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First Post
6 hours ago
- Business
- First Post
Trump creates tariff firewall against China, its companies turn attention to Brazil
China's energy strategy faces disruption as Israel's strikes on Iran threaten key oil supply routes. With US trade tensions rising, Chinese firms are pivoting to Brazil while Beijing accelerates its push for energy self-sufficiency. Analysts warn the conflict could weaken China's regional influence and diplomatic ambitions. read more China's decades-long push to secure energy dominance through partnerships with Iran is facing a major test as the Israel-Iran war threatens to choke Beijing's oil supply lines and disrupt its regional ambitions. The fallout, combined with escalating trade tensions with Washington, is prompting a reorientation of Chinese corporate interests toward markets like Brazil, according to a report by the Financial Times. Chinese President Xi Jinping this week urged restraint from all sides in the escalating Middle East conflict, while also criticising US interference in China's trade with Iran. Yet, concerns in Beijing are mounting as Israel continues to target Iranian oil and nuclear facilities. Analysts say this not only jeopardises China's access to cheap Iranian crude but also threatens its broader diplomatic and energy strategy in the region. STORY CONTINUES BELOW THIS AD 'If this situation continues to escalate, then they lose quite a bit, both in terms of their energy security and Iran as a strategic card that China holds,' said Gedaliah Afterman of Israel's Abba Eban Institute, speaking to FT. Iran has become a vital energy partner for China, particularly since US-led sanctions intensified in 2018. China buys the bulk of Iran's oil exports—reaching as much as 1.6 million barrels a day at its peak in 2024—and supplies Tehran with essential goods, including electronics, vehicles, and even nuclear equipment. But Iranian shipments to China dropped to 740,000 barrels a day by April, driven by fears of further sanctions and intensifying regional instability. The risk of an Iranian blockade of the Strait of Hormuz—through which billions of dollars in Gulf oil flows to China adds to Beijing's anxiety. While some Chinese analysts say OPEC+ producers may fill the gap in a worst-case scenario, any broader disruption would drive up prices and hit China's energy security. China's reliance on Gulf suppliers is significant. Besides Iran, Saudi Arabia is its largest oil provider outside Russia. In natural gas, over a quarter of China's LNG imports last year came from Qatar and the UAE. Even with long-term contracts, Chinese importers may be forced to turn to the spot market at higher costs if the regional crisis widens. STORY CONTINUES BELOW THIS AD The FT report also highlights that President Xi's broader strategy of energy self-sufficiency may now accelerate. China is already the world's top user of oil, but under Xi, it has embarked on a massive renewable push. Solar and wind now make up 56% of total electricity power plant capacity, up from a third ten years ago. 'This crisis will only make Beijing double down,' said Neil Beveridge of Bernstein Research. 'If it wasn't happening fast enough before, it will be happening even faster now.' At the same time, the US-China rivalry continues to simmer. Former President Donald Trump has moved to harden trade restrictions on Beijing, creating what analysts describe as a 'tariff firewall.' Facing mounting pressure, many Chinese firms are increasingly eyeing Brazil as an alternative trade partner and investment destination, particularly in sectors like agriculture, green energy, and critical minerals. Beijing's broader diplomatic ambitions in the Middle East have also taken a hit. China's influence surged with its mediation of the 2023 Saudi-Iran deal and its 25-year cooperation pact with Tehran. But analysts were quoted by FT as highlighting its role as a neutral broker has been diminished by the latest conflict and its cautious response. STORY CONTINUES BELOW THIS AD 'The demise or the collapse of the Iranian system or the Iranian power as we knew it is not good news for China,' Yun Sun of the Stimson Center told FT. 'That indirectly means that American influence has expanded.' Experts echoed that for Beijing, the Israel-Iran war is a stark reminder of the vulnerability in its foreign energy bets and the geopolitical limits of its global aspirations.
Time of India
8 hours ago
- Business
- Time of India
BBC threatens legal action against AI startup Perplexity over content scraping: Report
UK broadcaster BBC is threatening legal action ag ai nst AI search engine Perplexity accusing the startup of training its "default AI model" using BBC content, the Financial Times reported on Friday. In a letter to Perplexity Chief Executive Aravind Srinivas seen by the FT, BBC said it may seek an injunction unless the AI firm stops scraping its content, deletes existing copies used to train its AI systems, and submits "a proposal for financial compensation" for the alleged misuse of its intellectual property. Perplexity called BBC's claims "manipulative and opportunistic" in a statement to the FT, adding that BBC had "a fundamental misunderstanding of technology, the internet and intellectual property law." Perplexity and BBC did not immediately respond to a Reuters request for comment. Reuters could not immediately verify the report. Since ChatGPT's introduction publishers have raised alarms about chatbots that comb the internet to find information and create paragraph summaries for users. Perplexity has faced accusations from media organizations including Forbes and Wired for plagiarizing their content, but has since launched a revenue-sharing program to address publisher concerns. In October, the New York Times sent Perplexity a "cease and desist" notice demanding the company stop using the newspaper's content for generative AI purposes.
The Sun
9 hours ago
- Business
- The Sun
BBC threatens legal action against AI startup Perplexity over content scraping, FT reports
THE BBC has threatened legal action against Perplexity, accusing the AI startup of training its 'default AI model' using BBC content, the Financial Times reported on Friday, making the British broadcaster the latest news organisation to accuse the AI firm of content scraping. The BBC may seek an injunction unless Perplexity stops scraping its content, deletes existing copies used to train its AI systems, and submits 'a proposal for financial compensation' for the alleged misuse of its intellectual property, FT said, citing a letter sent to Perplexity CEO Aravind Srinivas. The broadcaster confirmed the FT report in a statement to Reuters. Perplexity has faced accusations from media organizations, including Forbes and Wired, for plagiarizing their content but has since launched a revenue-sharing program to address publisher concerns. Last October, the New York Times sent it a 'cease and desist' notice, demanding the firm stop using the newspaper's content for generative AI purposes. Since the introduction of ChatGPT, publishers have raised alarms about chatbots that comb the internet to find information and create paragraph summaries for users. The BBC said that parts of its content had been reproduced verbatim by Perplexity and that links to the BBC website have appeared in search results, according to the FT report. Perplexity called the BBC's claims 'manipulative and opportunistic' in a statement to Reuters, adding that the broadcaster had 'a fundamental misunderstanding of technology, the internet and intellectual property law.' Perplexity provides information by searching the internet, similar to ChatGPT and Google's Gemini, and is backed by founder Jeff Bezos, AI giant Nvidia and Japan's SoftBank Group. The startup is in advanced talks to raise $500 million in a funding round that would value it at $14 billion, the Wall Street Journal reported last month.
The Sun
9 hours ago
- Business
- The Sun
BBC threatens legal action over Perplexity AI content use
THE BBC has threatened legal action against Perplexity, accusing the AI startup of training its 'default AI model' using BBC content, the Financial Times reported on Friday, making the British broadcaster the latest news organisation to accuse the AI firm of content scraping. The BBC may seek an injunction unless Perplexity stops scraping its content, deletes existing copies used to train its AI systems, and submits 'a proposal for financial compensation' for the alleged misuse of its intellectual property, FT said, citing a letter sent to Perplexity CEO Aravind Srinivas. The broadcaster confirmed the FT report in a statement to Reuters. Perplexity has faced accusations from media organizations, including Forbes and Wired, for plagiarizing their content but has since launched a revenue-sharing program to address publisher concerns. Last October, the New York Times sent it a 'cease and desist' notice, demanding the firm stop using the newspaper's content for generative AI purposes. Since the introduction of ChatGPT, publishers have raised alarms about chatbots that comb the internet to find information and create paragraph summaries for users. The BBC said that parts of its content had been reproduced verbatim by Perplexity and that links to the BBC website have appeared in search results, according to the FT report. Perplexity called the BBC's claims 'manipulative and opportunistic' in a statement to Reuters, adding that the broadcaster had 'a fundamental misunderstanding of technology, the internet and intellectual property law.' Perplexity provides information by searching the internet, similar to ChatGPT and Google's Gemini, and is backed by founder Jeff Bezos, AI giant Nvidia and Japan's SoftBank Group. The startup is in advanced talks to raise $500 million in a funding round that would value it at $14 billion, the Wall Street Journal reported last month.
Straits Times
11 hours ago
- Business
- Straits Times
BBC threatens legal action against AI startup Perplexity over content scraping
publishers have raised alarms about chatbots that comb the internet to find information and create paragraph summaries for users. PHOTO: REUTERS LONDON – The BBC has threatened legal action against Perplexity, accusing the AI startup of training its 'default AI model' using BBC content, the Financial Times (FT) reported on June 20, making the British broadcaster the latest news organisation to accuse the AI firm of content scraping. The BBC may seek an injunction unless Perplexity stops scraping its content, deletes existing copies used to train its AI systems, and submits 'a proposal for financial compensation' for the alleged misuse of its intellectual property, FT said, citing a letter sent to Perplexity CEO Aravind Srinivas. The broadcaster confirmed the FT report in a statement to Reuters. Perplexity has faced accusations from media organisations, including Forbes and Wired, for plagiarising their content but has since launched a revenue-sharing programme to address publisher concerns. Last October, the New York Times sent it a 'cease and desist' notice, demanding the firm stop using the newspaper's content for generative AI purposes. Since the introduction of ChatGPT, publishers have raised alarms about chatbots that comb the internet to find information and create paragraph summaries for users. The BBC said parts of its content were reproduced verbatim by Perplexity, and that links to the BBC website have appeared in search results, according to the FT report. Perplexity called the BBC's claims 'manipulative and opportunistic' in a statement to Reuters, adding that the broadcaster has 'a fundamental misunderstanding of technology, the internet and intellectual property law'. Perplexity provides information by searching the internet, similar to ChatGPT and Google's Gemini, and is backed by founder Jeff Bezos, AI giant Nvidia and Japan's SoftBank Group. The startup is in advanced talks to raise US$500 million (S$642 million) in a funding round that would value it at US$14 billion, the Wall Street Journal reported in May. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
