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Ebay the latest US corp to announce layoffs, with cuts coming to 9% of full-time workforce The Wall Street Journal wsj.com/business/ebay-…

HSBC books hefty China impairment but unveils fresh buybacks -- with Sherry Qin via The Wall Street Journal wsj.com/finance/hsbc-s…

Shares of China's Xiaomi Jump After Launch of Its First Electric Vehicle wsj.com/business/autos… via The Wall Street Journal

Yen Intervention Risk Is Rising, but Effects Could Be Short-Lived via The Wall Street Journal wsj.com/finance/curren…

Japan’s World-Beating Stock Gains May Lose Steam wsj.com/finance/stocks… via The Wall Street Journal

Chinese e-commerce giant Alibaba spent $4.8 billion on buybacks in the latest quarter, its second most on record. More are coming. wsj.com/business/aliba… via The Wall Street Journal

Apple’s Smartphone Sales Slump as China Rivals Rise - 1Q shipments fell ~10% on year, according to IDC, with Samsung back in pole position and China rivals expanding market share wsj.com/tech/samsung-o… The Wall Street Journal

Mining Mega Deal: BHP offers to buy Anglo American, a longtime rival with a market cap of ~$35 billion, in a deal that could reshape the global mining industry. Part of the appeal: growing bets on copper for energy transition. wsj.com/business/deals… via The Wall Street Journal with David Winning

China's EV Price War? It's just getting started, write Jiahui Huang & Sherry Qin. With a historic round of cuts this month, Tesla, Li Auto and others have extended China’s monthslong EV price fight into a new quarter -- and it could last years. wsj.com/business/autos… The Wall Street Journal

China approves self-driving startup Pony.AI’s plans to list in New York. Watch this space. wsj.com/finance/stocks… via The Wall Street Journal by Sherry Qin

HD Hyundai’s ship repair unit is raising $540 million in what will be South Korea's biggest IPO in more than two years. One beneficiary is KKR, which plans to sell part of the 38% stake it acquired in 2021. wsj.com/finance/stocks… via The Wall Street Journal by Kwanwoo Jun

BMW will spend $2.8 billion update a China factory to boost EV production in the world's largest EV market, with plans to roll out its coming Neue Klasse electric series in 2026 wsj.com/world/china/bm… via The Wall Street Journal Jiahui Huang

Japan intervened to prop up the yen after it hit a multidecade low against the dollar on Monday, sources confirmed. It's unlikely to be the last time Japan intervenes in the currency market this year. By Kosaku Narioka wsj.com/world/asia/jap… via The Wall Street Journal

Microsoft is spending $1.7 billion on AI infrastructure in Indonesia, its biggest investment ever in Southeast Asia's largest economy. Coming soon: its first data centers in the country as it preps for a boom in AI computing demand. The Wall Street Journal by Kimberley Kao wsj.com/tech/ai/micros…

China EV sales jumped in April, a sign of rebounding demand amid price wars and government efforts to usher more buyers into the world’s largest EV market. Sales of world No. 1 BYD rose 49% on year. w/ Jiahui Huang wsj.com/business/autos… via The Wall Street Journal

BYD’s 1Q Story Was in the Margins: Net profit per car of the Chinese EV giant fell, but the supply-chain negotiating power that comes with economies of scale made gross profit margin the envy of the industry. w/ Jiahui Huang wsj.com/business/earni… via The Wall Street Journal

Amazon is pouring $9 billion into cloud infrastructure in Singapore, coming on the heels of Microsoft's ~$4 billion plans for data centers and AI plans in Indonesia and Malaysia. w/Sherry Qin wsj.com/tech/amazon-to… via The Wall Street Journal

Mercedes, Toyota, Hyundai and others are turning to Chinese tech giants to claw back market share in one of the world’s fastest-changing auto markets. New battlegrounds include auto-driving, big data and in-car video games. w/ Jiahui Huang The Wall Street Journal wsj.com/business/autos…

Beijing’s ‘Digest’ Phrasing Signals Sea Change in China's Housing Crisis. Stage set for rescue efforts that could range from unprecedented easing for home buyers to billions in state spending to buy up unsold projects. w/Sherry Qin Jiahui Huang wsj.com/economy/housin… The Wall Street Journal

China is vying for pole position in the global robotaxi race, with more than 32,000 kilometers of roadway open to a first generation of driverless taxis and 'smart roads' in the making wsj.com/world/asia/chi… via The Wall Street Journal with Jiahui Huang