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☆ Euro zone inflation sinks to 2.4%, below expectations
▼ + stars: | 2023-11-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

(Photo by Ying Tang/NurPhoto via Getty Images)Annual inflation in the euro zone cooled to 2.4% in November from 2.9% in October, flash figures showed Thursday. Inflation in the euro zone's largest economies, Germany and France, has dropped to 2.3% and 3.8%, respectively. ECB officials have repeatedly stressed that it is too early to declare victory over price rises in the 20-member euro zone bloc, as they monitor potential pressures from wage increases and energy markets. Separate data released by statistics agency Eurostat on Thursday showed that unemployment in the euro area remained at a record low of 6.5% in October, despite a contraction in the euro zone economy in the third quarter. "For the ECB, signs of an imminent victory on inflation are mounting," Bert Colijn, senior euro zone economist at ING, said in a note, adding that some of the impact from existing monetary tightening was yet to be felt.

Persons: Ying Tang, —, Mathieu Savary, Bert Colijn Organizations: Aachen, Getty, Reuters, European Central Bank, Energy, ECB, BCA Research, Eurostat, ING Locations: Aachen, Germany, France, European

☆ Samsung expects memory chip demand to improve, as operating profit beats expectations
▼ + stars: | 2023-10-31 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

First quarter operating profit plummeted 85.15% from the fourth quarter of 2022, while second-quarter operating profit saw only 4.68% improvement from the first quarter. Here are Samsung's third-quarter results versus estimates:Revenue: 67.4 trillion Korean won (about $50 billion), vs. 67.8 trillion Korean won expected by analysts polled by LSEG. 67.4 trillion Korean won (about $50 billion), vs. 67.8 trillion Korean won expected by analysts polled by LSEG. Operating profit: 2.43 trillion Korean won, vs. 2.3 trillion Korean won expected by LSEG analysts. Earlier this month, Samsung estimated third-quarter revenue would be 67 trillion Korean won and operating profit to be 2.4 trillion won.

Persons: Ying Tang, Samsung, Goldman Sachs Organizations: Samsung, Getty Images, Samsung Electronics, LSEG, Korean Locations: Shanghai, China

☆ China Raids Offices of WPP Unit GroupM, Detains Executive
▼ + stars: | 2023-10-21 | by ( Patience Haggin | ) www.wsj.com time to read: 1 min

Foreign companies are increasingly wary of doing business in Chinese cities such as Shanghai, where GroupM’s offices were raided. Photo: Ying Tang/Zuma PressChinese police have raided the Shanghai offices of GroupM, a media-investment group and unit of London-based WPP , and detained an advertising executive, said a person familiar with the matter. Police questioned other local executives during the raid, including GroupM’s Chief Executive in China Patrick Xu, the person said.

Persons: Ying Tang, China Patrick Xu Organizations: Zuma Press, WPP, Police, GroupM’s Locations: Shanghai, London, China

☆ What's gone wrong with China's economy
▼ + stars: | 2023-08-21 | by ( Laura He | ) edition.cnn.com time to read: +8 min

It’s a far cry from global financial meltdown of 2008, when China launched the largest stimulus package in the world and was the first major economy to emerge from the crisis. It’s also a reversal from the early days of the pandemic, when China was the only major developed economy to dodge a recession. Property woesChina’s economy has been in doldrums since April, when momentum from a strong start to the year faded. While Evergrade is still undergoing a debt restructuring, troubles at Country Garden raised fresh concerns about the Chinese economy. Beijing has so far unveiled a steady incremental drip of measures to boost the economy, including interest rate cuts and other moves to help the property market and consumer businesses.

Persons: rekindling, Ying Tang, Morgan Stanley, Xi Jinping, It’s, what’s, Evergrande, Evergrade, ”, Julian Evans, Pritchard, Evans Organizations: Hong Kong CNN, UBS, Nomura, Barclays, Garden, Zhongrong Trust, CNN, Capital Economics, “, People’s Bank of China, National Health Commission, Moody’s Investors Service Locations: Hong Kong, China, Shanghai, It’s, doldrums, Beijing, United States, Europe

☆ What new norm of slower Chinese growth could mean for the global economy
▼ + stars: | 2023-07-25 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

Ying Tang | NurPhoto | Getty ImagesThe Chinese economy could be facing a prolonged period of lower growth, a prospect which may have global ramifications after 45 years of rapid expansion and globalization. The ruling Chinese Communist Party has set a growth target of 5% for 2023, lower than usual and notably modest for a country that has averaged 9% annual GDP growth since opening up its economy in 1978. For the global economy, however, the most immediate spillover of a Chinese slowdown will likely come in commodities and the industrial cycle, as China reconfigures its economy to reduce its reliance on a property sector that has been "absorbing and driving commodity prices." "This shift from a complementary economy, where Beijing and Berlin kind of benefit from each other, to now being competitors is another big consequence of the structural slowdown," Green said. He noted that beyond the immediate loss of demand for commodities, China's reaction to its shifting economic sands will also have "second order impacts" for the global economy.

Persons: Ying Tang, Julian Evans, Pritchard, Evans, it's, Xi Jinping's, Rory Green, Green Organizations: Beijing, Communist Party, Capital Economics, Triple, TS Lombard, CNBC Locations: Suzhou, Shanghai, China, Asia, Beijing, Japan, Brazil, Australia, Germany, Berlin

☆ Flight attendants’ secrets for surviving summer travel
▼ + stars: | 2023-06-28 | by ( Francesca Street | ) edition.cnn.com time to read: +21 min

Navigating air travel at this time of year can be fraught, but it doesn’t have to be – and if anyone’s got intel on smoothly and successfully surviving summer travel, it’s the flight attendants who’ve seen it all. But the flight attendants say the lost sleep is worth it in the long run. Andrew adds that this advice is especially crucial if you’re flying internationally, suggesting that whatever you consider a “normal” connection time, you should probably double if you’re flying long haul. Consider whether check-in luggage is necessaryThe flight attendants always travel with carry-on luggage only and generally speaking encourage others to do the same. Rich Henderson, flight attendantOften flight attendants are just as clueless as passengers.

Persons: anyone’s, who’ve, Rich Henderson, Andrew Henderson, Rich, Andrew, Essence Griffin, who’s, ”, Griffin, “, hasn’t, There’s, you’re, that’s, you’ve, “ They’ll, it’s, ” Rich, she’s, they’ve, ” Griffin, she’d, They’ve, there’s, Andrew’s, Ying Tang, we’ve, Andrew points, Rich haven’t, I’ve, “ I’m, They’re, ’, –, ” Rather, what’s, “ We’re, It’s, aren’t, ” Griffin’s, ” Andew Organizations: CNN, intel, ”, Netflix Locations: There’s, Europe, Duesseldorf, Germany

☆ Hiking rates too quickly could trigger a ‘prolonged recession,’ IMF head warns
▼ + stars: | 2022-10-06 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

“This is the size of the German economy — a massive setback for the world economy,” she said. Those will be lowered again when the IMF releases its latest World Economic Outlook report next week, Georgieva said. “In less than three years, we lived through shock, after shock, after shock,” the Bulgarian economist said. She urged policymakers to stay the course on fighting inflation but cautioned that tightening monetary policy too much could hurl the globe into a prolonged recessionary period. “Uncertainty remains extremely high in the context of war and pandemic.

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