The stock market impressed but Friday's inflation data was sticky. Nvidia peer and AI chip IPO Astera Labs could be starting a base.
He was called China's answer to Steve Jobs for taking Xiaomi from scrappy startup to an electronics giant known for its smartphones. With the launch of a much-hyped and against-the-odds electric car, Lei Jun, Xiaomi's co-founder and CEO, is taking on Elon Musk with a strategy that takes a page from Tesla's playbook. Lei, 54, took the stage in Beijing on Thursday to unveil Xiaomi's SU7 car, a project three years in the making that has attracted a lot of attention but which, Lei has warned investors, will lose money.
A tropical cyclone that swept across Madagascar has killed 18 people and left four missing after making landfall on the north of the Indian Ocean island nation earlier this week, authorities said on Friday. The storm has also caused severe flooding that partly submerged entire villages, displaced or affected some 47,000 people and set off landslides that injured three people, the National Office for Disaster Management said. Cyclone Gamane hit northern Madagascar on Wednesday and has now weakened considerably, leaving a trail of destruction behind it.
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