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☆ Meet the group preparing for a Soviet Union-type collapse of the US economy
▼ + stars: | 2024-05-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the people preparing for the collapse of the financial system . The big storyPreparing for the worstAdobe; Chelsea Jia Feng/BIOpinions fluctuate on the economy, but one group has a decidedly strong take. In the subreddit r/economiccollapse, users are preparing for a Soviet Union-type fall of the US economy , writes Business Insider's Jennifer Sor. Further down the economic totem pole, ALICEs (asset limited, income constrained, employed) are struggling to make ends meet . 3 things in techAlex Wong/Getty Images, STR / Contributor/Getty Images, Stephane De Sakutin/Contributor/Getty Images, Abanti Chowdhury/BIHow Mark Zuckerberg turned against the news.

Persons: —, Chelsea Jia Feng, Jennifer Sor, Jennifer, aren't, Tyler, there's, Neil Dutta, Jim Simons, annualized, Alex Wong, Stephane De Sakutin, Abanti Chowdhury, Mark Zuckerberg, Zuckerberg, Rupert Murdoch, Sam Altman, Alyssa Powell, Rick Doblin, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, Chelsea, Macro, Renaissance Technologies, Big Tech, Apple, FDA, FOX Locations: Soviet Union, China, Washington, Beijing, New York, London, Chicago

☆ Taylor Swift's Eras Tour might be about to do for Europe what it did for America
▼ + stars: | 2024-05-11 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The European leg of Taylor Swift's record-breaking Eras Tour kicked off on Thursday. The Eras tour is the first concert tour to gross over $1 billion, estimates showed. AdvertisementThe European leg of Taylor Swift's Eras Tour kicked off in Paris on Thursday. Estimates showed that the Eras tour is the first concert tour to gross over $1 billion. Hotel booking statistics also help to capture the sense of how in-demand Eras Tour tickets are.

Persons: Taylor, —, Dara Khosrowshahi, Swift, Beyoncé, AirDNA Organizations: Service, Department, Uber, Federal Reserve, Associated Press, Swift, Liverpool, Ireland, Miss Americana Locations: Paris, Singapore —, —, Australia, Stockholm, Cardiff, Vienna, Austria, Warsaw, Poland, Europe, Ukraine

☆ Big Chinese cities are making it easier to buy homes to boost depressed property market
▼ + stars: | 2024-05-09 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Last October it removed curbs in most districts, and in March loosened restrictions on purchases of second homes. Other cities have also taken major steps to make the process of buying property easier. Changsha, the capital city of Hunan province, has also lifted home purchase curbs since last month. “The April Politburo meeting set a more supportive tone for the property sector, prioritizing the reduction of existing home inventory,” they said. “This may suggest that more local governments may be allowed to purchase homes directly from the market for social housing purposes.”

Organizations: Hong Kong CNN, Geely, Hangzhou Housing Security, Real, Administration, Getty Images, homebuyers, Communist Party, UBS Locations: China, Hong Kong, Hangzhou, Chengdu, China's, Sichuan, Getty Images Chengdu, Changsha, Hunan province, Evergrande, Beijing

☆ Hundreds of thousands of fish died in a single reservoir in Vietnam, another sign of how climate change is strangling the economy
▼ + stars: | 2024-05-06 | by ( Meghan Morris | ) www.businessinsider.com time to read: +4 min

A prolonged drought in southeast Asia contributed to massive fish deaths in southern Vietnam. The climate crisis and human development threaten the Mekong Delta, a key global agricultural center. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In Vietnam, the maze of wetlands that comprise the Mekong Delta is called the country's "rice bowl" because of the vast agriculture it supports. Related storiesMeanwhile, in southern Vietnam, hundreds of thousands of fish died in a reservoir last month as temperatures peaked over 100 degrees Fahrenheit and no rain fell for weeks, the AFP reported.

Persons: —, El Niño, they're, Ksor Phung, VnExpress Organizations: Service, Mekong Delta, country's Ministry of Natural Resources, Environment, World Bank, AFP, Residents, Business, Getty, Commission Locations: Asia, Vietnam, Delta, El, Mekong

☆ Adrian Newey: Red Bull chief techical officer and pioneering engineer to leave F1 team in 2025
▼ + stars: | 2024-05-01 | by ( Sammy Mncwabe | ) edition.cnn.com time to read: +3 min

CNN —Red Bull’s pioneering engineer and Chief Technical Officer Adrian Newey is set to leave the outfit in the first quarter of 2025, the team announced in a statement on Wednesday. Prior to Red Bull, the 65-year-old enjoyed successful spells at Williams and McLaren. “For almost two decades, it has been my great honour to have played a key role in Red Bull Racing’s progress from upstart newcomer to multiple title-winning team,” Newey said in the statement released by Red Bull. He was later cleared of any wrongdoing as announced by the Formula One team’s parent company, Red Bull GMBH. According to multiple reports in March, Red Bull suspended the female employee who had leveled the accusations against Horner.

Persons: Adrian Newey, Newey, Red Bull, McLaren, ” Newey, ”, Christian Horner, ” Horner, “, Dietrich Mateschitz, Max Verstappen, Clive Mason, Horner, Mercedes ’ Toto Wolff Organizations: CNN, Red Bull, Constructors, Williams, “, Red Bull Racing Team, Red, Dutchman, Prix, Getty, Australian, Formula, Red Bull GMBH

☆ Vietnam mounts ‘unprecedented’ $24 billion rescue for bank engulfed in giant fraud, documents show
▼ + stars: | 2024-04-17 | by ( ) www.cnbc.com time to read: +5 min

Foreign reserves were around $100 billion at the end of the year, according to the central bank. The central bank did not reply to requests for comment about the rescue effort. The finance ministry referred a question to the central bank. The central bank placed SCB under its supervision to stem a run on the bank sparked by the October 2022 arrest of real estate tycoon Truong My Lan. That was up from 478 trillion dong at the end of October, according to the SCB document that was sent to the central bank.

Persons: Truong My, Truong, Lan Organizations: AFP, Getty, Stock Commercial Bank, Reuters, ASEAN, Research, SCB, State Bank of, Bank Locations: Ho Chi Minh City, Vietnam, Saigon, State Bank of Vietnam's, People's

☆ China has a problem with electric cars, and that's bad news for Elon Musk
▼ + stars: | 2024-04-05 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Read previewBYD and Tesla both posted anemic first-quarter sales this week, serving up a reminder that demand for electric cars appears to be stalling around the world. China, the world's largest EV market, hasn't been immune to the slowdown. Goldstein said that's a sign he knows Tesla can't win the price war and remain profitable. Bloomberg reported that it recently reduced production to five days a week from 6 ½ days, in a sign of waning demand for its cars in China. AdvertisementIf China joins the US in loving EVs a little less, both Tesla and BYD could be in for a difficult 2024.

Persons: —, Tesla, anemic, hasn't, Seth Goldstein, Morningstar, Elon Musk, Goldstein, that's, BYD Organizations: Service, Car Association, Bloomberg, Business, Tesla, China, Alliance Locations: China, Tesla's, Shanghai

☆ China has a problem with electric cars and that's bad news for Elon Musk
▼ + stars: | 2024-04-05 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Read previewBYD and Tesla both posted anemic first-quarter sales this week, serving up a reminder that demand for electric cars appears to be stalling around the world. China, the world's largest EV market, hasn't been immune from the slowdown. Related storiesCEO Elon Musk appears to have backed away from the price cuts strategy this year, however. There are plenty of public charging stations — about 2.7 million as at the end of 2023, according to the China Electric Vehicle Charging Infrastructure Promotion Alliance. AdvertisementIf China joins the US in loving EVs a little less, both Tesla and BYD could be in for a difficult 2024.

Persons: —, Tesla, anemic, hasn't, That's, Seth Goldstein, Morningstar, BYD, Elon Musk, Goldstein Organizations: Service, Car Association, Bloomberg, Business, Tesla, China, Alliance, BYD Locations: China, Tesla's, Shanghai

☆ 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

☆ Logistics companies scramble after bridge collapse closes Port of Baltimore until further notice
▼ + stars: | 2024-03-26 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

The steel frame of the Francis Scott Key Bridge sits on top of the container ship Dali after the bridge collapsed, Baltimore, Maryland, on March 26, 2024. At the time of the collision, the vessel had two pilots from the Port of Baltimore on board. The steel frame of the Francis Scott Key Bridge lies in the water after it collapsed in Baltimore, Maryland, on March 26, 2024. "For cargo already on water, we will omit the port, and will discharge cargo set for Baltimore, in nearby ports. "The collapse of the Baltimore bridge primarily affects coal exports from CNX and CSX terminals," said Madeleine Overgaard, dry market data manager for the global trade data platform Kpler.

Persons: Francis Scott Key, Dali, Roberto Schmidt, Paul Brashier, Brashier, Goetz Alebrand, Wes Moore, Larry, Richard Meade, Meade, Kena Betancur, Andy Lipow, Lipow, Helen Delich Bentley, Judah Levine, Madeleine Overgaard, Levine, Tasos Katopodis Organizations: Afp, Getty Images Logistics, Port, Eastern Seaboard, ITS Logistics, Getty, Americas, DHL Global, Maryland Gov, Baltimore, AFP, Uber Freight, IKEA, Lipow Oil Associates, Maersk, Freightos, CSX, East, Francis Scott Key Bridge Locations: Baltimore , Maryland, Baltimore, New York, New Jersey, Norfolk, Port of Baltimore, Colombo, Sri Lanka, Port, American, Taicang Port, Suzhou, China's, Jiangsu, East Coast, Norfolk , Virginia, Maryland, Midwest, New England, Virginia, North East , Maryland, Gulf Coast, Philadelphia, Suez, CNX, Freightos, Asia, U.S

STR | AFP | Getty ImagesIn the race against Tesla for the global electric car market, Chinese automaker BYD is pushing hard overseas despite rising barriers to the U.S. market. Given policy uncertainty around Chinese EV exports to major markets like the U.S. and Europe, BYD is seeking to bolster overseas sales by moving production to regions perceived as more friendly. The U.S. has tried to support adoption of electric cars domestically, but sales penetration is well below that of China. EY predicts the electric car market in the region will grow exponentially to at least $80 billion a year in sales in the next decade. The rapid growth of BYD and other Chinese electric car companies has other automakers worried.

Persons: Tesla, BYD, Xiao Feng, Biden, it's, EY, Alvin Liu, Liu, BYD's, Sime Darby, Stella Li, Reuters BYD, Bill Russo, CNBC's, Li Organizations: AFP, Getty, Toyota, Counterpoint Research, Tesla, Sime, Americas, Reuters, Alliance for American Manufacturing, U.S Locations: Taicang Port, Suzhou, China's, Jiangsu, U.S, Shenzhen, Europe, Thailand, Brazil, Indonesia, Hungary, Uzbekistan, China, Marklines, Southeast Asia, Singapore, Philippines, Malaysia, Mexico, Americas, North America, United States, Canada, Washington

☆ Vanke: China scrambles to prevent another big property developer going bust
▼ + stars: | 2024-03-12 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Vanke’s stock soared in Hong Kong and Shenzhen following the reports of potential new financing. On Monday, Moody’s cut Vanke’s rating to Ba1, which is often referred to as a junk rating. Residential buildings being built by Vanke in Nanjing STR/AFP/Getty ImagesFounded in 1984 in Shenzhen, Vanke is a flagship company in China’s property sector. It was the first listed property company in mainland China, boasting a high-profile IPO in 1991 on the still-nascent Shenzhen Stock Exchange. In 2023, property sales dropped 6.5% from 2022.

Persons: Moody’s, China Vanke, Vanke, Kaven Tsang, Fitch, Wang Shi, Donald Trump, Refinitiv Eikon, Vanke’s, it’s, —, Ni, ”, ” Nomura Organizations: Hong Kong CNN, Economic Observer, CNN, Getty, Time, Shenzhen Stock Exchange, Shenzhen Metro, National People’s Congress Locations: China, Hong Kong, Beijing, Evergrande, Shenzhen, Nanjing, Vanke

☆ Problems in China have US intelligence worried the rising military power may become 'even more aggressive and unpredictable'
▼ + stars: | 2024-03-12 | by ( Chris Panella | ) www.businessinsider.com time to read: +5 min

China may act "even more" aggressively and unpredictably thanks to its domestic problems, US intel said. China's demographic issues, as well as economic challenges, put its leadership and military in difficult positions. US intel suggested China's global leadership and military ambitions are meeting resistance. AdvertisementAs China grapples with mounting domestic challenges, its already concerning behavior on the world stage may become even more aggressive and unpredictable, according to US intelligence. "China's serious demographic and economic challenges may make it an even more aggressive and unpredictable global actor," the threat assessment said.

Persons: —, Xi Jinping, Yang Jie, That's Organizations: intel, Service, US Intelligence Community, National Intelligence, Pentagon, People's Liberation Army Navy, Getty, Democratic Progressive Party's, East China, East China Seas, Liberation Army, Chinese Communist Party, CCP, Force Locations: China, United States, China's, Zhanjiang, Guangdong Province, Xinhua, Taiwan, Beijing, South, East, East China Seas, Philippine, PRC, People's Republic of China, Hefei, Anhui province, COVID

☆ Gaza aid corridor from Cyprus could start this weekend, says EU president
▼ + stars: | 2024-03-08 | by ( ) www.cnbc.com time to read: +3 min

The European officials and Canada's Prime Minister are visiting the capital Kyiv on the second anniversary of the start of the Russian full-scale invasion in Ukraine. (Photo by STR/NurPhoto via Getty Images)A sea corridor to take desperately needed aid from Cyprus to besieged Palestinians in Gaza could start this weekend, the European Union said on Friday. U.S. President Joe Biden said on Thursday that a temporary port would be built in Gaza to facilitate a flow of aid by sea, initially from Cyprus. "The maritime corridor can make a real difference ... but, in parallel, our efforts to provide assistance to Palestinians through all possible routes of course will continue," Von der Leyen said. Cyprus tested an on-island screening mechanism in January, when British and Cypriot aid for Gaza was dispatched to Egypt.

Persons: Ursula von der, Belgium Alexander De Croo, Giorgia Meloni, Canada Justin Trudeau, Ukraine Volodymyr Zelensky, Joe Biden, Ursula von der Leyen, Nikos Christodoulides, Von der Leyen, Sheikh Mohammed bin Zayed Al Nahyan, Christodoulides Organizations: Canada's, Getty, European Union, Cypriot, United, United Arab Emirates, United Nations, EU Locations: Belgium, Italian, Canada, Ukraine, Kyiv, Russian, Cyprus, Gaza, Cypriot, Larnaca, United Arab, Palestinian, EU, UAE, United States, Christodoulides, Egypt

☆ A W-2 employee who used real estate to reduce federal taxes on his $300,000 salary by 99% explains how to pick the right property to qualify for the tax loophole and maximize deductions
▼ + stars: | 2024-03-02 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

By then, he had sold his short-term rental property for a profit, but he still owned other long-term rentals. Therefore, they used the real-estate professional status and bonus depreciation to reduce their taxable income. The main one is through the short-term rental tax loophole (STR loophole). For example, Eileen pointed to Henderson, Nevada, which won't allow a short-term rental permit for a house if there is a permit for an existing short-term rental within 1,000 feet. Deductions would cancel out the taxes owed from the property's revenue, and what is left will reduce your W2 taxable income.

Persons: Michael Hyun, Joshua, Hyun, Eileen Kim, Eileen's, Michael, Brandon Ford, Eileen, Ford, Michael said, you'll Organizations: Business, CPA, IRS, Tax Relief, American Families and Workers Locations: Joshua Tree , California, New York City, San Francisco, Santa Monica , California, Henderson , Nevada, San Jose , California, Alameda County

☆ Leaders should consider using frozen Russian assets to bolster Ukraine’s military, EU's von der Leyen says
▼ + stars: | 2024-02-28 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

The European officials and Canada's Prime Minister are visiting the capital Kyiv on the second anniversary of the start of the Russian full-scale invasion in Ukraine. (Photo by STR/NurPhoto via Getty Images)European leaders should discuss using the profits from frozen Russian assets to boost Ukraine's military in its defence efforts against Moscow, European Commission President Ursula von der Leyen said Wednesday. "It is time to start a conversation about using the windfall profits of frozen Russian assets to jointly purchase military equipment for Ukraine," she said in a speech before the European Parliament. "There could be no stronger symbol and no greater use for that money than to make Ukraine and all of Europe a safer place to live," von der Leyen noted. Crucially, frozen assets are, by definition, temporarily retained rather than fully seized with the ability for reallocation.

Persons: Ursula von der, Belgium Alexander De Croo, Giorgia Meloni, Canada Justin Trudeau, Ukraine Volodymyr Zelensky, Ursula von der Leyen, von der Leyen, Von der, Janet Yellen, Russia's Organizations: Canada's, Getty Images, European Union, Treasury, . Security, Bank Locations: Belgium, Italian, Canada, Ukraine, Kyiv, Russian, Moscow, Europe, Kuwait

☆ Economic boost from Taylor Swift's Eras Tour could be overstated, Nomura warns
▼ + stars: | 2024-02-23 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

The devil's in the details, but local economies have a friend in Taylor Swift. Her tour undoubtedly helped the local economies she visited, according to a new report out from Japanese investment bank Nomura. From that, the consumer price index for the Illinois city increased 0.5 percentage points from the singer's visit alone. Internationally, small economies such as Singapore and Sweden could see the biggest macro boosts from her tour, according to Toh. Swift's tour is set to conclude near the end of 2024.

Persons: Taylor Swift, Nomura, Si Ying Toh, Toh Organizations: Federal Reserve, Wall, Nomura, Disney, CNBC PRO Locations: American, Chicago, U.S, Illinois, Japan, Singapore, Sweden

☆ A W-2 employee explains how he used real estate to reduce federal taxes on his $300,000 salary by 99% — plus a 2-step process to qualify for the deductible
▼ + stars: | 2024-02-17 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

Not everyone qualifies for bonus depreciation deductions by default. “Any property could qualify for accelerated and bonus depreciation,” said Brandon Ford, a CPA and finance director at C3, a real-estate investment firm. Determining the deductibleOnce you qualify for the deduction, you must determine how much you can claim from bonus depreciation. To determine what Michael could deduct, he reviewed his property tax statement, a publicly available record on the county website. In order to qualify for bonus depreciation, he ordered a cost segregation study, which is a third-party service similar to an appraisal.

Persons: Michael Hyun, Eileen, Michael, what’s, ”, Eileen’s, Brandon Ford, Michael said, Ford, ” Ford, Hyun, —, That's Organizations: Business, Bay Area, IRS, CPA Locations: California, Bay, Alameda County

☆ Las Vegas hopes to hit the jackpot with the Super Bowl
▼ + stars: | 2024-02-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +10 min

CNN —When Super Bowl Sunday rolls around each year — whether it’s in Miami, New Orleans, Los Angeles or Minneapolis — Las Vegas still draws the crowds. It took years — and a Supreme Court ruling legalizing sports betting — for the National Football League to view Las Vegas in a different light. “We’re sold out, have been for the last month,” said Paul Hobson, general manager of the Sahara Las Vegas hotel-casino. “Las Vegas has a lot of people going there for Super Bowl weekend anyway,” Stephenson said. Additionally, the visitors it attracts spend a whole lot more than the ones who would show up on your typical Super Bowl weekend, Hill said.

Persons: they’ve, Steve Hill, ” Hill, “, Hill, We’re, ”, Paul Hobson, It’s, Aaron J, Thornton, famer Michael Irvin, ” Hobson, Noel Bowman, you’re, ” It’s, Bowman’s, “ We’ve, Vince Lombardi, Ethan Miller, Frank Stephenson, ” Stephenson, Kirby Lee, “ We’re, “ That’s, Winston Fisher, David Farris, Café Lola, George Kittle, Travis Kelce, Lin Jerome, Lola, Alexandra Lourdes, “ It’s, Felicia Parker, she’s, Parker, it’s, Harry Reid Organizations: CNN, Minneapolis —, Football, Super, Las Vegas Convention, Visitors Authority, Las Vegas, National Football League, Playmakers Party, FHM, famer, NFL, Sunday, Visitors, Las, Super Bowl, Priceline, Berry College, of Sports Economics, USA, Reuters, Bowl, Business Connect, ”, Harry, Harry Reid International Airport Locations: it’s, Miami , New Orleans, Los Angeles, Minneapolis, Vegas, Sin City, Las Vegas, Sahara, Mandalay Bay, Mount Berry , Georgia

☆ China vows to help its EV champions succeed overseas despite threats of sanctions
▼ + stars: | 2024-02-07 | by ( Laura He | ) edition.cnn.com time to read: +3 min

On Wednesday, China’s Commerce Ministry posted a document signed late last year by nine government agencies, including the Foreign Ministry and the central bank, vowing to support Chinese EV makers with their globalization push. It also encouraged Chinese EV companies to cooperate with foreign manufacturers in technology and build supply chains that can benefit everyone. Chinese EV makers are taking the world by storm, even if they are largely locked out of key markets like the United States. Chinese EV makers are seeking alternative growth engines overseas because the picture is gloomy at home. The flood of cheaper Chinese vehicles has triggered trade tensions with some countries.

Persons: “, Biden Organizations: Hong Kong CNN, China’s Commerce, Foreign Ministry, Chinese EV, Getty, EV, China Association of Auto Manufacturers, European Commission, Wall Street Locations: China, Hong Kong, Europe, United States, Chinese, China's Shandong, Australia, Southeast Asia, Japan, Shenzhen, Hungary

☆ 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

☆ Pope Francis takes on vested interests to speak out on humanitarian crises
▼ + stars: | 2024-01-23 | by ( Analysis Christopher Lamb | ) edition.cnn.com time to read: +18 min

Pope Francis received an emotional welcome on the island during a visit showing solidarity with migrants fleeing war and poverty. ARIS MESSINIS/AFP/Getty Images Pope Francis confesses in St. Peter's Basilica during the Vatican's Penitential Celebration on Friday, March 4, 2016. Alessandro Di Meo/AP Pope Francis arrives for his visit with prisoners in Santa Cruz, Bolivia, on Friday, July 10, 2015. Franco Origlia/Getty Images Pope Francis and Ecumenical Patriarch Bartholomew I address the faithful in Istanbul on Sunday, November 30, 2014. Gokhan Tan/Getty Images Pope Francis speaks during the feast-day Mass while on a one-day trip to Italy's Calabria region in June 2014.

Persons: Pope Francis, Cardinal Michael Czerny, Francis, “, ”, Regina Coeli, Vincenzo Pinto, Juan Manuel Santos, Santos, Alessandra Tarantino, L'Osservatore Romano, VINCENZO PINTO, Simon Bar Sabbae, Pope, FILIPPO MONTEFORTE, Karekin, TIZIANA FABI, Giuseppe Ciccia, MAX, Pope Francis tries, Pope Benedict XVI, Alessandro Di Meo, Evo Morales, OSSERVATORE ROMANO, Vladimir Putin, Putin, Federico Lombardi, Lombardi, Gregorio Borgia, Getty Pope Francis, Raul Castro, Castro, GABRIEL BOUYS, ANDREAS SOLARO, Kurukkal SivaSri, Mahadeva, Pope Francis in, Eranga, Franco Origlia, Bartholomew I, Gokhan Tan, San Gregorio Magno, Queen Elizabeth II, Prince Philip , Duke of Edinburgh, Oli Scarff, Barack Obama, SAUL LOEB, Santa Sabina, Max ROSSI, Daniele De Sanctis, Pope Francis ', FABIO FRUSTACI, Benedict XVI, Benedict, L'OSSERVATORE ROMANO, Osservatore Romano Pope Francis, Vinicio Riva, Riva, CLAUDIO PERI, Rainbow Association Marco Iagulli Onlus, Fotografia, Father Don Renzo Zocca, Osservatore Romano, LUCA ZENNARO, Jorge Saenz, Dan Kitwood, Jesus, Internationalis Paulus VI, Argentine Cardinal Jorge Mario Bergoglio, Roman Catholic Church's, Peter Macdiarmid, Pope Francis Prev, it’s, He’s, Filippo Monteforte, Donald Trump’s, Czerny, Trump, Donald Trump, Melania, Evan Vucci, Reuters “, ” Cardinal Czerny, Cardinal Czerny, doesn’t, Francis ’, “ Jesus Organizations: CNN, Getty Images, Colombian, Revolutionary Armed Forces, International Catholic Rural Association, Vatican, AFP, Getty, Catholic Chaldean, St, Mercy, ARIS MESSINIS, MAX ROSSI, Getty Images Bolivian, Cuban, Sunday, Queen, getty, Rainbow Association, Renault, Catholic, Roman Catholic, Intelligence, Warner Bros, Discovery, “, Republican, Reuters Locations: St, AFP, Colombia, Rome, Tbilisi , Georgia, Auschwitz, Birkenau, Poland, Etchmiadzin, Yerevan, Armenia, Vatican City, Moria, Lesbos, Peter's, Mexican, Havana, Cuba, Mexico, Santa Cruz , Bolivia, South America, Ecuador, Paraguay, La Paz, Bolivia, Italian, Ukraine, Iraq, Syria, Havana and Washington, Vatican, Pope Francis in Colombo, Sri Lanka, Istanbul, Italy's Calabria, Jerusalem's Old City, Argentina, Roman Parish, San, Rome's, Santa, Brazil, Rio de Janeiro, Argentine, America, Gaza, Nove, Lampedusa, Italy, Ciampino, Czechoslovakia, Canada, United States, Africa

☆ Bank of Japan expectedly retains its ultra-loose policy, cuts core inflation estimate
▼ + stars: | 2024-01-23 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Bank of Japan governor Kazuo Ueda gestures as he speaks during a press conference following a monetary policy meeting at the Bank of Japan's headquarters in Tokyo on July 28, 2023. The Bank of Japan on July 28 eased its grip on its ultra-loose monetary policy in a small step towards normalisation as inflation accelerates and the yen comes under pressure against other major currencies. (Photo by JIJI Press / AFP) / Japan OUT (Photo by STR/JIJI Press/AFP via Getty Images)The Bank of Japan expectedly retained its ultra-loose monetary policy at its first meeting this year, while cutting its core inflation forecast for the next fiscal year. All the economists surveyed by Reuters expected the Japanese central bank to maintain its negative rate policy this month — making the BOJ the world's only central bank with negative rates. The central bank also marginally increased the core CPI inflation estimate for fiscal 2025 to 1.8% from 1.7% forecast earlier.

Persons: Kazuo Ueda, Bank of Japan expectedly, BOJ Organizations: Japan, Bank of Japan's, The Bank of Japan, JIJI Press, Getty, Bank of Japan, Reuters Locations: Tokyo, AFP, Japan

☆ BYD: Why Hungary and Mexico could be key to the Chinese carmaker’s global domination
▼ + stars: | 2024-01-19 | by ( Michelle Toh | ) edition.cnn.com time to read: +9 min

The cars come from BYD, the Chinese carmaker that is backed by Warren Buffett and has surpassed Tesla as the world’s biggest seller of electric vehicles (EVs). 1," a shipping carrier vessel intended to export BYD vehicles, at Yantai port in eastern China's Shandong province in January. BYD Mexico did not respond to a request for comment. “The US government is not going to like that Mexico is creating a back door.”A BYD electric vehicle, operated by Vemo taxi, in Mexico City in November. But as it continues to grow overseas, BYD will have to take a more localized approach, analysts say.

Persons: Warren Buffett, Tesla, BYD, Viktor Orbán’s, Yucatán, what’s, Elon Musk, Tu Le, carmaker, Hungary —, Matthias Schmidt, ”, “, Schmidt, Bill Russo, it’s, Le, Mariceu Ethrall, It’s, “ It’s, ‘ We’re, ’ ”, Stella Li, México, ” Li, Wang Chuanfu, BYD “, Russo, they’ve, ” Russo Organizations: Hong Kong CNN, Xinhua, Getty, CNN, Tesla, BMW, Audi, European Union, Schmidt Automotive Research, EV, European Commission, Bloomberg, BYD, El Locations: Hong Kong, China, Europe, BYD, Shenzhen, Germany, Netherlands, Hungary, Mexico, North America, China's Shandong, Szeged, Komárom, France, Shanghai, Hungarian, United States, Canada, Mexico City, Mexican, Dutch, Rotterdam, California, Brazil, Indonesia, Thailand, Uzbekistan, Macao, Taiwan, Japan, what’s

☆ The 'crown jewel' of the Chinese military appears to have a serious corruption problem, but the US can't afford to bet on its missiles all being defective
▼ + stars: | 2024-01-14 | by ( Chris Panella | ) www.businessinsider.com time to read: +11 min

Recent reports point to corruption and readiness problems in the Chinese military, the rocket force in particular. In the aftermath of the report, an ex-PLA official told Radio Free Asia problems like this have long been rampant in the Chinese military. The rocket force shakeups suggest that there are questions over who can be trusted. Xinhua/Cha Chunming via Getty ImagesConcerns about corruption and readiness stand in contrast with the modernization and strengthening of the Chinese military. Is the PLA, particularly the rocket force, the increasingly formidable force the Pentagon described in a military power report last October?

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