DIRS.INFO The most relevant business & tech news

☆ Tourists are still not returning to China and that's not good for anybody
▼ + stars: | 2023-09-26 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

International tourism to China is still well below pre-pandemic levels. Tourism is one of several economic woes in China that could spill over into the global economy. Now add another problem — China's tourism industry is struggling to recover from the pandemic. AdvertisementAdvertisementThe China Tourism Association noted in May that "the number of visitors from Europe, America, Japan and Korea are all dropping, substantially," The Japan Times reported. China's problems could spill over into the global economyTrouble for China's economy could mean more bad news for the rest of the world.

Persons: —, Fan Lei, Taylor, Grace Smith, Janet Yellen, Joe Biden, Tourism hasn't, They're Organizations: Tourism, Service, Street Journal, China Tourism Association, Japan Times, Tourists, Forbidden, US State Department, CNN, China Morning, MediaNews, Denver Locations: China, Ukraine, Europe, America, Japan, Korea, Forbidden City, Denver

Usually when a meeting of the Federal Reserve is on the week’s calendar, economists and market strategists focus on the decision to come. Fed Chairman Jerome Powell has all but said policymakers would be on hold for this meeting as they digest recent economic data and consider the effects that 11 interest rate hikes have had on the economy. But the Fed will issue a new set of economic forecasts and projections about where interest rates will be over the remaining months of 2023 and in 2024, along with the unemployment rate. However, the LEI has been flashing a recession signal now for many months. “While the LEI continues to signal recession, incoming data show a resilient economy,” said Sam Bullard, managing director and senior economist at Wells Fargo’s corporate and investment unit.

Persons: Jerome Powell, Powell, ” Steve Wyett, Wyett, LEI, ”, Sam Bullard, ” Bullard Organizations: Federal, BOK Financial, Wells, Congress Locations: U.S

☆ A 'rolling recession' in the US could morph into a full-blown slump - and the Fed's unlikely to slash interest rates in 2024, top strategist says
▼ + stars: | 2023-09-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The US economy is in a "rolling recession" and a full-blown downturn looms, Liz Ann Sonders says. Charles Schwab's chief investment strategist doesn't expect a bunch of interest—rate cuts in 2024. "The leading indicators have absolutely imploded," Liz Ann Sonders, the chief investment strategist at Charles Schwab, said during a recent episode of "The Meb Faber Show." "We've never seen this kind of deterioration in leading indicators" outside of an ongoing recession, she added. Sonders was referring to The Conference Board's Leading Economic Indicators (LEI), which fell for a 16th straight month in July.

Persons: Liz Ann Sonders, Charles Schwab's, doesn't, Charles Schwab, Faber, We've, Sonders, that's, it's Organizations: Service, shouldn't, Conference, Federal Reserve, Avatar Associates Locations: Wall, Silicon

☆ What China slowdown? Three Chinese companies making big money globally
▼ + stars: | 2023-09-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

More Chinese companies are becoming global players. In all, BYD, state-owned SAIC and other Chinese companies gained 9% of the global electric car market in the second quarter, up from 5% in the second quarter, Counterpoint Research said. That's on top of the companies' share in the domestic Chinese market — the largest globally for autos. For the full year, XCMG has an export sales growth target of 50% growth, UBS stock analyst Phyllis Wang and a team said in a Sept. 4 note. Chinese companies have been trying to "go global" for years, with tacit encouragement from Beijing.

Persons: Lei Meng, That's, Xiao Feng, BYD, UBS's Meng, XCMG, Phyllis Wang, Mingyang, JPMorgan's Helen Zhu, — CNBC's Michael Bloom Organizations: Car, UBS Securities, China Equity, SAIC, Research, Hong, Toyota, General Motors, Britannica ., Xuzhou Construction Machinery, Central, UBS, Beijing ., JPMorgan Locations: Hong Kong, Britannica, China, Shenzhen, Xuzhou, West Asia, North Africa, Central America, Europe, Central Asia, North America, Beijing, Beijing . State, Shanghai

☆ Australian PM to visit China this year after 'progress' on ties
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

[1/2] Australian Prime Minister Anthony Albanese along with the Australian Foreign Minister Penny Wong smile during the 43rd ASEAN Summit in Jakarta, Indonesia, September 6, 2023. REUTERS/Willy Kurniawan/Pool Acquire Licensing RightsSYDNEY, Sept 7 (Reuters) - Australia and China have made progress in returning to "unimpeded trade" but more progress is needed, Australian Prime Minister Anthony Albanese said on Thursday as he met Chinese Premier Li Qiang at a regional summit in Indonesia. "The progress we have made in resuming unimpeded trade is good for both countries and we want to see that progress continue," Albanese said in his opening comments at the meeting. Li said he welcomed Albanese to visit China this year, and Albanese said he would. "I look forward to visiting China later this year to mark the 50th anniversary of Prime Minister Whitlam’s historic visit," Albanese said in a statement after the meeting, referring to the first visit to communist China by an Australian leader, then prime minister Gough Whitlam, in 1973.

Persons: Anthony Albanese, Penny Wong, Willy Kurniawan, Li Qiang, Albanese, Li, Whitlam’s, " Albanese, Gough Whitlam, Cheng Lei, Yang Hengjun, Kirsty Needham, Robert Birsel Organizations: Australian, Australian Foreign, ASEAN Summit, REUTERS, Rights, Thomson Locations: Jakarta, Indonesia, Australia, China

TAIPEI, Taiwan (AP) — Australia and China opened their first high-level dialogue in three years Thursday in a sign of a slight thaw to relations between countries that have clashed on everything from human rights to COVID-19 origins to trade. Australia's current Foreign Minister Penny Wong has sought to stabilize the two countries' relationship since her party won elections last year. China's and Australia’s relations sank to low depths during the pandemic. In response, China effectively blocked out Australian barley in 2020 by imposing an 80.5% tariff, widely regarded in Australia as punishment. “We continue to advocate for positive progress on the cases of Australians detained in China,” Emerson said.

Persons: ”, Craig Emerson, Li Zhaoxing, Penny Wong, Anthony Albanese, China's Premier Li Qiang, “, Premier Li, ” Albanese, Xi Jinping, Cheng Lei, ” Emerson Organizations: —, Australian, U.S, Australia's, China's Premier, Association of Southeast, Nations, Huawei Locations: TAIPEI, Taiwan, — Australia, China, Beijing, U.S, Australia, United Kingdom, Indonesia, Asia, asia

☆ Russia dominated the first space race, but now it can't even land on the moon. Photos show the US and China are way ahead.
▼ + stars: | 2023-09-02 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +9 min

China, Russia, and the US (with its international allies) are all plotting huge new moonshots. Photos of the space efforts of the US, China, and Russia reveal how far behind the former space power has fallen. AdvertisementAdvertisementThe US and China are innovating, while Russia's space tech agesNASA's Space Launch System rocket with the Orion spacecraft aboard, at the Kennedy Space Center in Florida. Berger cited other underlying issues that are stifling Russia's space ambitions, like budget cuts, quality control, and corruption. Western sanctions have harmed Russia's space program in other ways, limiting its access to high-quality microchips, the AP reported.

Persons: Artemis, Russia isn't, hasn't, Russia's Luna, Bill Nelson, Luna, NASA’s, —, Tingshu Wang, Sergei Markov, Russia's, Steve Seipel, Yuri Borisov, Borisov, Bill Ingalls, Eric Berger, Vladimir Putin's, Berger, Xue Lei, landers, Roscosmos, Victoria Samson Organizations: Service, NASA, AP, Soviet Union, Operation, Space Corporation, Politico, New York Times, China National Space Administration, Vostochny, Luna, NASA’s Goddard Space Flight, Arizona State University NASA, Orion, NASA NASA, SpaceX, National Museum, Reuters, Kremlin, Kennedy Space Center, CNN, Russian Soyuz, Baikonur, Future Publishing, Getty, European Space Agency, ESA, Secure, Foundation Locations: Wall, Silicon, China, Russia, Soviet, Soviet Union, China National Space Administration Russia, Russia's Far, India, Russian, Beijing, Ukraine, Florida, Kazakhstan, Washington

CNN —A Chinese-Australian writer who has been detained in China for more than four years said he fears he could die in jail, after a large cyst was found on his kidney. Yang Hengjun, an Australian citizen and democracy activist, was detained in 2019 during a visit to see family in China and charged with espionage – accusations Yang has denied. “Yang Hengjun has been subjected to arbitrary detention in China by Chinese secret police for more than four years and his life is in danger,” he said. Yang is one of two Australians currently detained in China. Cheng Lei, an Australian TV anchor who worked for China’s state broadcaster CGTN, is accused of illegally supplying state secret overseas and has been detained for three years.

Persons: Yang Hengjun, Yang, ” Yang, Feng Chongyi, “ Yang Hengjun, ”, “, ’, Anthony Albanese, Xi Jinping, ” Albanese, Cheng Lei Organizations: CNN, University of Technology, Australian, Group, Chinese Foreign Ministry, CGTN Locations: Australian, China, Beijing, won’t, Sydney, New Delhi, United States

☆ Exclusive: China's Xiaomi wins state planner nod to make EVs amid glut in autos
▼ + stars: | 2023-08-23 | by ( Julie Zhu | ) www.reuters.com time to read: +4 min

A man walks past a logo of Xiaomi, a Chinese manufacturer of consumer electronics, outside a shop in Mumbai, India, May 11, 2022. Xiaomi, which owns the world's third largest smartphone brand by shipments, did not immediately respond to a request for comment. Xiaomi plans to produce about 100,000 EVs next year, said one of the sources. But Xiaomi, which reported an 18.9% drop in its latest quarterly revenue in May, has its own compulsions for foraying into EVs. Xiaomi plans to use the thousands of stores it has as showrooms for its electric cars, Reuters previously reported.

Persons: Francis Mascarenhas, HONG KONG, Xiaomi, Tesla, NDRC, MIIT, Lei Jun, Julie Zhu, Muralikumar Organizations: REUTERS, Xiaomi Corp, HK, National Development, Reform Commission, EV, Ministry of Industry, Reuters, Lucid, Beijing Daily, China Passenger Car Association, Thomson Locations: Mumbai, India, HONG, Beijing, Shanghai, Reuters U.S, China, China ., EVs

☆ JPM warns of higher risk for Chinese REITs after Country Garden's troubles
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 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 PhotoAug 14 (Reuters) - Brokerage J.P.Morgan warned on Monday an estimated 2.8 trillion yuan ($385.78 billion) worth of assets under the management of Chinese real estate investment trusts (REITs) face higher risk following the debt payment delays by Country Garden (2007.HK). Country Garden, China's largest private developer, is seeking to delay payment on a private onshore bond for the first time after suspending trading in 11 onshore bonds. More broadly, rising trust defaults would drag economic growth by 0.3-0.4 percentage points directly, JPM warned. ($1 = 7.2581 Chinese yuan renminbi)Reporting by Roshan Abraham in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, J.P.Morgan, Katherine Lei, Lei, JPM, Roshan Abraham, Varun Organizations: Shanghai Country Garden, REUTERS, Country Garden, HK, Monday's, Thomson Locations: Shanghai, China, Bengaluru

☆ China's Country Garden woes raise fears of REIT defaults - J.P.Morgan
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 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 PhotoAug 14 (Reuters) - Turmoil at China's largest private developer Country Garden could set off a "vicious cycle" of financing stress on the country's real estate investment trusts (REITs), brokerage J.P. Morgan warned on Monday. These fresh worries come as Country Garden sought to delay payment on a private onshore bond for the first time and suspended trading in 11 onshore bonds. "The default events may lead to a chain reaction on developer financing, adding stress to POE (privately owned enterprise) developers and their creditors." Rising trust defaults would drag economic growth by 0.3-0.4 percentage points directly, J.P.Morgan warned.

Persons: Aly, Morgan, Katherine Lei, POE, J.P.Morgan, Nomura, Roshan Abraham, Susan Mathew, Danilo Masoni, Varun, Arun Koyyur Organizations: Shanghai Country Garden, REUTERS, China's, Zhongzhi Enterprise Group, Zhongrong, China Evergrande, Thomson Locations: Shanghai, China, HK, Beijing, Bengaluru, Milan

☆ A former BlackRock stock chief shares 3 indicators that tell him it's too early to abandon his recession call despite the economy's strength — and warns the stock market's rally is doomed for a revers
▼ + stars: | 2023-08-12 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

The inverted yield curve and The Conference Board's LEI are two indicators that inform his view. Instead, investors should be paying attention to indicators like the Treasury yield curve, The Conference Board's Leading Economic Index, and money growth. Here's the yield curve. And the start of a recession typically comes a bunch of of months after the yield curve inverts. The yield curve didn't invert until less than a year ago.

Persons: Bob Doll, LEI, Doll, Wall, — Bank of America's Michael Gapen, Michael Feroli —, we're, Louis, It's, Rosenberg Research's David Rosenberg, Piper Sandler's Michael Kantrowitz, Greg Boutle, Tom Lee Organizations: Federal Reserve, — Bank of America's, Crossmark Global Investments, BlackRock, Conference, Federal Reserve Bank of St, Fed, Louis Investors, Deutsche Bank, Bloomberg, BNP, Institute for Supply, Institute for Supply Management, of Labor Statistics Locations: Wells

CNN —Australian TV anchor Cheng Lei, who will have spent three years in detention in China as of Sunday, said in a rare message that she misses her family and life in Australia. Coyle told CNN the message had been dictated to diplomatic officers and shared with him. “I can’t believe I used to avoid the sun when I was living back in Australia,” Cheng’s message said. In her letter released Thursday, Cheng spoke fondly of her life in Australia, writing “I miss the Australian people.”“I remember camping for the first time with my family,” she writes. Coyle told CNN that he is only able to hear from Cheng after her consular visits, which happen once a month.

Persons: Cheng Lei, “, ”, Nick Coyle, FreeChengLei, Coyle, Cheng, ” Cheng, CGTN, ” Coyle Organizations: CNN, China’s Ministry of State Security, Australian Locations: China, Australia

☆ Australian journalist held in China writes 'love letter' home
▼ + stars: | 2023-08-10 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

[1/3] Australian journalist Cheng Lei poses for a selfie at an unknown location in this undated handout photograph obtained by Reuters on August 11, 2023. Nicholas Coyle/Handout via REUTERSSYDNEY, Aug 11 (Reuters) - Australian journalist Cheng Lei, detained in China on national security charges, has described how standing in sunlight for just 10 hours a year feels in a "love letter" to her country. Her first public statement since her arrest came in what she called a "love letter to 25 million people" which was dictated to consular staff during a visit and released by her partner. The Australian government has repeatedly raised concerns about her detention, which came as China widened blocks on Australian exports amid a diplomatic dispute that is gradually easing. Albanese on Sunday said the barley decision was positive, but he wanted "other impediments to be removed ... included in that, the detention of the Australians, including Cheng Lei".

Persons: Cheng Lei, Nicholas Coyle, Handout, Cheng, I've, Anthony Albanese, Albanese, Nick Coyle, Lei, Coyle, Penny Wong, Ms Cheng, Wong, Kirsty Needham, John Stonestreet, Stephen Coates Organizations: Reuters, REUTERS SYDNEY, Sunday, China - Australia Business Council, Thomson Locations: Australian, China, Beijing, Canberra, Australia

☆ These 5 bearish arguments have yet to derail the stock market rally
▼ + stars: | 2023-08-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

There are five major bearish arguments for an imminent recession and a falling stock market. Here's why each of the bearish arguments have yet to put a dent in the stock market rally. According to Wednesday note from market veteran Ed Yardeni, all of the bearish arguments supporting a stock market sell-off and eventual recession have fallen flat, and that means there could be more gains ahead. These are the five bearish arguments for the stock market, and why they haven't yet derailed the current rally, according to Yardeni. "This conclusion is confirmed by Fed data on the ownership of deposits plus money market funds by generation cohorts."

Persons: Ed Yardeni, Yardeni, LEI, That's Organizations: Service, Nasdaq, ATA, Fed Locations: Wall, Silicon, Yardeni

☆ The genius plan that could bring down skyrocketing home prices
▼ + stars: | 2023-08-07 | by ( Eliza Relman | ) www.businessinsider.com time to read: +15 min

Not only did this help to slow down skyrocketing housing costs, it inspired a bipartisan, nationwide expansion of the policy. Home prices in Auckland, New Zealand's biggest city, doubled between 2009 and 2016 and prices across the rest of the country followed close behind. "A typical New Zealand city looks a lot like a typical US city," Gray said. There are three models of housing construction in US cities right now, Gray said. "In terms of an overall objective, I think bringing down house prices to construction costs is an ultimate sign of housing abundance."

Persons: Upzoning, Jenny Schuetz, Matthew Maltman, who's, Ryan Greenaway, Guo Lei, Maltman, There's, Auckland's upzoning, Vicki Been, Bill de Blasio, Schuetz, Nolan Gray, Gray, let's, Brett Coomer, that's, Allison Zaucha, Freemark, we're, Emily Hamilton, Eliza Relman Organizations: Brookings Institute, Auckland, Economic, University of Auckland, New, National Party, Housing, Economic Development, New Zealand, California YIMBY, Urban Institute, Houston, Montana Republicans, George Mason University Locations: New Zealand, Auckland, Australian, Zealand, Auckland , New, New Zealand's, New York, Europe, California, Zealanders, San Francisco, Los Angeles, Phoenix, Houston, Atlanta, Denver, Seattle, Washington, Portland , Oregon, Montana, California . Utah, Minneapolis, New York City

☆ Stock-market investors rarely see a recession coming despite warning signals. As all the classic alarm bells ring again, this time is no different, experts say — setting investors up to get crushed.
▼ + stars: | 2023-08-05 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

The S&P 500 has rallied 17% year-to-date, but the Treasury yield curve and LEI point to a downturn. For Rosenberg, the difference is that we currently have an inverted yield curve, a recession signal that has preceded every downturn since the 1960s. An inverted yield curve means that rates on short-duration Treasurys rise higher than rates on long-duration Treasurys. The yield curve inverts often during Fed hiking cycles because short-term Treasury rates track closely along with the fed funds rate. The below chart shows the share of consecutive trading days where the yield curve has been inverted.

Persons: Piper Sandler's Michael Kantrowitz, David Rosenberg, Rosenberg, —, Here's Lacy Hunt, here's Rosenberg, Piper Sandler, Piper Sandler Kantrowitz, Kantrowitz Organizations: Rosenberg Research, Federal, Hoisington Investment Management Company, of Labor Statistics

China's Ministry of State Security on Tuesday said China should encourage its citizens to join counter-espionage work, including creating channels for individuals to report suspicious activity and rewarding them for doing do. A system that makes it "normal" for regular people to participate in counter-espionage should be established, the ministry said. That followed an expansion of China's counter-espionage law that took effect in July and bans the transfer of information it sees as related to national security. It has alarmed the United States, which has warned that foreign companies in China could be punished for regular business activities. China's declaration that it is under threat from spies comes as Western nations, most prominently the United States, accuse China of espionage and cyberattacks, a charge that Beijing has rejected.

Persons: Janet Yellen, Mark Schiefelbein, Matt Miller, Cheng Lei, Daphne Psaledakis, Humeyra Pamuk, Mark Porter, Rosalba O'Brien Organizations: China's Ministry of State Security, Astellas Pharma, Thomson Locations: United States, Diaoyutai, Beijing, China

☆ China wants to mobilise entire nation in counter-espionage
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Aug 1 (Reuters) - China should encourage its citizens to join counter-espionage work, including creating channels for individuals to report suspicious activity as well as commending and rewarding them, the state security ministry said on Tuesday. Australian journalist Cheng Lei, accused by China for providing state secrets to another country, has been detained since September 2020. China's declaration that it is under threat from spies comes as Western nations, most prominently the United States, accuse China of espionage and cyberattacks, a charge that Beijing has rejected. The United States itself is the "empire of hacking," a Chinese foreign ministry spokesperson has said. In protecting itself from espionage, China would need the participation of its people in building a defence line, the state security ministry wrote in its WeChat post.

Persons: State Security Chen Yixin, Chen, Cheng Lei, Ryan Woo, Raju Gopalakrishnan Organizations: of State Security, State Security, Communist Party of China, Astellas Pharma, Thomson Locations: BEIJING, China, United States, Beijing

☆ Europe’s listless IPOs are red flag for big floats
▼ + stars: | 2023-07-31 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +4 min

And so far, the performance of the floats that have got away has been relatively poor. It’s a major red flag for larger IPO candidates, like CVC Capital Partners or EQT’s (EQTAB.ST) Galderma. Only 65 companies decided to brave choppy stock markets in Europe, raising $6.6 billion in overall proceeds, according to Dealogic data. Italian betting group Lottomatica (LTMC.MI) and German web-hosting company IONOS (IOSn.DE) priced at the bottom of their initial ranges. Dealogic data shows that IPOs in the region raised a total of $6.6 billion between the start of 2023 and July 20.

Persons: Breakingviews, Thyssenkrupp, Nucera, Hidroelectrica, Liam Proud, Oliver Taslic Organizations: Reuters, Capital Partners, underwriters, Bankers, Swiss, Reuters Graphics Reuters, Thomson Locations: Europe, Romanian, Saudi, Swedish

☆ China's tech crackdown cost over $1 trillion. But the economy is in such deep trouble that the country's cozying up to its tech firms again.
▼ + stars: | 2023-07-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China's tech crackdown wiped $1.1 trillion off the valuation of its Big Tech firms. China's economy is struggling to recover after three years of on-off COVID-19 lockdowns. China cracked down on the country's tech sector in 2020, taking down its Big Tech, whose market value has been wiped by $1.1 trillion. But now, authorities are laying out the red carpet for the same firms because the economy is in deep trouble. Local governments in China are wooing tech giants with at least five recent deals to build on the so-called "platform economy," the South China Morning Post reported on Sunday.

Persons: NetEase, Yin Li, Kuaishou, Yin Yong, Daniel Zhang, Lei Jun, Alibaba, Jack Ma Organizations: Big Tech, Morning, China Morning Post, Sunday, Communist Party Locations: China, Beijing, Hangzhou, Tianjin, Shenzhen

☆ Global automakers scramble to reset China strategies as sales slow
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +6 min

Global automakers, who for years have dominated the market along with their Chinese state-run partners, have been slow to pivot to the fast-growing market for EVs with competitive offerings. "This major collaboration between Volkswagen and Xpeng is a milestone for our electrification strategy 'in China for China'," said Ralf Brandstatter, a VW board member on his social media account. Their deeper pockets give established foreign automakers who are determined to fight for share in China, the ability to play a long game. Kia (000270.KS) is to enter China's EV market with its first EV, the EV6 crossover, via imports in August. "The German brands benefit from significant global scale," said He Lei, CEO of Chinese EV trading platform xChuxing.

Persons: Aly, Yale Zhang, Ralf Brandstatter, We've, Mary Barra, Tu Le, Yang Honghai, Kia, Mercedes Benz, Volkswagen's Audi, Lei, It's, Bill Russo, Automobility, Zhang Yan, Brenda Goh, Kevin Krolicki Organizations: Audi, Volkswagen, Auto, REUTERS, General Motors, Toyota, China Association of Automobile Manufacturers, Global, BMW, Mitsubishi, Automotive Foresight, GM, Reuters Graphics Volkswagen, BYD, China's Xpeng, HK, SAIC, VW, Buick, Chevrolet, Cadillac, CHINA EV INC, Tesla, China EV Inc, Volkswagen's, EV, Mitsubishi Motors, Nissan, Ford, Renault, Thomson Locations: Auto Shanghai, Shanghai, China, SHANGHAI, CHINA, Kia China, KS

“I don’t necessarily need a higher paid job or a better life,” she added. College graduates looking for jobs at a fair in central China's Hubei province on July 20. A growing trendOn Douban, about 4,000 members of a group called “full-time children’s work communication center” discuss topics related to their daily “working” lives. By contrast, today’s “professional” children spend time with parents and do housework in exchange for financial support. In addition to her family duties, she’s busy applying for government jobs and taking exams for graduate school.

Persons: Litsky Li, Li, ”, “, headwinds, Zhang Dandan, ” hashtag, somethings, today’s, ’, Fang Xu, Nancy Chen, she’s, Chen, hasn’t, It’s, George Magnus, Magnus Organizations: Hong Kong CNN, College, CNN, Peking University, University of California, China News Service, Harvard University, China Centre, Oxford University, SOAS University of London Locations: Hong Kong, Luoyang, China's Hubei, Beijing, ”, China, University of California Berkeley, Jiangxi, Wanshou, China's Jiangxi

☆ China's earnings season is just getting started. Here are some winners to watch
▼ + stars: | 2023-07-23 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Their screen found that home appliances, media and software sectors were among those that fit the bill. When it comes to individual stocks, HSBC looked for names where their estimates were most above the consensus. Top on the list is software company 360 Security, which HSBC's earnings estimate for the year is double the consensus. Baosight, another software company, also made the top 10, as did home appliance company Sanhua. But not all software stocks made the cut.

Persons: Price, That's, Ding Wenjie, There's, Ant, Didi, Ding, Goldman Sachs, Lei Meng, Meng, Steven Sun, iFlytek Organizations: HSBC, That's, China Asset Management, CNBC, Alibaba, UBS Securities China Equity, CSI, HSBC Qianhai Securities Locations: China, Beijing, Shanghai, Shenzhen

☆ U.S. leading indicators point to recession starting soon
▼ + stars: | 2023-07-20 | by ( Safiyah Riddle | ) www.reuters.com time to read: +1 min

The Conference Board on Thursday said its Leading Economic Index, a measure that anticipates future economic activity, declined by 0.7% in June to 106.1 following a revised decrease of 0.6% in May. “Taken together, June’s data suggests economic activity will continue to decelerate in the months ahead,” Justyna Zabinska-La Monica, senior manager of business cycle indicators at The Conference Board, said in a statement. The Conference Board reiterated its forecast that the U.S. economy is likely to be in recession from the current third quarter to the first quarter of 2024. "Elevated prices, tighter monetary policy, harder-to-get credit, and reduced government spending are poised to dampen economic growth further," Zabinska-La Monica said. The Conference Board said the contraction in the LEI is accelerating, falling 4.2% over the last six months compared to 3.8% between June and December 2022.

Persons: ” Justyna, Monica, Safiyah Riddle, Andrea Ricci Organizations: The Conference, Board, Thomson Locations: U.S

Search resuls for: "Lei"

25 mentions found