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☆ Evergrande shares rise over 9% as court hearing to wind up property firm is postponed again
▼ + stars: | 2023-12-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

NANJING, CHINA - AUGUST 18, 2023 - Aerial photo shows a residential area of Evergrande in Nanjing, East China's Jiangsu province, Aug 18, 2023. The firm was originally scheduled to face a Hong Kong court hearing on Monday over a petition from a creditor seeking to wind up the company. Shares of Evergrande Group rose over 9% as the beleaguered Chinese property firm's court hearing over its possible liquidation was postponed to Jan. 29, 2024. Top Shine, an investor in Evergrande unit Fangchebao, had filed a petition in June 2022 seeking to wind up the property firm. The agency, however, reported that creditors were unlikely to accept Evergrande's new proposal, given low recovery prospects and growing concerns about its future.

Persons: Linda Chan Organizations: Getty, Hong, Bloomberg, Reuters, Hong Kong, Evergrande, New Energy Vehicle Group Locations: NANJING, CHINA, Evergrande, Nanjing, East China's Jiangsu, Hong Kong, Hong Kong's

HONG KONG (AP) — A Hong Kong court will convene a hearing Monday on troubled Chinese property developer Evergrande’s plans for restructuring its more than $300 billion in debts and staving off liquidation. The company, the world’s most indebted property developer, ran into trouble when Chinese regulators cracked down on excessive borrowing in the real estate sector. The Hong Kong High Court has postponed the hearing over Evergrande’s potential liquidation several times. But others including Country Garden, China's largest real estate developer, have also run into trouble, their predicaments rippling through financial systems in and outside China. Police are investigating Zhongzhi Enterprise Group, a major shadow bank in China that has lent billions in yuan (dollars) to property developers, after it said it was insolvent with up to $64 billion in liabilities.

Persons: Hui Ka Yan, Linda Chan, Evergrande Organizations: Hong, Hong Kong High Court, Police, Zhongzhi Enterprise Group Locations: HONG KONG, Hong Kong, Beijing, China

Once China’s most prolific property developer, China Evergrande has narrowly averted liquidation. A Hong Kong bankruptcy judge on Monday gave Evergrande another two months to work out a deal with foreign investors who lost money when the company defaulted two years ago with hundreds of billions of dollars in debt. It was an unexpected development in a bankruptcy lawsuit filed 18 months ago by one investor trying to get paid by forcing the dismantling of Evergrande. It was one of the country’s most successful companies and at the heart of the real estate industry, which drove one third of the nation’s economic growth. But years of overexpansion left it financially precarious, and when it defaulted, it had more than $300 billion of overdue bills.

Persons: China Evergrande, Evergrande, Jan, Linda Chan, ”, Neil McDonald, Kirkland, “, overexpansion Organizations: Hong, Ellis Locations: China, Hong Kong

☆ At VMware, 'change' and 'uncertainty' loom after its $69 billion acquisition by Broadcom, which left customers on edge
▼ + stars: | 2023-12-02 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +9 min

Under Broadcom, VMware will operate in four divisions, Broadcom CEO Hock Tan told employees last week in an email. Competitors swoop inNow that Broadcom has acquired VMware, competitors, and partners see a big opportunity to win over VMware customers. VMware customers had already been concerned that Broadcom ownership may hurt innovation and cause a talent exodus , while VMware slowed down customer deals, BI previously reported. He said he has heard from VMware customers that they're "really concerned" and that Broadcom is "confirming the worst fears" customers have about the acquisition. VMware layoffsBroadcom conducted layoffs of VMware employees on Monday.

Persons: It's, it's, Hock Tan, Hock, Nutanix, Rajiv Ramaswami, they've, Ramaswami, Bryan Cantrill, Cantrill, they'll, what's, Tan, he'll, Hock E, Tan Lucas Jackson, Raghu Raghuram Organizations: Broadcom, VMware, Business, EMC, Dell, Employees, BI, Oxide Computer Company, San Francisco Chronicle, Symantec, CA Technologies Locations: China, Dell, India, Latin America

☆ Scientists in Discredited Alcohol Study May Advise U.S. on Drinking Guidelines
▼ + stars: | 2023-12-01 | by ( Roni Caryn Rabin | ) www.nytimes.com time to read: +1 min

Five years ago, the National Institutes of Health abruptly pulled the plug on an ambitious study about the health effects of moderate drinking. The reason: The trial’s principal scientist and officials from the federal agency’s own alcohol division had solicited $60 million for the research from alcohol manufacturers, a conflict of interest and a violation of federal policy. Now, that scientist and another colleague from the aborted study with alcohol industry ties have been named to a committee preparing a report on alcohol and health that will be used to update the federal government’s guidelines on alcohol consumption. Members of the public can submit comments on the tentative appointments through Wednesday, Dec. 6. Chan School of Public Health, who has said in various financial disclosures that he has accepted money from the alcohol industry, has been nominated to chair the committee.

Persons: Kenneth Mukamal, Eric Rimm, Megan Lowry, Rimm Organizations: National Institutes of Health, Harvard, National Academies of Sciences, Engineering, Medicine, of Public Health Locations: Chan

☆ Broadcom CEO Hock Tan plans to consolidate teams at VMware: 'I don't need two sales organizations'
▼ + stars: | 2023-11-30 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +2 min

Broadcom CEO Hock Tan plans to consolidate some teams at VMware following his blockbuster acquisition of the cloud software provider. He said Broadcom plans to consolidate offices and teams at VMware, particularly those in sales, HR, and finance, according to a recording of the meeting reviewed by Business Insider. "Broadcom has a software group that sells to many of the same customers VMware sells to," Tan said at the meeting. Already, Broadcom has started laying off VMware employees, BI first reported. Besides consolidating teams and laying off employees, Broadcom is looking into strategic alternatives for its End-User Computing and Carbon Black units, Tan said in an email last week.

Persons: Hock Tan, Tan Organizations: Broadcom, VMware, Business, San Francisco Bay Area, San Francisco Chronicle Locations: San Francisco Bay, Palo Alto

☆ Broadcom CEO tells VMware employees that it doesn't do company-wide parties or employee-resource groups: 'That's an alien concept to me'
▼ + stars: | 2023-11-30 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +3 min

On Tuesday, Broadcom CEO Hock Tan addressed questions from VMware employees in an all-hands meeting. Some employees asked about company culture perks such as employee-resource groups and company-wide parties – both of which Tan said Broadcom doesn't do, according to a recording of the meeting viewed by Business Insider. Tan added that Broadcom doesn't have those groups although it doesn't mean the company shouldn't and that it could learn from them. He said Broadcom doesn't do celebrations on a company-wide basis, but each division can choose to have celebratory or team-building events if they want. Broadcom laid off VMware employees on Monday.

Persons: Hock Tan, Tan Organizations: Broadcom, VMware, Business, Broadcom doesn't

☆ Sam Altman suddenly looks less powerful. The panic caused by OpenAI's near-death experience is to blame.
▼ + stars: | 2023-11-30 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

VCs threatened to sue OpenAI's board, and some jockeyed to get in on whatever new situation might replace the fizzled startup. And in OpenAI's case, Altman was brought back as CEO and all the employees stayed. AdvertisementUntil this moment, the consensus was that Altman came through this crisis looking even more powerful and crucial to OpenAI's future. 'The company will be totally fine without me'Silicon Valley just realized that the fate of the world's most important AI company rested in the hands of just one person. The startup's near-death experience unsettled the companies and developers that have come to rely on OpenAI's artificial intelligence platform.

Persons: OpenAI, Altman, —, Sam Altman, VCs, OpenAI's, Wesley Chan, Claude, Guillermo Rauch, Rauch, pinged Rauch, –, Bret Taylor, Madeline Renbarger Organizations: Service, Microsoft, FDIC, FPV Ventures, Google, Services Locations: Silicon Valley, It's

☆ Leaked memo: Employees joining Broadcom from the VMware acquisition must return to the office by December 4
▼ + stars: | 2023-11-30 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +4 min

Broadcom sent an email to employees joining from VMware telling them they must return to an office by Monday. Employees living over 50 miles from a Broadcom office may be considered remote if Broadcom management approves it, the email said. Tan had told VMware employees before the acquisition's close that he expected employees to return to the office. VMware employees told BI they worried about a culture clash because VMware was more remote-friendly. A1: Typically, individuals over 50 miles from a Broadcom office may be considered remote.

Persons: Hock Tan, Tan, we've Organizations: Broadcom, VMware, Business, BI, Employees Locations: US, Americas, Asia, Pacific, Europe, Africa

☆ One identical twin went vegan while the other didn’t. See what happened
▼ + stars: | 2023-11-30 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +7 min

A vegan diet differs from a vegetarian diet in that it eliminates not only animal flesh but dairy, eggs or any other ingredient derived from animals. In each pair, one twin was assigned a vegan diet, while the other was assigned an omnivore diet. “I feel like a lot of people who do a vegan diet think ‘Oh great, soda is vegan. Cutting back on eating meat and animal byproducts can be done slowly, bit by bit. Harvard’s Hu agreed: “While this study showed a vegan diet may provide additional advantages compared to a healthy omnivorous diet, it does not mean that everyone should become a vegan or vegetarian.

Persons: ”, Christopher Gardner, Gardner, “, ” Alice Lichtenstein, Frank Hu, ” Hu, ” Gardner, “ I’m, quinoa, there’s, Harvard’s Hu Organizations: CNN, Stanford Prevention Research Center, Nutrition Studies Research, Stanford, Tufts University’s Cardiovascular Nutrition Laboratory, Harvard, of Public Health, JAMA Locations: Palo Alto , California, Chan, Boston, Brussels, Yukon

☆ Leaked all-hands: Broadcom CEO tells employees living within 50 miles of an office to 'get your butt in here'
▼ + stars: | 2023-11-30 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +1 min

Hock Tan, the CEO of Broadcom, said in an all-hands meeting Tuesday that he expects employees living within 50 miles of an office to return to in-person work. One submitted question was: "What can you tell me about headquarters, office locations, and remote work?" "Any other exception, you better learn how to walk on water if you want to work remote," Tan said at the meeting. Broadcom laid off some VMware employees earlier this week, BI first reported. Before the acquisition closing, Tan was already telling VMware employees that he expected them to return to the office.

Persons: Hock Tan, Tan Organizations: Broadcom, VMware, Business Locations: Palo Alto , California, Palo Alto

Owen Chow Ka-shing, one of the 47 pro-democracy activists charged with conspiracy to commit subversion under the national security law, arrives at West Kowloon Magistrates' Courts building, in Hong Kong, China November 29, 2021. On the first day of closing submissions, one of the handpicked national security judges, Andrew Chan, said a verdict would "tentatively" come in three to four months, with 10 days set aside for closing submissions. Beijing says the national security law brought stability to the city after monthslong pro-democracy protests in 2019. "Communication with the public is much easier, (it's) easy to manipulate those means in order to endanger national security," he added. Thirty-one of the 47 charged have pleaded guilty - which could qualify them for reduced sentences.

Persons: Owen Chow Ka, Lam, Andrew Chan, Hong, Jonathan Man, Man, Gwyneth Ho, Owen Chow, Gordon Ng, Leung Kwok, Helena Wong, Benny Tai, Joshua Wong, Gerry Doyle Organizations: REUTERS, Hong, Thomson Locations: Kowloon, Hong Kong, China, HONG KONG, United States, Beijing

☆ North Korean special economic zone poised for revival in new Russia trade
▼ + stars: | 2023-11-29 | by ( Ju-Min Park | ) www.reuters.com time to read: +6 min

China accounted for 97% of North Korea's overall trade in 2022, according to South Korea's Korea Trade Investment Promotion Agency (KOTRA). But Russia resumed oil exports to North Korea in December 2022 and had exported 67,300 barrels of refined petroleum to North Korea by April, United Nations data shows, the first such shipments reported since 2020. "Assuming North Korea and Russia's honeymoon period becomes a long one, North Korea could get Russian support on food, energy and infrastructure through Rason," Cho said. Those ships are suspected of military supplies from North Korea to Russia, the reports said. From Rason's port, North Korea has sent Russia an estimated 2,000 containers suspected of carrying artillery shells, and possibly short-range missiles, South Korean military officials have told reporters.

Persons: Rason, Jeong Eunlee, Jeong, Lee Chan, Cho Sung, Cho, Alexander Kozlov, Chung Songhak, Chung, Kim Jong Un, Kozlov, Kim Il Sung, Abraham Choi, Choi, Rason . Lee, Lee, Josh Smith, Gleb Stolyarov, Gerry Doyle Organizations: North, South, Korea Institute for National Unification, Russian Federal Customs Service, South Korea's Korea Trade Investment Promotion Agency, United, Teikyo University, North Korean, Korean, Kremlin, Korea Institute for Security, South Korea's National Institute for Unification Education, Thomson Locations: SEOUL, Korean, Russia, Ukraine, China, North Korea, Rason, Korea, South Korea’s, Russian, South Korea's Korea, United Nations, Tokyo, South Korean, Pyongyang, Rason's, Soviet, North, South

☆ Stream These 16 Movies Before They Leave Netflix in December
▼ + stars: | 2023-11-29 | by ( Jason Bailey | ) www.nytimes.com time to read: +5 min

‘Gladiator’ (Dec. 31)Stream it here. ‘Kung Fu Panda’ (Dec. 31)Stream it here. ‘Mission: Impossible’ 1- 4 (Dec. 31)Stream them here, here, here and here. ‘Role Models’ (Dec. 31)Stream it here. The raw edge yet soft heart of this wildly funny bad-boy comedy from 2008, and the presence of the frequent leading man Paul Rudd, might lead you to assume it’s the work of Judd Apatow.

Persons: ’, Russell Crowe, Ridley Scott’s, Crowe, Maximus, Commodus, Joaquin Phoenix, Scott, Napoleon, ”, Steven Spielberg, Roy Scheider’s, Brody, Kung, Jack Black, Jackie Chan, David Cross, Dustin Hoffman, James Hong, Angelina Jolie, Randall Duk Kim, Lucy Liu, Ian McShane, Seth Rogen, Christopher McQuarrie, Tom Cruise, John Woo, Brian De Palma’s, Brad Bird, Paul Rudd, Judd Apatow, David Wain, Kerri Kenney, Silver, Joe Lo Truglio, Ken Marino, Rudd, Seann William Scott, J, Thompson, Christopher Mintz Organizations: Netflix Locations: Italy, Phoenix

☆ The top 10 most popular podcasts of 2023, according to Apple
▼ + stars: | 2023-11-29 | by ( Haley Tenore | ) www.businessinsider.com time to read: +8 min

Apple has released a list of the 10 most popular podcasts of 2023. Apple shared a roundup on Tuesday of the most popular podcasts of 2023. But today, we will be focusing on the top 10 podcasts overall, according to Apple. Denise Truscello"Stuff You Should Know" will, according to Apple Podcasts, teach you everything you need to know about science, history, religion, crime, and more. It is the top health and fitness-related podcast on Apple Podcasts and Spotify, according to the podcast's website.

Persons: Apple, —, Josh Clark, Chuck Bryant, Denise Truscello, Clark, Byrant, Shankar Vedantam, Chance Yeh, Andrew Huberman, Mark Zuckerberg, Priscilla Chan, Drew Angerer, Alaina Urquhart, Ash Kelley, Urquhart, Kelley, Glass, Astrid Stawiarz, Ira Glass, Chicago that's, Jason Bateman, Will Arnett, Sean Hayes, Frazer Harrison, Manny Carabel, Amy Sussman, Getty, Ryan Reynolds, Jennifer Aniston, Will Ferrell, Adam Sandler, Gary Hershorn, It's, Michael Barbaro, Sabrina Tavernise, Ashley Flowers, Audiochuck, Brit Prawat Organizations: Apple, Service, SYSK, NPR, The Washington Post, National Public, Public Radio Exchange, Getty, NBC NBC Dateline, NBC, Nielsen Media Research, The New York Times Locations: Stanford, Boston

☆ Asia's first ETF tracking Saudi equities debuts in Hong Kong
▼ + stars: | 2023-11-29 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

Bull statues in front of screens showing Hong Kong stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsHONG KONG, Nov 29 (Reuters) - A new exchange-traded fund (ETF) tracking Saudi equities made its trading debut in Hong Kong on Wednesday, becoming the first product of its kind in Asia amid warming bilateral relations between China and Saudi Arabia. The ETF, called CSOP Saudi Arabia ETF (2830.HK), is managed by Hong Kong-based CSOP Asset Management. "Today is a milestone in our financial cooperation with Saudi Arabia," said Hong Kong Financial Secretary Paul Chan at a launch event. Through the ETF, investors in Hong Kong will be able to trade Saudi stocks including the oil giant Saudi Aramco (2222.SE) and the Saudi National Bank (1180.SE) in Hong Kong dollars or Chinese yuan.

Persons: Tyrone Siu, CSOP, Paul Chan, Yazeed, Humied, PIF, Xie Yu, Sumeet Chatterjee, Christopher Cushing Organizations: REUTERS, Saudi, Saudi Arabia ETF, HK, Management, Public Investment Fund, Hong, Hong Kong Financial, FTSE, Saudi Aramco, Saudi National Bank, Reuters, Hong Kong Stock Exchange, bourse, ETF, People's Bank of China, Saudi Central Bank, Thomson Locations: Hong Kong, Exchange, China, HONG KONG, Asia, Saudi Arabia, Saudi, FTSE Saudi Arabia, Europe, East, Africa, Beijing, Riyadh

☆ Leaked email: Broadcom CEO says the company is reviewing 'strategic alternatives' for two of VMware's businesses
▼ + stars: | 2023-11-29 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +5 min

Broadcom CEO Hock Tan told employees he's reviewing strategic alternatives for two parts of VMware following the acquisition of the cloud software company. Most recently, VMware president Sumit Dhawan became CEO of cybersecurity company Proofpoint. I am very pleased to welcome VMware employees to Broadcom and bring together our engineering-first, innovation-centric teams. We will also continue to support VMware's End-User Computing, led by Shankar Iyer, VP and General Manager, and Carbon Black, led by Jason Rolleston, VP and General Manager, as we review strategic alternatives for these two businesses. As we move forward, we expect there will be growth opportunities for VMware employees within the larger combined company.

Persons: Hock Tan, Tan, CRN, Raghu Raghuram, Krish Prasad, Purnima Padmanabhan, Sanjay Uppal, Umesh Mahajan, Thoma, Sumit Dhawan, •, Shankar Iyer, Jason Rolleston, Mike Gannon, • Regan McGrath, Luigi Freguia, • Sylvain Cazard, Cynthia Loyd, Ricky Cooper, Joan Stone, Mark Nagle, • Bryan Prosek Organizations: Broadcom, VMware, Business, VMware Cloud Foundation, CA Technologies, Thoma Bravo, Symantec, Cyber Security Services, Accenture, HCL Technologies, Broadcom Employees, •, Security, Strategic, Corporate, Asia Pacific, Services

☆ Leaked email shows the top executives leading VMware's edge unit after Broadcom's $69 billion acquisition
▼ + stars: | 2023-11-29 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +1 min

After Broadcom acquisition, VMware will operate with four divisions. A leaked email shows the top executives who will lead one of these divisions, Software-Defined Edge. Broadcom laid off VMware employees this week after closing the deal November 22. After Broadcom closed its $69 billion acquisition of VMware on November 22, it also did some reorganization. Tan also named other top executives who will report to Uppal and help lead the division, according to an email that was viewed by Business Insider.

Persons: Hock Tan, Sanjay Uppal, Tan Organizations: Broadcom, VMware, VMware Cloud Foundation, Business

"Many protesters experienced being part of a civic collective for the first time," said Huang, who fled to Germany in March after narrowly avoiding detention during protests in Shanghai. Reuters was unable to confirm the total number of protesters detained last year, although some were since released. This year, on the weekend anniversary of the protests, there were no demonstrations in Beijing and Shanghai. During last year's Beijing protests, some demonstrators also called for press freedom, democracy and human rights. Some of the protesters that Reuters spoke to, as well as observers, said the events helped raise awareness of how much political power Chinese people actually wielded.

Persons: Huang, Xi, It's, Li, Li Keqiang, I'm, Laurie Chen, Jessie Pang, Casey Hall, Nicoco Chan, Brenda Goh, Tian, Miral Organizations: Reuters, Washington DC, Thomson Locations: BEIJING, HONG KONG, China, Germany, Shanghai, Beijing, New York, London, Tiananmen, Italy, Guangzhou, Hong Kong

☆ Lawrence Hylton photographs Hong Kong’s creatures of the night
▼ + stars: | 2023-11-28 | by ( Arya Jyothi | ) edition.cnn.com time to read: +5 min

Lawrence Hylton Hong Kong is home to more than 1,000 animal species, including this giant shield mantis. Lawrence Hylton Snakes are Hylton's favorite animal to photograph, but getting close enough can be a challenge. Lawrence Hylton Hylton started photographing wildlife at the age of 17. Lawrence Hylton Hong Kong has over 245 species of butterflies including the fish-line silkworm, pictured here. Lawrence Hylton Here, Hylton gets a close-up view of a local stag beetle.

Persons: Lawrence Hylton’s, Hylton, “ I’m, ”, Lawrence Hylton, Lawrence Hylton Hylton, Lawrence Hylton Here, “, ” Hylton, Bosco Chan, WWF Hong Kong, Chan Organizations: CNN, WWF Locations: They’re, Hong Kong, British, China, Hong, Kong, Lawrence Hylton Hong Kong, WWF Hong

☆ The investing world reacts to death of Berkshire legend Charlie Munger
▼ + stars: | 2023-11-28 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Several investors mourned the passing of famed investor Charlie Munger, vice chairman of Warren Buffett's Berkshire Hathaway , on Tuesday. "So sad to hear the news of the passing of Charlie Munger," El-Erian wrote. Mario Gabelli, chairman and CEO of Connecticut-based GAMCO Investors, wrote on Twitter: "Charlie Munger ….a titan has passed …all will miss Charlie." "Charlie Munger helped build an American institution, and through his wisdom and insights, inspired a generation of leaders. "Charlie Munger was a brilliant attorney," Annandale Capital chairman George Seay said Tuesday evening on Yahoo Finance.

Persons: Charlie Munger, Warren Buffett's Berkshire Hathaway, Berkshire Hathaway, Buffett, Munger, Ariel Investments, Charles Bobrinskoy, Mohamed El, PIMCO, Erian, Mario Gabelli, Charlie Munger …, Charlie, Tim Cook, Cook, Stephanie Link, Hightower, Whitney Tilson, Tilson, George Seay, Wesley Chan, Chan, —, Christina Cheddar Berk, Brian Evans, Alex Harring Organizations: Warren, Allianz, Twitter, Apple, Berkshire, Hightower Advisors, Berkshire Hathaway, CNBC, Yahoo Finance, Daily, Costco Locations: Munger, Connecticut, Berkshire, American, California, Annandale, FPV

☆ Foxconn is still running with difficult status quo
▼ + stars: | 2023-11-27 | by ( Chan Ka Sing | ) www.reuters.com time to read: +3 min

HONG KONG, Nov 27 (Reuters Breakingviews) - Terry Gou is not running for Taiwan’s presidency after all. Nonetheless, the $45 billion Apple (AAPL.O) supplier’s continuing push to move production outside of China leaves it firmly on frontlines of rising cross-strait tensions. Foxconn grew into the biggest employer in China, with more than 1 million workers at its peak and a top contract manufacturer for global brands. Foxconn is out of the election spotlight but it still has to grapple with an awkward status quo. CONTEXT NEWSTerry Gou, the billionaire founder of electronics maker Foxconn, announced on Nov. 24 that he will be withdrawing from Taiwan’s presidential election next month.

Persons: Terry Gou, Critics, Foxconn, Una Galani, Thomas Shum Organizations: Reuters, Apple, Democratic Progressive Party, DPP, KMT, Hai Precision Industry, World Trade Organization, Reuters Graphics, China -, Foxconn, Taipei Times, Thomson Locations: HONG KONG, China, Washington, Beijing, Taiwan, Kuomintang, Taipei

☆ Virginia's 'Data Center Alley' residents say an eerie hum is keeping them up at night
▼ + stars: | 2023-11-27 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +9 min

At the beginning of this year, she started hearing an eerie hum that got louder at night. Virginia has had explosive growth in data centers since the early 2000s, when Loudoun County started allowing data centers to be built. Loudoun County residents say the noise started this past winter and gets louder at night when it's cooler. In Loudoun County, residents said they could hear the data center even with their windows closed. Unlike previous data centers, the new ones use so-called free air cooling , designed to leverage lower temperatures to use less electricity than most data centers.

Persons: Stephanie Brookes, Brookes, Les Blomberg, he's, Mike Turner, Ted Lewis, Turner, Eric Lee, Jeff Mach, Mach, Katy Hancock, Hancock, Chris Crosby, Blomberg, it's, Lewis, Arline Bronzaft, Wire Blomberg Organizations: Business, Compass, Pollution, The Washington Post, county's, Supervisors, Loudoun County's, Public, Lehman College Locations: Loudoun County , Virginia, Virginia, Loudoun County, Leesburg, New York, Ashburn, Loudoun, Loudoun County's

☆ Broadcom lays off many VMware employees after closing its $69 billion acquisition of the company
▼ + stars: | 2023-11-27 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +2 min

Broadcom announced it closed its $69 billion acquisition of VMware on November 22. AdvertisementMany VMware employees learned Monday that their positions will be eliminated following Broadcom closing its acquisition of the company. Employees whose positions were eliminated received an email on Monday viewed by Business Insider that said, "Broadcom recently completed its acquisition of VMware. Some VMware employees speculated that Broadcom could spin out units like the security unit. Some VMware employees said they worried about a culture clash with Broadcom, especially as Broadcom requires returning to the office.

Persons: — Organizations: VMware, Broadcom, Service, UK . Employees, Business, BI Locations: China

☆ Iron ore gains on China’s property debt-rejig pain
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

A steel worker of ThyssenKrupp stands amid sparks of raw iron coming from a blast furnace at a ThyssenKrupp steel factory in Duisburg, western Germany, January 30, 2020. The benchmark December iron ore futures contract on the Singapore Exchange is up 10% this month at $133.45 a ton on hopes Beijing will kickstart the property sector. Anticipating spiking demand from the world’s second largest economy, Citi analysts on Tuesday upgraded their forecast iron ore price to $140 per ton. The optimism on iron ore could further grow if Beijing rolls out more structural reforms, such as the provision of social housing. China’s demand for steel in electric vehicles and green infrastructure has already kept average prices high despite the property slump.

Persons: Wolfgang Rattay, Chan Ka, Una Galani, Thomas Shum Organizations: REUTERS, Reuters, Singapore Exchange, Citi, Hong Kong, HK, X, Thomson Locations: ThyssenKrupp, Duisburg, Germany, HONG KONG, China, Beijing, HK, Rome

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