DIRS.INFO The most relevant business & tech news

☆ What are 'full-time children'? Young adults in China are rejecting the rat race and getting paid by their parents to do chores while living at home
▼ + stars: | 2023-07-28 | by ( Haley Tenore | ) www.businessinsider.com time to read: +5 min

Some young adults in China are opting to work as "full-time children" in place of traditional careers. Full-time children are often paid by their parents to run errands, clean, and prepare food. In China, however, young people are turning this idea on its head and staying at home, working as "full-time children." China's notoriously grueling 996 culture, which entails 72-hour workweeks, and difficulty finding employment are some of the main contributors to the "full-time children" movement. In China, there are even social media groups devoted to the "full-time children" trend.

Persons: China's, it's, Julie, Jia Zhang, Zhang, Litsky Li, Li Organizations: BBC, NBC News, CNN, Census Bureau, Karma Locations: China

☆ What are 'full-time children'? Young people in China are rejecting the rat race and getting paid by their parents to do chores while living at home
▼ + stars: | 2023-07-28 | by ( Haley Tenore | ) www.businessinsider.com time to read: +5 min

Persons: China's, it's, Julie, Jia Zhang, Zhang, Litsky Li, Li Organizations: BBC, NBC News, CNN, Census Bureau, Karma Locations: China

☆ China's capital grapples with scorching summer heat
▼ + stars: | 2023-07-07 | by ( Nectar Gan | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Beijing’s temperature soared past 40 degrees Celsius (104 degrees Fahrenheit) again Thursday, as the Chinese capital grapples with what is shaping up to be one the most severe heat waves on record. China has been gripped by scorching heat waves for weeks, which authorities said had arrived earlier and been more widespread and extreme than in previous years. People shield themselves from the sun amid extreme heat on July 5, 2023 in Beijing. The persistent heat waves have put huge stress on the country’s power grids as demand for air-conditioning soared, with some local governments urging companies and residents to curb the usage of electricity. As the climate crisis intensifies, scientists say dangerous, record heat waves are set to become more frequent and more severe.

Persons: Tianyong Jia, heatstroke, Niño, El Organizations: Hong Kong CNN, heatstroke, China News Service, Beijing Daily, World Meteorological Organization, El Locations: Hong Kong, Beijing, China, Northern China, Hebei, Henan, Hunan, 17.18C

☆ 10 Things in Tech: Shopify's midlife crisis, how to land deals with brands, and Microsoft's former human resources vice president shares advice
▼ + stars: | 2023-06-29 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Also, please let me know what you want to see in Insider Today. Startup studios like Fractal think of startup ideas, then hire founders to execute the vision. But multiple Fractal founders say their businesses are on life support. Many of them think it's because of how startup studios structure terms and conditions for investing — they take a massive chunk of ownership. Investors also prefer when startup founders create the ideas themselves.

Persons: I'm, Siu, Chelsea Jia Feng, Melia Russell, Stephanie Palazzolo, Tyler Le, Shopify's, Chris Williams, Lindsay Noah, Vermillion, Jim Vermillion, Diamond Naga Siu, Alistair Barr, Hallam Bullock Organizations: Startup, Investors, Nike, Abercrombie, Amazon, OpenAI, Syracuse Land Bank, Leasing, Galactic, Space Station, Computing, Intel, Microsoft, MIT Locations: Tech, Syracuse , New York, Syracuse, New York, San Francisco, San Diego, Silicon Valley, London

☆ Blinken to fly to Beijing for high-stakes diplomacy after spy balloon saga
▼ + stars: | 2023-06-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

U.S. Secretary of State Antony Blinken boards his plane for travel to Berlin at Joint Base Andrews, Maryland, June 22, 2021. Andrew Harnik | Pool | ReutersBEIJING — U.S. Secretary of State Antony Blinken is set to travel to Beijing this weekend in his first trip to China under the Biden administration. watch now"And so I think that the administration's goals are, at this point unrealistic because of the way Beijing has framed its interest in its strategy." Its appearance had forced Blinken to indefinitely postpone his Beijing trip at the time. The U.S. recognizes Beijing as the sole government of China but maintains unofficial relations with Taiwan, a democratically self-governed island.

Persons: Antony Blinken, Andrew Harnik, Biden, Joe Biden, Xi Jinping, Scott Kennedy, Blinken, Matthew Miller, Drew Thompson, Lee, Thompson, they're, there's, TikTok, Kennedy, Jia Qingguo, Jia Organizations: Joint Base Andrews, Reuters, Reuters BEIJING —, U.S, Center for Strategic, International Studies, CNBC, U.S . Department of State, People's, U.S ., China's Ministry of Foreign Affairs, U.S . Defense Department, Lee Kuan Yew, of Public Policy, Congress, chipmaker Micron, Washington , D.C, Pacific Command, Peking University, Asia Vision Locations: Berlin, Joint Base Andrews , Maryland, Reuters BEIJING, Reuters BEIJING — U.S, Beijing, China, People's Republic of China, U.S, Singapore, Washington ,, Taiwan, South China, Taiwan Strait, Asia, Russian, Ukraine

☆ China eyes support for consumer, private sectors as growth falters
▼ + stars: | 2023-06-15 | by ( Kevin Yao | ) www.reuters.com time to read: +5 min

China's cabinet is soliciting proposals from economists and advisers, policy insiders told Reuters, with big changes needing approval from top party leaders, and investors now looking to an expected Politburo meeting in July for clues on policy direction. However, the modest borrowing cost cuts - limited by concerns over banks' profitability and currency stability - will not be enough to boost economic activity, policy insiders said. Authorities are also considering support for the ailing property sector after earlier measures failed to gain traction, including easing credit conditions and home buying curbs in some areas, policy insiders. Economists blame the fading recovery on the "scarring effects" caused by COVID and regulatory curbs on property and tech sectors, which have hit household and private sector spending. Supporting depressed private-sector firms, which account for 60% of economic output and 80% of urban employment, will be essential to lift incomes, jobs and consumption, policy insiders and analysts said.

Persons: Rory Green, Jia Kang, Kevin Yao, Sam Holmes Organizations: quicken, Reuters, People's Bank of China's, TS Lombard, China Academy of New, Economics, Thomson Locations: BEIJING, China, Beijing

☆ Young people in China are giving up high-paying jobs to become baristas and waiters, and they're talking about it online
▼ + stars: | 2023-06-14 | by ( Reena Koh | ) www.businessinsider.com time to read: +5 min

China's youth is giving up white-collar work for blue-collar work, and they're talking about it online. The hashtag "my first physical work experience" has over 30.4 million views as of June 12. "I realized this kind of physical work with a sense of participation actually provides nourishment for creation. Kong Yiji is a fictional character from a story written by Lu Xun, a leading figure in modern Chinese literature. That's because the young people posting on Xiaohongshu aren't locked out of the white-collar job market.

Persons: —, They've, they've, Kong Yiji, Lu Xun, aren't, Jia Miao Organizations: Service, CNBC, New York University Shanghai Locations: China, Xiaohongshu, Guangdong province, ByteDance, TikTok, Liaoning, Asia

☆ Syria's Kurds to begin trials for IS detainees
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +3 min

On Saturday, the Kurdish-led administration said in an online statement that it had decided to submit detainees to its own "open, free and transparent trials" following the international community's lagging response. The issue of foreign fighters is one of the most complex security and rights issues in Syria's 12-year war. A Western diplomat working on Syria told Reuters the administration's decision was a surprise. We take it very seriously that they are holding a lot of people – but this is a separate issue from trying them. The diplomat said such trials would need particularly high levels of security and that the risk of a breakout by IS fighters would become higher.

Persons: IS's, Badran Jia Kurd, Jia Kurd, Letta Tayler, It's, Orhan Qereman, Maya Gebeily, Frances Kerry Organizations: Islamic, Reuters, Human Rights, Thomson Locations: QAMISHLI, Syria, BEIRUT, Kurdish, U.S, Damascus, Canada, France, United Kingdom, Syrian, Qamishli, Beirut

☆ ‘These jobs can be respectable too’: Why youths in China are abandoning white-collar jobs for ‘light labor’
▼ + stars: | 2023-06-07 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +8 min

Such a switch from a white-collar job to "qing ti li huo" (or "light labor" in Chinese) is gaining popularity among younger people in the country. It was only in hindsight that Wang realized she never "personally wanted" to pursue her major, or be in a white-collar job. "I looked back and I realized it was because my parents told me to choose it, people told me that with this major I'd have a really, really great future," Wang said. She earned about 12,000 Chinese yuan ($1,700) a month in her white-collar job. But what may be priceless to her is the self-discovery Wang said she's been able to experience after walking away from her white-collar job.

Persons: Eunice Wang, I'd, Wang, Jia, they're, Jia Miao, Wu Xiaogang, Wu, That's, xiao bai, Miao, Eunice Wang Barista, Wu —, she's Organizations: NYU Shanghai, New York University Shanghai, CNBC, NYU Locations: China, Beijing, United States

☆ This Young Artist’s Works Capture the Agony and Ecstasy of Being Alive
▼ + stars: | 2023-05-15 | by ( Andrew Russeth | ) www.nytimes.com time to read: +1 min

Late one April night, the artist Liao Wen was in her studio in the southern Chinese city of Shenzhen, listing off the many instruments that she uses to make her astonishing art. “These are my chisels,” she said in a video interview, panning the camera about. “Chisels, chisels, chisels. They are alluring and frightening, psychologically fraught, and they have helped make her, at 29, “one of China’s most innovative young women artists,” as Wang Chunchen, the deputy director of the Central Academy of Fine Arts (C.A.F.A.) Art Museum in Beijing, and the curator-critic Jia Qianfan put it last year in Art in America magazine.

☆ Faraday Future starts EV production of FF 91 after months-long delay
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

March 29 (Reuters) - Faraday Future Intelligent Electric Inc (FFIE.O) said on Wednesday it has started production of its much-delayed first luxury electric car, FF 91 Futurist, at its California factory. "This shows that FF has entered a new phase under the governance and operation of the new board and management," founder YT Jia said in a statement. The FF 91 Futurist is expected to be offered in both the U.S. and China markets, with initial 2023 sales to begin in Los Angeles, San Francisco, New York, Shanghai and Beijing, the company said. Deliveries in the U.S. will begin at the end of April 2023, a spokesperson for Faraday Future told Reuters, but did not give details on who the first customers would be. Reporting by Yana Gaur and Jyoti Narayan in Bengaluru; Editing by Sherry Jacob-Phillips and Uttaresh VenkateshwaranOur Standards: The Thomson Reuters Trust Principles.

☆ Chinese doctor who blew the whistle on SARS dies at 91
▼ + stars: | 2023-03-15 | by ( Laurie Chen | ) www.reuters.com time to read: +3 min

BEIJING, March 15 (Reuters) - A Chinese military doctor who exposed the full extent of the SARS epidemic when it ripped through Beijing in 2003 has died at the age of 91, according to his friends and local media reports. Jiang Yanyong accused the government of deliberately underreporting the spread of the respiratory disease in an open letter sent to state media in 2003. News of his death was not reported in Chinese state media, as is the norm with politically sensitive public figures. Some media including the South China Morning Post said he died on Saturday of pneumonia, citing sources. SARS infected 8,908 people worldwide after emerging in the southern Chinese province of Guangdong, eventually killing 774, according to World Health Organisation data.

☆ VW's China JV with SAIC names Jia Jianxu as its new head
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] People visit the Volkswagen booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly SongSHANGHAI, Feb 20 (Reuters) - Volkswagen's joint venture with China's SAIC Motor (600104.SS) said on Monday it had appointed Jia Jianxu, a veteran executive at the state-owned Chinese automaker, as its new general manager. Since 2018, Jia has been the general manager at Yanfeng Automotive Interiors, a SAIC-owned vehicle seat maker, and helped develop its intelligent cockpit products. Jia's appointment comes as Volkswagen is ramping up its efforts in electric vehicles (EVs) in China, with its I.D. Reporting by Zhang Yan and Brenda Goh Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

HONG KONG/SHANGHAI, Feb 14 (Reuters) - Chinese chip design company Unisoc (Shanghai) Technologies Co is seeking to raise 10 billion yuan ($1.5 billion) in a new funding round that will value the firm at about 70 billion yuan ($10.3 billion), three people with knowledge of the deal told Reuters. Unisoc has approached several state-backed investment funds for the round, tapping increased local investor interest in China's domestic chip industry, which is gearing up to be more self-sufficient in the face of U.S. pressure, the people said. Unisoc is controlled by private equity firm Wise Road Capital, which took over the company in 2022 after Tsinghua Unigroup, its former parent company, faced bankruptcy. In its statement from Feb. 8, it added it had reached revenue of 14 billion yuan in 2022. A statement in July 2022 said it had revenue of 11.7 billion yuan in 2021.

☆ China's latest IPO reform unlikely to flood markets with new issuance, bankers say
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +4 min

Under the new system, China's stock exchanges will themselves vet IPOs with a focus on information disclosure. The reform was hailed by state media and analysts as a key milestone that would make China's IPO market more inclusive, transparent and efficient. "Paternalism and politics continue to play a big role" in the new IPO system, he said. STAR SYSTEMThe registration-based IPO system was first adopted by Shanghai's STAR Market when the tech-focused board was launched in 2019. The new IPO system was later rolled out to the start-up board ChiNext, and the Beijing Stock Exchange.

☆ Crypto's core technology has a legitimacy problem. The founder of VC firm Dao5 is seeking to shore up its cred by working with university researchers.
▼ + stars: | 2023-02-02 | by ( April Joyner | ) www.businessinsider.com time to read: +4 min

Tekin Salimi, the founder of the VC firm Dao5, sources many of his deals through academic research. Salimi's venture capital firm, Dao5, counts several university professors among its advisors and has backed several startups founded by academics. His budding interest in crypto eventually brought him to Silicon Valley, where he joined the crypto VC firm Polychain Capital in 2018. When he left Polychain to launch Dao5 last year, Salimi sought to build academic research into the firm's deal-sourcing process. Dao5 cut ties with Kwon after the collapse, and he never had any financial involvement in the firm, Salimi said.

☆ Bank of America announced a new class of managing directors — here are all 87 names in corporate and investment banking
▼ + stars: | 2023-01-26 | by ( Alex Morrell | ) www.businessinsider.com time to read: +3 min

Bank of America has announced a new class of 360 managing directors. Insider has the list of the 87 new MDs for the firm's Global Corporate and Investment Bank. It's managing director promotion day at Bank of America. On Thursday, the class of 360 managing directors across the firm were announced internally, up 15% from the 314 promoted in 2022.Insider has the list of the 87 employees who were promoted in the firm's Global Corporate and Investment Bank — the division responsible for dealmaking. That's down 17% from 105 new MDs last year in the division, likely a reflection of a difficult year in investment banking across Wall Street that saw revenues drop in excess of 50%.

☆ China's navy is showing off a huge new ship designed to carry other warships around
▼ + stars: | 2023-01-09 | by ( Liu Zhen | South China Morning Post | ) www.businessinsider.com time to read: +4 min

Yinmahu is a semi-submersible heavy-lift ship that could ferry equipment and damaged ships. Chinese state TV recently showed the ship doing various maneuvres but didn't reveal its specifications. Footage showed the Yinmahu's departure, submerging, ship loading, lifting and transporting. The Chinese navy's first heavy-lift vessel, the Donghaidao (hull number 868) is known to have entered service in 2015. The semi-submersible heavy-lift ship can carry vessels over 100,000 tonnes.

☆ Tech layoffs in Southeast Asia mount as unprofitable startups seek to extend their runways
▼ + stars: | 2022-12-08 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Lauryn Ishak | Bloomberg | Getty ImagesMore tech startups in Southeast Asia laid off workers this year, as macro headwinds widened losses and venture capitalists pushed startups to extend their runways. Jia Jih Chai RainforestThey join Sea Group and other companies in the region in downsizing headcount. Sea Group, according to local media, laid off more than 7,000 employees over the past six months. Tech startups in Southeast Asia are still largely unprofitable, with names like Sea Group and Grab amassing billions of losses annually. Existing investors in the company are also actively advising founders to prepare for winter, Jussi Salovaara, Antler's co-founder and managing partner for Asia, told CNBC.

☆ Ivana Trump's townhome that just hit the market for $26.5M was purchased on the heels of a messy divorce and reflects the opulence of Trump's 'The Art of the Deal' era
▼ + stars: | 2022-11-17 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Ivana Trump's Upper East Side townhome has an asking price of $26.5 million. She purchased the home in 1992, the same year she finalized her divorce from Donald Trump. The interior reflects a bygone era of Donald Trump's celebrity and one of his favorite colors: gold. Ivana Trump finalizes her tumultuous and very public divorce from Donald Trump that followed two years of finger-pointing and accusations of "fraudulent" prenuptial agreements and slander. Ivana Trump reaped the rewards of auxiliary fame as well when she was married to Donald Trump.

☆ China vows to continue with 'dynamic-clearing' COVID strategy
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +2 min

The country's strict COVID containment approach is still able to control the virus, despite the high transmissibility of COVID variants and asymptomatic carriers, an official from the China National Health Commission told a news conference. Asked if there would be a change of policy in the near term, disease control official Hu Xiang said China's measures are "completely correct, as well as the most economical and effective." The briefing followed a week in which markets surged on hope China would relax restrictions, buoyed further on Friday when a former disease control official told a banking conference that China would make "substantial" changes to COVID policy in the coming months. "We attach great importance to these problems and are rectifying them," said Tuo Jia, another disease control official. China reported 3,837 new COVID-19 infections for Friday, of which 657 were symptomatic and 3,180 were asymptomatic, a slight decrease from the six-month-high of 4,045 new COVID-19 infections reported a day earlier.

HONG KONG — Chinese leader Xi Jinping’s first two terms in power were marked by intensifying competition and tensions with the United States. The United States does not seek conflict with China, Biden told a meeting of his top military advisers Wednesday. “China stands ready to work with the United States to find the right way to get along with each other in the new era,” he said. But China under Xi has a “superficial stability,” Johnson said. Hulton Deutsch / Corbis via Getty ImagesAt 69, Xi has appointed no obvious successor, indicating he may plan to stay in power indefinitely.

☆ Analysis: Xi's next premier faces tough task reviving Chinese economy
▼ + stars: | 2022-10-24 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

China's economic tsar, Liu He, a U.S.-trained economist who is seen as the brains behind earlier reforms, will be replaced by He Lifeng, another Xi acolyte. "We face the problem of weakening expectations and confidence and it's empty talk if we cannot revitalise the economy," Jia said. China's economic miracle started in 1978 when Deng Xiaoping kicked off historic reforms, allowing more private enterprises and opening the economy to foreign investment. The poll showed China's growth could pick up to 5.0% in 2023, helped by a lower base. Xi's Standing Committee choices disappointed investors who had been hoping he would keep some reform-minded officials, including former Guangdong party boss Wang Yang.

☆ China ex-official Zhang makes first appearance since sexual assault claim
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Oct 16 (Reuters) - Chinese former Vice Premier Zhang Gaoli made his first public appearance on Sunday since Chinese tennis star Peng Shuai accused him of sexual assault last year, attending the 20th Communist Party Congress. Her post led the Women's Tennis Association to suspend tournaments in China and caused an international outcry over her safety. Hu, 79, slightly unsteady but appearing healthy, followed immediately behind Xi onto the stage and sat next to Xi. Other retired leaders on the rostrum included other former members of the party's elite Standing Committee, which rules China, including Jia Qinglin and Zeng Qinghong. Register now for FREE unlimited access to Reuters.com RegisterReporting by Yew Lun Tian; Writing by Ben Blanchard and William MallardOur Standards: The Thomson Reuters Trust Principles.

Then came the pandemic and a property crisis, and with them, clear evidence of the limits of the debt-fuelled, investment-driven model that had propelled China's economy and businesses like Shores'. "If there is no investment, consumption will be like a tree without roots," said Jia, who previously led a finance ministry think tank. Many uncertainties hang over China's economy: the zero-COVID policy, a crackdown on tech and other industries, geopolitical tensions and rising borrowing costs in export markets. China is widely expected to miss this year's 5.5% GDP growth target and Natixis estimates growth may not even top 3% a year into Xi's next mandate. Oxford Economics expects average annual GDP growth this decade to halve from the 1999-2019 average to 4.5% and slow to 3% in the decade after.

Search resuls for: "JIA"

25 mentions found