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☆ The big mistake that can leave you ‘highly disappointed’ with your vacation, says travel agent for billionaires
▼ + stars: | 2024-08-23 | by ( Jennifer Liu | ) www.cnbc.com time to read: +3 min

"I think people need to stop following trends, and they need to follow their heart more," India tells CNBC Make It. People of more typical means should avoid falling into the "celebritization of travel," India adds. Instead, India recommends choosing travel spots based on your own passions and what you want to learn more about. Think about what you're reading, watching, listening to and talking about to guide your travel decisions. Where is a place that you can go, try the massages daily, or really go deeper into the culture?"

Persons: Jaclyn Sienna India, Sienna Charles, Beyonce, Jeff Bezos Organizations: Wall Street titans, Hollywood, CNBC, Aspen, Netflix Locations: India, Europe, Egypt, France, Italy, South America, Africa, Southeast Asia

☆ I studied in North Korea for a month. The isolation shocked me the most.
▼ + stars: | 2024-08-19 | by ( Paige Bruton | ) www.businessinsider.com time to read: +8 min

It's been over a decade since I sat in the water of a Pyongyang public bathhouse, fielding questions from several North Korean university students. Kumsusan Palace of the Sun, where the bodies of Kim Il Sung and Kim Jong Il are preserved for viewers to see inside. The show is the world's largest gymnastics display and one of the most important events in the North Korean calendar. What looked like tens of thousands of North Korean children and adults played music, gave traditional dance performances, and conducted intricate gymnastics routines. During my exchange, I spoke to young North Korean people, asking them about their ambitions.

Persons: —, Todor Merdjanov, Kim Il, Merdjanov, It's, Kim Il Sung, Kim Jong Il, Kim Jong, we'd, chatted Organizations: Service, University, Bulgarian, Business, North Korean, Korean Studies, North, Sun, Mass Locations: Bulgarian, Pyongyang, North Korea, Seoul, South Korea, North, Sofia, Bulgaria, Beijing, North Korean, East Asia, Kumsusan, Wonsan, Korean

☆ Chinese companies are already investing in the U.S., ahead of any Trump tariffs
▼ + stars: | 2024-08-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Rising U.S.-China tensions have sent Chinese companies the signal that regardless of who wins the White House, overseas investment is the way to go. Chinese companies' interest in expanding overseas has accelerated since the pandemic as growth slowed domestically. "Top sectors that received Chinese investment have shifted from tertiary to manufacturing industries," the report said. "Interestingly, while Chinese companies have become more active in expanding business in ASEAN countries, they tend to maintain their presence in the West, suggesting the 'ASEAN+1' strategy may have increased." Even in the U.S, where new investment from China has fallen sharply, the report said that "Chinese companies have not materially withdrawn from the US market either."

Persons: Kamala Harris, Donald Trump, Trump, Marko Papic, Yotrio, Hanbell, Harris, it's, Tim Walz, —, Michael Bloom Organizations: House, Republican, BCA Research, NBC, BCA, U.S ., U.S, Vital, Shandong Yuma Sunshade, ., Xinquan America Holdings, Industrial, Trump, Democratic National Convention, NBC News . Studies of, Chamber of Commerce, Electric, European Union, China Council, Promotion of International Trade, Oxford Economics, ASEAN Locations: U.S, China, Beijing, America, Japan, U.S . Shenzhen, Austin , Texas, Shandong Yuma, Yuma Texas, Shanghai, Singapore, Texas, Chino , California, Georgia, Taiwan, Shenzhen, Hong, Europe, Southeast Asia, ASEAN

☆ Thai Court Ejects Prime Minister From Office, as Old Guard Reasserts Power
▼ + stars: | 2024-08-14 | by ( Sui-Lee Wee | ) www.nytimes.com time to read: +1 min

Thailand’s Constitutional Court dismissed Prime Minister Srettha Thavisin from office on Wednesday, throwing the country into fresh turmoil and creating deeper uncertainty about the political future of Southeast Asia’s second-largest economy. In a 5-4 verdict, the court ruled that Mr. Srettha, who took office almost a year ago, violated moral and ethical standards set out in the constitution because he appointed an ally of his benefactor, Thaksin Shinawatra, to his cabinet. Mr. Srettha was seen as a figurehead prime minister, with Mr. Thaksin playing a powerful behind-the-scenes role. Wednesday’s ruling served as a warning to the ambitions of Mr. Thaksin, himself a former prime minister and long a foil to Thailand’s royalist-military establishment. Last week, the same court ordered the disbandment of the Move Forward Party, a progressive party that won last year’s election but was blocked from forming a government.

Persons: Srettha Thavisin, Srettha, Thaksin Shinawatra, Thaksin, Wednesday’s Organizations: Thailand’s Constitutional, Party Locations: Thailand’s

☆ The Writing Is on the Wall for Thailand’s Royalist Old Guard - The New York Times
▼ + stars: | 2024-08-14 | by ( Pavin Chachavalpongpun | ) www.nytimes.com time to read: +1 min

On the surface, Thailand appears to be stuck in a never-ending cycle. Elections are held in which voters voice increasingly clear demands for change, only for those to be denied by the royalist old guard that has dominated my country for generations. Each of the past several elections, going back to 2005, have resulted in the winning party either being denied its right to form a government, overthrown in a military coup or otherwise removed from office. So when Thailand’s Constitutional Court last week ordered the dissolution of the country’s most popular political party — the pro-reform Move Forward Party, which won last year’s national election on a platform of curbing royal prerogatives — it seemed like déjà vu, the latest chapter in a normalized process of political stagnation. The court decision is not a sign of the strength of the conservative establishment, but of its weakness; a last-gasp attempt by the old guard to cling to an outdated status quo despite demands for change by millions of politically literate young Thais.

Persons: —, Thais Organizations: Party Locations: Thailand, Southeast Asia

☆ Podcast: Japan's quest for the most powerful microchip leads semiconductor revival
▼ + stars: | 2024-08-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +25 min

At the end of [the] 1980s, Japanese companies accounted for like 51% of the global semiconductor market. So by doing this ... one thing undercut Japanese semiconductor chip makers' competitiveness in the global market. Another thing [is] that [it] forced open [the] Japanese semiconductor market to foreign players, and this creates opportunity for the U.S., South Korea and Taiwan. And Japanese companies are trying to both develop their own capacity but also attract phone companies to establish fabs there. So by collaborating with international companies, Japanese companies can leverage their existing technology and manufacturing techniques to expand their global share as well.

Persons: Tom Chitty, Fei Xue, Tom Chitty Well, Arjun, Kharpal Fei, Reagan, Arjun Kharpal, Fei, it's, TSMC, Fei Xue Yes, Rapidus, Arjun Kharpal Fei, they're, there's, ASML, you've, He'd, Tom Chitty Fei, Arjun Arjun Kharpal, Tom, Tom Chitty We'll Organizations: TSMC, Rapidus Corporation, Samsung, Economist Intelligence Unit, Economist Intelligence, The Economist, Economist, East, International Relations, U.S, U.S ., Taiwan Semiconductor Manufacturing, IBM, Apple, EV, Japan, Nvidia, Micron, Sony, Nintendo, Canon, South, Samsung Electronics, Tokyo, Screen Holdings Locations: Japan, Taiwan, U.S, Netherlands, Tokyo, beyondthevalley@cnbc.com, East Asia, Fei Xue Japan, South Korea, Japan's, Kyushu, Kumamoto Prefecture, TSMC, That's, China, Kumamoto

☆ New study finds invasive Jorō spiders ‘keep cool under pressure’
▼ + stars: | 2024-08-12 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +9 min

… It seems like even though their heart rate does accelerate, it’s much more even (than the other spider’s heart rates),” he added. To test the spiders’ heart rates, Davis and study coauthor Christina Vu, who was a University of Georgia undergraduate student of entomology at the time, wrangled 79 spiders from two different genera. The Jorō spiders (top left) had to be carefully restrained using pins in order to measure the arachnids' heart rates. They compared the spiders’ resting heart rates to their heart rates during restraint and found all the spiders’ heart rates increased, but the Argiope spiders, which are known to avoid urban settings, had many more spikes as they struggled to run away, according to the research. … To observe spider heart rates, they must be restrained in the first place, which causes a heart rate elevation,” he said.

Persons: I’ve, ’ ”, Andy Davis, panicking, Davis, Christina Vu, —, ” Vu, Jorōs, “, ”, Floyd Shockley, ” Shockley, Jay Stafstrom, ” Stafstrom, they’re Organizations: CNN —, University of Georgia, University of Georgia’s Odum, of Ecology, University, Georgia, Smithsonian National Museum of, Cornell University Locations: United States, Asia, Georgia, West Virginia , Tennessee, Maryland, Canada, arachnophobes, Washington , DC, Ithaca , New York

☆ Japan and Middle East investors interest in Southeast Asia
▼ + stars: | 2024-08-12 | 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 EmailThere's significant interest from Japan and Middle East investors in Southeast Asia: Bank of AmericaJohn Lin from Bank of America talks about M&A activities in Southeast Asia.

Persons: Bank of America John Lin Organizations: Bank of America Locations: Japan, Middle East, Southeast Asia

☆ There's an abundance of capital from Middle East and investors are eyeing Southeast Asia, BofA says
▼ + stars: | 2024-08-12 | 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 EmailThere's an abundance of capital from Middle East and investors are eyeing Southeast Asia, BofA saysJohn Lin, head of mergers and acquisitions for Southeast Asia at Bank of America, discusses the sectors attracting interest.

Persons: BofA, John Lin Organizations: Southeast Asia, Bank of America Locations: Middle East, Southeast Asia

☆ These cities will be too hot for the Olympics by 2050
▼ + stars: | 2024-08-11 | by ( Lou Robinson | Angela Dewan | ) edition.cnn.com time to read: +8 min

The only certainty about Summer Olympics weather is that there’s really no certainty at all. In other words, holding the Summer Games in these cities would be a huge health risk for the athletes. The Games held in 1996 in Atlanta simply wouldn’t be possible in 2050. They may not againSome of the cities that have already hosted the Summer Games will be way beyond safe temperatures by 2050. Beijing, which hosted in 2008, would be much too hot and humid, with heat stress forecast to soar past 90 degrees.

Persons: CarbonPlan, Spain’s, Oriana Chegwidden, ”, It’s, —, exertional, Yuri Hosokawa, Exertional heatstroke, they’re, ” Hosokawa, Hosokawa, “ Organizations: CNN, Olympics, Brisbane, Doha, Southern, Waseda University Locations: CarbonPlan, Gulf of Mexico, Florida, Texas, Atlanta, China, Beijing, Shanghai, Hong Kong, Southeast Asia, Sydney, di Janeiro, Europe —, London, Oslo, Stockholm, Palermo, Sicily, Spain’s Seville, Los Angeles, Australian, Queensland, Brisbane, India, Ahmedabad, Indonesia, Nusantara, Qatar, Turkey, Istanbul, Poland, Chile, Warsaw, Santiago, Doha, Athens, Rome, Tokyo, Seoul, Barcelona, Australia, Rio de Janeiro, Sapporo, Japan

☆ China’s Great Wall of Villages
▼ + stars: | 2024-08-10 | by ( Muyi Xiao | Agnes Chang | ) www.nytimes.com time to read: +14 min

China’s Great Wall of Villages China has moved thousands of people to new settlements on its frontiers. Mr. Akester and Mr. Barnett, who have studied Tibet’s border villages for years, reviewed The Times’s findings. In neighboring Xinjiang and Yunnan, The Times identified six new and 59 expanded border villages. (China says there are hundreds of villages like them, but few details are available and many appear to be mere upgrades of existing villages.) A Times investigation found 12 villages in disputed areas Disputed areas Villages in disputed areas Other villages CHINA CHINA TIBET Arunachal Pradesh Controlled by India Claimed by China BHUTAN INDIA MYANMAR 50 miles CHINA CHINA TIBET Arunachal Pradesh Controlled by India Claimed by China BHUTAN MYANMAR INDIA 75 miles Source: RAIC Labs and The Times analysis of Planet Labs satellite imageryChina makes clear that the villages are there for security.

Persons: ”, Xi Jinping, Bhutan Gyalaphug, Tian Shan Wang, Matthew Akester, Robert Barnett, Akester, Barnett, India Demchok, ” Mr, Xi’s, Brahma Chellaney, Mr, Chellaney, Liu Pengyu, Brian Hart, India Migyitun, Jing Qian, Tenzin, “ Organizations: Daily, New York Times, RAIC Labs, Planet Labs, The Times, SOAS University of London, India, China United Front News Network, Times, ”, Embassy, Local, Planet Labs India, China Power, Center for Strategic, International Studies, Maxar, Center for, Asia Society, Communist Party, Human Rights Watch Locations: China, India, Beijing, Arunachal Pradesh, Tibet, Bhutan, Nepal, Central Asia, Southeast Asia, Tajikistan Fumin, Aimin, Vietnam, Luozha county, Shannan, Tibet Autonomous, Fumin, Xinjiang, Yunnan, China’s, CHINA CHINA TIBET Arunachal Pradesh, China BHUTAN INDIA MYANMAR, China BHUTAN MYANMAR INDIA, New Delhi, South China, Washington, ” India, Ladakh, Times, ”, Center for China, Central Asians, Dokha

In the 1980s, the U.S. military was in the middle of a transformation. Mr. Walz, now Minnesota governor and the presumptive Democratic candidate for vice president, raised his hand to join the Army National Guard just two days past his 17th birthday on April 8, 1981. Mr. Walz never went to war. And it ended when Mr. Walz was 41, as the military ramped up for war after Sept. 11. Since being picked as Vice President Kamala Harris’s running mate this week, he has found himself facing allegations previously aired by Minnesota Republicans and newly amplified by JD Vance, former President Donald J. Trump’s running mate.

Persons: Tim Walz, . Walz, Walz, Kamala Harris’s, JD Vance, Donald J Organizations: U.S, Democratic, Army National Guard, Army, Minnesota Republicans Locations: Vietnam, Southeast Asia, Nebraska, Minnesota, America

☆ 21-year-old left the U.S. for Australia on a working holiday visa—why she says her life is better now
▼ + stars: | 2024-08-10 | by ( Celia Fernandez | ) www.cnbc.com time to read: +7 min

Bella Robben has been living in Australia for almost a year. Bella RobbenRobben's original plan was to visit Australia for just one week, but right before the trip she decided to apply for the country's working holiday visa. Bella RobbenIn Australia, Robben says she is able to earn enough to have a life and to save. Now, approaching one year in Australia, Robben says she isn't the same person she was when she first arrived in the country. Bella Robben

Persons: Bella Robben, Robben, Louis, I've, Bella Robben Robben, Port Douglas, that's, it's, she's, I'm Organizations: CNBC, Tourism Board, Student Locations: Australia, St, Louis , Missouri, Peru, Colombia, Europe, Barcelona, London, Lisbon, Melbourne, U.S, Australia's Northern Territory, Robben, Port, Australian, Queensland, Far North Queensland, America, Southeast Asia

This is particularly true for Black Latinos, according to the authors. That’s why Lopez argues in the report that asking people about their “street race” could provide necessary insight into the different ways Latinos are racially categorized. According to the Pew Research Center, Black Latinos are more likely than non-Black Latinos to report having experienced discrimination based on race. Lopez and the co-authors of the report say that additional questions could still be added to official forms, including the “street race” question. “But we also need a question on perceived race.”For more from NBC Latino, sign up for our weekly newsletter.

Persons: Nancy Lopez, Lopez, ” Lopez, ” Organizations: Latino, Politics Institute, UCLA, . Census, University of New, NBC News, Pew Research Center, U.S . Office, Management, OMB, NBC Locations: University of New Mexico, East

Although their population is small compared to other states, Latinos in Minnesota said Tim Walz, Vice President Kamala Harris' pick for running mate, has not overlooked them as governor. About 38% of Minnesota Latinos who voted in 2020 backed Donald Trump, according to NBC News’ exit poll. And state residents without legal status can enroll in Minnesota Care this November and begin getting those health benefits in 2025, she said. Peréz-Vega said she worked with Walz to help get that cap extended to those without legal immigration status who pay federal taxes. He has been a present governor for many Latinos,” Gonzalez said.

Persons: Tim Walz, Kamala Harris, Walz’s, Paul, Donald Trump, Emilia Gonzalez Avalos, Biden, Walz, Gonzalez, ” Gonzalez, don’t, María Isa Peréz, Vega, ”, John Pacheco, Carlos Odio, Odio, Trump, J.D, Vance, Pacheco, ” Pacheco, he's, Rick Aguilar, “, Aguilar, UnidosMN Organizations: Democratic, Midwest, Minnesota, NBC, Unidos, Hub, Minnesota Office, Higher Education, Democrat, Mankato ., Chamber, Commerce of, Equis Research, Hispanic Republican, of, Walmart, Independence, Mercado Central Locations: Minnesota, St, Arizona, Nevada, Pennsylvania, Georgia, Puerto Rico, El Salvador, Guatemala, Ecuador, Colombia, Venezuela, Puerto Rican, Mankato, Mankato . Mankato, U.S, Commerce of Minnesota, of Minnesota, Minneapolis

☆ Consumer giants from Starbucks to General Mills have one big sales problem: China
▼ + stars: | 2024-08-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — A theme emerging in the latest slew of U.S. companies' earnings reports is a drag from the China market. "Consumer sentiment in China is quite weak," McDonald's chairman, CEO and director Christopher Kempczinski, said of the quarter ended June 30. Apple said Greater China sales fell by 6.5% year-on-year in the quarter ended June 29. Procter and Gamble said China sales for the quarter ending late June fell by 9%. The only public disclosures regarding Peet's China business described it as "strong double-digit organic sales growth" in the first half of the year.

Persons: —, Christopher Kempczinski, McDonald's, Lei Meng, Apple, Johnson, that's, General Mills, Kofi Bruce, Mills, Andre Schulten, Procter, Gamble, Schulten, Marriott's, Domino's, DPC Dash, There's, James Quincey, Quincey, We've, Laxman Narasimhan, Luckin Organizations: Nurphoto, Getty, BEIJING, U.S, Nationwide, UBS Securities, General, Procter, Marriott, Asia Pacific, Starbucks Locations: Yichang, Hubei province, China, U.S, Canada, Greater China, Southeast Asia, Japan, South Korea, Asia, Peet's

☆ An Indian billionaire has an audacious plan to take down part of China's economic masterplan
▼ + stars: | 2024-08-06 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +1 min

Indian billionaire Karan Adani announced plans to challenge Chinese dominance in global seaports. Adani Ports has received "in-principle" approval for a $2 billion project in Da Nang, Vietnam. Adani Group has plans for ports in the Middle East, Africa, and Southeast Asia, Bloomberg said. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy .

Persons: Karan Adani, —, Karan Organizations: Ports, Adani, Bloomberg, Service, Business Locations: Da Nang, Vietnam, East, Africa, Southeast Asia, India

☆ China's city dwellers will soon have more pets than toddlers, and there's one way investors can cash in on the trend, Goldman Sachs says
▼ + stars: | 2024-08-05 | by ( Kwan Wei Kevin Tan | Aditi Bharade | ) www.businessinsider.com time to read: +6 min

Read previewChina's baby bust could see its urban pet population outnumbering the number of toddlers by 2030, investment bank Goldman Sachs wrote in a July 28 report. According to Goldman Sachs' forecasts, China will have more than 70 million urban pets by 2030. AdvertisementThe rise in pet ownership, the bank said, could help push China's pet food market to $12 billion by 2030. People having more pets than babies shouldn't be surprising considering how China is presently grappling with a demographic crisis. China's population shrank again in 2023, with the number of deaths exceeding the number of births by 2.08 million people.

Persons: —, Goldman Sachs, Lin Zhang, Zhang, Zheng Mu, Zheng, Cash, haven't, Bihan Chen, Emily Huang, Huang, Ann, Hunter van Kirk Organizations: Service, Business, country's National Bureau of Statistics, University of New, Zhang, National University of Singapore, National Association of Realtors, NAR, Bloomberg Intelligence Locations: China, country's, University of New Hampshire, Europe, East Asia

☆ Scientists digitally dissect ancient Egyptian ‘screaming’ mummy
▼ + stars: | 2024-08-03 | by ( Katie Hunt | ) edition.cnn.com time to read: +6 min

CNN —Ancient Egypt’s pyramids, pharaohs and artifacts delight the imagination, reigniting wonder of the distant past in every generation. Experts are also using the latest techniques to spill secrets hidden within discoveries made decades ago, with new research this week “digitally dissecting” an unusual mummy found in 1935. The "screaming woman" whose mummified remains were discovered in 1935 may have died violently, a new study suggests. — To keep swimmers and beachgoers safe, scientists are using artificial intelligence to detect juvenile sharks, which like to hang out near the shore. They find wonder in planets beyond our solar system and discoveries from the ancient world.

Persons: Sahar Saleem, Saleem, Saleem couldn’t, Venus, Guillermo Legaria, Lonely Guy, —, Ashley Strickland, Katie Hunt Organizations: CNN, Metropolitan Museum of Art, Kasr Al, Cairo University, Mercury, European Space Agency, Japan Aerospace Exploration Agency, NASA, JPL, Caltech Venus, Lonely, —, CNN Space, Science Locations: ., Damietta, Egypt, Luxor, New York City, Kasr Al Ainy, Europe, Asia, Thailand, Southeast Asia

☆ 2 renowned strategists say the US should defend Taiwan with nuclear strikes. Experts say such talk is just a taste of what's to come.
▼ + stars: | 2024-08-02 | by ( Matthew Loh | ) www.businessinsider.com time to read: +13 min

The US once floated nuclear retaliation in 1958 if China invaded Taiwan, and stationed nuclear weapons on the island until 1974. It would essentially tell Beijing that an invasion of the island risks nuclear war, he said. "What's the benefit of reassuring Xi that our nuclear weapons are not relevant?" "So relatively low-yield nuclear weapons could destroy that amphibious force and do little to no collateral damage onshore in Taiwan." He added that threatening war — much less nuclear war — over Taiwan would be deeply unpopular at home.

Persons: —, David Kearn, Kearn, — he'd, Greg Weaver, Weaver, Obama, Matthew Kroenig, James Acton, Greg, Matt, Kroenig, Lyle Goldstein, Goldstein, we're, Acton, Francesca Giovannini, Giovannini, Xi Jinping, Xi, It's, Marshall Billingslea, Billingslea, Rebeccah Heinrichs, Jake Werner Organizations: Service, John's, Atlantic Council, Pentagon, Business, RAND, US Defense, Joint Chiefs of Staff, Defense Department, Nuclear, Carnegie Endowment, International, China Initiative, Brown University, International Peace, Harvard University's Kennedy, Georgetown University, US State Department, Hudson, Keystone Defense Initiative, Kroenig, East Asia, Quincy Institute, Responsible, Johns University Locations: St, Taiwan, China, Beijing, Washington, Korea, Japan, Taiwan Strait, Washington , DC, Guam, South China, Russia, United States, Bejing, South Korea

☆ I spent 18 months and $34,000 traveling the world, and felt more lost than ever—4 lessons I learned about happiness
▼ + stars: | 2024-08-02 | by ( Helen Zhao | ) www.cnbc.com time to read: +5 min

I had quit my dream job as a video journalist to heal my burnout and find happiness beyond traditional measures of success and prestige. Happiness is not about extremes, but balanceFor years, I thought working my dream job would bring me the ultimate happiness. I realized that I won't find lasting happiness unless I'm living a life balanced between adventure, rest, productivity, and learning. I realized that I won't find lasting happiness unless I'm living a life balanced between adventure, rest, productivity, and learning. I was jealous — my life felt lame in comparison to the epic, picture-perfect lives they seemed to lead.

Persons: I'd, Helen Zhao, doesn't Locations: Los Angeles, South America, Asia, Indonesia, Vietnam, Patagonia, Los Angeles and New York City, Southeast Asia, LA, Bali

☆ Tesla's biggest competitor just announced a collab with Uber
▼ + stars: | 2024-08-01 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTesla's biggest competitor, BYD, just launched a big partnership with Uber. AdvertisementThe partnership also ups BYD's international visibility, as Uber passengers ride in cars they might not have otherwise tried out. AdvertisementThe Uber partnership may also mitigate a European Union tariff on Chinese EV makers. In late June, Volkswagen said it would invest up to $5 billion in US EV maker Rivian, which would develop software for both companies' cars.

Persons: —, Uber, Matt Bryson, Bryson, giant's, Dara Khosrowshahi, BYD, Tesla, Tesla's robotaxis Organizations: Service, Business, Xchange Leasing, Lion City Rentals, Tesla, Western, Uber, Volkswagen, Rivian Locations: Europe, America, East, Canada, Australia, New Zealand, Singapore, Russia

☆ ‘I’m really desperate now’: Temu sellers revolt against fines and withheld pay
▼ + stars: | 2024-08-01 | by ( Juliana Liu | ) edition.cnn.com time to read: +6 min

Hundreds of them staged a demonstration this week at an office affiliated with Temu in the southern Chinese city of Guangzhou. They were protesting what they called “unjust” fines levied by the company or withheld payment on goods already sold, among other complaints. Temu operates as an online store, carrying cut-price merchandise from self-employed sellers. Four sellers interviewed by CNN said the fines ranged from one to five times the wholesale price of the product. CNN has seen screenshots of the seller’s Temu account showing a total of just under two million yuan was ineligible for withdrawal.

Persons: Temu, “ I’m, ”, Shein, ” Temu, Abe Yousef, Goldman Sachs, Ivy Yang, “, Peng Organizations: Hong Kong CNN —, Temu, CNN, Super, Shein, Consumers Locations: China, Hong Kong, Guangzhou, Chinese, Thailand, Temu, “, United States, Latin America, East, Southeast Asia

☆ Singapore's UOB maintains 2024 guidance even as second-quarter profit misses forecasts
▼ + stars: | 2024-08-01 | by ( ) www.cnbc.com time to read: +1 min

Singapore's United Overseas Bank (UOB) maintained earnings guidance for 2024 after posting on Thursday a 1% year-on-year rise in second quarter net profit that slightly missed expectations. Singapore's United Overseas Bank maintained earnings guidance for 2024 after posting on Thursday a 1% year-on-year rise in second quarter net profit that slightly missed expectations. However, we expect ASEAN to stay relatively resilient," said UOB Deputy Chairman and CEO Wee Ee Cheong in a statement. UOB maintained its 2024 projections of low single-digit loan growth, double-digit fee growth and positive growth in total income, according to Wee's presentation slides accompanying the earnings results. UOB said its April-June net profit rose to 1.43 billion Singapore dollars ($1.07 billion) from SG$1.42 billion a year earlier on the back of higher net fee income, a rebound in loan-related fees and wealth management fees, and double-digit growth in credit card fees.

Persons: Wee Ee Cheong, UOB Organizations: Singapore's United Overseas Bank, ASEAN Locations: Southeast

☆ I shopped at Urban Revivo, Asia's answer to Zara. I'm a convert, but experts say Zara has nothing to worry about — yet.
▼ + stars: | 2024-07-31 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +7 min

Urban Revivo's fits felt way better than Zara'sThe author trying out basics from Zara and Urban Revivo. In contrast, Urban Revivo felt like it had intentionally curated its space with a flow in mind. Aditi BharadeUnlike Zara's bright lights, Urban Revivo was lit more dimly, creating a more relaxed environment. "Urban Revivo has a variety of products, but there is a 'sophomoric' feel to it," Angel said. They also say that it's too early to determine if Urban Revivo will be a true threat to Zara.

Persons: —, Urban, Zara —, Aditi Bharade, Revivo, Zara, Urban Revivo, de Matos, Zara doesn't, Marcie Cooperman, Gregory Angel, Parsons, Angel, Cooperman, Braz de Matos, Richard Tang, Tang, gunning Organizations: Service, Business, Zara, Urban, Fish Lab, Parsons School of Design, Flying Fish Lab, Fashion Momentum Locations: Zara, China, Southeast Asia, New York, London, Israel, Gaza, Jewel, Urban, cardigan, Singapore

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