US rejects China's claim of unauthorized trespassing after warship sails through disputed reef

The US has rejected China's claim that a US warship trespassed its territorial waters and urged Beijing to halt its "aggressive" maneuvers in the South China Sea.

China dispatched naval forces to monitor the transit of the USS Charleston near the disputed Sabina Shoal in the South China Sea.

A spokesperson for China's military accused the US of infringing upon China's sovereignty rights and interests.

The US rejects China's claim and asserts that Beijing's attempted enforcement of its unlawful Maritime claims undermines regional stability.

Washington has also accused Beijing of asserting what it terms "unlawful Maritime claims in most of the South China Sea."

Sabina Shoal, a Coral Atoll in the contested Spratly Islands, is located approximately 75 nautical miles west of the Philippine island of Palawan.

The Philippines, which refers to it as Escoda Shoal, considers it to be within its 200-Nautical-Mile exclusive economic zone (EEZ).

China, which claims almost all of the vast South China Sea as its territory, refers to the Shoal as Xianbin Reef. A key point of contention concerns how Sabina Shoal is classified as a natural feature and the Maritime rights it may not generate under international Maritime law.

Reference Sources

1. voanews - US rejects China's claim of unauthorized trespassing after warship sails through disputed reef

Chinese AI Startup DeekSeek Raises $15 Billion Ahead of Potential IPO

Chinese AI startup DeepSeek has raised $15Bn in its latest funding round, nearly doubling its initial target thanks to strong investor interest, according to sources.

The company is accelerating its initial public offering timeline, aiming for a Shanghai listing early next year, and is ramping up spending on AI infrastructure and open models for domestic and international markets, even as it faces restrictions in the US.

The massive funding round is the latest sign of investors pouring billions into AI companies around the world, including those in China, to compete in the global AI race.

The Hangzhou-based AI startup is ramping up spending on ai infrastructure and open models for domestic and international markets, even as it faces restrictions in the us.

Chinese company Moonshot AI secured $2Bn at a $20Bn valuation in May.

Manus AI raised more than $500M earlier this month.

Meanwhile, Chinese companies Zhipu AI and Minimax, which both went public in Hong Kong in January, have market capitalisations of roughly $29Bn.

Reference Sources

1. thestarmy - Deepseek raises $15 billion in challenge to leading US labs, Bloomberg News reports
2. wsj - Chinese AI Startup DeekSeek Raises $15 Billion Ahead of Potential IPO
3. techcrunch - DeepSeek reportedly raises $15B days after US restrictions

Barclays Bank to Cut about 5,000 Jobs amid AI Drive

British bank Barclays has announced plans to cut around 5,000 jobs, or approximately 5% of its workforce, by the end of 2026 as it incorporates AI more deeply into its business.

The bank's CEO, C. S. Venkatakrishnan, said around 60% of the actions relate to support functions, "including fewer developers as AI makes our people more productive." The job losses form part of a growing shift in the banking sector towards technology in a bid to cut costs. Earlier this month, HSBC was reported to have been preparing for a "brutal" jobs cull in its wealth management division.

Reference Sources

1. wsj - Barclays Cuts 5% of Jobs In AI Overhaul
2. aawsat - Barclays Bank to Cut about 5,000 Jobs amid AI Drive
3. dailymail - Barclays to cut 5,000 jobs this year in push towards AI
4. theguardian - Barclays profits up 12% as UK banks brace for tax increase in budget
5. malaymail - Barclays to axe 5,000 jobs amid push to boost efficiency with AI

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.  

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Uploaded by Ian Huang