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☆ China is ramping up stimulus to boost market confidence — but is it enough?
▼ + stars: | 2024-01-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Starting Feb. 5, the People's Bank of China will allow banks to hold smaller cash reserves, central bank governor Pan Gongsheng said at a press conference, his first in the role. Cutting the reserve requirement ratio (RRR) by 50 basis points is set to release 1 trillion yuan ($139.8 billion) in long-term capital, the central bank said. A 2 trillion yuan boost? Chinese Premier Li Qiang on Monday called for much stronger measures to boost market stability and confidence, according to an official readout. Chinese authorities in October already announced the issuance of 1 trillion yuan in government bonds, alongside a rare increase in the deficit.

Persons: Gongsheng, Pan Gongsheng, Tao Wang, Ting Lu, a, Lu, Wang, Stocks, Winnie Wu, That's, Li Qiang, Pan, Philip Yin, David Chao, Pan's Organizations: People's Bank of China, State Administration of Foreign Exchange, Financial, Getty, Visual China, People's Bank of, UBS Investment Bank, Wednesday, National Financial Regulatory Administration, UBS, Bank of America's, Bloomberg, PBOC, Citi, U.S, Asia Pacific, CNBC Locations: BEIJING, CHINA, Beijing, China, People's Bank of China, Asia, Hong Kong, capitulating, Japan, Invesco

☆ UBS expects the Fed to halve interest rates next year. Here are 3 preferred trades
▼ + stars: | 2023-11-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

UBS has highlighted several stock ideas it favors for 2024, as it forecasts massive cuts to interest rates next year. The investment bank expects the U.S. will see slower economic growth and strong disinflation leading to an interest rate cut of 275 basis points . Given the economic outlook, UBS strategists recommend a number of trades to clients for 2024. All the sectors apart from software trade on bigger discounts than normal against their US peers," the UBS strategists said. To reflect that view, UBS strategists said they favored gaining exposure to the KraneShares CSI China Internet ETF in 2024.

Persons: Jonathan Pingle, Gerry Fowler, Sean Simonds, KWEB Organizations: UBS, Federal, CNBC, U.S, Investors, China Tech, Internet Technology, CSI China Internet Locations: U.S, China

☆ Eddie Wu: Alibaba's new CEO embraces AI and wants a younger management team
▼ + stars: | 2023-09-12 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Alibaba Group will embrace artificial intelligence (AI) and promote younger people to senior management, its new CEO says, as the e-commerce and cloud giant tackles its most ambitious restructuring in its history. “Times are changing, and so must Alibaba!” Eddie Wu, who stepped into the chief executive role on Sunday, said in a memo to staff seen by CNN. Wu replaced Daniel Zhang to become Alibaba (BABA)’s fourth CEO in its 24-year history. According to a plan announced in March, Alibaba will split into six separate units, including cloud, e-commerce, logistics, media and entertainment. Top tech firms around the globe have been shifting their focus to AI, including Google (GOOG), Amazon (AMZN) and Microsoft (MSFT), especially after ChatGPT took the world by storm late last year.

Persons: Eddie Wu, Wu, Daniel Zhang, ’, “, Alibaba, ChatGPT Organizations: Hong Kong CNN — Alibaba, “, CNN, Google, Microsoft Locations: China, Hong Kong

CFOTO | Future Publishing | Getty ImagesHigh-end focus aims to challenge AppleHuawei's strategy has become more refined, as it looks to compete in the premium segment of the smartphone market, rather than across all sectors. "Huawei's smartphones took the second spot in the high-end segment. The company released its Mate X3 foldable this year, and that device, along with the flagship P60, helped the company boost its premium segment share. "It totally makes sense for Huawei to focus on the premium segment. Software pushPart of Huawei's high-end strategy revolves around HarmonyOS, an operating system it says is designed for smartphones and other devices like wearables and TVs.

Persons: Yu, Will Wong, HarmonyOS, Celia, Huawei's, it's, Jia Yongli, Jia Organizations: Huawei, Getty, Apple, IDC, Huawei's, Reuters, CNBC, Software Locations: China

Elon Musk’s Unmatched Power in the Stars The tech billionaire has become the dominant power in satellite internet technology. Today, more than 4,500 Starlink satellites are in the skies, accounting for more than 50 percent of all active satellites. 53% of active satellites are Starlink.” The Starlink satellites are highlighted and are all operating in low-Earth orbit. How Starlink customers connect to the internet Starlink satellites orbit at much lower altitudes than traditional satellite internet services. “Everywhere on earth will have high bandwidth, low latency internet,” Mr. Musk predicted on the Joe Rogan podcast in 2020.

Persons: Elon Musk’s, Mark, Valeriy Zaluzhnyi, Elon Musk, Zaluzhnyi, General Zaluzhnyi, Musk, Musk’s, ”, Starlink’s, ” Mykhailo Fedorov, Mr, Biden, ” Dmitri Alperovitch, Sir Martin Sweeting, Sweeting, Mike Blake, Patrick Seitzer, Rafael Schmall, Joe Rogan, Jeff Bezos, Starlink, Russia —, Fedorov, —, Clodagh Kilcoyne, Nancy Pelosi, Colin H, Kahl, Lynsey Addario, messaged Mr, Lloyd Austin, Gregory C, Allen, we’ve, Mykhailo Podolyak, Volodymyr Zelensky, Jason Hsu, Hsu, “ Elon, Michael McCaul of, Tsai Ing, Tsai, Audrey Tang, Mariana Suarez, Thierry Breton, SpaceX, Chérif El, Amazon Organizations: Joint Chiefs of Staff, Ukraine’s Armed Forces, SpaceX, Tesla, Twitter, Mr, U.S . Defense Department, NASA, Senior Pentagon, The Defense Department, Starlink, European Union, Silverado, Accelerator, Surrey Satellite Technology, Reuters, Airbus, Earth, Getty, Satellite, University of Michigan, National Science Foundation, Rivals, Amazon, Origin, Viasat, Pentagon, CNN, The New York Times, U.S, Defense Department, Center for Strategic, International Studies, Elon, Harvard Kennedy School, Republican, House Foreign Affairs, OneWeb, Agence France, European, United Nations Locations: Ukraine, United States, Iran, Turkey, Japan, Starlink, Crimea, Russian, Starlinks, Europe, Taiwan, China, Beijing, British, Colorado, Cape Canaveral, Fla, —, California, Florida, Latin America, Africa, Nigeria, Mozambique, Rwanda, Ukrainian, Russia, Kreminna, Aspen, Colo, Kherson's, Kherson, Dnipro, Shanghai, Taipei, Michael McCaul of Texas, del, Uruguay, European Union

REUTERS/Nathan FrandinoMOUNTAIN VIEW, California, June 26 (Reuters) - Google parent Alphabet (GOOGL.O) has already tried and failed to bring internet access to rural and remote areas by using high-altitude balloons in the stratosphere. But now, the company is delivering internet service to remote areas by using beams of light. It was initiated in 2016 after attempts at using stratospheric balloons to deliver internet ran into problems due to high costs, company executives said. Taara executives and Bharti Airtel (BRTI.NS), one of India's largest telecommunications and internet providers, told Reuters they are now moving toward larger-scale deployment of the new laser internet technology in India. Bharti Airtel's chief technology officer, Randeep Sekhon, said Taara will also help deliver faster internet service in urban areas in developed countries.

Persons: Nathan, Mahesh Krishnaswamy, Taara, Krishnaswamy, Astro Teller, moonshots, Teller, Bharti, Randeep Sekhon, Jane Lanhee Lee, Nathan Frandino, Kenneth Li, Matthew Lewis Organizations: REUTERS, Bharti Airtel, Reuters, Econet Group, Liquid Telecom, Bluetown, Digicel, Airtel, Sciences, Bharti Airtel's, Google, Thomson Locations: Alphabet's, View , California, U.S, California, India, Australia, Kenya, Fiji, Africa, Pacific, Osur, Chennai, Mountain View

☆ Chinese consumers won't return to pre-Covid spending soon — a problem for Starbucks, Morgan Stanley says
▼ + stars: | 2023-05-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Chinese consumer spending won't return to pre-Covid levels anytime soon, a problem for international brands such as Starbucks, Morgan Stanley said in a report Sunday. On the spending side, three factors are weighing on China's consumer this year, the Morgan Stanley analysts said. Second, pandemic restrictions and regulatory changes have eliminated 30 million service sector jobs that would have existed prior to Covid, the analysts estimated. About 20 million of those jobs are likely to return later this year and next, the report said. Previously, as recently as during the first half of 2021, property sales had led the recovery, the Morgan Stanley analysts pointed out.

☆ The World Wide Web Turns 30: A History of the Internet Technology
▼ + stars: | 2023-04-30 | by ( Matthew Riva | ) www.wsj.com time to read: 1 min

The Mosaic browserThe most popular early browser was released eight days before CERN unleashed the web's source code. The move enabled people for the first time to see text and photos side-by-side, and encouraged growth of the fledgling web. One of Mosaic’s developers was Marc Andreessen, who went on to co-found Netscape and Silicon Valley venture capital firm Andreessen Horowitz. National Center for Supercomputing Applications/University of Illinois Board of Trustees

☆ Marian Croak, who has 200 patents to her name including the technology behind Zoom, became one of the first Black women to be inducted into the Inventors Hall of Fame
▼ + stars: | 2023-03-13 | by ( Yoonji Han | ) www.businessinsider.com time to read: +4 min

Marian Croak became one of the first two Black women to be inducted into the Inventors Hall of Fame. Her innovations in internet technology have enabled remote work, text donations, and voting for American Idol. Last year, she was inducted into the National Inventors Hall of Fame — among the highest honors for inventors, including Thomas Edison, Alexander Graham Bell, and the Wright brothers. Croak became one of first two Black women to receive that honor, alongside the late Patricia Bath, an ophthalmologist who created a device used during surgery to easily remove cataracts. As one of the first-ever Black women to be inducted into the National Inventors Hall of Fame, Croak recognizes the importance of diversity in a historically homogenous industry.

☆ China’s Housing Market Will Revive but Might Not Thrive
▼ + stars: | 2023-01-13 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

China has been rolling out easier policies in hopes of arresting the sharp decline in property sales. China’s sudden shift to pro-growth policies will finally lift its struggling housing market in the Year of the Rabbit. A much stronger 2023 seems assured—but the longer term outlook remains muddy at best. Its strict “zero-Covid” policy is gone. The crackdown on powerful private enterprises, especially in the internet technology sector, has eased.

☆ Why artificial intelligence is set to be a game changer for businesses in 2023, according to 7 founders
▼ + stars: | 2023-01-10 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +4 min

The most common theme was artificial intelligence and how they thought it would be used this year. Insider surveyed 68 founders for their 2023 predictions and the industries they believed would gain market value in the coming year. Here's why founders are talking about AI and how they think it will be used in 2023. It could have an outsize effect on healthcareMany founders believe we'll see significant advancements in healthcare using AI and similar technologies. Katie Wilson, a cofounder and the CEO of the vegan-snack brand BelliWelli, believes AI and robots will be at the forefront of the industry.

☆ Wells Fargo downgrades Qualcomm, says exposure to smartphone industry will hurt chip stock
▼ + stars: | 2022-12-12 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Qualcomm will be among the chip stocks struggling in the new year due to its exposure to smartphone sales, Wells Fargo warned Monday. Analyst Gary Mobley downgraded the stock to underweight from equal weight. Mobley also maintained his price target to $105, which implies a downside of 11.8% over Friday's close. "Once investors are convinced we've reached a bottom in the chip cycle, we believe the sector may rally." Mobley said Qualcomm and other companies that have performance tied to smartphone demand will struggle, as the number of smartphones is likely to decline in 2023 and then grow modestly afterward.

☆ FBI director warns that TikTok could be exploited by China to collect user data for espionage
▼ + stars: | 2022-12-03 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +4 min

FBI Director Chris Wray said on Friday that he has national security concerns about TikTok, per AP News. Wray warned that China could use TikTok to collect user data for espionage operations, AP News said. He added that China could collect users' data for traditional espionage operations, the news agency reported. TikTok said in June that it started routing American users' data via US-based servers owned by Oracle, per The Verge. However, BuzzFeed News reported that US user data was still being repeatedly accessed from China.

A "good" internet speed usually runs at least 25 megabits per second, but it really depends on what you use the internet for. Try to upgrade your internet hardware at least once every three years to stay at the highest internet speeds. What makes a good internet speedIn general, you can measure internet speed in two ways: Bandwidth and latency. Ask a hundred people what a good internet speed is, and you'll get a hundred answers. This is because there isn't any one perfect internet speed — how much speed you need depends on what you use the internet for, and how many devices you have.

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