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☆ Nikkei 225: Japan stocks rebound sharply after worst rout in history as other Asia markets also rally
▼ + stars: | 2024-08-05 | by ( Laura He | Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Japanese shares soared in early trading on Tuesday, clawing back most of their record losses from the previous day and underpinning a regional rally. The Nikkei 225 last traded about 10% higher, while South Korea’s Kospi rebounded by about 3%. They all suffered major losses during the previous trading session. The bounce in Japan is “typical after a market crash,” Neil Newman, head of strategy at Astris Advisory in Tokyo, told CNN. Losses like that led the Nikkei to close 12.4% lower on Monday in its largest one-day fall since October 1987.

Persons: clawing, Kospi, ” Neil Newman Organizations: Hong Kong CNN, Nikkei, Advisory, CNN, Kikkoman, Nasdaq, Bank of Japan Locations: Hong Kong, South, Taiwan, Japan, Tokyo

☆ Nikkei 225 falls more than 5%, hovering near bear market territory, as Asia-Pacific sell-off continues
▼ + stars: | 2024-08-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Japan's markets led losses in the region as the Nikkei 225 and Topix dropped as much as 7% in volatile trading. At these levels, both the Nikkei and Topix are nearing bear market territory, having fallen almost 20% from their all-time highs on July 11. Stock Chart Icon Stock chart iconMonday's decline follows Friday's rout when Japan's Nikkei 225 and Topix fell more than 5% and 6%, respectively. The broader Topix marked its worst day in eight years, while the Nikkei marked its worst day since March 2020. The Reserve Bank of Australia kicks off its two-day monetary policy meeting Monday.

Persons: Topix, Australia's, Kospi Organizations: Bloomberg, Getty, Nikkei, Mitsubishi, Mitsui, Co, Sumitomo, Topix, P, Reserve Bank of Australia, Reuters Locations: Shibuya, Tokyo, Japan, Asia, Pacific, China, Taiwan, Australia, India, Hong Kong

☆ Global stock markets are sliding as Japan suffers biggest fall since 1987
▼ + stars: | 2024-08-05 | by ( Huileng Tan | Polly Thompson | ) www.businessinsider.com time to read: +5 min

Read previewJapan's main stock market index suffered its biggest fall since 1987, closing 12.4% lower on Monday, while markets in Asia and Europe also fell sharply. US stock markets sunk at the end of last week as investors digested a streak of negative economic data and disappointing earnings from Big Tech companies. The Chinese stock markets were already under pressure this year due to the country's economic troubles. Japan kept interest rates ultra-low for decades following the implosion of an asset bubble in the 1990s that contributed to persistent deflation. AdvertisementThe BoJ's rate hike has also fanned further risk-off sentiment in global stock markets.

Persons: —, Tony Sycamore, Taiwan's Taiex, Paris, it's, Sycamore, Vishnu Varathan, Mizuho Bank's Organizations: Service, Nikkei, Business, Big Tech, Nasdaq, IG Australia, Bloomberg TV, Kospi, CSI, Federal Reserve, Bloomberg, Bank of Japan, ING Locations: Asia, Europe, Frankfurt, London, Japan

Hong Kong/London CNN —Japanese shares soared Tuesday, clawing back some of their record losses from the previous day and underpinning a tentative recovery on global markets. Markets around the world plunged during Monday’s session when a combination of fears about a slowing US economy, rising Japanese interest rates and crumbling tech stocks combined to trigger a meltdown. The bounce in Japan is “typical after a market crash,” Neil Newman, head of strategy at Astris Advisory in Tokyo, told CNN. “It is too early to conclude that the Japanese stock market has hit a bottom,” they said, adding that any recovery would likely only occur after Japanese companies report first-half earnings in October, or even after the US presidential election in November. A stronger yenJapan’s stock market, in particular, was hard-hit by the rapid appreciation of the yen, which undermines the export competitiveness of the country’s manufacturers.

Persons: clawing, Kospi, ” Neil Newman, ”, “, Stephen Innes, ” Newman, Newman, Fumio Kishida Organizations: London CNN, Nikkei, Nasdaq, Advisory, CNN, UBS Chief Investment, Moody’s, Bank of Japan, Management, Tokyo “, Traders, Reuters Locations: Hong Kong, London, Asia, South, Taiwan, Europe, Japan, Tokyo, South Korea

☆ China moon samples reveal water molecules in groundbreaking discovery, scientists say
▼ + stars: | 2024-08-05 | by ( Jessie Yeung | ) edition.cnn.com time to read: +9 min

NASA and Indian spacecraft have spotted what they believe to be water on the moon’s surface, and Chinese scientists last year found water trapped in glass beads strewn across the moon. But people didn’t always know there was water on the moon, though scientists theorized about its existence for hundreds of years. “I think it has lots of potential, this new finding that we can extract molecular water directly from lunar soils,” Qian said. After the latest study, many Weibo users raised the possibility of growing plants or crops on the moon using the molecular water found in soil. “We can’t work behind closed doors – it would be best to attract all of their scientists to China,” one wrote.

Persons: China’s Chang’e, ”, David A, Ren Junchuan, Yuqi Qian, didn’t, NASA’s, Luna, Qian, ” Qian, “, Xi Jinping’s, it’s, ” Kring, hasn’t, Bill Nelson, Weibo Organizations: Hong Kong CNN, NASA, Indian, Planetary Institute, University of Hong, China National Space Administration, Xinhua, CNN, “, International Space, Weibo Locations: China, Hong Kong, ULM, Texas, Xinhua, University of Hong Kong, Soviet, SOFIA, United States

☆ Markets Around the World Are Rattled by Fears of Slowing U.S. Growth
▼ + stars: | 2024-08-05 | by ( Daisuke Wakabayashi | More About Daisuke Wakabayashi | ) www.nytimes.com time to read: +1 min

A sell-off in markets around the world turned into a rout on Monday as investors grew panicky about signs of a slowing American economy, with stocks tumbling across Asia. The declines were especially pronounced in Japan, where the Topix index, which includes companies that represent a broad swath of the country’s economy, fell 12.2 percent. The decline at one point triggered a “circuit breaker” mechanism that halts trading to let markets digest large fluctuations. The Nikkei 225 index, considered the benchmark in Japan, also fell 12.4 percent. South Korea’s benchmark Kospi index fell more than 10 percent, triggering its own halt in trading.

Organizations: Equity, Nasdaq Locations: Asia, Japan, Taiwan, Singapore, Australia, Hong Kong, Europe, United States

☆ Global markets are off to a terrible start this week, and Japan is partly to blame
▼ + stars: | 2024-08-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewGlobal markets are off to a terrible start to the week. Stock markets are crashing across Asia after Japan's interest-rate hike last week contributed to a selloff that got worse and worse. AdvertisementInvestors are also on edge before the US markets open later in the global day. Global carry trade unwindingThe Bank of Japan raised its interest rate from between 0% and 0.1% to 0.25% on Wednesday — the highest level in 15 years. Japan kept interest rates ultra-low for decades following the implosion of an asset bubble in the 1990s that contributed to persistent deflation.

Persons: —, Kospi, India's Sensex, Tony Sycamore, Sycamore, Vishnu Varathan, Mizuho Bank's Organizations: Service, Stock, Business, IG Australia, Bloomberg, CSI, Dow Jones Industrial, Nasdaq, Federal Reserve, Bank of Japan, ING Locations: Asia, Japan

☆ Pan Zhanle: China’s internet explodes with pride at ending US swimming 4x100m medley relay reign
▼ + stars: | 2024-08-05 | by ( Nectar Gan | Hassan Tayier | ) edition.cnn.com time to read: +6 min

This is China’s second gold in swimming at the Paris Olympics, following Pan’s record-setting win last Wednesday. In China, many social media users saw the Chinese swim team’s historic win in the relay as a resounding vindication. The hashtag “Pan Zhanle’s stunning reversal” racked up more than 500 million views, as did another hashtag about the relay gold medal. Pan, who turned 20 on Sunday, called the team gold medal his birthday present. The Chinese swim team is always the best!”Pan also won fans for his confidence and candidness.

Persons: Pan Zhanle, Pan, WADA, –, “, ”, Pan’s, Christian Liewig, Brett Hawke, Adam Peaty, we’ve, I’ve, ” Peaty, you’ve Organizations: Hong Kong CNN, Olympics, Team USA, Paris, Tokyo, China’s, Doping Agency, Tokyo Games, New York Times, ARD, Paris Olympics, Australian Olympic, British, Reuters Locations: China, Hong Kong, States, Beijing, Weibo, Paris, Australian

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Persons: Chase, Chase Travel ℠, you'll, Sapphire, John F, Chase Sapphire, You'll, Uber Cash, we've, you'd, you've, they'll, David E, David, —, Read, Katherine Fan, Katherine, Guy, Fortune, Katherine moonlights, she's, She's, Angela Fung Organizations: Business, American, Chase, Chase Travel, Sapphire, Chase Sapphire, TSA, FDIC, Chase Dining, American Express, Hong Kong International Airport, New, Kennedy, LaGuardia, Rental Insurance, Avis, Avis , National, Emergency, Transportation, Sapphire Reserve, Reserve, Capital, Venture, Centurion, overpaying, Yorker, Muhlenberg College, University of Edinburgh, Twitter, Finance, Cards, CNN, Forbes, Wall, Dallas Morning News, Newsweek, Nasdaq, MSN, Yahoo, SXSW, Austin American, Statesman, University of Texas, National Taiwan University Locations: DoorDash, airfare, Boston, Austin, Canada, Avis ,, Seattle, Redbird, Los Angeles, Healdsburg , California, New York City, Chicago, Reddit, Dallas , Denver, Dulles, Las Vegas, New York, Hong Kong, Chevron, There's, Slotnick, Scotland, orcas, Antarctica, Japan, New Zealand, South Africa, Taiwan

Signs of a slowing U.S. economy sowed panic among investors on Monday, with a sell-off in markets that began last week turning into a global rout. The moves were a sharp reversal in major stock markets, which for much of the past year have risen to new heights, propelled by optimism about cooling inflation, solid labor markets and the promise of artificial intelligence technology. South Korea’s benchmark Kospi index fell more than 10 percent at one point. Japanese stocks have been on a tear for more than a year, fueled by a weak Japanese yen. Adding to the pressure, foreign investors have started selling off positions in Japanese stocks over the last few weeks.

Persons: ”, Andrew Brenner, Goldman Sachs, Goldman, Jordi Basco Carrera, ’, Basco Carrera, Jitters, Jesper Koll, Koll, John Liu, Melissa Eddy Organizations: Federal, Nasdaq, National Alliance Securities, Equity, Technology, Samsung Electronics, Taiwan Semiconductor Manufacturing Company, Nvidia, Intel, Allianz, Monex, Bank of Japan, Tokyo Stock Exchange Locations: Asia, Europe, Americas, Japan, U.S, Taiwan, Singapore, Australia, Hong Kong, China, Stocks, India, Netherlands, Switzerland, New York, Munich, “, New, Seoul, Berlin

☆ With Smugglers and Front Companies, China Is Skirting American A.I. Bans
▼ + stars: | 2024-08-04 | by ( Ana Swanson | Claire Fu | ) www.nytimes.com time to read: +1 min

In the southern Chinese city of Shenzhen, a mazelike market stretches for a half-mile, packed with stalls selling every type of electronic imaginable. One vendor said he could order the chips for delivery in two weeks. Another said companies came to the market ordering 200 or 300 chips from him at a time. The United States, with some success, has tried to control the export of these chips. technology — part of a global effort to help China circumvent U.S. restrictions amid the countries’ growing military rivalry.

Organizations: Nvidia, U.S ., New York Times Locations: Shenzhen, United States, U.S, Hong Kong, China

☆ China’s slower growth hasn’t dragged down this consumer stock. Why it’s up 90% this year
▼ + stars: | 2024-08-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

"We expect 30 retail store openings this year in China and China market sales to grow 21% YoY in 2024." Raised target Morgan Stanley raised its price target to HK$52, up from HK$45 previously, after Pop Mart's profit alert. "Strong pickup in online channels and Pop Land were the key drivers, while offline sales growth also accelerated (driven by teens% [same-store sales growth])." Pop Land is a theme park that Pop Mart opened near a major city park in Beijing in September 2023. "The company is well-prepared to sustain its high sales growth momentum into 2H24F, in our view (we estimate 2H24F total sales growth of 39% y-y)," the Nomura analysts said.

Persons: Morgan Stanley, Pop Mart, they've, Michael Bloom Organizations: Pop Mart, Pop, Mart, Disney, Hong, Apple, Starbucks, HK, China Renaissance, Nomura, U.S, Jefferies, Comcast, CNBC, NBCUniversal, NBC Sports, NBC Olympics, NBC, Games Locations: Hong Kong, China, Beijing, Pop, Thailand, NBCUniversal, U.S

☆ Taiwan is making a TV show about a Chinese invasion. And it’s hitting close to home
▼ + stars: | 2024-08-04 | by ( Nectar Gan | Eric Cheung | ) edition.cnn.com time to read: +12 min

The 17-minute trailer hit close to home in Taiwan, making headlines in local media and garnering more than a million views on YouTube. But Hsin-mei Cheng, the showrunner of “Zero Day,” worried that her fellow Taiwan citizens have grown “too numb” to the danger of an impending conflict. Hsin-mei Cheng, the showrunner of "Zero Day," says she hopes the show can serve as a wakeup call to the people of Taiwan. Cheng also assembled a team of 10 directors, each responsible for an episode in “Zero Day” that tells an independent story. In “Zero Day,” Chinese infiltration and cognitive warfare takes on many forms – from the lure of money and power to the threat of violence.

Persons: ”, China’s, Xi Jinping, Cheng, “, Mei Cheng, Nancy Pelosi’s, Robert Tsao, Lo Ging, Howard Yu, ” Cheng, Lo, Chapman, Hong Kong’s, –, livestreaming, influencers, Beijing’s, Howard Yu Su Tzu, yun, Lee Yen, China – Organizations: Taipei CNN, China’s People’s Liberation Army, PLA, Communist Party, YouTube, CNN, Presidential, Taiwan’s Ministry of Culture, Netflix, Chinese Communist Party, Taiwan’s Institute for National Defense and Security Research, Kuomintang Locations: Hong Kong, Taipei, Taiwan, dramatize, China, Ukraine, Beijing, Kinmen

Hong Kong/London CNN —Japanese stocks on Monday suffered their biggest daily loss since 1987 as fears about a US economic slowdown sent shock waves through global markets. The Nikkei 225 index of leading stocks in Tokyo lost a staggering 4,451 points, its biggest point drop in history. On the more common, percentage measure, the index closed more than 12% down — according to Reuters, its largest one-day fall since October 1987. He was referring to “Black Monday” in October 1987, when global markets plunged and the Nikkei lost 3,836 points. The Nikkei closed down 5.8% Friday, as traders fretted about the impact of a stronger yen on Japanese companies.

Persons: ” Neil Newman, ”, Stephen Innes, Newman, Mohit Kumar, Taiwan’s Taiex, Kospi, Innes, Tom Kloza, Bitcoin Organizations: London CNN, Reuters, Advisory, CNN, Nikkei, Federal Reserve, Bank of Japan, Management, Trading, Nasdaq, Dow, Jefferies, Traders, greenback, PMI, Intel, Brent, Oil Price Information Service Locations: Hong Kong, London, Tokyo, Japan, South Korea, “, Asia, Europe, South, Shanghai, China, United States

☆ Chinese scientists claim Star Wars-like laser submarines can blast US satellites
▼ + stars: | 2024-08-03 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

Read previewChinese scientists claim that it's possible to destroy satellites — including SpaceX's Starlink system — using lasers mounted on submarines. Chinese researchers envision the solution as flotillas of mass-produced laser subs that could be dispatched to oceans around the world. They would wait for tracking data from other non-submarine platforms to determine when a target satellite is overhead. In addition to destroying satellites, these subs could also blast aircraft or land targets such as radars and oil refineries. Laser subs could also shield China's ballistic missile submarines from detection.

Persons: —, Chris Carlson, Carlson, Michael Peck Organizations: Service, navy's Submarine Academy, Business, China Morning, US Navy, Defense Intelligence Agency, Communications, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: China, Hong, Russia, Ukraine, Forbes

The team has been under a cloud of suspicion since The New York Times reported in April that 23 swimmers tested positive for a banned heart drug before the 2021 Tokyo Games. The issue has also prompted a diplomatic spat between the U.S. on one side and China, the International Olympic Committee (IOC) and the World Anti-Doping Agency (WADA) on the other. "Chinese swimmers are clean and have never feared testing," the spokesperson said. Adam Pretty / Getty ImagesThe impact of testing aside, Chinese swimmers are also worried the situation could affect their once-friendly exchanges with foreign competitors. "No matter how much World Aquatics tried to mess with the Chinese athletes’ mindset before, they still broke the world record!"

Persons: Zhanle, Pan Zhanle, Jonathan Nackstrand, Catherine Ordway, Pan, Adam Pretty, China’s, Ordway, WADA, Witold Banka, Sen, Marsha Blackburn, Erriyon Knighton, commenter, Pan’s, I’m Organizations: Olympics, Paris Olympics, Getty, New York Times, Doping Agency, Paris Games, U.S, International Olympic Committee, NBC News, Aquatics, NBC, International Testing Agency, University of Canberra, FBI, Justice Department, White House, Times, The, ’ Commission, Olympic, Games Locations: HONG KONG, China, AFP, Paris, France, Russia, Sochi, U.S, Australian, Salt Lake City, Utah, United States, Weibo

☆ The market sell-off spills over into a global one
▼ + stars: | 2024-08-02 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Thursday's sell-off spilled over to international markets in a big way. .N225 5D mountain Nikkei sells off The Nikkei 225 , Japan's stock market benchmark, plunged 5.8% — marking its biggest one-day loss since March 2020. The common thread behind these declines seems to be concern that a U.S. economic slowdown would hurt global growth. Elsewhere on Wall Street this morning, Wells Fargo downgraded Morgan Stanley to underweight from equal weight, citing worries around the stock's valuation. "Further, MS doesn't seem to benefit as much from a capital markets recovery as GS, but trades at a significant valuation premium."

Persons: Thursday's, Taiwan's Taiex, Dax, That's, Adam Crisafulli, Jerome Powell, Wells, Morgan Stanley, Mike Mayo Organizations: Dow Jones Industrial, Nikkei, CAC, Intel, Dow Jones, Dow, Federal Locations: U.S, Asia, Europe, That's, Thurs

☆ Japan stocks plunge 5% with Asia markets broadly lower after Wall Street sell-off
▼ + stars: | 2024-08-02 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

An electronic stock board displayed inside the Kabuto One building in Tokyo, Japan, on Thursday, June 27, 2024. Japan's Nikkei 225 nosedived almost 5% on Friday, with most Asia-Pacific markets lower after a sell-off on Wall Street overnight. The Nikkei extended its 2.62% slide on Thursday to lead losses in the region and reach its lowest level since February. Japanese government bond yields fell, with the yield on the benchmark 10-year JGB falling below the 1% mark and hitting it lowest level since June 20. Hong Kong's Hang Seng index futures were at 17,047, lower than the HSI's last close of 17,304.96.

Persons: Marubeni, Hybe, Australia's, Hong Organizations: Japan's Nikkei, Wall, Nikkei, Softbank, Mitsui, Reuters Locations: Tokyo, Japan, Asia, Pacific

☆ Nikkei 225: Japan plans to raise interest rates and investors are spooked
▼ + stars: | 2024-08-02 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The Nikkei 225 sank 4.5% on Friday, extending a global stock rout that started following the release of weak US economic data. The Bank of Japan (BOJ) raised interest rates by 15 basis points to 0.25% on Wednesday, its second hike this year, and announced plans to taper off its policy of bond buying. ”The hike has narrowed the difference in interest rate between the United States and Japan, which pushed the Japanese yen higher against the greenback. Combined with strong corporate earnings and effective corporate governance reforms, the weak yen propelled the Nikkei 225 to all-time highs this year. “From a Japanese equity perspective, the earnings boost from a weak yen is set to diminish,” Citi analysts said on Thursday.

Persons: ”, Ken Cheung, Frank Benzimra, Korea’s, Australia’s Organizations: Hong Kong CNN — Japan’s Nikkei, Nikkei, Bank of Japan, Traders, Mizuho Securities, greenback, Societe Generale, ” Citi, Dow, Nasdaq, Labor Department, “, ” ANZ, Federal Reserve Locations: Hong Kong, United States, Japan, Asia, Shanghai

Ismail Haniyeh, leader of the Palestinian militant group Hama, arrives for the inauguration of the new Iranian President at the parliament in Tehran, on July 30. Tehran: Haniyeh took at least four trips to Tehran – in November, March, May and July. In May, he attended the funerals of Iranian president Ebrahim Raisi and foreign minister Hossein Amir-Abdollahian, who were killed in a helicopter crash. On his final trip to Tehran, which ended with his assassination, he attended the inauguration of the new Iranian president, Masoud Pezeshkian. Doha: As Israel’s war ravaged Gaza, Haniyeh spent the majority of his time in Hamas’ Doha offices.

Persons: Ismail Haniyeh, Hama, Stringer, Ismail Haniyeh’s, Haniyeh, Ali Khamenei, Ebrahim Raisi, Hossein Amir, Abdollahian, Masoud Pezeshkian Organizations: Getty, CNN, Tehran –, Iranian Locations: Tehran, AFP, Gaza, Istanbul, Turkey, Doha, Cairo, Qatar, Egypt

Hong Kong CNN —Heavy rains and floods from Typhoon Gaemi caused at least 30 deaths and left 35 people missing across eight towns in the southern Chinese province of Hunan, state-run news agency Xinhua reported on Thursday, citing local authorities. On Thursday, rescue teams reached eight towns that had been cut off from the outside world since last Sunday, due to destroyed infrastructure and power grids. Typhoon Gaemi initially made landfall in China on the evening of Thursday July 25, with winds approaching 110 kph (70 mph). The storm previously caused torrential flooding in Taiwan, with rainfall in five townships totaling over 1,285mm (50 inches). Footage shows flooding and torrential winds in Nantou, Taiwan on July 25, 2024.

Persons: Gaemi, Typhoon Gaemi, CNN’s Robert Shackelford, Brandon Miller, Taylor Ward, Avery Schmitz Organizations: Hong Kong CNN, Xinhua, country’s Ministry of Emergency Management Locations: Hong Kong, Chinese, Hunan, Zixing City, Xinhua, China, Taiwan, Nantou, Hualien, Philippine

☆ China doping controversy casts a shadow over Olympic swimming
▼ + stars: | 2024-08-01 | by ( Simone Mccarthy | Andrew Mcnicol | ) edition.cnn.com time to read: +8 min

The global sports doping watchdog World Anti-Doping Agency (WADA) accepted the assessment without an appeal. Concern only deepened Tuesday, after WADA acknowledged a separate 2022 case in which two Chinese swimmers tested positive for “trace amounts of a prohibited substance metandienone,” a banned anabolic steroid. “I feel so wronged,” said Zhang, denying that Chinese swimmers engaged in doping. The 2022 case, reported by the Times earlier this week, involves a swimmer on the Chinese roster in Paris, according to the paper. Personally, I believe that seven doping tests in one day might have disrupted our Chinese swimming team,” Gao wrote on Weibo.

Persons: Zhang Yufei, Zhang, ”, WADA, CHINADA –, Travis Tygart, “, it’s, CHINADA, Pan, Jonathan Nackstrand, China’s Pan Zhanle, Gao Min, Qin Haiyang’s, ” Gao, Yu Liang, they’ve Organizations: Hong Kong CNN —, Paris Olympics, Tokyo, China’s, Doping Agency, Tokyo Games, New York Times, ARD, Times, CNN, Getty, Aquatics, Paris Olympic, ’, China national, commentors Locations: Hong Kong, China, United States, Australia, Beijing, Paris, AFP, Tokyo, Weibo, France

☆ ‘I’m really desperate now’: Temu sellers revolt against fines and withheld pay
▼ + stars: | 2024-08-01 | by ( Juliana Liu | ) edition.cnn.com time to read: +6 min

Hundreds of them staged a demonstration this week at an office affiliated with Temu in the southern Chinese city of Guangzhou. They were protesting what they called “unjust” fines levied by the company or withheld payment on goods already sold, among other complaints. Temu operates as an online store, carrying cut-price merchandise from self-employed sellers. Four sellers interviewed by CNN said the fines ranged from one to five times the wholesale price of the product. CNN has seen screenshots of the seller’s Temu account showing a total of just under two million yuan was ineligible for withdrawal.

Persons: Temu, “ I’m, ”, Shein, ” Temu, Abe Yousef, Goldman Sachs, Ivy Yang, “, Peng Organizations: Hong Kong CNN —, Temu, CNN, Super, Shein, Consumers Locations: China, Hong Kong, Guangzhou, Chinese, Thailand, Temu, “, United States, Latin America, East, Southeast Asia

☆ Olympic swimming: Four takeaways from a thrilling night
▼ + stars: | 2024-07-31 | by ( Kyle Feldscher | ) edition.cnn.com time to read: +6 min

Ledecky broke her own Olympic record set three years ago in Tokyo by more than five seconds and finished 10 seconds ahead of France’s Anastasiia Kirpichnikova, whose finish had the home nation fans in full voice. Marchand set an Olympic record in the 200m breaststroke. Maddie Meyer/Getty ImagesHe never looked bothered in the 200-meter breaststroke, setting yet another Olympic record as he cruised to victory. First world record set in the Paris poolThe pool at La Défense Arena has been described as slow by some of the swimmers in Paris. Pan of China reacts after setting a new world record - first swimming world mark of the Paris Games.

Persons: Katie Ledecky, Ledecky, Kirpichnikova, Quinn Rooney, “, I’m, ” Ledecky, Marchand, Léon Marchand, Kristóf Milák, Maddie Meyer, ”, Ueslei Marcelino, Pan Zhanle, Pan, Huske, Sarah Sjöström, Sjöström, Hong Kong’s Siobhan Bernadette Haughey, Sarah Stier, ” Sjöström Organizations: France CNN —, Games, Défense, La Défense, Paris Games, Reuters, La Locations: Nanterres, France, French, Tokyo, France’s, exultation, American, Montreal, Paris, China, Doha, Qatar, Lane, Huske

☆ The chip industry uses as much water as the city of Hong Kong. Now factories are working to be more sustainable.
▼ + stars: | 2024-07-31 | by ( Helen Li | ) www.businessinsider.com time to read: +7 min

According to an S&P Global analysis, the global semiconductor industry consumed as much water in 2021 as the city of Hong Kong. Water consumption for chip fabs and data centers will rise as the demand for chips grows. The chip fabs stored the TCE underground, but tanks sometimes ruptured, leaking the chemical into the local groundwater and soil. Now, chip fabs must work with local governments to meet water management and waste disposal requirements. Several researchers are investigating ways to reduce and recycle water in chip manufacturing.

Persons: —, Prakash Govindan, Steve Proehl, Packard, Govindan, he's, fabs, Paul Westerhoff, TSMC, Jensen Huang, Huang, Anuradha Murthy Agarwal, Agarwal Organizations: Service, Business, Intel, AMD, Philips, Hewlett, Environmental, Agency, Arizona State University, Micron, Nvidia, MIT's Materials Research Laboratory Locations: Hong Kong, Taiwan, American, Santa Clara , California, Valley's Santa Clara County, . Arizona, Colorado, Phoenix, Denver

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