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☆ Massive floods threaten tens of millions as intense rains batter southern China
▼ + stars: | 2024-04-22 | by ( Nectar Gan | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Heavy rains hammered southern China on the weekend, flooding homes, streets and farmland and threatening to upend the lives of tens of millions of people as rescuers rushed to evacuate residents trapped by rising waters. Since April 16, sustained torrential rains have pounded the Pearl River Delta, China’s manufacturing heartland and one of the country’s most populated regions, with four weather stations in Guangdong registering record rainfall for April. Since last week, at least 44 rivers in the Pearl River basin have swelled above the warning line, threatening to burst their banks, according to state broadcaster CCTV. Aerial view of waterlogged fields after torrential rains on April 20, 2024 in Qingyuan, Guangdong Province of China. Authorities raised the flood control emergency response for the Pearl River Delta to level 2 on Sunday – the second highest in a four-tier system.

Organizations: Hong Kong CNN, Xinhua, China Meteorological Administration, Visual China, CCTV, Authorities Locations: Hong Kong, China, Guangdong, Jiangwan, Shaoguan, Pearl, Qingyuan, Guangdong Province of China, Guangning county, Zhaoqing, Qingyuan city, Guangzhou, Shenzhen

☆ China tries to halt stock market rout by boosting lending and wooing foreign investors
▼ + stars: | 2024-01-24 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —China has vowed to pump more money into the economy and further open its $64 trillion financial industry to international investors, as Beijing scrambles to restore confidence following a massive stock market rout. The astonishing losses, reminiscent of the last Chinese stock market crash of 2015-2016, highlight a crisis of confidence among investors concerned about the country’s future. It will allow Hong Kong banks to expand their businesses in mainland China and reduce the barriers to investing in mainland insurers. Last month, China Reform Holdings, a state-owned investment fund, announced it had bought tech-focused index funds to support the market. The brutal sell-off in Chinese stock markets has even forced some hedge fund managers to apologize for making wrong bets.

Persons: Li Yunze, “, Pan Gongsheng, Goldman Sachs, Li, ”, Lam, Li Qiang, Wang Zhao, Premier Li Qiang, Stringer, Li Bei Organizations: Hong Kong CNN, Administration of Financial, People’s Bank of, Buildings, New Champions, Getty, Premier, Xinhua, Reuters, Securities Daily, Social Security Fund, China Reform Holdings, Central Huijin Investment, Shanghai Banxia Investment Management Locations: China, Hong Kong, Beijing, Shanghai, Shenzhen, People’s Bank of China, Victoria Harbour, British, Tianjin, AFP, Central, Fuyang, China's, Anhui

Over the past decade, China has placed more and more restrictions on the lives of its citizens — tightening its hold over what people can do, read and say. When Bei Zhenying’s husband was arrested and sentenced to seven years in prison for “smearing” the country’s political system, she was left to pick up the pieces of his life. She now believes that her husband was the writer behind one of the most mysterious blogs on the Chinese internet, which for 12 years had ridiculed the ruling Communist Party from within the country. Vivian Wang, a China correspondent for The Times, tells the story of the couple.

Persons: Bei, Vivian Wang Organizations: Communist Party, The Times Locations: China

"For China, it is 'bad news is good news' at the moment," said Jun Bei Liu, portfolio manager at Tribeca Investment Partners in Sydney. Even before the latest disappointing growth data, a slew of soft economic indicators had shown China's recovery was falling short, slamming the brakes on nascent stock market rallies. Foreign money has been leaving, with worries over China's cyber-security crackdowns and Sino-U.S. flaps over chips and rare metals adding to growth concerns. REVIEWING CHINAGoldman Sachs analysts led by Kinger Lau also believe a 'tactical market recovery' thesis is compelling, and project a 15% 12-month return for the CSI300. "We are conservative about the extent of the policy support down the road," said Alicia Garcia Herrero, chief economist, Asia Pacific at Natixis.

Persons: Jun Bei Liu, Liu, Marcella Chow, CHINA Goldman Sachs, Kinger Lau, it's, Mike Kelly, Alicia Garcia Herrero, Eugenia Victorino, SEB, Victorino, Ting Lu, Jason Xue, Tom Westbrook, Kim Coghill Organizations: Tribeca Investment Partners, CSI, Morgan Asset Management, CHINA, JPMorgan, PineBridge Investments, Nomura, Thomson Locations: China, Sydney, U.S, Asia, Natixis, Shanghai

☆ A Chinese woman had no idea her husband was a famous critic of China's government until police stormed into their apartment and dragged him out
▼ + stars: | 2023-07-06 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +2 min

A Chinese woman believes her imprisoned husband, Ruan Xiaohuan, is the legendary dissident blogger behind ProgramThink. She told The New York Times that she had no idea about her husband until police dragged him away. She spent months fighting to overturn his conviction before she went silent in June, the times reported. At the time, Bei had no idea what was going on as Chinese police spent 12 hours ransacking her apartment, according to the Times. And the same month that Bei's husband was taken away, the blog went dark, the Times reported.

Persons: Ruan Xiaohuan, —, Bei Zhenying, Bei, Ruan Organizations: New York Times, Service, Times, Twitter Locations: Shanghai

☆ China Took Her Husband. She Was Left to Uncover His Secret Cause.
▼ + stars: | 2023-07-05 | by ( Vivian Wang | ) www.nytimes.com time to read: +2 min

Then, the blog went silent in May 2021 — the same month Mr. Ruan, now 46, was arrested. Whether Mr. Ruan was Program Think is virtually impossible to confirm. China treats national security cases with absolute secrecy, and Ms. Bei has not been allowed to speak to Mr. Ruan. She didn’t even bother circumventing China’s internet censorship. But as she was forced to search for answers, she found herself on a journey of awakening — much like the kind Program Think had set out to inspire.

Persons: Bei, Mr, Ruan, Xi Organizations: Communist Party Locations: China

☆ Here are Friday's biggest analyst calls: Apple, Amazon, Broadcom, Bowlero, Microsoft, Rivian & more
▼ + stars: | 2023-06-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Friday's biggest calls on Wall Street: Bank of America reiterates Broadcom as buy Bank of America raised its price target on the stock to $950 per share from $800 after Broadcom's earnings report on Thursday. "Our new PO of $950 (from $800) represents 21x CY24E EV/FCF as AI accelerates company growth potential. Bank of America reiterates Five Below as buy Bank of America said the discount retailer has "recession resilience." Bank of America upgrades Surgery Partners to buy from neutral Bank of America said the health care company has " favorable long-term tailwinds." Bank of America reiterates Lululemon as buy Bank of America said Lululemon is a "best-in-class growth story."

Persons: it's, Riley FBR, Riley, Piper Sandler downgrades, Piper, Morgan Stanley, Apple, it's bullish, Wells, Stifel, Goldman Sachs, Goldman, 100bps, Frank Klein, Tim Fallon, Tim Bei, Derek Mulvey, RIVN, Lululemon Organizations: Bank of America, Broadcom, Warner Music, JPMorgan, Energy, Surgery Partners, of America, Partners, Amazon, Microsoft, ISI, Barclays, Strategic Finance, Citi, Frontier Citi, LaGuardia, Spirit Airlines, Watch Locations: Valvoline, Biopharma, Agriculture, Normal , IL

☆ China Detains Taiwan-Based Publisher in National Security Investigation
▼ + stars: | 2023-04-26 | by ( Amy Chang Chien | ) www.nytimes.com time to read: +1 min

TAIPEI, Taiwan — A Taiwan-based publisher who disappeared while in China has been detained for suspected violations of security laws, Chinese authorities confirmed on Wednesday, fanning concerns in Taiwan that Beijing is sending a warning to the island’s vibrant publishing sector. The publisher, Li Yanhe, widely known by his pen name, Fu Cha, is a Chinese citizen who has been living in Taiwan since 2009. His company, Gusa Publishing, is well known in Taiwan for books that cast a critical eye on China’s ruling Communist Party. Mr. Li had returned to China early last month to visit relatives but fell out of contact shortly after, according to his colleagues and friends. Mr. Li’s detention is “a strong blow and will have a chilling effect,” Bei Ling, a writer from China living in Taiwan, said on Wednesday.

☆ Stern German Judge Objects to ‘Absurd’ Law Criminalizing Pot
▼ + stars: | 2023-04-22 | by ( Christopher F. Schuetze | ) www.nytimes.com time to read: +1 min

Although the judge had steeled himself for a grueling fight, the cannabis case was over in mere minutes. But the district attorney said he planned to try the case under Germany’s youth laws. That gave Judge Andreas Müller an opening. Presiding over the courtroom in the traditional black robe and white tie, he immediately threw out the case, citing a youth court statute that encourages rehabilitation rather than punishment. The defendant, Justin H., whose surname is protected by Germany’s strict privacy laws, was too stunned to react other than to nod.

☆ VIEW US intervenes to shore up SVB deposits, stem financial fallout
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +10 min

March 13 (Reuters) - The U.S. government announced actions to shore up deposits and stem any broader financial fallout from the sudden collapse of tech startup-focused lender Silicon Valley Bank (SIVB.O) (SVB), sending U.S. stock futures higher. "The market turbulence sparked by SVB has upended rising market expectations on the Fed rate path. The fact that SVB and Signature Bank depositors will be made whole is critical in maintaining trust in the financial system and should help stem contagion fears this week. But it also means that 50 basis points (a possible Fed interest rate hike) is off the table." Given what's happened in the U.S. financial system, a 25 basis point hike is more likely than a 50 basis point hike."

☆ Instant view: US intervenes to shore up SVB deposits, limit financial fallout
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +11 min

March 13 (Reuters) - The U.S. government announced actions to shore up deposits and stem any broader financial fallout from the sudden collapse of tech startup-focused lender Silicon Valley Bank (SIVB.O) (SVB), sending U.S. stock futures higher. ALVIN TAN, HEAD OF ASIA FX STRATEGY, RBC CAPITAL MARKETS, SINGAPORE:"Markets remain unsettled from the SVB failure. "The market turbulence sparked by SVB has upended rising market expectations on the Fed rate path. ANTHONY SAGLIMBENE, CHIEF MARKET STRATEGIST, AMERIPRISE FINANCIAL, TROY, MICHIGAN:"It was imperative that regulators stepped in and decisively acted before markets around the world opened for the week. GREG MCBRIDE, CHIEF FINANCIAL ANALYST, BANKRATE:"While the Fed has talked about a lot in the past year, until today it has been in the context of monetary policy.

☆ SVB collapse could add to China stock investors' anxiety
▼ + stars: | 2023-03-12 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

SHANGHAI, March 12 (Reuters) - China stock investors, already disillusioned by Beijing's lower-than-expected economic growth target for the year, will be further disheartened by the shock collapse of U.S. lender SVB Financial Group, market participants said. The market mood could be damped further following Friday's sudden collapse of start-up focused lender SVB (SIVB.O), which stirred heated discussion over the weekend in China about its fallout. But many Chinese tech start-ups, especially those with dollar funding, have opened U.S. accounts at SVB. He is cautious about tech stocks that could be impacted by US-China frictions. Still, domestic A-shares will likely outperform offshore China stocks, which are more vulnerable to potential spillover from the SVB collapse, analysts say.

☆ Australian pension fund client queries GQG about Adani investment
▼ + stars: | 2023-03-03 | by ( Lewis Jackson | ) www.reuters.com time to read: +2 min

SYDNEY, March 3 (Reuters) - An Australian pension fund client of GQG Partners has asked the U.S. boutique investment firm for more information about its nearly $1.9 billion investment in the embattled Indian Adani group. GQG Partners bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller's critical report sparked a stock rout. Cbus Super, with A$71 billion under management, has a A$243 million emerging markets mandate with GQG Partners. The $258 billion fund had no investments in Adani Group companies as of June 2022, according to a review of the most recent holdings disclosures. Shares of Australia-listed GQG Partners closed down 3% on Friday after news of the investment was made public.

☆ 23 major brands suspected of illegally sourcing products made by forced labor in China
▼ + stars: | 2022-12-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

And more ...Mary Meisenzahl/InsiderThese companies have also been suspected of having direct or indirect ties to Chinese forced labor in the aforementioned reports. Bosch"Bosch is committed to ensuring that its products are not produced wholly or in part by forced labor. "Compliance with human rights, labor rights and environmental standards is a top priority at PUMA and has been specified in our Codes of Conduct for over 20 years." As stated in our Business Conduct Guidelines, we reject all forms of oppression, forced labor and participation in human rights violations. We will continue to respect human rights and take a strong stand against forced labor."

☆ Christmas vacations: 15 of the best places to go
▼ + stars: | 2022-12-03 | by ( Cnn Staff | ) edition.cnn.com time to read: +13 min

The Bath Christmas Market has a multitude of wooden chalets selling distinctively British handmade crafts in a quaint Georgian setting. Bogotá, ColombiaA woman dressed as Santa Claus sits next to a Christmas tree and a Christmas star at Bolivar Square in Bogota. Salzburg and Oberndorf, AustriaThe Christmas Market and associated festivities in Salzburg are really something to sing about. Dating back to 1570, Strasbourg claims to be the oldest Christmas market in France and one of the oldest in Europe. damianalmua/Adobe StockThe traditional Christmas colors of red, green and white take on an entirely new meaning in New Zealand.

Persons: CNN —, Santa Claus, Claus, ”, Allan Baxter, Jesus, Jane Austen, Jane Austen Centre –, Austen, Melchior, Gaspar, Balthazar, Roy Rochlin, Bergdorf Goodman, Wangari Maathai, Fernando Vergara, “ Ruta, John’s, Miguel de Allende, Mary, Joseph, “ posada ”, Mozart, White Organizations: CNN, Bath Abbey, Jane Austen Centre, The, Royal, Catholic, Rockefeller, Getty Images Rockefeller, New York, Radio City, Columbus Circle, Fashion’s, Saks Fifth, Macy’s Herald Square, Kenyan, Park, Nuremberg, Toy Museum, Bolivar, Downtown, Malta Toy Museum, Quebec City, Adobe, Nord Expe, Mexico Piñatas, UNESCO, ”, Santa Locations: England, Philippines, Rovaniemi, Lapland, Finland, Santa, Bethlehem , Pennsylvania, Philadelphia, New York City, Bethlehem, Moravian, Bath, “, Fernando , Philippines, Asia, San Fernando, Catholic Philippines, Manila, of Bethlehem, Barcelona, Spain, Santa Eulalia, New York City New York, Central Park, Macy’s, Nairobi, Kenya, Nuremberg, Germany, German, Bogotá, Colombia, Bogota, Christmastime, Malta, Downtown Valletta, Quebec City, Canada, Petit Champlain, Quebec, Old Quebec, Sentier, Nord, Miguel, Mexico, posadas, ponche, Piñatas, Salzburg, Oberndorf, Austria, ” Salzburg, Bavaria, Strasbourg, France, Europe, Queenstown , New Zealand, New Zealand, Queenstown, Wakatipu

Almost three years of pandemic restrictions have been especially hard for Zu, who has autism spectrum disorder, but thanks to Chen's Studio, music has become his saving grace. REUTERS/Tingshu WangBEIJING, Dec 2 (Reuters) - Almost three years of pandemic restrictions have been hard for 23-year-old Chinese villager Zu Wenbao, but thanks to Beijing-based Chen's Studio, music has become his saving grace. All that changed when he started learning music free of charge at Chen's Studio, which started lessons for people with autism just as the pandemic began. Chen says he knew very little about autism before he started teaching a bass player with the disorder in 2020. When COVID-19 lockdowns and restrictions on movement curtailed his regular music lessons, Chen started the free-of-charge lessons for people with autism.

☆ China is easing its Covid measures. Here’s how market pros are playing it
▼ + stars: | 2022-11-15 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

China announced a shortening of its quarantine requirements last week, while simplifying travel rules and adjusting its monitoring regime. China has stood firm on its zero-Covid policy even as countries around the world adopt a "live with the virus" approach. Fund manager Brian Arcese believes the market reaction reflects the "underlying fundamentals that earnings will really start to improve." Meanwhile, Arcese, who is a portfolio manager at Foord Asset Management, said the firm has a China exposure of about 20%. It should benefit from the re-opening of China as tourism gradually recovers to pre-Covid levels," he added.

☆ Dollar, bond yields rise ahead of pivotal rate hikes
▼ + stars: | 2022-10-31 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

Combined with news that Italy's economy grew far more strongly than expected in the third quarter, euro zone bond yields moved higher EUR/GVD although the euro succumbed to another bout of U.S. dollar strength. /FRX"A lot of data is coming out this week and lot of central banks are meeting," said Societe Generale strategist Kit Juckes. Palm oil futures rose nearly 5%. In the oil markets, Brent crude futures fell 1% to $94.65 a barrel, while spot gold was fractionally lower at $1,637 an ounce in the precious metals markets. Additional reporting by Tom Westbrook in Singapore; Editing by Kirsten Donovan and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks splutter, euro falls ahead of euro zone inflation data
▼ + stars: | 2022-10-31 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

,Euro zone October inflation numbers due shortly are seen hitting a fresh record of 10.2% year on year, in what will make for more uncomfortable reading for the European Central Bank, which is targeting 2% price growth. Combined with news that Italy's economy grew far more strongly than expected in the third quarter, euro zone bond yields moved higher EUR/GVD although the euro succumbed to another bout of U.S. dollar strength. /FRX"A lot of data is coming out this week and lot of central banks are meeting," said Societe Generale strategist Kit Juckes. We are now waiting for euro zone GDP and CPI. S&P 500 futures fell 0.2%, while Germany's 10-year government bond yield, the benchmark for the euro area, was up 5.5 basis points (bps) to 2.143%.

☆ Stocks rally wobbles as Fed hike draws near
▼ + stars: | 2022-10-31 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1%, though China stocks were held flat by disappointing economic data. The index is down ten months in a row and near two-year lows, rattled by growth and interest-rate hike fears. The mixed performance follows an erratic earnings season on Wall Street and bond and currency markets tempering some wagers on a change in tone from the Fed. S&P 500 futures fell 0.2%, while European futures rose 0.4%. Palm oil futures rose nearly 5%.

☆ Asia stocks creep higher on hopes Fed will tone down hikes
▼ + stars: | 2022-10-31 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

But China stocks fell following weak economic data, and the MSCI index is set for a tenth consecutive monthly loss. The performance follows a Friday rally on Wall Street but comes with bond and currency markets tempering some wagers on a change in tone from the Fed. S&P 500 futures fell 0.2%. Corn futures rose 2%. Rates and Fed funds futures traders have now tempered initial optimism and see the funds rate hitting near 5% by May next year.

☆ There is an 'enormous amount of opportunity' in China stocks, says portfolio manager
▼ + stars: | 2022-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is an 'enormous amount of opportunity' in China stocks, says portfolio managerJun Bei Liu of Tribeca Investment Partners says 2023 will be a good year for China's economy, especially for domestic consumption.

☆ Best Chinese food: 32 must-try dishes
▼ + stars: | 2022-10-13 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +20 min

Dan dan noodlesIt’s nearly impossible to dislike China’s soul-comforting dan dan mian, or dan dan noodles. Dan dan noodles are named after the way they were originally sold more than 100 years ago – on a dan dan, a carrying pole, by street hawkers. Some think dan dan noodles should contain a dry mix of noodles, made with minced meat, chopped scallions, spices, crushed peanuts and various sauces. Others disagree, preferring dan dan noodles in a hot, spicy, salty and nutty broth albeit with similar ingredients. Similar to Hainanese chicken rice, the Wenchang version is often served with yellow chicken fat rice and chicken soup.

Persons: –, It’s, Dan, mian, jiao, you’ve, Ding Baozeng, Ding Gongbao, Ding, Hanyuan, cai, hei, Jian bing, jian bing, bing guozi, Chen, chow, Su Dongpo, China’s, zhu, Shui zhu, zhu niu, Bao Bao, bao, jian bao, Rou jia, xin, cheung, yun cheung, Laap cheung, Yun cheung, Congee, Chaozhou Organizations: CNN, Adobe, Adobe Stock Locations: China, Peking, Nanjing, Beijing, Govan, –, Sichuan, Hunan, Shandong province, Fujian, Hainan, Malaysia, Pidu, It’s, Tianjin, Chen, Shunde district, Shaanxi, Fuding county, Ningbo

☆ Some German Burger King restaurants served out-of-date bacon, had mouse infestations, and sold vegan burgers contaminated by meat, according to an undercover investigation
▼ + stars: | 2022-10-10 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

German TV show "Team Wallraff" released an undercover investigation into Burger King in the country. Stale burger buns, including some a week past their expiry date, were also served partially toasted, so that customers wouldn't notice, the undercover reporter said. Burger King Deutschland said in a lengthy statement that it took the accusations "very seriously" per an Insider translation. A former worker at a Burger King restaurant in Cologne told the show that their store was plagued by mice. The only thing missing was the Burger King uniforms," the former worker said, adding that: "They were definitely more than us [people]."

☆ Chinese stocks likely to do relatively well next year, says portfolio manager
▼ + stars: | 2022-09-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChinese stocks likely to do relatively well next year, says portfolio managerJun Bei Liu of Tribeca Investment Partners says it expects China's economic recovery to begin next year, though exports will be "a little bit tougher."

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