BEIJING, Sept. 23, 2020 (GLOBE NEWSWIRE) — Luckin Coffee Inc. (the “Company” or “Luckin Coffee”) (OTC:LKNCY) today announced the receipt of penalty decisions (the “Penalty Decisions”) from the Chinese State Administration for Market Regulation and certain of its sub-bureaus (collectively the “SAMR”). The SAMR imposed an aggregate fine of RMB61.0 million on two Luckin Coffee entities and certain implicated third-party companies (“Implicated Companies”) due to their involvement in the fabricated transactions, which the Company disclosed in its press release on April 2, 2020 (the “Fabricated Transactions”). Pursuant to the Penalty Decisions, the conduct related to the Fabricated Transactions violated the PRC Anti-Unfair Competition Laws.

The Company is fully committed to cooperating with the SAMR, and will dedicate all necessary resources to ensure full compliance by the Implicated Companies with the Penalty Decisions.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the

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Syracuse, N.Y. — Syracuse had an opportunity to kick a long field goal down 11 points with a little over four minutes remaining in Saturday’s game against No. 25 Pittsburgh.

Instead, Orange coach Dino Babers elected to go for it on fourth down, which ultimately failed. From there, the game was essentially over, as Pitt rushed the ball on seven-straight plays and killed the clock while Babers held on to all three timeouts.

Babers’ late-game clock management drew criticism from fans and alumni, including NFL Network’s Scott Hanson.

Babers explained his decision not to try the field goal after the game but did not address the use of timeouts.

“We were sitting there debating on whether we could hit it or not and that was really the last big opportunity,” Babers said. “If we kick that then it’s an 8-point deficit. Maybe you kick away, maybe you onside kick and

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No one starts a business they want to fail. Yet, very few entrepreneurs do whatever it takes to build a successful business. Most startups die the day they are born. Rarely because they are bad ideas but usually because the founders are not committed enough to build a startup that succeeds.

Even the entrepreneurs that last to see their product on the market with paying customers can eventually get overwhelmed with the accumulation of challenges and roadblocks. I have been there and I know exactly how it feels.

Turning an idea into a valuable solution that makes a difference

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By David Shepardson and Tracy Rucinski

WASHINGTON/CHICAGO (Reuters) – Two senior Boeing Co

executives who oversaw the development of the 737 MAX defended the company’s decisions on a key cockpit system later tied to two fatal crashes, according to testimony before congressional investigators seen by Reuters.

Michael Teal, then 737 MAX chief product engineer, and Keith Leverkuhn, who was vice president and general manager of the 737 MAX program, were questioned separately by investigators for the U.S. House Transportation and Infrastructure Committee in May.

“I don’t consider the development of the airplane to be a failure,” Leverkuhn told investigators for the House panel that is to release a final report next week on its investigation into the development of the plane, grounded since March 2019 after two crashes killed 346 people.

Leverkuhn defended the decision to tie a new safety system on the MAX, called MCAS, to a single sensor

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6 min read

Opinions expressed by Entrepreneur contributors are their own.


You’re reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Throughout the COVID-19 crisis, decision-making seems to have become a constant demonstration of a trial and error approach, because, barring a very few above the age of 100, none of us who are alive today have ever seen a health and economic problem this big.

However, the big worry is that we may end up accepting laxity and low quality results as the norm. Because of a pandemic of global proportions, as consumers, we keep on reminding ourselves that we must be patient, believing that companies and organizations are trying hard and must be doing their best. However, when we start to look a little bit deeper do we realize that several companies, organizations, stores, online delivery platforms are not exactly doing their best. There

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Global Vice President at Ultra Clean Technology, focusing on the integration and global P&L for UCT’s Welding Operations

When it comes to making a business more effective and efficient, business decision-makers are turning to the raw material of big data as their yellow brick road. However, the benefits of data analytics are a direct result of what data is being measured, the perspective from which the data is interpreted and how it is being applied to your business.

So, what is the best way to approach the data your company obtains? You have to continuously ask yourself, “What action does my data create?”

Below are four basic questions organizational heads should ask themselves about the data they acquire for their company before applying it.

What is the correct data?

An estimated 85% of big data projects fail, according to Gartner analyst Nick Heudecker. To avoid failure, start by

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Entrepreneur and leader in B2B solutions in both U.S. and Europe; Founder and CEO of Aparavi Software Corp. in Santa Monica, California USA.

Apart from building a team of rock star employees, one of the most important decisions business leaders can make concerns data. Years ago, upon the advent of companies like Google and Facebook, it was said that oil was no longer the world’s most valuable asset — but rather, data was the new oil.

Today there is a very different analogy: Data is water. It is no longer an asset; it is a necessity. It’s the very lifeblood of an organization. Without water, nothing would exist. Without data, a company wouldn’t exist.

The decisions we make about our data are therefore existential. But most of us are making decisions blindly, or not making decisions at all, because we have little understanding of or visibility into our

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“We will deliver the nation’s election mail on time and within our well-established service standards,” DeJoy said, vowing at least a temporary halt to what he called “operational initiatives” that triggered the most alarm. 

“It’s good he’s tapping the brakes,” said David Grosskopf, president of the National Association of Letter Carriers in Western New York branch three, representing about 1,400 members.

Still, Grosskopf said the Postal Service in the past few months disconnected five letter barcoding machines from its distribution center on William Street, machines that sort letters sent on to individual stations.

Those decisions, he said, only elevate the pressure on clerks and carriers to keep up – sometimes unsuccessfully – with pandemic deliveries that include such household necessities as checks and prescriptions.

Grosskopf said his focus is the longterm well-being of carriers and other employees, part of what he describes as an increasingly besieged operating chain that brings

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Set your small business up for success with these expert-backed financial moves that will protect and nourish your company.

In partnership with Surex

Rule number one of being an entrepreneur: When things get tough, keep going. The COVID-19 pandemic has brought to the surface many worst-case scenarios for small business owners. They’ve lost revenue, laid off staff, and some have even had to close their business permanently. Still, there are ways to ensure the financial future of your business looks bright. Here are some actions you can take right now.

Set up an emergency fund

Saving for unforeseen emergencies isn’t just for personal finances. COVID-19 has shown us the importance of businesses doing it, too. Emergency funds are necessary to cover financial fluctuations in your business, such as a slow period, unexpected tax payments, economic changes, or all of the above. Unfortunately, not all businesses make this a priority. “It’s

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