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☆ ‘Cabs to get into space’: How this Indian startup wants to revolutionize satellite space travel
▼ + stars: | 2024-04-23 | by ( Amy Gunia | ) edition.cnn.com time to read: +7 min

But its private sector has played a limited role in space exploration, acting mostly as suppliers and vendors for its national space agency, the Indian Space Research Organization (ISRO). “Very few companies globally are able to make it to orbit yet.”Pawan Chandana, the co-founder of Skyroot Aerospace Skyroot Aerospace Pvt. As Indian space startups mature over the coming years, he expects the government to become a customer, enabling further growth. Many private space companies source income from governments, including Space X, which has raked in billions of dollars from US government contracts. In November 2022, Skyroot Aerospace launched India's first privately built rocket, Vikram-S. Skyroot Aerospace Pvt.

Persons: Vikram, ” Pawan Chandana, “, Pawan Chandana, Narendra Modi, ”, Susmita Mohanty, Skyroot, Chandana, ridesharing, Kari Bingen, Modi, Mohanty Organizations: CNN, Indian Space Research Organization, ISRO, Elon, SpaceX, Skyroot Aerospace, Skyroot Aerospace Skyroot Aerospace, . Ltd, McKinsey & Company, Economic, ’, LEO —, Vikram Sarabhai, Aerospace Security, Center for Strategic, International Studies, Deloitte, India’s, NASA Locations: India, United States, Hyderabad, Thiruvananthapuram, Singapore

☆ India's Zee Entertainment urges Sony to restore blockbuster merger, sues over termination
▼ + stars: | 2024-01-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Indian entertainment conglomerate Zee Entertainment on Wednesday said it urged Sony to revive their blockbuster entertainment merger and has sued the Japanese tech giant over the deal's termination. Sony earlier this week called of the transaction with Zee Entertainment, which is reported to be worth $10 billion. In a filing, Zee said it denies that Sony is entitled to call off the merger agreement and that its claim for a termination fee is "legally untenable and has no basis whatsoever." A merger of Zee with Sony's India subsidiary, Culver Max Entertainment Pvt. Sony would have gained access to Zee's local content, giving it a bigger footing in the lucrative Indian entertainment market.

Persons: Zee, Culver Max, BEPL, Punit Goenka, Arjun Kharpal Organizations: Zee Entertainment, Sony, Zee Entertainment Enterprises, Sony's, CNBC Wednesday, Culver, MCA, Company, Singapore International Arbitration Center, Zee, Culver Max Entertainment, Ltd, Bangla Entertainment, Disney, Reliance Industries Locations: India, Zee, Singapore, Sony's India

☆ From transparent TVs to ChatGPT-powered pet companions, here’s some of the buzziest tech of CES 2024
▼ + stars: | 2024-01-11 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +10 min

Here’s a look at some of the buzziest products announced this week:Loona companion robot is the world's first consumer robot equipped with ChatGPT AI technology. From Beijing KEYi Technology Co. Ltd.AI companionsAI companions are one of the biggest trends to emerge from the show this year. Samsung’s buzzy Ballie robot, which was first shown off at CES in 2020, received a refresh. BaracodaAI task robotsBeyond companions, AI has made its way into nearly every appliance and gadget you could think of this year. LG was one of the first leaders in transparent TVs; one of its earlier prototypes impressed the show floor back in 2020.

Persons: it’s, Loona, Rosie, Samsung’s, Dipanjan Chatterjee, ”, Volkwagen, Mercedes Benz, Chatterjee, ” Honda, VinFast, “ There’s, Jon Erensen, EssilorLuxottica, Francesco Milleri, Evie, Steve Jobs, Cook, Christoph Dernbach, “, Jitesh Ubrani, ” Ubrani, CNN’s Peter Valdes, Dapena Organizations: CNN — Tech, Consumer Electronics, Beijing KEYi Technology, ., LG, CES, Forrester Research, Walmart, Nvidia, AMD, Honda, VinFast, Fiat, Samsung, Gartner, Media, Apple Vision, Steve, Apple, IDC, Sony, Qualcomm Locations: Las Vegas, Beijing, USA, Cupertino, Cupertino ., Apple's, United States

☆ Toyota says it halts some Tianjin operations after report of weak sales
▼ + stars: | 2023-12-02 | by ( ) www.reuters.com time to read: +1 min

[1/2] A sign is seen outside a Tianjin Faw Toyota Motor Co. Ltd showroom, a joint venture between China's Tianjin FAW Xiali Automobile Co Ltd and Japan's automaker Toyota Motor Corp, in central Beijing October 9, 2012. The production halt at the Tianjin venture with China's FAW was a planned move, and Toyota is adjusting production based on "changes in the composition of vehicle models", a spokesperson said by email. Japan's Jiji news service said on Friday the world's largest automaker by sales was suspending some production as part of a major production adjustment in response to weak sales of gasoline-engine cars. Reuters reported last month that Toyota had told dealers it would extend a plan to reduce output at the FAW venture. Slowing sales pose a growing challenge to Toyota in China which accounted for nearly a fifth of Toyota's worldwide sales of about 8.5 million vehicles over the first 10 months of the year, including sales of its luxury Lexus brand.

Persons: David Gray, David Kirton, Brenda Goh Organizations: Tianjin Faw Toyota Motor Co, China's Tianjin FAW Xiali Automobile Co Ltd, Japan's, Toyota Motor Corp, REUTERS, Rights, Toyota, China's FAW, FAW, Reuters, Lexus, Thomson Locations: Beijing, Rights SHENZHEN, China, Tianjin, Shenzhen, Shanghai

DETROIT (AP) — Ford Motor Co. is resuming construction on a Michigan electric vehicle battery plant that the company postponed two months ago during a strike by the United Auto Workers union. But the automaker says that due to slowing electric vehicle sales growth, it will scale back the factory size, cutting the number of planned jobs by about one third from 2,500 to 1,700. Ford put the plant, originally to cost $3.5b, on hold in late September as the union went on strike at targeted assembly plants run by Ford, General Motors and Jeep maker Stellantis. Unlike the company's other battery plants that are joint ventures, the Marshall factory will be a fully owned Ford subsidiary staffed by Ford workers. But China’s Contemporary Amperex Technology Co. Ltd., or CATL, which is known for its lithium-iron-phosphate expertise, would supply technology, some equipment and workers.

Persons: —, Ford, Mark Truby, ”, Marshall Organizations: DETROIT, — Ford Motor Co, United Auto Workers, Ford, General Motors, EV, Amperex Technology, . Ltd Locations: Michigan, Marshall, Detroit

[1/8] Waste from international clothing brands is stored before being used to fuel kilns at a brick factory on the outskirts of Phnom Penh, Cambodia November 17, 2023. It found pre-consumer garment waste including fabric, plastic, rubber, and other materials from the brands was being burned at seven factories. The factories were burning garment waste to save on fuel costs, it said. Brick factory workers reported regular migraines, nosebleeds, and other illnesses, the UK report said. LPP said it was unaware its textile waste was being burned in brick kilns, and has contacted its agents responsible for placing orders in Cambodia.

Persons: Lululemon, Co's, Betty, Tilley Endurables, Armour, Lidl, LICADHO, LPP, Tilley, Clare Baldwin, Helen Reid, Katherine Masters Organizations: Cambodian League, Promotion, of Human, REUTERS Acquire, Adidas, Walmart, The Cambodian League, of Human Rights, Reuters, UNDP, Royal Holloway, University of London, Navy, Lidl Stiftung, Reebok, Venus, World, Cambodian Ministry of Environment, Sarom Trading, Thomson Locations: Phnom Penh, Cambodia, Cambodian, Kandal

☆ Vale Canada, Sumitomo Metal sign initial deal to sell 14% stake in Indonesian nickel miner
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ritsuko Shimizu/File Photo Acquire Licensing RightsJAKARTA, Nov 17 (Reuters) - Mining company Vale Base Metals said its unit Vale Canada Ltd and Japan's Sumitomo Metal Mining Co. Ltd signed an initial agreement on Friday to sell a 14% stake in their Indonesian nickel mining unit to Indonesia's state miner. Share divestment is a condition required by Indonesia to extend Vale Indonesia's mining permit, which is currently due to end in 2025. Upon completion, MIND ID will become the largest shareholder of Vale Indonesia with 34% of shares, up from 20%. Around 20% of Vale Indonesia's shares are publicly traded. Vale Base Metals is committing around $10 billion of investment in Indonesia over the next decade.

Persons: Ritsuko Shimizu, Deshnee Naidoo, Fransiska Nangoy, Kirsten Donovan Organizations: Sumitomo Metal Mining, REUTERS, Rights, Base Metals, Vale Canada, Japan's Sumitomo Metal Mining Co . Ltd, Vale, Sumitomo, Mineral Industri, Vale Base Metals, Thomson Locations: Tokyo, Japan, Rights JAKARTA, Vale Canada, Mineral Industri Indonesia, Indonesia, Vale Indonesia, Indonesian

☆ How an Indian startup hacked the world
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +41 min

The Indian company hacked on an industrial scale, stealing data from political leaders, international executives, prominent attorneys and more. Run by a pair of brothers, Rajat and Anuj Khare, the company began as a small Indian educational startup. The Indian company hacked on an industrial scale, stealing data from political leaders, international executives, sports figures and more. Back in 2012, Kristi Rogers was an executive at Aegis, a London-based security company. Canadian security company GardaWorld, which acquired Aegis in 2015, said it had no information on the incident.

Persons: Chuck Randall, Randall, “, ” Randall, ”, Randall’s inbox, Appin, Rajat, Anuj Khare, Rajat Khare’s, Clare Locke, Khare “, Khare, ” Clare Locke, Ted Kaczynski, Anuj, who’ve, SentinelOne, Tom Hegel, Appin “, Hegel, Mandiant, ” Hegel, Shane Huntley, ” Huntley, Google’s Huntley, ‘, Jochi Gómez, Gómez, Halevi, Tamir Mor, Russian oligarch Boris Berezovsky, Mohamed Azmin Ali, ” Mor, Berezovsky, Azmin, Mor, Roman Abramovich, Mark Hastings, Hastings, didn’t, Jim H, ” Jim H, Jim H’s, Kristi Rogers, Mike Rogers, he’s, Global’s, sully, Rogers, Damian Perl, – “, Steven Santarpia, ” Santarpia, Santarpia, Leonel Fernández, ” Fernández, Rajat Khare, “ Let’s, Ministry of Home Affairs didn’t, Peter Hargitay, Stevie, Billing, ” Stevie, ’, ” Peter Hargitay, Mookhey, Norman Shark, Jonathan Camp, Shark, Camp, Norman, Dominican Republic –, Dan Brady, Sandra Schweingruber, ” Schweingruber, Schweingruber, Brady, ” Gómez, –, ” –, Anna Carter, Mark Califano, ” Rajat Khare’s, India’s, Educomp, Karen Hunter, Hunter, Bryan, Rajat’s, Vijay Kumar, Deepak Kumar, Kumar, ACSG, Jay Solomon, Solomon, ” Rebsec’s, Vishavdeep Singh, Rebsec, CyberRoot, Sumit Gupta, Gupta, Raphael Satter, Zeba Siddiqui, Christopher Bing, Ryan McNeill, Corinne Perkins, John Emerson, Marla Dickerson Organizations: Reuters, Google, Harvard University, U.S, Symantec, Appin, Caribbean, El, Israeli Defense Forces, Commando, Quillon Law, U.S . House Intelligence, The Michigan Republican, U.S . Senate, Aegis, Global Security, Security, Rogers, Army Corps of Engineers, Rotary, Aegis ’, Global, ” Reuters, Britain’s, Appin Software Security, Ltd, Appin Security, –, Research, Analysis, Intelligence Bureau, Indian, India’s Ministry of Home Affairs, India’s Ministry of Defense, of Home Affairs, Central Bureau of Investigation, CBI, Federal Bureau of Investigation, Ministry of Home Affairs, Telenor, Broadcom, FBI, Dominican, Criminal Investigation Service, Appin Security Group, CERT, country’s, Bureau of Investigation, Educomp, State Bank of India, State Bank, The National Security Agency, NSA, U.S ., Swiss, Appin Technology, India’s Ministry, Corporate Affairs, Control Security Global, Technology, Kumar, Facebook, Meta, BellTroX, Services, Street, New, Rebsec, BellTroX’s, Hire Locations: Long, New Delhi, India, Yorker, Paris, Swiss, cybersecurity, Appin, Dominican, California, “, Dominican Republic, El Siglo, United States, Britain, Switzerland, New York, French, New Jersey, Israel, Russian, Malaysian, London, Rwandan, Virginia, Canadian, Chuck@shinnecock.org, Texas, Indian, India’s Punjab, Pakistan, Zurich, Australia, Norway, Oslo, Brady, Former, ”, U.S, Islip, Shinnecock, Washington, cyberespionage

☆ China's LONGi jumps on probe into Hillhouse unit's stake transfer
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

Shares of the solar energy firm rose nearly 5% in morning trade after it said HHLR Management Pte. Ltd was being investigated by the China Securities Regulatory Commission (CSRC) for violating share transfer rules. Singapore-based HHLR Management is part of Chinese investment giant Hillhouse's public investment arm HHLR. HHLR Management was notified by the CSRC of the investigation on suspected rule violations on Wednesday, LONGi said, without giving details. HHLR Management held a 4.98% stake in LONGi at the end of September, compared with 5.85% at the end of 2022, according to filings.

Persons: Hillhouse, LONGi, Zhang Lei, didn't, Samuel Shen, Varun Organizations: Green Energy Technology, Management, China Securities Regulatory Commission, HHLR Management, Reuters, Pionner Driving, Thomson Locations: SHANGHAI, HONG KONG, Singapore, Nanjing, LONGi, Shanghai, Shenzhen, Summer, Hong Kong

☆ McDonald's caught up in Israel-Hamas war as franchisees in the Middle East pledge aid to different sides
▼ + stars: | 2023-10-16 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Last week, McDonald's Israel began donating meals daily to the Israel Defence Forces. Two days later, McDonald's Oman said it had donated $100,000 to help the people of Gaza. "We stand with Gaza in these difficult times," McDonald's Oman said in a statement posted on X, formerly known as Twitter. Meanwhile, McDonald's Israel said it will continue donating thousands of meals daily to "our forces across the country." As the two McDonald's franchise groups back different sides of the Israel-Hamas war, McDonald's Pakistan weighed in by distancing itself from McDonald's Israel.

Persons: McDonald's Israel, McDonald's, —, Al Daud, Benjamin Netanyahu Organizations: Israel Defence Forces, Service, McDonald's, SIZA Foods, . Ltd ., McDonald's Corp Locations: McDonald's Oman, Gaza, Israel, Oman, Pakistan, . Ltd . Pakistan, Chicago

☆ GM reportedly slammed Ford over its plan to use Chinese battery technology in EVs
▼ + stars: | 2023-09-28 | by ( Hayley Peterson | Nora Naughton | ) www.businessinsider.com time to read: +4 min

General Motors and Ford appear to be feuding over the use of Chinese battery technology in electric cars. AdvertisementAdvertisementGeneral Motors and Ford appear to be at odds over the use of Chinese battery technology in electric cars. It's not clear yet whether that means Ford's use of Chinese battery tech will disqualify some of its cars. China at the bargaining tableFord halted construction on a new battery plant in Michigan this week as Republican lawmakers apply more scrutiny to the company's ties to a Chinese battery maker. When Ford announced the $3.5 billion EV battery plant earlier this year, the company said it would be contracting battery technology from China's Contemporary Amperex Technology Co. Ltd., or CATL.

Persons: —, Mary Barra, GM's, Jim Farley, Biden, what's, We're Ford, Chris Smith, Ford, GM didn't, T.R, Reid, Shawn Fain, Fain Organizations: Motors, Ford, GM, Service, Wall Street Journal, Ford Motor, EVs, Amperex Technology, . Ltd, Bloomberg, United Auto Workers, Detroit, UAW Locations: China, America, Michigan, Marshall , Michigan, Dearborn , Michigan

☆ US adds three Chinese companies to forced labor entity list involving Uyghurs
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Sept 26 (Reuters) - The United States has added three Chinese companies to the forced labor entity list involving Uyghurs, according to a government posting on Tuesday, as part of an effort to eliminate forced labor practices the U.S. supply chain. The action targets Xinjiang Tianmian Foundation Textile Co, Ltd; Xinjiang Tianshan Wool Textile Co. Ltd, and Xinjiang Zhongtai Group Co. Ltd, according to the post. A 2021 law, the Uyghur Forced Labor Prevention Act Entity List (UFLPA), prohibits U.S. imports that are either produced in Xinjiang or by companies identified on the list, unless the importer can prove the goods were not produced with forced labor. The list identifies entities working with the government of the Xinjiang Uyghur Autonomous Region to recruit and transport Uyghurs, Kazakhs, Kyrgyz, or members of other persecuted groups out of the region. U.S. officials believe Chinese authorities have established labor camps for Uyghurs and other Muslim minority groups in Xinjiang, China.

Persons: Doina Chiacu, Karen Freifeld, Susan Heavey Organizations: United, Foundation Textile Co, Wool, Co ., Xinjiang Zhongtai, Labor, U.S, Thomson Locations: United States, Xinjiang, Xinjiang Uyghur Autonomous Region, U.S, China, Beijing

DETROIT (AP) — Ford Motor Co. said Monday that it's pausing construction of a $3.5 billion electric vehicle battery plant in Michigan until it is confident it can run the factory competitively. The move comes as the company is in the midst of national contract talks with the United Auto Workers union, which wants to represent workers at battery factories and win them top wages. In February, Ford announced plans to build the plant in Marshall, Michigan, employing about 2,500 workers to make lower-cost batteries for a variety of new and existing vehicles. But Ford spokesman TR Reid confirmed Monday that plant construction has been paused and spending has been limited on it. Earlier this year Virginia dropped out of the race for the same Ford plant after Republican Gov.

Persons: —, Ford, Marshall, TR Reid, ”, Shawn Fain, Sarah Lightner, Ford “, “, ” Lightner, Sam Abuelsamid, Abuelsamid, Biden, Glenn Youngkin, Joey Cappelletti, David Koenig Organizations: DETROIT, — Ford Motor, United Auto Workers union, UAW, Ford, Detroit, General Motors, EV, Amperex Technology, . Ltd, Republican State Rep, Guidehouse, Republican Gov, Chinese Communist Party, ____ Associated Press Locations: Michigan, Marshall , Michigan, Detroit, Marshall, China, U.S, Virginia, Lansing , Michigan, Dallas

But a person who worked closely with Ramaswamy said, "He thinks people are put on this earth to serve him." Roivant attracted investors including Masayoshi Son's SoftBank Vision Fund, Peter Thiel's Founders Fund, and the hedge fund Viking Global Investors. Former Roivant employees said Ramaswamy worked hard and expected the same of others. McLaughlin called the employee's recollection "inaccurate," adding that Ramaswamy "has never once raised his voice or used bad language with employees." At Roivant, Ramaswamy kept his politics largely to himself, former employees said.

Persons: Vivek Ramaswamy, Ramaswamy, He's, Donald Trump, Mike Pence, Nikki Haley, Ron DeSantis, Trump, George Soros, didn't, Taco Bell, he's, —, Vivek, Tricia McLaughlin, he'd, McLaughlin, takeout, Forbes, Vivek doesn't, they've, Roivant, Masayoshi, Peter Thiel's, Thiel, JD Vance, Bill Ackman, who'd, . Ramaswamy, Erik Gordon, Vance, John Phillips, Joyce Rosely, Phillips, Anson Frericks, they'd, Rosely, Frericks, They're, they're, Eric Balchunas, Todd Rosenbluth, Rosenbluth, Christopher Lenzo, Brandon Bell, Vivek Ramaswamy's, Katherine Long, Jack Newsham, Meghan Morris Organizations: pharma, Army Rangers, Biotech, Republican, nab, GOP, of Education, FBI, Nuclear Regulatory Commission, Federal Reserve, Florida, Roivant Sciences, General Electric, Yale Law School, Army, Rangers, Harvard, Yale, Fund, Viking Global, Leerink Partners, GlaxoSmithKline, Forbes, Big Pharma, Japan's Sumitomo Pharma Co, ., University of Michigan, FDA, US, Yale Law, ESG, The, Texas, Indiana, BlackRock, Vanguard, Bloomberg Intelligence, Fair, SEC Locations: Mexico, FiveThirtyEight, Roivant, Patagonia, Iowa, New York, Ohio, The Lever

The Mate 60 is priced from 5,999 yuan ($817.70), the same as Apple's iPhone 14 in China. Huawei's launch also comes days before Apple is expected to launch its new iPhone 15 on Sept. 12.WHO ARE THE MATE 60'S SUPPLIERS? The Mate 60 Pro contains more Chinese-made chip components than previous models, TechInsights also said. WHAT COULD IT MEAN FOR APPLE IN CHINA'S SMARTPHONE MARKET? And cumulative shipments of Mate 60 Pro could reach at least 12 million units 12 months after launch, according to Kuo.

Persons: TechInsights, Chi Kuo, Kuo, Yelin Mo, Brenda Goh, Emelia Sithole Organizations: China's Huawei Technologies, Apple, Huawei, Semiconductor Manufacturing International Corp, HK, WHO, South Korea's SK Hynix's, SK Hynix, Dongguan Chitwing Technology, ., Visionox Technology, Reuters, TF International Securities, Thomson Locations: BEIJING, SHANGHAI, China, Kirin, SMIC, South, United States, Dongguan, Suzhou, U.S, Washington, Beijing

☆ Shareholders ask China's Hollysys to set special meeting amid takeover frustration
▼ + stars: | 2023-08-30 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

NEW YORK, Aug 30(Reuters) - Shareholders in China's Hollysys Automation Technologies owning a total 32.2% of the automation control system maker's shares asked the board of directors to set a special shareholder meeting, according to a letter seen by Reuters. Asking for a special meeting is a highly unusual step and signals shareholders' mounting frustration with management of the U.S.-listed company, which has received takeover bids but which has not started a sales process, people familiar with the matter said. A year ago Hollysys management was ready to take the company private at a $1.8 billion valuation, Reuters reported, but nothing has happened since then. Registered shareholders have a statutory right under section 82 of the BVI Business Companies Act (British Virgin Islands) to require the Hollysys board to convene a shareholder meeting. Any shareholder also has a statutory right to apply to the court for an order requiring a shareholder meeting to be held on the basis that it is in the interest of the shareholders that such a meeting be held.

Persons: Conyers, Pearman, Hollysys, Svea Herbst, Bayliss, Louise Heavens Organizations: Automation Technologies, Reuters, Oasis Management, Maso, Company, Technology, . Ltd, Dazheng Group Investment Holdings Company, Act, Svea, Thomson Locations: U.S, United States, Cayman Islands, China, Virgin

A man walks past a No Entry traffic sign near the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. Evergrande's offshore debt restructuring involves a total of $31.7 billion, which include bonds, collaterals and repurchase obligations. Evergrande announced an offshore debt restructuring plan in March, expecting it to facilitate a gradual resumption of operations and generation of cash flow. Trading in China Evergrande shares has been suspended since March 2022. Shares of Evergrande Services (6666.HK) plunged as much as 20% on Friday, while China Evergrande New Energy Vehicle Group (0708.HK) lost as much as 17%.

Persons: Aly, Evergrande, Morgan Stanley, HSI, Clare Jim, Jonathan Stempel, Dietrich Knauth, Manya, Sumeet Chatterjee, Shri Navaratnam Organizations: China Evergrande Group, REUTERS, HONG KONG, China Evergrande, HK, Longfor, Tianji Holdings, British Virgin Islands, Co ., Evergrande Services, Energy Vehicle Group, Manya Saini, Thomson Locations: China, Shenzhen, Guangdong province, Asia, HONG, U.S, United States, Beijing, Manhattan, Hong Kong, Cayman Islands, British Virgin, Land, New York, Trading, Bengaluru

A man walks past a No Entry traffic sign near the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. The developer's offshore debt restructuring involves a total of $31.7 billion, which include bonds, collaterals and repurchase obligationsThe sources declined to be named due to the sensitivity of the matter. DEBT RESTRUCTURINGEvergrande announced an offshore debt restructuring plan in March, expecting it to facilitate a gradual resumption of operations and generation of cash flow. Trading in China Evergrande shares has been suspended since March 2022. Shares of Evergrande Services (6666.HK) plunged more than 12%, while China Evergrande New Energy Vehicle Group (0708.HK) dropped 8% on Friday.

Persons: Aly, Evergrande, Morgan Stanley, Hong, Clare Jim, Jonathan Stempel, Dietrich Knauth, Manya, Sumeet Chatterjee, Shri Navaratnam Organizations: China Evergrande Group, REUTERS, HONG KONG, China Evergrande, HK, British Virgin, Tianji Holdings, British Virgin Islands, Co ., Evergrande Services, Energy Vehicle Group, Manya Saini, Thomson Locations: China, Shenzhen, Guangdong province, HONG, U.S, United States, Hong Kong, British, Manhattan, Cayman Islands, British Virgin, Land, New York, Trading, Bengaluru

A Pakistan International Airlines (PIA) passenger plane prepares to take off from the Benazir International airport in Islamabad, Pakistan, February 9, 2016. REUTERS/Faisal Mahmood/File PhotoISLAMABAD, Aug 7 (Reuters) - Pakistan plans to privatise its loss-making national carrier Pakistan International Airlines (PIAa.PSX), the government said on Monday, as the country also seeks to outsource its airport operations in line with an IMF deal. The privatisation decision was taken at a meeting of the Cabinet Committee of Privatisation chaired by Finance Minister Ishaq Dar. The committee "after deliberation decided to include Pakistan International Airlines Co. Ltd in the list of active privatisation projects of the ongoing privatisation programme, following an amendment in the law by the Parliament," a finance ministry statement said. Pakistan hopes to resume PIA flights to Britain in the next three months after services were suspended following a fake pilot scandal.

Persons: Faisal Mahmood, Ishaq Dar, Asif Shahzad, Baranjot Kaur, David Goodman, Mark Potter, Alistair Bell Organizations: Pakistan International Airlines, PIA, Benazir, REUTERS, Finance, Pakistan International Airlines Co . Ltd, PIAInvestment, European Union's Aviation Safety Agency, International Monetary Fund, Pakistan, Baranjot, Thomson Locations: Islamabad, Pakistan, ISLAMABAD, , New York, Britain, Europe, Bengaluru

☆ Shein parent company wants to force Twitter to reveal who is behind fake accounts impersonating the fast fashion brand
▼ + stars: | 2023-07-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

The parent company of Shein has accused rival fast fashion company Temu of online impersonation. Shein is also suing Twitter to reveal whether Temu was behind fake accounts that used its trademark. Ltd., the Singapore-based parent company of the Chinese brand Shein, argues that fake Twitter accounts use Shein trademarks to advertise non-Shein products and damage the brand's reputation. Accounts accused of impersonating the Shein brand have been suspended. "We understand that any further attempt to resolve this without Court intervention is futile," Roadget Business lawyers ominously wrote to Twitter's legal team in May.

Persons: Shein, Temu, —, Katherine Tangalakis, ominously Organizations: Twitter, Service, Shein, Roadget, Ltd, Roadget Business, Lippert, Temu Locations: Wall, Silicon, Singapore

☆ Factbox: China's major germanium and gallium producers
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +3 min

China produces around 60% of the world's germanium, or 180 metric tons in 2022, and over 90% of the world's gallium, about 606 tons last year, according to research firm Antaike. YUNNAN GERMANIUM, AN ESTABLISHED PRODUCERHeadquartered in southwest China's Yunnan province, Yunnan Lincang Xinyuan Germanium Industry Co. Ltd. (002428.SZ) extracts germanium from its own germanium mines and germanium-containing lignite coal mines. It has an annual capacity of 47.6 metric tons of germanium ingot, 60 tons of germanium tetrahydride - used to build 5G infrastructure - and 300,000 germanium wafers for solar cells. CHINALCO, A MAJOR GALLIUM PRODUCERState aluminium giant Chinalco has three gallium production plants, one each in central China's Henan and southwestern Guangxi and Guizhou provinces. It has annual production capacity of 200 metric tons of gallium metal and produced 146 metric tons in 2022.

Persons: Duan Xiangdong, Hope, Zhuzhou, Dominique Patton, David Evans Organizations: . Ltd, Aluminum Corporation of China, Zhuhai Fangyuan, Xing'an, Gallium, AXT Inc, Beijing, Thomson Locations: BEIJING, China, YUNNAN, China's Yunnan, Yunnan, China's Henan, Guangxi, Guizhou, Shanghai, Zhuzhou, China's Hunan, Zhuhai, Guangdong, Shanxi, Nanjing, U.S, Beijing

☆ Temasek-backed firms buy stake in VIVA Biotech unit ahead of listing
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +2 min

VIVA Biotech said it will use the net proceeds to redeem convertible bonds in a bid "to settle its outstanding liabilities without occupying its internal resources." The deal included capital injection into VIVA Shanghai by new investors and sale of existing interest in VIVA Shanghai from Viva Investment, another unit of VIVA Biotech, the filing showed. Ltd, will altogether hold 17.55% stake in VIVA Shanghai after the deal, according the filing. HLC SPV and Qingdao Hongyi, both linked to HighLight Capital, will obtain a total of 6.66% stake from the transaction. VIVA Biotech has initiated a restructuring which will transfer all assets and personnel related to its early-stage drug discovery business to VIVA Shanghai, and move out of the Shanghai unit any assets and personnel related to drug development and manufacturing service, the filing showed.

Persons: Roxanne Liu, Kane Wu, Stephen Coates Organizations: Singapore's Temasek, Capital, VIVA Biotech Holdings, HK, VIVA, VIVA Shanghai, VIVA Biotech, Viva Investment, Daxue Investments, Temasek Holdings, Temasek, Ltd, SPV, Qingdao Hongyi, Investors, Thomson Locations: Shanghai, Viva

☆ Lawyer apologizes for fake court citations from ChatGPT
▼ + stars: | 2023-05-27 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —The meteoric rise of ChatGPT is shaking up multiple industries – including law, as one attorney recently found out. Steven Schwartz, an attorney with Levidow, Levidow & Oberman and licensed in New York for over three decades, handled Mata’s representation. Schwart’s affidavit Wednesday contained screenshots of the attorney appearing to confirm the authenticity of the case with ChatGPT. “is varghese a real case,” Schwartz asked the chatbot. 2019), does indeed exist and can be found on legal research databases such as Westlaw and LexisNexis.

☆ Do Kwon, Jailed Crypto CEO, Rejects SEC Fraud Allegations
▼ + stars: | 2023-04-22 | by ( Alexander Osipovich | ) www.wsj.com time to read: 1 min

Do Kwon was arrested in Montenegro last month. Photo: boris pejovic/ShutterstockLawyers for crypto entrepreneur Do Kwon asked a judge to throw out a U.S. regulator’s lawsuit accusing him of fraud in connection with last year’s $40 billion collapse of the TerraUSD and Luna cryptocurrencies. In a Friday evening court filing, Mr. Kwon’s lawyers said the Securities and Exchange Commission exceeded its authority when it sued him and his company, Terraform Labs Pte. Ltd., and failed to prove that they had defrauded U.S. investors.

☆ Shares in China's 360 Security slump after founder's divorce deal
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, April 6 (Reuters) - Shares in Chinese cybersecurity company 360 Security Technology (601360.SS) plunged on Thursday after the firm announced that its billionaire founder Zhou Hongyi and his wife were divorcing and that he would give her a 6.25% share. Shares in 360 Security, China's largest provider of cybersecurity products, fell by as much as 7.8%, its biggest one day fall since February. Zhou founded 360 Security Technology in 2005. The company was listed on the New York Stock Exchange in 2011 and returned to Chinese stock markets in 2018 through a back door listing. ($1 = 6.8804 Chinese yuan renminbi)Reporting by Shanghai Newsroom; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

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