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China Tech Veterans to Launch ‘Domestic Replacement’ Fund Amid US Sanctions

Chinese tech veterans, including former executives at Huawei and SMIC, are planning to launch a "domestic replacement" fund by the end of the year to help create China's next tech giant and support Chinese companies sanctioned by Washington.Venture capital firm China Europe Capital aims to raise CNY 5 billion (roughly Rs. 5,399 crores) for the fund which will invest in start-ups specialising in technologies including semiconductor, 5G and artificial intelligence, said Zhang Jun, the firm's chairman and a former vice…

‘The Avengers’ falls to Tom Cruise as ‘Top Gun: Maverick’ hits #9 on all-time domestic chart

Move over Ant Man, the world has a new tiny superhero and he has managed to defeat The Avengers almost single-handedly. The Tom Cruise-led, decades-late sequel Top Gun: Maverick has been strafe-bombing the box office all summer, earning a reported $623.3 million in North American rentals. That’s a number that also narrowly edges out the Earth’s Mightiest Heroes as the number 9 box office hit of all time. The original Top Gun was a big hit in 1986, bringing in a B.O. of $357 million (just shy of a billion in 2022…

The US DOE funds more EV charging with $96M to decarbonize domestic transport

The US Department of Energy (DOE) today announced $96 million to fund the decarbonization of domestic transport with a focus on expanding EV charging.  The DOE’s announcement states: The funding will focus on expanding electric vehicle (EV) charging accessibility, create cleaner non-road vehicles through electrification and the use of alternative fuels, and develop electric drive components and materials to maximize EV efficiency and affordability. Non-road vehicles, including agricultural and construction…

Canada’s Rogers Communications Restores Wireless, Internet Service

OTTAWA—Canada’s Rogers Communications Inc. said it had restored internet and wireless services and that its networks and systems are close to fully operational, following a roughly daylong outage starting early Friday morning that hit over 10 million customers and hampered electronic-banking and debit-card transactions across the country. The company said the outage was the result of an equipment-maintenance update that went awry. Rogers said…

Samsung to build a domestic supply chain for semiconductor expendables

Last updated: July 11th, 2022 at 19:15 UTC+02:00 Samsung is reportedly trying to lower its dependency on outside suppliers and has partnered with domestic companies to develop expendable semiconductor components. The company is gearing up for an increase in memory demand this year. Samsung is developing expendable components that are required for semiconductor manufacturing. The list includes electrodes and focus rings required for cutting memory wafers, and so-called “outers,” which are components designed to secure…

Love and Thunder’ has $143 million domestic opening

Natalie Portman and Chris Hemsworth star in Marvel's "Thor: Love and Thunder."DisneyWith "Thor: Love and Thunder" zapping up an estimated $143 million during its domestic weekend, box office analysts feel confident that movie theaters are no longer on the road to recovery and have reached a pace of normalcy seen in pre-pandemic times.Over the weekend, the newest entrant in Disney's Marvel Cinematic Universe tallied $159 million internationally, bringing its global haul to $302 million."Marvel fans turned out in force yet…

This update to China COVID monitoring app likely to increase domestic tourism

China's national authorities are reducing scrutiny of citizens' travel history for COVID-19 monitoring, requiring that a mandatory mobile app show the previous seven days of travel, down from 14, an adjustment likely to boost domestic tourism. The app, whose name translates to itinerary card, helped authorities to identify whether people visited areas with COVID infections, and to decide whether they should be tested for the virus or possibly placed in quarantine. One of the developers of the app said it would only…

China Car Sales Jump as Covid Curbs Relaxed

HONG KONG—China’s car sales rose almost 23% in June from a year earlier as production recovered in lockdown-hit Shanghai to meet pent-up demand and government cash incentives stimulated purchases in the world’s biggest auto market. Sales for passenger cars also rose sharply to 1.94 million in June from 1.35 million vehicles in May, the China Passenger Car Association said Friday, a sign of buyers making up for lost time after falls in recent months caused by pessimism over the economy…

Twitter Defends Spam Accounting Amid Elon Musk Takeover

Twitter Inc. TWTR 1.44% officials on Thursday doubled down on defending the accuracy of their calculation of spam on the platform, addressing an issue that has become a potential stumbling block in Elon Musk’s $44 billion deal to buy the company. The officials, who asked not to be named, reiterated on a call with reporters Thursday that spam accounts make up less than 5% of the company’s daily monetizable…