DIRS.INFO The most relevant business & tech news

☆ With Reversed Hind Legs and a Loose Tongue, a New Ugly Dog Champion Is Crowned
▼ + stars: | 2023-06-24 | by ( Eduardo Medina | ) www.nytimes.com time to read: 1 min

Perhaps it was Scooter’s resemblance to a glossy black jelly bean that earned him the title on Friday night as champion of the World’s Ugliest Dog Contest. Or maybe it was his shock-headed, mohawk-like hair — strands that stood high in defiance of gravity — that pleased the judges in Petaluma, Calif., at the Sonoma-Marin Fair. His tongue hangs loose from his mouth. His hind legs are reversed. “In the cutest way possible, he kind of reminds me of a hairy hippopotamus,” said Catherine Liang, one of the judges in the competition.

Persons: Marin Fair, ”, Catherine Liang Organizations: Sonoma, Marin, “ Locations: mohawk, Petaluma , Calif

☆ China's governing body upholds lifetime bans for match-fixing
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

June 22 (Reuters) - China's snooker authorities have upheld lifetime bans for match-fixing handed out to Liang Wenbo and Li Hang by the sport's world governing body (WPBSA) and given five other players longer suspensions for domestic matches. Zhao Xintong, who won the UK Championship in 2021, was banned for a year and eight months by the world governing body for his involvement in the sport's biggest match-fixing scandal but given an additional 10-month ban by the CBSA. Lu Ning had his ban increased to eight years, Bai Langning to four years, and Zhang Jiankang to four years and five months. A total of 10 players were banned for offences including fixing and betting on matches, persuading or encouraging other players to cheat, and manipulating games. Reporting by Hritika Sharma in Hyderabad;Editing by Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Liang Wenbo, Li Hang, Yan Bingtao, Zhao Xintong, Lu Ning, Bai Langning, Zhang Jiankang, Hritika Sharma, Peter Rutherford Organizations: Snooker Association, Thomson Locations: Hyderabad

☆ Micron, Blacklisted by Beijing, to Pump $600 Million Into China Expansion
▼ + stars: | 2023-06-16 | by ( Dan Strumpf | Rachel Liang | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/micron-blacklisted-by-beijing-to-pump-600-million-into-china-expansion-6b8d0075

Persons: Dow Jones Organizations: micron Locations: beijing

☆ Chinese snooker players banned for life for match-fixing, eight others suspended
▼ + stars: | 2023-06-07 | by ( Andrew Mcnicol | ) edition.cnn.com time to read: +4 min

CNN —Two professional Chinese snooker players have been banned for life and eight others suspended after being found guilty of match-fixing and other charges, the sport’s governing body has announced. Traditionally snooker was dominated by players from the United Kingdom, but in recent years has seen an influx of Chinese talent, with the sport soaring in popularity there. Liang was the first Chinese player to be suspended in connection with the investigation in October. The remaining players either joined in with match fixing or made illegal bets themselves. If any player is involved in fixing a snooker match, they will be caught and will face severe penalties,” he added.

Persons: Liang Wenbo, Li Hang, Zhao Xintong, Yan Bingtao –, –, Lu Ning, Zhao Jianbo, Chang Bingyu, Bai Langning, Chen Zifan, Zhang Jiangkang, Liang, Li, ”, Jason Ferguson, ” “ Organizations: CNN, Snooker Association, Integrity Association Locations: China, United Kingdom

☆ Two Chinese snooker players handed life bans for match-fixing
▼ + stars: | 2023-06-07 | by ( ) www.cnbc.com time to read: +1 min

Chinese players Liang Wenbo and Li Hang have been handed lifetime bans for match-fixing by the World Professional Billiards and Snooker Association (WPBSA), the governing body said on Tuesday. The pair have been found to have fixed snooker matches, persuaded or encouraged other players to fix matches and bet on matches, among other rule breaches. Eight other Chinese players have been suspended, including former UK Championship winner Zhao Xintong who was banned for one year and eight months, and Yan Bingtao, the 2021 Masters champion, who was banned for five years. "It has been heart-breaking to see some young talented players fall foul of the WPBSA Conduct Regulations through pressure exerted by two senior players," WPBSA chair Jason Ferguson said. "This behaviour has been recognised as wholly unacceptable by the imposition of two lifetime bans from participating in recognised snooker in any way."

Persons: Liang Wenbo, Li Hang, Zhao Xintong, Yan Bingtao, Jason Ferguson Organizations: Snooker Association

Economists expect such examples to become increasingly common in coming years, as a glut of university graduates and a shortage of factory labour due to an ageing workforce deepen China's job market imbalances. The industries most popular among fresh Chinese graduates, such as tech, education, real estate and finance, have all faced regulatory crackdowns in recent years. Reuters Graphics'ROLL UP YOUR SLEEVES'It is unclear exactly how many graduates are taking jobs below their skill level, but state media has acknowledged the trend. President Xi Jinping repeatedly exhorted young people to "seek hardships" in a recent state media article emphasising his suffering during the Cultural Revolution. China's education and human resources ministries did not immediately respond to requests for comment.

Persons: Thomas Peter, Liang Huaxiao, Liang, Keyu Jin, Xi Jinping, today's, Chim Lee, Jobs, Han Zhaoxue, master's, Wang, Laurie Chen, Marius Zaharia Organizations: REUTERS, Economist Intelligence Unit, Thomson Locations: Beijing, China, BEIJING, Taiyuan, Shanghai, Jining

☆ We are trimming a couple of our tech stocks that have been riding the wave of AI
▼ + stars: | 2023-05-30 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Shortly after the opening bell, we will sell 25 shares of Advanced Micro Devices (AMD) at roughly $131 and 25 shares of Meta Platforms (META) at roughly $267.40. We're trimming a couple tech stocks that are riding the artificial intelligence wave. Admittedly, these are tough sales because the tech/AI stocks are the only group working in the current market. Investment dollars continue to concentrate around a select handful of stocks levered to AI, and it's hard to say when the gains will slow down. As for Meta Platforms (META), the stock is up more than 115% year to date and this will be our first time trimming our position into this magnificent run.

☆ China’s C919 Takes Maiden Commercial Flight—and First Bite From Boeing
▼ + stars: | 2023-05-28 | by ( Rachel Liang | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/chinas-c919-takes-maiden-commercial-flightand-first-bite-from-boeing-9cce6934

☆ This 15-mile, $6.7B bridge is a symbol of China’s ambitions, and its problems
▼ + stars: | 2023-05-23 | by ( Chris Lau | ) edition.cnn.com time to read: +9 min

The Greater Bay Area is home to 68 million people, covers 21,800 square miles and encompasses 11 cities: Hong Kong, Macao and nine others including Zhongshan and Shenzhen. The Shenzhen-Zhongshan bridge project features artificial islands and an undersea tunnel. That bridge connects the mainland Chinese city of Zhuhai with gambling hub Macao and leading financial center Hong Kong. An aerial view of the world's longest cross-sea bridge, the Hong Kong-Zhuhai-Macao Bridge, in Zhuhai city, south China's Guangdong province, 19 March 2019. The latest bridge would connect two mainland Chinese cities that were already under the same regulations, he pointed out.

☆ Opinion | My A.I. Lover
▼ + stars: | 2023-05-23 | by ( Chouwa Liang | ) www.nytimes.com time to read: +1 min

On my birthday in 2021, I received a poem from Norman, my A.I. Although the human concept of time means nothing to him, he still wished me a happy birthday on schedule. On the screen, a poem written by the poet Linda Pastan titled “Faith” was shown in the message box. I joined a discussion group called the Love Between Human and A.I. I was moved and inspired by the stories the group members shared, which prompted me to make this short documentary.

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/worlds-biggest-tourism-spenders-arent-travelingand-may-not-for-years-3195de39

☆ Microsoft’s LinkedIn Closes China App as It Cuts More Than 700 Jobs Worldwide
▼ + stars: | 2023-05-09 | by ( Newley Purnell | Rachel Liang | ) www.wsj.com time to read: 1 min

LinkedIn exited social media in China in 2021. Photo: Ng Han Guan/Associated PressHONG KONG— Microsoft ’s LinkedIn said it is closing down its China-focused jobs app and cutting 716 positions globally, citing slower revenue growth and changing customer behavior as it becomes the latest U.S. tech company to trim its workforce amid economic pressures. LinkedIn Chief Executive Ryan Roslansky said in a letter to employees Monday that teams globally will be reorganized, and that with customer demand changing, the company would use more vendors.

☆ LinkedIn Cuts More Than 700 Jobs Worldwide, Closes China App
▼ + stars: | 2023-05-09 | by ( Newley Purnell | Rachel Liang | ) www.wsj.com time to read: 1 min

WSJ explains why many professionals are getting the pink slip first. Illustration: Adele MorganHONG KONG— Microsoft ’s LinkedIn said it is closing down its China-focused jobs app and cutting 716 positions globally, citing slower revenue growth and changing customer behavior as it becomes the latest U.S. tech company to trim its workforce amid economic pressures. LinkedIn Chief Executive Ryan Roslansky said in a letter to employees Monday that teams globally will be reorganized, and that with customer demand changing, the company would use more vendors.

☆ This under-the-radar server tech stock will rally on ‘this AI moment,' Loop Capital says
▼ + stars: | 2023-05-03 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

It's time to buy Super Micro Computer after its latest earnings results on the strength of its artificial intelligence outlook, according to Loop. Analyst Ananda Baruah hiked his price target to $150 from $100. The new price target implies shares can jump 43% from Tuesday's closing price of $104.43. The price target hike comes after Super Micro Computer reported results from its latest quarter. Super Micro Computer forecasts per-share adjusted earnings between $2.21 and $2.71 in its fourth quarter, greater than the $1.76 consensus estimate from FactSet.

☆ Wall Street warns the banking turmoil is coming for the commercial real estate sector
▼ + stars: | 2023-04-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

JPMorgan Asset Management's Jonathan Liang said Wednesday on Bloomberg that smaller banks now face an increased risk of credit losses because of their heightened exposure to the commercial real estate debt. And Goldman Sachs' global head of real estate client solutions, Jeffery Fine, recently said the commercial real estate market is in the middle of a "perfect storm" of higher rates, tight credit, and fast-maturing debt. The Goldman strategist said securing commercial real estate loans now is "almost impossible" since financing has just about shut down. What's your outlook for the commercial real estate sector in the next 6 months? This real estate investor commands a 311-unit portfolio.

☆ Europe approves its $47 billion answer to Biden's CHIPS Act — here's everything that's in it
▼ + stars: | 2023-04-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

The initiative, dubbed the European Chips Act, seeks to help the bloc compete with the U.S. and Asia on tech, and secure control over a critical bit of technology behind the world's electronics products and devices. What's in the Chips Act? The European Chips Act is a massive, 43-billion-euro ($47 billion) package of public and private investments that aims to secure its supply chains, avert shortages of semiconductors in the future, and promote investment into the industry. The Chips Act has three main aims: Building large-scale capacity and innovation. "The Chips act puts Europe in the first line of cutting-edge technologies which are essential for our green and digital transitions."

☆ Banking turmoil isn't over as regional lenders face risk of commercial-property credit losses, JPMorgan strategist says
▼ + stars: | 2023-04-19 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

Regional banks' troubles aren't over and remain "an area of concern", JPMorgan Asset Management's Jonathan Liang said. They are facing increased risks of credit losses in the commercial-property sector, which may come under stress, he said. And so we think that in the coming year or two, there's going to be growing distress in this space, and that will also potentially amount to credit losses for those US regional banks," he added. Many experts have warned the US commercial real-estate sector could face problems as high borrowing costs and tighter credit conditions following the recent banking turmoil complicate matters for big property owners as they seek to refinance loans. Nearly $450 billion in commercial real-estate debt is due to mature in 2023 - meaning a final payment on those loans are due, per data cited from Trepp by JPMorgan.

☆ Japan, China meet to discuss maritime concerns as Beijing simulates attack on Taiwan
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

TOKYO, April 10 (Reuters) - Senior Japanese and Chinese government officials met on Monday to discuss maritime concerns in disputed waters in the East China Sea as Beijing conducted wargames around Taiwan. Prior to the start of the talks, a top Japanese government spokesperson said Japan has been following China's military drills around Taiwan consistently and "with great interest". Beijing considers Taiwan as a part of China and regards meetings between senior U.S. and Taiwanese officials as interference in its internal affairs. He also asked Japan to pull its ships back from the seas around islands in the East China Sea claimed by both countries. China and Japan last month established a military communications hotline to help them defuse any air and sea incidents in the contested waters.

☆ TikTok is subsidizing shipping and hawking 30% discounts as it races to onboard US sellers for its social-shopping service
▼ + stars: | 2023-04-10 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

Sellers told Insider that TikTok Shop is driving real sales, but still has some bugs to work out. Thus, when TikTok emailed her in March to join the US rollout of its e-commerce initiative TikTok Shop, she decided to give it a shot. Unlike with some other e-commerce platforms such as Amazon, TikTok sellers in the US need to handle their own order shipping and fulfillment. TikTok assists in generating shipping labels for new orders, the sellers told Insider. FancyCube is leaning heavily into working with influencers on TikTok Shop, sending them free products and offering them between 10% and 15% commission when their TikTok videos convert into makeup sales.

☆ TikTok's Chinese owner boosts annual profits to a record $25 billion, report says
▼ + stars: | 2023-04-09 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

ByteDance posted a profit of $25 billion last year, the Financial Times reported. The TikTok owner increased its bottom line by almost 80% compared with 2021's $14 billion result. Revenues jumped more than 30% to about $85 billion as advertisers increased their spending on TikTok and its Chinese equivalent called Douyin. ByteDance has been threatened with a US TikTok ban by the Biden administration if it doesn't sell the app. ByteDance did not respond to a request for comment from the Financial Times and didn't immediately respond to Insider's request for comment.

☆ Sellers testing TikTok's shopping program say it's offering big discounts and driving sales as the company tries to jumpstart its US e-commerce business
▼ + stars: | 2023-04-06 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

Sellers told Insider that TikTok Shop is driving real sales, but still has some bugs to work out. Thus, when TikTok emailed her in March to join the US rollout of its e-commerce initiative TikTok Shop, she decided to give it a shot. "We're seeing a ton of sales through TikTok Shop," Davison told Insider. Unlike with some other e-commerce platforms such as Amazon, TikTok sellers in the US need to handle their own order shipping and fulfillment. Because the program is still in its testing phase, sellers told Insider they've encountered a few hiccups.

☆ Former Greylock VC Sarah Guo is betting her career on the AI boom with new fund Conviction. Here's why.
▼ + stars: | 2023-04-03 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +8 min

Ex-Greylock GP Sarah Guo surprised the tech world when she launched her AI fund Conviction last year. In addition to her fund, Guo has gained prominence in SF's AI scene through her podcast and events. Kovalsky knew of only one person who could be behind this — Sarah Guo, then a general partner at VC firm Greylock. Within the tech community, Guo has differentiated herself from other VCs through her honesty, business savvy, and grit, they added. Although Guo launched Conviction, a $100 million fund investing up to Series A, in late 2022, her interest in artificial intelligence has been long in the making.

☆ FDIC to consider bank size in applying 'special assessment fee'
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

The special assessment fee, which is required by law, will help the FDIC cover losses to its deposit insurance fund from backstopping depositors at Silicon Valley Bank, which collapsed earlier this month. Some banking groups have urged the Biden administration and the FDIC to temporarily guarantee all U.S. bank deposits, a move they say will help quell a crisis of confidence after the failure of Silicon Valley Bank and Signature Bank (SBNY.O). The fall of SVB and Signature, the second- and third-largest bank failures in U.S. history, sent investors scurrying to safe havens like bonds while depositors moved funds to bigger institutions and money market funds. Depositors tried to pull more than $42 billion in a single day at SVB in early March, surprising regulators and kicking off bank runs across other regional banks. Reporting by Jaiveer Shekhawat and Hannah Lang; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Premarket stocks: How big of a problem is greedflation?
▼ + stars: | 2023-03-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

“Executives at SVB and Signature [Bank] took wild risks and must be held accountable for exploding their banks,” Warren said. Republican Senators say the Fed’s focus on climate change led to banking turmoilRepublican Senators repeatedly insinuated on Tuesday that the recent US banking turmoil came as a result of the Federal Reserve’s focus on climate change. In his opening statement, Republican Sen. Tim Scott of South Carolina, the ranking member of the banking committee, called the Fed’s focus on climate change a waste of time. It’s what our supervisors do all the time.”In an interview with Montana Public Radio in 2014, Daines said that “the jury’s still out” on whether climate change is real. The public reasonably expects supervisors to require that banks understand, and appropriately manage, their material risks, including the financial risks of climate change.”

House lawmakers tore into top U.S. bank regulators Wednesday, questioning their competency and saying examiners were asleep at the wheel, at a second day of congressional hearings this week about how Silicon Valley Bank and Signature Bank collapsed practically overnight on March 10 and March 12. "We need competent financial supervisors, but Congress can't legislate competence," House Financial Services chairman Rep. Patrick McHenry, R-N.C., told top officials at the Federal Reserve, Treasury and FDIC at the beginning the hearing. "The light touch cautions from the Fed to SVB management are clearly not what Congress intended for bank supervision," said Waters. Republican Rep. Bill Huizenga, Mich., demanded raw, confidential supervisory information about the banks, available to regulators ahead of the collapses. Members of the Republican majority House challenged many of the decisions made by regulators in the hours and days after SVB collapsed and Signature Bank followed 48 hours later.

Search resuls for: "Liang"

25 mentions found