Luckin Coffee Stock Collapses After News of Fake Data
Shares of Luckin Coffee Inc. sank over 80 percent after the company said one of its top managers and other employees had faked sales figures. The fast-growing Chinese coffee chain has suspended its chief operating officer Liu Jian and staff reporting to him.The decision came
Luckin Coffee,which has been described as a challenger to Starbucks,was one of China's few successful U.S. stock market listing last year. Founded in 2017,it was listed on the NASDAQ last May.It had set up some 4,500 stores in more than 40 cities across China by the end of 2019. Most of these stores are small "pick-up"stations
The Xiamen-based company said its own investigation had found that its fabricated sales figures,
Luckin also said that it still needed to look into other costs and expenses that were considerably inflated during the same period. The company added that it is assessing the overall financial impact of the misconduct on its financial statements. At the same time, Luckin warned investors that they
The 89-page anonymous report was sent to the high-profile investment firm Muddy Waters Research,which published it on January 31.The report alleged that Luckin had fabricated financial and operating figures from the third quarter of last year. At the time,Luckin strongly denied the allegations, describing them as "misleading and false."
How to Sell Books in 2020: Put Them Near the Toilet Paper
If you want to sell books during a pandemic, it turns out that one of the best places to do it is within easy reach of eggs, milk and diapers.
When the coronavirus forced the United States into lockdown this spring, stores like Walmart and Target, which
Warehouse stores do not generally reveal how much they sell of particular products, but people across the publishing industry say that sales
Some grocery chains and pharmacies saw an increase, too, even
Stores like Target,
“Covid-19 and the government stimulus check have increased the demand
The question for publishers is
Previously, cross-cultural marriage were not accepted. However, most people now get married out of love for one another, not because of one’s race. Cross-cultural marriages, therefore,
A web-based survey conducted by Divorcees Club found that many of its members had been in unhappy cross-cultural marriages: Loneliness, custom differences and adapting to a new lifestyle were quoted as the main reasons. The club provides a wide range of services
Most studies conducted on interracial marriages conclude
Walmart has a plan to tackle the climate crisis. Can it pull it off?
Every day a seemingly never-ending stream of toothbrushes, toilet paper, tape, thumbtacks, toys and
The retailer, which was for many years
Walmart has declared its mission
Over the past years, Walmart
"It's extraordinary," said Michael Vandenbergh, co-director of the Climate Change Research Network at Vanderbilt Law School,
Yet it's an uphill task for a retail giant with a business model based on providing tens of millions of low-priced products to a growing number of customers. The big question will be
In the presence of animals
A professor of public health at UCLA says that pet ownership might provide a new form of health care. As far back as the 1790s, the elderly at a senior citizens’ home in England
Scientists think that animals’ companionship is beneficial
Not only do people seem
Research confirms that the findings concerning senior citizens can be applied to restless children. They are more easy-going when there are animals around, with
Craftsmen enjoy their brush with success
NANCHANG — Zhou Pengcheng, 76, has dedicated his life
Zhou, who hails from Wengang township in East China's Jiangxi province, has been engaged in this ancient handicraft for more than six decades.
Wengang's long-standing tryst with brush pens dates back to 1979. Over the decades, the town has grown into one of the country's biggest brush-pen markets,
In Chinese culture, writing brushes
More than 400 brush-making enterprises and over 2,200 brush workshops are located in
Zhou
The craft of making writing brushes in Wengang involves 128 steps. The local brushes have proved popular in overseas markets, such as Asia, Europe, and the United States, and particularly in Japan and the Republic of Korea.
"I found calligraphy
In June, Wengang's brush-making skills were listed as a national intangible cultural heritage, says Wu Shaoyun, Party chief of the town.
"Since the beginning of this year, we have mainly focused on how
Currently, the town is eyeing a new boom in the digital era. It has launched tailored services to better meet customer needs in areas of culture, tourism and e-commeice.
What should you take in with you
According to a study at the British Psychological Society Annual Conference held in London,
Scientists at the University of East London and the University of Westminster, UK, did a study on 447 students. The students
Scientists then compared their exam results
It is unclear why drinking water improves exam results,
So next time, when you are going to have a big exam,
How TV impacts children
Dr. Heinrich Applebaum recently completed a study on the effects of television on children. In his case, though, he wasn’t concerned
Dr. Applebaum told me,“One of
“Not only is there always a parking spot available but the driver doesn’t even have to back into it. There are two parking spaces available
“ I never thought of it but it’s true . What else do they show on television which gives a
“Not really. ” “Well, if you had, the driver would have told you to blow it out your ear. No taxi driver is in a mood
But on TV every cabdriver looks as if he ’d like
Are you a moviegoer? If, like me, you're a fan of film, then there's no better place to watch something than on the big screen at the cinema. You enter the dark auditorium and take your seat, ready to
Over the last few years, cinemas
One answer to that question is convenience. Rather than
But the coronavirus pandemic
This isn't great news for cinemas. They rely on the release of a big blockbuster to bring the crowds back, but the launch of new films, such as James Bond: No Time To Die,
The first Black Woman in the Congress
Being the first black woman
If I said that being black is a
Prejudice against blacks was invisible to most white Americans for many years. When blacks finally started to "mention" it, with sit-ins and freedom rides, Americans could hardly believe it."Who, us?" they asked
How much harder will it be to eliminate the prejudice against women? I am sure it will be a longer struggle. Part of the problem is