Latest Developments

China / Asia
South China Morning Post

Bangladesh faces further measles risk due to lack of vaccinations, travel

Biman MukherjiPublished: 10:10pm, 2 Jun 2026The measles outbreak in Bangladesh is one of its deadliest health crises in decades, as experts warned that the lack of measures to increase vaccinations and enhance immunisation across the country could lead to a further spike in cases.There were over 60,000 suspected cases of measles, and nearly 600 people have died from the disease since mid-March, according to media reports. The outbreak has been particularly severe among malnourished children and communities with limited access to health services. Local health officials have partnered with their UN counterparts to launch an emergency response to combat measles. However, gaps in vaccination coverage, with an interim administration in power until February, have raised concerns that the disease could spread further. Health experts say the surge is due to local authorities not prioritising the elimination of measles, with the highly contagious disease largely preventable through two vaccine doses as recommended by the World Health Organization. According to a report on the measles situation in Bangladesh by the WHO in April, the disease can affect individuals of all ages and is a leading cause of death among young children around the world. A usually “mild or moderately severe disease”, measles could, however, cause complications such as pneumonia, diarrhoea, blindness, and death, the WHO said.

Bangladesh faces further measles risk due to lack of vaccinations, travel
China / Asia
South China Morning Post

Can China’s caesium-from-brine tech cut reliance on Canadian, Australian ores?

Zhang Tongin BeijingPublished: 10:00pm, 2 Jun 2026Updated: 10:08pm, 2 Jun 2026Chinese researchers have developed an environmentally friendly method to extract caesium from brine, a process they say could boost China’s supply of the strategic resource. Caesium, a rare metal, is a critical strategic resource used in satellite atomic clocks, missile thermal imaging sensors and advanced speciality glass. China and the United States are the top consumers of caesium, yet both rely heavily on imports. It is primarily found in the Earth’s crustal ores as well as salt lake brines and seawater. Known commercial deposits include the Tanco mine in Canada, the Bikita mine in Zimbabwe, the Karibib project in Namibia and the Sinclair deposit in Australia. China’s state-owned Sinomine Resources controls the Tanco and Bikita operations but domestic caesium reserves – while considerable – are mostly locked in brine that is difficult to process. Only a fraction exist as caesium ores, and most are low-grade associated minerals. The caesium present in salt lake brine poses two major challenges: its concentration is relatively low, and the brine contains high levels of sodium, potassium, magnesium, calcium and rubidium ions, which interfere with caesium separation. A team led by Zhou Yongquan of the Qinghai Institute of Salt Lakes, Chinese Academy of Sciences, has proposed a stable and efficient method to extract caesium from salt lakes, a breakthrough that could help diversify China’s industrial supply chain. The team’s findings have been published in the peer-reviewed Chemical Engineering Journal. The team developed a sieve-like mechanism to trap caesium, creating a material that selectively acts like a magnet for caesium ions. When brine is passed through a column packed with this material, caesium ions are “sieved” out. Moreover, the material can be repeatedly reused.

Can China’s caesium-from-brine tech cut reliance on Canadian, Australian ores?
China / Asia
South China Morning Post

Summer campaign to mark 50th anniversary of international dragon boat races

Kristen CheungPublished: 9:41pm, 2 Jun 2026The Hong Kong Tourism Board will launch a 13-day summer campaign featuring citywide discounts and events to mark the 50th anniversary of the international dragon boat races at the Tsim Sha Tsui waterfront, in a bid to attract more overnight visitors. To welcome the summer travel season, the board announced on Tuesday that its “Hong Kong Summer Fun” campaign would open with the Sun Life Hong Kong International Dragon Boat Races, running from June 19 to July 1. The board’s chairman, Peter Lam Kin-ngok, said the promotion would leverage mega-events to boost peak summer tourism. “We aim to attract more overnight visitors to Hong Kong and boost consumption across more sectors,” he said. The programme will feature cultural workshops, traditional performances and a food lane at Salisbury Garden and along the Avenue of Stars. Visitors can also experience interactive attractions, including themed photo spots, virtual-reality dragon boat paddling and a dedicated race broadcast zone.

Summer campaign to mark 50th anniversary of international dragon boat races
Europe
BBC Business

AI giant Anthropic plans to sell shares in US as valuation nears $1tn

Artificial intelligence (AI) firm Anthropic has revealed its plans to go public in the US, a move which would allow people to buy and sell its shares on the stock market. The company behind chatbot Claude said on Monday it had filed paperwork with the US authorities in order to make an initial public offering (IPO) this year. Anthropic said the price and number of shares to be offered "have not yet been set". The firm's stock market plans, coming alongside those of Elon Musk's SpaceX, is set to show whether investor appetite matches the soaring valuations of AI companies. Anthropic, founded just five years ago, recently raised money from private investors that valued the company at more than $965bn (£717bn), ahead of OpenAI's most recent valuation of $852bn. Anthropic chief executive Dario Amodei created the firm after leaving OpenAI, where he had worked for several years, over disagreements with its chief executive Sam Altman. The two firms have since become fierce rivals in the AI world, developing similar technology and fighting for the attention and spending of users and corporate customers. Altman told CNBC on Monday that, while his company did intend to go public, it was in no rush to do so. Should OpenAI's listing happen, the US capital markets are poised to see an historic level of investment in just a handful of companies. SpaceX alone is expected to break stock market records with its target valuation, but the potential value of Anthropic and OpenAI are not far behind. Meanwhile, Google's owner Alphabet has revealed plans to raise $80bn to spend on AI. Matt Britzman, senior equity analyst at Hargreaves Lansdown, said the announcement was "a clear sign that the AI arms race is moving into a more capital-hungry phase".

AI giant Anthropic plans to sell shares in US as valuation nears $1tn
North America
CNBC

Audemars Piguet's watch prices remain stable after controversial Swatch collab

When the famed luxury watch brand Audemars Piguet announced a collaboration with Swatch last month, some Audemars collectors feared the worst. Rapper DDG said he would sell his $180,000 Audemars Piguet if the collaboration grew too big and cheapened the brand. Members of the self-appointed horology community warned that one of the "Holy Trinity" of watch brands, famed for innovative complications, or features, and designs, had gone plastic. Yet a few weeks after the launch of the AP-Swatch Royal Pop collection, AP prices have held steady on the secondary market. Despite predictions of a collapse in Audemars Piguet's brand value and exclusivity, experts say AP is still AP. "There has been no discernible impact on AP prices from the launch," said Hamza Masood, head of partnerships at WatchCharts, which tracks secondary values for all major AP models. It's early, of course, but Masood said Royal Pop, the collection of brightly colored watches on lanyards, is part of AP's longer-term strategy of attracting the next generation of collectors. AP's signature Royal Oak watches typically retail for more than $50,000 and have a multiyear waiting list. Royal Pop makes the brand accessible to younger buyers and more women. "Fundamentally, everybody recognizes that this does not really eat into AP equity in any real, meaningful way," Masood said. "The product is not diluting the Royal Oak collector experience, because it's not even designed to be a wristwatch." After a speculative bubble in luxury watches during the pandemic, the luxury watch market plunged in 2022 and is only now starting to stabilize. WatchCharts' AP Index — comprising the top 30 models from the brand — is down about 40% from its peak in 2022. Rolex and Patek Philippe, the other two of the "Big Three" luxury watchmakers, are also down from their peaks. In the first quarter, AP's secondary prices were up 2%, compared with an increase of 1.7% for Rolex and 3% for Patek, according to WatchCharts. AP's inventory is aging more than that of its peers, suggesting a larger mismatch between demand and supply. "AP has [so far] not seen the same level of market recovery as the other two members of the Big Three," Masood said. Still, he said the Royal Pop gave AP something even money can rarely buy: cultural buzz on social media and digital news. The burst of attention will spark interest among teens and 20-somethings, who one day will be able to afford a Royal Oak.

Audemars Piguet's watch prices remain stable after controversial Swatch collab
Europe
BBC Business

Post Office scandal victim dedicates OBE to 'sub-postmasters we have lost'

Betty Brown, the oldest surviving victim of the Post Office Horizon IT scandal, will receive an OBE at Windsor Castle today. Brown was one of hundreds of sub-postmasters wrongly accused of stealing, and was forced out of her County Durham branch in 2003 - despite her and her late husband spending more than £50,000 of their savings to make good on losses which didn't exist. The award "won't be a Betty Brown medal," the former sub-postmaster said, but will be for "all the sub postmasters that we have lost". The Horizon IT system was responsible for more than 900 sub-postmasters being wrongfully prosecuted because of it providing incorrect information. Thousands were forced to make up for the alleged losses at their branches across the UK. More than a billion pounds has been paid out in compensation to victims of the scandal, according to the government. Some shoppers have been trying to resell a new line of watches priced at £335 each for up to £16,000. BBC UK editor Ed Thomas confronts a shopkeeper secretly filmed selling cannabis and cocaine to one of our researchers. The BBC's Emma Simpson explains why fizzy drinks, salad and meat could be affected by the Gulf conflict. From fuel to mortgages, the BBC looks at how oil and gas prices could push up the cost of living. Emma Soames rejected Nigel Farage's statement that the currency change was "wokery". The Bank governor criticised emails between Peter Mandelson and Jeffrey Epstein during the financial crisis. In the lead up to the Chancellor delivering her Budget, the Office for Budget Responsibility published their report early in error.

Post Office scandal victim dedicates OBE to 'sub-postmasters we have lost'
Europe
BBC Business

Steph Curry signs with Chinese brand after Under Armour split

Golden State Warriors superstar Stephen Curry says he has signed an endorsement deal with Chinese sportswear giant Li-Ning. The 38-year-old has been free to sign with a retail partner for his line of shoes and sports wear since ending a 12-year deal with US activewear firm Under Armour last year. Curry and Li-Ning will collaborate on new products and on plans to launch his signature chain of shops in the US and China. The value of the deal was not immediately disclosed. Signing Curry marks a major step in Li-Ning's push to become an international brand, alongside other Chinese sportswear labels like Anta. The partnership is a "landmark victory" for Li-Ning, showing that Chinese sportswear brands can compete with global giants like Nike and Adidas to sign top players, said Linda Yu from marketing agency Red Ant Asia. Endorsement deals are the "lifeline of sportswear brands" and a name like Steph Curry can help Li-Ning to establish itself in markets like the US, Yu said. In a video posted on his business website Thirty Ink, Curry said the partnership will help Li-Ning expand in the US. It has more than 7,000 shops across Asia. Li-Ning told the BBC it will work with Curry to promote sports culture as well as develop products across a range of categories, starting with golf and basketball. The deal is Curry's first collaboration with a Chinese brand. He partnered with Nike at the start of his career before moving to Under Armour. He joins a growing list of NBA stars that have signed with Chinese brands, including Dwayne Wade and Jimmy Butler with Li-Ning and Klay Thompson and Kyrie Irving, who are partnered with Anta. Anta, which used to make shoes for international brands, has led a global push by buying the rights to Western firms like Fila. This year, it also bought a key stake in Puma, pledging to help the firm grow in China. Many Western brands have been keen to gain a foothold in China, but face intense competition from local manufacturers offering cheaper goods. Demand in China has also slowed due to low domestic spending.

Steph Curry signs with Chinese brand after Under Armour split
North America
CNBC

UAW union strike threatens General Motors truck production

DETROIT — Nearly 1,000 workers at a Michigan supplier plant that makes parts for General Motors pickup trucks went on strike Monday after not reaching a new contract with the company. The United Auto Workers union on Monday confirmed workers at an axle and components plant in Three Rivers, Michigan, for Dauch Corp. — formerly known as American Axle and Manufacturing — walked out of the factory and onto picket lines at 12:01 a.m. ET Monday. The union did not release a full list of demands, but said in a press release Sunday night that workers are still trying to regain wages lost during the Great Recession. "We'll stay out on strike until this company comes to its senses," UAW President Shawn Fain said during a Sunday video announcement. "The full force of the UAW international union will be standing with these workers. So, American Axle, time is up. No contract, no axles." The union said longtime workers who were making as much as $29 an hour saw their wages slashed to $14.50 in 2008. Current wages top out at $22 an hour after a five-year progression, the union said. A spokesman for Dauch in an emailed statement called the strike "disappointing." He did not immediately respond to a question about bargaining details. "The company believes that the best outcomes for everyone — our associates, the union, and the company — are reached at the bargaining table. We remain committed to negotiating with the union in good faith and hope to promptly reach a fair agreement," the company statement read. Jon Krause, a 32-year American Axle employee and member of the bargaining committee for UAW Local 2093, which represents the striking workers, told CNBC that in addition to wage increases, the workers also are bargaining for improvements in healthcare benefits, retirement and other work-related issues. "We just want the company to step up and give our members a livable wage, something that they've earned, something that they deserve," Krause said. "This local, when the company was sinking 18 years ago, kept them above water, and it's time to return that favor." Krause said the union believes that GM appears to have about two weeks' worth of axles in stock. A spokesman for GM said the automaker "is closely monitoring the situation" and "assessing any potential impact." As of Monday, production at GM's plants was operating as usual. The impacted plant produces axles for GM's Chevrolet Colorado and GMC Canyon midsize pickup trucks as well as its heavy-duty Chevrolet Silverado and GMC Sierra pickups. Other production includes smaller components for the Detroit automaker's light-duty Silverado and Sierra pickups as well as parts of Stellantis' Chrysler Pacifica minivan, a union spokesman confirmed.

UAW union strike threatens General Motors truck production
Europe
BBC Business

How 'confused' AI rollout hurts firms and baffles staff

When AI engineer Malcolm was working at a data analysis firm, executives wanted to use generative AI to categorise the customer database into a range of personas. A traditional machine learning model would have been much more appropriate, he argued, producing consistent, repeatable results. And it would have been much cheaper. "They still went ahead with Gen AI," says Malcolm (we have not used his real name). That meant a process that was less accurate and much more expensive, but it also allowed the organisation to say they were embracing AI. Malcolm's experience will be familiar to staff at other companies. More bosses are embracing AI and insisting their staff use it. In February, global consultancy Accenture reportedly told staff that promotions to top roles would require "regular adoption of AI tooling" and it would be tracking their usage of the AI platform it has developed. And in May, rival firm KPMG said it had developed a dashboard to track whether its US employees' meet a 75% usage target for its AI tools. The company says this is part of "a holistic effort… to help people move up the AI maturity curve." Other organisations are taking a less targeted approach to implementing AI but nevertheless expect it to transform how their workforces spend their days. The UK government is banking on AI to help "rewire" the state and boost efficiency across Whitehall. However, research by the civil servant union, the FDA, shows that while civil servants were open to the idea of using AI to improve productivity, there's doubt that management can handle the transformation. Less than a third of civil servants had been consulted on how the technology could be rolled out, the union found, meaning "change is being done to workers, not with them".

How 'confused' AI rollout hurts firms and baffles staff