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MOSCOW Chinese President Xi Jinping touted close ties with Russia on the second day of his state visit to Moscow on Tuesday, inviting Russian President Vladimir Putin to make a return visit later this year.

It fits the historical logic that Chinese leaders take Russia as a primary choice for their overseas visits, Mr Xi said, adding that China and Russia are each others biggest neighbour and comprehensive strategic partner, the official Xinhua News Agency reported.

Russias invasion of Ukraine was a major topic for the leaders in more than four hours of talks Monday, according to both sides, with Mr Putin saying before the meeting that hes ready to discuss Chinas initiative for ending the war.

Mr Putin welcomed Mr Xi to the Kremlin on Tuesday afternoon for more discussions. Russian state television showed the two men walking the long red carpets of the Kremlin to shake hands before joining their delegations.

The United States and its allies have rejected Chinas proposals as biased toward Russia.

Mr Xi is expected to speak to Ukrainian President Volodymyr Zelensky for the first time since the February 2022 invasion after his Russia visit.

Mr Xis three-day visit, his first trip abroad since claiming a third term earlier this month, sends a strong signal of support for Mr Putin amid efforts by the US and its allies to isolate the Russian President over his invasion.

Russia has become increasingly dependent on China for trade with other markets cut off, but there were few indications that this visit would bring new deals.

Mr Putin and Mr Xi had an in-depth exchange of views on the Ukraine issue, Chinas Foreign Ministry said in a statement on Tuesday. It added that most countries support easing tensions, but the ministry did not go into further details.

China would continue to strengthen strategic coordination with Russia, Mr Xi also said, according to the statement.

Mr Xi met in the morning Tuesday with Russian Prime Minister Mikhail Mishustin, who called for deepening economic ties and received his own invitation to visit China.

Later Tuesday, the two sides are expected to sign several declarations, and Mr Xi and Mr Putin will make press statements before a state dinner in the Tsarist-era Palace of Facets. Russian President Vladimir Putin (right) meets China’s President Xi Jinping at the Kremlin in Moscow, on March 21, 2023. PHOTO: AFP US National Security Council spokesman John Kirby dismissed the visit as a marriage of convenience.

President Xi finds himself in this weird position wanting the war to end but not wanting Russia to lose, he said on MSNBC.

Chinas ceasefire paper has little detail and largely consists of broader foreign policy positions long espoused by Beijing. While its embrace of the principle of territorial integrity won praise in Kyiv, which seeks to drive Russian forces back across the border, a ceasefire call that would freeze forces in current positions is a non-starter. More On This Topic Putin tells Xi he will discuss Chinas blueprint for ending Ukraine conflict Dear friends Xi and Putin meet in Moscow as Ukraine war rages For Mr Putin, Mr Xi is by far the most significant international leader to visit since the invasion, which triggered Europes deadliest conflict since World War II and waves of sanctions by the US and its allies.

Mr Xis arrival comes just days after the International Criminal Court issued a warrant for Mr Putins arrest on charges of war crimes. Russia has dismissed the move, and China called for the court to avoid politicisation.

The Chinese leader last visited Russia in mid-2019, while Mr Putin went to Beijing in early 2022 to attend the opening of the Winter Olympics. At that meeting, the two leaders agreed to a no-limits friendship and signed a series of long-term energy supply deals.

The two met in September last year at a meeting of the Shanghai Cooperation Organisation, where Mr Putin said he understands Beijings questions and concerns about his invasion of Ukraine, a rare admission of tensions between the diplomatic allies.BLOOMBERG More On This Topic China's Xi to Putin: Russians will support you in 2024 election China's Xi Jinping out to play peacemaker on Russia visit

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City veteran Kheraj in contention to chair banking giant HSBC

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City veteran Kheraj in contention to chair banking giant HSBC

Naguib Kheraj, the City veteran, has been shortlisted to become the next chairman of HSBC Holdings, Europe’s biggest bank.

Sky News can reveal that Mr Kheraj, a former Barclays finance chief, is among a small number of contenders currently being considered to replace Sir Mark Tucker.

HSBC, which has a market capitalisation of £165.4bn, has been conducting a search for Sir Mark’s successor since the start of the year.

Money latest: How Gen Z investors are making their way in property

In June, Sky News revealed that the former McKinsey boss Kevin Sneader was among the candidates being considered to lead the bank, although it was unclear this weekend whether he remained in the process.

Mr Kheraj would, in many respects, be seen as a solid choice for the job.

He is familiar with HSBC’s core markets in Asia, having spent several years on the board of Standard Chartered, the FTSE-100 bank, latterly as deputy chairman.

He also possesses extensive experience as a chairman, having led the privately held pensions insurer Rothesay Life, while he now chairs Petershill Partners, the London-listed private equity investment group backed by Goldman Sachs.

Mr Kheraj’s other interests have included acting as an adviser to the Aga Khan Development Board and The Wellcome Trust, as well as the Financial Services Authority.

He spent 12 years at Barclays, holding board roles for much of that time, before he went on to become chief executive of JP Morgan Cazenove, the London-based investment bank.

HSBC’s shares have soared over the last year, rising by close to 50%, despite the headwinds posed by President Donald Trump’s sweeping global tariffs regime.

In June, the bank said that Sir Mark would be replaced on an interim basis by Brendan Nelson, one of its existing board members, while it continued the search for a permanent successor.

Ann Godbehere, HSBC’s senior independent director, said at the time: “The nomination and corporate governance committee continues to make progress on the succession process for the next HSBC group chair.

“Our focus is on securing the best candidate to lead the board and wider group over the next phase of our growth and development.”

Sky News revealed late last year that MWM, the headhunter founded by Anna Mann, a prominent figure in the executive search sector, was advising HSBC on the process.

Since then, at least one other firm has been drafted in to work on the mandate.

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Sir Mark, who has chaired HSBC since 2017, steps down at the end of next month to become non-executive chair of AIA, the Asian insurer he used to run.

He will continue to advise HSBC’s board during the hunt for his long-term successor.

As a financial behemoth with deep ties to both China and the US, HSBC is deeply exposed to escalating trade and diplomatic tensions between the two countries.

When he was appointed, Mr Tucker became the first outsider to take the post in the bank’s 152-year history – which has a big presence on the high street thanks to its acquisition of the Midland Bank in 1992.

He oversaw a rapid change of leadership, appointing bank veteran John Flint to replace Stuart Gulliver as chief executive.

The transition did not work out, however, with Mr Tucker deciding to sack Mr Flint after just 18 months.

He was replaced on an interim basis by Noel Quinn in the summer of 2018, with that change becoming permanent in April 2020.

Mr Quinn spent a further four years in the post before deciding to step down, and in July 2024 he was succeeded by Georges Elhedery, a long-serving executive in HSBC’s markets unit, and more recently the bank’s chief financial officer.

The new chief’s first big move in the top job was to unveil a sweeping reorganisation of HSBC that sees it reshaped into eastern markets and western markets businesses.

He also decided to merge its commercial and investment banking operations into a single division.

The restructuring, which Mr Elhedery said would “result in a simpler, more dynamic, and agile organisation” has drawn a mixed reaction from analysts, although it has not interrupted a strong run for the stock.

During Sir Mark’s tenure, HSBC has also continued to exit non-core markets, selling operations in countries such as Canada and France as it has sharpened its focus on its Asian businesses.

On Friday, HSBC’s London-listed shares closed at 946.7p.

HSBC has been contacted for comment.

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Global movement to protect kids online fuels a wave of AI safety tech

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Global movement to protect kids online fuels a wave of AI safety tech

Spotify, Reddit and X have all implemented age assurance systems to prevent children from being exposed to inappropriate content.

STR | Nurphoto via Getty Images

The global online safety movement has paved the way for a number of artificial intelligence-powered products designed to keep kids away from potentially harmful things on the internet.

In the U.K., a new piece of legislation called the Online Safety Act imposes a duty of care on tech companies to protect children from age-inappropriate material, hate speech, bullying, fraud, and child sexual abuse material (CSAM). Companies can face fines as high as 10% of their global annual revenue for breaches.

Further afield, landmark regulations aimed at keeping kids safer online are swiftly making their way through the U.S. Congress. One bill, known as the Kids Online Safety Act, would make social media platforms liable for preventing their products from harming children — similar to the Online Safety Act in the U.K.

This push from regulators is increasingly causing something of a rethink at several major tech players. Pornhub and other online pornography giants are blocking all users from accessing their sites unless they go through an age verification system.

Porn sites haven’t been alone in taking action to verify users ages, though. Spotify, Reddit and X have all implemented age assurance systems to prevent children from being exposed to sexually explicit or inappropriate materials.

Such regulatory measures have been met with criticisms from the tech industry — not least due to concerns that they may infringe internet users’ privacy.

Digital ID tech flourishing

At the heart of all these age verification measures is one company: Yoti.

Yoti produces technology that captures selfies and uses artificial intelligence to verify someone’s age based on their facial features. The firm says its AI algorithm, which has been trained on millions of faces, can estimate the age of 13 to 24-year-olds within two years of accuracy.

The firm has previously partnered with the U.K.’s Post Office and is hoping to capitalize on the broader push for government-issued digital ID cards in the U.K. Yoti is not alone in the identity verification software space — other players include Entrust, Persona and iProov. However, the company has been the most prominent provider of age assurance services under the new U.K. regime.

“There is a race on for child safety technology and service providers to earn trust and confidence,” Pete Kenyon, a partner at law firm Cripps, told CNBC. “The new requirements have undoubtedly created a new marketplace and providers are scrambling to make their mark.”

Yet the rise of digital identification methods has also led to concerns over privacy infringements and possible data breaches.

“Substantial privacy issues arise with this technology being used,” said Kenyon. “Trust is key and will only be earned by the use of stringent and effective technical and governance procedures adopted in order to keep personal data safe.”

Read more CNBC tech news

Rani Govender, policy manager for child safety online at British child protection charity NSPCC, said that the technology “already exists” to authenticate users without compromising their privacy.

“Tech companies must make deliberate, ethical choices by choosing solutions that protect children from harm without compromising the privacy of users,” she told CNBC. “The best technology doesn’t just tick boxes; it builds trust.”

Child-safe smartphones

The wave of new tech emerging to prevent children from being exposed to online harms isn’t just limited to software.

Earlier this month, Finnish phone maker HMD Global launched a new smartphone called the Fusion X1, which uses AI to stop kids from filming or sharing nude content or viewing sexually explicit images from the camera, screen and across all apps.

The phone uses technology developed by SafeToNet, a British cybersecurity firm focused on child safety.

Finnish phone maker HMD Global’s new smartphone uses AI to prevent children from being exposed nude or sexually explicit images.

HMD Global

“We believe more needs to be done in this space,” James Robinson, vice president of family vertical at HMD, told CNBC. He stressed that HMD came up with the concept for children’s devices prior to the Online Safety Act entering into force, but noted it was “great to see the government taking greater steps.”

The release of HMD’s child-friendly phone follows heightened momentum in the “smartphone-free” movement, which encourages parents to avoid letting their children own a smartphone.

Going forward, the NSPCC’s Govender says that child safety will become a significant priority for digital behemoths such as Google and Meta.

The tech giants have for years been accused of worsening mental health in children and teens due to the rise of online bullying and social media addiction. They in return argue they’ve taken steps to address these issues through increased parental controls and privacy features.

“For years, tech giants have stood by while harmful and illegal content spread across their platforms, leaving young people exposed and vulnerable,” she told CNBC. “That era of neglect must end.”

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Sports

Deion healthy in return, says Buffs ‘fine’ after loss

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Deion healthy in return, says Buffs 'fine' after loss

BOULDER, Colo. — Deion Sanders ran onto the field with his Colorado team Friday night, just months removed from having surgery to replace and reconstruct his bladder after a tumor was found this spring.

Sanders, 58, jogged past a portable toilet placed next to Colorado’s bench area for him to use during the game, which was sponsored by Depend, the adult incontinence undergarment company. He slowed near the South end zone and gently tapped his players who were kneeling in prayer.

After the most serious health issue in a series of them the past five years, Sanders said he “felt good,” adding, “I don’t feel good right now, but I felt darn good during the game.”

Sanders was miffed that his team didn’t capitalize on early takeaways, convert several big-play opportunities on offense or make nearly enough run stops against Georgia Tech, falling 27-20 in the season opener at Folsom Field.

Sanders coached his first game for Colorado since undergoing surgery in May. He was away from the team for much of late spring and early summer before rejoining the squad for preseason camp. Dr. Janet Kukreja, director of urological oncology at the University of Colorado Cancer Center, said in a news conference in July that Sanders is cured of cancer.

Upon returning, Sanders focused on getting his third Colorado team, and the first without his sons Shedeur and Shilo and 2024 Heisman Trophy winner Travis Hunter, to employ a different play style, based on being more physical at the line of scrimmage. Colorado made some strides Friday, as a rushing offense that had been last in the FBS during Sanders’ tenure generated 146 yards on 31 attempts.

But Colorado allowed 320 rushing yards and three touchdowns to Georgia Tech, including the tiebreaking, game-winning 45-yard dash by quarterback Haynes King with 1:07 left.

“Defensively, no, there’s no way you can say you’re physical when you got your butt kicked like that,” Sanders said. “But offensively, you probably were sitting out there saying, ‘Dang, they should keep running the ball’ because you saw the physicality we’ve been talking about.”

Although Georgia Tech committed turnovers on its first three possessions — becoming the first team to do so in a season opener since Florida International in 2010 — and didn’t reach the end zone until late in the first half, Sanders said, “It’s hard to applaud the defense right now.”

After the three early turnovers, Georgia Tech had three drives of 75 yards or more and a 61-yarder in the closing minutes. Colorado linebacker Reginald Hughes said Georgia Tech’s gap scheme “messed with our eyes a little bit” and caused the Buffaloes not to properly fill several holes in the run game.

“We’re at a good pace, inclining to be the defense that we want,” Hughes said. “We’re not quite there yet. It’s really more so execution with us. We play fast, we get after it. It’s just executing situations. Stuff like that, it shows up later in the game.”

Quarterback Kaidon Salter, a transfer from Liberty making his first start for Colorado and replacing the record-setting Shedeur Sanders, had an early passing touchdown and finished with 159 passing yards and 43 rushing yards on 13 attempts. Deion Sanders noted that Salter could have run even more and been more of a true dual threat.

“Most definitely, I feel like I had those opportunities,” Salter said, “but me being a dual-threat quarterback, keeping my eyes down the field, I felt like I had chances to throw the ball downfield and make some plays.”

Despite Colorado’s significant personnel losses at quarterback and wide receiver, Sanders said the offense doesn’t need time to come together, adding, “We’ve got to go get it and do it right now.”

He said he saw enough good things overall to still expect a strong season.

“We’re definitely going to be fine, I’m not concerned about that,” Sanders said. “We could have won that game. It’s not like we got our butts kicked. They ran the heck out of the ball, they did that, but we had opportunities.”

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