Self-driving entrepreneur James Peng has hit billionaire status after the rally in Chinese tech firms buoyed stock in his robotaxi startup Pony AI. https://bloom.bg/3D8QJlL

📷: Lam Yik/Bloomberg

Elon Musk's X, formerly known as Twitter, is raising money from investors at a valuation of $44 billion — the same price Musk paid for the company in 2022. More here: https://bloom.bg/4i1pit0

📷: Francis Chung/Politico/Bloomberg

EXCLUSIVE: Malaysian officials tell Prime Minister Anwar Ibrahim to soften his Israel-Hamas rhetoric to avoid scrutiny from Donald Trump. More here: https://bloom.bg/4b4TW2s

The staffer with billionaire Elon Musk’s Department of Government Efficiency who resigned after a report that linked him to racism and eugenics has been reinstated at the Social Security Administration, according to people familiar with the move. Read more here: https://bloom.bg/41o6bE1

📷: Stefani Reynolds/Bloomberg

As Trump unleashes round two of his trade wars, an analysis of the way global commerce has rewired since his first presidency shows how Vietnam, Mexico and Canada are exposed this time around as a new era of American protectionism unfolds. Read more: https://bloom.bg/4gQ4lQU

📷: Yasufumi Saito, Christopher Udemans

Scientists at China’s Wuhan Institute of Virology recently reported the discovery of another bat-borne coronavirus, HKU5-CoV-2, which could spread in a similar way to Covid-19. Here's what to know about new strain: https://bloom.bg/3D65oy6

📷: Hector Retamal/AFP/Getty Images

Australia was unaware that Chinese warships were about to conduct live-fire exercises off its east coast until they were alerted by a Virgin Australia pilot. More here: https://bloom.bg/41v2uwp

The White House said the head of the Department of Government Efficiency — the wide-ranging federal cost-cutting initiative associated with Elon Musk — is a little-known official named Amy Gleason. More here: https://bloom.bg/41vcO7n

LATEST: Chances for early action on Donald Trump’s tax cut plans improved as House Republicans passed a budget blueprint calling for deep cuts in safety-net programs such as Medicaid. More here: https://bloom.bg/43jMu1k

The Trump administration is planning to require undocumented immigrants to join a federal registry, with potential fines, prison time and deportation for non-participation. More here: https://bloom.bg/3XjEfie

Hooters and some of its creditors are considering a potential bankruptcy plan that would see control of the brand returned to former executives and the one-time parent of the chain, according to people with knowledge of the matter. More here: https://bloom.bg/4bjudmV

🎙 Four years after Beijing’s crackdown on tech, Xi Jinping is embracing some of China’s top tech bosses again.

Find out what this means for the country’s tech titans and their US rivals on the Big Take Asia Podcast ⤵️ https://link.podtrac.com/jxfy2rhy

Exclusive: YouTube star MrBeast is looking to raise a couple hundred million dollars to expand his business in a funding round that would value his company at about $5 billion, according to people familiar with the matter: https://bloom.bg/3EYdlGn

📷: Jon Kopaloff/Getty Images for Prime Video

An alleged boardroom coup attempt, a lawsuit between a family patriarch and his son, and accusations of corporate governance lapses — even by the standards of Asian succession drama, the family feud raging at Singapore’s Kwek dynasty stands out.

City Developments, the financial hub’s biggest listed developer, plunged into crisis Wednesday when its billionaire Chairman Kwek Leng Beng, 84, accused his son, the firm’s chief executive officer, of orchestrating a boardroom coup. More here: https://bloom.bg/3CVPOFu

📷: Nicky Loh/Bloomberg
📷: Ore Huiying/Bloomberg

Bitcoin tumbles 25% from the all-time high set weeks ago as traders reverse bets that followed the election of US President Donald Trump. More here: https://bloom.bg/3EVQdIF

Hong Kong's new $4 billion Kai Tak sports park is a chance for redemption after the government lost face last year when football legend Lionel Messi failed to play in a much-hyped game, and stars such as Taylor Swift bypassed the city in their Asian tours. See what's inside: https://bloom.bg/3QDgQ7K

📷: Lam Yik/Bloomberg

Some 26 years ago, it was Renault and an aggressive, cost-cutting executive named Carlos Ghosn who pulled the Japanese carmaker back from the brink.

Now, with CEO Makoto Uchida facing a possible boardroom coup and the company in financial free fall, Nissan is looking for a new CEO and a savior company to swoop in. Read more here: https://bloom.bg/4ijUUdC

📷: Takaaki Iwabu/Bloomberg

🚨 LIVE NOW: Europe is looking to decouple from China, Russia and deepen its ties with India as global foreign policy shifts. Bloomberg reporters Sudhi Ranjan Sen, Dan Strumpf, Jorge Valero, Shruti Srivastava answer your questions in a Live Q&A. https://bloom.bg/4id1sLz

Singapore, which has an extremely high home ownership rate of over 90%, is among the world's most expensive for real estate and also has one of the most affordable housing markets. How this is possible, and why it is getting harder to sustain: https://bloom.bg/3DbY7Nr

📷: SeongJoon Cho/Bloomberg

President Donald Trump delivered on his threat to hit Canada and Mexico with sweeping import levies, imposing one of the largest increases in US tariffs since the 1930s in a dramatic escalation of a trade war that stands to upend ties with major economic partners.

Trump’s move prompted swift retaliation from Canada and China and may spur similar reprisals from Mexico — as well as potential legal challenges. Read more here: https://bloom.bg/41CqqxU

📷: Al Drago/Bloomberg

Geekvape, Lost Mary, Elf Bar and other top vape brands that have washed across store shelves from New York to London to Berlin all trace back to one man in China. Read more here: https://bloom.bg/3F4pEkx

📷: Janelle Jones for Bloomberg Businessweek