Huawei's joint EV brand with Chery pledges $1.4 billion new investment
It did not give a timeline for the move, which it said aims to strengthen the brand's lead in technology terms, according to a WeChat post.
A new company was also created to integrate production, sales and services.
($1 = 7.1774 Chinese yuan renminbi)
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Independent Singapore
6 hours ago
- Independent Singapore
Maid who endured poor working conditions says no to contract renewal after employer refused pay raise, denied vacation leave, and changed rest days
SINGAPORE: Fed up with her poor working conditions and stagnant pay, a domestic helper shared on social media that she's decided not to renew her contract with her employers. In an anonymous post on the Direct Hire Transfer Singapore Maid/Domestic Helper Facebook group, she explained that throughout her two years of employment, she had to pay for all her personal necessities, including toiletries such as shampoo, shower gel, and toothpaste, using her own money. Adding to her challenges, the helper said she often had to buy her own food, particularly fruits, fish, and vegetables, as the family generally provided only one proper meal per day, which was dinner. Beyond the lack of support for basic needs, the helper said that the extensive level of surveillance in the household made her feel deeply uncomfortable and intruded upon. According to her, the employer had installed '10 CCTV cameras' throughout the home, including one in her bedroom, and placed a tracker on her house key that was connected to their mobile phones. The final breaking point, however, came when her employer recently informed her that if she chose to continue working for them, she would not be given a pay raise, would be denied a one-month vacation leave (which she had requested), and that her off days would be changed. 'My day off, they said they would allow me to have two days off a month, but only on weekdays, not on weekends, which I don't like,' she wrote. 'Like, hello, I will go out alone, so it feels lonely because my friends' day off is only on Sundays. My previous contract gave me one day off a month, and it was on a Sunday, but then it suddenly changed.' 'I hope you find an employer who values and respects you as a person.' Her story drew support from other domestic workers online, many of whom said they could relate to her experience. Some encouraged her to look for an employer who would treat her with more respect and care. 'You're right to prioritise your own needs and well-being. It doesn't sound like your employer was treating you with the respect and care that you deserve,' one wrote. 'You're taking a big step by standing up for yourself and choosing to look for a new opportunity. I hope you find an employer who values and respects you as a person. You deserve it!' 'Good decision, sister..a lot of employers here [are like that] actually,' another commented. 'I hope you feel better after sharing your feelings. Since you already made up your mind not to renew, then no need to dwell too much on it. Let go and move on,' a third added. Are employers obligated to give their helpers a pay raise? Employers are not legally required to increase their helpers' wages. However, the Ministry of Manpower encourages employers to do so as a way to recognise and reward their helpers' good performance and dedication. MOM also recommends offering a 'contract gratuity,' which is a bonus paid at the end of the contract, to motivate helpers to maintain or improve their work. Read also: Maid asks if she was wrong to request S$10k loan in exchange for renewing contract
CNA
6 hours ago
- CNA
US licenses Nvidia to export chips to China, official says
The commerce department has started issuing licenses to Nvidia to export its H20 chips to China, a US official told Reuters on Friday (Aug 8), removing a significant hurdle to the AI bellwether's access to a key market. The US last month reversed an April ban on the sale of the H20 chip to China. The company had tailored the microprocessor specially to the Chinese market to comply with the Biden-era AI chip export controls. The curbs will slice US$8 billion off sales from its July quarter, the chipmaker has warned. Nvidia CEO Jensen Huang met with Trump on Wednesday, two sources familiar with the matter told Reuters. A spokesperson for Nvidia declined comment. A White House spokesman did not immediately respond to a request for comment. The company said in July it was filing applications with the US government to resume sales to China of the H20 graphics processing unit, and had been assured it would get the licenses soon. It is unclear how many licenses may have been issued, which companies Nvidia is allowed to ship the H20s to, and the value of the shipments allowed. Nvidia disclosed in April that it expected a US$5.5 billion charge related to the restrictions. In May, Nvidia said the actual first-quarter charge due to the H20 restrictions was US$1 billion less than expected because it was able to reuse some materials. The Financial Times first reported Friday's developments. Nvidia said last month that its products have no "backdoors" that would allow remote access or control after China raised concerns over potential security risks in the H20 chip. BIG MARKET Exports of Nvidia's other advanced AI chips, barring the H20, to China are still restricted. Successive US administrations have curbed exports of advanced chips to China, looking to stymie Beijing's AI and defense development. While this has impacted US firms' ability to fully address booming demand from China, one of the world's largest semiconductor markets, it still remains an important revenue driver for American chipmakers. Huang has said the company's leadership position could slip without sales to China, where developers were being courted by Huawei Technologies with chips produced in China.
CNA
7 hours ago
- CNA
China says consumer prices stable in July
BEIJING: Consumer prices in China remained stable in July, official data showed on Saturday (Aug 9), providing a respite for the world's second-largest economy, which is facing strong deflationary pressure and fragile domestic demand. The consumer price index (CPI) – a key measure of inflation – was unchanged year-on-year in July, according to data released by China's National Bureau of Statistics. The reading was better than the 0.1 per cent fall forecast in a survey of economists by Bloomberg. Prices nevertheless fell year-on-year in rural areas (down 0.3 per cent) and for consumer goods (down 0.4 per cent). While deflation may be appreciated by consumers, it poses a threat to the broader economy as households tend to postpone purchases in the hope of even lower prices. However, a long-term crisis in the real estate sector and high youth unemployment have been weighing on Chinese consumer sentiment for several years. The situation has worsened with the heightened turmoil sparked by US President Donald Trump's trade war. After four consecutive months of decline, prices nevertheless rebounded in June. "The downward trend of car and phone prices improved, which contributed to the rise of core CPI," Zhiwei Zhang, president and chief economist at Pinpoint Asset Management, said. "Nonetheless it is still unclear if this is the end of deflation in China," he said. "The property sector has not stabilised. The economy is still supported more by external demand than domestic consumption," he noted. In another alarming sign, Chinese factory gate prices saw another fall in July. The producer price index declined 3.6 per cent year-on-year in July, following a similar decline in June. This decline, which has been ongoing for almost three years, means reduced margins for companies engaged in a fierce price war that authorities are trying to curb. This week, China recorded a rebound in its foreign trade in July compared to last year.
