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Tingshu Wang | ReutersFrom Apple to Starbucks , U.S. consumer brands are reporting yet another quarter of China sales declines. Apple last week reported Greater China sales fell slightly to $15.03 billion in the three months ended Sept. 28, down from $15.08 billion in the year-ago period. The quarterly sales decline reduced Apple's China revenue share to 15.8% of total net sales, down from 16.9% in the year-ago period. Low consumer confidenceU.S. sportswear giant Nike said that Greater China revenue for the quarter ended Aug. 31 fell by 4% year-on-year to $1.67 billion. In Europe, luxury giant LVMH also felt the drag from the China market.
Persons: Tingshu Wang, Tim Cook, Apple, Brian Niccol, Niccol, Matthew Friend, Jean, Jacques Guiony, Isaac Stone Fish, Cummins, Walt, Fish Organizations: Reuters, Apple, U.S, Starbucks, Nike, Carrier, Coca Cola, RTX Corporation, Honeywell, Walt Disney, Caterpillar Locations: Chengdu, Sichuan province, China, U.S, what's, Hong Kong, Macao, Taiwan, Greater China, Europe, Asia, Japan, COVID, Japan Asia
Chinese Premier Li Qiang spurred market expectations for more stimulus in a speech. China's services activity and business confidence rose in October, boosting market sentiment. Beijing is monitoring the US presidential election and may adjust its fiscal stimulus based on its outcome. He also drummed up market expectations for more economic stimulus, saying Beijing has "ample space for fiscal policy and monetary policy." AdvertisementBeijing is likely to roll out a bigger stimulus to buffer market volatility if Republican candidate Donald Trump wins, Varathan wrote.
Persons: Li Qiang, , Li's, Wang Zhe, Wang, Hong, Harris, Vishnu, Mizuho Bank's, Donald Trump, Varathan Organizations: Service, P Global, Protesters, Caixin Insight, Deutsche Bank, PMI, National People's Congress, Trump Presidency, Reuters Locations: Beijing, China, Asia, Japan
China has chosen Saudi Arabia as the site for its next offering of US dollar bonds. Saudi Arabia is leaning on Chinese investment to bankroll large development projects. Saudi Arabia has embraced Chinese investment to help bankroll its juggernaut modernization plans. At the end of October, Saudi Arabia debuted two new exchange traded funds to track markets in Hong Kong and China. Earlier this year, the US offered Saudi Arabia tech and security deals on the condition that Riyadh rejects its new tech alliance with China.
Persons: It's, Organizations: Service, Ministry, Finance, Saudi Public Investment Fund, Financial Times, Tech, US Locations: China, Saudi Arabia, Riyadh, Beijing, Russia, Neom, Hong Kong, Saudi
LONDON British telecom firms Vodafone and Three's multibillion-pound merger could go ahead if the companies adopt a series of proposed remedies to clear competition concerns, regulators said Tuesday. Vodafone has previously said that the combined entity, once merged, would invest £11 billion ($14.46 billion) into U.K. telecommunications infrastructure. Vodafone has also said it disagrees with earlier findings from the CMA that the merger would lead to price increases for consumers. It says the merger wouldn't pricing strategy and would enhance competition between mobile virtual network operators, or MVNOs. "Approval would mark one of the most significant developments in the history of UK mobile, heralding the arrival of a new market leader with over 29 million customers," Manning said in emailed comments.
Persons: Margherita Della Valle, Three's, Stuart McIntosh, McIntosh, CK Hutchison, Kester Manning, Manning Organizations: Vodafone, LONDON, Markets Authority, Ofcom, CMA, CNBC, 5G, Sky Mobile, Mobile, CK, CK Hutchison, EE, BT, O2, Telefonica, Liberty Global, CCS Insight Locations: London, British, Hong Kong
China’s J-20 stealth fighter entered service in 2017, officials said at the time. Stealth fighters are those that are designed to evade radar and other monitoring to conduct missions without being detected or intercepted. It’s not clear when the new J-35A fighter would be commissioned into military use and where the fighters would be deployed. China’s development of stealth fighters has for years been dogged by accusations that it stole crucial stealth fighter technology from the US. The J-35A is a “new type of stealth fighter jet independently developed by Aviation Industry Corporation of China (AVIC),” a Chinese military affiliated outlet said this week.
Persons: China’s, Li Li, , It’s, Carl Schuster, ” Schuster, Der Spiegel, Edward Snowden, Niu Wenbo, Russia’s Su Organizations: Hong Kong CNN, Janes, People’s Liberation Army, PLA, Air Force, Pacific Command’s Joint Intelligence Center, PLA Navy, US National Security Agency, Aviation Industry Corporation of China Locations: Hong Kong, Zhuhai, States, Asia, China, Beijing, German
Asia-Pacific markets are set to trade mixed on Tuesday as investors prepared for the U.S. presidential election and a possible interest rate cut from the Federal Reserve later this week. Hong Kong's Hang Seng index futures were at 20,658, slightly higher than the HSI's last close of 20,567.52. Australia's S&P/ASX 200 slid 0.32% as traders keep an eye on the upcoming central bank rate decision. Analysts at HSBC and the Commonwealth Bank of Australia expect the Reserve Bank of Australia to leave the cash rate unchanged. South Korea's consumer inflation in October rose 1.3% from a year ago, slightly cooler than Reuters' expectations of 1.4%.
Persons: Australia's Organizations: U.S, Federal Reserve, Nikkei, HSBC, Commonwealth Bank of Australia, Bank of Australia Locations: Asia, Pacific, Chicago, Osaka
He recently told the Wall Street Journal editorial board that Chinese President Xi Jinping respects him but also knows he’s “crazy” and wouldn’t provoke him. But Chinese officials might also see potential for Musk to be a mitigating influence on issues such as tariffs. Like other American business leaders, Musk has met with senior Chinese officials as Beijing courts international companies. AP fileIf Chinese officials receive Musk almost like a world leader, the Chinese public treats him like a rock star. Chinese officials have not been shy about making the connection between what Musk says and where he makes his money.
Persons: Donald Trump, Elon Musk, Jia Qingguo, Trump, ” Jia, Xi Jinping, he’s, ” Trump, Joe Biden’s, , they’re, , Kelly Grieco, Musk, Li Qiang, Qin Gang, ” Grieco, Jennifer Lian, Henry Kissinger, Ian Bremmer, Tesla, Kuan, “ He’s, ” Tesla, Li Keqiang, Li, ” Musk, Grieco, didn’t, Xi, Qin, Hsiao, Kamala Harris, Janis Mackey Frayer, Jennifer Jett Organizations: SHANGHAI, Trump, Peking University, NBC News, Wall Street, Stimson, Qin, Weibo, Communist Party ., Eurasia Group, SpaceX, Shanghai Gigafactory, Getty, U.S, Shanghai, NBC, Global Times, Financial Times, Beijing, Washington, U.S ., Democratic Locations: China, Beijing, Musk, Washington, U.S, United States, York, Shanghai, Chinese, Jiangsu, Xinjiang, Taiwan, Hong Kong, Starlink, Ukraine, Russian, British, European
It is unclear exactly when the incident occurred but both the video and reports in Iranian media began circulating on Saturday. Authorities in the Islamic Republic have used the morality police to enforce the strict dress code in a crackdown since the protests that swept the country two years ago. After receiving a warning from campus security about dress code regulations, she stripped off her clothes and walked around the university." In a post Saturday on X, Mahjob rejected the suggestions that the student had protested the dress code and questioned her mental state. Amini, an Iranian-Kurdish woman, was detained by the country’s morality police for allegedly not adhering to the strict dress code.
Persons: Tasnim, Mai Sato, , Seyed Amir Mahjob, Mahjob, Amini Organizations: Islamic Azad University, NBC News, Authorities, Amnesty International, United Nations Locations: Tehran, Islamic Republic, Iran, , Fars, Iranian
The fine points to a Russian legal system focused more on symbolic punishment than enforcement. All the same, that is what a Russian court maintains the company owes, as punishment for suspending accounts from YouTube. Related storiesLegal experts told Business Insider what it symbolizes is a Russian legal and economic system estranged from much of the world. AdvertisementRussia has effectively annulled intellectual property rights, enabling its companies to freely use patents and designs from Western companies. The scholars BI spoke to did not expect any other nation's court to try to enforce the Google fine.
Persons: , Dmitri Peskov, Tyler Kustra, Kustra, Heineken, Christine Abely, Abely, Nathanael Tilahun, hasn't, Oleksandra, Snellman Organizations: YouTube, Google, Service, UK's University of Nottingham, Deutsche Bank, Commerzbank, New England Law, University of Essex, Bloomberg Locations: Russian, Russia, Ukraine, Dutch, Hong Kong , South Africa, Netherlands
Five-star carrier Singapore Airlines is investing $830 million to retrofit 41 Airbus A350 planes. Business class doors are increasingly popular as flyers demand more privacy in high-dollar cabins. The privacy door, a flyer favorite, is an increasingly popular perk in business class. Singapore opted for privacy wings instead of a door on its existing A350 business class, which Business Insider flew in January 2023. Singapore's A350-900ULR will add three business class seats but lose 36 premium economy seats to make room for first class.
Persons: , Taylor Rains, Goh Choon Phong Organizations: Singapore Airlines, Boeing 777X, Service, Airbus, Singapore, Business, Insider Airlines, Air, American Airlines, British Airways, Korean Air, Turkish Airlines, Boeing, Qatar Airways, Cathay Locations: Qatar, Air India, Singapore, New York City, Singapore Airlines Singapore, London, Hong
Some 4.74 million Chinese couples registered their marriages in the first three quarters of 2024, a decrease of 16.6% from the 5.69 million recorded in the same period last year, according to data released by the Ministry of Civil Affairs on Friday. A rebound in marriages last year after stringent Covid restrictions were lifted appears to be an anomaly largely driven by pent-up demand. Many are postponing marriage and childbirth – and a growing number of young people even choose to eschew them entirely. The stubborn downward trend is also a result of changing attitudes to marriage, especially among young women who are becoming more educated and financially independent. In the first nine months of this year, some 1.96 million couples registered for divorces, a slight decline of 6,000 year-on-year, according to data from the Ministry of Civil Affairs.
Persons: , Cai Jingyu, Organizations: Hong Kong CNN, Ministry of Civil Affairs, Association, China isn’t Locations: Hong Kong, China, Beijing, People’s Republic, India, Shenyang Imperial, Shenyang, Japan, South Korea
As China's biggest shopping festival of the year gets underway, analysts are starting to favor Chinese logistics companies as a way to play the online shopping trend. The JPMorgan report initiated coverage of U.S.-listed ZTO Express , which the analysts said is China's largest express parcel player with more than 20% of the market. ZTO YTD mountain ZTO Express shares in the U.S. in 2024. Morgan Stanley is less bullish, rating J & T equal-weight while citing competitive risks in China and potential challenges in Southeast Asia. "Cuts on overseas profitability outlook has weakened our investment thesis," the Morgan Stanley analysts said.
Persons: JD.com, Morgan Stanley, ZTO, Morgan Stanley's, Nomura, Jet Li, Li, Michael Bloom Organizations: JPMorgan, YTO Express, STO Express, Yunda, T Global Express Ltd, ZTO's, ZTO Express, J, T Global Express, HK, Nomura, Hong Kong, Hong, CNBC Locations: Hong Kong, U.S, China, Southeast Asia, T Global Express Hong Kong
It was the annual Kukur Puja festival in Nepal on Thursday, and dogs across the nation were draped in marigold garlands, marked with celebratory vermillion pigment and presented with overflowing platters of treats. Like Diwali in India, the five-day Hindu festival of Tihar, being celebrated this week in Nepal, is a festival of lights. Unlike Diwali, Tihar includes the worship of creatures, and Kukur Puja, on its second day, is dedicated to dogs. According to Hindu mythology, dogs are the messengers of Yamaraj, the god of death. All dogs, including pets, strays and working dogs, are worshipped.
Persons: Yamaraj Locations: Nepal, India
Voter turnout among this group is low — less than 8% in the 2020 presidential election, according to FVAP, compared with almost 67% overall. Overseas voters “can sway an election, especially in the swing states,” said James Lockett, chair of Democrats Abroad Hong Kong. During the 2022 midterm elections, overseas voters also made the difference in close races in Connecticut, New Hampshire and North Carolina, the DNC said. Even as Republicans raise concerns about overseas voters, their presidential nominee, former President Donald Trump, appears to be seeking their support. “You can’t treat overseas Americans as second-class citizens, and I don’t care if they are Republicans, Democrats or independents.”
Persons: , James Lockett, Lockett, Abhi Rahman, “ We’re, ” Lockett, we’re, Biden, Lloyd Austin, , Donald Trump, ” Trump, Solomon Yue, Trump, Kamala Harris, Yue, “ It’s, “ You’ve Organizations: U.S, Republicans, Voting, Overseas, Democratic National Committee, Republican National Committee, ” Reuters, Wall Street, Republicans Overseas, Democratic, RNC Locations: HONG KONG, United States, U.S, Hong Kong, Texas, Arizona , Georgia, Michigan, Nevada , North Carolina , Pennsylvania, Wisconsin, Connecticut , New Hampshire, North Carolina, Michigan , North Carolina, Pennsylvania, Eritrea, Oregon
FARUKH NAGAR, India — The words “Indian Fireworks” are spelled out faintly in Hindi on the disused storefront. The small factory and dozens of others in this town a couple of miles from India’s capital, New Delhi, once produced a dizzying array of fireworks. Now there are neither fireworks nor any shoppers at the abandoned workshops of Farukh Nagar, which had produced the pyrotechnics since before the country’s independence from British colonial rule in 1947. The town stands as a grim reminder of the government’s crackdown on pollution and what it deems dangerous fireworks. “No place celebrated Diwali like we did.”
Persons: FARUKH, Farukh, gifting, , Mohammed Hamid Locations: FARUKH NAGAR, India, India’s, New Delhi
Australian golfer Jeffrey Guan has vowed to return to the sport and “conquer any obstacle” after he was struck in the face by a golf ball and completely lost sight in his left eye. “The instant ringing and pain rushed to my head, and I dropped to the ground,” Guan wrote. Any activity that required energy, including walking and eating, would leave him in “excruciating pain,” he wrote. Though he missed the cut, “just competing in the event was a massive accomplishment,” Golf Magazine wrote. He had recently signed a deal with Sportfive, a sports marketing company based in Germany that also represents Spanish professional golfer Jon Rahm.
Persons: Jeffrey Guan, ” Guan, , , Guan, Guan’s, Jon Rahm Organizations: Catalina Golf Club, PGA Tour, Australia, Australian Sports Foundation, Sportfive Locations: Australian, New South Wales, Australia, , Canberra, Sydney, California, Germany, Spanish
China has been trying to increase its birth rate after its population declined for a second consecutive year in 2023. The country’s State Council this week detailed 13 measures to build a birth-friendly society to raise the country’s fertility rate. The woman was sent home by the surrogacy agency but then later found out she was pregnant, Shangguan said. Where there is demand, there will be such behavior,” wrote a Weibo user called Xiongzai. Chengdu’s Wuhou District Health Bureau said it attached “great importance” to the surrogacy situation and was investigating the relevant medical institutions.
Persons: Shangguan Zhengyi, Shangguan, Organizations: Weibo, Health Bureau Locations: HONG KONG, Chengdu, China, country’s, Weibo, Chengdu’s Wuhou
SHANGHAI, CHINA - MARCH 01: Skyscrapers stand at the Pudong Lujiazui Financial District on March 1, 2022 in Shanghai, China. Asia-Pacific markets were set to open mixed Friday, after Wall Street benchmarks the Nasdaq Composite and S&P 500 suffered their worst day in nearly two months on downbeat Microsoft earnings forecast and Meta results. Traders await a slate of economic data from the region, including third-quarter producer prices index reading from Australia and Caixin China manufacturing purchasing managers' index for October. Japan's Nikkei 225 appeared set for a softer open, with the futures contract in Chicago at 38,470 and their counterpart in Osaka at 38,370 against the index's last close of 39,081.25. Futures for Hong Kong's Hang Seng index stood at 20,432, pointing to a rebound from its last close at 20,317.33.
Persons: Australia's Organizations: Pudong Lujiazui Financial, Nasdaq, Traders, Japan's Nikkei Locations: SHANGHAI, CHINA, Shanghai, China, Asia, Pacific, Australia, Chicago, Osaka
CNN —A headset worn at home that zaps the brain with the energy of a 9-volt battery could help relieve symptoms of depression, a new study shows. Rebalancing brain activity in depressionThe device is available in the UK, Norway, Hong Kong and countries in the EU. Studies show that people with depression tend to have less brain activity than normal in the dorsolateral prefrontal cortex and more brain activity than normal in the ventromedial prefrontal cortex. A ‘spicy’ sensation with brain benefitsLeana De Hoyos, a 34-year-old mother of two who lives in Houston, was one of the study participants. Helping people use brain stimulation at homeFu says that when her team started looking at transcranial direct current stimulation for depression, they first reviewed the medical literature.
Persons: , Rodrigo Machado, Vieira, Machado, It’s, it’s overactive, Daniel Mansson, Cynthia Fu, Fu, Leana De Hoyos, De Hoyos, didn’t, ” De Hoyos, I’m, you’ve, , , ” Fu, Dr, Sanjay Gupta, “ We’re, Mansson, hasn’t Organizations: CNN, Nature Medicine, Therapeutics, US Food and Drug Administration, Neuroscience, King’s College London, CNN Health, Locations: UTHealth, Norway, Hong Kong, Swedish, United States, Houston, Europe
Hong Kong CNN —China appears to have built a new and unusual aircraft carrier, intriguing experts with a potentially first-of-its-kind vessel that could further increase Beijing’s rapidly expanding maritime power. This potential new aircraft carrier “is of a somewhat unusual shape and size – much smaller than China’s previous naval aircraft carriers,” said Thomas Shugart, a former US Navy submarine commander and now a fellow at the Center for a New American Security. Another view of the satellite imagery captured on October 23, 2024, showing a potentially new class of a Chinese aircraft carrier at a shipyard in the southeastern end of the country. Only the United States Navy operates aircraft carriers bigger than the Fujian. Conducted in the South China Sea, the exercise was “aiming to enhance the integrated combat capability of the aircraft carrier formations” and was “part of the Liaoning aircraft carrier formation’s regular real-combat training in the high seas,” Xinhua said.
Persons: , Thomas Shugart, Shugart, , Beijing’s, Carl Schuster, Schuster, ” Schuster, ” Song Organizations: Hong Kong CNN, Planet Labs, Guangzhou Shipyard, US, Center, New, New American Security, Planet Labs PBC China, People’s Liberation Army Navy, PLAN, supercarriers, United States Navy, Center for Strategic, International Studies, , PLA, Pacific Command’s Joint Intelligence, China Coast Guard, Beijing, Coast Guard, Communist Party, Xinhua, Liaoning, US Navy, Global Times Locations: Hong Kong, China, Guangdong, New American, Fujian, Shandong, Liaoning, Naval, Washington, Shanghai, Beijing, Taiwan, Matsu, South, South China, Xinhua
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Big Tech drags down marketsMajor U.S. indexes slumped on Thursday, weighed down heavily by losses in Big Tech shares. While the company's cloud division missed revenue expectations, it's growing faster than it had in the same period last year. CNBC Pro checked in with Teng again to find out how his picks have performed, and if he has changed his mind on the stocks he's betting on.
Persons: Kevin Teng, Teng Organizations: CNBC, Big Tech, U.S, Japan's Nikkei, CSI, Apple, Amazon, P Global, PMI, Boeing, Wrise Private Singapore Locations: Asia, Pacific, Cupertino, China
SEOUL, South Korea — North Korea test-fired a suspected long-range ballistic missile that is designed to strike the continental United States, its neighbors said Thursday, days before the U.S. presidential election. This would be the first ICBM launch since December for North Korea, a reclusive nuclear-armed state that has been ratcheting up its rhetoric against the U.S. and its allies South Korea and Japan. Japanese Defense Minister Gen Nakatani later said the missile fell into the sea off North Korea’s east coast around 8:37 a.m. He said the launch time of 86 minutes would be the longest ever for a North Korean missile test, and that it could be a new type of missile. North Korea has said the deployment is a “rumor,” while Russian President Vladimir Putin did not deny the reports when asked about them by NBC News last week.
Persons: Gen Nakatani, Sean Savett, , Vladimir Putin, Lloyd Austin, Kim Yong, Austin, Stella Kim, Arata Yamamoto, Jennifer Jett Organizations: U.S, Korea’s, Chiefs, Staff, Japanese, Korean, National Security, United Nations, Pacific Command, South Korea’s Defense Intelligence Agency, Officials, NBC, Defense, Ukrainian Locations: SEOUL, South Korea, North Korea, United States, Japan, Pyongyang, U.S, Korea, Moscow, Russia’s Far, Ukraine, The U.S, Russia, Washington, Korean, Seoul, Oshu City, Hong Kong
“(It) doesn’t matter who it is (that wins),” one social media user wrote in a popular comment on China’s X-like platform Weibo. “There’s no perfect system, but at least they allow people to question them,” one social media user said on Weibo. Both Harris and Trump have been hot topics on Chinese social media platforms. Harris appeared to be relatively unknown to Chinese social media users prior to becoming the Democratic candidate after Biden’s July withdrawal from the race. But Trump is still seen in Beijing’s policy circles as likely to drive a more fractious relationship with China than Harris would.
Persons: Li Shuo, Kamala Harris, Donald Trump, Trump’s, Joe Biden, Xi Jinping, Brendan Smialowski, hashtag, , China’s, , Harris, Trump,  Chuan, “ Trump, can’t, Wu Xinbo, ” Wu, Shi Yinhong, Biden, Vladimir Putin, Wu, Gan Organizations: Hong Kong CNN, CNN, Huawei, Biden, Economic Cooperation, Getty, China Daily, Xinhua, Weibo, American, Communist Party, Democratic, Washington, Center for American Studies, Shanghai’s Fudan University, Renmin University Locations: China, Hong Kong, Beijing, Taiwan, Asia, California, AFP, Weibo, Liberty, United States, US, Europe, Ukraine –, Russia, Shanghai
OSHU CITY, Japan — In Oshu, the small rural town where Shohei Ohtani grew up, baseball is as much a part of the landscape as the farmers’ fields and low-rise hills surrounding it. As they watched Game 4, which aired at 9 a.m. Wednesday morning in Japan, Yasuo Sakamoto, 74, and his wife Keiko, 70, wore the Dodgers jerseys and hats they got when they visited Los Angeles this summer to see Ohtani play. “Even at my age, I’m really awed by him,” Yasuo Sakamoto said of Ohtani. “In Japan when there’s news about Ohtani, it’s bright news. The two teams will play Game 5 in the best-of-seven series at Yankee Stadium on Wednesday — and Japan will be watching.
Persons: Ohtani, Ohtani’s, Yasuo Sakamoto, Keiko, I’m, ” Yasuo Sakamoto, it’s, “ They’re, , superfan Hironobu Kanno Organizations: CITY, Ohtani, Los Angeles Dodgers, New York Yankees, Dodgers, Yankees, Yankee, League, National League MVP, Major League Baseball Locations: Japan, Oshu, Los Angeles, , Japan’s Iwake
I can offer some firsthand observations on Caroline's state of mind in the immediate aftermath of the FTX collapse. But in that conversation, she just could not stop crying, saying multiple times that she "knew". At that point, she set up a makeshift home office and started having multiple calls with the new FTX management. At times, this strength of hers has been critical to our family, especially my wife, as Caroline has helped reassure us. Although Caroline would have liked to have had more success in her post-collapse job search, she has enjoyed the volunteer activities she's
Persons: Sam, they'd, Caroline, she'd Locations: FTX, Bahamas, Alameda, Hong Kong
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