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☆ Coinbase UK unit fined $4.5 million by British regulator over 'high-risk' customer breaches
▼ + stars: | 2024-07-25 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Photo Illustrating Coinbase in Suqian, Jiangsu Province, China on June 6, 2023 (Photo Illustration by Costfoto/NurPhoto via Getty Images)British regulators fined Coinbase's U.K. arm £3.5 million ($4.5 million) on Thursday over breaching a voluntary agreement designed to stop the cryptocurrency exchange from onboarding "high-risk customers." CB Payments Limited (CBPL) is part of the Coinbase Group, which operates a global crypto trading platform. In October 2020, CBPL entered into a voluntary agreement with the U.K.'s Financial Conduct Authority (FCA), accepting restrictions that prevented it from taking on new customers that the regulator considered high-risk. However, CBPL breached the agreement and onboarded and served 13,416 of so-called high-risk customers, the FCA said. These funds were used to make withdrawals and execute crypto transactions via other Coinbase entities, totaling approximately $226 million.

Persons: CBPL, Therese Chambers, Coinbase Organizations: Getty Images, Payments, Coinbase, Authority, FCA Locations: Suqian, Jiangsu Province, China

☆ Chinese banks cut deposit rates to relieve squeezed margins
▼ + stars: | 2024-07-25 | by ( ) www.cnbc.com time to read: +2 min

Brent Lewin | Bloomberg | Getty ImagesFive of China's major state-owned banks on Thursday cut deposit rates to cushion a hit to their already record low margins after this week's surprise lowering of lending benchmarks to bolster stuttering economic growth. Industrial and Commercial Bank of China (ICBC) , Agricultural Bank of China , China Construction Bank , Bank of China and Bank of Communications cut deposit rates by 5 to 20 basis points, according to statements on their websites. It marks the first broad reduction in deposit rates by Chinese banks since December last year. Prior to that, Chinese lenders had broad cuts to deposit rates in late 2022, their first such move since 2015. ICBC cut its demand deposit rate by five basis points to 0.15% and one-year deposit rate by 10 basis points to 1.35%.

Persons: Brent Lewin, Nie Wen, Nie Organizations: Agricultural Bank of China Ltd, Bloomberg, Getty, Commercial Bank of China, Agricultural Bank of, China Construction Bank, Bank of China, Bank of Communications, Shanghai Hwabao Trust Locations: Guangdong, Guangzhou, Guangdong Province, China, Agricultural Bank of China, Shanghai

☆ Chinese EV startups are spending more on research than Tesla is
▼ + stars: | 2024-07-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

CNBC | Evelyn ChengBEIJING – U.S.-listed Chinese electric car companies are spending more on research as a ratio to sales than Tesla , according to CNBC analysis of the four automakers' first-quarter earnings. Of the four U.S.-listed Chinese electric car companies, Nio ranked first, spending nearly 29% of revenue in the first three months of the year on research and development. He was referring to a popular term in China to describe fierce competition, especially in the electric car industry. She noted that can help Chinese electric car companies respond more quickly to customers and market needs than traditional automakers. Geely has also released an electric car architecture called SEA that it says allows for quicker production of different sized vehicles.

Persons: Evelyn Cheng, Paul Gong, Nio, Elon, Feng Shen, Shen, William Li, Li, Jing Yang, Zeekr's, Parent, Ren Xiangfei, Ren, Geely, Tesla, Taylor Ogan Organizations: CNBC, UBS, Elon Musk's, Ford Motor, China's Ministry of Industry, Information Technology, Fitch, China Passenger Car Association, Snow Bull, Tech Locations: Hefei, Evelyn Cheng BEIJING – U.S, U.S, China, Nio, Hefei city, Anhui, Shanghai, Asia, Pacific, Zhejiang province, Hong Kong, Shenzhen

☆ Typhoon Gaemi (Carina): Thousands stranded by floods in Philippine capital as deadly typhoon prompts calls for climate action
▼ + stars: | 2024-07-25 | by ( Helen Regan | Kathleen Magramo | ) edition.cnn.com time to read: +9 min

CNN —Much of the Philippine capital remained underwater Thursday after deadly Typhoon Gaemi worsened torrential monsoon rains that lashed the country, trapping thousands of people in rising flood waters and causing widespread damage. Lisa Marie David/ReutersA road is seen flooded caused by Typhoon Gaemi and monsoon rains on July 24, 2024 in Quezon city, Metro Manila, Philippines. Ezra Acayan/Getty ImagesRescuers evacuate residents from their flooded homes on July 24, 2024 in Quezon city, Metro Manila, Philippines. An aerial view shows Xindian river's rising water level at New Taipei City as typhoon Gaemi passes Taiwan on July 25, 2024. Residents wade a flooded road caused by Typhoon Gaemi and monsoon rains on July 24, 2024 in Marikina, Metro Manila, Philippines.

Persons: Carina –, Gaemi, Typhoon Gaemi, Lisa Marie David, Ezra Acayan, “, Hsiao Huan, Sam Yeh, Armando Balilo, Vico Sotto, Ferdinand Marcos Jr, Rai, Odette –, Haiyan, Marcos, ” Marcos, Khevin Yu Organizations: CNN, Metro Manila, Philippine News Agency, Rescuers, Reuters, Central Emergency Operations Center, National Fire Agency, New, Getty, Philippine Coast Guard, PCG, CNN “, Philippine, Super, Greenpeace Locations: Philippine, Philippines, Taiwan, Manila, Luzon, Metro, Marikina City, Metro Manila, Quezon city, Taiwan’s, Tanzanian, Kaohsiung, China, Fujian, New Taipei City, AFP, Bataan, Quezon City, Pasig City, Marikina, –, Pasig, Asia’s, Greenpeace Philippines

☆ Jasper wildfire burns structures in a town in the Canadian Rockies’ largest national park
▼ + stars: | 2024-07-25 | by ( Associated Press | ) edition.cnn.com time to read: +5 min

GRAND PRAIRIE, Alberta AP —One of two raging wildfires menacing the town of Jasper in the Canadian Rockies’ largest national park roared into town Wednesday and began burning buildings. Jasper National Park officials said the fire entered the southern edge of the community Wednesday evening and crews were battling multiple structural fires and working to protect key infrastructure. Forest firefighters and others without self-contained breathing apparatuses were told to evacuate to the nearby town of Hinton, with structural firefighters staying behind. Searchers looking through the backcountry trails of Jasper National Park already had picked up 245 people, and they continued the search Wednesday in two helicopters, Ellsworth said. Residents and visitors streamed out by the thousands late Monday and Tuesday, and officials said Wednesday the evacuation of the town of Jasper was complete.

Persons: James Eastham, “, ”, Jasper, –, Justin Trudeau, Danielle Smith, Katie Ellsworth, Carolyn Campbell, perimeters, Ellsworth, Crews, Marilyn Monroe, wasn’t, Leanne Maeva Joyeuse, “ We’re, ” Joyeuse Organizations: PRAIRIE , Alberta AP, Canadian Rockies, Jasper National, Parks Canada, Pipeline, Jasper National Park, Canadian Press, United Nations, Hollywood, Residents Locations: PRAIRIE , Alberta, Jasper, Hinton, Alberta, Canada, Jasper , Alberta, ” Jasper

Typhoon Gaemi was weakening as it churned toward mainland China on Thursday, hours after the storm’s powerful winds and heavy rains submerged roads and forced the suspension of hundreds of flights in nearby Taiwan. The tropical cyclone made landfall on Taiwan on Wednesday night with wind speeds equivalent to those of a Category 3 hurricane in the Atlantic Ocean, according to the Joint Typhoon Warning Center, a U.S. Navy forecasting organization. As of Thursday the storm had killed at least six people in Taiwan and the Philippines. Gaemi was moving across the Taiwan Strait early Thursday afternoon. It was expected to make landfall in the southeastern Chinese province of Fujian in the late afternoon or evening with the force of a Category 1 hurricane.

Persons: Gaemi Organizations: Typhoon, U.S . Navy Locations: China, Taiwan, U.S, Philippines, Taiwan Strait, Chinese, Fujian

Typhoon Gaemi is expected to strengthen into a super typhoon before making landfall on Taiwan’s northeastern coast Wednesday evening. Heavy rain hit Taiwan ahead of the storm’s landfall on Wednesday, with the island’s mountainous areas already reporting rainfall approaching 200 millimeters (8 inches). Typhoon Gaemi is strengthening in Pacific waters that have been at their warmest temperatures on record. Images show roads and streets in Manila flooded by rains brought by Typhoon Gaemi, as people wade through knee-deep water. Torrential rainfall hit southern, central and eastern parts of the country and led to major emergency response efforts in a flood season that has started some two months ahead of its typical schedule.

Persons: Gaemi, Han, Sun Li, fiang, Typhoon Gaemi, Ferdinand Marcos Jr, – Organizations: Taiwan CNN, Typhoon Warning, Central Meteorological Agency, CMA, Taiwan Railways, China Airlines, Starlux Airlines, Philippine Stock Exchange, Taiwan Locations: Taipei, Taiwan, Fujian, Hualien county, chipmaking, Hsinchu, Kaohsiung, China, Hualien ., Philippines, Manila, Luzon, Philippine, Zhejiang, Jiangxi, Henan, Shanxi, Hebei

☆ North Korea’s trash balloons fall near South’s presidential office
▼ + stars: | 2024-07-24 | by ( Yoonjung Seo | Brad Lendon | ) edition.cnn.com time to read: +4 min

The discovery at the presidential office Wednesday came after South Korean authorities warned the public to beware of falling objects as suspected North Korean trash balloons moved south toward the northern area of Gyeonggi province. “While monitoring trash balloons sent by North Korea in cooperation with the Joint Chiefs of Staff today, we identified trash that fell in the presidential office area in Yongsan,” the presidential security service said later in a statement. “North Korea’s actions clearly violate international law and seriously threaten the safety of our citizens,” JCS said in a statement after an earlier balloon incident. Despite repeated North Korean warnings, the South Korean activists were “not stopping this crude and dirty play” she said. The South Korean Defense Ministry said the US planes will join with South Korean F-15, F-16 and FA-50 fighters in exercises that will end August 8.

Persons: –, Kim Jong, Kim Yo Jong, ” Kim Yo Jong, “, Washington Organizations: South Korea CNN, South, North, Joint Chiefs of Staff, Korea’s, Chiefs of Staff, South Korean, North Korean, Korean Central News Agency, US Marine Corps, Suwon Air Base, South Korean Defense Ministry, US Defense Department, Marine Corps, ” Locations: Seoul, South Korea, South, Gyeonggi province, North Korea, Yongsan, Pyongyang, South Korean, North Korean, North Korea’s, United States, ” North Korea, North

☆ Chinese EV stocks drop after Tesla's earnings miss, General Motors delays EV plans
▼ + stars: | 2024-07-24 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

(Photo by Costfoto/NurPhoto via Getty Images)Shares of major Chinese electric vehicle companies dropped Wednesday after U.S. giant Tesla 's earnings fell short of analysts' estimates and General Motors delayed its EV plans. EV hype has been dwindling, as automakers from Tesla to General Motors scale back or delay their EV plans. Tesla shares closed 2.04% lower. Separately, General Motors on Tuesday said it was delaying further a second U.S. electric truck plant and the Buick brand's first EV. Investors were spooked by the pullbacks in growth businesses and General Motors' shares closed 6.42% lower on Tuesday despite solid financial results.

Persons: Tesla, Xpeng, Nio, Li Auto, Elon Musk, Musk Organizations: 21st Changchun International Automobile, Getty, U.S, General Motors, EV, Zhejiang Leapmotor, SAIC, Motors, Buick, Investors Locations: Changchun, Jilin province, China, Hong Kong, BYD, Zhejiang, U.S, Xpeng

☆ Fierce storm topples tree at Cambodian Angkor temple complex, killing 1 and damaging statues
▼ + stars: | 2024-07-24 | by ( Story Ap | ) edition.cnn.com time to read: +2 min

CNN —One person was killed and three others were injured at Cambodia’s famed centuries-old Angkor temple complex when a large tree was blown down onto their vehicle during a fierce rainstorm, the government said Wednesday. Police respond after a storm toppled a tree, killing one person and damaging statues at the Angkor archaeological site in Siem Reap, Cambodia, on Tuesday, July 23, 2024. Thmey Thmey Online News/APSeveral statues on the balustrade of what is called Tonle Oum Gate were also damaged by the falling tree, the statement said. The agency later announced that the tree had been removed and the entrance was again accessible to visitors. The Angkor site sprawls across some 155 square miles, containing the ruins of capitals of various Cambodian empires from the 9th to the 15th centuries.

Persons: Thmey Organizations: CNN, Tourism Ministry, Siem Reap Provincial Administration, Police, National Authority Locations: Angkor, Siem Reap, Phnom Penh, South, Southeast Asia, Siem Reap Provincial, Cambodia

☆ They built a home in Thailand after their US property was flooded in a hurricane
▼ + stars: | 2024-07-22 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +12 min

CNN —With his retirement fast approaching, Jim Dolan, from the US, felt as though his future was more or less mapped out. “I was not ready to leave the United States at that point,” Jim Dolan explains. “I feel safer here in Thailand than I think in any of the cities that I lived in the United States. “I think she had a bigger challenge moving to the United States than I had coming here,” he says. “But overall, I think we’re much better off here than we would have been in the United States had we stayed there.”

Persons: Jim Dolan, Som Dolan, Hurricane Harvey, ” Jim Dolan, Som, Jim, hadn’t, Jim Dolan –, Worcester , Massachusetts – hadn’t, “, ”, they’d, Sam Roi Yot, Prachuap Khiri Khan, pugs Morgan, Gwennie, he’s, it’s, … ”, haven’t, – Morgan, I’ll, They’ve Organizations: CNN, NASA, CNN Travel, Houston, “, United Locations: Thailand, Houston, Hurricane, Texas, Worcester , Massachusetts, Bangkok, United States, Thai, Washington , DC, Prachuap, Gulf, Sam, Roi, Denver, Austin, Spanish, East Coast

☆ China’s summer of devastating floods shows steep challenge as it grapples with extreme weather
▼ + stars: | 2024-07-22 | by ( Simone Mccarthy | Joyce Jiang | ) edition.cnn.com time to read: +9 min

Villagers clean rubbish after torrential rains caused flooding in Meizhou, Guangdong province of China on June 19. John Ricky/Anadolu/Getty ImagesA man drives through a muddy street in the aftermath of flooding from heavy storms in Meizhou, Guangdong province last month. “All my hard work for a year has come to nothing.”A road is flooded following heavy rainfall in Jiangxi province on July 4. China’s government has mounted a top-down effort to revamp how the country responds to extreme weather in recent years after 2021 floods in Henan’s Zhengzhou killed more than 300 people. But there have been past issues of misappropriation of state recovery funds, for example following the deadly 2021 floods in Zhengzhou.

Persons: John Ricky, –, Xi Jinping, it’s, “, Tingshu Wang, ”, Hongzhang Xu, Typhoon Doksuri, Li Zhao Organizations: Hong Kong CNN, Getty, Communist Party, AFP, China’s Ministry of Emergency Management, Agricultural Television, Retailers, Workers, CNN Weather, ” Observers, Australian National University, Reuters, Greenpeace East, “ Locations: China, Hong Kong, sweltering Henan, Nanyang, speedboats, Meizhou, Guangdong province, Guangdong, AFP, Guangzhou province, Henan, Hunan, Lake, Henan’s Nanyang, Jiangxi province, Shaanxi, Sichuan, Hunan province's Changsha, Chongqing, Hainan, Zhengzhou, breadbasket, Jiangxi, Munich, Greenpeace East Asia, Beijing, –

☆ In a Taiwan war, the US could find itself fighting China without its top allies
▼ + stars: | 2024-07-21 | by ( Michael Peck | ) www.businessinsider.com time to read: +8 min

The study excluded nations that already faced a risk of direct conflict with China, the US and their respective allies. On the other hand, America's top allies don't share American fears that a massive Chinese military buildup and Chinese leader Xi Jinping's avowed determination to "reunify" Taiwan with China are steps toward war, but rather may be nationalistic posturing. AdvertisementYet if Japan, Australia, Britain and Canada are reluctant to confront China, there are actions they can take to help Taiwan. In addition, the four middle powers could play a role in mediators to prevent a Taiwan war from happening. "To build credibility with both great powers, the four middle powers need to rebuild and bolster their strategic autonomy, material power, and commitment to the Asia-Pacific region."

Persons: Rafiq Dossani, isn't, Xi Jinping's, China's, Dossani, Michael Peck Organizations: Service, America's, RAND Corp, RAND, Business, Taiwan's Ministry of Foreign Affairs, Canada, Chinese Communist Party, NATO, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Taiwan, China, Japan, Australia, Canada, American, South Korea, India, Beijing, Asia, South China, Pacific, Okinawa, East China, Britain, Europe, Forbes

☆ China's Xi urges all-out rescue efforts after highway bridge collapse kills 11
▼ + stars: | 2024-07-20 | by ( ) www.cnbc.com time to read: +1 min

Chinese President Xi Jinping chairs a symposium on advancing the integrated development of the Yangtze River Delta and delivers an important speech in east China's Shanghai, Nov. 30, 2023. President Xi Jinping urged all-out rescue efforts after a highway bridge collapse on Friday in Shaanxi province in China's northwest killed 11 people, state media reported on Saturday. As of 10 a.m. on Saturday, five vehicles were confirmed to have fallen into the water and 30 people were reported missing, state media said. Xi said China is in a critical period for flood control and local governments must take responsibility to enhance monitoring and early warning. China's national fire and rescue authority said on Saturday it had dispatched a rescue team to the site that included 859 people, 90 vehicles, 20 boats and 41 drones.

Persons: Xi Jinping, Xi Locations: China's Shanghai, Shaanxi, China's, Shangluo city, China

CNN —At least 12 people have died and 31 others are missing after a bridge partially collapsed in China’s northern province of Shanxi, according to Chinese state broadcaster CCTV. Authorities said a portion of the bridge in Zhashui County in the city of Shangluo collapsed on Friday evening after recent rains and flash flooding. As of 12 p.m. local time (12 a.m. ET) Saturday, search and rescue operations were ongoing after 17 cars and 8 trucks fell into the river, state media reported. Parts of China have been grappling with devastating floods, just weeks after scarce rainfall and sweltering temperatures created drought conditions.

Persons: Xi Jinping Organizations: CNN, CCTV, Authorities, Reuters Locations: China’s, Shanxi, Zhashui County, Shangluo, China, Henan, Sichuan, Hanyuan County

☆ China's cooking oil scandal prompts residents to buy oil presses amid food safety concerns
▼ + stars: | 2024-07-19 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

They are turning to making their own oil by buying household oil press machines. a post on social media platform Xiaohongshu, captioning a video of a bottle of cooking oil, showcased locals' worries. China's authorities have launched an investigation into food safety concerns after domestic media revealed that a major state-owned company, Sinograin, had been using tankers that carry fuel to transport cooking oil. Be careful of 'Made in China' food products," Rein told CNBC's "Squawk Box Europe." "Illegal enterprises and relevant responsible persons will be severely punished in accordance with the law and will not be tolerated," China's Commission on Food Safety of the State Council said.

Persons: It's, Shaun Rein, Rein, CNBC's Organizations: Chinese Communist Party, Beijing, Private, Hopefull, Oil Group, Beijing News, China Market Research, Times Finance, Food, State Locations: China, China's Guangxi, Australia, Europe, Hong Kong

☆ Britain's Labour faces an uphill battle as it looks to rein in AI's key players
▼ + stars: | 2024-07-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

By taking aim at the most powerful AI models, Labour would impose tighter restrictions on companies such as OpenAI, Microsoft , Google , Amazon , and AI startups including Anthropic, Cohere and Mistral. Matthew Houlihan, senior director of government affairs at Cisco, said any AI rules would need to be "centered on a thoughtful, risk-based approach." Even so, a U.K. AI law would be a step above the U.S., which currently doesn't have federal AI legislation of any kind. Sirion's Liu said one thing he's hoping the government doesn't do, is restrict open-source AI models. Herman Narula, CEO of metaverse venture builder Improbable, agreed that restricting open-source AI innovation would be a bad idea.

Persons: Keir Starmer's, King Charles III, doesn't, Starmer's, Matt Calkins, Appian, Lewis Liu, Liu, Rishi Sunak, Peter Kyle, Kyle, Zahra Bahrololoumi, Matthew Houlihan, Bill, Chris Holmes, Holmes, Matthew Holman, Cripps, Holman, Sirion's Liu, Herman Narula, Narula Organizations: Future Publishing, Labour, European Union, Microsoft, Google, CNBC, Conservative, BBC, AI Safety Institute, Cisco, Authority, EU, AI Safety, Tech, London Tech Week Locations: Jiangsu province, China, Ireland, Salesforce, U.S

☆ Can New York City Ever Win Its War Against Rats?
▼ + stars: | 2024-07-19 | by ( Ginia Bellafante | ) www.nytimes.com time to read: +2 min

What do rats do in heat waves? As temperatures have continued to stifle all will, and the humidity level has been Bangkok-in-a-thunderstorm-percent high, I raised the question with Kathleen Corradi, New York City’s first dedicated rat czar. The specific target of her enmity is the improbably named Norway rat, the dominant species in the city. Rats are mammals, Ms. Corradi pointed out, and they find oppressively warm weather as enervating as we do. A happy rat is reproducing at a rate that science says we cannot exterminate our way out of.”

Persons: Kathleen Corradi, Eric Adams, Corradi, ”, “ Organizations: Silk, Bloomberg Locations: Bangkok, Kathleen Corradi , New York, Norway, Scandinavia, Oslo, New York, York, Calgary, Alberta Province

Risk is extreme Risk is high Risk is negligible Risk is medium Risk is high Risk is low Risk is high Risk is negligible Risk is negligible Risk is medium Risk is extreme Risk is high Risk is extreme Risk is extreme Risk is medium Risk is medium Risk is high Risk is high Risk is high Risk is extreme Risk is high Risk is low Risk is extreme Risk is extreme Risk is extreme Risk is low Risk is low Risk is negligible Risk is extreme Risk is high Risk is extreme Risk is negligible Risk is low Risk is high Risk is negligible Risk is negligible Risk is high Risk is extreme Risk is low Risk is extreme Risk is high Risk is high Risk is low Risk is extreme Risk is low Risk is medium Risk is extreme Risk is low Risk is negligible Risk is mediumIn a small apartment outside Madrid on Jan. 11, 2022, an argument over household chores turned violent when Lobna Hemid’s husband smashed a wooden shoe rack and used one of the broken pieces to beat her. Yes No N/AThe system produced a score for each victim: negligible risk, low risk, medium risk, high risk or extreme risk. Judges can serve as a check on the VioGén system, with the ability to intervene in cases and provide protective measures. The ministry declined to disclose the VioGén risk scores of the 247 who were killed. Of those, 55 had been classified as negligible risk or low risk.

Persons: Lobna, Hemid’s, Bouthaer el Banaisati, Hemid, —, VioGén, el Banaisati, Ana Maria Arevalo Gosen, Alice Fang Spanish, ”, Susana Pavlou, Juan José López, Jesús Melguizo, Antonio Pueyo, Pueyo, “, Mr, Juanjo Medina, “ We’re, Francisco Javier Curto, ” Francisco Javier Curto, The New York Times José, Sindicato, Serafín Giraldo, Escarraman, Stefany González Escarraman, Williams Escarraman, Escarraman’s, Eva Jaular, Jaular, Elisabeth, Ana María Arévalo, Luz, ” Luz, you’ve, María, it’s, Agudo, Ossorio, Fernando Grande, Amelia Franas, Police haven’t, Melguizo Organizations: Jan, The New York Times, VioGén, Interior Ministry, New York Times, Spanish, Council of, Mediterranean, of Gender Studies, The Times, University of Barcelona, Police, Basque Country, Times, University of Seville, United Association of Civil Guards, “, The New York Locations: Spain, Madrid, The New York Times Spain, United States, Netherlands, Britain, Canada, Germany, Catalonia, Basque, Seville, VioGén, Alicante, Liaño, Spanish, Southern Spain, Granada, Morocco

☆ Trump's stance on Taiwan could potentially be devastating for the US economy
▼ + stars: | 2024-07-18 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

Trump's stance could have major implications for Taiwan's dominance in semiconductor chip manufacturing should any potential conflict arise between Taiwan and China. And such a scenario would likely have a cataclysmic effect on the US economy should the global chip supply chain be disrupted. And Taiwan's microchip production is anchored by the Taiwan Semiconductor Manufacturing Company, or TSMC, a global powerhouse. A recent report released by the Semiconductor Industry Association revealed that America's share of global chip manufacturing is set to increase to 14% by 2032. After Trump's latest remarks about Taiwan and the potential for tighter trade curbs on China, global chip stocks fell, with notable declines for Nvidia, TSMC, and Qualcomm, among others.

Persons: —, Donald Trump, Trump, Joe Biden, Biden, CJ Muse, Cantor Fitzgerald, Trump's Organizations: Service, Bloomberg Businessweek waded, Business, Taiwan Semiconductor Manufacturing Company, US State Department, Financial Times, Bloomberg Businessweek, Congress, China, Bloomberg, CNBC, of Commerce, BIS, of Industry, Security, Semiconductor Industry Association, Nvidia, TSMC, Qualcomm Locations: Taiwan, China, Beijing, America

☆ I'm a Gen Z welder. This job kills your body, but I'm earning $2,000 a week and getting ripped doing it.
▼ + stars: | 2024-07-17 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +8 min

It's hard work and requires you to be precise — that kind of intensity was something I was looking for in a job. Related storiesI'm killing my body every day, but it's worth it because welders make insane money, and I'm getting jacked doing it. AdvertisementI can see the hard work paying off physically; it's great for the body. I'm covered in bruises and scratches from the job — I'm definitely pretty beat up. You just need to ensure you have a good supervisor who knows you work hard and respects you.

Persons: —, Elizabeth, I'd, I've, I'm, it's, Elizabeth There's, who's, Elizabeth Next Organizations: Service, Business, Red Seals Locations: Alberta, Canada

☆ China probes companies for allegedly giving pregnancy tests to job seekers
▼ + stars: | 2024-07-17 | by ( Kathleen Magramo | Joyce Jiang | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —More than a dozen Chinese companies face legal action for allegedly asking job applicants to take pregnancy tests, state media has reported. Chinese law bans employers from administering pregnancy tests or discriminating against pregnant workers. In Nantong, authorities were tipped off by an online public litigation group, which said some employers in the city had given pregnancy tests to job seekers. Demographic crisisChina’s population has shrunk for two years in a row and its birth rate in 2023 was the lowest since the founding of the People’s Republic in 1949. Alarmed by the falling birth rate in recent years, the government scrapped the “one child” policy that was in place for 35 years.

Organizations: Hong Kong CNN, Prosecutors, Employers, CNN, Population Research Locations: China, Hong Kong, Nantong, Jiangsu, People’s Republic, India

☆ Zigong, China: Fire at shopping mall kills 16 people
▼ + stars: | 2024-07-17 | by ( Sophie Tanno | Shawn Deng | ) edition.cnn.com time to read: +1 min

CNN —Sixteen people were killed after a fire broke out at a shopping mall in southwest China on Wednesday, according to Chinese state media. Dramatic images showed a huge column of black smoke billowing from the 14-story building in the city of Zigong, Sichuan province. Rescuers work at the site of the fire in China's Zigong city on July 17, 2024. Such incidents are not uncommon in China, where enforcement of safety standards is often lax. In January, a fire at a mixed-use building in southeast China killed at least 39 people just days after another blaze at a boarding school in central Henan province killed 13 children.

Organizations: CNN, CCTV, Visual China, China’s Ministry of Emergency Management Locations: China, Zigong, Sichuan province, China's Zigong, Henan

☆ Bosses in China have been accused of making job applicants take pregnancy tests: report
▼ + stars: | 2024-07-17 | by ( Mikhaila Friel | ) 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 previewSeveral Chinese companies have been accused of introducing a controversial and illegal new step to their recruitment process: Pregnancy tests. "We can speculate from this evidence that the pregnancy tests were required by these companies, and it had violated women's rights to equal work opportunities," the prosecutors said, according to SCMP. As CNN and SCMP reported, Chinese companies can be fined up to 50,000 yuan, or around $6,900, for gender discrimination. It said that after China scrapped its one-child policy several years ago, the majority of women surveyed by various Chinese companies and women's groups said they had been subjected to discrimination.

Persons: —, Prosecutors, SCMP, Chen, Huang Organizations: Service, Prosecutors, CNN, South China Morning, Business, Human Rights Watch Locations: Nantong, Jiangsu, China

☆ Tiger testicles and mythical banquets: What China’s emperors inside Beijing’s secretive Forbidden City really ate
▼ + stars: | 2024-07-16 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +21 min

CNN —The Forbidden City was once one of the most powerful places on the planet. It was called the ‘Forbidden City’ because few Chinese subjects were allowed to enter. Ancient tableware from the Forbidden City is on display at the Hong Kong Palace Museum. “The majority of (the emperors) grew up in a highly disciplined environment,” says Wang of the Hong Kong Palace Museum. Now popular worldwide, Peking duck was regularly served at Empress Dowager Cixi's Forbidden City banquets.

Persons: Zhao Rongguang, Bin Xiao Zhao, Deng Xiaoping, Beijing . Zhao, wasn’t, Zhao, Kangxi Emperor, VCG Wilson, Kangxi, ”, Qianlong Emperor, Giuseppe Castiglione, –, Qianlong, Daisy Yiyou Wang, Maggie Wong, Nicole Chiang, ” Chiang, Chiang, Emperor Qianlong, it’s, “, ” Zhao, It's, didn’t, Wang, Dowager Cixi, Empress Dowager Cixi –, Cixi, China’s, Han Quan Xi, ’ ”, Dowager, Tian, Yan ”, suckling, Tian An Yan, Leah Abucayan Organizations: CNN, Historical, of China, Beijing's, Hong Kong Palace Museum, Hong, Forbidden, Hong Kong, Museum, Everett, Communists, China Import, Fair, Communist Locations: Europe, Beijing, China, Chinese, Heilongjiang, Paris, Beijing ., Prosperity, Netherlands, Italian, City, Hong Kong, It’s, Beijing’s, Forbidden City, Jiangnan, Hangzhou, Shanghai, Mongolia, Qianlong, Guangzhou, Japan, East Asia, Peking, Imperial

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