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☆ The fall of Gucci was inevitable
▼ + stars: | 2024-05-03 | by ( Madeline Berg | ) www.businessinsider.com time to read: +13 min

"We got used to hearing about double-digit growth at Gucci," Fflur Roberts, the head of luxury goods at Euromonitor, told Business Insider. "I think of what a fashion editor is wearing — it's not Gucci," Lindsey Solomon, a fashion publicist, told BI. After taking the top spot on the Lyst Index of fashion's hottest brands in 2022, Gucci dropped to number 11 last quarter. "We still believe the Gucci brand's current growth rate, which is 10 times higher than that of the industry, represents a risk going forward," Morningstar's Sokolova wrote in a 2017 note. Gucci relied heavily on China for its growth, but stores — perhaps including this one in China's Hainan Province — have struggled recently.

Persons: Alessandro Michele's, loafers, Gigi Hadid, Sienna Miller, Steve Madden, ASOS, Sally Singer, Michele, Fflur Roberts, Alessandro Michele, Harry Styles, Billie Eilish, Jared Leto, Kevin Mazur, Bauer, Griffin, Jeff Kravitz, Gucci, Sabato De Sarno, Lindsey Solomon, De Sarno, François, Henri Pinault, China —, Jelena Sokolova, Solomon, Daniele Venturelli, Michele —, Sokolova, It's, Thomas Chauvet, Morningstar's Sokolova, Michele's Gucci, wasn't, Jeremy Moeller, Chauvet, Roberts, Chanel, Gucci's, Gucci hadn't, Hermès, Birkin, Louis Vuitton's Neverfull, Pinault, Louis, Euromonitor's Roberts Organizations: Creative, Gucci, The Recording Academy, Axelle, Morningstar, BI, Citi, Disney, Getty, Revenue, China News Service, Bain, Louis Vuitton Locations: Euromonitor, China, The Asia, Pacific, China's Hainan Province, Asia

☆ China’s Chang’e-6 moon probe stands by for launch as space race with US heats up
▼ + stars: | 2024-05-02 | by ( Simone Mccarthy | Marc Stewart | ) edition.cnn.com time to read: +6 min

China’s planned 53-day mission would see the Chang’e-6 lander touch down in a gaping crater on the moon’s far side, which never faces Earth. China became the first and only country to land on the moon’s far side during its 2019 Chang’e-4 mission. Ambitious missionThe Chang’e-6 probe will be a key test for China’s space capabilities in its effort to realize leader Xi Jinping’s “eternal dream” of building the country into a space power. This time, to communicate with Earth from the moon’s far side, Chang’e-6 must rely on the Queqiao-2 satellite, launched into lunar orbit in March. This time, China has said the Chang’e-6 mission will carry scientific instruments or payloads from France, Italy, Pakistan and the European Space Agency.

Persons: China’s, “, Ge Ping, Xi Jinping’s, James Head, Luo Yunfei, Bill Nelson, –, ” Nelson Organizations: Hong Kong CNN, China, Space Administration’s, of Lunar Exploration, Space Engineering, Brown University, China News Service, Luna, NASA, European Space Agency Locations: China, Hong Kong, Hainan, United States, Russia, Chang’e, India, Japan, Texas, France, Italy, Pakistan

☆ Labor Day isn’t the holiday it once was for China’s workers
▼ + stars: | 2024-04-30 | by ( Chris Lau | Hassan Tayir | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —Like hundreds of millions of workers in China, Hao Zeyu, an algorithm engineer at an electric vehicle maker, is getting five days off this week for the Labor Day holiday. So, why has a decades-old policy caused so much upset in a country whose Communist Party leadership pays annual homage to International Workers’ Day? Trending topicIn recent weeks, complaints about this year’s Labor Day leave arrangements have exploded on Chinese social media. Tourists visit the Qiansimen Jialing River Bridge during the May Day holiday on May 1, 2023 in Chongqing, China. Labor Day isn’t the only holiday to get the adjusted rest policy.

Persons: Hao Zeyu, Hao, “, ” Hao, ”, Yao, Max Teng, it’s, Yaer Tuerdi, Pang Dong Lai, Yu Donglai, Yu, Teng Organizations: Hong Kong CNN, Labor, CNN, Communist Party, International Workers, Workers, Weibo, Tourists, China News Service, University of Wellington, “ Workers Locations: China, Hong Kong, Chongqing, United States, United Kingdom, Kentucky, Henan

☆ Geely-backed luxury EV brand Zeekr says it's already beating Tesla in parts of China
▼ + stars: | 2024-04-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Pictured here is the Zeekr 001 electric car at a services trade fair in Beijing on Aug. 31, 2023. China News Service | China News Service | Getty ImagesBEIJING — Chinese electric car brand Zeekr is selling more vehicles than Tesla in parts of China, and plans to expand in Europe and Latin America this year, Zeekr CEO Andy An told CNBC on Wednesday. For the first three weeks of April, Zeekr sold 500 more cars than Tesla in the province of Zhejiang, where Zeekr and its parent company Geely are based. Zeekr also slightly outsold Tesla in the province of Anhui, near Shanghai, and Guangxi, an autonomous region in southern China. The rapid rise of Chinese electric car companies, however, has also prompted the EU and U.S. to consider measures for protecting their own auto industries.

Persons: Andy, Elon, Tesla, Zeekr Organizations: China News Service, Getty, CNBC, EU Locations: Beijing, BEIJING, China, Europe, Latin America, Zhejiang, Anhui, Shanghai, Guangxi, Sweden, Netherlands, America, Hong Kong, Macao, Singapore

☆ China's Xi meets U.S. executives as businesses navigate bilateral tensions
▼ + stars: | 2024-03-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +8 min

The forum this year coincided with other efforts to attract foreign business. However, a combination of geopolitical tensions, regulatory uncertainty and slower economic growth have made it more challenging for foreign businesses in China. ... foreign companies share the same lack of confidence and worries about an uncertain future that is felt amongst much of China's domestic industry. Looking for economic clarityFor businesses considering China investment plans, the country's near-term growth outlook is another factor. He emphasized China's large market, industrial supply chain, and pointed out how China has worked on issues such as data exports and equal market treatment for foreign businesses.

Persons: Tim Cook, Management Dean Bai Chong, Xi Jinping, Stephen Schwarzman, Cristiano Amon, Mark Carney, Rajesh Subramaniam, Joe Biden, Carlos Gutierrez, Sean Stein, Gutierrez, Biden, Scott Kennedy, Peter Bachmann, Bachmann, Kennedy, Stephen S, Roach, Yale Law School's Paul Tsai, he's, China's, Han Zheng, Amin H, Nasser Organizations: Apple, China Development Forum, Tsinghua University School of Economics, Management, China News Service, Getty, U.S . Blackstone, Qualcomm, Bloomberg, FedEx, China, Cyberspace Administration, U.S, American Chamber of Commerce, of Commerce, Scott, Scott Kennedy Center for Strategic, Studies, China Centre, University of Applied Sciences, Arts Northwestern Switzerland, Center for Strategic, International Studies, Yale Law, Yale Law School's Paul Tsai China, Communist Party, Invest, CNBC, Aramco Locations: China, BEIJING, U.S, San Francisco, Beijing, Shanghai, Washington ,, Saudi

☆ Article 23: Hong Kong passes second national security law aligning city more closely with mainland China
▼ + stars: | 2024-03-19 | by ( Chris Lau | ) edition.cnn.com time to read: +6 min

Coming into effect on Saturday, the law introduces 39 new national security crimes, adding to an already powerful national security law that was directly imposed by Beijing on Hong Kong in 2020 after huge and sometimes violent democracy protests the year before. Hong Kong’s Chief Executive Lee described it as a “historical moment for Hong Kong.”Lawmakers attend a meeting for Basic Law Article 23 legislation at the Legislative Council on March 19, 2024 in Hong Kong, China. They argue their legislation is similar to other national security laws around the world. “This will surely increase the doubt, anxiety, and uncertainty of foreign businesses in Hong Kong.”In mainland China, national security laws have often ensnared both local and foreign businesses in opaque investigations. That is something Emily Lau, a former pro-democracy lawmaker, also worries about, that what made Hong Kong distinct is fast fading.

Persons: –, John Lee, Hong, Lee, Chen Yongnuo, ”, Hong Kong’s, Eric Lai, Lai, ” Lai, Hung Ho, fung, Capvision, Sarah Brooks, “, ” Brooks, ” Johannes Hack, Emily Lau, I’ve Organizations: Hong Kong CNN, Hong, ” Lawmakers, Legislative, China News Service, China’s Communist Party, CNN, Georgetown Center, Asian Law, Johns Hopkins University, Amnesty International, German Chamber of Commerce, Hong Kong Locations: Hong Kong, Hong Kong’s, Beijing, China, Amnesty International China, ”, Hong

☆ China's richest man is under fire over conspiracy theories that say he's secretly promoting Japan
▼ + stars: | 2024-03-15 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

China's richest man is being targeted by nationalists who say he's not patriotic enough. AdvertisementZhong Shanshan, the richest man in China, has been beset this month by accusations from an online nationalist crowd that he isn't loyal enough to his country. Some think Nongfu Spring loves JapanThe hostility escalated this week into claims that Nongfu Spring was intentionally planting elements of Japanese culture into its product marketing. CFOTO/Future Publishing via Getty Images and Jinhee Lee/NurPhoto via Getty ImagesAnother complaint accused Nongfu Spring of using a red bottle cap that resembles the Japanese flag. China's nationalist groups have been notorious for turning on typically celebrated figures and businessmen.

Persons: Zhong Shanshan, Zong Qinghou, —, Zhong, he's, Zong, Zhong Shuzi, Jinhee Lee, NurPhoto, Mr Zong, Hu Xijin, shouldn't, Hu, Li Guoqing, Li, Zong Fuli, Mo Yan Organizations: Service, Nongfu, Hong, Hangzhou Wahaha, Hangzhou Wahaha Group, Getty Images, Weibo, Mount, Publishing, Getty, Global Times, The Global Times, Rongsheng Petrochemical, China Newsweek, China News Service, Business Locations: Japan, China, Hong Kong, Hangzhou, Zhejiang Province, American, Tokyo, Mount Fuji

☆ Asia markets set to fall after hot U.S. inflation report; first estimates from Japan's wage negotiations expected
▼ + stars: | 2024-03-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A man walks past the People's Bank of China (PBOC) building on July 20, 2023 in Beijing, China. (Photo by Jiang Qiming/China News Service/VCG via Getty Images China News Service | China News Service | Getty ImagesAsia-Pacific markets were set to fall after producer prices in the U.S. grew faster than expected in February, coming in at 0.6% last month. Excluding food and energy prices, core PPI climbed 0.3% in February. Economists polled by Dow Jones had expected a 0.3% gain for headline PPI and a 0.2% increase for the core reading. Investors in Asia will be watching out for any news from Japan's spring wage negotiations, with first estimates expected to come out later in the day.

Persons: Jiang Qiming, Dow Jones Organizations: People's Bank of China, China News Service, Getty Images China, Service, Getty, PPI, Nikkei, People's Bank of Locations: Beijing, China, Asia, Pacific, U.S, Chicago, Osaka, People's Bank of China, Australia

☆ Wall Street shrugs off the inflation report — plus, updates from a key health-care stock
▼ + stars: | 2024-03-12 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

GE Healthcare updates: GE Healthcare CFO Jay Saccaro spoke at Oppenheimer's annual Healthcare MedTech & Services conference. Saccaro expects GE Healthcare to commence stock buybacks at some point, but that's still down the road. GE Healthcare shares fell about 1% Tuesday, but the move doesn't seem tied to the presentation. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jay Saccaro, Saccaro, that's, Jim Cramer's, Jim, Yi Haifei Organizations: CNBC, Oracle, Nvidia, Nasdaq, GE Healthcare, GE, Services, U.S, Jim Cramer's Charitable Trust, Jim Cramer's Charitable, Fair for Trade, China National Convention Center, China News Service, Getty Locations: China, Williams, Sonoma, Beijing

☆ China doubles down on manufacturing, leaving real estate behind
▼ + stars: | 2024-03-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

China News Service | China News Service | Getty ImagesBEIJING — China revealed this week it aims to spend more than a billion dollars to bolster manufacturing and domestic tech in a bid to remain globally competitive, while divulging little new support for the struggling real estate market. Industrial support clearly ranked first on Beijing's priority list for the year ahead, according to three major plans released this week as part of China's annual parliamentary meetings. Chinese authorities in 2020 intensified a crackdown on real estate developers' high reliance on debt for growth. Within that second priority, the finance ministry said it would allocate 31.3 billion yuan for improving vocational education. The government work report presented by Premier Li Qiang gave real estate a similar level of prominence.

Persons: Frederic Neumann, Li Qiang Organizations: Seres, China News Service, Getty, Ministry of Finance, HSBC, UBS, National Development, Reform Commission Locations: Chongqing, China, BEIJING, Asia, Beijing, U.S

☆ Mount Everest is now a trash-filled, overcrowded tourist spot, says the last living member of Edmund Hillary's team
▼ + stars: | 2024-03-02 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +5 min

A 35-member team helped Edmund Hillary and his sherpa reach the top of Mount Everest in 1953. Kanchha told AP that Mount Everest is now "very dirty" and being disrespected by climbers. At 29,032 feet, Mount Everest is considered the highest point on Earth and attracts a plethora of tourists. Mount Everest remains one of the most popular tourist spots in the world, but it doesn't come without risks. More than 310 people have died climbing Mount Everest since explorations first launched in the 1900s.

Persons: Edmund Hillary, Kanchha, —, Kanchha Sherpa, Niranjan Shrestha, Tenzing, ROBIC UPADHAYAY, there's, Mount Everest, Sherpas, FVAZrnDSwI, Nirmal Purja, X Organizations: Mount, Kanchha, AP, Service, Associated Press, China News Service, Twitter, New York Times, Times Locations: Everest, Mount Everest, New Zealand, Mount

☆ Chinese zodiac fortune predictions for 2024
▼ + stars: | 2024-02-09 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +19 min

Natalie Leung/CNN, Adobe StockMonkeys are going to have a relatively stable year. Natalie Leung/CNN, Adobe Stock“This year, you may have to work a bit harder and work longer hours than usual. Natalie Leung/CNN, Adobe Stock“It isn’t the worst year but there are going to be some challenges. Natalie Leung/CNN, Adobe Stock“According to ancient Chinese philosophy, Tigers and Dragons have a complicated relationship. Natalie Leung/CNN, Adobe StockAll you Rabbits can give yourself a pat on the back.

Persons: Hong Kong CNN —, There’s, ”, Chen, “, Thierry Chow, CNN Chow, floristry, “ It’s, Chow, Xuan, Duke, Jupiter, Stringer, VCG, Zhang Yu, Ulet Ifansasti, Johanes, NurPhoto, Zhang Cheng, Wu Wenjun, Axel Miranda, Tai Sui –, Tai Sui, Natalie Leung, Ben Ming Nian, “ Let’s, Ben Ming, “ You’ll, Ma Xing, –, it’s, It’s, there’s, ” Chow, Xing Tai Sui Organizations: Hong Kong CNN, CNN, Shui, China News Service, Spring, Reuters Workers, Adobe, Adobe Stock, Adobe Stock People, ”, Roosters, Tiger Tigers, Dragons, Tigers Locations: Hong Kong, Asia, Xuan Kong, Xi'an, Shaanxi Province, China, Beijing, Solo City, Indonesia, Dharmayana, Bali , Indonesia, Guangzhou, China's, Guangdong Province, Barcelona, Spain, Nanchang, Jiangxi Province

☆ China gears up to ring in Year of the Dragon with expected record 9 billion trips
▼ + stars: | 2024-02-09 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +6 min

Authorities last month forecast that China’s population of 1.4 billion would take a record 9 billion trips during the 40-day holiday travel period, which began on January 26. Stringer/VCG/Getty Images A man takes photos of blooming plum blossoms at the Summer Palace in Beijing, China on February 5. Johanes P. Christo/NurPhoto/AP Crowds flock to the Spring Festival Light Show in Xi'an, Shaanxi Province, China on February 3. Axel Miranda/SOPA Images/Sipa/Reuters Workers assemble dragon lanterns at a production workshop in Nanchang, Jiangxi Province, China on January 24. Two major indexes recorded their worst drops in years capping off a dire 2023 that saw China’s stock markets become the world’s worst performer.

Persons: ”, Luo, Stringer, VCG, Zhang Yu, Ulet Ifansasti, Johanes, NurPhoto, Zhang Cheng, Wu Wenjun, Axel Miranda, Xi Jinping, ” Xi Organizations: Hong Kong CNN —, Festival, CNN, Authorities, China News Service, Spring, Reuters Workers, HSBC, Beijing, United States Embassy Locations: Hong Kong, China, Beijing, Fujian, Xi'an, Shaanxi Province, Solo City, Indonesia, Dharmayana, Bali , Indonesia, Guangzhou, China's, Guangdong Province, Barcelona, Spain, Nanchang, Jiangxi Province, Shanghai

☆ Demand for shipments from China via rail through Russia has 'skyrocketed' since the Red Sea attacks
▼ + stars: | 2024-02-01 | by ( Lucy Handley | ) www.cnbc.com time to read: +6 min

And — while it only represents a very small proportion of containers moved between the Far East and Europe — rail routes via Russia have seen an uptick in interest too. Rail through RussiaFirms have raised concerns about sending goods via rail through Russia, Sciglaite said. A train engine pulls carriages that started their journey in Yiwu, China into Barking rail freight terminal on January 18, 2017 in the U.K. Igor Tambaca, managing director of Rail Bridge Cargo, a Dutch logistics company, said China-Europe rail route bookings were up 37% over the past four weeks. Tambaca said the cost of sending one forty-foot container (FEU) from China to Europe via rail is currently around $7,900.

Persons: Liu Wenhua, Julija, RailGate, Hapag Lloyd, Sciglaite, Dan Kitwood, Igor Tambaca, Tambaca, Maria Magdalena Pavitsich, Pavitsich, Vladimir Putin, Davies Turner Organizations: China News Service, Getty, Air, CNBC, Rail, Cargo, OBB Rail Cargo Group, FEU, Initiative, British Locations: China, Europe, Russia, Manzhouli, Vietnam, Xeneta, East, European, Rotterdam, South Africa's, Ukraine, Yiwu, Barking, Kazakhstan, Belarus, Poland, Germany, Belgium, France, Red, Dutch, Turkey, Austrian, Asia, Xian, Chengdu, Suez, Africa, Moscow, Central Siberia, Beijing, Wuhan, Duisburg

☆ The US, Russia and China are in a race to dominate new-wave nuclear energy — and win global influence
▼ + stars: | 2024-02-01 | by ( Angela Dewan | Ella Nilsen | ) edition.cnn.com time to read: +12 min

Russia's floating nuclear power plant, Akademik Lomonosov, leaving the service base Rosatomflot on August 23, 2019. For some experts, nuclear energy — in all forms, large or small — has an important role to play in that transition. Globally, the construction of conventional nuclear power plants dipped following the Chernobyl meltdown in 1986. Russia has already built or designed nuclear plants — the traditional type — for China, India, Bangladesh, Turkey, Slovakia, Egypt and Iran. “It certainly dampens the excitement abroad,” said John Parsons, a senior lecturer at MIT and a financial economist focused on nuclear energy.

Persons: Akademik Lomonosov, Biden, Lomonosov, Maxim Shemetov, “ There’s, ”, Josh Freed, China —, Vladimir Putin’s, Bill Gates ’, Luo Yunfei, Kirsten Cutler, they’re, Cutler, ” Cutler, They’re, John Parsons, John Kerry, Thomas Mukoya, Way’s Freed, “, ” Parsons, Mohammed Hamdaoui, ” Hamdaoui, “ It’s Organizations: CNN, Reuters, European Union, International Energy Agency, Energy, World Nuclear, IEA, US, SMR, US Export, Import Bank, International Development Finance Corporation, GE Hitachi Nuclear Energy, China, Changjiang, China News Service, Nuclear Energy, US State Department, “, MIT, InfluenceMap, The State Department, Nuclear Regulatory Commission, NRC, Rystad Energy Locations: Alaska, Russian, Russia, China, European, Japan, India, South Korea, Europe, Dubai, America, Poland, North Carolina, Southeast Asia, Bangladesh, Turkey, Slovakia, Egypt, Iran, Lomonosov, Siberia, Russia’s, Washington, Bill Gates ’ TerraPower, Wyoming, Changjiang Li Autonomous County, Hainan province, United States, Oregon, Idaho, United Arab Emirates

☆ Fire in China school dorm kills 13 students
▼ + stars: | 2024-01-20 | by ( ) www.cnbc.com time to read: +1 min

The fire broke out on Friday night at Yingcai School in Yanshanpu Village, near Nanyang City in Henan province, China Central Television Station and Xinhua News Agency said. The dead were third graders at an elementary school, according to China Newsweek, a weekly magazine published by China News Service, the second largest Chinese news agency after Xinhua. A fire in a school dormitory in central China killed 13 students and injured another person, Chinese state media reported on Saturday. Yingcai is a private boarding school with a kindergarten and an elementary school, said The Paper, a Shanghai government-backed news outlet. The school gives students a break every two weeks but this was not a break weekend, The Paper said, citing several local residents.

Persons: Yingcai Organizations: Yingcai, China Central Television Station, Xinhua News Agency, China Newsweek, China News Service, Xinhua, Firefighters, Getty Images Locations: Yanshanpu Village, Nanyang City, Henan province, China, CHONGQING, CHINA, Chongqing, Shanghai

☆ The Himalayan mountains are growing — but Tibet could be splitting apart in the process
▼ + stars: | 2024-01-18 | by ( Kelsey Vlamis | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +4 min

As the Indian and Eurasian tectonic plates slowly collide, the Himalayan mountains continue to rise. However a new study suggests the Indian plate may be peeling apart, causing a slab tear. AdvertisementAn eons-long collision that created the Himalayas, the world's tallest mountain range, may also be splitting Tibet apart into two pieces, new research suggests. The edge of the Eurasian plate crumpled upward as India pressed into it, thrusting the Himalayas into existence. But scientists haven't been sure where exactly the Indian plate was going.

Persons: —, Gongga, haven't, Stringer, van Hinsbergen, Utrecht University geodynamicist, Simon Klemperer, it's Organizations: Service, China News Service, Reuters, American Geophysical Union, Utrecht University, Stanford University, Science Locations: Tibet, India, Lhasa, Tibet Autonomous Region, China, Utrecht

☆ China’s youths throng bargain basements as economy bites: ‘The first floor is too expensive’
▼ + stars: | 2023-12-06 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Future Publishing | Future Publishing | Getty ImagesMin Li doesn't go to the mall often. The name of the game for Chinese youth in 2024 is trading down. Anything not in the basement floors is considered to be "in heaven," signaling it's out of reach. Citizens shopping for Mid-Autumn Festival gifts at a shopping mall in Yantai, East China's Shandong province, Sept 25, 2023. (Photo credit should read CFOTO/Future Publishing via Getty Images) Future Publishing | Future Publishing | Getty Images"The name of the game for Chinese youth in 2024 is trading down.

Persons: Min Li doesn't, Gucci, Chanel, Louis Vuitton, She's, Shaun Rein, Rein, Jia Miao, Jia, Chung Chi, Miao Organizations: Future Publishing, Getty, Apple, China Market Research Group, Starbucks, China Market Research, Weibo, Citizens, Publishing, New York University Shanghai, MyCOS Research, NYU Shanghai, Hong Kong Polytechnic University, McKinsey, China's, China News Service Locations: Yantai, East China's Shandong province, Weibo, East China's Shandong, Covid, NYU Shanghai China, Shanghai, Guangzhou

☆ At their annual mega-party, real estate agents on edge over the potential erosion of their commissions
▼ + stars: | 2023-11-16 | by ( Anna Bahney | Samantha Delouya | ) edition.cnn.com time to read: +10 min

Courtesy National Association of RealtorsKasper echoed those sentiments in a keynote address to agents at the convention on Tuesday, telling agents: “We will continue to listen closely to your feedback. Real estate agents generate about $100 billion in commissions a year, according to the Department of Justice. And about half of that, plaintiffs in the recent case argue, goes to buyers’ agents. Visitors at the National Association of Realtors convention on November 14 in Anaheim, California. She said that buyers’ agreements may have to have wording that says that if a seller doesn’t agree to pay the buyer’s agent commission, the buyer is on the hook for that money.

Persons: Keller Williams, Tracy Kasper, Berkshire Hathaway, Silverhawk, ”, ” Tracy Kasper, National Association of Realtors Kasper, Renée Roqué, Alexis McGee, “, Liu Guanguan, John Natale, Natale isn’t, Lynn Madison, Madison, Chuck Simons, “ It’s, Matt Troiani, Troiani, it’s, ” Troiani, ” ‘, Jim Flanagan, Flanagan, isn’t, Nate Johnson, haven’t, Johnson Organizations: California CNN, National Association of Realtors, NAR, of Justice, NXT, Department of Justice, China News Service, Social Media, Realtors, Coldwell, RedKey Realty Locations: Anaheim, California, Missouri, America, Texas, Berkshire, Boise , Idaho, Stevenson Ranch , California, San Mateo County , California, New Jersey, Anaheim , California, Illinois, Valencia , California, Ocean County , New Jersey, Flanagan’s, St, Louis , Missouri

☆ Xi-Biden summit: What’s on the agenda for China’s leader as he heads to California?
▼ + stars: | 2023-11-14 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +10 min

Biden, meanwhile, finds himself strapped with international challenges from the war in Ukraine to the latest conflict in Gaza. Chinese leader Xi Jinping, left, and US President Joe Biden. Getty ImagesXi’s agendaDespite the challenges he faces at home, the insulated Chinese leader may see himself in a stronger position relative to Biden. Xi will ask Biden to clarify and define the scope of the US approach on tech restrictions, analysts say. Liu Ranyang/China News Service/VCG/Getty Images‘Positive signals’The lead-up to Xi’s American visit has been marked with signals that China is hoping to smooth prickly relations.

Persons: — Xi Jinping, Joe Biden —, Xi, Biden, he’d, ”, Yun Sun, Xi Jinping, Joe Biden, …, Suisheng Zhao, Stimson, Sun, Harry Moyer, Liu Ranyang, Zhong Sheng, wisecracks, Nancy Pelosi’s, Beijing’s, Shi Yinhong, Shi Organizations: CNN, Asia Pacific Economic Cooperation, “, China Program, Stimson, Getty, Biden, Center for, Cooperation, University of Denver, Communist Party, US, Taiwan’s Democracy Progressive Party, US Flying Tigers, Kunming Foreign Language School, China News Service, “ Flying Tigers, China’s Renmin University, Republicans Locations: China, Hong Kong, San Fransisco, Bali , Indonesia, Ukraine, Gaza, Washington, Beijing, Center for China, Taiwan, California, Kunming, China's Yunnan, United States, Russia, Iran

☆ High menu prices lift food bills
▼ + stars: | 2023-11-14 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

In the 12 months through October, higher restaurant prices drove food prices above overall inflation, even as grocery prices were relatively low. For the year, grocery prices rose 2.1%, according to Consumer Price Index data released Tuesday by the Bureau of Labor Statistics. But menu prices were up 5.4%, driven largely by a 6.2% rise at limited-service restaurants, which include fast food and fast casual spots. Many fast food and fast casual places say they’ve seen some benefit from customers trading down from pricier options. Grocery prices rose 0.3% and menu prices rose 0.4% in that period.

Persons: Anthony Behar, McDonald’s, Liu Guanguan, Rice Organizations: New, New York CNN, Bureau of Labor Statistics, BLS, McDonald's, AP, China News Service Locations: New York, California

☆ The US Air Force is training to take down Chinese warships, but China's military has built a 'wicked' problem for it to overcome
▼ + stars: | 2023-11-13 | by ( Christopher Woody | ) www.businessinsider.com time to read: +12 min

That's not a new task for the US Air Force, but it faces a 'wicked' threat from China's air defenses. AdvertisementAdvertisementThe US Air Force is working on improving its ability to sink well-defended warships, a reflection of the US military's concern about the growing size and increasing capability of China's navy. US Naval History and Heritage CommandUS pilots have trained to sink warships since the early 1920s, well before the Air Force's founding in 1947. US Air Force A-10s at Naval Air Station North Island in California for Green Flag-West in November 2022. Wilsbach said in September that training by Pacific Air Forces has emphasized "stacking effects" to bring more weapons to bear.

Persons: That's, —, Nancy Pelosi's, Pelosi, Gen, Kenneth Wilsbach, we've, Wilsbach, Sun, Brendan Mulvaney, Mulvaney, eng.chinamil.com.cn, Yang Yunxiang, that's, Mark Kelly, Kelly, hasn't, Lyle Goldstein, TENGKU BAHAR, Goldstein, they've, John Baum, Baum, Zachary Rufus, Col, Daniel Lehoski, William R, Lewis, Lockheed Martin, Lindsey Heflin Organizations: US Air Force, Service, US Pacific Air Forces, an Air and Space Forces Association, China News Service, Getty, China Aerospace Studies Institute, Department of, Air Force, United, and Space Forces Conference, Air Combat Command, Defense, Heritage Command US, Air, Navy, Mitchell Institute for Aerospace Studies, Naval Air Station, Green Flag, West, US Army, Air Force Weapons, Weapons, Flag, Nellis Air Force Base, Nevada ., Pacific, US Navy, Squadron, Force, Missiles, Ship, Lockheed, Command, Lindsey Heflin Air Force, Pacific Air Forces, Army Locations: China, Taiwan, Pacific, United States, Ukraine, Asia, Hong Kong, Liaoning, Shandong, Fujian, Iraq, Afghanistan, California, Nevada

☆ China has a sweeping vision to reshape the world — and countries are listening
▼ + stars: | 2023-11-09 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +23 min

All this coincides with longstanding calls from countries across the developing world for an international system where they have more say. Beijing, he added, sees the US as merely “paying lip service” to the “liberal order” to hurt other countries. Sergei Savostyanov/Sputnik/ReutersIn recent years, even some countries that have for decades embraced a close partnership with the US have drawn closer to China and its vision. “Is China really trying to promote multipolarity — or does China just want to (become a) substitute (for) US influence over the world?” he asked. They also raise questions about how a more militarily and economically powerful China would behave globally, if left unchecked.

Persons: Xi Jinping, —, Xi, Vladimir Putin, General Antonio Guterres, ” Xi, , Shen Hong, they’d, ”, Yun Sun, liberalize, Sanjit Das, Shen Dingli, ‘, ’ ”, Russia’s Putin, Bashar al, Assad —, Assad’s, Sergei Savostyanov, Ali Sarwar Naqvi, “ We’ve, James Marape, ’, Rubens Duarte, Li Zhiquan, “, Tong Zhao, Zhao, Ted Aljibe, Luiz Inácio Lula da Silva, Zhang Youxia, Beijing’s, Gilberto Teodoro Jr, BRICS, Weeks, Joe Biden, Sergio Lima, ” — Organizations: Hong Kong CNN, United Nations, Forum, China, Communist, CNN, Beijing, Washington, Getty, Stimson, Bank, World Trade Organization, . Riot, Bloomberg, Initiative, Asian, Global, Sputnik, Reuters, Center for International Strategic Studies, Papua New Guinea, multipolarity, China News Service, Carnegie Endowment, International Peace, Global Security Initiative, NATO, Russia, Philippine Defense, Shanghai Cooperation Organization, United, New, Seven, Ministry, Global Security, Group, UN, Communist Party Locations: China, Hong Kong, Beijing, United States, Ukraine, Gaza, Russian, Xinhua, Washington, South, Taiwan, Tibet, Xinjiang, America, Shanghai, West, Hangzhou, Israel, Pakistan, Pakistani, Islamabad, Papua New, Brazil, Indonesia, Europe, Asia, Scarborough, South China, AFP, Moscow, Russia, “, Saudi Arabia, Iran, Palestine, India, South Africa, Argentina, Egypt, Ethiopia, United Arab Emirates, New Delhi, Southeast Asia, Latin America, Caribbean, ” Beijing

☆ A rapid clean-energy transition could save 181 million years of healthy human life annually by 2050, report finds
▼ + stars: | 2023-11-08 | by ( Morgan Mcfall-Johnsen | Maiya Focht | ) www.businessinsider.com time to read: +7 min

A rapid transition to green energy sources would prevent a lot of disability and early death, researchers say. In the year 2050 alone, the transition's impact amounts to 181 million future years of healthy human life, a new report found. Add to that list 181 million years of healthy human life — annually. Mohammad Ponir Hossain/ReutersDisability-adjusted life years, or DALYs, capture years of life affected by disability and years lost to premature death. If the world rapidly transitions to renewables, they found, the energy system will still hurt human health enough in 2050 to lead to early death and disability that affects 30 million years of human life.

Persons: Martin Meissner, it's, Stephanie Roe, WWF's, Mohammad Ponir Hossain, Nick Oxford, Dylan Martinez, Jonathan Buonocore, Buonocore, Lyu, Roe Organizations: Service, Wildlife Fund, Boston Consulting, Reuters, American Lung Association . Mines, Harvard, Boston University School of Public Health, WWF, China News Service, Getty, International Energy Agency, Stanford Locations: Haltern, Germany, Dhaka, Bangladesh, Texas, Fujian Province, China

☆ Wu Zunyou, the Face of China’s Covid Controls, Dies at 60
▼ + stars: | 2023-11-02 | by ( Liyan Qi | ) www.wsj.com time to read: 1 min

Wu Zunyou became a household name in China during the Covid-19 pandemic. Photo: China News Service/Imago/Zuma PressWu Zunyou, China’s top epidemiologist, never wanted the spotlight, believing that a successful public-health professional should be “invisible.” His last role, as the face of China’s draconian Covid-19 restrictions, was anything but. In China, the decisions that kept the country in isolation with closed borders and rolling lockdowns for three long years—policies deemed extreme by the global public-health community—were made by the Communist Party leadership. Still, by the time Wu died, on Oct. 27 at the age of 60, he had become the target of much of his countrymen’s anger over China’s pandemic response.

Persons: Wu Zunyou, Wu Organizations: China News, Zuma, Communist Party Locations: China

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