- WorldThe National Interest
The flying wing design has a distinct advantage over other airframe designs when considering drag.
It seems like just yesterday that Reese Witherspoon’s son Deacon was born and yet, here we are, shocked over her latest photo of the now-teen. When did he become a whole man? And could he look any more like dad Ryan Phillippe?! The Little Fires Everywhere star has once again reminded us of the fleeting […]
Federal coronavirus unemployment insurance is scheduled to expire at the end of this month as the pandemic makes a resurgence in parts of the U.S. and 25 million out-of-work Americans are collecting benefits. The Democratic-led House has passed legislation to extend the $600-per-week boost through January, but the Senate Republican majority is vowing not to continue that provision. Senate Majority Leader Mitch McConnell, R-Ky., said Tuesday that the unemployment benefit passed in the CARES Act in March won't be in the next phase of coronavirus relief, which he said he expects to pass by the end of July.
She promised her followers that she's "still learning."
With performers wearing facemasks as well as bikinis, Bangkok's red-light districts reopened on Wednesday after more than three months of shutdown to stop the spread of coronavirus. Bars, karaoke venues and massage parlours were in the latest category of businesses allowed to reopen - with conditions - now that Thailand has gone 37 days since recording any local transmission of the virus. "I lost all my income," said Bee, a 27-year-old dancer who goes by her stage name at the XXX Lounge in the Patpong district.
- WorldThe Telegraph
The mysterious death of hundreds of elephants in Botswana has left experts alarmed that there could be a dangerous neurotoxin spreading through one of Africa’s largest conservationist areas. Around 400 African elephants have died since April in the Okavango Delta, a wetland area in the northwest of the country often referred to as ‘Africa’s Last Eden.’ Powerful poaching syndicates from Zambia and South Africa regularly cross into Botswana to shoot the animals with high-calibre rifles before hacking their tusks off with axes. But these deaths are different. Pictures show dozens of rotting calves and fully grown adult elephants studding grasslands and waterholes. Their tusks, which can be worth tens of thousands of pounds, have been left untouched. “The elephants have no visible wounds. Before they die, we’ve seen them wander around confused, emaciated and in distress. Their legs often don’t work properly or are paralysed,” Dr Niall McCann, Director of conservation for National Park Rescue, a UK-based charity.
Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases for three decades and one of the leading experts on pandemics in the U.S. for the last four decades, dished out some harsh words to both the U.S. public and federal authorities. Fauci said SARS-CoV-2, the official name for the novel coronavirus that causes the disease known as COVID-19, will continue to spread unless everyone ups their game. Fauci focused on three main failings by the public and authorities: many states have reopened too quickly, people are not abiding by rules of social distancing, and the authorities could do a better job at contact tracing where individuals who have been in touch with those who test positive with COVID-19 are contacted and told to stay home.
Kellyanne Conway's Daughter Is an Anti-Trump TikTok Star: 'My Dad Thinks It's Awesome I'm Speaking for Myself'
"My mom is my best friend, but we do fight all the time over politics," Claudia Conway says
- U.S.NBC News
19-year-old Devon Kareem Robinson's "actions were disturbing on so many levels,” Wayne County Prosecutor Kym Worthy said.
- BusinessBusiness Insider
Alaska says continued non-compliance won't result in a red card but a potential ban from future Alaska Airlines flights.
An apartment complex in Fayetteville, North Carolina, said it had begun a legal action to terminate the residency of a woman after she was caught on video shouting racist slurs at a US paratrooper.The soldier, Diamonte Ugbesia, told Storyful he pulled up to the Kings Cross Apartments on June 25 and heard a woman screaming, “I hate black people.” Ugbesia followed her voice and when the woman spotted him, she began verbally abusing him.This video, filmed by Ugbesia, begins with another man telling the woman that she needs to “stop screaming.” The woman turns to Ugbesia and demands that he “get the f*** back down” before telling the other man that he “better kill that motherf***ing n*****.”Ugbesia told local media: “I got deployed to Afghanistan. Me coming home from Afghanistan serving my country to a person saying they hate me based off my skin color? That’s what I was mad about.”The apartment complex’s management said in a statement that it was taking action to evict the woman. Credit: Diamonte Ugbesia via Storyful
- U.S.The Independent
Herman Cain, a Republican politician and 2011 primary candidate for the party's presidential nominee, has been hospitalised after testing positive for Covid-19.Mr Cain, a conservative columnist and former CEO of Godfather's Pizza, is currently being treated in an Atlanta-area hospital.
- U.S.Good Morning America
It’s been a little over a year since Granger Smith and his wife, Amber, lost their 3-year-old son, River, in a tragic drowning accident. In a new interview with People, Granger Smith looks back on his healing journey over the last year, and confronts the grief and guilt he still experiences today. "I know that there’s going to be a time when I’m going to forgive myself, but I’m not there yet," Granger Smith told the outlet.
- CelebrityGood Housekeeping
The Live with Kelly and Ryan co-host's rep confirmed their split this week.
- SportsYahoo Sports
Zion Williamson looks ready to singlehandedly lead the Pelicans to the playoffs.
- U.S.USA TODAY
Hours before Texas Lt. Gov. Dan Patrick’s remarks, state health officials reported a new daily high in coronavirus infections.
- LifestyleBest Products
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- PoliticsNBC News
The Senate GOP leader spoke as some experts believe there's a fair chance his party could lose control of the chamber in November.
(Bloomberg) -- Colin Huang’s ascent is one for the history books: In just six months, his fortune swelled by $25 billion -- one of the biggest gains among the world’s richest people.His Pinduoduo Inc., a Groupon-like shopping app he founded in 2015, has become China’s third-largest e-commerce platform, with a market value of more than $100 billion. In the first quarter, as the coronavirus pandemic caused most of the nation’s economy to grind to a halt, PDD’s active users surged 68% and revenue jumped 44%, the company said in May.Now Huang, who has overseen the firm as its American depositary receipts have more than quadrupled in less than two years, has stepped down as chief executive officer.At one point, his net worth climbed as high as $45 billion, placing him just behind China’s wealthiest people -- Tencent Holdings Ltd.’s Pony Ma and Alibaba Group Holding Ltd.’s Jack Ma -- on the Bloomberg Billionaires Index. That’s even as PDD continued to post losses, primarily because it chases growth with the help of generous subsidies and has been known to spend more on marketing than it earns in sales.“Pinduoduo was perfectly positioned for people being stuck at home,” said Tom Ronk, CEO of Century Pacific Investments in Newport, California.Huang, who controlled 43.3% of PDD shares, has reduced his stake to 29.4%, according to a June 30 regulatory filing. His fortune now stands at $30 billion.That excludes a $2.4 billion charitable holding that he shares with PDD’s founding team, and $7.9 billion that went to Pinduoduo Partnership, of which Huang and newly named CEO Lei Chen are members. The partnership will help fund science research and management incentives, according to a letter following Huang’s resignation. The wealth estimate also excludes $3.9 billion that people familiar with the matter said was transferred to an angel investor.PDD declined to comment on Huang’s holdings or net worth.Facing ChallengesHe will remain chairman and work on the company’s long-term strategy and corporate structure to help drive the future of the e-commerce giant, PDD said.“PDD is still facing some high-level challenges in product supply, relationship with brand merchants, logistics and payments,” said Shawn Yang, an analyst at Blue Lotus Capital Advisors. “Colin may want to focus more on these issues.”PDD’s success hinges on deals, which have become particularly popular with customers looking for bargains as the world’s second-largest economy slows. Most of its users come from smaller Chinese cities, and the app gives them extra discounts when they recommend a product through social networks and get friends to buy the same item.Fen Liu, a homemaker in Chenzhou, a provincial city in south Hunan, said she accrued enough coupons with her friends’ help to reduce the price of a suitcase to zero.“I couldn’t believe my eyes when I saw my suitcase arrive in the mail,” she said. “It’s made me a loyal Pinduoduo user ever since.”‘Bargain Hunters’While PDD’s aggressive price-reduction strategies have helped win over people with lower incomes, they may stifle the company’s efforts to attract wealthier consumers, according to Charlie Chen and Veronica Shen, analysts at China Renaissance Securities in Hong Kong.“PDD’s users are largely bargain hunters reluctant to buy large-ticket items,” they wrote in a June 29 note, adding that the company’s image remains a key obstacle to users spending more. “We believe PDD is working to change its low-price brand image -- but this could be costly.”That may require heavy marketing and hurt margins further despite a strong user-base foundation for future growth, the analysts said. And PDD’s management has offered no clear path to profitability.Last year, the company’s “10 Billion RMB Subsidies” campaign, which is ongoing, led to a $2 billion increase in sales and marketing expenses to $3.9 billion, and those costs have been at 90% to 120% of revenue for the past two quarters, China Renaissance said.For the nation’s June 18 shopping festival, PDD provided a subsidy program with no cap across different product categories to push spending and attract more users. Other fast-growing Chinese startups -- including rival Meituan Dianping, ride-hailing app DiDi Chuxing and Starbucks Corp. competitor Luckin Coffee Inc. -- have also adopted subsidies strategies to maintain customer loyalty.Huang, 40, grew up in the eastern city of Hangzhou, where Alibaba has its headquarters. After receiving a degree at Zhejiang University, he went to the University of Wisconsin for a master’s in computer science. He began his career at Google in 2004 as a software engineer and returned to China in 2006 to help establish its operations in the country.He then became a serial entrepreneur. He started his first company in 2007, an e-commerce website called Ouku.com that he sold three years later after realizing it was too similar to thousands of others. He then launched Leqi, which helped companies market their services on websites like Alibaba’s Taobao or JD.com Inc., and a gaming firm that let users play on Tencent’s messaging app WeChat. Both took off and Huang found himself “financially free,” according to a 2017 interview.After getting an ear infection, he decided to retire in 2013 at age 33. But following a year of pondering what to do with his life -- he contemplated starting a hedge fund and moving to the U.S. -- he came up with the idea of combining e-commerce and social media. At the time, Alibaba dominated the online business, and WeChat became a must-have application on smartphones in China.The tables have turned since. In 2018, Alibaba launched a PDD-style app in an attempt to lure smaller-town users with bargains. It came months before Huang took his company public in New York, raising $1.63 billion in its July 2018 initial public offering. Since then, PDD has surged 350%, while Alibaba has gained just 9.1%.In 2017, Huang had said he was unlikely to spend the rest of his life at PDD. While he’s still chairman of the company, he now wants to give more responsibility to younger colleagues to keep the entrepreneurial spirit as PDD matures, he wrote in a letter to employees.“We envision Pinduoduo to be an organization that creates value for the public rather than being a showoff trophy for a few or carry too much personal color,” Huang said. “This will allow Pinduoduo to continually evolve with or without us one day.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.