Ant Group appoints Liu Zheng as CFO, effective immediately
Liu is the former chief financial officer of Chinese e-commerce giant Alibaba's (9988.HK), opens new tab logistics arm Cainiao.
Han is set to take over from Eric Jing as CEO of Ant from March 1, according to earlier media reports.
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The Independent
a minute ago
- The Independent
MTG again lashes out at Trump this time over his AI plan: ‘An absolute threat to federalism'
Republican Rep. Marjorie Taylor Greene, a staunch ally of the MAGA movement, broke from President Donald Trump on Thursday to oppose his executive order on artificial intelligence, raising concerns about its impact on the environment and states' rights. Hoping to accelerate the United States's development of AI, Trump signed a series of executive orders on Wednesday, making it easier to build data centers on federal lands and incentivizing states to impose fewer regulations by threatening to withhold federal funding to AI projects. But Greene raised a red flag, saying she was concerned with the impact of massive data centers on the people and environment around, while providing little to no regulations. 'My deep concerns are that the EO demands rapid AI expansion with little to no guardrails and breaks. It also contains the threat of withholding federal funds from states who regulate AI, which is an absolute threat to federalism and why I strongly opposed the AI state moratorium originally in the BBB,' Greene wrote on X. Trump has pushed for more AI development in the U.S., hoping for companies such as Meta, Google, OpenAI, and Microsoft to develop and expand their AI technology beyond what the Chinese-based company DeepSeek has already done. But the Georgia congresswoman said the 'rushed AI expansion' should include a plan to address human and environmental impact – with particular concerns around using nearby water supplies that cross state lines. 'Competing with China does not mean become like China by threatening state rights, replacing human jobs on mass scale creating mass poverty, and creating potentially devastating effects on our environment and critical water supply,' Greene wrote. 'This needs a careful and wise approach. The AI EO takes the opposite.' Greene's statement is the latest in a string of opposing stances that she has taken against Trump, whom she has typically expressed unwavering loyalty to. Recently, Greene has also criticized the administration for not releasing the Epstein Files, a recent Trump-backed crypto bill, and the president's decision to intervene in the Iran–Israel conflict by bombing Iranian nuclear facilities. Her additional opposition also comes at a moment of contention between the president and his MAGA base. Trump's dismissal of the Epstein Files, of which conspiracy theories have floated in the MAGA world for years, appears to have caused a fracture in his base's trust. It's unclear how many may feel about the AI bill, but Greene's opposition provides some insight. 'I represent the base and when I'm frustrated and upset over the direction of things, you better be clear, the base is not happy,' Greene said on X back in May.
Reuters
2 minutes ago
- Reuters
Glass Lewis sues Texas over law limiting DEI, ESG proxy advice
July 24 (Reuters) - Glass Lewis, one of the best known proxy advisers, sued Texas on Thursday to block a first-of-its-kind state law limiting its ability to advise shareholders on diversity, environmental and governance practices. In a complaint filed in Austin, Texas federal court, Glass Lewis said Texas' law was unconstitutional, violating its First Amendment right to freedom of association and protection against viewpoint discrimination. Signed by Republican Governor Greg Abbott in June, the law targets "non-financial" advice on environmental, social and governance (ESG) matters, or diversity, equity and inclusion (DEI) matters, including for votes at shareholder meetings. It requires proxy advisers to conspicuously tell clients that the advice is "not being provided solely in the financial interest of the company's shareholders," and to provide financial analyses supporting the advice. The law takes effect on September 1. Glass Lewis said the law unlawfully forces proxy advisers to broadcast Texas' preferred viewpoints when their own differ, including on hot-button issues that Republican state legislators viewed as "increasingly political." It also said it will likely lose clients and suffer reputational harm if forced to tell clients its advice is bad for them and not in shareholders' financial interests. Texas' Republican Attorney General Ken Paxton, who enforces the state's laws and is running for U.S. Senate in 2026, is the only defendant. His office did not immediately respond to a request for comment. Glass Lewis said it has more than 1,300 institutional investor clients, including more than one dozen in Texas. Many companies have this year scaled back or ended their support for DEI programs after Republican U.S. President Donald Trump campaigned against them. The case is Glass Lewis & Co v Paxton, U.S. District Court, Western District of Texas, No. 25-01153.
Reuters
2 minutes ago
- Reuters
UK and Australia deepen AUKUS submarine pact with 50-year treaty
LONDON, July 24 (Reuters) - Britain said on Thursday it would deepen its AUKUS nuclear submarine partnership with Australia through a new 50-year treaty that it expected to create jobs and boost British exports. Australia, Britain and the U.S. agreed the AUKUS pact in 2021 to provide Australia with nuclear-powered attack submarines from the next decade to counter China's ambitions in the Indo-Pacific. However, U.S. President Donald Trump launched a formal review of the pact last month to examine whether it met his "America First" criteria. Australia has said it is confident the partnership will proceed. The new British-Australian treaty will underpin each country's submarine programmes and is expected to be worth up to 20 billion pounds ($27.1 billion) to Britain in exports over the next 25 years, its ministry of defence said. The bilateral treaty comes as Britain's defence and foreign ministers travel to Australia to meet their counterparts as well as visit the northern garrison city of Darwin, as Australia hosts its largest-ever military exercise. "AUKUS is one of Britain's most important defence partnerships, strengthening global security while driving growth at home," British defence minister John Healey said. "This historic treaty confirms our AUKUS commitment for the next half century." At its peak, there will be over 21,000 people in Britain working on the AUKUS programme, Britain said. ($1 = 0.7377 pounds)
