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Amgen expands in India with $200 million investment

US drugmaker Amgen has announced a $200 million investment in a new technology centre in southern India, which will focus on using AI and data science to support the development of new medicines. The centre, located in Hyderabad, is expected to have a workforce of around 2,000 by the end of the year, with 300 employees already on-site. Amgen plans to make additional investments in the coming years as part of its ongoing expansion in India.

Amgen’s decision to invest in India reflects the growing importance of the country in the global pharmaceutical industry, often referred to as the ‘pharmacy of the world.’ The company’s new centre aligns with broader efforts by global pharmaceutical companies to increase their presence in India. The BioAsia conference in Hyderabad will feature executives from major drugmakers, including Amgen, Eli Lilly, and Novartis.

Amgen’s move comes amid heightened cooperation between India and the US, which recently launched discussions for an early trade deal. A key focus of these talks is to promote collaboration in critical and emerging technologies, which includes areas like pharmaceuticals. US officials have praised Amgen’s expansion as a model for how both countries can work together to harness innovation and technology.

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US lawmakers criticise EU’s Digital Markets Act

US House Judiciary Chair Jim Jordan has called on European Union antitrust chief Teresa Ribera to clarify how the EU enforces its Digital Markets Act (DMA), which he believes disproportionately targets American companies. His request follows a memorandum signed by US President Donald Trump, warning that the administration would scrutinise the EU’s new rules regulating how US companies interact with consumers in Europe.

Jordan and his co-signatory, Scott Fitzgerald, criticised the DMA’s hefty fines, which can reach up to 10% of a company’s global revenue for violations. They argue that the rules not only disadvantage US companies but also potentially benefit Chinese firms, stifling innovation and handing over valuable data to adversarial nations. The letter urges Ribera to address these concerns with the judiciary committee by March 10.

The European Commission, where Ribera is the second-highest official, has rejected claims that its laws are aimed at American companies. Ribera defended the DMA in a recent interview, stating that the EU should not be pressured into altering laws that have already been approved by European lawmakers.

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Google plans global expansion of YouTube Premium Lite

Google is reportedly preparing to launch YouTube Premium Lite, a cheaper alternative to its full subscription service, in several countries, including the US, Australia, Germany and Thailand. Bloomberg reports that the service will cater to users who want an ad-free experience for most videos but do not necessarily need access to YouTube Music.

YouTube previously tested a similar version of Premium Lite in parts of Europe in 2021, but the plan was discontinued in 2023. However, recent tests suggest that the updated version may include limited ads rather than a completely ad-free experience. Pricing remains unclear, but in Australia, a test version was listed at $8.99 AUD per month, significantly lower than the standard YouTube Premium price.

A YouTube spokesperson confirmed that the company is working on a new subscription tier with ‘most videos ad-free’ and hopes to expand it with support from its partners. While no official launch date has been announced, the move could provide a middle ground for users seeking fewer interruptions without committing to the full YouTube Premium package.

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China’s tech giants take on US rivals in stock market surge

Chinese tech stocks are experiencing a major surge, inspiring catchy nicknames as they rival the United States ‘Magnificent Seven’ tech giants. Driven by excitement around AI startup DeepSeek and perceived state backing following President Xi Jinping’s meeting with business leaders like Alibaba founder Jack Ma, the Hong Kong market has climbed significantly.

The Hang Seng index now ranks among the best-performing major markets this year, with leading firms stepping into the spotlight.

Brokerages have dubbed rising Chinese companies the ‘Seven Sisters,’ likely emerging from sectors like AI, chip-making, and high-end manufacturing. Companies such as Tencent, Alibaba, Xiaomi, and BYD are top contenders.

Another group, the ‘Terrific Ten,’ has also gained attention, with firms like JD.com, Geely, Baidu, and SMIC included, boosting the Hang Seng Tech index by nearly 70% over the past year—outpacing Nasdaq’s 27% gain.

The rivalry pits China‘s rising stars against the US ‘Magnificent Seven,’ a term coined by Bank of America, representing giants like Apple, Meta, and Nvidia.

Meanwhile, UBS has identified eight AI-driven Chinese stocks as the ‘VENUS Eight,’ and DeepSeek features among the ‘Little Dragon’ startups in Hangzhou, signalling China’s growing tech ambitions in the global market.

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STMicroelectronics unveils new AI chip for data centres

STMicroelectronics has announced the launch of a new computer chip aimed at the rapidly expanding AI data centre market. Developed in collaboration with Amazon Web Services (AWS), the photonics chip uses light rather than electricity, which helps increase speed and reduce power consumption in AI data centres. These chips are expected to be used in transceivers, which are crucial components in data centre infrastructure.

As top US software companies plan to invest $500 billion into AI infrastructure, there is rising demand for specialised chips, not only for computing but also for memory, power, and communications applications. ST’s new chip targets the communications sector, with a focus on improving the efficiency of transceivers, which are essential in AI data centres. The company also has a collaboration agreement with AWS to deploy this technology in their infrastructure later this year.

ST is working with a leading provider of optical solutions, although the company’s name has not been disclosed, to integrate the new chip into next-generation transceivers. The market for such devices, valued at $7 billion in 2024, is expected to grow significantly, reaching $24 billion by 2030. ST will begin mass production of these chips at its facility in Crolles, France.

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TikTok lays off staff in trust and safety restructuring

TikTok is reportedly laying off staff from its trust and safety unit, which is responsible for content moderation, as part of a restructuring effort. The layoffs began on Thursday, affecting teams in Asia, Europe, the Middle East, and Africa. Adam Presser, TikTok’s operations head, sent a memo to staff informing them of the decision, though the company has not yet commented on the move.

The layoffs come at a time when TikTok’s future is uncertain. The app, used by nearly half of all Americans, faced a brief outage last month, followed by a law that came into effect in January, requiring its Chinese owner ByteDance to either sell TikTok or face a national security-related ban. TikTok CEO Shou Chew had previously testified before Congress about the company’s trust and safety measures, pledging to invest more than $2 billion in these efforts.

In line with a shift towards AI-driven content moderation, TikTok had already made significant layoffs in October, including staff in Malaysia. The company currently employs 40,000 trust and safety professionals globally, but the full scope of the recent cuts remains unclear.

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X discusses a new financing round at $44 billion

Elon Musk’s social media company X is currently in discussions to raise funds from investors at a $44 billion valuation, according to Bloomberg News. Musk purchased the platform, formerly known as Twitter, for the same price in 2022.

The financing talks are still ongoing, with the potential for details to change or even for the discussions to be abandoned altogether, the report added. The US company has not yet responded to requests for comment on the matter.

In related news, last month, it was reported that Morgan Stanley, Bank of America, and Barclays were preparing to sell up to $3 billion in debt holdings in X.

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Trump discusses TikTok sale with China

President Donald Trump confirmed on Wednesday that he was in active discussions with China over the future of TikTok, as the US seeks to broker a sale of the popular app. Speaking to reporters aboard Air Force One, Trump revealed that talks were ongoing, underscoring the US government’s desire to address national security concerns tied to the app’s ownership by the Chinese company ByteDance. The move comes amid growing scrutiny over TikTok’s data security practices and potential links to the Chinese government.

The Trump administration has expressed concerns that TikTok could be used to collect sensitive data on US users, raising fears about national security risks. As a result, the US has been pushing for ByteDance to sell TikTok’s US operations to an American company. This would be part of an effort to reduce any potential influence from the Chinese government over the app’s data and operations. However, the process has faced complexities, with discussions involving multiple stakeholders, including potential buyers.

While the negotiations continue, the future of TikTok remains uncertain. If a sale is not agreed upon, the US has indicated that it could pursue further actions, including a potential ban of the app. As these talks unfold, the outcome could have significant implications for TikTok’s millions of American users and its business operations in the US, with both sides working to find a solution that addresses the security concerns while allowing the app to continue its success.

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Resonac plans to pursue acquisitions after reducing borrowing

Resonac Holdings, a leading chip materials maker in Japan, is positioning itself to make strategic acquisitions after reducing its borrowing, according to CEO Hidehito Takahashi. Speaking to Reuters, Takahashi expressed the company’s intention to take an aggressive approach this year, particularly eyeing opportunities when a state-backed fund exits its competitor JSR, a photoresist maker recently taken private.

Resonac, formed by Showa Denko’s acquisition of Hitachi Chemical, has been divesting assets, including a planned partial spin-off of its petrochemical business. Takahashi sees JSR’s potential exit as a key opportunity for Resonac to expand its footprint in the semiconductor materials sector. Japan’s semiconductor market remains competitive, despite the country’s reduced role in chip manufacturing, and companies like Resonac must scale up to remain viable.

In addition to its expansion efforts, Resonac is establishing an R&D centre in Silicon Valley to strengthen its ties with firms in the region. However, Takahashi made it clear that the company is not currently considering manufacturing materials in the US, though future demand could prompt a reassessment of such plans.

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US court urged to reconsider net neutrality ruling after push from public interest groups

Public interest groups have urged a US court to revisit its decision blocking the reinstatement of net neutrality rules. The appeal was submitted to the 6th Circuit Court of Appeals after a three-judge panel ruled that the Federal Communications Commission (FCC) lacked authority to enforce the rules.

These rules, first implemented in 2015 and later repealed under a different administration, aim to ensure equal access to the internet for all users.

Advocates, including Free Press and Public Knowledge, argue that the court’s ruling conflicts with a previous decision by another court. They emphasised the importance of protecting users from potential abuses by broadband providers, who might prioritise their own interests over fair access.

A representative for FCC Commissioner Brendan Carr, an opponent of net neutrality, has not yet responded to the appeal.

Net neutrality rules prevent internet providers from blocking or slowing content or giving preferential treatment to certain users. While state-level rules remain in place in regions like California, the court’s decision could halt federal efforts to oversee broadband regulation.

Earlier this year, the FCC had sought to reinstate these protections, but industry groups successfully argued for a temporary block.

Supporters of the rules include major tech companies, while telecom industry representatives view them as unnecessary and counterproductive. The ongoing legal battles could determine whether federal regulators will regain the ability to enforce open internet policies.

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