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☆ Kamala Harris has supported affordable housing in the past. This refloated policy might benefit renters
▼ + stars: | 2024-07-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

US Vice President Kamala Harris speaks on the South Lawn of the White House in Washington, DC, US, on Monday, July 22, 2024. The California Homeowner Bill of Rights became law on January 1, 2013. 'There's potential for a lot of good'The latest housing policies the Biden Administration has rolled out generally aim at increasing the supply of affordable housing and lowering costs for buyers and renters. Harris has been involved in Biden's housing policy-making, and it's likely that her campaign will carry on similar blueprints for housing, experts say. "Generally speaking, it does seem like affordable housing, zoning has been something that has been a talking point of hers for a while now," said Jacob Channel, a senior economist at LendingTree.

Persons: Kamala Harris, Ting Shen, Harris, Biden, Jacob Channel Organizations: White, Bloomberg, Getty, Treasury, PRO, U.S . Department of Housing, Urban, HUD, Harvard University Joint Center for Housing Studies, Biden Administration Locations: Washington , DC, California, U.S, America

☆ What to know about airline refunds, delays as global IT outage causes 'mass chaos,' expert says
▼ + stars: | 2024-07-19 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Airlines around the world experienced disruption on an unprecedented scale after a widespread global computer outage grounded planes and created chaos at airports. Ting Shen/Bloomberg via Getty ImagesMajor airlines like United, Delta and American Airlines grounded flights Friday morning amid a global IT outage impacting their operations, triggering delays for travelers. More from Personal Finance:Global tech outage hits financial services companies, including Charles SchwabRent a car for a road trip, or drive your own? Expedia, for example, said on social media Friday morning it was "experiencing high call volume and long wait times due to a global IT outage. The United Airlines terminal on July 19, 2024 as a global technology outage affected LAX airport in Los Angeles.

Persons: Ting Shen, Eric Napoli, Napoli, There's, John Breyault, Charles Schwab, Taylor, Biden, Breyault, Sara Rathner, Myung J, Chun Organizations: Delta Airlines, Ronald Reagan National Airport, Airlines, Bloomberg, Getty, American Airlines, U.S . Department of Transportation, National Consumers League, Finance, Global, United Airlines, Los Angeles Times, Transportation Department, Microsoft Locations: Arlington , Virginia, Delta, Los Angeles

☆ Lime CEO celebrates Pride
▼ + stars: | 2024-06-05 | 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 EmailLime CEO celebrates PrideLime CEO Wayne Ting says allyship is needed during Pride and every day.

Persons: Wayne Ting, allyship Organizations: Pride

☆ A 12-Year-Old Wins Astonishing Spell-Off at Scripps National Spelling Bee
▼ + stars: | 2024-05-30 | by ( Aimee Ortiz | ) www.nytimes.com time to read: +3 min

PinnedTing Shen for The New York TimesTing Shen for The New York TimesCredit... Ting Shen for The New York TimesBruhat Soma held his trophy high after winning the second-ever spell-off at the Scripps Bee. The Scripps National Spelling Bee on Thursday came down to its second-ever spell-off, a fast-and-furious tiebreaking round that rewards speed as much as accuracy. Image Credit... Ting Shen for The New York TimesThe next competitor, Aditi Muthukumar, was asked to spell Lillooet, a Salishan people of the Fraser River valley in British Columbia. Immediately after Aditi came Bruhat, the night’s eventual champion, who correctly spelled “Okvik,” from an Alaskan geographical name. Image Credit... Ting Shen for The New York TimesFaizan, who is from the Dallas area, came in second place after spelling 20 words correctly in the spell-off.

Persons: Ting Shen, The New York Times Ting Shen, Soma, Faizan Zaki, Bruhat, Rishabh Saha, “, Rishabh, The New York Times Shrey Parikh, ”, Ananya Prassanna, YY Liang, Kirsten Santos, “ Jumano, Aditi Muthukumar, Aditi, “ Okvik, The New York Times Faizan Organizations: The New York Times, The New York Times Credit, Scripps Bee, Scripps, Spelling, Texas, Bee, Lone Star State, Texans Locations: Tampa, Fla, —, Philippines, Southwest, South Plains, Lillooet, Fraser, British Columbia, Texas, Dallas, United States, spellers, California, New York

☆ China's sweeping measures to prop up the property sector will need time to show results
▼ + stars: | 2024-05-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

A real estate construction site in Wanxiang City, Huai 'an City, East China's Jiangsu province, May 17, 2024. Future Publishing | Future Publishing | Getty ImagesBEIJING — China's sweeping moves on Friday to increase support for real estate will take time to show results, analysts said. Despite the news, S&P is still sticking to its base case from earlier in the month that China's property market is likely still "searching for a bottom," Edward Chan, director, corporate ratings, said during the firm's webinar on Monday. But he pointed out that for real estate to see significant stabilization, homebuyers' demand and confidence will need to improve after a market downturn of nearly three years. "We believe Beijing is headed in the right direction with regard to ending the epic housing crisis," Nomura's Chief China Economist Ting Lu said in a report Monday.

Persons: Huai, Edward Chan, Ting, Nomura, Goldman Sachs, Chief China Economist Hui Shan, Ting Lu, P's Chan Organizations: Future Publishing, Getty, BEIJING, Chief China Economist, China Locations: Wanxiang City, City, East China's Jiangsu, Hong Kong, Beijing, Ting Lu, China

☆ China is trying to end its ‘epic’ property crisis. The hard work is just beginning
▼ + stars: | 2024-05-21 | by ( Laura He | ) edition.cnn.com time to read: +7 min

“The policymakers recognize the urgency to prevent an outright property crisis,” said Zhaopeng Xing, senior China strategist at ANZ Research. According to Goldman Sachs, the total value of unsold homes, unfinished projects and unused land in China is about 30 trillion yuan ($4.1 trillion). On Friday, Tao Ling, deputy governor of the PBOC, said the relending program could eventually underpin 500 billion yuan ($69 billion) worth of bank loans to support the buying. The Housing Ministry said Friday that local governments can instruct local state-owned enterprises to help purchase some unsold homes from developers. Just the beginningAddressing the oversupply of unsold homes is only the first step, experts say.

Persons: ”, Zhaopeng Xing, Goldman Sachs, it’s, Tao Ling, Ting Lu, Nomura, Helen Qiao, It’s, Tao, ” Jing Liu, Taylor Wang, Xing, Goldman, Donald Trump, Michelle Lam, Wei Yao, Société Générale Organizations: Hong Kong CNN —, ANZ Research, Goldman, People’s Bank of China, Greater China, Bank of America, Housing Ministry, HSBC, European Union Locations: China, Hong Kong, Hong Kong CNN — Beijing, Beijing, Greater, Société, Japan

☆ Opinion: Right now, I’d rather raise my child in Taiwan than America
▼ + stars: | 2024-04-22 | by ( Opinion Clarissa Wei | ) edition.cnn.com time to read: +10 min

My dad still remembers the anxiety that engulfed the island when the United States cut off diplomatic recognition of Taiwan in favor of the People’s Republic of China in 1979. My parents considered America a safe haven and wanted me to grow up with all its comforts. Of course, comparing the United States and Taiwan this way without acknowledging the nuanced socio-political contexts can be misleading. Clarissa WeiThe biggest shift, then, has been how the people of Taiwan perceive the United States. The United States, on the flip side, is the 131st.

Persons: Clarissa Wei Editor’s, Clarissa Wei, “, ”, Annabelle Chih, there’s, Tyrone Siu, Donald Trump, Joe Biden, “ Wei, Ting Yen, I’m, nodded, Billy H.C, Kwok, It’s, Republican —, Xi Jinping, “ Trump Organizations: Taipei CNN, CNN, America, Metro, Trump, Taiwan, Franklin & Marshall College, 131st, San Francisco Bay Area, China’s Communist Party, Republican Locations: Taiwanese American, Taipei, Taiwan, China, United States, People’s Republic of China, America, Los Angeles, Taiwanese, Kaohsiung, San Francisco Bay

☆ Taiwan to discuss new funding with U.S. as Chinese warplanes get close to island
▼ + stars: | 2024-04-21 | by ( ) www.cnbc.com time to read: +3 min

The United States is Taiwan's most important international supporter and arms supplier despite the absence of formal diplomatic ties. Democratically governed Taiwan has faced increased military pressure from China, which views the island as its own territory. Taiwan has previously reported Chinese military aircraft getting close to but not entering the contiguous zone. On Saturday, Taiwan's defence ministry said China had again carried out "joint combat readiness patrols" with Chinese warships and warplanes around Taiwan. China's defence ministry did not answer calls seeking comment outside of office hours on Sunday.

Persons: Ceng Shou Yi, Wang Ting Organizations: Getty, Taipei, U.S . House, Democratic Progressive Party Locations: China, Pingtung county, Taiwan, Taipei, Japan, Canada, India, Beijing, United States, Ukraine, Israel, U.S, Russian, Taiwan Strait, Taiwan's

☆ China kicks off the year on strong note as retail, industrial data tops expectations
▼ + stars: | 2024-03-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Retail sales rose 5.5%, better than the 5.2% increase forecast in a Reuters poll, while industrial production climbed 7%, compared with estimates of 5% growth. Investment into real estate fell by 9% in the first two months of the year from a year ago. National Bureau of Statistics Spokesperson Liu Aihua said that real estate remains in a period of "adjustment," according to a CNBC translation of his statement in Mandarin. New loans in February missed expectations and fell from the prior month, "even after adjusting for seasonality," Goldman Sachs analysts said in a report Friday. Chinese authorities did not reveal significant new support for the massive real estate sector during an annual parliamentary meeting that ended last week.

Persons: Liu Aihua, Liu, Ting Lu, Goldman Sachs, Pan Gongsheng, Goldman Organizations: Pudong New, Investment, National Bureau of, CNBC, China, People's Bank of China, Reuters Locations: Dongyu, Qiantan, Pudong, Pudong New Area, Shanghai, China, BEIJING, Real, Beijing

☆ Tax evasion by millionaires and billionaires tops $150 billion a year, says IRS chief
▼ + stars: | 2024-02-22 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

The IRS, with billion of dollars in new funding from Congress, has launched a sweeping crackdown on wealthy taxpayers, partnerships and large companies. The Inflation Reduction Act gave the IRS an $80 billion infusion, yet congressional Republicans won a deal last year to take $20 billion of the funding back. The Treasury Department said last week it estimates greater IRS enforcement to result in an additional $561 billion in tax revenue between 2024 and 2034 — a higher projection than it had initially stated. The IRS is touting its early success with a program to collect unpaid taxes from millionaires. So far, the IRS has collected more than $480 billion from the group, "and we are still going," Werfel said.

Persons: Danny Werfel, Werfel, Ting Shen Organizations: Internal Revenue Service, IRS, CNBC, Congress, Republicans, Treasury Department, Bloomberg, Getty Locations: Washington , DC

☆ Myanmar military conscription law sparks panic and fear as youth prepare to flee
▼ + stars: | 2024-02-22 | by ( Helen Regan | Angus Watson | ) edition.cnn.com time to read: +14 min

It’s a terrifying prospect that could become a reality for Anna and millions of her peers across Myanmar after the military junta activated a mandatory conscription law for all young men and women. “While wounded and increasingly desperate, the Myanmar military junta remains extremely dangerous,” Tom Andrews, United Nations Special Rapporteur for human rights in Myanmar, said in a statement. “People know for sure that no matter what is written in the conscription law, they will have to go to the front lines. “In Myanmar, young people are not safe anymore,” said Maung Nyein, who also requested to use a pseudonym for safety reasons. “Our villagers won’t join the military forces or leave the country, instead we will join our resistance forces.

Persons: Anna, ”, “, ” Tom Andrews, — “, Aung, —, Ting Aung, Zaw Min Tun, Young, Kyaw Naing, Sen, Min Aung Hlaing, Kyaw, doesn’t, ” Anna, he’s, he’ll, Khin Ohmar, Stringer, Maung, Maung Nyein, terrifies, Ko, Maung Aye, he’d Organizations: CNN, Thai Embassy, Getty, Analysts, United Nations, People’s Defense Forces, National Unity Government, United, CNN Defense, Armed Forces, Reuters, Facebook, Foreign Ministry, Myanmar, Mandalay People's Defense Forces, Immigration, International Labour Locations: Myanmar, Myanmar’s, Yangon, AFP, United States, Naypyidaw, Thailand, Rakhine, Mandalay, Shan State, “, Shwebo, Sagaing

☆ Why do people keep uninsured money in banks?
▼ + stars: | 2024-02-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Somehow, the same issue plaguing last year’s failed banks is back in focus at the latest bank in crisis: massive loads of uninsured deposits. To be sure, the risk isn’t anywhere close to that of the banks that failed last year: About 94% of domestic deposits at Silicon Valley Bank were uninsured and 90% of Signature Bank’s deposits were uninsured, according to the Federal Reserve. The money is guaranteed by the Federal Deposit Insurance Corporation, which is funded by fees paid by major US banks. About 40% of all money in the US, or $8 trillion, sitting in banks is uninsured, said Lawrence White, a professor at New York University’s Stern School of Business. “It also risks violating the FDIC’s statutory requirement to resolve failed banks and protect insured depositors in the least expensive way possible.”Sometimes, he said, rescuing those uninsured depositors may be the cheapest way to protect insured depositors at banks.

Persons: NYCB, Brian Snyder, James Lee, David Wessel, Lawrence White, University’s, Banks, Ting Shen, ”, Kori Suzuki, JPMorgan Chase, Michael Ohlrogge, Maxine Waters, Elizabeth Warren, “ Organizations: New, New York CNN, New York Community Bancorp, Investors, Silicon Valley Bank, Federal Reserve, Bank, Xinhua, Federal Deposit Insurance Corporation, FDIC, Reuters, Brookings Institution, International Monetary Fund, University’s Stern School of Business, US Treasury, Bloomberg, Getty, Securities and Exchange Commission, Valley Bank, Signature Bank, JPMorgan, Bank of America, Citigroup, First Republic Bank, New York University’s School of Law, Financial Services, Banking Committee, CBS, Bank Coalition of America Locations: New York, Silicon, United States, New, ”, Washington , DC, San Francisco , California, Sen

☆ Taiwan's political disrupter could be kingmaker in a split parliament. Here's why it matters
▼ + stars: | 2024-01-26 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

Taiwan People's Party (TPP) presidential candidate Ko Wen-je speaks during an interview in New Taipei City on December 12, 2023. He urged his disappointed young supporters, some of them crying, not to give up, and framed himself as a one-man social movement crusading for political change. Since this social movement has not fully materialized, let's keep working hard," the former Taipei City Mayor told supporters in Mandarin. That kind of populist messaging appeals to people who feel like Taiwan's current economic and political system is not benefiting them. Taiwan's young and restlessIn any case, Taiwan's two major parties now face a battle to cater to younger voters that could come at the expense of older votes or a focus on broader strategic interests.

Persons: Ko Wen, Cheng, we'll, Ko, let's, Wei, Ting Yen, Sara Newland, Taiwan's, Newland, Lai Ching, Taiwan People's Party —, —, Yuan, Beijing's, Tsai Ing, Annice Lyn, Xi Jinping, Lily, Hwa CHENG, HWA CHENG, Ho Organizations: Taiwan People's Party, AFP, Getty, TAIPEI, Taipei City Mayor, Democratic Progressive Party, Kuomintang, Franklin, Marshall College, CNBC, Sara Newland Smith, Ko's, Taipei, KMT, Smith College, National Taiwan University, Democratic, Chinese Communist Party, HWA, Afp, Sunflower Movement Locations: Taiwan, New Taipei City, China, Taipei, Xinzhuang, AFP

☆ 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

Washington CNN —The United Auto Workers union on Wednesday endorsed President Joe Biden, a long-awaited announcement that is an important pickup for the president. Biden won the endorsement of the UAW in the 2020 campaign, even though many rank-and-file members supported Trump. Ahead of endorsing Biden, UAW President Shawn Fain said the choice union workers face in 2024 “isn’t about who you like. … Donald Trump stands against everything we stand for as a union – as a society.”The choice between Trump and Biden, Fain said, was clear. Trump has found support among the rank-and-file of the UAW despite Fain’s strong criticisms and union leadership’s consistent support of Democratic candidates.

Persons: Joe Biden, “, ” Biden, Biden, Donald Trump’s, Shawn Fain, isn’t, It’s, “ Donald Trump, ” Fain, that’s, … Donald Trump, Fain, “ Joe Biden, Donald Trump, ”, ” Trump, I’ve, Trump, –, Biden –, ” Shawn Fain, Ting Shen, Dan Kildee, ” Kildee, CNN’s Poppy Harlow, Joe Biden’s, Kildee Organizations: Washington CNN, United Auto Workers, Republican, GOP, UAW, Trump, Democratic Party, Great, Bloomberg, Michigan Democrat, Democratic, CNN, GM Locations: Washington ,, New Hampshire, Michigan, America, Israel, Gaza, Great Lakes State, Detroit

☆ Taiwan's new president will face a divided parliament. Here's why it matters
▼ + stars: | 2024-01-15 | by ( Clement Tan | ) www.cnbc.com time to read: +6 min

A kid runs across the flag of Taiwan banner during the announcement of official results on January 13, 2024 in Taipei, Taiwan. While Lai won the presidential election on Saturday with 40% of the popular vote, his DPP lost 10 seats in Taiwan's parliament from its previous 61, giving up its majority. Taiwan's president- and vice president-elect from the Democratic Progressive Party Lai Ching-te and Hsiao Bi-khim standing along several party's heavyweight on the central stage in Taipei on Janauary 13, 2024 to celebrate victory in Taiwan's 8th presidential election. The Chinese Communist Party has refused to engage with outgoing President Tsai Ing-wen since she assumed office in 2016. Supporters attend the Taiwan People's Party (TPP) campaign rally on January 12, 2024 in Taipei, Taiwan.

Persons: Sawayasu Tsuji, Lai Ching, Han Kuo, rancor, —, Lai, Timothy S, Rich, Sara Newland, TPP, Tsai, Gabriel Wildau, Democratic Progressive Party Lai Ching, Hsiao, Alberto Buzzola, Tsai Ing, Ting Yen Franklin Organizations: Getty, TAIPEI —, Taiwan People's Party, Democratic Progressive Party, Beijing Kuomintang, Kuomintang, KMT, TPP, Rich Western Kentucky University, Smith College, Lightrocket, Chinese Communist Party, Marshall College China, DPP, Chinese Communist Party officials, Taiwan Straits, Western Kentucky University, Supporters Locations: Taiwan, Taipei, China, Taiwan's, Beijing

☆ Who is Lai Ching-te, Taiwan’s new leader and why does China dislike him?
▼ + stars: | 2024-01-14 | by ( Nectar Gan | ) edition.cnn.com time to read: +11 min

On Saturday, Lai, 64, the current vice president from the ruling Democratic Progressive Party (DPP), won a widely watched election to become Taiwan’s next president. Confetti flies over crowds as Lai Ching-te speaks to supporters at a rally at the DPP's headquarters on January 13, 2024 in Taipei, Taiwan. It was 1994, less than a decade after the DPP first emerged from Taiwan’s democracy movement against the authoritarian rule of the Kuomintang (KMT). Louise Delmotte/AP‘Chill out’In the lead-up to the election, China made no secret of its desire to prevent a Lai victory. Hours after Lai declared victory, China dismissed the outcome of Taiwan’s elections, saying the DPP “does not represent mainstream public opinion” on the island.

Persons: CNN — Lai Ching, Lai, Taiwan’s, “, ” Lai, we’re, ”, Xi Jinping, ” “, –, Tsai Ing, Lai Ching, Annice Lyn, I’ve, Louise Delmotte, Hou Yu, Beijing’s, Tsai, Xi, Beijing, Hsiao Bi, Hsiao, ” Lai Ching, Ann Wang, ’ Lai, ” Yang Wei Organizations: CNN, Communist Party, Democratic Progressive Party, “, DPP, Kuomintang, KMT, Communist, ih, National Taiwan University, Reuters, Taiwan People’s Party, Taiwan Affairs Office Locations: Taiwan, China, Taiwan Strait, Beijing, Tainan, Taipei, United States, ”

☆ China skeptic Lai Ching-te wins Taiwan's presidential election
▼ + stars: | 2024-01-13 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

Taiwan's President-elect Lai Ching-te (left) gestures beside his running mate Hsiao Bi-khim during a rally outside the headquarters of the Democratic Progressive Party (DPP) in Taipei on January 13, 2024, after winning the presidential election. The outcome of the presidential election on Saturday riled Beijing, which has repeatedly labeled Lai as a "stubborn worker for Taiwan independence" and a dangerous separatist. Annabelle Chih | Getty Images News | Getty ImagesDPP's Lai — Taiwan's current vice-president — won more than 40% of the popular vote in Taiwan's eighth presidential election. DPP is the first party to win the presidential office three times in row since direct presidential elections were introduced in 1996. This year, 71.9% of all eligible voters cast their ballots for the presidential election, according to preliminary data from Taiwan's Central Election Commission.

Persons: Lai Ching, Hsiao Bi, Yasuyoshi Chiba, Lai, Tsai Ing, Tsai, Annabelle Chih, DPP's Lai, Taiwan's, —, Beijing's, Hou, Ko Wen, Chen Binhua, Chen, Xi Jinping, Antony Blinken, Ko, Wei, Ting Yen Organizations: Democratic Progressive Party, AFP, Getty, TAIPEI, Saturday, Beijing, Chinese Communist Party, DPP, KMT, Chinese Communist Party officials, Democratic Progressive, Kuomintang, Taiwan People's Party, Taiwan's, Taiwan Affairs Office, State Council, CNBC, Franklin, Marshall College, Taiwan's DPP Locations: Taipei, Taiwan, China, U.S, Taiwan Strait, Beijing, Taiwan —, Republic of China, Xinhua, United States

☆ IRS Court Win Paves Way for Higher Taxes on Hedge-Fund Managers
▼ + stars: | 2023-11-30 | by ( Richard Rubin | Peter Rudegeair | ) www.wsj.com time to read: 1 min

The IRS has challenged investment funds over who qualifies for an exception that limited partners get from federal self-employment taxes. Photo: Ting Shen for the Wall Street JournalThe Internal Revenue Service scored a significant win over the hedge-fund and asset-management industries this week in a case that could bring higher taxes for many fund managers. The U.S. Tax Court’s ruling could require managers to pay self-employment taxes of more than 3% on much of their income. If the opinion survives additional legal battles and is applied broadly, it would close off a popular technique that lets them exclude millions of dollars in income from self-employment taxes and related levies that others must pay.

Persons: Ting Shen Organizations: IRS, Wall Street, Internal Revenue Service, U.S, Tax

Owen Chow Ka-shing, one of the 47 pro-democracy activists charged with conspiracy to commit subversion under the national security law, arrives at West Kowloon Magistrates' Courts building, in Hong Kong, China November 29, 2021. On the first day of closing submissions, one of the handpicked national security judges, Andrew Chan, said a verdict would "tentatively" come in three to four months, with 10 days set aside for closing submissions. Beijing says the national security law brought stability to the city after monthslong pro-democracy protests in 2019. "Communication with the public is much easier, (it's) easy to manipulate those means in order to endanger national security," he added. Thirty-one of the 47 charged have pleaded guilty - which could qualify them for reduced sentences.

Persons: Owen Chow Ka, Lam, Andrew Chan, Hong, Jonathan Man, Man, Gwyneth Ho, Owen Chow, Gordon Ng, Leung Kwok, Helena Wong, Benny Tai, Joshua Wong, Gerry Doyle Organizations: REUTERS, Hong, Thomson Locations: Kowloon, Hong Kong, China, HONG KONG, United States, Beijing

☆ China puts Country Garden on draft list of builders to support -Bloomberg News
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +3 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 22 (Reuters) - China has placed debt-laden Country Garden Holdings Co (2007.HK) on a draft list of 50 developers eligible for a range of financing support, Bloomberg reported on Wednesday, citing people familiar with the matter. Country Garden declined to comment. Once China's biggest private property developer, Country Garden missed a coupon payment in October, triggering default terms. It is unclear what specific measures will be taken to support the developers on the draft list.

Persons: Aly, CIFI, Bloomberg, Ting Meng, Nomura, Devika Nair, Xie Yu, Kim Coghill, Clarence Fernandez Organizations: Shanghai Country Garden, REUTERS, Garden Holdings, HK, Bloomberg, Ocean Group, CIFI Holdings, Reuters, Wednesday, Regulators, Country, ANZ Bank China, Thomson Locations: Shanghai, China, Beijing, Bengaluru, Hong Kong

Globally, as many as 128,000 fishers face threats of violence, debt bondage, excessive overtime and other conditions indicative of forced labor, according to the U.N.'s International Labor Organization. U.S. and European companies are under increasing pressure to clean up supply chains in labor-intensive industries where worker abuse is widespread. But ZheJiang Hairong in a statement last year to the state-owned Fujian Daily claimed ownership of only five of the 10 vessels that would later appear on the Financial Transparency Coalition's list. Pingtan last year was sanctioned by the Biden administration over allegations of illegal fishing and labor abuse. The Financial Transparency Coalition scoured government reports, media accounts and complaints by advocacy groups to come up with a list of 475 individual vessels suspected of forced labor since 2010.

Persons: Joe Biden's, Beth Lowell, Pingtan, Biden, Fu Ting, Wanqing Chen Organizations: MIAMI, Financial, Coalition, D.C, Walton Family Foundation, AP, Associated Press, International Labor Organization . U.S, Force, Group, Seven, Atmospheric Administration, Ocean Fisheries Co, Pingtan Marine Enterprises, China National Fisheries Corp, Fujian Daily, New York Stock Exchange, Washington , D.C Locations: Washington, China, Russia, Spain, Thailand, Taiwan, South Korea, Myanmar, Cambodia, Laos, United States, U.S, Oceana, Panama, Belize, ZheJiang, Fujian, Washington ,, Beijing, Investigative@ap.org

☆ China's unfinished property projects are 20 times the size of Country Garden
▼ + stars: | 2023-11-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

HANGZHOU, CHINA - NOVEMBER 15, 2023 - An aerial photo shows a new property under construction in Hangzhou City, Zhejiang Province, China, Nov 15, 2023. (Photo credit should read CFOTO/Future Publishing via Getty Images)BEIJING — The size of unfinished, pre-sold homes in China is about 20 times the size of property developer Country Garden as of the end of 2022, according to a Nomura report on Wednesday. "We estimate that there are around 20 million units of unconstructed and delayed pre-sold homes," said Nomura's Chief China Economist Ting Lu and a team. About 3.2 trillion yuan ($440 billion) is needed to complete those remaining units, according to the analysts' estimates. Ensuring construction of the homes has been a government priority since delays make people less willing to buy new apartments.

Persons: Nomura, Ting Lu Organizations: National Bureau, Statistics, Publishing, Getty Images, U.S, Bloomberg News, China Locations: HANGZHOU, CHINA, Hangzhou City, Zhejiang Province, China, BEIJING

☆ Killing Federal Agencies Is Easier Said Than Done
▼ + stars: | 2023-11-11 | by ( Andrew Restuccia | ) www.wsj.com time to read: 1 min

The Robert F. Kennedy Department of Justice Building in Washington, D.C. Photo: Ting Shen for The Wall Street JournalWASHINGTON—Republican candidates for president are pledging to shut down federal agencies if they win the White House. There is almost no chance they will succeed. Closing a government agency requires action by Congress. Convincing a majority of the House and Senate to close down agencies, many of which distribute billions of federal dollars to their states and districts, has proven nearly impossible for decades. While past presidents have reorganized and rebranded departments, Washington has never shut down a major cabinet-level agency, according to experts who follow the issue.

Persons: Robert F, Ting Shen Organizations: Kennedy Department of Justice, Wall Street Journal WASHINGTON, White Locations: Washington ,, Washington

☆ Maryland Wins Bid for New FBI Headquarters Over Virginia
▼ + stars: | 2023-11-09 | by ( Sadie Gurman | ) www.wsj.com time to read: 1 min

The J. Edgar Hoover Building has been home to the FBI for nearly 50 years. Photo: Ting Shen for The Wall Street JournalThe Federal Bureau of Investigation will move from its crumbling home in downtown Washington to the Maryland suburbs, opening a new chapter in the tortured saga of the future of the bureau’s headquarters. The agency’s new main offices are set to be built in Greenbelt, Md., about 15 miles from the hulking, brutalist J. Edgar Hoover Building that has been its iconic home for nearly 50 years.

Persons: Edgar Hoover, Ting Shen, brutalist J Organizations: FBI, Wall Street, Federal Bureau, Investigation Locations: Washington, Maryland, Greenbelt, Md

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