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☆ Here's the 21-page pitch deck that Slope, a fintech looking to upend B2B payments, used to score $30 million from investors like OpenAI's Sam Altman
▼ + stars: | 2023-10-13 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

Lin Murata worked at the business growing up, doing everything from sales to filing paperwork to working the cash register. "My parents, they're very old school, and all the existing solutions were excruciating to use, and we realized there was a real need for a frictionless B2B payments solution," said Lin Murata. It's a tall order to digitize B2B payments — companies ranging from middle-market companies and mom-and-pop shops have been notoriously hard to penetrate and spur technological change. Of the $125 trillion market for global B2B payments, only a fraction of transactions — less than $6 trillion according to Slope's pitch deck — occur online. The latest investment brings Slope's total funding to $187 million, with $62 million in equity and $125 million in debt capital.

Persons: Lawrence Lin Murata, Lin Murata, Alice Deng, Deng, Sam Altman, OpenAI's Sam Altman Organizations: Union Square Ventures, OpenAI's Locations: China, Brazil, Slope's

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Persons: Dow Jones Locations: israel

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☆ U.S. Families With Loved Ones Missing in Israel Turn to Washington for Help
▼ + stars: | 2023-10-11 | by ( Chao Deng | David S. Cloud | ) www.wsj.com time to read: 1 min

TEL AVIV—As American families desperately try to find loved ones missing in Israel after a deadly attack by the militant group Hamas, many relatives are pressing Washington to take steps to bring them home safely while some others are going out themselves to search for them.

Organizations: Hamas, Washington Locations: TEL AVIV, Israel

☆ China to double size of space station, touts alternative to NASA-led ISS
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Florence Lo/File Photo Acquire Licensing RightsBEIJING, Oct 5 (Reuters) - China plans to expand its space station to six modules from three in coming years, offering astronauts from other nations an alternative platform for near-Earth missions as the NASA-led International Space Station (ISS) nears the end of its lifespan. The operational lifetime of the Chinese space station will be more than 15 years, the China Academy of Space Technology (CAST), a unit of China's main space contractor, said at the 74th International Astronautical Congress in Baku, Azerbaijan, on Wednesday. At 180 metric tons after its expansion to six modules, Tiangong is still just 40% of the mass of the ISS, which can hold a crew of seven astronauts. Russia, a participant in the ISS, has similar space diplomacy plans, suggesting that Moscow's partners in the BRICS group - Brazil, India, China and South Africa - could construct a module for its space station. Roscosmos, the Russian space agency, said last year it was planning to build a space station comprising six modules that could accommodate up to four cosmonauts.

Persons: Fei Junlong, Deng Qingming, Zhang Lu, Florence, Tiangong, Ryan Woo, Gerry Doyle Organizations: REUTERS, Rights, NASA, Space, China Academy of Space Technology, International Astronautical, European Space Agency, ESA, Global Times, U.S, Thomson Locations: Beijing, China, Rights BEIJING, Baku, Azerbaijan, European, U.S, United States, Russia, Brazil, India, South Africa, Russian

☆ Arrests and Handouts: How Egypt’s Sisi Is Engineering Another Election Victory
▼ + stars: | 2023-10-03 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

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Persons: Dow Jones Locations: africa, libya

☆ Libya's Deadly Flood Leaves a City Shaken
▼ + stars: | 2023-09-25 | by ( Moises Saman | Chao Deng | ) www.wsj.com time to read: 1 min

The catastrophe overwhelmed aid and rescue workers, who worked around the clock to pull out survivors and the dead. Humanitarian experts and officials estimate more than 6,000 are dead and more than 10,000 missing.

But the executive transition does not settle another potential power play that could occur upon Rupert Murdoch’s death, as framed by a document called the Murdoch Family Trust. It is the vehicle through which the elder Murdoch controls News Corp and Fox Corp, through a roughly 40% stake in voting shares of each company. The Murdoch Family Trust has eight votes: four of which are controlled by Murdoch, and the remaining four controlled by the four children from his first two marriages. Upon succession, the four older children will equally inherit Murdoch’s voting shares in the trust, according to Alice Enders, Head of Research at Enders Analysis. The shares in Fox and News Corp owned by Murdoch’s children through the trust are a combination of both classes of shares.

Persons: Rupert Murdoch, Lachlan, Mike Blake, Lachlan Murdoch, Rupert Murdoch’s, Murdoch, Prudence, Elisabeth, James –, Murdoch’s, Chloe, Grace, Wendi Deng, Alice Enders ,, “ It’s, ”, Enders, “, Helen Coster, Stephen Coates Organizations: Fox Executive, Allen, REUTERS, News Corp, Corp, Fox Corp, Trust, The, Alice Enders , Head, Research, Enders Analysis, Fox, Thomson Locations: Sun Valley , Idaho, Murdoch, The Reno , Nevada, Melbourne, New York

☆ More 120° Days Are Coming. Outdoor Workers Aren’t Ready.
▼ + stars: | 2023-09-22 | by ( Chao Deng | Photographs Huda Abdulmughni For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Daber’s go-to method to cool down is sticking his head over the icebox. He also keeps a blue towel in there to wipe his sweat and chill his eyes. “I pray to God,” he said. He also relies on his friend who works in an air-conditioned electronics store opposite when things get too much.

Persons: Daber’s, ”

His son, Lachlan Murdoch, will become the sole chairman of News Corp and continue as the chair and CEO of Fox, the companies said on Thursday. The transition solidifies Lachlan's role as the leader of the media empire, putting to rest questions of succession within the Murdoch family. Lachlan was appointed CEO of the new Fox Corp. Murdoch controls News Corp and Fox Corp through a Reno, Nevada-based family trust that holds a roughly a 40% stake in voting shares of each company. The shares in Fox and News Corp owned by Murdoch’s children through the trust are a combination of both classes of shares.

Persons: Rupert Murdoch, Rafael Nadal, Kevin Anderson of, Mike Segar, Lachlan Murdoch, Murdoch, Lachlan, Fox, Brian Wieser, James, Chloe, Grace, Wendi Deng, Jonathan Miller, Sumner Redstone, Ted Turner, John Malone, Miller, Helen Coster, Aditya Soni, Dawn Chmielewski, Krishna Chandra Eluri, Saumyadeb Chakrabarty, Nick Zieminski Organizations: Fox News, Fox Corp, News Corp, Fox, Dominion, Systems, Wall, Walt Disney Co, Lupa Systems, Corp, Thomson Locations: York, U.S, Kevin Anderson of South Africa, Australia, United States, American, Reno , Nevada, London, New York, Bengaluru, Dawn, Los Angeles

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Persons: Dow Jones, dfd573c9 Locations: libya

☆ Analysis: China's economic woes embolden calls for deeper reforms
▼ + stars: | 2023-09-21 | by ( Kevin Yao | ) www.reuters.com time to read: +6 min

Both camps argue their proposals should be treated with urgency by policymakers, ahead of the annual Central Economic Work Conference, an agenda-setting gathering of top leaders expected in December. The pro-reform camp is beating the drum for faster structural reforms, including relaxing the system of residence permits, or "hukou", to spur consumption, removing market entry barriers for private firms at the cost of state giants. Reforms are urgently needed as growth engines such as property, exports and infrastructure are stalling, he said. Structural reforms with expansionary effects can also have immediate effects." TIGHTROPEDespite the heated debate, analysts expect Chinese leaders can walk a tightrope between stimulus and reforms.

Persons: Tingshu Wang, Yu Yongding, Yu, Kristalina Georgieva, Liu Shijin, Liu, It's, Tao Wang, Deng Xiaoping, Yi Xianrong, Kevin Yao, Sam Holmes Organizations: Central Business, REUTERS, Economic Work Conference, Reuters, International Monetary Fund, Fund, UBS, Asian Development Bank, Qingdao University, Thomson Locations: Beijing, China, BEIJING, China's, United States

Over the years, Murdoch's family has also risen into the spotlight — accompanied by stories of vindictive business tactics and inter-family rivalries. WHO IS LACHLAN MURDOCH? Lachlan has been CEO for Fox Corp. since 2019, following Disney's acquisition of 21st Century Fox. Lachlan rose to executive ranks of the family business, then known collectively as News Corp, in the 1990s and early 2000s. James Murdoch is Lachlan's younger brother, also among the children from their father's second marriage.

Persons: Rupert Murdoch, Lachlan, Murdoch, Australia —, James, Elisabeth, Prudence, ” Murdoch, LACHLAN MURDOCH, Lachlan Murdoch, Anna, —, Fox's, Roger Ailes, JAMES MURDOCH, James Murdoch, James —, ” James, Murdochs, ELISABETH MURDOCH, Elisabeth Murdoch, Murdoch's, PRUDENCE MURDOCH MACLEOD, Prudence Murdoch MacLeod, Patricia, Prudence didn’t, CHLOE MURDOCH, Grace, Chloe Murdoch, Rupert Murdoch’s, Wendi Deng, Chloe, Kathryn Murdoch Organizations: — Media, Monday, Fox News, News Corp, HBO, Fox Corp, Fox, Century Fox, Fox Television, New York, CNN, Illyria Pty, WHO, News . Corp, Street Journal, Harvard University, Rawkus Records, Star India, Sky, British Sky Broadcasting, Sky Networks, Shine, Endemol, Times Newspapers, News UK, Yale University, Stanford University, AP Locations: Adelaide, Australia, U.S

☆ China's economic woes embolden calls for deeper reforms
▼ + stars: | 2023-09-21 | by ( Kevin Yao | ) www.reuters.com time to read: +6 min

Structural reforms with expansionary effects can also have immediate effects." TIGHTROPEDespite the heated debate, analysts expect Chinese leaders can walk a tightrope between stimulus and reforms. Rob Subbaraman, chief economist at Nomura, said short-term stimulus would spur growth but at the cost of worsening structural distortions. Meanwhile, structural reforms would bring short-term pain and take longer to boost activity, but produce higher quality, sustainable growth over time. "China needs both, whereas it is where it is now because historically it's relied more on policy stimulus than on the harder structural reforms," he said.

Persons: Tingshu Wang, Yu Yongding, Yu, Kristalina Georgieva, Liu Shijin, Liu, It's, Rob Subbaraman, Deng Xiaoping, Yi Xianrong, Kevin Yao, Sam Holmes Organizations: Central Business, REUTERS, Economic Work Conference, Reuters, International Monetary Fund, Fund, Nomura, Asian Development Bank, Qingdao University, Thomson Locations: Beijing, China, BEIJING, China's, United States

☆ Libya Storm’s Severity Caused in Part by Climate Change, Scientists Say
▼ + stars: | 2023-09-19 | by ( Chao Deng | Eric Niiler | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: libya

☆ Libya Protests Turn Violent as Flood Survivors Demand Accountability
▼ + stars: | 2023-09-19 | by ( Chao Deng | Summer Said | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: africa, libya

China’s Foreign Ministry said Beijing was “strongly dissatisfied” with Baerbock’s comments and “firmly opposes” them. “The remarks made by Germany are extremely absurd, seriously infringe on China’s political dignity, and are an open political provocation,” Chinese foreign ministry spokesperson Mao Ning said at a regular news briefing on Monday. The Chinese Foreign Ministry often leaves out content it deems sensitive from the transcripts of its regular briefings. In June, US President Joe Biden also referred to Xi as a “dictator,” sparking a fierce backlash from Beijing. As a result of this and China’s political decisions, we need to change our approach to China,” the paper said.

Persons: Xi, ”, Berlin’s, Annalena Baerbock, “, Putin, Germany’s, Patricia Flor, Mao Ning, Xi –, Joe Biden, Jiang Zemin, Mike Wallace, Jiang, Deng Xiaoping, Mao Zedong’s, Angela Merkel, Baerbock Organizations: CNN, Fox News, China’s, Ministry, Chinese Foreign Ministry, CBS, South China, Germany’s Greens Locations: China, Germany, United States, Ukraine, Beijing, Berlin, Moscow, Taiwan, South, “ China, Australian

☆ Turbulence in China’s top ranks raises questions about Xi Jinping’s rule
▼ + stars: | 2023-09-19 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

Defense Minister Li Shangfu has not been seen in public for three weeks, sparking speculation he is under investigation. Both Li and Qin serve among China’s five state councillors, a senior position in the cabinet that outranks a regular minister. Li also sits on the Central Military Commission, a powerful body headed by Xi that commands the armed forces. China's Defence Minister Li Shangfu gives a speech during the Moscow Conference on International Security on August 15. Last week, as speculation mounted over the whereabouts of the defense minister, Xi called for unity and stability within the military during an inspection in China’s northeast.

Persons: China’s, Li Shangfu, Weeks, Qin Gang, Xi, Li, Qin, outranks, “ What’s, ”, Drew Thompson, Xi Jinping, James Char, Lloyd Austin, Alexander Nemenov, Xi’s, Deng Yuwen, ” Rahm Emanuel, Agatha Christie’s, “, –, Craig Singleton, General Zhang Youxia, Zhang, He’s, Thompson, they’re, ” Thompson, Mao Zedong, Char, …, ” Char, Jinping Organizations: Hong Kong CNN —, Defense, Foreign, Central Military Commission, People’s Liberation Army Rocket Force, Wall Street Journal, Communist Party, National University of Singapore, Rajaratnam, of International Studies, Belarus ’, US, Singapore’s Navy, China's, Conference, International Security, Getty, Twitter, Foundation for Defense of Democracies, Washington DC, Development Department, Rocket Force, Equipment Development Department Locations: China, Hong Kong, United States, Washington, Beijing, Singapore, Moscow, Belarus, Minsk, AFP, Japan, Soviet, Sichuan, “

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Persons: Dow Jones Locations: africa, libya

☆ These Workers Toiling in 120-Degree Heat Are on Front Lines of Climate Change
▼ + stars: | 2023-09-17 | by ( Chao Deng | Photographs Huda Abdulmughni For The Wall Street Journal | ) www.wsj.com time to read: 1 min

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☆ Top Egyptian Journalist Jailed Ahead of Elections
▼ + stars: | 2023-09-17 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

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☆ Some foreign finance execs in China spending nearly a third of their working time studying 'Xi Thought,' report says
▼ + stars: | 2023-09-17 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

The study of 'Xi Jinpeng Thought' in state-owned Chinese companies has been mandated. But now employees of foreign firms are being pulled into the 'study sessions' as well. First published in 2017, Xi Jinping thought lays out 14 principles by which China will prosper. China's President Xi Jinping Lintao ZhangIn addition to the pressure to study of Xi's doctrine, new laws have limited international banks' abilities to operate as normal in China. "Foreigners and foreign organisations in mainland China shall comply with Chinese law and must not endanger China's national security, harm the societal public interest, or undermine societal public order,'" the law states, per The FT.

Persons: Franklin Templeton, Xi, Xi Jinping, Mao Zedong, Deng Xiaoping, Jiang Zemin, Xi Jinping Lintao Zhang Organizations: CCP, Service, Blackrock, Bloomberg, BlackRock, Marxist, Deloitte Locations: Wall, Silicon, China

☆ After Morocco Earthquake, Wiped-Out Villages Lose Hope of Rebuilding
▼ + stars: | 2023-09-13 | by ( Chao Deng | Photographs Myriam Meloni For The Wall Street Journal | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: africa, morocco

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Persons: Dow Jones Locations: africa, libya

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