An alleged Myanmar crime boss and members of his syndicate were put on trial this week in the latest stage of Beijing’s sweeping crackdown on cross-border scam networks. Wei Huairen , also known as Wai San, faces charges including fraud, murder, extortion and organising illegal border crossings, Chinese state broadcaster CCTV reported on Friday. Prosecutors allege that from 2019 onwards, the syndi...
An alleged Myanmar crime boss and members of his syndicate were put on trial this week in the latest stage of Beijing’s sweeping crackdown on cross-border scam networks. Wei Huairen , also known as Wai San, faces charges including fraud, murder, extortion and organising illegal border crossings, Chinese state broadcaster CCTV reported on Friday. Prosecutors allege that from 2019 onwards, the syndicate used the Wei family’s military and political influence in Myanmar’s Kokang region to operate multiple scam compounds that defrauded victims in China of more than 24 billion yuan (US$3.5 billion). Two Chinese citizens are also alleged to have been killed. Advertisement The syndicate is also said to have offered armed protection to “investors” who ran telecoms fraud operations from these compounds, according to the report. Prosecutors also allege that Chen Dawei, Wei’s nephew, was involved in the two murders, among other crimes. Three other suspects, Liao Jingfang, Kang Min and Xiong Hengxing, have also been charged with a range of offences. Advertisement The trial at Quanzhou Intermediate People’s Court in the southeastern province of Fujian ran from Tuesday to Friday. The court has now adjourned and it is not known when it will deliver its verdicts.
Attendees near a Nvidia sign during the Dell Technologies World Annual Convention event in Las Vegas, Nevada, US, on Monday, May 18, 2026. Dell Technologies Inc. said it added 1,000 customers for a key AI product line in the past quarter as the company tries to capture business from traditional large businesses taking on new artificial intelligence workloads. Photographer: Ian Maule/Bloomberg
Attendees near a Nvidia sign during the Dell Technologies World Annual Convention event in Las Vegas, Nevada, US, on Monday, May 18, 2026. Dell Technologies Inc. said it added 1,000 customers for a key AI product line in the past quarter as the company tries to capture business from traditional large businesses taking on new artificial intelligence workloads. Photographer: Ian Maule/Bloomberg
Roughly a decade ago, Chinese-manufactured electric vehicles (EVs) often found themselves the butt of jokes. Many people failed to realize the sleeping giant that was awakening overseas as government subsidies and forced joint ventures helped a plethora of Chinese automakers catch up to the world in EVs scarily quickly. BYD (BYDDY +0.00%), China's juggernaut EV maker, was magician-like for its abi...
Roughly a decade ago, Chinese-manufactured electric vehicles (EVs) often found themselves the butt of jokes. Many people failed to realize the sleeping giant that was awakening overseas as government subsidies and forced joint ventures helped a plethora of Chinese automakers catch up to the world in EVs scarily quickly. BYD (BYDDY +0.00%), China's juggernaut EV maker, was magician-like for its ability to surge globally and overtake Tesla (TSLA +0.19%) in global EV sales last year. To be fair, Tesla is punching back and topped BYD during the first quarter of 2026. For BYD's next magic trick, it's adjusting to the Iran conflict, and surprisingly finding itself thriving. From here to there One thing many investors might not realize is that the Middle East has been a critical market for Chinese automakers. That's partly because well-known Detroit automakers such as Ford Motor Company and General Motors have long had a presence in the region. But it isn't the profit engine for the two rivals and doesn't receive as much notoriety. The story is a bit different for the Chinese, who targeted the Middle East as the first overseas market when Chery shipped a small number of vehicles into Syria roughly a quarter-century ago. That business boomed and is still booming. Last year, China shipped about 1.4 million vehicles into the Middle East, up an impressive 41% from the prior year. That volume generated 16% of China's total vehicle exports, according to the China Passenger Car Association. Then the Iran conflict, distribution complications, and rising oil prices stoking demand elsewhere in the world combined to put the brakes on China's deliveries to the Middle East. In fact, China's vehicle shipments to the Middle East spiraled 60% lower in March after the Strait of Hormuz was closed. A quick pivot Then something interesting happened. Some Chinese automakers, such as BYD, turned their focus to exporting to other regions and found massive success. China's plunging shipments to t...
Key Points The Iran conflict means near-term disruption in the region for some, and long-term threats for others because of rising oil prices. Despite the disruption, BYD was able to quickly pivot and send its valuable inventory elsewhere. After seeing rising demand in other parts of the world, BYD raised its export guidance for 2026 from 1.3 million vehicles to 1.5 million. 10 stocks we like bett...
Key Points The Iran conflict means near-term disruption in the region for some, and long-term threats for others because of rising oil prices. Despite the disruption, BYD was able to quickly pivot and send its valuable inventory elsewhere. After seeing rising demand in other parts of the world, BYD raised its export guidance for 2026 from 1.3 million vehicles to 1.5 million. 10 stocks we like better than BYD Company › Roughly a decade ago, Chinese-manufactured electric vehicles (EVs) often found themselves the butt of jokes. Many people failed to realize the sleeping giant that was awakening overseas as government subsidies and forced joint ventures helped a plethora of Chinese automakers catch up to the world in EVs scarily quickly. BYD (OTC: BYDDY), China's juggernaut EV maker, was magician-like for its ability to surge globally and overtake Tesla (NASDAQ: TSLA) in global EV sales last year. To be fair, Tesla is punching back and topped BYD during the first quarter of 2026. For BYD's next magic trick, it's adjusting to the Iran conflict, and surprisingly finding itself thriving. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » From here to there One thing many investors might not realize is that the Middle East has been a critical market for Chinese automakers. That's partly because well-known Detroit automakers such as Ford Motor Company and General Motors have long had a presence in the region. But it isn't the profit engine for the two rivals and doesn't receive as much notoriety. The story is a bit different for the Chinese, who targeted the Middle East as the first overseas market when Chery shipped a small number of vehicles into Syria roughly a quarter-century ago. That business boomed and is still booming. Last year, China shipped about 1.4 million vehicles into the Middle East, up an imp...
The first quarter of 2026 was the first in which Warren Buffett no longer made the big investment decisions at Berkshire Hathaway (BRKA 0.34%) (BRKB 0.19%). Rather, Buffett handed the reins to Greg Abel, who is not only in charge of Berkshire's operating businesses but will also make investment decisions over stock picks. Amid just two new purchases in the first quarter, the largest was Delta Air ...
The first quarter of 2026 was the first in which Warren Buffett no longer made the big investment decisions at Berkshire Hathaway (BRKA 0.34%) (BRKB 0.19%). Rather, Buffett handed the reins to Greg Abel, who is not only in charge of Berkshire's operating businesses but will also make investment decisions over stock picks. Amid just two new purchases in the first quarter, the largest was Delta Air Lines (DAL +2.10%), for which Abel established a $2.65 billion position, or roughly a 1% allocation to Berkshire's portfolio. The first quarter of 2026 saw the U.S. go to war with Iran, triggering an oil price spike, which doesn't exactly seem like a good environment in which to buy airline stocks. However, high jet fuel prices were ironically likely the very reason Abel bought Delta. Here's why. Expand NYSE : DAL Delta Air Lines Today's Change ( 2.10 %) $ 1.56 Current Price $ 75.68 Key Data Points Market Cap $50B Day's Range $ 72.64 - $ 75.69 52wk Range $ 45.28 - $ 76.39 Volume 209 Avg Vol 11.5M Gross Margin 16.93 % Dividend Yield 0.99 % Why Delta traded at a discount in Q1 The Iran war began on Feb. 28, and shortly thereafter, Iran threatened the traffic going through the Strait of Hormuz, through which 20% of the world's oil and gas flows. In response, jet fuel prices nearly doubled in the quarter. Higher fuel prices are very problematic for airlines. Planes have to fly no matter what, so higher fuel prices increase costs. If an airline increases prices to offset those costs, it risks destroying demand. But flights have to fly anyway, even if they aren't full, and less-full planes can destroy margins. Unsurprisingly, the outbreak of war led to a decline in airline stocks, starting in February during the lead-up to the war, and then through March following the outbreak of hostilities. Berkshire likely scooped up shares of Delta amid these declines. Delta has a competitive advantage in trying times While all major airline stocks have fallen this year, Delta has declined le...
Broadcom Inc. (NASDAQ:AVGO) is one of the best stocks to buy according to Goldman Sachs’ Conviction List. Goldman added Broadcom to its U.S. Conviction List on January 5, alongside Dick’s Sporting Goods, while removing Capital One, Cadence Design Systems, and Houlihan Lokey. Goldman’s list is meant to highlight 20 to 25 differentiated Buy-rated U.S. ideas, and its Broadcom call was tied to the com...
Broadcom Inc. (NASDAQ:AVGO) is one of the best stocks to buy according to Goldman Sachs’ Conviction List. Goldman added Broadcom to its U.S. Conviction List on January 5, alongside Dick’s Sporting Goods, while removing Capital One, Cadence Design Systems, and Houlihan Lokey. Goldman’s list is meant to highlight 20 to 25 differentiated Buy-rated U.S. ideas, and its Broadcom call was tied to the company’s position in enterprise networking silicon and its expected share gains in custom silicon processors for major hyperscalers. The AI infrastructure case has only grown larger since then. On March 4, Broadcom reported record fiscal Q1 2026 revenue of $19.3 billion, up 29% year-over-year, while AI revenue rose 106% to $8.4 billion. The company guided for Q2 revenue of about $22.0 billion and AI semiconductor revenue of $10.7 billion. Reuters also reported that CEO Hock Tan said Broadcom had a line of sight to more than $100 billion in AI chip revenue in 2027, helped by custom-chip demand from large technology customers. Why Broadcom (AVGO) Remains One of Goldman’s Strongest AI Infrastructure Bets The software side is also being pulled into the AI infrastructure story. On May 5, Broadcom announced VMware Cloud Foundation 9.1, positioning it as a private-cloud platform for production AI workloads, with support across AMD, Intel, and NVIDIA hardware. Broadcom Inc. (NASDAQ:AVGO) designs, develops, and supplies semiconductors and infrastructure software for global organizations’ complex, mission-critical needs. While we acknowledge the potential of AVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. Disclosure: None....
Broadcom Inc. (NASDAQ:AVGO) is one of the best stocks to buy according to Goldman Sachs’ Conviction List. Goldman added Broadcom to its U.S. Conviction List on January 5, alongside Dick’s Sporting Goods, while removing Capital One, Cadence Design Systems, and Houlihan Lokey. Goldman’s list is meant to highlight 20 to 25 differentiated Buy-rated U.S. ideas, and its Broadcom call was tied to the com...
Broadcom Inc. (NASDAQ:AVGO) is one of the best stocks to buy according to Goldman Sachs’ Conviction List. Goldman added Broadcom to its U.S. Conviction List on January 5, alongside Dick’s Sporting Goods, while removing Capital One, Cadence Design Systems, and Houlihan Lokey. Goldman’s list is meant to highlight 20 to 25 differentiated Buy-rated U.S. ideas, and its Broadcom call was tied to the company’s position in enterprise networking silicon and its expected share gains in custom silicon processors for major hyperscalers. The AI infrastructure case has only grown larger since then. On March 4, Broadcom reported record fiscal Q1 2026 revenue of $19.3 billion, up 29% year-over-year, while AI revenue rose 106% to $8.4 billion. The company guided for Q2 revenue of about $22.0 billion and AI semiconductor revenue of $10.7 billion. Reuters also reported that CEO Hock Tan said Broadcom had a line of sight to more than $100 billion in AI chip revenue in 2027, helped by custom-chip demand from large technology customers. Why Broadcom (AVGO) Remains One of Goldman’s Strongest AI Infrastructure Bets The software side is also being pulled into the AI infrastructure story. On May 5, Broadcom announced VMware Cloud Foundation 9.1, positioning it as a private-cloud platform for production AI workloads, with support across AMD, Intel, and NVIDIA hardware. Broadcom Inc. (NASDAQ:AVGO) designs, develops, and supplies semiconductors and infrastructure software for global organizations’ complex, mission-critical needs. While we acknowledge the potential of AVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. Disclosure: None....
Welcome to Bloomberg’s AI Today newsletter. Every weekday we’ll break down artificial intelligence’s threats and opportunities for businesses, workers, finance and economies. Sign up now if you’re not already on the list. Up first Around the world, streaming giants like Netflix are thriving by siphoning up viewers from movie theaters and traditional cable networks. In China, these services face an...
Welcome to Bloomberg’s AI Today newsletter. Every weekday we’ll break down artificial intelligence’s threats and opportunities for businesses, workers, finance and economies. Sign up now if you’re not already on the list. Up first Around the world, streaming giants like Netflix are thriving by siphoning up viewers from movie theaters and traditional cable networks. In China, these services face an existential threat from generative AI . Take iQiyi, a streamer which this week reported a 13% fall in revenue — contrasting with Netflix’s projected growth for the year and extending an almost unbroken two-year streak of declines. Much of that is down to users scrolling short-form videos on Douyin, TikTok’s Chinese sibling, rather than longer shows. But the rising threat to big-budget web shows comes from AI-generated dopamine hits on mobile, including cliff-hanging, one-minute short dramas. China, which has adopted AI more rapidly than other regions, offers an early glimpse at how AI could eat into traditional entertainment . iQiyi is embracing the technology, attracting more than 10,000 users to its AI video tools that can handle every aspect of making mini-shows. It isn’t making much money yet, but the streamer hopes it could spawn a new entertainment ecosystem. Others are following suit. Bona Film Group, the studio behind some of China’s biggest patriotic blockbusters, and ByteDance are set to release a 90-minute sci-fi animation made entirely with AI. While YouTube boss Neal Mohan, and many users, describe some synthetic content as AI slop , China’s approach assigns more value and potential. In the global race for eyeballs, the ultimate disruption to legacy cinema may not be big studio deals, but an automated production pipeline . — Charlie Zhu , Zheping Huang The following was produced with the assistance of Bloomberg Automation. Banking & Finance SpaceX is marketing itself to IPO investors as an artificial intelligence play targeting a $26.5 trillion potential marke...
Ivan Toney's sudden return to England's squad after a year out is both a remarkable act of faith – or change of heart - on Tuchel's part as well as a condemnation of others who had claims on being Harry Kane's understudy. It is also another sign of what is surely England and Tuchel's biggest fear – how can they cope should misfortune befall all-time record goalscorer Kane? Quite how 30-year-old To...
Ivan Toney's sudden return to England's squad after a year out is both a remarkable act of faith – or change of heart - on Tuchel's part as well as a condemnation of others who had claims on being Harry Kane's understudy. It is also another sign of what is surely England and Tuchel's biggest fear – how can they cope should misfortune befall all-time record goalscorer Kane? Quite how 30-year-old Toney has worked his way back into Tuchel's consciousness is intriguing, given he was summoned from Saudi Arabia a year ago for a World Cup qualifier away to Andorra then a friendly at home to Senegal, given two minutes as a substitute in the latter as England lost 3-1, then was dispatched never to be seen again. Until now. Until Tuchel laid out his World Cup masterplan. Toney has scored 42 goals for his Saudi Pro League club Al-Ahli this season, not necessarily the acid test of international quality, but this pick has not come from left field. It has come from a different continent. It may be that Toney has the cool temperament required in the heat of World Cup combat, and he is a penalty expert of course, but why has Tuchel left his selection until now after trying Dominic Calvert-Lewin and ignored the clams of Brighton veteran Danny Welbeck? If he felt Toney was going to be part of his World Cup plans for those March friendlies, why not pick him then?
Labour’s emerging leadership contest is reopening the EU debate. But if we want to rejoin, Britain needs a more European voting system first Nowhere is an anniversary more relished than in newspapers. As we approach the 10-year mark since Britain voted for Brexit, countless column inches would no doubt have been reserved for this purpose anyway. Yet the prospect of a Labour leadership contest, at ...
Labour’s emerging leadership contest is reopening the EU debate. But if we want to rejoin, Britain needs a more European voting system first Nowhere is an anniversary more relished than in newspapers. As we approach the 10-year mark since Britain voted for Brexit, countless column inches would no doubt have been reserved for this purpose anyway. Yet the prospect of a Labour leadership contest, at a time when polls are showing four-fifths of the party’s voters at the last election and an even higher proportion of its members want to reverse that June 2016 referendum decision, is transforming what might have merely been melancholic reflection into a more active debate. Keir Starmer last week made a belated nod to one of his party’s deepest desires by saying that he, too, wants to put the UK back at “ the heart of Europe ”, even if it was still unclear exactly what he meant. Then Wes Streeting sought to revive faltering ambitions to be the next prime minister with a call for full re-entry into the EU, although he was similarly vague about when that might happen. Meanwhile, Andy Burnham was busy rowing back from a previously expressed hope of rejoining at some undisclosed point in his lifetime, perhaps because he won’t get a shot at Downing Street unless he first wins next month’s byelection in Makerfield , where a majority supported Brexit a decade ago. Tom Baldwin is the author of Keir Starmer, The Biography Continue reading...