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☆ Pets, sports, and Disney might end up rescuing China's ailing consumer economy
▼ + stars: | 2024-09-13 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

Read previewA family dog, tennis, and Disney Shanghai's LinaBell character have one thing in common — they might end up pulling China out of a long slump in consumer demand. Those rapidly growing areas are poised to drive a rebound in China's anemic consumer spending, Bank of America analysts say. China's pet economy is seeing outsize spending as pets come to occupy a greater place of prominence in households. Finally, the analysts see significant growth potential in the country's "cultural IP" economy — spending on books, movies, and experiences based on fictional characters or storylines. China's economy has been stuck in the doldrums amid weak consumer spending.

Persons: —, that's Organizations: Service, Disney, Bank of America, Business, Consumers Locations: China

☆ China securities official expected to lead Shenzhen stock exchange, Reuters reports
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: +2 min

A woman walks by the gate of the Shenzhen Stock Exchange on Aug. 20, 2020 in Shenzhen, Guangdong Province of China. VCG | Visual China Group | Getty ImagesChina is expected to appoint a senior securities official to head its second-largest bourse, four sources said, filling a role that has been vacant for the unusually long period of seven months as the securities regulator reshuffled its leadership. Li Jizun, a civil servant who is now director of the general office at the China Securities Regulatory Commission (CSRC), is set to become general manager of the 27-trillion-yuan ($3.73-trillion) Shenzhen Stock Exchange, the sources said. The CSRC and the Shenzhen exchange did not immediately respond to a faxed request for comment. Sha had worked at the securities regulator for more than two decades before taking over at the Shenzhen exchange in mid-2020, after her predecessor Wang Jianjun was promoted to the party chief role before returning to the regulator as a vice chairman.

Persons: Li Jizun, Li, Sha Yan, Sha, Wang Jianjun Organizations: Shenzhen Stock Exchange, Visual China, Getty, bourse, China Securities Regulatory Commission, State Council, Shanghai's Nasdaq, Communist Party Locations: Shenzhen, Guangdong Province of China, China, Beijing, U.S

☆ Apple's earnings are this week. Here's what to look out for.
▼ + stars: | 2024-07-30 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

But since then, Apple has held its annual Worldwide Developers Conference, where it debuted Apple Intelligence and announced a partnership with ChatGPT. Expect questions about the Apple Intelligence delayApple Intelligence is a hot topic this quarter. AppleBloomberg reported Sunday that Apple Intelligence won't begin rolling out in September, as Apple first announced. AFP/Getty ImagesChina was a hot topic during Apple's last earnings call, and it should be no different this time. AdvertisementApple talked about how well its services were doing in Q2, and Kerwin said analysts will be looking for continued "double-digit growth for the services business."

Persons: —, Gene, WWDC, Munster, Tim Cook, We're, William Kerwin, Cook, Dan Ives, Dave Johnson, Kerwin Organizations: Service, Apple, Developers, Apple Intelligence, ChatGPT, Business, Apple Bloomberg, Management, Gene Munster, China Apple, Getty, Morningstar, Huawei, Street, Wedbush Securities, Google Locations: China, Europe, Shanghai, AFP

☆ Where are China's ultra-rich parking their wealth amid a slowing economy?
▼ + stars: | 2024-07-30 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +5 min

At a time when China's economy is facing headwinds, and growth has been slowing, where are the Chinese ultra-rich, whose numbers are expected to swell to 144,897 by 2028 from 98,551 in 2023, parking their wealth? However, the country's high-end property market remains a favored asset. Luxury real estate"There has been a noticeable increase in transactions within Shanghai's luxury real estate sector," said James Macdonald, head of China research at global real estate firm Savills, attributing it to a recent policy easing by the government. That said, China's luxury real estate market is still primarily concentrated in the core areas of first-tier cities, said Li. Other local investment classes, such as the wider property market and China-listed stocks are not as popular among the ultra rich, experts told CNBC.

Persons: Weiquan Lin, Frank, James Macdonald, Savills, Stephen Pau, Sam Xie, CBRE's, Xie, Arbour, Tian Di, Knight Frank Head of, Pacific Research Christine Li, Li, Nick Xiao, Xiao, Yongyuan Dai, Pau, defensiveness Organizations: CNBC, Pacific Research, Overseas, Domestic Institutional Investors, Domestic Limited, Hywin Locations: China, Shanghai, Lujiazui, Knight Frank Head of Asia, Pacific, Hong Kong, Yongyuan, Pau

☆ How Google CEO Sundar Pichai shook up his leadership team for the AI era
▼ + stars: | 2024-05-16 | by ( Hugh Langley | ) www.businessinsider.com time to read: +11 min

It came almost 12 months after Google combined two key AI groups, DeepMind and Google Brain. Google's AI MVPGoogle DeepMind CEO Demis Hassabis GoogleDemis Hassabis might be the most important person at Google right now. Then, in April last year, Pichai announced he would merge DeepMind with Google's in-house AI unit, known as Brain, into a supergroup named Google DeepMind. Reid reports directly to Raghavan, the ads and search senior vice president, and is shepherding a dramatic transition of Google Search. Fears of chatbots eating into Google's search dominance have yet to be realized, giving Google time to reinvent its most hallowed product.

Persons: —, Sundar Pichai, Pichai, Susan Wojcicki, Demis, Hassabis, Larry Page, DeepMind, OpenAI, it's, accrues, ED JONES, Rick Osterloh, Sameer Samat, he'll, Hiroshi Lockheimer, Osterloh, Prabhakar Raghavan, Siri, Tim Cook, Hiroshi, SAJJAD HUSSAIN, Liz Reid, Reid, Raghavan, Pandu Nayak, Venkatachary, It's, chatbots, Bernstein, Mark Shmulik Organizations: Service, Google, Business, Google's, BI, Research, Hassabis, Android, Apple, Apple's Vision, CNBC, Google Local Locations: Raxium

☆ Hon Hai's fundamentals aren't 'very strong,' says financial services firm
▼ + stars: | 2024-05-15 | 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 EmailHon Hai's fundamentals aren't 'very strong,' says financial services firmKirk Yang of Kirkland Capital discusses Hon Hai's results and says its fundamentals are "not very strong. There's no growth from [the] sales and profit perspective."

Persons: Kirk Yang, Hai's Organizations: Kirkland Capital

☆ Google CEO Pichai says company will 'sort it out' if OpenAI misused YouTube for AI training
▼ + stars: | 2024-05-14 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Alphabet CEO Sundar Pichai said Google will "sort it out" if it determines Microsoft -backed OpenAI relied on YouTube content to train an artificial intelligence model that can generate videos. The New York Times later reported that OpenAI had transcribed over a million hours of YouTube videos. Asked if Google would sue OpenAI if the startup violated the search company's terms of service, Pichai didn't offer specifics. Pichai said Google has processes in place to figure out if OpenAI failed to comply with the rules. WATCH: Alphabet CEO on report OpenAI trained GPT-4 on YouTube: We have clear terms of service

Persons: Sundar Pichai, OpenAI, CNBC's Deirdre Bosa, Mira Murati, Murati, Pichai, Apple, Bosa, We'll, GPT Organizations: Microsoft, Wall Street Journal, New York Times, Google, Google's, Astra, Apple, Developers Conference, Bloomberg, Gemini Locations: U.S, Cupertino , California

☆ Google employees question execs over 'decline in morale' after blowout earnings
▼ + stars: | 2024-05-08 | by ( Jennifer Elias | ) www.cnbc.com time to read: +8 min

"How does leadership plan to address these concerns and regain the trust, morale and cohesion that have been foundational to our company's success?" "Despite the company's stellar performance and record earnings, many Googlers have not received meaningful compensation increases" a top-rated employee question read. Google's use of cashThere were a lot of employee questions ahead of last week's meeting directed at the company's buyback, Porat said. With respect to the decline in morale brought up by employees, Pichai said "leadership has a lot of responsibility here, adding that "it's an iterative process." CNBC reported last week that Google is laying off at least 200 employees from its "Core" organization, which includes key teams and engineering talent.

Persons: Sundar Pichai, Loren Elliott, Ruth Porat, We've, Alphabet's, Hollie Adams, Porat, Prabhakar Raghavan, dory, Pichai, Ted, Larry Page, Jim Cramer Organizations: Inc, Government, Society, Bloomberg, Getty, Google, Economic, Finance, CNBC Locations: Stanford , California, Davos, Switzerland, U.S

☆ A product manager who worked at Meta and Google reveals which company is best for work-life balance
▼ + stars: | 2024-05-05 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +11 min

A Meta product manager who also worked at Google in a similar role revealed some differences between the tech companies based on his experiences over the past six years. AdvertisementCompany transparencyMeta does maintain some of the transparency the company was known for in its earlier days, McKinnon wrote. At Meta, McKinnon was aware of what other teams were working on, partly through the company's internal forums and dashboards. At Google, employees mostly communicate through email or chat, so it's more difficult to know what everyone is doing, McKinnon wrote. At Google, McKinnon saw that projects were largely created and led by software engineers, and PMs played a more auxiliary role.

Persons: —, Daniel McKinnon, Ray, McKinnon, Googlers, Meta's, Mark Zuckerberg, Sundar, Alphabet's, Sundar Pichai wasn't, Zuckerberg, Meta, VPs, Susan Li Organizations: Meta, Google, Service, Unit, Business, Facebook, . Software Engineers Locations: Meta

☆ China's automakers must adapt quickly or lose out on the EV boom in the face of regulatory scrutiny abroad and competition at home
▼ + stars: | 2024-05-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

The automaker is the joint venture partner of Honda and Toyota in China, and has an electric car brand called Aion. Expanding outside ChinaLike other automakers in China, GAC is also turning overseas. China's overseas car sales surged last year, putting the country on par with Japan as the world's largest exporter of cars. Dyer expects that to drive overseas demand for Chinese electric cars. Chinese consumers placed almost twice as much importance on tech features compared with U.S. consumers, Dyer said, citing AlixPartners' survey.

Persons: Evelyn Cheng, Tesla, Feng Xingya, Feng, Wei Haigang, Wei, Stephen Dyer AlixPartners, There's, Stephen Dyer, AlixPartners, Dyer, BYD, Nio, CATL, Zhong Shi Organizations: CNBC, GAC, Labor, Huawei, Honda, Toyota, China Passenger Car Association, EU, U.S, Factories, Greater China Business U.S, Ministry of Commerce, Tech, Volkswagen, SAIC Motor, Battery, China Automobile Dealers Association, Automotive, Robotics, Lotus Technology, Geely Locations: Beijing, Evelyn Cheng BEIJING, China, East, Mexico, Japan, Malaysia, Thailand, Egypt, Brazil, Turkey, Amsterdam, Greater China, Asia, U.S, Europe

☆ Apple's China sales in focus ahead of earnings
▼ + stars: | 2024-05-02 | by ( Kif Leswing | ) www.cnbc.com time to read: +5 min

In February, Apple said it expected sales similar to last year's $94.84 billion during the same period and flat iPhone sales. In the December quarter, sales dropped 13% in Greater China, which includes Hong Kong and Taiwan. Analysts polled by FactSet expect $15.25 billion in China regional sales, which would be a 14% year-over-year decline. "In strong iPhone cycles, Apple's China revenues typically grow much faster than Apple overall, as Chinese consumers embrace the new phone," Sacconaghi wrote. Meanwhile, state statistics show iPhone sales falling 33% in February, the second consecutive month of declining shipments.

Persons: Tim Cook, Deirdre O'Brien, Apple, AAPL, Bernstein, Toni Sacconaghi, Sacconaghi, David Vogt, Aaron Rakers, There's, Morgan Stanley, Erik Woodring, Woodring Organizations: Apple, Analysts, FactSet, Huawei, Chinese Communist Party, Counterpoint Research, UBS Locations: China, Greater China, Hong Kong, Taiwan, repurchases

☆ China's new aircraft carrier is being tested at sea for the first time, but US carriers 'remain in an echelon of their own,' expert says
▼ + stars: | 2024-05-01 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Read previewChina launched the first sea trial of its newest aircraft carrier on Wednesday, per the state-run news agency Xinhua. However, according to John Bradford, a Council on Foreign Relations International Affairs fellow, the Fujian falls far short of US aircraft carrier standards. Related stories"There is nothing yet that compares to the USS carriers," he told Business Insider. AdvertisementUnlike China's two other carriers, the Liaoning and Shandong , the Fujian features a catapult system designed to launch aircraft, according to reports, much like US aircraft carriers. Business Insider previously reported that China's two other aircraft carriers — the Liaoning and Shandong — had outdated Soviet-era designs and smaller air wings, making them notably inferior to US carriers.

Persons: —, John Bradford, Bradford, Richard Kouyoumdjian Inglis, Gerald Ford, Shandong — Organizations: Service, Xinhua, Business, People's Liberation Army Navy, Foreign Relations International Affairs, US, CNN, Chilean Naval Reserve, Congressional Research Service, Center for Strategic, International Studies, CSIS, Gerald Ford Class, Defense, Naval Locations: China, Fujian, Shanghai's, Shanghai, Liaoning, Shandong

☆ A 6-month Chinese-food festival is bringing authentic and flavor-packed cuisine to New York City's masses
▼ + stars: | 2024-04-22 | by ( Xintian Tina Wang | ) www.businessinsider.com time to read: +10 min

At New York's Dragon Festival, authentic Chinese brands and restaurants excite locals' taste buds. Its founder shared some of her favorite vendors of soup dumplings and candies at the opening event. "This doesn't taste like home," said Xu, a 31-year-old entrepreneur and the creator of New York City's Dragon Festival, the biggest Chinese-food festival in the metropolitan area. Jessie YuChen for BIChen said that confectioners in her home province of Fujian, China, caught her attention when she was younger. In 2006, inspired by the soup dumplings made popular by Shanghai's Nanxiang district, Ma opened his first New York City storefront.

Persons: —, Xu, Jessie YuChen, she's, Mila, Tang Hulu, I'm, Bu Tong, Ivy Chen, Dragon Lulu, Chen, Vivian Cao, confectioners, Emperor Guangzong, Michael Ma, Xiang Xiao Long Bao, Nan Xiang Xiao Long Bao, Ma, Nan, bartenders, Coco, Xibei Yang Organizations: Service, Park, Dragon, Prospect, lollipop, Michelin, Chi Forest, Haidilao, BI Locations: New York, SoHo, Chinatown, Flushing, York City, Koreatown, Union, Chelsea, Washington, Kwa, Henan, Queens, Prospect Park , Brooklyn, Beijing, Fujian, China, Shanghai, York, Nanxiang, New York City, Jiangsu, Zhejiang, Chi, Thai, Bangkok, Sichuan, Manhattan

☆ Huawei just gave Tim Cook a new headache in China
▼ + stars: | 2024-04-19 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

AdvertisementTim Cook would like you to think everything is going swimmingly for Apple in China. It's already won over some consumers since launching the Mate 60 Pro series last year. The Huawei Mate 60 rivals the latest iPhone. They expect another decline in iPhone sales in the region in Apple's quarterly earnings on May 2. Cook might be putting on a brave face, but iPhone sales in China may keep sliding if Huawei has its way.

Persons: —, Tim Cook, Cook, there's, It's, They're, Wang Gang, Ivan Lam, Apple Organizations: Apple, Huawei, Service, Bund, Counterpoint Research, Publishing, Washington, Reuters Locations: China, Shanghai's Jing'an, Cook, iPhones, Greater China

☆ Google's CEO says its workplace isn't a place to 'fight over disruptive issues or debate politics'
▼ + stars: | 2024-04-18 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Sundar Pichai said in a blog post the office isn't a place to "debate politics." Google fired 28 workers involved in protests against its $1.2 billion contract with Israel. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The CEO's message, which comes only two days after in-office protests, is loud and clear: the office isn't a place for politics. That separate memo had told workers to "think again" before violating company policies with sit-in protests.

Persons: Sundar Pichai, —, Sundar Pichai's splashy Organizations: Google, Israel, Service, Google's, Business Locations: Israel, Sunnyvale and New York City

☆ Fast-food franchisees in California fear they'll lose customers to Chili's and Applebee's as prices soar over $20 wage
▼ + stars: | 2024-04-14 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

Fast-food franchisees in California fear diners will flock to Chili's and Applebee's to avoid price hikes. As a result, the price gap between fast-food and casual dining restaurants could narrow. This could potentially cause the price difference between fast-food and casual dining restaurants to shrink. Fast-food restaurants in California have been hiking prices to offset the wage, which is 25% above the state's general minimum wage. "We're gonna start to compete with them," Ghai said, speaking about the casual dining restaurants.

Persons: —, Shane Paul, Paul, Scott Olson, Taco Bell, Ghai, he's, wouldn't, Scott Rodrick, Rodrick, Hajime Uba, Brian Vaccaro, Raymond James, Sal Vitalie, Vaccaro, Sharon Zackfia, William Blair Organizations: Service, Burger Locations: California, San Diego, South San Francisco

☆ Op-ed: The effusive China tour is a failing playbook for Apple, Tim Cook, and every CEO
▼ + stars: | 2024-03-27 | by ( Dewardric L. Mcneal | ) www.cnbc.com time to read: +8 min

This ritual, epitomized by high-profile engagements — such as Apple CEO Tim Cook's effusive overtures and statements of commitments to China — signals that American corporate titans think the strategy can still work. Tim Cook's narrative of China as "critical" to Apple , coupled with his admiration for the country's advanced manufacturing capabilities, embodies the ethos of this engagement playbook. Apple's Chief Executive Officer Tim Cook attends the China Development Forum in Beijing on March 24, 2024. It's not that the Apple CEO is doing anything wrong. Chinese Apple superfans jostled to enter the smartphone maker's newest store as it opened on March 21 night.

Persons: Tim Cook's, Tim Cook, Pedro Pardo, Jim McNerney, Xi Jinping's, Mark Zuckerberg, Deirdre O'Brien, Strstr, Xi, Xi Jinping, Li Qiang Organizations: Apple, American, titans, U.S, Apple's, China Development Forum, AFP, Getty, Boeing, Airbus, Volkswagen, Qualcomm, Google, Facebook, Huawei, Afp Locations: China, Beijing, Weibo, Shanghai

☆ Apple could double down on China market, Wedbush says, as iPhone sales drop
▼ + stars: | 2024-03-26 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

SHANGHAI, CHINA - MARCH 21: Tim Cook, chief executive officer of Apple Inc., arrives for opening ceremony of the new Apple Jing'an store on March 21, 2024 in Shanghai, China. The new Apple store opens on March 21 in Shanghai's Jing'an district. (Photo by VCG/VCG via Getty Images)Apple could double down on the China smartphone market amid declining iPhone sales and stiff competition in the country, Wedbush Securities said on Monday. Apple needs to overcome its China challenges including a tough macro environment and competition from Huawei before the iPhone 16 release and "it all starts with reaffirming Apple's presence in China," Wedbush said. Cook's latest trip to China, which Wedbush said is "a sign Apple could double down" on China, comes amid reports of iPhone sales in China plunging 24% in the first six weeks of 2024.

Persons: Tim Cook, Wedbush, Commerce Wang Wentao, Cook Organizations: Apple Inc, Apple, Getty, Securities, Huawei, China's, Commerce, China Development Forum Locations: SHANGHAI, CHINA, Shanghai, China, Shanghai's Jing'an, Beijing

☆ There are growing calls for Google CEO Sundar Pichai to step down
▼ + stars: | 2024-03-01 | by ( Hugh Langley | ) www.businessinsider.com time to read: +5 min

The slip-up was so bad it sent the company's stock tumbling, and had CEO Sundar Pichai address the troops, calling the situation "completely unacceptable." The debacle has strengthened the narrative that Google is suddenly behind in the AI race, and now there's a growing chorus of voices calling for CEO Sundar Pichai to be replaced. Pichai, who was appointed CEO of Google in 2015, and Alphabet in 2019, has proven a strong peace-time CEO for the company. He's been an effective and steady hand who protects Google's prized search business and deals diplomatically with regulators. Responding to a tweet by Color Health CEO Othman Laraki, who said Google as facing an "unsolvable problem," Mayer defended Google somewhat.

Persons: —, Sundar Pichai, Ben Thompson, Googlers, Mark Shmulik, chatbot, He's, Pichai, Aravind Srinivas, Sundar, Srinivas, Marissa, Marissa Mayer, Othman Laraki, Mayer, They've, Hugh Langley Organizations: Service, Google, Business, Color, Gartner Locations: Silicon Valley

☆ How Google lost its way
▼ + stars: | 2024-02-29 | by ( Hugh Langley | Lara O'Reilly | ) www.businessinsider.com time to read: +17 min

Just two months after Google launched Gemini, its flashy new AI model, the company revealed that it had already built a better version. AdvertisementThen, days later, Google scrambled to explain why its image generation tool spit out racially inaccurate depictions of historical figures. Users have long bemoaned — and researchers recently found — a decline in the quality of Google Search results. The fact that Google is not far and away the self-driving-car leader, it's, like, a total joke," the former Google director said, adding that the problem of Google's lost supremacy is "maybe impossible to solve, frankly." Google now is reminiscent of the Steve Ballmer-era Microsoft, which missed the smartphone, search, and cloud waves and was overtaken by Apple, Google, and Amazon.

Persons: OpenAI, Sora, Sam Altman, Sundar Pichai's, Pichai, —, Larry Page, Sergey Brin, Lea Suzuki, Getty Brin, Page, Google, Googlers, Axel Springer, Diane von Furstenberg, Giovanni Giannoni, Michael Avrukin, Vuk Valcic, wouldn't, Patrick Mork, Eric Lehman, Lehman, ChatGPT, Caesar Sengupta, Sengupta, Alexa, Google's, Steve Ballmer, Satya Nadella, Hugh Langley, Lara O'Reilly Organizations: Google, Hollywood, Industry, San Francisco Chronicle, Business, Penske Media, Microsoft, Amazon, The New York Times, Oracle, YouTube, Apple, IBM, Meta Locations: Silicon Valley, Silicon, —

☆ For some Spring Festival revelers in China, traditional attire adds an element of time travel to celebrations
▼ + stars: | 2024-02-12 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +8 min

For instance, Yu Garden in Shanghai, which hosts a 40-day Spring Festival lantern fair, has become a popular destination for Hanfu fans. The nearby commercial shopping district of Wujiaochang even hosted a Lunar New Year Hanfu parade to attract revelers to the area this year. It too has seen an increase in young tourists wearing traditional attire during visits, according to one local. Embracing traditionA woman wearing Hanfu strolls around the Spring Festival Flower Market in Guangzhou, China, on February 9, 2024. Others say the term “Hanfu” is too narrow, given the fluid sharing of influences among diverse ethnic groups in China.

Persons: they’ve, Taobao, Shanghai's Yu, Yu, influencers, ”, Cai Pa, ” Cai, it’s, Li, John Ricky, Hanfu, she’s Organizations: CNN, CNN — Tourists, Visual China, Getty, CNN Travel Locations: Suzhou, China, Shanghai, Hanfu, Seoul, Yu Garden, Wujiaochang, China’s, Hainan, Haikou, Qilou, Guangzhou, Anhui, gan

It said China plans to tap offshore funds held by Chinese state-owned enterprises and also local funds. Elsewhere in Asia, South Korea's Kospi rose 0.6% to 2,478.61 and Australia's S&P/ASX 200 added 0.5% to 7,514.90. ADM also said it expects to report profit for the full year of 2023 that’s below what analysts were forecasting. That in turn has relaxed the pressure considerably on the stock market and helped it to rip higher. In other trading, U.S. benchmark crude oil rose 9 cents to $74.85 per barrel in electronic trading on the New York Mercantile Exchange.

Persons: Seng, Tan Boon Heng, “, ” Tan, Sunoco, Archer Daniels Midland, Tesla Organizations: Bloomberg, Mizuho Bank, Nikkei, Bank of Japan, U.S ., Dow Jones, Nasdaq, Technologies, NuStar Energy, ADM, American Airlines, Intel, Procter, Gamble, Federal Reserve, Treasury, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Hong Kong, Shanghai, Beijing, China, South, U.S

☆ Why China hates the new president of Taiwan
▼ + stars: | 2024-01-15 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

"Lai Ching-te clings stubbornly to the separatist position for 'Taiwan independence.' A matter of Taiwan's independenceIn 2017, while he was premier, Lai referred to himself as a "pragmatic worker for 'Taiwan independence.'" AdvertisementLai has pledged to maintain status quo and stability in Taiwan, but China isn't backing down on its stance either. "I think China hates him, really hates him," Wu Xinbo, an international relations professor at Shanghai's Fudan University, told Reuters, referring to Lai. "It is because if he is elected as the leader of Taiwan, he may come to advance his goal of Taiwan independence, which will provoke a crisis across the Taiwan Strait," added Wu.

Persons: William Lai Ching, Taiwan's, Lai, —, Wiliam Lai Ching, Lai Ching, Xi Jinping, Wu Xinbo, Wu, Wang Yi, Jeremy Mark, William Lai, Chong Ja Ian, Chong, Tsai Ing Organizations: Democratic Progressive Party, Service, China's Taiwan Affairs Office, Chinese Communist Party, Shanghai's Fudan University, Reuters, Analysts, Lai's, Atlantic Council, Eurasia Group, KMT, National University of Singapore, Carnegie China, Channel News Asia Locations: China, Beijing, Taiwan, South America, Taiwan Strait, Taiwan's

☆ After racist threats forced a Southeast Asian restaurant to close down, the owner reopened a new restaurant as an homage to his immigrant parents
▼ + stars: | 2024-01-13 | by ( Yoonji Han | ) www.businessinsider.com time to read: +6 min

A Southeast Asian restaurant closed down last year after facing false accusations of serving dog meat. Anna Le Nguyen and Minh Rasavong Oriyavong help out in the kitchen of Love & Thai. Rallying togetherIn November, Rasavong reopened his restaurant under a new name: Love & Thai. The mural by Hana Luna Her at Love & Thai pays homage to Rasavong's family's journey to America. Customers have flocked to Love & Thai and shown their support, and Rasavong wants to share that support with others in the community.

Persons: —, David Rasavong, Rasavong, Anna Le Nguyen, Minh Rasavong, Richard Vogel, Louis, Yelp, David Rasavong Rasavong, Hana Luna, Rasavong's Organizations: Service, Google, Facebook, Business, Thai, &, US, Philippine -, People, Local, Love &, Customers Locations: Fresno, Laos, Thailand, United States, St, Philippines, Oregon, America

☆ Shanghai wants Microsoft to promote AI tech in city - govt
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: 1 min

A Microsoft sign at the U.S. tech giant's offices in Issy-les-Moulineaux, near Paris, France, January 25, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsBEIJING, Dec 5 (Reuters) - Shanghai authorities told Microsoft's (MSFT.O) visiting president on Tuesday they want his company to promote artificial intelligence technology to boost businesses there, the Chinese financial hub's government said. Chen Jining, Shanghai's Communist party Secretary, made the remarks while meeting Microsoft President and Vice Chair Brad Smith, the government said. Shanghai was also open to Microsoft collaborating on studying technology-related governance frameworks and standards, Chen said. Reporting by Beijing Newsroom;Our Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Microsoft's, Chen Jining, Brad Smith, Chen Organizations: Microsoft, REUTERS, Rights, Communist, Beijing Newsroom, Thomson Locations: Issy, Paris, France, Rights BEIJING, Shanghai

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