PwC Troubles in China Deepen With Exit of Hong Kong Partners
Over the coming month, at least 10 partners in the city are poised to leave, adding to the 20 that have already exited the firm in the past six months, according to people familiar with the matter. On the Chinese mainland, some 77 partners have left their roles since December, according to filings with the unified supervision platform of the Chinese CPA profession.
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Yahoo
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DeepSeek Postpones New AI Model After Huawei Chip Hurdles
Chinese AI startup DeepSeek has hit the brakes on its next big release. The company was gearing up to debut its new large language model, R2, but ran into trouble training it on Huawei chips, the Financial Times reported. It's the latest setback tied to U.S. export controls that keep Nvidia's (NASDAQ:NVDA) most powerful GPUs out of Chinese hands a gap that's proving hard to fill. Sources told The Information in June that the lack of top-tier Nvidia hardware was already weighing on R2's progress, and CEO Liang Wenfeng isn't happy with its current performance. Warning! GuruFocus has detected 5 Warning Signs with NVDA. For now, there's no release date. DeepSeek's most recent upgrade, R1-0528, is still making waves, with the company claiming it performs close to OpenAI's o3 and Google's Gemini 2.5 Pro. But the longer R2 lingers in development, the more pressure mounts in the high-stakes race to push AI models to the cutting edge. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 minutes ago
- Yahoo
Markets still expect Sept. Fed rate cut, despite hot PPI data
Even hotter-than-expected inflation data isn't rattling the market's expectation of an interest rate cut from the Federal Reserve in September. Yahoo Finance Senior Reporters Jennifer Schonberger and Allie Canal outline the latest. To watch more expert insights and analysis on the latest market action, check out more Morning Brief. What's also interesting, Jen, is we're not seeing, uh, at least fed funds futures budge that much this morning. That is not the sum total of of inflation expect of, uh, interest rate expectations, but it is a snapshot. Yeah, it is interesting that we're holding at 90% plus and above. Um, but again, I think it's almost like the market's trying to force the Fed's hand, and we do know there's volatility in these reports. So we'll have to see. We're going to get another CPI. We're going to get another PPI before September. But I think also, I'm reading this morning that you didn't just see the good side of PPI pop up, you saw the services side as well. And, uh, we heard from Chicago Fed President Austin Goolsbee yesterday, and when he talked about the CPI number, he said what concerned him about that was that services increased. So if we are seeing inflation increase, not just on the goods side, but on the services side, that's going to be concerning for the Fed. They're going to need to see more reports, right, before they make any determination on that. But if it's clear that inflation is not staying in the goods lane, and it's spilling over to services, which is what the Fed was concerned about before, we saw inflation coming down before this recent rout popping back up, then that's something to look for. Um, and Ali, you know, of course, it's not just fed funds futures. We can look across the spectrum, and we definitely saw stocks react negatively to this. Yeah, stock futures falling across the board here. And it is interesting to see those fed fund futures, uh, still hovering around that 95% when it comes to expectations for rate cuts in September, cuz normally that's correlated to what we see in the stock market. I'm looking at bond yields right now, too. And the 10-year yield is still low, hovering around 4.2%. So we're not seeing this, uh, massive recalibration of rate cut expectations, but we do have a wide range of dispersion when it comes to what Wall Street thinks is going to happen, when it comes to what actual FOMC officials think could happen. And that's because, as Jed was Jen was alluding to, the Fed is really caught between its two dual mandates. And even though we did have a better than feared CPI print, let's not forget that core services did firm up. And that's what I've been hearing from my sources is the fact that we have services inflation that's now firmer. That can offset any increases we see on the good side due to tariffs. And like you were saying, Julie, we have heard from businesses throughout this earning season that they're absorbing a lot of these costs. But from the early commentary on Wall Street, that's only going to last so long, and eventually that has to get passed on to the consumer price index and to, uh, our actual wallets. So that's something to look out for in the fall, and even into 2026, because that's what economists have been telling us. We're not going to see this tariff pass through right away. It's going to take a longer time. And I think markets got a little too excited after that CPI report the other day that maybe we won't see that impact fully materialize. I just, I just think from this hotter PPI print that might not be a reality.
Washington Post
20 minutes ago
- Washington Post
The hypocrisy of recognizing Palestine but not Taiwan
Vincent C. Chen, a telecommunications consultant, serves on the advisory boards of two Taiwan-based organizations, the Taiwan Thinktank and the Foundation for Future Generations. Many Western democracies lining up to recognize a Palestinian state are in the process of conferring legitimacy on something that, legally speaking, doesn't yet exist. Meanwhile, an economically crucial and politically functional democratic state that Western leaders have vowed to aid in case of outside aggression — Taiwan — remains unrecognized. This kind of hypocrisy invites trouble.
