๐ China's FDI Woes, AI Regulation Surge, Cruise's Setback
Todayโs pick
Plunging foreign direct investment piles pressure on China's economy. Foreign direct investment into China is falling across multiple measures, adding to pressure on Beijing and local governments as they seek to counter an economic slowdown. By Thomas Hale via Financial Times
๐: According to CFR's @Brad_Setser, the data suggest that โforeign companies are no longer reinvesting back in #Chinaโ & instead โare getting [their] profits out of the country as fast as they can - China Beige Book (@ChinaBeigeBook)
The Global Race to Regulate Artificial Intelligence is Heating Up. President Biden is set to issue an executive order on artificial intelligence on Monday, in his first effort to regulate how U.S. companies develop it and how regulators oversee the technology. By Andrew Ross Sorkin via The New York Times
๐: President Biden is set to issue new rules on the technology, days ahead of an international summit on A.I. safety. - Olav Mitchell Underdal (@omunderdal)
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Cruise hits the brakes on driverless, UAW makes progress and more EV backpedaling. The week started off with the California Department of Motor Vehicles suspending Cruiseโs driverless and deployment permits (with the California Public Utilities Commission following shortly after), effectively ending the companyโs robotaxi operations in San Francisco just months after receiving the last necessary permit to commercialize its operations. By Kirsten Korosec via TechCrunch
๐: Cruise hits the brakes on driverless, UAW makes progress and more EV backpedaling - TechCrunch (@TechCrunch)
Microsoft starts blocking 'unauthorized' Xbox controllers and accessories. Microsoft is starting to block โunauthorizedโ Xbox controllers and accessories from being used on Xbox consoles. Resetera posters spotted a warning about the block last week, with some third-party Xbox controllers now throwing up a โconnected accessory is not authorizedโ warning when connected to an Xbox console. By Tom Warren via The Verge
๐: Microsoft has started blocking "unauthorized" Xbox controllers and accessories from working on Xbox consoles. The block means devices like Cronus Zen and third-party controllers and adapters might not work on Xbox soon. - Tom Warren (@tomwarren)
X Users Won't Make Money Off Corrected Tweets. Creators whose posts on X, formerly called Twitter, have been corrected or amended by the platform's โcommunity notesโ feature won't be able to make money off of them, X owner Elon Musk said Sunday, in a change he says is meant to prioritize "accuracy over sensationalism." By Mary Whitfill Roeloffs via Forbes
๐: Creators whose posts on X have been corrected or amended by the platform's โcommunity notesโ feature wonโt be able to make money off of them, X owner Elon Musk said Sunday, in a change he says is meant to prioritize "accuracy over sensationalism." - Forbes (@Forbes)
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