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Uber was the biggest of a group of Silicon Valley startu

ups that have spent years raising money in private rounds at record prices. Many of these com

panies are now looking to follow with their own IPO. Some, like Uber and Lyft, are unprofitable.

Workplace messaging company Slack Technologies Inc plans to hold an investor presentation on Monday in adv

ance of its direct listing next month. Grocery and food delivery platform Postmates, WeWork owner The We Co

mpany and online mattress retailer Casper Sleep are among startups seeking to launch IPOs this year.

“If a venture capital investor wants to burn cash they can do that as long as they want, bu

t once you get to the public markets you have to show profitability or a path to it,” said Jordan Stuart, a po

rtfolio manager at Federated Kaufmann who often purchases companies’ shares during an IPO.

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said that “all military units deployed in the eigh

The People’s Bank of China (PBOC), the central bank, has upgra

ded the fifth edition of the renminbi (RMB), the Chin

ese currency, and on Monday announced the issuing of the new batch from Aug 30.

The new issuance will include notes with a face value of 50 y

uan ($7), 20 yuan, 10 yuan and one yuan, and coins valued one yuan, 50 fen and 10 fen.

Compared with the current series in circulation, the new batch will see brighte

r colors and adjusted patterns with enhanced anti-conterfeiting feature, a PBOC official said.

The five-yuan note will not be in the upcoming issuance as new technologies on the note are still under testing. The 100-y

uan note was issued in November 2015, which has shown improved anti-conterfeiting capability, said the PBOC source.

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Chris Rowley, a visiting professor from Oxford Unive

rsity’s Kellogg College in England, called opening to more foreign investment a very important development.

“Of course this will expose both inward investors and indigenous organiza

tions to some stark differences in management and doing business between them, which in tu

rn requires more globally effective leaders who are less ethnocentric and more culturally aware,” he said.

Sikhumbuzo Zondi, a research assistant at the Institute for Global

Dialogue associated with the University of South Africa, said another important aspect of Xi’s

opening address was the desire to invest more resources in scientific innovation and technology.

The aim is to develop technologies and business models that will foster new growth an

d development. To do this, China is committed to spearheading the Belt and Road Science, Technology and In

novation Cooperation Action Plan to advance information and communications technology infras

tructure development with the aim of improving internet connectivity and security, Zondi said.

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Zheng Nanning, a researcher at the Chinese Academ

 of Engineering and head of the innovation research academy of intelligent robotics at Xi’an Jiaotong Univer

sity, said the university began considering an undergraduate AI major in 2016, and it has since established an experi

mental undergraduate AI class in 2018 with 55 students taught by the country’s leading AI experts.

The university established the academy in October 2017 and an AI school in Janua

ry. The academy has 26 master’s candidates and eight doctoral candidates, Zheng said.

“Universities should aim for major breakthroughs in basic res

earch and core technology. We are still striving to achieve

revolutionary and disruptive changes in AI theories, methods, tools and systems,” he added.

The ministry issued an action plan in 2018 to promote AI educa

tion in universities. According to the plan, universities in China will improve AI discip

line and make breakthroughs in basic theories and key technology research by 2020.

Chinese universities will become core forces for building major global AI innovation centers by 2030.

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Four-day May Day holiday offers best of both the worlds

Editor’s Note: The May Day holiday this year would be extended to four days. When Premier Li Keqiang was asked at a news con

ference during the recent second session of the 13th National People’s Congress whether China would res

ume the May Day golden week holiday, he said relevant departments were studying the issue and would serio

usly consider the public’s opinions before making a decision. What effects will a four-day holiday have on the people and

the economy? Two experts share their views on the issue with China Daily’s Liu Jianna. Excerpts follow:

Holiday answers people‘s appeals

The four-day holiday will, to a large extent, meet Chinese people’s require

ments for a better life, including the growing desire to enjoy quality longer vacations both at home and abroad.

There have been calls for longer holidays ever since the May Day golden

week holiday was reduced to three days. And the extension of the May Day holiday to four

days this year suggests the government has been taking public opinions into serious consideration.

riuy8.cn

British lawmakers reject all four Brexit options in sec

British lawmakers on Monday voted to turn down all the four proposed Brexit options on the ta

ble, the second time since Friday that none of MPs’ proposed Brexit options wins clear backing in the House of Commons.

MPs voted down all the four Brexit proposals chosen by House Speaker John Bercow in a bid to break

the current Brexit deadlock. The British government has until April 12 to decide how Britain will leave the European Union (EU).

None of the four alternatives to British Prime Minister Theresa May’s Br

exit deal receives support from a majority of MPs in the second round of “indicative vote,” whi

ch kicked off at around 20:00 BST on Monday and whose results were announced at around 22:00 BST.

MPs voted 261 to 282 to reject the proposal that the United Kingdom stays in the single market and negotiates the customs union with the EU.

The customs union proposal means Britain’s close trading relations with the European Union after Brexit.

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Over the years, FAA has increasingly shifted toward wor

king with industry to meet shared safety goals,” he said. “FAA now delegates more of its aircr

aft certification to approved manufacturers through its congressionally authorized Organization Desig

nation Authorization program or ODA. However, my office has identified weaknesses with FAA oversight of ODA.”

Senators questioned the safety of Boeing’s anti-stall system, called the Maneuvering Characteristics Augmentation System.

The system was installed because Max jets have bigger engines mounted closer to the nose of the plane than older Boeing 737s, changing the plane’s aerodynamics.

If the nose rises, threatening a stall, the MACS system automatically points the nose of the plane down to gain speed. The sys

tem can be shut off by flipping a switch on the throttle console between the pilot and co-pilot.

The “angle of attack” sensor built into the Max aircraft measures the amount of lift generat

ed by the wings. The device warns pilots when there is too little lift, potentially stalling the plane

huawaii.cn

hina military threat’ is a fallacy: Ministry of National Defense

The Chinese military strongly opposes playing up the fallacy of the so-called “China’s militar

y threat” by some US military officials, as such a zero-sum game and Cold War mentality is not cond

ucive to the sound development of bilateral military relations, a Chinese spokesman said on Friday.

“China has followed a path of peaceful development and has firmly implemente

d a national defense policy which is defensive in nature,” said Wu Qian, spokesman of the Ministry of Na

tional Defense, adding that a growing Chinese military will better help maintain world peace.

He said the Chinese side has noticed that defense authorities in the United States often do som

e “selfish calculations” for more in the military budget by hyping threats from other countries.

“Such practice is short-sighted, and very dangerous,” he said. “We urge the US side to give up the Col

d War mentality and look at China’s development of national defense and military in a rational way.”

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Kim Song, North Korea’s envoy to the United Nations, sent a

  r Monday to UN Secretary-General Antonio Guterres calling for the UN Security Council to drop the sanctions, North Korean state media reported.

  ”The ‘sanctions resolutions’ of the Security Council aga

inst the DPRK (North Korea’s official name), that prohibit even the shipment of computers and o

ther electronic devices widely used at societies and homes of today, are indeed the action against humanity to dest

roy modern civilization and turn the society back in a (medieval) dark age,” the letter read.

  The issue of sanctions has been a key sticking point in talks between Washington and Pyongyang.

  North Korean Foreign Minister Ri Yong Ho said North Korea asked for removal of five of the 11 sets of sanctions levied

by the United Nations — those that “hamper the economy and the livelihood of our people.”

  But the Trump administration has said that price was too steep for what North Korea was offering.

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He also reused his “Pocahontas” nickname for Warren, claiming

  that he’s destroyed her career such that she won’t be the Democratic

nominee he’ll face in 2020.

  ”I should have saved the Pocahontas thing for another year because I’ve destroyed her politica

l career and now I won’t get a chance to run against her and i would have loved

it,” he said. “I don’t want

to knock out all of the good stuff and end up with somebody that’s actually got talent, that would be bad.”

  Trump also referenced his efforts to eradicate ISIS’ presence in Iraq, telling the CPAC audience that different gene

rals told him on his trip to Iraq that they could defeat the group in one week as opposed to two years.

  ”What I was told by a general who I had to fire, I said, ‘General, how long

before we get 100% of the ca

liphate?’ He said, ‘sir, two years.’ I said, ‘I can’t take it two years.’ And then I flew to Iraq,” Trum

p said. It was unclear to whom Trump was specifically referencing but former

Defense Secretary Gen. James M

attis resigned in December over disagreements with Trump over how to

pull troops out of Syria.

  Trump said that while in Iraq, he asked generals there why it would take

two years to “knock off two or three or four

percent, which is what we had left.” He said that a general he called “Raisin’

Cain” then told him, “‘It won’t, sir, if we atta

ck them in a different manner, we can do it much faster … we can have it totally finished in one week.'”

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