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☆ This company is using the AI that powers ChatGPT to help warehouse robots expect the unexpected
▼ + stars: | 2024-03-17 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

This story is available exclusively to Business Insider subscribers. Since its founding, Covaraint has secured around $222 million in funding, Business Insider previously reported. And the company's software already powers sorting robots in warehouses across the globe, according to the Times. AdvertisementBut by relying on the same underlying technology ChatGPT uses, the robots powered by Covariant's software can learn through trial and error. A spokesperson for Covariant did not respond to a request for comment from Business Insider.

Persons: —, ChatGPT, Pieter Abbeel, Peter Chen, Rocky Duan, Tianhao Zhang, Abbeel, Chen, Duan, Covaraint Organizations: Service, The New York Times, Business, Times, The Times, YouTube, University of California Locations: California, The, Berkeley

China has decommissioned 70.45 gigawatts (GW) of coal-fired plants in the last decade, and is building far more renewable energy capacity than any other country. Coal power makes up about 70% of emissions in China, which has committed to being carbon neutral by 2060. After 2025, it is unclear whether China will approve new coal plants. But like many cities in China's coal country, coal revenues and jobs are an incentive to keep building. Several workers in Yulin expressed little doubt about whether new coal plants make economic and environmental sense.

Persons: Li, Gao Yuhe, Xu Mingjun, China's, Xie Zhenhua, Yuheng, Duan, Colleen Howe, Ella Cao, David Stanway, Tony Munroe, Gerry Doyle Organizations: Reuters, Greenpeace, Shenhua Energy, Global Energy Monitor, Development and Research Center, Shaanxi Yulin Energy, Shaanxi Daily, Thomson Locations: YULIN, China, Yulin, Yangquan, Shanxi, Dubai, Ukraine, Canada, Shaanxi, China's, Beijing, Singapore

☆ China firm launches stock indices to tap into rush for safe-haven gold
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

A man cuts open the bag after he bought 50 gram gold bars as an investment in Beijing, China, August 5, 2019. The new indexes (.CSI931493), (.CSI931413), launched by the China Securities Index Co, include shares of global gold miners such as Newmont Corporation (NEM.N) and Barrick Gold . "Gold is the brightest asset at the moment... promising much better returns than Chinese property or the broad stock market," said Shihua Duan, general manager of Shanghai Changer Invest. China Asset Management Co and Maxwealth Fund Management Co last month launched China's first exchange-traded funds (ETFs) (517520.SS) that invest in gold stocks. "Buying the gold bar is the safest among so many investment choices," said gold investor Jack Liu, who spent 230,000 yuan ($31,425) on a gold bar in September.

Persons: Jason Lee, Shihua Duan, Jack Liu, Jason Xue, Samuel Shen, Miral Organizations: REUTERS, Rights, China Securities Index, Newmont Corporation, Barrick, Miners, Invest, China Asset Management, Maxwealth Fund Management Co, Beijing, Thomson Locations: Beijing, China, Shanghai, Ukraine, Summer, Hong Kong

Investors at six large asset managers - Pictet, BNP Paribas Asset Management, Janus Henderson, J.P. Morgan Asset Management, Invesco and RBC - told Reuters they have neither reduced nor added to their China weighting following recent measures to support the economy. "While the overall picture is grim, bearishness around Chinese equities may have reached a local peak and we therefore are refraining from cutting our exposure," said Dong Chen, head of Asia macroeconomic research at Pictet Wealth Management. SEEKING ALTERNATIVESOthers have meanwhile sought out opportunities in markets outside of China, but that trend is showing signs of ebbing. "With attitudes towards China currently so weak, equities valuations could be quite sensitive to signs that corporate fundamentals are starting to improve." ($1 = 7.2910 Chinese yuan renminbi)Reporting by Summer Zhen in Hong Kong and Rae Wee in Singapore; Editing by Tom Westbrook and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Janus Henderson, J.P, Dong Chen, Chi Lo, haven't, Alex Redman, teetering, Jasmine Duan, Patrick Garvin, Summer Zhen, Rae Wee, Tom Westbrook Organizations: BNP, Asset Management, Morgan Asset Management, Invesco, RBC, Reuters, Pictet Wealth Management, HK, RBC Investment Services, Thomson Locations: China, HONG KONG, SINGAPORE, Asia, Shanghai, Pacific, India, Indonesia, Beijing, Hong Kong, Singapore

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. "While the overall picture is grim, bearishness around Chinese equities may have reached a local peak and we therefore are refraining from cutting our exposure," said Dong Chen, head of Asia macroeconomic research at Pictet Wealth Management. SEEKING ALTERNATIVESOthers have meanwhile sought out opportunities in markets outside of China, but that trend is showing signs of ebbing. "With attitudes towards China currently so weak, equities valuations could be quite sensitive to signs that corporate fundamentals are starting to improve." ($1 = 7.2910 Chinese yuan renminbi)Reporting by Summer Zhen in Hong Kong and Rae Wee in Singapore; Editing by Tom Westbrook and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Janus Henderson, J.P, Dong Chen, Chi Lo, haven't, Alex Redman, teetering, Jasmine Duan, Patrick Garvin, Summer Zhen, Rae Wee, Tom Westbrook Organizations: REUTERS, BNP, Asset Management, Morgan Asset Management, Invesco, RBC, Reuters, Pictet Wealth Management, HK, RBC Investment Services, Thomson Locations: Shanghai, Shenzhen, China, HONG KONG, SINGAPORE, Asia, Pacific, India, Indonesia, Beijing, Hong Kong, Singapore

☆ Chinese coach fined, banned for eight months for slapping referee
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Aug 2 (Reuters) - A Chinese soccer coach who slapped a referee on the side of his head during a second tier match last month has been handed an eight-month match ban and fined 150,000 yuan ($20,905), the Chinese football association (CFA) said on Wednesday. For this he is "prohibited from entering the sports stadium for matches for a period of eight months" and fined 150,000 RMB, it added. "The Chinese Football Association will strictly and resolutely handle all kinds of violations of rules and discipline in accordance with the provisions of the Disciplinary Code of the Chinese Football Association, in order to purify the atmosphere of the game. "We hope that all parties involved will work together to maintain order on the field and preserve the hard-earned development environment of football." ($1 = 7.1754 Chinese yuan renminbi)Reporting by Martin Quin Pollard Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Duan Xin, Martin Quin Pollard, Christian Radnedge Organizations: Liaoning, Chinese Football Association, CFA, Thomson Locations: BEIJING, Chinese, Nanjing

[1/5] Kazuyuki Tanioka, the owner of Japanese cuisine Toya restaurant, prepares a sashimi dish, during an interview with Reuters, in Beijing, China July 25, 2023. China is the biggest importer of Japanese seafood. Shortly after the 2011 tsunami and earthquake damaged the Fukushima plant, it banned the import of food and agricultural products from five Japanese prefectures. The latest import restrictions were imposed this month after the United Nation's nuclear watchdog approved Japan's plans to discharge the treated water. "Our main focus is to source seafood within China or sourcing from other foreign suppliers," Tanioka said.

Persons: Tanioka, Tingshu Wang, It's, Toya, Kenji Kobayashi, Fukuoka, Duan, restaurateurs, Martin Quin Pollard, Chris Gallagher, Tom Bateman, Mariko Katsumura, Xiaoyu Yin, Justin Fung, Miral Organizations: Reuters, REUTERS, United, Aomori, Aomori Chuosuisan Co, Japan, Beijing, Thomson Locations: Toya, Beijing, China, Tingshu Wang BEIJING, Kumamoto, Japan, Aomori Chuosuisan, Hong Kong, Tokyo

☆ ‘Several Things Have Shocked Me’: An Ex-Insider on Business in China
▼ + stars: | 2023-07-08 | by ( Ravi Mattu | More About Ravi Mattu | ) www.nytimes.com time to read: +1 min

He and his former wife, Duan Weihong, used their relationships with top government officials to build a multibillion-dollar property development company during a golden age for entrepreneurs starting in the mid-1990s. Mr. Shum left China in 2015 as Xi Jinping, the country’s leader, asserted greater state control over the country and its businesses. (It is believed that Communist Party officials detained her after a high-ranking political ally was held on suspicion of corruption.) Mr. Shum told the story of their rise and fall — and the murky reality of doing business in China — in his 2021 memoir. Many details cannot be independently verified but his role at the intersection of business and politics is certain.

Persons: Desmond Shum, Duan Weihong, Janet Yellen, Shum, Xi Jinping, Duan, Whitney, Mr Organizations: Communist Party Locations: Beijing, China, Britain

☆ 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

☆ Apple and Meta's cold war over privacy is coming to a head
▼ + stars: | 2023-02-17 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Do you know any marketing/ad execs who are figuring out how to use generative AI? But experts told my teammate Paayal Zaveri that Meta needs to entirely reinvent its advertising model to escape Apple. Microsoft's new ChatGPT-powered Bing loves to pick fights and sling insults — and people are sharing their wild, wild, wild experiences with the chatbot. Generative AI like ChatGPT can do these side-hustles for you. Freelancers are relying on generative AI to increase their productivity and take on more projects.

☆ ChatGPT frenzy sweeps China as firms scramble for home-grown options
▼ + stars: | 2023-02-10 | by ( Josh Ye | ) www.reuters.com time to read: +6 min

[1/2] A response in Chinese by ChatGPT, an AI chatbot developed by OpenAI, is seen on its website in this illustration picture taken February 9, 2023. OpenAI or ChatGPT itself is not blocked by Chinese authorities but OpenAI does not allow users in mainland China, Hong Kong, Iran, Russia and parts of Africa to sign up. Dozens of bots rigged to ChatGPT technology have emerged on WeChat, with hobbyists using it to make programmes or automated accounts that can interact with users. ChatGPT supports Chinese language interaction and is highly capable of conversing in Chinese, which has helped drive its unofficial adoption in the country. CENSORSHIPReuters' tests of ChatGPT indicate that the chatbot is not averse to questions that would be sensitive in mainland China.

Millennials have lived through two recessions and might be facing a third as their parents retire. Talking money with your parents isn't going to be fun, but it's a good idea to know their status. A major part of that preparation is figuring out where the money will come from to care for their parents. Decide who can provide the financial caretakingSo should millennials be saving for their parents' care? But Williams, the financial planner, doesn't advise millennials to focus their saving efforts on their parents' care.

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