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Exclusive-Chinese brokerage CICC cutting dealmakers' base pay by 25%, sources say

China International Capital Corp (CICC) is cutting the base pay of onshore investment bankers by as much as 25%, three sources said, in a major effort to reduce costs amid volatile markets and Beijing's austerity drive. CICC didn't immediately respond to Reuters' request for comment on Sunday. The salary cuts will affect more than 2,000 bankers, and come after one of the largest investment banks in China by headcount trimmed bankers' bonuses last year by up to 40%, as Reuters reported in April last year. ....

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Ukrainian drones employing AI to strike Russian targets with high precision – CNN

The Ukrainian military has begun employing AI-powered drones for strikes on Russia, enabling precise targeting of specific facilities within Russia's territory. Source: CNN, citing sources Quote: A source close to Ukraine's drone programme said that the Ukrainians have begun integrating a basic form of artificial intelligence into drones, aiding them in navigation and helping avoid jamming. ....

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Media: Ukraine's security services allegedly behind attack on Russian steel plant

Located approximately 400 kilometers from the Russia-Ukraine border, the plant serves as NLMK's primary production facility. It accounts for 80% of NLMK's steel output and contributes 18% to the total Russian steel production. ....

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