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☆ Raytheon, Lockheed executives banned from China
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: 1 min

[1/2] Chinese and U.S. flags flutter outside a company building in Shanghai, China April 14, 2021. REUTERS/Aly SongBEIJING, April 18 (Reuters) - China has banned senior executives of Raytheon Missiles & Defense and Lockheed Martin Corp (LMT.N) from entering, working, staying and residing in the country since Feb. 16, the Ministry of Commerce said on Tuesday. Raytheon and Lockheed Martin have been involved in arms sales to Taiwan for a long time, the ministry said. China banned the two U.S. firms from carrying out import and export activities with Chinese enterprises in a bid to prevent Chinese products from being used in their military businesses. Raytheon Missiles & Defense is a unit of Raytheon Technologies Corp (RTX.N).

☆ Analysis: China’s Xpeng takes cues from Tesla for its new EV platform
▼ + stars: | 2023-04-18 | by ( Paul Lienert | ) www.reuters.com time to read: +3 min

[1/2] He Xiaopeng, the co-founder, chairman and CEO of XPeng Motors attends a news conference ahead of the Shanghai Auto Show, in Shanghai, China April 16, 2023. "It's obvious the design of the (G6) came from the Model Y," industry analyst Sandy Munro told Reuters. Xpeng's simplified vehicle platform design - in effect, a three-piece frame that is both flexible and scalable - saves on parts, tooling, development and assembly time, and appears to have been lifted from Tesla, according to Munro. Such a platform has the potential to give Tesla, Xpeng and other automakers considering this approach a new weapon to help restore margins hit by recent price wars in China and other markets. Reporting by Paul Lienert in Detroit, Editing by Ben Klayman and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ VW, Rivian, Nissan, BMW lose access to US EV tax credits
▼ + stars: | 2023-04-17 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Aly Song/File PhotoApril 17 (Reuters) - The U.S. Treasury said on Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new rules for battery sourcing. VW said it was "fairly optimistic" the ID.4 SUV will qualify for the tax credit. Treasury also disclosed General Motors Co (GM.N) electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVs would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Treasury in December said EVs ineligible for the $7,500 consumer tax credit could qualify for a commercial leasing $7,500 credit.

☆ VW, Rivian, Nissan, BMW lose access to U.S. EV tax credits
▼ + stars: | 2023-04-17 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Aly Song/File PhotoApril 17 (Reuters) - The U.S. Treasury said Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new battery sourcing rules. Treasury also disclosed General Motors (GM.N) electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVS would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Earlier, Ford Motor (F.N) and Chrysler-parent Stellantis (STLAM.MI) said most of their electric and PHEV models would see tax credits halved to $3,750 on April 18. Treasury in December said EVs ineligible for the $7,500 consumer tax credit could qualify for a commercial leasing $7,500 credit.

☆ Angry Tesla Shanghai workers vent to Elon Musk over bonus cuts
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +5 min

[1/3] Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. The situation marks a rare outburst of discontent at Tesla's Shanghai plant, whose workers Musk praised last year for burning "the 3 a.m. oil" to keep operations running during the city's two-month COVID lockdown. Some took to Twitter, owned by Musk and blocked in China, to tweet to the billionaire, his mother Maye Musk, and Tesla. "Please pay attention to the performance (bonus) of frontline workers at Tesla's Shanghai factory being arbitrarily deducted," said a person with the handle @AFeiywu on Twitter in a tweet directed at Elon Musk and Tesla's Asia unit. She recently completed a two-week tour in the country during which she visited the Shanghai factory and promoted her memoir.

☆ Tesla Shanghai factory workers appeal to Elon Musk on bonus cuts
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +4 min

[1/3] Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. "Please pay attention to the performance (bonus) of frontline workers at Tesla's Shanghai factory being arbitrarily deducted," said a person with the handle @AFeiywu on Twitter in a tweet directed at Elon Musk and Tesla's Asia unit. The workers said Tesla supervisors mentioned a "safety incident" when they were asked about reasons for the bonus cut. Several online posts claimed workers at the Shanghai plant were being unfairly punished for an incident this year at the factory where one worker died in February. According to a report published by the local Pudong government on April 12, there was a mechanical accident in the welding workshop at Tesla's Shanghai plant on Feb. 4 that killed one worker.

☆ Tesla Shanghai factory workers appeal to Elon Musk after being told of bonus cut
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +1 min

[1/3] Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. REUTERS/Aly SongCompanies Tesla Inc FollowSHANGHAI, April 17 (Reuters) - Workers from Tesla's (TSLA.O) Shanghai factory are taking to social media to appeal to Elon Musk and the Chinese public after being informed over the weekend about planned cuts to their performance bonuses, according to online posts and workers. Some took to Twitter, owned by Musk and blocked in China, to tweet to Elon Musk, his mother Maye Musk, and Tesla's accounts. "Please pay attention to the performance (bonus) of frontline workers at Tesla's Shanghai factory being arbitrarily deducted," said one post on Twitter in a reply to a tweet from Musk about a SpaceX launch. Tesla and Elon Musk did not immediately respond to requests for comment.

GDP growth last year slumped to one of its worst in nearly half a century due to COVID restrictions. "The strong export growth in March also likely helped to boost GDP growth in Q1." China's rebound has so far remained uneven as its investment-fuelled growth of the past to one now reliant on consumption faces challenges. Consumption, services and infrastructure spending have perked up but factory output has lagged amid weak global growth, while slowing prices and surging bank savings are raising doubts about demand. The government has set a modest GDP growth target of around 5% for this year, after badly missing the 2022 goal.

☆ China's Xpeng aims to cut costs with new vehicle manufacturing platform
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +2 min

[1/5] He Xiaopeng, the co-founder, chairman and CEO of XPeng Motors attends a news conference ahead of the Shanghai Auto Show, in Shanghai, China April 16, 2023. REUTERS/Aly SongSHANGHAI, April 16 (Reuters) - China's electric vehicle (EV) maker Xpeng (9868.HK) unveiled on Sunday a new platform it developed in-house for making vehicles, which it said will reduce the development and manufacturing costs for its company's upcoming models. He said that these cost reductions would give Xpeng an edge against its rivals in an increasingly competitive market. Xpeng will build its G6 SUV, which will debut at the Shanghai auto show starting on Tuesday, as the first model to be built on the SEPA 2.0, according to the company. Xpeng's rival Tesla (TSLA.O) uses massive casting machines, also known as gigapresses, to make large single pieces of vehicle underbodies.

☆ How to Get a Mortgage
▼ + stars: | 2023-04-15 | by ( ) www.wsj.com time to read: +15 min

“Houses cost more than the money invested to purchase them,” says Brian Rugg, chief credit officer at mortgage lender loanDepot. Research mortgage loan types and lendersThere are two basic categories of mortgage: private and government backed. “Look at customer reviews from past borrowers,” says Alex Shekhtman, a mortgage broker and founder of LBC Mortgage in New York. “Mortgage lenders use appraisals to protect their investment in the home,” says Liz Lopez, a real-estate agent at RelatedISG Realty. Since mortgage payments are made in arrears—meaning you pay on the first of the month for the previous month’s charges—you won’t owe a mortgage payment until the start of the second month following your closing date.

☆ China's first-quarter GDP growth seen rebounding to 4.0%, 2023 rate seen at 5.4% - Reuters poll
▼ + stars: | 2023-04-14 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

That would be the fastest growth since the first quarter of last year. The government has set a modest target for economic growth of around 5% for this year, after badly missing the 2022 goal. The government is due to release first quarter GDP data, along with March activity data, at 0200 GMT on April 18. On a quarterly basis, the economy is forecast to grow 2.2% in January-March, compared with no change in October-December, the poll showed. “We need to maintain the stability and continuity of macro policies to consolidate the economic recovery,” said Wen Bin, chief economist at China Minsheng Bank.

☆ Tonal Founder Aly Orady Steps Down as CEO
▼ + stars: | 2023-04-11 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/tonal-founder-aly-orady-steps-down-as-ceo-26c2e023

☆ Shares of China's SenseTime jump after it unveils new AI products
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of SenseTime is seen at SenseTime office, in Shanghai, China December 13, 2021. REUTERS/Aly Song/File PhotoHONG KONG, April 11 (Reuters) - Shares of Chinese artificial intelligence (AI) company SenseTime (0020.HK) surged as much as 11% on Tuesday, a day after it unveiled a series of new AI-powered products as it joins a global race to dominate the sector. China's Alibaba Group Holdings (9988.HK) and Japan's Softbank Group Corp (9984.T) are both invested in the Chinese AI company. SenseTime's shares rose to as high HK$3.70, up 11.1% from its previous close but below its initial public offering price of HK$3.85 in December 2021. Alibaba's shares rose as much as 3.8%, while Softbank climbed 0.5%.

☆ Australia and New Zealand mark 100-day countdown to Women's World Cup
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +4 min

"But this women's tournament is not just about football, it's about celebrating women's sports and women's empowerment all over the world." "Currently, only 40% of football facilities nationwide are classified as female-friendly," Football Australia said in a statement. 'UNITY BEAT'New Zealand is staging its third global sporting event in less than two years, having hosted the women's Rugby World Cup and women's Cricket World Cup last year. Rugby World Cup organisers hailed record crowds as New Zealand's Black Ferns swept to the title last November. According to a FIFA report, some 1.12 billion viewers tuned into the 2019 Women's World Cup in France where the U.S. won their fourth title and their second in succession.

☆ China's SenseTime unveils new AI products and chatbot
▼ + stars: | 2023-04-10 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

[1/2] The logo of SenseTime is seen at SenseTime office, in Shanghai, China December 13, 2021. REUTERS/Aly SongHONG KONG, April 10 (Reuters) - China's SenseTime (0020.HK) unveiled on Monday a slew of new artificial intelligence-powered products including a chatbot and image generator, joining a global race ignited by the popularity of OpenAI's ChatGPT. Big models are typically trained on massive datasets using powerful hardware. Global interest in AI technology has soared since the debut in late 2022 of ChatGPT, a popular chat bot developed by U.S. company OpenAI which uses generative AI technology that learns from past data to create new text, images or computer code. "We have been focusing on developing our big models.

☆ Women's soccer expands into the Bay Area with a new team and record investment
▼ + stars: | 2023-04-04 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

"Sixth Street has the incredible know-how, experience and bandwidth to devote to the league," NWSL Commissioner Jessica Berman told CNBC. Waxman, a former Goldman Sachs executive, founded Sixth Street in 2009, and the firm currently has more than $65 billion in assets under management. This is the company's first foray into women's sports, following investments in Spanish soccer teams Real Madrid and FC Barcelona and the NBA's San Antonio Spurs. The four former national team players will be represented on the board and will work alongside Sixth Street in setting the team's strategic direction, he said. Sandberg will partner with the club to create leadership programs that empower women and girls in underserved Bay Area communities.

☆ China's Nio opens trial for high-speed EV battery swapping stations
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Aly SongSHANGHAI, March 28 (Reuters) - Chinese electric vehicle (EV) maker Nio Inc (9866.HK) began trial operation on Tuesday of faster, more efficient battery swapping stations in China in its push to make battery swapping a viable alternative to rival EV makers' rapid-charging technology. Tesla's (TSLA.O) rapid-charging Supercharger allows EV users to top up vehicles to a range of 200 miles in 15 minutes. Rival Tesla has dismissed battery swapping as "riddled with problems and not suitable for widescale use". Nio, which has set a target of 2,300 battery swapping stations globally by year-end, had 1,323 in operation as of March 23, Shen said. It aims for 900 of the latest power swap stations to be operating this year, he added.

☆ Inmates in North Korean prisons are raped, beaten, and starved, watchdog finds. Some eat roaches and rats just to survive.
▼ + stars: | 2023-03-24 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

A new watchdog report details widespread abuse and torture within North Korea's penal system. The report focuses heavily on the specific cases of three victims who were jailed for trying to leave North Korea, or for helping others leave the country. It added that this was one of 987 such incidents documented across the penal system. A North Korean soldier stands on the bank of Yalu River, near the North Korean town of Sinuiju, opposite the Chinese border city of Dandong, April 12, 2013. Korea Future's findings are in line with forms of abuse that are cited in a recent UN report detailing the human rights situation in North Korea.

☆ WHO, advisors urge China to release all COVID-related data after new research
▼ + stars: | 2023-03-18 | by ( ) www.reuters.com time to read: +3 min

Access to the information was subsequently restricted “apparently to allow further data updates” by the Chinese Center for Disease Control and Prevention (CDC). WHO officials discussed the matter with Chinese colleagues, who explained that the new data were intended to be used to update a preprint study from 2022. "We continue to call on China to be transparent in sharing data, and to conduct the necessary investigations and share the results," he said. The Huanan Seafood Wholesale Market in Wuhan was shut down by Chinese authorities after the novel coronavirus emerged in the city in late 2019. The market has since been a focus of study of whether the virus had infected several other species before jumping to humans.

☆ China's property sector draws closer to exit from protracted slump
▼ + stars: | 2023-03-15 | by ( Liangping Gao | Ryan Woo | ) www.reuters.com time to read: +3 min

BEIJING (Reuters) -China’s embattled property sector made new progress in its climb out of a months-long slump as official data on Wednesday showed much narrower declines in home sales, developer investment and construction starts in January-February. Property investment by developers fell 5.7% in January-February, improving from a 12% slump in December and a 10% decline for the entire 2022. Analysts expect property sales to be the first indicator to turn positive soon and see property investment rebounding in the second half of 2023. “The figures are a good start to the recovery of the property market for 2023, and will further boost confidence,” said Yan Yuejin, analyst at the E-house China Research and Development Institution in Shanghai. At the beginning of the annual meeting of China’s parliament this month, the government made guarding against risks to top property developers one of its top priorities this year, but added that it would prevent disorderly expansion by developers.

Cancel for any reason insurance is a type of travel insurance rider. What is cancel for any reason travel insurance? How much does cancel for any reason travel insurance cost? Travel Insured International Generali Global Assistance Seven Corners Cost of travel insurance $246 $262.29 $146 Additional cost of cancel for any reason insurance $108.24 $131.15 $61.32 Total cost of insurance (regular + cancel for any reason) $354.24 $393.44 $207.32 Policy cost increase as a percentage 44% 50% 42%Important: Most travel insurance companies offer free quotes on the company websites. What is the average cost of cancel for any reason travel insurance?

☆ Chinese EV comptition hots up as BYD offers discounts
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] BYD electric vehicles (EV) are displayed at a car dealership in Shanghai, China, February 3, 2023. The discounts will be for buyers who place orders for the Song Plus and Seal models between March 10 and March 31, the company said on its social media account. In return for an 88 yuan ($12.64) deposit, buyers for a Seal EV can get 8,888 yuan deducted from the price, while for Song Plus models, the discount is 6,888 yuan. It sold 34,621 Song Plus SUVs and 14,372 Seal sedans in the first two months, according to China Passenger Car Association. The car association data showed Tesla (TSLA.O) sold 39,710 Model Ys and 21,056 Model 3s in January and February combined.

☆ Will Home Prices Drop in 2023?
▼ + stars: | 2023-03-03 | by ( ) www.wsj.com time to read: +5 min

As of January, prices were down 13% from that June high, according to the National Association of Realtors. Will home prices drop in 2023? The University of California San Diego, for example, predicts prices will drop 5% nationally and as much as 18% in some cities. As a result, the U.S. housing market has been short on for-sale listings for more than a decade. “This is the easiest way to find out if you got a good price on your home in comparison to what else is on the market.”Finally, understand your finances.

[1/5] Elderly visitors enjoy the sunshine, at a nursing home of Lendlease's Ardor Gardens in Shanghai, China February 27, 2023. Lim says "stigma" around retirement homes in China is quickly disappearing. About 4% of people aged 65 and over in Britain live in retirement homes, according to information service Lottie. Ding Hui, China managing director at Australian real estate firm Lendlease (LLC.AX), expects demand for retirement homes to rise sharply in the next five to 10 years. Government-run nursing homes with basic facilities in Shanghai and Beijing are much cheaper, at about 2,000 yuan ($290) a month.

☆ Alibaba and Ant venture to launch RISC-V chips for payments
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +2 min

The development comes as Chinese companies continue to invest heavily in chips, in the wake of U.S. export restrictions targeting China's semiconductor sector. Alibaba is one of several Chinese tech companies to pour research and development resources into RISC-V, an alternate chip architecture. The open-source nature of RISC-V's design in theory makes it less susceptible to export restrictions. In 2019, Washington imposed export restrictions on China's Huawei Technologies Co Ltd (HWT.UL), which threw the company's access to ARM designs in limbo. In late 2022, the United States launched similar export restrictions on Chinese chip fabs and research labs.

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