Author: Daniel snow

Deepseek’s logo on Jan. 29, 2025.Andrey Rudakov | Bloomberg | Getty ImagesChinese startup DeepSeek, which caused shockwaves across markets this year, quietly released an upgraded version of its artificial intelligence reasoning model.The company did not make an official announcement, but the upgrade of DeepSeek R1 was released on AI model repository Hugging Face.DeepSeek rose to prominence this year after its free, open-source R1 reasoning model outperformed offerings from rivals including Meta and OpenAI. The low-cost and short time of development shocked global markets, sparking concerns that U.S. tech giants were overspending on infrastructure and wiping billions of dollars of value…

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A Leopard 2 tank gear transmission in a production hall at the Renk AG plant in Augsburg, Germany, on Monday, May 8, 2023.Bloomberg | Bloomberg | Getty ImagesTank parts maker Renk is eyeing up talent from the auto sector as it races to scale up and fuel growth in the wake of rising geopolitical tensions and soaring military spending.Earlier this year Germany passed a historic fiscal package that enabled a steep increase in the defense spending capabilities of Europe’s largest economy. The 27-member state bloc is scaling up its defense efforts amid the war in Ukraine and the increasingly strained…

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This photo taken on Nov. 24, 2022 shows the building of Bank of Korea BOK in Seoul, South Korea. South Korea’s central bank on Thursday raised its policy rate to curb inflation, delivering six back-to-back rate hikes for the first time. (Photo by Wang Yiliang/Xinhua via Getty Images)Wang Yiliang | Xinhua News Agency | Getty ImagesSouth Korea’s central bank cut its policy interest rate by 25 basis points Thursday as the country faces a double-whammy of protracted political turmoil and Trump’s sweeping tariffs.The Bank of Korea reduced rates to 2.5% from 2.75%, its lowest level since August 2022, in line…

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