The shooting death of Alton Sterling, 37, in Baton Rouge, Louisiana — the latest in a series of fatal police shootings to be caught on video — has caused outrage in the US. Alton Sterling was shot dead by police outside a convenience store in Baton Rouge.Source:News Corp Australia The video shows another angle and was recorded closer to the shooting by one of two white Baton Rouge police officers who were answering an emergency call about a man with a gun. It is the second of two bystander videos that show the encounter. One of the two police officers involved in the fatal shooting of Sterling was suspended two years ago after another black man was shot by police, reports the Daily Mail. Howie Lake was placed on administrative leave in December 2014 after a suspect was shot multiple times as he tried to escape from the police. The second video was recorded closer to the fatal shooting.Source:News Corp Australia Lake, 29, was among a group of six Baton Rouge cops placed … [Read more...] about Alton Sterling: second video shows black man shot by police outside convenience store
Robbery at convenience store
What's the real reason for stunting the development of fintech in Hong Kong has been a matter of debate among economic planners, economists, politicians and business leaders. Citing the wide use of Alipay and other online payment systems on the Chinese mainland, critics charged that Hong Kong is falling woefully behind its neighboring competitors in the technology race despite gaining a head start decades ago. But, there are those who believe that much of the popular technological tools in other economies just aren't all that relevant in the Hong Kong context. The issue matters to the millions of Hong Kong consumers. If you're one of them who wonder if you have been inconvenienced by the lack of technological advancement since the introduction of Octopus cards in 1994, listen to Chan Ka-keung. A former secretary for financial services and the treasury for five years, stepping down as recently as October last year, Chan is better qualified than most other people in talking about the … [Read more...] about The big fintech race — does it really matter for HK?
In mega cities such as Beijing, Shanghai, and Chongqing restaurants are taking orders using facial recognition, QR codes are replacing human interaction at checkout counters. Robots are sorting out parcels at warehouses and sorting centers of many express delivery companies all over China. These are just some of the innovative ways in which digital economy and technological innovation are becoming new drivers of China's growth engine. Ever since my first visit to China in 2006 to my most recent visit in October 2019, I've seen China's impressive strides into digital economy just the way it did with critical infrastructure development connecting rails, roads, ports and airports. China's digital economy in 2018 reached 31.3 trillion yuan ($4.64 trillion), according to a report released by Cyberspace Administration of China. To put it into perspective, digital economy of China is 70 percent larger than India's entire economy in terms of nominal GDP, which is $2.7 trillion according to … [Read more...] about China’s digital economy, arrival of 5G and boosting rural development
Alipay, WeChat Pay among competitors in market dominated by Octopus, credit cards For years, China's twin pillars of digital payment－billionaire Jack Ma Yun's Alipay and Tencent's WeChat Pay－have been branching out worldwide to chase the more than 130 million big-spending mainland holidaymakers who have become a common sight across the globe, including Hong Kong. As the two payment giants raise the stake in their battle for bigger overseas market shares, Hong Kong has naturally become the "first stop" to localize their payment apps, which secure a combined 94 percent overseas mobile payment market share of the world's second-largest economy. Having been granted the so-called stored-value facilities (SVF) licenses from the Hong Kong Monetary Authority (HKMA) with another 14 digital payment operators in 2016, Alipay and WeChat Pay rushed to roll out their maiden versions of the payment-by-smartphone app in a local currency in Hong Kong. Next, the pair of deep-pocketed … [Read more...] about The digital payment battle in HK
Video PlayerClose NEW YORK, May 17 (Xinhua) -- Shares of Chinese coffee startup Luckin Coffee surged about 20 percent in its U.S. stock market debut on Friday. Listed on the Nasdaq Global Select Market, the Chinese coffee retailer commenced trading at 25 U.S. dollars per share after its initial public offering (IPO) was priced at 17 dollars apiece. During the initial trading sessions, Luckin shares once surged over 47 percent at their high. Later, the whirlwind upswings gradually narrowed down to over 20 percent until the closing bell. Before the listing, the company upsized the IPO deal by increasing its American Depositary Shares, which brought it 561 million dollars before fees. Together with concurrent private placement to Louis Dreyfus Company B.V., Luckin has raised approximately 571 million dollars in aggregate after fees to fuel its growth. Reinout Schakel, chief financial officer (CFO) of the company, said that they decided to enlarge the IPO deal based on broad support … [Read more...] about Spotlight: China’s Luckin Coffee surges in Nasdaq debut