Chinese AI firms showcase resilience, innovations at AI event despite US sanctions

SHANGHAI (Reuters) – Chinese tech companies, from industry giants to ambitious startups, converged at the World AI Conference in Shanghai this week to showcase their latest innovations and express strong support for the country’s artificial intelligence sector even as it faces U.S. sanctions. More than 150 AI-related products and solutions are being exhibited at the…

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Customers Bancorp hit with Fed action for risk-management deficiencies

By Pete Schroeder WASHINGTON (Reuters) -The U.S. Federal Reserve announced on Thursday it had imposed an enforcement action against Customers Bancorp for “significant deficiencies” around the bank’s risk-management and anti money-laundering practices. The bank’s stock fell by more than 20% after the Fed announced the action, but pared losses to close 13.3% lower at $47.01…

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