Business

China’s Xi Jinping says regulations need to close ‘loopholes’ as Beijing cracks down on tech

Chinese President Xi Jinping attends the World Economic Forum WEF Virtual Event of the Davos Agenda and delivers a special address via video link in Beijing, capital of China, Jan. 25, 2021.Li Xueren | Xinhua News Agency | Getty ImagesGUANGZHOU, China — Chinese President Xi Jinping called for the acceleration of laws and rules for so-called “platform” companies, …

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The U.S. solar industry posted record growth in 2020 despite Covid-19, new report finds

Peter Cade | Stone | Getty ImagesU.S. solar installations reached a record high during 2020 as favorable economics, supportive policies and strong demand in the second half of the year offset the impacts from the coronavirus pandemic.Installations grew 43% year over year during 2020, reaching a record 19.2 gigawatts of new capacity, according to a …

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Encrypted messaging app Signal appears to be blocked in China

The Signal Messenger app is displayed on a smartphone in Hong Kong, China.Roy Liu | Bloomberg | Getty ImagesGUANGZHOU, China — Encrypted messaging app Signal has stopped working in China and is now only accessible via a virtual private network (VPN).China blocks many foreign apps and services including those from Facebook and Google. But Signal …

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Baidu A.I. chip unit valued at $2 billion after funding and may become standalone business

A woman walks past the Baidu booth at the China International Technology Fair in Shanghai.STR | AFP | Getty ImagesGUANGZHOU, China — Baidu has raised money for its artificial intelligence (AI) semiconductor business at a valuation of $2 billion, a person familiar with the matter told CNBC.It comes as the Chinese search giant looks to …

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2 charts show how much the world depends on Taiwan for semiconductors

A man walks past TSMC’s logo at the company’s headquarters in Hsinchu, Taiwan. TSMC is the world’s largest semiconductor foundry.Sam Yeh | AFP | Getty ImagesTaiwan’s outsized role in chipmaking has come under the spotlight as a global shortage of semiconductors forced several automakers to halt production.Countries including the U.S. and Germany reached out to …

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NYC mayoral candidate Andrew Yang wants MSG, tax exempt landlords to pay for his universal basic income plan

Former Democratic presidential candidate Andrew Yang is making universal basic income a central tenet of his political campaign once again — this time for New York City Mayor.“It makes us stronger, healthier, more secure, mentally healthier, improves our relationships,” Yang said of the concept of guaranteed income. “55% of Americans are now for cash relief, …

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FAA extends zero-tolerance policy for unruly airline passengers as cases top 500

Flight attendants show safety precautions on an American Airlines Boeing 737 MAX airplane before it takes off on a test flight from Dallas-Fort Worth International Airport in Dallas, Texas, on December 2, 2020.Juliette Michel | AFP | Getty ImagesThe Federal Aviation Administration on Monday said it would continue to crack down on unruly passengers, extending …

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As small caps hits another record, Morgan Stanley’s Mike Wilson says it’s time to cash in

Mike Wilson, Chief U.S. Equity Strategist and Chief Investment Officer at Morgan Stanley.Adam Jeffery | CNBC Morgan Stanley‘s Mike Wilson told CNBC on Monday he believes investors should take profits in the Russell 2000 following the small-cap index’s big run higher.The Russell 2000 is already up 19.5% so far in 2021, but its rally goes …

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GE stock rallies after tough week as bullish analysts defend airline leasing deal

Larry Culp, CEO, General ElectricScott Mlyn | CNBCGeneral Electric stock surged more than 5% Monday as bullish analysts defended the company’s decision last week to sell its jet-leasing business to rival AerCap and new financial guidance.On Wednesday, the Boston-based conglomerate announced of the sale of GE Capital Aviation Services, or Gecas, the largest remaining asset of the company’s …

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CDC chief warns of another Covid surge as Americans travel for spring break

Passengers arrive for American Airlines flights at O’Hare International Airport on February 05, 2021 in Chicago, Illinois.Scott Olson | Getty ImagesThe U.S. could still see another coronavirus surge — even as vaccinations against Covid-19 rapidly rise across the nation — as states relax restrictions and more Americans travel for spring break, the head of the …

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