Yellen to Arrive in Beijing at 4:30am ET Thursday.
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Via Bloomberg
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Elon Musk plans to assume the role of chief executive officer at Twitter Inc. after completing his $44 billion acquisition, taking the helm of the social media giant on top of leading Tesla Inc. and SpaceX, Bloomberg News reports.
Musk intends to replace Parag Agrawal, who was fired along with other major executives upon completion of the takeover, a person familiar with the matter said, asking not to be identi...

Sunac China Receives Winding-up Petition in H.K. Court
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iQIYI 2Q total revenues were RMB6.7 billion, decreasing 13% year over year; membership services revenue was RMB4.3 billion, increasing 7% year over year; operating income was RMB125.8 million and operating income margin was 2%.
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Baidu: Despite a challenging macro environment caused by Covid-19, Baidu Core generated RMB23.2 bln in revenues in the second quarter, while Baidu AI Cloud revenues maintained rapid growth momentum of 31% year over year and 10% quarter over quarter.
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Baidu 2Q adj EBITDA 7.05b yuan, vs forecast 5.47b yuan; adj profit per ADS 15.79 yuan, vs forecast 9.81 yuan; adj operation profit 5.49b yuan, vs forecast 3.3b yuan; revenue 29.65b yuan, vs forecast 29.41b yuan.
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China's central bank cuts the 5-Y Loan Prime Rate by 15 bps, 1-Y by 5bps.
5-year LPR at 4.30% from 4.45%;
1-year LPR at 3.65% from 3.70%.
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Tencent Holdings $TENCENT (00700.HK)$ plans to sell all or bulk of its stake in food delivery firm Meituan $MEITUAN-W (03690.HK)$ as early as this year, Reuters cites sources.
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Elon Musk says can lower prices for cars if inflation calms down.
Musk said that if inflation cooled, car prices could be reduced (Tesla, Inc.).
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