Latest news with #MarkMagnier
South China Morning Post
31-01-2025
- General
- South China Morning Post
Stressed US aviation system in focus as crash investigators search for clues
Robert Delaney in Washington and Mark Magnier in New York Published: 12:05am, 1 Feb 2025 Investigators and aviation experts worked overtime on Friday searching for clues to this week's deadly mid-air collision between a commercial jet and a military helicopter over Washington as attention focused on an increasingly stressed US aviation system, human error and concern the pilots involved may not have seen each other's aircraft. Political pressure in the nation's capital was mounting to identify what failed leading to the deadliest US air disaster in over two decades. US passenger traffic has exploded following the coronavirus pandemic without addressing the long hours, staff shortages and rising number of close calls hitting the air traffic control system, analysts said. Ronald Reagan Washington National Airport, where the jet was due to land, has the nation's busiest runway and is the main gateway for members of Congress, which will almost certainly add urgency to the inevitable oversight hearings and finger pointing. The early debates for aviation experts and millions of ordinary passengers alike have centred on one question: Is it safe to fly in the US? US investigators Friday were studying the black boxes recovered from American Eagle flight 5342 after it collided mid-air with a US Army Black Hawk helicopter.
South China Morning Post
28-01-2025
- Business
- South China Morning Post
DeepSeek impact on US tech stocks could alter Washington's approach: analysts
Mark Magnier in New York and Khushboo Razdan in Washington Published: 7:36am, 29 Jan 2025 The earthquake that struck US tech stocks this week over the advance of Chinese artificial intelligence start-up DeepSeek is sending shock waves beyond Wall Street and Silicon Valley, threatening to alter Washington's sanctions, export bans and 'high-fence, small-yard' scheme that has irked Beijing. On Monday, the Nasdaq Composite Index retreated more than 3 per cent, led by a sharp fall in shares of chipmaker Nvidia and other leading American tech firms before recovering partially on Tuesday as investors absorbed the news. US-China analysts were divided as to whether the developments would hasten a tech decoupling of the world's two largest economies or sow greater partnership. Bilateral collaboration 'could provide opportunities for the US to learn from China's advancements and apply those lessons domestically', according to Yilun Zhang of the Institute for China-America Studies, a Washington-based think tank, even amid a challenging political reality. 'The themes of decoupling, export controls and investment screening will likely continue to dominate US policy,' Zhang said, as they would in China, others added. The jolt hit as soon as financial markets opened on Monday and after word spread that DeepSeek had created an open-source product comparable to its US competitors for what appeared to be a fraction of the cost.
South China Morning Post
27-01-2025
- Business
- South China Morning Post
US tech stocks plunge on China AI's unexpectedly strong showing
Khushboo Razdan in Washington and Mark Magnier in New York Published: 1:53am, 28 Jan 2025 The US markets got a loud wake-up call on Monday when shares of major US artificial intelligence and semiconductor companies slumped on a wave of fear that Chinese companies were poised to surpass them in the high-stakes battle for supremacy. Analysts were divided on whether the panic selling and sentiment behind it were an overreaction or an indication that Silicon Valley has underestimated Chinese tech prowess and its ability to circumvent the many export bans and speed bumps Washington has imposed. The catalyst was Chinese AI start-up DeepSeek strong showing over the weekend overtook OpenAI's ChatGPT as the most-downloaded free app in the US on Apple 's App Store over the weekend. American semiconductor giant Nvidia 's stock price at noon on Monday, for instance, was down 21.28 per cent, having recovered from a low of 25 per cent. Broadcom, Micron Tech, Oracle, Microsoft and Alphabet, Google's parent, were all among tech companies seeing losses in morning trading. By early Monday afternoon, the Nasdaq was down 3.25 per cent, with the S&P off 1.71 per cent and the Dow up 0.04 per cent as of noon.
