EconomyPolicyTrade

China’s Iron Ore Price Push May Backfire As Miners Weigh Alliance

China’s campaign to lower iron ore prices may produce the opposite effect as major miners consider merging assets. Analysts suggest a Pilbara alliance could strengthen miner bargaining power against China’s purchasing consortium.

China’s Price Strategy Faces Potential Backfire

China’s efforts to force down iron ore prices could inadvertently keep prices elevated or push them higher, according to financial analysts. The newly formed China Mineral Resources Group (CMRG), which coordinates over 85% of China’s iron ore purchases, has been demanding price reductions and payment in Chinese currency rather than U.S. dollars.

AISoftwareTechnology

Yelp Expands AI Integration with Enhanced Chatbot and Automated Services

Yelp is significantly expanding its artificial intelligence capabilities with multiple new features rolling out this fall. The platform has enhanced its Yelp Assistant chatbot and introduced AI-powered calling services for businesses. Additionally, Menu Vision technology will allow users to scan restaurant menus with their phone cameras to view dish photos and reviews.

Yelp’s AI-Powered Transformation

Yelp is deepening its commitment to artificial intelligence with a comprehensive fall product update that introduces several enhanced features, according to reports. The review platform is upgrading its Yelp Assistant chatbot and rolling out new AI-powered calling services for businesses, signaling a significant shift toward automated customer service solutions. Sources indicate these developments represent Yelp’s continued investment in artificial intelligence technologies throughout 2023.