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AdvertisementChina’s private sectorEconomyChina EconomyChina’s growing young billionaire class masks innovation hurdles, analysts sayTechnological innovation – one of Beijing’s top priorities – is helping to drive wealth creation, report says
Reading Time:2 minutesWhy you can trust SCMPMandy Zuoin ShanghaiPublished: 11:00am, 14 Dec 2025While China continues to produce many young self-made billionaires, showcasing its economic dynamism, observers have urged the creation of a more supportive environment, saying that innovation is still being held back.
About 98 per cent of the super-rich in mainland China, with assets valued at US$1 billion or more, are relatively young first-generation entrepreneurs, reflecting the vitality and wealth-creation power of its economy, Swiss bank UBS said in a recent report.
However, Beijing’s tendency to strengthen state ownership and the lack of a loss-proof mechanism – which would shield innovative risk-takers from severe repercussions for failures – hav..

Indian-origin semi driver Kamalpreet Singh, believed to be an illegal immigrant, staying in the US without any valid documentation, was released on bond after he was charged with vehicular homicide. The bond amount was set at $100,000. A major outrage started against Indian-origin drivers behind the wheel in the US, taking lives recklessly and then walking free. 29-year-old Robert B Pearson was killed as his car was crushed between two trucks on SR 167. Troopers said three vehicles were traveling in lane one when two of them stopped for traffic and a third failed to slow in time. A 2020 Freightliner Cascadia semi driven by 25-year-old Kamalpreet Singh of Elk Grove, California, struck the rear of a blue 2010 Mazda 3 sedan that had stopped behind a white 2016 Peterbilt truck. The Freightliner overrode the back of the Mazda and pushed it under the rear of the Peterbilt. Karoline Leavitt Calls Indian Trucker Illegal Alien After Deadly California Road Accident Kill Three The engine of Rober..

The Immigration and Customs Enforcement has been receiving lists of travelers who are coming through airports to cross-check with their list of people who ICE thinks should be deported, making the work easier but in a controversial way. The New York Times reported that since March, the list of air travelers has stopped being confidential and ICE has been receiving such lists several times a week. White House did not deny the co-ordination between the two departments as DHS spokesperson Tricia McLaughlin said: “The message to those in the country illegally is clear: The only reason you should be flying is to self-deport home.” ‘Muslims Sucking Our Resources’: Republican Andy Ogles Tells Trump To Deport All Muslim Immigrants A DHS spokesperson said this is not new. “Back in February, Secretary [Kristi] Noem reversed the horrendous Biden-era policy that allowed aliens in our country illegally to jet around our country and do so without identification,” the spokesperson added. “Under Presi..

Photo credit: AP
WASHINGTON/BANGKOK: US President Donald Trump said on Friday he had spoken by telephone with the leaders of Thailand and Cambodia, who both agreed to end border hostilities and return to a ceasefire he brokered earlier this year.“I had a very good conversation this morning with the PM of Thailand, Anutin Charnvirakul, and the PM of Cambodia, Hun Manet, concerning the very unfortunate reawakening of their longrunning War. They have agreed to CEASE all shooting effective this evening, and go back to the original Peace Accord made with me, and them, with the help of the Great PM of Malaysia, Anwar Ibrahim,” Trump posted on Truth Social. “Both Countries are ready for PEACE and continued Trade with the USA.”Trump’s remarks differed significantly from those of Thai premier Anutin hours earlier, who made no mention of an agreement to end the fighting between the Southeast Asian neighbours, which raged for a fifth day on Friday. Anutin said he had asked Trump to urge Cambodia..

A California jury ordered Johnson & Johnson to pay $40 million to two women who claimed its talc-based baby powder caused their ovarian cancer. The women testified that decades of use led to major surgeries and chemotherapy. Johnson & Johnson plans to appeal, stating the verdict is aberrant and lacks evidence. A California jury on Friday ordered Johnson & Johnson to pay $40 million to two women who said decades of using the company’s talc-based baby powder led to their ovarian cancer.Kent was diagnosed with ovarian cancer in 2014, and Schultz was diagnosed in 2018. Both California residents said they used J&J’s baby powder after bathing for 40 years. Their treatments involved major surgeries and dozens of rounds of chemotherapy, they testified at the trial, Reuters reported.In closing arguments viewed on Courtroom View Network, Andy Birchfield, an attorney for the women, told the jury, “Absolutely they knew, they knew and they were doing everything they could to hide it, to bury the tr..

AdvertisementChina consumptionEconomyChina EconomyChina’s copper heartland vows to build US$28 billion empire, dominate in global marketShandong province plans to create a world-class smelting hub by 2027 to secure supply chains for the strategic metal as prices sizzle
Reading Time:2 minutesWhy you can trust SCMPKandy WongPublished: 11:00am, 13 Dec 2025A key industrial hub in eastern China is launching a push to transform itself into one of the world’s top copper-smelting bases, aiming to forge stronger supply chains for the strategic metal as prices flirt with record highs.
In an implementation plan released on Tuesday, the Shandong provincial government pledged to expand its copper industry, with the next two years seeing rapid advancements. The move comes as geopolitical tensions and the race for technological dominance shore up copper’s role as a critical asset.
“[We strive] to further enhance the resilience and security of the industrial supply chains,” the document stated. The pl..

AdvertisementHong Kong societyHong KongSocietyTowering traditions: Hong Kong’s centuries-old Kam Tin Jiao Festival returnsMassive bamboo structure takes centre stage as indigenous Tang clan hosts five-day festival honouring heritage, faith and family
Reading Time:3 minutesWhy you can trust SCMPJess MaPublished: 10:30am, 13 Dec 2025Once every decade, villagers in Kam Tin build a nearly 30-metre (100-foot) tall bamboo structure – large enough to hold almost half the capacity of the Hong Kong Coliseum – to stage rituals and Cantonese opera performances for an audience of residents, deities and spirits alike.
The colossal structure, adorned with vibrant plaques and a flag, is the largest of its kind in Hong Kong and serves as the centrepiece of the HK$20 million (US$2.6 million) Jiao Festival organised by the indigenous Tang clan of Kam Tin. The five-day, six-night celebration will begin on Saturday evening.
“Throughout the generations, [this festival] reminds us that we must repay our gra..

A gas explosion triggered a major fire in the unincorporated community of Ashland near Hayward on Thursday after an underground line was damaged by a construction crew, fire officials said. At least one home was destroyed, windows were blown out and nearby houses shook.Six people were taken to hospital for treatment, Alameda County Deputy Fire Chief Ryan Nishimoto said. Three were sent immediately with serious injuries and three others had more minor injuries, AP news agency reported.Three structures on two separate lots were severely damaged, Nishimoto said. Some of the 75 firefighters on the scene were forced to back off momentarily after feeling electric shocks from fallen power lines.The video, which came from doorbell camera footage, showed a large building engulfed in flames and debris scattered across the area.“We were sitting in the house and it just … everything shook. Stuff fell off the walls and when we looked at the camera it was like you were watching a war video,” said ..

Candace Owens fires warning at Erika Kirk after new clip on Charlie Kirk conspiracy fight goes viral (Image via Getty) Candace Owens is very upset after a new clip showed Erika Kirk speaking about her in an interview with Bari Weiss of CBS News. The clip talked about the conspiracy stories that spread after Charlie Kirk was fatally shot on September 10 at an event at Utah Valley University. After his death, Candace Owens shared many theories online. She spoke about the Israeli government, TPUSA leaders, and even the US military. But she did not show any proof for these claims. Because of this, many people questioned her posts. So when Erika Kirk spoke about these ideas in her interview, Owens did not like the comments.Candace Owens later said she was “in a bad mood” after watching the clip. She added, “Bari Weiss refers to me as a liar and Erika Kirk does not rebut.” Owens felt Erika Kirk stayed quiet when Weiss talked about the conspiracy theories.What Erika Kirk and Bari Weiss said t..

AdvertisementUnited StatesWorldUnited States & CanadaDirector convicted of scamming millions from Netflix for unfinished sci-fi showCarl Erik Rinsch, best known for ‘47 Ronin’, was convicted of wire fraud, money laundering and other charges
Reading Time:2 minutesWhy you can trust SCMPAssociated PressPublished: 10:44am, 12 Dec 2025A Hollywood director was convicted on Thursday on charges that he scammed Netflix out of US$11 million for a show that never materialised, while he instead used the cash for lavish purchases that included several Rolls-Royces, a Ferrari and about US$1 million in mattresses and luxury bedding.
Carl Erik Rinsch, best known for directing the film 47 Ronin, was convicted of wire fraud, money laundering and other charges, according to court records and a spokesperson for federal prosecutors in New York.
In a statement, Rinsch’s lawyer Benjamin Zeman, said he thought the verdict was wrong and “could set a dangerous precedent for artists who become embroiled in contr..