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☆ European businesses in China reach a 'tipping point' on whether to invest more
▼ + stars: | 2024-09-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Edgar Su | ReutersBEIJING — European businesses in China have grown so discouraged with the outlook for operating in the country that Beijing must act if the companies are to invest further, according to the EU Chamber of Commerce in China. "We do believe actually that we are in sort of a tipping point situation. Foreign direct investment into China fell by 29.6% during the January to July period versus a year ago, according to China's Ministry of Commerce. Such changes are part of Beijing's pledges to reduce what it calls the negative list, a collection of industries off-limits to foreign businesses in the country. However, Eskelund said such developments, while encouraging, did not move the needle enough for European businesses, especially when members' optimism on profitability in China for the next two years is at an all-time low.

Persons: Edgar Su, Jens Eskelund, Eskelund Organizations: of, Initiative, Reuters, EU Chamber of Commerce, China's Ministry of Commerce Locations: Beijing, China, Reuters BEIJING, Growth

☆ Huawei's trifold phone gets 2.7 million pre-orders ahead of Apple's iPhone 16 launch
▼ + stars: | 2024-09-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

Huawei is planning to release a three-fold smartphone on Sept. 10, just hours after Apple's scheduled new iPhone launch. BEIJING — Huawei has received more than 2.7 million pre-orders for its trifold smartphone, its website showed on Monday. The Chinese company began pre-orders for its Mate XT midday on Saturday. That was more than two days ahead of Apple's planned iPhone 16 launch early morning Tuesday Beijing time. The company has yet to share a price for the Mate XT.

Organizations: Huawei, Beijing, Apple Locations: BEIJING, Beijing, China

☆ China's CPI climbs by a less-than-expected 0.6% as transport and home goods prices fall
▼ + stars: | 2024-09-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China on Monday reported its consumer price index rose by 0.6% year on year in August, missing expectations as transportation and home goods prices, as well as rents declined. Food prices climbed by 2.8% year on year in August, the first positive print since June 2023, according to Wind Information data. Pork prices surged by 16.1% in August, while vegetable prices climbed by 21.8%. Pork, a food staple in China, has an outsized weighting in the country's consumer price index. Core-CPI, which strips out food and energy prices, climbed by 0.3% in August from a year ago, a slower rise for a second-straight month.

Persons: Wang Yifan Organizations: Nanhua Locations: China, BEIJING — China

☆ JPMorgan downgrades its opinion on China, but still likes these individual stocks
▼ + stars: | 2024-09-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Instead, JPMorgan increased its overweight recommendations on other emerging markets. Even after the change, JPMorgan still holds 18 China stocks in its global emerging markets model portfolio. The JPMorgan analysts said uncertainties about the China economic outlook range from tensions with the U.S. to "lingering deflation pressure." During three periods of escalating U.S.-China trade tensions in 2018 and 2019, the MSCI China index fell each time, according to JPMorgan China Equity Strategist Wendy Liu. As part of its China stock downgrade, JPMorgan added shares of state-owned utility operator CR Gas , while removing shares of PDD, China Construction Bank and Kingdee International.

Persons: Pedro Martins, Chetan Seth, Jake Sullivan, Kamala Harris, Joe Biden's, Harris, Donald Trump, Wendy Liu, ByteDance, — CNBC's Michael Bloom Organizations: JPMorgan, Wednesday, Sunday, Reuters, Nomura's, Nomura, JPMorgan China Equity, CR Gas, China Construction Bank, Kingdee International, Kuaishou Technology, Meituan, Hong Locations: China, U.S, Nomura's Asia, Japan, Beijing, PDD, Hong Kong, Thursday's

☆ China's wealthy are increasingly looking overseas for business investment opportunities
▼ + stars: | 2024-09-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Instead of high-net-worth individuals, C-suite executives in China are increasingly using business jets, said Paul Desgrosseilliers, general manager at ExecuJet Haite General Aviation Services. ExecuJet HaiteBEIJING — China's wealthy are increasingly looking for ways to move capital outside the mainland to pursue business opportunities, rather than just chasing investment returns, according to asset managers and consultants. The company's active overseas clients rose by nearly 63% year on year to 3,244. Overseas assets under management rose nearly 15% to $5.4 billion from a year earlier, while mainland China assets under management fell over 6% to $15.8 billion, according to Noah's quarterly earnings report. "What we are hearing from them is that the fastest growth in terms of interest from Chinese clients [occurred] in the post-Covid [period to] early last year."

Persons: Paul Desgrosseilliers, ExecuJet, there's, Ryota Kadogaki, Grant Pan, Noah Holdings, Noah, Kadogaki, Mu Chen, That's, Pan, ExecuJet Haite Organizations: General Aviation Services, Beijing Daxing, Monolith, Investors, Ministry of Commerce, CNBC, Noah Holdings, Beijing Daxing International Locations: China, Beijing, BEIJING, Japan, Mainland China, Singapore, Hong Kong, Southeast Asia, East, Africa, Asia Pacific

☆ China should focus on fighting deflationary pressure, former central bank governor says
▼ + stars: | 2024-09-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Yi Gang was governor of the People's Bank of China from 2018 to 2023. He is pictured here speaking at the Peterson Institute for International Economics in Washington, DC, US, on Saturday, April 15, 2023. SHANGHAI — China's policymakers need to focus on boosting domestic demand, Yi Gang, former head of the People's Bank of China, said Friday at the Bund Summit in Shanghai. "At this point, proactive fiscal policy and accommodative monetary policy are important," he said. In contrast to high inflation in the U.S. and Europe, China's consumer prices fell in 2023 and have only picked up marginally so far this year as domestic demand remains lackluster.

Persons: Yi Gang, Yi Organizations: People's Bank of, Peterson Institute for International Economics, Bund, Reuters Locations: People's Bank of China, Washington , DC, SHANGHAI, Shanghai, U.S, Europe

☆ China's property woes and U.S. sanctions have hit some cities hard
▼ + stars: | 2024-09-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

BEIJING — China's property struggles and U.S. sanctions have significantly affected some of its cities, even as others benefit from Beijing's tech push, Milken Institute's best performing cities China index showed Tuesday. Since 2015, the index has studied China's large- and mid-sized cities for their economic vibrancy and growth prospects. The index looked at a group of 33 large cities and a group of 217 small cities, then ranked them separately. Historically, Wong pointed out, having control of Zhengzhou, Hefei, and Wuhan have been critical to ensuring control of the country. Correction: This story has been updated to reflect that there are 33 large cities and 217 smaller cities in the index.

Persons: Milken Institute's, Perry Wong, Wong Organizations: CNBC ., U.S, CNBC, Wuhan Locations: HANGZHOU, CHINA, China Vanke, Hangzhou, Zhejiang province, China, BEIJING, Zhejiang, Zhuhai, Guangdong, Hong Kong, Dongguan, The, Shenzhen, Beijing, Zhengzhou, Henan province, Hefei, Wuhan, Anhui, Central China's Hubei

☆ Chinese EV maker Zeekr says its new battery can charge faster than that of a Tesla
▼ + stars: | 2024-08-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Chinese electric car brand Zeekr announced new batteries on Tuesday, which it says boast the fastest charge in the world. Zeekr said that the new battery could achieve the same charge performance even in negative 10 degree Celsius (14 degrees Fahrenheit) weather in about 30 minutes. Comparatively, Elon Musk's Tesla says its supercharger allow the company's vehicles to charge up to 200 miles in 15 minutes. Chinese automaker Nio has also offered the alternative of a three-minute battery swap. The subscription service automatically changes out the battery of designated car models with a charged one at specific swap stations.

Persons: Zeekr, Elon Musk's Tesla, Nio Organizations: New York Stock Exchange, Technology Holding Locations: BEIJING, U.S

☆ Inside the tax battles Tim Walz fought — and won — in Minnesota
▼ + stars: | 2024-08-13 | by ( Brian Schwartz | ) www.cnbc.com time to read: +6 min

Kevin Mohatt | ReutersSix years before Tim Walz was tapped to be Vice President Kamala Harris' running mate, he was busy running for governor of Minnesota. Eric Gibson, then president of Ultra Machining Company, recalled asking Walz whether the Democrat believed that high corporate and state taxes hurt workers. Minnesota currently taxes corporate income at 9.8%. The nonpartisan Tax Foundation says that's the highest corporate tax rate of any state in the nation. Minnesota Governor Tim Walz speaks next to Wisconsin Governor Tony Evers at Yellowjacket Union, at University of Wisconsin-Superior, in Superior, Wisconsin, U.S. March 2, 2022.

Persons: Kamala Harris, Tim Walz, Kevin Mohatt, Walz, Eric Gibson, Gibson, Geoff Baker, Baker, Douglas Loon, Kamala, Andrew Harnik, wasn't, Harris, Tony Evers, Evelyn Hockstein, Loon, Minn, Bill George, George said Walz, George Organizations: Democratic, Minnesota, Chippewa, Reuters, Ultra, Democrat, CNBC, McFarland Truck Lines, Foundation, Democrats, Senate, Minnesota Chamber of Commerce, Fortune, UnitedHealth, U.S, Gov, Getty, Minnesotans, Tax, Yellowjacket Union, University of Wisconsin, Mayo Clinic Locations: Eau Claire , Wisconsin, U.S, Minnesota, Gull Lake, McFarland Truck Lines . Minnesota, Gull, Glendale , Arizona, Wisconsin, Superior, Superior , Wisconsin, St, Paul, Rochester, Minn

☆ China stocks escaped much of the latest sell-off. Signals for whether to buy
▼ + stars: | 2024-08-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

The latest global market volatility has reinforced China's status as a distinct market, even if its growth has slowed recently. While U.S. tech stocks plunged and Japanese stocks swung wildly in a historic two days of price action , Chinese stocks suffered less . The investors remained net buyers of Chinese stocks for the third quarter so far as of Aug. 6, the data showed. Finally, the low correlation of the China stock market with the U.S. stock market could provide investors with diversification benefits." Chinese stocks, especially those traded on the mainland, have historically been less correlated to global market moves due to Beijing's capital controls and other restrictions.

Persons: Matt Wacher, William Yuen, Invesco, That's, Steven Sun, Paul Christopher, Morningstar's Wacher, it's, Wacher Organizations: Nasdaq, Nikkei, Morningstar Investment Management, U.S, HSBC, Technology, Shanghai —, Bank of, Federal Reserve, Treasury, HSBC Qianhai Securities, National Bureau, Statistics, Wells, Wells Fargo Investment Institute, Index Locations: Asia, U.S, Shanghai, China, Pacific, EPFR, Hong Kong, Bank of China, Wells Fargo

☆ More than half of new cars sold in China are now electric or hybrid
▼ + stars: | 2024-08-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — For the first time in China, new energy vehicles have outsold traditional fuel-powered passenger cars on a monthly basis, according to China Passenger Car Association data for July. The category accounted for 51% of new passenger cars sold in China last month, according to a release late Thursday. That's up from a penetration rate of 36% exactly a year ago, and a dip below one-third in January, according to CNBC calculations of passenger car association data. The latest report showed that battery-only cars outsold hybrid ones in July — for a battery-only penetration rate of 28%. However, monthly sales and delivery figures from BYD , Li Auto and other car companies indicated consumers in China increasingly preferred hybrid-powered vehicles.

Persons: Li Organizations: China Passenger Car Association, CNBC, Li Auto Locations: BEIJING, China

☆ Container explodes on cargo ship at China's key Ningbo port
▼ + stars: | 2024-08-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

An aerial photo is showing containers at Beilun Port in Ningbo, Zhejiang province, China, on April 11, 2024. BEIJING — A hazardous goods container exploded Friday on a cargo ship in China's high-traffic Ningbo port, Taiwanese vessel owner Yang Ming Marine Transport Corp. told CNBC in a statement. State-owned port operator Ningbo-Zhoushan said the ship was docked at the Beilun 2 container terminal, according to a post on Chinese social media. The port operator and Yang Ming both said the cause of the incident was not yet clear. Ningbo-Zhoushan is China's second-highest traffic port, located in eastern China's Zhejiang province.

Persons: Yang, Zhoushan, Yang Ming, Ruxandra Iordache Organizations: Yang Ming Marine Transport Corp, CNBC, YM, Shanghai Locations: Port, Ningbo, Zhejiang province, China, BEIJING, Liberia, Zhoushan, China's Zhejiang, Shanghai, Singapore

☆ An inside look at America’s aging ballistic missile arsenal
▼ + stars: | 2024-08-09 | by ( Oren Liebermann | ) edition.cnn.com time to read: +6 min

Underneath the blast door stands one of the most powerful weapons in the US inventory, a Minuteman III intercontinental ballistic missile. But unlike the other two parts of the triad – strategic bombers and ballistic missile submarines – the ICBM launch facilities are fixed positions. Last year, the commander of US Strategic Command told Congress that China has more land-based ballistic missile launchers than the US. Russia has been carrying out military exercises involving its tactical nuclear weapons, as President Vladimir Putin has repeatedly threatened to use nuclear weapons since invading Ukraine. That complexity, Schlabach argued, drives the need for modernizing the ballistic missile fleet.

Persons: ”, James Schlabach, Evelyn McCoy, Joseph Cambio, Nunn, McCurdy, William LaPlante, Vladimir Putin, Kim Jong Un, Antony Blinken, Schlabach, ” Schlabach Organizations: North Dakota CNN, Minuteman III, Minot Air Force Base, Minuteman, Air Force, 91st Missile, CNN, ”, Cuban Missile Crisis, The Air Force, Sentinel missile, Defense, Sentinel, Strategic Command, Congress, Soviet Union Locations: Minot, North Dakota, Dakota, it’s, Russia, China, Ukraine, Pyongyang

☆ China's consumer prices pick up more than expected in July, up by 0.5%
▼ + stars: | 2024-08-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's consumer prices rose by a more-than-expected 0.5% in July from a year ago, boosted by a surge in pork prices, according to data from the National Bureau of Statistics released Friday. Analysts polled by Reuters had expected a slight pickup in the consumer price index to 0.3% in July from a year ago, versus 0.2% in June. Prices of pork, a widely consumed food staple in China, surged by 20.4% year-on-year in July. Pork prices play a significant role in China's consumer price index, but can be prone to large swings due to disease or other factors affecting production. Core CPI, which strips out food and energy prices, rose by 0.4% year-on-year in July.

Persons: That's Organizations: National Bureau of Statistics, Reuters, CPI Locations: Beijing, BEIJING, China

☆ Consumer giants from Starbucks to General Mills have one big sales problem: China
▼ + stars: | 2024-08-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — A theme emerging in the latest slew of U.S. companies' earnings reports is a drag from the China market. "Consumer sentiment in China is quite weak," McDonald's chairman, CEO and director Christopher Kempczinski, said of the quarter ended June 30. Apple said Greater China sales fell by 6.5% year-on-year in the quarter ended June 29. Procter and Gamble said China sales for the quarter ending late June fell by 9%. The only public disclosures regarding Peet's China business described it as "strong double-digit organic sales growth" in the first half of the year.

Persons: —, Christopher Kempczinski, McDonald's, Lei Meng, Apple, Johnson, that's, General Mills, Kofi Bruce, Mills, Andre Schulten, Procter, Gamble, Schulten, Marriott's, Domino's, DPC Dash, There's, James Quincey, Quincey, We've, Laxman Narasimhan, Luckin Organizations: Nurphoto, Getty, BEIJING, U.S, Nationwide, UBS Securities, General, Procter, Marriott, Asia Pacific, Starbucks Locations: Yichang, Hubei province, China, U.S, Canada, Greater China, Southeast Asia, Japan, South Korea, Asia, Peet's

☆ MS-13 Killed Her Sister. That Was Just the Beginning of Her Pain.
▼ + stars: | 2024-08-05 | by ( Maia Coleman | ) www.nytimes.com time to read: +1 min

On Sept. 14, 2016, the body of Kayla Cuevas was found, bludgeoned to death by members of MS-13 and left beside a house at 6 Ray Court in Brentwood. Two years later exactly, her mother, Evelyn Rodriguez, who had become a renowned anti-gang activist, was run down on Ray Court by the homeowner’s daughter. The daughter, Annmarie Drago, had grown weary of unceasing memorials near the property, prosecutors said. The prosecution of Ms. Drago followed a byzantine nearly six-year path of conviction, reversal and retrial as attention seeped away and Ms. Rodriguez’s family fell to pieces. For Kelsey Cuevas, 26, Kayla’s sister and the sole survivor of a tight triad of women, it has been a torturous ordeal with an unjust ending.

Persons: transfixed, Kayla Cuevas, bludgeoned, Evelyn Rodriguez, Ray, Annmarie Drago, Ms, Drago, Rodriguez’s, Kelsey Cuevas Organizations: Ray, Brentwood . Locations: Brentwood, Suffolk

☆ 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

☆ Li Auto's July deliveries hit a record as Chinese EV consumers prefer hybrid options
▼ + stars: | 2024-08-02 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

A newly released Li Auto L6 new energy vehicle is displayed at a store in Shanghai, China, on April 19, 2024. BEIJING — Chinese new energy vehicle company Li Auto announced Thursday it delivered a record number of cars in July, boosted by sales of its new, lower-cost Li L6 SUV. The new model and most of Li Auto's cars come with a fuel tank for extending the battery's driving range. The automaker said its Li L6 that launched in April has seen monthly deliveries of more than 20,000. The China Passenger Car Association said Tesla China sold 59,261 cars in June.

Persons: Li, Li Auto, Tesla Organizations: Auto, Li Auto, Li, U.S, China Passenger Car Association, Tesla Locations: Shanghai, China, BEIJING, Tesla China

His comments rattled health care providers, who might advise a pregnant woman seeking an abortion to travel out of state, and abortion funds that help arrange and fund such travel. Stefan Jeremiah / AP fileThe plaintiffs, who include the Yellowhammer Fund, an abortion fund, and West Alabama Women’s Center, now known as WAWC Health Care, along with other health care providers, have some reason for optimism. Although Marshall has not brought any charges, abortion-rights advocates say his remarks have had a chilling effect on abortion funds and health care providers. More than a decade ago, an abortion fund supported her through ending a pregnancy. Evelyn Hockstein / ReutersWAWC Healthcare, another plaintiff in the case, which is being represented by the ACLU, used to offer abortions, but has remained open to provide prenatal care and other reproductive health care, such as wellness exams.

Persons: Roe, Wade, Steve Marshall, Marshall, “, Marshall’s, Steve Marshall's, Stefan Jeremiah, Myron Thompson, ”, Jamila Johnson, Kelsea McLain, ” McLain, Evelyn Hockstein, Robin Marty, She’s, ” Marty Organizations: U.S, Supreme, Republican, Alabama, Yellowhammer Fund, West Alabama Women’s Center, Middle, Middle District of, Yellowhammer, NBC News, Medical, WAWC Healthcare, Reuters WAWC Healthcare, ACLU Locations: Alabama, State, U.S, Middle District, Middle District of Alabama, California, Idaho, Texas, Reform, Ala

Jade Gao | Afp | Getty ImagesBEIJING — China is not planning additional stimulus for the second half of the year, according to officials from the economic planning agency and finance ministry. Those official figures have raised concerns about whether China can achieve its full-year target of around 5% growth. China will put "promoting consumption in a more prominent role," Yuan Da, deputy secretary-general of the National Development and Reform Commission, told reporters Thursday in Mandarin, translated by CNBC. He reiterated that authorities would work for the "healthy" development of real estate and ensuring the delivery of pre-sold apartments. For example, Lu'an City in Anhui province announced Thursday it was issuing 1.5 million yuan in coupons for discounts on eating out at restaurants, 3 million yuan for buying home goods and 3 million yuan for car purchases.

Persons: Jade Gao, Zhao Chenxin, Lin Zechang, Zhao, Yuan Da, Yuan Organizations: Central Business District, Afp, Getty, National Development, Reform Commission, CNBC, Ministry of Finance Locations: Beijing, BEIJING, China, Lu'an City, Anhui

Best No Exam Life Insurance of 2024Get Life Insurance Quotes Compare affordable life insurance options with Policygenius. Compare the Top No Medical Exam Life Insurance PlansNo medical exam life insurance is a popular category of the best life insurance and is particularly good for people seeking insurance later in life, forfeiting death benefit amounts and paying higher premiums to qualify. Best no exam life insurance for seniorsAARP Life InsuranceAARP Life Insurance caters to senior clients for insurance and many other financial products. Best no exam life insurance for waiting periodsAAA Life InsuranceAAA Life Insurance offers immediate death benefits for qualified applicants between 18 and 75. Best No Medical Exam Life Insurance FAQsDo life insurance companies use my medical history with a no medical exam policy?

Persons: it's, Lina Roby, LIA, MLO Lina Roby, Evelyn, Read Organizations: AARP, Insurance, USAA, Prudential Life, Prudential Life Insurance, Mutual, Omaha Life Insurance Mutual, Omaha Life Insurance, Life Insurance AAA Life Insurance, AAA, Better Business, Prudential, Finance, Personal Finance Locations: Montana and New York, Montana, Omaha, New York, Omaha's, New York State

☆ With a NATO war and Ukraine's knack for shooting down planes in mind, Russia is holding back its airpower and most advanced jets
▼ + stars: | 2024-07-31 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +13 min

Read previewRussia has kept much of its airpower and some of its most advanced aircraft out of the war in Ukraine. But Baum and other air warfare experts have warned Russia's air force should not be underestimated and cautioned that NATO should be ready. AdvertisementRussia's air force is weaker than NATO's airpower, but Russia's war in Ukraine shows it can still cause a lot of damage. Russia's air force has suffered high attrition rates from Ukraine's ground-based air defenses when operating in the country. Related storiesHe said that Russia "has a lot of trouble replacing lost advanced aircraft," only making a few a year.

Persons: —, John Baum, Su, Andrew Curtis, Curtis, Michael Clarke, Christopher Cavoli, it's, Clarke, Evelyn Hockstein, Baum, Peter Layton, Layton, Volodymyr Zelenskyy, Jens Büttner, Russian Sukhoi Su, Nicola Marfisi, Russia's, There's, Sukhoi Su, Aleksey Nikolskyi, REUTERS George Barros, Jake Epstein, Gustav Gressel, Tim Robinson, Russia's Su, Robinson, Mads Claus Rasmussen, Ritzau Scanpix Organizations: Service, NATO, Mitchell Institute, US Air Force, Business, UK Ministry of Defense, Russian Air Force, Royal Air Force, REUTERS, Ukraine, Griffith Asia Institute, Royal Australian Air Force, Russian, Getty Images Air, Getty Images, it's, Sukhoi, Sputnik, European Council, Foreign Relations, UK's Royal Aeronautical Society, Getty Locations: Russia, Ukraine, Europe, Washington, NATO, Russian Sukhoi, Ukrainian, Moscow, Kremlin, AFP

BYD launched the BYD Seal in Europe at the IAA auto show in Munich, Germany. BEIJING — Uber and BYD announced Wednesday that drivers on the ride-hailing platform can get pricing and financing deals for the Chinese company's electric cars, starting in Europe and Latin America. The two companies will also develop "autonomous-capable vehicles" for Uber's platform, according to a press release. The multi-year strategic partnership, which the companies said could bring 100,000 BYD cars to Uber, comes despite the EU following the U.S. this year in raising tariffs on imports of Chinese-made electric cars. The company surpassed Tesla in total vehicle production for two straight years and has ramped up overseas expansion, including investments in factories abroad.

Persons: BYD, BEIJING — Uber, Uber, Dara Khosrowshahi Organizations: U.S, Tesla Locations: Europe, Munich, Germany, BEIJING, Latin America, Shenzhen

Top Military Banks of 2024Compare the Best Military Banks and Credit UnionsThe best military banks and credit unions offer benefits to military members and their families. Competitive Rates and Low FeesThe best military credit unions and banks, just like the best credit unions and banks for civilians, offer great rates and low fees. The Best Military Banks and Credit Unions FAQsWhat advantages do military banks and credit unions offer over civilian banks? Military banks and credit unions provide services that address the challenges military members experience. For our guide we looked at military banks, military credit unions, and financial institutions that aren't specifically for the military but have products geared toward military members.

Persons: you'll, USAA, You'll, Chase, It's, Chase isn't, We've, JP Morgan Chase, Jeffrey Epstein's, Banks, Laura Grace Tarpley, Penny Hoarder, Read, Pulliam, Kit Pulliam, They’ve, Kit, Evelyn Organizations: Bank, Credit Union Military, Banks, Credit, Service, Department of Defense, Service Credit Union, Service Credit, American Consumer, Navy Federal Credit Union, Federal Credit Union, Pentagon Federal Credit Union, DC, Security Service Federal Credit Union, Security, Security Service, UT, Stripes, Chase Bank Start, Chase Bank, Chase, Military, Apple, USAA Bank, Navy, PLUS, Navy Federal Free, Federal, Visa, Pentagon Federal Credit, Cross, . Security, Air Force, Army, Coast Guard, Marines, National Guard, Survivor, Credit Unions, Better, U.S . Virgin, SEC, Futures, Banking, Financial, Chevron, Business, Finance, National, Real, Business Insider, Tax, Vanderbilt University, Personal Finance Locations: United States, New Hampshire , North Dakota , Massachusetts, Germany, Europe, NY, Colorado , Maryland , New York, Texas, California , Florida, Georgia, Hawaii , Maryland , Nebraska , New Jersey, New Mexico , New York, North Carolina , Pennsylvania, Virginia, Guam , Puerto Rico, Japan, Colorado , Texas, Utah, Alaska, Hawaii, reimbursements, of New Hampshire, Massachusetts, England, Luxembourg, USAA, North America, Africa, Asia, Canada, States, Louisiana , New Mexico , Oklahoma, Chevron

☆ Tencent Cloud downplays AI hype when it comes to making games
▼ + stars: | 2024-07-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Tencent Games was one of the exhibitors at ChinaJoy in Shanghai on July 26, 2024. BEIJING — When it comes to gaming, the use of ChatGPT-like generative artificial intelligence is still in an exploratory phase, according to Liang Chen, general manager of Tencent Cloud's internet industry department. Parent company Tencent is one of the world's largest gaming companies and owns U.S.-based Riot Games, home of popular titles such as League of Legends and Valorant. Chen said that AI has long been used by gaming companies for pattern recognition and other functions, but effective use of generative AI comes with high costs. OpenAI's ChatGPT chatbot and similar technologies have enabled AI to better understand and generate content in a human-like way.

Persons: Liang Chen, Tencent, Chen, OpenAI's ChatGPT Organizations: Tencent, Games, of, CNBC Locations: ChinaJoy, Shanghai, BEIJING

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