Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 For years, Canada's top telecom providers rode a wave of high immigration, collectively adding hundreds of thousands of new mobile phone subscribers most quarters. Those days are over. Canada's three biggest wireless firms — BCE Inc., Rogers Communications Inc. and Telus Corp. — all cited tighter immigration rules when explaining to investors over the past two quarters why subscriber growth has slowed. The trio recorded fewer than 54,000 net new mobile subscribers in the first quarter, the lowest number in four years.

"We spend a lot of time trying to improve financial literacy. Edelman believes the problem is rooted in the fact the U.S. has never had a great tradition of encouraging smart personal finance, and he says it has never been more important to fix, given how long people are now living. That increases the risks related to running out of money later in life and creates serious questions about standard investing models for long-term financial security, such as the 60-40 stock and bond portfolio. "We are the first generation, as baby boomers, that will live long lives as part of the norm," Edelman said. You didn't have to plan for the future, because you weren't going to have one," he added. One of his biggest concerns with the current generation of young investors is that they seem to believe in get-rich-quick schemes. Many of the new investing websites have been too encouraging of risky strategies that lure young investors in, he says, promoting financial gambling rather than investing. Edelman says younger generations should be wary of a corporate America that makes consumer finance more complicated than it should be, which includes the manufacturing of overly sophisticated and expensive financial products. He also cautions young investors to make sure they are getting information about personal finance from credible sources. "When so many are getting their financial education from TikTok, that's a little scary," he said. Edelman believes the cards are stacked against young investors because of the lack of high schools mandating a course in personal finance. "The only way we discover the issues of money is through the school of hard knocks as adults, and we're over our heads when it comes to buying a car, getting a mortgage, insurance and saving for college" he said. That situation is improving for the next generations of adults. Utah was the first state to require a personal finance course for high school graduation in 2004, and the list grew to include 11 states by 2021. As of this year, 27 states now require high school students to take a semester-long personal finance course for graduation, according to Next Gen Personal Finance. Another big challenge for young investors is they often don't have a lot of money to invest, with many recent college graduates struggling to pay bills and left with little to put towards other financial goals. But there is at least one reason to be hopeful about younger Americans, Edelman says: they are highly motivated to reach financial success. "Today's youth looks at their parents and sees how poorly they were prepared for retirement. They don't want that to be their future" he said. Sign up for free newsletters and get more CNBC delivered to your inbox

As negotiations ramp up for President Donald Trump's tax agenda, there are key issues to watch, according to policy experts. The House Ways and Means Committee, which oversees taxes, released a preliminary partial text of its portion of the bill on Friday evening. The full committee will debate and advance this legislation on Tuesday. With control of the White House and both chambers of Congress, Republican lawmakers can pass Trump's package without Democratic support via a process known as "reconciliation," which bypasses the Senate filibuster with a simple majority vote. But reconciliation involves multiple steps, and the proposals must fit within a limited budget framework. That could be tricky given competing priorities, experts say. More from Personal Finance:The Fed holds interest rates steady. Here's what that means for your walletIRS loses nearly 1 in 3 tax auditors in DOGE cuts, watchdog findsWhat new Social Security head Bisignano may mean for benefits Plus, some lawmakers want a "more fiscally responsible package," which could impact individual provisions, according to Shai Akabas, vice president of economic policy for the Bipartisan Policy Center. As negotiations continue, here are some key tax proposals that could impact millions of Americans. One of Trump's goals is to fully extend the trillions in tax breaks he enacted via the Tax Cuts and Jobs Act, or TCJA, in 2017. This legislation brought sweeping changes for individuals and businesses, including lower tax brackets, bigger standard deductions, a more generous child tax credit, a higher estate and gift tax exemption and a 20% deduction for pass-through businesses, among other provisions. Without TCJA extensions, more than 60% of taxpayers could see higher taxes in 2026, according to the Tax Foundation. Some lawmakers are also pushing for bigger tax breaks than what's currently offered via the TCJA provisions. "The child tax credit is one that we're watching very closely," Akabas said. "There's a lot of bipartisan agreement on preserving and hopefully expanding that." TCJA temporarily increased the maximum child tax credit to $2,000 from $1,000 per child under age 17, and boosted eligibility. These changes are scheduled to sunset after 2025. The House in February 2024 passed a bipartisan bill to expand the child tax credit, which would have boosted access and refundability. The early House Ways and Means text proposes expanding the maximum child tax credit to $2,500 per child for four years starting in 2025. Before the change, filers who itemized tax breaks could claim an unlimited deduction for SALT. Repealing the SALT cap has been a priority for certain lawmakers from high-tax states like California, New Jersey and New York. On top of TCJA extensions, Trump has also recently renewed calls for additional tax breaks he pitched on the campaign trail, including no tax on tips, tax-free overtime pay and tax-exempt Social Security benefits. These ideas were not yet included in the early House Ways and Means text. However, there are lingering questions about the specifics of these provisions, including possible guardrails to prevent abuse, experts say. For example, you could see a questionable "reclassification of income" to qualify for no tax on tips or overtime pay, said Muresianu. "But there are ways you could mitigate the damage." Sign up for free newsletters and get more CNBC delivered to your inbox

Many people tried to predict who the new pope would be, even putting money on it. Few expected him to be an American from Chicago. Bettors poured more than $40 million into the most recent papal conclave, on just two prediction market platforms: over $30 million on Polymarket, according to its website, and over $10.6 million on Kalshi, says a company spokesperson. Going into the conclave, the new Pope Leo XIV — formerly Cardinal Robert Prevost — had odds of less than 1%, according to Kalshi's website. The identity of that bettor could not be confirmed by CNBC Make It. Prediction markets operate similarly to futures, where users buy and sell contracts that pay out based on the outcome of a future event. Large traders could potentially use such platforms to influence voter turnout on election day, Cantrell Dumas, director of derivatives policy for the advocacy group Better Markets, told CNBC on October 15. Currently, Kalshi users can bet on a variety of events, from when the video game Grand Theft Auto VI will be released to what White House press secretary Karoline Leavitt will say during her next briefing. Polymarket users can bet on similar outcomes, though U.S. users are currently barred from using the platform due to Commodities Futures Trading Commission regulations. Like with all forms of betting, wagering on prediction markets can be a slippery slope. Financial experts typically recommend that you only bet what you can afford to lose, and to avoid repeatedly doubling down after a loss. The biggest mistake to avoid: not setting a budget for yourself, Pikeville, North Carolina-based certified financial planner Jonathan Greeson told CNBC Make It on March 20. Want a new career that's higher-paying, more flexible or fulfilling? Take CNBC's new online course How to Change Careers and Be Happier at Work. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life. Learn more about the world of CNBC Make It

Not every day is a good day for Barbie, if prices for dolls in the U.S. keep rising amid President Donald Trump's tariff policy announcements. A series of household items including leggings, Barbie dolls power drills and washing machines have increased in price since Trump initially announced a sweeping set of global tariffs on April 2, according to an industry note issued by the Telsey Advisory Group on Tuesday. A Whirlpool washing machine at Lowe's went up in price by nearly $82 to $599, over the same time frame. Other notable price hikes include Girl's Cat and Jack leggings at Target, which went up by nearly a third — to $6, from $4.50 — and a Dewalt drill at Tractor Supply that rose by $20, to $179. (As of Friday afternoon, the drill is on sale for $99.) A medium Louis Vuitton Neverfull tote bag will run you $2,130 today, for example — $100 more than on April 16, Telsey noted. Some of the consumer items tracked by Telsey didn't change in price. But if higher consumer prices due to tariffs aren't yet a reality for Americans, they will be soon, said Telsey's note. "A consistent narrative across retailers and brands is that higher costs will be passed on to consumers," its authors wrote. "Many management teams are accelerating and attempting to make 'non-regrettable' decisions about the supply chain and/or product price changes." Each product tracked by Telsey was chosen based on factors like its expected longevity and connection to Chinese manufacturing. Most of the tariffs initially announced by Trump are paused until July 9, replaced instead by a 10% baseline tariff on all foreign goods — but Chinese imports currently face a levy of 145%. Many American companies that manufacture products in China have publicly discussed plans to diversify their supply chains. "Design, development, product engineering, brand management all happens in America," Barbie-maker Mattel CEO Ynon Kreiz told CNBC's "Squawk Box" on Tuesday. Trump reportedly hit back at Mattel on Thursday, threatening to place a 100% tariff on the company if it took its manufacturing "somewhere else." It's unclear how exactly such a tariff could be implemented. Previously, he indicated that consumers should simply buy fewer dolls, in response to price hikes. "I don't think that a beautiful baby girl needs — that's 11 years old — needs to have 30 dolls," Trump told NBC News' "Meet the Press" on Sunday. Want a new career that's higher-paying, more flexible or fulfilling? Take CNBC's new online course How to Change Careers and Be Happier at Work. Learn more about the world of CNBC Make It

Omar Abdullah, chief minister of Jammu & Kashmir, said on X that fighting started in the region's capital city: "air defence units in the middle of Srinagar just opened up." Indian Foreign Secretary Vikram Misri later said that Pakistan violated the truce and that his country's forces would "deal strongly" with any attacks. Information and Broadcasting Minister Attaullah Tarar told Pakistani news channel Geo that, "As of now, there have not been any ceasefire violations," Reuters reported. The initial ceasefire announcement came hours after fighting escalated on Saturday, with both nations launching continued military operations against each other. Pakistani and Indian leaders confirmed the ceasefire agreement but did not cite U.S. involvement in their initial statements. Prime Minister of Pakistan Shehbaz Sharif did, however, thank Trump for his "proactive role for peace" and the U.S. for "facilitating this outcome, which we have accepted in the interest of regional peace and stability." Indian Foreign Minister S. Jaishankar did not mention the role of the U.S. in a statement confirming the ceasefire and said that "India has consistently maintained a firm and uncompromising stance against terrorism in all its forms and manifestations." "It will continue to do so," Jaishankar wrote on X. Pakistan Foreign Minister Ishaq Dar's ceasefire announcement on X also did not mention U.S. involvement. "Pakistan has always strived for peace and security in the region, without compromising on its sovereignty and territorial integrity!" Secretary of State Marco Rubio said in a statement that Vice President JD Vance met with leaders of the two nations over the last two days and that the countries agreed "to start talks on a broad set of issues at a neutral site." Indian or Pakistani officials have not publicly confirmed that they've agreed to such talks. Jaishankar said he did speak with Rubio Saturday morning, but did not detail U.S. involvement in the ceasefire deal talks. Sign up for free newsletters and get more CNBC delivered to your inbox

Anacortes, a small coastal town in Washington state, typically bustles with tourists during the summer months. But local business owners like Kaia Matheny are bracing for less foot traffic — and a financial hit — this year as tensions around trade and concerns about immigration policy push foreigners to reconsider the U.S. as a travel destination. Matheny is the co-owner of Adrift Restaurant, a nautical themed farm-to-table eatery in downtown Anacortes. She's seen sales fall amid fewer customers from Canada, which is generally the U.S.' top source of international visitors. Air and land arrivals from Canadians fell 14% and 32%, respectively, in March compared to the same time in 2024, according to Tourism Economics. A sharp decline in foot traffic among foreign tourists looks set to persist through summer, data shows. Matheny is "wary" about what that will mean during peak season, which typically kicks off in June. Tourism "won't be what it is usually," Matheny said. Tourism is a big U.S. export: Foreign visitors spent more than $180 billion here in 2024, more than all agricultural exports combined, said Geoff Freeman, president and CEO of the U.S. Travel Association. It's not just Canada: Visits from Western Europe, Asia and South America — historically the U.S.' highest-value travel markets — are also down by double-digit percentages, according to the U.S. Travel Association. Air bookings for overseas summer travel to the U.S. are pacing about 10% behind the same time last year, according to Tourism Economics, which is affiliated with Oxford Economics. Summer bookings from Canada to the U.S. are down more than 30%, for example. The loss in international tourism is expected to cost the U.S. economy $10 billion this year compared to 2024, said Adam Sacks, president of Tourism Economics. Many businesses and destinations "count on the international visitor, in particular." The tourism pullback appears to be "more a U.S. issue right now" rather than a broad global weakness in travel, since other regions are seeing positive tourism growth, said Lorraine Sileo, senior analyst and founder of Phocuswright Research, a market research firm. Domestic tourism isn't poised to pick up the slack — the market was slowing heading into 2025 and the "revenge travel" trend, which had propelled Americans to travel due to pent-up demand after Covid-19 lockdowns, has largely been played out, she said. "I don't think it's all doom and gloom for the U.S. travel industry," Sileo said. Many factors underpin the decline in international visitors, travel experts said. Trade wars are "intrinsically combative" with the international community, Sacks said. In early April, China issued a risk alert for tourists heading to the U.S., citing deteriorating economic relations and domestic security. Several European nations also recently issued U.S. travel advisories, citing reasons such as heightened border security and potential issues around travel documents. Trump has also drawn the ire of Canadian citizens and lawmakers through repeated suggestions that Canada become the 51st U.S. state, experts said. Likewise for Greenland, which is part of Denmark. "Now is also the time to choose Canada," former Prime Minister Justin Trudeau said during a speech in February. "It might mean changing your summer vacation plans to stay here in Canada and explore the many national and provincial parks, historical sites and tourist destinations our great country has to offer," he added. Searches conducted in March and April from Canadians for travel to the U.S. dropped 50% from 2024, according to Beyond, a data provider on the global short-term rental market. That tells us travelers aren't canceling trips — they're choosing new destinations." "Proud to say we've cancelled 3 US based cruises over the next 2 years and instead will be vacationing in Europe and Canada," one Reddit commenter wrote recently. Growing concern tied to U.S. immigration policy is perhaps the most consequential development in recent months, experts said. "Whether fair or not, a perception is taking hold that more people are being detained, more devices [are] being searched and legal travelers [are] being deported back to their origin country," Freeman said. Nationally, small and mid-sized business profits have already "deteriorated sharply" amid the travel slowdown, said Aaron Terrazas, an economist at Gusto, a payroll and benefits provider. The share of "tourism" companies that are profitable fell to 32% in April 2025, down from 41% and 43% in April 2024 and 2023, respectively, according to Gusto. The share of profitable "accommodation" businesses fell to 36%, down from 44% and 45%, Gusto found. Slower customer traffic — and lost income — are the main culprits, rather than an increase in expenses from inflation or labor costs, Terrazas said. The erosion in profitability and revenue is "unusually sharp and unusually sudden, particularly for a time of year when we normally start to see travel pick up," Terrazas said. "There's no obvious reason why domestic travel would collapse so sharply and so suddenly in a single month, whereas for international travel there are more obvious explanations." Financial losses come at a time when the U.S. hasn't returned to pre-pandemic levels of travel, further pressuring businesses that rely on tourism, Freeman said. While non-residents account for less than 10% of all U.S. tourism demand, they are far more "lucrative" spenders, Freeman said. The average overseas visitor spends more than $4,000 per person per visit, eight times more than the average American tourist spends domestically, Freeman said. The average Canadian and Mexican tourist spends $1,200 per visit. Less foreign travel will have a disproportionate impact on certain areas. Las Vegas; Los Angeles; Miami; New York; Orlando, Florida; and San Francisco, for example, account for the largest share of foreign tourists, said Sweet of Oxford Economics. While New York has a large, diverse economy that can likely absorb a tourism loss without going into recession, the same probably isn't true of places like Las Vegas or Honolulu, he said. So far, Matheny, the co-owner of Adrift Restaurant, has seen monthly sales fall 4% relative to last year — not a "huge" decrease, but a "noticeable" one, she said. The restaurant has had to cut its buying by an equivalent amount, she said. Sign up for free newsletters and get more CNBC delivered to your inbox

President Donald Trump wrote on Truth Social: "After a long night of talks mediated by the United States, I am pleased to announce that India and Pakistan have agreed to a FULL AND IMMEDIATE CEASEFIRE. Congratulations to both Countries on using Common Sense and Great Intelligence. Thank you for your attention to this matter!" "I am pleased to announce the Governments of India and Pakistan have agreed to an immediate ceasefire and to start talks on a broad set of issues at a neutral site," Rubio wrote on X. India's Foreign Secretary Vikram Misri, however, said in a televised address on Saturday night that Pakistan has already violated the cease-fire, according to CNN. Attaullah Tarar, Pakistan's federal minister of information and broadcast, denied the accusations. Indian Navy Captain Raghu Nair said the cease-fire was being observed but that its army remained "vigilant to retain the sovereignty of India," BBC News reported. While the US has claimed credit for mediating the cease-fire, Western leaders were also striving this weekend to broker another one between Russia and Ukraine. The leaders of the UK, France, Germany, and Poland met with Ukrainian President Volodymyr Zelenskyy in Kyiv on Saturday and called on Russian President Vladimir Putin to agree to a 30-day ceasefire from Monday, or face more sanctions. "Russia must agree to a full and unconditional 30-day ceasefire to create the space for talks on a just and lasting peace in Ukraine," UK Prime Minister Kier Starmer posted on X.

This as-told-to essay is based on a conversation with Aleem Hossain, an associate professor of Media Arts & Culture at Occidental College. He's also a filmmaker who recently created the short film, "Do Bangladroids Dream Of Electric Tagore?" This conversation has been edited for length and clarity. I started making films in high school because I was deeply interested in telling stories that just weren't being told. I gravitate toward the stories of underrepresented folks. My films are personal — and a bit vulnerable — so it's not always easy to find funding. There's a long tradition of independent sci-fi, but it doesn't get talked about much. That's because, quite literally, sci-fi is usually imagining the world differently from how it exists today, and it takes money and resources to do that. I've found ways to fund my creative pursuits, investing personal money, running Kickstarters, and convincing stakeholders to contribute. I've made many of my short films for far less. "Do Bangladroids Dream of Electric Tagore" is my most recent short film, and it cost me just about $300. A big reason for the low cost is because I used AI. I spent a bit on subscriptions to Midjourney, an AI image generator. There's been a failed robot uprising, and the robots that survive reflect on their memories of home by reciting the poems of Rabindranath Tagore, a Bengali writer. Both of those pieces ask several interesting questions about our responsibilities to the robots we create. They're great, but those stories are largely told through a white male lens. My dad is a Muslim immigrant from Bangladesh, and my mom is a white woman born and raised in Connecticut. I grew up watching Steven Spielberg and Bollywood, and I wanted to convey that experience through my film. It's a parallel to how we live our lives these days. In this crazy, modern world, our ancestors can come from one part of the world, but we live in another. That's also true of the items we buy, and the clothes we wear, which, oftentimes, and to the surprise of many Americans, are made in Bangladesh. What if the equivalent were true, but for robots? This is a film that envisions a future in which our country is populated by robots from another country, brought here to serve — and what memories they carry of home. It asks people to reflect on how they treat others. How we worry about being oppressed, but in fact, there are ways in which we might be the oppressor. I took an AI filmmaking course from Curious Refuge, which helped me better prompt these tools. What's interesting about prompting is that it's just sort of churning. Ask for a "robot-horse" in the style of Guillermo del Toro, then try Spielberg, and see which one you like better. I used a mix of technical terms and descriptive verses in prompting. For example, I like the depth of field and spatial distortion of a 28-millimeter lens, so I often include "28-millimeter" in my prompts. I think it's a mistake for the critics of AI to say that one of the downsides of AI is that it can't be used to make great art. I think this film is pretty good. I feel a deep sense of having authored it. I came up with the story and every frame. This technology is clearly violating intellectual property.

"If you were starting whatever you're starting 20 years ago, you would have had to have built up all these different competencies inside your company, and now there are just great platforms to do it," the Meta CEO said said at the Stripe Sessions conference this week. Zuckerberg says using technologies like AI can help today's founders "focus on the core idea" of a company. "I think that this is just going to lead to much better quality stuff that gets created around the world because now you're just being able to have these, like, very small talent-dense teams that are, like, passionate about an idea," Zuckerberg said. Of course, LLMs have been known to have troubling hallucinations at times, and companies could see negative repercussions from hollowing out their mid-level engineer ranks. "Beginners can make fast progress, but it might prevent them from learning about system architecture or performance." Using AI too extensively in coding could also make scaling or debugging difficult, he warned. "Security vulnerabilities may also slip through without proper code review," he said. Y Combinator CEO Garry Tan said in a CNBC interview in March that "vibe coding" will help startups stay leaner by allowing smaller teams of engineers to produce work that would otherwise take a team of 50 to 100 developers. "I mean, the wild thing is people are getting to a million dollars to 10 million dollars a year revenue with under 10 people, and that's really never happened before in early stage venture," he said. "You can just talk to the large language models and they will code entire apps," Tan continued. "There's a new kind of coding I call 'vibe coding,' where you fully give in to the vibes, embrace exponentials, and forget that the code even exists," Karpathy wrote in his post. Shopify CEO Tobi Lütke recently told managers that before asking to hire someone new, they must prove AI couldn't do the job better alone. Pichai said using AI to code boosted the company's "productivity and efficiency." "This helps our engineers do more and move faster," Pichai said. OpenAI CEO Sam Altman said in early February that he expected software engineering would look "very different" at the end of 2025. The use of AI at large tech companies to aid, expedite, or outright do their employees' work dovetails with the industry's growing focus on efficiency in recent years. Several of its peers have also slashed thousands of jobs as they focus on flattening their organizational structures and pushing out their "lowest performers."

Can you make my brand look less American when we advertise to Brits? That was the nature of a request recently fielded by Luke Jonas, cofounder of Nest, a UK-based ad agency that specializes in helping e-commerce brands launch in the US and American companies market internationally. Jonas said Fresh Threads, a proudly American apparel brand that often features hot young things skating on boardwalks of San Diego in its marketing, is working with Nest to identify British creators it can photograph lounging in London parks and English gardens for its UK push. This move by Fresh Threads is part of a broader trend sweeping the marketing world. Rather than playing up their American roots, many are making efforts to embrace local culture when they advertise abroad as geopolitical tensions between the US and its international counterparts simmer. Jonas said Nest has also seen a big shift in the regions its clients are targeting. Over the past month, around two-thirds, or 67%, of Nest's customers who were targeting the US with their marketing have shifted to focus on other countries, with the agency assuming that skirting tariffs was a big motivator. As US tariffs threaten industries that make products ranging from toys to trucks, consumers in some countries have reacted negatively to American brands. With some international consumers going out of their way to boycott American products, companies are exploring everything from subtle rebranding to "full-fledged marketing pivots" in various countries, said Minkyung Kim, assistant professor of marketing at Carnegie Mellon University's Tepper School of Business. Kraft Heinz is a clear example of the localizing trend. After President Donald Trump made Canada one of his first targets for tariffs — and even floated the idea of annexing the country — Kraft Heinz Canada revved up its marketing response. It ran TV ads during the Canadian broadcasts of the Super Bowl and March Madness, reminding viewers that its KD mac and cheese contains Canadian wheat and cheese, that Philadelphia cream cheese is 100% Canadian dairy, and that the peanuts in Kraft peanut butter are roasted in Canada. A Kraft Heinz spokesperson said additional Canadian TV ads are airing soon. Ford last month ran a campaign with the tagline "From America. Elsewhere, the apparel brand American Giant recently sent an email to customers, reminding them its products have been "made here since 2011." On earnings calls in recent weeks, execs across corporate America representing brands from Harley-Davidson to Skechers to KFC were peppered with questions from analysts about whether they're facing pressure internationally from anti-American consumer sentiment. This was most pronounced in Northern Europe and Canada. It also found there was an increase in people saying they were going to cut back on purchasing American brands. Ian Borden, the fast-food chain's chief financial officer, said McDonald's was able to weather the storm because "our brand has been able to adapt appropriately to the kind of cultures and communities that we do business in." Coca-Cola CEO James Quincey emphasized its strategy of making global brands locally relevant. Joey Camire, CEO of the strategy and design firm Sylvain, said that while brands should always have considered localizing their marketing, it was previously expensive. The rise of AI tools to help with things like language translation and the use of influencers has helped to bring those costs down. "Strategically, it makes a lot of sense in this moment" for brands to localize where possible, he said.

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Understanding the cultural element of tech diffusion. Listen to Odd Lots on Apple PodcastsListen to Odd Lots on SpotifySubscribe to the newsletter Over the last several years, the world has watched as China edges close to or past the technological frontier in more and more areas. Earlier this year, US investors were jolted even further when DeepSeek's AI model proved to be close to the state of the art American models. So what is the process by which China actually develops new tech? Why has it worked out so well? And how do priorities set by President Xi Jinping actually get transmitted to researchers and businesses? On this episode, we speak to Kaiser Kuo, the host of the Sinica podcast. He discusses the cultural dimension of tariffs, and what he sees as a fundamentally different attitude towards the benefits of technological progress in China vs. what is seen in the US.

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Trump's Immigration Policy: Ras Baraka, the mayor of Newark, New Jersey, was released from custody Friday night following his arrest while protesting at a private detention facility that is expected to play a key role in President Donald Trump's plans for mass deportations. Three Democratic House members, Rob Menendez, Bonnie Watson Coleman and LaMonica McIver, were also at the protest but were not arrested. Baraka, 55, who spent several hours in custody, addressed supporters outside the US Department of Homeland Security office in Newark.