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☆ The world’s biggest capital cities are heating up – and Asia tops the charts
▼ + stars: | 2024-06-27 | by ( Lex Harvey | ) edition.cnn.com time to read: +6 min

Beijing Meteorological Observatory issued the first yellow alert for high temperatures in 2024, with the highest temperature in the city reaching 35 degrees Celsius. New Delhi topped the list of hottest cities, recording 4,222 days above 35 degrees Celsius in the past three decades – more than any other city analyzed. In 2018, Seoul saw 21 days over 35 degrees Celsius — more than the previous 10 years combined. Beijing’s number of days over 35 degrees has increased by 309% since 1994. In October 2023, Jakarta experienced 30 consecutive days over 35 degrees Celsius — more days than during the entire period between 1994 and 2003.

Persons: –, ”, Tucker Landesman, there’s, “ We’ve, Kalyani Saha, “, Anthony Wallace, CNN he’d, Sagar, Young, Parveen Kumar Organizations: Hong Kong CNN, International Institute for Environment, Development, Egypt’s, “, Palace Museum, Beijing Meteorological Observatory, CNN, Getty, NGO Centre, Health Development India, Hindustan Times, Dartmouth Locations: Hong Kong, Asia, Buenos Aires, Argentina, Paris, Egypt’s Cairo, Beijing, China, Southeast Asia, India, New Delhi, Delhi, Lajpat Nagar, South East Delhi, Seoul, AFP, Jakarta, South Korea, rehydrate, Gurugram

☆ Chinese automakers expected to achieve 33% global market share by 2030
▼ + stars: | 2024-06-27 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Much of the growth, from a forecast 21% market share this year, is expected to come outside of China. The rapid expansion of Chinese automakers is a growing concern for legacy automakers and politicians globally. In North America, Chinese automakers are forecast to only achieve a 3% market share, largely in Mexico, where one in five vehicles are expected to be Chinese brands by 2030. In most other major regions of the world, AlixPartners reports that the share of Chinese automakers is expected to exponentially grow. Chinese brands in China also are expected to grow from 59% to 72% in market share, according to AlixPartners.

Persons: AlixPartners, Mark Wakefield Organizations: Auto Guangzhou, China Import, Export, Visual China, Getty Images, AlixPartners, General Motors, Nurphoto, Getty Locations: Guangzhou, Guangdong Province of China, China, Japan, North America, U.S, AlixPartners, Mexico, Central, South America, Southeast Asia, East, Africa, Bangkok, Nonthaburi Province, Thailand

☆ China’s deadly flooding moves north prompting top rainstorm alert
▼ + stars: | 2024-06-25 | by ( Lex Harvey | Fred He | ) edition.cnn.com time to read: +4 min

The region has been battered by heavy rainfall over the last week, causing deadly flooding and landslides that have killed at least 71 people, according to Chinese state media. Southern Guangdong province, an economic powerhouse home to 127 million people, is subject to annual flooding from April to September. Floodwaters immerse a rural road in Chongzuo, southern China, on June 23, 2024. An excavator works at the site of a landslide in Guizhou province, China on June 24, 2024. Local rivers rose a record 4.59 meters (15 feet), according to Chinese state broadcaster CGTN.

Persons: VCG, John Ricky, Xi Jinping Organizations: Hong Kong CNN, Publishing, China’s Meteorological Administration, Flood, Drought Relief, CGTN, Emergency, Reuters, Getty, CCTV Locations: Hong Kong, China, Southern Guangdong province, Guangdong, Hunan, Chongzuo, Chongqing province, Zhejiang, Hubei, Anhui, China’s, Jiangxi, Guizhou province, Changsha, Local, –, Meizhou, Guangdong province, Yuanlin county, Taoyuan county

☆ China wants EU to scrap planned higher tariffs and 'abide by WTO rules,' state media reports
▼ + stars: | 2024-06-24 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

GUANGZHOU, CHINA - NOVEMBER 17: A GAC Aion Hyper SSR electric sports car is on display during the Auto Guangzhou 2023 at China Import & Export Fair Pazhou Complex on November 17, 2023 in Guangzhou, Guangdong Province of China. The ideal outcome China wants is for the European Commission to revoke its tariff decision by July 4 and adhere to World Trade Organization rules, Global Times reported, quoting observers. China has firmly opposed the tariffs, saying the move was "blatant protectionism" and could violate WTO rules, its commerce ministry said on June 14. A Chinese official told CNBC last week that the EU's probe into Chinese EVs was overly selective and that the results were not credible. Read the full report on Global Times.

Persons: Chen Yihang, Wang Wentao, Valdis Dombrovskis, EVs Organizations: Auto Guangzhou, China Import, Export, Getty Images, Union, Global Times, European Commission, World Trade Organization, EV, CNBC Locations: GUANGZHOU, CHINA, Guangzhou, Guangdong Province of China, China, Beijing

☆ This technology could transform one of the world’s dirtiest industries. Experts say it’s way off pace
▼ + stars: | 2024-06-23 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +11 min

This complex will be world’s first large-scale “green steel” project, according to H2 Green Steel, the Swedish company behind the multi-billion-dollar mill. Dhiraj Singh/Bloomberg/Getty ImagesWhile projects like H2 Green Steel show momentum is growing, experts say the pace is far too slow. Northern Sweden is also home to the HYBRIT green steel pilot plant — which is one step ahead. US Secretary of State Antony Blinken speaks during a visit to Hybrit Steel Plant in Lulea, Sweden, on May 30, 2023. But there’s also the challenge of producing large amounts of green hydrogen, which will require huge amounts of renewable energy.

Persons: Peter Boer, Dhiraj Singh, ”, Mohamed Atouife, Daniel Acker, ” Atouife, HYBRIT, Biden, Antony Blinken, Jonas Ekstromer, Martin Pei, SSAB, ” Pei, Chathurika, Caitlin Swalec, Jonathan Nackstrand, Pei, there’s, –, Philipp Verpoort, “ It’s, Princeton’s, Swalec, Chris Greig, ” Greig, RMI’s Gamage Organizations: CNN, Green Steel, Tata Steel, Bloomberg, Getty, Rourkela Steel, Princeton University, Volvo, Hybrit Steel, TT, Agency, AFP, “, Mountain Institute, Global Energy Monitor, Potsdam Institute, Climate Impact, Potsdam, Princeton University’s Andlinger Center for Energy, Workers, Jiangsu Shagang, Co, European Union Locations: Sweden, Boden, Swedish, Wijk aan, Netherlands, Odisha, India, Indiana, Portage , Indiana, Northern Sweden, Cleveland, Ohio, Middletown, Mississippi, Lulea, Luleå, AFP, China, Europe, Japan, Jiangsu, Huai'an, Jiangsu Province, European

☆ 2028 L.A. Olympics unveil venue plan: Swimming in SoFi, softball in Oklahoma City
▼ + stars: | 2024-06-21 | by ( Lauren Merola | Mark Cooper | ) www.nytimes.com time to read: +5 min

Organizers for the 2028 Los Angeles Olympics plan to hold swimming in the home of the NFL’s Rams and Chargers — and softball and canoe slalom in Oklahoma. That’s according to an amended venue plan unveiled Friday by LA28, the 2028 Games’ organizing committee. It will be the largest swimming venue in Games history, per LA28, with 38,000 seats. LA28 organizers faced one complication with the SoFi swimming plan, however: The stadium is also set to be part of the Games’ opening ceremonies. The venue plan adjustments are in part due to new arenas that have become available for use and a previously assigned venue that became unavailable, LA28 said.

Persons: LA28, Katie Ledecky, “, ” Ledecky, Sarah Stier, Casey Wasserman, Brian Bahr, David Holt, ” Holt, ” Wasserman, Qian Weizhong Organizations: Olympics, NFL’s Rams, Chargers, Olympic Committee, SoFi, Lucas Oil, NFL, Olympic, New York Times, Athletics, Oklahoma City, USA Softball, International, Devon Park, Women’s, OGE Energy, Getty, IOC, Hollywood, Crypto.com Arena, Lakers, Kings, Sparks, Intuit, LA Clippers, USC’s Locations: Oklahoma, Inglewood , Calif, U.S, Indianapolis, Indianapolis , Indiana, Oklahoma City, Los Angeles, Devon, Okla, Paris, Lille, Tahiti, Long Beach, Calif, Exposition, Temecula , Calif, Sepulveda, L.A, Fernando Valley, Tokyo

What's next: Media Matters filed a motion to dismiss Musk's lawsuit in March, but a judge has yet to rule. VCG/GettyGovernment lawsuits and investigationsSEC investigation into Musk's Twitter takeoverThe issues: The Securities and Exchange Commission is investigating Elon Musk's Twitter purchase. Matt Winkelmeyer/Getty ImagesPersonal lawsuits against MuskTornetta v. MuskThe issues: Tesla shareholder Richard Tornetta sued Musk and Tesla in a class action lawsuit regarding Musk's compensation package, which was worth $55.8 billion at the time. Several lawsuits also allege Musk discriminated against them because of their race, gender, or disability in choosing to fire them. The executives were set to receive golden parachutes, but claim Musk and X have not paid them out.

Persons: —, Elon Musk, Musk, Claire Boucher, Grimes, Alex Spiro, Sam Altman, Donald Trump, Spiro, Anna Webber, Angelo Carusone, What's, Gina Carano, Schaerr Jaffe, Tesla, Musk's, Elon, SEC hasn't, Elon Musk's, who've, Owen Diaz, Matt Winkelmeyer, Richard Tornetta, Kimbal Musk, He's, Boucher, Benjamin Brody, Brody, Brody reverberated, Ben Brody, didn't, Robert Kaiden, Kaiden, he's, Agrawal, Parag Agrawal, Ned Segal, Twitter Vijaya Gadde, Sean Edgett, Segal, hadn't Organizations: Service, SpaceX, Business, OpenAI, SEC, Trump, Trump —, Elon, Variety, Media, X Corp, Disney, National Labor Relations Board, UAW, Tesla, Getty Government, Twitter, Securities, Exchange Commission, Justice Department, Reuters, Traffic, Administration, NHTSA, Apple, NLRB, Musk's SpaceX, US, Employment Opportunity, Musk, Nazi, Litigation Locations: Texas, Texas and Missouri, America, Nazi Germany, California, Delaware, San Francisco

☆ Relentless deadly rains lash southern China as flooding threatens millions
▼ + stars: | 2024-06-21 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Tens of thousands of people across southern China have been evacuated, with many more potentially at risk, as deadly torrential rains continue to lash the region, causing flash flooding and mudslides. Villager walks on muddy streets as torrential rains cause flooding on June 19, 2024 in Meizhou, Guangdong Province of China. Villagers clean rubbish as torrential rains cause flooding on June 19, 2024 in Meizhou, Guangdong Province of China. Aerial view of an area affected by torrential rains on June 18, 2024 in Sishui Town, Pingyuan County, Meizhou City, Guangdong Province of China. Villagers stand in the water as torrential rains cause flooding on June 19, 2024 in Meizhou, Guangdong Province of China.

Persons: John Ricky, Lian Zhicheng, Xi Jinping, Stringer Organizations: Hong Kong CNN, Villager, Getty Locations: Hong Kong, China, Meizhou, Guangdong Province of China, Guangdong, Fujian, Sishui Town, Pingyuan County, Meizhou City, Guangxi, Guilin, China's Guangxi, AFP

☆ New high-speed sleeper train service connects Hong Kong with Beijing and Shanghai
▼ + stars: | 2024-06-16 | by ( Maggie Wong | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Interested in capping off your trip to Hong Kong with a long weekend in Beijing or Shanghai? A new high-speed sleeper train service is making that possibility easier than ever. Return trips depart from Beijing and Shanghai at around 8 p.m. and arrive in Hong Kong at 8.47 a.m. and 7.29 a.m. A passenger with a child boards the high-speed sleeper train in Beijing for its inaugural journey to Hong Kong's West Kowloon Station. Jia Tianyong/China News Service/VCG/Getty ImagesHong Kong’s controversial high-speed railwayOpened in 2018, the 26-kilometer Hong Kong high-speed railway is a part of the larger Guangzhou-Shenzhen-Hong Kong Express Rail Link (XRL).

Persons: ” John Lee, Hong, Jia Tianyong Organizations: Hong Kong CNN, Hong Kong West Kowloon Station, China News Service, Passengers, China, ”, Hong, Hong Kong Express, Express Locations: Hong Kong, Beijing, Shanghai, Hong Kong West Kowloon, Kowloon, Hong, China, cn, China , Hong Kong, Guangzhou, Shenzhen

☆ The ‘New Chinese style’ trend isn’t exactly new, but it’s proving lucrative
▼ + stars: | 2024-06-16 | by ( Christy Choi | ) edition.cnn.com time to read: +8 min

On Chinese social media platforms Weibo and Xiaohongshu, searches for “new Chinese style” and “new Chinese style outfits” hashtags exceeded 100 million in early April, according to state news agency Xinhua. “There is no set rule in the ‘new Chinese style’ (trend) that you must follow, so it is more inclusive. Riding the ‘new’ Chinese style waveFashion designers like Samuel Gui Yang, whose collections have long taken inspiration from Chinese heritage, are seeing more interest from mainland China turn to their brands due to the “new Chinese style” trend. Designer Huang Weizhe, who goes by Azhe online, often posts ideas about how to embrace the "new Chinese style" trend. But some of the “new Chinese style” products are “shoddily made” she said, though she thinks that their designs will improve with time.

Persons: CNN —, Liang Ben, ”, didn’t, Momo, Xiaohongshu, Huang Weizhe, Huang, Samuel Gui Yang, ’, Chang, Yang, Ang Lee’s, “, Hong, Bruce Lee, Eileen Chang, Ian Hylton's, Ian Hylton, Tang, ” Hylton, Min Liu, Min, Hylton, Min “, China’s TikTok, shoddily Organizations: CNN, China News Service, Xinhua, China National Textile and Apparel, Shanghai Fashion, CCTV Locations: China, Shanghai, Beijing, Chengdu, Cao, Shandong, Weibo, London, Hong Kong, American, State, Shandong province

☆ China wants a fleet of aircraft carriers for pride and power, and it's building it at a breakneck pace
▼ + stars: | 2024-06-15 | by ( Chris Panella | ) www.businessinsider.com time to read: +9 min

Read previewChina is building a fleet of aircraft carriers, making technological and capability jumps at a breakneck pace. An aerial drone photo taken on May 1, 2024 shows China's third aircraft carrier, the Fujian, during its maiden sea trials. The aircraft carrier USS Gerald R. Ford transits the Strait of Gibraltar, Jan. 5, 2024. For China, having aircraft carriers allows it to enjoy many of those perks. A composite image shows the American flag flying near the bridge of the US Navy's first-in-class aircraft carrier USS Gerald R. Ford and the Chinese flag flying near China's aircraft carrier Shandong.

Persons: —, Pu, would've, Matthew Funaiole, Xi Jinping, Kyle Amonson, Dane Egli, Xi, Funaiole, Gerald R, Navy Petty, Jacob Mattingly, Trenton, Li Gang, Cmdr, Michael Dahm, Peter W, Singer, Guy Snodgrass Organizations: Service, Business, Ford, Getty, China Power, Center for Strategic, International Studies, Jiangnan Shipyard, Getty Images, People's Liberation Army, Communist Party, US Coast Guard, Pacific Affairs, Chinese Communist Party, US Navy, Navy, DoD Aircraft, South China Seas, Pacific, Communication, Trenton Edly, US, New America, Defense, PLA Navy's Locations: China, Fujian, Shandong, Liaoning, Xinhua, Getty Images China, Taiwan, People's Republic of China, Gibraltar, Jan, South, Beijing

☆ China is trying to overcome weaknesses in its military by 'aggressively recruiting' Western pilots to train its aviators, Five Eyes intel allies warn
▼ + stars: | 2024-06-05 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewChina is "aggressively recruiting" Western military personnel to train its air force pilots and naval aviators, attempting to lure them in with "lucrative" contracts and promises of opportunities to fly "exotic aircraft," the US and its allies are warning. Related storiesChinese schemes target Western pilots, flight engineers, air operations center personnel, and technical experts knowledgeable about military tactics, techniques, and procedures. The Chinese military "wants the skills and expertise of these individuals to make its own military air operations more capable while gaining insight into Western air tactics, techniques, and procedures," the newly released bulletin said. Advertisement"The insight the PLA gains from Western military talent threatens the safety of the targeted recruits, their fellow service members, and US and allied security," it added. Despite efforts from Western governments to warn its veterans and military personnel about the Chinese poaching efforts, the recruitment continues to evolve, the bulletin noted.

Persons: —, New Zealand —, Michael Casey, Chen Jimin, Casey, Wang Jingtian Organizations: Service, New Zealand, NATO, People's Liberation Army, Business, PLA, US National Counterintelligence and Security, Zhuhai Air Show, China News Service, Getty, US, Job, US Marine Corps Locations: China, Canada, Australia, New, Beijing, Washington, Changchun, China's Jilin Province

☆ US vs. Chinese aircraft carriers: How the world's top flattops stack up
▼ + stars: | 2024-06-01 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +16 min

Liaoning and ShandongAircraft carrier Liaoning set out for sea trials at Dalian shipyard with the help of tugboats. A J-15 fighter takes off from aircraft carrier Shandong during the combat readiness patrol and military exercises around Taiwan. Aircraft carrier USS Gerald R. Ford sails in the Adriatic Sea. China has no experience operating carrier catapults on its warships (though it did study carrier catapults when it purchased the decommissioned Australian carrier HMAS Melbourn from Canberra in 1985 under the guise of scrapping). AdvertisementChina's third aircraft carrier, the Fujian, docks in Shanghai with a Chinese flag seen in the foreground.

Persons: —, Kuznetsov, Pu, Gerald R, Ford, George H.W, George H.W . Bush, Smith, Jackson Adkins, John F, Kennedy, Doris Miller, Dwight D, Eisenhower, Jacob Mattingly, Li Gang, Timothy Heath, Heath, China's, Benjamin Brimelow Organizations: Service, US Navy, Business, Shandong Aircraft, Getty, People's Liberation Army Navy, Getty Images Fujian, EA, Jiangnan Shipyard, Getty Images, PLAN, Xinhua News Agency, Nimitz, Ford, Aircraft, Greyhound, Navy, Carrier, USS Enterprise, Pacific Fleet, Shandong, RAND Corporation, US, Global Affairs, Fletcher School of Law, Diplomacy, Modern, Institute Locations: Shanghai, Fujian, China, China's, Liaoning, Dalian, Shandong, Soviet, Ukraine, Taiwan, Xinhua, Getty Images China, George H.W ., Adriatic, Melbourn, Canberra, Sanya, Hainan Province, West

☆ China will restrict exports of some aviation, aerospace equipment to 'safeguard national security'
▼ + stars: | 2024-05-31 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

SHANGHAI, CHINA - DECEMBER 09: Captain Zhao Hongbing waves a Chinese national flag after the first C919 large passenger aircraft of China Eastern Airlines landed at Shanghai Hongqiao International Airport on December 9, 2022 in Shanghai, China. (Photo by Yin Liqin/China News Service/VCG via Getty Images)China on Thursday said it will restrict the exports of certain aviation and aerospace components and technologies starting July 1, citing the need to "safeguard national security." The new regulations seek to better protect national security and fulfill international obligations such as non-proliferation, a spokesperson from the Ministry of Commerce said in a statement. The notice was jointly announced with the General Administration of Customs as well as the Equipment Development Department of the Central Military Commission. Exports of items including equipment, software and technologies related to aerospace structural components, engine manufacturing and manufacturing of gas turbines will require export licenses.

Persons: Zhao Hongbing, Yin Liqin Organizations: China Eastern Airlines, Shanghai Hongqiao, China News Service, Getty Images, Ministry of Commerce, Administration of Customs, Equipment Development Department of, Central Military Commission Locations: SHANGHAI, CHINA, Shanghai, China

☆ How the Monaco Grand Prix became the most iconic F1 race
▼ + stars: | 2024-05-24 | by ( Gregory Leporati | ) www.businessinsider.com time to read: +8 min

The Monaco Grand Prix is the crown jewel of Formula 1, known for its glitz and glamour. In the decades since then, the Monaco Grand Prix has become the crown jewel of Formula 1 — and arguably the most famous race in the world. Senna's surprising defenseThat crash was a distant memory by 1992, as Senna unexpectedly claimed his fifth Monaco Grand Prix victory. While he didn't gain any victories during his Mercedes stint, he earned a pole position at his final Monaco Grand Prix at 43. Daniel Ricciardo celebrating his Monaco Grand Prix win in 2018.

Persons: —, it's, Bob Varsha, Varsha, Clive Rose, Zak Brown, McLaren, Lando Norris, It's, Juan Manuel Fangio, Alfa, Yves, Giraud Cabantous, Maurice Trintignant, Robert Manzon, Giuseppe Farina, Jackie Stewart, Stewart, Jackie, Ayrton Senna, Senna, Ayrton Senna's, Nigel Mansell, Brown, Mansell, Michael Schumacher's, Mercedes, Mark Webber, Schumacher, Daniel Ricciardo, Lewis Hamilton, Ricciardo, Dan Istitene, Charles Leclerc —, he's, Leclerc Organizations: Monaco, Service, Prix, ESPN, Miami Grand Prix, Indianapolis, Le, Alfa Romeo, Formula, Getty, Universal Pictures, Williams, Renault, Mercedes F1, Netflix, Monaco Grand Prix, Monaco —, Ferrari Locations: Monte Carlo, Monaco, Argentine, British

☆ Asia markets poised to climb ahead of China rate decision; key Japan data on deck this week
▼ + stars: | 2024-05-20 | 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 ImagesAsia-Pacific markets mostly rose Monday to kick-start a week packed with economic data from across the region. China, which laid out measures on Friday to boost its property market, will announce its one- and five-year loan prime rates later in the day. The five year LPR is a key reference rate for housing mortgages. Later this week, investors will also look to trade, inflation and business activity data out from Japan, while Singapore will release its April inflation data and final figures for its first-quarter gross domestic product.

Persons: Jiang Qiming Organizations: People's Bank of China, China News Service, Getty Images Locations: Beijing, China, Getty Images Asia, Pacific, Japan, Singapore

☆ The Mona Lisa was set in this surprising Italian town, geologist claims
▼ + stars: | 2024-05-17 | by ( Leah Dolan | ) edition.cnn.com time to read: +4 min

CNN —Leonardo da Vinci’s Mona Lisa — one of the most famous paintings in the world — is shrouded in mystery; from questions around the figures identity, to her puzzling, enigmatic expression. Now, at least one of the artwork’s secrets has been revealed, according to a geologist based in Italy. Ann Pizzorusso, who is both a geologist and an art historian specializing in Leonardo and the Renaissance era, believes she has deduced the location of the Mona Lisa using her geological expertise. “Because when the glacier moved it scoured out certain pieces of land.”Pizzorusso believes Lake Como, the glacial lake dating back around 10,000 years, is in the background of the Mona Lisa. “We don’t know who (Mona Lisa) is, some believe she was a rich Tuscan merchant’s wife,” she said, referring to a popular historical theory that proposes the figure was based on Italian noblewoman Lisa Gherardini.

Persons: CNN — Leonardo da Vinci’s Mona Lisa —, Ann Pizzorusso, Leonardo, Mona Lisa, Pizzorusso, “, ”, VCG Wilson, Mona, there’s, ” Pizzorusso, titoslack, “ Botticelli, Michelangelo, Lisa Gherardini, Said, “ I’m Organizations: CNN, Italy —, Como Locations: Italy, Lecco, Lake Como, Windsor , London, Bobbio, Arezzo, Tuscany

☆ China's economy reveals pockets of softness. Here's what to watch ahead of Friday's data
▼ + stars: | 2024-05-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

The National Bureau of Statistics is due to release data on retail sales, industrial production and fixed asset investment for April on Friday. Some of the weakness speaks to genuine sluggish demand in China at present. The firm expects this week's economic data releases to show a "softening in economic momentum," affirming its forecasts for the central bank to cut rates by the end of June. "Some of the weakness speaks to genuine sluggish demand in China at present," said Hui Shan, Goldman Sachs' China chief economist, in a note Sunday. Businesses' loan demand fallsNew bank loans to businesses and government organizations dropped sharply in April from March, as did new loans to households, according to official data accessed through Wind Information.

Persons: Hui Shan Goldman Sachs, Louise Loo, Goldman Sachs, Hui Shan, Goldman, RRR, Pan Gongsheng Organizations: Visual China, Getty, BEIJING, National Bureau, Statistics, Reuters, Finance, Oxford Economics, People's Bank of, Information, Clocktower, CNBC Locations: Lianyungang, Jiangsu Province, China, —, Beijing, People's Bank of China

☆ Malaysia’s ‘orangutan diplomacy’ plan slammed as ‘obscene’
▼ + stars: | 2024-05-11 | by ( Heather Chen | ) edition.cnn.com time to read: +6 min

Halved oil palm kernels are seen on the trade floor of a commodities conference and exhibition in Kuala Lumpur. “Orangutan diplomacy will not solve Malaysia’s deforestation crisis,” Heng Kiah Chun, a regional campaign strategist for Greenpeace Southeast Asia, told CNN. By 2012, their numbers had dropped by almost two-thirds, to 104,700 and the decline has continued,” the WWF report said. Therefore it is crucial that all remaining orangutan habitats are conserved,” WWF Malaysia told CNN in a statement. “Orangutan conservation is best achieved by ensuring the protection and conservation of their natural habitats – and that no further forest conversion into palm oil plantations is allowed.”

Persons: ”, Johari Abdul Ghani, ” Ghani, Tengku Bahar, ” Stuart Pimm, Pimm, Ghani, ” Heng Kiah Chun Organizations: CNN, Getty, Duke University, Malaysia’s Ministry of, Commodities, Chengdu Research Base, Visual China, Malaysian, World Wildlife Fund, WWF, Rimba, Greenpeace Southeast, CNN Conservation, WWF Malaysia Locations: China, Australia, Malaysia, Asia, Indonesia, Kuala Lumpur, Beijing, Malaysian, EU, India, Tengku, AFP, South Carolina, Greenpeace Southeast Asia, WWF Malaysia, Borneo, Brunei, “

☆ China's biggest chipmaker SMIC warns of 'fierce' competition as it misses quarterly profit expectations
▼ + stars: | 2024-05-10 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

BEIJING, CHINA - DECEMBER 04: A logo hangs on the building of the Beijing branch of Semiconductor Manufacturing International Corporation (SMIC) on December 4, 2020 in Beijing, China. (Photo by VCG/VCG via Getty Images)Semiconductor Manufacturing International Corporation on Friday warned of intense competition in the chip industry after its first-quarter profit missed expectations. "Competition in the industry has been increasingly fierce and the pricing for commodity products basically follows the market trends," SMIC said on Friday during the firm's earnings call. SMIC, China's biggest contract chip manufacturer, is seen as critical to Beijing's ambitions of cutting foreign reliance in its domestic semiconductor industry as the U.S. continues to curb China's tech power. Revenue for the first quarter was $1.75 billion, up 19.7% from a year earlier, as customers stocked up on chips, SMIC said.

Persons: SMIC Organizations: Semiconductor Manufacturing International Corporation, Getty, Samsung Electronics, Revenue Locations: BEIJING, CHINA, Beijing, China, U.S, South

☆ Macklemore criticizes Biden in new song supporting pro-Palestinian student protests
▼ + stars: | 2024-05-08 | by ( Scottie Andrew | ) edition.cnn.com time to read: +17 min

Across the US, pro-Palestinian protesters have been occupying lawns and buildings on campuses, and many are requesting that their universities divest from Israel. Nic Antaya/Getty Images Pro-Palestinian protesters demonstrate on the New York University campus in New York on Friday, May 3. Before police were deployed to campus, pro-Palestinian protesters and Israel supporters were clashing at the school , according to multiple reports. Joseph Prezioso/AFP/Getty Images Columbia University students gather for a picket organized by the Student Workers Union (UAW Local 2710) on Monday, April 29. Stefan Jeremiah/AP Israeli flags are reflected in the sunglasses of a demonstrator in front of Columbia University on April 22.

Persons: Macklemore, Joe Biden, ” Macklemore, Donald Trump, Columbia’s Hamilton, Hind Rajab, Hind, who’ve, ”, He’s, Biden, Jon Batiste, Selena Gomez, Annie Lennox, “, Melissa Overton, Nic Antaya, Seth Harrison, Jenny Kane, Chip Somodevilla, Mathieu Lewis, Rolland, Craig Hudson, Emma, Roberto Schmidt, Etienne Laurent, Mike Blake, Spencer Platt, Frederic J . Brown, Caitlin Ochs, David Dee Delgado, Charly Triballeau, Kena Betancur, Seyma, Alex Kent, Joseph Prezioso, Suzanne Cordeiro, Diane Handal, Cliff Owen, Qian Weizhong, Mike Stewart, Sarah Reingewirtz, Jay Janner, Brandon Bell, Brian Snyder, Mike Johnson, Timothy A, Clary, Matthew Hatcher, Nuri Vallbona, Jordan Vonderhaar, Zaydee Sanchez, Cameron Jones, Stephanie Keith, Andres Kudacki, Tayfun, Joe Buglewicz, Fatih Aktas, Michael M, Mary Altaffer, Scott Eisen, Columbia's, Stefan Jeremiah, Selcuk, Seattle concertgoers, Seth Rogen Organizations: CNN, Columbia University, Biden, University of California, University of Arizona, Dua Lipa, Scottish, United Nations Relief, Works Agency for Palestine Refugees, Hamas, Protesters, University of Michigan's, New York University, Westchester County Journal, USA, Network Police, Portland State University, AP, George Washington University, Getty, The George Washington University, Israel, AFP, Police, UCLA, Reuters, Fordham, Lincoln Center, Getty Images Police, Hamilton, Reuters Police, Columbia, The City College of New, Getty Images, Columbia Students, Justice, Hamilton Hall, Brown University, Getty Images Columbia University, Student Workers Union, UAW, University of Texas, Low, Sunday, Rueters Georgia State Patrol, Emory University, MediaNews, Los Angeles Daily News, Austin Statesman, Network, Austin, University, Emerson College, Swarthmore College, Bloomberg, University of Southern, Reuters New York, Reuters Columbia, New York Times, Sproul Hall, Yale University, University police, York University, The New School, Massachusetts Institute of Technology, Library, Seattle, Trump Locations: Gaza, Israel, University of California Los Angeles, Palestine, Dua, Ann Arbor , Michigan, New York, Westchester, Portland , Oregon, Washington ,, Portland, The, Los Angeles, AFP, The City College of New York, Columbia, Columbia's, Providence , Rhode Island, Texas, Austin, New, Rueters Georgia, Atlanta, Getty Images Texas, Boston, Swarthmore , Pennsylvania, University of Southern California, Berkeley, Sproul, Anadolu, New Haven , Connecticut, Cambridge, Washington

☆ A high-stakes report looms over Biden on whether Israel violated international law
▼ + stars: | 2024-05-07 | by ( Kylie Atwood | Jennifer Hansler | ) edition.cnn.com time to read: +19 min

Nic Antaya/Getty Images Pro-Palestinian protesters demonstrate on the New York University campus in New York on Friday, May 3. Mike Blake/Reuters Pro-Palestinian protesters stand their ground after police breached their encampment at UCLA on May 2. Before police were deployed to campus, pro-Palestinian protesters and Israel supporters were clashing at the school , according to multiple reports. Joseph Prezioso/AFP/Getty Images Columbia University students gather for a picket organized by the Student Workers Union (UAW Local 2710) on Monday, April 29. Stefan Jeremiah/AP Israeli flags are reflected in the sunglasses of a demonstrator in front of Columbia University on April 22.

Persons: CNN —, Biden, Joe Biden, Benjamin Netanyahu, Antony Blinken, “, Matthew Miller, Adam Schultz, Netanyahu, Israel, Mahmud Hams, It’s, ”, Democratic Sen, Chris Van Hollen, Sen, Alex Brandon, Van Hollen, Miller, ” Miller, Melissa Overton, Nic Antaya, Seth Harrison, Jenny Kane, Chip Somodevilla, Mathieu Lewis, Rolland, Craig Hudson, Emma, Roberto Schmidt, Etienne Laurent, Mike Blake, Spencer Platt, Frederic J . Brown, Caitlin Ochs, David Dee Delgado, Charly Triballeau, Kena Betancur, Seyma, Alex Kent, Joseph Prezioso, Suzanne Cordeiro, Diane Handal, Cliff Owen, Qian Weizhong, Mike Stewart, Sarah Reingewirtz, Jay Janner, Brandon Bell, Brian Snyder, Mike Johnson, Timothy A, Clary, Matthew Hatcher, Nuri Vallbona, Jordan Vonderhaar, Zaydee Sanchez, Cameron Jones, Stephanie Keith, Andres Kudacki, Tayfun, Joe Buglewicz, Fatih Aktas, Michael M, Mary Altaffer, Scott Eisen, Columbia's, Stefan Jeremiah, Selcuk Organizations: CNN, State Department, Israeli, Congress, Hamas, Capitol, ”, National Security, Getty, State Department’s Bureau, Political, Military Affairs, Defense Department and National Security Council, Biden, Israel, Palestinian, Israel Defense Forces, United Nations Office, Human Rights, Biden Democrats, Democratic, Democratic Party, Republican, Department, Protesters, University of Michigan's, New York University, Westchester County Journal, USA, Network Police, Portland State University, AP, George Washington University, The George Washington University, AFP, Police, University of California, UCLA, Reuters, Fordham, Lincoln Center, Getty Images Police, Hamilton, Columbia University, Reuters Police, Columbia, The City College of New, Getty Images, Columbia Students, Justice, Hamilton Hall, Brown University, Getty Images Columbia University, Student Workers Union, UAW, University of Texas, Low, Sunday, Rueters Georgia State Patrol, Emory University, MediaNews, Los Angeles Daily News, Austin Statesman, Network, Austin, University, Emerson College, Swarthmore College, Bloomberg, University of Southern, Reuters New York, Reuters Columbia, New York Times, Sproul Hall, Yale University, University police, York University, The New School, Massachusetts Institute of Technology, Library, USAID Locations: Israel, Gaza, Rafah, Capitol Hill, Iran, Palestinian American, Jabalia, AFP, Ann Arbor , Michigan, New York, Westchester, Portland , Oregon, Washington ,, Portland, The, Los Angeles, The City College of New York, Columbia, Columbia's, Palestine, Providence , Rhode Island, Texas, Austin, New, Rueters Georgia, Atlanta, Getty Images Texas, Boston, Swarthmore , Pennsylvania, University of Southern California, Berkeley, Sproul, Anadolu, New Haven , Connecticut, Cambridge

☆ ‘China’s Cape Canaveral’ is booming, fueled by moon mission and space program
▼ + stars: | 2024-05-04 | by ( Lilit Marcus | Marc Stewart | ) edition.cnn.com time to read: +3 min

The city of Wenchang is home to a rocket launch center – and a tourist industry that caters to a growing interest in space-related tourism. China has made no secret of its desire to develop tourism here, drawing inspiration from Florida’s Cape Canaveral – the launchpad for many famous NASA space missions. From celestial scenes in the corridors to a rocket on the breakfast buffet, the sprawling property is inspired by the nearby Wenchang Launch Center. The growth of China’s space program has fueled more interest in all things aeronautic. “Although it’s my 24th time, maybe, to see the rocket launch, I’m still excited about this,” he told CNN.

Persons: Hilton, Justin Robertson, That’s, Yan Zehua, I’m, ”, Liu Guoxing Organizations: CNN, NASA, Hilton, Getty Locations: Hainan, Hanoi, Beijing, Hawaii, China, Wenchang, Florida’s Cape Canaveral, Hainan’s, United States, Canada, France, New Zealand, Malaysia, Japan

☆ These are the wildest EVs unveiled at China's biggest auto show
▼ + stars: | 2024-05-04 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewIf you need more evidence that China's EV market is booming, just look at the country's biggest car show. VCG/VCG via Getty ImagesBy far the biggest name in China's EV market is BYD, the Warren Buffett-backed firm that is probably giving Elon Musk sleepless nights. Xiaomi brings its Tesla rivalJADE GAO/Getty ImagesOne of the biggest draws of the auto show was the SU7, an electric SUV built by smartphone maker Xiaomi. JADE GAO/Getty ImagesThe number of companies trying to make it in China's EV market — at least 123, according to one auto consultant — has seen some firms branch out in unexpected directions.

Persons: —, PEDRO PARDO, Warren Buffett, Elon, BYD, Tesla, Xiaomi, JADE GAO, It's, Mercedes Organizations: Service, Volkswagen, Mercedes, Business, EV, Getty, China's EV, VW Locations: Beijing, China's, China

☆ China has a 'fake gold' problem — locals are getting scammed into buying artificial jewelry
▼ + stars: | 2024-05-03 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Gold bracelets at a gold jewelry store in the Zhejiang Province of China. Thousands of people in China have been duped into forking out money on "fake gold" — inferior or artificial gold — after trying to purchase so-called "999 gold" online, according to the government. The purest form of gold is commonly referred to as 999 gold, because it has gold content of 99.9%. "Fake gold is becoming a major problem in China as more Chinese are looking to put their savings into gold," said China Market Research Group's Managing Director Shaun Rein. Fake gold gets darker or reveals a greenish color when placed under flame, while pure gold turns brighter on exposure to heat.

Persons: Shaun Rein, Nikos Kavalis, Rein, Taobao, Pinduoduo Organizations: Visual China, Getty, Research, India, World Gold, Metals, ChinaFotoPress Locations: Zhejiang Province, China, scammers, Nantong

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