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Over one in 5 Chinese young adults looking for work can't find it, according to China's National Bureau of Statistics. According to UNICEF, youth unemployment can lead to social and economic unrest. For their July data released last week, Chinese government officials entirely omitted the data on youth unemployment. According to research from United Nations Children's Fund, youth unemployment impacts present and future economic growth and stability. The report also warns that youth unemployment can have "significant and serious social repercussions" and social unrest.
Persons: Sun Xin, Sun, haven't, Xi Jinping, it's, Liu Xingyu, Liu Organizations: National Bureau of Statistics, UNICEF, Service, China's National Bureau of Statistics, King's College London, NBC News, CNBC, The New York Times, Times, United Nations Children's Fund, Street Journal Locations: Wall, Silicon, China, COVID
Nationally, the average American gets 10 vacation days — all public holidays like Memorial Day and Thanksgiving — after a year of service. Several countries offer even more by law, giving workers more than a month of business days in vacation time per year. Here are nine European countries that give workers more than a month of paid vacations a year, according to the Organization for Economic Cooperation and Development:France: 30 days of paid vacation per yearUnited Kingdom: 28 days of paid vacation per yearAustria: 25 days of paid vacation per yearDenmark: 25 days of paid vacation per yearFinland: 25 days of paid vacation per yearNorway: 25 days of paid vacation per yearSpain: 25 days of paid vacation per yearSweden: 25 days of paid vacation per yearPortugal: 22 days of paid vacation per yearGiven the culture of rest prioritized around Europe, many workers get even more days off from their company. While Swedes are guaranteed 25 paid vacation days by law, her employer adds a few extra days to bring her up to 30 paid vacation days a year. In Norway, Lene Vindenes, 28, gets 25 paid vacation days per year, and her company requires her to take three weeks of vacation during the summer between June and August.
Persons: Kimberly Sorce, Lene Vindenes, Warren Buffett Organizations: European, Organization for Economic Cooperation, Development Locations: U.S, Europe, Spain, France, United Kingdom, Austria, Denmark, Finland, Norway, Sweden, Portugal, New Jersey
WASHINGTON, Aug 18 (Reuters) - The Biden administration has tightened controls on the export of materials and components for nuclear power plants to China, saying it would ensure the items were used only for peaceful purposes and not the proliferation of atomic weapons. The Nuclear Regulatory Commission (NRC), the federal agency responsible for nuclear energy safety, also requires exporters to get specific licenses to export special nuclear material and source material. That includes different types of uranium as well as deuterium, a hydrogen isotope that, in large amounts, could be used in reactors to make tritium, a nuclear weapons component. China opposes "putting geopolitical interests above nuclear non-proliferation efforts," he said. Two exports to China of the regulated nuclear materials occurred under a general license in the last year.
Persons: Biden, Liu Pengyu, Edwin Lyman, Henry Sokolski, Donald Trump's, Timothy Gardner, Michael Martina, Barbara Lewis Organizations: Industry and Security, Commerce Department, Nuclear Regulatory Commission, NRC, U.S, Nuclear Weapons, Union of, Pentagon, Nonproliferation, Education Center . U.S, Westinghouse, Thomson Locations: China, Washington, Beijing, U.S, United States
The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. While it was not immediately clear what valuation Tyson Foods is seeking for the China poultry business, it has annual sales of about $1.1 billion, one of the people said. Springdale, Arkansas-based Tyson Foods and Goldman Sachs declined to comment. Calls to Tyson Foods' China headquarters in Shanghai went unanswered. In the food industry, U.S. agricultural giant Cargill struck a deal in May to sell its China poultry business to private equity firm DCP Capital for an undisclosed price.
Persons: Arnd, Goldman Sachs, Tyson, Cargill, Hope Liuhe, Kane Wu, Abigail Summerville, Roxanne Liu, Tom Polansek, Jamie Freed Organizations: Tyson Foods, REUTERS, HONG KONG, Goldman, Capital, Reckitt, Primavera Capital Group, Industrial, Thomson Locations: Davos, Switzerland, HONG, China, Springdale , Arkansas, Shanghai, Russia, Ukraine, Mongolia, Nantong, Xiaogan, Hong Kong, New York, Beijing, Chicago
Differences in US and Taiwanese work culture could pose another challenge. Some TSMC workers are doubtful that Americans can adjust to the challenging work environment. It's not just a disagreement over expertise that poses risks to TSMC's Arizona chip plant. This is the work culture." It added: "We have not replaced any of our local workers with foreign workers and continue to prioritize the hiring of local workers in Arizona."
Persons: TSMC, chipmaker, It's, Morris Chang, Wayne Chiu, Fortune, they're, Mark Liu, TSMC's, Liu, chipmaker Chang, Adam Ozimek Organizations: Service, Taiwan Semiconductor Manufacturing Co, New York Times, Times, YouTube, Taiwan, Taiwan —, Brookings Institute, Arizona Pipe, Economic Innovation Group Locations: Arizona, Wall, Silicon, Taiwan, Taipei, Taiwanese, Asia, Oregon, America, Phoenix
Looking for a new job can take a lot of time, especially if you're already working another job while you search. It doesn't have to take a ton of time, either, says Marissa Morrison, vice president of people at the job search site ZipRecruiter. Like many hiring experts, she sees the value in leveraging artificial intelligence tools like ChatGPT to get this done, too. For example, you might write a prompt in ChatGPT to "write resume bullet points for [insert job title here] and include metric-based achievements." Check out: This is the best day of the week to apply for a new job, says a hiring expert
Persons: Marissa Morrison, you've, Morrison, Warren Buffett Organizations: CNBC
An employee works on the production line at Jingjin filter press factory in Dezhou, Shandong province, China August 25, 2022. REUTERS/Siyi Liu/File Photo Acquire Licensing RightsAug 16 (Reuters) - The White House, pressed on Wednesday about recent Chinese growth, said there were issues with the transparency of economic data issued by Beijing. "We have all seen the reports of the economic weakness in China ... and as we've said many times before, there have also been transparency issues as we know, when it comes to (China) and on the economic data, specifically," spokeswomen Karine Jean-Pierre told a briefing. Reporting by Rami Ayyub, writing by David Ljunggren, editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.
Persons: Siyi Liu, we've, Jean, Pierre, Rami Ayyub, David Ljunggren, Chris Reese Organizations: REUTERS, Thomson Locations: Dezhou, Shandong province, China, Beijing
China Evergrande NEV shares jump on $3.2 bln plan to lower debt
  + stars: | 2023-08-15 | by ( ) www.reuters.com   time to read: +1 min
A view of the electric vehicle (EV) factory of China Evergrande New Energy Vehicle Group in Tianjin, China October 20, 2021. REUTERS/Yilei SunBEIJING/HONG KONG, Aug 15 (Reuters) - China Evergrande New Energy Vehicle Group (NEV) (0708.HK) shares jumped nearly 50% on Tuesday after the electric vehicle unit of cash-strapped property firm China Evergrande Group (3333.HK) announced a $3.2 billion plan to repay debt and stay afloat. The overall package also includes a debt-for-equity swap of HK$20.89 billion ($2.67 billion) involving China Evergrande, its founder Hui Ka Yan, and his unit Xin Xin (BVI) Ltd, among others converting loans to shares, NEV said. After the deal is completed, China Evergrande's stake in the unit will be diluted to 46.86%. Shares in NEV jumped as much as 47% before paring down its gain to 16%.
Persons: Hui Ka Yan, Xin Xin, NEV, Roxanne Liu, Clare Jim, Miyoung Kim, Jamie Freed Organizations: Energy Vehicle Group, REUTERS, Sun, HK, China Evergrande, Thomson Locations: China, Tianjin, Sun BEIJING, HONG KONG, Dubai, NEV, Hong Kong, Beijing
Applying to a new job can feel like a full-time job itself, so it's important to be strategic about how you pace your search. According to ZipRecruiter's database, which includes 10 million active listings, Tuesday is the best day of the week to apply to a job, when some 22% of new jobs are added to the site. Meanwhile, "Sundays are not the best day to apply for jobs," she says. "You may be missing the opportunity to be among one of the first to apply for the freshest jobs." It's also a good reminder to take breaks during your job search so you don't get burned out: "Let yourself have days where you don't apply for jobs so that you can have that balance in your job search," Morrison says.
Persons: Marissa Morrison, Morrison, It's, Warren Buffett Organizations: CNBC
Apple supplier Foxconn cautious despite beating earnings forecasts
  + stars: | 2023-08-14 | by ( ) www.cnbc.com   time to read: +3 min
A factory at the mobile phone plant of Rising Stars Mobile India, a unit of Foxconn in Tamil Nadu, India, on July 12, 2019. Apple supplier Foxconn beat estimates for second-quarter earnings on Monday thanks to a booming artificial intelligence sector but retained a cautious outlook for this year due to global economic uncertainties. Within the AI server supply chain, Foxconn has won a "very high" market share for GPU modules and substrates, Liu said. It was better than an average forecast of T$25.57 billion profit from 13 analysts, according to Refinitiv. Apple this month forecast that a sales slump would continue into this quarter, sending shares down despite beating Wall Street sales and profit targets in its fiscal third quarter.
Persons: Liu Young, Liu, Foxconn, Jun Seki Organizations: Stars Mobile India, Apple, Vedanta, Nissan, North, Wall Locations: Tamil Nadu, India, China, Wisconsin, Foxconn
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CNN —A month after exiting an ambitious project to help build one of India’s first chip factories, Taiwan’s Foxconn says it remains bullish about the world’s most populous nation and is planning “billions” of dollars in investments there, as multinationals seek to diversify their supply chains beyond China. Foxconn’s India operations account for about $10 billion — or just under 5% — of the company’s annual turnover, which stood at $6.627 trillion new Taiwan dollars ($207 billion) last year, Chairman Young Liu told a Monday earnings call. “There is a positive energy for this market,” he said in response to a question from CNN. Foxconn, best known for making Apple (AAPL)’s iPhones, has more than 30 factories in India, including 20 dormitories that house tens of thousands of workers. It was seen as a blow to the New Delhi government’s plans to turn the country into a tech manufacturing powerhouse.
Persons: Taiwan’s Foxconn, Young Liu, , ” Liu, Foxconn Organizations: CNN, , Apple, Vedanta Locations: China, India, Taiwan, Delhi
But for today's youngest workers, one big thing holding them back is guilt. Some 35% of Gen Z workers say they feel guilty not working when they're on vacation, versus the 29% U.S. average across age ranges. That's according to LinkedIn's latest Workforce Confidence Index, based on a survey of 9,461 U.S. professionals this summer. "Gen Z is very conscientious," Anders tells CNBC Make It. They may have different habits, such as dress code preferences or desires of the location where they work, "but from what we're seeing, Gen Z's commitment to delivering good work is as intense as any other generation."
Persons: they're, George Anders, LinkedIn's, Anders Organizations: CNBC Locations: U.S
The company says it needs to bring Taiwanese workers to Arizona to get construction back on track. But construction of TSMC's first Arizona factory, which began in the Phoenix area in 2021, has run into some hiccups. "Replacing Arizona's construction workers with foreign construction workers directly contradicts the very purpose for which the CHIPS Act was enacted – to create jobs for American workers," the petition says. The degree to which American workers can get the job done without additional assistance is up for debate. "It's easily the most unsafe site I've ever walked on," said Luke Kasper, a representative of the sheet metal workers union.
Persons: TSMC, that's, Biden, Mark Liu, Liu, It's, Luke Kasper, TMSC, Morris Chang, Chang, Kevin Xu Organizations: Service, Taiwan Semiconductor Manufacturing Company, Arizona Pipe, Google, Facebook, YouTube Locations: Arizona, An Arizona, Wall, Silicon, China, TSMC's, Phoenix, Taiwan, TSMC, Asia
The organization will no longer be granting money toward educational policy, a big part of CZI's work since its founding, the emails said. As part of its "refreshed strategy," CZI said it is "transitioning" how it supports Summit Learning. The new strategy, laid out to CZI's roughly 500 employees, is to find new education products. Politics was one of its founding areas of work, alongside education and the eradication of all disease. "I give it two more years," one of the people familiar said of CZI's current education work.
Persons: Zuckerberg, Chan, Mark Zuckerberg, Priscilla Chan, Chan Zuckerberg, CZI, Sandra Liu Huang Organizations: Chan Zuckerberg Initiative, Meta, Facebook, Summit, Summit Public Schools, National Education Policy Center, University of Colorado Locations: CZI, California, Washington, Boulder
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Persons: Dow Jones
New Cambodian cabinet to feature children of the powerful
  + stars: | 2023-08-11 | by ( ) www.reuters.com   time to read: +2 min
Hun Manet, son of Cambodia's Prime Minister Hun Sen, looks on at the final Cambodian People's Party (CPP) election campaign for the upcoming general election in Phnom Penh, Cambodia, July 21, 2023. REUTERS/Cindy Liu/File PhotoAug 11 (Reuters) - Outgoing Cambodian Prime Minister Hun Sen has unveiled a list of people expected to feature in a new cabinet, including several sons and daughters of close allies and serving ministers. The rubber-stamp parliament is set to approve the new prime minister and cabinet on Aug. 22. While giving up the job of prime minister, Hun Sen looks set to remain engaged with government. This week, Hun Sen announced that Khuon Sodary had been designated as president of the National Assembly, the first woman to hold the position.
Persons: Hun Manet, Cambodia's, Hun Sen, Cindy Liu, Cham, Sar Sokha, Sar, Seiha, Tea, Hun Sen's, Khuon Sodary, Kanupriya Kapoor, Robert Birsel Organizations: Cambodian People's Party, REUTERS, Cambodian, World Bank, National Assembly, Reuters, Thomson Locations: Phnom Penh, Cambodia
A majority, 81%, of workers say they'd be more productive if they were given the chance to work a four-day workweek, and it could be an even bigger boost for those facing high rates of burnout, according to new research. Workers in fields with notoriously high rates of burnout were the most likely to say they'd get more done if they were able to shift to a four-day schedule: health-care workers, teachers, and retail and hospitality professionals. Participants in global four-day workweek experiments say the new arrangement led to reduced burnout, as well as benefits for their health, finances and relationships. Meanwhile, those in legal, accounting and finance roles say a shortened week would not boost their productivity. By gender, women (88%) were more likely than men (75%) to say they'd get more done from a shorter workweek.
Persons: Aaron Terrazas, Terrazas, Warren Buffett Organizations: Glassdoor, Workers, CNBC
[1/2] A general view of the sun rising behind the White House in Washington, U.S. January 22, 2021. REUTERS/Jonathan Ernst/File PhotoWASHINGTON, Aug 11 (Reuters) - President Joe Biden's comment about China being a "ticking time bomb" referred to internal economic and social tensions that could have an effect on how Beijing interacts with the world, a White House official said Friday. Kirby defended the funding request, saying, "Yes, this is an urgent need for us to be able to provide an alternative." Biden told donors: "China is a ticking time bomb ... China is in trouble. Liu said China's GDP growth continued to provide an important support for the development of the global economy.
Persons: Jonathan Ernst, Joe Biden's, John Kirby, Kirby, Liu Pengyu, Biden, Liu, We've, Xi Jinping, Andrea Shalal, Michael Martina, Chris Reese, David Gregorio Our Organizations: White, REUTERS, Reuters, China's National Bureau, Statistics, Thomson Locations: Washington , U.S, China, Beijing, Utah, Washington, United States, India
The United States has described the stopovers as routine and no reason for China to take "provocative" action. Neither Taiwan nor the United States have given details of Lai's schedule on his stopovers. That includes the prospect of a visit to the United States by Chinese Foreign Minister Wang Yi, which could pave the way for a meeting between U.S. President Joe Biden and Chinese President Xi Jinping. Taiwan believes the scale of the exercises could be smaller than those in April, the Taiwanese official said. Chinese state television this month ran an eight-part series on the People's Liberation Army, some of which focused on Taiwan.
Persons: William Lai's stopovers, Lai, Tsai Ing, Kevin McCarthy, Biden, Wang Yi, Joe Biden, Xi Jinping, China, Jeff Liu, Yimou Lee, Ben Blanchard, Liz Lee, Michael Martina, Robert Birsel Organizations: United, House, Taiwan Affairs Office, People's Liberation Army, China's Eastern Theatre Command, Reuters, Chinese Foreign, American Institute, The U.S . State Department, Thomson Locations: TAIPEI, China, Taiwan, United States, U.S, Beijing, Los Angeles, Taiwan Strait, New York, Paraguay, San Francisco, stoke, Virginia, The, Taipei, Washington
In a new study, researchers gave 14 AI models a political compass test and graphed the data. OpenAI's ChatGPT and GPT-4 were the most liberal, Meta's LLaMA was the most conservative, and Google's BERT models were in between. OpenAI's ChatGPT, Google's LaMDA AI model, and other chatbots have been criticized for sometimes giving racist, sexist, and otherwise biased responses. A political compass graph from the study shows how each AI model is biased. OpenAI cofounder and president Greg Brockman has said in response to criticisms of ChatGPT's left-leaning political bias, "we made a mistake."
Persons: BERT, OpenAI's, Shangbin Feng, Chan, Yuhan Liu, Yulia Tsvetkov, RoBERTa, Meta, Steven Piantadosi, Sam Altman, ChatGPT, Joe Biden, Donald Trump, Greg Brockman, ChatGPT's, Brockman, Elon Musk, OpenAI, OpenAI —, Musk Organizations: Morning, University of Washington, Carnegie Mellon University, Xi'an Jiaotong University, OpenAI, Google, UC Locations: Xi'an, North Korea, Syria, Iran, Sudan
Temu's sister company Pinduoduo may have a "9127" culture, Bernstein analysts wrote. This is a play on "996" work culture, which encourages work from 9 a.m. to 9 p.m., six days a week. Temu sister company Pinduoduo is known for having an exceptionally intense workplace culture, Bernstein analysts wrote in a note published this week. "996" is a reference to a work culture that encourages tech employees to work from 9 a.m. to 9 p.m., six days a week. While Shein remains ahead of Temu in terms of buyer awareness, Temu sees high buyer retention rates, the Bernstein analysts noted.
Persons: Temu's, Bernstein, Temu, Jack Ma, Richard Liu Qiangdong, Robin Zhu, Pinduoduo, Shein Organizations: Morning, PDD Holdings, Pinduoduo, Representatives, Local Locations: China, Shanghai
A Midea company sign is seen at the Appliance and Electronics World Expo (AWE) in Shanghai, China March 23, 2021. REUTERS/Aly Song/File PhotoAug 9 (Reuters) - Chinese home appliance maker Midea Group (000333.SZ) said on Wednesday it is studying a potential listing in Hong Kong as part of its global strategy. The new shares to be issued would account for no more than 10% of enlarged capital, Midea, already listed in the Shenzhen stock exchange, said in a filing. Midea's market capitalisation was $56.47 billion before the listing plan was made public, meaning a deal of up to 10% would be one of the largest listings in Hong Kong since 2021. The initial filing to the Hong Kong Stock Exchange would be made this year, with a likely share sale sometime in 2024, one of the sources added.
Persons: Aly, Midea, Scott Murdoch, Roxanne Liu, Kane Wu, Jason Neely, Gerry Doyle Organizations: Appliance, Electronics, REUTERS, Midea, Bank of America, China International Capital Corp, HK, Hong Kong Stock Exchange, Thomson Locations: Shanghai, China, Hong Kong, Midea, Shenzhen, Sydney
"The situation is already very bad for dollar-based funds to invest in China's tech sector. There isn't much room for things to get worse," said Beijing-based China Growth Capital partner Wayne Shiong. Biden's move will likely make China-focussed venture capital firms feel more urgency to raise yuan funds from Chinese investors, he said. In response to Biden's executive order, China's commerce ministry said it was "gravely concerned" and reserved the right to take countermeasures. But the executive order is barely going to do anything, and China escalating would risk turning a molehill into a mountain."
Persons: Florence Lo, Joe Biden's, Donald Trump, Weiheng Chen, Wilson Sonsini, Biden, Chen, Wayne Shiong, Biden's, Yuan, Pan, Trump, Derek Scissors, Kane Wu, Michael Martina, Roxanne Liu, Ziyi Tang, Yantoultra, Sumeet Chatterjee, William Mallard Organizations: REUTERS, U.S, Reuters Graphics Reuters, China Growth Capital, Chinese Academy of Social Sciences, TECH, Hua Hong Semiconductor, Analysts, American Enterprise Institute, Thomson Locations: China, U.S, HONG KONG, WASHINGTON, Beijing, Washington, Shanghai, Hong Kong, Singapore, Bengaluru
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