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☆ Europe must avoid ‘disaster’ of trade decoupling as it eyes China tariffs, EU's economics chief says
▼ + stars: | 2024-05-15 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The European Union must avoid a harmful decoupling of global trade as it mulls tariffs on Chinese electric vehicles and other goods, the bloc's economic chief said Wednesday. "But this is not bringing us to a theory of decoupling of global trade, which would be a disaster for both parts of the decoupling," he said. "The characteristic of the EU economy is to be more open, more influenced by trade, and less by only internal consumption. This is the reason, the economic reason, why it is in the interest of the European Union to keep the doors of trade open." Meanwhile, several EU nations are nervous about potential Chinese retaliatory trade measures hitting important domestic industries, from German automotives to French cognac.

Persons: Paolo Gentiloni, CNBC's Silvia Amaro, Gentiloni Organizations: European, European Union, CNBC Locations: European Union, Europe, China, EVs, U.S, Russia, Ukraine

☆ Morgan Stanley says these stocks could win as U.S.-China trade tensions resurface
▼ + stars: | 2024-05-15 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The Biden administration's decision to impose tariffs on $18 billion worth of imports from China could help a handful of stocks break out, according to Morgan Stanley. Stocks that are poised to benefit include U.S. automakers Ford and General Motors , as well as solar panel manufacturer First Solar . Morgan Stanley maintains an overweight rating on First Solar stock. GM YTD mountain General Motors stock. Morgan Stanley maintains an overweight rating on both Ford and GM.

Persons: Morgan Stanley, Laura Sanchez, Sanchez Organizations: Biden, White, U.S, Ford, General Motors, Wall, Department of Commerce and International Trade Commission, GM Locations: China, Cambodia, Malaysia, Thailand, Vietnam

☆ China vows to take ‘all necessary actions’ in response to Biden’s tariffs
▼ + stars: | 2024-05-14 | by ( Wayne Chang | Mark Thompson | ) edition.cnn.com time to read: +2 min

Taipei/London CNN —Beijing says it will take “all necessary actions” to protect its rights as US President Joe Biden announced huge tariffs on imports of electric vehicles and other goods from China. “China opposes the unilateral imposition of tariffs which violate (World Trade Organization) rules, and will take all necessary actions to protect its legitimate rights,” Chinese foreign ministry spokesperson Wang Wenbin told reporters Tuesday in a regular press briefing shortly before the widely anticipated White House announcement. In addition to Chinese EVs, the increase in US tariffs will apply to imports of steel and aluminum, legacy semiconductors, battery components, critical minerals, solar cells, cranes and medical products. The new tariff for solar components will be 50%, while the remainder of the targeted imports will attract tariffs of 25%. Leaders from the Group of Seven developed economies will discuss how to protect their industries at a summit next month.

Persons: London CNN —, Joe Biden, Wang Wenbin, Biden, Wang, ”, ” Wang Organizations: London CNN, Trade Organization, European Locations: Taipei, London, London CNN — Beijing, China, United States, Europe, Beijing

☆ Biden announces a 100% tariff on Chinese EVs
▼ + stars: | 2024-05-14 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

The White House has announced it will impose tariffs on $18 billion worth of Chinese goods. The new measures target Chinese EVs, with tariffs rising from 25% to 100%. It comes as fears grow that a wave of cheap Chinese EVs could upend the US market. AdvertisementJoe Biden has hiked tariffs on Chinese electric cars as he looks to protect the US auto industry from a wave of cheap Chinese EVs. The White House announced early Tuesday that it was imposing tariffs on $18 billion worth of Chinese goods, including a 100% tax on Chinese-made electric cars.

Persons: —, Joe Biden Organizations: Service, White House, Business

☆ Cramer says Ford and General Motors are big winners after Biden raises tariffs on Chinese imports
▼ + stars: | 2024-05-14 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

"Not only does this tariff protect American car companies from cheap Chinese electric vehicles, it also means that their regular vehicles — their regular cars and trucks and hybrids — will benefit, too," he said. But with Biden increasing tariffs on Chinese electric vehicles from 25% to 100% this year, automakers like Ford and General Motors have less to worry about. Biden will also raise tariffs on semiconductors, solar cells, masks and medical gloves as well as issue first-time tariffs on medical needles on syringes. Cramer also said Ford shares can go higher if the company can "curtail the immense losses in electric vehicles," which will be easier to do with these new tariffs. "The chief reason GM and Ford stocks sell at the bottom of the S&P 500 barrel is because of this existential Chinese threat," he said.

Persons: CNBC's Jim Cramer, Cramer, Biden, Becton Dickinson, Ford, China's Organizations: Biden, Ford, GM, General Motors, Texas Instruments, Owens, Minor

☆ Biden to increase tariffs on $18 billion in Chinese imports in a new warning to Beijing
▼ + stars: | 2024-05-14 | by ( Kayla Tausche | ) edition.cnn.com time to read: +5 min

Washington CNN —President Joe Biden is increasing tariffs on $18 billion in Chinese imports across a handful of sectors deemed strategic to national security – an attempt to cripple Beijing’s development of critical technologies and instead prioritize US production. The increases will apply to imported steel and aluminum, legacy semiconductors, electric vehicles, battery components, critical minerals, solar cells, cranes and medical products. That same trade law also requires the effectiveness of such tariff programs to be evaluated every four years, and the Biden administration decision is the result of that study. “China can’t be the only country that produces clean technology for the world we need,” a senior administration official said. The Chinese government, Biden argued, is providing state money to Chinese steel companies to make more steel than the economy demands, pushing down the price and making it impossible for other companies to compete.

Persons: Joe Biden, “, ”, Lael Brainard, “ China’s, Donald Trump, Biden, Wang Wenbin, Trump, Janet Yellen, Antony Blinken, “ They’re, ” Biden, Sam Fossum Organizations: Washington CNN, White, National Economic Council, CNN, Biden, Trade Organization, Brookings Institute, United Steelworkers, Trump, China’s Ministry, Commerce Locations: China, Beijing, Europe, Brazil, Turkey, Pittsburgh, Midwest

☆ Biden Will Raise Tariffs on Chinese Electric Vehicles, Chips and Other Goods
▼ + stars: | 2024-05-14 | by ( Jim Tankersley | ) www.nytimes.com time to read: +1 min

President Biden will announce on Tuesday that he is raising tariffs on an array of Chinese imports, including electric vehicles, solar cells, semiconductors and advanced batteries, in what he calls an effort to protect strategic American industries from a new wave of competitors that are unfairly subsidized by Beijing. The president will also officially endorse maintaining tariffs on more than $300 billion worth of Chinese goods that were put in place by President Donald J. Trump. Mr. Biden criticized those tariffs as taxes on American consumers during his 2020 run for the White House. Mr. Biden’s moves are the latest trade-war escalation from a president who initially pledged to repeal at least some of the Trump tariffs but now refuses to cede any ground to his rival in a tough-on-China appeal to swing voters in the industrial Midwest and beyond. They also reflect Mr. Biden’s efforts to build on Mr. Trump’s consensus-defying trade confrontation with China while focusing it on sectors of strategic importance to the United States, like clean energy and semiconductors.

Persons: Biden, Donald J, Trump, Biden’s Organizations: White Locations: Beijing, China, United States

☆ Biden raises tariffs on $18 billion of Chinese imports: EVs, solar panels, batteries and more
▼ + stars: | 2024-05-14 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden meets Chinese President Xi Jinping on the sidelines of the G-20 leaders' summit in Bali, Indonesia, on Nov. 14, 2022. The Biden administration announced stiff new tariff rates Tuesday on $18 billion worth of Chinese imports. Starting this year, President Joe Biden will quadruple tariffs on imported Chinese electric vehicles, from 25% to 100%. And tariffs on some Chinese steel and aluminum imports will increase more than three-fold, from 7.5% today up to 25%. First-time tariffs will be imposed on Chinese imports of medical needles and syringes, as well as massive ship-to-shore cranes, the White House said in a fact sheet.

Persons: Joe Biden, Xi Jinping, Biden, Katherine Tai Organizations: . Trade Locations: Bali , Indonesia, China

The restrictions build on Trump-era measures, and many are likely to appeal to voters in battleground states ahead of the election. But it’s less clear if they are enough to rebuild America’s industrial base in a global race with China to lead in the new economy. The new duties will apply to about $18 billion of annual Chinese imports, the Biden administration said. Biden is at pains to say that he’s being smarter than Trump on China. Trump imposed sweeping trade barriers and has vowed to impose more if he’s re-elected.

Persons: Biden, Donald Trump, Trump, he’s Organizations: China, Trump Locations: China, American, U.S

☆ Recursion Pharmaceuticals CEO explains how AI could make drug development faster and less costly
▼ + stars: | 2024-05-10 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

In a Friday interview with CNBC's Jim Cramer, Recursion Pharmaceuticals CEO Chris Gibson discussed how his company is using artificial intelligence and machine learning to make the process of developing drugs faster and less expensive. Recursion Pharmaceuticals is a clinical-stage biotech company that received a $50 million investment from Nvidia last summer. "I think with clinical trials, there's still going to be a few years to get through the clinical trial space," Gibson said. Before Recursion's AI-focused approach, there wasn't a clear path toward making a drug to successfully tackle this disease, he said. "Think of it as, like, Google Street View driving around taking pictures of everything," he said.

Persons: CNBC's Jim Cramer, Chris Gibson, Gibson, there's Organizations: Pharmaceuticals, Nvidia Locations: U.S

☆ Joe Biden is expected to unveil new tariffs on Chinese EVs. Here's what that could mean for the sector.
▼ + stars: | 2024-05-10 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Citing people familiar with the matter, Bloomberg reported that the US government is set to impose new tariffs on a range of Chinese industries, including EVs. Chinese EV producers such as BYD have so far largely avoided the US market due to pre-existing trade barriers, such as a 25% tariff on Chinese auto imports previously touted by President Donald Trump. AdvertisementRelief for US firmsThe expected decision to target China's EV exports would come as a relief to US EV companies. Tesla CEO Elon Musk said earlier this year that Chinese EV firms would "demolish" their Western rivals if trade barriers weren't put in place.

Persons: —, Joe Biden, Donald Trump, he's, Elon Musk, Trump Organizations: Service, Bloomberg, Business, Reuters, EV, Chery Locations: Mexico

☆ Xi wants to boost trade and investment between Europe and China. It won't be easy.
▼ + stars: | 2024-05-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

According to the business chamber's survey, just 13% view China as a top investment destination — a record low. EU firms' China operations are 'decoupling' from their headquartersIt's not just the gloomy economy and slowing demand that are weighing on investor confidence. EU firms have also started to "decouple" their operations in China as the number of foreign nationals employed locally falls. It also makes it increasingly difficult for the China operations of the EU firms to get approval from their headquarters. The European business chamber called for "full access to legitimate and trustworthy sources of economic data" in its report.

Persons: —, Xi Jinping, It's, Jens Eskelund Organizations: Service, European Union Chamber of Commerce, Business Locations: Europe, France, Serbia, Hungary, China

☆ The West is freaking out that China is making too much stuff, and it looks like China might be starting to agree
▼ + stars: | 2024-05-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The proposal covers a range of issues, including minimum technical standards and ecological guidelines for battery production. AdvertisementChina's battery production in 2023 alone was already big enough to fill global demand, according to an analysis from BloombergNEF. China's global share of battery manufacturing capacity is expected to fallDespite the West's consternation, there is an upside for the bloc. China's global share of battery manufacturing is expected to decline in the years ahead, according to a report from the International Energy Agency, or IEA, published on Monday. AdvertisementChina now accounts for more than 80% of battery manufacturing capacity, followed by the US and the EU with around 5% each, per the IEA.

Persons: China's, —, Xi Jinping's, Louise Loo, Loo, Chim Lee, Lee Organizations: Service, China's Ministry of Industry, Information Technology, European Union, Oxford Economics, Economist Intelligence, International Energy Agency, US, EU Locations: China, Beijing, Canada, Europe, India

☆ Google Unveils A.I. for Predicting Behavior of Human Molecules
▼ + stars: | 2024-05-08 | by ( Cade Metz | More About Cade Metz | ) www.nytimes.com time to read: +1 min

Artificial intelligence is giving machines the power to generate videos, write computer code and even carry on a conversation. It is also accelerating efforts to understand the human body and fight disease. An early version of AlphaFold, released in 2020, solved a puzzle that had bedeviled scientists for more than 50 years. It was called “the protein folding problem.”Proteins are the microscopic molecules that drive the behavior of all living things. These molecules begin as strings of chemical compounds before twisting and folding into three-dimensional shapes that define how they interact with other microscopic mechanisms in the body.

Organizations: Google

☆ Dementia cases are on the rise — avoid these 12 risks to keep your brain healthy
▼ + stars: | 2024-05-08 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +5 min

Halfpoint Images | Moment | Getty ImagesA global mental health crisis is on the horizon — dementia. While a healthy body can mitigate dementia risks, a healthy mind is no less important. "We do know [that] people who have cumulative mental health symptoms during their lifetime, actually [have] an increased risk of dementia," said Singham. "If we see symptomatic improvement [to one's mental health] throughout the life course, then that can decrease your chances of having dementia eventually." "The other thing I would encourage young people to do is have a very disciplined, good sleep hygiene because our brains really really need to rest," Ng said.

Persons: Timothy Singham, Singham, Ng Ai Ling, " Ng Organizations: World Health Organization, WHO, National University of Singapore, CNBC, Community Services

☆ This popular cat breed has a much shorter lifespan than others, new research shows
▼ + stars: | 2024-05-08 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

Before you head to the shelter, take heed – not all cat breeds are in it for the long haul. While domestic cats regularly live to 18 years old, the hairless Sphynx breed has an average life expectancy of just 6.8 years, the lowest of any domestic breed of cat, according to new research. Sphynx cats are a hairless breed that originated in Ontario, Canada, where a hairless male kitten named Prune was born in 1966, according to the Sphynx Cat Association. The average life expectancy for domestic cats in Britain was 11.7 years. They found that the average life expectancy for cats in the UK was 11.7 years, and female cats could expect to live 1.33 years longer than males.

Persons: –, Kendy Teng, we’re Organizations: CNN, Royal Veterinary College, Chung Hsing University, of Feline Medicine, Cat Association, Animal Welfare Locations: United Kingdom, Taiwan, Ontario, Canada, Britain

☆ Bank stocks seem poised for a breakout, according to the charts
▼ + stars: | 2024-05-08 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +4 min

Bank stocks have been in comeback mode since making a key low post the regional bank crisis in 2023. A new breakout could be on the horizon, according to the charts. Two of the most popular bank ETFs are the SPDR S & P Regional Banking ETF (KRE) and the SPDR S & P Bank ETF (KBE) . Both are lagging the S & P 500 in 2024, which is +8.2% YTD. The bottom line is that both KRE and KBE have been forming bullish patterns, and we could see breakout attempts soon.

Persons: KRE, it's, Frank Cappelleri Organizations: JPMorgan, Regional Banking, P Bank ETF

☆ Gov. Ron DeSantis Is Banning Lab-Grown Meat - The New York Times
▼ + stars: | 2024-05-06 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

And at the moment, lab-grown meat isn’t commercially available and probably won’t be for a long time, if ever. Still, if and when lab-grown meat, also sometimes referred to as cultured meat, makes it onto the market at less than outrageous prices, a significant number of people will probably buy it. And it’s at least possible that lab-grown meat will eventually be cheaper than meat from animals. And if some people choose to consume lab-grown meat, why not? Recently DeSantis, back to work as governor of Florida after the spectacular failure of his presidential campaign, signed a bill banning the production or sale of lab-grown meat in his state.

Persons: Ron DeSantis, DeSantis Locations: Florida

☆ Experimental gene therapy restores some vision in patients with inherited blindness
▼ + stars: | 2024-05-06 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +16 min

“Now, post-surgery and post recovery, I am able to see in dimmer lighting with my left eye,” Cook said. A treatment that used CRISPR was found to be safe and efficacious in improving vision among a small sample of patients with inherited blindness in the Phase 1/2 clinical trial that Cook participated in. Months following the treatment, Cook was sitting with friends on a balcony that had Christmas lights wrapped around the railing. Courtesy Olivia CookBefore the treatment, Cook said that she sometimes could conceal the vision challenges she has had. Mass Eye and EarKalberer described the CRISPR treatment as “groundbreaking,” but warned it’s not a cure.

Persons: Olivia Cook, Cook, ”, ” Cook, “, I’ve, “ I’d, you’d, CRISPR, Eric Pierce, Brigham, “ We’re, ” Pierce, Jason Comander, ‘, Michael Kalberer, Kalberer, it’s, “ It’s, It’s, Pierce, Editas, We’re, Art Caplan, ” Caplan, —, Vlad Diaconita, ” Diaconita, Dr, Sanjay Gupta, Aliaa Abdelhakim Organizations: CNN, Missouri State University, New England, of Medicine, Mass, Harvard Medical School, Editas Medicine, Perelman School of Medicine, University of Pennsylvania, University of Michigan, University of Miami, Oregon Health & Science University, US Food and Drug Administration, CEP290, pharma, NYU Grossman School, Medicine’s Department of Population Health, Columbia University Vagelos College of Physicians and Surgeons, CNN Health Locations: Springfield, United States, CEP290

☆ Generative AI will be designing new drugs all on its own in the near future
▼ + stars: | 2024-05-05 | by ( Trevor Laurence Jockims | ) www.cnbc.com time to read: +12 min

An analogy for understanding the development of AI drugs can be found in the mechanisms of ChatGPT. As a result, it's a drug discovery process that has a 90% failure rate. Some of the noted flaws of generative AI, its propensity to "hallucinate" for example, could prove to be powerful in drug discovery. AI is learning to distinguish drugs from non-drugs, and to create new drugs, in the same way that ChatGPT can create sentences, Ellington said. Now, AI models are helping narrow down the possibilities, so scientists more quickly know the optimal modifications to try.

Persons: ChatGPT, Kimberly Powell, Google's, —, AlphaFold, Powell, Rau, Lilly, Eli Lilly, Diogo Rau, It's, Amgen, Andy Ellington, Ellington, Daniel Diaz, Diaz, We've Organizations: Nvidia, CNBC Technology, Summit, University of Texas, Austin, NVIDIA, biosciences, UT's Institute, Foundations of Machine, Cadence Locations: Nature

☆ A personal trainer shared the 2 popular fitness supplements that she would never take
▼ + stars: | 2024-05-04 | by ( Rachel Hosie | ) www.businessinsider.com time to read: +4 min

Read previewPersonal trainer Hayley Madigan knows that certain supplements can help her feel and perform at her best. AdvertisementMadigan, who's based in Portsmouth, UK, told Business Insider why she avoids products including energy drinks and pre-workout supplements. Madigan avoids energy drinks and pre-workout supplementsIt's not uncommon to see people going into the gym sipping energy and pre-workout drinks, but not everyone gets on well with them. Madigan is not the only personal trainer to have stopped taking pre-workout supplements. "I prefer to add in more 'real food' as opposed to having too many artificial supplements throughout the day."

Persons: —, Hayley Madigan, Madigan, who's, Luke Worthington Organizations: Service, American Medical Association, Business, B12 Locations: Portsmouth, UK

☆ Biden Appeals to North Carolina With Program to Replace Lead Pipes
▼ + stars: | 2024-05-02 | by ( Peter Baker | More About Peter Baker | ) www.nytimes.com time to read: +1 min

President Biden traveled on Thursday to North Carolina, a possible swing state in the fall election, to promote his efforts to replace toxic lead pipes as part of his administration’s program to expand and upgrade the nation’s network of roads, airports and other critical infrastructure. “Until the United States of America, God love us, deals with this, how can we say we’re a leading nation in the world?” he told a crowd of supporters at the Wilmington Convention Center. “For God’s sake, we’re better than this.”Mr. Biden has committed to replacing all lead pipes across the nation within a decade. Lead exposure can affect brain development in children, damage kidneys and interfere with the production of red blood cells that carry oxygen. The administration estimates that more than nine million homes, schools, day care centers and businesses still receive water through lead pipes, particularly in communities of marginalized people.

Persons: Biden, Mr Organizations: Wilmington Convention Locations: North Carolina, Wilmington, United States of America

☆ Japan’s ‘Moon Sniper’ returns images after third long, lunar night
▼ + stars: | 2024-05-02 | by ( Ashley Strickland | ) edition.cnn.com time to read: +10 min

Temperatures during the lunar night can plunge to minus 208 degrees Fahrenheit (minus 133 degrees Celsius), according to NASA. And Moon Sniper wasn’t expected to withstand even one lunar night, which is a period of darkness on the moon lasting about two weeks. Riding out the lunar nightThe mission team communicated with Moon Sniper on April 23 after the lander rode out its third lunar night. From JAXAIn addition to surviving the extreme cold of the lunar night, Moon Sniper has also endured the searing temperatures of the lunar day, which can reach 250 degrees Fahrenheit (121 degrees Celsius), according to NASA. On February 29, after seven days of operating, Odie went to sleep because it wasn’t intended to survive the lunar night.

Persons: CNN —, Smart, SLIM, ’, Moon, ”, Odysseus, Odie ”, Odie, “ Odie, Jack Fischer, Fischer, ” Fischer, “, I’m, Vikram, Artemis, Noah Petro, Artemis III, ” Petro Organizations: CNN, Japan Aerospace Exploration Agency, NASA, JAXA, Reconnaissance, Artemis, Apollo Locations: Japan, Houston, India, China

☆ A doctor says looking after your gut will take care of your brain and immune system, too. Here are 3 things he does himself, including 'gut gardening.'
▼ + stars: | 2024-05-02 | by ( Kim Schewitz | ) www.businessinsider.com time to read: +5 min

Read previewGrowing research on the trillions of microbes that make up what's known as our gut microbiome is changing the way we think about our bodies. The brain, immune system, and gut appear to be interconnected — suggesting taking care of our gut health is key to both physical and mental health. For instance, the gut microbiome helps to "train" our immune system to distinguish friend from foe to prevent chronic inflammation, Lyman told Business Insider. Related storiesLyman shared three things he does to cultivate a healthy gut microbiome for his mind and body with BI. Gut gardeningLyman finds it helpful to think of his gut microbiome as a garden that needs tending to.

Persons: —, Monty Lyman, Lyman, we've, Kinga Krzeminska, I've Organizations: Service, University of Oxford, Business, Stanford University

☆ Brittney Griner tells ABC that she ‘wanted to take my life more than once’ while detained in Russia
▼ + stars: | 2024-05-02 | by ( Wayne Sterling | George Ramsay | ) edition.cnn.com time to read: +3 min

The US State Department deemed that Griner had been wrongfully detained and she was released in December 2022 in a prisoner swap involving Russian arms dealer Viktor Bout. I felt like leaving here so badly,” Griner said in the ABC interview which aired on Wednesday. I have to endure this.”Griner, a two-time Olympic gold medalist, also said that she was required to write Russian President Vladimir Putin a letter asking for forgiveness. Natalia Kolesnikova/Reuters“They made me write this letter,” said Griner, not specifying who told her to write the letter. The Phoenix Mercury star is entering her 11th WNBA season having returned to the team in May last year.

Persons: CNN — Brittney Griner, ABC’s, Griner, Viktor Bout, “, ” Griner, can’t, ”, Vladimir Putin, Natalia Kolesnikova, Reuters “, Cherelle Organizations: International Association for Suicide Prevention, Befrienders Worldwide, CNN, WNBA, US State Department, Russian, ABC, Reuters, ”, UMMC Ekaterinburg, Phoenix Mercury, Paris Olympics Locations: Russia, Khimki, Moscow, Russian, Paris

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