Squeezed by new trade rules, shrinking market share and labor concerns, Shein’s share decline in Hong Kong on Tuesday is a sign investors have moved on.

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Fewer audit and disclosure requirements could reduce costs, but experts say they could also help disguise fraud or financial stress.

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The social networking giant projected it could spend $10 billion annually on Anthropic’s tools, illustrating the friend-foe relationships underlying the A.I. race.