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☆ Disney's largest shareholder Vanguard reportedly backing management over Peltz in board fight
▼ + stars: | 2024-04-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Disney's largest shareholder, index fund manager Vanguard, plans to support management over Nelson Peltz's Trian Partners in Wednesday's board vote, Bloomberg News reported Tuesday, citing unnamed people familiar with the matter. Vanguard owns 7.8% of Disney shares. BlackRock , Disney's second -largest shareholder with 4.2% of shares, is also supporting the incumbent board and CEO Bob Iger, The Wall Street Journal reported Monday. The reporting on how Disney's largest shareholders are supposedly voting prompted harsh criticism from one-time shareholder activist Bill Ackman on Tuesday evening. Through an arrangement with former Marvel Chairman Ike Perlmutter, Trian controls 1.8% of Disney shares, making it the fifth largest shareholder.

Persons: Bob Iger, Nelson Peltz's, Disney's, Bill Ackman, Ackman, Ike Perlmutter, Trian, Neuberger Berman, CalPERS, Jamie Dimon, George Lucas Organizations: Walt Disney Company, Shanghai Disney Resort's, Shanghai Disney Resort, Vanguard, Nelson Peltz's Trian Partners, Bloomberg News, Institutional, Disney, BlackRock, Street, Geode Capital Management, Marvel, Retail, JPMorgan Chase, Star Wars, CNBC, Bloomberg Locations: Shanghai, China, Disney's

☆ The Bizarre Chinese Murder Plot Behind Netflix’s ‘3 Body Problem’
▼ + stars: | 2024-04-01 | by ( David Pierson | ) www.nytimes.com time to read: +1 min

The video game tycoon had wanted to turn one of China’s most famous science-fiction novels, “The Three-Body Problem,” into a global hit. He had started working with Netflix and the creators of the HBO series “Game of Thrones” to bring the alien invasion saga to international audiences. But Mr. Lin did not live to see “3 Body Problem” premiere on Netflix last month, drawing millions of viewers. Sidelined at work, Mr. Xu reportedly exacted vengeance with meticulous planning, including by testing poisons on small animals in a makeshift lab. (He not only killed Mr. Lin, but also poisoned his own replacement.)

Persons: Lin Qi, “, Lin, Xu Yao, Lin’s, Xu Organizations: Netflix, HBO Locations: Shanghai

☆ An executive who worked on '3 Body Problem' was sentenced to death for fatally poisoning the Netflix show's producer
▼ + stars: | 2024-04-01 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +1 min

Lin Qi, who helped bring "3 Body Problem" to screens, died before the series aired. He was poisoned in 2020 by Xu Yao, who headed up a subsidiary which oversaw adaptations of the book. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA former Yoozoo Games executive has been handed a death sentence for the murder of a producer on Netflix's sci-fi show "3 Body Problem." According to The New York Times, the Shanghai First Intermediate People's Court found Xu Yao guilty of fatally poisoning Lin Qi, who was dubbed China's "billionaire millennial."

Persons: Lin Qi, Xu Yao, Xu, —, Lin Organizations: Service, Yoozoo Games, The New York Times, Shanghai

☆ U.S. consumer plays in China are more than coffee and iPhones. Stocks to watch
▼ + stars: | 2024-03-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Domino's Pizza's China operator DPC Dash reported Wednesday its 26th straight quarter of same-store sales growth — including the pandemic period. Pizza push Domino's has a roughly 14% stake in DPC Dash, which listed in Hong Kong about a year ago. Woo has a buy rating on DPC Dash and a price target of 73.05 Hong Kong dollars. "Chinese people do eat pizza," DPC Dash CEO Wang said. Yum China, which owns Pizza Hut in China among other brands, is set to release earnings in late April.

Persons: DPC Dash, they've, Xi Jinping, Papa John's, Papa, DPC, Aileen Wang, Wang, Walter Woo, Woo, McDonald's, That's, Christopher J, Kempczinski Organizations: Starbucks, Apple, HSBC, U.S, DPC, Advertising, Hong, Hong Kong Stock Exchange Locations: China, Shanghai, U.S, DPC, Hong Kong, North America, Beijing, Xi'an, Changsha, FY24E, Thurs

☆ A global scramble to make humanoid robots is gearing up to be the 21st century's space race
▼ + stars: | 2024-03-30 | by ( Joshua Zitser | Jyoti Mann | ) www.businessinsider.com time to read: +11 min

Humanoid robots are symbols of power and technological capability, a geopolitics expert says. An incident earlier this month involving a Saudi humanoid robot inappropriately touching a female reporter might not at first seem even remotely connected. AdvertisementHumanoids are visual representations of breakthroughs in AIIn Italy, the Istituto Italiano di Tecnologia is working on iCub, a research-grade humanoid robot. AdvertisementChina wants to take the leadWhen it comes to humanoid robots, China is vying for the top spot, so it's no wonder other nations are getting nervous. "The vast magnitude of the market offers an unmatched chance to test, improve, and expand the uses of humanoid robots," he said.

Persons: —, Neil Armstrong's, Muhammad, Elie Metri, Giorgio Metta, Metta, there's, Zen Koh, Koh, Peggy Johnson, Johnson, it's, David Becker, OpenAI, Mercedes, Tesla, Julian Mueller, Kaler, Mueller, Tang Ke, Li Boyang, Will Jackson, Johannes Simon, you've, Jackson, we're, Gartner, Nvidia's, Melonee Wise, Justin Sullivan, Metri Organizations: Service, Robotics, QSS Robotics, Muhammad, Istituto, Tecnologia, European Union, Ministry of Industry, Information Technology, Fourier Intelligence, Getty, BMW, Strategic Foresight, Stimson, TIME, Beijing, Conference, Boston Dynamics, Arts, Engineered Arts, GTC, Getty Images Saudi Locations: China, Saudi Arabia, Italy, Soviet Union, Saudi, DeepFest, Riyadh, Robotics Saudi Arabia, India, Nigeria, Shanghai, Oregon, Las Vegas, Texas, Beijing, China's Liaoning Province, San Jose , California, Getty Images Saudi Arabia, QSS, Europe

☆ 8 things you need to know about EV startup founder William Li — known as China's version of Elon Musk
▼ + stars: | 2024-03-30 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +6 min

The Shanghai-based premium EV company was co-founded in 2014 by its CEO, William Li. William Li, also known as Bin Li, has been dubbed the "Elon Musk of China" for his push to develop self-driving EVs and his loyal fan base. He co-founded his first major company in his mid-twentiesBitauto, a car comparison website, was co-founded by Li in 2000. AdvertisementAnyone who purchases a Nio car can access "Nio Houses" equipped with meeting rooms, lounges, baristas, and supervised kids' play areas. To Li's dismay, Nio cars are not yet available for sale in the USLi has expressed dissatisfaction with the US tariffs on Chinese-made EVs.

Persons: William Li, Li, —, Bin Li, Elon, EVs, he's, Tesla, Zoey Zhang Li, Nio, Li livestreamed, HECTOR RETAMAL, ET7, ALY, Elon Musk Organizations: Service, REUTERS, Peking University, New York Stock Exchange, NYSE, CNBC, Reuters Locations: China, Shanghai, Anhui, Nio, Europe, Xiamen, Mexico

☆ Why do we toss coins into fountains?
▼ + stars: | 2024-03-30 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +5 min

CNN —All over the world, and for centuries, people have thrown coins into fountains, wishing wells and rivers for good luck. Some fountains collect thousands, or even millions, of dollars worth of coins each year. George Rose/Getty ImagesWhere the money goesSome well-known fountains can collect thousands of dollars in coins each year. According to an NBC report from 2016, the Trevi Fountain accumulated about $1.5 million in coins that year. A spokesperson for the Mall of America in Minneapolis told CNN the fountains collect about $25,000 each year.

Persons: It’s, “, Trevi, Bill Maurer, Maurer, “ It’s, ”, Stefan Krmnicek —, —, Pen Rhys, Ganesha, George Rose, Basil E, ” Maurer Organizations: CNN, UC Irvine, University of California Irvine’s School of Social Sciences, Century Fox, University of Tuebingen, Bellagio, Casino, NBC, Trevi, The Metropolitan Museum of Art, New York City, of, Disney Parks Locations: Rome, England’s Northumberland County, England, Turkey, Rome's, Germany, East Asia, Shanghai, Oxford, Las Vegas , Nevada, New York, of America, Minneapolis, America

☆ Tesla's stock wraps up one of its worst quarters on record as global dominance wanes
▼ + stars: | 2024-03-29 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +11 min

Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in the company's shareholder communications. Tesla's Model 3 is about $4,000 more than that. Aging lineup, early days for Cybertruck While EV sales are still gaining popularity worldwide, the growth rate has slowed. In a push for end-of-quarter sales, Musk recently mandated that all sales and service staff install and demo FSD for customers before they hand over their cars. Despite its name, Tesla's premium option requires a human driver at the wheel, ready to steer or brake at any moment.

Persons: Florence Lo, Tesla, Troy Teslike, Tesla's, China's BYD, BYD, Lei Jun, Emmanuel Rosner, Rosner, Elon Musk, Krisztian Bocsi, Rohan Patel, Musk, Sandy Munro, Forbes, Larry Magid, Donald Trump, He's, he's, Investor Ross Gerber, who've, Brad Gerstner, Gerstner, FSD Organizations: Reuters, FactSet, Independent, Qin, Tesla's, China Passenger Car Association, Bloomberg, Deutsche Bank, Tesla, Volvo, Elon, Tesla Inc, Getty, IF Metall, IF Metall's, IF, Pew Research, Gallup, Investor, CNBC, Bears, S3 Partners, U.S Locations: Beijing, China, China In China, Shanghai, Europe, Red Sea, Iran, Gruenheide, Germany, Brandenburg, Berlin, Swedish, Sweden, U.S, Austin , Texas, San Jose , California, Fremont , California, Florida, Haiti, Texas, Delaware

☆ Ancient DNA reveals what famed Chinese Emperor Wu may have looked like
▼ + stars: | 2024-03-28 | by ( Katie Hunt | ) edition.cnn.com time to read: +5 min

CNN —Ancient DNA recovered from the remains of a sixth century Chinese emperor who ruled during the country’s dark ages has shed some light on what the leader may have looked like. Emperor Wu ruled China as part of the Northern Zhou dynasty from 560 to 580 and is credited with unifying the northern part of ancient China during a particularly chaotic period. “Our analysis shows Emperor Wu had typical East or Northeast Asian facial characteristics.”The authors said they hoped ancient DNA might shed light on Wu’s cause of death. The genetic analysis showed that Emperor Wu intermarried with ethnically Han Chinese, China’s dominant ethnic group today. “It’s interesting to see the genetic study, but none of the findings of this genetic study are surprising at all,” Miller said.

Persons: Emperor Wu, Wu, ”, Shaoqing Wen, Tobias Houlton, University of Dundee , Houlton, Jeong Hoongwon, Jeong, ” Jeong, Franks, Bryan Miller, Miller, wasn’t, ” Miller, “ Organizations: CNN, Fudan University, University of Dundee, Seoul National University’s School of Biological Sciences, Han, Central, University of Michigan Locations: China, Mongolia, Shanghai, Seoul, North

Tokyo's Sézanne is the newly crowned winner of "Asia's 50 Best Restaurants 2024" list. The two Michelin-starred neo-classical French restaurant, located on the 7th floor of the Four Seasons Hotel Tokyo at Marunouchi, climbed from No. Japan had nine restaurants make this year's list, as did the small city-state of Singapore. Odette, which has been in the top 10 list since 2017, is still the highest-ranking restaurant in Singapore (No. Restaurants on the top 50 list are dispersed among 19 cities in Asia.

Persons: Singapore —, Seroja, Les Amis, Gaggan Anand, Le Du Organizations: Michelin Locations: Marunouchi, Japan, Singapore, China, Hong Kong, Shanghai, Macao, Asia, Bangkok

☆ Asia’s 50 best restaurants for 2024 revealed
▼ + stars: | 2024-03-27 | by ( Karla Cripps | ) edition.cnn.com time to read: +5 min

CNN —After losing the number one spot to Bangkok in 2023, Tokyo has reclaimed its crown as the city with the top eatery in the region at the annual Asia’s 50 Best Restaurants Awards, which were announced in Seoul, South Korea on Tuesday evening. The list – part of the global “World’s 50 Best” brand – is compiled by the Asia’s 50 Best Restaurants Academy, which is made up of more than 300 food critics, writers, chefs and restaurateurs, all selected for their knowledge of Asia’s restaurant scene. Though Singapore didn’t have any restaurants in the top five, nine of its venues made the top 50 list – more than any other city. Courtesy The World's 50 BestThe “Asia’s Best Female Chef” award went to Pichaya ‘Pam’ Soontornyanakij, owner of Bangkok restaurant Potong, which came in at 17 on this year’s list. Mineko Kato of restaurant Faro in Tokyo won the Asia’s Best Pastry Chef award and Kevin Lu of Logy, in Taipei, was voted Asia’s Best Sommelier.

Persons: Daniel Calvert, Calvert, “, ”, Sézanne, I’ve, we’d, Gaggan, Seroja, Gaggan Anand, Thitid “, Sühring, Le Du –, Ton, Bangkok –, Odette, Pichaya, Pam ’ Soontornyanakij, Ton’s Nusara, Mineko Kato, Kevin Lu, Logy, Sung Anh, Mosu, Danny Yip, Hong, Le, Fu, Hui, Samrub, Villa, Ling Long, Ando, Les Amis, Baan, Goh, Anan, Tam’s Organizations: CNN, Marunouchi, Restaurants Academy, Hospitality, Toyo, Meta, Studio, Bund Locations: Bangkok, Tokyo, Seoul, South Korea, Japan, France’s Champagne, Maronouchi, Asia, ”, Kolkata, Hong Kong, Singapore, Thai, ” Singapore, Faro, Taipei, Nusara, Suhring, Osaka, Odette, Sorn, Le Du, Potong, Shanghai, Logy, Masque, Mumbai, Manila, Delhi, Seroja, Taichung, Taiwan, Mume, Wakayama, Lolla, Avartana, Chennai, India, Fukuoka, Jakarta, Kyoto, Anan Saigon, Ho Chi Minh City, Macao

☆ Mumbai overtakes Beijing to become Asia's billionaire capital for the first time
▼ + stars: | 2024-03-27 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +1 min

With 92 billionaires, Mumbai ranks third behind New York and London, but ahead of Beijing, and Shanghai. Tuul & Bruno Morandi | The Image Bank | Getty ImagesMove over, Beijing. Mumbai is now the Asian capital with the most number of billionaires, according to Hurun Research Institute's global rich list. In Asia, Mumbai — India's financial capital — moved ahead with 92 billionaires, according to Hurun. Following close behind are Beijing (91) and Shanghai (87).

Persons: Bruno Morandi, Topping, — Organizations: New, Tuul, Bank, Getty, Research, New York, London, Mumbai, Beijing, Shanghai, Shenzhen, Hong Kong, Moscow, New Delhi, San Francisco, Hurun Research, United States, India, United Kingdom, Germany, Russia, Italy, France Locations: Mumbai, New York, London, Beijing, Shanghai, Asia, China, U.S, India, Switzerland, Brazil

☆ 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

☆ China's Xi meets U.S. executives as businesses navigate bilateral tensions
▼ + stars: | 2024-03-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +8 min

The forum this year coincided with other efforts to attract foreign business. However, a combination of geopolitical tensions, regulatory uncertainty and slower economic growth have made it more challenging for foreign businesses in China. ... foreign companies share the same lack of confidence and worries about an uncertain future that is felt amongst much of China's domestic industry. Looking for economic clarityFor businesses considering China investment plans, the country's near-term growth outlook is another factor. He emphasized China's large market, industrial supply chain, and pointed out how China has worked on issues such as data exports and equal market treatment for foreign businesses.

Persons: Tim Cook, Management Dean Bai Chong, Xi Jinping, Stephen Schwarzman, Cristiano Amon, Mark Carney, Rajesh Subramaniam, Joe Biden, Carlos Gutierrez, Sean Stein, Gutierrez, Biden, Scott Kennedy, Peter Bachmann, Bachmann, Kennedy, Stephen S, Roach, Yale Law School's Paul Tsai, he's, China's, Han Zheng, Amin H, Nasser Organizations: Apple, China Development Forum, Tsinghua University School of Economics, Management, China News Service, Getty, U.S . Blackstone, Qualcomm, Bloomberg, FedEx, China, Cyberspace Administration, U.S, American Chamber of Commerce, of Commerce, Scott, Scott Kennedy Center for Strategic, Studies, China Centre, University of Applied Sciences, Arts Northwestern Switzerland, Center for Strategic, International Studies, Yale Law, Yale Law School's Paul Tsai China, Communist Party, Invest, CNBC, Aramco Locations: China, BEIJING, U.S, San Francisco, Beijing, Shanghai, Washington ,, Saudi

☆ Why Elon Musk Needs China
▼ + stars: | 2024-03-27 | by ( Mara Hvistendahl | ) www.nytimes.com time to read: 1 min

When Elon Musk first set up Tesla’s factory in China, he appeared to have the upper hand. He also got workers accustomed to long hours and fewer protections, after clashing with U.S. regulators over labor conditions at his California plant. The Shanghai factory helped make Tesla the most valuable car company in the world and Mr. Musk ultrarich. Mr. Musk helped create his competition, Chinese E.V. makers that are taking market share and becoming a security concern for the United States and Europe.

Persons: Elon Musk, Tesla, Musk Locations: China, California, Shanghai, United States, Europe

☆ Elon Musk got special favors and access from China that could leave him exposed, report says
▼ + stars: | 2024-03-27 | by ( Tom Porter | ) www.businessinsider.com time to read: +1 min

Elon Musk was granted special favors to set up Tesla plants in China, a report said. But it leaves him exposed to leverage from Beijing, critics told The New York Times. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChina handed Elon Musk special privileges to set up a Tesla plant in the country, but it may leave him vulnerable to leverage from Beijing, The New York Times reported. It describes how Musk was offered concessions from the Chinese government to set up a Tesla plant in Shanghai.

Persons: Elon Musk, Musk, —, Elon Organizations: New York Times, Service, China, The New York Times, Construction, Business Locations: China, Beijing, Taiwan, The, Shanghai

When Elon Musk unveiled the first Chinese-made Teslas in Shanghai in 2020, he went off script and started dancing. Mr. Musk had reason to celebrate. Mr. Musk would build one in Shanghai that would become a flagship, accounting for over half of Tesla’s global deliveries and the bulk of its profits. Mr. Musk initially seemed to have the upper hand in the relationship, securing concessions from China that were rarely offered to foreign businesspeople. Tesla’s China pivot has also tethered Mr. Musk to Beijing in a way that is drawing scrutiny from U.S. policymakers.

Persons: Elon Musk, Musk, Tesla Locations: Shanghai, China, Beijing

☆ Apple's iPhone China shipments in February look even worse than estimated
▼ + stars: | 2024-03-26 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Apple's iPhone shipments in China have fallen again, government data show. Apple shipped roughly 2.4 million smartphones in February — a 33% drop from 2023, per Bloomberg. AdvertisementThe latest iPhone data out of China imply Apple's still having a tough time in one of its biggest markets. Counterpoint Research, in its report released in early March, estimated that iPhone sales in China had dropped by 24% in the first six weeks of the year. "In essence, Apple needs China, and China needs Apple."

Persons: —, Apple's, That's, it's, Dan Ives, Nicole Peng, Peng, Tim Cook, Ives Organizations: Apple, Bloomberg, Huawei, Service, China Academy of Information, Communications Technology, Counterpoint Research, Wedbush Securities, EU, China, Forum, CCP, Business Locations: China, Shanghai, Beijing

☆ Texan bitcoiners start mining in Argentina, where peso is in freefall
▼ + stars: | 2024-03-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

For two Texas-based bitcoin miners, the oil deposit offers a dream resource: wasted energy. Brent Whitehead and Matt Lohstroh, both graduates of Texas A&M University, have been mining bitcoin on the oil fields of East Texas since 2019. That's when they founded Giga Energy with the goal of taking flared natural gas and turning it into electricity to run bitcoin mines, which are notoriously power-thirsty. Whitehead comes from a long line of "wildcats," a term used to describe those who engage in high-risk exploratory drilling. On the small pilot site in Argentina, Exa Tech is handling operations on the ground, Phoenix Global is providing the gas and Giga is supplying the equipment.

Persons: Brent Whitehead, Matt Lohstroh, Vaca, Whitehead Organizations: Texas, M University, Giga Energy, Giga, Phoenix Global Resources, IT, Tech, Energy Systems, CNBC, wildcats, Exa, Phoenix Global Locations: Texas, Argentine, Mendoza, East Texas, Argentina, Shanghai, Vaca Muerta, Denver

☆ 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

TOKYO (AP) — Asian shares were trading mixed on Monday, as investors awaited further indications the Federal Reserve might begin cutting interest rates. A top Japanese finance official expressed reservations about the recent surge in the U.S. dollar against the Japanese yen, fueling speculation about possible intervention in the market. Despite the BOJ’s decision to hike rates, cautious communication failed to stimulate demand for the Japanese yen,” said Luca Santos, currency analyst ACY Securities. The yield on the 10-year Treasury fell to 4.21% from 4.27% late Thursday. The U.S. Federal Reserve has indicated it may deliver three cuts to interest rates this year, as long as inflation keeps cooling.

Persons: Seng, Korea's Kospi, ”, Luca Santos, Brent Organizations: TOKYO, Reserve, Nikkei, Shanghai, U.S ., U.S, of, of Japan, ACY Securities, Dow Jones, Nasdaq, Treasury, U.S . Federal Locations: of Japan, Japan, U.S

☆ China is trying to connect Southeast Asia by high-speed rail. Here’s how that’s going
▼ + stars: | 2024-03-25 | by ( Heather Chen | ) edition.cnn.com time to read: +10 min

CNN —Imagine jumping on a train in southwestern China, traveling some 2,000 miles and arriving in Singapore – less than 30 hours later. Southeast Asia is the “obvious” choice because of its “proximity to China,” Bowerman adds. “Beijing, I think, ultimately wants to see Southeast Asian countries within its sphere of geopolitical influence. A staff member waits for passengers to board the Jakarta-Bandung high-speed train during a week-long public trial phase at the Halim station in Jakarta on September 17, 2023. “In the example of a high-speed railway line between Malaysia and Singapore, Singapore would likely have just one stop – Malaysia would have more,” Wong told CNN.

Persons: China’s, Gary Bowerman, ” Bowerman, ”, Pon Souvannaseng, Peerapon Boonyakiat, Bowerman, Pan Wenbo, Pan, Mei Wei, Wei, “ I’m, Xi Jinping’s, Souvannaseng, Hong Kong –, Hong Kong’s, Yasuyoshi Chiba, Wong Muh Rong, ” Wong Organizations: CNN, Initiative, China Railway, Reuters, East Japan Railway Co, Malaysian, Bentley University, of, Communist Party, Laos Railway, Laos Railway cumulatively, Orient Express, Getty Locations: China, Singapore, Asia, Laos, Kunming, Vientiane –, Indonesia, Jakarta, Bandung, West Java, Thailand, Bangkok, Thai, Malaysia, Kuala Lumpur, Southeast Asia, “ China, Peerapon, Cities, Penang, Malacca, Phuket Old Town, Beijing, Vietnam, Philippines, Cambodia, Wat, Siem Reap, ”, Kowloon, Hong Kong, Shanghai, Halim, AFP, “

☆ Adam Neumann makes a $500 million bid for WeWork that could hit $900 million if financing and diligence firm up
▼ + stars: | 2024-03-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Adam Neumann has submitted an unsolicited bid in excess of $500 million to acquire WeWork out of bankruptcy, a person familiar with the matter told CNBC. That bid could go up to $900 million pending due diligence, the person said. Neumann, his family office Nazare, and his Andreessen Horowitz-backed real estate venture Flow filed a notice of appearance in WeWork's bankruptcy docket on Monday. Flow did not respond to CNBC's request for comment regarding the $900 million potential bid. Neumann's bid, which was first reported by the Wall Street Journal, may complexify WeWork's bankruptcy proceedings.

Persons: Adam Neumann of WeWork, Victor Fung Kwok, Adam Neumann, Dan, Neumann, Andreessen Horowitz, —, WeWork, we've, it's, lessors Organizations: Fung Group, CNBC, Board, Wall Street Locations: Shanghai, China

☆ Apple to launch Vision Pro in China this year, Tim Cook says
▼ + stars: | 2024-03-25 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

In a video posted on one of CCTV's accounts on Chinese social media site Weibo, Cook was heard responding "yes," when asked if the Vision Pro would launch in China this year. In China, Apple will compete against local headset players such as Pico, which is owned by TikTok's parent company ByteDance. Cook has been in China for the past few days, touring a new Apple store in Shanghai and attending the China Development Forum in Beijing. "I am very confident in it (China)," Cook said, according to news package posted on one of CCTV's Weibo accounts. "I love China, I love being here, I love the people and the culture.

Persons: Cook, China Organizations: Apple, China Development Forum, Huawei Locations: U.S, Weibo, China, Pico, Shanghai, Beijing

☆ China needs Apple even as it tries to push foreign firms out, economist says
▼ + stars: | 2024-03-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China is unlikely to push Apple out of the country, Shehzad Qazi of China Beige Book told CNBC. "In sectors where they think reliance on American firms — software, hardware, anything talked about — is going to become a national security threat, they want American companies out. "In essence Apple needs China and China needs Apple despite all the noise," he said. "With 90% of the supply chain cemented in China Apple will over time move some manufacturing to India, Vietnam, and other regions. However, the vast majority of its iPhone production and suppliers will remain in China and this trip was Apple essentially doubling down on China."

Persons: Shehzad Qazi, Wedbush's Dan Ives, —, Qazi, disinvestment, Dan Ives, Tim Cook, Ives Organizations: CNBC, Apple, Service, Micron, Intel, AMD, Wedbush Securities, China Development, China Apple Locations: China, Beijing, That's, India, Vietnam, Shanghai

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