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☆ U.N. Report Describes Physical Abuse and Dire Conditions in Israeli Detention
▼ + stars: | 2024-04-17 | by ( Aaron Boxerman | ) www.nytimes.com time to read: +1 min

Gazans released from Israeli detention described graphic scenes of physical abuse in testimonies gathered by United Nations workers, according to a report released on Tuesday by UNRWA, the U.N. agency for Palestinian refugees. Others described being badly beaten with metal bars or the butts of guns and boots, according to the report, or forced into cages and attacked by dogs. The New York Times has not interviewed the witnesses who spoke to UNRWA aid workers and could not independently verify their accounts. Israeli forces have arrested thousands of Gazans during their six-month campaign against Hamas, the Palestinian armed group. The Israeli military says it arrests those suspected of involvement in Hamas and other groups, but women, children and older people have also been detained, according to the UNRWA report.

Persons: Gazans Organizations: United Nations, UNRWA, New York Times, Times, Hamas Locations: Palestinian

☆ Eco-friendly data centers help drive $6.3 billion of green investment in Southeast Asia, but report shows more needed
▼ + stars: | 2024-04-16 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

The analysis, conducted by Bain & Company, GenZero, Standard Chartered and Temasek, found that $6.3 billion of green investments flowed into the region, representing a 21% year-on-year increase. Last year, Malaysia attracted large-scale green financing of over $500 million for at least two data centers, according to the Monday report. watch nowThe move came after the Singaporean government unveiled a sustainability standard for data centers operating in tropical climates. Despite these efforts, Singapore's overall green investments fell in 2023 to $0.9 billion from $1.2 billion a year prior. Green investment towards power in the region fell by 14% year-over-year for the second year in a row.

Persons: Singapore —, Kimberly Tan, GenZero's Tan Organizations: Istock, Getty, Bain & Company, GenZero, Chartered, International Energy Agency, Singapore Locations: Asia, Temasek, Malaysia, Singapore

☆ China accounted for two-thirds of new global coal plant capacity in 2023, report finds
▼ + stars: | 2024-04-15 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

The world added more coal power capacity last year than any year since 2016, with China driving most growth and future planned capacity, according to new research. A report by Global Energy Monitor released Thursday found that net annual coal capacity grew by 48.4 GW, representing a 2% year-over-year increase. China alone accounted for about two-thirds of new coal plant capacity. Other countries that brought new coal plants online included Indonesia, India, Vietnam, Japan, Bangladesh, Pakistan, South Korea, Greece and Zimbabwe. Coal power capacity, however, continues to steadily grow.

Persons: Champenois Organizations: Global Energy Monitor, GEM Locations: China, Indonesia, India, Vietnam, Japan, Bangladesh, Pakistan, South Korea, Greece, Zimbabwe, Paris

The U.S. has passed a series of export controls starting in October 2022 aimed at restricting China's access to advanced chip technology, particularly those used in AI applications. According to data from tech consultancy Omdia, China consumes nearly 50% of the world's semiconductors as it is the biggest market for assembling consumer devices. But, soon after, it was reported that Nvidia was working on a new chip made for China. The company did not respond to a request for comment on their plans for the China market. An analysis of Huawei's Mate 60 Pro smartphone by TechInsights revealed an advanced chip made by China's top chip maker, SMIC.

Persons: Wong Yu Liang, Chris Miller, William B, Bailey, Donald Trump, TechInsights Organizations: AMD MU, P Global, Intel, Broadcom, Qualcomm, Marvell Technology, U.S, The, CNBC, Nasdaq, Intelligence, Micron Technology, AMD, Nvidia, Huawei, Semiconductor Industry Association, America's Micron, country's Cyberspace Administration, Micron Locations: China, The U.S, U.S, Washington, Xi'an, Netherlands, Beijing

☆ The wreckage of the Titanic was found nearly 39 years ago during a secret US Navy mission to recover nuclear submarines
▼ + stars: | 2024-04-11 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +3 min

But the dive initially had nothing to do with the Titanic at all — it was a secret mission to find the wrecks of two nuclear submarines, the USS Scorpion and the USS Thresher. The USS Thresher sank in April 1963, and the USS Scorpion followed five years later, in May 1968. They remain the only nuclear submarines the Navy has ever lost, reported the United States Naval Institute. Xavier Desmier/Gamma-Rapho/GettyWith 12 days left in the mission, Ballard found the Titanic using a hunch that the ship had split in two and left a trail of debris. Correction: July 18, 2023 — An earlier version of this story misstated when the USS Scorpion disappeared.

Persons: —, Robert Ballard, Jean, Louis Michel, Ballard, Bettmann, Getty Ballard, Ronald Thunman, Xavier Desmier Organizations: Service, Titanic, Navy, New York Times, Business, USS, Geographic, National Geographic, US Navy, United States Naval Institute, Soviet Union Locations: American, French, Soviet

☆ Hong Kong seizes over $10 million worth of gold disguised as machine parts in record smuggling bust
▼ + stars: | 2024-04-09 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

In Hong Kong's largest gold smuggling bust, the city authorities seized an estimated $10.7 million worth of the precious metal that had been concealed as machine parts being shipped to Japan. Under Hong Kong law, any person found guilty of smuggling cargo is liable to a maximum fine of $2 million and imprisonment for seven years. A customs official told local reporters on Monday that this was the first case in which gold had been found concealed as machine parts. Hong Kong, which is one of the world's largest gold trading hubs, in February arrested another suspect for trying to smuggle gold bars out of the city. Both the cases had involved Macau-bound vehicles smuggling gold worth more than $1 million.

Organizations: Hong Kong's Locations: Hong, Japan, Hong Kong, There's, Macau, U.S

☆ U.S. offers TSMC up to $6.6 billion for Arizona factories as Biden pushes for chip security
▼ + stars: | 2024-04-08 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

TSMC 's Arizona subsidiary is set to receive up to $6.6 billion in U.S. government funding under a preliminary agreement announced by the Biden administration on Monday. The funding, under the U.S. CHIPS and Science Act, will support Taiwan Semiconductor Manufacturing Co.'s more than $65 billion investment in three cutting-edge fabrication plants in Phoenix, according to the nonbinding agreement. The Taiwanese multinational semiconductor company is also eligible for around $5 billion in proposed loans under the CHIPS Act. According to Raimondo, the funds will include $50 million to train and develop local talent in Arizona, with TSMC Arizona having already created more than 25,000 jobs and attracted 14 semiconductor suppliers for the state. The CHIPS Act, passed in August 2022, is an almost $53 billion package aimed at building the U.S. domestic semiconductor industry to boost the country's economy and better compete with rivals such as China for national security purposes.

Persons: Gina Raimondo, TSMC, Biden, Raimondo Organizations: Science, Technology, Washington , D.C, Taiwan Semiconductor Manufacturing, U.S, Arizona Locations: Rayburn, Washington ,, Arizona, U.S, Phoenix, China

☆ Nvidia plans to build a $200 million AI center in Indonesia amid push into Southeast Asia
▼ + stars: | 2024-04-05 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California, on Feb. 11, 2015. Nvidia is planning to build a $200 million artificial intelligence center in Indonesia in partnership with local telco giant Indosat Ooredoo Hutchison, as the U.S. tech darling continues its push into Southeast Asia. Indosat did not respond to a request for comment, while Nvidia declined to comment on the matter. Indosat Ooredoo Hutchison is Indonesia's second-largest mobile telco after a 2022 merger between Qatar's Ooredoo and Hong Kong's CK Hutchison. Nvidia's increased presence in Indonesia represents a broader push into Southeast Asia this year as data demand in the region booms on the back of the growing digital economy.

Persons: Ooredoo Hutchison, Budi Arie Setiadi, Indosat, Blackwell, Indosat Ooredoo Hutchison, Kong's CK Hutchison Organizations: Nvidia, Indonesia's, Information Technology, Qatar's, Kong's Locations: Santa Clara , California, Indonesia, U.S, Southeast Asia, Surakarta, Central Java, Nvidia's

☆ Poor resale values of EVs threaten adoption, warn some experts
▼ + stars: | 2024-04-05 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

Jeff Gritchen | Medianews Group | Getty ImagesA car loses value as soon as you drive it off the lot, but electric vehicles are taking this adage to a new level. That's becoming a major barrier to wider adoption, according to some industry and investment experts. While lower used EV prices could increase their desirability to some buyers, they can also reduce demand for new electric vehicles, according to Karl Brauer, executive analyst at iSeeCars. Kuo further argued that the software and computing capabilities of used EVs may become outdated and incompatible with updates by the time they are sold or even beforehand. According to iSeeCars, dramatic drops in used electric vehicle values in the U.S. have largely been driven by aggressive price cuts by Tesla amid a broader price war in the EV market.

Persons: Jeff Gritchen, Karl Brauer, David Kuo, Kuo, EVs, iSeeCars, Tesla Organizations: Medianews, Getty, iSeeCars.com, Smart, Industry, Bloomberg, VW, Toyota Locations: Fountain Valley , California, U.S

☆ Nvidia supplier SK Hynix plans to invest $3.87 billion in U.S. chip facility
▼ + stars: | 2024-04-04 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

SK Hynix logo displayed on a phone screen as seen in this illustration photo taken in Krakow, Poland on January 30, 2023. SK Hynix , one of the world's largest memory chipmakers, said it would invest $3.87 billion in its first chip packaging facility in the U.S., marking another victory for the Biden administration's efforts to onshore chip production. SK Hynix said the facility, slated for operation in 2028, will house a production line for SK Hynix's cutting-edge high-bandwidth memory chips — important components in the Nvidia GPUs used to train AI systems like ChatGPT. "We are excited to become the first in the industry to build a state-of-the-art advanced packaging facility for AI products in the United States," said SK Hynix CEO Kwak Noh-Jung in a statement, adding it would "strengthen supply-chain resilience and develop a local semiconductor ecosystem." The project will also bring more than a thousand new jobs to the region and will include an R&D facility to develop future generations of chips, according to the company.

Persons: Biden, SK Hynix, Noh, Jung Organizations: SK Hynix, Purdue University, Wednesday, Indiana State, U.S, SK, SK Hynix's, Nvidia Locations: Krakow, Poland, U.S, West Lafayette , Indiana, United States

☆ A double dose of hell: The Bataan Death March and what came next
▼ + stars: | 2024-04-03 | by ( Brad Lendon | ) edition.cnn.com time to read: +15 min

The Death MarchThat surrender site in Balanga doesn’t mark the beginning of the Bataan Death March. “It looked like they were really trying to kill us all.”White markers along a highway on the Bataan Peninsula show the route from the 1942 Bataan Death March. A boxcar used during the infamous 1942 Bataan Death March, displayed at the Capas National Shrine in Tarlac Province, north of Manila. All but Meyer also survived the Bataan Death March. A relief depicts the 1942 Bataan Death March on the Death March Memorial in Capas, Philippines.

Persons: Philippines CNN —, Edward P, King, Franklin Roosevelt, Douglas MacArthur, Edward King, “, …, ”, Matoo Nakayama, Masaharu Homma, Camp O'Donnell, AP Survivor James Bollich, ” Bollich, Brad Lendon, Tillman R, Rutledge, O’Donnell, defecated …, –, Manuel Abrazado, Emilio Aquino, Romeo Gacad, MacArthur’s, Robert Overbeck, Calvin Graef, Avery Wilber, Donald Meyer, Anton Cichy, Meyer, Overbeck, They’d, Charles, ” Overbeck, Arisan Organizations: Philippines CNN, Museum, Balanga Elementary, Bataan, Bettmann, US Army, US Navy, Gen, Army, AP Survivor, Air Force News Service, CNN, US Clark Air Base, Kyodo, Heritage Command, US Defense, Agency, Disabled, Getty, Mount, 14th Air Force, former Flying Tigers Locations: Philippines, Philippine, Bataan, American, Corregidor, Bataan As, Harbor, Hawaii, Luzon, Manila, Gen, Marileves, Mariveles, Capas, San Fernando, Tarlac Province, …, O’Donnell, ., Balanga, Tarlac province, AFP, Japan, China, Bashi, Taiwan, South China, Kunming, Asia, Washington, North Africa, Geneva, Arisan Maru

☆ Ray Dalio on why he is still investing in China
▼ + stars: | 2024-04-02 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Ray Dalio, founder of Bridgewater Associates, received an award from the China General Chamber of Commerce-USA in February 2022. Ray Dalio, chief investment officer at Bridgewater Associates, took to LinkedIn on Tuesday to defend his continued investments in China — a market he views as crucial to "understand the world" and for "diversification." In his follow-up, Dalio defended his decision not to abandon the Chinese market "when things get tough," claiming he is neither "a fair-weather friend" nor "a fair-weather investor." "[T]here is no such thing as a bad market; there is only bad decision making. I find the markets in China good for my type of decision making," he added.

Persons: Ray Dalio, Dalio Organizations: Bridgewater Associates, Chamber of Commerce, USA, LinkedIn Locations: China, Beijing

☆ East Asia's growth is faster than the rest of the world but China headwinds weigh, World Bank says
▼ + stars: | 2024-04-01 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

As inflation continues to impact global economies, Asia-Pacific is the only region that will see real salary growth in 2023, according to ECA International. Growth in developing East Asia and Pacific is outpacing the rest of the world, but the region will likely see slower growth in 2024 amid headwinds in China and broader policy uncertainty, according to the World Bank. "It is a region that is still outperforming the rest of the world, but it is underachieving relative to its own potential," Aaditya Mattoo, East Asia and Pacific chief economist at the World Bank, told CNBC's "Street Signs Asia" on Monday. Growth in the region is expected to ease to 4.5% this year, slowing from last year's 5.1% expansion, according to the bank's East Asia and Pacific (EAP) update for 2024, which was released Monday. However, excluding China, growth in the region is predicted to reach 4.6% this year — higher than 4.4% in 2023.

Persons: CNBC's Organizations: ECA International, World Bank Locations: Asia, Pacific, East Asia, headwinds, China

☆ Oklahoma Was a Legal Marijuana Utopia. Then Came the Mass Murder
▼ + stars: | 2024-03-29 | by ( Matt Stroud | ) www.businessinsider.com time to read: +32 min

Fourteen months after the murders, the garage of the abandoned marijuana farm on prairie tableland northwest of Oklahoma City sits frozen and dark. Broadway Avenue in Kingfisher, Oklahoma, about 30 miles south of where Wu Chen, 47, executed four people at a marijuana farm. When Oklahoma legalized medical marijuana, the only real requirement was that Oklahoma residents had to be involved in marijuana growing and selling. But Oklahoma required 75% of any marijuana business to be owned by an Oklahoma resident. Deputies from the Kingfisher County Sheriff's Office were the first to arrive at the scene of a quadruple homicide at an abandoned marijuana farm.

Persons: Wu Chen, Mike Simons, Kevin Stitt, Sean Hannity's, Dan Newhouse, Liu, Chen, Yi Fei Lin, Mark Woodward, —, OBN, Adria Berry, BI Adria Berry, I'm, Barb Miuccio, Jeremy Grable, Jeremy, Barb, she's, Barbara Miuccio, Treez, Matt Stacy, Stacy, Stitt, Jeremy they'd, he'd, OMMA, didn't, Barb didn't, Barbara, Stacy —, she'd, Stacy hadn't, BI Jonathan Riedlinger, Riedlinger, Lin, Qirong Lin, Hechun Chen, Qiang Chen, Fang Lee —, Wenbo Lin, Wu Chen —, Wenbo Lin didn't, Reidlinger, Jed Green, Matthew Alan Stacy, Barb —, — he's, He'd, Woodward, Helen Carillo, He's, Kevin Pham, Pham, BI Pham, ProPublica, recriminations, Green, It's, they're, I'd, Ken Thompson, Thompson, Chen didn't, He'll, Jonathan Riedlinger, Kiki, I've Organizations: Oklahoma City, Broadway, BI, Marijuana, Oklahoma, Oklahoma Medical Marijuana Authority, Republican, Sean Hannity's Fox, Fox News, Chen Inc, Narcotics, BI Adria, Oklahoma's Army National Guard, OBN, Business, Oklahoma State Bureau of, Sheriff's, Prosecutors, CSI Accounting Services, Whitney Economics, NBC, Cannabis, Virginia Slim, Florida . Police Locations: Oklahoma, Kingfisher County , Oklahoma, Ames , Oklahoma, Kingfisher , Oklahoma, Pennsylvania, California, Arkansas, Republican Washington, China, Kingfisher County, Dallas, Moore , Oklahoma, Oklahoma City, Afghanistan, Iraq, Ukraine, He's, Moore, Kingfisher, Hennessey , Oklahoma, OMMA, Mexico, Edmond, Tulsa, Russia, Bulgaria, Armenia, Steakhouse, Virginia, Florida, Miami Beach, Miami

☆ China-made vehicles will comprise a quarter of Europe's EV sales this year, study shows
▼ + stars: | 2024-03-28 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

A BYD Co. Atto 3 electric sport utility vehicle (SUV) on day two of the Geneva International Motor Show in Geneva, Switzerland, on Tuesday, Feb. 27, 2024. China-made electric vehicles will make up more than a quarter of the EV sales in Europe this year, with the country's share increasing by over 5% from a year earlier, according to a new policy analysis. While most EVs sold in the EU are from Western brands such as Tesla, which manufactures and ships EVs from China, Chinese brands alone are set to account for 11% of the region's market in 2024. The findings come as the European Commission probes subsidies given to electric vehicle makers in China to determine if they unfairly undercut local companies. Non-Chinese brands that ship from China, such as Tesla and BMW, could be included in the ongoing subsidy investigation.

Persons: Tu Le Organizations: Geneva, European Federation for Transport, European Commission, BMW, Sino Locations: Geneva, Switzerland, China, Europe, France, Spain

☆ New Zealand accuses China-backed hackers of cyberattacks on parliament
▼ + stars: | 2024-03-26 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

New Zealand has accused China of "malicious cyber activity" linked to Chinese state actors, who targeted its parliament in 2021. The government "expressed concerns today about malicious cyber activity, attributed to groups sponsored by the Chinese Government," New Zealand's Foreign Minister Winston Peters said on Tuesday. New Zealand's intelligence service, the National Cyber Security Centre (NCSC), "completed a robust technical assessment following a compromise of the Parliamentary Counsel Office and the Parliamentary Service in 2021," Collins said. The activity has been attributed to a Chinese state-sponsored group, she added. The Chinese embassy in New Zealand did not immediately respond to a request for comment.

Persons: Winston Peters, " Peters, Judith Collins, Collins Organizations: Government, Zealand's, National Cyber Security, Parliamentary, Office, Parliamentary Service Locations: Zealand, China, U.S, New, New Zealand

☆ China faces ‘fork in the road,’ IMF chief says, urging Beijing to embark on pro-market reforms
▼ + stars: | 2024-03-25 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Kristalina Georgieva, Director of the International Monetary Fund (IMF), speaks during the China Development Forum 2024 at the Diaoyutai State Guesthouse on March 24, 2024 in Beijing, China. China has two choices right now: return to its old economic policies, or choose reforms to spur growth, according to the International Monetary Fund's Managing Director Kristalina Georgieva. "China is poised to face a fork in the road — rely on the policies that have worked in the past, or update its policies for a new era of high-quality growth," Georgieva said Sunday at the China Development Forum in Beijing. "With a comprehensive package of pro-market reforms, China could grow considerably faster than a status quo scenario," she said, according to prepared remarks by the IMF. The measures coincide with other moves Beijing has made in recent weeks to boost confidence among foreign investors and businesses as it pursues a growth target of about 5% this year.

Persons: Kristalina Georgieva, Georgieva, Li Qiang Organizations: International Monetary Fund, International Monetary Fund's, China Development Forum, IMF, World Bank Locations: China, Diaoyutai, Beijing, Bulgarian

☆ Kevin O'Leary wants to buy TikTok at up to 90% discount. Here's why
▼ + stars: | 2024-03-22 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Kevin O'Leary is putting together a syndicate for a potential purchase of TikTok, with a starting bid of $20 billion to $30 billion — an up to 90% cut in valuation from the company's last funding round. Any deal for the short video-sharing platform — valued at $220 billion in 2023, according to PitchBook data — will likely exclude the user preference-based algorithms that have helped make it so successful, the O'Leary Ventures Chairman said on CNBC's "Street Signs Asia." "It's the largest entertainment and business network in America as it stands today, so it's of great interest and great value," he said on Friday. But it is not likely that the Chinese government will sell the algorithms, "so what you're getting is the valuable domestic brand TikTok and 170 million users, with no data," O'Leary said. A potential buyer will have to "re-emulate" those algorithms with U.S. code and act as a "steward" to transform the platform from "TikTok China to TikTok U.S.A." Hence the valuation cut.

Persons: ByteDance, Kevin O'Leary, O'Leary Organizations: U.S . House, O'Leary, TikTok Locations: TikTok, Culver City , California, America, China

☆ Why a small China-made EV has global auto execs and politicians on edge
▼ + stars: | 2024-03-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +12 min

The rise of BYD and other Chinese automakers led Tesla CEO Elon Musk in January to warn that Chinese automakers will "demolish" global rivals without trade barriers. Caresoft, an engineering benchmarking and consulting firm, has already torn down one China-built BYD Seagull and is preparing to do another. Michael Wayland / CNBCThe consulting firm tore apart the BYD Seagull piece by piece to benchmark the small EV against vehicles from other startups and traditional automakers. Its initial study of the BYD Seagull found it to be efficiently and simplistically designed, engineered and executed, but with unexpected quality and anticipated reliability. Growing concernsBYD's rise comes at a precarious time for global auto industry dynamics.

Persons: It's, Terry Woychowski, Warren Buffett, —, BYD, Tesla, Elon Musk, Caresoft Bernstein, Nissan, Michael Wayland, Caresoft, simplistically, Woychowski, Mathew Vachaparampil, CNBC BYD, Stellantis —, Donald Trump, Zach Gibson, Jennifer Granholm, Republican Sen, Marco Rubio, Trump, –, GM Dong, Tang, Marin Gjaja, Gjaja, Ford, you've, Evelyn Cheng, Dylan Butts Organizations: Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, U.S, General Motors, Caresoft, Alliance for American Manufacturing, Overseas, Chevrolet, Nissan Leaf, Bolt, Chicago Federal Reserve, BYD, CNBC, Cox Automotive, Seagull, Tesla, Toyota Motor, Nissan Motor, Honda Motor, Hyundai, Kia, — GM, Ford, Chrysler, U.S ., Washington , D.C, Bloomberg, Republican, North American Free Trade, Republicans, Buick, SAIC, GM, GM Dong Yue Motors Co, Detroit Locations: Shanghai, LIVONIA, Mich, –, China, Europe, Latin America, Detroit, Texas, Germany, Japan, U.S, Livonia , Michigan, America, XPENG, Mexico, Thailand, Brazil, Indonesia, Hungary, Uzbekistan, ., Washington ,, United States, Marco Rubio of Florida, Yantai, Shandong Province

STR | AFP | Getty ImagesIn the race against Tesla for the global electric car market, Chinese automaker BYD is pushing hard overseas despite rising barriers to the U.S. market. Given policy uncertainty around Chinese EV exports to major markets like the U.S. and Europe, BYD is seeking to bolster overseas sales by moving production to regions perceived as more friendly. The U.S. has tried to support adoption of electric cars domestically, but sales penetration is well below that of China. EY predicts the electric car market in the region will grow exponentially to at least $80 billion a year in sales in the next decade. The rapid growth of BYD and other Chinese electric car companies has other automakers worried.

Persons: Tesla, BYD, Xiao Feng, Biden, it's, EY, Alvin Liu, Liu, BYD's, Sime Darby, Stella Li, Reuters BYD, Bill Russo, CNBC's, Li Organizations: AFP, Getty, Toyota, Counterpoint Research, Tesla, Sime, Americas, Reuters, Alliance for American Manufacturing, U.S Locations: Taicang Port, Suzhou, China's, Jiangsu, U.S, Shenzhen, Europe, Thailand, Brazil, Indonesia, Hungary, Uzbekistan, China, Marklines, Southeast Asia, Singapore, Philippines, Malaysia, Mexico, Americas, North America, United States, Canada, Washington

(Photo by Kazuhiro NOGI / AFP) (Photo by KAZUHIRO NOGI/AFP via Getty Images)At Japan's highly anticipated "shunto" spring wage negotiations this year, the world's largest automaker Toyota agreed to the biggest annual pay increase for workers in 25 years. Market speculation reached fever pitch this week as various corporate giants announced robust negotiated salary increments that in some instances exceeded what unions petitioned for. Bank of Japan Governor Kazuo Ueda has repeatedly said the outcome of this year's wage negotiations will influence the central bank's decision on when to exit the world's last negative interest rate policy. Japan's largest trade union grouping, known as Rengo, will announce the first collation of ongoing wage negotiations on Friday. Here's what you need to know about this year's spring wage talks, which takes place annually in March.

Persons: Kazuhiro NOGI, KAZUHIRO NOGI, Kazuo Ueda Organizations: Bank of Japan, The Bank of Japan, Getty, Toyota Locations: Tokyo, AFP

☆ FAA audit of Boeing's 737 Max production reportedly found 'dozens of issues'
▼ + stars: | 2024-03-12 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

An Alaska airlines Boeing 737 is taking off from Los Angeles International AirPort (LAX) in Los Angeles, California, on March 6, 2024. U.S. air safety regulators found "dozens of problems" at facilities owned by Boeing and one of its key suppliers after a six-week audit of the production of the 737 Max jet, according to The New York Times. The Federal Aviation Administration started the probe after a door panel blew off a 737 Max 9 flight on Alaska Airlines in early January, an incident that has attracted intense scrutiny of Boeing's quality-control practices. FAA auditors found that out of 89 product audits that were conducted, Boeing passed 56 tests and failed 33 of them, according to the report. During the six-week audit, the FAA also conducted 13 product audits that focused on Spirit AeroSystems, which makes fuselages for the Boeing 737 Max — of those, only six audits resulting in passing grades, and seven failed, the NYT said.

Persons: Max — Organizations: Boeing, Los Angeles International AirPort, The New York Times, Federal Aviation Administration, Max, Alaska Airlines, Times, FAA Locations: Alaska, Los Angeles , California

☆ Southeast Asia's smartphone market is booming so far this year as China remains sluggish, research says
▼ + stars: | 2024-03-08 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Smartphone shipments in Southeast Asia continued a resurgence at the start of 2024, contrasting to a lull in other regions, as the promising market for mobile makers continues to attract more brands and investment. The top five markets in the region saw 7.26 million smartphone units shipped, marking a significant 20% increase from the same period last year, according to research from technology market analyst firm Canalys published Wednesday. The results continue a market rebound that began in the fourth quarter of 2023 when Southeast Asia phone shipments increased year-over-year for the first quarter in almost two years amid a broader post-pandemic industry recovery. "To capitalize on this market resurgence, smartphone manufacturers, which adopted conservative strategies in the last six months, are now deploying aggressive tactics to gain market dominance," he said in the release, noting trends such as affordable 5G, AI integration, ecosystem development, and channel optimization. Xiaomi, the second largest phone brand by shipments in January for that region, saw year-on-year growth of 128%, while Transsion, a relative newcomer to the market, saw growth of 190%.

Persons: Canalys, Le Xuan Organizations: Samsung Locations: Surakarta, Indonesia, Southeast Asia, Asia

☆ Generative AI is the talk of the town, but businesses are still not ready for it, survey shows
▼ + stars: | 2024-03-06 | by ( Dylan Butts | ) www.cnbc.com time to read: +5 min

"There is a misconception about how easy it is to run mature, enterprise-ready, generative AI," said Stela Solar, Inaugural Director at Australia's National Artificial Intelligence Centre in the survey report. Meanwhile, 56% of the respondents said their IT investment budgets, in general, were a limiting factor in rolling out generative AI. Other barriers to generative AI adoption according to the survey respondents included the lack of relevant generative AI skills. Disruptors versus the disruptedStill, the survey reflected overall positive sentiments about the future role of generative AI in business. While six of 10 respondents expect generative AI to substantially disrupt their industry in the next five years, 78% see it as a competitive opportunity.

Persons: skilling, Chris Levanes, Laurence Liew, Geraldine Kor Organizations: Istock, MIT Technology, Telstra, Artificial Intelligence, South, MIT, Singapore, Telstra International Locations: Australia, South Asia, Singapore

☆ AMD reportedly hits U.S. regulatory roadblock for China-tailored chip
▼ + stars: | 2024-03-05 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

A smartphone with a displayed AMD logo is placed on a computer motherboard in this illustration taken March 6, 2023. The report said AMD designed the chip to have lower performance than its premium products in order to comply with U.S. export restrictions. But Bloomberg reported the Commerce Department did not clear the chip for sale in China because it was still too advanced. AMD will now have to obtain a license from the department's Bureau of Industry and Security, the report said. AMD and the Commerce's Bureau of Industry and Security did not immediately respond to CNBC's requests for comment.

Persons: It's Organizations: Devices, Bloomberg, AMD, Commerce Department, department's Bureau of Industry, Security, Commerce's Bureau of Industry Locations: China, department's, U.S, Beijing

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