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☆ India's moon lander is the first to study the lunar south pole region up close. Here are 5 scientific discoveries it's already made.
▼ + stars: | 2023-09-13 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

In August, India became the first country to successfully land near the moon's south pole. Since touchdown, the moon lander and rover have already made some important discoveries. Both the mission's Vikram lander and its adorable dog-sized Pragyan rover wasted no time in studying the lunar south pole region with the suite of scientific instruments they brought with them. Temperature changes undergroundVikram has also measured the soil temperature near the lunar south pole both on the surface and underground, for the first time. There's still a lot to be learned about the moon's south pole region.

Persons: Vikram, Pragyan, it's, ILSA, There's Organizations: Service, Indian Space Research Organization, ISRO, Planetary Society, Langmuir Locations: India, Wall, Silicon

☆ Apple just killed the iPhone Lightning connector. What to do with your old chargers
▼ + stars: | 2023-09-12 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —At long last, Apple is killing its proprietary Lightning port in the iPhone 15 and embracing a charging cable that’s compatible with non-Apple products. But it also said the waste argument was misguided, and that the promise of wireless charging would make the cable issue moot. Retiring the Lightning cable could even generate, in the short term, a surge of e-waste as iPhone users toss their useless Lightning cables in a drawer. Charging cables, he said account for “a few hundred thousand tons.”“When we look to the pure numbers, it’s close to nothing,” Kuehr said. “These days, waste experts find that “reuse” is most often a better path than recycling as more can be recovered.”Enjoying Nightcap?

Persons: CNN Business ’, ”, Marian Chertow, they’re, Apple, isn’t, Ruediger Kuehr, ” Kuehr, Kuehr, ” Chertow, you’ll Organizations: CNN Business, New York CNN, Apple, Yale School of, European Commission, Samsung, Garmin, United Nations Locations: New York

☆ Coke's latest mystery flavor is AI-generated
▼ + stars: | 2023-09-12 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

The latest one, Coca-Cola Y3000, fits the bill. Coca-Cola has used its Creations platform, responsible for limited-edition flavors like Y3000, to try to make the brand resonate with younger consumers. Like all Creations drinks, Coca-Cola Y3000 is designed to taste mostly like Coke, with a bit of something else. For the product’s packaging — which appears to allude to a Y2K aesthetic with funky bubbles, pink and blue coloring and a pixelated logo — Coca-Cola used AI-generated images to create a mood board for inspiration. “They’re more engaging and more interesting, demonstrably, than a flavor, a Coke with vanilla or something,” he said.

Persons: it’s “, ”, Rosalía, “ We’re, Oana Vlad, James Quincey, “ Organizations: New, New York CNN, Riot Games, of Legends, CNN Locations: New York, United States, Canada, Dreamworld

☆ Wall Street analysts tore down a Chinese Tesla rival and say it's exactly why Elon Musk should be worried about China
▼ + stars: | 2023-09-12 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Chinese electric car maker BYD might be the closest thing to a true Tesla competitor. Experts say the auto company's Seal electric sedan is comparable to the Tesla Model 3. UBS analysts tore down the Seal and found it's a great Model 3 alternative for less. AdvertisementAdvertisementInterestingly, unlike Tesla, BYD seems to be steering clear from autonomous driving technology, and instead, is opting for a standard, Level 2, advanced driver assistance system. "Given the Chinese EV development cycle is still faster than that of the foreign brands, we believe Chinese brands' market share gains from foreign brands will be structural and continuous."

Persons: Warren Buffett's Berkshire Hathaway, Elon, Tesla, Li Auto, it's Organizations: Tesla, UBS, Service, EV, Tesla's, Getty Images Locations: Wall, Silicon, China, Europe, Munich, German

☆ Apple's plan for climate-friendly watches: Clean energy in factories
▼ + stars: | 2023-09-12 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

The biggest single reduction in the emissions from the new watches came from using clean electricity to manufacture them. Apple on Tuesday said that 300 of its suppliers have now committed to using clean energy for Apple production. But another emissions source was Apple's speedy transportation network, which relies heavily on planes. The company has said previously that a Series 8 watch created 33 kg (73 lb) of carbon emissions, from raw materials to delivery to end customers. Apple has been focused on cutting carbon emissions for some time.

Persons: Steve Jobs, Loren Elliott, Lisa Jackson, Jackson, John Ternus, Apple, Stephen Nellis, Peter Henderson, Lisa Shumaker Organizations: Steve, Apple, REUTERS, Rights, Reuters, Thomson Locations: Cupertino , California, U.S, Rights CUPERTINO , California, China

Learn moreApple officially announced the Apple Watch Series 9 during its annual product event on September 12. AdvertisementAdvertisementWhere to preorder the Apple Watch Series 9Preorders of the Apple Watch Series 9 are available now via the Apple website and the watch officially launches on September 22. AdvertisementAdvertisementApple Watch Series 9 pricingThe Apple Watch Series 9 will be available in two different sizes, including a 41mm model and a 45mm model. Here's the pricing breakdown of all models:Apple Watch Series 9 (41mm): $399Apple Watch Series 9 (41mm, stainless steel): $699Apple Watch Series 9 (45mm): $429Apple Watch Series 9 (45mm, stainless steel): $749The Apple Watch SE, Apple's budget watch option, remains in the company's lineup and costs $249. AdvertisementAdvertisementApple Watch Series 9 new accessoriesApple; InsiderApple announced a number of new accessories for the Apple Watch Series 9, including a new suede-like woven band, a redesigned Sport Loop, and new collections with both Nike and Hermes.

Persons: Siri, Apple Organizations: Apple, Nike, Apple Watch

☆ China is importing more from Russia than ever before, with trade between the 2 countries surging since Putin invaded Ukraine
▼ + stars: | 2023-09-07 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

China bought Russian products worth a record $11.5 billion last month, new customs data showed. Trade between the two countries has soared since the Kremlin invaded Ukraine last year. Russia expects trade volume with China to hit $200 billion by the end of the year. Customs data published Thursday showed that Chinese imports from Russia jumped more than 25% to a record $11.5 billion in August. Russia and China started to do more business with each other after Vladimir Putin invaded Ukraine in February 2022, which led to the US and its allies imposing widespread sanctions.

Persons: Vladimir Putin Organizations: Service, China, Kremlin Locations: China, Kremlin, Ukraine, Russia, Wall, Silicon, Beijing, Moscow, renminbi

This is because blast furnaces operate around the clock and need more workers. Goncalves is also betting that producing iron ore in-house for blast furnaces, rather than sourcing scrap steel for electric arc furnaces, will give Cliffs a competitive edge. While a few carmakers use aluminum for automotive bodies, most prefer high-grade steel from blast furnaces. Cliffs' devotion to blast furnaces, which are unionized unlike some electric arc furnaces, won it the support of United Steelworkers. The union's international president Thomas Conway said it's backing Cliffs' bid for U.S. Steel because of Goncalves' commitment to blast furnaces.

Persons: Lawrence Bryant, Lourenco Goncalves, Goncalves, Josh Spoores, Donald Trump, Phil Gibbs, Thomas Conway, Joe Biden's, Isla Binnie, Bianca Flowers, Greg Roumeliotis, Daniel Wallis Organizations: U.S . Steel, U.S . Steel Granite City, REUTERS, Cliffs Inc, U.S, U.S . Steel Corp, AK Steel, CRU Group, Steel Dynamics, Steel, Reuters, United Steelworkers, Thomson Locations: U.S . Steel Granite, Granite City , Illinois, U.S, CHICAGO, United States, Cleveland, North America, Asia, Toledo , Ohio, New York, Chicago

From a distance, the whole site could be mistaken for an old mining camp you might come across in Montana or Idaho. They were listening to the last sigh of the Big Bang, which birthed the universe 13.8 billion years ago and is detectable now only as a faint, omnipresent hiss of microwave radiation. Up until then, scientists had debated whether the universe even had a beginning; maybe it was timeless. As important, the discovery brought the beginning of time into the lab, where it could be pinched, squeezed and dissected. The cosmic microwave background offered a new window into the nature of reality, one into which astronomers have been peering intently ever since.

Persons: Crawford Hill, Arno Penzias, Robert Wilson, Penzias, Wilson Organizations: Historic Landmark Locations: Crawford, Monmouth County, N.J, Manhattan, Montana, Idaho

☆ To Experience Paris Up Close and Personal, Plunge Into a Public Pool
▼ + stars: | 2023-09-03 | by ( Catherine Porter | More About Catherine Porter | ) www.nytimes.com time to read: +1 min

Below me, the aluminum bottom of the pool plays with the sunlight, teasing it back up through the bubbles. The pool windows offer an unobstructed, third-story view. Swimming in Paris is a full-on cultural experience. Many public pools don’t just feel like historical monuments, they are historical monuments. Backstroking beneath the buttresses stretching across the vaulted ceiling of the 99-year-old Butte-aux-Cailles pool feels like backstroking through a cathedral.

Locations: Paris

☆ Home in a box: Rethinking disaster relief, IKEA style
▼ + stars: | 2023-08-31 | by ( Marianna Cerini | ) edition.cnn.com time to read: +9 min

Rather than sending tents, however, Indian nonprofit SEEDS partnered with Sweden’s Better Shelter to distribute over 100 of its IKEA-inspired temporary houses. Like IKEA furniture, Better Shelter’s homes come in flat packages that can be easily shipped and assembled in a matter of hours, without the need for tools or electricity. Each unit comprises a modular frame and is completed using local materials, such as bamboo or timber, before being equipped with a lockable door and solar-powered lamp. Sahiba Chawdhary/Better ShelterKarlsson began developing the concept for Better Shelter’s housing as a freelance designer in 2010, when a small aid project asked him to improve the design of its disaster relief tents. Sahiba Chawdhary/Better ShelterScalable, adaptable and localIn 2021, Better Shelter introduced its latest modular design: Structure.

Persons: CNN —, Gita Kumari Bhumik, ” Bhumik, Kumari Bhumik, Chawdhary Bhumik, It’s, ”, Johan Karlsson, “, Karlsson, you’re, we’ve, ” Karlsson, Sahiba, Geeta Bhumik, it’s Organizations: CNN, IKEA, IKEA Foundation, UN, decarbonization, UNHCR, for Economics & Peace, Better Locations: India’s, Assam, Indian, Assam's Kalain, Swedish, Ethiopia, Iran, Kenya, Afghanistan, Rwanda, Ecuador, Netherlands, Sydney

☆ Apple reportedly tests 3D printing to manufacture the new Apple Watch
▼ + stars: | 2023-08-31 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Apple is testing the use of 3D printers to make the stainless steel chassis for its soon-to-be-released smartwatches, Bloomberg reported, citing people familiar with the matter. Right now, Apple Watch chassis are made by cutting slabs of metal into the right shape. The 3D printing methodology would reduce both the time needed to make the devices and the amount of material being used, Bloomberg reported. By 2021, the company reported that 59% of all aluminum used in products came from recycled sources, with "many products" using 100% recycled aluminum in their enclosures. WATCH: Why one analyst compares the new Apple Vision Pro to the Apple Watch

Persons: Apple Organizations: Apple, Bloomberg, Apple Watch Ultra, Apple Vision

☆ Did You Know About the 16-Foot Trump Tower Clock? Neither Did the City.
▼ + stars: | 2023-08-27 | by ( Sam Roberts | More About Sam Roberts | ) www.nytimes.com time to read: +1 min

Every year, New York City’s Department of Transportation collects tens of millions of dollars from property owners in return for permission to place street furniture on, over or under city sidewalks. This includes, but is not limited to, signs, filigreed lampposts, benches, bollards, planters, permanent trash receptacles, delivery ramps, underground vaults and just about anything else imaginable, including ornamental clocks. Each bears the surname of its owner, Donald J. Trump. Belatedly, the City of New York would like to be paid for allowing the Trump Tower clock to occupy part of a public sidewalk. The fee for what is called revocable consent — temporary permission that can be revoked after 10 years and is subject to renewal — varies widely.

Persons: filigreed, Donald J Organizations: New York City’s Department of Transportation, Trump Locations: New, City of New York

☆ China's industrial profits extend slump into seventh month
▼ + stars: | 2023-08-27 | by ( ) www.cnbc.com time to read: +1 min

A view of the automated container port in Qingdao in east China's Shandong province. Profits at China's industrial firms fell 6.7% in July from a year earlier, extending this year's slump to a seventh month with weak demand squeezing companies as a post-pandemic recovery faltered in the world's second-biggest economy. Profits were down 8.3% in June, according to the bureau, which only occasionally publishes monthly figures. "Commodity prices are running low, the pressure on raw material costs in the midstream and downstream industries has eased. Major banks have downgraded their growth forecasts for the year to below the government's target of about 5% as recovery sputters on a worsening property slump, weak consumer spending and tumbling credit growth, prompting the authorities to slash interest and promise further support.

Persons: Sun Xiao Organizations: National Bureau, Statistics, Unit, NBS, Big, China Aluminum International Locations: Qingdao, Shandong

☆ Slowdown in China, Europe and the U.S. will continue to drag down aluminum and alumina prices: CEO
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSlowdown in China, Europe and the U.S. will continue to drag down aluminum and alumina prices: CEOMike Ferraro, CEO of Alumina, discusses the company's outlook in the face of slowing economic activity in the United States, Europe and China.

Persons: Mike Ferraro Locations: China, Europe, U.S, United States

☆ Bob Tita — Reporter at The Wall Street Journal
▼ + stars: | 2023-08-19 | by ( Bob Tita | ) www.wsj.com time to read: +1 min

Bob TitaBob Tita covers manufacturing and metals industries from The Wall Street Journal’s Chicago bureau. He writes about the business strategies and markets of major U.S. manufacturers, including Caterpillar Inc., Deere & Co. and United States Steel Corp. He covers the intersection of public and private companies and their customers in supply chains, recycled commodity markets and industrial transportation networks. Bob joined Dow Jones in 2009 after covering manufacturing for Crain’s Chicago Business and equity futures and options markets for BridgeNews. He has a Bachelor’s degree in journalism from Southern Illinois University and a Master’s degree in public affairs reporting from University of Illinois at Springfield.

Persons: Bob Tita Bob Tita, Bob, Dow Jones Organizations: Caterpillar Inc, Deere, Co, United States Steel Corp, Crain’s Chicago Business, BridgeNews, Southern Illinois University, University of Illinois, LinkedIn, Twitter Locations: Chicago, U.S, Michigan, Indiana, Springfield

An aerial view shows trees as the sun rises at the Amazon rainforest in Manaus, Amazonas State, Brazil October 26, 2022. REUTERS/Bruno Kelly/File Photo Acquire Licensing RightsBRASILIA, Aug 17 (Reuters) - Brazil's government is looking to create a regulated carbon market with emissions caps for major companies and protections for indigenous communities involved in carbon-offset activities, a senior official said. After passing Congress, the regulations would require two years of emissions monitoring before the cap takes effect. For example, some developers have approached indigenous communities with unfair contracts offering meager payments, he said. The proposed legislation would establish criteria for such deals, guaranteeing broad consensus and equitable terms for indigenous communities involved.

Persons: Bruno Kelly, Rafael Dubeux, Luiz Inacio Lula da Silva's, Lula, Dubeux, Marcela Ayres, Bernardo Caram, Brad Haynes, Devika Organizations: REUTERS, Rights, Finance, Climate, Thomson Locations: Manaus, Amazonas State, Brazil, Rights BRASILIA

☆ EV battery imports face scrutiny under US law on Chinese forced labor
▼ + stars: | 2023-08-17 | by ( Nichola Groom | ) www.reuters.com time to read: +6 min

More than a year of enforcement of the Uyghur Forced Labor Prevention Act (UFLPA) has already stymied development of solar energy projects as detained panel shipments languish in U.S. warehouses. When shipments are detained, CBP provides the importer with a list of examples of products from previous reviews and the kind of documentation required to prove they are not made with forced labor, CBP told Reuters. "The timing of these changes does not reflect any specific changes in strategy or operations," a CBP spokesperson said in a statement, adding that the list of eight product types was "not exhaustive." In a report to Congress last month on UFLPA enforcement, CBP listed lithium-ion batteries, tires, "and other automobile components" among the "potential risk areas" it was monitoring. The stepped-up focus on automakers follows a study by Britain's Sheffield Hallam University published in December that said nearly every major automaker has exposure to products made with forced labor in Xinjiang.

Persons: Janet Yellen, Mark Schiefelbein, Dan Solomon, Chevalier, Solomon, Britain's, Ron Wyden, Wyden, we've, Tesla, Brandon Daniels, Nichola Groom, David Shepardson, Jan Schwartz, Daniel Leussink, Matthew Lewis Organizations: Reuters, U.S . Customs, Border Protection, Beijing, Uyghur, Labor, U.S . Solar Energy Industries Association, Biden, CBP, Miller, Britain's Sheffield Hallam University, U.S, Senate, Benz, Volkswagen, Friedrichshafen AG, Bosch, General Motors, Honda, Toyota, Continental AG, Thomson Locations: United States, Diaoyutai, Beijing, China, Xinjiang, U.S, Detroit, UFLPA, Los Angeles, Washington, Hamburg, Tokyo

☆ Chibuike Ifedilichukwu: Nigerian upcycling artist creates portraits from waste
▼ + stars: | 2023-08-16 | by ( Aneta Felix | ) edition.cnn.com time to read: +4 min

But where others see trash, 37-year-old Nigerian artist Chibuike Ifedilichukwu sees opportunity. He creates portraits of celebrities from discarded aluminum cans, making a bold statement about waste management in the country. One day in 2021, while accompanying his wife to an antenatal clinic, Ifedilichukwu says he stumbled upon a pile of dumped plastic strips. I found that nobody does this pattern of art,” Ifedilichukwu told CNN. Although he wears gloves when he works, he says he’s been cut many times by sharp-edged cans, craft knives, scissors, needles and steel wire.

Persons: Chibuike Ifedilichukwu, Ifedilichukwu, “, ” Ifedilichukwu, Chibuike, ”, Cardi, Chimamanda Ngozi Adichie, Don Jazzy, Greta Thunberg, Leonardo di Caprio, Davido, Ifedilichukwu Ifedilichukwu, he’s, “ It’s Organizations: CNN —, CNN, Ifedilichukwu Locations: Nigeria, Anambra, Awka

☆ US welcomes WTO panel report on China steel, aluminum tariffs
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

A staff member wearing a face mask walks past United States and Chinese flags set up before a meeting between Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng at the Diaoyutai State Guesthouse in Beijing, China, Saturday, July 8, 2023. Mark Schiefelbein/Pool via REUTERS/File Photo Acquire Licensing RightsWASHINGTON, Aug 16 (Reuters) - The office of the U.S. Trade Representative on Wednesday said it was pleased with a World Trade Organization panel report that it said recognized the United States' section 232 actions on steel and aluminum are security measures and rejected China's arguments. "The United States is pleased with the World Trade Organization (WTO) panel report released today, recognizing that the U.S. Section 232 actions on steel and aluminum are security measures, and that the People’s Republic of China (China) illegally retaliated with sham 'safeguard' tariffs," the USTR said in a statement. Reporting by Susan HeaveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Mark Schiefelbein, Susan Heavey Organizations: Rights, U.S . Trade, World Trade Organization, U.S, Thomson Locations: United States, Diaoyutai, Beijing, China, People’s Republic of China

[1/3] Charles McGonigal, a former FBI official who has been charged with working for sanctioned Russian oligarch Oleg Deripaska, arrives at Federal Court in New York City, U.S., August 15, 2023. At the time, McGonigal pleaded not guilty to four criminal counts including sanctions violations and money laundering. McGonigal told the court he was "deeply remorseful" for his actions. U.S. District Judge Jennifer Rearden is scheduled to sentence McGonigal on Dec. 14. U.S. prosecutors charged McGonigal as they ramped up efforts to enforce sanctions on Russian officials and police their suspected enablers following the Russian invasion of Ukraine in February 2022.

Persons: Charles McGonigal, Oleg Deripaska, Brendan McDermid, McGonigal, Vladimir Potanin, Seth DuCharme, Jennifer Rearden, Matthew Olsen, Washington, Jody Godoy, Grant McCool Organizations: FBI, Court, REUTERS, Prosecutors, Deripaska, U.S . Department of Justice's National Security Division, Kremlin, Thomson Locations: Russian, New York City, U.S, New York, Manhattan, Russia, Cyprus, New Jersey, Ukraine, Nornickel

CNN —Six people died after a boat carrying migrants sank in the English Channel, authorities say. The English Channel is one of the world’s busiest waterways and crossing on small boats is extremely dangerous. UK Prime Minister Rishi Sunak – whose governing Conservatives have been struggling in the polls – made stopping boats making the perilous crossing across the English Channel one of his top priorities. Pascal Rossignol/ReutersBut 755 migrants were detected crossing the channel to the UK Thursday, government figures showed. French Prime Minister Elisabeth Borne said in a tweet that her “thoughts are with the victims” of the migrant boat that capsized.

Persons: Franck Dhersin, ”, Rishi Sunak –, Pascal Rossignol, Elisabeth Borne, Herve Berville, Suella Braverman Organizations: CNN, Channel, Local, Twitter, Conservatives, Reuters, Paris, French, French Navy, Border Force Locations: Calais, Dover

☆ Congress's UFO hearing shows the hardest part of discovering alien life may be announcing it. Here's how NASA might break the news.
▼ + stars: | 2023-08-11 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +9 min

An illustration of the CoLD scale for determining confidence in a detection of alien life. The discovery of extraterrestrial life is likely to be a slow build-up, rather than an explosive eureka moment. The president or other countries could be involved in announcing extraterrestrial life existsPresident Joe Biden speaks at Delaware State University. Anna Moneymaker/Getty ImagesAnnouncing the existence of alien life would be an "administration-level" affair, Glaze said, referring to the US presidency. Needless to say, any discovery of alien life would likely lead to chaos — at least in public discourse.

Persons: NASA isn't, David Grusch, Randall Hill, UAPs, Elon Musk, John Locher, Karine Jean, Pierre, we've, Lori Glaze, Glaze, James Webb, Jean, Philippe Arles, It's, Aaron Gronstal, Mary Voytek, Joe Biden, Anna Moneymaker, Carlos Garcia Rawlins, Stephen Hawking, I'm, we're Organizations: Service, NASA, Beijing, Reuters, Department of Defense, Associated Press, AP, White House, Navy, US Department of Defense, JPL, Caltech, Delaware State University Locations: Wall, Silicon, South Carolina, Surfside Beach , South Carolina, US, Alaska, Canada, Lake Huron, Rachel , Nevada, Bugarach, France

☆ Ex-FBI agent accused of working for Russian oligarch may change plea
▼ + stars: | 2023-08-07 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +1 min

Charles McGonigal, a former FBI official who has been charged with working for sanctioned Russian oligarch Oleg Deripaska, arrives at Federal Court in New York City, U.S., March 8, 2023. REUTERS/Brendan McDermid/File PhotoCompanies OK Rusal MKPAO FollowNEW YORK, Aug 7 (Reuters) - A former FBI agent accused by U.S. prosecutors of working for sanctioned Russian oligarch Oleg Deripaska may change his plea in relation to criminal charges of evading U.S. sanctions and money laundering, court records showed on Monday. A change of plea hearing before U.S. District Judge Jennifer Rearden in Manhattan has been scheduled for Aug. 15. The charges against McGonigal came as U.S. prosecutors ramped up efforts to enforce sanctions on Russian officials and police their alleged enablers in response to the invasion of Ukraine. Reporting by Luc Cohen in New York; Editing by Mark Porter and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Charles McGonigal, Oleg Deripaska, Brendan McDermid, Jennifer Rearden, McGonigal, oligarch, Russia's, Luc Cohen, Mark Porter, Conor Humphries Organizations: FBI, Court, REUTERS, U.S, Deripaska, Kremlin, Thomson Locations: Russian, New York City, U.S, Manhattan, New York, Ukraine, Washington

☆ Chinese property stocks surge after central bank vows more support for private businesses
▼ + stars: | 2023-08-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Other attendees included diary giant Yili Group, aluminum products manufacturer China Hongqiao Group and electrical components manufacturer Chint Group . At the symposium, PBOC governor Pan Gongsheng said the central bank will promote the expansion of private business bond financing support instruments, and strengthen the financial market to support their development. This is the latest move by the central government to boost market confidence and vow support for private businesses and the real estate sector amid signs of slowing growth. watch nowAt the Politburo meeting on July 24, the top leadership promised to "adjust and optimize policies" to boost the beleaguered property sector, as well as introduce measures to promote private investment. Separately, China's state planner, the National Development and Reform Commission, also released a 17-point statement, and pledged to encourage more private capital into the construction of major national projects.

Persons: Qilai Shen, Pan Gongsheng Organizations: Bloomberg, Getty, China Hongqiao Group, Chint, National Development, Reform Commission, Communist Party Locations: Beijing, China

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