ByteDance Rolls Out Seedance 2.0, as OpenAI Scraps Sora
ByteDance unveiled Seedance 2.0, a text‑to‑video model that produces near‑Hollywood‑quality clips, prompting immediate backlash from major studios over potential copyright infringement. The company paused its global rollout while expanding the service in Africa, Latin America, the Middle East, and Southeast Asia. In the United States, OpenAI announced the discontinuation of its Sora video platform, citing resource intensity, user boycotts, and Disney’s withdrawal amid IP concerns. OpenAI is now refocusing on agentic AI and robotics as it prepares for a late‑year IPO.
Oil Falls, Asian Markets Rally as News of US Peace Plan Emerges
The United States delivered a 15‑point peace proposal to Iran via Pakistan, prompting Tehran to announce safe passage for non‑hostile tankers through the Strait of Hormuz. Oil benchmarks reacted sharply, with Brent sliding to $98 a barrel and WTI to...
Asian Stocks Sink After Oil Surges 5% and Energy Fears Rise
Oil prices surged over 5% on Thursday, with Brent breaching $113 per barrel after Iran struck Qatar's Ras Laffan LNG hub and threatened the South Pars field shared with Israel. The attacks reignited regional energy‑supply fears, sending European gas up more...
Oil Sinks, Asian Markets Rally, as Trump Says War Will End ‘Soon’
President Donald Trump’s claim that the U.S.–Israel‑Iran war will end soon helped reverse a sharp oil rally, pulling Brent crude down more than 7% to around $92 a barrel. Iran vowed to halt all Gulf oil exports, while attacks on...
China Unveils New Year Measures as Consumption Data Dips
Chinese local governments announced a suite of stimulus measures ahead of the longest Lunar New Year break, extending the holiday to nine days. The central government allocated 2.05 billion yuan in vouchers, red‑envelopes and subsidies to directly benefit consumers. January's consumer...