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As of the end of June, the total financing of Beijing's AI companies had exceeded 300 billion yuan, and the city has become the largest pool for AI-related talent in China, the report said.

As part of the report, Cowen compared Amazon’s clothing business to Target and Walmart. Over the last 10 quarters, the report found that Amazon has seen an average of 28 percent annual growth in the share of customers buying clothes. Both Target and Walmart have seen an average 2 percent year-over-year drop in the share of customers buying clothes and apparel in that time period.

As more questions emerge in the minds of those watching from outside China, Liu said the opportunities to tell stories from inside the country are growing. However, so too are the challenges.

As of Oct 1, the Centers for Disease Control and Prevention (CDC) identified 1,080 lung injury cases related to the use of e-cigarette, or vaping across 48 states and the US Virgin Islands. In California, there have been more than 100 cases of lung injury.

As part of its reorganization, the 118-year-old company said late Friday it will be shuttering some stores. It said the stores will close in phases throughout the Chapter 11 process and details of the first phase will be disclosed in the coming weeks. Penney is the biggest retailer to file for bankruptcy reorganization since the pandemic and joins luxury department store chain Neiman Marcus, J.Crew and Stage Stores. Plenty of other retailers are expected to follow as business shutdowns across the country have evaporated sales. In fact, U.S. retail sales tumbled by a record 16.4% from March to April.