GLOBAL MARKETS-Asian shares subdued as China trade eyed, yen steadies after recent falls Asian shares were subdued on Thursday as investors awaited China trade data to gauge the health of the Chinese economy, while the yen steadied after three days of declines as Japan talked up a potential currency intervention. Later in the day, the Bank of England (BoE) will decide its interest rate policy, with all eyes on the prospects of a June rate cut following the overnight move by Sweden's Riksbank to

Grayscale's application for ethereum futures ETF withdrawn Crypto asset manager Grayscale Investments' proposal for an exchange-traded fund tied to ether futures was withdrawn last week, according to a Tuesday notice from the U.S. Securities and Exchange Commission. WHY IT'S IMPORTANT The decision by NYSE Arca -- the exchange where Grayscale's ETF would have been listed if approved -- to withdraw the application comes just weeks before the SEC is set to deliver a final decision on proposals for

EXCLUSIVE-US eyes curbs on China's access to AI software behind apps like ChatGPT The Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China with preliminary plans to place guardrails around the most advanced AI Models, the core software of artificial intelligence systems like ChatGPT, sources said. The Commerce Department is considering a new regulatory push to restrict the export of proprietary or closed source AI models, whose software and the data

EXPLAINER-Why is the US government trying to ban TikTok or force Bytedance to divest? TikTok and its owner Bytedance on Tuesday sued to stop a law that would give its Chinese parent about a year to divest the U.S. assets of the short-video app, or face a nationwide ban. Here is a look at the effort to ban the app. WHY ARE US OFFICIALS FORCING A DIVESTMENT OR BANNING TIKTOK? U.S. officials warned TikTok's management is beholden to the Chinese government and fear Beijing could use the social media