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Asia International

Chinese President Xi Jinping Finally Congratulates Biden On U.S. Election Win

Chinese President Xi Jinping congratulated President-elect Joe Biden for winning the U.S. election Wednesday, according to state media outlet Xinhua, after weeks of holding off as one of the only major world leaders not to acknowledge the Democrat’s victory. 

While China’s foreign ministry offered brief congratulations to Biden on November 13, Xi has demurred, as President Donald Trump has engaged in an ultimately fruitless legal campaign to overturn the results of the election. 

In the message to Biden, Xi said that “promoting the healthy and stable development of China-US relations” is in the interests of both parties and the expectation of the international community. 

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International

Hyundai’s Big Data Ambitions Depend On A Little-Known Credit Card Company

South Korea’s second-biggest conglomerate by revenue has big plans in the hot field of big data—and a little-known credit card subsidiary looks set to play a crucial role.

Hyundai Motor has ambitious plans to invest more than $50 billion over the next five years to become a “Smart Mobility Solution Provider.” It’s a broad plan that includes crunching data—”the new oil” in the digital age—to provide personalized services and content related to shopping and streaming.

In line with the plan, Hyundai Card, the Korean car giant’s credit card unit, has been quietly winning the war for data science talent for years and is already capable of analyzing the consumer spending patterns of its more than 9 million card holders. Hyundai Card’s data science expertise makes the company, which is preparing for a blockbuster IPO, more important than ever for the auto-to-steel conglomerate.

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International

Huawei Sells Honor Unit ‘To Ensure Its Own Survival,’ But Loses Smartphone Synergy

Huawei, the Chinese telecom giant once ranked as the world’s largest smartphone maker and increasingly squeezed by Washington, announced Tuesday that it would sell its budget handset brand Honor to a government-backed consortium in a bid for the unit’s survival.

Huawei has been struggling to overcome restrictions on crucial chip technologies by the U.S., which calls the company a national security threat.

By breaking off, Honor can get smartphone supplies without Washington’s blockade, but will lose access to Huawei’s resources and may even face new U.S. restrictions in the longer term, analysts warn.

“This move has been made by Honor’s industry chain to ensure its own survival,” Huawei said in a statement. “Huawei’s consumer business has been under tremendous pressure as of late.

This has been due to a persistent unavailability of technical elements needed for our mobile phone business.”

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International North America South America World

Joe Biden Wins Presidency After Recapturing Rust Belt States

TOPLINE

Former Vice President Joseph R. Biden Jr. is projected to be the next president of the United States based on election analysis by the Associated Press, defeating incumbent President Donald Trump in what proved to be one of the most brutal campaigns in modern history, throughout which Biden vowed to heal the nation’s deep divisions and respond forcefully and responsibly to Covid-19 pandemic.

KEY FACTS

 The Associated Press called the crucial battleground state of Pennsylvania for Biden on Saturday after late-counted absentee ballots gave him a come-from-behind victory, also calling Nevada for him shortly after.

 Biden’s path to 270 electoral votes was paved through Pennsylvania, Wisconsin and Michigan, which Trump won after decades of Democratic dominance, leaving some Democrats to question whether their path to the presidency in future elections would still run through the Midwest.

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Breaking International North America Politics South America World

Half Of Trump’s Twitter And Facebook Posts Since Election Day Flagged

TOPLINE: Facebook and Twitter have labeled half of President Donald Trump’s posts since Election Day because he repeatedly and falsely declared victory and cast doubt on legal votes counted after Election Day.

KEY FACTS: Of Trump’s 22 posts on Facebook and Twitter, not including retweets or videos, 11 have been labeled by the social media giants. 

The flagged posts include erroneous claims to victory before races have been officially called and false assertions that the election is fraudulent.

Twitter has hidden posts from view and warned “some or all of the content shared in this Tweet is disputed and might be misleading about an election or other civic process,” and restricted the ability to like or retweet.

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International North America Politics South America World

Electoral College 2020: Trump Takes Florida, Biden Wins Minnesota, Most Swing States Too Close To Call

TOPLINE

We’ll be updating this story all night with state results for one of the most chaotic elections in modern American history – check back for the latest.

Electoral vote count: Biden 223, Trump 145

Trump took the first major battleground as the AP called Florida for him at 12:35 a.m. – the Sunshine State was a must-win state for Trump, but Biden’s campaign took pains on Tuesday to stress the Democratic candidate has several paths to victory without it.

Biden was projected to win Minnesota at 12:13 a.m. – a target state for Trump, who lost there by just 1.5 points in 2016 – while Trump was forecast to take Montana and Iowa, reach states for Biden but ones that were possible for him to win on a good night.

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International North America Politics South America World

Rubio Floats Conspiracy Theory: Networks Won’t Call Florida To Suppress Trump Vote

TOPLINE

Sen. Marco Rubio (R-Fla.) floated a baseless conspiracy theory Tuesday night that media networks deliberately are holding back from calling the race in Florida for President Trump because they want to suppress the vote in other swing states—a wild claim that was quickly picked up by the Trump campaign.

By 11 p.m. EDT, major television networks had yet to call Florida for President Trump, prompting some members of the Trump campaign to cry foul even as the results remained close, and anchors reminded viewers it was difficult to project states with speed due to the large influx of mail ballots. 

“It’s over,” Rubio argued on Twitter, “So why won’t they call the race?”

The Florida senator went on to claim the networks had held back from calling Florida “to deny Trump an early swing state” before polls closed in Arizona and Nevada—suggesting the media networks had refrained from making the call deliberately to suppress the Trump vote.

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International

For China’s landlords, rent-to-riches dreams fade in red flag for fragile economy

Not yet 30, Beijing office worker Li thought she was already on her way up China’s private property ladder with two apartments bought and rented out. Then came the new coronavirus, jobless tenants leaving town and a rent falloff.

She’s one of millions of Chinese landlords who have bought apartments to let in a highway to the country’s growing middle class, many now facing a first slump in rental income.

Analysts say there’s little prospect of widespread mortgage defaults for now, and property prices continue to grow, albeit more slowly. But the rental woes underline China’s economic fragility, with the landlord legions already cutting back on spending amid their gloom.

Li, who declined to give her full name, said she had to almost halve the rent at one of her apartments between February and May to hang on to a tenant, while her own salary was slashed 25 per cent as her employer made coronavirus cutbacks.

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International North America Politics World

Senate Race Updates: Hickenlooper Gives Democrats First Pickup, Graham Holds Seat

TOPLINE

Republicans are looking to hold on to their delicate three-seat majority in the Senate on Tuesday, and the balance of power could come down to just one or two races—here are the latest results: 

Colorado: Popular former governor and 2020 Democratic presidential candidate John Hickenlooper knocked off Sen. Cory Gardner (R-Colo.), the Associated Press projects, handing Democrats their first Senate pickup of the night in a race they saw as crucial to taking back the majority.

South Carolina: Sen. Lindsey Graham (R-S.C.) survived a challenge from Democratic candidate Jaime Harrison, the Associated Press projects, in what amounts to the most expensive Senate loss in U.S. history after Harrison raised a record $57 million in the third quarter and more than $130 million overall.

Arizona: Democrats are strongly favored to pick up a seat in Arizona, where former NASA astronaut Mark Kelly is challenging Sen. Martha McSally (R-Ariz.), who has campaigned heavily as a Trump loyalist.

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International North America World

Trump Praises Drivers That Biden Campaign Says Tried To Run Bus ‘Off The Road’

TOPLINE

President Donald Trump on Saturday offered praise to a group of pro-Trump pickup truck drivers in Texas who surrounded and slowed a Biden campaign bus and who the Biden campaign accused of trying to run it “off the road,” underscoring allegations that Trump encourages his supporters to act violently.

“I LOVE TEXAS!” Trump tweeted, along with a video of a dozen pickup trucks, sporting American and pro-Trump flags, following a Biden-Harris campaign bus on a highway in Texas.

The scene appeared to show the same incident chronicled in other videos posted to social media on Friday and Saturday showing the trucks following the bus and, in one case, ramming a white SUV accompanying it.