Finance news

Chinese users praise OpenAI’s GPT-5.6 for efficiency, even at higher cost than local rivals

OpenAI’s latest GPT-5.6 release marks a growing emphasis on cost-efficiency, a move welcomed by some users in China who continue to access the blocked service via virtual private networks (VPNs) and third-party proxies, even as the artificial intelligence model remains more expensive than local rivals. The launch on Thursday introduced a trio of models tailored to different capabilities, speeds and price points: the flagship Sol, the balanced Terra and the lightweight Luna. According to OpenAI,.

IEA Cuts Russia's Oil Production Forecast Due to Ukrainian Attacks

Russia's oil production in 2026 and 2027 is set to be lower than previously expected, due to intensified Ukrainian drone attacks on Russia's energy infrastructure, the International Energy Agency said in its monthly oil market report on Friday. Russia produced on average 9.2 million barrels per day (bpd) in 2025. The forecasts for this year and next, however, has been downgraded from previous projections as Ukraine continues to inflict damage on Russia's storage, refining, and transportation ass

Crisis in the auto industry: Weak market in China is slowing down German car manufacturers

Weak demand in China hits VW, BMW and Mercedes hard. Sales are falling by double digits – despite growth in Europe.

Health costs: health savings package at its destination - what's in it?

The coalition wants to curb ever-increasing health spending and avert new premium increases for millions of health insurance patients. What awaits everyone with the hotly contested reform?

Fast fashion: China approves Shein IPO after lengthy review

Shein has received the green light from Beijing to go public in Hong Kong. After failed attempts in New York and London, the way is now clear.

Schwarz Group: Christian Müller becomes sole boss of Schwarz Digits

Rolf Schumann is leaving the company with immediate effect. Müller's focus for the new phase: expansion as a European cloud alternative and a billion-dollar project in the Spreewald.

Can anyone point me to a good source on Oil?

pre MOU with iran there were reports that several places were approaching a critical level (see comments by Exon CEO, trump among others). Obviously since then there has been SOME transit of the straight but the best data Ive been able to find is that the area was able to get close to about 75% of pre war oil export levels (including pipelines). Obviously a large portion of that transit has been interrupted again, however we havent seen a spike in oil levels commensurate to what we had previousl

IPO: China approves Shein IPO after lengthy review

The fast fashion retailer waited a year for approval from China. Shein could probably aim for a valuation of 40 to 50 billion dollars in the IPO.

Using crypto to transfer USD -> EUR?

I know there are fees for deposits on crypto platforms, and I know it affects your taxes, but if I'm transferring thousands of USD to EUR might it be cheaper than Wise to just load the thousands of dollars into a crypto exchange, buy BTC, and then extract it back out as EUR right away? submitted by /u/oneiric_one [link] [comments]

Health care reform: Warken brings savings package through the Bundestag and Bundesrat

The Health Minister's controversial health insurance savings package has been approved. Warken was ultimately able to convince the states of the reform, whose approval was unclear until the end.

Health insurance savings law: A first step for the health system - but a hard-fought success for Warken

The savings for 75 million people with statutory health insurance are more than they expected in twenty years. But the real restructuring is still waiting for Minister Nina Warken. A comment.

China to head off AI-fuelled inequality by lifting salaries, narrowing pay gap

China has made income growth and the reform of its wage-distribution system a priority within broader efforts to cushion the domestic job market against the impact of artificial intelligence over the next five years. A new blueprint released by the Ministry of Human Resources and Social Security on Thursday laid out a detailed road map for the strategy, vowing to promote collective wage bargaining within the private sector, ensure steady wage growth, and tilt pay towards frontline...

US scientists use Chinese humanoid robot to carry out keyhole surgery and remove organs

US scientists have carried out keyhole surgery with a Chinese-made robot taking the place of the lead surgeon. The general-purpose humanoid robot made by Unitree Robotics was remotely controlled by two human surgeons as it successfully removed a pig’s gallbladder at the University of California San Diego (UCSD). Another robot also played a support role during the procedure, controlling the endoscope used to monitor the operation and retracting tissue. “Remotely operated and autonomous humanoid..

F.A.Z. series Get smarter quickly: Does the much talked about private school boom exist?

It has long been believed that many middle-class families would flee to private institutions in large numbers due to dissatisfaction with public schools. What actually happened.

New drone czar’s success hinges on personalities, Pentagon politics: Experts

Depending on who’s named to head the new drone-buying office, and how they handle the inevitable friction, said a former Pentagon AI chief, “it may turn out to be a master stroke … [or] it could end up looking like the F-35.”

Joint venture: Bayer gets financial injection from Apollo

The Leverkusen-based pharmaceutical and agricultural chemicals group has had high debts since the Monsanto takeover. Fresh capital is now coming from a financial investor.

Building modernization law: One bad heating law is replaced by another bad one

The Union has achieved its goal: Habeck's heating law has been abolished. However, it is questionable whether she has done herself and the country a favor.

Anwar, Anutin hit diplomatic high notes to mask Malaysia-Thailand tensions

After a rendition of My Way and a saxophone accompaniment that felt closer to crooning uncles at a wedding party than high-stakes diplomacy, Malaysian Prime Minister Anwar Ibrahim and his Thai counterpart Anutin Charnvirakul announced the serious business of squashing a damaging trade row and bringing greater security to the porous border between the nations. The pair, long-standing friends, also share a love for public spectacle, with Anutin playing the classic song popularised by Frank Sinatra

Volksbanken: “You can hardly imagine it” – trouble at Volksbanken after the Cologne brothel loan

The lobby association BVR is closely examining the processes at Volksbank Köln Bonn. In the cooperative sector, the case is seen as reputational damage - not the first in the recent past.

The next frontier of AI: how ‘world models’ are simulating reality and virtual spaces

Artificial intelligence has spent years learning to generate words, images and videos. Now, the industry’s attention is shifting towards “world models” – AI systems designed to simulate how the physical or digital world changes over time. While the term was originally associated with physics simulations and robotics, a growing number of Chinese companies are applying the concept more broadly. The technology remains in its infancy, with little consensus on what a world model should ultimately...

India’s State Nuclear Firm In Search of Global Uranium Assets

Indian state-owned NTPC Ltd, the biggest utility in the country, is looking to acquire stakes in uranium assets globally to secure fuel for the expected massive expansion of India’s nuclear power capacity. NTPC, currently the only nuclear power generator in the country, has issued a tender to hire consultants to help it identify potential uranium mines in which it could invest in uranium-producing countries, including Australia, Canada, Kazakhstan, and South Africa. Bids are due by July 16, acco

The solution to the tanker problem the US military keeps finding in Pacific wargames

[Sponsored] Simulations consistently point to the vulnerability of larger refuelers concentrated at a handful of airfields.

Car manufacturer crisis: austerity plans and falling sales: struggle for VW's future

Even after the supervisory board did not want to pass the austerity package, the board is still planning the major renovation. Meanwhile, the current sales figures are pointing sharply downwards.

People’s Daily joins Beijing blitz against Philippines over 2016 South China Sea ruling

China’s flagship Communist Party newspaper has joined a sweeping rhetorical offensive against rival maritime claimant the Philippines, days ahead of the 10th anniversary of a South China Sea arbitration ruling rejected by Beijing as “illegal”. In twin commentaries published on Friday, the People’s Daily branded the July 12 decision of 2016 a “destabilising force” and demanded that Manila pivot to direct talks. The commentaries from official media cap a multi-agency initiative from Beijing in...

AI Act: Federal Network Agency also takes over state supervision for AI

AI supervision in Germany is to be more centralized than previously planned: the federal and state governments want to pool responsibility. How the surprising agreement came about.

Why the stock market and economy may seem out of sync

The stock market has boomed on AI euphoria, while the trajectory of the U.S. economy has been more tepid, economists said.

New law: Now the “biostairs” are coming into the boiler room

The Bundestag passes the new building modernization law. The installation of new gas and oil heating systems remains permitted – subject to conditions.

Pakistan mediates between Libya's two administrations after US-Iran talks

Taiwan's top memory chip maker Nanya Tech to quadruple 2027 capex

China successfully recovers rocket at sea in push for reusable launches