Taiwan says Trump ‘might have some misunderstanding’ when he says island took U.S. chip industry
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"And we will clarify that.”
https://fortune.com/asia/2024/09/02/taiwan-trump-misunderstanding-island-took-us-chip-industry/
HP confirms it will pursue Mike Lynch’s bereaving family for $4 billion
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Hewlett Packard moved to end speculation that it would end its case against Lynch over PR concerns.
https://fortune.com/europe/2024/09/02/hewlett-packard-mike-lynch-bereaving-family-4-billion-lawsuit/
Most American workers want a union—and it may be the only way to save the middle class
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Poor is a four-letter word, and a big part of the solution is a five-letter word: union.
https://fortune.com/2024/09/02/most-american-workers-union-middle-class-labor-day/
AI may change your job but it won’t eliminate many, labor experts say
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The technology might turn out to be more like breakthroughs of the past — the steam engine, electricity, the Internet: That is, eliminate some jobs while creating others.
https://fortune.com/2024/09/02/ai-change-job-eliminate-many-labor-experts-say/
Rise of the anti-immigration AfD threatens Germany’s ‘firewall’ against the far-right
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The right-wing anti-immigration party topped the polls for the first time ever in the former East German state of Thuringia with around 33% of the vote.
‘Deadpool & Wolverine’ leads box office again as ‘Reagan’ tops expectations over Labor Day weekend
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The cumulative summer box office clocked in at over $3.6 billion domestically—a dip of 10% from 2023’s $4 billion season that could likely be attributed to the “Barbenheimer” box office craze.
ESPN disappears from DirectTV in contract fight during the U.S. Open for second straight year
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Disney Entertainment channels went dark on DirecTV Sunday night after the sides were unable to reach a new carriage agreement.
https://fortune.com/2024/09/02/espn-directtv-contract-fight-us-open-second-straight-year-disney-abc/
Here’s what’s open (and closed) on Labor Day 2024
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Some big box stores will take the day off.
https://fortune.com/2024/09/02/stores-open-closed-labor-day-2024-grocery-stores-retail/
China promises retaliation if Japan expands its chip export controls, and Toyota worries it’ll get caught in the crossfire
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Toyota privately told officials that Beijing could react to new controls by cutting Japan’s access to critical minerals for car production, sources say.
Temu parent tops Tesla with biggest cash pile of any public company that doesn’t pay investors
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PDD Holdings, the parent company of Chinese e-commerce giants Temu and Pinduoduo, has a cash pile that totals $38 billion, according to the FT.
https://fortune.com/2024/09/01/temu-parent-pdd-cash-holdings-tesla-dividends-share-buybacks-china/
Startup guru Paul Graham eviscerates Silicon Valley’s conventional wisdom about founders
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"VCs who haven't been founders themselves don't know how founders should run companies, and C-level execs, as a class, include some of the most skillful liars in the world."
The pillars of China’s economy are in a free fall that’s getting worse
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"Price indicators in the NBS manufacturing survey suggest deflationary pressures picked up significantly."
https://fortune.com/2024/09/01/chinese-economy-manufacturing-activity-deflation-new-home-sales/
Some hotel workers clean up 17 rooms each shift and are going on strike
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Some 10,000 hotel workers represented by the UNITE HERE union walked off the job Sunday at 25 hotels in eight cities.
https://fortune.com/2024/09/01/hotel-workers-strike-unite-here-union-hilton-marriott-hyatt/
German far right wins state election for the first time since World War II ended
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The far-right Alternative for Germany, or AfD, won 32.8% of the vote in Thuringia — well ahead of the center-right Christian Democratic Union, the main national opposition party, with 23.6%.
Startup guru Paul Graham delivers scathing rebuke of Silicon Valley’s conventional wisdom about founders
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"VCs who haven't been founders themselves don't know how founders should run companies, and C-level execs, as a class, include some of the most skillful liars in the world."
Meghan Markle explains her investing approach as portfolio expands
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"The quality of a brand’s products, the supply chain, ethical standards and practices—these are all things that I consider before making an investment," Meghan said.
Elon Musk and others urging people to have more kids are essentially calling for a Ponzi scheme, experts say
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"It relies on new entrants to produce returns for earlier investors, with the burdens falling most heavily on women, who are responsible for the bulk of childbearing and child-rearing, often without adequate medical care or affordable child care."
California firm grows cocoa from cell cultures as climate change threatens supply
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“We see just the demand of chocolate monstrously outstripping what is going to be available.”
$1.5 trillion of commercial real estate debt is due next year, and refinancing won’t be easy
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Apartment buildings, which make up about 40% of the looming maturities, are at the center of the refinancing wave.
Bill Ackman says Brazil’s ban on X will make the country ‘uninvestable’ like China
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“China committed similar acts leading to capital flight and a collapse in valuations. The same will happen to Brazil unless they quickly retreat from these illegal acts.”
https://fortune.com/2024/09/01/bill-ackman-brazil-ban-x-elon-musk-uninvestable-market-china/