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Luckin Coffee’s rise over Starbucks reflects changes brewing in China

Luckin’s meteoric rise reflects a market shift as Chinese spend more carefully, and increasingly prefer local brands with more efficient service to slower, more expensive foreign names.

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G7 Finance Ministers Aim to Use Russia’s Frozen Assets to Help Ukraine

Western economic officials projected a united front, and braced for retaliation, as they prepped tougher sanctions and tariffs.

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Russia Is Increasingly Blocking Ukraine’s Starlink Service

Russia has deployed advanced tech to interfere with Elon Musk’s satellite internet service, Ukrainian officials said, leading to more outages on the northern front battle line.

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Rise of resort day passes offers travelers luxury on a budget

ResortPass holds 95% of the day-guest market and has partnered with luxury hotels including the Waldorf-Astoria, JW Marriott and Fontainebleau.

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Who’d Want to Give a Commencement Speech Anymore?

Executive communications experts say the gig is becoming a harder sell for business leaders.

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The NCAA Agreed to Pay Players. It Won’t Call Them Employees.

The argument is the organization’s attempt to maintain the last vestiges of its amateur model and to prevent college athletes from collectively bargaining.

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Dogs at the Office: Who’s Controlling Whom?

Someone needs skills training.

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6 Podcasts About the Joys and Terrors of Air Travel

In this month’s roundup, true stories of air disasters (and why they’re so rare), as well as love letters to life in the skies.

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Ether Cryptocurrency ETFs Are Approved by the SEC

The Securities and Exchange Commission gave its blessing to a fund that tracks the price of the most valuable cryptocurrency after Bitcoin.

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China property: ‘underwhelming’ stimulus to fall short of refloating market amid sunken buyer confidence, analysts say

The latest government measures are merely ‘a drop in the ocean’, and rebuilding homebuyers’ confidence in the presale system is a precondition for any revival, analysts say.

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Finances a 'dark cloud' over election campaign, says IFS

A leading think tank warns more tax rises or cuts to public services could lie ahead.

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Here's how U.S. health officials are responding to bird flu in humans after second case

A strain of bird flu called H5N1 has been confirmed in dairy cows in nine U.S. states, as well as in two people.

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The Emails at the Heart of the Government’s Ticketmaster Case

Live Nation Entertainment, which owns Ticketmaster, is accused of violating antitrust laws. The Justice Department drew on the concert behemoth’s internal communications in its lawsuit.

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China welcomes foreigners. It just needs policies to make that clear

China is expanding visa-free travel but more can be done to make public transport, lodging and tourist attractions more accessible to foreigners. An English QR guide at ports of entry or one-stop payment cards can go a long way towards boosting inbound travel.

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Ex-Post Office boss Vennells' five big inquiry moments

Ms Vennells gave testimony over three days, watched by those affected by the Post Office scandal.

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Ex-Post Office boss accused of being in 'la-la land'

Paula Vennells is quizzed on how much she knew about remote access to sub-postmasters' computers

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Joy and disbelief as Post Office convictions quashed

A law quashing convictions from the Horizon IT scandal received Royal Assent late on Friday.

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Brooke Shields Elected President of Stage Actors’ Union

She takes office immediately. The previous leader of Actors’ Equity, Kate Shindle, had been president since 2015, and did not run again.

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UAW challenges Mercedes-Benz union vote, asks NLRB for new election

The UAW alleges Mercedes-Benz fired pro-union workers, forced workers to attend anti-union meetings, and interfered with workers' ability to advocate.

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The Business Ties That Bind the U.S. and China Are Strong but Fraying

The prospects for future commerce, and peace, are intertwined, our columnist writes.

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Are These Drones Too Chinese to Pass U.S. Muster in an Anti-China Moment?

U.S.-based Anzu Robotics is selling drones using technology from DJI, a Chinese firm that is the target of efforts by lawmakers to limit Chinese technology in America.

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U.A.W. Seeks a New Election at Mercedes-Benz Plants in Alabama

The union, which lost an organizing vote at two factories last week, argued to federal officials that the automaker had violated labor laws.

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Building society buys Co-op Bank for £780m

The deal will create a financial business with millions of customers and about £89bn worth of assets.

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Beef Tissue from Sick Cow Tests Positive for Bird Flu Virus

Muscle from a sick dairy cow tested positive for the virus. The meat did not enter the commercial food supply, which officials said remained safe.

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Eli Lilly to invest another $5.3 billion in Indiana plant to expand Mounjaro, Zepbound supply

Demand for the drugs Mounjaro and Zepbound has far outpaced supply over the last year, forcing Eli Lilly to invest heavily to scale up its manufacturing.

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NASA Astronauts to Wait Another Week for Boeing Starliner Launch

Officials from NASA and Boeing say they have worked out a solution to a helium leak that has kept the Starliner astronaut capsule grounded.

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Two CVS retail stores in Rhode Island join new national pharmacy union

The votes at the CVS stores signal growing momentum in a movement to help thousands of U.S. pharmacy workers address what they call unsafe working conditions. 

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Interest on Federal Student Loans Is Rising to 6.53%

The rate for undergraduate loans is up from 5.5 percent this past school year and higher than it has been in more than a decade.

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Why Gen Z College Students Are Seeking Tech and Finance Jobs

Many of Harvard’s Generation Z say “sellout” is not an insult.

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Boeing, NASA say Starliner astronaut launch will move forward despite spacecraft helium leak

Boeing and NASA are moving forward with a June 1 launch attempt of the first crewed Starliner mission despite a "stable" leak in its propulsion system.

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No-fault renters evictions bill runs out of time

The Renters (Reform) Bill would have banned landlords from evicting tenants without a reason.

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How Right Wing Commentators Are Pushing Raw Milk Misinformation

On sites like Infowars, Gab and Rumble, federal concerns about raw milk are seen as overreach, but there are serious health risks and no scientifically proven benefits.

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Some iPhone Customers Could Get Up to $349 in an Apple Settlement

A class-action lawsuit about audio issues in iPhone 7 and 7 Plus phones has led to a $35 million settlement, though the company denies the phones were faulty.

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After Outcry, Chuck E. Cheese Says It Will Keep More Animatronic Bands

Plans to phase out most of Chuck E. Cheese’s animatronic bands prompted fans to plead for their survival. The bands will now play on at three additional locations.

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Kabosu, Shiba Inu Dog Who Helped Define the Doge Meme, Dies at 18

The dog, whose face helped spread the popular doge meme and later became the logo of the Dogecoin cryptocurrency, died on Friday.

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For China’s wary investors, the name of the game is bonds – long-term bonds – and they’re playing it safe to win

As the first batches of a trillion-yuan offering of ultra-long-term special government bonds came roaring out of the gate this week, those bearish on China’s economic outlook triggered a feeding frenzy.

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China’s EV price war spreads overseas as carmakers chase market share, higher profit margins

In Southeast Asia, Chinese EV builders from established giants like BYD and Great Wall to start-ups such as Hozon are offering discounts in a bid to take on Japanese rivals whose petrol cars dominate the market.

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Daily marijuana use surpasses alcohol consumption, new study finds. Here's what it means for the booze business

Some analysts on Wall Street think increased cannabis adoption will have an impact on the alcohol industry, with the potential for mergers and fewer beer sales.

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GM CEO Mary Barra says she has no plans to retire soon as automaker's transformation continues

GM CEO Mary Barra on Thursday said she has no plans to retire any time soon, citing a need to ensure the company's transformation is on "a good path."

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Are University Athletes About to Earn a Big Payday?

A $2.8 billion class-action settlement proposal could finally erase the notion that college stars are amateurs — though the plan has drawn skeptics.

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Advertisers boost spending at retailers such as Walmart and Amazon as TV shrinks

The data retailers have on customers — from one-time buyers to loyalists — is extremely valuable to advertisers who want to optimize their exposure.

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Xi Jinping meeting underlines China’s economic growth priority, with message ‘clearer than ever’, analysts say

Chinese President Xi Jinping met with business leaders, overseas investors and economists on Thursday, with analysts pointing to the timing of the meeting ahead of the key third plenum.

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April a washout for shops as sales slump

Retail sales fell by much more than expected last month as heavy rain kept shoppers at home.

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How FaceTime Calls With Mom Became a TV Hit

What started as a way for the filmmaker Josh Seftel and his mother, Pat, to stay in touch has become a popular feature on “CBS Sunday Morning.”

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Energy bills to fall again from July under new cap

A household using a typical amount of gas and electricity will pay £1,568 a year.

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Ampla, a Lender to Consumer Brands, Faces Financial Struggles

Ampla, which lent money to smaller businesses that sold clothing, home furnishings and other items directly to consumers, is struggling financially and seeking a buyer.

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Google to make Pixel phones and drones in India

The tech giant is set to manufacture advanced versions of the smartphone in Tamil Nadu state.

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China Has a Plan for Its Housing Crisis. Here’s Why It’s Not Enough.

A new approach by China’s top leaders is bold but pales against the problem: a vast number of empty apartments no one wants to buy.

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Musk opposes US tariffs on Chinese electric cars

He previously warned Chinese car makers would "demolish" rivals if there were no trade barriers.

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Starwood REIT, Facing a Possible Cash Crunch, Limits Withdrawals

Starwood Real Estate Income Trust is restricting what investors can redeem rather than sell its properties to raise cash.

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Frontier Airlines CEO urges crackdown of 'rampant abuse' of airport wheelchair service

Frontier CEO Barry Biffle said he has seen flights where 20 people were brought in wheelchairs at departure, with only three using them upon arrival.

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Why technology has not transformed building

New technology has yet to transform homebuilding which is still largely a manual task.

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JPMorgan says IPO markets in Hong Kong, mainland China set for turnaround as stock rallies reflate valuations and confidence

A stock market rally in Hong Kong has helped raise valuations and improve sentiment among investors, feeding a recovery in fundraising activities in the city and on bourses in mainland China, JPMorgan says.

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Billie Eilish and Taylor Swift Race for No. 1

The two pop music titans, locked in a close contest for the top of next week’s album chart, are stoking fans’ competitive spirit with a variety of digital tactics.

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China’s exporters, eager for Russia foothold, tread lightly to avoid financial bear trap

Though the Russian market is an appealing one for Chinese exporters, Western sanctions are making payment processing a challenge as delays mount and few avenues for financial transactions remain.

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Norfolk Southern to Pay $310 Million Settlement Over Ohio Train Derailment

The railroad company reached an agreement with the federal government to settle claims and costs from the 2023 derailment of a train carrying hazardous materials in the Ohio town.

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Justice Department sues to break up Live Nation, parent of Ticketmaster

The lawsuit follows a DOJ probe bolstered by fan complaints following a botched rollout for tickets to Taylor Swift's Eras Tour.

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Ascension Hospitals Reel From Cyberattack, Causing Patient Care Delays

For two weeks at the 140-hospital system, doctors and nurses have had little access to digital records for patient histories, resorting to paper and faxes to treat people.

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Mike Lynch defends himself in Autonomy fraud trial

Mike Lynch, a tech tycoon once compared to Bill Gates, said his fraud trial was "surreal".

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Boeing expects a 2024 cash burn, slow recovery of airplane deliveries amid crisis, CFO says

Boeing's aircraft deliveries won't recover in the second quarter from the first, as the manufacturer deals with a host of production challenges, its CFO said.

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E.l.f. Beauty shares soar 19% after retailer indicates its torrid growth may not be over

E.l.f. Beauty grew sales in the high double-digit percentages again, but it expects that growth to start to moderate in the coming fiscal year.

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Yellen Warns Israel Against Cutting Off Palestinian Banks

The Treasury secretary said allies from the Group of 7 nations must work to stabilize the West Bank economy and increase Gaza aid.

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Some Silicon Valley VCs Are Becoming More Conservative

Marc Andreessen, Chamath Palihapitiya and several other tech venture capitalists are increasingly criticizing President Biden and making their disaffection known in an election year.

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Warner Bros. Discovery's NBA rights offer could put it in competition with Amazon, not NBC

Warner Bros. Discovery may be more interested in going after an NBA package earmarked for Amazon than on games slated for NBCUniversal, sources say.

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Fintech nightmare: 'I have nearly $38,000 tied up' after Synapse bankruptcy

Synapse is a middle man between customer-facing fintech brands and FDIC-backed banks, but it has had disagreements about how much in customer balances it owed.

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US sues in bid to break up Ticketmaster owner

Officials allege the company used illegal tactics to dominate the concert industry, driving up prices.

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Kellogg's recalls chocolate cornflakes over choking risk

The cereal brand asks customers to throw boxes away after "hard lumps" are found in some.

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Vennells told not to make Post Office front page news

The former Post Office chief executive faced a second day of questions into the Horizon IT scandal.

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Sales of newly built homes tank in April, as prices and interest rates rise

Higher mortgage rates were hampering sales of newly built homes in April.

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Vet prescription fees could be capped by watchdog

The measure is one move the UK watchdog could take after it completes a formal inquiry into the sector.

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C. Gordon Bell, Creator of a Personal Computer Prototype, Dies at 89

It cost $18,000 when it was introduced in 1965, but it bridged the world between room-size mainframes and the modern desktop.

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13 of China’s biggest fiscal manoeuvres to boost economy since the pandemic years

The People’s Bank of China keeps a running tab of big policy moves, and it shows that trillions of yuan worth of support measures have been rolled out since 2021.

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Palm Beach housekeepers are making $150,000 a year due to massive demand from the wealthy

The mass wealth migration to Florida from New York and other high-tax states has created record demand for household staff in elite Florida enclaves.

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China signals economy is priority as Xi Jinping meets business leaders ahead of key party meeting

Chinese president calls for deepened reforms to address economic woes and says country should pursue ‘goal- and problem-oriented’ approach.

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Will Big Donors Follow Haley Back to Trump?

An endorsement of sorts by the former Republican presidential hopeful may provide cover to prominent backers to follow suit.

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HSBC fined over treatment of customers in difficulty

The City watchdog said that the bank failed customers who has been facing arrears.

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TikTok Moves to Limit Russian and Chinese Media’s Reach in Big Election Year

The platform will keep state-affiliated media accounts out of users’ feeds if they “attempt to reach communities outside their home country on current global events and affairs.”

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China’s distressed asset managers in the spotlight, ‘rescue’ role of troubled state-backed firms questioned amid property woes

China is seeking to defuse financial risks, with asset management companies expected to help other ailing sectors, particularly property developers, but the firms are already highly leveraged due to bond financing and exposure to the troubled real estate sector.

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What Trump 2.0 Could Mean for the Federal Reserve

A second Trump administration could shake up personnel and financial regulation at America’s central bank, people close to his campaign said.

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China’s solar panel industry seeks to curb ‘vicious competition’ with M&As and easy exits to control capacity as EU, US turn up heat

Falling prices and ‘operational pressures’ are flagged at a meeting of the China Photovoltaic Industry Association amid domestic overcapacity concerns.

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A Second Dairy Worker Has Contracted Bird Flu, C.D.C. Reports

The new case, in a Michigan farmworker, did not suggest that bird flu was widespread in people, health officials said, adding that the risk to the general public remained low.

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Setback Deals Blow to Neuralink’s First Brain Implant Patient, but He Stays Upbeat

Elon Musk’s first human experiment with a computerized brain device developed significant flaws, but the subject, who is paralyzed, has few regrets.

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Abortion Pills May Become Controlled Substances in Louisiana

A bill that is expected to pass would impose prison time and thousands of dollars in fines on people possessing the pills without a prescription.

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Frank Shrontz, 92, Dies; Led Boeing in the Last of Its Golden Years

Known for his leadership and his commitment to company culture, he left as chief executive in 1996, opening the door to a corporate makeover.

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'People are just not worried about being scammed'

Fraudsters are increasingly using AI, but are people taking the problem seriously enough?

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What is it like to fly a plane during turbulence?

Aviation experts tell the BBC what pilots do during turbulence and what passengers should be doing.

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Nvidia, Powered by A.I. Boom, Reports Soaring Revenue and Profits

The Silicon Valley company was again lifted by sales of its artificial intelligence chips, but it faces growing competition and heightened expectations.

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Taiwan’s prized semiconductors not unbreakable ‘silicon shield’ they once were as mainland China, West develop own bargaining chips

The risk of cross-Strait conflict with mainland China appears to be chipping away at Taiwan’s long-held dominance in the semiconductor industry, underpinning a sense of urgency in diversifying hi-tech supply chains.

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Inside the Life of Nicole Shanahan, RFK Jr.’s Running Mate

Nicole Shanahan, a lawyer who was married to Sergey Brin, a Google founder, led a rarefied and sometimes turbulent life in Silicon Valley, according to a Times examination.

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Warner Bros. Discovery and ESPN strike 5-year deal for College Football Playoff games

Warner Bros. Discovery will carry two College Football Playoff games on TNT and Max's sports tier starting in December.

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OpenAI Strikes a Deal to License News Corp Content

The deal gives OpenAI’s chatbots access to new and archived material from The Wall Street Journal, The New York Post, MarketWatch and Barron’s, among others.

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Sam Bankman-Fried, FTX Founder, Transferred From Brooklyn Jail

The FTX founder’s final destination wasn’t clear, but Mr. Bankman-Fried has told people close to him that he expected to be moved to a facility in Mendota, Calif.

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CFPB says buy now, pay later firms must comply with U.S. credit card laws

The buy now, pay later market is dominated by fintech firms like Affirm, Klarna and PayPal.

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Target shares slide as consumers buy fewer groceries and home goods

Big-box retailer Target reported first-quarter earnings days after it said it would lower prices on thousands of groceries and everyday items.

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Australian wine pours back into China as tariff-free shipments surge to over US$10 million in April

China imported over US$10 million of wine from Australia in April, up from US$126,000 a year earlier, after it lifted punitive import tariffs at the end of March.

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Why Target and McDonald's are cutting prices and offering deals

Target's weak results show the fierce battle between retailers trying to outmatch each other on deals.

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Pfizer aims to save $1.5 billion by 2027 in first wave of new cost cuts

Pfizer is also carrying out another $4 billion cost-cutting effort, which it announced last year as demand for its Covid vaccine and drug Paxlovid slumped. 

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Fraud Trial Begins for Chinese Billionaire Who Allied Himself With America’s Right

Charged with defrauding thousands of investors in the U.S. and overseas of more than $1 billion, Guo Wengui could face decades in prison.

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Fed Minutes Show Officials Were Wary About Inflation at May Meeting

Federal Reserve policymakers were still willing to raise rates if the economy surprised them, notes from their most recent meeting suggested.

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U.K. Inflation Falls to 2.3%, Lowest in 3 Years

The decline, which was less than economists expected, is nearing the Bank of England’s 2 percent target.

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Rollback in IRA's EV incentives would benefit China, says GM board member

The IRA includes incentives for EV buyers as well as support for carmakers and suppliers to produce all-electric vehicles and their components in North America.

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Ex-Post Office boss cries as she admits incorrect evidence

Paula Vennells broke down several times during her evidence to the Horizon IT scandal inquiry.

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Home sales slipped unexpectedly in April, despite big gains in supply

Inventory in April rose 9% month to month and was up 16% from the year before, but still just a 3.5-month supply at the current sales pace.

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Businesses in D.C. Blame the Government for the District’s Empty Offices

Workers in Washington have returned to the office slowly, with a pervasive and pronounced effect on the local economy.

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GM all-electric Chevy Equinox goes on sale as the latest test for EV production and demand

Affordable entry-level EV pricing has long been a goal for GM, Tesla and others as Chinese rivals like BYD and Nio grow their sales beyond China.

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‘Extreme Turbulence’ on Singapore Airlines Flight Kills 1 and Injures Dozens

A Singapore Airlines flight from London was diverted to Bangkok, where more than 70 people were being treated for injuries.

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It's not your imagination. Pickleball courts are everywhere

Pickleball courts have become big business as franchises, country clubs and fitness clubs build and convert space.

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Chinese companies look to Qatar as Middle East entry point, alternative to fickle West

Qatar is emerging as a potential destination for Chinese businesses and investment looking to find a way into the Middle East or Africa, with more companies showing interest in setting up a foothold in the Persian Gulf.

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What to Watch For in Nvidia’s Q1 Earnings Report

Expectations are sky-high for the chipmaker’s latest earnings report. The company is at the center of Wall Street’s focus on artificial intelligence.

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Chinese carmaker FAW joins Nio to promote battery-swap technology to ease anxieties over EV driving range

Nio’s battery-swapping technology is gaining a huge supporter in state-owned FAW Group as both pledge to set industry standards and ease concerns about drivers about EV driving range.

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Inflation rate falls to lowest in almost three years

Prices rose at 2.3% in the year to April, down from 3.2% the month before, official figures said.

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Relax, China’s economy is not headed for a crisis

While it would help if Chinese households saved less and spent more, the economy is probably in a much better position than the pessimists claim

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What went wrong for online car retailer Cazoo?

As Cazoo enters administration, we look at the rise and fall of the online used car retailer.

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China’s overcapacity presents ‘opportunity’ for British service firms as businesses go global

The British Chamber of Commerce in China sees potential for benefit in China’s excess manufacturing capacity, with British firms capable of providing necessary services as firms go global.

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Taylor Swift and Olympics scams fuelling fraud

Money lost to fraud fell last year, but purchase and romance scams are on the rise.

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UK watchdog looking into Microsoft AI taking screenshots

The ICO wants to know the safeguards around Recall, which can take screengrabs of your screen every few seconds.

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McDonald's franchisee group says $5 value meal can't last without company investment

The $5 value meal will hit menu boards beginning June 25 and will last roughly a month.

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China’s durian prices drop as Vietnam steps in to make up for gaps in Thai supply

China’s durian market is showing signs of change, with a drop in price attributed to more supply from Vietnam, a deadly heatwave in major exporter Thailand and a tightening of consumer budgets.

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Donald Trump’s Wealth Now Hinges on Trump Media

Mr. Trump has treated Trump Media, which runs his social network Truth Social, as a low-cost sideshow. Now a big portion of his wealth hinges on its success.

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Here's where rents are rising — and where they're falling

Of the nation's 20 largest cities, Seattle saw the highest year-over-year increase in single-family rents, followed by New York and Boston.

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China considering car tariffs to retaliate against US and EU moves, trade group says

Washington has announced tariff hikes on a wide range of Chinese goods, while Brussels has taken actions to tackle Chinese subsidies to various industries.

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Rent Is Harder to Handle and Inflation Is a Burden, a Fed Financial Survey Finds

The Federal Reserve’s 2023 survey on household financial well-being found Americans excelling in the job market but struggling with prices.

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Lowe's beats on earnings and revenue, even as consumers spend less on DIY projects

The home improvement retailer Lowe's said sales fell again year over year, and it reiterated its full-year earnings forecast.

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David Redden, Who Brought Ingenuity to the Auction Block, Dies at 75

He brought a P.T. Barnum-like showmanship to Sotheby’s, where he sold items like Babe Ruth’s bat and a research rover that had been left behind on the moon.

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Pixar Lays Off 14% of Its Staff and Will Stop Making Shows for Disney+

The animation studio, which has struggled over the past few years, will stop making original shows for Disney+.

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Pixar is laying off 14% of its workforce as Disney scales back content

About 14% of the workforce at Disney's Pixar Animation Studios, or around 175 employees, are being laid off.

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Macy’s Reports Another Drop in Sales but Sees ‘Traction’ in Turnaround

The largest department store chain in the United States has not reported an increase in comparable-store sales since early 2022.

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How the Media Is Covering Justice Merchan in Trump’s Criminal Trial

Conservative outlets have criticized Justice Juan M. Merchan as politically motivated, while some liberal media organizations have praised him for muzzling Mr. Trump.

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U.S. Seeks to Join Forces With Europe to Combat Excess Chinese Goods

Treasury Secretary Janet L. Yellen warned that China’s industrial strategy posed a global threat that requires a united response.

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China must ‘liberate’ mind, embrace primary market treasury-bond purchases by central bank: finance ministry researcher

China’s central bank is set to participate in treasury-bond trading in the secondary market, and a prominent researcher affiliated with the Ministry of Finance says purchases in the primary market should also be made.

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Water firms ask for bill rises of between 24% and 91%

Southern Water wants to increase its bills by £436 a year, but is not expected to get approval.

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Trump Calls ‘Apprentice’ Biopic at Cannes ‘Garbage’ and Plans to Sue

The director of “The Apprentice” was unfazed by the threat to the film, which covers the ex-president’s relationships with his first wife and the fixer Roy Cohn.

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Xpeng trims net loss in first quarter as deliveries, margins increase and licensing fees from VW jump

Xpeng narrowed its losses last quarter as deliveries and vehicle margins improved. Technology licensing fees from Volkswagen also helped.

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Import tariffs ‘inevitably’ making US inflation worse, China commentary says, as consumers and firms continue to foot the bill

Commentary from China’s top economic planner says Washington’s anti-globalisation, decoupling and disconnection efforts have ‘inevitably’ hurt US inflation.

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Scarlett Johansson and OpenAI’s Trust Issues

The actress, who criticized the use of a soundalike voice for ChatGPT, is the latest to raise concerns about the artificial intelligence start-up’s practices.

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China’s returning overseas graduates hit in the pocket, face harsh reality of job market

Students with overseas undergraduate degrees in China earn an average first monthly salary about 2,700 yuan (US$374) below their expected income, according to a survey.

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China National Nuclear Power starts work on nation’s largest offshore solar farm

The 2GW pilot project is coming up near its nuclear plant in Jiangsu province. The US$1.4 billion project will include a 0.4GW energy-storage facility and cover an area larger than Hong Kong’s Tseung Kwan O district.

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China’s overcapacity so ‘deeply rooted’ at local levels that analysts say its ebbs and flows have underpinned economy for decades

The tsunami of new-energy manufacturing flooding the industry is not the first time a wave of Chinese goods has forced institutional upheavals and left foreign firms with little room to compete.

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These elephants are dying on rail tracks - can AI save them?

Officials in the Indian state of Tamil Nadu are using AI to monitor elephant movement on rail tracks.

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China’s GPS rival BeiDou prepares to take off as Beijing moves to strengthen home-grown satellite navigation

Chinese satnav industry hits US$74 billion output, has 20,000 market entities and employs nearly 1 million people: report.

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Why Biden won’t beat China by out-Trumping Trump on trade tariffs

Joe Biden’s decision to double down on Donald Trump’s China tariffs harks back to policies that might have worked in the 1980s, and is a loser. He was on the right track with building US economic muscle at home, and he and the country would be better served by focusing on that.

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China property: will fleet of policies to buoy sales stem slack tides in the housing market?

By allowing local governments and state-owned enterprises to buy unsold land and housing from distressed developers, China is betting a property slump weighing down the economy can be stopped once and for all.

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Tesla’s closest rival in China Li Auto reports a big drop in first-quarter earnings, margins in warning to EV market peers

Tesla’s closest rival in China’s EV market reported a major setback in the first quarter, after earnings and deliveries slumped from the preceding three months. Margins eroded amid price discounting.

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Chinese EV makers delay payments to vendors as they feel the heat from slowing sales, price cuts

China’s leading EV makers are taking longer to settle payments with suppliers, indicating stress in the industry because of slowing sales and mounting discounts.

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Europe seemingly still split over China after Xi Jinping’s whistle stop tour does little to tip the scales

In this week’s issue of the Global Impact newsletter, we look back at Chinese President Xi Jinping’s trip to France, Serbia and Hungary, and ponder what has changed in the ever-complex relationship between Beijing and Brussels.

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Hong Kong stocks rise to 10-month highs after China’s property rescue measures

Hong Kong stocks at 10-month highs after China’s property support measures cheer investors.

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China leaves benchmark lending rates unchanged, days after ‘historic’ steps to stabilise crisis-hit property sector

China left benchmark lending rates unchanged on Monday having last week announced ‘historic’ steps to stabilise its crisis-hit property sector.

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How should countries deal with falling birth rates?

As the UK and US continue to see falling birth rates, options to deal with the issue are limited.

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What must China do to avoid a Japan-type recession? Economist Richard Koo adds up why ‘the Chinese situation is far more serious’

Economist Richard Koo’s theories influenced Western policy decisions after the global financial crisis, and now he has strong words for Chinese policymakers on the need for fiscal stimulus to ward off a ‘balance-sheet recession’.

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How can China get the best tech? Keep calm and learn from the US, economist says

Yao Yang from Peking University says a developed, capitalist market and openness to immigrants helped the United States lead the way over the past century.

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Western concerns about Chinese oversupplies are woefully misplaced

The West misunderstands China’s efforts at boosting innovation and satisfying domestic demand as seeking to undermine foreign competitors. While oversupply is a valid concern, a bigger problem is concentrated production among a small cluster of firms which US tariffs on China will not address.

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China’s diamond industry having a hard time, any way you cut it, as more consumers go for gold

With consumption taking a hit in fraught economic times, safe-haven investments are outshining discretionary diamond purchases in the eyes of many Chinese buyers.

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China’s corruption watchdog targets Agriculture Minister Tang Renjian

Tang is the first member of the Communist Party’s current Central Committee to come under investigation for ‘discipline violations’.

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Is another Asian currency crisis coming? Keep an eye on China’s yuan

Concerns about an Asian currency war and what it would mean for the world economy have been underpinned by a strong US dollar. Some economies may choose to intervene in currency markets, but the big question is whether China will devalue the yuan or proceed with caution

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China’s high-speed railway in Indonesia is adding trips – but debt could hold back the gravy train

A Chinese high-speed railway line in Indonesia has been open for six months – and is popular enough that new trips have been added – but high debt levels are raising questions about its long-term utility.

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Chinese carmaker Chery banks on battery technology to rev up transition to EVs, eyeing Gotion’s solid-state type

State-owned company plans to be first to use Gotion High-Tech’s solid-state batteries when they start mass production, chairman Yin Tongyue says.

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China’s April economic data delivers ‘mixed bag’: 6 takeaways as property slump drags on

Property investment in China fell again in the first four months of the year and retail sales growth cooled in April, but industrial output remained strong last month, data released on Friday showed.

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China property: Beijing launches US$41 billion of funds to buy unsold homes, repurchase of ‘idle’ land in drive to rescue housing market

Beijing has announced 300 billion-yuan in funds to help clear excess housing inventory, as well as measures to ensure developers have access to financing and that homes are delivered on time.

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China outlook ‘strongly negative’ for German engineers, with poor demand and overcapacity named as culprits

German industrial engineering firms reported a negative outlook for their China business in a recent survey, with weak demand and overcapacity most frequently mentioned as the cause for their low confidence.

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Chinese Vice-Premier He Lifeng calls on cities to buy back residential land, unsold homes to aid distressed developers

He Lifeng stressed the need to ‘carry on the battle’ to surmount the risks that unfinished and unconstructed homes represent, as the health of the property market is tied closely to social wellness and economic development.

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China tests rail gun, Lawrence Wong ‘pride of Hainan’, Cathay bosses’ hefty pay rise: SCMP’s 7 highlights of the week

From China’s rail gun sending smart bomb into stratosphere to Singapore’s Lawrence Wong being ‘pride of Hainan’, here are a few highlights from SCMP’s recent reporting.

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China’s ‘deteriorating’ property sector weighs heavy, but measures offer hope to economy

China’s property investment fall accelerated in the first four months of the year, while retail sales growth slowed in April, data released on Friday showed.

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Is China's bubble tea bubble about to burst?

Chinese bubble tea shares fizzle, raising questions about the industry and Hong Kong's stock market.

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China’s medical testing sector scales down with pandemic peak in rear-view

With the end of pandemic control measures severely reducing the demand for medical testing services, China’s laboratories are facing massive declines in revenue and laying off large portions of their staff.

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Xi Jinping and Vladimir Putin pledge to develop even closer China-Russia ties in energy and finance

Bilateral trade, an important lifeline to Russia since it invaded Ukraine, is already at a record US$240 billion, with China its largest customer for crude oil.

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The man who turned his dead father into a chatbot

The "grief tech" firms helping users create talking avatars of their dead relatives.

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'Corrupt ship inspectors demand our food and cargo'

Seafarers tell the BBC port officials routinely demand bribes before allowing ships through.

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Cow dung's key role in India's energy industry

India is hoping that biogas, produced from farm waste, will curb its reliance on imported gas.

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The post-Brexit hard sell for British food in Asia

The UK still lags far behind its main European counterparts, both in terms of sales and reputation.

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Will AI dream up the hit TV shows of the future?

Television production firms admit they are already using AI to come up with new programme ideas.

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How quantum physics could 'revolutionise everything'

From unhackable communication networks to powerful computers, quantum technology promises huge advances.

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The rise of Sweden's super rich

Why the Nordic nation, despite its reputation for social equality, has so many billionaires.

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'Garden floods show need to work with nature'

Insurance scheme urges gardeners to use planting to protect their homes from floods.

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