The Netherlands is launching trial festivals to evaluate risks, while other countries await coronavirus passports.
The Netherlands is launching trial festivals to evaluate risks, while other countries await coronavirus passports.
President Biden and Vice President Harris praised the guilty verdicts delivered Tuesday by a Minneapolis jury in the murder trial of former police officer Derek Chauvin in a joint appearance at the White House.
CUPE 1004 members have ratified a renewal of its collective agreements with the City of Vancouver and the Board of Parks and Recreation. The three-year deal, that includes wage increases and new provisions for Indigenous spiritual leave, was ratified by CUPE 1004 members in a vote held last week.
California registrations for Tesla's Model 3 mass-market sedan fell 54% on a yearly basis to 8,060, while Tesla's Model Y compact crossover utility vehicle garnered 12,227 in the first quarter, Cross-Sell data showed on Tuesday. Tesla had earlier said it was receiving strong reception of the Model Y in China and is quickly progressing to full production capacity in the country.
(Bloomberg) -- The competition between Wang Xing’s Meituan and fellow tech billionaire Jack Ma’s Alibaba Group Holding Ltd. is turning into one of the great rivalries in Chinese business.While Alibaba is the dominant force in e-commerce with a global reputation, Wang, a generation younger, has built Meituan into a fearsome rival, the world’s largest delivery empire with ambitions to encroach on Alibaba’s home turf. There’s also years of bad blood between the two companies after an early alliance broke down.Now Wang, 42, has raised a record $10 billion to develop promising technologies like autonomous delivery vehicles and drone delivery to reduce labor costs and expand the footprint of Meituan’s food and e-commerce network. These investments, analysts say, will be key to supporting what Wang has previously called its “top priority”: community e-commerce, an arena where tech giants from the likes of Alibaba to JD.com Inc. and Pinduoduo Inc. are all seeking a foothold.“Wang Xing is a driven entrepreneur and calculated strategist,” said Michael Norris, a senior analyst with Shanghai-based consultancy AgencyChina. “Community group buying is a ‘must play, must win’ segment for Meituan.”Wang and other tech tycoons will need to tread carefully. Over the past six months, China’s antitrust watchdog has rolled out new laws giving them greater oversight of the internet sphere, and launched investigations into abuses like forced exclusive arrangements and offering preferential pricing to new customers. After Alibaba was slapped with a record $2.8 billion fine this month, investors now expect Meituan and its backer Tencent Holdings Ltd. to be next in the line of fire, given their dominance in meal delivery and other spheres of internet life as well as past brushes with the law.What Is Behind China’s Crackdown on Its Tech Giants: QuickTakeMeituan’s community e-commerce arm was among a handful of operators penalized in March for excessive subsidies, alongside units of Pinduoduo Inc. and Didi Chuxing. State media have called out the industry’s preoccupation with growing grocery deliveries instead of driving innovation, while the deaths of delivery riders in the past have also led to scrutiny of Meituan’s business practices. In January, it also shut down its crowd-sourced health insurance service after regulators tightened scrutiny over online insurance.The record fundraising -- the largest-ever new stock issuance by a Hong Kong-listed company -- appears to defy expectations that the days of unfettered expansion for Chinese internet entrepreneurs are over. The $10 billion raised will more than double Meituan’s cash, giving it the biggest war chest after Alibaba’s, to invest in new technologies like autonomous delivery and build infrastructure for online groceries. While the company didn’t single out the red-hot community commerce space in its deal term sheet Monday, investors expect Meituan to funnel capital into that sector to secure a slice of the pie.Wang’s firm, which has been cultivating autonomous delivery for years, will face stiff competition in this area from rivals including Didi and JD.com, which have also been exploring the technology. Alibaba, for its part, made its first trial drone delivery in 2015. Meituan’s efforts have accelerated since the Covid-19 outbreak last year and it’s so far deployed self-driving vehicles to deliver 35,000 grocery orders in Beijing. In Shenzhen, its drones have also delivered more than 1,000 orders as of mid-April since a pilot program kicked off in January.Wang, a coding guru whose methodical obsession with data and algorithms proved instrumental in humbling Alibaba’s rival meal service Ele.me, has openly telegraphed his ambitions. In a 2017 interview with local media, he said Meituan could join Alibaba and Tencent as the third member of a Chinese internet triumvirate in five to 10 years, due to the value it creates in food, travel and other services.“I don’t believe in setting limits for myself,” Wang said in the interview. “As long as we’re clear on our core purpose -- Who are we serving? What services do we offer? -- we will just keep trying different types of businesses.”But his past gambles have been somewhat hit or miss. An early foray into ride-hailing petered out when Chinese regulators cracked down on Didi. He bought Mobike in a deal valuing the startup at $3.4 billion in 2018, the height of China’s bike-sharing bubble, and has since had to scale back the business’s overseas operations. The travel division got sideswiped by Covid and lacks a roadmap to profitability against Trip.com Group Ltd. In all, Meituan has launched as many as 200 services over the years.“Wang is certainly a very ambitious tech executive,” said Brock Silvers, chief investment officer at private equity fund Kaiyuan Capital in Hong Kong. “For successful Chinese entrepreneurs, however, ambition can sometimes correlate to a lack of focus.”Now the serial entrepreneur, worth roughly $21.3 billion, is tooling up for his biggest battle yet, taking on Pinduoduo, JD.com and a host of nimbler startups in the field of groceries. As Meituan deepens its presence in e-commerce, the biggest rival standing in his way is Ma’s Alibaba.The animosity between Wang and Ma dates back more than half a decade. Alibaba -- an early investor in Meituan -- refused to put more money into the startup in mid-2015 because it wouldn’t fully integrate its app with the larger firm’s. In response, Wang turned to Alibaba’s arch-rival Tencent, which pledged $1 billion of funding, merged its delivery services with Meituan and allowed the combined company to operate independently, sidelining his one-time partner.Read more: The Greatest Delivery Empire on Earth Has Alibaba’s AttentionIn an interview with Bloomberg News published in 2019, Wang said he thought Ma had “an integrity problem,” citing the way he spun off digital payments subsidiary Alipay without the approval of Alibaba’s board. Instead, Wang called Amazon.com Inc. founder Jeff Bezos a role model, pointing to his willingness to defer profits and reinvest in new business.Meituan is now adopting that same philosophy, saying in March it expects to stay in the red for the coming quarters as it ventures into online groceries. In particular, it’s expanding aggressively into community e-commerce, where buyers in the same neighborhood enjoy bulk discounts on fresh produce. The market is estimated to reach nearly 121 billion yuan ($19 billion) this year, drawing heavy investments from other tech giants.“The cash burn in grocery will be quite brutal, just like with the ride-hailing wars,” said He Qi, a fund manager at Huatai Pinebridge Fund management. “Cash is a necessity in winning this one, and whoever is victorious will be reap great rewards because grocery shopping is a higher frequency transaction.”(Updates with share action chart in the fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
SNV earnings call for the period ending March 31, 2021.
Qumulo Expands Global Presence to Asia Pacific; Expands Strategic Partnership with Hewlett Packard Enterprise
Politicians, rights activists and family members and even world leaders reacted with jubilation and relief Tuesday as sacked Minneapolis policeman Derek Chauvin was convicted of the murder of George Floyd, a Black man who died when the officer knelt on his neck for more than nine minutes last year. Here are some the immediate reactions following the announcement of the guilty verdicts on all three counts—second degree murder, third degree murder and second-degree manslaughter.White HouseBiden welcomed the verdict, saying Floyd’s death was “a murder in full light of day, and it ripped the blinders off for the whole world” to see systemic racism.But he warned: “It’s not enough. We can’t stop here. We’re going to deliver real change and reform. We can and we must do more to reduce the likelihood that tragedies like this will ever happen again.”“This is a day of justice in America. History will look back at this moment,” said Kamala Harris, America’s first Black vice president, on a call with Floyd’s family earlier Tuesday.Family “I am feeling tears of joy, so emotional that no family in history ever got this far. We were able to get a guilty charge on all counts. We got a chance to go to trial and we took it all the way. This right here is for everyone that’s been in this situation. Everybody.” —Floyd’s brother, Rodney Floyd“GUILTY! Painfully earned justice has finally arrived for George Floyd’s family. This verdict is a turning point in history and sends a clear message on the need for accountability of law enforcement. Justice for Black America is justice for all of America!” —Floyd family lawyer Ben CrumpPoliticians“George Floyd’s family and community deserved for his killer to be held accountable. Today, they got that accountability.” —former first lady and ex-US Secretary of State Hillary Clinton“I’m thankful for George Floyd’s family that justice was served. America was forever changed by the video of Derek Chauvin killing George Floyd. However, a guilty verdict doesn’t mean the persistent problem of police misconduct is solved. We’ll keep working for meaningful change” —US Senate Majority Leader Chuck Schumer“That a family had to lose a son, brother and father; that a teenage girl had to film and post a murder, that millions across the country had to organize and march just for George Floyd to be seen and valued is not justice. And this verdict is not a substitute for policy change.” —US Congresswoman and Democratic rising star Alexandria Ocasio-Cortez“Today’s verdict is an important step forward for justice in Minnesota. The trial is over but our work has only just begun.” —Minnesota governor Tim WalzAcademia, activism and tech“Chauvin might never see the light of freedom again. That would be just. But it wouldn’t be nearly enough. The SYSTEM that let him murder George Floyd must be changed. But for a bystander’s iPhone camera, Chauvin wd’ve gotten away with murder!” —Harvard law professor Laurence Tribe“The evidence of our eyes met at last by accountability in the eyes of justice” —US voting rights activist and Democrat Stacy Abrams“While today’s verdict is a step forward in the fight for police accountability and may help heal a grieving community, the systems that allowed a police officer to murder Mr. Floyd, ripping him away from his family and the communities that loved him so much, remain fully intact.” —the American Civil Liberties Union.“Right now I’m thinking of George Floyd, his family and those who knew him. I hope this verdict brings some measure of comfort to them, and to everyone who can’t help but see themselves in his story. We stand in solidarity with you, knowing that this is part of a bigger struggle against racism and injustice.” —Facebook founder and CEO Mark ZuckerbergInternational“I was appalled by the death of George Floyd and welcome this verdict. My thoughts tonight are with George Floyd’s family and friends.” —British Prime Minister Boris Johnson(FRANCE 24 with AFP)
EXCLUSIVE: Prolific TV pilot director James Griffiths has been tapped to direct and executive produce ABC’s fairytale drama pilot Epic, from Once Upon a Time creators Adam Horowitz and Edward Kitsis and ABC Signature. Shooting is currently underway in Ireland. Epic, starring Brittany O’Grady, is described as a romantic anthology series that reinvents fairy tales […]
There was no serious test or erosion of the blue wall of silence — and not enough of a focus on police unions, either. The original statement made by officers after Floyd’s murder has gone viral for a reason
Jurors returned a verdict of guilty on all three charges against former Minneapolis police officer Derek Chauvin, who was tried for the murder of 46-year-old George Floyd, on Tuesday, April 20, after less than 10 hours of deliberation.Chauvin was found guilty on all three charges – second-degree unintentional murder, third-degree murder, and second-degree manslaughter – for the killing of Floyd. The verdict was announced just after 4 pm on Tuesday afternoon at the Hennepin County Government Center.Footage captured by Instagram user @karlreichert shows bells ringing at the Westminster Presbyterian Church. “Bells are ringing in Minneapolis,” wrote @karlreichert. “Thank God there’s justice for George Floyd.” Credit: @karlreichert via Storyful
Jury comes to its decision following high-profile trial
President Joe Biden and Vice President Kamala Harris each made a point of saying that there's still work to be done while delivering remarks on the trial of Derek Chauvin, the former Minneapolis police officer who was found guilty in the death of George Floyd. Biden agreed that Tuesday's verdict was "not enough." "Today, a jury in Minnesota found former Minneapolis Police Officer Derek Chauvin guilty on all counts in the murder of George Floyd last May," Biden said Tuesday evening.
Netflix has been tightening its controls on password-sharing, a shift that could reap billions in previously lost revenue, but the company acknowledges it is a delicate process. “We test many things but we would never roll something out that feels like turning the screws” on consumers, Co-CEO Reed Hastings said during the company’s first-quarter earnings […]
Halifax Humane Society gave “special thanks” to the donor “for their kindness and generosity”
Derek Chauvin’s guilty verdict confirmed what many medical experts said on the stand: his death didn’t look like an accident, heart attack, or overdose
Netflix scored a big haul of Oscar nominations this year – 35 in total – putting the streamer in the top three for a studio in the history of the awards. The company’s big cheeses, including co-CEOs Reed Hastings and Ted Sarandos, were asked today, on their first-quarter financials video, out of these films, which […]
Police responded to call that female was trying to stab someone with knife
Today's Apple event, chock-full of the company's products that will help decide whether the company meets, exceeds or undershoots Wall Street expectations for its future growth and performance, had little to no impact on its share price. It's almost humorous; certainly Apple's shares can move in the wake of an earnings release, but a new product digest? Today, for example, Apple shares closed the day off 1.28% and have since fallen a further 0.36%.
President Biden delivered remarks on the guilty verdict in the trial of former Minneapolis Police Officer Derek Chauvin on Tuesday evening. Chauvin was found guilty on two counts of murder and one count of manslaughter in George Floyd’s death in Minneapolis in May 2020.
Newspaper accused of ‘trivialising racism’ in petition set up by East and South-East Asian Network