5 large points from regulation and EVs to semiconductors

A technologist inspects a computer chip.

Sefa Ozel | E + | Getty Images

GUANGZHOU, China – China’s tech sector has been on a wild ride over the past year, with regulations tightened, billions of dollars devastating corporate market value, and ongoing pressures on Beijing to become self-sufficient in technology.

These are some of the important topics to consider. be treated CNBC’s annual East Tech West event in the Nansha district of Guangzhou in southern China.

Here’s a look at the top concerns and priorities of the Chinese tech sector right now.

China’s technical crackdown

That put a heavy strain on China’s internet name. For example, Alibaba’s shares are down 41% since the start of the year.

There are several questions:

  • Will China introduce more new regulations and in what areas?
  • Which companies could be targeted next?
  • What does this mean for the growth of the technology sector in China?

CNBC addressed some of this in a recent episode of the Beyond the Valley podcast below. These talks will continue at East Tech West.

semiconductor

The ongoing tech rivalry between the US and China has made Beijing’s efforts to become more self-sufficient in a variety of sectors even more urgent. One of them are semiconductors, which are vital for everything from automobiles to cell phones.

But China is struggling to catch up with the US and other countries, and that’s because of the complexity of the semiconductor supply chain, which is dominated by foreign companies.

A good example is the chip manufacturing sector. SMIC, China’s largest contract chip maker, is several years back Taiwan’s TSMC and South Korea’s Samsung. SMIC is unable to manufacture the latest chips needed for leading smartphones.

Foreign companies master the most advanced tools and equipment required for the production of high-end chips. US sanctions have denied China access to some of these tools. Chinese companies can’t keep up.

How China will boost its domestic chip industry in the face of these hurdles is a big and ongoing debate.

Read more about semiconductors

‘Frontier’ technology

The semiconductor industry is just one of many industries in which China is trying to improve its credentials.

In his Five-year development plan, the 14th of its kindBeijing, which was released earlier this year, said it would “make science and technology self-reliance and self-improvement a strategic pillar for national development.”

The plan identifies areas that Beijing sees as “frontier technology” – artificial intelligence (AI) and space travel.

China did remarkable progress in space, including launching its own space station. It has ambitions sends its first manned mission to Mars in 2033.

When it comes to artificial intelligence, Chinese tech giants from Baidu to Tencent are investing heavily.

Electric vehicles

According to market research company Canalys, around 1.1 million electric vehicles were sold in the first half of the year, almost as many as in all of 2020. China is the world’s largest market for electric vehicles.

This growth has attracted many new tech players. Xiaomi, which is known for smartphones, is expecting it Series production of our own electric vehicles in the first half of 2024while the search giant has Baidu Set up your own electric car business with the Chinese automaker Geely.

Read more about electric vehicles

China’s economic slowdown

American Airways cancels greater than 700 flights, citing climate and staffing points

An American Airlines Boeing 777-300ER takes off from Sydney Airport in Sydney, Australia on October 28, 2020.

Loren Elliott | Reuters

American Airlines has canceled more than 1,000 flights since Friday, disruptions attributable to staffing problems and strong winds at its busiest hub.

On Saturday, American canceled nearly 460 flights, or 17% of the main flight schedule, according to flight tracking website FlightAware. based in Dallas Southwest Airlines Cut 86 flights or 2% of Saturday operations.

American has canceled another 285 flights, or 10% of its scheduled Sunday schedule, in addition to Friday’s 340 cancellations.

American COO David Seymour said in a staff note on Saturday that the problems began Thursday with strong gusts of wind reducing capacity at its Dallas / Fort Worth international airport hub and that the crew members were not in position for their next flights was.

The availability of pilots and flight attendants was cited as the reason for most of the cancellations on Saturday and Sunday, according to internal balance sheets viewed by CNBC.

“With additional weather throughout the system, our staff is running out as the crew members leave their regular flight sequences,” wrote Seymour. He said most customers were rebooked the same day and he expects operations to stabilize in November.

Airlines have faced staff shortages that have resulted in hundreds of flight cancellations and other disruptions since travel demand soared in late spring. The airlines had convinced thousands of employees to accept voluntary takeovers or leave of absence to reduce their wage bills in the depths of the pandemic.

Now they are trying to recruit staff, hire pilots, flight attendants, ramp and customer service agents and others. Leaner staffing levels make it harder for airlines to recover from disruptions such as bad weather or technology issues.

Southwest said earlier this month that there was a meltdown earlier this month that saw more than 2,000 flights canceled it cost $ 75 million. It also said it would further cut its remaining 2021 schedule after previous cuts to avoid further disruption.

American Airlines’ Seymour said 1,800 flight attendants would be returning from vacation as of November 1, and the rest would be back by December. It also means hiring pilots, mechanics, airport staff and reservation agents “so that more team members will be on site for the holiday season”.

Used automotive costs to remain excessive till automakers repair manufacturing points

If you’re waiting for used car prices to fall, check out the latest advisories on how a sign that prices have already started fallingsays one of the largest used car salesmen in the United States not to be too excited.

The rise in used car prices is unlikely to slow until manufacturers can start producing cars at pre-pandemic prices, according to the CEO of Carvana.

“[Used car sales] The volume is pretty much in line with 2019, it hasn’t changed that much – the main difference is that so much fewer new cars are being made and that is driving prices up. “Ernie Garcia, CEO of Carvana, said on CNBCs”Squawk box“on Friday.” I think up the supply chains on [original equipment manufacturers] Find out that it is likely to have a lasting effect. “

Automakers have struggled to maintain production in the face of the shortage of semiconductor chips.

fordthat had to cut his North American vehicle production in July and August due to shortages, the earnings report for the second quarter said that the supply was improved but that it lost production of about 700,000 vehicles during the quarter.

General Motors said the chip shortage will reduce its revenue by $ 1.5 billion to $ 2 billion and has been idle some of its North American assembly plants due to scarcity.

Nissan said in May it probably half a million fewer vehicles this year while BMW recently warned that the shortage will creep in by 2021.

The chip shortage will cost automakers an estimated $ 110 billion in lost sales this year, according to a May report by consultancy AlixPartners.

Used car companies see sales increase

Customers inspect a Fiat Chrysler Automobiles NC Dodge Grand Caravan minivan at a Carvana Co. location in Westminster, California, United States on Thursday, May 28, 2020.

Patrick T. Fallon | Bloomberg | Getty Images

The drop in production was a boon for used car dealers like Carvana. The company reported its first profitable quarter on Friday, posting net income of 45 million a year ago in the second quarter of 2021, and for the first time in its eight-year history, it sold over 100,000 cars in a quarter. Carvana stock is up 44% this year through Friday.

These gains have been accompanied by a large increase in used car prices. The average transaction price for a used car was $ 25,410 in the second quarter of 2021, down from $ 22,977 in the first quarter and 21% year over year. according to dates from the online automotive resource Edmunds. That number marks the highest average price over a quarter for a used car that Edmunds has ever tracked.

Debate over when used car prices level off

These high prices have helped boost the used car industry.

EchoPark Automotive, a division of Sonic Automotive that sells used vehicles set a record quarterly earnings of $ 595.6 million, up 88.9% year over year. Retail sales grew 68.9% year over year.

CarMax, the largest used car dealer in the U.S., recorded in the first fiscal quarter of 2022, which ended on 31. The company said it sold 452,188 units through its retail and wholesale channels during the quarter, up 128% year over year.

Regarding when prices might level off, Garcia said, “In the next six months, or even 12 months, I think it’s hard to say.”

“What we are finding is that OEMs supply chains are perhaps a little more fragile than we all would like, and that thousands of parts are being made around the world and waves of covid popping up in different parts of the world I think that makes it really difficult predict when that will return to normal, “he said.

By comparison, Jeff Dyke, President of Sonic Automotive, recently said on CNBC’s “Worldwide exchange“that he expects the chip shortage to ease in the coming months, what start lowering the price of used cars.

“The new car stocks will get better and better in the next few months towards the end of the year,” said Dyke. “This will reduce the number of inventory problems on the used side.”

Confusion mounts over vaccine booster as Rapper Juvenile points 90s-style plea to get vaccinated

HAMPTON, Virginia (WAVY) – In a rework of the 1999 hit, rapper Juvenile is now narrating “Girls, you look good when you spice it up.”

Juvenile’s message is sexy and clear, but what isn’t clear is vaccine maker Pfizer’s message. It now plans to offer a third shot – a booster – as the nation faces the highly transmissible Delta variant.

(Getty Images)

Concerned about the statement the CDC and FDA issued a joint statement said, “Americans who have been fully vaccinated currently do not need a booster vaccination.”

The NAACP president from Hampton is involved in ongoing efforts to encourage people of color to receive the life-saving vaccine. She hopes she can avoid additional confusion and hesitation caused by the booster announcement.

“The CDC has not yet recommended a booster. You announced that you don’t need a booster right now, ”said Gaylene Kanoyton, NAACP president, Hampton.

(WAVY Photo / Regina Mobley)

Right now, most of the COVID-19 deaths in the United States involve unvaccinated people. For this reason, the New Grafton Baptist Church, in partnership with Hampton University, offered vaccinations on Friday.

(WAVY Photo / Regina Mobley)

After receiving her second Pfizer syringe, Catherine Wilkins was stunned to learn that the pharmaceutical giant was preparing to apply for approval for a third syringe.

“I don’t think I’ll be coming back, I think I’m done,” she said with a laugh. “I’m done.

(WAVY Photo / Regina Mobley)

After receiving his first vaccination, Raymond Lyons said that instead of a booster shot, Pfizer needs to work on getting the current vaccine fully approved.

“Now Pfizer says she does [want approval of] a booster dose, but we’ve never heard of the vaccine being approved, ”said Lyons.

(WAVY Photo / Regina Mobley)

Congressman Bobby Scott (D-Va.) Was on site for the New Grafton Clinic on Friday. He urges voters to follow the science of the CDC and FDA.

“Because they put the evidence together and make the decision based on the evidence, and that’s what we should follow,” said Scott.

(WAVY Photo / Regina Mobley)

The NAACP hopes the mixed messages will not interfere with their ongoing efforts to get more shots into the arms of minorities.

“If you look at 15% of African Americans who have been offered the vaccine, that’s very low, so we need to get more people vaccinated,” said Kanoyton.

On July 9, Black Virginians made up 16.1% of the total number of vaccines administered in the state. The percentage of the black population vaccinated with at least one dose at this point was 38.9%.

Help is apparently on the way, thanks to Juvenile and a troop of rumpshakers.

“I love it – I think it’s fantastic – if we could get more rap artists to develop rap songs for the vaccine, it would be great,” said Kanoyton.

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How And When To Train Your Children About Cash Points – CBS Pittsburgh

ERSTE MUTTERBANK, PA (KDKA) – Among the many lessons learned from the pandemic is the lack of a guarantee that a paycheck will always be present. With so many young people hitting the job market after college or on their summer vacation, financial experts say now is the time to address critical money issues.

It’s not an easy conversation, but Tally’s Certified Financial Planner and financial expert says you start early: “Your children are never too young to learn about financial responsibility. So that’s all that works for your family, but the younger the better. “

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Rebel says classes should start and accelerate from the first allowance in the teenage years.

“I think that’s around 16 because at this age most children often have their first job, they often have a driver’s license that allows them not only to get that job but also to take responsibility for something quite expensive “Maybe if they have a job, they want to get in the car, the insurance company that can open a dialogue to develop that adult financial mentality for children.”

As high school graduation approaches, Rebel says, “It gets urgent when you go to college and graduate because you want them to have an exit strategy to be financially dependent on you.”

While the lessons have to be adapted to the personality of the child, take advantage of the lessons.

“For example, you have to go through your first paycheck and where all the money goes because you know what to tell them and they’ve heard you grumble about taxes, but it’s when they see it for yourself. It is real.”

During the pandemic, the problem of boomerang kids coming back to be supported by their parents has increased dramatically. Rebel says it is difficult because emotions are involved, but children need to understand, “Mom and Dad have limited resources and it is important that your children understand that. One mistake we often make as parents is that they always keep us there for them as strong. We don’t want them to see the weaknesses. “

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But it is in everyone’s interest that children understand that parents are not an unlimited ATM.

“Well, it’s so hard, but it’s important for us as parents to show them a little more about our finances again when it’s appropriate. Every child is different, but they need to know a little more about what’s wrong with us, if at all, just to protect our own finances. “

While Rebel says that an adult child asking for help is understandable, there must be limits here, too. “Is it the first time that they really don’t have the money and this will have very serious long-term consequences, we are human beings, we love our children, we want to help them.”

But after the first time, she says if you can do it, consider loaning the help.

“It can be supportive and loving and all that, it has to be sustainable and it has to be firm, and you have to really set limits at a certain point because it depends on your life and your life.”

She says just be very honest and tell them, “You can do everything by yourself now. We are here for you. We love you, but now it is time for you to part with us financially. “

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Nothing is easy here either, but Rebel says the sooner you start your finance class, the easier it will be in the long run. Children will learn that money doesn’t grow on trees or magically jump out of an ATM at any time, and guard against the unexpected.

Wauseon faculty board tackles cash and naming points | Native Information

WAUSEON – Issues related to spending money and naming facilities arose at the Education Committee for Exempt Schools meeting in Wauseon on Monday.

With the school being financially precautionary, Superintendent Troy Armstrong was reluctant to attend the Ohio School Board Association’s capital city conference.

“Do we want to go as the board of directors in view of the financial position in which we find ourselves with the fiscal provisions,” asked Armstrong. “Shouldn’t we save about $ 2,500? Shall we go for a day? “

The board of directors interfered with their ideas.

“I don’t know if I feel comfortable spending that much money, given the circumstances,” said Sandy Griggs.

On the subject of money, Treasurer David Fleming raised a few things in his report to the Board of Directors. First of all, he informed the board that an income tax levy would be voted on this fall.

The board of directors passed a resolution on the 2% income tax allocation.

Fleming also announced to the board that the district’s 2014 bond is in the process of being repaid.

“The broker made offers to 61 banks this morning,” Fleming said. “This will save taxpayers an estimated $ 100,000 a year in taxes.”

At a previous meeting, members of the community spoke about the possibility of adding former coach Larry Fruth to the name of the football field and the stadium. However, before the process could begin, the district needed guidelines for such items.

The board agreed on a guideline and hopes to be able to set up a committee to serve for the July or August meetings.

The board also heard from Jenny Tester, the district grocery manager. She explained to the board how the district used grants to pay for meals for the students.

• Approved donations of $ 7,950 to the pantry; $ 184.35 for NWOAL Championships; $ 957.38 for track / soccer scoreboard graphics and $ 250 for homecoming.

• accepted the resignations of Jaz Bluhm, Christina Bergman, Olivia Selgo and Rhonda Borton.

• accepted the resignation of Brenda Aeschliman.

• Approved the revision of LaChelle Thomas’ title from Technology Secretary to Technology Assistant.

• Approved the move of Kyle Borton from fourth grade teacher to assistant director of technology.

• Approved the transfer of Bridget Benedict from Middle School Intervention Specialist to Elementary School Intervention Specialist.

• Approved April Jackson’s transfer from teaching assistant to secretarial assistant.

• Approved the transfer of Trudy Vasvery from three-hour cook to teacher.

• offered contracts to Sydney Nardo, Karin McGilvey, Kimberly Meridieth, Caleb Wyse, Rachel Nagy, Dawn Ankney and Veronica Canales.

• offered Melody Burress a fixed-term contract as a full-time bus driver.

• Nancy Badenhop approved as a sweeper effective June 30th.

• Approved Mike Colon (cross country skiing), Ray Martinez (soccer) and Sam Smith (soccer) as volunteer coaches.

• Set breakfast price to $ 2 and lunch to $ 3.15 for K-12 students for the 2021-22 school year.

• Approved $ 30 Chromebook 1: 1 Insurance Payment for the 2021/22 school year.

• Approved workbook fee set at $ 35 for the 2021-22 school year.

• Approved a motion to enter into an inter-county joint service agreement in all other Fulton County’s school districts to transport students to educational institutions, extracurricular activities and events.

American Airways cancels flights as a consequence of staffing, upkeep points

American Airlines planes at LaGuardia Airport

Leslie Josephs | CNBC

American Airlines said it canceled hundreds of flights this weekend due to staff shortages, maintenance and other issues, challenges for the airline as travel demand rises to pre-pandemic levels.

According to flight tracking site FlightAware, about 6% of the airline’s main flight schedule or 180 flights were canceled on Sunday. The airline said this represented about 3% of its total flights, including those operated by regional airlines. About half of them because of unavailable flight crews, showed a company list that was viewed by CNBC. About 4% or 123 flights were canceled on Saturday, the website showed.

American said it was cutting its overall plan by about 1% by mid-July to alleviate some of the disruption, some of which was due to bad weather at the hubs of Charlotte International Airport and Dallas / Fort Worth in the first half of June.

“The bad weather, combined with the labor shortage that some of our suppliers are struggling with, and the incredibly rapid rise in customer demand, has led us to make our operations even more resilient and safer by cutting a fraction of our planned flight times by mid- July, “American Airlines spokeswoman Sarah Jantz said in a statement. “We have made targeted changes with the aim of influencing the least possible number of customers by adjusting flights in markets where we have multiple options for rebooking.”

Bad weather has adversely affected flight crews’ ability to get to assigned flights, and bad weather can cause crews to drop outside of working hours they are allowed to work at the federal level, the spokeswoman said.

Dennis Tajer, spokesman for the Allied Pilots Association, which represents the roughly 15,000 American pilots, said the company should offer more overtime upfront to encourage staff to fill out, as well as more flexibility in pilot plans to cover staff shortages.

“You’re trying to put a plaster on something that needs sewing,” said Tajer, who is also the captain of a Boeing 737.

American is also rushing to train any pilots it has taken on leave between two state aid packages that prohibited layoffs, as well as its Airmen due for regular recurring training. Jantz said American is well on its way to completing the training of pilots on leave by the end of this month, adding that the company is offering overtime due to its operational issues.

Delta Airlines canceled more than 300 flights last Thanksgiving weekend and many others during the holiday season a Lack of pilots.

The weekend disruption previously reported on the airline’s View from the Wing blog comes just as airlines are trying to capture spikes in travel demand and curb record losses. American said in a filing earlier this month that capacity will decline 20 to 25% in the second quarter from 2019 while United Airlines said it expected its capacity to decrease by about 46% and delta forecast a decrease of 32% compared to 2019. Southwest Airlines predict July capacity will lag just 3% from 2019, down from a 7% decline this month.

Demi Lovato points warning about weight-loss compliments | Leisure

Demi Lovato thinks it is dangerous “to compliment someone on their weight loss”.

The top-charting pop star has warned that compliments on weight loss can have deleterious effects on mental health.

Demi, 28, wrote on Instagram Story: “Idk who needs to hear this but complimenting someone on their weight loss can be just as harmful as complimenting someone on their weight gain when talking to someone who has an eating disorder recovered. “

“If you don’t know the story of someone with food, please don’t comment on their body. Because even if your intent is pure, that person could stay up at 2am and reconsider that statement … (sic)”

Demi – who struggles with addiction and eating disorders – warned fans about the potentially destructive effects of weight loss comments.

The post went on, “Does it feel great? Yes, sometimes. But just to the loud eating disorder voice in my head saying,” See, people like you thinner, “or” If you eat less, you lose even. ” more weight.’

“But sometimes it can suck because then I start to think, ‘Damn it. What did you think of my body before?’ Moral of the story: I am more than the shell for my soul, which is my body, and every day I struggle to remember it, so I ask you not to remind me that sometimes everybody sees this of me . [heart and prayer emojis] (sic) “

Meanwhile, Demi recently came out as non-binary.

Hitmaker “Cool for the Summer” announced the news through a series of Twitter posts and confirmed plans to change their pronouns from “she” to “she”.

In a video posted on Twitter, Demi stated, “I want to take this moment to share something very personal with you. For the past year and a half, I’ve done some healing and self-reflective work and through that work I had the revelation that I was a identify non-binary.

“With that said, I will officially change my pronouns to them / them. I feel that this best represents the fluidity I feel in my gender expression and allows me to be the person I know about that I am still discovering that I am her, most authentic and most faithful to feel. “

Cash points nonetheless predominant concern for legislators | Native

Louisiana lawmakers will figure out how much money to spend Tuesday when the state’s Revenue Estimating Conference convenes to review and revise official revenue projections for fiscal years 2021 and 2022. The balance sheets for the end of 2020 will also be recognized at the conference.

Tax reform, a major goal of Republican lawmakers, has been sidetracked by controversy involving the chairman of the House Education Committee. With only four weeks left in the finance meeting, the controversy will have to be resolved soon if leadership is to achieve lengthy tax reform.

The House is expected to approve the Senate changes on Monday House Speaker Clay Schexnayder, R-Gonzales, made to House Bill 199. With the proposed amendment to the state constitution, a central system for collecting state and local sales taxes will be set up. It passed House 97-4 and Senate 37-0.

Voters will decide the fate of this change on November 8, 2022. If approved, a law will have to be enacted to establish the centralized system. State and local officials will work together to complete this work.

Three bills are slated for a final vote in the House of Representatives on Monday. They are House Bill 428 from Rep. Brett Geymann, R-Moss Bluff; HB 597 from Rep. Blake Miguez, R-Erath; and HB 608 from Rep. Randall Gaines, D-LaPlace.

Geymann’s measure prohibits the use of state-declared disaster funds to increase recurring government spending. Miguez legislation prohibits government agencies and political divisions from entering into contracts with companies that discriminate against firearms companies.

Gaines’ bill provides for a US $ 100,000 death benefit for a state Department of Transportation and Development (DOTD) employee killed in a dangerous situation in the course and scope of employment.

Three bills for a final vote on Tuesday are HB 40 from Rep. Mark Wright, R-Covington; HB 138 from Rep. Les Farnum, R-Sulfur; and HB 149 from Rep. Larry Frieman, R-Abita Springs.

Wright’s move, which begins in fiscal 2022-23, will limit the use of Transportation Trust Fund money to fund the salaries and benefits of DOTD employees and retirees. These funds must come from the state general fund.

Farnum Legislation creates an additional annual Registered Voter List to identify voters who have moved and need to update their voter registration to their current address. They would be put on an inactive list until their address could be verified.

Frieman’s bill would allow any house of lawmakers to denounce a governor’s declaration of emergency or part of the declaration. If approved, the change would not take effect until a new governor took office on January 8, 2024.

The House Appropriations Committee will hear HB 582 from Rep. Jack McFarland, R-Jonesboro, Monday. It would provide $ 120 million of the 16-cent portion of the state gasoline tax for the construction sub-fund of the Transportation Trust Fund.

The legislation also provides for a one-time road charge of $ 1,000 for electric vehicles and a one-time road charge of $ 500 for hybrid vehicles. These funds would also be used for the Construction Sub-Fund.

A tax return states that redirecting this revenue could result in significant revenue from the general sovereign wealth fund that is needed to replenish the DOTD budget.

The Senate Income and Taxes Committee will hear HB 697 Monday from Rep. John Stefanski, R-Crowley, which will set the fees and taxes for sports betting.

Bills dealing with tax reforms, homeowners insurance claims, and elections are on both the House and Senate lists. Sponsors of these activities can check them out on the calendar at any time, and the House schedules some of these bills for specific law days.

Jennifer Lopez ended Alex Rodriguez engagement over ‘belief’ points, sources declare | Leisure

Jennifer Lopez reportedly ended their engagement because she couldn’t fully trust Alex Rodriguez.

The former couple recently announced their decision to split, and it has now been claimed that it was Jennifer who ultimately decided to set the time for the romance because “too many problems remained unsolved”.

A source told People magazine, “She insisted. There are too many problems that remain unsolved. She was pretty miserable and didn’t think it was in her best interest to stay with Alex. “

The insider also claimed the “Hustlers” actress could no longer “fully trust” the former baseball player, and a second source said the couple had lost their “special spark.”

They added, “They both enjoyed spending more time together as families, but it was difficult to keep that special sparkle when they saw each other every day.”

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It was first reported that Jennifer and Alex broke up in March, and while they said they had only worked through a few issues at the time, they ultimately confirmed that their romance was over last week.

In a joint statement, they said: “We have recognized that we are better as friends and look forward to continuing to do so. We will continue to work together and support each other in our mutual businesses and projects. We wish each other and everyone that Best.” the children of others. “

Last month, it was revealed that Jennifer and Alex were focusing on their children – Jennifer’s 13-year-old twins Emme and Max and Alex’s daughters Natasha, 16, and Ella, 12 – as they’ve all grown close together.

And it has also been alleged that while they just “hit one rough spot” in their romance, they never completely broke up.

Adding to the couple’s relationship, the insider added, “They never officially broke up and talked about it, but are still together. They have reached a tough point. But they haven’t broken up … She works in the Dominican Republic and he is in Miami, so it is. ” It’s hard to see each other, especially with quarantine and COVID, but they want to try to stay together. “