CHINA’S EVERGRANDE FILES FOR BANKRUPTCY PROTECTION IN U.S.
The struggling Chinese property developer Evergrande Group filed for bankruptcy protection on Thursday with a New York court.
The real estate giant was first declared in default in 2021, after Beijing tightened the rules on the property sector. In July, Evergrande reported a net loss of almost 15 billion dollars for 2022. Combined with the previous year, its net loss amounts to more than 80 billion dollars.
If its filing is approved by the court, the company’s assets will be protected in the United States. Evergrande is the world’s most indebted property developer, but is expected to seek ways to rebuild its businesses.
Evergrande issued a statement explaining that the application was what it called a “normal procedure” for offshore debt restructuring.
Many real estate-related companies in China face mounting woes amid the sector’s prolonged downturn.
JAPAN TELECOMS TURN TO LAND-BASED AQUACULTURE
Japanese telecommunications firms are bringing their technology prowess to land-based aquaculture.
NTT has launched a joint venture with a startup from Kyoto University to engage in land-based farming. NTT Green & Food says it will use breed improvement technology for fish to speed up their growth rate and increase their edible portions.
It also says it will use genome editing technology to engineer algae, the basis of fish and shellfish feed. The process will allow the algae to store more carbon dioxide.
Telecom giant SoftBank has launched a research project to farm sturgeon, along with partners including Hokkaido University. The project aims to develop technology to stably produce high-quality caviar. It’ll use artificial intelligence to analyze data.
ニュースで学ぶ現代英語 23/9/6(水)ＮＹタイムズ ＡＩによる学習を原則禁止に
NEW YORK TIMES BANS USE OF CONTENT FOR AI TRAINING
The New York Times has banned the use of its articles and photos to train artificial intelligence systems. This comes as AI developers are collecting vast amounts of data to improve their models. Critics say some of this information is copyrighted and being used without permission.
The Times has updated its terms of service to prohibit the use of its content “for the development of any software program, including a machine learning or artificial intelligence system.” It says violations could result in civil or criminal penalties.
The paper told NHK its terms of service have always banned the use of content for AI training and development. It said it made the change “simply to make that prohibition even more clear.”
ニュースで学ぶ現代英語 23/9/7(木)アルツハイマー病の新薬 承認へ
JAPAN HEALTH MINISTRY PANEL APPROVES NEW ALZHEIMER’S DRUG
A panel of experts convened by Japan’s health ministry has approved a new Alzheimer’s drug. It’s the first time a drug that removes a substance causing the disease has been approved in the country.
The drug, lecanemab, was jointly developed by Japanese firm Eisai and its U.S. partner Biogen. The panel determined on Monday the drug has efficacy in treating Alzheimer’s and no serious safety concerns.
The drug is the first-ever treatment designed to slow the progression of the disease by reducing the accumulation of amyloid beta protein in the brain. Eisai says a global clinical study found, compared with a placebo group, lecanemab reduced cognitive and functional decline by 27 percent after 18 months.
Alzheimer’s is one of the most common causes of dementia, accounting for more than 60 percent of all cases diagnosed in elderly people here in Japan.
FROZEN FOOD SUBSCRIPTION SERVICES GROW IN JAPAN
After a long day at work, making dinner is probably the last thing you want to do. In that case, a subscription food service might be for you. More and more companies in Japan are launching services that deliver frozen gourmet meals to your door.
Major department store operator Daimaru Matsuzakaya started a monthly service that delivers frozen delicacies to customers in late July. Each package includes six to 10 dishes selected from the menus of 25 popular restaurants from around Japan.
And a company based in Gunma Prefecture, near Tokyo, offers a subscription service for frozen bread. The firm gets its bread from around 100 bakers around Japan and freezes it using its own technology. It says business is booming, with subscribers doubling in the one-year period through February.