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☆ China comes just shy of Japan as the world's largest car exporter
▼ + stars: | 2024-01-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

"In the first eleven months of 2023, auto shipments to Russia rose about six times that of 2022 in value terms." While he said it's still unclear exactly why Chinese cars are growing so quickly in Mexico, part of the reason is international automakers. Germany's Volkswagen was among the foreign car companies on track for their worst China market sales in years. Local vs. overseas marketsChinese car makers will likely increase their share of the domestic auto market to 75% by 2030, said Francoise Huang, senior economist at Allianz Trade. That would result in a nearly 40% drop in European car sales in China, she said.

Persons: Sarah Tan, Tan, Jorge Guajardo, Guajardo, it's, they've, BYD, Francoise Huang Organizations: Publishing, Getty, Ministry of Commerce, Moody's, D.C, Dentons Global Advisors, CNBC, Volkswagen, China, Allianz Trade, European Union Locations: LIANYUNGANG, CHINA, Lianyungang, Jiangsu province, China, BEIJING, Japan, Russia, Ukraine, Mexico, Belgium, Washington, U.S, Europe

☆ U.S.-China fentanyl talks get off to a 'productive' start, security advisor says
▼ + stars: | 2024-01-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Chinese Minister of Public Security Wang Xiaohong (C) announces the launch of the U.S.-China Counternarcotics Working Group next to U.S. Deputy Assistant to the President and Deputy Homeland Security Advisor Jen Daskal (center L) at the Diaoyutai State Guesthouse in Beijing on January 30, 2024. Ng Han Guan | Afp | Getty ImagesBEIJING — The U.S. and China had a "productive" first day of talks in Beijing about the fentanyl crisis, Jennifer Daskal, a deputy homeland security advisor, told NBC News' Janis Mackey Frayer in an exclusive interview Tuesday. "We're looking for results and we had a productive step forward," Daskal said, while acknowledging the risk that China could use its sway over the fentanyl supply chain as a bargaining chip. Daskal, leader of the White House delegation for this week's high-level talks, said the diversity of representatives from both sides "showed a real commitment." "We will know if it works if we start seeing the supply of precursor drugs diminish, if we start seeing the supply of pill presses and other equipment diminish," Daskal said.

Persons: of Public Security Wang Xiaohong, Jen Daskal, Ng, Guan, Jennifer Daskal, Janis Mackey Frayer, Daskal, Joe Biden, Xi Jinping, Wang Xiaohong, Wang, Biden, Hua Zhendong, Mackey, Hua, Yu Haibin, Yu, NBC's Mackey Frayer Organizations: of Public Security, U.S ., Homeland, Getty, NBC News, National Narcotics Control Commission, Public Security, Public Security's Institute of Forensic Science, China -, Counternarcotics, White House, International Narcotics Control Locations: U.S, China, Diaoyutai, Beijing, Afp, BEIJING, The U.S, Mexico, Washington, San Francisco

☆ Exclusive: Organic baby food startup Yumi has slashed its valuation after running low on cash
▼ + stars: | 2024-01-31 | by ( Ben Bergman | ) www.businessinsider.com time to read: +3 min

Yumi, a startup backed by a long list of prominent Silicon Valley investors that makes high-end organic baby food, is raising a down round that values the company at around $40 million, Business Insider has learned. The funding represents a substantial discount from Yumi's Series B round in 2021, which valued the company at more than $300 million, according to Pitchbook data. It also means Yumi has burned through more than twice as much cash, nearly $90 million dollars, as it is currently worth. Startup fundraising tumbled to a five-year low in 2023 with funding for e-commerce and shopping startups down 60%, according to Crunchbase data. Convoy, the freight startup that was once called the "Uber for trucking" and raised more than $1 billion, shut down in November.

Persons: Yumi, Evelyn Rusli, Angela Sutherland, Gerber, Sutherland, Rusli, Anne Wojcicki, Gabrielle Union, Warby Parker, Goldman Sachs, Christina Minnis, Kelly Coffey, Masha Drokova, Lauren Dillard Organizations: Business, BI, Walmart, New York Times, Wall Street Journal, New Enterprise Associates, Uber, City National Bank, One Ventures, Nasdaq, Startup, Convoy, Olive Locations: millennials

☆ Alibaba-backed Xreal, rival to Apple's Vision Pro, claims it's now an AR glasses unicorn
▼ + stars: | 2024-01-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

That valuation gives the startup unicorn status, the first in the AR glasses industry, Xreal claimed. Augmented reality (AR) technology allows digital images to be imposed over the real world. Xreal's latest AR glasses model, the Air 2 Ultra, is set to start shipping in March. On Jan. 8, Xreal said it had shipped 350,000 AR glasses since the company was launched in 2017. The startup said it plans to use the latest funding for research and development, as well as factory expansion.

Persons: Xreal, — CNBC's Arjun Kharpal Organizations: Xreal, Air, Vision Locations: BEIJING, U.S

☆ Race for China’s EV market could last 3 years, BYD says, claiming it wants to work with Tesla
▼ + stars: | 2024-01-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Chinese automaker BYD had one of the biggest stands at the IAA show in Munich, Germany in 2023. BEIJING — Competition for China's electric car market will continue to heat up in the next two to three years, according BYD , which claimed it wants to work with Tesla to grow the market. Chinese battery and electric car maker BYD has grown rapidly in recent years, with total vehicle production in 2023 surpassing that of Elon Musk's Tesla. Fierce competition in China's electric car market in the last two years has resulted in the lowest prices for the vehicles globally, Yunfei Li, general manager of branding and public relations at BYD, told reporters Monday. Government subsidies and license plate restrictions have helped boost new energy car sales, while startups and traditional automakers have incorporated flashy new tech to attract buyers.

Persons: BYD, Tesla, Elon Musk's Tesla, Li Organizations: IAA, BEIJING —, CNBC Locations: Munich, Germany, BYD, China

☆ China's luxury market is bouncing back with new areas of opportunity
▼ + stars: | 2024-01-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

The company's results showed that despite some resumption of overseas travel, more of China's consumers are buying luxury products at home. watch nowThe mainland China personal luxury market grew by about 12% last year to more than 400 billion yuan ($56.43 billion), according to consulting firm Bain & Company. "All of that data points to the importance of the Chinese luxury consumer and the China market," she told CNBC. Luxury brands have increasingly turned to online channels to ensure customer engagement, said Xing from Bain. As companies compete for a slice of the Chinese consumer market, one emerging segment is bedding and fine linen.

Persons: Louis Vuitton, they're, LVMH, Bernard Arnault, that's, Bain, Weiwei Xing, Cartier, Richemont, Burkhart Grund, Xing, Ding Shizhong, Ashley Dudarenok Organizations: Future Publishing, Getty, BEIJING, Bain & Company, CNBC, Consumers Locations: Shanghai, China, Hong Kong, Greater China, Macao, Bain

☆ Chinese stocks are starting to turn around. How to play it
▼ + stars: | 2024-01-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Chinese stocks ended the week with four straight days of gains — a rare upswing after a dismal start to the year. "Investing in China, you have to have an active strategy," he said, emphasizing the need to focus on industries that receive policy support. All three are listed on mainland Chinese stock exchanges. In the past six months, foreign investors have pulled around $30 billion from mainland Chinese A shares, the report said. Citi analysts also include adidas and Kone in their basket of European stocks with China exposure.

Persons: David Chao, Chao, Pan Gongsheng, Edward Chan, Schelling Xie, Xie, CRRC, —, Peter Alexander, Alexander, — CNBC's Michael Bloom Organizations: Asia Pacific, People's Bank of China, PBOC, . Federal Reserve, Financial Regulatory Administration, CNBC, HSBC, Hong, Citi, adidas, Kone Locations: Asia, Japan, Invesco, China, Beijing, Hong Kong, Shanghai, U.S

☆ U.S. and China are working to make the business environment less volatile, Beijing says
▼ + stars: | 2024-01-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Aly Song | ReutersBEIJING — China and the U.S. are working toward creating a more stable and predictable environment for businesses, Chinese Commerce Minister Wang Wentao said Friday. U.S. and other foreign businesses in China have long complained of challenges to doing business in the Asian country, such as unequal treatment of foreign companies compared to local players. The move was widely seen as an improvement for foreign businesses, but no official policy has yet followed. When asked Friday for an update on data rules, Wang only said the "primary ministry is stepping up efforts to release them." When Raimondo visited China last year, she called for more action to improve predictability for U.S. businesses in China.

Persons: Aly Song, Wang Wentao, Gina Raimondo's, Wang, Raimondo, Biden Organizations: Chinese Communist Party, Reuters, Commerce, CNBC, Cyberspace Administration of China, CAC, of Commerce Locations: China, U.S, Yiwu, Zhejiang province, Reuters BEIJING, Washington, France

☆ Buy or avoid China? The pros share their take — and stock picks
▼ + stars: | 2024-01-26 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

But this week, China embarked on monetary easing as it pledged to reduce the amount of liquidity that its banks are required to hold as reserves. Earlier this week, Bloomberg News, citing sources, reported that China is considering a $278 billion package to rescue its stock markets. Andrew Lapping, chief investment officer at Ranmore Fund Management , says the sharp decline in China markets is an "opportunity." "So the stock market is certainly putting much higher equity risk premium ... there are also concerns about policy direction, policy clarity ... Renewable energy: China Longyuan Power Group, China Resources Power.

Persons: Brendan Ahern, CNBC's, Andrew, Winnie Wu, Guy Spier, CNBC's Tanvir Gill, —, Wu, what's, Ahern, Amundi, It's, Morgan Stanley, Michael Bloom, Evelyn Cheng Organizations: Bloomberg, Investors, Ranmore Fund Management, BofA Securities, CCP, JPMorgan, EV, UBS, Baidu, China Communications, China Construction Bank, Ping An Insurance, China Longyuan Power Group, China Resources Power Locations: China, United States, Industrials

☆ China is ramping up stimulus to boost market confidence — but is it enough?
▼ + stars: | 2024-01-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Starting Feb. 5, the People's Bank of China will allow banks to hold smaller cash reserves, central bank governor Pan Gongsheng said at a press conference, his first in the role. Cutting the reserve requirement ratio (RRR) by 50 basis points is set to release 1 trillion yuan ($139.8 billion) in long-term capital, the central bank said. A 2 trillion yuan boost? Chinese Premier Li Qiang on Monday called for much stronger measures to boost market stability and confidence, according to an official readout. Chinese authorities in October already announced the issuance of 1 trillion yuan in government bonds, alongside a rare increase in the deficit.

Persons: Gongsheng, Pan Gongsheng, Tao Wang, Ting Lu, a, Lu, Wang, Stocks, Winnie Wu, That's, Li Qiang, Pan, Philip Yin, David Chao, Pan's Organizations: People's Bank of China, State Administration of Foreign Exchange, Financial, Getty, Visual China, People's Bank of, UBS Investment Bank, Wednesday, National Financial Regulatory Administration, UBS, Bank of America's, Bloomberg, PBOC, Citi, U.S, Asia Pacific, CNBC Locations: BEIJING, CHINA, Beijing, China, People's Bank of China, Asia, Hong Kong, capitulating, Japan, Invesco

Pan Gongsheng was named party secretary of the People's Bank of China on July 1, 2023. BEIJING — China will cut reserve ratio requirements by 50 basis points from Feb. 5, while providing 1 trillion yuan in long-term capital in its latest attempt to boost growth in the world's second largest economy. People's Bank of China Governor Pan Gongsheng announced the measures Wednesday at a press conference in Beijing. This comes after China vowed Monday to "strengthen the market's inherent stability" amid a rout in the country's onshore and offshore stock markets. The Chinese economy is fraught with financial risks, with some of its largest real estate developers facing serious debt problems as Beijing strives to deleverage its once-bloated real estate sector.

Persons: Pan Gongsheng Organizations: People's Bank of China Locations: BEIJING, China, Beijing

☆ China’s EV players ramp up competition with Tesla using new tech
▼ + stars: | 2024-01-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

CNBC | Evelyn ChengBEIJING — Hot competition in China's electric car market is pushing local automakers to sell vehicles with fancy tech that Tesla doesn't yet offer in the country — and sometimes at lower prices. Tesla's cars don't come with those accessories, and Elon Musk's automaker only offers a limited version of its driver-assist tech in China right now. Xpeng 's G9 SUV, widely considered a leader in China for driver-assist tech on city streets, starts at 289,900 yuan. That's because electric car batteries and other parts aren't made in the U.S., which means American companies are already paying a premium for core components of the electric car, Li said. Traditional foreign auto giants like Volkswagen are struggle to adjust to the surge of electric cars in China, while domestic companies, including smartphone company Xiaomi and Geely-backed startup Zeekr, are rushing to release electric cars.

Persons: Evelyn Cheng, Tesla, Elon, Li Yi, Aito, Li Auto, Yiming Wang, Wang, Li, wasn't, Appotronics, aren't, BYD, Zhong Shi, Omer Ganiyusufoglu Organizations: CNBC, Elon Musk's, Huawei, HSBC, Consumers, China Renaissance Securities, Price, U.S ., U.S, China Automobile Dealers Association, BYD, Volkswagen, German's National Academy of Science, Engineering Locations: Evelyn Cheng BEIJING, China, Shenzhen, Europe, Shanghai, U.S, Tesla

☆ Five takeaways from the New Hampshire primary
▼ + stars: | 2024-01-23 | by ( Eric Bradner | ) edition.cnn.com time to read: +9 min

But she’ll be battling history: In modern presidential campaign history, no non-incumbent has won the Iowa caucuses and New Hampshire primary without going on to win his party’s nomination. Here are five takeaways from the New Hampshire primaries:Trump wants Haley out — nowIn what were expected to be celebratory remarks Tuesday night in New Hampshire, Trump instead sounded annoyed that Haley had not yet dropped out of the Republican primary race. There are dozens of states left to go,” Haley told supporters in her election night speech Tuesday in New Hampshire. Haley waves to the audience as she speaks at a New Hampshire primary night rally, in Concord, New Hampshire, on Tuesday. (Trump skipped all five Republican primary debates, and has shown no indication he’d consider participating in one.)

Persons: Donald Trump, Nikki Haley, Haley, she’ll, Trump, seethed, “, Joe Biden, —, ”, Vivek Ramaswamy, South Carolina Sen, Tim Scott, ” Ramaswamy, Haley’s, “ megadonors, Scott, Tim, ” Trump, ” Scott, Julie Chavez Rodriguez, won’t, ” Haley, What’s, Ron DeSantis, Mark Harris, Charles Krupa, Biden, Haley outperforms, ” Biden, Biden’s, Evelyn Hockstein, Dean Phillips, Marianne Williamson, Jen O’Malley Dillon, Mike Donilon Organizations: CNN, New, South Carolina Gov, Republican, Trump, White House, Republicans, America, South Carolina Republican, Senate, ’, South Carolina —, Florida Gov, —, Haley, SFA Fund, Republicans ’, South, Trump’s, New Hampshire Republican, Democratic, Democratic National Committee, Hylton Performing Arts Center Locations: New Hampshire, South Carolina, Iowa, Virginia, “, “ New Hampshire, Nevada, Florida, North Charleston, Concord , New Hampshire, CNN’s, America, Manassas , Virginia, Minnesota, Wilmington

☆ Why China poses a growing threat to the U.S. auto industry
▼ + stars: | 2024-01-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Tesla CEO Elon Musk, whose company operates a large plant in China, has said Chinese automakers are the greatest competitors for his Texas-based company. "They were 26% [market share] a few years ago, up to more than 50% in 2022 and headed towards two-thirds by the end of the decade." Chinese companies have begun expanding into Mexico, Europe and elsewhere, Wakefield said. The EU believes Chinese EVs are undercutting the prices of local models by about 20% in the European market. The influx of Chinese EVs has spurred the European Union to launch into government support for the industry.

Persons: —, Carlos Tavares, Elon Musk, Tesla, Musk, BYD, Massimo Pinca, Reuters BYD, Kristin Dziczek, Mathew Vachaparampil, Bernstein, Eunice Lee, Mark Wakefield, Evelyn Cheng, hasn't, Wakefield, That's Organizations: GM, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, DETROIT, American, of, SAIC, Dongfeng, General Motors, U.S . Bureau, Analysis, America —, Chrysler, America's GM, Ford Motor, automakers, The New York Times, Economist, Reuters, Federal Reserve Bank of Chicago's, Caresoft, Overseas, Chicago, CNBC, European Union, EU, Union, Volvo, Karma, Ford, U.S, Buick, Lincoln Nautilus Locations: Shanghai, U.S, of China, Asia, Europe, China, Japan, Nio, Mexico, Korea, Germany, Beijing, Texas, Turin, Italy, Federal Reserve Bank of Chicago's Detroit, AlixPartners, Russia, America

☆ China vs. India? Where one Asia investment manager is buying in a world of uncertainty
▼ + stars: | 2024-01-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

India stocks have run up so high that China looks relatively attractive, said Abrdn's Xin-Yao Ng, Singapore-based investment manager of Asian equities. Until the Chinese economy rebounds, his strategy is to pick stocks. Chinese stocks have dropped over the last several months, with the Shanghai Composite trading near lows not seen since the early months of the pandemic in 2020. All this follows a year in which mounting concerns about China's economy and lack of stimulus have kept investors on the sidelines. But for China's economy overall, a slew of concerns from geopolitics to an aging population remain.

Persons: Abrdn's Xin, Yao Ng, Abrdn's Ng, Ng, Li Qiang, he's, Abrdn, We've Organizations: Shanghai, Equity Fund, Eye, Nike Locations: India, China, Singapore, Davos, Mindray

☆ Republican lawmakers in Iowa seek to block guaranteed basic income programs, calling them 'insane'
▼ + stars: | 2024-01-20 | by ( Kenneth Niemeyer | Katie Balevic | ) www.businessinsider.com time to read: +5 min

Read previewRepublican lawmakers in Iowa are pulling out all the stops to block guaranteed basic income plans they described as "socialism on steroids." Guaranteed basic income programs typically offer no-strings-attached cash to certain groups, like the poor or new mothers. Universal basic income, its like-minded cousin, offers cash to entire populations regardless of income. Numerous counties and cities, many of them in red states, across the United States have been experimenting with guaranteed basic income plans. Holt called basic income programs an "attack on the work ethic in this country."

Persons: —, Steve Holt, Skyler Wheeler, Holt, Wheeler, Tonaeya Moore, It's, Moore, Joe Biden's, Nalo Johnson, Johnson, MINCOME, Evelyn Forget, Forget Organizations: Service, Business, The Gazette, Baltimore Young, Tax, Iowa Health Foundation, Gazette Locations: Iowa, United States, Texas, Harris County, Houston, Cedar Rapids, Flint , Michigan, Canada, Canadian

☆ China's working age population is shrinking
▼ + stars: | 2024-01-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Many Meituan food delivery workers are lining up to make preparations in Shanghai, China, on January 14, 2024. (Photo by Costfoto/NurPhoto via Getty Images)BEIJING — China's working age population is shrinking as a share of the total number of people in the country, according to official data released Wednesday. People ages 16 to 59 accounted for 61.3% of mainland China's population last year, down from 62% the prior year, National Bureau of Statistics data showed. A shrinking working age ratio means fewer people have to support a larger share of the population, even as the number of people in China overall declines. China's total population dropped by more than 2 million people to 1.41 billion in 2023 from the prior year.

Organizations: Getty Images, National Bureau Locations: Shanghai, China, BEIJING

The topic of Donald Trump has dominated dinners and parties at Davos, with many in attendance at the World Economic Forum mulling the former president's potential return to the White House after his resounding Iowa caucus victory. 2024 predictionsJamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Steve Schwarzman, Chairman, CEO & Co-Founder Blackstone Group, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBCBlackstone CEO Stephen Schwarzman expressed another common theme among executives — that both Trump and U.S. President Joe Biden are flawed choices. Marc Benioff, co-founder, chairman and CEO Salesforce, speaking with CNBC's Sara Eisen at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024.

Persons: Donald Trump, Evelyn Hockstein, —, I'm, Trump's, Jamie Dimon, JPMorgan, Adam Galici, Jamie Dimon wouldn't, CNBC's, Dimon, Biden, Trump, he's, Steve Schwarzman, Stephen Schwarzman, Joe Biden, Schwarzman, Ben Smith, Smith, Marc Benioff, Salesforce, Bloomberg's Brad Stone, CNBC's Sara Eisen Organizations: Reuters, Switzerland — Global, Washington , D.C, Trump, ., JPMorgan Chase, CNBC, NATO, White, U.S, Capitol, Blackstone Group, CNBC Blackstone, Biden, Wall Street Locations: Des Moines , Iowa, U.S, Reuters DAVOS, Switzerland, Washington ,, Davos, Trade, China, Mexico, United States

☆ China's youth unemployment rate still high at 14.9%
▼ + stars: | 2024-01-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's youth unemployment rate still high at 14.9%Excluding people still in school, the unemployment rate for young people aged 16 to 24 was 14.9%, while the rate in cities in December was 5.1%. CNBC's Evelyn Cheng reports.

Persons: CNBC's Evelyn Cheng

☆ China misses fourth-quarter GDP estimates, resumes posting youth unemployment data
▼ + stars: | 2024-01-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

BEIJING — China missed fourth-quarter GDP estimates on Wednesday, while it resumed reporting the unemployment rate for young people. GDP for the last three months of 2023 rose by 5.2%, according to China's National Bureau of Statistics. Excluding people still in school, the unemployment rate for young people aged 16 to 24 was 14.9%, while the rate in cities in December was 5.1%. Online retail sales of physical goods rose by 8.4%, accounting for nearly 28% of overall retail sales. Retail sales for December saw a 29% surge in jewelry and 26% increase in purchases of clothes and shoes.

Persons: Zhiwei Zhang Organizations: China Vanke Co, National Bureau of Statistics, Investment Locations: China, Hefei, BEIJING

☆ China's economic growth is set to slow in 2024. Here's what Wall Street is predicting
▼ + stars: | 2024-01-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

China was due Wednesday to release GDP figures for 2023, and previously announced an official target of around 5% growth for the year. Despite significant growth in sectors such as tourism and electric cars, China's economy last year did not rebound from the pandemic as quickly as many banks had initially expected. watch nowThe International Monetary Fund in November also cited China's policy announcements as a reason for its decision to raise the 2023 growth forecast to 5.4%, from 5% previously. However, the IMF said it still expected China's growth to slow in 2024 to 4.6% "amid continuing weakness in the property market and subdued external demand." In the long term, analysts generally expect China's economy to slow further from a high base.

Persons: Pan Jianyong, Goldman Sachs, Morgan Stanley, Li Qiang, Haibin Zhu, Li Organizations: Co, Getty, Visual China, BEIJING —, Economic, Tuesday, UBS, Citi, JPMorgan, CNBC, China, China Economic, Monetary Fund Locations: MEISHAN, CHINA, Sichuan, Meishan, Sichuan Province, China, Davos, Beijing, decelerating

☆ Fears of prolonged Red Sea shipping crisis fuel inflation fears, as oil, retail cargo delays rise
▼ + stars: | 2024-01-17 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

"If so, we expect the soaring freight rates and equipment shortage will continue till the third quarter," it advised clients. This would be on top of the revenue lost by diverted container vessels which are required to pay between $500,000-$600,000 per transit. "However, given the longer transit times vessels are experiencing, the market may face a shortage of empties across Asia until sailings normalize." Evelyn Fornes, Home Depot spokeswoman, said it is working with logistics carriers to find alternate routes to limit any impact from the Red Sea conflict. East Coast freight rates soar While freight rates for U.S. West Coast ports have yet to spike, freight rates for the East Coast and Gulf are up.

Persons: Folden, Shell, Jean, Charles Gordon, Nyttingnes, Torm, Euronav, Tom, Hafnia, Andy Lipow, Kuehn, Nagel, Ami Daniel, Goetz Alebrand, Stephen Schwarz, Paolo Montrone, Kuehn + Nagel, Alan Baer, Baer, Evelyn Fornes, Fornes, Lane Organizations: Galaxy, Houthis Media, Getty Images, Anadolu, Getty, U.S, Clarksons Securities, Honour Lane Shipping, Wall Street, Shell, Suez, Authority, Lipow Oil Associates, Logistics, CNBC, DHL Global, Asia Pacific, Kuehn, USA, Home, Costco, Walmart, Home Depot, Volvo, Michelin, Ikea, East, U.S . Locations: Iran, Yemen, Anadolu, Hafnia, Ardmore, Suez, Israel, Americas, Asia, Europe, Wells Fargo, Red, U.S, East Coast, U.S . West Coast, Gulf, East, West, West Coast

☆ China's premier tells Davos that innovation shouldn't be used to restrict other nations
▼ + stars: | 2024-01-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Li Qiang, China's premier, delivers a special address on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 16, 2024. Bloomberg | Bloomberg | Getty ImagesChinese Premier Li Qiang said that tech innovations should not be used as a way to restrict or contain other countries. "Scientific and technological fruits should benefit humanity as a whole, instead of becoming a means to restrict or contain the development of other countries," Li added, calling for "more open measures." watch nowFollowing his speech, Li spoke about the risks and opportunities of generative AI, such as ChatGPT, in a brief question-and-answer session with World Economic Forum Founder Klaus Schwab. Li met with Swiss President Viola Amherd ahead of the Davos conference and is set to visit Ireland later in the week.

Persons: Li Qiang, Li, Klaus Schwab, ChatGPT, ”, multilateralism, Viola Amherd Organizations: Economic, Bloomberg, Getty Images, Baidu, Swiss, Davos, Ireland, Monday Locations: Davos, Switzerland, Beijing, Washington, U.S, China, Swiss

How LGFCU accounts compare Local Government Federal Credit Union Share SavingsLocal Government Federal Credit Union Checking AccountLocal Government Federal Credit Union Money Market AccountLocal Government Federal Credit Union Share Term Certificates Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. To become a member of Local Government Federal Credit Union, you must open a Local Government Federal Credit Union Share Savings account. How to Join Local Government Federal Credit UnionTo become a member of Local Government Federal Credit Union, you must work or volunteer at North Carolina local government. How Local Government FCU ComparesLocal Government Federal Credit Union vs. Truliant Federal Credit UnionTruliant Federal Credit Union is a CDFI that serves local communities in North Carolina, South Carolina, and Virginia. Local Government Federal Credit Union offers higher interest rates, but Truliant Federal Credit Union doesn't charge monthly services.

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☆ Kate Moss at 50: A supermodel through the decades
▼ + stars: | 2024-01-16 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +7 min

CNN —British supermodel Kate Moss turns 50 today — and she remains as much a cultural icon as when she emerged as a breakout star more than three decades ago. Johnny Green/PA/Getty Images Kate Moss and her then-boyfriend, the actor Johnny Depp, attend the Golden Globe Awards in 1995. Dave M. Benett/Getty Images Kate Moss and Jamie Hince pose with bridesmaids after getting married on July 1, 2011 in Southrop, England. Jewel Samad/AFP/Getty Images Moss arrives for a screening of the movie "Loving" at the 2016 Cannes Film Festival. Scroll through the gallery above to see some of the most memorable moment’s from Kate Moss’ life and career.

Persons: Kate Moss, Moss, it’s, ”, Corinne Day, Cindy Crawford, Naomi Campbell, Claudia Schiffer, Chanel, Calvin Klein, Johnny Green, Johnny Depp, Ron Davis, Pierre Verdy, Donatella Versace, De, UPPA, Zuma Moss, Pete Doherty, MJ Kim, Alexander McQueen's, Andy Paradise, Banksy, Andy Warhol's, Marilyn Monroe, Carl De Souza, Marc Jacobs, Patrick McMullan, Mario Testino, Kate Who, Dave M, Jamie Hince, bridesmaids, Neil Mockford, Stella Tennant, Lily Cole, Karen Elson, Jourdan Dunn, David Gandy, Jewel Samad, Antonin Thuillier, Stella McCartney, Chris Joseph, Louis Vuitton's, Peter White, Lila, Princess Eugenie of York, Jack Brooksbank, George's, Alastair Grant, Stephane De Sakutin, Amber Valletta, Daniele Venturelli, Amber Heard, Evelyn Hockstein, Jamie McCarthy, David Bailey, Kate, ” Moss, Jefferson Hack, Marc Quinn, Lucian Freud, Johnny Cash, Paul McCartney, Elton John Organizations: CNN, Vogue, Burberry, British Vogue, Getty, Globe, Glastonbury Music, Olympic, London, Louis, Milan, BBC, Forbes, Stripes Locations: British, South London, Croydon, London, Couture, Paris, AFP, Glastonbury, New York City, Southrop, England, St, Windsor , England, Fairfax, Fairfax , Virginia, Arizona, Egypt

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