half of the fiscal year, the group will focus (despite an uncertain context, particularly on the geopolitical level) on maintaining its trajectory initiated with Transform 2025 that aims at increasing its adaptability and profitability. Financier calendar Publication of first half 2025 results on September 10, 2025, after market close. ABOUT SERGEFERRARI GROUP The Serge Ferrari Group is a leading global supplier of composite materials for Tensile Architecture, Modular Structures, Solar Protection and Furniture/Marine, in a global market estimated by the Company at around €6 billion. The unique characteristics of these products enable applications that meet the major technical and societal challenges: energy-efficient buildings, energy management, performance and durability of materials, concern for comfort and safety together, opening up of interior living spaces etc. Its main competitive advantage is based on the implementation of differentiating proprietary technologies and know-how. The Group has manufacturing facilities in France, Switzerland, Germany, Italy and Asia. Serge Ferrari operates in 80 countries via subsidiaries, sales offices and a worldwide network of over 100 independent distributors. At the end of 2024, SergeFerrari Group posted consolidated revenues of €323.6 million, more than 80% of which was generated outside France. SergeFerrari Group is listed on Euronext Paris – Compartment C (ISIN code: FR0011950682). SergeFerrari Group shares are eligible for the PEA-PME and FCPI investment schemes. View source version on Contacts Valentin Chefson Head of Relations Investisseursinvestor@ NewCap Investor Relations – Financial Communication Théo MartinTel. : 01 44 71 94 94sferrari@
