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☆ 'All options are on the table' for IPO, high valuation isn't the aim: Carsome CEO
▼ + stars: | 2023-09-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'All options are on the table' for IPO, high valuation isn't the aim: Carsome CEOEric Cheng, Group CEO of Carsome, says the company wants investors who are "in it for the long term" ahead of the anticipated IPO.

Persons: Eric Cheng

☆ A Chinese spy used fake LinkedIn profiles to target officials to hand over secrets, report says
▼ + stars: | 2023-08-23 | by ( Pete Syme | ) www.businessinsider.com time to read: +4 min

A Chinese spy created several fake LinkedIn profiles to target UK officials, The Times of London reports. Another Chinese agent previously confessed to using LinkedIn to find people likely to possess sensitive information. AdvertisementAdvertisementA Chinese spy has been using LinkedIn to try to get UK officials to hand over state secrets, The Times of London reported. The UK's security minister Tom Tugendhat said in a statement shared with Insider that the Home Office is aware of Chinese Intelligence using LinkedIn and other social media sites to target British citizens. In a statement shared with Insider, a LinkedIn spokesperson said: "Creating a fake account is a clear violation of our terms of service.

Persons: Beijing –, Robin Zhang, Eric Chen Yixi, Robin Cao, Lincoln Lam, John Lee, Eric Kim, Tom Tugendhat, It's, Lazarus – Organizations: The, LinkedIn, Chinese Ministry of State, The Times, Times, Intelligence, National Security, Washington Post, Reuters, Prevention & Defense Locations: London, Beijing, China, North Korea

The CEO role will be handed over to Eddie Yongming Wu, chairman of Alibaba's Taobao and Tmall Group, while Executive Vice Chairman Joseph Tsai will take over Zhang as chairman. "The idea or expectation that one person could manage the business' crown jewel Cloud and at the same time manage the entire Alibaba Group is an unreasonable expectation." "It would be inappropriate for me to continue serving as chairman and CEO of both companies at the same time during the spin-off process." Alibaba thanked Zhang for his "extraordinary leadership in navigating unprecedented uncertainties affecting the company's business over the past few years." Wu, who co-founded Alibaba alongside Ma and Tsai over two decades ago, will continue to concurrently serve as chairman of Taobao and Tmall Group, Alibaba said.

Persons: Zhang, Joseph Tsai, Alibaba, Daniel Zhang, Eddie Yongming Wu, Alibaba's, Daniel, Brian Wong, Jack Ma, Joe, Eddie, Eric Chen, Wu, Ma, Tsai, Alipay, Jacob Cooke, Cooke, China's, J, Michael Evans, Abinaya, Brenda Goh, Scott Murdoch, Anne Marie Roantree, Josh Ye, Muralikumar Anantharaman, Christopher Cushing Organizations: Alibaba, HK, Tmall, Reuters, Cloud Intelligence Group, Analysts, Alibaba Health, Technologies, Thomson Locations: SHANGHAI, China, Hong Kong, Shanghai, Beijing, Japan, Spain, Australia, Thailand, Tokyo, Taobao, Bengaluru, Sydney

Arm technology powers most global smartphones and the company counts Apple Inc (AAPL.O) and Qualcomm Inc (QCOM.O) as customers. The China business is the exclusive distributor of Arm chip technology in China and develops and sells its own chip designs based on Arm. In 2021, the China business paid Arm about $500 million, the two sources said. “The Arm Ltd IP business part of Arm China is performing very well and we are positioned for continued growth going forward. SoftBank and Arm China did not respond to requests for comment.

Arm technology powers most global smartphones and the company counts Apple Inc (AAPL.O) and Qualcomm Inc (QCOM.O) as customers. The China business is the exclusive distributor of Arm chip technology in China and develops and sells its own chip designs based on Arm. “The Arm Ltd IP business part of Arm China is performing very well and we are positioned for continued growth going forward. SoftBank and Arm China did not respond to requests for comment. Wu is credited with expanding the China business, according to two sources familiar with the company.

☆ Los Angeles authorities begin identifying Monterey Park shooting victims
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +1 min

Jan 23 (Reuters) - The Los Angeles county coroner's office on Monday began identifying the 10 people killed in the Lunar New Year massacre inside a popular dance parlor in Monterey Park, California. The coroner's office confirmed the names of two women - My Nhan, 65, and Lilan Li, 63 - who were among the patrons who died in Saturday's shooting at the Star Ballroom Dance Studio. While not releasing the other victims' names, the coroner's office said the five women and five men who were killed were all in their 50, 60s and 70s. They said she had visited the dance studio on weekends for many years and loved to dance. He was a frequent presence at the dance studio, and friends told a CBS affiliate that he was among the first to rush the shooter.

☆ Crypto markets in turmoil over FTX bankruptcy
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +9 min

Nov 11 (Reuters) - Crypto exchange FTX filed for U.S. bankruptcy on Friday and Sam Bankman-Fried stepped down as CEO, after a liquidity crisis that has prompted intervention from regulators around the world. FTX, its affiliated crypto trading fund Alameda Research and about 130 other companies have commenced voluntary Chapter 11 bankruptcy proceedings in Delaware, FTX said. MARKET REACTION:Shares of cryptocurrency and blockchain-related firms dropped on Friday after FTX, one of the biggest crypto exchanges, said it would initiate bankruptcy proceedings in the United States, triggering a potentially massive meltdown in the industry. "The shock was that this guy was the face of the crypto industry and it turned out that the emperor had no clothes. Ultimately, the lesson here is that the crypto industry needs to stop trusting cults of personality, no matter how well-intentioned they might seem."

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