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☆ Meituan’s KeeTa joins Hong Kong's food delivery race — but analysts are skeptical
▼ + stars: | 2023-07-04 | by ( Sheila Chiang | ) www.cnbc.com time to read: +6 min

HONG KONG, CHINA - MAY 22: A poster promoting 'KeeTa' is seen on May 22, 2023 in Hong Kong, China. "I'm not very optimistic about Meituan's expansion in Hong Kong," Shawn Yang, managing director of Blue Lotus Research Institute, told CNBC. The food delivery service — named KeeTa — launched on May 22 in two residential areas: Mong Kok and Tai Kok Tsui. Stiff competitionThe penetration rate of food delivery in Hong Kong is not particularly high. The food delivery market in Hong Kong remains lukewarm, even during the pandemic, with moderate growth rates.

Persons: Chen Yongnnuo, Shawn Yang, KeeTa —, Mong Kok, Tai Kok Tsui, KeeTa, Sham, Meituan, Kai Wang, ChinaIRN, doesn't, it's, Wang, Yang, Blue, Ryan Lai, Lai Organizations: China News Service, Getty, Blue Lotus Research Institute, CNBC, Yau, Morningstar, Morningstar Asia, Blue Lotus Research, Blue Lotus, Foodpanda, Hong, HK Locations: HONG KONG, CHINA, Hong Kong, China, Mong, Morningstar Asia, Mong Kok, Hong, Deliveroo, Foodpanda Hong Kong

☆ Regulation and competition key for growth of AI in China and beyond
▼ + stars: | 2023-06-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRegulation and competition key for growth of A.I., says professor at China's Tsinghua UniversityZhang Ya-Qin, Tsinghua University chair professor, founding dean of the Tsinghua Institute for AI Industry Research and ex-Baidu president, spoke to CNBC on the sidelines of the World Economic Forum in Tianjin.

Persons: Zhang Ya Organizations: China's Tsinghua, Qin, Tsinghua University, Tsinghua Institute, AI Industry Research, Baidu, CNBC, Economic Locations: Tianjin

☆ Technology is giving cars more nagging problems than ever
▼ + stars: | 2023-06-23 | by ( Alexa St. John | Tim Levin | ) www.businessinsider.com time to read: +4 min

Auto research firm JD Power assessed dozens of vehicle brands for its latest quality study. The overall quality of new vehicles is deteriorating and nagging problems are on the rise, according to a new study from JD Power. "The basic touch point of door handles is now a percolating problem area as manufacturers attempt to redesign them," JD Power said. JD Power assigned a score to each auto brand based on problems per 100 vehicles, and calculated an industry average of 192 problems per 100 vehicles (PP100), up from 180 in 2022. In terms of vehicles themselves, the Nissan Maxima had the highest initial quality overall, with 106 problems per 100 vehicles, according to teh survey.

Persons: Tesla, Dodge, Frank Hanley, Power, JD Power, Ram, Alfa Romeo, Polestar Organizations: Auto, JD Power, Fiat Chrysler, French PSA Group, Buick, Chevrolet, Volvo, Chrysler, Volkswagen, Nissan, JD, Dodge, Romeo, GMC, Porsche, Kia, Lexus, Maserati, Hyundai, Honda, BMW, Mitsubishi, Toyota, Ford, Benz, Rover, Mazda, Acura, Lincoln

☆ Most liveable cities: The 2023 rankings are in
▼ + stars: | 2023-06-21 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +8 min

The ranking of the world’s most liveable cities for 2023 has just been released by the Economist Intelligence Unit (EIU), and Vienna has come out on top yet again. The world's most liveable cities for 2023: The Economist Intelligence Unit (EIU) Global Liveability Index ranked Osaka, Japan as the 10th most liveable city in the world. Vladislav Zolotov/iStockphoto/Getty Images The world's most liveable cities for 2023 have been revealed (photos) Prev Next“The removal of covid-related restrictions has overall boded well for global liveability in 2023,” Upasana Dutt, Head of Liveability Index at EIU, said in a statement. Stability declineCalgary was one of three Canadian cities to make it into the top 10 on the 2023 list. Damascus, consistently one of the lowest-ranked cities in the survey, has seen no improvement in its liveability scores this year.

Persons: CNN — It’s, Pierre Ogeron, David Hanson, Vladislav Zolotov, ” Upasana Dutt, ”, Barsali Bhattacharyya, “ Organizations: CNN, Economist Intelligence Unit, Denmark’s, Sydney, Melbourne, Japan’s Osaka, Zurich, Geneva, Calgary, Getty, “, London, Industry Research, Algeria’s, Kyiv Locations: “, Austrian, Vienna, Melbourne, Sydney, Canada, Calgary, Vancouver, Toronto, Switzerland, Osaka, Japan, jenifoto, Geneva, Swiss, Zurich, Cavan, Australia, New South Wales, Copenhagen, Denmark, Austria, EIU, Asia, Europe, Stockholm, Edinburgh, Ukraine, Honolulu, Hawaii’s, San Diego, Los Angeles, Algeria’s Algiers, Libya’s Tripoli, Syria’s Damascus, Damascus, Ukrainian, ”, Kiev

☆ A.I. human-voice clones are coming for the Amazon, Apple, Google audiobook
▼ + stars: | 2023-06-17 | by ( Trevor Laurence Jockims | ) www.cnbc.com time to read: +14 min

"For many publishers, audiobook production can be a major investment," said Judy Chang, director of product management for Google Play Books. Even with AI voice, there is nominally a voice actor somewhere in the process. What voice actors sayFor some voice actors, the choice is being made to stay away. Kinsella noted that AI voice played a foundational role in the integration of AI into daily life at an earlier point. But he added, "I've yet to find a client who tells me they've chosen an AI voice over hiring me.

Persons: Ciccarell, Ciccarelli, David Ciccarelli, Alexa, Judy Chang, It's, it's, Bret Kinsella, Brad Ziffer, Michele Cobb, Cobb, Siri, OpenAI's ChatGPT, Kinsella, … Siri, ChatGPT, Ziffer, Andrea Collins, Collins, John Kubin, I've, Kubin Organizations: Google, Apple, Audio Publishers Association, Alexa Locations: U.S

☆ Intel drops as Apple moves to its own silicon on all computers
▼ + stars: | 2023-06-05 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

The M2 Ultra, which will power the new computer, is up to three times faster than the speediest Intel-based Mac Pro. At Apple's Worldwide Developer Conference on Monday, Jennifer Munn, director of engineering program management, called the M2 Ultra "a monster of a chip." Apple launched its initial computer chip, the M1, in 2020. Apple silicon is "a different kind of competition," former Intel executive Gregory Bryant said at a 2021 Evercore conference. The Mac Pro containing the new chip will come with 192 GB of memory, Apple said.

Persons: Jennifer Munn, Gregory Bryant, Apple, Gartner Organizations: Intel, Apple, Pro, Apple's, AMD, Nvidia

☆ Analysis: GM's 2025 EV output could be crimped by battery bottleneck
▼ + stars: | 2023-05-18 | by ( Paul Lienert | ) www.reuters.com time to read: +4 min

"We have not changed our targets," GM spokesman Jim Cain said. Those targets include cumulative EV production of 400,000 from early 2022 through mid-2024, a revised goal that CEO Mary Barra reiterated earlier this year. "We believe GM’s targets are hittable despite hurdles to get there," Wedbush auto analyst Dan Ives said. GM has not issued specific North American EV production targets for 2024 and 2025. GM’s North American EV production targets beyond 2025 “will continue to push the limits” of its battery plants, according to AFS, including a recently announced fourth factory with new partner Samsung SDI (006400.KS) that isn’t expected to open until 2026.

☆ When Barbara Corcoran sold her company for $66 million, she didn't know how much it was worth—here's how she negotiated anyway
▼ + stars: | 2023-05-02 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Nearly three decades later, she flipped it to brokerage firm NRT for $66 million. The large dollar figure wasn't the result of industry research or market valuation, Corcoran said: Rather, it was her "lucky number." Corcoran wanted to sell her company because she'd achieved her goal: The Corcoran Group was the largest brokerage in New York, she said. It's unclear whether Corcoran could have gotten more for her company, given its then-status as New York's top brokerage. The Corcoran Group's primary competitor at the time, Douglas Elliman, sold for $75 million four years prior, The New York Times noted.

☆ Global rice shortage is set to be the largest in 20 years – here's why
▼ + stars: | 2023-04-19 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +6 min

The global rice market is set to log its largest shortfall in two decades in 2023, according to Fitch Solutions. "At the global level, the most evident impact of the global rice deficit has been, and still is, decade-high rice prices," Fitch Solutions' commodities analyst Charles Hart said. That would mar the largest global rice deficit since 2003/2004, when the global rice markets generated a deficit of 18.6 million tonnes, said Hart. "The global rice production deficit situation will increase the cost of importing rice for major rice importers such as Indonesia, Philippines, Malaysia and African countries in 2023," said Tjakra. "It is our view that global rice production will stage a solid rebound in 2023/24, expecting total output to rise by 2.5% year on year," Fitch's report forecast, hinging on India being a "principal engine" of global rice output over the next five years.

☆ New vehicle prices fall below sticker price after nearly two years - Kelley Blue Book
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

April 12 (Reuters) - New vehicles' average transaction price fell below the manufacturer's suggested retail price (MSRP) for the first time in 20 months, according to data published by automotive research company Kelley Blue Book. Vehicle prices turned hot after a pandemic-driven supply chain snag and an increased demand for private cars. The average transaction price of a new vehicle in the U.S. declined 1.1% in March to $48,008 from February's $48,558. However, March prices rose 3.8% compared to a year earlier. Top global automakers, except Toyota Motor Corp (7203.T), reported a rise in first-quarter U.S. sales on improving shipments to dealers as vehicle inventories improve.

☆ New vehicle prices fall below sticker price after nearly two years, Kelley Blue Book data shows
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

April 12 (Reuters) - New vehicles' average transaction price fell below the manufacturer's suggested retail price (MSRP) for the first time in 20 months, according to data published by automotive research company Kelley Blue Book. Vehicle prices turned hot after a pandemic-driven supply chain snag and an increased demand for private cars. The average transaction price of a new vehicle in the U.S. declined 1.1% in March to $48,008 from February's $48,558. Top global automakers, except Toyota Motor Corp (7203.T), reported a rise in first-quarter U.S. sales on improving shipments to dealers as vehicle inventories improve. Reporting by Pratyush Thakur in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Here's where the A.I. jobs are, according to a Stanford study
▼ + stars: | 2023-04-05 | by ( Rohan Goswami | ) www.cnbc.com time to read: +1 min

The data was presented in the Institute's 2023 AI Index Report, which compiled information from across the industry on investment, employment, environmental impact, and ethical ramifications of AI use. California was the top state for AI-related hiring with more than 142,000 positions posted in 2022, according to the report, citing data from Lightcast. California is the birthplace of Microsoft -backed OpenAI, as well as big tech companies with strong AI arms like Google and Meta . But in Washington, D.C., for example, nearly 3% of job postings were in AI, nearly double the national average. The report noted that academic collaboration in AI research was dwarfed by private industry research.

☆ What crisis? U.S. bank-focused ETFs see strongest demand in months in March
▼ + stars: | 2023-03-31 | by ( Lisa Pauline Mattackal | ) www.reuters.com time to read: +2 min

Exchange-traded funds tracking U.S. regional banks saw their strongest net inflows in months, with the SPDR S&P Regional Banking ETF receiving $1.25 billion in the month to March 29, while the iShares U.S. Regional Banks ETF (IAT.P) took in $258 million, according to Refinitiv Lipper data. March was the first month of net buying for the IAT fund in a year, and one of the best months on record in terms of flows for KRE. US Bank ETFs in 2023A swift response from regulators and central banks encouraged investors looking to "buy at the bottom," Islam said. "As markets continue to settle down ... banks generally and major banks especially will outperform the S&P 500."

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☆ Microsoft introduces an A.I. chatbot for cybersecurity experts
▼ + stars: | 2023-03-28 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Microsoft on Tuesday announced a chatbot designed to help cybersecurity professionals understand critical issues and find ways to fix them. The Microsoft Security Copilot draws on GPT-4, the latest large language model from OpenAI — in which Microsoft has invested billions — and a security-specific model Microsoft built using daily activity data it gathers. Microsoft isn't talking about how much Security Copilot will cost when it becomes more widely available. The service will work with Microsoft security products such as Sentinel for tracking threats. Security Copilot will be available to a small set of Microsoft clients in a private preview before wider release at a later date.

☆ Amazon, other retailers revamp 'free' shipping as costs soar
▼ + stars: | 2023-03-24 | by ( Lisa Baertlein | ) www.reuters.com time to read: +6 min

REUTERS/Alyssa PointerLOS ANGELES, March 24 (Reuters) - There is no such thing as free shipping. "The days of free delivery are numbered," Ken Morris, managing partner at Cambridge Retail Advisors, said of the fast-changing retail marketing tool. It is an open secret that most retailers raise product prices to subsidize free shipping. Postal Service hitting record levels, the industry where nearly three-quarters of e-commerce companies offer some sort of free shipping is rethinking the financial cost of habituating shoppers to free shipping. While retailers like Amazon and fashion purveyor Asos Plc (ASOS.L) have raised thresholds for fast shipping, others are dropping free shipping altogether or taking product prices up again.

☆ Australia could reap $11.3 bln from battery sector by 2030 - Accenture
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

Australia's battery industry is poised to become a global leader given the country's mineral wealth, but the federal government needs to offer substantial industry incentives to shore up the sector given emerging global competition, according to the Charging Ahead report. Batteries could create local 61,400 jobs by 2030, said the report backed by government and battery industry research group Future Battery Industries, which will be launched by Industry and Science Minister Ed Husic in Canberra on Wednesday. Australia accounts for nearly half of the world's lithium supply, is the world's second biggest cobalt exporter and is a major supplier of rare earths. The report said Australia should reposition its export focus for batteries and battery material supply to countries seeking to diversify supply chains in a battery industry currently dominated by China. Australia should also pursue partnerships with geopolitical allies in order to capitalise on the opportunities at hand, the report added.

☆ Resumes including 'they/them' pronouns are more likely to be overlooked, new report finds
▼ + stars: | 2023-03-02 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

But unfortunately, nonbinary job seekers are facing clear biases during their job search. The only difference between the test and control resumes was the presence of gender pronouns on the test version," McGonagill said in the report. "The test resume included "they/them" pronouns under the name in the header." The phantom resume including pronouns received 8% less interest than the one without, and fewer interview and phone screening invitations. According to the report, over 64% of the companies that received these resumes were Equal Opportunity Employers, something that made the results even more "worrisome."

☆ Food Stamps Are About to Spoil Grocery Stores’ Outlook
▼ + stars: | 2023-02-20 | by ( Jinjoo Lee | ) www.wsj.com time to read: +1 min

Enriched pandemic-era food stamps made a big mark on supermarket sales in the past three years. Those extra benefits are soon coming to an end, possibly spoiling supermarkets’ outlook for the year. The federal government started beefing up households’ food budgets starting March 2020 to address food insecurity during the Covid-19 pandemic. Those boosts made food stamps an important component of food sales. In 2022, SNAP benefits (including the emergency allotments) made up 12.3% of total at-home U.S. food and beverage retail sales, up from 7.1% in 2019, according to HSA Consulting.

☆ Exclusive: Discover to enable tracking of purchases at gun retailers from April
▼ + stars: | 2023-02-17 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

Proponents of the move, including gun control activists and Democratic politicians, say it will allow financial institutions to better assist authorities in investigating crimes involving gun violence in the United States. Discover said it will include the new code in its next policy and product update to merchants and payment partners, in April. A Visa representative declined to comment on its schedule for the new code. "The decision to use the new merchant category code is eventually left up to the users in the industry," the ISO representative said. Industry leader Visa had a 61% share, Mastercard 26% and American Express 11%.

"The amount of energy BEVs need is so enormous that I see a strain on our grid that ultimately it can't fulfill." Daimler Truck will invest up to 15 billion euros ($16 billion) on fuel cells over the next decade, Daum said. Symbio, which supplies fuel cells for Stellantis vans, expects global fuel cell vehicle sales to reach 2 million units annually by 2030 and wants a 10% share. Both General Motors (GM) (GM.N) and Toyota (7203.T) are testing fuel cells for larger vehicles including semi-trucks and trains to build scale and lower costs. While Volkswagen is not currently investing in fuel cells, it has hundreds of patents around the technology.

☆ Premarket stocks: Share buybacks could beat last year's record $1.2 trillion
▼ + stars: | 2023-02-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Companies have announced about $175 billion worth of planned stock buybacks so far this year. This year will likely be the first with at least $1 trillion in completed S&P 500 company buybacks, said Howard Silverblatt at S&P Dow Jones Indices. ▸ GM (GM) just inked an exclusive deal for the hottest product in automaking: Semiconductors. The strong dollar is hurting multinationalsThe rip-roaring dollar cut deeply into the earnings of multinational companies selling their wares overseas last quarter. “We got hit with that.”McDonald’s (MCD) and 3M (MMM) also said in earnings reports that they were worried that the strong dollar would affect future sales.

☆ Biden's stock buyback tax isn't working. In State of the Union, he's asking Congress for more
▼ + stars: | 2023-02-07 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +14 min

In September 2021, Sen. Sherrod Brown (D-Ohio) and Sen. Ron Wyden (D-Oregon) proposed that stock buybacks should be taxed at 2%. Lazonick, who thought any minor buyback tax would be ineffective, says he has been proven correct. If a higher buyback tax is enacted, he is betting it will not have the outcomes that Democrats envision. While it's hard to see a higher tax getting passed in the current Congress, it does make sense for Biden to state his desire for 4%. Changing a buyback tax, though, might first prove harder.

☆ Auto insurance is up by more than 15% this year in some states. Here's how to keep your premium down
▼ + stars: | 2023-02-07 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +4 min

Miniseries | E+ | Getty ImagesAs with many line items in your household budget, your auto insurance probably costs more this year than in 2022. While auto insurance tends to eat up a small share of a person's income — about 3% for the average person, according to the Bankrate study — you may be able to reduce it even further. "If you're working from home now, I'd definitely let your insurance company know you're not commuting to work," said Brian Moody, executive editor of Kelley Blue Book. If you were to increase your deductible to $500 from $250, it could reduce your coverage cost by 15% to 30%, Friedlander said. "Auto insurance is extremely competitive and companies want your business to grow their market share," Friedlander said.

☆ Amazon's cloud business reports 20% growth in fourth quarter, missing estimates
▼ + stars: | 2023-02-02 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Amazon Web Services leads the cloud infrastructure market, with almost 39% share in 2021, according to estimates from industry researcher Gartner. Revenue growth at AWS has generally decelerated since 2015 as the segment has become larger and competition has picked up. In the fourth quarter, AWS generated $21.4 billion in revenue, representing 14% of Amazon's total revenue. Also in the quarter, AWS announced the availability of data center regions in Spain and Switzerland. WATCH: Amazon Web Services revenue growth will slow down more in 2023, says Satori Fund's Niles

☆ Qualcomm revenue falls 12%, guidance implies more pain this quarter
▼ + stars: | 2023-02-02 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Here's how the company did:Earnings: $2.37 per share, adjusted, vs. $2.34 per share as expected by analysts, according to Refinitiv. $2.37 per share, adjusted, vs. $2.34 per share as expected by analysts, according to Refinitiv. Revenue: $9.46 billion, vs. $9.60 billion as expected by analysts, according to Refinitiv. Qualcomm's overall revenue decreased 12% year over year in the quarter, which ended Dec. 25, according to a statement. In the quarter Qualcomm and Renault Group announced an extension of their collaboration and said Qualcomm would invest in Ampere, the automaker's electric and software company.

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