LIVE highlights: Explosions, gunfire heard as armed men attack Karachi police station

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  • Feb 17, 2023 09:03 PM IST

    Gun attack targets police headquarters in Pakistan’s Karachi

    Gunfire erupted outside of police headquarters in Pakistan’s largest city on Friday, as security forces rushed to stave off what appeared to be a bold attack in the heart of Karachi, AP reported. There was no immediate word of casualties. Read more

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    ‘Will approach SC against EC order’: Uddhav Thackeray as Shinde gets bow-arrow

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    ‘Not the time for dialogue’

  • China Renaissance CEO Bao Fan goes missing


    Hong Kong
    CNN
     — 

    One of China’s top investment bankers has become unreachable, according to his company.

    China Renaissance, an investment bank and private equity firm based in Beijing, said in a Thursday filing to the Hong Kong stock exchange that it “has been unable to contact” Bao Fan, its chairman and CEO.

    Shares of the company plunged as much as 50% in Hong Kong on Friday following the news. The stock closed down 28%.

    “The board is not aware of any information that indicates that Mr. Bao’s unavailability is or might be related to the business and/or operations of the group,” the firm said in the filing.

    Bao is known as a veteran dealmaker in China’s tech industry. He helped broker the 2015 merger between two of the country’s leading food delivery services, Meituan and Dianping. Today, the combined company’s “super app” platform is ubiquitous in China.

    Bao started his investment banking career in the late 1990s at Morgan Stanley and Credit Suisse and later went on to serve as an adviser to the stock exchanges in Shanghai and Shenzhen.

    His team has also invested in US-listed Chinese electric vehicle makers Nio

    (NIO)
    and Li Auto, and helped Chinese internet giants Baidu

    (BIDU)
    and JD.com

    (JD)
    complete their secondary listings in Hong Kong.

    Bao did not immediately respond to messages from CNN on WeChat on Friday, while China Renaissance hasn’t yet responded to a request for comment.

    The financial services firm recently dealt with another similar disruption, according to Caixin, a respected Chinese financial news outlet. Chinese authorities detained Cong Lin, the company’s president, in September, it reported, citing unidentified sources.

    Bao’s disappearance follows those of other high-profile business leaders in China, where it is not uncommon for executives to suddenly drop off the radar with little explanation.

    Justice Division sues Google to break up its promoting empire

    The U.S. Division of Justice and 8 states filed an antitrust lawsuit in opposition to Google (GOOG, GOOGL) on Tuesday, in search of the break up of the firm’s on line advert enterprise.

    This latest action arrives extra than two decades right after the agency and a team of state attorneys basic joined in an additional match alleging Google’s lookup and search promoting organizations violate U.S. antitrust laws.

    The Justice Department’s alleges that Google’s suite of on the net promoting equipment stops opponents from entering the on the web advertising and marketing industry and blocks publishers from monetizing their individual information.

    The division even further statements that Google is illegally employing, or attempting to use, its monopoly electric power, and need to be needed to divest a host of entities that allow for it to carry out the allegedly offending habits.

    Google CEO Sundar Pichai speaks during the Google I/O 2019 keynote session at Shoreline Amphitheatre in Mountain View, California on May 7, 2019. (Photo by Josh Edelson / AFP) (Photo by JOSH EDELSON/AFP via Getty Images)

    Google CEO Sundar Pichai speaks in the course of the Google I/O 2019 keynote session at Shoreline Amphitheatre in Mountain Perspective, California on May well 7, 2019. (Photograph by Josh Edelson / AFP) (Image by JOSH EDELSON/AFP through Getty Photographs)

    “Google’s anticompetitive habits has lifted limitations to entry to artificially superior stages, pressured crucial rivals to abandon the industry for advert tech tools, dissuaded opportunity rivals from becoming a member of the current market, and remaining Google’s few remaining opponents marginalized and unfairly deprived,” the complaint states.

    “Google has thwarted meaningful competitiveness and deterred innovation in the electronic promotion field, taken supra-aggressive income for by itself, and prevented the totally free industry from working pretty to aid the pursuits of the advertisers and publishers who make today’s strong world-wide-web probable.”

    The DOJ is precisely contacting for Google to divest at the very least its Google Ad Supervisor suite, such as both equally Google’s publisher advert server, DFP, and Google’s

    Who is Neal Mohan? The new Indian-American CEO of YouTube

    Neal Mohan is a well-acknowledged figure in the tech market and was the Chief Product or service Officer at YouTube right before getting the CEO on Thursday. He has been instrumental in shaping the platform’s progress and achievement due to the fact joining the company. Ahead of that, he worked at Google as Senior Vice President, Screen and Online video Advertisements, wherever he performed a substantial job in building AdSense and DoubleClick, two of the company’s most profitable goods.

    Mohan attained a bachelor’s diploma in laptop science from Stanford College in 1996 in which he was an Arjay Miller Scholar (leading 10 per cent of pupils in terms of GPA). He afterwards got an MBA from Stanford Graduate University of Business in 2005.

    Mohan’s get the job done journey began with Accenture (then identified as Andersen Consulting) in 1996. He later joined a startup known as NetGravity which was later on acquired by World-wide-web promotion company DoubleClick. DoubleClick was obtained by Google in 2007 for US$3.1 billion.

    He quickly rose as a result of the ranks at Google. Mohan performed a pivotal function in the improvement of AdSense, a system that enables web-site proprietors to show Google adverts and generate profits based mostly on clicks or impressions. AdSense is now just one of the most successful advertising platforms in the planet.

    According to a Business Insider report, Mohan was offered a beneficial situation at Twitter for his solution know-how but Google available him around $100 million in reward about the time to maintain him at the business.

    Tech Layoffs 2023: A Visual Tale

    Mohan moved to the YouTube group in 2015. At the time, YouTube was struggling with rigid opposition from other online video-sharing platforms, and it wanted to discover techniques to bring in extra users and deliver more income.

    Why even tiny business enterprise proprietors are worthy of their have insurance coverage brand name

    Tiny firms evidently need to have a whole lot of support – which is why Westland Insurance Group’s current improvement is so timely.

    Earlier this thirty day period, Westland released a new model for smaller business enterprise clientele. The new Westland Tiny Small business Options brand name will not only focus on supporting compact firms but will also deliver them with insurance systems that are “unique to Westland.”

    In accordance to Westland CEO Jamie Lyons, the segmentation of Westland’s business manufacturers – as was the situation with the creation of Westland Smaller Company Answers – makes it possible for the company to “focus on what would make just about every group of clients distinctive.” What accurately does this imply?

    To solution this problem and a lot more, Insurance policy Business approached Donna Barclay, Westland EVP of professional & specialty.

    Can you explain to us about the new Westland Little Enterprise Alternatives model. How does it aid Canadian smaller companies?

    We are thrilled to carry the total price of Westland to smaller business business owners across Canada.

    Our new Modest Small business Alternatives brand name aids us much better tell our tale and express our value proposition to tiny business enterprise homeowners and business people. We have harnessed our expertise inside groups of tiny business professionals who give the framework for us to supply a regularly extraordinary client practical experience across Canada.

    Our desired modest enterprise insurance coverage partners are significantly specialised, too. The Small Business Solutions brand generates alignment with our associates to make sure the very best end result for our purchasers.

    How did the new brand name arrive about, and why make a focused model for little enterprises?

    Westland enjoys a longstanding and enviable name as a marketplace-primary advisor to modest organization clientele, and we understood we wanted

    Outstanding Chinese investment decision lender says its founder is unreachable

    Shares of the organization that operates a single of China’s leading financial commitment banking companies, China Renaissance, plunged Friday after the company said it experienced dropped touch with its founder, Bao Enthusiast, a person of the country’s most superior-profile bankers and a best tech-sector dealmaker.

    China Renaissance Holdings mentioned in a filing to Hong Kong’s inventory trade Thursday that it experienced been unable to speak to Bao, who has labored on main discounts like e-commerce organization JD.com’s $2-billion US original general public giving and the public listing of shorter video clip system Kuaishou in Hong Kong.

    The business mentioned it was “not aware of any information and facts that indicates Mr. Bao’s unavailability” was connected to the company of the group.

    Bao earlier labored at Credit rating Suisse and Morgan Stanley. He started China Renaissance in 2005 and took it public in 2018, boosting $346 million US.

    His disappearance follows a crackdown on massive technologies companies in the past two several years that officers in China mentioned had been wrapped up.

    Requested throughout a each day news meeting on Friday irrespective of whether the banker had been detained, Chinese International Ministry spokesperson Wang Wenbin mentioned he was not mindful of the situation.

    Shares swoon

    Shares in China Renaissance fell by as substantially as 50 for each cent Friday in Hong Kong. They had been down about 28 for every cent in the afternoon.

    “If a stated corporation voluntarily discloses that a senior manager or a significant shareholder are not able to be contacted, it can be certainly unusual, as the man or woman could possibly have been out of attain for some time,” explained Dickie Wong, govt director of investigation at Kingston Securities. Investors’ worry is that a firm’s capacity to keep on procedure is impaired, so a stock selloff

    Founder who sold his startup to Google says the company has misplaced emphasis

    The Google symbol is shown at Google headquarters on February 02, 2023 in Mountain Watch, California.

    Justin Sullivan | Getty Photographs

    A previous Google personnel claimed the corporation has lost its way, composing in a new site write-up that Google is inefficient, plagued by mismanagement and paralyzed by risk.

    Praveen Seshadri joined the Alphabet-owned firm at the begin of 2020 when Google Cloud obtained AppSheet, which Seshadri co-established. He claimed in the web site publish Monday that although he was welcomed and addressed very well, he still left Google with an comprehension that the “once-excellent organization has little by little ceased to operate.” He left in January, in accordance to his LinkedIn profile.

    Seshadri argued it can be a “fragile second” for Google, specially because of the current pressures it is facing to contend with Microsoft‘s artificial intelligence initiatives. Seshadri reported Google’s problems are not rooted in its technological innovation, but in its society.

    “The way I see it, Google has four core cultural issues,” Seshadri said. “They are all the pure repercussions of getting a money-printing device named ‘Ads’ that has saved rising relentlessly each 12 months, hiding all other sins. (1) no mission, (2) no urgency, (3) delusions of exceptionalism, (4) mismanagement.”

    Google did not immediately reply to a ask for for comment.

    In its place of working to provide clients, Seshadri argued most workforce in the long run serve other Google personnel. He explained the enterprise as a “shut earth” where by operating extra tricky is not essentially rewarded. Seshadri mentioned suggestions is “dependent on what your colleagues and professionals consider of your operate.”

    Seshadri explained Google is hyper-concentrated on risk and that “risk mitigation trumps anything else.” Every single line of code, every single start, nonobvious choices, variations from protocol and disagreements are all

    Skyservice Expands to Vancouver, British Columbia

    Providing Entire Business enterprise Aviation Company at Canada’s Next-Busiest Airport

    TORONTO, Feb. 16, 2023 /PRNewswire/ – Skyservice Organization Aviation (“Skyservice” or “the Enterprise”), a North American leader in organization aviation, is expanding its entire-provider enterprise aviation operations to Vancouver Worldwide Airport (“YVR”), Canada.

    Skyservice Vancouver will provide fastened-dependent functions (FBO), routine maintenance, mend and overhaul (MRO), charter, plane administration, and plane product sales and acquisition solutions. This residence is the eleventh whole-service non-public jet heart for Skyservice. The firm has two supplemental places specifically designated for avionics, plane updates and large maintenance in Muskoka, Ontario, and the recently acquired 80,000 sq.-foot hangar at Montreal-Trudeau Intercontinental Airport.

    “We are thrilled to add Vancouver to our rising community of award-profitable business enterprise aviation jet centers in Canada and the U.S. Pacific Northwest,” commented Benjamin Murray, President and CEO, Skyservice. “More and more, enterprise aviation consumers are searching for providers who deliver whole aircraft support, from aircraft session and management to servicing and whole floor and fuel aid with impeccable mounted-foundation procedure amenities. We are proud to now present this level of service in Vancouver.”   

    The company has agreed to a lengthy-time period lease with Planet Gasoline Services at Canada’s second-busiest airport with designs to modernize the present assets and further make investments in the buildout of the location’s enterprise aviation assistance potential.

    Skyservice is dedicated to delivering superior top quality small business aviation assistance and guidance across North The united states. In February, the business will open in Napa, California and commence function on a new non-public jet hangar in Seattle to exchange its Boeing Discipline site. This previous 12 months, Skyservice also concluded building of a new FBO facility in Redmond, Oregon, and extra hangar capacity in Bend, Oregon, to accommodate the region’s

    Ukraine Gets A further Angel Trader

    “It is apparent that American organization can turn into the locomotive that will after yet again push ahead international financial progress,” Ukrainian President Volodymyr Zelensky mentioned in a late January tackle to the Boca Raton Chamber of Commerce, boasting that BlackRock, JP Morgan, and Goldman Sachs, and other people “have now turn out to be portion of our Ukrainian way.”

    Zelensky did not elaborate on what the “Ukrainian way” is. Perhaps the “Ukrainian way” is a person of rampant corruption—two of the presidents right before Zelensky have either been charged with or convicted of large treason and quite a few governing administration officials have been fired or pressured to resign for poor use of wartime cash. Regardless of what it may well be, JP Morgan needs additional of it. 

    On Monday, news broke that JP Morgan and Zelensky experienced signed a memorandum of understanding stipulating that JP Morgan would support Ukraine in its reconstruction. A launch of the assembly posted on the President of Ukraine’s web page explained, “The parties reviewed the creation of a platform for attracting personal cash to rebuild Ukraine and promising directions of massive financial commitment initiatives in Ukraine, in individual in the sectors of eco-friendly strength, IT, and agricultural systems.”

    JP Morgan executives used a several times in Ukraine final 7 days. They fulfilled with Zelensky and other govt ministers and officials in Ukraine, and frequented a variety of Ukrainian metropolitan areas to assess the hurt sustained by the Ukrainian economic system. Right after producing some initial assessments, JP Morgan executives talked about at a meeting with Zelensky the development of a fund endowed with in between $20 billion to $30 billion of non-public capital to assistance fund Ukraine’s reconstruction, in accordance to Fox Business enterprise. Other thoughts reportedly floated in the conference was

    Reside news updates from February 13: US denies surveilling Chinese airspace, Liberty Global buys Vodafone stake

    Striking ambulance staff stand on a picket line at London’s Waterloo Ambulance Station
    Hanging ambulance staff stand on a picket line at London’s Waterloo Ambulance Station final Friday. The strike affects only non-everyday living-threatening phone calls © Carl Court/Getty Photos

    It is an additional 7 days of British industrial unrest. Civil servants at the Driver and Car or truck Licensing Company will also strike on Monday, followed on Wednesday by college personnel — although no lengthier educating workers in Wales — and then ambulance employees in Northern Ireland on Friday.

    At the the very least the British isles authorities will be tricky at work, with negotiations with the EU more than the article-Brexit settlement for Northern Eire promptly coming to a head. The difficulty is not on the official agenda for the meeting of EU member condition heads in Brussels on Thursday, but London hopes it can make progress in discussions with these European leaders in the coming times.

    Nato defence chiefs will also be conference this week in Brussels to focus on the upcoming steps in the brinkmanship with Russia. Invitees involve Ukraine’s defence minister and his counterparts from Finland and Sweden.

    And the great information? Kosovo will celebrate 15 many years of independence on Friday and in Rio the annual Carnival kicks off on Saturday.

    Economic info

    Inflation and gross domestic merchandise are this week’s major financial themes with knowledge on the former from the United kingdom, US, India and France and the latter from the EU and Japan. The United kingdom also gives updates on its labour market with a new unemployment figure.

    There are no financial plan committee conferences from the massive economies but on Tuesday Japan’s primary minister Fumio Kishida is envisioned to nominate as the up coming central lender governor the highly regarded pro and supporter of the country’s ultra-free financial coverage, Kazuo Ueda.

    That would make