Topic
us firms
Technology Beijing Accuses US AI Firms of Using Chinese Models for Training
The Chinese commerce ministry accused US artificial intelligence firms of using Chinese models to train their own AI systems through a process called distillation. This comes after US Treasury Secretary Scott Bessent threatened sanctions against China over alleged technology theft. China defended distillation as a widely used industry practice and vowed to take all necessary measures to safeguard its interests.
Commodities US firms sign $60 billion Iraq deals to expand oil exports beyond Strait of Hormuz
US companies signed roughly $60 billion in agreements with the Iraqi government on Friday, including deals to develop alternative oil export routes beyond the Strait of Hormuz. The agreements come amid the US-Iran war that has disrupted Hormuz shipments and caused oil price volatility. Chevron signed three agreements focused on boosting production and building a new pipeline. Goldman Sachs estimated pipelines could carry 60% of current Hormuz oil by 2028.
Logistics US Firms Sue Container Makers Over Alleged Price-Fixing Scheme Impacting Global Dry Container Market
Two US companies have sued container manufacturers Singamas, CIMC, and CXIC Group over alleged price-fixing that doubled container prices and increased profits 100x between 2019 and 2021. The lawsuits follow a DOJ indictment and seek damages for inflated shipping costs.