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London CNN —Intelligence officers in Belgium are monitoring Alibaba’s logistics hub in Europe for possible espionage on behalf of the Chinese government. Belgium’s state security service VSSE told CNN Thursday it was watching the activities of Alibaba’s (BABA) logistics arm, Cainiao, at the country’s Liège cargo airport. “We strongly deny the allegations [which are] based on prior conjecture,” Cainiao told CNN in a statement. Liège airport announced in 2018 that it had struck a deal with Cainiao to become its European logistics hub. Last month, Alibaba announced a plan to spin off and list Cainiao on the Hong Kong Stock Exchange.

Persons: VSSE, “, ” Cainiao, Cainiao, Eric Lalmand, Alibaba, — Juliana Liu Organizations: London CNN — Intelligence, CNN, Financial Times, Cainiao, Getty, European Union, Hong Kong Stock Exchange Locations: Belgium, Europe, Liège, AFP, Belgian, Berlin, Hamburg

London CNN —Workers at Chevron’s liquified natural gas facilities in Australia have begun to walk off the job in a dispute that threatens as much as 7% of global supplies and could add to rising pressure on energy prices. The alliance represents 500 workers at the Gorgon and Wheatstone facilities, both off the coast of Western Australia. “Unfortunately, following numerous meetings and conciliation sessions before the Fair Work Commission, we remain apart on key terms,” a Chevron spokesperson said. “The unions continue to seek terms that are above and beyond equivalent terms with others in the industry, including in agreements recently reached.”News of the breakdown in talks sent European natural gas prices rising. The two Chevron sites are hugely significant, accounting for approximately 6% of global supply, according to analysts at ANZ.

Persons: ” Ben Cahill, Kunro Irie, Daniel Toleman, Wood Mackenzie, ”, — Juliana Liu Organizations: London CNN — Workers, Australian Offshore Alliance, Chevron, Facebook, ”, European Commission, “, Center for Strategic, International Studies, ANZ, Offshore Alliance Locations: Australia, Western Australia, Europe, Russia, Ukraine, Saudi Arabia, United States, Qatar, Asia

☆ Bud Light controversy cost AB InBev about $395 million in lost US sales
▼ + stars: | 2023-08-03 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —The world’s largest brewer is counting the costs of being swept into a controversy over Bud Light in the United States. AB InBev said Thursday that US revenue fell 10% in the second quarter as sales of its top brand slumped. AB InBev responded by saying it took its responsibilities to investors seriously. “Most consumers surveyed are favorable towards the Bud Light brand and approximately 80% are favorable or neutral,” the drinks maker added. Like many other businesses, AB InBev has rolled out cost-cutting measures this year, as it seeks to defend its global lead.

Persons: Bud Light, Bud, influencer Dylan Mulvaney, Kid Rock, Ron DeSantis, ”, Mulvaney, Michel Doukeris, Stella Artois, — Juliana Liu Organizations: Hong Kong CNN, InBev, Revenue, Florida, Bud Light, Modelo Locations: Hong Kong, United States, North America, Canada, Belgian, Corona, China, Brussels, South Africa, Colombia

☆ Washington says Chinese airlines can increase flights to America
▼ + stars: | 2023-05-04 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

The US Department of Transportation confirmed to CNN that it had issued an order permitting Chinese airlines to increase their number of weekly round-trip flights to 12. That’s up from the eight weekly round-trip flights currently allowed for Chinese carriers. Currently, three US airlines American Airlines (AAL), Delta Air Lines (DAL) and United Airlines (UAL) fly routes between the two countries. Chinese operators Air China, China Southern Airlines, China Eastern Airlines and Xiamen Airlines also serve the two markets. Chinese carriers have not been subject to the restrictions, as the relationship between Moscow and Beijing remains intact, leading to calls in the United States and Britain for bans on Chinese flights that use Russian airspace.

☆ Living standards are still falling in Japan. That’s a recipe for more stagnation
▼ + stars: | 2023-04-12 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

Adjusted for inflation, wages slipped 2.6% in February, compared to the same month a year earlier, according to government data released last week. That means it’ll be tough for Ueda to hike interest rates, especially as living standards aren’t rising either. The issue of stagnant wages could improve this year, as companies heed the call to raise salaries in response to inflation. Workers in Japan have been grappling with stagnant wages, leading to a government push for businesses to hike pay. But in Japan, it’s high enough to feel uncomfortable, given stagnant wage growth, according to Angrick.

☆ Alibaba unveils Tongyi Qianwen, its AI-powered answer to ChatGPT
▼ + stars: | 2023-04-11 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Alibaba showed off its answer to the ChatGPT craze on Tuesday, demonstrating new software that it plans to eventually roll out across all its platforms. The Chinese tech giant unveiled Tongyi Qianwen, a large language model that will be embedded in its Tmall Genie smart speakers and workplace messaging platform DingTalk. Alibaba Group CEO Daniel Zhang speaking Tuesday as the Chinese tech giant showed off its answer to the ChatGPT craze, demonstrating new software it plans to integrate across its enterprise and consumer platforms. In draft guidelines issued Tuesday to solicit public feedback, the country’s cyberspace regulator said generative AI services would be required to undergo security reviews before they can operate. Most of those units, including its cloud services business that oversees AI projects, will be authorized to raise capital and pursue public listings.

☆ TSMC: Taiwanese chipmaker plans to hire 6,000 employees in 2023
▼ + stars: | 2023-03-06 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Semiconductor giant TSMC plans to add more than 6,000 jobs this year, despite a broader slowdown in demand for chips. TSMC, which stands for Taiwan Semiconductor Manufacturing Company, produces an estimated 90% of the world’s super-advanced chips. TSMC announced last year that it’s building a second semiconductor factory in Phoenix, and increasing its investment there. The average salary for a new engineer based in Taiwan with a master’s degree would be 2 million New Taiwan Dollars (about $65,400), according to TSMC. That would equate to roughly 533,004 New Taiwan Dollars ($17,426) per year.

New Delhi/London CNN —India’s market regulator is looking into the explosive allegations against Adani Group made by US short seller Hindenburg Research, which accused the conglomerate of “the largest con in corporate history.”The claims, published in late January, set off a crash in the company’s market value and robbed its owner Gautam Adani of his title as Asia’s richest man, as a 400-page rebuttal by the conglomerate failed to reassure investors. Adani Group did not respond to a CNN request for comment on the inquiry on Tuesday. The balance sheet of each of its independent portfolio companies is “very healthy” and “our business plan is fully funded,” the spokesperson told CNN. On Tuesday, shares of many of the listed firms controlled by the conglomerate slid again in Mumbai. Although Adani Enterprises rose 1.9%, there were 5% falls in the stocks of Adani Transmission, Adani Total Gas, Adani Power and Adani Total.

☆ Disney's Marvel movies are returning to China after almost four years with 'Black Panther' and 'Ant-Man'
▼ + stars: | 2023-01-19 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

“Black Panther: Wakanda Forever” will open in China on February 7, roughly three months after its global debut, while “Ant-Man and the Wasp: Quantumania” will open on February 17, Marvel Studios announced on Chinese social media Tuesday. Since then, Marvel’s last eight movies have not been shown in the country, though that will drop down to seven with the upcoming “Black Panther” release, Dergarabedian said. Stars of Marvel Studios' "Black Panther: Wakanda Forever" attending the film's European premiere in London on Nov. 3, 2022. “This likely played a part in this welcome shift in playability for Marvel films in the country.”China’s box office generally rakes in billions of dollars a year. That put North America’s box office ahead once more in 2022, generating more than $7.5 billion compared with China’s $4.4 billion, according to Comscore data.

☆ Davos: No recession after all? Business leaders more hopeful as China reopens
▼ + stars: | 2023-01-17 | by ( Julia Horowitz | ) edition.cnn.com time to read: +4 min

Davos, Switzerland CNN —Bullishness about the global economy has been in short supply among business leaders in recent months, with fears of recession clouding the outlook and restraining investment. That’s thanks in large part to China, whose sudden removal of strict coronavirus restrictions late last year is expected to unleash a wave of spending that may offset economic weakness in the United States and Europe. Near term, China is in the grip of its worst coronavirus outbreak, keeping many people indoors and emptying shops and restaurants in recent weeks. “I’m expecting a solid growth number for China in 2023,” said Kevin Rudd, president of the Asia Society and a former prime minister of Australia. “Maybe we will be surprised also in the first half of the year.”Averting a global recession is not a done deal, however.

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