DANIEL LI
Mass layoffs at PwC after exodus of clients in China
PricewaterhouseCoopers LLP is reducing staff in China due to declining revenue prospects and client exodus. Over 100 employees across Beijing, Shanghai, and other locations are being laid off. The firm faces regulatory scrutiny and client losses, prompting job inquiries from competitors. PwC's mainland China arm could face record fines and operational suspension.
PwC names new China head amid regulatory scrutiny
PwC said in a statement to Reuters on Wednesday that Shanghai-based Li assumed the role of chairman of PwC China and Asia Pacific with effect from July 1, taking over from Raymund Chao who retired on June 30. The firm came under the Chinese regulatory spotlight earlier this year for its role as the auditor of troubled property company China Evergrande Group.
Renault, Geely create joint venture for hybrid, combustion engines
Renault and Geely's joint venture, HORSE Powertrain, aims to develop combustion and hybrid engines, bolstering competitiveness and addressing decarbonization challenges. With anticipated annual revenue of 15 billion euros and a production target of five million units. The venture, led by Matias Giannini as CEO and Daniel Li as chairman, signifies both companies' strategic partnership efforts.
Car giants vie for EV crown at Beijing's Auto China show
Beijing's Auto China show, which lasts until May 4, sees dozens of firms square off in a bid to draw customers at one of the country's biggest car shows. Thursday saw crowds surge into the convention complex hosting the event, which takes place every other year but had not been held since 2020 because of the pandemic.
Has China lost its taste for the iPhone?
Evidence is mounting that, for many in China, the iPhone no longer holds the appeal it used to. During the first six weeks of the year, historically a peak season for Chinese shoppers to spring for a new phone, iPhone sales fell 24% from a year earlier, according to Counterpoint Research, which analyzes the smartphone market.
Netflix January 2024: Your ultimate guide to binge-worthy Originals!
An early look at the upcoming Netflix Originals set to premiere globally in January 2024.
- Go To Page 1
EA Sports UFC 5: Here’s complete roster of fighters and weight classes
EA Sports has launched UFC 5, the franchise's debut on Xbox Series X|S and PlayStation 5. It offers fresh features and a roster with fighters from various weight classes, including Heavyweight, Light Heavyweight, Middleweight, Welterweight, Lightweight, Featherweight, Bantamweight, Flyweight, Women's Bantamweight, Flyweight, and Strawweight divisions. The diverse roster includes legendary and current fighters.
Combat veteran is top contender to replace China's missing defence minister
General Liu Zhenli, the head of China's military body responsible for combat operations, is likely to replace Defence Minister Li Shangfu, who has been missing for over six weeks. This appointment could enhance military engagement with US amid regional tensions. Liu currently serves as the Chief of the Joint Staff Department of the Central Military Commission.
Wanna listen to Spotify in your local language? Streaming platform now testing AI-powered voice translation feature
Spotify is testing a new AI-powered tool called Voice Translation, which allows podcast creators to automatically translate their episodes into different languages while keeping the original voice. The tool uses generative AI to preserve the speaker's style during translation. Spotify has partnered with popular podcasters such as Dax Shepard and Trevor Noah to generate voice translations in languages like Spanish, French, and German.
Southeast Asians wary of new conflicts as big powers join ASEAN summit
Indonesian President Joko Widodo urged world leaders to avoid confrontation at a Southeast Asian summit dominated by major power rivalries. The summit, attended by U.S. Vice President Kamala Harris, Chinese Premier Li Qiang, and Russian Foreign Minister Sergei Lavrov, discussed issues such as trade, technology, China's assertiveness in the South China Sea, and Myanmar's refusal to cooperate with ASEAN.
If China wants to play the role of 'spoiler' at G20 Summit, that option is available: WH
The US has stated that it is up to China to decide its role at the G20 Summit in New Delhi and that if China wants to be a "spoiler", it has that option. The US encourages China to focus on problem-solving and delivering for developing countries rather than geopolitical issues. Chinese President Xi Jinping will not attend the summit, and the delegation will be led by Premier Li Qiang. Russia's illegal war in Ukraine will also be a focus of discussion. The US remains committed to the G20 as a critical forum for global problem-solving.
Kidambi Srikanth, HS Prannoy enter pre-quarters; Aakarshi Kashyap knocked out
Indian shuttlers Kidambi Srikanth and HS Prannoy entered the pre-quarterfinals of the men's singles competition in the BWF Japan Open but it was curtains for Aakarshi Kashyap, who ran into Akane Yamaguchi in her very first outing, here on Tuesday. The tournament is taking place at the Yoyogi National Gymnasium.
History as Chinese man wins for first time at Australian Open
Teenager Shang Juncheng created a slice of history on Monday by becoming the first male Chinese player to win an Australian Open main draw singles match, a feat he called "huge" for his country.
Alibaba's Lazada appoints Chun Li as new CEO
Lazada Group Chief Executive Officer and co-founder Pierre Poignant will be replaced by Chun Li, a former Alibaba executive, who is currently Lazada co-president and head of its Indonesia operations, the company said in a statement.
Jack Ma's retirement plan sparks concerns about Alibaba's future
On Monday, Ma named the company's Chief Executive Officer Daniel Zhang as his successor who would take charge in September next year, while he would continue to be company's Director.
Student satellite helps solve major space mystery
The CubeSat mission, called the Colorado Student Space Weather Experiment (CSSWE), houses a small, energetic particle telescope to measure the flux of solar energetic protons and Earth's radiation belt electrons.
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