
Brazil First Lady Complains to Xi About TikTok's Effects on Kids
Brazil first lady Rosangela da Silva complained to China's leader about potentially harmful effects of TikTok on women and children during an official dinner in Beijing, continuing a crusade against social media companies that has sparked controversy before.
She raised the issue after President Luiz Inacio Lula da Silva asked Xi Jinping to send someone he trusted to Brazil to discuss the regulation of TikTok, which is owned by Chinese internet firm ByteDance Ltd, and other platforms, Lula told reporters in Beijing.

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Business Insider
an hour ago
- Business Insider
‘Keep on Buying,' Says Morgan Stanley About Tesla Stock
Tesla (NASDAQ:TSLA) stock is back in focus as Elon Musk shifts gears, stepping away from political headlines and returning his attention to the company that made him a household name. Confident Investing Starts Here: The move was no doubt greeted enthusiastically by Tesla investors, who have grown frustrated with Musk's high-profile distractions since becoming Trump's 'first buddy.' But beyond the optics, Morgan Stanley analyst Adam Jonas, a longtime Tesla bull, believes there's more at stake, pointing to broader strategic implications tied to Musk's renewed commitment. 'In our view,' Jonas noted, 'Tesla's expertise in manufacturing, data collection, robotics/ physical AI, energy, supply chain and infrastructure are more critical than ever before to put the US on an even footing with China in embodied AI.' Jonas points to China's rapid progress in humanoid robotics – what he calls the 'Humanoid Olympics.' After showcasing robots running a half marathon and competing in combat sports, China is now moving toward full-on humanoid games. 'China's gamification of robotic innovation is accelerating its path to AI supremacy,' says Jonas, who wonders if the US should fight back with a 'Humanoid Ninja Warrior.' The specter of Chinese EV maker BYD looms large too. The company announced significant price reductions across its entire lineup recently – ranging from 10% to nearly 30%. Notably, the price of its budget-friendly Seagull model was slashed to just RMB 55,800 (under $8,000). 'If you want evidence of the 'race to the bottom' in global EV prices, look no further,' says Jonas. The analyst also wonders if Musk might be having a change of heart regarding one possible business venture. For years, he has dismissed the idea of Tesla building eVTOLs or drones, pointing to concerns like noise, privacy issues, public nuisance, and inadequate battery energy density. However, during a recent all-hands meeting, when asked about the possibility of making a plane, Musk paused before replying that the company is currently 'stretched pretty thin.' 'In our opinion,' says Jonas, 'that's a decidedly different type of answer. Is Tesla an aviation/defense-tech company in auto/consumer clothing?' As for the upcoming Cybercab launch, slated for June 12, as with most highly anticipated Tesla events, Jonas thinks it's best to keep a lid on expectations. That said, he'll be watching closely for ongoing updates in the following days and weeks – particularly regarding network performance and growth metrics like vehicle count, mileage, and trip volume. All in all, Jonas remains on TSLA's side, assigning an Overweight (i.e., Buy) rating with a $410 price target, implying potential upside of 18% from current levels. (To watch Jonas's track record, click here) That's a bull's take, but not one the majority of Wall Street analysts share; TSLA stock only claims a Hold consensus rating, based on a mix of 16 Buys, 10 Holds and 11 Sells. Going by the $282.70 average price target, a year from now, shares will be changing hands for an 18% discount. (See TSLA stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.


CNBC
an hour ago
- CNBC
Europe stock markets set for negative start to week after Trump doubles steel tariffs
Good morning from London, where futures data from IG suggest stock markets will nudge higher at the open — following declines in France, Germany and Italy. U.S. tariffs will be in focus yet again this week, after President Donald Trump said Friday that he will double tariffs on steel imports from 25% to 50% on June 4. The European Union criticized the move over the weekend, saying it undermines wider trade negotiations and will lead to higher costs for businesses and consumers on both sides of the Atlantic. Investors will also be monitoring any developments in trade talks between the U.S. and China, which soured last week. National Economic Council director Kevin Hassett suggested Sunday that Trump and China's President Xi Jinping could have a conversation as soon as this week. Skyline view of the City of London financial district from the viewpoint in Greenwich Park in London, United Kingdom. Mike Kemp | In Pictures | Getty Images China on Monday refuted Washington's claims that it had broken the Geneva trade agreement, instead accusing the U.S. for breaching deal terms, signaling talks between the worlds top two economies have taken a turn for the worse. Trade frictions between Washington and Beijing have flared up after a hiatus following a meeting between U.S. Treasury Secretary Scott Bessent and his Chinese counterpart He Lifeng in Geneva, Switzerland, that had led them to suspend most tariffs on each other goods for 90 days. The Trump administration has ratcheted up export restrictions on semiconductor design software and chemicals to China, while announcing it would revoke visas for Chinese students, drawing ire from Beijing. Read the full story here. —Anniek Bao

2 hours ago
China blasts US for its computer chip moves and for threatening student visas
TAIPEI, Taiwan -- China blasted the U.S. on Monday over moves it alleged harmed Chinese interests, including issuing AI chip export control guidelines, stopping the sale of chip design software to China, and planning to revoke Chinese student visas. 'These practices seriously violate the consensus' reached during trade discussions in Geneva last month, the Commerce Ministry said in a statement. That referred to a China-U.S. joint statement in which the United States and China agreed to slash their massive recent tariffs, restarting stalled trade between the world's two biggest economies. But last month's de-escalation in President Donald Trump's trade wars did nothing to resolve underlying differences between Beijing and Washington and Monday's statement showed how easily such agreements can lead to further turbulence. The deal lasts 90 days, creating time for U.S. and Chinese negotiators to reach a more substantive agreement. But the pause also leaves tariffs higher than before Trump started ramping them up last month. And businesses and investors must contend with uncertainty about whether the truce will last. U.S. Trade Representative Jamieson Greer said the U.S. agreed to drop the 145% tax Trump imposed last month to 30%. China agreed to lower its tariff rate on U.S. goods to 10% from 125%. The Commerce Ministry said China held up its end of the deal, canceling or suspending tariffs and non-tariff measures taken against the U.S. 'reciprocal tariffs' following the agreement. "The United States has unilaterally provoked new economic and trade frictions, exacerbating the uncertainty and instability of bilateral economic and trade relations,' while China has stood by its commitments, the statement said. It also threatened unspecified retaliation, saying China will 'continue to take resolute and forceful measures to safeguard its legitimate rights and interests.' And in response to recent comments by Trump, it said of the U.S.: 'Instead of reflecting on itself, it has turned the tables and unreasonably accused China of violating the consensus, which is seriously contrary to the facts.' Trump stirred further controversy Friday, saying he will no longer be nice with China on trade, declaring in a social media post that the country had broken an agreement with the United States. Hours later, Trump said in the Oval Office that he will speak with Chinese President Xi Jinping and 'hopefully we'll work that out,' while still insisting China had violated the agreement. 'The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US,' Trump posted. 'So much for being Mr. NICE GUY!' The Trump administration also stepped up the clash with China in other ways last week, announcing that it would start revoking visas for Chinese students studying in the U.S. U.S. campuses host more than 275,000 students from China. Both countries are in a race to develop advanced technologies such as artificial intelligence, with Washington seeking to curb China's access to the most advanced computer chips. China is also seeking to displace the U.S. as the leading power in the Asia-Pacific, including through gaining control over close U.S. partner and leading tech giant Taiwan.