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☆ A South Korean mailman got a prison sentence for throwing out 16,000 pieces of mail. He said he was 'overworked.'
▼ + stars: | 2024-03-25 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +2 min

A South Korean mailman was sentenced to six months in prison for discarding 16,000 pieces of mail. AdvertisementA mailman in South Korea was handed a six-month prison sentence for dumping 16,003 pieces of mail. AdvertisementLee's sentence is suspended for two years, The Korea Herald reported, meaning he may avoid serving time behind bars. Lee, who delivered mail in Gangseo-gu, a district of Seoul, dumped the mail between January 2021 and September 2022, the outlet said. It found that the South Korean workforce's overall levels of emotional exhaustion increased, owing to perceived threats of job insecurity, feelings of isolation, and the pressures of their jobs.

Persons: mailman, —, Lee Organizations: Service, The Korea Herald, Seoul Southern, Court, Postal Services, South Korean, Korea Herald, Korean Locations: South Korea, Seoul

☆ Death Toll in China Landslide Rises to 11, Rescuers Still Search for Missing
▼ + stars: | 2024-01-22 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

BEIJING (Reuters) - The death toll from a landslide in China's Yunnan province rose to 11 on Tuesday as rescue workers battled freezing temperatures and snow to locate dozens of missing people. Rescuers worked through the night sifting deep mounds of earth at the site of the landslide in Zhenxiong County, state-owned China Central Television (CCTV) reported on Tuesday. After the landslide hit on Monday, at least 47 people from 18 households were reported missing, CCTV said. Eight of the missing were found dead on Monday afternoon, according to Zhaotong Daily, a local state-owned media outlet. "The mountain just collapsed, dozens were buried," a man surnamed Gu, who witnessed the landslide, told the state-owned TV station for the neighbouring province of Guizhou.

Persons: Rescuers, Gu, Bernard Orr, Shri Navaratnam Organizations: China Central Television, Sichuan Daily Newspaper Press Locations: BEIJING, China's Yunnan, Zhenxiong County, Zhaotong, Guizhou, Shanghai

☆ Eileen Gu: Competing has ‘taught me how to cope with fear,’ says Chinese freestyle skiing star
▼ + stars: | 2024-01-18 | by ( Michael Johnston | Amanda Davies | ) edition.cnn.com time to read: +6 min

And her next mountain to climb is the Winter Youth Olympic Games (YOG) in Gangwon, South Korea – which begin this Friday – with an eye firmly set on the 2026 Winter Olympics in Italy. Her exploits, both on and off the slopes, led to her recently being named the Global Ambassador for Gangwon 2024. Gu in action during the women's freestyle skiing freeski big air finals at the 2020 Winter Youth Olympic Games. Because no matter where you’re from or what sport you’re in, you’re a similar age, you’re [from a] similar background. But I do notice that people keep their mouth shut around me now, but I think that’s not really fair.

Persons: Eileen Gu, Gu, stokes, ”, Gu hasn’t, Ben Queenborough, OIS, “ It’s, It’s, “, ’ ”, ” Gu, Richard Heathcote, won’t, there’ll, ’ Organizations: CNN, Olympic, Beijing, Big Air, Global, Gangwon, CNN Sport, Stanford University, USA, Sports, Reuters, Youth, Deloitte, Getty, Paris Olympics Locations: Gangwon, South Korea, Italy, China, Lausanne –, Beijing, Switzerland, Canada

☆ China's Xpeng claims its latest EV model could be an industry 'game changer'
▼ + stars: | 2024-01-05 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

watch nowChinese electric vehicle company Xpeng told CNBC on Friday that its newly launched X9 model could be a "game changer" for the industry. Xpeng launched the X9 large 7-seater EV on Jan. 1, a car built on its SEPA2.0 architecture for the Chinese market. Xpeng's new launch comes as several domestic EV players such as Nio , Huawei and Zeekr recently revealed new electric vehicles. Stiff competitionCompetition is intensifying in the Chinese EV market, with BYD, Li Auto and Geely among the small number of players that have hit their annual sales targets. Gu is optimistic on China's EV market in 2024 despite challenges, saying that "2024 will be a very competitive year" with new model and brand launches.

Persons: Xpeng, Brian Gu, Emily Tan, Gu, Zeekr, Xpeng Xpeng, Guangdong Huitian, Li Auto, Vincent Sun, Xpeng Nio, Li, BYD, Tesla, TrendForce Organizations: CNBC, Jan, EV, Huawei, Guangdong Huitian, Li Auto Locations: China, Europe, Guangdong, U.S

☆ The tech powering ChatGPT won't make AI as smart as humans. Others might.
▼ + stars: | 2023-12-05 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

But the tech powering it has limitations and may struggle to make AI that is as smart as humans. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This means the public gets to see research faster, but it isn't necessarily reliable. AdvertisementHe gave "kudos" to Dao and Gu "for pushing on alternative sequence architectures for many years now." ChatGPT was a landmark cultural event that sparked an AI boom.

Persons: ChatGPT, —, Bill Gates, abut, Albert Gu, we've, vXumZqJsdb — Albert Gu, Gu, Dao, JAX, Jim Fan Organizations: Service, Google, Carnegie Mellon, Tri Dao, SSM, Nvidia Locations: AGI, Tri, pretraining

☆ Fidelity raises $700 mln in its first bond mutual fund in China
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +3 min

SHANGHAI/SINGAPORE, Nov 23 (Reuters) - Fidelity International has garnered 5 billion yuan ($700 million) from investors for its first fixed income mutual fund in China, deepening the asset manager's involvement in the $3.8 trillion mutual fund market. The bond fund - Fidelity's second mutual fund product in China - raised the sum mainly from institutional investors in a three-week, shortened subscription period, the money manager said. China's mutual fund industry is crowded with over 150 players, including foreign ones such as BlackRock (BLK.N), Schroders (SDR.L) and JPMorgan Asset Management. "The fundraising size is rather encouraging," due to tough competition in the local market and Fidelity's limited track record in China, said Huang, who heads Fidelity International's two-year-old China mutual fund unit. Fidelity International was formerly the international investment arm of Boston-based Fidelity Investments before being spun off.

Persons: Helen Huang, Huang, Neuberger Berman, ASIFMA, Li Gu, Samuel Shen, Tom Westbrook, Muralikumar Organizations: Fidelity International, Reuters, Fidelity, JPMorgan Asset Management, Fidelity Investments, Regulators, China Securities Regulatory Commission, Thomson Locations: SHANGHAI, SINGAPORE, China, BlackRock, Boston, Beijing, Shanghai, Singapore

Alibaba Group's Hong Kong shares closed down 10%, their biggest single-day drop in more than a year. Some analysts said keeping the cloud unit could assist Alibaba's AI push. But (it) also points to the increasing importance of retaining the cloud unit given the surging demand for AI computing in China," said US Tiger Research analyst Bo Pei. Alibaba reported second-quarter revenue of 224.79 billion yuan ($31.01 billion), in line with the 224.32 billion expected by analysts, LSEG data showed. The company also said it will press ahead with a listing of Alibaba's logistics arm, Cainiao, which applied for a Hong Kong initial public offering in September.

Persons: Group's, Jon Withaar, Alibaba, Joseph Tsai, Aly, Jack Ma, Kenneth Fong, Bo Pei, Eddie Wu, Daniel Zhang, Vey, Sern Ling, Donny Kwok, Josh Ye, Casey Hall, Gu Li, Yelin, Ankur Banerjee, Anne Marie Roantree, Brenda Goh, Muralikumar Anantharaman Organizations: HK, Pictet Asset Management, Tencent Holdings, Artificial Intelligence, REUTERS, UBS, Tiger Research, Union Bancaire, Hong, Thomson Locations: HONG KONG, China, Hong Kong, Asia, U.S, Singapore, Washington, Hangzhou, Shanghai, Alibaba, Union, Yelin Mo, Beijing

☆ XPeng president: We expect to break even by 2025
▼ + stars: | 2023-11-17 | 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 EmailXPeng president: We expect to break even by 2025Brian Gu, vice chairman and president of XPeng, says the company wants to make sure its global expansion is "on track" next year.

Persons: Brian Gu, XPeng

The drop, potentially its biggest one-day fall in more than a year, wiped about $20 billion off the Chinese tech giant's market value. It was the first market reaction in Asia since the stunning strategy reversal was announced late on Thursday. "The cancellation of a full spin-off of AliCloud is a negative surprise," said Nomura analyst Shi Jialong in a note. The company said it will press ahead with a listing of Alibaba's logistics arm, Cainiao, which applied for a Hong Kong initial public offering in September. Reporting By Donny Kwok and Josh Ye in Hong Kong, Casey Hall and Gu Li in Shanghai; Writing by Anne Marie Roantree and Brenda Goh; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Group's, Nomura, Shi Jialong, Alibaba, Jack Ma, Kenneth Fong, Joseph Tsai, Bo Pei, Eddie Wu, Donny Kwok, Josh Ye, Casey Hall, Gu Li, Anne Marie Roantree, Brenda Goh, Muralikumar Organizations: Artificial Intelligence, REUTERS, Hong, Tencent Holdings, HK, UBS, Tiger Research, Thomson Locations: Shanghai, China, HONG KONG, SHANGHAI, HK, Hong Kong, Asia, AliCloud, Washington, U.S, Hangzhou, Alibaba

☆ South Korea: Itaewon crush haunts survivors one year after Halloween crowd disaster
▼ + stars: | 2023-10-27 | by ( Heather Chen | ) edition.cnn.com time to read: +9 min

CNN —Hye Minyi can still vividly recall what happened in Itaewon, South Korea, on the night of October 29, 2022. Whether the disaster in Itaewon last year will put a dent in this growing popularity is yet to be seen. “We are extremely concerned that there could be a repeat of the Itaewon tragedy,” said Shibuya mayor Ken Hasebe. The Itaewon crowd crush was South Korea’s worst peacetime disaster since the sinking of a ferry in 2014 killed 304 people – among them 250 students and teachers from the Danwon State High School. Lee is certain of one thing, however – that she is “never going back to the area again.”“For me, Halloween and the Itaewon tragedy are (inextricably) linked,” she said.

Persons: CNN — Hye, Amy, Hye, ” Hye, ”, “, Anthony Wallace, expats, Ken Hasebe, Hasebe, ” Hasebe, overtourism, Yuya Shino, Critics, Jung Yeon, Yoon Suk, Kim Kun, Chung Sung, Lee, Kim Ho, Lee Sang Organizations: CNN, Getty, “, Reuters, Danwon State High School, South Korean, Seoul Metropolitan Government, South, City, Facebook, Interior, Safety Locations: Itaewon, South Korea, Seoul, AFP, Asia, Tokyo, Taipei, Hong Kong, Shanghai, Singapore, Japan, Shibuya, “, Tokyo's Shibuya, Guangzhou, China, South, Danwon, Yongsan

☆ Tesla rival Xpeng presses ahead with driver-assist rollout in China, Europe
▼ + stars: | 2023-10-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

An Xpeng G9 electric vehicle at the Xpeng pavilion in the Open Space area during the Munich Motor Show (IAA) in Munich, Germany, on Sept. 5, 2023. BEIJING — Chinese electric car company Xpeng said this week it plans to roll out driver-assist technology in Europe by the end of next year, and remains on track with plans to expand the tech to 50 cities in China by year-end. U.S.-based Tesla 's version for city streets — called Full Self-Driving Beta — has yet to be released in China and it's unclear how many of the driver-assist features are available in Europe. Xpeng needs time to test and localize its driver-assist software in Europe, Brian Gu, honorary vice chairman of Xpeng's board of directors and co-president, told reporters Wednesday. He said the startup is cooperating with EU regulators on their recently announced probe into subsidies at Chinese electric vehicle companies, and the company is taking a "stringent approach" to comply with Europe's GDPR data protection rules.

Persons: Xpeng, Tesla, Brian Gu Locations: Munich, Germany, BEIJING, Europe, China, U.S

☆ China leaves benchmark lending rates unchanged as expected
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

A woman walks past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo Acquire Licensing RightsSHANGHAI/SINGAPORE, Oct 20 (Reuters) - China kept its benchmark lending rates unchanged at the monthly fixing on Friday, matching market expectations, as a set of economic data suggested the economy is stabilising and a weaker yuan constrained further monetary easing. The one-year loan prime rate (LPR) was kept at 3.45%, while the five-year LPR was unchanged at 4.20%. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. China cut the one-year benchmark lending rate in August but surprised markets by keeping the five-year rate unchanged.

Persons: Jason Lee, Li Gu, Tom Westbrook, Edmund Klamann, Jacqueline Wong Organizations: People's Bank of China, REUTERS, Rights, TD Securities, Barclays, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE

☆ Red meat linked to risk of type 2 diabetes, study finds
▼ + stars: | 2023-10-19 | by ( Kristen Rogers | ) edition.cnn.com time to read: +7 min

I hope our study could settle the debate regarding whether we should limit red meat intake for health concerns or not.”Eating certain amounts of red meat has been linked with higher risk of developing type 2 diabetes. The authors studied 216,695 people who had participated in the Nurses’ Health Study, the Nurses’ Health Study II and the Health Professionals Follow-up Study, all of which recruited participants from around 1976 to 1989. Eating the most processed or unprocessed red meat was linked with a 51% and 40% higher risk of type 2 diabetes, respectively. But multiple biological factors could have affected the relationship between red meat and type 2 diabetes, the authors said. “Consistently reported, dairy, legumes and nuts are the best foods with which to replace the red meat,” she added.

Persons: ”, Xiao Gu, ” Gu, White, Alice Lichtenstein, Gershoff, Lichtenstein wasn’t, Lichtenstein, Gunter Kuhnle, wasn’t, “, Walter C, Willett, Harvard T.H, Gu Organizations: CNN, Harvard, American, Clinical Nutrition, of Public Health, Nurses, Health, NHS, Nutrition Science, Tufts University, Nutrition Laboratory, University of Reading Locations: Chan, North America, Boston

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsHONG KONG/SHANGHAI, Oct 17 (Reuters) - China's Gemdale (600383.SS) saw its stocks and bonds plunge on Tuesday after the resignation of its chairman, as investors took no chances amid the debt crisis in the key real estate sector. However, investors concerned about the broader debt problems in China's property sector sold off the stock, which dropped by the daily 10% limit in afternoon trading in Shanghai. Gemdale has a total debt of 21.1 billion yuan ($2.88 billion) in the form of bonds due by the end of 2024, according to LSEG data. It ranked as China's 8th largest developer last year, according to private research firm China Real Estate Information Corp. It had sales of 221.8 billion yuan ($30.3 billion) last year and its financial fundamentals were stable, the company said in its annual report published in April.

Persons: Thomas Peter, Ling Ke, Gemdale, Huang Juncan, Ting Meng, Xie Yu, Li Gu, Edwina Gibbs, Miral Organizations: REUTERS, ANZ Bank China, Estate Information Corp, Thomson Locations: Beijing, China, HONG KONG, SHANGHAI, Shanghai, Hong Kong

Deadly earthquake hits Afghanistan Earthquake impact mapPowerful earthquakes struck northwestern Afghanistan on October 8, killing more than 2,400 people, the Taliban administration said, in the deadliest tremors to rock the mountainous country in years. A boy cries as he sits next to debris, in the aftermath of an earthquake in the district of Zinda Jan, in Herat, Afghanistan, October 8, 2023. For example, an earthquake with a magnitude of 7 is ten times larger than a magnitude 6 earthquake. Afghanistan’s five highest magnitude earthquakes (7.4 to 7.8 magnitude) have occurred along the Hindu Kush mountain range in the country’s north-east region. A man carries the body of his child, in the aftermath of an earthquake in the district of Zinda Jan, in Herat, Afghanistan October 8, 2023.

Persons: Zinda Jan, Stringer Afghanistan’s, Damage Organizations: U.S . Geological Survey, REUTERS, Stringer Poor, Diplomats, International Committee, World Health Organization, WHO Locations: Afghanistan, Herat, U.S, Turkey, Syria, Zinda, Pakistan, South Asia, Kabul, Herat province

[1/8] Asian Games - Hangzhou 2022 - Closing Ceremony - Hangzhou Olympic Sports Centre Stadium, Hangzhou, China - October 8, 2023 A view of the handover ceremony at the closing ceremony REUTERS/Marko Djurica Acquire Licensing RightsHANGZHOU, China, Oct 8 (Reuters) - China's eastern city of Hangzhou rounded off the 19th Asian Games on Sunday with a colourful and "joy"-themed closing ceremony after hosting the continental sporting extravaganza which organisers hailed as "one of the finest" ever. Taking place amid tight security the less-than two hour ceremony also included a handover to the hosts of the next Asian Games in 2026, the Japanese city Nagoya. The hosts' 201st gold left them two better than their previous best of 199 at the 2010 Guangzhou Asian Games. Organisers said 12,407 athletes from 45 nations competed in 40 sports at the Hangzhou Games, which were delayed for a year due to COVID-19. "We have hosted the most successful Asian Games in history" said Chen Weiqiang, Executive Secretary General of the Hangzhou Asian Games Organising Committee and vice-mayor of Hangzhou.

Persons: Marko Djurica, Li Qiang, jigged, Takashi Kawamura, Randhir Singh, Gu Shiau, Kazakhstan's Moldir, Chen Weiqiang, WADA, Martin Quin Pollard, Ian Ransom, Christian Schmollinger, Toby Chopra, Christian Radnedge Organizations: Hangzhou Olympic Sports Centre, Rights, Games, Nagoya, Mainichi, Olympic Council of Asia, energised, Bangkok Games, Hangzhou Games, Hangzhou Asian Games, Doping Agency, Olympic, Paralympic Games, Olympic Council of, OCA Locations: Hangzhou, China, Rights HANGZHOU, Nagoya, Nanjing, Aichi, Guangzhou, Jakarta, Japan, Macau, North, Korea, Olympic Council of Asia

☆ South Korea breakdancing: Korean b-boys eye Asian Games and Olympic gold
▼ + stars: | 2023-10-05 | by ( Andrew Mcnicol | ) edition.cnn.com time to read: +7 min

South Korean breakdancing team Jinjo Crew at the World K-pop Concert in 2021. Jeon Jiye, or b-girl Fresh Bella, will feature for the South Korean delegation at the Asian Games. The veteran, from the legendary Jinjo Crew, is a multiple world champion and Asian Games gold medal contender. There is added motivation after the country’s emphatic success in fellow Asian Games debutant, esports. “At the Asian Games, we will see all of this.

Persons: John Jay Chon, Breakdancing, Seo, –, United States –, Ronald Reagan’s, Han Myung, breakdancing, “, ”, Jeon Jiye, Fresh Bella, Jiang Han, Kim Heon, Korea’s, Kim, esports, We’ve, ” Kim, ” Kim Heonwoo, ’, Kwon Jang, Kwon, ” Kwon, we’re, We’re, Chen Po Chun, Chen Organizations: Hong Kong CNN, Korean, South, Asian, Summer, South Korean, World, Games, CNN, Getty, Asian Games, “ Locations: Hong Kong, Korea’s, Korean, American, South Korea, United States, Korea, Hangzhou, China, Paris, Bronx, Xinhua, South, Seoul, United Kingdom, Asia, Japan, somebodies

☆ Asian Games: South Korea's Esports stars target medal success -- and a military exemption
▼ + stars: | 2023-09-26 | by ( Yoonjung Seo | ) edition.cnn.com time to read: +15 min

For South Korean male participants, winning a gold medal in the Asian Games or Olympic Games not only brings honor but also grants them a military exemption. However, the mandatory duty can be waived for some athletes, in particular those who win an Olympic medal or a gold medal in the Asian Games. Seven games will be featured as official medal events at the 19th Asian Games, building on the success of the pilot event at the 2018 Jakarta-Palembang Games. The venue for the Asian Games esports competitions is state-of-the-art and an impressive sight to see. With its inclusion as an official Asian Games medal event, the possibility of esports becoming a part of the Olympic Games is a topic of growing debate.

Persons: Suga, Oh, Wang Zhao, Son Heung, ” Shin, ”, esports, ” Kim Sa, “, ” Lee Kyung, Kwak, hyouk, it’d, ” Kwak, Thailand’s Teedech, Lee Sang, –, Michael Chow, Yoonjung Seo, Michael Jordan, ” Chow, Faker, JUNG YEON, Philip Fong, Rowan Crothers, “ I’m, I’ll, ” Crothers, Jess Bolden, Chow, Niko, Young Organizations: CNN, Gaming, Hangzhou Asian Games, Asian Games, Games, BTS, Asian, Getty, Premier League soccer, Tottenham Hotspur, Marine Corps, Republic of Korea Marine Corps, “ Times, CNN Sport, FIFA, Hangzhou, South Korea, Believer Company, Riot, South, Team Korea, League, “ League, SK Telecom, Riot Games, Microsoft Studios, Xbox, Studios, International Federation of, Phonographic Industry, EA Sports FC Online, PUBG, of Valor, of, Olympic, International Olympic Committee, Maekyung Media, Paralympic, IOC, Kodikara, International Federations, Niko Partners Locations: South Korea, Hangzhou, AFP, Seogwipo, Jeju, Republic of, Seoul, esports, Jakarta, South, . South Korea, Palembang, Asia

[1/5] A Chinese tourist is welcomed by Thai traditional puppets during a welcome ceremony of the first batch of Chinese tourists under a five-month visa-free entry scheme at Bangkok's International Airport, Thailand, September 25, 2023. The visa waiver programme runs from Sept. 25 until February next year. The government expects 2.88 million Chinese visitors during that 5-month period, slightly higher than the 2.34 million Chinese who have visited this year. "More Chinese tourists come to Thailand for holiday, because it is indeed very convenient," he said. Chinese tourists say they are drawn to Thailand for its beaches and food.

Persons: Athit, Srettha Thavisin, Srettha, Gu, ”, Ye Weihe, Panarat Thepgumpanat, Miral Fahmy, Gerry Doyle Organizations: Bangkok's International, REUTERS, Rights, Thomson Locations: Thai, Thailand, Rights BANGKOK, Bangkok, Shanghai, Srettha, Tourism, Suvarnabhumi, China, Pattaya

☆ Take Five: Doves versus hawks
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +5 min

Key UK jobs data and a G20 summit, marked by the absence of China's Xi Jinping, are also in focus. The doves urge caution; the most hawkish hawks say a pause is not a done deal, but haven't explicitly called for a hike either. Wednesday's August U.S. inflation data, followed by producer price and retail sales numbers a day later, are the next test. Next up are consumer and factory price data this weekend, with industrial output and retail sales out on the 15th. The unemployment rate has been edging above last year's 48-year low, indicating some softening in the jobs market, while basic earnings are rising at record pace.

Persons: Andrew Kelly, China's Xi, Ira Iosebashvili, Kevin Buckland, Li Gu, Amanda Cooper, Ahmad Ghaddar, haven't, Goldman Sachs, Xi Jinping, He's, BoE Governor Andrew Bailey, BoE, RUSH Brent, Dhara, Philippa Fletcher Organizations: Financial, of, REUTERS, European Central Bank, United States, Key, Yoruk Bahceli, ECB, Reuters, Huawei, SMIC, West, Bank of England, Thomson Locations: of Manhattan , New York City, U.S, Yoruk, Amsterdam, New York, Tokyo, Shanghai, London, China, United States, Washington, Beijing, India, Britain, Saudi Arabia, Russia, Iran, Venezuela, Libya

☆ I shopped at Uniqlo's sister store GU to see why Gen Z loves the brand. I was surprised to find some pieces I liked.
▼ + stars: | 2023-09-08 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +2 min

GU is a fast-fashion brand targeting Gen Z with stylish, affordable clothing. I visited the store and found some of the trendier pieces, like cargo pants, quite approachable. GU has grown to nearly 450 stores in Asia but didn't enter the US market until it opened its Soho store in October 2022. Much like Uniqlo, GU carries basics like logo-free t-shirts, simple sweaters, minimalist shoes, and dress pants. I wanted to check it out for myself, so I visited to see why it's become popular among Gen Zers.

Persons: Gen Z, that's, didn't, it's, Zers Organizations: GU, New York City, Service, Fast Retailing Group Locations: New York, Wall, Silicon, Asia, Soho, Uniqlo

☆ China's Xpeng says German carmakers ready to tackle crisis as EV race hots up
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsMUNICH, Sept 6 (Reuters) - German carmakers are ready to tackle their worst crisis, an executive at Chinese EV maker Xpeng said on Wednesday, as China's carmakers expand overseas, putting pressure on Europe in the race to electrify. Globally, China leads EV sales, the latest data from tech industry researcher Counterpoint shows. The U.S. has the fastest growing EV sales with Germany in third place. "The Chinese companies are flooding into overseas markets like mushrooms, deepening their sense of crisis," Gu said. German Chancellor Olaf Scholz said EV competition from abroad should be a spur, not a worry for German carmakers.

Persons: Olaf Scholz, Hildegard Mueller, Markus Soeder, Angelika Warmuth, Xpeng, Brian Gu, Gu, Jia Jianxu, Zheng, Zhang Yan, Victoria Waldersee, Josephine Mason, Elaine Hardcastle Organizations: German Association of, Automotive, REUTERS, Rights, HK, IAA, EV, Germany, Reuters, Volkswagen, SAIC, Xuanyuan Academy, Germany's IAA, New Energy Vehicle Congress, Gang, Thomson Locations: Bavarian, Munich, Germany, Europe, Xpeng, China, U.S, Britain, France

☆ Chinese EVs are now seen posing a 'real threat' to Europe's auto industry
▼ + stars: | 2023-09-06 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesChinese electric vehicles pose "a real threat" to the European car industry, according to Christian Kames, managing director at financial advisory firm Lazard. Kames spoke from the IAA Mobility Conference in Munich, where the number of Chinese companies has soared since the last event. watch nowThe increase in Chinese companies in attendance shows that these firms "really have the European market … as the next market they want to conquer," Kames said. European companies are 'ready to engage'European auto manufacturers are well aware of the competition brought about by Chinese companies, Christian Kames told CNBC. "[European carmakers] get it now, that the Chinese [automakers] are a real threat.

Persons: Christian Kames, Lazard, Kames, Warren Buffet, carmaker BYD, Xpeng, Brian Gu, Luca De Meo, Monday, De Meo, China's, Chris Reitermann, CNBC's Evelyn Cheng, Reitermann Organizations: Munich, Bloomberg, Getty, IAA, IAA Mobility, CNBC, UBS, Renault, Ogilvy Asia Pacific Locations: Munich, Germany, Asia, Europe, Hangzhou, China, Swiss, European, Greater China

☆ China's Xpeng says German carmakers ready to tackle crisis in EV race
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +4 min

Globally, China leads EV sales, the latest data from tech industry researcher Counterpoint shows. The U.S. has the fastest growing EV sales with Germany in third place. Chinese companies including Xpeng, BYD and Leapmotor (9863.HK) are seeking the higher margins and faster growth overseas markets can offer, which means they are challenging European companies on their home turf with cheaper models. "The Chinese companies are flooding into overseas markets like mushrooms, deepening their sense of crisis," Gu said. German Chancellor Olaf Scholz said EV competition from abroad should be a spur, not a worry for German carmakers.

Persons: Olaf Scholz, Hildegard Mueller, Markus Soeder, Angelika Warmuth, Xpeng, China's carmakers, Brian Gu, Gu, Mueller, ” Gu, “, ”, Jia Jianxu, Zheng, Zhang Yan, Victoria Waldersee, Josephine Mason, Elaine Hardcastle Organizations: German Association of, Automotive, REUTERS, Rights, HK, IAA, Automotive Industry, EV, Germany, Reuters, Volkswagen, SAIC, Xuanyuan Academy, Germany's IAA, New Energy Vehicle Congress, Gang, Thomson Locations: Bavarian, Munich, Germany, Europe, China, U.S, Britain, France

☆ Chinese electric carmakers ramp up push overseas, setting up clash with U.S., European auto giants
▼ + stars: | 2023-09-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Arjun Kharpal | CNBCMunich, GERMANY — The IAA in Munich, Germany is one of Europe's most high-profile auto shows. And it was dominated by Chinese electric car firms looking to expand their presence on the continent and challenge incumbents from BMW to Ford in the new era of battery-powered vehicles. But a slowing market at home, due to tepid consumer spending after Covid-19 restrictions were lifted, coupled with an attractive market in Europe, has seen Chinese firms launch cars abroad and expand their footprint. Many of the European carmakers have been seen lagging in their push into EVs at a time when Chinese players have launched dozens of new vehicles. watch nowThe entrance of Chinese firms into Europe is seen as a threat to big automakers who have been perceived to be moving too slow on EVs.

Persons: BYD, Arjun Kharpal, Daniel Roeska, Roeska, Zhu Jiangming, Warren Buffett, Xpeng, Brian Gu, Gu, Bernstein, Tesla, Mercedes, Xpeng's Gu Organizations: CNBC, BMW, Ford, EV, Bernstein Research, Leapmotor, Tesla, IAA Locations: Europe, Munich, Germany, CNBC Munich, GERMANY, China, Hangzhou, Norway, Sweden, Denmark, Netherlands, Guangzhou, EVs

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