A Chinese court ruled that companies cannot terminate employees just to replace them with AI systems, as authorities juggle the need to stabilize the domestic labor market with a global race to develop AI technologies.
The court decided that a tech firm in eastern China had illegally fired one of its workers after he refused to take a demotion when his job was automated by AI, according to a statement published by the Hangzhou Intermediate People’s Court.
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Ukrainian President Volodymyr Zelenskiy and Slovak Prime Minister Robert Fico agreed to continue high-level contacts despite ongoing differences over Russian energy supplies. Following a phone call on Saturday, Fico said the leaders share an interest in maintaining “good and friendly relations” between their nations.
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Seven OPEC+ countries have an agreement in principle to raise oil output targets by about 188,000 barrels per day in June, the third consecutive monthly increase, pressing on with plans despite the war and the departure of the United Arab Emirates from the group this week.
The seven members meeting on Sunday are Saudi Arabia, Iraq, Kuwait, Algeria, Kazakhstan, Russia, and Oman. With the UAE leaving, OPEC+ includes 21 members including Iran, but in recent years only the seven nations plus the UAE have been involved in monthly production decisions.
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President Donald Trump on Friday came to the The Villages in Florida, touting tax cuts for seniors that helps reduce their tax burden, one he’s cast as “no tax on Social Security,” and efforts to bring down drug costs. Trump highlighted a variety of policies geared toward older Americans, including Medicare coverage for weight-loss drugs that will start July 1.
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Brazil's central bank has banned electronic foreign exchange (eFX) providers from using stablecoins, bitcoin or other cryptocurrencies to settle overseas remittances.
Payments between an eFX provider and its foreign counterparty must move through a foreign exchange transaction or a non-resident real-denominated account in Brazil, with cryptocurrencies barred as an option.
The rule does not ban crypto trading. Investors can still buy, sell, hold and transfer cryptocurrency through authorized virtual asset service providers under Resolution BCB No. 521, which took effect February 2. Resolution 561 closes the back-end payment rail used by regulated eFX firms.
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Trump announced on Truth Social that he would increase the tariff on cars and trucks from the current 15 percent in response to the EU “not complying” with the trade deal reached by the two sides last summer at Trump's Turnberry golf course in Scotland.
In response, a spokesperson for the European Commission said the bloc was implementing the Turnberry deal “in line with standard legislative practice, keeping the U.S. administration fully informed throughout.”
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Japanese Prime Minister Sanae Takaichi delivered a landmark speech to convey her vision for deepening her nation’s economic and security ties with the Indo-Pacific, with a view to making the region more resilient in the face of geopolitical challenges.
Speaking in Hanoi after a bilateral summit on Saturday with Vietnam’s General Secretary and President To Lam, Takaichi stressed the importance of strengthening supply chains, maritime security, space development and a reliable communications infrastructure for the exchange of large amounts of data.
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The U.S. Navy just signed a $99.7 million deal with Domino Data Lab, a San Francisco-based startup, to develop AI tech that would allow its undersea minesweepers to learn about new and unseen mines in days instead of months. This new technology is intended for use in the Strait of Hormuz, one of the world's most critical shipping lanes.
The software will use multiple sensor suites, such as side-scan sonar and visual imaging systems, to monitor various other AI detection models operating in the field. This should allow operators to identify failures and push corrections as it operates, rather than sending information back to a lab and waiting for AI developers to train a new model to handle novel threats.
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Chinese EV giant BYD is rethinking plug-in hybrid packaging with its new “Heyuan” platform, introducing a layout that departs from long-established industry norms. At the core of the system is the relocation of the exhaust silencer from the rear underbody to the front engine bay, where it is integrated alongside key powertrain components.
This architectural shift frees up space at the rear of the vehicle, allowing engineers to redesign the chassis and reposition the battery pack closer to the center. The change improves weight distribution while also expanding interior and cargo capacity. In the Denza D9, the new configuration supports significantly larger battery installations than those typically seen in plug-in hybrid MPVs.
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Text has emerged revealing the Clarity Act compromise worked out between members of the Senate Banking Committee, which would allow crypto firms to keep pursuing stablecoin reward programs.
It contends that "depository institutions provide financial services that are integral to the strength of the American economy," and stablecoin issuers offering similar services "may inhibit" these institutions.
"No covered party shall, directly or indirectly, pay any form of interest on yield (whether in cash, tokens, or other consideration) to a restricted recipient — (A) solely in connection with the holding of such restricted recipient's payment stablecoins; or (B) on a payment stablecoin balance in a manner that is economically or functionally equivalent to the payment of interest or yield on an interest-bearing bank deposit."
This restriction does not apply to incentives "based on bona fide activities or bona fide transactions" that are different from yield generated by interest-bearing bank deposits, the text said, maintaining an approach to rewards that's similar to what financial firms offer on credit card activity. The restriction does apply to loyalty programs or similar efforts.
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The list of Asian stocks that benefit from business partnership with Nvidia Corp. is getting longer, as the region further integrates into the AI chip giant’s business ecosystem. Asian suppliers now account for about 90% of Nvidia’s production costs, up from roughly 65% last year.
Just in the past week, South Korea’s LG Electronics Inc., Taiwan’s Nanya Technology Corp., as well as China’s Huizhou Desay SV Automotive Co. and Pateo Connect Technology Shanghai Corp. have become the latest to rally on news of tie-ups, supply-chain participation or product collaboration with the US chip designer.
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Philippines says thousands evacuated as Mayon volcano erupts and authorities advised the public to stay out of radius danger zone. The volcanology institute issued Alert Level 3 in its five-step scale as it reported “strombolian activity and short-lived lava fountaining,” from one of the Southeast Asian nation’s most active volcanoes. It warned of landslides and lava flows.
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Approvals for about 165 onshore wind projects on private lands are being held up by the Pentagon, citing the American Clean Power Association and people close to the matter. Wind farms typically require approval to avoid radar interference, which has now faced significant setbacks.
The affected projects include wind farms that were awaiting final sign-off, others in the middle of negotiations and some that typically would not require oversight by the Pentagon.
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Japan’s prime minister is set to arrive in Australia to strengthen ties as she seeks to build on an updated regional strategy laid out in Vietnam. Sanae Takaichi is scheduled to touch down in Canberra today for the three-day visit, which will focus on defense, critical minerals and broader economic security.
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The satellite lifted off aboard a SpaceX Falcon 9 rocket from Vandenberg Space Force Base in California, reaching low Earth orbit.
“Our expansion in the space domain has proceeded at record pace. We now have a national capability and our own systems in place in space," — said Anders Sundeman, the Swedish Armed Forces’ space commander.
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The move comes after the UAE announced its exit from OPEC and OPEC+. The UAE's departure from OAPEC marks another step in the country's shift away from multilateral oil production frameworks.
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