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☆ China's battered economy finally gets some relief as third-quarter growth numbers beat expectations
▼ + stars: | 2023-10-18 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

That's good news for the world's second-largest economy, which has struggled since Beijing lifted zero-COVID restrictions late last year. China is also battling deflation, spiking youth unemployment, and a property-market crisis that’s brought down major developers like Country Garden and Evergrande. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementChina's beaten-down economy finally got some good news Wednesday, as second-quarter growth came in ahead of forecasters' expectations. Beijing will likely be breathing a sigh of relief at the latest data, which suggests the world's second-largest economy is still on track to meet authorities' target of 5% growth for 2023.

Persons: that’s, —, China's, Nomura Organizations: Service, Reuters, JPMorgan, Country, CSI, Hong Kong Hang Locations: Beijing, China, Hong Kong

☆ Scientists propose sweeping new law of nature, expanding on evolution
▼ + stars: | 2023-10-16 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

Evolution occurs, it holds, when these various configurations are subject to selection for useful functions. "We have well-documented laws that describe such everyday phenomena as forces, motions, gravity, electricity and magnetism and energy," Hazen said. The subsequent generation of stars that formed from the remnants of the prior generation then similarly forged almost 100 more elements. "Imagine a system of atoms or molecules that can exist in countless trillions of different arrangements or configurations," Hazen said. "Only a small fraction of all possible configurations will 'work' - that is, they will have some useful degree of function.

Persons: Charles Darwin, Darwin, Robert Hazen, Hazen, Michael Wong, Jonathan Lunine, Will Dunham, Lisa Shumaker Organizations: Carnegie Institution for Science, National Academy of Sciences, Carnegie, Cornell, Thomson Locations: British

Germany's property sector is in stress, underscoring a major change of fortune for real estate in Europe's largest economy after an end to the era of cheap money. REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsFRANKFURT, Oct. 13 (Reuters) - German Chancellor Olaf Scholz is facing fresh demands to stem a property crisis in Europe's largest economy after a recent summit aimed at rescuing the sector disbanded in acrimony. The industry's demands reflect alarm that Germany is being sucked further into a global property rout that has been most acutely felt in China. There is also concern that the government is dragging its feet after a contentious industry meeting with the chancellor on Sept. 25. The number of people employed in the building sector has begun to drop for the first time in a decade.

Persons: Kai Pfaffenbach, Olaf Scholz, Wolfgang Schubert, Raab, Schubert, Nicole Razavi, Scholz, Francesco Fedele, Kirsten Donovan Organizations: REUTERS, Rights, Reuters, International Monetary Fund, chancellery, Thomson Locations: Frankfurt, Germany, Germany's, Europe's, China, Razavi, United States

☆ China still can't beat deflation as its economy continues to flounder
▼ + stars: | 2023-10-13 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

China remains on the brink of deflation, according to official figures published Friday. AdvertisementAdvertisementChina's battered economy still can't shake off the threat of deflation, official government figures released Friday show, as a key gauge of price rises unexpectedly flattened. The country's consumer price index was unchanged last month, the National Bureau of Statistics said. Meanwhile, factory-gate costs as measured by the producer price index fell 2.5% in September for their 12th consecutive monthly decline, the data showed. Both price indices fell short of economists' expectations, per Reuters polls conducted before the figures were published.

Persons: —, Hong Organizations: Service, National Bureau of Statistics, CPI, CSI, China Locations: China, Beijing

☆ Scientists untangle mystery about the universe's earliest galaxies
▼ + stars: | 2023-10-06 | by ( Will Dunham | ) www.reuters.com time to read: +5 min

Star formation in the early galaxies occurred in occasional big bursts, they found, rather than at a steady pace. "According to the standard model of cosmology, there should not be many very massive galaxies during cosmic dawn because it takes time for galaxies to grow after the Big Bang. And the reason this is so significant is that we explain these very bright galaxies without having to break the standard cosmological model," Faucher-Giguère added. They blast gas into space that becomes ingredients for another burst of star formation. But the stronger gravitational effects in larger galaxies prevent these bursts, favoring steady star formation.

Persons: NASA's James Webb, James Webb, Sun, Webb, Claude, André, Giguère, Will Dunham, Rosalba O'Brien Organizations: Northwestern University, Astrophysical, Thomson Locations: WASHINGTON, Illinois

“The electrons are very fast, and the electrons are really the workforce in everywhere,” Nobel Committee member Mats Larsson said. WHAT DISCOVERY WON THE NOBEL PRIZE IN PHYSICS? “Let’s take one second, which is the time of a heartbeat,” Nobel Committee chair Eva Olsson said. “I was very concentrated, forgot about the Nobel Prize and tried to finish my lecture,” L'Huillier told the AP. The physics prize comes a day after two scientists won the Nobel Prize in medicine for discoveries that enabled the creation of mRNA vaccines against COVID-19.

Persons: Anne L’Huillier, Pierre Agostini, Ferenc Krausz, Mats Larsson, “, ” L’Huillier, ” L'Huillier, Eva Olsson, Mark Pearce, “ It's, that's, ” Krausz, Krausz, L'Huillier, ANNE L'HUILLIER, FERENC KRAUSZ, PIERRE AGOSTINI, L’Huillier, ”, wasn't, Agostini, it's, Max, Ludwig Maximilian, I'd, Wolf, Paul Corkum, Corkum, Alfred Nobel, ___ Borenstein, Mike Corder, Nicolas Garriga, Jan M, Olsen, Geir Moulson Organizations: STOCKHOLM, Lund University, Associated Press, “, Lund, Royal Swedish Academy of Sciences, Ohio State University, Max Planck, Quantum Optics, Ludwig, Ludwig Maximilian University of Munich, University of Ottawa, COVID Locations: French, Swedish, Hungarian, Sweden, Stockholm, “, Paris, Columbus, Washington, Leicester, The Hague, Netherlands, Copenhagen, Berlin

☆ 10 things I wish I knew before I moved from New York to London
▼ + stars: | 2023-09-29 | by ( Kim Davis | ) edition.cnn.com time to read: +13 min

CNN —It’s been nearly 20 years since I moved from New York to London. I don’t drink alcohol, so, when I first moved to the UK, I avoided the pubs for about a year. To my great surprise, I discovered that British pubs were nothing like I had imagined! “Yeah?” “Yeah!!!!! According to the UK Tea and Infusions Association, Brits drink over 100 million cups daily and 36 billion cups per year!

Persons: CNN — It’s, Leicester, Kim Davis, breathlessly, I’m, “, ”, I’ve, mickey ”, Sheldon Cooper, don’t, Hershey, et Walker, Eliza Doolittle, Little, it’s, Ariel, ” Don’t, There’s, Parinya, Abbott, Costello “ Who’s, Tummy, Mason, You’ll Organizations: CNN, Brit, British, Harrods, LIPTON Locations: New York, London, United States, United Kingdom, Yorkshire, Britain, Europe, “, America, York, Darjeeling, Assam, Ceylon

☆ Right again, Einstein! Study shows how antimatter responds to gravity
▼ + stars: | 2023-09-27 | by ( Will Dunham | ) www.reuters.com time to read: +5 min

Antimatter is the enigmatic twin of ordinary matter, possessing the same mass but with an opposite electrical charge. Under current theory, the Big Bang explosion that initiated the universe should have produced equal amounts of matter and antimatter. However, antimatter can be synthesized under controlled conditions, as in the ALPHA experiment, which used antihydrogen created at CERN. "The nearly complete absence of naturally occurring antimatter is one of the great questions facing physics," Wurtele said. "No matter how pretty the theory, physics is an experimental science," Fajans said.

Persons: Jonathan Wurtele, Joel Fajans, Wurtele, Einstein, William Bertsche, Bertsche, Fajans, Will Dunham, Rosalba O'Brien Organizations: European Center for Nuclear Research, CERN, Enterprise, University of California, ALPHA, UC Berkeley, University of Manchester, Thomson Locations: Geneva, Switzerland, Berkeley, England, Washington

☆ Britain grapples for agreement over listing rules overhaul
▼ + stars: | 2023-09-25 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

Signage for the Financial Conduct Authority (FCA), Britain's financial regulatory body, is seen at its head office in London, Britain, March 10, 2022. The decision by UK chip designer Arm Holdings to list in the United States triggered calls in Britain to make London more attractive as a listings destination by easing the rules. The Financial Conduct Authority (FCA) has proposed combining its "premium" and "standard" listing categories, and ease other listing requirements such a requirement for a detailed financial track record, prompting sharp criticism from shareholder groups. The new rules would be confirmed before the end of this year, which the FCA would seek to implement speedily, Pritchard said. Julia Hoggett, CEO of London Stock Exchange, said London was already an attractive listings venue, and "narratives" that keep it down needed challenging.

Persons: Toby Melville, Sarah Pritchard, Pritchard, Julia Hoggett, Hoggett, Huw Jones, Alex Richardson Organizations: Financial, Authority, REUTERS, Arm Holdings, Financial Conduct Authority, London Stock Exchange, Thomson Locations: London, Britain, New York, United, United States

☆ Zhang knocks out Joyce in round three of heavyweight rematch
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +1 min

LONDON, Sept 23 (Reuters) - Chinese heavyweight Zhilei 'Big Bang' Zhang knocked out Britain's Joe Joyce in the third round of their rematch at London's Wembley Arena on Saturday. The 40-year-old Zhang sent his 38-year-old opponent sprawling to the canvas with a huge right hook to his jaw. Joyce got back to his feet and received oxygen after the referee waved off the fight. Zhang, the 2008 Olympic silver medallist who stopped Joyce in six rounds last April at London's Copper Box, is the WBO's mandatory challenger for Ukraine's WBO, IBO, IBF and WBA champion Oleksandr Usyk. Britain's 'Gypsy King' Fury is the holder of the WBC world heavyweight belt.

Persons: Zhang, Britain's Joe Joyce, Joyce, Oleksandr Usyk, it's, Tyson Fury, Fury, Alan Baldwin, Ken Ferris Organizations: London's Wembley, Ukraine's WBO, IBO, IBF, WBA, WBC, Thomson

☆ Opinion | The Era of Prestige TV Is Ending. We’re Going to Miss It When It’s Gone.
▼ + stars: | 2023-09-21 | by ( Roy Price | ) www.nytimes.com time to read: +3 min

I left Amazon Studios in 2017 (after accusations I dispute), and five years later, the larger industry picture looks exceedingly bleak. In the last year nearly every major studio, from Warner Bros. to Paramount, has announced layoffs and write-offs. Amazon was plagued by reports that its big investment in a “Lord of the Rings” series yielded disappointing viewership numbers. Many of its key writers and producers, including Judd Apatow and Steve Levitan, went on to broadly influence TV and film comedy. It’s HBO.” summed it up: Prestige TV was trying to be, as was sometimes said, “filmovision” — as dark and true to life or shockingly violent as necessary.

Persons: Bob Iger’s, HBO Max, Max, they’ll, Larry Sanders, “ Sanders ”, Judd Apatow, Steve Levitan, Oz, ”, “, Maisel, Ted Lasso ”, Pimple Popper, ” there’s Organizations: Amazon Studios, Warner Bros, Paramount, Disney, HBO, Showtime, City, Prestige, Netflix, “, Amazon, Golden Globes

The Viking Star cruise ship is moored at Greenwich with the City of London financial district in the distance, in London, Britain, August 29, 2023. It is absolutely the time for action over words," Alasdair Haynes, CEO of Aquis Exchange, a share trading platform, and chair of financial industry body TheCityUK's Business Council, told Reuters. The main problem for trade bodies is the vast scope of Britain's financial services industry, with each sub-sector and TheCityUK presenting their own reform priorities and ideas, often overlapping. In the meantime, top financial sector executives running global teams of bankers and traders are increasingly bewildered by Britain's inability to make faster progress on a matter of such economic significance. ELECTION LOOMINGSome senior financial industry sources say politics may hamper the City's reform agenda even further, with a general election expected next year.

Persons: Kevin Coombs, Alasdair Haynes, Jeremy Hunt, Nicholas Lyons, TheCityUK, ” Samuel Gregg, Richard Gardner, Huw Jones, Sinead Cruise, Hugh Lawson Organizations: Viking, City, REUTERS, London’s, Mayor, European Union, Aquis, Business, Reuters, Finance, stoke, of, Arm Holdings, Labour, Conservative, American Institute for Economic Research, Investment Funds Association, EU, Thomson Locations: Greenwich, London, Britain, Europe, Asia, United States, Edinburgh, of London, New York, Amsterdam, City, France

From a distance, the whole site could be mistaken for an old mining camp you might come across in Montana or Idaho. They were listening to the last sigh of the Big Bang, which birthed the universe 13.8 billion years ago and is detectable now only as a faint, omnipresent hiss of microwave radiation. Up until then, scientists had debated whether the universe even had a beginning; maybe it was timeless. As important, the discovery brought the beginning of time into the lab, where it could be pinched, squeezed and dissected. The cosmic microwave background offered a new window into the nature of reality, one into which astronomers have been peering intently ever since.

Persons: Crawford Hill, Arno Penzias, Robert Wilson, Penzias, Wilson Organizations: Historic Landmark Locations: Crawford, Monmouth County, N.J, Manhattan, Montana, Idaho

☆ Is There a Crisis in Cosmology? - The New York Times
▼ + stars: | 2023-09-02 | by ( Adam Frank | Marcelo Gleiser | ) www.nytimes.com time to read: +2 min

A potent mix of hard-won data and rarefied abstract mathematical physics, the standard model of cosmology is rightfully understood as a triumph of human ingenuity. It has its origins in Edwin Hubble’s discovery in the 1920s that the universe was expanding — the first piece of evidence for the Big Bang. Over the past 60 years, cosmology has become ever more precise in its ability to account for the best available data about the universe. Cosmic inflation is an example of yet another exotic adjustment made to the standard model. There is nothing inherently fishy about these features of the standard model.

Persons: Edwin Hubble’s, can’t

ESA & NASA/Solar Orbiter/EUI team/Handout via REUTERS File Photo Acquire Licensing RightsBENGALURU, Sept 2 (Reuters) - Following quickly on the success of India's moon landing, the country's space agency launched a rocket on Saturday to study the sun in its first solar mission. The rocket left a trail of smoke and fire as scientists clapped, a live broadcast on the Indian Space Research Organisation's (ISRO) website showed. While Russia had a more powerful rocket, India's Chandrayaan-3 out-endured the Luna-25 to execute a textbook landing. Prime Minister Modi is pushing for India's space missions to play a larger role on a world stage dominated by the United States and China. Satellites in low earth orbit are the main focus of global private players, which makes the Aditya-L1 mission a very important project," he said.

Persons: clapped, Luna, Modi, Sankar Subramanian, Somak Raychaudhury, Rama Rao Nidamanuri, Nivedita, Jayshree, William Mallard Organizations: Solar Orbiter, ESA, NASA, Solar, Rights, Indian Space Research, Elon, SpaceX, Indian Institute of Space Science, Technology, ISRO, Thomson Locations: India, Russia, United States, China, Bengaluru

☆ There could be even tougher times ahead for China's economy, as forecasters slash their growth predictions
▼ + stars: | 2023-08-29 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Forecasters polled by Bloomberg have slashed their growth outlook for China. The country is battling deflation, soaring youth unemployment, and a property-market crisis. Policymakers cut stamp duty taxes Monday – but are yet to roll out a "big bang" economic fix. China's economy expanded 6.3% over the second quarter of 2023, falling well short of forecasters' expectations, while the country is also battling deflation, record youth unemployment, and a severe real-estate crisis. "As its economy continues facing downward pressures, its growth momentum might slow down further, in turn exacerbating the already significant pressures that the global economy is facing."

Persons: They're, Joe Biden, Alfredo Montufar, – Organizations: Bloomberg, Service, China Center, Conference Board Locations: China, Wall, Silicon, Beijing

REUTERS/Aly Song/File Photo Acquire Licensing RightsHONG KONG/AMSTERDAM, Aug 24 (Reuters) - Global investors fleeing China have one simple message for the country's leadership: put prudence aside for a short while, and start spending big. "At this point there is confusion and, as long as there is confusion, then there's lack of credibility and that means investors are more likely to stay away," said Seema Shah, chief global strategist at Principal Global Investors in London. Prominent examples are heavy Chinese government spending during the 2008 Global Financial Crisis and its swift intervention during the 2015 market crash. But the subsidies need to come from local governments, many of which are cash-strapped or even drowning in debt and unable to pay their civil servants. The lack of concrete stimulus measures now is prompting many China watchers to downgrade their growth estimates for the next few years.

Persons: Aly, China's, Seema Shah, Chen Zhao, Zhao, hasn't, Frederik Ducrozet, Ducrozet, Principal's Shah, Yan Wang, Xi Jinping's, we’ve, Lorraine Tan, Dhara Ranasinghe, Davide Barbuscia, Yoruk, Xie Yu, Ankur Banerjee, Tom Westbrook, Li Gu, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Global, Global Investors, policymaking Politburo, Pictet Wealth Management, Local, UBS Bank, Federated Hermes, Foreigners, Asia, Morningstar, Thomson Locations: Huangpu, Shanghai, China, HONG KONG, AMSTERDAM, London, Beijing, Japan, United States, New York, Amsterdam, Hong Kong, Singapore

☆ Nick Hornby Reviews a Short History of the Beatles Before the Band
▼ + stars: | 2023-08-18 | by ( Nick Hornby | ) www.nytimes.com time to read: +2 min

THIS BOY: The Early Lives of John Lennon & Paul McCartney, by Ilene CooperIn the early 1980s I was an English teacher at a high school in Cambridge, England. “He introduced John Lennon to Paul McCartney.” I stared at him. Vaughan invented fame. Introducing Paul to John was like introducing ketchup to fries, or causing the Big Bang. By the time John and Paul were 10 and 8, respectively, only 7 percent of 17-year-olds were in school.

Persons: John Lennon, Paul McCartney, Ilene Cooper, Ivan Vaughan, ”, Vaughan, Paul, John, Paul McCartney ”, “, Cooper, Little Richard, Elvis Presley, Peter Sellers, Starchy George Martin Locations: Cambridge, England, Woolton, Liverpool, American

☆ China is hiding key data to pretend its economy is doing OK. It's not.
▼ + stars: | 2023-08-16 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

China is hiding unflattering data, with its economy struggling. The National Bureau of Statistics didn't report youth unemployment numbers this month. The National Bureau of Statistics said Tuesday it would stop releasing youth unemployment numbers, after joblessness among 16-to-24 year olds spiked to 21% in June. China's economy could be a "ticking time bomb", the President told a fundraiser event in Utah, adding that "when bad folks have problems, they do bad things." Those measures could help jumpstart China's struggling economy – but trying to turn off the bad news tap will not.

Persons: Brad Setser, Joe Biden, jumpstart Organizations: National Bureau, Statistics, Financial Times, Service, National Bureau of Statistics, Treasury Locations: China, Beijing, Wall, Silicon, Japan, Utah, China's

☆ New photo from NASA's James Webb Space Telescope reveals the colors of Earendel, the farthest star ever detected
▼ + stars: | 2023-08-15 | by ( Grace Eliza Goodwin | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +3 min

Earendel was first discovered by the Hubble Space Telescope last year. Webb is 100 times more powerful than Hubble, though, and it captured previously unseen colors of the distant star. Those colors reveal that being the farthest star we've ever detected does not make Earendel lonely — scientists believe it has a companion star beside it. Stars as massive as Earendel do typically have companions, but Hubble was unable to detect one for Earendel. Thanks to the Webb Telescope's powerful infrared vision, though, scientists believe they can see, for the first time, a "cooler, redder companion star" beside Earendel.

Persons: James Webb, Earendel, Coe, Welch, NASA’s, Webb, Hubble, Webb's Organizations: Service, James Webb Space, Hubble, NASA, ESA, CSA, Johns Hopkins University, Space Flight, University of Maryland, College Locations: Wall, Silicon, Earendel

☆ Webb telescope captures image of most distant star ever seen
▼ + stars: | 2023-08-11 | by ( Ashley Strickland | ) edition.cnn.com time to read: +3 min

CNN —Astronomers have used the James Webb Space Telescope to observe Earendel, the most distant star ever detected. Earendel is so distant that the starlight glimpsed by the Webb telescope was emitted within the first billion years of the universe. The star’s name derives from Old English words that mean “morning star” or “rising light.” The Hubble Space Telescope first spotted Earendel in 2022. Webb’s observations have revealed new insights about the incredibly distant star. Earendel is a massive B-type star about 1 million times more luminous than our sun and more than twice as hot.

Persons: James Webb, Webb, Earendel Organizations: CNN —, Hubble, NASA, ESA, CSA

☆ China slips into deflation, fueling more calls for economic stimulus
▼ + stars: | 2023-08-09 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Shop and factory prices both fell in China last month, according to data released Wednesday. That means the country is suffering deflation for the first time in over two years. It's the latest in a long list of concerns for Beijing as China's post-COVID rebound fizzles out. That's another economic worry for Beijing, which is also contending with faltering growth, skyrocketing youth unemployment, and massive amounts of debt. The data released Wednesday is likely to lead to more calls for fiscal stimulus, according to analysts.

Persons: Hargreaves, Steve Clayton, Jim Reid Organizations: Service, Privacy, China, National Bureau of Statistics, CPI, PPI, Deutsche Bank Locations: China, Beijing, Wall, Silicon

☆ China is telling economists not to talk about deflation or faltering growth, report says
▼ + stars: | 2023-08-07 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Beijing is telling economists not to talk about deflation or falling foreign investment, per the FT.Policymakers are mulling how to revive growth but yet to announce a "big bang" stimulus package. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Loading Something is loading. Economists, brokerage analysts, and researchers all told the publication that regulators, their employers, or local media had warned them not to talk about deflation, slumping foreign investment, and faltering growth, the newspaper reported. In July alone, second-quarter growth came in well below economists' expectations, consumer price inflation fell to 0%, and youth unemployment skyrocketed to 21%.

Persons: Xi, – Organizations: Service, Financial Times, Authorities Locations: Beijing, Wall, Silicon, China

☆ China is still waiting for a 'big bang' economic fix as Beijing grapples with more bad news
▼ + stars: | 2023-08-01 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

China's manufacturing sector contracted in July, multiple indexes showed. Policymakers have hinted at an economic boost – but are yet to roll out a stimulus package. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The country's top decision-making body acknowledged that the economy faced "new difficulties and challenges" last week – and pledged to roll out a stimulus package "with precision and force". The Swiss bank predicted policymakers would hint at but fall short of bringing in the "big bang" stimulus package needed to revive growth.

Persons: –, Beijing's, Julian Evans, Pritchard Organizations: Service, Privacy, China, P Global Manufacturing, UBS, Economics Locations: Beijing, Wall, Silicon, Swiss, China

☆ China hints at bringing in a stimulus package to support its faltering economy
▼ + stars: | 2023-07-25 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The Politburo acknowledged a stimulus package would be needed to deal with "new difficulties and challenges". Beijing's top decision-making body the Politburo said late Monday that it would launch its stimulus package "with precision and force" to boost demand, according to Xinhua. The country's economy has also been plagued by a property-market crisis ever since embattled developer Evergrande missed its scheduled debt repayments in 2021. The Politburo had been expected to conclude its July meeting later this week, so Monday's hints of a stimulus package surprised markets. "Though few concrete details were revealed and the language falls short of bazooka-style stimulus measures, we think the tone taken is positive," he added.

Persons: Xi Jinping, Evergrande, Mark Haefele Organizations: Service, Xinhua, CSI, UBS Global Wealth Management Locations: Wall, Silicon, Shanghai, Beijing

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