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☆ One of China's neighbors says it's pulled a key patrol vessel out of the South China Sea after a 5-month standoff
▼ + stars: | 2024-09-16 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Read previewThe Philippines has withdrawn one of its key patrol vessels from the South China Sea, where tensions with China have been growing in recent months. But, he added, its presence in the waters had been "further complicated by the structural damage to the vessel resulting from the deliberate ramming by the China Coast Guard on August 31, 2024." AdvertisementThe Teresa Magbanua has operated since April around Sabina Shoal — a disputed island in the South China Sea that has become a key flash point between the Philippines and China. Earlier this month, the Philippines' Rear Adm. Roy Vincent Trinidad told the Daily Tribune that the Teresa Magbanua had been outnumbered by more than 50 Chinese ships. China "has indisputable sovereignty over Xianbin Jiao and its adjacent waters," Liu Dejun, a spokesperson for China's Coast Guard, said, using the island's Chinese name.

Persons: —, Jay Tarriela, BRP Teresa Magbanua, Teresa Magbanua, Tarriela, Roy Vincent Trinidad, Lucas Bersamin, Xianbin Jiao, Liu Dejun, Teresa Magbanua's, Alexander Lopez, Lopez Organizations: Service, Coast Guard, BRP, Philippine Coast Guard, Business, China Coast Guard, South China, coastguard, Daily Tribune, National Maritime Council, Armed Forces, Guard, China's Coast Guard, Reuters, Sunday Locations: South China, China, Philippines, Sabina, South, Philippine, China's, Sabina Shoal, Xianbin

☆ China and Philippines already at odds over South China Sea deal to ease Second Thomas Shoal tensions
▼ + stars: | 2024-07-23 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +7 min

The dilapidated BRP Sierra Madre ship of the Philippine Navy is anchored near Second Thomas Shoal in the Spratly group of islands in the South China Sea. Beijing claims “indisputable sovereignty” over almost all of the 1.3 million-square-mile South China Sea, and most of the islands and sandbars within it, including many features that are hundreds of miles from mainland China. Under President Ferdinand “Bongbong” Marcos Jr, the Philippines has taken increasingly assertive steps to protect its claim to shoals in the South China Sea, leading to several confrontations off the Philippine islands. The US is not a claimant to the South China Sea, but says the waters are crucial to its national interest of guaranteeing free passage through seas worldwide. A close up view taken on March 29, 2014 of the BRP Sierra Madre beached near the Second Thomas Shoal, part of the Spratly Islands in the South China Sea.

Persons: Hong Kong CNN —, Shoal, Ren’ai Jiao, ”, Mao Ning, pushback, Ritchie, Ferdinand “ Bongbong ” Marcos Jr, Marcos, Jake Sullivan, ” Sullivan, Thomas Shoal, Erik de Castro, Gregory Poling, “, ” Derek Grossman Organizations: Hong Kong CNN, BRP Sierra Madre, Foreign Ministry, The Philippine Department of Foreign Affairs, BRP, Philippine Navy, coastguard, US Navy, Aspen Security, US National, Reuters, Transparency Initiative, RAND Corporation Locations: Hong Kong, South, Manila, Beijing, Philippine, Spratly, Philippines, China, Palawan, Madre, South China, Second, The Philippines, Malaysia, Vietnam, Brunei, Taiwan, The Hague, Scarborough, BRP Sierra Madre, Washington, United States, Sierra Madre, BRP Sierra, Asia

☆ Chinese researchers test robot ‘guide dogs’ to help the visually impaired
▼ + stars: | 2024-07-08 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Shanghai — It’s less furry than a traditional companion, but a six-legged Chinese robot “guide dog” could one day help vision impaired people live with more independence, according to its research development team in Shanghai. The robot dog, which is currently being field-tested, is able to navigate its physical environment via cameras and sensors, including recognizing traffic light signals, which traditional guide dogs are unable to do. “If this robot guide dog comes onto the market and I could use it, at least it could solve some of my problems in traveling alone,” Li said. In China, there are just over 400 guide dogs for almost 20 million blind people, Gao said. “I think this could be a very large market, because there might be tens of millions of people in the world who need guide dogs.”

Persons: ”, Gao Feng, Jiao, Li Fei, Zhu Sibin, Li, Zhu, ” Li, Gao, “ Organizations: Shanghai, Jiao Tong University’s, of Mechanical Engineering, Jiao Tong University Locations: Shanghai, Australia, Britain, China, Labrador

☆ Philippines blames China for ‘personnel injury and vessel damage’ in South China Sea collision
▼ + stars: | 2024-06-19 | by ( Kathleen Magramo | Nectar Gan | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Manila has accused China of injuring Filipino personnel and damaging Philippine vessels during a South China Sea collision earlier this week, as tensions simmer over territorial disputes in the resource-rich and strategically important waterway. CNN has reached out to the Department of Foreign Affairs, the Armed Forces of the Philippines and the Philippine Coast Guard for comment. China claims “indisputable sovereignty” over almost all of the South China Sea, and most of the islands and sandbars within it, including many features that are hundreds of miles from mainland China. A supply ship and two rubber boats from the Philippines had attempted to “illegally” deliver supplies to the stranded warship, China Coast Guard spokesperson Gan Yu said. China’s Coast Guard also said it took measures including “warnings and interceptions, boarding inspections and forced evictions” against the Philippine vessels.

Persons: Shoal, “, Lin Jian, Ferdinand “ Bongbong ” Marcos Jr, Marcos, Ren’ai Jiao, Thomas, China’s, ”, Gan Yu, Matthew Miller Organizations: Hong Kong CNN —, Philippine Department of Foreign Affairs, Associated Press, Philippine Department of Foreign, CNN, Department of Foreign Affairs, Armed Forces, Philippine Coast Guard, Times, China Coast Guard, Foreign Ministry, Chinese Coast Guard, Philippine, South China, BRP, BRP Sierra Madre, Philippine Navy, China’s Coast Guard, US State Department Locations: Hong Kong, Hong Kong CNN — Manila, China, Philippines, Spratly, Philippine, South, South China, Manila, The Hague, Beijing, Palawan, Vietnam, Malaysia, Brunei, Taiwan, BRP Sierra, China’s, States

☆ South China Sea: US blasts ‘aggressive’ China over collision with Philippine ship
▼ + stars: | 2024-06-18 | by ( Kathleen Magramo | Nectar Gan | ) edition.cnn.com time to read: +7 min

China claims “indisputable sovereignty” over almost all of the South China Sea, and most of the islands and sandbars within it, including many features that are hundreds of miles from mainland China. China had “obstructed the Philippines from executing a lawful maritime operation in the South China Sea, interfering with the Philippines’ freedom of navigation,” Campbell said, according to a State Department readout. The Chinese coast guard on Monday said a Philippine supply ship “ignored China’s repeated solemn warnings” and “deliberately and dangerously” approached a Chinese vessel in “an unprofessional manner,” resulting in a collision. China Coast Guard spokesperson Gan Yu on Monday accused the Philippines of “illegally” delivering supplies to the stranded warship. It should now be clear to the international community that China’s actions are the true obstacles to peace and stability in the South China Sea.”

Persons: Shoal, Manila MaryKay Carlson, China’s, Ferdinand “ Bongbong ” Marcos Jr, Marcos, Matthew Miller, Kurt Campbell, Foreign Affairs Maria Theresa Lazaro, ” Campbell, “, ”, Francel Margareth Padilla, Adrian Portugal, Ren’ai Jiao, Thomas, Gan Yu, Gan, ” Gan, Jay Tarriela, Gilberto C, Teodoro , Jr Organizations: Hong Kong CNN, Philippine, US State Department, Foreign Affairs, Department, Guard, Philippine Coast Guard, Reuters, China Coast Guard, BRP, BRP Sierra Madre, Philippine Navy, Chinese Coast Guard, CNN, Armed Forces, ( Armed Forces, Philippine Defense Locations: Hong Kong, United States, China, Philippines, Philippine, Second, Spratly, South China, Manila, South, Beijing, The Hague, Palawan, Vietnam, Malaysia, Brunei, Taiwan, BRP Sierra, Thomas Shoal, “, West Philippine

☆ Crater offers new clue near-Earth asteroid is really a piece of the moon, scientists say
▼ + stars: | 2024-05-01 | by ( Ashley Strickland | ) edition.cnn.com time to read: +8 min

The space rock, known as 2016 HO3, is a rare quasi-satellite — a type of near-Earth asteroid that orbits the sun but sticks close to our planet. Astronomers first discovered it in 2016 using the Pan-STARRS telescope, or Panoramic Survey Telescope and Rapid Response System, in Hawaii. Scientists call the asteroid Kamo’oalewa, a name derived from a Hawaiian creation chant that alludes to an offspring traveling on its own. Kamo’oalewa specimen: A connecting puzzle pieceStudying crater impacts on the moon can also help scientists better understand the consequences of asteroid impacts should a space rock pose a threat to Earth in the future. There’s no other place, no other planet in our solar system with a moon like our moon.

Persons: they’ve, Giordano Bruno, Yifei Jiao, ”, Erik Asphaug, Kamo’oalewa, “ You’d, Asphaug, ” Jiao, ” Asphaug, Renu Malhotra, China’s, Patrick Michel, Noah Petro, Artemis III, Petro, “, ” Petro, “ It’s Organizations: CNN, Survey Telescope, University of Arizona’s, Laboratory, Tsinghua University, University of, London, NASA, Arizona State University, University of Arizona, National Centre for Scientific Research, Reconnaissance, Artemis Locations: Hawaii, Beijing, “, France

☆ A controversial study says intermittent fasting may shorten your lifespan. It shows how little we really know about the long-term effects.
▼ + stars: | 2024-03-18 | by ( ) www.businessinsider.com time to read: +7 min

A new study links intermittent fasting to a higher risk of early death instead of longevity. While there's not yet enough evidence to say intermittent fasting is risky, the findings suggest we may have a lot more to learn about whether it's good for our health in the long run. However, some rigorous studies on intermittent fasting have found mixed results: some suggest it's no better for you than other diets, and isn't worth the side effects like hunger. people who follow the 16:8 diet — would have a lower risk of dying during the study, and better heart health. Advertisement"Overall, this study suggests that time-restricted eating may have short-term benefits but long-term adverse effects," Gardner said in a press release.

Persons: —, there's, Victor Wenze Zhong, Krista Varady, Varady, David Spiegelhalter, Christopher D, Gardner, Zhong Organizations: Service, Shanghai Jiao Tong University School of Medicine, American Heart Association, University of Illinois Chicago, University of Cambridge Locations: Shanghai, China, Chicago, Stanford

☆ South China Sea: On board an outnumbered Philippine ship facing down Chinese aggression
▼ + stars: | 2024-03-06 | by ( Rebecca Wright | Ivan Watson | ) edition.cnn.com time to read: +15 min

Near Second Thomas Shoal, South China Sea CNN —As dawn slowly broke on the horizon, a large fleet of Chinese vessels came into view from the deck of a Philippine Coast Guard ship as it entered the contested waters of the South China Sea. Filipino soldiers on the dilapidated Sierra Madre ship, anchored near the Second Thomas Shoal in the South China Sea, on May 11, 2015. The US military also maintains a regular presence in the South China Sea, with aircraft overflights, so-called “freedom of navigation” operations, and patrols and exercises with allies and partners to assert that the South China Sea is an international waterway. The Philippine Coast Guard said it counted five China Coast Guard vessels and 18 boats belonging to Beijing’s “maritime militia." Rebecca Wright/CNNTarriela, the Coast Guard spokesperson, said a China Coast Guard vessel had come within 20 yards (60 feet) of the Cabra.

Persons: David, Goliath, “, ”, Thomas Shoal, Rebecca Wright, Sabina, Ritchie, Jiao, –, Jay Tarriela, Mao Ning, China Coast Guard “, Thomas, Ferdinand “ Bongbong ” Marcos Jr, Rodrigo Duterte, Marcos Jr, Jose Manuel Romualdez, CNN Tarriela, Tomas Etzler, Erik de Castro, month’s, ” Tarriela, ‘, Collin Koh, ” Koh, Ray Powell, SeaLight, “ Will, ” Powell, we’ve Organizations: South China, CNN, Philippine Coast Guard, Philippine, Armed Forces, China Coast Guard, ” CNN, Philippine Navy, Coast Guard, Foreign Ministry, Sierra Madre, Center for Strategic, Studies, China Power, Ministry, Washington, Philippine News Agency . Diplomacy, Coast Guardians, Guard, Madre, Reuters, USS, China, Rajaratnam, of International Studies, National Security, Stanford University Locations: South, South China, Philippines, United States, Philippine, China, Bulilyan, Palawan, Sierra Madre, Sierra, The Philippines, Vietnam, Malaysia, Brunei, Taiwan, Madre, Hague, Beijing, China’s, Manila, Shanghai, Singapore

☆ Diet and sugary drinks boost risk of atrial fibrillation by up to 20%, study says
▼ + stars: | 2024-03-05 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +6 min

Atrial fibrillation is dangerous and on the riseAtrial fibrillation is the leading cause of stroke in the United States. Atrial fibrillation can also lead to blood clots, heart failure and “can increase the risk for heart attack, for dementia, for kidney disease. Replacing both diet and added sugar sodas with water is best to reduce chances of atrial fibrillation, experts say. The rate of atrial fibrillation in the US population is growing: The CDC estimates some 12 million Americans will have A-fib by 2030. “Do not take it for granted that drinking low-sugar and low-calorie artificially sweetened beverages is healthy, it may pose potential health risks.”

Persons: ”, Penny Kris, Etherton, Kris, “, Dr, Gregory Marcus, ” Marcus, Naveed Sattar, ” Sattar, Ningjian Wang, ” Wang Organizations: CNN, Pennsylvania State University, American Heart Association, US Centers for Disease Control, University of California, San Francisco School of Medicine, UCSF Health, Rhythm Society, University of Glasgow, Shanghai Ninth People’s Hospital, Shanghai Jiao Tong University School of Medicine Locations: United States, Scotland, Shanghai, China

☆ China opens the world's deepest and largest underground laboratory 7,800 feet below a mountain to hunt for dark matter
▼ + stars: | 2024-01-23 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +4 min

China has just opened the deepest and largest underground laboratory in the world. AdvertisementChina has opened the biggest and deepest underground laboratory in the world in a bid to uncover the secrets of dark matter. That leaves us with one overarching theory; that there is another type of matter acting on the universe, or so-called dark matter. CJPL hosts the Particle and Astrophysical Xenon Experiments (PandaX) and the China Dark Matter Experiment. "There is enough replication already," he said, adding that it may be better to try to find a new approach in the hunt for dark matter.

Persons: —, Gran, Ning Zhao, Juan Collar Organizations: Service, Gran Sasso National Laboratory, Nature News, Nature, Sanford Underground Research, Shanghai Jiao Tong, University of Chicago Locations: China, China's Sichuan Province, CJPL, Sichuan, Italy, , South Dakota, Shanghai, Shanghai Jiao Tong University, Illinois

☆ Hybrid vehicle sales surge in China, posing fresh threat to foreign automakers
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +6 min

A Li L7 electric SUV by Li Auto is displayed at the Auto Shanghai show, in Shanghai, China April 18, 2023. One-third of total vehicle sales by Toyota, the world's top-selling automaker, are already hybrids and the company reported a 34% surge in hybrid sales in the six months to end-September, outpacing 9% growth in overall revenue. Sales of HEVs in China, which Toyota still dominates with four top-selling models, tumbled 15%, while gasoline car sales dropped 11%, underscoring potential challenges facing foreign automakers. But it was a failed trial, with sales of just over 4,000 units, and GM in 2020 halted sales. BYD is expanding PHEV sales overseas, offering Han, Qin and Song lineups in Latin America, which has less charging infrastructure.

Persons: Li Auto, Aly, Xu Min, Yale Zhang, BYD, Li, Han, Qin, Stellantis, Leapmotor, Xu, Bill Russo, Zhang Yan, Brenda Goh, Miyoung Kim, Gerry Doyle Organizations: Li, Auto, REUTERS, Rights, Toyota, Honda, Shanghai Jiao Tong University's Institute, Intelligent, Reuters, China Association of Automobile Manufacturers, HK, Automotive Foresight, Reuters Graphics, Prius, General Motors, Buick, GM, Li Auto, Jiao Tong University, HEVs, Thomson Locations: Auto Shanghai, Shanghai, China, Europe, U.S, outpacing, United States, Shanghai Jiao, Reuters Graphics CHINA, America, Leapmotor, North America

It also slightly raised its 2023 forecast for growth in global oil demand and stuck to its relatively high 2024 prediction. Last week, oil prices slid to their lowest level since July, hurt by concerns that demand could wane in in top oil consumers U.S. and China. A U.S. crackdown on Russian oil exports could potentially disrupt supply, supporting prices further. Iraq's oil minister expects to reach an agreement with the Kurdistan Regional Government and foreign oil companies to resume oil production from the Kurdish region's oilfields and resume northern oil exports through the Iraq-Turkey pipeline. Focal points for the market include the International Energy Agency's latest monthly oil market report later in the day.

Persons: Dun Jiao, Tatiana Meel, Leon Li, Emily Chow, Edwina Gibbs, Stephen Coates Organizations: REUTERS, Rights, Brent, ING, Organization of, Petroleum, Strategic Petroleum Reserve, U.S . Treasury Department, Kurdistan Regional Government, of Commerce, International Energy, APEC, Markets, Thomson Locations: Nakhodka, Russia, Rights SINGAPORE, U.S, China, Washington, Moscow, Iraq, Kurdish, Turkey, Shanghai

☆ Oil prices edge up after OPEC says market fundamentals are strong
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Tatiana Meel/File Photo Acquire Licensing RightsSINGAPORE, Nov 14 (Reuters) - Oil prices inched up on Tuesday after an OPEC report said market fundamentals remained strong and due to concerns supplies might be disrupted as the U.S. cracks down on Russian oil exports. Last week, oil prices slid to their lowest level since July, hurt by concerns that demand could wane in in top oil consumers U.S. and China. Iraq's oil minister expects to reach an agreement with the Kurdistan Regional Government and foreign oil companies to resume oil production from the Kurdish region's oilfields and resume northern oil exports through the Iraq-Turkey pipeline. Oil prices were also supported by a U.S. crackdown on Russian oil exports, potentially disrupting supply. Focal points for the market include the International Energy Agency's latest monthly oil market report later in the day.

Persons: Dun Jiao, Tatiana Meel, Emily Chow, Edwina Gibbs Organizations: REUTERS, Rights, Brent, Organization of, Petroleum, ANZ Research, Kurdistan Regional Government, of Commerce, U.S . Treasury Department, Strategic Petroleum Reserve, International Energy, Energy, Thomson Locations: Nakhodka, Russia, Rights SINGAPORE, U.S, China, Iraq, Kurdish, Turkey, Washington, Moscow

China inflation data released on Thursday showed that October CPI fell 0.2% year on year, while PPI data fell 2.6% year on year. Earlier this week, customs data showed that China's total exports of goods and services contracted faster than expected, although the country's crude imports in October were robust. On the plus side for oil demand, China's central bank governor, Pan Gongsheng, said the country is expected to achieve its annual growth target of 5% for this year. U.S. crude oil inventories increased by 11.9 million barrels over the week to Nov. 3, sources said, citing American Petroleum Institute figures. The U.S. Energy Information Administration (EIA), however, has delayed release of weekly oil inventory data until Nov. 15 for a system upgrade.

Persons: Dun Jiao, Tatiana Meel, Brent, Pan Gongsheng, Andrew Hayley, Tom Hogue Organizations: REUTERS, Rights, PPI, Reuters, American Petroleum Institute, U.S . Energy Information Administration, Barclays, Thomson Locations: Nakhodka, Russia, Rights BEIJING, China, United States, Venezuela, American

☆ I moved my family from California to Texas 2 years ago. A friend warned me we would hate it — 6 months later, other families followed us.
▼ + stars: | 2023-10-25 | by ( Kiera Fields | ) www.businessinsider.com time to read: +7 min

Jian Jiao left the Bay Area in 2021 and moved his family to Austin, Texas. The Bay Area had a great job market for senior tech roles with many similar people around. AdvertisementAdvertisementAustin is expensive for Texas but cheap compared with the Bay Area. When my parents flew in from Beijing, they had multiple direct flights into the Bay Area. AdvertisementAdvertisementThe North Austin-South Austin divideMost of the new developments are in north Austin because that's where the tech hubs have been set up.

Persons: Jian Jiao, Jiao, Austin, —, we've, I've, it's, there's Organizations: Area, Service, BP, Google, Oracle, that's Locations: Austin , Texas, San Francisco, Austin, Sunnyvale, California, America, Orange County, Irvine, Southern California, Texas, Bay, Dallas, San Antonio, Houston, Beijing, South Austin

☆ Bernie Ecclestone: Ex-F1 boss spared jail after admitting tax fraud
▼ + stars: | 2023-10-12 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Reuters —Ex-Formula One boss Bernie Ecclestone was spared an immediate prison sentence on Thursday after he pleaded guilty to misleading Britain’s tax authority about overseas assets worth more than 400 million pounds ($492 million). Ecclestone has also agreed a civil settlement with HM Revenue and Customs (HMRC), under which he will pay 652.6 million pounds covering tax, interest and penalties for 18 tax years between 1994 and 2022, prosecutor Richard Wright said. The 92-year-old appeared at London’s Southwark Crown Court and pleaded guilty to one count of fraud by false representation, just over a month before he was due to stand trial. Belinda Jiao/ReutersJudge Simon Bryan gave Ecclestone a 17-month prison sentence suspended for two years, meaning he will only go to jail if he commits another criminal offense during that time. His lawyer Montgomery had noted at a previous hearing in January that Ecclestone was charged shortly after he made “unpopular” comments about Russian President Vladimir Putin.

Persons: Reuters —, Bernie Ecclestone, Ecclestone, Richard Wright, Belinda Jiao, Simon Bryan, Clare Montgomery, Ecclestone “, ” Ecclestone, Andrew Penhale, ” Richard Las, “, Elizabeth Cook, Bryan, Mr Ecclestone, Montgomery, Vladimir Putin Organizations: Reuters, HM Revenue, Customs, Southwark Crown, HMRC, Brabham, Crown Prosecution Service Locations: Southwark, Singapore

☆ Ex-F1 boss Bernie Ecclestone spared jail after admitting tax fraud
▼ + stars: | 2023-10-12 | by ( Sam Tobin | ) www.reuters.com time to read: +3 min

Ecclestone has also agreed a civil settlement with HM Revenue and Customs (HMRC), under which he will pay 652.6 million pounds covering tax, interest and penalties for 18 tax years between 1994 and 2022, prosecutor Richard Wright said. The 92-year-old appeared at London's Southwark Crown Court and pleaded guilty to one count of fraud by false representation, just over a month before he was due to stand trial. Ecclestone gave an unintelligible response to reporters as he left the court and got into a waiting Range Rover. Richard Las, chief investigation officer and director of the Fraud Investigation Service at HMRC, said Ecclestone had "lied to HMRC". The decision also states that Ecclestone paid around 250 million pounds in income and capital gains tax to HMRC between 1999 and 2017.

Persons: Bernie Ecclestone, Belinda Jiao, Ecclestone, Richard Wright, Simon Bryan, Clare Montgomery, Andrew Penhale, Richard Las, Bryan, Mr Ecclestone, Montgomery, Vladimir Putin, Sam Tobin, William James, Alex Richardson, Susan Fenton Organizations: Formula, Southwark Crown, HM Revenue, Customs, HMRC, Crown Prosecution Service, Thomson Locations: Southwark, London, Britain, Singapore

☆ With record youth unemployment, China’s jobs market is getting tougher for new graduates to crack
▼ + stars: | 2023-08-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

The unemployment rate for young people ages 16 to 24 in China has soared to record highs above 20% in May and April. Many requested anonymity since youth unemployment can be a sensitive topic in China, especially for those in the middle of a job search or just starting a career. watch nowThe unemployment rate for China's young people ages 16 to 24 climbed to a new record high in June of 21.3%. Youth unemployment has remained persistently high over the last three years, while the overall jobless rate for people in cities has officially stayed far lower, near 5%. Zhang expects the unemployment rate for young people to drop toward the end of the year, after the summer graduation season.

Persons: Kevin Frayer, Zhang Chenggang, —, Zhang, Cheung, Caixin, Sun, “ Organizations: Getty, BEIJING, CNBC, Shanghai Jiao Tong University, Huawei, U.S . News, Capital University of Economics, Business, U.S . Bureau of Labor Statistics, Cheung Kong Graduate School of Business Locations: China, Shanghai, U.S, Beijing

☆ Pirelli gets new board after battle over Chinese influence
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

MILAN, July 31 (Reuters) - Pirelli (PIRC.MI) investors on Monday approved a new board for the tyremaker, giving it a new three-year governance set-up after the Italian government last month took steps to curb the influence of the company's leading Chinese investor. Andrea Casaluci, previously General Manager Operations, has been promoted to CEO, Pirelli said in a statement. Pirelli's new chairman is Jiao Jian, the chief executive of leading shareholder Sinochem (600500.SS), the state-owned Chinese group. The intervention strengthened the influence of Camfin even though it has a smaller stake than Sinochem in the company, the tyre supplier for Formula One motor racing. As part of the measures, Camfin retained the power to designate Pirelli's CEO and set strategies, with limited power for Sinochem to influence the group's management.

Persons: Andrea Casaluci, Pirelli, Marco Tronchetti Provera, Provera, Jiao Jian, Sinochem, Camfin, Giulio Piovaccari, Alvise Armellini, Mark Potter Organizations: MILAN, Pirelli, Formula, Thomson Locations: Italian, Sinochem, China's

Star fund manager Zhang Kun, who manages nearly 90 billion yuan for Guangzhou-based E Fund Management, has seen his flagship 56 billion yuan Blue Chip Selected Mixed Fund lose 8% so far this year. The fund soared 95% in 2020 which attracted significant subscriptions and helped Zhang become China's first so-called "100 billion fund manager". Another high profile fund manager, Ge Lan at Lombarda China Fund Management, saw her flagship 28 billion yuan healthcare fund retreat 7% in 2021 and 23% in 2022, after a nearly 100% gain in 2020. "Not just mutual funds, the overall fund issuance is difficult, as this is closely connected with the economic situation," Steve Chen, partner of Shanghai-based hedge fund manager MX Capital. To boost market sentiment, some mutual funds announced fee cuts or started to purchase their own fund shares recently.

Persons: Thomas Peter HONG, Jiao Jinyuan, Zhang Kun, Zhang, Ge Lan, Emily Gao, Steve Chen, Debbie Dai, Dai, China Asset’s Jiao, Summer Zhen, Sumeet Chatterjee, Kim Coghill Organizations: REUTERS, Z, Ben Advisors, CSI, China Asset Management, Star, E Fund Management, China Fund Management, MX Capital, Thomson Locations: Beijing, China, Thomas Peter HONG KONG, Guangzhou, Shanghai

Prince Harry’s expected testimony on Tuesday in a phone-hacking case will be the first time in over 130 years that a prominent member of Britain’s royal family is cross-examined in court. The last time it happened was in 1891, and it didn’t go well for the royal family. It was unusual then, too, for such a prominent member of the royal family — the future king, no less — to appear in court. Richard Fitzwilliams, a royal commentator, said: “You can see from reading this why it was subsequently decided that this is not something the royal family want. Furthermore, while Harry is a high-profile member of the royal family, he is no longer a working royal.

Persons: Prince Albert Edward, Queen Victoria, Prince Harry’s, didn’t, Prince Albert Edward — Queen Victoria’s, King Edward VII, —, baccarat, Sir William Gordon, Cumming, Gordon, Richard Fitzwilliams, Edward, ”, ” Edward, Prince Harry, Belinda Jiao, Harriet Mordaunt, Fitzwilliams, Edward —, Bertie ”, Harry’s, Harry, Harry up, won’t, he’s, ” Mr, “ faultlessly, George V Organizations: Guardian, ., New York Times Locations: London

☆ Off-the-radar destinations every China visitor should consider
▼ + stars: | 2023-03-29 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +8 min

JingdezhenLarge chimneys, used for firing porcelain, dot the skyline of Jingdezhen city. gui yong nian/Adobe StockDubbed the porcelain capital of the world, Jingdezhen has been firing quality pieces of “white gold” for more than 1,700 years. For a crash course in the city’s porcelain history, visit the newly built and photogenic Jingdezhen Imperial Kiln Museum of China. LinhaiLinhai's historic city wall stretches more than 6,000 meters in length. Food aside, travelers should leave time to admire this historic city that dates back more than 2,000 years.

March 17 (Reuters) - Huawei Technologies Co Ltd's (HWT.UL) founder said that the company has replaced more than 13,000 parts in its products that were hit by U.S. trade sanctions, according to a transcript of a speech posted on Friday by a Chinese university. According to the transcript posted by Shanghai Jiao Tong University, Huawei founder Ren Zhengfei said Huawei had over the past three years replaced the 13,000 components with domestic Chinese substitutes and had redesigned 4,000 circuit boards for it products. He said production of circuit boards had "stabilized." The university posted the transcript on its website on Friday. Ren said Huawei invested $23.8 billion in R&D in 2022, and "as our profitability improves, we'll continue to increase R&D spending."

☆ Analysis: Oil rebound more likely this year, $100 a barrel possible, OPEC sources say
▼ + stars: | 2023-02-10 | by ( Alex Lawler | ) www.reuters.com time to read: +5 min

OPEC and OPEC+ do not publish oil price forecasts and do not have a price target. Officials and ministers from OPEC and OPEC+, are often reluctant to discuss the direction of prices on the record. Reuters spoke privately to five more OPEC country officials about the prospect of $100 oil. The IEA, which represents 31 countries including top consumer the United States, did not immediately reply on Friday to a request for comment on what $100 oil would mean for its members. In November, Birol said $100 oil was a real risk for the global economy.

☆ China to launch state-backed transport platform for ride-hailing, trucking
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, Jan 18 (Reuters) - China will soon launch a state-backed platform for transport which includes services of ride-hailing, cargo trucking, road transport, railway, ferry and flight services, Chinese state media Beijing Daily reported on Wednesday. China's ride-hailing market was dominated by Didi Global which ran afoul of powerful regulator the Cyberspace Administration of China in 2021. The 18-month ban on the ride-hailer was lifted on Monday after the company took effective measures to ensure platform safety and data security. The state-backed platform, called "Qiang Guo Jiao Tong" - or "Powerful Nation's Transportation" - will offer people convenient services while maintaining data security and protecting personal privacy, Beijing Daily reported. Other social media apps such as Wechat, Alipay and Douyin will be integrated into the platform, the report added.

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