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☆ YouTube blocks videos of Hong Kong protest song after local court order
▼ + stars: | 2024-05-15 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +3 min

CNN —YouTube has blocked access to a popular protest song in Hong Kong, a week after a court in the city granted a government request to ban the anthem. The ballad contains lyrics that reference the phrase “liberate Hong Kong, revolution of our times,” a protest slogan that was already outlawed in 2020. The Hong Kong government and courts had said the phrase had secessionist and subversive connotations. CNN has reached out to the Hong Kong Department of Justice for comment. Hong Kong was promised key freedoms and autonomy to run its own affairs after it was handed over from British rule to China in 1997.

Persons: We’ll, ”, Hong Kong ”, Jeff Paine, Paul Lam, Hong Kong, Hong Kong’s Organizations: CNN, YouTube, Google, ” CNN, Spotify, Hong, Asia Internet Coalition, Meta, Hong Kong Department of Justice, Hong Kong, “, Volunteers, ”, Hong Kong’s Department of Justice Locations: Hong Kong, Beijing, Hong, China

☆ Hong Kong Court Bans Democracy Song, Calling It a ‘Weapon’
▼ + stars: | 2024-05-08 | by ( Tiffany May | ) www.nytimes.com time to read: +1 min

A Hong Kong court on Wednesday granted a government request to ban a popular pro-democracy anthem, raising further concerns about free speech in the city. The decision, which overturned an initial ruling, could give the government power to force Google and other tech companies to restrict online access to the song in Hong Kong. At issue in the case is “Glory to Hong Kong,” which emerged in 2019 as an unofficial anthem for democracy protests and a flashpoint for the authorities, who considered it an insult to China’s national anthem. The song has been banned from Hong Kong schools and has drawn angry official rebukes when played, apparently by mistake, at international sports events. People convicted of posting seditious content online have gone to prison.

Organizations: Google Locations: Hong Kong, Beijing, British

CNN —The world has passed a clean energy milestone, as a boom in wind and solar meant a record-breaking 30% of the world’s electricity was produced by renewables last year, new data shows. The planet is reaching “a crucial turning point” toward clean energy, according to the Global Electricity Review published Wednesday by climate think tank Ember. Record-breaking renewablesIn 2000, renewables made up less than 19% of the global energy mix. It made up nearly twice as much new electricity generation as coal last year. Electricity demand is set to soar from 2024 onward, Ember’s analysis found.

Persons: It’s, Dave Jones, Ember, ” Jones, “ We’re, Jones, “, ”, Niklas Höhne, Nancy Haegel Organizations: CNN, Global, NewClimate Institute, European Union, EU, National Renewable Energy Laboratory Locations: China, India, Chile, Australia, Netherlands, California, United States

☆ Welcome to ‘the Tepid Twenties’? The US economy’s strength won’t be enough to boost global growth
▼ + stars: | 2024-05-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Invigorating growth is critical: When the economy expands, it improves standards of living, promotes innovation and makes households wealthier. Economic growth in Spain and France was stronger than expected last year. But the US is outperforming mainly for one key reason: Robust productivity growth. Productivity growth came in well below expectations in the first three months of the year, according to Labor Department data released last week. A “course correction” isn’t an even stronger US economy: Economic policymakers around the world need to address a range of key issues.

Persons: ” Kristalina Georgieva, ” Georgieva, ” Stephen Gallagher, Gallagher, “, ”, Hande Atay Alam, Recep Tayyip Erdogan, Israel Katz, John Williams, Neel Kashkari, Lisa Cook, Krispy Kreme, John’s, Austan Goolsbee Organizations: Washington CNN, Monetary, IMF, European Central Bank, Labor Department, Societe Generale, CNN, Reuters, Palantir Technologies, Tyson Foods, Marriott Worldwide, New York Fed, Disney, UBS, Duke Energy, Suncor, Bros, Minneapolis, Toyota, Uber, Anheuser, Busch InBev, Airbnb, Fox Corporation, News Corporation, Duolingo, Icahn Enterprises, New York Times Company, AMC Entertainment, Honda, Warner Bros Discovery, Warner Music Group, Hyatt, Hilton, Bank of England, US Labor Department, United Kingdom’s, National Statistics, University of Michigan, . Chicago Fed, China’s National Bureau of Statistics Locations: Europe, China, United States, Spain, France, Russia, Ukraine, Turkey, Israel, Gaza, Olesya, “ Turkey, Lyft, TripAdvisor

☆ Huawei’s comeback gathers pace as quarterly profit surges
▼ + stars: | 2024-05-01 | by ( ) edition.cnn.com time to read: +2 min

Beijing Reuters —Huawei Technologies’s net profit leapt 564% to 19.65 billion yuan ($2.71 billion) in the first quarter, a regulatory filing by its parent company showed on Tuesday, as it continues to recover from US sanctions. Huawei’s revenue for the quarter to the end of March rose 37% to 178.5 billion yuan, the filing to China’s National Interbank Funding Center showed. It did not break down how business units, such as consumer and smart car components, performed. Apple’s share in the world’s biggest smartphone market fell to 15.7% in the first quarter from 19.7% a year earlier. It has become a force in smart car technology too, with its driver assistance system touted by at least seven Chinese automakers at the Beijing auto show.

Persons: “ digitalization, decarbonization ”, Counterpoint Organizations: Beijing Reuters, Huawei, Apple Locations: Beijing

☆ Zhang Yongzhen: Chinese virologist shared crucial Covid-19 data. Then his research hit hurdles
▼ + stars: | 2024-04-30 | by ( Simone Mccarthy | Yong Xiong | ) edition.cnn.com time to read: +9 min

The ordeal is just the latest hindrance to Zhang’s research since 2020, according to a colleague who has been in contact with the Chinese scientist in recent years. The “institute always respects … and supports scientific researchers and students in carrying out normal research work,” the statement said. The earlier post by Zhang’s students said the two days originally allocated by the center for them to move their scientific work was insufficient. Following the release of the data, Zhang’s lab had limitations placed on it, which barred it from isolating the Covid virus, Holmes said. That included imposing restrictions by April 2020 on the publication of academic research on the origins of the novel coronavirus.

Persons: Zhang Yongzhen’s, Zhang, ”, hadn’t, Hector Retamal, Edward Holmes, Holmes, ” Holmes, “, He’s, Zhang Yongzhen, ” Zhang, “ He’s, It’s, virologist Organizations: Hong Kong CNN —, Shanghai, Health, Weibo, Zhang’s, Chinese Center for Disease Control, CNN, Fudan University, Health Clinical, Getty, World Health Organization, Nature, University, Sydney, CDC, China’s National Health Commission, Oxford University Press, Shanghai Public Health Center, Natural Science Foundation of China Locations: China, Hong Kong, Shanghai, Wuhan, AFP, Beijing

☆ Chinese swimmers head to Paris Olympics under a cloud amid row over handling of drugs tests
▼ + stars: | 2024-04-23 | by ( George Ramsay | ) edition.cnn.com time to read: +5 min

CNN —A dispute over the handling of a 2021 case in which 23 Chinese swimmers tested positive for a banned performance-enhancing substance ahead of the Tokyo Olympics now threatens to overshadow swimming events at the Paris Games this summer. Sun is now free to return to competitions next month, but revelations about the 2021 case have cast Chinese swimmers and WADA in a harsh spotlight. Trimetazidine has the potential to boost endurance and has been banned by WADA since 2014. China’s national swimming championships, which serve as selection trials for the upcoming Olympics, are currently underway in Shenzhen, concluding on April 27. At the Tokyo Olympics, China won six medals in swimming, including three golds.

Persons: –, “, ” Mack Horton, Horton, Sun Yang, Sun, WADA, Adam Peaty, ”, Sarah Hirshland, Witold Banka, …, Trimetazidine, CHINADA, Ross Wenzel, trimetazidine, ” Wenzel, Denis Cotterell, Cotterell wasn’t Organizations: CNN, Tokyo, Paris Games, New York Times, ARD, Doping Agency, Olympic, “, Sydney Morning Herald, WADA, Canadian Olympic Committee, Paralympic, ”, CHINADA, Xinhua, Paris Olympics, Chinese Swimming Association, China Locations: Tokyo, China, Australian, South Korea, ”, trimetazidine, Shenzhen

☆ China sees foreign threats ‘everywhere’ as powerful spy agency takes center stage
▼ + stars: | 2024-04-21 | by ( Nectar Gan | ) edition.cnn.com time to read: +16 min

But among the crowds you and I together are protecting national security,” the narrator concludes. Chinese soldiers look at a poster promoting national security in the southwestern city of Beihai on National Security Education Day on April 15, 2024. CFOTO/Future Publishing/Getty ImagesAccording to the MSS, foreign spies are omnipresent and infiltrating everything – from mapping apps to weather stations. But China’s spy agency has gradually stepped out of the shadows as Xi makes national security a key priority. “Shenyin Special Investigation Squad” is a comic series based on real-life counterespionage operations, according to China's spy agency.

Persons: –, “, ”, Xi, Xuezhi Guo, Sheena Chestnut Greitens, Xi Jinping, Greg Baker, Mao Zedong, Greitens, Chen Yixin, Chen, “ Chen, ” Greitens, Xi –, denigrate, Bain, Alex Plavevski, Guo, influencers, China’s, can’t, James Zimmerman, Perkins Coie, Zimmerman, ” Zimmerman Organizations: Hong Kong CNN, National Security Education, “, Ministry of State Security, National Security, Publishing, CIA, National, Education, Capitol, Guilford College, Asia, University of Texas, Getty, Communist Party, FBI, National Security Propaganda, CCTV, Ministry of State, China’s National Security Commission, Group, China Development Forum, Perkins Coie LLP, ”, MSS Locations: China, Hong Kong, Beihai, British, American, Beijing, Austin, AFP, Zhejiang province, Shanghai, New York, overreaching

☆ China’s Economy, Propelled by Its Factories, Grew at Start of Year
▼ + stars: | 2024-04-15 | by ( Keith Bradsher | Alexandra Stevenson | ) www.nytimes.com time to read: +1 min

The Chinese economy grew strongly in the first three months of the year, new data shows, as China built more factories and exported huge amounts of goods to counter a severe real estate crisis and sluggish spending at home. To stimulate growth, China, the world’s second-largest economy, turned to a familiar tactic: investing heavily in its manufacturing sector, including a binge of new factories that have helped to propel the sale around the world of solar panels, electric cars and other products. But China’s bet on exports has worried many foreign countries and companies, which fear that rising shipments of Chinese goods that are flooding economies elsewhere may undermine their own manufacturing industries and lead to layoffs. On Tuesday, China’s National Bureau of Statistics said the economy grew 1.6 percent in the first quarter over the previous three months. When projected out for the entire year, the first-quarter data indicates that China’s economy was growing at an annual rate of about 6.6 percent.

Organizations: China’s National Bureau of Statistics Locations: China

☆ Americans are savings less these days. Here’s why and what that means
▼ + stars: | 2024-04-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington CNN —Americans haven’t been stashing money into their savings accounts like they used to, according to government statistics. Put together, this may have resulted in “a structurally lower saving rate,” according to the report. What does the lower saving rate of nowadays say about the US consumer? Households are continuing to spend at these elevated rates and one reason is because of the lower saving rate. You’re just not seeing a reversal back to pre-Covid levels, which isn’t shocking when you look back historically to what has happened to the saving rate.

Persons: haven’t, “, Wells, Bell, Shannon Seery Grein, There’s, they’ve, we’ve, Matt Egan, ” Paul Knopp, Read, Goldman Sachs, Charles Schwab, Lorie Logan, Mary Daly, Johnson, Morgan Stanley, Jerome Powell, Loretta Mester, John Williams, Raphael Bostic, Austan Goolsbee Organizations: Washington CNN, Wells, KPMG, CNN, Gallup, T Bank, US Commerce Department, National Association of Home Builders, China’s National Bureau of Statistics, Johnson, Bank of America, PNC, The Bank of New York Mellon, Northern Trust, United Airlines, Federal Reserve, Abbott Laboratories, Discover, Citizens, Cleveland Fed, Taiwan Semiconductor Manufacturing, Netflix, Alaska Air, National Association of Realtors, Fed, US Labor Department, Procter & Gamble, American Express . Chicago Fed Locations: Wells Fargo, United States, Europe, UnitedHealth, Blackstone

☆ Biden’s manufacturing industry is expanding, but that could be bad for inflation
▼ + stars: | 2024-04-07 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

But a resurgence in the industry could complicate the Federal Reserve’s ongoing inflation fight, either delaying the first interest rate cut or resulting in fewer cuts this year, some economists say. Interest rates have been at a two-decade high since July, after the Fed raised rates aggressively over the prior year and a half. The economy picking up further strength would spook Wall Street because of what it means for interest rates — and some manufacturers say they’re optimistic about the future. The Bank of Canada announces its latest interest rate decision. China’s National Bureau of Statistics releases March inflation data.

Persons: Joe Biden, ”, Tom Barkin, “, Mary Daly, ” Daly, Jerome Powell, Neel Kashkari, ” Kashkari, ” Richard de Chazal, Blair, they’re “, Amazon’s, It’s, Ramishah Maruf, Amazon, haven’t, Read Organizations: Washington CNN, Institute for Supply Management, Congress, Fed, ” Richmond Fed, ” San Francisco Fed, Minneapolis, Dow, Blair Equity Research, Amazon, Fresh, Delta Air Lines, US Labor Department, Index, Bank of Canada, Federal Reserve, National Bureau of Statistics, Constellation Brands, European Central Bank, JPMorgan Chase, Citigroup, State, National Statistics, The University of Michigan Locations: Richmond , Virginia, ” San, Las Vegas, India, Wells Fargo, Progressive, BlackRock

☆ A glut of cheap Chinese goods is flooding the world and stoking trade tensions
▼ + stars: | 2024-03-28 | by ( Hanna Ziady | Laura He | ) edition.cnn.com time to read: +8 min

The oversupply of Chinese goods in key industries is stoking tensions between the world’s biggest manufacturer and its major trading partners, including the United States and the European Union. From clothes to carsChina’s exports of low-priced goods got a boost after it joined the World Trade Organization (WTO) in 2001. “What China exports is advanced production capacity that meets the needs of foreign customers,” Xinhua News Agency wrote. US President Joe Biden recently pledged to investigate whether imports of Chinese vehicles pose a national security threat. “But perhaps more importantly, persistent oversupply and low prices of Chinese goods will add to geopolitical tensions and keep the threat of tariffs and counter-tariffs alive,” she wrote in a recent note.

Persons: Hong Kong CNN —, ” Jens Eskelund, Xi Jinping, Huang Jingwen, ” Eskelund, Brad W, ” Markus W, Voigt, China’s BYD, Warren Buffett, Setser, Li Qiang, “, ”, Joe Biden, Jennifer McKeown, Shawn Deng Organizations: Hong Kong CNN, European Union, European Union Chamber of Commerce, Zero, of, People, China’s National Bureau of Statistics, Council, Foreign Relations, World Trade Organization, Aream Group, Tesla, Getty, China Development Forum, Xinhua, Agency, ., EV, European Commission, WTO, Capital Economics Locations: Hong Kong, United States, China, Europe, Beijing, Xinhua, China's Shandong, . Washington, Brussels

China’s economy has struggled to recover from severe self-imposed restrictions during the COVID-19 pandemic that it lifted only at the end of 2022. But Xi said that China was again contributing to world economic growth in the double digits percentage-wise. China's economy has been bogged down by a crisis in its property market in which builders are struggling under mountains of debt, and buyers are paying off loans on apartments that may never be completed. Other issues, such as an aging population and high youth unemployment, are prompting China's leaders to lean more heavily on boosting export manufacturing to make up for weak demand at home. “The respective successes of China and the United States create opportunities for each other," Xi was quoted as saying by Xinhua.

Persons: —, Xi Jinping, Xi, ” Xi, Stephen A, Biden, Donald Trump, “, Craig Allen, China's, Antony Blinken, Janet Yellen Organizations: BEIJING, U.S, Communist Party, China's, Xinhua News Agency, Blackstone . Trade, U.S ., China Business Council, Apple, Xinhua Locations: Beijing, China, U.S, United, Washington, San Francisco, Taiwan, Hong Kong, Tibet, Xinjiang, People's Republic, United States

☆ Why Are China’s Nationalists Attacking the Country’s Heroes?
▼ + stars: | 2024-03-26 | by ( Joy Dong | Vivian Wang | ) www.nytimes.com time to read: +1 min

To get the economy back on track, China is trying to champion its domestic companies and reassure entrepreneurs that it’s ready for business. Its efforts are running into a problem: an online army of Chinese nationalists who have taken it upon themselves to punish perceived insults to the country — including from some of China’s leading business figures. When fellow tycoons defended him, they were attacked as well, by users whose profiles featured photos of the Chinese flag. As the fervor spread, social media users also hounded Huawei, the crown jewel of China’s tech industry, accusing it of secretly admiring Japan. Others accused a prestigious university of being too cozy with the United States, and demanded the works of a Nobel-winning Chinese author be removed from circulation for purportedly smearing national heroes.

Persons: unpatriotic, tycoons Organizations: Huawei Locations: China, United States, Japan

☆ Nongfu Spring: Bottled water empire of China’s richest man Zhong Shanshan is facing a boycott by nationalists
▼ + stars: | 2024-03-13 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Zhong and his drinks firm Nongfu Spring, the country’s biggest maker of bottled water, are the latest targets of an army of internet zealots. WeiboThe nationalists have also highlighted the fact that prominent US investment funds, including Vanguard and BlackRock, are major shareholders of Nongfu Spring. “Taking advantage of Mr Zong’s death, a lot of slander against me and Nongfu Spring appeared on the internet. “Whether Wahaha or Nongfu Spring, we always insist on the same thing — producing good products for the people,” he said. Nongfu Spring is just the latest major target of China’s nationalists.

Persons: Hong Kong CNN — Zhong Shanshan, Zhong, Zong Qinghou, Zong, Zhong’s, —, “ Zhong Shuzi, ”, “, He’s, Mr Zong’s, ” Zhong, influencers, netizens, “ Zong, Wei Jiang, Mo Yan, Mao Zedong, Stringer, Li Ning Organizations: Hong Kong CNN, Wahaha, Danone, Weibo, ”, Vanguard, BlackRock, Nongfu, American, Wahaha’s, CNN, Zhejiang Daily, Communist Party, Auto, Zhejiang University of Finance, Economics, People’s Liberation Army, AFP, Getty, Nike, Adidas, United, Toyota, Honda Locations: China, Hong Kong, Beijing, American, Weibo, Nongfu, Zhejiang, Hami, China's, Xinjiang, AFP, United States, Japan

BEIJING (AP) — China’s national congress is wrapping up its annual session Monday with the usual show of near-unanimous support for plans designed to carry out ruling Communist Party leader Xi Jinping's vision for the nation. This year's weeklong event, replete with meetings carefully scripted to allow no surprises, has highlighted how China’s politics have become ever more calibrated to elevate Xi. A key item due to be put for a ritual vote on Monday are revisions of the “Organic Law of the State Council,” China's version of a cabinet, that direct it to follow Xi's vision. The Organic Law of the State Council is being revised for the first time since it was adopted in 1982. The revision calls for the State Council, above all, to “uphold the leadership of the Communist Party of China."

Persons: Xi, —, Li Qiang, ” Neil Thomas, ” Thomas, Wang Yi, Qin Gang, Mao Zedong, ” Organizations: BEIJING, —, Communist Party, State Council, Asia Society Policy Institute, Communist Party of China Locations: China, China's, U.S

☆ Google employee charged with stealing AI trade secrets
▼ + stars: | 2024-03-06 | by ( Hannah Rabinowitz | Brian Fung | ) edition.cnn.com time to read: +3 min

CNN —A Google employee was charged Tuesday with stealing artificial intelligence trade secrets from the tech giant while secretly working with two Chinese-based companies in the AI industry. Linwei Ding, who also goes by Leon Ding, is charged with four counts of theft of trade secrets. As part of his responsibilities at Google, prosecutors say, Ding helped to develop the software deployed in Google’s supercomputing data centers. Ding was a junior employee, Google spokesperson José Castañeda told CNN, and the company monitors file transfers to cloud storage platforms including Google Drive and Dropbox. “We have strict safeguards to prevent the theft of our confidential commercial information and trade secrets,” Castañeda said.

Persons: Linwei Ding, Leon Ding, “, General Merrick Garland, ” Ding, Ding, ”, José Castañeda, ” Castañeda Organizations: CNN, Google, supercomputing, Justice Department, FBI Locations: America, California, China, United States

☆ A bigger pool of American workers could continue to slow inflation even further
▼ + stars: | 2024-03-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Now, as the Federal Reserve faces the final stretch of its historic inflation battle, a bigger pool of workers could slow inflation even further. That then begs the question: How much more can better labor supply slow inflation? The US Labor Department releases January figures on job openings, quits, hires and layoffs. The US Labor Department reports the number of new applications for jobless benefits in the week ended March 2. China’s National Bureau of Statistics releases February inflation data.

Persons: Mary Daly, “, ” Sarah House, Michael Gapen, That’s, Jack Bantock, ’, ”, Richard Felton, Thomas, ’ ”, Patrick Harker, Ross, Nordstrom, Michael Barr, Campbell Soup, Foot, Jerome Powell, Loretta Mester Organizations: DC CNN, Federal Reserve, San Francisco Fed, National Association for Business Economics, Labor, CNN, Bank of America, White House’s Council, Economic Advisers, English Premier League, Chelsea, Burnley, Philadelphia Fed, Target, P Global, Institute for Supply Management, US Commerce Department, Abercrombie, Fitch, Financial Services, The Bank of Canada, US Labor Department, Broadcom, Costco, Eagle Outfitters, Potbelly, Banking, Housing, Urban Affairs, European Central Bank, Cleveland Fed, National Bureau of Statistics Locations: Washington, San, Wells, United States, London, JD.com, Kroger, Burlington, DocuSign

☆ Americans have racked up a trillion dollars in credit card debt. That’s actually okay
▼ + stars: | 2024-02-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Americans racked up a record amount of credit card debt in 2023, soaring past a trillion dollars. “Consumers still have a lot of money left over to be able to spend, so the credit card data is often misinterpreted,” Russell Price, chief economist at Ameriprise Financial, told CNN. According to a LendingTree analysis of more than 350,000 credit reports, the average unpaid credit card balance was $6,864 in the fourth quarter. Overall, US household debt (including credit card balances) rose to a new high of $17.5 trillion in the fourth quarter, up 1.2% from the prior three-month period. So, while there certainly isn’t a shortage of economic hurdles bedeviling people’s budget — and credit card debt has surged — the big picture indicates that, so far, Americans (and their economy) remain healthy.

Persons: ” Russell Price, Price, haven’t, market’s, ” Gregory Daco, ” Lara Rhame, Laura, Jensen Huang, Christine Lagarde, Virgin, Michael Barr, Raphael Bostic, Susan Collins, John Williams, Papa, Austan Goolsbee, Loretta Mester, fuboTV, Christopher Waller, Mary Daly, Adriana Kugler Organizations: CNN Business, Bell, DC CNN, Workers, New York Fed, Consumers, Ameriprise, CNN, Federal Reserve Bank of New, . New York Fed, Employers, Soaring, FS Investments, Nvidia, Huawei, AMD, Microsoft, Broadcom, US Commerce Department, Central Bank, eBay, Smucker, Urban Outfitters, Global, Board, TJX, Monster Beverage, Baidu, HP, Paramount Global, Anheuser, Busch Inbev, Dell Technologies, Papa John’s, US Labor Department, National Association of Realtors, P, China’s National Bureau, Statistics, Pearson, P Global, Institute for Supply Management, University of Michigan Locations: Washington, Federal Reserve Bank of New York, ., EY, Santa Clara, Singapore, Shenzhen, China, Beijing, CAVA

☆ Exclusive-Eisai Expects 1,500 Alzheimer's Patients in China Launch, Sees ‘Huge’ Growth
▼ + stars: | 2024-02-04 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +5 min

“China is one of the fastest-aging countries in the world and is one of the most important countries in the area of Alzheimer’s disease for Eisai,” a company spokesperson said. “The potential growth for Leqembi in China is huge.”Eli Lilly, which is developing a similar treatment called donanemab, told Reuters it has filed for approval in China. The Indianapolis-based company is now testing its drug in a 1,500-person trial with volunteers in China, Taiwan, South Korea and the EU, a spokesperson said. Leqembi, which works by removing a toxic protein called beta amyloid from the brain, is the first Alzheimer's treatment proven to alter the course of the fatal, brain-wasting disease. Once on treatment, suitable patients undergo a series of MRI scans to monitor for potentially fatal swelling and bleeding in the brain.

Persons: Julie Steenhuysen, Andrew Silver CHICAGO, ” Eli Lilly, Biogen, Liu Zhou, Eisai, ”, Hidemaru Yamaguchi, Soeren Mattke, Mattke, Andrew Silver, Caroline Humer, Bill Berkrot Organizations: Reuters, EU, Leqembi, Guangdong Medical University, ” Citi, Psychiatry, Siemens Healthineers, University of Southern, University of Southern California Brain Health Locations: SHANGHAI, China, ”, Leqembi, The Indianapolis, Taiwan, South Korea, Eisai, United States, Japan, Europe, U.S, University of Southern California, Chicago, Shanghai

☆ A soft landing is now likely. But Americans will still deal with unaffordable housing
▼ + stars: | 2024-02-04 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

In a letter days before the Fed’s decision Wednesday to hold interest rates steady at a 23-year high, Democratic US senators blasted the central bank for America’s housing woes. In 2021 when the Fed’s key interest rate was near zero, home-price growth soared at a historic double-digit pace, according to the S&P CoreLogic Case-Shiller National Home Price Index. Divounguy said that the average 30-year fixed mortgage rate will likely not fall below 6% this year. That way we can actually start heading in the right direction with affordability and have that be sustainable and not just a short-term interest rate phenomenon,” she said. Richmond Fed President Thomas Barkin delivers remarks.

Persons: Valerie Plesch, Orphe Divounguy, Freddie Mac, it’s, Fannie Mae, Divounguy, ” Daryl Fairweather, Trump, Jerome Powell, Donald Trump, Powell, David Goldman, Alexandra Ross, ” Trump, Maria Bartiromo, Joe Biden, Estee Lauder, Tyson, Raphael Bostic, Eli Lilly, Loretta Mester, Walt Disney, Adriana Kugler, Thomas Barkin, Michelle Bowman, Ralph Lauren, Armour Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Democratic, Eccles Federal Reserve, Bloomberg, Getty, CNN, National Association of Realtors, Fox Business, Bureau of Labor Statistics, Trump, Fed, Caterpillar, Tyson Foods, P Global, Institute for Supply Management, Atlanta Fed, Toyota, UBS AG, Chipotle, Cleveland Fed, Walt, CVS, PayPal, Brands, Fox, The Carlyle, News Corporation, New York Times Company, Mattel, Spirit Airlines, US Commerce Department, China’s National Bureau of Statistics, ConocoPhillips, Unilever, Duke Energy, Expedia, Warner Music Group, Tenet Healthcare, Richmond Fed, Pepsico, Honda Locations: Washington, Washington , DC, CAVA

☆ Evergrande liquidation: Here’s what may happen next
▼ + stars: | 2024-01-31 | by ( Laura He | ) edition.cnn.com time to read: +9 min

But there is still little clarity over how the liquidation of Evergrande will unfold. That’s because the legal systems of Hong Kong and China remain distinct, despite Beijing’s growing control over the former British colony in recent years. No Chinese company as huge as Evergrande — which was once China’s second largest developer— has been wound up by a Hong Kong court. Hui Ka Yan, chairman of property developer China Evergrande. Since then, Evergrande has been building and selling apartments in mainland China, even though it has been unable to repay its debts.

Persons: Alvarez, Marsal, —, ”, John Bringardner, Hong, Hui Ka Yan, Xu Jiayin, Hui, Xiao En, Bobby Yip, Xiao, Evergrande, Florence Lo, homebuyers, Will, Andy Wong, Diana Choyleva, Xiao Yuanqi, ” Bringardner, ” Choyleva, Choyleva, “ Evergrande Organizations: Hong Kong CNN, Shimao, Kaisa Holdings, Group, “, Real, Century Business Herald, China Index Academy, Enodo, Communist Party, China’s, Financial Regulatory Administration, Getty, People’s Bank of China, Finance Ministry, Evergrande, Marsal Locations: Hong Kong, United States, China, British, New York, China . Hong Kong, Shenzhen —, Asia, Florence, Beijing, Real, Hainan

☆ This week will make it clearer if the Fed will cut interest rates in March
▼ + stars: | 2024-01-28 | by ( Bryan Mena | ) edition.cnn.com time to read: +11 min

Washington, DC CNN —A slew of economic news this week will make it much clearer if the Federal Reserve will cut interest rates in March. The Labor Department is due to release four crucial assessments of America’s job market, gauging labor demand, wage growth, productivity and hiring. Wages and the Fed on Wednesday: The day after, the Labor Department releases its Employment Cost Index for the fourth quarter, a comprehensive measure of employers’ labor costs. The US Labor Department releases December data on job openings, quits, hires and layoffs. The US Labor Department releases its Employment Cost Index for the fourth quarter.

Persons: that’s, ”, Christian Scherrmann, Jerome Powell, ” Michael Feroli, “, ” Feroli, Powell, Alicia Wallace, Joe Brusuelas, Jerome Powell’s Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Labor Department, DWS, Labor, Survey, Fed, Employers, PCE, Federal, Commerce Department, RSM, Whirlpool, Microsoft, UBS, HCA Healthcare, General Motors, Cleveland Cliffs, Mondelez International, JetBlue Airways, Global, US Labor Department, Board, National Bureau of Statistics, Novo Nordisk, Mastercard, Novartis, Boeing, ADP, Nasdaq, Nomura Holdings, Apple, Shell, Honeywell, Deutsche Bank, Clorox, Quest Diagnostics, United States Steel, Bank of England, P Global, Institute for Supply Management, Exxon Mobil, AbbVie, Regeneron Pharmaceuticals, University of Michigan Locations: Washington, Marathon, Cleveland, Chevron

☆ Red Sea crisis: Why escalating violence in the Middle East isn’t pushing up gas prices
▼ + stars: | 2024-01-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

The prices of a barrel of Brent crude, the global oil benchmark, and West Texas Intermediate, the US oil benchmark, have barely moved. Now, however, analysts say economic factors — weaker demand in countries such as China and Germany, ample oil and gas supply — are superseding concerns about violence in the Middle East. Al Drago/Bloomberg/Getty ImagesGlobal oil demand growth is expected to almost halve this year, the International Energy Agency said in a report Thursday. At the same time, global oil supply is forecast to hit an all-time high, driven by record output from countries including the United States and Canada, the IEA said. Nan said relatively modest demand was also helping to prevent spikes in gas prices.

Persons: Brent, “, Homayoun, “ It’s, ”, Hope, Al Drago, That’s, Falakshahi, Xi Nan, Kpler, Wood Mackenzie, Nan Organizations: London CNN, Hamas, West Texas Intermediate, AAA, CNN, National Bureau of Statistics, Bloomberg, Getty, International Energy Agency, Organization of, Petroleum, Rystad Energy, Gas Infrastructure, LNG “ Locations: Red, Iran, Pakistan, Gaza, Ukraine, China, Germany, South Africa, Washington , DC, United States, Canada, Russia, OPEC, Europe, wean, Gas Infrastructure Europe, Africa, Qatar, United Kingdom

☆ China’s population declines for second straight year as economy stumbles
▼ + stars: | 2024-01-17 | by ( Laura He | Simone Mccarthy | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —China’s population shrank for the second year in a row in 2023, marking a deepening of a demographic challenge set to have significant implications on the world’s second largest economy. The population fell in 2023 to 1.409 billion, down some 2.08 million people from the previous year, China’s National Bureau of Statistics (NBS) announced Wednesday. The NBS confirmed that China’s economy grew by 5.2% last year, compared to a government target of around 5%. While this expansion marks a significant pick-up over 2022, when China’s economy grew by just 3%, it is still one of the country’s worst economic performances in over three decades. China’s birth rate also dropped to a new record low of 6.39 births per 1,000 people, down from 6.77 a year earlier and the lowest level since the founding of Communist China in 1949.

Persons: Mao Zedong’s Organizations: Hong Kong CNN, China’s National Bureau of Statistics, NBS, Communist Locations: China, Hong Kong, Communist China, India, Beijing

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