India Open to Easing EV Rules as China's Rare Earth Curbs Bite
India is amenable to relaxing the 50% localization it expects from electric vehicle makers and suppliers in return for incentives, after China's curbs on rare earths exports put the goal in doubt, according to people familiar with the matter.
Although the Society of Indian Automobile Manufacturers is yet to make a formal plea for paring the requirement, the industry body's members have flagged the need in various consultations with the government, said the people, who asked not to be named because the discussions are private.
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Yahoo
21 minutes ago
- Yahoo
Google AI Overviews strike again following the fatal Air India crash
If you purchase an independently reviewed product or service through a link on our website, BGR may receive an affiliate commission. Google said at I/O 2025 that AI Overviews are quite popular with users, but I've always found them to be the worst kind of AI product. Google is forcing AI results on as many Google Search queries as it can just because it can. It's not because users want AI Overviews in search. The separate AI Mode is generative AI in Google Search done the right way. It's a separate tab or an intentional choice from the user to enhance their Search experience with a Gemini-powered chat. Today's Top Deals Best deals: Tech, laptops, TVs, and more sales Best Ring Video Doorbell deals Memorial Day security camera deals: Reolink's unbeatable sale has prices from $29.98 The reason I don't like the idea of AI Overviews being forced on users aggressively is their well-known problems with accuracy. We've learned the hard way that AI Overviews hallucinate badly. The glue-on-pizza incident won't be forgotten anytime soon. While Google has improved AI Overviews, the AI-powered Search results still make mistakes. The latest one concerns the fatal Air India crash from earlier this week. Some people who rushed to Google Search to find out what happened saw an AI Overview claiming that an Airbus operated by Air India crashed on Thursday, soon after takeoff. Some AI Overviews even mentioned the type of plane, an Airbus A330-243. In reality, it was a Boeing 787. I've said more than once that Google should abandon AI Overviews. The glue-on-pizza hallucinations were one thing. They were funny. Most people probably realized the AI made a mistake. But this week's hallucination is different. It spreads incorrect information about a tragic event, and that can have serious consequences. The last thing we want from genAI products is to be misled by fake news. AI Overviews do exactly that when they hallucinate. It doesn't matter if these issues are rare. One mistake like the one involving the Air India crash is enough to cause harm. Google is showing It was an Airbus aircraft that crushed today in India. how is this being allowed? byu/Economy_Shallot_9166 inartificial This isn't just about Google's reputation. Airbus could be directly impacted. Imagine investors or travelers making decisions based on that search result. Sure, they could seek out real news sources. But not everyone will bother to verify the snippet at the top of the page. Google's disclaimer that 'AI responses may include mistakes' isn't enough. Not everyone notices, or even reads, that fine print. At least Google corrected this hallucination and gave Ars Technica the following statement: As with all Search features, we rigorously make improvements and use examples like this to update our systems. This response is no longer showing. We maintain a high quality bar with all Search features, and the accuracy rate for AI Overviews is on par with other features like Featured Snippets. I'll also point out that not all AI Overviews may have listed Airbus as the crashed plane. Results can vary depending on what you ask and how you phrase it. Some users might have gotten the correct answer on the first try. We don't know how many times the Airbus detail appeared by mistake. AI Overviews might make similar mistakes on topics beyond tragic news events. We have no way of knowing how often they hallucinate, no matter what Google says about accuracy. If you've been following AI developments over the past few years, you probably have a sense of why these hallucinations happen. The AI doesn't think like a human. It might combine details from reports that mention both Airbus and Boeing, then get the facts mixed up. And it's not just AI Overviews. We've seen other genAI tools hallucinate too. Research has even shown that the most advanced ChatGPT models hallucinate more than earlier ones. That's why I always argue with ChatGPT when it fails to give me sources for its claims. But here's the big difference. You can't opt out of AI Overviews. Google has pushed this AI search experience on everyone without first ensuring the AI doesn't hallucinate. AI Mode, by contrast, is a much better use of AI in Search. It can genuinely improve the experience. I'll also add that instead of talking about AI Overviews and their hallucinations, I could be praising a different AI initiative from Google. DeepMind is using AI to predict hurricane forecasts, which could be incredibly helpful. But here we are, focusing on AI Overviews and their errors, because misleading users with AI is a serious problem. Hallucination remains an AI safety issue that nobody has solved yet. Don't Miss: Today's deals: Nintendo Switch games, $5 smart plugs, $150 Vizio soundbar, $100 Beats Pill speaker, more More Top Deals Amazon gift card deals, offers & coupons 2025: Get $2,000+ free See the
Yahoo
26 minutes ago
- Yahoo
5 top FTSE 100 stocks offering plenty of global growth for an ISA
The FTSE 100 is made up of the largest companies listed in London. But this doesn't mean that most stocks are UK-focused, far from it. In fact, it's quite straightforward to build a Stocks and Shares ISA portfolio of FTSE 100 shares that offer truly global exposure. Here are five that would certainly do the job. Let's start with the largest stock by market cap in the Footsie today: AstraZeneca (LSE: AZN). This healthcare giant has truly global operations, spanning the areas of oncology, respiratory and immunology, rare diseases, and more. This year, the firm is expected to rake in $57.5bn in revenue, with a net profit of about $14bn. And it generates this from nearly everywhere, including China and Japan. Region % of total revenue (2024) US 40% Europe 16% China 12% UK 9% Japan 6% Rest of world 17% As we can see, investors in AstraZeneca are getting diversified exposure to the whole of the developed world. The reason the US is such a sizeable part is because it has the largest healthcare system of them all. The stock has fallen 17.5% since the end of August, putting it on a forward price-to-earnings (P/E) ratio of 15.5. For a profitable firm of this calibre, which also offers a 2.3% dividend yield, I think that's very attractive. Turning to another FTSE 100 giant now, we have HSBC (LSE: HSBA). The bank is increasingly focused on Asia these days, as that's where most of the world's growth is expected to come from in future. Indeed, according to the Asian Development Bank, Asia's middle class is set to swell to roughly 3bn people by 2050. With HSBC increasingly focused on wealth management in the region, the long-term growth story looks very promising. This year, the bank is expected to earn around $23bn on revenue of almost $67bn. The stock is offering an attractive 5.8% dividend yield. The third stock is Airtel Africa. As the name implies, the firm's operations extend across Africa. Specifically, Airtel is a provider of telecommunications and mobile money services to 166m people in 14 countries in sub-Saharan Africa. The share price has been on a tear, surging 55% this year alone. However, it still looks decent value to me, trading at 12.5 times next year's forecast earnings. There's also a well-supported 2.8% dividend yield. Finally, for even more global portfolio exposure, investors could consider Coca Cola HBC and Coca-Cola Europacific Partners. These are both bottling partners for the US beverage giant, selling brands like Coca-Cola, Fanta, Sprite, and Monster. The former's markets include Western Europe and the Asia-Pacific region, including Australia, New Zealand, and the Philippines. The other's portfolio is more weighted toward emerging and developing markets, including Poland, Romania, Nigeria, and Egypt. Naturally, none of these five stocks are totally risk-free. The Coca-Cola bottlers could suffer during a severe global economic downturn, as this would put pressure on consumer spending. Meanwhile, HSBC and AstraZeneca may fall foul of regulatory changes in China, especially if trade tensions with the US worsen at some point. Finally, most of Airtel Africa's revenue is collected in local African currencies, but it's reported in US dollars, exposing the company to currency risk. Nevertheless, adding these stocks to an ISA would make it truly global, with vast exposure to Europe, America, Africa, and Asia. The post 5 top FTSE 100 stocks offering plenty of global growth for an ISA appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool HSBC Holdings is an advertising partner of Motley Fool Money. Ben McPoland has positions in AstraZeneca Plc, Coca-Cola Hbc Ag, and HSBC Holdings. The Motley Fool UK has recommended Airtel Africa Plc, AstraZeneca Plc, and HSBC Holdings. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 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
Associated Press
27 minutes ago
- Associated Press
Prime Success Responds to Sinovac Biotech's False and Misleading Claims
HONG KONG--(BUSINESS WIRE)--Jun 14, 2025-- Prime Success L.P., (together with its affiliates, 'Prime Success' or 'we'), a significant shareholder of Sinovac Biotech Ltd. (NASDAQ: SVA) ('Sinovac' or the 'Company') with ownership of approximately 8% of the Company's outstanding shares, today issued the following letter in response to the Company's recent false and misleading claims relating to the upcoming Special Meeting of Shareholders (the 'Special Meeting') scheduled for July 8, 2025. The full text of the letter is below and available at Dear fellow Sinovac shareholders, Prime Success, L.P. (together with its affiliates, 'Prime Success' or 'we'), a significant shareholder of Sinovac Biotech Ltd. (NASDAQ: SVA) ('Sinovac' or the 'Company'), continues to be disappointed by the current Board's ('1Globe Activist Board') distortion of the facts about what is at stake at the upcoming Special Meeting of Shareholders (the 'Special Meeting') scheduled for July 8, 2025. In our June 10 letter we addressed several of the 1Globe Activist Board's misstatements and are taking the opportunity to remind all shareholders why the 1Globe Activist Board cannot be trusted: 1. Prime Success is insisting that a dividend be distributed – for all shareholders The 1Globe Activist Board's false comments are just not credible – why would any investor be against receiving a dividend? The 1Globe Activist Board wants you to believe that Prime Success is the reason that dividends have not been distributed, but we are not the Company and are not on the Board, and dividend distribution decisions are not ours to make. We can only continue to advocate on behalf of all shareholders that they should be made. Under the leadership of a SAIF Partners IV L.P. ('SAIF') nominated Board — composed of seasoned professionals with proven governance experience, deep operational insight, and a track record of building real, lasting value — we are confident that the pattern of internal conflict and ongoing litigation fueled by the 1Globe Activist Board can be broken, and shareholders can look forward to more future dividends. But that will not be possible with the 1Globe Activist Board in power as they have made clear they prioritize endless litigation over the Company's long-term success. 2. The 1Globe Activist Board is deliberately baiting shareholders by setting the dividend distribution date for one day after the Special Meeting. We call upon the Company to make dividend distributionbeforethe Special Meeting The 1Globe Activist Board deliberately set the dividend date for one day after the Special Meeting which creates the false impression that shareholders must vote for the incumbents to receive the dividends. But the upcoming Special Meeting will determine the Company's future direction and the long-term interests of all shareholders. We call on the 1Globe Activist Board to allow for a fair, pro rata distribution of dividends and to move the date of the dividend distribution to before the Special Meeting so the meeting can refocus on its proper purpose: electing a competent Board. 3. The 1Globe Activist Board distorts historic facts to aggrandize 1Globe and smear legitimate investors Let's compare facts against rhetoric of the 1Globe Activist Board. Over the past seven years, what have we contributed to the Company? The critical lifeline investments from Prime Success and Vivo Capital, LLC, combined with management's determined efforts, enabled Sinovac to seize a pivotal opportunity: the development of CoronaVac. This initiative ultimately resulted in the delivery of billions of doses to over 60 countries, generating substantial revenues while saving countless lives. Without the success of CoronaVac, there would not be any sizable dividend to distribute now. In contrast, what has 1Globe done for the Company? It has initiated multi-jurisdictional litigation against Sinovac, leading to a waste of company resources. The 1Globe Activist Board's mischaracterization of 1Globe and Prime Success' relative contribution to Sinovac and its shareholders reveals its deeply partisan nature. 4. Shareholders: looking forward, it's time to focus on what truly matters – the future of your investment in Sinovac Sinovac needs a Board that will roll up its sleeves and run the business, guiding the Company forward on a stable, productive path. The slate put forward by SAIF, consisting of representatives from all shareholders owning more than 5% of the Company's equity stake, many of whom possess deep industry experience, achieves exactly that. We urge all shareholders to focus on the future and choose the leadership that will best secure our Company's success in the years to come. We look forward to continuing to make our case for change to our fellow shareholders and encourage them to wait for and read SAIF's proxy materials before voting for the Special Meeting on July 8, 2025. Sincerely, Prime Success, L.P. About Prime Success, L.P. Prime Success is an investment vehicle established by Advantech Capital specifically to invest in Sinovac and Sinovac Life Sciences; Advantech Capital is a private equity fund established in 2016 with a focus on innovation-driven growth opportunities in China. View source version on CONTACT: Media Contact Longacre Square Partners Dan Zacchei / Miller Winston [email protected] KEYWORD: ASIA PACIFIC HONG KONG INDUSTRY KEYWORD: ASSET MANAGEMENT PROFESSIONAL SERVICES FINANCE SOURCE: Prime Success L.P. Copyright Business Wire 2025. PUB: 06/14/2025 12:00 AM/DISC: 06/13/2025 11:58 PM
