Bank of England Governor Andrew Bailey warns that the rapid growth of artificial intelligence could lead to a global economic downturn if the AI bubble bursts, potentially triggering a market correction that spreads worldwide.
China's three largest airlines—Air China, China Eastern, and China Southern—reported combined first-half losses of US$1.22 billion, driven by high fuel costs and a weak summer travel season, casting doubt on their recovery prospects.
China's factory activity contracted for the second consecutive month in December, reflecting soft demand amid ongoing US trade frictions and a prolonged property crisis. The data underscores the challenges Beijing faces in sustaining economic momentum.