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☆ Biden faces anger from key Arab-American voters in Michigan primary over Israel support in Gaza war
▼ + stars: | 2024-02-27 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

Michigan's Arab-American community voted overwhelmingly for Biden in 2020, helping him carry the state and defeat then-incumbent Donald Trump. U.S. President Joe Biden is welcomed by Israeli Prime Minster Benjamin Netanyahu, as he visits Israel amid the ongoing conflict between Israel and Hamas, in Tel Aviv, Israel, October 18, 2023. Evelyn Hockstein | Reuters"The U.S. election for President Biden could swing on two or three states," Fred Kempe, CEO of the Atlantic Council, told CNBC. "Take one of those states, Michigan, [which] Biden won by fewer votes in the last election than there are Arab American votes that could go against him, because of what's going on in the Middle East. Pro-Palestinian demonstrators march during a visit by President Joe Biden in Warren, Mich., Feb. 1, 2024.

Persons: Mostafa Bassim, Biden's, Julie Chavez Rodriguez, Ahmad Hasaballah, Rodriguez, Abdullah H, Hammoud, Biden, Donald Trump, Joe Biden, Benjamin Netanyahu, Evelyn Hockstein, Fred Kempe, it's, Jon, Paul Sancya, Gretchen Whitmer, Abdulqader Organizations: Islamic Center of Detroit, Anadolu, Getty, Michigan's Democratic, Israel, Palestinian, Hamas, United Nations, Dearborn, White, CNBC, Democratic, Israeli, Reuters, Atlantic Council, U.S, The New York Times, Michigan, Trump, Israeli Forces Locations: Michigan, United States, Warren , Michigan, Gaza, Dearborn, U.S, Rafah, Dearborn , Michigan, Arab, American, Israel, Tel Aviv, Warren, Mich, Khan Yunis

Trader works at the post where Alibaba is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 28, 2023. REUTERS/Brendan McDermid Brendan Mcdermid | ReutersChinese e-commerce giant Alibaba is back on track to be a top market player after a period of pressure, co-founder Joe Tsai told CNBC's Emily Tan in an exclusive interview Friday. Questions about Alibaba's future have mounted after a series of internal changes, a scrapped cloud computing IPO and competition for its core e-commerce business. "Where we didn't feel as confident as before, we felt the competitive pressure, but now we're back." watch nowStock Chart Icon Stock chart icon Alibaba

Persons: Brendan McDermid Brendan Mcdermid, Joe Tsai, Emily Tan, Tsai Organizations: New York Stock Exchange, REUTERS, PDD Holdings, ByteDance, Alibaba Locations: New York City, U.S, China, Alibaba

☆ An abrupt exit at a Goldman Sachs-backed crypto bank spotlights the industry's tug-of-war with regulators
▼ + stars: | 2024-02-26 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +13 min

Read previewWhen the chief executive of cryptocurrency startup Anchorage Digital posted a message in the company's "announcements" Slack channel in late November about an executive's departure, employees started buzzing. Just over a year after it received the charter, the OCC issued a consent order against Anchorage in April 2022. Regulators are aggressively scrutinizing crypto players and prioritizing monitoring crypto compliance. Regulators' viewThe OCC is now led by Michael Hsu, the former Federal Reserve regulator and self-described crypto skeptic who has viewed crypto companies' regulatory compliance in some areas as inadequate. A crypto bank would face risks in safeguarding digital assets in its custody, maintaining appropriate hedges in crypto-lending, and adhering to capital requirements specific to crypto assets, said Kim, who studies crypto and blockchain technology.

Persons: —, Georgia Quinn, Nathan McCauley's, McCauley, Goldman Sachs, Andreessen Horowitz, Quinn, Brian Brooks, CoinDesk, Oliver Wyman, FTI, Brooks, Michael Hsu, Hsu, Evelyn Hockstein, Mark duBose, Seoyoung Kim, University's, Kim, Diogo Mónica, Axel Springer, Mark McCombe, Max Levchin, BNY, Seyfarth Shaw, Ellenoff Grossman, it's Organizations: Service, Anchorage, Business, Citadel Securities, Apollo Global Management, Visa, OCC, Regulators, Securities, Exchange, IBM, KPMG, Anchorage Digital Bank National Association, Federal Reserve, Reuters, Business Insider, Santander Bank, University's Leavey School of Business, KKR, BlackRock, BNY Mellon Locations: Anchorage, United States, Santa, San Francisco, Portugal

☆ Xiaomi bets big on its new electric vehicle — targets 20 million premium users
▼ + stars: | 2024-02-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Chinese consumer electronics company Xiaomi revealed Thurs., Dec. 28, 2023, its long-awaited electric car, but declined to share its price or specific release date. Xiaomi revealed its SU7 electric car in China in late December but has yet to announce a specific price. Building on its tech capabilities as a telecommunications and smartphone company, Huawei has swiftly become a player in China's electric car market. Apple has yet to formally enter the electric car market despite reports it has been working on one. But the system is due for rollout in the coming months to appliances and the forthcoming car, Lu said.

Persons: Xiaomi, Evelyn Cheng, it's, Weibing Lu, Lu, That's, Lu Xiaomi Organizations: CNBC, Mobile, Apple, Samsung, Porsche –, Huawei, Baic Group, Xiaomi Locations: Evelyn Cheng BEIJING, China, Barcelona, Beijing, Xiaomi, Canalys

☆ China’s AI stocks are surging. Here are the names to watch
▼ + stars: | 2024-02-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

The investment analyst team led by Gary Yu has a $140 price target and overweight rating on Baidu's U.S.-listed shares. "We believe the current AI cloud integration between Galaxy AI and Ernie is just the first step," Yu said. For all the interest in AI stocks, China markets this year are still grappling with worries about whether Beijing is doing enough to support economic growth. They have a price target of 160 yuan on Shanghai-listed shares of Cambricon — upside of 12% from Friday's levels. They have a price target of 380 yuan on Shanghai-listed Kingsoft, up more than 50% from Friday's levels.

Persons: Morgan Stanley, Gary Yu, Yu, Ernie chatbot, Ernie, Fawne Jiang, Jiang, Baidu, Alex Yao, Yao, Geoffrey Hinton, Cade Metz, Hinton, Metz, it's, Sinodata, Microsoft didn't, EPFR, Bernstein, monetization Organizations: Bloomberg, Baidu, U.S, Huawei, Galaxy, Benchmark, JPMorgan China, Mavericks, Google, Facebook, Microsoft, Shenzhen Stock Exchange, Shanghai, China Equity Funds, Nvidia Locations: China, U.S, Shenzhen, Beijing, Shanghai

☆ Russia's nuclear threat in space is 'incredibly destabilizing', says Evelyn Farkas
▼ + stars: | 2024-02-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRussia's nuclear threat in space is 'incredibly destabilizing', says Evelyn FarkasEvelyn Farkas, McCain Institute executive director and former Deputy Assistant Secretary of Defense for Russia, Ukraine and Eurasia in the Obama Administration, joins 'Squawk box' to discuss the nuclear threat posed by Russia in space, what's at stake for the U.S. and other global superpowers, and more.

Persons: Evelyn Farkas Evelyn Farkas, Obama Organizations: McCain, Defense, Obama Administration, U.S Locations: Russia, Ukraine, Eurasia

☆ Voices from Inside America’s Homelessness Crisis - The New York Times
▼ + stars: | 2024-02-21 | by ( ) www.nytimes.com time to read: +8 min

Homelessness is highest in cities with exorbitant rents, but small cities and rural communities are not shielded from the housing crisis. Because rural America lacks many social services, like free clinics, soup kitchens and shelters, the rural homeless often make their way to places like the Water Street Mission. We spoke with several people staying at the Water Street Mission, some of whom were there for the first time and some who had sought refuge there many times before. Levon Higgins, 50, has been staying at Water Street for the last six months : I just couldn’t afford to live where I was. Jennifer Berrie, 45, was staying in an overnight-only shelter before Water Street : I miss little things you don't even think of.

Persons: James Costello, They’re, ”, you’ve, Tamekia Gibbs, Levon Higgins, It’s, I’ve, Tamekia Gibbs Rob Travis Jackson, Evelyn, You’re, Jennifer Berrie, “, Rob Travis Jackson, that’s, they’ve, Shawna Organizations: Homelessness, Services Locations: America, Lancaster, Pa, Water

☆ Ancient reptile fossil revealed as a forgery
▼ + stars: | 2024-02-20 | by ( Ashley Strickland | ) edition.cnn.com time to read: +7 min

CNN —A 280 million-year-old fossil thought to be a well-preserved specimen of an ancient reptile is largely a forgery, according to new research. The fossil appeared in book and article citations over the decades, but no one ever studied it in detail. A new, detailed analysis has revealed that the dark color of the fossil isn’t preserved genetic material — it’s just black paint covering a couple of bones and carved rock. When the specimen was discovered, researchers thought the fossil might provide a rare glimpse into reptilian evolution. It’s not the first time a fossil forgery has been uncovered, but Rossi said this particular style of forgery is unusual.

Persons: antiquus, ”, Valentina Rossi, ” Rossi, Rossi, Mariagabriella Fornasiero, Evelyn Kustatscher, It’s, Fabrizio Nestola, ” Nestola Organizations: CNN, University of Padua’s Museum of Nature, University College Cork, Museum of Nature, Tyrol Nature Museum, University Center, Museums, University of Padua Locations: Italian, Italy, Ireland, Tyrol, Bolzano

☆ Magnificent 7 profits now exceed almost every country in the world. Should we be worried?
▼ + stars: | 2024-02-19 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Michael M. Santiago | Getty ImagesThe so-called "Magnificent 7" now wields greater financial might than almost every other major country in the world, according to new Deutsche Bank research. The meteoric rise in the profits and market capitalizations of the Magnificent 7 U.S. tech behemoths — Apple , Amazon , Alphabet , Meta , Microsoft , Nvidia and Tesla — outstrip those of all listed companies in almost every G20 country, the bank said in a research note Tuesday. Of the non-U.S. G20 countries, only China and Japan (and the latter, only just) have greater profits when their listed companies are combined. Deutsche Bank analysts highlighted that the Magnificent 7's combined market cap alone would make it the second-largest country stock exchange in the world, double that of Japan in fourth. However, this level of concentration has led some analysts to voice concerns over related risks in the U.S. and global stock market.

Persons: Michael M, Jim Reid, Deutsche, Reid, Tesla, Evelyn Partners, Daniel Casali, Evelyn, Casali Organizations: New York Stock Exchange, Santiago, Getty, Deutsche Bank, Microsoft, Nvidia, Tesla, Apple, Amazon, Evelyn Partners Locations: New York City, China, Japan, France, Saudi Arabia, U.S

Over the course of several days, The Associated Press interviewed a cross section of voters in Northampton County to ask whether Biden's messaging around the fate of democracy was resonating. These voters represented parts of the very coalition Biden will need to win Pennsylvania again — Black voters, Latinos, independents and moderates from both parties. A Biden campaign spokesperson said the democracy message is central to the campaign but it is not the only one the campaign will use to reach voters. Getting Black voters engaged is going to take more from Biden, she believes, because so far his campaign messages have not resonated. But Lopez thinks messages of fear and Trump imperiling American democracy are essentially meaningless for many of the county's working class voters.

Persons: Raymond Santiago, Joe Biden, Donald Trump, Biden, Santiago isn't, ”, Trump, ” Biden, Evelyn Fermin, “, Curt Balch, Balch, ’ ” Balch, Christian Miller, That's, Miller, ” Miller, Christopher Borick, Harry Truman, Republican Thomas Dewey, ” Borick, Hillary Clinton, Anna Kodama, Kodama, “ That’s, Esther Lee, Lee, Guillermo Lopez Jr, Lopez Organizations: Bethlehem Steel, Hispanic, GOP, Northampton County, Trump, Independence Hall, Associated Press, Biden, Pennsylvania, —, Lehigh Hispanic, U.S, Capitol, Biden’s, Republican, Republican Party, Institute of Public, Muhlenberg University, Democrats, NAACP, Lehigh, AP Locations: BETHLEHEM, Pa, Lehigh, Northampton County, Bethlehem, Pennsylvania, Valley Forge , Pennsylvania, America, Philadelphia, New Jersey, Dominican Republic, Hellertown, Nazareth, Northampton, Allentown, Ohio, Europe, Emmaus

BELLINGHAM, Wash. (AP) — Evelyn Jefferson walks deep into a forest dotted with the tents of unhoused Lummi Nation tribal members and calls out names. “It took us eight days to bury him because we had to wait in line, because there were so many funerals in front of his,” said Jefferson, crisis outreach supervisor for Lummi Nation. Against the backdrop, tribes such as the Lummi Nation, about 100 miles (161 kilometers) north of Seattle, say the proposed funding — while appreciated — would barely scratch the surface. In September, Lummi Nation declared a state of emergency over fentanyl, adding drug-sniffing dogs and checkpoints, while revoking bail for drug-related charges. But truly thwarting this crisis must go beyond just Lummi Nation working on its own, said Nickolaus Lewis, Lummi councilmember.

Persons: — Evelyn Jefferson, ”, Jefferson, Anthony Hillaire, Hillaire, We’re, Sen, John Braun, we’re, Jesse Davis, Nickolaus Lewis, Lummi, Jay Inslee, Joe Biden, van, It’s, somebody’s, —, ” Jefferson Organizations: Lummi, Alaska Natives, Disease Control, Senate, Republican, Washington State Department of Health, Washington Gov Locations: BELLINGHAM, Wash, Lummi, Jefferson, Washington, U.S, Seattle, Alaska, Bellingham, Bellingham , Jefferson

☆ Chinese stocks are trying to rebound. This is the trade to watch to know if the turnaround is for real
▼ + stars: | 2024-02-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mainland Chinese stocks are trying to rebound from five-year lows and it's starting to look like Beijing is willing to take some action. "My question is, would a recovery in [the] Chinese economy and the stock market be the end to that multi-year rally in Chinese bonds?" If Chinese bond yields started to climb, that would likely indicate investors were rotating out, Papic pointed out. Mainland Chinese stock markets are closed and don't re-open until Monday, Feb. 19. They expect if sentiment remains weak, foreign capital still has scope to sell out of mainland Chinese and Hong Kong stocks.

Persons: Clocktower, Marko Papic, Xi Jinping, Papic, Nomura, Yi Huiman, Wu Qing, — CNBC's Michael Bloom Organizations: Bloomberg, U.S ., Shanghai Stock Exchange, Eurasia Group, Hong, UBS, Naura Technology Locations: Beijing, Shanghai, China, U.S, Hong Kong, Eurasia, Shenzhen, Sungrow

☆ UK PM Sunak Paid More Than 500,000 Pounds in Tax Last Year
▼ + stars: | 2024-02-09 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

By Andrew MacAskill and Sachin RavikumarLONDON (Reuters) - British Prime Minister Rishi Sunak paid 508,000 pounds ($641,000) in tax in the last financial year after income from his investments dwarfed his official salary, a report by his accountants showed on Friday. The three-page published summary is the second time that Sunak has published details of his tax affairs since he became prime minister in 2022. The figures show that Sunak made 139,000 pounds from his salary as a member of parliament, finance minister and prime minister between April 2022 and March 2023, and 2.1 million pounds from investments. Of his income from investments, 1.8 million pounds came from capital gains, up from 1.6 million pounds a year earlier. About 70% of the total tax paid by Sunak was due to capital gains tax on the profit made from sales of investments such as stocks.

Persons: Andrew MacAskill, Sachin Ravikumar, Rishi Sunak, Sunak, Evelyn, Piers Morgan, David Milliken Organizations: Sachin Ravikumar LONDON, British, Indian IT, Infosys, Evelyn Partners Locations: Indian, Rwanda

☆ Hainan Airlines is handing out Rokid AR glasses for in-flight entertainment
▼ + stars: | 2024-02-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

A passenger tries out a pair of Rokid AR glasses on a Hainan Airlines flight in China. BEIJING — Hainan Airlines this week started letting passengers on some routes use Rokid's augmented reality glasses for free for in-flight entertainment, the tech startup announced Thursday. Chinese start-up Rokid claimed it's the first time AR glasses — which allow computer-generated images to be superimposed on the real world — have been used at scale on flights. The device allows wearers to see the real world using what the company calls "spatial computing" technology. He claimed Rokid was in talks "with lots of airlines" for similar partnerships, including at least one major international operator.

Persons: Rokid, Misa Zhu, Zhu, wasn't Organizations: Hainan Airlines, CNBC Locations: China, BEIJING, Hainan

☆ China’s VC playbook is undergoing a sea change as U.S. IPO exits get tougher
▼ + stars: | 2024-02-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

That's far less than in the previous years — the share of U.S. dollars in total VC funds raised was around 15% for the years 2018 to 2021, the data showed. China investments, China exitsWashington and Beijing in 2022 resolved a long-standing audit dispute that reduced the risk of Chinese companies having to delist from U.S. stock exchanges. "With U.S. IPOs no longer being a viable exit strategy for China assets, investors should target local exits in their respective capital markets—in other words, China exits for China assets, and U.S. exits for overseas assets," Liao said. The 20 largest VC deals for China-headquartered companies in 2013 were predominantly in e-commerce and software services, according to PitchBook data. ... the venture capital scene has become even more state-concentrated and focused on government priorities.

Persons: China’s renminbi, Athit Perawongmetha, Kyle Stanford, China —, Liao Ming, Stocks, Liao, Didi, Beijing's, Camille Boullenois Organizations: Reuters, Reuters BEIJING — Venture, Liao Ming, U.S, Sequoia, Prospect, Capital, New York Stock Exchange Locations: U.S, Bangkok, Thailand, Reuters BEIJING, China, Sequoia, Washington, India, Japan, Greater China, Beijing, New York, Hong Kong, U.S . Washington

☆ China's central bank encourages local businesses to accept foreign payment cards
▼ + stars: | 2024-02-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

BEIJING — China is encouraging banks and local businesses to accept foreign bank cards and is considering other steps to make mobile pay for international visitors even easier, said Zhang Qingsong, deputy governor of the People's Bank of China. "Banks and vendors (such as hotels, restaurants, department stores and even coffee shops) are encouraged to accept foreign bankcards," Zhang said. Shopping malls have increasingly preferred not to accept foreign credit cards. Last summer, the two dominant mobile pay apps WeChat and AliPay started allowing verified users to connect their international credit cards — such as those from Visa . "Now, when using Alipay or WeChat Pay, foreign visitors do not need to provide ID information if their total annual transaction volume is under $500," he said.

Persons: Zhang Qingsong, Banks, Zhang, that's, AliPay, Tencent Organizations: Beijing Capital Airport, Visa, Mastercard, People's Bank of China, CNBC, Mobile, Alibaba, Ant Locations: BEIJING — China, Beijing, China

The proposal is in response to a Nashville elementary school shooting where a shooter killed six people including three children last year. To date, the Republican-dominant Legislature has rebuffed calls to enforce stricter gun control measures in response to the shooting. Bill Lee called in the wake of the tragedy at The Covenant School, but the Senate refused to consider the bill. As House members debated the bill, families whose children survived the shooting at The Covenant School stood in the front row of the public gallery. The three children who were killed in the shooting were Kinney, Evelyn Dieckhaus and Hallie Scruggs, all 9 years old.

Persons: William Kinney, they've, Bill Lee, Justin Pearson, ” Pearson, William Lamberth, Kinney, Evelyn Dieckhaus, Hallie Scruggs, Katherine Koonce, Mike Hill, Cynthia Peak Organizations: Tennessee House, Republican, Republican Gov, Covenant, Democratic, Senate Locations: Tenn, Memphis, ”

☆ Clocktower's chief strategist says Chinese stocks will likely rally 10% to 15% from here
▼ + stars: | 2024-02-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Jason Lee | APBEIJING — Chinese stocks will likely climb by at least 10% in coming days as authorities signal concerted support efforts, said Marko Papic, partner and chief strategist at Clocktower Group. Mainland Chinese stocks traded mostly higher Wednesday, following gains on Tuesday. A "10% to 15% rally in Chinese equities is likely in coming trading days," he said. Papic said he's been bearish on Chinese stocks for the past 12 months, and didn't rule out the possibility the latest rally "could be a dead cat bounce." Chinese stocks are still down for the year so far, following a 2023 marked by losses.

Persons: Jason Lee, Marko Papic, Papic, Xi Jinping, he's, Clocktower, Xi Organizations: AP BEIJING, Clocktower, U.S, Financial Regulatory Administration, China Securities Regulatory Commission, CNBC Locations: Beijing, China, Shanghai

☆ This global EV stock could double in price in 3 to 5 years, analyst says
▼ + stars: | 2024-02-07 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

But Jason Hsu, chairman and chief investment officer of Rayliant Global Advisors, believes that one stock will come out ahead. Hsu believes that as the EV market consolidates, BYD is "for sure going to emerge a winner." One potential curveball for the Chinese EV market is a U.S. decision to raise tariffs, which is reportedly under discussion . But Hsu believes that the markets have already priced in the possibility that those tariff hikes will be imposed. For global investors who want to buy BYD, its shares are listed on the Hong Kong exchange.

Persons: Tesla, Jason Hsu, CNBC's, Hsu, BYD, CNBC's Tanvir Gill, Evelyn Cheng Organizations: Rayliant Global Advisors, Toyota, Hong, BYD, China Clean Technology, China Growth Locations: That's Hong Kong, BYD, China, U.S, Europe, Hong Kong

☆ Alibaba shares jump 4% in premarket trade after it hikes share buyback program by $25 billion
▼ + stars: | 2024-02-07 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Shares of Alibaba jumped in premarket trade, as the company missed market expectations for revenue in the December quarter, but announced it is increasing the size of its share buyback program by $25 billion. U.S.-listed shares in the Chinese e-commerce giant were more than 4% higher in pre-market trade. Here's how Alibaba did in its fiscal third quarter, compared to LSEG estimates:Revenue: 260.35 billion Chinese yuan ($36.6 billion) versus 262.07 billion yuan expected. On top of its structural changes, Alibaba also scrapped the hotly-anticipated spinoff of its cloud computing business last year. More recently, two of Alibaba's co-founders, Jack Ma and Joe Tsai, in January bought shares worth around $200 million in the Chinese e-commerce giant.

Persons: Alibaba, Pinduoduo, Eddie Wu, Daniel Zhang, Alibaba's, Jack Ma, Joe Tsai, Evelyn Cheng Organizations: Revenue, Alibaba Locations: Suqian City, Jiangsu Province, China, premarket, U.S, Beijing

Over the last several years, such upstart consumer brands have been gaining market share in China and South Korea, according to a report from Bain and Company released Monday. China and South Korea stood out as markets where insurgent brands were doing particularly well. In South Korea, incumbent brands dominated just four sectors — fragrances, confectionery, diapers and bottled water, the report showed. High penetration of e-commerce in Indonesia (26%) and Singapore (13%) also gave insurgent brands a boost. Incumbent brands still hot

Persons: David Zehner, Bain, Zehner, There's, It's Organizations: Future Publishing, Bain and Company, Bain, CNBC Locations: Qingzhou city, East China's Shandong, Asia, China, South Korea, Pacific, South, Indonesia, Singapore, Malaysia, Philippines, India, confectionary

☆ While Chinese stocks search for a bottom, analysts say these shares are poised to bounce
▼ + stars: | 2024-02-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Chinese stocks have given up much of their recent gains as investors debate whether the bottom is really in. They screened for names with more than $1 billion in capitalization and expectations for earnings growth in the next two years. Such signals come at a time when Chinese stocks have sold off sharply. Chinese stocks – whether measured by those that trade in the mainland, Hong Kong or U.S. – have fallen for more than two years. "In the past Chinese companies grew rapidly, many companies' results grew exponentially," he said in Mandarin, translated by CNBC.

Persons: Evercore, Rachel Wang, Clocktower, Ye Yuhua, — CNBC's Michael Bloom Organizations: People's Bank of China, Seng Index, Shanghai, Morningstar, CNBC, Baidu, Li Auto Locations: U.S, Beijing, Hong Kong, China, Shanghai, Guangzhou

☆ IMF expects new housing demand in China to drop by around 50% in the next decade
▼ + stars: | 2024-02-02 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — Demand for new housing in China is set to drop by around 50% over the next decade, making it harder for Beijing to quickly bolster the country's overall growth. China's real estate sector and related industries have accounted for about a quarter of the country's gross domestic product. Zhang said China's housing demand would remain large, and policy support would gradually kick in. "Therefore, a significant decline in housing demand is very unlikely to happen," he said. The IMF report compared housing demand and new starts from the 2012 to 2021 period with estimates for 2024 to 2033.

Persons: Zhengxin Zhang, Zhang, Evergrande, Sonali Jain, Chandra, Nir Klein Organizations: Nurphoto, Getty, International Monetary Fund's, IMF, U.S ., People's Bank of China Locations: Huai'an, China, BEIJING, Beijing, Evergrande, Hong Kong, Asia, Pacific

☆ U.S. companies say it's harder to make money in China now than before the pandemic
▼ + stars: | 2024-02-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Aly Song | ReutersBEIJING — More U.S. companies are finding it harder to make money in China than before the pandemic, raising concerns that businesses may not stay long. "It is concerning when our member companies are not profitable," Michael Hart, AmCham China president, told reporters Thursday. It found that by far, the main reason for respondents to increase investment in China was to remain competitive there. Asked Thursday about those efforts, AmCham China Chair Sean Stein noted the measures incorporate suggestions from foreign business chambers in China, but AmCham would like Beijing "to make more tangible progress." Rising U.S.-China tensions were the top concern for members for a fourth-straight year, the AmCham survey found.

Persons: Aly Song, Michael Hart, Michael Hart AmCham, Hart, Wang Wentao, Sean Stein, Stein, AmCham Organizations: Bund, Reuters, Reuters BEIJING —, American Chamber of Commerce, of Commerce, German Chamber of Commerce, Commerce, U.S Locations: Shanghai, China, Reuters BEIJING, U.S, Beijing, Michael Hart AmCham China

☆ Demi Moore gives update on Bruce Willis
▼ + stars: | 2024-02-01 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —Though Bruce Willis and Demi Moore divorced more than 20 years ago, they remain close. The Swans,” Moore shared an update on Willis’ health. “I think, given the givens, he’s doing very well,” Moore said during an appearance on “Good Morning America.”It was announced in 2022 that Willis would be stepping away from his career due to cognitive issues. Moore and Willis divorced in 2000, but share three adult daughters, Rumor, Scout and Tallulah. Willis has been married for more than 16 years to Emma Heming Willis, with whom he shares two young daughters, Mabel and Evelyn.

Persons: Bruce Willis, Demi Moore, ” Moore, Willis, givens, he’s, Moore, Emma Heming Willis, Mabel, Evelyn Organizations: CNN, America, Scout, GMA Locations: Tallulah, “

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