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By Marc Jones LONDON (Reuters) -Global financial regulators have laid out plans for closer monitoring of artificial intelligence risks as banks and other parts of the financial industry ramp up the use of AI. Banks have been broadly optimistic that AI will make them more productive, but regulators around the world have expressed concerns about its potential impact on financial stability. The G20's risk watchdog, the Financial Stability Board, said in a report on Friday that if too many institutions end up using the same AI models and specialised hardware, this could lead to herd-like behaviour. "This heavy reliance can create vulnerabilities if there are few alternatives available," the board said. A separate study published by the central bank umbrella group, the Bank for International Settlements, added there was an "urgent need" for central banks, financial regulators and supervisory authorities to "raise their game" in relation to AI. "There is a need to upgrade their capabilities both as informed observers of the effects of technological advancements and as users of the technology itself," the BIS said. The United States, China and other countries around the world are currently racing to lead the development of revolutionary, machine-learning technologies. The FSB report said that while AI could amplify market stress, there was currently "little empirical evidence that AI-driven market correlations affect market outcomes". It added that financial institutions were also at risk of more AI-related cyberattacks and AI-driven fraud. Some regions have already taken the first steps towards regulating AI, including the European Union, whose Digital Operational Resilience Act (DORA) came into force in January. (Additional reporting by Elizabeth Howcroft; editing by Mark Potter and Mark Heinrich)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Nora Eckert STANTON, Tenn (Reuters) -Stanton, Tennessee – population 450 – welcomed a massive new neighbor a few years ago: a Ford electric-truck and joint venture battery plant slated to employ 6,000 workers. Ford’s 2022 groundbreaking triggered an influx of construction activity into the former cotton-and-soybean farmlands outside of Memphis. Hard-hatted workers filled local diners. Developers scrambled to build homes and fire stations. Stanton is quieter these days. Ford over the past 18 months repeatedly delayed phases of the project. The EV truck plant is slated to begin initial production in 2027 and start sending deliveries the next year, a timeline delayed several times from the original plan of coming online in 2025. Ford said it "will be nimble in adjusting our product launch timing to meet market needs and customer demand while targeting improved profitability." The Ford complex is part of the so-called Battery Belt, a swath of factories stretching across the U.S. heartland that spans from Georgia to Indiana. Roughly two dozen battery projects worth tens of billions in investment have been announced this decade, promising to inject tens of thousands of jobs in Republican-dominated states like Georgia and Kentucky. By last year, though, Americans’ waning enthusiasm for electric cars led automakers to delay or scrap some factory projects. Now, the additional fallout from U.S. President Donald Trump’s recent policy changes is descending on the Battery Belt. Ford CEO Jim Farley last week offered the prediction that electric-car sales could fall by around 50% following the Sept. 30 expiration of a $7,500 tax credit for buyers, echoing other gloomy forecasts for the EV market. The uncertain fate of these massive, high-tech factories and their employment has rattled the small rural communities that spent years hitching their economic futures to these projects. "That's on everybody's mind, quite frankly," said Allan Sterbinsky, who retired as mayor of Stanton in December and advocated for the site for years before Ford came to town. Some residents worry that Ford will never follow through on the plant, the former mayor says. Others hope the company will repurpose the 3,600-acre site if demand doesn't increase for EVs. A Ford spokesperson pointed to the automaker's community work in Stanton, including grants to public safety organizations as part of a broader $9 million commitment to the area.  A Reuters review of U.S. battery-investment plans shows those worries are justified. The industry appears headed toward a huge glut of factory capacity, if all those projects were to move ahead as planned.  By 2030, the planned battery plants would provide the capacity to produce 13 million to 15 million EVs annually, according to figures provided to Reuters by research firm Benchmark Intelligence. But the industry now might only need about one-quarter of that factory space. S&P Global Mobility predicts only around 3 million EVs will be produced that year, and some would likely use batteries imported from other countries. Some of that excess roughly 10 million-EV worth of battery capacity would likely be used for hybrids and extended-range EVs as well as the booming energy storage industry, but there is still a sizable gulf, said Stephanie Brinley, S&P Global Mobility automotive analyst. The demise of the $7,500 tax credit – which had been in place for more than 15 years to persuade Americans to try green cars – is only the highest profile of several anti-EV measures put forth by the Trump administration. Combined, they further jeopardize battery projects and other electric-car-related investments, experts say. In the last few months, several automakers have canceled, delayed or downsizedEV projects.  Meanwhile, a pot of tens of billions of dollars available to companies that make EV batteries domestically has tighter restrictions that will likely reduce the amount of federal money that flows to the battery sites. “All of a sudden, much of what was originally going to benefit from these credits now no longer can to a large degree,” said Jennifer Stafeil, tax auto sector lead for KPMG. Trump has said he is not anti-EV, but prefers that consumers decide what cars to buy, without government influence. He also has criticized EV-friendly regulations implemented under former President Joe Biden, which Trump has said were costly and threatened American auto jobs. One of the nation’s largest EV projects, Hyundai Motor’s $12.6 billion assembly plant and joint-venture battery factory near Savannah, Georgia, is moving ahead. Last month the project suffered a setback when federal law enforcement raided it. Hyundai has said the fallout would delay the battery plant by at least two to three months.  In the three years since Hyundai announced the megasite, 21 suppliers have opened operations near the site. "Hyundai is committed to offering a diverse product lineup, including internal combustion, hybrid, plug-in hybrid, and EV models. We understand that every customer is unique, and we strive to meet a wide range of needs," a spokesperson said.  The complex is gearing up to hire 8,500 employees by 2031, and is paying wages 25% above the county average, said Trip Tollison, president of the Savannah Economic Development Authority. Tollison acknowledged that some in the community worry about the uncertain future of the nascent EV industry that underpins all that development. He is hopeful Hyundai can flexibly shift to hybrid production if the EV market doesn’t take off. “That's how you provide opportunities like this to lift people out of poverty,” he said. (Editing by Mike Colias and Anna Driver)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

BRUSSELS (Reuters) -The European Commission is scrutinising safeguards for minors on Snapchat, YouTube, the Apple App Store and Google Play under its Digital Services Act, it said on Friday. (Reporting by Charlotte Van Campenhout, Editing by Benoit Van Overstraeten)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

BRUSSELS (Reuters) -The European Commission is scrutinising safeguards for minors on Snapchat, YouTube, the Apple App Store and Google Play under its Digital Services Act, it said on Friday. (Reporting by Charlotte Van Campenhout, Editing by Benoit Van Overstraeten)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -China has intensified enforcement of its import restrictions on U.S. chips, including Nvidia's artificial intelligence processors, the Financial Times reported, as Beijing sharpens its focus on promoting home-grown semiconductor production. Chinese customs officials were dispatched to key ports to conduct strict checks on semiconductor shipments, the newspaper said on Friday, citing unidentified sources. China customs officials did not immediately respond to a Reuters' request for comment, while an Nvidia spokesperson declined to comment on the report. The newspaper said the inspections targeted Nvidia's H20 and RTX Pro 6000D, designed to adhere to U.S. export controls, initially. The checks have been extended to include all advanced semiconductor products that breach U.S. export curbs, the report said. Reuters could not immediately verify the report. The extent to which China has access to Nvidia's world-leading chips has been a key point of friction between the U.S. and China. The Financial Times newspaper had previously reported that at least $1 billion worth of Nvidia's top AI chips were smuggled and sold in China in the three months from May. Reuters could not independently verify the report. Nvidia has a new AI chip 'RTX6000D' tailored for the Chinese market, Reuters reported last month, but it has seen only lukewarm demand with some major tech firms opting not to place orders. In August, U.S. President Donald Trump flagged the possibility of allowing Nvidia to sell more advanced chips in China. Authorities in China have previously accused Nvidia of violating anti-monopoly law. They have also ordered top tech firms to halt purchases of Nvidia's AI chips and cancel existing orders, FT reported in September. Despite advances by Huawei and other Chinese chip firms in recent years, people involved in engineering operations at Chinese tech firms say Nvidia's chips perform better. (Reporting by Ananya Palyekar in Bengaluru; Editing by Mrigank Dhaniwala, Sherry Jacob-Phillips and Subhranshu Sahu)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Nora Eckert STANTON, Tenn (Reuters) -Stanton, Tennessee – population 450 – welcomed a massive new neighbor a few years ago: a Ford electric-truck and joint venture battery plant slated to employ 6,000 workers. Ford’s 2022 groundbreaking triggered an influx of construction activity into the former cotton-and-soybean farmlands outside of Memphis. Hard-hatted workers filled local diners. Developers scrambled to build homes and fire stations. Stanton is quieter these days. Ford over the past 18 months repeatedly delayed phases of the project. The EV truck plant is slated to begin initial production in 2027 and start sending deliveries the next year, a timeline delayed several times from the original plan of coming online in 2025. Ford said it "will be nimble in adjusting our product launch timing to meet market needs and customer demand while targeting improved profitability." The Ford complex is part of the so-called Battery Belt, a swath of factories stretching across the U.S. heartland that spans from Georgia to Indiana. Roughly two dozen battery projects worth tens of billions in investment have been announced this decade, promising to inject tens of thousands of jobs in Republican-dominated states like Georgia and Kentucky. By last year, though, Americans’ waning enthusiasm for electric cars led automakers to delay or scrap some factory projects. Now, the additional fallout from U.S. President Donald Trump’s recent policy changes is descending on the Battery Belt. Ford CEO Jim Farley last week offered the prediction that electric-car sales could fall by around 50% following the Sept. 30 expiration of a $7,500 tax credit for buyers, echoing other gloomy forecasts for the EV market. The uncertain fate of these massive, high-tech factories and their employment has rattled the small rural communities that spent years hitching their economic futures to these projects. "That's on everybody's mind, quite frankly," said Allan Sterbinsky, who retired as mayor of Stanton in December and advocated for the site for years before Ford came to town. Some residents worry that Ford will never follow through on the plant, the former mayor says. Others hope the company will repurpose the 3,600-acre site if demand doesn't increase for EVs. A Ford spokesperson pointed to the automaker's community work in Stanton, including grants to public safety organizations as part of a broader $9 million commitment to the area.  A Reuters review of U.S. battery-investment plans shows those worries are justified. The industry appears headed toward a huge glut of factory capacity, if all those projects were to move ahead as planned.  By 2030, the planned battery plants would provide the capacity to produce 13 million to 15 million EVs annually, according to figures provided to Reuters by research firm Benchmark Intelligence. But the industry now might only need about one-quarter of that factory space. S&P Global Mobility predicts only around 3 million EVs will be produced that year, and some would likely use batteries imported from other countries. Some of that excess roughly 10 million-EV worth of battery capacity would likely be used for hybrids and extended-range EVs as well as the booming energy storage industry, but there is still a sizable gulf, said Stephanie Brinley, S&P Global Mobility automotive analyst. The demise of the $7,500 tax credit – which had been in place for more than 15 years to persuade Americans to try green cars – is only the highest profile of several anti-EV measures put forth by the Trump administration. Combined, they further jeopardize battery projects and other electric-car-related investments, experts say. In the last few months, several automakers have canceled, delayed or downsizedEV projects.  Meanwhile, a pot of tens of billions of dollars available to companies that make EV batteries domestically has tighter restrictions that will likely reduce the amount of federal money that flows to the battery sites. “All of a sudden, much of what was originally going to benefit from these credits now no longer can to a large degree,” said Jennifer Stafeil, tax auto sector lead for KPMG. Trump has said he is not anti-EV, but prefers that consumers decide what cars to buy, without government influence. He also has criticized EV-friendly regulations implemented under former President Joe Biden, which Trump has said were costly and threatened American auto jobs. One of the nation’s largest EV projects, Hyundai Motor’s $12.6 billion assembly plant and joint-venture battery factory near Savannah, Georgia, is moving ahead. Last month the project suffered a setback when federal law enforcement raided it. Hyundai has said the fallout would delay the battery plant by at least two to three months.  In the three years since Hyundai announced the megasite, 21 suppliers have opened operations near the site. "Hyundai is committed to offering a diverse product lineup, including internal combustion, hybrid, plug-in hybrid, and EV models. We understand that every customer is unique, and we strive to meet a wide range of needs," a spokesperson said.  The complex is gearing up to hire 8,500 employees by 2031, and is paying wages 25% above the county average, said Trip Tollison, president of the Savannah Economic Development Authority. Tollison acknowledged that some in the community worry about the uncertain future of the nascent EV industry that underpins all that development. He is hopeful Hyundai can flexibly shift to hybrid production if the EV market doesn’t take off. “That's how you provide opportunities like this to lift people out of poverty,” he said. (Editing by Mike Colias and Anna Driver)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Nora Eckert STANTON, Tenn (Reuters) -Stanton, Tennessee – population 450 – welcomed a massive new neighbor a few years ago: a Ford electric-truck and joint venture battery plant slated to employ 6,000 workers. Ford’s 2022 groundbreaking triggered an influx of construction activity into the former cotton-and-soybean farmlands outside of Memphis. Hard-hatted workers filled local diners. Developers scrambled to build homes and fire stations. Stanton is quieter these days. Ford over the past 18 months repeatedly delayed phases of the project. The EV truck plant is slated to begin initial production in 2027 and start sending deliveries the next year, a timeline delayed several times from the original plan of coming online in 2025. Ford said it "will be nimble in adjusting our product launch timing to meet market needs and customer demand while targeting improved profitability." The Ford complex is part of the so-called Battery Belt, a swath of factories stretching across the U.S. heartland that spans from Georgia to Indiana. Roughly two dozen battery projects worth tens of billions in investment have been announced this decade, promising to inject tens of thousands of jobs in Republican-dominated states like Georgia and Kentucky. By last year, though, Americans’ waning enthusiasm for electric cars led automakers to delay or scrap some factory projects. Now, the additional fallout from U.S. President Donald Trump’s recent policy changes is descending on the Battery Belt. Ford CEO Jim Farley last week offered the prediction that electric-car sales could fall by around 50% following the Sept. 30 expiration of a $7,500 tax credit for buyers, echoing other gloomy forecasts for the EV market. The uncertain fate of these massive, high-tech factories and their employment has rattled the small rural communities that spent years hitching their economic futures to these projects. "That's on everybody's mind, quite frankly," said Allan Sterbinsky, who retired as mayor of Stanton in December and advocated for the site for years before Ford came to town. Some residents worry that Ford will never follow through on the plant, the former mayor says. Others hope the company will repurpose the 3,600-acre site if demand doesn't increase for EVs. A Ford spokesperson pointed to the automaker's community work in Stanton, including grants to public safety organizations as part of a broader $9 million commitment to the area.  A Reuters review of U.S. battery-investment plans shows those worries are justified. The industry appears headed toward a huge glut of factory capacity, if all those projects were to move ahead as planned.  By 2030, the planned battery plants would provide the capacity to produce 13 million to 15 million EVs annually, according to figures provided to Reuters by research firm Benchmark Intelligence. But the industry now might only need about one-quarter of that factory space. S&P Global Mobility predicts only around 3 million EVs will be produced that year, and some would likely use batteries imported from other countries. Some of that excess roughly 10 million-EV worth of battery capacity would likely be used for hybrids and extended-range EVs as well as the booming energy storage industry, but there is still a sizable gulf, said Stephanie Brinley, S&P Global Mobility automotive analyst. The demise of the $7,500 tax credit – which had been in place for more than 15 years to persuade Americans to try green cars – is only the highest profile of several anti-EV measures put forth by the Trump administration. Combined, they further jeopardize battery projects and other electric-car-related investments, experts say. In the last few months, several automakers have canceled, delayed or downsizedEV projects.  Meanwhile, a pot of tens of billions of dollars available to companies that make EV batteries domestically has tighter restrictions that will likely reduce the amount of federal money that flows to the battery sites. “All of a sudden, much of what was originally going to benefit from these credits now no longer can to a large degree,” said Jennifer Stafeil, tax auto sector lead for KPMG. Trump has said he is not anti-EV, but prefers that consumers decide what cars to buy, without government influence. He also has criticized EV-friendly regulations implemented under former President Joe Biden, which Trump has said were costly and threatened American auto jobs. One of the nation’s largest EV projects, Hyundai Motor’s $12.6 billion assembly plant and joint-venture battery factory near Savannah, Georgia, is moving ahead. Last month the project suffered a setback when federal law enforcement raided it. Hyundai has said the fallout would delay the battery plant by at least two to three months.  In the three years since Hyundai announced the megasite, 21 suppliers have opened operations near the site. "Hyundai is committed to offering a diverse product lineup, including internal combustion, hybrid, plug-in hybrid, and EV models. We understand that every customer is unique, and we strive to meet a wide range of needs," a spokesperson said.  The complex is gearing up to hire 8,500 employees by 2031, and is paying wages 25% above the county average, said Trip Tollison, president of the Savannah Economic Development Authority. Tollison acknowledged that some in the community worry about the uncertain future of the nascent EV industry that underpins all that development. He is hopeful Hyundai can flexibly shift to hybrid production if the EV market doesn’t take off. “That's how you provide opportunities like this to lift people out of poverty,” he said. (Editing by Mike Colias and Anna Driver)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -China has intensified enforcement of its import restrictions on U.S. chips, including Nvidia's artificial intelligence processors, the Financial Times reported, as Beijing sharpens its focus on promoting home-grown semiconductor production. Chinese customs officials were dispatched to key ports to conduct strict checks on semiconductor shipments, the newspaper said on Friday, citing unidentified sources. China customs officials did not immediately respond to a Reuters' request for comment, while an Nvidia spokesperson declined to comment on the report. The newspaper said the inspections targeted Nvidia's H20 and RTX Pro 6000D, designed to adhere to U.S. export controls, initially. The checks have been extended to include all advanced semiconductor products that breach U.S. export curbs, the report said. Reuters could not immediately verify the report. The extent to which China has access to Nvidia's world-leading chips has been a key point of friction between the U.S. and China. The Financial Times newspaper had previously reported that at least $1 billion worth of Nvidia's top AI chips were smuggled and sold in China in the three months from May. Reuters could not independently verify the report. Nvidia has a new AI chip 'RTX6000D' tailored for the Chinese market, Reuters reported last month, but it has seen only lukewarm demand with some major tech firms opting not to place orders. In August, U.S. President Donald Trump flagged the possibility of allowing Nvidia to sell more advanced chips in China. Authorities in China have previously accused Nvidia of violating anti-monopoly law. They have also ordered top tech firms to halt purchases of Nvidia's AI chips and cancel existing orders, FT reported in September. Despite advances by Huawei and other Chinese chip firms in recent years, people involved in engineering operations at Chinese tech firms say Nvidia's chips perform better. (Reporting by Ananya Palyekar in Bengaluru; Editing by Mrigank Dhaniwala, Sherry Jacob-Phillips and Subhranshu Sahu)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Akash Sriram (Reuters) -Global space investment hit a record $3.5 billion in the third quarter, driven by a wider range of startups and continued defense spending, according to a report released Friday by space-focused investment firm Seraphim Space. Investments, from rocket-makers to low‑Earth‑orbit satellites, jumped from $1.79 billion in the same period last year, solidifying space as a leading growth sector in technology alongside AI. Analysts said the record quarter reflects a maturing market, with investment now spread across more companies rather than being dominated by a handful of big-ticket deals. “Historically, most of the capital in the sector was concentrated in just a couple of players, SpaceX and OneWeb,” said Lucas Bishop, investment associate at Seraphim Space. “What we’re seeing now is a far more diverse set of investable companies, signaling that space has evolved into a broader, more mature market." While hardware-focused defense tech firms such as Hadrian, Apex and Hermeus led the top deals in the U.S., China's Galactic Energy raised the most with a $336 million round last month. Funding is increasingly being driven by government efforts to build up domestic space and defense industries in the U.S., China and Europe, the report said. Analysts expect the momentum to carry into 2026 as commercial satellite networks expand and governments ramp up procurement, opening new opportunities for dual-use technologies across civilian and defense markets such as OneWeb and SpaceX's Starshield program. Public space companies have surged with Rocket Lab and Planet Labs having more than doubled, while AST SpaceMobile has more than tripled after showcasing satellite-to-phone broadband. (Reporting by Akash Sriram in Bengaluru; Editing by Tasim Zahid)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Julie Zhu and Liam Mo HONG KONG/BEIJING (Reuters) -Chinese humanoid robot maker AgiBot plans to launch an initial public offering in Hong Kong next year, eyeing a valuation of HK$40 billion to HK$50 billion ($5.14 billion to $6.4 billion), sources with knowledge of the matter said. AgiBot's listing plans, backed by investors such as Tencent and HongShan Capital Group (HSG), comes as Beijing steps up efforts to develop automation to address its aging population and bolster its position in robotics amid escalating technological competition with the United States. The Shanghai-based company appointed China International Capital Corp Ltd (CICC) and CITIC Securities earlier this year to lead its Hong Kong listing, the sources said. Morgan Stanley has joined the effort in recent weeks, two of the sources added. According to PitchBook, it reached a valuation of $2.07 billion as of March. The company is expected to issue 15%-25% of its shares, one of the sources said. AgiBot plans to file a preliminary prospectus early next year, two of the sources said, with one adding that the firm aims for a public listing by the third quarter of 2026. Details of the IPO, including its timeline, offering size and valuation are subject to change, the sources cautioned, declining to be identified as the plan is not public yet. Reuters is reporting for the first time AgiBot's listing plans, the valuation target and appointed banks. AgiBot and Morgan Stanley declined to comment. CICC and CITIC did not respond to emailed queries from Reuters. Hong Kong Exchanges and Clearing Ltd (HKEX), the city's exchange operator, declined to comment on individual companies or their transactions. ROBOTS IN VOGUE Founded in 2023 by former Huawei employees Deng Taihua and Peng Zhihui, Agibot gained prominence after Chinese President Xi Jinping inspected the company's robots during a visit to Shanghai earlier this year. The company produces humanoid robot series called Yuanzheng and Lingxi, as well as data collection tools used for model training, which it also sells externally. The company aims to deploy its humanoid robots across various sectors including manufacturing and logistics. At its data collection site in Shanghai, the company trains its robots to carry out tasks such as folding clothes, making coffee and washing toilets. In August, Agibot announced a partnership worth tens of millions of yuan with automotive parts maker Fulin Precision Engineering to deploy nearly 100 Yuanzheng robots at Fulin's factories. In the same month, the company also completed a strategic financing round with investors including LG Electronics and Mirae Asset. Chinese automaker BYD and asset manager Hillhouse Investment are also among its investors, according to corporate database Qichacha. The plan would make Agibot one of a handful of humanoid robot companies seeking to tap the capital markets, as the sector attracts dozens of new Chinese startups as well as large established firms such as home appliance maker Dreame Technology and smartphone seller Xiaomi. AgiBot's IPO would follow Ubtech Robotics, the first humanoid robot company to list in Hong Kong in late 2023. Ubtech's shares have surged 150% this year, outperforming the Hang Seng Index, which has risen 32%. Rival Unitree Robotics is targeting a valuation of up to 50 billion yuan ($7 billion) for its planned IPO on Shanghai's STAR board, Reuters reported last month. Hong Kong, fuelled by an influx of Chinese companies, has emerged as the leading global bourse by volume of IPOs and second listings combined this year, surpassing the New York Stock Exchange, according to data from LSEG. More than 270 companies have filed publicly for initial or second listings in the city as of Friday, according to the Hong Kong Exchange. Total funds raised from such offerings, predominately by Chinese companies, have reached nearly $24 billion so far this year, exceeding $11.3 billion in all of 2024, LSEG data showed. ($1 = 7.7808 Hong Kong dollars) (Reporting by Julie Zhu and Liam Mo; Editing by Brenda Goh and Jacqueline Wong)

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