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The moves should bolster efficiency at both firms, amid an already-stellar year for the two Club holdings. Apple surpassed a $3 trillion market capitalization last month, but has since pulled back to a valuation of $2.94 trillion. Meanwhile, WedBush recently forecasted that Microsoft could also join the $3 trillion club by early 2024 on the back of its artificial intelligence capabilities. This round of Microsoft layoffs is much smaller than the cuts the company announced earlier this year, so it probably doesn't move the needle. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: WedBush, ChatGPT, Tencent, Jim Cramer's, Jim Cramer, Jim, RYU Organizations: Microsoft, Apple, Nasdaq, CNBC, Federal Trade Commission's, Activision, Getty, Visual China Locations: China, Washington, India, Seattle , Washington

☆ Apple opens store on China's WeChat platform
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] A man holds an iPhone 14 as Apple Inc's new models go on sale at an Apple store in Beijing, China, September 16, 2022. REUTERS/Thomas Peter/File PhotoBEIJING, July 11 (Reuters) - Tencent's (0700.HK) WeChat said on Tuesday that iPhone maker Apple (AAPL.O) had opened a store on its social media platform, marking an expansion of the U.S. firm's retail channels in the world's second largest economy. The announcement by WeChat, China's dominant messaging app which also provides e-commerce, livestreaming and payment services, said users would be able to buy Apple products including iPhones, iPads and Macs from the store. The move by Apple comes as Chinese consumers increasingly turn to social media platforms such as WeChat and ByteDance's Douyin, the Chinese version of TikTok, to shop. China's smartphone sales in the first quarter fell 5% year on year, marking the lowest first-quarter sales figure for the country since 2014, according to data from Counterpoint Research.

Persons: Thomas Peter, WeChat, Tencent, ByteDance's Douyin, Sophie Yu, Brenda Goh, Jacqueline Wong, Jamie Freed Organizations: Apple, REUTERS, HK, Counterpoint Research, Beijing, Thomson Locations: Beijing, China, BEIJING

☆ Apple launches online store on China's giant WeChat messaging app
▼ + stars: | 2023-07-11 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Apple launched an official WeChat Mini Program in China to sell its products. WeChat is China's biggest messaging app and is operated by Tencent. Apple on Tuesday launched an online store on Tencent's WeChat messaging app in China, as the iPhone giant steps up the expansion of its retail channels in one of its most important markets. WeChat is China's biggest messaging platform with over 1.2 billion users. Apple has an official store on Tmall, the e-commerce site operated by Alibaba .

Persons: Apple's, Tencent, JD.com, China's Organizations: Apple, Tencent, Mini, CNBC, Alibaba, Research Locations: China, WeChat

☆ One dead, 7 missing in central China highway landslide
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 9 (Reuters) - One person has died and seven were missing after a landslide overtook a highway construction site on an expressway in central China, local government officials said on Sunday. China's ministry of emergency management activated a level-four emergency response and sent a working group to the site to guide emergency handling, according to a WeChat post. The minister of emergency management urged authorities to find out what caused the landslide. Torrential rains in parts of China over several weeks have led to a number of deadly landslides. China's government has issued advisories about rain and other natural disasters for local governments to stay alert and respond quickly.

Persons: Bernard Orr, Qiaoyi Li, William Mallard Organizations: Thomson Locations: BEIJING, China, Saturday's, Hubei province, Sichuan province

WASHINGTON, July 5 (Reuters) - TikTok Inc on Wednesday asked a U.S. judge to block enforcement of a Montana state ban on use of the Chinese-owned app before it takes effect on Jan. 1. Chandlee said if the ban takes effect "we expect that additional advertisers and business partners will pull back from working with TikTok Inc (which is the entity that receives income from U.S. advertisers, including in Montana)." Montana could impose fines of $10,000 for each violation by TikTok. TikTok estimates 380,000 people in Montana use the video service, or more than a third of the state's 1.1 million people. TikTok's lawsuit names Montana Attorney General Austin Knudsen, who is charged with enforcing the law.

Persons: China's ByteDance, Donald W, Molloy, Blake Chandlee, TikTok, Chandlee, Donald Trump, Austin Knudsen, David Shepardson, Himani Sarkar, Robert Birsel Organizations: Inc, Wednesday, U.S, District, TikTok, Business, Constitution's, TikTok Inc, HK, Montana Attorney, Thomson Locations: Montana

☆ ‘Anti-American’ Chinese pundit faces backlash for attending Independence Day party at US Embassy in Beijing
▼ + stars: | 2023-07-06 | by ( Nectar Gan | ) edition.cnn.com time to read: +5 min

CNN —A Chinese nationalist pundit known for his inflammatory criticism of the United States has attracted ridicule online after he was shown attending a party celebrating Independence Day at the US embassy in Beijing – and apparently having a great time while there. American ambassador Nicolas Burns invited me to dinner,” exclaimed the headline of an article Sima posted Wednesday. In the article, he praised the “spectacular” food offered at the event, to which “national day celebrations at the Russian embassy cannot compare,” he said. (Though the Russian embassy’s ice cream is tastier, he concluded after eating four scoops of American ice cream). Sima also observed the “festive atmosphere” of the US celebration, in contrast to the discussions on “serious topics” by guests at the Russian embassy.

Persons: Sima Nan, ”, Sima, “, Nicolas Burns, Burns, Mr, Burns ’, It’s, “ Sima Nan Organizations: CNN, Independence, Beijing –, Washington, NATO, Sima’s, US, Russian Locations: United States, Beijing, China, Ukraine, Taiwan, ” China, Russian, Weibo, American, California

☆ Chinese state media rebuke Mark Zuckerberg over reported plan to sell Quest headsets
▼ + stars: | 2023-07-05 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., speaks during the virtual Meta Connect event in New York, US, on Tuesday, Oct. 11, 2022. for a virtual future. A Chinese state-controlled media outlet published a harsh critique of Meta CEO Mark Zuckerberg on Wednesday, accusing the billionaire of essentially "shooting himself in the foot" when it came to the Chinese markets. The editorial, translated from Mandarin, said that Zuckerberg's past criticisms of Chinese companies, including ByteDance's TikTok, essentially amount to self-sabotage of his efforts to sell in China. Zuckerberg has been a critic of both specific China-based companies and widespread Chinese corporate espionage. "I think it's well documented that the Chinese government steals technology from American companies," Zuckerberg testified before Congress in 2020.

Persons: Mark Zuckerberg, Meta, Tencent, ByteDance's, Zuckerberg, Tim Cook, Elon Musk, Sen, Tom Cotton, Sundar Pichai, Apple's Cook, Pichai Organizations: Meta, Inc, Street Journal, Apple, Tesla, Google, Microsoft, Department of Justice, Department of Homeland Security Locations: New York, Beijing, China

CNN —A federal judge on Tuesday ordered some Biden administration agencies and top officials not to communicate with social media companies about certain content, handing a win to GOP states in a lawsuit accusing the government of going too far in its effort to combat Covid-19 disinformation. In a preliminary injunction issued by US District Judge Terry Doughty, the judge ordered a slew of federal agencies and more than a dozen top officials not to communicate with social media companies about taking down “content containing protected free speech” that’s posted on the platforms. The injunction notes that the government can still communicate with the companies as part of efforts to curb illegal activity and address national security threats. The lawsuit brought by the Missouri and Louisiana attorneys general in 2022 represents a novel way to pursue “censorship” claims accusing the Biden administration of effectively silencing conservatives by leaning on the private social media companies. The judge had previously ordered the administration to produce documents identifying government officials and the nature of their communications with social media platforms.

Persons: Terry Doughty, ” that’s, Vivek Murthy, Karine Jean, Pierre, Doughty, ” Doughty, Donald Trump, Meta, Biden, Doughty hasn’t, ’ Organizations: CNN, Biden, GOP, US District, Department of Health, Human Services, National Institute of Allergy, US Centers for Disease Control, Justice Department, FBI, White House Press, Facebook, Twitter, YouTube, White, Google Locations: Missouri, Louisiana

☆ Boeing says about 90% of its China 737 MAX fleet have resumed commercial operation
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

BEIJING, June 28 (Reuters) - About 90% of Boeing's (BA.N) China 737 MAX fleet have resumed commercial operation as of the end of June, the U.S. aircraft maker said on its official WeChat account on Wednesday. Some planes have been dispatched to regional international routes, Sherry Carbary, president of Boeing China, said in the article. China grounded its entire Boeing 737 MAX fleet after an air crash of one 737 MAX jet operated by Ethiopian Airlines in March 2019, the second deadly accident of the model in five months. State-owned China Southern Airlines (600029.SS) was the country's first carrier to resume the flying of the 737 MAX in January, after the plane was grounded for nearly four years. Chinese airlines then has been gradually reintroducing the model back to operation and in April Boeing estimated that half of the country's MAX fleet was in operation.

Persons: Sherry Carbary, Carbary, Louise Heavens Organizations: U.S, Boeing, MAX, Ethiopian Airlines, China Southern Airlines, Beijing, Thomson Locations: BEIJING, China, Boeing China, Central Asia, Southeast Asia

☆ Chinese payment giants revive effort to accept foreign credit cards
▼ + stars: | 2023-06-28 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

HONG KONG, June 28 (Reuters) - Chinese tech giants Tencent Holdings (0700.HK) and Ant Group said that they would allow users to link international credit cards to their platforms, an issue that has long plagued foreign visitors as the country’s payment system has kept credit cards out for years. Foreign visitors often find themselves unable to pay for things in China where many shops and restaurants now only accept mobile payment rather than credit cards or cash. Tencent and Ant had formed partnerships with Visa and Mastercard in 2019 to make foreign cards usable on their platforms. Under the new setup, international travelers can set up their foreign cards on these apps with a few simple steps. While China’s mobile payment networks have been closed off to foreign-issued credit cards, domestically issued credit cards under Visa and Mastercard have long been supported.

Persons: Alipay, Ant, ” Tencent, Josh Ye, Kim Coghill Organizations: Tencent Holdings, HK, Ant Group, Visa Inc, Mastercard, Ant, Visa, Overseas, Thomson Locations: HONG KONG, China, ecommerce, Hong Kong, Macau

☆ Taiwan says Chinese air force approached close to island's coast
▼ + stars: | 2023-06-24 | by ( ) www.reuters.com time to read: +3 min

China's air force over the past three years has routinely flown into the air space around Taiwan. Since August it has regularly sent jets across the strait's median line, which had previously served as an unofficial barrier. In March, Taiwan Defence Minister Chiu Kuo-cheng warned that the island had to be on alert this year for a "sudden entry" by the Chinese military into areas close to its territory. Taiwan defines its contiguous zone as being 24 nautical miles from its coast. Eight of those crossed the median line and "got close" to the 24 nautical mile mark, it said.

Persons: Chiu Kuo, cheng, Ben Blanchard, Jacqueline Wong, Tom Hogue, William Mallard Organizations: Taiwan Defence, Eastern Theatre Command, U.S . Navy, Thomson Locations: TAIPEI, Taiwan, Beijing, China, U.S

☆ Exclusive: Taiwan on alert for Chinese-funded election interference
▼ + stars: | 2023-06-21 | by ( Yimou Lee | ) www.reuters.com time to read: +5 min

"They hope to influence Taiwanese people by reaching out to the grassroots," said one Taiwan security official with direct knowledge of the matter. "They hope to influence swing voters who don't have particular political affiliation and would vote for whoever gives them benefits." It is illegal under Taiwanese law for an election campaign to receive money from "external hostile forces," including China. The report said the underground banking systems in Taiwan, which are widely known but difficult to regulate, could provide foreign exchange support. Some Taiwanese have been prosecuted in recent years over receiving illicit support from China in election campaigns.

Persons: Tsai Ing, China's, Wellington Koo, Tsai, Yimou Lee, Gerry Doyle Organizations: Reuters, National Security Council, Chinese Communist Party, Taiwan Affairs Office, Democratic Progressive Party, Mainland Affairs Council, Thomson Locations: TAIPEI, China, Beijing, Taiwan, Wellington, New Taipei City

☆ Micron says committed to China, invests $602 mln in existing plant
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

Micron made no mention of the review's decision in its Friday statement, posted on WeChat. "This investment projects demonstrates Micron's unwavering commitment to its China business and team," it quoted CEO Sanjay Mehrotra as saying. Micron and Powertech did not immediately respond to requests for comment. This would bring Micron's workforce in China to more than 4,500 people, the company added. ($1 = 7.1337 yuan)Reporiting by Beijing newsroom; Editing by Muralikumar Anantharaman and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Sanjay Mehrotra, Muralikumar Anantharaman, Gerry Doyle Organizations: Micron, Technology Inc, Powertech, Thomson Locations: BEIJING, China, Xian, United States, Powertech's, Beijing

It was by a young Chinese pitch invader, eager to meet his hero, the seven-time winner of the Ballon d’Or. Videos that have gone viral on Chinese social media show the young fan leaping from the stands before sprinting toward the Argentine striker – who like him was wearing the number 10 jersey – and giving him a hug. A Chinese fan runs onto the pitch to hug soccer superstar Lionel Messi during a friendly match between Argentina and Australia at the Worker's Stadium in Beijing on June 15. Ng Han Guan/APWith the crowd cheering three security guards then give chase, the first of them falling over as the young fan evades his grasp. On Chinese social media, many users – football fans or otherwise – celebrated the young fan’s sprint across the grass pitch as a liberating moment.

Persons: Lionel Messi –, –, Messi, Lionel Messi, Ng Han Guan, Emiliano Martinez, ”, Thomas Peter, ” “ Messi, I’m, flailing, “ Organizations: Beijing CNN, Australia, Argentine, Workers, Global Times, Messi, Reuters, FIFA, De Football Association, Indonesia Locations: Beijing, Argentina, Australia, China, Jakarta

☆ Micron invests another $600 million in China despite partial sales ban
▼ + stars: | 2023-06-16 | by ( ) edition.cnn.com time to read: +2 min

Micron said Friday it was committed to China and would invest 4.3 billion yuan ($603 million) over the next few years in its chip packaging facility in the city of Xian. Micron, the biggest US memory chipmaker, was last month targeted by China’s cyberspace regulator, which said the firm had failed a network security review. “This investment project demonstrates Micron’s unwavering commitment to its China business and team,” it quoted CEO Sanjay Mehrotra as saying. Micron, China’s commerce ministry and the Cyberspace Administration of China did not immediately respond to requests for comment. In May, Micron forecast a hit to revenue in the low-single to high-single digit percentages after the China ban.

Persons: Sanjay Mehrotra, Powertech Organizations: Micron, Technology Inc, Cyberspace Administration, China Locations: China, Xian

☆ An employee in China was fired for taking toilet breaks of up to 6 hours a day, which he said was due to a medical issue
▼ + stars: | 2023-06-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

A company in China fired an employee after he had to take toilet breaks of up to 6 hours, per Laodong Daily. The employee underwent surgery for an anorectal issue in December 2014 but was still in pain. Wang then started spending three to six hours in the toilet every day from July 2015, according to state-linked Laodong Daily, which focuses on labor-related news. Some companies in China have come under scrutiny for cracking down on toilet breaks, per South China Morning Post in a Thursday report. In 2021, a tech company in southern China angered employees by fining those who use the toilet more than once a day, per SCMP.

Persons: —, Wang, Shanghai's Organizations: Service, Chinese Communist Party, Weibo, China Morning Locations: China, Tianjin

SHANGHAI, May 31 (Reuters) - China Telecom (0728.HK) has invested 3 billion yuan ($434 million) to establish the China Telecom Quantum Information Technology Group Co., it said in a statement on its official WeChat account Tuesday. The investment marks the latest move by a Chinese telecommunications giant to try to tap into quantum technology and reflects Beijing's ambition to pull ahead in the global race to harness the power of quantum computing. "[This] is a practical action to thoroughly study and implement the spirit of General Secretary Xi Jinping's important instructions on the development of quantum technology," China Telecom said in its statement. China Telecom's move comes after China Mobile, the world's largest telecom carrier with 900 million mobile subscribers, last December signed a deal with Chinese startup Origin Quantum looking to use quantum computing to overcome computational bottlenecks facing 5G and 6G technologies. Current real-world applications in quantum computing are still very basic and limited to a small group of clients.

Persons: Xi, China Telecom's, Casey Hall, Sonali Paul Organizations: China Telecom, HK, China Telecom Quantum Information Technology, Co, China Mobile, Global, IDC, Thomson Locations: SHANGHAI, China, Anhui

☆ China deletes 1.4 million social media posts in crackdown on 'self-media' accounts
▼ + stars: | 2023-05-27 | by ( Eduardo Baptista | ) www.reuters.com time to read: +3 min

BEIJING, May 27 (Reuters) - China's cyberspace regulator said 1.4 million social media posts have been deleted following a two-month probe into alleged misinformation, illegal profiteering, and impersonation of state officials, among other "pronounced problems". The Cyberspace Administration of China (CAC) said in a statement on Friday it had closed 67,000 social media accounts and deleted hundreds of thousands of posts between March 10 and May 22 as part of a broader "rectification" campaign. Since 2021, China has targeted billions of social media accounts in a bid to "clean" its cyberspace and make it easier for authorities to control. The latest crackdown targeted accounts on popular Chinese social media apps including WeChat, Douyin, and Weibo that fall under the category of "self media," a term that broadly refers to accounts that publish news and information but are not government-run or state-approved. Some 25,000 other accounts were targeted for impersonating public institutions, such as disease and prevention control centers and state-run research institutes.

☆ A TikTok ban in Montana points to how a US ban would play out: messy and hard to enforce
▼ + stars: | 2023-05-25 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

Montana is the first US state to ban TikTok, as US lawmakers discuss a federal ban. US lawmakers have been talking about a possible TikTok ban over its ties to China. Montana's law suggests a federal ban would be hard to enforce — and might not solve anything. Last week, Montana became the first US state to ban TikTok — and the rule's implementation could show just how hard it would be to enact a federal ban. Montana's TikTok ban is hard to enforce from a tech standpointWhile the ACLU and other civil rights groups are questioning the legality of Montana's TikTok ban, even if it did stand up to a court challenge, it's hard to actually enforce.

Persons: TikTok, it's, Montana's, that's, Evan Greer, Aaron Mendes, Banning TikTok, Mendes, Donald Trump's, Karen Gullo Organizations: ACLU, TikTok, Apple, Washington Post, Facebook, Electronic Frontier Foundation Locations: Montana, China, British, TikTok

☆ China’s Tech Giants Signal the First Steps in a Bumpy Recovery
▼ + stars: | 2023-05-19 | by ( Chang Che | ) www.nytimes.com time to read: +1 min

Eight months ago, the future of China’s largest internet companies looked grim. Covid-era lockdowns crushed sales and Beijing’s harsh tech regulations had spooked even audacious China investors. With China’s economy now reopen, the tech giants this week released earnings reports that showed initial signs of recovery. Revenue rose 10 percent at Baidu, which said on Tuesday that strong digital advertising sales had continued into the current quarter. Tencent, China’s dominant video game company, also benefited from easing restrictions on gaming licenses last year after a nine-month freeze.

Montana Governor Greg Gianforte on Wednesday signed legislation to ban TikTok in the state, effective Jan. 1. The TikTok users argue the state seeks to "exercise powers over national security that Montana does not have and to ban speech Montana may not suppress." The suit adds users believe the law violates their First Amendment rights. "Montana can no more ban its residents from viewing or posting to TikTok than it could ban the Wall Street Journal because of who owns it or the ideas it publishes," the lawsuit said. TikTok has faced growing calls from U.S. lawmakers and state officials to ban the app nationwide over concerns about potential Chinese government influence over the platform.

☆ Montana to become first US state to ban TikTok
▼ + stars: | 2023-05-17 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/File PhotoWASHINGTON, May 17 (Reuters) - Montana Governor Greg Gianforte on Wednesday signed legislation to ban the Chinese-owned TikTok from operating in the state, making it the first U.S. state to ban the popular short video app. Montana will make it unlawful for Google and Apple's app stores to offer the TikTok app within its borders. TikTok, which has over 150 million American users, is facing growing calls from U.S. lawmakers and state officials to ban the app nationwide over concerns about potential Chinese government influence over the platform. TikTok, owned by Chinese tech company ByteDance, said in a statement the bill "infringes on the First Amendment rights of the people of Montana by unlawfully banning TikTok," adding that they "will defend the rights of our users inside and outside of Montana." Montana, which has a population of just over 1 million people, said TikTok could face fines for each violation and additional fines $10,000 per day if they violate the ban.

☆ China's Tencent marks return to revenue growth in first quarter
▼ + stars: | 2023-05-17 | by ( Josh Ye | ) www.reuters.com time to read: +1 min

The world's largest video game company and operator of the WeChat messaging platform said revenue reached 149.98 billion yuan ($21.70 billion) for the three months ended March 31. Net profit rose 11% to 25.83 billion yuan, versus a 29.67 billion yuan average analyst estimate. Domestic gaming revenue gained 6% to 35.1 billion yuan while international gaming revenue rose 25% to 13.2 billion yuan. Tencent also saw revenue from online ads rose 17% to 21 billion yuan. Revenue from fintech and business services grew 14% to 48.7 billion yuan as the firm continued to expand in those areas.

☆ Chinese stand-up comedian forced to apologize after military joke angers officials
▼ + stars: | 2023-05-16 | by ( Chris Lau | ) edition.cnn.com time to read: +4 min

He went on to say that one day his two energetic canines gave chase to a squirrel, which reminded him of eight words, before he delivered the controversial punchline, according to audio posted to Chinese social media site Weibo. “Fine style of work, capable of winning battles,” he said, flipping a well known Chinese Communist Party slogan referring to the PLA. Shanghai Xiaoguo Culture Media described the joke as “inappropriate” before offering an apology in a statement on Monday. Comedians make a name for themselves by taking part in these shows and often expand their careers to live shows – as Li did. Last May, former investigative journalist Luo Changping was sentenced to seven months in prison and ordered to offer a public apology for calling Chinese soldiers portrayed in a blockbuster movie about the Korean war “stupid.”Li’s sense of humor divided users on Chinese social media.

☆ China probes Capvision in national security warning to consulting firms
▼ + stars: | 2023-05-09 | by ( ) www.cnbc.com time to read: +2 min

Chinese authorities have carried out an investigation into consulting firm Capvision Partners, state media CCTV reported on Monday. CCTV said that investigations by Chinese national security authorities had found that overseas institutions have used domestic consulting firms to steal state secrets and intelligence on areas key to China. Chinese authorities have carried out an investigation into consulting firm Capvision Partners, state media CCTV reported on Monday, in a warning to other advisory firms as the country tightens its national security laws. CCTV said that investigations by Chinese national security authorities had found that overseas institutions have used domestic consulting firms to steal state secrets and intelligence on areas key to China. CCTV did not say whether authorities levelled any punishment against Capvision but that the national security agency had dealt with the company "in accordance with regulations."

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