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☆ Chinese bank ICBC hit by ransomware attack
▼ + stars: | 2023-11-10 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —A US unit of the Industrial and Commercial Bank of China (ICBC) was hit by a ransomware attack this week that disrupted some of its systems, reportedly hitting liquidity in US Treasuries which may have contributed to a brief market sell-off on Thursday. ICBC Financial Services, which is headquartered in New York, said in a statement that the attack, which happened on Wednesday, had been reported to law enforcement. “We successfully cleared US Treasury trades executed Wednesday … and [repurchase agreements] financing trades done on Thursday,” it said in the statement. The Financial Times and Reuters quoted some market participants as saying trades going through ICBC were disrupted, which affected market liquidity. It’s unclear whether the incident contributed to the weak 30-year bond auction conducted by the US Treasury Thursday.

Persons: “, ”, Wang Wenbin, Ipek Ozkardeskaya, Joe Biden, CNN’s Wayne Chang Organizations: Hong Kong CNN, Industrial, Commercial Bank of China, ICBC Financial Services, Treasury, York Branch, State, P, China’s, Ministry, Financial Times, Reuters, US Treasury, Swissquote Bank, Dow, Nasdaq, US Treasury Department Locations: China, Hong Kong, New York, Beijing, York, ICBC, Treasuries, Japan

New York is the $1.35 trillion fund's only office outside mainland China besides Hong Kong. CIC asked Bai Xiaoqing, who was in charge of some of its private equity investments from Beijing, to move to New York for the North America head role, the sources said, requesting anonymity because the move has not been publicly announced. U.S. authorities have been especially suspicious of investments originating from entities close to China's communist government, like CIC. CIC is also a significant investor in U.S. private equity funds, as so-called alternative assets comprise almost half of its portfolio. One of its most prominent investments has been a $2.5 billion Goldman Sachs Group Inc (GS.N) private equity fund aimed at investing in companies that can benefit from closer U.S.-China ties.

Persons: Bai Xiaoqing, Zhang Hong, Bai, Zhang, Peng Chun, Larry Fink, Milken, Echo Wang, Roxanne Liu, Kane Wu, Greg Roumeliotis, Edwina Gibbs Organizations: China Investment Corp, North America, CIC, Foreign Investment, American Enterprise Institute, Public, Goldman Sachs Group Inc, China -, China - U.S . Industrial Cooperation Fund, Britain, BlackRock Inc, BlackRock, China's Ministry of Finance, Industrial, Commercial Bank of China, U.S . Treasury, Thomson Locations: North, New York, China, Hong Kong, Washington, Beijing, United States, U.S, China - U.S, BlackRock

☆ U.S. Seeks to Resume Military Dialogue With Beijing
▼ + stars: | 2023-11-10 | by ( Helene Cooper | More About Helene Cooper | ) www.nytimes.com time to read: +1 min

President Biden’s top military adviser has told China that the United States is open to resuming military-to-military communication that Beijing suspended last year to protest then-Speaker Nancy Pelosi’s visit to Taiwan. The chairman of the Joint Chiefs of Staff, Gen. Charles Q. U.S. officials are hoping the two leaders will announce a resumption of military dialogue there. General Brown, who is traveling in the region this week, said that the reopening of the communications channel was important to prevent misunderstandings that could cascade into crises. “Just to ensure that there’s no miscalculation in that dialogue, to me, is hugely important,” he said during a briefing with reporters.

Persons: Biden’s, Nancy Pelosi’s, Charles Q, Brown Jr, Biden, Liu Zhenli, “, ” General Brown, China’s, Xi Jinping, General Brown, ” Organizations: Joint Chiefs of Staff, Economic Cooperation Locations: China, United States, Beijing, Taiwan, Asia

She added that she plans to return to China next year after making her first trip there as treasury secretary in July. Biden and Xi will meet Wednesday on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco, the first engagement in a year between the leaders of the world's two biggest economies. A Treasury Department readout of the meetings said both sides agreed to increase communications on economic issues and emphasized a commitment not to break economic ties. “Our mutual desire, both China and the United States, is to create a level playing field and ongoing, meaningful and mutually beneficial economic relations,” Yellen said. “That is our main focus.”Yellen has met with a host of Chinese officials throughout this year.

Persons: Janet Yellen, ”, Joe Biden, Xi Jinping, Yellen, Lifeng, “, Biden, Xi, ” Yellen, Liu, ___ Hussein Organizations: FRANCISCO, —, Treasury, Economic Cooperation Locations: China, Asia, San Francisco, United States, Zurich, Washington

TOKYO, Nov 10 (Reuters) - The U.S. military's top general expressed optimism on Friday for a potential improvement in military-to-military ties with China and sent an introductory letter to his Chinese counterpart saying he was open to meeting. Air Force General Charles Q. But China's General Liu Zhenli is the Chief of the Joint Staff Department of the Central Military Commission (CMC), the military body responsible for China's combat operations and planning. Brown said he sent a standard introductory letter that explained, "I'm in the position and willing to open a line of communication." "I also believe that taking Taiwan by force and doing a major amphibious operation is not an easy feat."

Persons: Charles Q, Brown, Xi Jinping, Joe Biden, Xi, Liu Zhenli, William Burns, People's, Liu, General Li Shangfu, Li, Nancy Pelosi, Phil Stewart, Gerry Doyle, Jon Boyle Organizations: Air Force, Joint Chiefs, Staff, Pentagon, Joint Staff Department of, Central Military Commission, Beijing, U.S, CIA, U.S . Air Force, People's Liberation Army, PLA, People's Liberation Army Air, Reuters, Russia, ., CMC, Thomson Locations: TOKYO, China, Taiwan, Japan, U.S, Beijing, Tokyo, TAIWAN Washington, South China, Asia, Pacific, Seoul, Taipei

And tensions between the countries heightened earlier this year when a Chinese surveillance balloon was spotted traveling over sensitive U.S. airspace. The U.S. military shot down the balloon off the Carolina coast after it traversed sensitive military sites across North America. With all of the tensions, the two nations have worked to smooth economic ties. Xi similarly met with Blinken in June when the secretary of state traveled to Beijing for talks with Wang. In January, she had her first face-to-face meeting with former Vice Premier Liu He in Zurich.

Persons: Janet Yellen, Joe Biden, Xi Jinping, Nicholas Szechenyi, ”, Biden, Shou Zi Chew, Wang Yi, Antony Blinken, Jake Sullivan, Xi, Wang, Yellen, Liu, “, Colleen Long, Aamer Madhani Organizations: WASHINGTON, —, Economic Cooperation, Center for Strategic, International Studies, APEC, Chinese Foreign, White, U.S, White House, Blinken, U.S . Treasury Department, China’s Ministry of Finance, Associated Press Locations: San Francisco, Asia, United States, China, U.S, Carolina, North America, Washington, Beijing, Zurich

☆ Qatar wealth fund eyeing investment opportunities in China's retail, tech sectors
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Nov 9 (Reuters) - Qatar's sovereign wealth fund Qatar Investment Authority is examining opportunities to invest in China's retail, healthcare, tech and logistics sectors, said Abdulla Al-Kuwari, head of the fund's unit Qatar Investment Authority Advisory (Asia Pacific). Those opportunities could involve public and private companies, Al-Kuwari said on Thursday during the Caixin Summit in Beijing. Chinese funds are also seeking new capital sources in the Middle East, as headwinds including diplomatic tensions drive many U.S. investors out of the country. Several China equity funds, including hedge funds and mutual funds, have told Reuters they visited the Middle East this year to raise money. Reporting by Roxanne Liu and Kane Wu; Editing by Muralikumar Anantharaman and Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Abdulla Al, Kuwari, LSEG, Roxanne Liu, Kane Wu, Muralikumar Anantharaman, Michael Perry Organizations: Qatar Investment Authority, Qatar Investment Authority Advisory, Asia, Al, Buyers, Reuters, Thomson Locations: BEIJING, Qatar, Beijing . Middle East, China, Saudi Arabia

Hollywood jumped into planning mode Thursday at the news of a tentative agreement between striking actors and the major entertainment companies. Just hours after the tentative agreement was announced, “The Marvels” star Iman Vellani was already being offered to press for interviews. The Walt Disney Co. movie, which cost over $200 million to produce, opens this weekend with showtimes starting as early as Thursday afternoon. Searchlight Pictures also started actively planning things for Michael Fassbender, who stars in Taika Waititi's “Next Goal Wins,” out next week. Brunson’s writing team had already been back in the room, but the strike’s suspension clears the way for filming.

Persons: Hollywood, what's, Iman Vellani, Michael Fassbender, ”, Timothée Chalamet, Wonka ”, Jason Momoa, publicists, Joe Biden, ” Biden, “, they’ve, Gavin Newsom, Simu Liu, “ Barbie, ” Lui, “ Bravo, ” Albert Brooks, Rob Reiner, “ Albert Brooks, Max, ” Brooks, ” Octavia Spencer, ” “ Abbott, Quinta Brunson, “ we’re, Justine Bateman, Priscilla ”, “ Ferrari, Bradley Cooper’s Leonard Bernstein, “ Maestro, Carey Mulligan, Emma Stone, Mark Ruffalo, Jeffrey Wright, Ridley Scott’s “ Napoleon, Joaquin Phoenix, Martin Scorsese’s, Leonardo DiCaprio, Lily Gladstone, Robert DeNiro, Alexander Payne’s “, Paul Giamatti, Annette Bening, Jodie Foster Organizations: Walt Disney Co, showtimes, Searchlight Pictures, Screen Actors, American Federation of Television, Radio Artists, “ SAG, SAG, HBO Locations: California, Venice

☆ Scientists create chimeric monkey with two sets of DNA
▼ + stars: | 2023-11-09 | by ( Katie Hunt | ) edition.cnn.com time to read: +7 min

CNN —Scientists based in China have created a monkey chimera with two sets of DNA, experimental work they say could ultimately benefit medical research and the conservation of endangered species. It’s the world’s first live birth of a primate chimera created with stem cells, the researchers said. Scientists have created mouse embryos that are part human, and in 2021, scientists reported that they had grown human-monkey chimeric embryos. In September, researchers reported that they had grown kidneys containing mostly human cells inside pig embryos. Then they selected a subset of cells to inject into genetically distinct 4- to 5-day-old embryos from the same monkey species.

Persons: —, ”, Miguel Esteban, chimeras, Zhen Liu, Liu, Jun Wu, hadn’t, Wu wasn’t, Jacob Hanna, ” Hanna, Penny Hawkins, “ Organizations: CNN —, Cell, Guangzhou Institute of Biomedicine, Chinese Academy of Sciences, Research, University of Texas Southwestern Medical Center, Weizmann Institute of Science, Royal Society for, National Academies of Sciences, Engineering, Medicine, Covid Locations: China, Health, Research Hangzhou, Israel, United States

☆ Janet Yellen to host China’s top economic official ahead of expected Biden-Xi talks in San Francisco
▼ + stars: | 2023-11-09 | by ( Bryan Mena | Juliana Liu | ) edition.cnn.com time to read: +5 min

Yellen’s talks with China’s new economic tsar will set the stage for the high-stakes potential meeting expected between US President Joe Biden and Chinese President Xi Jinping next week during the Asia-Pacific Economic Cooperation forum in San Francisco. The United States is the host for this year’s summit, which is an annual gathering of top leaders in government and business of the 21 economies in the Pacific Rim. The United States is the host for this year’s summit, which is an annual gathering of top leaders in government and business of the 21 economies in the Pacific Rim. US and Chinese officials are seeking to shore up diplomatic ties and cooperation on economic issues. The International Monetary Fund recently upgraded its forecast for China’s economic growth based on Beijing’s policies aimed at propping up the country’s ailing property sector.

Persons: Janet Yellen, Lifeng, Yellen’s, Joe Biden, Xi Jinping, Antony Blinken, John Kerry, Gina Raimondo, Wang Yi, “, Biden, Xi, ”, Mattie Bekink, Yellen, ” Yellen Organizations: Hong Kong CNN, Economic Cooperation, Washington, Economist Intelligence, Network, Treasury Department, Biden, CNN, Monetary Fund Locations: China, Washington, Hong Kong, Asia, San Francisco, United States, Rim, Beijing, Shanghai, decouple

☆ The most overrated job interview advice, says lawyer-turned-recruiter: It's 'a little creepy'
▼ + stars: | 2023-11-09 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +1 min

If you're preparing for an upcoming job interview, one thing you can nix from your prep work is doing extensive research to find a personal connection with your interviewer. Trying to flatter or relate to the interviewer based on shared experiences, like where they went to school or their previous employer, is one of the most overrated pieces of job-interview advice, according to Natalie Norfus, a George Washington University-trained lawyer turned recruiter who's interviewed hundreds. "When people say, 'make sure you look up everything about the person you're interviewing with,' I always thought that was a little creepy," Norfus tells CNBC Make It. She remembers getting that advice as a law student interviewing for jobs while in school, "and it always seemed like such an odd thing to be like, 'Yeah, I see you went to GW and I also went to GW.' "I don't think it's important that you need to show someone that you researched them," she adds.

Persons: nix, Natalie Norfus, who's Organizations: George Washington University, CNBC

☆ Rates will come down by the middle of 2024, global head of Citi Private Bank says
▼ + stars: | 2023-11-08 | 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 EmailRates will come down by the middle of 2024, global head of Citi Private Bank saysIda Liu, global head of Citi Private Bank, discusses the opportunities for investors in fixed income, equities and private equity allocations, and explains why she thinks markets will rebound next year.

Persons: Ida Liu Organizations: Citi Private Bank

☆ Private Schools Rethink China Future After Flunking Growth Test
▼ + stars: | 2023-11-07 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +6 min

Dozens of international and private schools in China are closing or merging, industry executives said, weighed down by tighter regulation, a slowing economy and dwindling foreign student numbers. Dulwich College operates nine schools in China including bilingual schools catering to Chinese nationals that have been hit hardest by regulatory changes. Strategic plans for growth of its high schools in China were "scaled back in light of changing government regulations", Dulwich said in its 2022 annual report. Authorities have also moved to control the number of private schools. Dozens of schools, from kindergartens to high schools, have shut or stalled in the past two years.

Persons: Farah Master, Kane Wu, Julian Fisher, Fisher, Dulwich, Xi, It's, Frank Feng, Jimmy Chin, Nicholas Burns, Mathias Boyer, Casey, Roxanne Liu, Dorothy Kam, Muralikumar Anantharaman Organizations: Reuters, Dulwich College, Venture Education, Strategic, Education, Motion, Dulwich, British, Authorities, Dulwich's, Victoria Kid House, Western International School of, Everpine, Xi'an Jiaotong University, University of Science, Technology of, International School of Beijing, Casey Hall Locations: Kane Wu HONG KONG, British, China, Asia, China's, Beijing, Dulwich, Singapore, South Korea, U.S, Britain, Canada, Shanghai, Lucton, Greater Bay Area, Shenzhen, Eton, Guangzhou, Western International School of Shanghai, Xi'an, Technology of China, Anhui, Hong Kong

☆ How Huawei plans to rival Nvidia in the AI chip business
▼ + stars: | 2023-11-07 | by ( Josh Ye | ) www.reuters.com time to read: +4 min

Better known globally for its telecoms and smartphones businesses, Huawei has for the past four years been building an AI chip line. Here is what we know about its Ascend AI chip series, and its main product to rival Nvidia's A100 chip, the 910B. WHY AND HOW DID HUAWEI ENTER THE AI CHIP BUSINESS? Baidu ordered 1,600 of Huawei 910B chips for 200 servers in August, one source told Reuters. Analysts have estimated China's AI chip market to be worth $7 billion and grabbing market share from Nvidia could mark a win for Huawei against the United States.

Persons: Benoit Tessier, Nvidia, CANN, Liu Qingfeng, iFlyTek, Jiang Tao, Baidu, Meng Wanzhou, Josh Ye, Brenda Goh Organizations: Huawei Technologies, Viva Technology, Porte de, REUTERS, Nvidia, Huawei, Baidu, HK, HUAWEI, Reuters, Analysts, CHINA, Thomson Locations: Porte, Paris, France, HONG KONG, China, United States

☆ For TikTok, He Asks You to Talk About Your Rolex or Patek
▼ + stars: | 2023-11-07 | by ( Ming Liu | ) www.nytimes.com time to read: +1 min

He now makes his living as a dealer; his videos are not sponsored by watch brands or industry organizations, but he does benefit from TikTok’s Creator Fund, which pays makers based on criteria such as views and engagement. Mr. Nouveau said he was inspired to join TikTok after seeing the success of men’s fashion influencers. He stayed off camera for his first video, which, in 56 seconds, featured a man talking about his 1968 Rolex Day-Date. But by his third post, Mr. Nouveau decided to go on camera. “Quickly I realized that while the ‘Watch Spotting’ was cool, there was an audience who was curious about collectability.”The age of his followers, he said, also was an eye-opener: “Suddenly, all these kids aged 16 to 30 were asking me, ‘Where do I buy vintage watches?’, ‘How do I find a good dealer?’, ‘My grandfather left me these 12 Patek Philippes — what do I do with them?’ An entire generation of young people, the ones that make up like most of the TikTok audience, were being ignored by the vintage watch community.”(According to the market research firm GWI, TikTok is the fastest growing platform worldwide among Gen Zers — except in China, where the domestic version, called Douyin, takes the crown — even though the oldest Gen Zers top out at 25 years old, and the average age of TikTok’s users is 34.)

Persons: Nouveau, “ Quickly, ‘, Zers —, Zers Locations: China

☆ Extreme Weather May Be Displacing Animals, Too, a New Study Suggests
▼ + stars: | 2023-11-07 | by ( Asher Elbein | ) www.nytimes.com time to read: +1 min

A new analysis published this week suggests that extreme weather linked to climate change might be much harder on native species than on nonnative ones. As the planet warms, extreme weather events — heat waves, cold snaps, droughts and floods — are becoming more common and destructive. The new paper, published on Monday in the journal Nature Ecology & Evolution by a team from the Chinese Academy of Sciences, suggests that these sudden, violent changes in conditions could be helping to fundamentally reshape ecosystems. In a statement, the team said that research on the impacts of extreme weather on ecosystems, while still in its early stages, was “critically important” to our ability to understand the effects of global warming on biodiversity. The researchers, led by Xuan Liu, an ecologist at the Academy of Sciences, analyzed 443 studies that examined the responses of 1,852 native and 187 nonnative species — from land, freshwater and marine habitats — to extreme weather.

Persons: Xuan Liu Organizations: Chinese Academy of Sciences, Academy of Sciences

☆ The top 3 companies with the happiest workers have this one thing in common
▼ + stars: | 2023-11-07 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +4 min

Another big boost to your workplace happiness may be how well you get along with your colleagues. Having great co-workers was a common theme among the top three companies with the happiest employees, according to the latest ranking from Comparably, an employee reviews site. 3 Uber, one employee writes that "what make me happiest at work is the people." Notably missing from the company list are many tech giants including Google, Meta and Microsoft, which continued their descent from previous years and fell off the top 100 happiest companies list in 2023. Smaller organizations that top Comparably's happiest companies, meanwhile, are "able to get and act on feedback very quickly and be more adaptable to what their employees are saying," Herring adds.

Persons: Chad Herring, Herring, that's, Warren Buffett Organizations: Employees, Boston Consulting, Google, Meta, Microsoft Locations: California

Dozens of international and private schools in China are closing or merging, industry executives said, weighed down by tighter regulation, a slowing economy and dwindling foreign student numbers. A rapid expansion prior to the COVID-19 pandemic drove a surge of privately run bilingual schools in China offering a western exam curriculum. Dulwich College operates nine schools in China including bilingual schools catering to Chinese nationals that have been hit hardest by regulatory changes. It mandated that Chinese compulsory education be taught in private schools, aligning the curriculum more closely to public schools and making parents question the need to pay private school fees when their children can attend free government schools. Authorities have also moved to control the number of private schools.

Persons: Aly, Julian Fisher, Fisher, Dulwich, Xi, It's, Frank Feng, Jimmy Chin, Nicholas Burns, Mathias Boyer, Casey, Roxanne Liu, Dorothy Kam, Muralikumar Organizations: REUTERS, Dulwich College, Venture Education, Strategic, Education, Motion, Dulwich, British, Authorities, Dulwich's, Victoria Kid House, Western International School of, Everpine, Xi'an Jiaotong University, University of Science, Technology of, International School of Beijing, Casey Hall, Thomson Locations: Shanghai, China, HONG KONG, British, Asia, China's, Beijing, Dulwich, Singapore, South Korea, U.S, Britain, Canada, Lucton, Greater Bay Area, Shenzhen, Eton, Guangzhou, Western International School of Shanghai, Xi'an, Technology of China, Anhui, Hong Kong

☆ China's He Lifeng named to key post in Central Financial Commission
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Florence Lo/File Photo Acquire Licensing RightsBEIJING, Nov 6 (Reuters) - A Chinese vice premier, He Lifeng, has been appointed head of the office of the Central Financial Commission (CFC), which is responsible for running day-to-day affairs of a new regulator tasked with overseeing a vast financial sector. He was also appointed as party chief of a separate Central Financial Work Commission (CFWC), which has been set up to strengthen the ideological and political role of the party in China's overall financial system. The appointments, announced by the central bank's Financial News publication, underscore how the ruling Communist Party has taken direct control of supervising the financial sector. He has also been appointed director of a key ruling Communist Party economic body, the Central Finance and Economic Affairs Commission, replacing Liu He. In 2014, He was named vice chairman of the National Development and Reform Commission, the state planning agency, before taking full control in 2017.

Persons: Lifeng, Florence, Xi Jinping, Liu He, Xi, Ziyi Tang, Kevin Yao, Ryan Woo, Edwina Gibbs, Robert Birsel Organizations: REUTERS, Rights, Central Financial Commission, Financial Work, Financial, Communist Party, Central Finance, Economic Affairs Commission, Xiamen University, National Development, Reform Commission, Thomson Locations: China, EU, Diaoyutai, Beijing, Rights BEIJING, Quanzhou, Fujian province, Xiamen, Tianjin

☆ ICBC ex-VP being probed by China’s anti-graft body
▼ + stars: | 2023-11-06 | by ( Manav Tanneeru | Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Zhang Hongli, a former senior executive at Industrial and Commercial Bank of China (ICBC), is being probed by China’s top anti-corruption watchdog, in a sign of a continuing crackdown in the country’s financial sector. State-owned ICBC is one of China’s “Big Four” banks and the world’s largest lender by assets, according to S&P Global. Prior to joining ICBC, Zhang worked at Deutsche Bank and Goldman Sachs, where he held senior management roles. They include three top executives at the highest ranks of China’s financial world, who have either been probed or charged, according to the commission. In October, Li was expelled from the Communist Party and arrested for allegedly taking bribes, according to Xinhua.

Persons: Hong Kong CNN — Zhang Hongli, Zhang, Goldman Sachs, Bao Fan, Bao, Xi, Li Xiaopeng, —, Li, Liu Liange, Liu, “, Wang Bin, Wang Organizations: Hong Kong CNN, Industrial, Commercial Bank of China, Central Commission, P, Deutsche Bank, ICBC’s Communist Party, Xinhua, CNN, China, Communist Party, of China, China Life Insurance Locations: China, Hong Kong, ICBC, Xinhua

☆ China to accelerate issuance of government bonds, finance minister says
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

A woman walks in the Central Business District (CBD) on a hazy morning in Beijing, China, October 25, 2021. REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, China, Nov 5 (Reuters) - China will accelerate the issuance and use of government bonds, state-run news agency Xinhua reported on Sunday citing an interview with new finance minister Lan Foan. "The Ministry of Finance will continue to implement a proactive fiscal policy, focus on improving efficiency, and better play the effectiveness of fiscal policy," said Lan, who also noted the "complex domestic and international situation". Some new local government debt quotas for 2024 have been issued in advance to reasonably ensure local financing needs, he said. The top parliamentary body last month approved the issuance of 1 trillion yuan ($137 billion) in sovereign bonds in the fourth quarter to fund rebuilding of areas affected by floods, state media reported.

Persons: Thomas Peter, Lan Foan, Lan, Liu Kun, Martin Quin Pollard, Wang Shuyan, William Mallard, Christopher Cushing Organizations: Central Business, REUTERS, Rights, Xinhua, Ministry, Finance, Communist Party, Thomson Locations: Beijing, China, Rights BEIJING, Shanxi

☆ OpenAI just taught little-guy developers an ugly lesson
▼ + stars: | 2023-11-03 | by ( Hasan Chowdhury | Riddhi Kanetkar | ) www.businessinsider.com time to read: +4 min

One founder building ChatGPT add-ons says he's "bracing" for other changes from OpenAI. Little-guy developers building complementary services to OpenAI's ChatGPT chatbot have just found this out the hard way. As several techies noticed, that's pretty much killed off a bunch of startups that build "ChatGPT wrapper" apps that did precisely that. Other wrapper apps can create ad copy, sales materials, and social media posts. As one anonymous venture capitalist, who has backed a ChatGPT wrapper startup put it to Insider: "Just wait until ChatGPT has an outage and see which emperors have no clothes."

Persons: —, Sam Altman, Kevin Dietsch, Dominik Lohle, Joel Liu, Liu, Claude, Damon Chen, PDF.ai, h9KnROaWtI — Damon Chen, Nvidia's, Jin Fan, ChatGPT Organizations: Service, Google, Boston, Microsoft

☆ 'Bracing for the impact': Founders who built on ChatGPT find out the hard way Big Tech can torpedo their work
▼ + stars: | 2023-11-03 | by ( Hasan Chowdhury | Riddhi Kanetkar | ) www.businessinsider.com time to read: +4 min

☆ Secretive Taiwanese power plant opens to public for the first time — as an art space
▼ + stars: | 2023-11-02 | by ( Wayne Chang | ) edition.cnn.com time to read: +6 min

Beigan, Taiwan CNN —In a sleepy Taiwanese island village just eight miles off the coast of mainland China, scooters whiz past an unassuming building that has stood here, largely overlooked, for decades. YI.ng Lighting DesignKnown locally as Jun Hun (or “Army Soul”), a nickname shared with the Taiwanese army division that built it, the Beigan Power Plant entered service in 1975 and became a linchpin of the local economy before closing in 2010. Art in the ‘heart’ of MatsuThe transformed Beigan Power Plant is the flagship venue of the Matsu Biennial, which runs through November 12 and features artworks exploring the outlying islands’ heritage, cultural identity and military past. “The power plant is the heart of Matsu that hasn’t stopped beating, and the generators are the essence of the power plant,” Liu said told CNN at the studio he shares with Chu. “I want to use sound to breathe new life into the deserted power plant, so that viewers can grasp what it was like when these generators were still running,” Wang told CNN at her studio.

Persons: Taiwan CNN —, —, Hun, ”, Mao Zedong’s, Matsu —, Matsu, Annie Chu, Liu Ping, hasn’t, ” Liu, Chu, Kinmen, Wang Yu, ” Wang, ” Chu Organizations: Taiwan CNN, Matsu, Taiwanese, Plant, Kuomintang, KMT, People’s Liberation Army, CNN, Visitors, Beigan, Matsu Biennial Locations: Beigan, Taiwan, China, Matsu, Taiwan’s, Taipei, Wang, Beijing

☆ The No. 1 work perk that would get people to return to the office more often
▼ + stars: | 2023-11-02 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +2 min

If bosses want workers in the office more often, they'll need to start paying up to cover commuting costs, employees say. Workers who currently split their time between home and the office say the No. 1 work perk that would get them to return in-person more often is their company covering commuting costs (38%). Meanwhile, roughly 1 in 4 workers also say an office dress code is hampering their return. It's undoubtedly "wildly more expensive" to work from the office today than it was pre-pandemic overall, says Frank Weishaupt, CEO of Owl Labs.

Persons: they'd, Frank Weishaupt, it's Organizations: Workers, Owl Labs, Bureau of Labor Statistics

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