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China's Baidu Reports Fourth-quarter Revenue Above Estimates

FILE PHOTO: The logo of Baidu's AI chatbot Ernie Bot is displayed near a screen showing the Baidu logo, in this illustration picture taken June 28, 2023. REUTERS/Florence Lo/Illustration/File Photo
FILE PHOTO: The logo of Baidu's AI chatbot Ernie Bot is displayed near a screen showing the Baidu logo, in this illustration picture taken June 28, 2023. REUTERS/Florence Lo/Illustration/File Photo
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China's Baidu Reports Fourth-quarter Revenue Above Estimates

FILE PHOTO: The logo of Baidu's AI chatbot Ernie Bot is displayed near a screen showing the Baidu logo, in this illustration picture taken June 28, 2023. REUTERS/Florence Lo/Illustration/File Photo
FILE PHOTO: The logo of Baidu's AI chatbot Ernie Bot is displayed near a screen showing the Baidu logo, in this illustration picture taken June 28, 2023. REUTERS/Florence Lo/Illustration/File Photo

Search engine giant Baidu beat quarterly revenue estimates on Tuesday, indicating some recovery in the Chinese advertising market.
Baidu has offset losses through its AI Cloud segment's growth, and in a strategic shift amid intensifying competition, announced last week that its next-generation AI model Ernie will become open-source from June 30, Reuters reported.
Baidu's online marketing business, which contributes the majority of its revenue, stood at 19.34 billion yuan ($2.66 billion). Analysts had estimated 19 billion yuan.
But its revenue that does not depend on online marketing rose 18% to 9.8 billion yuan, largely driven by its AI Cloud business.
The company reported a revenue of 34.12 billion yuan for the fourth quarter, beating analysts' estimate of 33.32 billion yuan, according to data compiled by LSEG.
Baidu's US-listed shares were down about 2% in premarket trading.

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Technology

Brazil to Get Satellite Internet from Chinese Rival to Starlink in 2026

Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado
Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado
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Brazil to Get Satellite Internet from Chinese Rival to Starlink in 2026

Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado
Brazil's new Chief of Staff of the Presidency Rui Costa attends a ministerial meeting at the Planalto Palace in Brasilia, Brazil January 6, 2023. REUTERS/Adriano Machado

Chinese low Earth orbit satellite company SpaceSail will start providing internet access to remote areas in Brazil in the first half of 2026, President Luiz Inacio Lula da Silva's chief of staff, Rui Costa, said on Wednesday, Reuters reported.

SpaceSail and Brazil's state-owned telecom Telebras had signed a memorandum of understanding in late 2024 to offer satellite internet services for schools, hospitals and other essential services in the South American country.

SpaceSail competes directly with Elon Musk's Starlink in the satellite internet market.

Technology

Google Launches First Ever Co-branded Credit Card in India

FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo
FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo
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Google Launches First Ever Co-branded Credit Card in India

FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo
FILE PHOTO: A Google logo is seen at a company research facility in Mountain View, California, US, May 13, 2025. REUTERS/Carlos Barria/File Photo

Alphabet Inc's Google Pay launched its first co-branded digital credit card in India on Wednesday in partnership with Axis Bank, intensifying efforts to monetize its massive user base in the country's crowded fintech sector.

WHY IT'S IMPORTANT

While Google Pay is a dominant player in India's popular domestic payments network, the Unified Payments Interface (UPI), its core service generates zero revenue from user-to-user payments due to government mandates. It, however, earns commissions for in-app services like bill payments and mobile recharges, Reuters reported.

The credit card launch opens a new avenue for Google to monetize its user base, mirroring strategies by domestic rivals Paytm and PhonePe to cross-sell lending products to payment users.

BY THE NUMBERS

India has just 50 million credit card holders, according to Google Pay, whereas its population exceeds 1.4 billion.

Google Pay meanwhile is the second top app in India by number of UPI transactions, having processed nearly 7.2 billion transactions in October alone.

HOW IT WORKS

Axis Bank manages the credit risk and issuance, while the digital-only card will be linked to the Google Pay app to make online and offline payments on the go.

Technology

UK Looks to Restart Cooperation after US Suspends Tech Deal

Pedestrians walk across Westminster Bridge as early morning fog covers the streets of London on December 17, 2025. (Photo by JUSTIN TALLIS / AFP)
Pedestrians walk across Westminster Bridge as early morning fog covers the streets of London on December 17, 2025. (Photo by JUSTIN TALLIS / AFP)
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UK Looks to Restart Cooperation after US Suspends Tech Deal

Pedestrians walk across Westminster Bridge as early morning fog covers the streets of London on December 17, 2025. (Photo by JUSTIN TALLIS / AFP)
Pedestrians walk across Westminster Bridge as early morning fog covers the streets of London on December 17, 2025. (Photo by JUSTIN TALLIS / AFP)

The UK government on Wednesday said it was focused on resuming talks promptly after the United States suspended implementation of a tech cooperation deal with Britain.

The deal was signed during US President Donald Trump's pomp-filled state visit to the UK in September.

But on Tuesday Michael Kratsios, head of the White House Office of Science and Technology Policy, said on X that the UK must make "substantial progress" on trade talks for the deal to resume.

The US and UK have been trying to implement the "Economic Prosperity Deal," agreed in May and one of the first international agreements signed after Trump threatened the world with punishing tariffs on goods entering the United States.

The US-UK Technology Prosperity Deal agreed in September 2025 was a non-binding agreement to sit alongside the broader Economic Prosperity Deal.

It was designed to align the two countries on tech innovation while spurring mostly private-sector investment, Agence France Presse reported.

Following the White House announcement, a UK government spokesperson said: "We look forward to resuming work on this partnership as quickly as possible... and working together to help shape the emerging technologies of the future."

Business and Trade Secretary Peter Kyle held trade talks with US counterparts in Washington DC last week to progress the Economic Prosperity Deal, the spokesperson said.

"They celebrated the success of the recent pharma deal and both sides agreed to continue further negotiations next year."

According to the Financial Times, US officials have become increasingly frustrated with Britain's lack of willingness to address non-tariff barriers, including rules and regulations governing food and industrial goods.