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☆ Xi Jinping just became unassailable. Here’s why investors are running scared
▼ + stars: | 2022-10-26 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Xi’s preference for personal loyalty over technocratic competence bodes ill for China’s already bleak economic outlook, analysts said. “In effect, Xi Jinping establishes an echo chamber around his own ideas,” she said. People watch the opening session of the 20th Chinese Communist Party Congress in Huaibei, in China's eastern Anhui province. Li Qiang, the party boss of Shanghai who presided over the city’s chaotic two-month lockdown, is now the second-highest ranking party official after Xi. The NDRC is China’s top economic planner, responsible for drafting the country’s economic plans and overseeing major state investment projects.

☆ Battery-recycling startup Ascend Elements just pulled in $800 million in funding. Here's why investors are betting on it to beat out rivals like Redwood Materials.
▼ + stars: | 2022-10-26 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Ascend Elements wants to lead in the crucial EV-battery-recycling space. The burgeoning battery-recycling startup Ascend Elements is sitting on a fresh $800 million — and its CEO plans to spend it on beating out rivals like Redwood Materials. Redwood Materials, arguably the most-known player in the industry, saw a whopping $700 million Series C last year. Correction: October 26, 2022 — An earlier version of this story misstated the breakdown of Ascend Element's funding. The $50 million strategic investment from SK is part of the $200 million in equity funding, not in addition to it.

HONG KONG — Xi Jinping secured a historic third term as leader of China on Sunday, cementing his status as the country’s most powerful figure in decades and extending his authoritarian rule over the world’s second-largest economy. The Chinese leader Deng Xiaoping introduced the limit in 1982 to prevent a return to a Mao-style cult of personality. The Chinese leader reiterated the goal of peaceful “reunification,” without renouncing the possible use of force. “Xi still promises no specific timeline on unification.”But the Chinese leader did put greater emphasis on warning “external forces” to stay out of the Taiwan issue. A telecast of Chinese President Xi Jinping plays on a screen in Hong Kong on Monday.

☆ Poshmark is the latest company to tap into the $25 billion livestream shopping market. Here's how entrepreneurs are making thousands of dollars per stream.
▼ + stars: | 2022-10-14 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +15 min

Li did not disclose how applications are vetted, but Popshop Live is accepting more applications as the company's team grows, she said. Virgile Ollivier, a cofounder and the CEO of Livescale, told Insider livestream shopping would soon become just as important for brands as social-media marketing. Livestream-shopping platforms pick up where Instagram falls shortApps focused solely on livestream shopping show a disconnect on traditional social-media platforms. Nguyen designed her own characters for merchandise in addition to the squishy and plushy toys she sells on Popshop Live. Most sellers livestream at least once a week, at the same time so their followers always know when to expect a show.

☆ China's 'liberal' Wang Yang seen as possible premier as reshuffle looms
▼ + stars: | 2022-10-11 | by ( James Pomfret | ) www.reuters.com time to read: +4 min

During his time in Guangdong, which borders Hong Kong, Wang made his mark by pushing an upgrade of rusting industries and touting socially inclusive policies. Wang was passed over for promotion to the Politburo Standing Committee in 2012, but as vice premier he helped oversee China's external economic relations including with the United States. YOUTH LEAGUELike Li Keqiang and Vice Premier Hu Chunhua - another premiership contender - Wang has ties to the Communist Youth League, a faction seen to be a rival to Xi's. In recent years under Xi, Wang has seemingly tempered his reformist tendencies, echoing the party's tough line on sensitive political issues including Taiwan, Xinjiang and Tibet, while expressing support for Xi. Register now for FREE unlimited access to Reuters.com RegisterReporting by James Pomfret; Editing by Tony Munroe and Lincoln Feast.

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