DIRS.INFO The most relevant business & tech news

☆ Airport security ordered a woman to remove her artificial breast in front of a crowd of people
▼ + stars: | 2024-04-11 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

An airport apologized for asking a woman to remove her prosthetic breast while in a security line. AdvertisementDublin Airport has apologized after a passenger was told by security staff to remove her prosthetic breast in public as she passed through airport scanners. After telling airport security that the alert was caused by her prosthesis, she was told to remove it, she told BBC Radio Ulster. Advertisement"I think that's when the woman, the female security guard, maybe realized she hadn't been going down the right road," Ní Leannáin told BBC Radio Ulster. Dublin Airport representatives later apologized after Ní Leannáin complained, she said, but wouldn't commit to saying it wouldn't happen again.

Persons: —, Ní Leannáin, they'd, wasn't, hadn't, Ní, Harry Reid Organizations: Dublin Airport, Service, BBC Radio Ulster, Harry Reid International Locations: Donegal, Las Vegas

☆ KKR says China's real estate correction may only be halfway done
▼ + stars: | 2024-04-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

"A fundamentally overbuilt real estate industry needs to be addressed — and quickly," he said in the report, which counts Changchun Hua, KKR's chief economist for Greater China, among the co-authors. Real estate and related sectors once accounted for about one fifth or more of China's economy, depending on the breadth of analysts' calculations. Based on comparisons to housing corrections in the U.S., Japan and Spain, China's "housing market correction may be just halfway complete" in terms of its depth, the KKR report said. watch nowWhile KKR's report didn't provide much detail on expectations for specific real estate policy, the authors said more action by Beijing to improve China's real estate sector "could materially shift investor perception." Chinese officials have said the real estate sector remains in a period of adjustment, while Beijing shifts its emphasis toward manufacturing and what it considers "high-quality development."

Persons: Henry H, McVey, " McVey, Hong, Nomura Organizations: West Coast New, Nurphoto, Getty, BEIJING, KKR, Authorities, Housing Locations: West, Qingdao, East China's Shandong, China, Changchun Hua, Greater China, U.S, Japan, Spain, Beijing, China's

☆ U.S. and Britain accuse China-linked hackers of ‘malicious’ cyber campaigns, announce sanctions
▼ + stars: | 2024-03-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

BeeBright | Getty ImagesLONDON — The U.S. and U.K. on Monday accused hackers linked to the Chinese state of being behind "malicious" cyber campaigns targeting political figures, in moves expected to stoke tensions with Beijing. The British government also alleged that China-affiliated hackers were behind an attack that saw the data of millions of voters accessed. "I can confirm today that Chinese state-affiliated actors were responsible for two malicious cyber campaigns targeting our democratic institutions and parliamentarians," British Deputy Prime Minister Oliver Dowden said in a speech to Parliament on Monday. "We want now to be as open as possible with the House and the British public," Dowden said. U.S. hits out at ChinaSeparately, the U.S. Justice Department unsealed an indictment Monday accusing Chinese state-linked hackers of being behind cyber campaigns targeting U.S. businesses, government officials and politicians.

Persons: Oliver Dowden, Dowden, Ni Gaobin, Weng Ming, Cheng Feng, Peng Yaowen, Xiong Wang, Zhao Guangzong, Merrick B, Garland Organizations: Getty, stoke, Electoral, Electoral Commission, Embassy, Google, APT31, U.S . Justice Department, DOJ Locations: U.S, Beijing, China, Britain, APT31 ., United States

☆ 'Nearing exhaustion': Top strategists warn that weaker consumer spending could cause US stocks to run out of steam — but 22 investments can thrive during a market reversal
▼ + stars: | 2024-03-16 | by ( James Faris | ) www.businessinsider.com time to read: +10 min

Eight economists, investment chiefs, and strategists that Business Insider recently spoke to credited healthier-than-anticipated consumer balance sheets and spending for the continued expansion. "Either that, or they're going to be maxed out — they can't get any more money. They're not going to have any liquidity to be able to continue to do the things they're going to do." He's also sticking with defensive stocks as consumer spending softens, including those in the consumer staples sector like Clorox (CLX) and Procter & Gamble (PG). Real estate is a "hated asset class" that's negatively correlated with interest rates, Sekera said.

Persons: shouldn't, Kevin Gordon, Charles Schwab, they're, Sue Crotty, Ed Clissold, Ned Davis, Clark Bellin, Bellin, David Rosenberg, They're, Rob Swanke, Swanke, Preston Caldwell, Morningstar's, Dave Sekera, Sekera, Christopher Barto, Gordon, Clissold, He's, Morningstar's Sekera, Crotty, Segal Marco Advisors, She's, Barto, that's Organizations: Business, Consumers, Segal Marco, Ned, Ned Davis Research, Commonwealth Financial Network, Nasdaq, Morningstar, Fort Pitt Capital Group, Procter, Gamble, Federal Reserve, Exxon, APA Corp, Duke Energy, Segal, Energy, Healthcare Locations: Devon, Real, NiSource

☆ Vanke: China scrambles to prevent another big property developer going bust
▼ + stars: | 2024-03-12 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Vanke’s stock soared in Hong Kong and Shenzhen following the reports of potential new financing. On Monday, Moody’s cut Vanke’s rating to Ba1, which is often referred to as a junk rating. Residential buildings being built by Vanke in Nanjing STR/AFP/Getty ImagesFounded in 1984 in Shenzhen, Vanke is a flagship company in China’s property sector. It was the first listed property company in mainland China, boasting a high-profile IPO in 1991 on the still-nascent Shenzhen Stock Exchange. In 2023, property sales dropped 6.5% from 2022.

Persons: Moody’s, China Vanke, Vanke, Kaven Tsang, Fitch, Wang Shi, Donald Trump, Refinitiv Eikon, Vanke’s, it’s, —, Ni, ”, ” Nomura Organizations: Hong Kong CNN, Economic Observer, CNN, Getty, Time, Shenzhen Stock Exchange, Shenzhen Metro, National People’s Congress Locations: China, Hong Kong, Beijing, Evergrande, Shenzhen, Nanjing, Vanke

☆ China's housing minister says real estate developers must go bankrupt if necessary
▼ + stars: | 2024-03-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's struggling real estate developers won't be getting a major bailout, Chinese authorities have indicated, warning that those who "harm the interests of the masses" will be punished. "For real estate companies that are seriously insolvent and have lost the ability to operate, those that must go bankrupt should go bankrupt, or be restructured, in accordance with the law and market principles," Ni Hong, Minister of Housing and Urban-Rural Development, said at a press conference Saturday. "Those who commit acts that harm the interests of the masses will be resolutely investigated and punished in accordance with the law," he said. That's according to a CNBC translation of his Mandarin-language remarks published in an official transcript of the press conference, held alongside China's annual parliamentary meetings. Ni's comments come as major real estate developers from Evergrande to Country Garden have defaulted on their debt, while plunging new home sales have put future business into question.

Persons: China's Organizations: BEIJING, Hong, Housing, CNBC Locations: Evergrande

☆ Beijing says property developers in deep trouble must go bankrupt
▼ + stars: | 2024-03-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China's housing minister, Ni Hong, said real-estate developers in serious trouble should be bankrupted and restructured. Analysts suggest Beijing's priority is to ensure delivery of property projects, not to save developers. AdvertisementChina's housing minister said Beijing will not be bailing out the country's distressed property developers. China's real-estate debt crisis has already taken down property giant Evergrande, which is currently undergoing liquidation. "We view the tone on the property sector set at the 'Two Sessions' as negative," they added, referring to China's parliamentary sessions.

Persons: Ni Hong, —, Xi, Li Qiang's, Ni, Jizhou Dong, Riley Jin Organizations: Service, Authorities, Nomura Locations: China, Beijing, Hong Kong

☆ CNBC Daily Open: Conflicting signals on U.S. jobs market
▼ + stars: | 2024-03-11 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. China warns property developersChina's housing minister signaled real estate developers must go bankrupt if required and won't get a major bailout. Minister of Housing and Urban-Rural Development Ni Hong also warned that those who "harm the interests of the masses" will be punished. India's 'watershed' FTAIndia signed a 'watershed' $100 billion free trade deal that will remove most tariffs with four non-EU nations.

Persons: Hong, Piyush Goyal, Tony Fernandes, Tasha Keeney Organizations: CNBC, Nikkei, CSI, Nasdaq, Dow, Housing, India, EU, Commerce, Industry, AirAsia Locations: Asia, Japan, China, Malaysian

☆ The Juggernaut promised to revolutionize South Asian news. But insiders say the company's founder misled investors, struggled to raise money, and left workers 'heartbroken.'
▼ + stars: | 2024-03-05 | by ( Katie Warren | ) www.businessinsider.com time to read: +33 min

They were gathered for the inaugural summit of The Juggernaut, a digital South Asian news startup that launched in 2019. The Juggernaut spokesperson told BI that "multiple employees have equity in the company," but BI was unable to identify any such employees. "Twenty years ago, you might've struggled to mention a South Asian actor that you've seen in a movie," he said. As of January, the site had about 10,500 subscribers, Sur told investors in an email viewed by BI. Some feel that the publication has strayed from its mission of delivering "untold, smart South Asian stories and news you won't find anywhere else."

Persons: —, Richa Moorjani, Manish Chandra, Anish Melwani, Sadiq Khan, Amitav Ghosh, Roy Rochlin, Jay Bhattacharya, didn't, Sur, Padma Lakshmi, Moorjani, Mira Nair, Oprah Winfrey, she'd, who've, Josh Benson, Bhattacharya, might've, you've, Dev Patel, Priyanka Chopra, Black millennials, Bhattacharya's, Adam Hansmann, Kevin Lin, Albert Ni, Charles Hudson, Steve Jennings, Sur's, Kyle Stanford, Axios, Stanford, Snigdha, Winfrey, MICHAEL TRAN, hadn't, wouldn't, Fariha Róisín, Meghna Rao, Róisín, Rao, Rao didn't, they'd, she's, it's, Hudson, who'd, Reetu Gupta, Aditi Shah, Sean Gupta, Steven Simione, would've, we're, Brian Morrissey, Morrissey, cofounders, Narendra Modi's, Sneha Mehta Organizations: Spring Studios, Netflix, Business, New Yorker, Harvard Business School, Guardian, American, Old Town Media, Athletic, BI, Indian, Yale, McKinsey, Precursor Ventures, Forbes, Getty, TechCrunch, YouTube's Sustainability, YouTube, Paramount Pictures Studios, Immigration Services, Stanford, Digiday, Gannett Locations: York City, chai, Jean's, hasn't, Sur, New York City, South, Asian, India, Madhya Pradesh, Queens, Sur texted, Indian American, AFP, Róisín, Los Angeles , California, South Asia, Silicon

☆ Rihanna has a reported net worth of $1.4 billion — here's how the 36-year-old built her fortune
▼ + stars: | 2024-03-04 | by ( Ni'Kesia Pannell | ) www.businessinsider.com time to read: 1 min

Superstar Rihanna is one of the richest female entertainers in the world. Gregg DeGuire/Getty ImagesThough her introduction to the world came through her debut album "Music of the Sun," Rihanna — born Robyn Rihanna Fenty — has expanded her empire to include acting and running multiple businesses. Although she hasn't delivered a new solo album since 2016's "Anti," her hiatus from music hasn't greatly impacted her net worth because of her other projects. According to a Forbes report published in June 2023, Rihanna has an estimated net worth of $1.4 billion — making her one of the wealthiest female musicians in the world. Here's a breakdown of all that encompasses her empire.

Persons: Rihanna, Gregg DeGuire, Rihanna —, Robyn Rihanna Fenty —, hasn't Organizations: Forbes

☆ Here are Monday's biggest analyst calls: Tesla, Nvidia, Apple, AMD, Home Depot, Western Digital & more
▼ + stars: | 2024-01-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Northland downgrades Advanced Micro Devices to market perform from outperform Northland downgraded the stock mainly on valuation. " Bernstein reiterates Apple as market perform Bernstein said it expects "not great" Apple earnings on February 1. William Blair downgrades Vita Coco to market perform from outperform William Blair said it's concerned about higher costs for the beverage company. Raymond James downgrades Comerica to market perform from outperform Raymond James said the earnings outlook looks too challenging for Comerica. "We are downgrading CMA shares from Outperform to Market Perform and reducing our 2024 EPS estimate to reflect its initial 2024 outlook."

Persons: Bernstein, Hunt, KeyBanc, Key, it's, Morgan Stanley, Oppenheimer, Lowe's, Goldman Sachs downgrades Archer, Daniels, Goldman, Vikram Luthar, William Blair downgrades Vita Coco, William Blair, Wolfe, NiSource, Tesla, Goldman Sachs, Stone, Evercore, Raymond James downgrades, Raymond James Organizations: Bernstein, Pacific, Norfolk, Union Pacific, NSC, UBS, Devices, Northland, AMD, Western, Home Depot, Apple, HSBC downgrades Lululemon, Daniels Midland, ADM, TAM, Airlines, Barclays, Netflix, JPMorgan, Xerox JPMorgan, Raymond James downgrades Comerica, Comerica, CMA Locations: Norfolk Southern, Northland, Brazil

TAIPEI, Taiwan (AP) — Ruling-party candidate Lai Ching-te emerged victorious in Taiwan’s presidential election on Saturday, a result that will determine the trajectory of the self-ruled democracy’s contentious relations with China over the next four years. Beijing strongly opposes Lai, the current vice president who abandoned his medical career to pursue politics from the grassroots to the presidency. It's the first time a single party has led Taiwan for three consecutive four-year presidential terms since the first open presidential election in 1996. Its candidate, Hou Yu-ih, also had promised to restart talks with China while bolstering national defense. Evelyn Ni traveled from China especially to get a taste of Taiwan’s election.

Persons: Lai Ching, Lai, Tsai Ing, Hou Yu, Hou, “, I’m, David Chiau, Ko Wen, Ko, Chen Binhua, Beijing wouldn't, ” Chen, Antony Blinken, ” Blinken, Evelyn Ni, Tony Chen, ”, Xi Jinping, Stacy Chen, Gabrielle Reid, Sung Organizations: Democratic, Nationalist, KMT, ih, Taiwan People’s Party, DPP, Cabinet's Taiwan Affairs Office, Biden, Associated Press Locations: TAIPEI, Taiwan, China, Beijing, Japanese, United States, Taipei, Russia, Ukraine, South China

With so many shows on TV and streaming services, it's impossible not to miss a gem or two. “The Bear,” FX on HuluLet's start off with a public service announcement to watch “The Bear” if you haven't already. Any given episode can make you laugh, cry, feel anxious and excited by its genius casting of guest stars. “Perry Mason,” HBOSomething happened between season one and season two of HBO’s “Perry Mason” starring Mathew Rhys. “Shrinking,” Apple TV+Therapy and grief don't sound like a recipe for a feel-good comedy, but “Shrinking” pulls it off.

Persons: shouldn't, Hulu Let's, Carmy, Jeremy Allen White, Chris O'Dowd, M.O . Walsh, David West Read, Gerry Turner, Turner, “, you’re, Dominique Fishback, Donald Glover, Fishback, Dre, Chloe Bailey, Damson Idris, Paris Jackson, Halsey, Billy Eilish, ” Max, Cary, Brooke, Chase —, Max, Drew Tarver, Heléne Yorke, Molly Shannon, momager, Chase, Case Walker, ” Ali Wong, Steven Yeun, Wong, ”, Ronald Gladden, James Marsden, Lee Eisenberg, Gene Stupnitsky, “ Perry Mason, “ Perry Mason ”, Mathew Rhys, Mason, Jason Segel, Jimmy, resentfully, Christa Miller, Harrison Ford, Jessica Williams —, Segel, Bill Lawrence, Brett Goldstein, Roy Kent, Ted Lasso, Max Yes, Roy, percenters, —, Logan Roy, Brian Cox Organizations: The Associated Press, FX, Hulu, Apple, ABC, Associated Press, “, Chase Dreams, Netflix, AP, HBO Locations: Chicago, “

☆ Tracing the Deep Roots of Ireland’s Support for Palestinians
▼ + stars: | 2023-12-02 | by ( Megan Specia | More About Megan Specia | ) www.nytimes.com time to read: +1 min

Under the light drizzle of a Tuesday morning last month, Ríonach Ní Néill and a group of friends set up a small platform in front of the United States Embassy in Dublin. Then they took out a stack of papers. For the next 11 and a half hours, Ms. Ní Néill and others took turns reading out thousands of names — each one a person killed since Israel started bombarding Gaza in the war, according to a list released by the Gazan health authorities. It was an attempt to convey the enormity of the loss of life, she said. “I think the baseline really in Ireland is that human rights are valued, and what’s happening now is the destruction of universal human rights,” said Ms. Ní Néill, 52, an artist from Galway.

Persons: Ní, Ní Néill, “, ” Organizations: United States Embassy, ” Locations: Dublin, Israel, Gaza, Ireland, Galway, “

☆ Elon Musk takes aim at Ireland's prime minister following the Dublin riots: He 'hates the Irish people'
▼ + stars: | 2023-11-26 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

Elon Musk hit back at the PM, saying he "hates the Irish people." AdvertisementElon Musk said that Ireland's Prime Minister Leo Varadkar "hates the Irish people" after he called for incitement to hatred legislation to be updated as violence erupted across Dublin city center this week. Brian Lawless - PA Images / GettyIn response to the riots, Varadkar called for laws on incitement to hatred to be modernized. Elon Musk has since weighed in on Varadkar's comments, saying in a post on X, formerly Twitter, that the prime minister "hates the Irish people." AdvertisementIronically, the Irish PM hates the Irish people — Elon Musk (@elonmusk) November 24, 2023"The current Irish government clearly cares more about praise from woke media than their own people," Musk added in another post.

Persons: Ireland's, Elon Musk, —, Leo Varadkar, Drew Harris, Harris, Brian Lawless, Varadkar, it's, — Elon, tDqVn2OmR0 — Kevin Doyle, @KevDoyle_Indo, Caio Benicio Organizations: Twitter, Service, Ireland's, Advertisement, Irish Independent, Politico, PM, Black Americans, Defamation League, New York Times, BBC News NI Locations: Dublin, Ireland, Irish, Algeria, Brazil

☆ Fact Check: Ireland’s McDonald did not expel Israeli ambassador
▼ + stars: | 2023-11-24 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

The X user made the same claim, though misidentified McDonald as Ireland’s president. McDonald said (archived) the attacks on Gaza amounted to war crimes and called on the Irish government to refer Israel to the International Criminal Court (ICC), as well as to “send the Israeli ambassador home”. McDonald is the president of Sinn Fein, Ireland’s main opposition party. “The Ambassador of Israel to Ireland has not been expelled,” a spokesperson for the Irish Department of Foreign Affairs told Reuters in an email on Nov. 21. Israel’s ambassador to Ireland has not been expelled as of Nov. 23, 2023.

Persons: Ireland’s, Sinn, Mary Lou McDonald, …, McDonald, Sinn Fein Ard Fheis, ”, Sinn Fein, Michael Higgins, Leo Varadkar, Verona Ní Bhroinn, “, Read Organizations: Facebook, “, Sinn, Palestinian, Hamas, International Criminal Court, ICC, Verona, Oireachtas Service, Reuters, Irish Department of Foreign Affairs, Irish Government, Thomson Locations: Gaza, Republic of Ireland, Israel, Ireland

☆ Why the UK government's tax cuts still leave workers worse off
▼ + stars: | 2023-11-23 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

British Finance Minister Jeremy Hunt that the U.K. economy would not enter a technical recession in 2023, while announcing the government's spring Budget. The U.K. National Insurance is a tax on workers' income and employers' profits to pay for state social security benefits, including the state pension. Touted by the Conservative party as the "largest ever tax cut for workers," the move nevertheless does not shield taxpayers from the effect of frozen tax thresholds that tip more of their income into higher tax brackets, as nominal wages rise. In March 2021, then-Finance Minister Rishi Sunak announced that the personal allowance (PA) and higher-rate thresholds (HRT) of income tax would be frozen for four years until April 2026. Alongside extending the freezes, Hunt in November 2022 froze the upper earnings limit for NI contributions and lowered the additional rate hold from £150,000 to £125,140 from April 2023.

Persons: Jeremy Hunt, Dan Kitwood, Rishi Sunak's, Hunt, Rishi Sunak, Torsten Bell, Paul Johnson Organizations: British, Getty, Finance, National Insurance, Labour Party, Rishi Sunak's Conservative, Insurance, Conservative, Treasury, Institute for Fiscal Studies

☆ ‘Spamalot’ Review: You’ll Laugh in Its General Direction
▼ + stars: | 2023-11-16 | by ( Jesse Green | More About Jesse Green | ) www.nytimes.com time to read: +1 min

If you’ve seen “Monty Python and the Holy Grail,” the 1975 movie spoof of all things Arthurian and many things not, you know the coconuts I mean. And if you’re enough of a Python fan to have also seen “Spamalot,” the 2005 Broadway musical “lovingly ripped off” from the film, you’ve probably memorized the whole bit. That’s the one in which Arthur’s trusted patsy, Patsy, slaps coconut halves together so the deluded king can pretend he has a horse. Among many others, so are a troupe of self-flagellating monks, a cart of corpses, a vulgar French taunter and a Trojan rabbit. This one, directed and choreographed by Josh Rhodes, gives the “ni”-sayers what they want.

Persons: Monty Python, “, you’ve, Arthur’s, patsy, Patsy, James, Eric Idle, John Du Prez, ”, Josh Rhodes, sayers Organizations: St Locations: England

☆ There's a once-in-a-decade opportunity in a sector that pays high dividends. Morningstar's chief strategist shares 5 stocks trading at discounts not seen since 2009.
▼ + stars: | 2023-11-06 | by ( Laila Maidan | ) www.businessinsider.com time to read: +3 min

The best opportunities today are in value stocks, meaning names trading at about a 22% discount to fair value, he said. Morningstar estimates fair value based on its projection of a company's future cash flows and the predictability of those flows. In fact, year-to-date, many utilities stocks have fallen by more than even long-dated bonds. What's great about utilities stocks is that they are very steady because demand for electricity is inelastic. It's a five-star-rated stock trading at a 23% discount to fair value and has about a 4.58% dividend yield.

Persons: Dave Sekera, Sekera, Travis Miller, It's Organizations: Stocks, Morningstar, Treasuries, NextEra Energy, Duke Energy, Electric Power Company Locations: AEP

☆ It Is Not Dead Yet! ‘Spamalot’ Returns to Broadway. (Cue the Coconuts.)
▼ + stars: | 2023-11-06 | by ( Sopan Deb | More About Sopan Deb | ) www.nytimes.com time to read: +1 min

The terrifying knights still say “Ni!” The dead? Well, they are not quite dead yet. And King Arthur and his Knights of the Round Table (not dawn, not dusk, not late afternoon, but knights) still trot around to the sounds of coconuts banging together. All that is to say: “Spamalot” is back on Broadway, and it is still quite silly. It’s a lousy thing to do to repeat it over and over again to a dead room,” Rhodes said.

Persons: King Arthur, David Josefsberg, Tim, ” Josh Rhodes, ” Rhodes Organizations: Knights, Gibney Studios Locations: Manhattan

[1/3] China's Premier Li Keqiang waves as he arrives for a news conference after the closing ceremony of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, China, March 15, 2017. Li was premier and head of China's cabinet under Xi for a decade until stepping down from all political positions in March. Adam Ni, an independent China political analyst, described Li as "a premier who stood powerless as China took a sharp turn away from reform and opening". A glowing 2014 state media profile of Li, praising him as "a calm and tough wall-breaker", went viral shortly after his death was announced. Li's frequent visits to disaster sites and his easy camaraderie when speaking to ordinary people were also highlighted on Chinese state media.

Persons: Li, Damir Sagolj, Li Keqiang, Xi Jinping, Xi, Deng Xiaoping, Alfred Wu, Lee, Zhu Rongji, Wen Jiabao, Wu, Adam Ni, Jiang Zemin, Deng, Li Yining, Hu Jintao, Cheng Hong, Laurie Chen, Tian, William Mallard Organizations: People's Congress, of, People, REUTERS, Rights, Communist Party, CCTV, Weibo, Australian National University, Lee Kuan Yew, of Public Policy, Peking University, Communist Party's Youth League, Youth League, Shanghai, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai, Singapore, Social, Anhui, Henan, Liaoning

☆ China rushes to swap Western tech with domestic options as U.S. cracks down
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +10 min

China spent 1.4 trillion yuan ($191 billion) replacing foreign hardware and software in 2022, marking a year-on-year increase of 16.2%, according to IT research firm First New Voice. Two firms awarded the Harbin tenders were subsidiaries of China Electronics Corporation and China Electronics Technology Group Corporation - both heavily targeted by U.S. sanctions. The U.S. Department of Commerce, China Electronics Corporation and China Electronics Technology Group Corporation did not return requests for comment. Despite heavy spending on domestic substitution, however, foreign firms are still dominant suppliers for banking and telecoms database management. Non-Chinese companies held 90% of market share for banking database systems at the end of 2022, according to EqualOcean, a tech consultancy.

Persons: Tyrone Siu, Kendra Schaefer, Mo Jianlei, Eric Zheng, Brenda Goh, Katerina Ang Organizations: REUTERS, Companies Beijing, Reuters, New, Trivium China, Liberation Army, Tech, Chinese Academy of Sciences, BMC, U.S, Cyberspace Security, China Telecommunications Corporation, Qualcomm, U.S . Treasury, Google, Apple, China Electronics Corporation, China Electronics Technology Group Corporation, Microsoft, Adobe, China Tobacco, Microsoft Windows, Chinese Academy of Engineering, European Union Chamber of Commerce, of Commerce, Shanghai, U.S . Department of Commerce, HUAWEI, Huawei, IDC, Financial, Lenovo, HK, Beijing, Thomson Locations: Dongguan, Guangdong province, China, BEIJING, Washington, State, Beijing, Gansu province, Harbin, Xiamen, U.S, American, Shanghai

Israel is escalating its bombardment of targets in the Gaza Strip ahead of an expected ground invasion against Hamas militants. More than 1,400 people in Israel have been killed, mostly civilians who died in the initial Hamas rampage. In addition, 222 people including foreigners were believed captured by Hamas during the incursion and taken into Gaza, Israel's military has said. UNRWA said it found shrapnel in its facilities in the Bureij camp and in Nuseirat in central Gaza from Israel’s bombardment of nearby areas Sunday. Israel said Monday it struck 320 militant targets throughout the besieged Gaza Strip over the last 24 hours.

Persons: Israel, HAVE, won’t, —, ROME —, Antonio Tajani, Nir Forti, ’, Forti, “, barbarously, ’ Tajani, Tajani, Ní Aoláin, Ní, Antonio Guterres’s, ” Ní Aoláin, ” Organizations: Hamas, Health Ministry, West Bank, U.S . Department of Defense, UNRWA, Association of University Heads, Israel Army Radio, Gaza, Gaza’s Health Ministry, UNITED, United Nations, University of Minnesota Locations: Israel, Gaza, U.S, Beirut, israel, CAIRO, Nuseirat, Sunday, ISRAEL, al, Aqsa, Deir al, “, ITALY, Geneva, United

☆ The giant sucking sound you hear is the gobs of capital being pulled away from emerging managers. Here's how one solo capitalist defied the slump.
▼ + stars: | 2023-10-12 | by ( Melia Russell | ) www.businessinsider.com time to read: +6 min

Those who raised their first venture capital funds in the pandemic-era boom times are now struggling with their sophomore efforts. Despite the tailwinds, some emerging managers are defying the slump and raising new funds. He told Insider exclusively that he's now closed on $15 million for fund two from investors including Cendana Capital, Invesco Private Capital, and two dozen startup founders. And so in 2019, he reached into his network of founders and raised a $2 million fund to invest in software companies. Now, he's already gearing up for fund three, which Wan said he plans to launch in 2024.

Persons: Insider's Callum Burroughs, Jordan Wan, Wan, Zocdoc, Oliver Kharraz, it's, Alan Ni, Jake Cooper, Manoj Kanagaraj, Blackstone, Cooper didn't, Cooper, they've, Wolf Organizations: Sequoia, Partners, Cendana, Invesco, Capital, Oscar Insurance, Garner Health Locations: London, Denver , Colorado, Wan

☆ Australian journalist Cheng Lei back home after China release
▼ + stars: | 2023-10-11 | by ( Kirsty Needham | ) www.reuters.com time to read: +4 min

[1/6] Australian journalist Cheng Lei poses for a selfie at an unknown location in this undated picture obtained by Reuters on August 11, 2023. Nicholas Coyle/Handout via REUTERS/File Photo Acquire Licensing RightsSYDNEY, Oct 11 (Reuters) - Australian journalist Cheng Lei, who had been detained in China on national security charges for more than three years, returned home on Wednesday after being released, Australia's Prime Minister Anthony Albanese said. Cheng, who was tried in secret in March 2022, arrived in Melbourne and has been reunited with her two children and family, Albanese told a press conference. Albanese said he expected to visit China this year and told reporters dialogue with China was "a good thing". Albanese said Australia "continued to advocate" for another detained Australian journalist, Yang Hengjun, who has been held since January 2019.

Persons: Cheng Lei, Nicholas Coyle, Handout, Anthony Albanese, Cheng, Albanese, Penny Wong, I've, Xi Jinping, Ryan Neelam, " Albanese, Yang Hengjun, Yang, Adam Ni, Kirsty Needham, Laurie Chen, Alasdair Pal, Clarence Fernandez, Miral Organizations: Reuters, REUTERS, Rights, Australia's, Lowy Institute, Independent, Thomson Locations: Australian, China, Melbourne, Australia, Beijing, Independent China, Canberra, Sydney

Search resuls for: "Ni"

25 mentions found