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Bloomberg Daybreak Europe: China’s Cheap AI Edge (Podcast)
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China’s AI Cost Advantage, Harry & Meghan Leaving US, More
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Luxury Sales Plunge in China as Tax Push Hits Wealthy Shoppers
Global luxury brands are facing a deepening sales slump in China, as the country’s campaign to tax offshore wealth sends ripples from stock markets to casino floors and dampens spending by the country’s richest consumers.
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Why is the Supreme Court examining polygamy again? | Explained
The Muslim men’s supposed right to have multiple wives is once again before the Supreme Court. Following a petition challenging the constitutional status of polygamy, the court sought the Centre’s response last week. It also asked the Centre to consider taking suitable legislative steps to abolish the practice for all citizens, irrespective of religion. The petition was filed by five activists, who sought to have polygamy treated as a criminal offence under Section 82 of the Bharatiya Nyaya Sanhita.
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China jails Evergrande founder for life, fines firm more than US$2 billion
A Chinese court ordered all of Hui Ka Yan's personal property confiscated. BEIJING: China on Thursday (Aug 20) sentenced the founder of embattled property giant Evergrande to life in prison and fined the company and an affiliate more than US$2 billion after a high-profile default five years ago. Evergrande Group was the face of Chinese real estate, surfing a decades-long property boom as it peddled home-ownership dreams but its access to credit dramatically narrowed when the government introduced curbs on excessive borrowing and speculation.
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Captured Ukrainian-born soldiers tell BBC why they fought for Russia
In Western Ukraine, behind high walls and layers of locked gates, there is a camp full of men captured fighting for Russia. Many of those crouching in the shade around the edges of the prison yard were recruited from big cities like St Petersburg and Yekaterinburg, not far-flung and poorer regions like at the start of the full-scale invasion. But not all the prisoners are Russian. Amongst them are soldiers from Ukraine itself: the men who went to war with their own country.
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Founder of China's Evergrande sentenced to life in prison
Hui Ka Yan pleaded guilty in April to several charges, including embezzlement of assets and corporate bribery. Shenzhen Intermediate People's Court also fined Evergrande Group 8.82bn yuan (£960m; $1.31bn), while its real estate unit was ordered to pay 7bn yuan, according to state media. Hui's sentencing marks a pivotal moment in the fallout from Evergrande's collapse, which shook China's property sector and left investors and domestic banks reeling.