Italy's MFE welcomes ProSieben's decision to divest non-core businesses

Reuters
BYD's steep EV discounting in Thailand sparks backlash, PM seeks assurances
Thailand's consumer protection agency has received about 70 complaints since initiating a probe into aggressive discounting by BYD dealers that has left some buyers feeling they overpaid for their Chinese electric vehicles. Prime Minister Srettha Thavisin told BYD Chief Executive Wang Chuanfu, who was in Thailand to mark the opening of its first Southeast Asian factory this week and paid a courtesy call to the premier on Friday, to better manage customer expectations about pricing and ensure local buyers were protected. Wang gave assurances that future pricing would be appropriate and affected customers would receive support, according to a government spokesman.
Reuters
China steps up pressure with EU brandy probe hearing as EV tariffs begin
BEIJING (Reuters) -China announced the next step in its anti-dumping investigation into European brandy imports on Friday, ramping up tension on the day the European Commission's provisional tariffs on Chinese-made electric vehicles take effect. Ahead of the bloc confirming tariffs of up to 37.6% on Chinese-made EVs on Thursday, a commerce ministry spokesperson told a news conference that Brussels and Beijing should keep negotiating, but kept the prospect of retaliation was alive with a reference to another investigation into EU pork imports.
South China Morning Post
'Too many' AI models in China: Baidu CEO warns of wasted resources, lack of applications
Baidu co-founder and CEO Robin Li Yanhong said China has too many large language models (LLMs) and called for tech leaders to focus more on building real-world applications powered by artificial intelligence (AI). "In 2023, intense competition among over 100 LLMs has emerged in China, resulting in a significant waste of resources, particularly computing power," Li said during a panel discussion at the World Artificial Intelligence Conference (WAIC) in Shanghai on Thursday. Li called on developer
Reuters Videos
China's BYD opens first EV factory in Southeast Asia
STORY: Step inside BYD's first electric vehicle plant in Thailand.It's part of the Chinese automaker's plan to expand in Southeast Asia, where BYD has become the dominant player.BYD CEO and President Wang Chuanfu."We are convinced that Thailand will have a golden development period for new energy vehicles. China and Thailand are geographically close, culturally close, and economic and trade cooperation is booming. New energy vehicles are not only a bridge between China and Thailand to enhance friendship, but also a link between BYD and Thailand."Thailand is a regional auto assembly and export hub.The country aims to convert 30% of its annual production of 2.5 million vehicles into EVs by 2030.Chinese EV makers clearly like the lure of the Thai government's subsidies and tax incentives.They've invested more than $1.4 billion setting up factories in the country, with BYD's new plant the latest addition.The sprawling facility is worth $490 million.And it will have a production capacity of 150,000 vehicles per year, including plug-in hybrids."It will provide over 10,000 jobs after reaching full capacity."As part of its expansion outside China, the world's largest EV maker is also building its first European production base in Hungary.Although BYD could feel some pain in that particular market.The European Commission has imposed tariffs of up to nearly 38% on Chinese-made EVs.
Reuters
Exclusive-Europe seeks industry views on China's older generation chips
AMSTERDAM/LONDON (Reuters) -The European Commission has begun canvassing the region's semiconductor industry for its views on China's expanded production of older generation computer chips, two sources familiar with the matter told Reuters. The Commission, the EU executive, has sought feedback ahead of two voluntary surveys for the chip industry and major chip-using industrial firms that will be due in September. A spokesperson on Friday confirmed the Commission had begun a "targeted consultation (with) the industry to assess further the use of legacy chips in supply chains."
South China Morning Post
In China's Guangzhou, a web of factories gives rise to fast-fashion juggernaut Shein
The mercantile history of Guangzhou, the city once called Canton that is about two hours' drive from Hong Kong, can be traced back to Wu Bingjian, one of the richest men to have ever lived on Earth. Better known among foreigners as Howqua, the 18th-century merchant accumulated enormous wealth running one of the 13 trading houses, or hong, that were granted exclusive rights by the Manchu rulers in Peking to sell tea, porcelain, silk and other exotic goods to Westerners, until the Opium War shatte
AFP News
Why are Chinese electric cars in EU crosshairs?
The European Union will impose additional provisional duties of up to 38 percent on Chinese electric cars from Friday after concluding manufacturers in China benefited from unfair state support.The EU will now impose provisional duties between 20 and 38 percent on top of the current 10 percent tariff on Chinese electric cars.
AFP News
EU slaps Chinese electric cars with tariffs of up to 38%
The European Union on Thursday slapped extra provisional duties of up to 38 percent on Chinese electric car imports because of Beijing's "unfair" support, a move that risks escalating tensions with Beijing.- Expected cut to imports - The United States has already hiked customs duties on Chinese electric cars to 100 percent, while Canada is considering similar action.
Reuters
Former ASML CEO says US-China chip fight will continue
The recently retired CEO of semiconductor equipment maker ASML said in an interview with Dutch radio station BNR on Saturday that U.S.-China disputes over computer chips are ideological and not based on facts, and they are set to continue. Wennink left in April after a ten year term at the helm of ASML that saw it become Europe's largest technology firm. Since 2018, the U.S. has imposed increasing restrictions on what tools the company can export to China, its second-largest market after Taiwan, citing security concerns.
Moneywise
Is retiring at 65 a huge mistake? Here's what you need to consider
Deciding when to retire is deeply personal.
CoinDesk
As Bitcoin Bellyflops to $54K Only Five Mining Rigs Remain Profitable, Says F2Pool
Miners need to continually sell bitcoin rewards to keep operations afloat, and they are stressed during a market downturn.
Reuters Videos
China hints at targets in EV tariff battle
STORY: China has dropped some hints about how it could retaliate against EU tariffs on its electric vehicle exports. The Commerce Ministry said Friday it would hold a hearing to examine claims European brandy producers are selling into the country at below market rates. Officials have also referred to another probe into EU pork exports. Analysts say the targets were chosen to pressure Spain and France - which have been among the strongest backers of the new levies. Europe this week imposed import tariffs of up to 37.6% on China-made EVs. That will hit local brands like BYD, but also Chinese-made cars from western firms including Tesla. The tariffs are provisional, while Brussels conducts a probe in Beijing’s support for its carmakers. China has said both sides should stay at the negotiating table for now. Officials have said they don’t want another trade war, but will take all necessary steps to protect Chinese firms. Reports in state-backed media indicate other possible targets for retaliation. That could include dairy products and luxury cars. The EU tariffs have also divided opinion in Europe. German automakers have called for them to be scrapped, fearing they could be a target for Beijing’s response.
MediaOutReach
Malaysian companies have significant scope to promote diversity at the workplace - according to a foundit survey
Here are some of the key findings from the survey - 49% of respondents state that their organisations do not have diversity training programs - 32% of employees believe their workplace is highly committed to hiring a diverse team - 28% of respondents are not familiar with the concept of diversity hiring - 36% of respondents state that their organisations support work-life balance, especially for women caregivers and differently-abled individuals. - 47% of employees are aware of employee resource
Fortune
China is poised to dominate the market for legacy chips, and the U.S. may only have itself to blame
U.S. Commerce Secretary Gina Raimondo warned in April that 60% of all mature chips coming into the market will come from China.
INSIDER
California put up its fast-food wage to $20. Its governor is adamant it's not causing employment to fall.
Critics of the legislation warned that the higher wages could lead to restaurants laying off some of their workers, or even closing down.
GOBankingRates
8 Signs You’ll Retire Wealthy
How do you actually know whether you'll be able to retire early? Here are some signs.
Reuters
Chery launches 28,000 euro crossover SUV in Italy as it plans Europe expansion
China's Chery Auto is starting sales in Italy with a petrol version of its Omoda 5 crossover SUV, priced from 27,900 euros ($30,182), as the automaker assesses its options to expand its manufacturing capacity and sales in Europe. One of several Chinese companies bringing budget cars to Europe, mostly electric, Chery began European sales in Spain earlier this year. It is now expanding in the region and aims to enter over 60 new markets globally in the next three years, Vice President Shawn Xu said late on Thursday at a presentation in Milan.
Yahoo Finance Video
DOJ officials reportedly readying fraud charge against Boeing
Boeing (BA) may be confronting fresh legal hurdles as reports suggest the Justice Department is considering charging the aerospace manufacturing giant with fraud over fatal planes from years prior. This potential development adds to the company's ongoing legal challenges, which have primarily stemmed from safety concerns within its production process for its premier jet lines. Market Domination co-hosts Jared Blikre and Josh Lipton break down the details. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
Reuters
Australian court rules PayPal's local unit used unfair contract term for small businesses
The court found the term was unfair because customers who did not bring the overcharging errors to PayPal's notice within 60 days were forced to accept the fees as accurate, the Australian Securities & Investments Commission (ASIC) said. The ASIC had initiated court proceedings against PayPal over this issue last September. "Today's decision serves as a reminder to all businesses that unfair contract terms contained within standard form contracts with small businesses will not be tolerated, and that ASIC will take decisive action where appropriate to protect the rights of consumers and small businesses," ASIC Deputy Chair Sarah Court said.
South China Morning Post
Chinese tech executives discuss how AI large language models can shape businesses
Chinese tech executives - including those from Alibaba Group Holding and generative artificial intelligence start-up Zhipu AI - discussed how large language models (LLMs) can shape businesses at the annual conference held by Luohan Academy, the open research institute initiated by Alibaba. At the 2024 Luohan Academy Annual Digital Economy Conference, Zhang Fan, chief operating officer of Zhipu AI - one of China's "four artificial intelligence (AI) tigers" - talked about how the tech unicorn help

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Italy's MFE welcomes ProSieben's decision to divest non-core businesses

Latest stories

BYD's steep EV discounting in Thailand sparks backlash, PM seeks assurances

China steps up pressure with EU brandy probe hearing as EV tariffs begin

'Too many' AI models in China: Baidu CEO warns of wasted resources, lack of applications

China's BYD opens first EV factory in Southeast Asia

Exclusive-Europe seeks industry views on China's older generation chips

In China's Guangzhou, a web of factories gives rise to fast-fashion juggernaut Shein

Why are Chinese electric cars in EU crosshairs?

EU slaps Chinese electric cars with tariffs of up to 38%

Former ASML CEO says US-China chip fight will continue

Is retiring at 65 a huge mistake? Here's what you need to consider

As Bitcoin Bellyflops to $54K Only Five Mining Rigs Remain Profitable, Says F2Pool

China hints at targets in EV tariff battle

Malaysian companies have significant scope to promote diversity at the workplace - according to a foundit survey

China is poised to dominate the market for legacy chips, and the U.S. may only have itself to blame

California put up its fast-food wage to $20. Its governor is adamant it's not causing employment to fall.

8 Signs You’ll Retire Wealthy

Chery launches 28,000 euro crossover SUV in Italy as it plans Europe expansion

DOJ officials reportedly readying fraud charge against Boeing

Australian court rules PayPal's local unit used unfair contract term for small businesses

Chinese tech executives discuss how AI large language models can shape businesses