9:01 AM | Intel enters the peak period of layoffs this week; Several banks have lowered deposit interest rates; iPhone 16 users report excessive power consumption.
TOP3 Big News
Intel enters the peak period of layoffs this week and will complete the layoff of 15,000 people before the end of the year
Intel announced on October 18 that due to business adjustments and self-rescue measures, the company will carry out large-scale layoffs. This week, Intel has laid off more than 2,250 US employees, with the largest number of affected people in Oregon, reaching 1,300, and the remaining laid-off personnel are from Arizona, California, and Texas.
It is reported that according to US federal law, Intel needs to disclose large-scale layoff information to state and local officials. Intel plans to reduce about 15,000 employees before the end of the year to deal with a loss of more than $1 billion in the previous fiscal year. This decision is based on the extensive cost-saving plan announced in August, a company spokesperson said. In addition, Intel has launched the first phase of layoffs since August, mainly for voluntary resigning employees, and some voluntarily retiring employees have received satisfactory salary compensation. (Fast Technology)
Many banks lower deposit interest rates from October 18
Several banks, including Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank of China, have issued announcements that from October 18, the listed interest rates for RMB deposits will be lowered. Among them, the interest rate for demand deposits is lowered by 5 basis points, from 0.15% to 0.1%; the interest rates for three-month, six-month, one-year, two-year, three-year, and five-year fixed deposits are all lowered by 25 basis points. After the adjustment, the one-year fixed deposit interest rate is 1.1%. This is the second time this year that major commercial banks have lowered the RMB deposit interest rate. (CCTV News)
iPhone 16 Users Report Excessive Battery Drain
Tech media MacRumors published a blog post on October 17, reporting that according to posts and comments on the Reddit community and Apple Support Forum, some iPhone 16 and iPhone 16 Pro series users have reported that the iOS 18 system has a problem of excessive battery drain. The blog post also pointed out that although it is mainly iPhone 16 and iPhone 16 Pro series users who have reported the problem, some older iPhone models that have upgraded to the iOS 18 system have also reported the same battery life problem.
Some users have found that in standby mode, the battery consumption is abnormal, and background activities may cause the battery to be depleted rapidly when the phone is not in use. Some users have tried to turn off functions such as ProMotion and Always-On Display to reduce the impact of background activities, but the battery problem still exists. Affected users have tried multiple solutions, including turning off background app refresh, removing widgets, and resetting the phone. However, these methods have not been effective for everyone, and many people still face battery life issues. (ITHome)
Big Companies / Major Events
JD Finance Responds to Run Rumors: Relevant Statements Are Completely Untrue
36Kr learned that on October 18, the official JD Finance responded to the run rumors: There is no so-called "run" on the JD Finance platform as rumored online, and the relevant statements are completely untrue. The funds of users on JD Finance are managed by licensed financial institutions, subject to legal supervision and protection, and all kinds of financial products are operating normally. Publishing inflammatory remarks online and maliciously inciting users to "run" are suspected of violating relevant national laws and regulations, disrupting the financial market order, and affecting the stability of the financial system. JD reserves the right to pursue legal responsibility.
Nearly 270 A-share stocks rose by more than 11%
Chained Finance News, October 18th. The index continues to strengthen. The ChiNext Index has risen by more than 10%, the Shanghai Composite Index has risen by 3.61%, and the Shenzhen Component Index has risen by 5.96%. Nearly 5,200 stocks in the Shanghai, Shenzhen, and Beijing markets have risen, among which more than 500 stocks have risen by more than 9%, and nearly 270 stocks have risen by more than 11%. (Chained Finance News)
The US restricts the import of some DJI drones. DJI responds: This US move is baseless and completely wrong
DJI Innovation, a Chinese drone manufacturer, informed distributors that the US Customs and Border Protection has restricted some drones from entering the US market on the grounds of the so-called "Uyghur Forced Labor Prevention Act" (UFLPA). DJI Innovation responded on the 17th that the US Customs and Border Protection has no reason to detain DJI's drones. DJI is providing documents to the US Customs to prove that it complies with the UFLPA. (Global Times)
Tencent Responds to the Authenticity of the New Feature "Jobs Nearby": Cooperating with Formal Platforms with a Complete Audit Mechanism
On the afternoon of October 17, Tencent's official WeChat account published an article announcing the launch of a new feature, "Jobs Nearby". Tencent mentioned in the article that through a mini-program, one can find job positions available nearby. This move is a new capability provided by Tencent for the "Gig Economy Market". Currently, it is being piloted and promoted in Jiangmen, Guangdong first. Once this feature was launched, many netizens raised questions about how the platform audits the authenticity of the job positions. In response, Tencent stated that taking Jiangmen as an example, the cooperative platform for the "Gig Economy Market" is a platform under the Guangdong Postal Branch, and the jobs uploaded have been audited. In the future, the "Gig Economy Market" will be gradually promoted to other cities, and the cooperative platforms in other cities will also be formal platforms with a complete audit mechanism. (Red Star News)
Problems with New Energy Vehicle Charging Piles Attract Attention
Recently, problems with new energy vehicle charging piles, such as opaque prices, easy recharge but difficult to refund the balance, attracting car owners with ultra-low electricity prices and then charging high parking fees, have attracted attention. The problems include that the APP homepage shows that the charging is 0.86 yuan per kilowatt-hour, but in fact, a service fee of 0.24 yuan per kilowatt-hour is also charged for actual charging; attracting car owners to charge with ultra-low electricity prices and then charging high parking fees and occupancy fees; some charging piles require recharging before charging, but the balance cannot be refunded no matter what. (China Workers' Network)
Bausch & Lomb May Be Acquired
Recently, the well-known ophthalmic giant Bausch & Lomb has been reported to be for sale. Potential buyers include Blackstone and TPG. These two private equity firms are expected to bid between $13 billion and $14 billion (approximately RMB 90 billion to 100 billion) to acquire it from Bausch Health, the parent company of Bausch & Lomb. (ChinaVenture)
Stop Azure OpenAI Personal Services? Microsoft Responds: Enterprise Customers in Mainland China Can Still Continue to Use It
Recently, a piece of news suddenly spread in China: Microsoft Azure OpenAI will stop providing services to individual developers. Many developers have also posted on the Internet saying that they have received an "service stop" email sent by the official. The Azure OpenAI business is the only channel in mainland China that can legally use OpenAI. In response, Microsoft has given a definite reply. Microsoft emphasizes that this matter will only affect non-enterprise users in mainland China, and enterprise users can still continue to use the service. (Everyday Economic News)
China Feihe: Statements such as "Feihe imports raw materials from Japan" are untrue, and legal responsibility will be pursued
36Kr has learned that Heilongjiang Feihe Dairy Co., Ltd. issued a statement through official channels stating that recently, a large number of false statements such as "Feihe imports raw materials from Japan" have appeared on the Internet. These statements not only mislead consumers but also have a seriously adverse impact on Feihe's brand reputation. Feihe has reported the case to the public security organs, and the police have registered the case for investigation.
The Central Bank officially launches the stock repurchase and increase holding reloan, with the initial quota of the reloan being 300 billion yuan
36Kr has learned that on October 18, the People's Bank of China issued an announcement officially launching the stock repurchase and increase holding reloan. From now on, 21 national financial institutions can issue relevant loans to eligible listed companies and major shareholders, and apply for reloans from the People's Bank of China in the first month of the next quarter. For loans that meet the requirements, the People's Bank of China provides reloan support at 100% of the loan principal. The initial quota of the reloan is 300 billion yuan, with an interest rate of 1.75%, a term of 1 year, and it can be extended as the situation permits. The estimated cumulative term can reach 3 years.
JD Promotion Marketing Team: There are no subsequent cooperation plans with relevant stand-up comedians.
36Kr has learned that the JD Promotion Marketing Team issued a statement saying, "Recently, the participation of relevant stand-up comedians in the JD 11.11 marketing campaign has attracted the attention of netizens. If this has brought you a bad experience, we sincerely apologize! Subsequently, we have no cooperation plans with the relevant actors. We will further increase the subsidy for JD 11.11 to repay consumers' concern and support for JD."
IDC: In China, the cumulative shipment of Bluetooth headphones from January to August reached 73.38 million units, with a year-on-year growth of 19.5%.
36Kr learned that the latest report released by International Data Corporation (IDC) shows that from January to August 2024, the cumulative shipment of Bluetooth headphones in the Chinese market reached 73.38 million units, with a year-on-year growth of 19.5%.
Apple Announces Support for Nature Education in China's National Parks
Apple has announced a donation to the China Green Carbon Foundation to establish nature conservation training and education opportunities in five national parks in China. In the coming months, the China Green Carbon Foundation will convene to form a National Park Innovation Alliance working group, consisting of outstanding universities, research institutions, and non-governmental organizations in China. The working group will consult with experts in the global ecological conservation and restoration field to design and implement new education projects, and Apple will provide support to this project. (Jiemian News)
Amazon Executive Warns Employees: Leave if You Don't Return to the Office
On Thursday local time, an Amazon executive defended the company's new policy that requires employees to work in the office five days a week, saying that those who do not support this policy can jump to another company. According to a transcript, Matt Garman, CEO of Amazon's AWS division, said at an all-hands meeting that 90 percent of the employees he has spoken with support the new policy, which will take effect in January next year. He said that those who are unwilling to comply can choose to leave. (Sina Finance)
Relevant national ministries and commissions are expected to establish a specialized bureau for the low-altitude economy
According to different sources, relevant national ministries and commissions plan to establish a specialized bureau for the low-altitude economy. An informed person said that the establishment of the specialized bureau for the low-altitude economy has been approved and is currently in the process of preparation. The above-mentioned person said that the establishment of a specialized management unit is of greater significance in adapting to the development needs of the new-quality productive forces, and can better coordinate the resources of various links to promote industrial development. (Caixin)
WWE Plans to Produce a New Behind-the-Scenes Documentary Series for Netflix
36Kr learned that, it is reported that WWE plans to produce a new behind-the-scenes documentary series for Netflix. WWE President Nick Khan said that this is part of WWE's expanded partnership with Netflix. (Bloomberg)
OpenAI Launches ChatGPT Client for Windows
OpenAI has launched a desktop client of the ChatGPT application for the Windows platform. It is currently in the testing phase and is only available to paying users. The early version of this client can be downloaded from the Microsoft Store. Just like the Mac version of this application, the Windows version of ChatGPT also allows users to ask questions to the AI-driven chatbot in a separate window, and other applications can be opened simultaneously in the window. The application can also be accessed quickly by using the Alt + Space shortcut key. (The Paper)
Dalian Wanda Commercial Management Changes Leadership, Zhang Chunyuan Succeeds as Chairman of Dalian Wanda Commercial Management
36Kr has learned that the Aiqicha App shows that recently, Dalian Wanda Commercial Management Group Co., Ltd. has undergone industrial and commercial changes. Xiao Guangrui has stepped down as the legal representative and chairman, and Zhang Chunyuan has taken over. At the same time, many senior executives have also changed. Dalian Wanda Commercial Management Group Co., Ltd. was established in September 2002, with a registered capital of approximately 27.16 billion Chinese yuan. It is jointly held by Dalian Wanda Group Co., Ltd., Wang Jianlin, SUN HONGBING, etc.
Former Goldman Sachs Asia Managing Director Pan Sheng Joins Nezha Auto as Vice President
Former Goldman Sachs (Asia) Managing Director Pan Deng has officially taken up his new position, appearing in the executive information of Nezha Auto as Vice President, and representing the company at the analyst conference. (Jiemian News)
Google executive Prabhakar Raghavan in charge of search engine and advertising products will step down
Google announced on October 17 local time that Prabhakar Raghavan, the senior executive in charge of search engine and advertising products, will step down after leading the company's core profitable business for four years and take on a new position as Chief Technology Officer. Nick Fox, a long-time Google senior executive who has worked in the search department, will succeed Raghavan. (Jiemian News)
Samsung May Delay Receiving Chip Equipment from ASML for Its New US Factory
It is reported that informed sources have disclosed that Samsung Electronics has postponed the receipt of ASML's chip manufacturing equipment for its upcoming factory to be completed in Texas, USA, as the company has not yet won any major customers for the project. The informed sources said that Samsung has also temporarily suspended placing orders with some other suppliers for this $17 billion factory in Taylor. (Jiemian News)
European automotive giants are launching low-cost electric vehicles to compete for market share
At this week's Paris Motor Show, several of Europe's largest car manufacturers have launched low-cost electric vehicles in an attempt to reverse the decline in demand and compete for the electric vehicle market share currently occupied by Chinese brands. It is believed that the biennial automotive industry showcase, which opened in Paris on Monday and runs until Sunday, could be a turning point for the European automotive industry. Julia Poliscanova, senior director of vehicles and e-mobility supply chains at Transport & Environment, told the media at the Paris Motor Show: "It feels like Europe is fighting back." (Sina Finance)
Nestlé: Uncertainty among Shoppers before the US Election Increases
On October 17, Nestlé said on Thursday that consumers' "concerns" about the US election have put further pressure on demand in its largest market, as it has caused uncertainty among consumers. Nestlé's Chief Financial Officer said: "We are seeing a slowdown in growth in the US market, and some concerns surrounding the election are emerging." (Jiemian News)
Colombia May Lose Its Position as the Third Largest Oil Producer in Latin America and Be Overtaken by Guyana
36Kr has learned that, according to the Economic and Commercial Office of the Embassy of China in Colombia, according to the latest report released by the International Energy Agency (IEA), Colombia's daily oil production in September 2024 was 790,000 barrels, lower than Argentina's 840,000 barrels and Brazil's 3.52 million barrels; Guyana's daily oil production showed a significant increase that month, reaching 620,000 barrels; It is expected that Guyana's oil production will be on par with that of Colombia within two years, while Colombia's daily oil production will slightly decrease from 790,000 barrels to 770,000 barrels. The report points out that in the future, Colombia will be replaced as the third largest oil producer in Latin America, and Guyana is gradually becoming an important participant in the Latin American oil market.
Big Company Financial Reports
Volvo: Net sales in the third quarter amounted to 117 billion Swedish kronor, lower than the estimate
Volvo's net sales in the third quarter amounted to 117 billion Swedish kronor, with an estimate of 121.07 billion Swedish kronor; the operating profit in the third quarter was 14.07 billion Swedish kronor, with an estimate of 15.06 billion Swedish kronor. (Cailian Press)
Netflix's Revenue in Q3 Increased by 15% Year-on-Year, with 5.07 Million Net New Paying Members
On October 17 local time, the American streaming platform Netflix released its financial report for the third quarter of 2024: The revenue was 9.825 billion US dollars, with a year-on-year growth of 15%; the operating profit was 2.909 billion US dollars, with a year-on-year growth of 52%; the operating profit margin was 29.6%, compared with 22.4% in the same period of the previous year; the net profit was 2.364 billion US dollars, compared with 938 million US dollars in the same period of the previous year; the earnings per share was 5.40 US dollars, with a year-on-year growth of 45%. In addition, the number of paying members increased by 5.07 million in the third quarter, and the number of streaming media paying members at the end of the period was 282.72 million. The company expects its full-year 2024 revenue to increase by 14.7% (the upper end of the range from 14% to 15%) and the operating profit margin to be 27%. (Jiemian News)
The Forefront of AI
Amazon AWS: System with Nvidia's New AI Chip Delayed to Early 2025 for Launch
The AWS, a subsidiary of Amazon, the world's largest cloud computing provider, stated that the new system with Nvidia's Blackwell chip might not be available until the beginning of next year, which is later than the originally expected time. When Nvidia launched its new generation of processors in March this year, it said that partners like Amazon would be ready with Blackwell-based products by the end of 2024. However, due to Nvidia's redesign of the chip, Amazon is still waiting to incorporate a large number of chips into its data centers. AWS CEO Matt Garman said on Thursday that Nvidia's schedule has "changed". (Zhitong Finance APP)
Meta Collaborates with Hollywood's Blumhouse to Develop AI Movie Generation Model
On Thursday local time, US tech giant Meta announced that it has reached a collaboration with Hollywood company Blumhouse Productions, which has produced popular horror films such as "The Purge" and "Get Out", to jointly develop its artificial intelligence (AI) video model Movie Gen. Earlier this month, Meta released the new AI model Movie Gen, which can create realistic video and audio clips based on user prompts, and claims that it can be comparable to text-to-video models of startups such as OpenAI and ElevenLabs. (Caixin)
Google integrates the Gemini application team into the DeepMind Laboratory to advance the integration of AI teams
Google announced on October 17 local time that it will integrate the Gemini application team into the DeepMind research laboratory to continue integrating the various teams of the company engaged in artificial intelligence research, aiming to streamline the structure in order to "continuously accelerate the pace of AI development". (Jiemian News)
Japanese enterprises are developing a new type of AI customer service system
Today Japan reported that NTT Communications and SoftBank are developing an AI system that can help customer service deal with difficult customers. NTT Communications invited some media and demonstrated the new AI customer service system to them. After real-time monitoring of the communication between customers and customer service, it displays the appropriate response language on the customer service's screen. (IT Home)
Investment and Financing
"Lixin Pharmaceuticals" Completes C1 Round Financing of 300 Million Yuan
36Kr has learned that Lixin Pharmaceuticals has recently successfully completed a C1 round financing of 300 million yuan. This round of financing is led by the well-known domestic industrial party, China Biopharmaceuticals, with Pudong Venture Capital and Zhangjiang Haoheng jointly participating. The old shareholders, Qiming Venture Capital and Shanghai Biomedical Fund, followed the investment. Zhong Lun served as the legal advisor for this round of financing. The raised funds will mainly be used to accelerate the clinical progress of the company's clinical-stage pipelines, especially LM-302 and LM-108, and to support the company's independently developed antibody discovery platform, the next-generation ADC technology platform, and the bispecific antibody technology platform, to continuously produce innovative pipelines with international competitiveness.
Chongqing Lifei General Aviation Co., Ltd. Obtains Angel Round Financing in RMB
36Kr has learned that Chongqing Lifei General Aviation Co., Ltd. announced that it has obtained an angel round financing of millions of RMB. This round of financing is jointly led by Qianhao Capital and Shuomai Culture. This round of funds will further accelerate the establishment of the eVTOL operation center by Lifei General Aviation and accelerate the commercialization of the air traffic operation scenarios. It is reported that Lifei General Aviation was founded in 2024 by the former senior team of Chongqing General Aviation Group. The company has obtained the Civil Unmanned Aircraft Operating Certificate of Part 92 (CCAR-92) of the Civil Aviation Administration of China.
Cool Products
AION RT Will Be Officially Launched in November
36Kr learned that on October 17, at the 2024 World Intelligent Connected Vehicles Conference, Zeng Qinghong, the chairman of GAC Group, made an important speech. He said that the AION RT Velociraptor has further popularized the laser radar urban NDA to the threshold of 150,000 yuan, breaking the traditional perception that "high-level intelligent driving = high price". The vehicle will be officially launched and delivered in November.
Organized by | Zhang Yuzhu