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☆ Chinese EV upstart Nio plans to cut workforce by a tenth
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

The logo of NIO seen on an EL6 car model is pictured at the NIO House, the showroom of the Chinese premium smart electric vehicle manufacture NIO Inc. in Berlin, Germany August 17, 2023. Nio has told staff the reduction exercise would be completed in November, it said in a statement to Reuters. "We still have a gap between our overall performance and expectations," it told staff in an email, adding that it needed to improve efficiency and ensure adequate resources. Apart from the layoffs, Nio said it would defer or cut long-term project investments that would not contribute to financial performance within three years. Reporting by Zhang Yan, Qiaoyi Li and Brenda Goh Editing by Tomasz Janowski and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Annegret, Nio, Li Auto, BYD, Tesla, Zhang Yan, Qiaoyi Li, Brenda Goh, Tomasz Janowski, Clarence Fernandez Organizations: REUTERS, Rights, HK, EVs, Reuters, U.S, China's EV, Thomson Locations: Berlin, Germany, Rights SHANGHAI, BEIJING, China, China's, Europe

China's delegate to the meeting, Vice Minister of Science and Technology Wu Zhaohui, was present on Thursday, his ministry said on Friday. The Chinese technology ministry declined to say why China did not agree to the proposal, which was about AI model testing. British Prime Minister Rishi Sunak chaired Thursday's meeting that comprised "a small group of like-minded senior representatives from governments around the world", Britain said, including the U.S. vice president and the EC president. Some British lawmakers had criticised China's participation in the inaugural AI summit. Sunak told reporters: "Some said we shouldn't even invite China, others said we would never get an agreement with them.

Persons: Ursula von der Leyen, Kamala Harris, Rishi Sunak, Giorgia Meloni, Antonio Guterres, Yoshua Bengio, Mila, Microsoft Brad, Technology Wu Zhaohui, Wu, Oliver Dowden, Sunak, Paul Sandle, Brenda Goh, Alistair Smout, Cynthia Osterman Organizations: Italy's, UN, Quebec AI Institute, Microsoft, Safety, Science, Technology, Bloomberg, U.S, European Union, Thomson Locations: British, SHANGHAI, LONDON, China, Britain, Beijing, Bletchley Park, England, United States, Bletchley, London, Shanghai

☆ China warms to U.S. chipmaker Micron, as tensions with Washington ease
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

The company logo is seen on the Micron Technology Inc. offices in Shanghai, China May 25, 2023. "We welcome Micron Technology to continue to take root in the Chinese market and achieve better development under the premise of complying with Chinese laws and regulations," Wang added. The detente comes just months after China's cyberspace regulator said Micron had failed a network security review and barred Chinese operators of key infrastructure from buying from the largest U.S. memory chipmaker. China's move against Micron was widely seen as retaliation for Washington's efforts to restrict Beijing's access to key technology. Reporting by Beijing newsroom; Editing by Sonali Paul and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Wang Wentao, Sanjay Mehrotra, Wang, China's, Joe Biden, Xi Jinping, Sonali Paul, Lincoln Organizations: Micron Technology Inc, REUTERS, Rights, Micron Technology, Commerce, Micron, Economic Cooperation, Beijing, Thomson Locations: Shanghai, China, Rights BEIJING, Beijing, Washington, Asia, San Francisco

☆ Did the same collision that formed the moon create mysterious blobs inside Earth?
▼ + stars: | 2023-11-03 | by ( Jackie Wattles | ) edition.cnn.com time to read: +7 min

The theory, called the giant-impact hypothesis, explains many fundamental features of the moon and Earth. And many scientists assumed any debris Theia left behind on Earth was blended in the fiery cauldron of our planet’s interior. They were already aware that there are two massive, distinct blobs that are embedded deep within the Earth. That’s when he learned new details about Theia, the mysterious projectile that presumably struck Earth billions of years ago. And, as a trained geophysicist, he knew of those mysterious blobs hidden in Earth’s mantle.

Persons: Qian Yuan, Yuan, ” Yuan, Hernán, ”, Steve Desch, it’s, wouldn’t, Desch, “, Dr, Seth Jacobson, —, Jacobson, Theia, ” Jacobson Organizations: CNN —, California Institute of Technology, Arizona State University, Arizona State’s School of Earth, Exploration, Arizona State, Caltech, NASA’s Ames Research Center, Michigan State University Locations: Africa, Arizona, Shanghai

A woman looks at a new iPhone 15 Pro and a Huawei Mate 60 Pro as Apple's new iPhone 15 officially goes on sale across China, at an Apple store in Shanghai, China September 22, 2023. Research firm Canalys estimated that overall smartphone sales in China fell 3% in July-September from a year earlier as consumers bought fewer smartphones as an economic recovery was choppy. On the other hand, analysts estimate that Huawei's China smartphone sales grew strongly in the quarter. Apple said on Thursday that its overall sales in China dipped 2.5% but it blamed tough Mac computer and iPad sales for that. Aggressive discounting on the iPhone 15 series in the run up to the annual Singles Day shopping festival by major Chinese online retailers is also encouraging demand.

Persons: Aly, Tim Cook, Apple, Cook, Canalys, Apple's, Huawei's, Yuvraj Malik, Bengaluru ， Stephen Nellis, Yelin, Arsheeya Bajwa, Harshita Varghese, Sayantani Ghosh, Gerry Doyle Organizations: Huawei, Apple, REUTERS, Huawei Technologies, Reuters, Research, HK, Taobao, Pro Max, Qualcomm, Thomson Locations: China, Shanghai, Bengaluru ，, San Francisco, Yelin Mo, Beijing, Bengaluru

In the wake of Matthew Perry's death at 54, fans in China are mourning the loss of the star who felt less like a distant celebrity and more like an old friend. “People shared their own memories about Chandler and ‘Friends’ and many teared up.”A large poster displayed on the bar featured pictures of Perry over the years. Once Chinese fans added Mandarin subtitles to the show, which ran in the U.S. from 1994 to 2004, it quickly gained a following. “This TV show actually offered a way to imagine this kind of so-called metropolitan utopian imagination.”Many Chinese fans learned English through watching the show and got a peek into American life and culture. “It feels like I just got to know this long-lost friend, but he’s just gone.”___Fu Ting reported from Washington.

Persons: Long, ”, Matthew Perry's, Chandler Bing, Nie Yanxia, Chandler, Perry, Xian Wang, ” wasn't, China —, Wang, ” Wang, Nilufar Arkin, Monica, “, ” Arkin, ” Fu Xueying, ” Fu, Zhang Fengguang, Sun Tiantian, Zhang, Sun, ” Zhang, he’s, Fu Ting, Han Guan Ng Organizations: University of Notre Dame, Associated Press Locations: China, Shenzhen, Hong Kong, Los Angeles, Sohu, U.S, Shanghai, Tianjin, Xinjiang, Guangzhou, Washington

REUTERS/Andrew Galbraith/File Photo Acquire Licensing RightsSHANGHAI, Nov 3 (Reuters) - The European Union Chamber of Commerce on Friday criticised an upcoming trade fair in China as being more of a "political showcase" than about doing business and pushed for more tangible measures to restore confidence among European companies. "It's more a government affairs event, more a marketing event and there's been really little said on business. You can say CIIE has become more of a political showcase rather than a business event," Carlo D'Andrea, the chamber's vice president, told reporters at a briefing in Shanghai. "European businesses are becoming disillusioned as symbolic gestures take the place of tangible results needed to restore business confidence," he said. The European Union's top diplomat, Josep Borrell, visited last month, as have several other top EU officials in recent months.

Persons: Xi Jinping, Andrew Galbraith, Li Qiang, Anthony Albanese, there's, Carlo D'Andrea, Josep Borrell, Brenda Goh, Sonali Paul Organizations: China, REUTERS, Rights, European Union Chamber of Commerce, Australian, European Union, Micron, Nestle, Burberry, Thomson Locations: Shanghai, China, Europe, EU

☆ This city never slept. Now with China tightening its grip, is the party over?
▼ + stars: | 2023-11-03 | by ( Chris Lau | ) edition.cnn.com time to read: +16 min

China’s message at the time was that even if change was coming to Hong Kong, its spirit of “anything goes” would be staying put. People gather outside a restaurant on a near-empty street in the Soho area of Hong Kong. Officials say they were “fluorescent.”A Hong Kong government spokesman told CNN this week that the activities were “well-received by local residents and tourists”. Under Hong Kong’s pandemic restrictions, live music was all but banned in small venues for more than 650 days. Months before the virus emerged, China had been tightening its grip on Hong Kong in response to pro-democracy protests that had spread throughout the city.

Persons: Hong Kong, Boy George, Grace Jones, Pete Tong, Paul Oakenfold, China’s, Deng Xiaoping, China –, Deng, Deng’s, –, Noemi Cassanelli, Hong, John Lee, “, ”, Gary Ng, Covid, Benson Wong, Wong, Lan Kwai Fong, Cassanelli, Hong Kongers, Kongers, Ng, Yan Wai, ” Yan, hasn’t, Billy H.C, Kwok, Richard Feldman, Feldman, Becky Lam, ” Lam, “ They’ll, ” Feldman, Kwai Fong, Marco Chan, Chan, ” Allan Zeman, Allan Zeman, Lan, CNN “ They’ll, they’ll, Lam, Hong Kong’s Organizations: Hong Kong CNN, East, West, Britain, Occupy Central, National Security, Michelin, CNN, Hong, Tai Hang, National, Hong Kong Wine, HKSAR, Immigration Department, Chinese University of Hong, Soho Association, Netflix, “, Lan Kwai Fong Group, Hong Kong, Shady Locations: China, Hong Kong, Asia, Hong, Soho, Japan, Singapore, Tai, Thailand, Lan Kwai, expats, Britain, Canada, Australia, Natixis, Chinese University of Hong Kong, Lan, revelers, California, Central, Shenzhen, Hong Kong’s Central, Bangkok, Shanghai, Taipei, Petticoat

HONG KONG (AP) — Asian shares advanced on Friday after Wall Street roared higher on bets that market-rattling interest rate hikes are coming to an end. On Wall Street, the S&P 500 leaped 1.9% Thursday to 4,317.78 for its fourth straight winning day. Starbucks jumped 9.5% after reporting stronger profit and revenue for the latest quarter than Wall Street forecast. On the losing end of Wall Street was Moderna, which sank 6.5% after reporting a much worse loss for the latest quarter than analysts expected. More swings could be coming for Wall Street.

Persons: Seng, Australia’s, Korea’s Kospi, Sensex, It’s, Jerome Powell, Eli Lilly's, Brent Organizations: Shanghai, Federal Reserve, Dow Jones Industrial, Nasdaq, Big U.S, Starbucks, Fair, Moderna, Wall, New York Mercantile Exchange, U.S . Locations: HONG KONG, Tokyo, China, U.S

A woman dressed up as a starving medical student. One woman dressed up as a medical student, holding a begging bowl in her hands. A woman dressed up as a liberal arts student hungry for egg fried rice. Greg Baker/Pool/ReutersTo address these challenges, President Xi Jinping hosted a key financial policy meeting this week to reiterate the need to resolve financial risks in the economy. “Hidden economic and financial risks are still widespread,” the readout said.

Persons: Hong Kong CNN —, ”, Zhou, Xiao Pan, Yan Ziqi, “, Xi Jinping, Greg Baker, Xi Organizations: Hong Kong CNN, CNN, Global, Stock, Huaan Securities, Service, National People's, of, People, Reuters, Communist Party, Ministry of State Security Locations: China, Hong Kong, China’s, Shanghai, Weibo, Douyin, “, Beijing

☆ China lowers flags to half mast on former premier Li's cremation day
▼ + stars: | 2023-11-02 | by ( ) www.reuters.com time to read: +1 min

[1/2] China's Premier Li Keqiang waves as he arrives for a news conference after the closing ceremony of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, China, March 15, 2017. REUTERS/Damir Sagolj Acquire Licensing RightsBEIJING, Nov 2 (Reuters) - China ordered the lowering of the national flag at Tiananmen Square in the heart of the Chinese capital Beijing on Thursday, when the remains of former premier Li Keqiang are scheduled to be cremated, state media said. The national flag will be flown at half mast across the country, the official Xinhua News Agency said on Tuesday, including at Beijing's Great Hall of the People, the foreign ministry as well as seats of local governments across the country, and diplomatic missions. Li, a former economist and pro-reform leader who served as the premier for 10 years before retiring in March, died of a heart attack in Shanghai last Friday and his remains were transferred to the capital the same day. Reporting by Liz Lee and Shanghai newsroom; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Li, Damir Sagolj, Li Keqiang, Liz Lee, Christian Schmollinger Organizations: People's Congress, of, People, REUTERS, Rights, Xinhua News Agency, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai

SHANGHAI, China (AP) — American Ballet Theatre returned to China on Thursday for the first time in a decade in the latest sign that strained U.S.-China relations are beginning to improve. The tour marks a revival of cultural exchanges between China and the United States. She said cultural exchanges between the U.S. and China “are very necessary" at this time. Ambassador to China Nicholas Burns said Monday during an event celebrating American World War II veterans who helped China battle Japan. But the two peoples of the countries have always been together.”The ABT last performed in China in March 2013 in Beijing.

Persons: ”, Susan Jaffe, ABT, Giselle, “, Jaffe, —, Zhang Xiaoding, Zhu Xiaoyi, Joe Biden, Xi Jinping, China Nicholas Burns, ” Burns, Dwight Eisenhower’s, ___ Mistreanu, Caroline Chen Organizations: Ballet Theatre, Shanghai, Theater, Philadelphia Orchestra, National Center, Performing Arts, Shanghai Grand Theatre, U.S, Economic Cooperation, U.S ., Soviet Union Locations: SHANGHAI, China, U.S, New York, United States, Shanghai, Beijing, ”, Washington, Asia, San Francisco . China, Ukraine, Japan, American, Taipei, Taiwan

People wearing face masks wait at an intersection in Beijing's Central Business District (CBD), as the city is shrouded in smog, in China November 1, 2023. The weather in many parts of China had stayed stubbornly warm entering November, with cities in eastern and central provinces such as Shandong, Anhui, Jiangsu and Henan still logging temperatures above 30C. In tandem with the warm weather, smog has also shrouded Beijing and its surrounding areas for days. In coming days, temperatures across northern China are expected to drop sharply. Other cities such as Beijing, Zhengzhou, Jinan, Xian and Shijiazhuang will see a sudden decline of 10C to 15C.

Persons: REUTER, Tingshu Wang, Ethan Wang, Ryan Woo, Simon Cameron, Moore Organizations: Business, Rights, Beijing Daily, Xinhua, National Meteorological Center, Shanghai, Thomson Locations: China, Rights BEIJING, Beijing, Shandong, Anhui, Jiangsu, Henan, Hebei province, Shenyang, Changchun, Harbin, Zhengzhou, Jinan, Xian, Shijiazhuang

Apple shares, which have risen 37% so far this year, dropped 3.4% after-hours, following the forecast. Maestri said Apple expects to have higher iPhone sales for the fiscal first quarter, even though this year's holiday quarter has one fewer week of sales than the year-ago. Cook said the company's new high-end handset models - the iPhone 15 Pro and Pro Max devices - are facing supply constraints. Apple's sales in China fell to $15.08 billion from $15.47 billion in the fourth quarter a year ago. Cook said that after accounting for foreign-exchange rates, Apple's business in China grew year-over-year, driven by iPhone sales and services revenue.

Persons: Tim Cook, Apple, Cook, Luca Maestri, Bob O'Donnell, Davidson, Tom Forte, Aly, Max, Nabila Popal, Lionel Messi, Stephen Nellis, Yuvraj Malik, Sayantani Ghosh, Peter Henderson, Matthew Lewis, Leslie Adler Organizations: Huawei, Apple, TECHnalysis Research, Mac, REUTERS, Huawei Technologies, U.S, Reuters, Pro, Apple Watch, Thomson Locations: China, Cupertino , California, Shanghai, San Francisco, Bengaluru

[1/3] The Chinese flag at a gate to the Zhongnanhai leadership compound flies at half-mast in memory of late former Chinese premier Li Keqiang, in Beijing, China November 2, 2023. REUTERS/Mark Chisholm Acquire Licensing RightsBEIJING, Nov 2 (Reuters) - China lowered the national flag at Tiananmen Square in Beijing on Thursday amid an outpouring of grief online as the country cremated former premier Li Keqiang, known as "the people's premier" for his down-to-earth, hands-on leadership. "In memory of comrade Li Keqiang, flags were flown at half-mast at Tiananmen Square in the capital," state media said. "Personally, I still feel a bit unreal (about his death) because I feel like he's a good premier and suddenly he's gone. Some businesses such as international coffee chain Starbucks (SBUX.O) turned their app interface black and white in mourning for Li.

Persons: Li Keqiang, Mark Chisholm, Li, Xi Jinping, Han Zheng, Hu Jintao, Gao, Xi, he's, Wan, Zhang Shijun, Liz Lee, Xiaoyu Yin, Ryan Woo, Christian Schmollinger Organizations: REUTERS, Rights, Communist Party's, Xinhua, Weibo, China's, Communist Party, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai, Weibo

☆ Chinese EV startups Xpeng, Li Auto deliver a record number of cars in October
▼ + stars: | 2023-11-02 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Xpeng reveals its G6 SUV at a major auto show in Shanghai on April 18, 2023. BEIJING — Chinese electric car companies Xpeng and Li Auto each delivered a record number of cars in October, according to company releases late Wednesday. Xpeng said it delivered 20,002 cars last month. Li Auto's monthly deliveries remained far ahead of its immediate peers at 40,422 cars in October. Nio said it delivered 16,074 cars in October, up slightly from the prior month but below the 20,462 vehicle deliveries reported for July.

Persons: Xpeng, Li, Nio Organizations: Li Auto Locations: Shanghai, BEIJING, That's

TOKYO (AP) — Asian shares were mostly higher Thursday after the U.S. Federal Reserve indicated it may not need to pump the brakes any harder on Wall Street and the economy. Longer-term Treasury yields have in turn been rising rapidly, with the 10-year Treasury yield topping 5% last month to reach its highest level since 2007. He also said the Fed is not considering cuts to interest rates, which can act like steroids for financial markets. On Wall Street, the S&P 500 rose 1.1% to 4,237.86 and the Dow Jones Industrial Average gained 0.7% to 33,274.58. Big Tech stocks were winners Wednesday, along with other high-growth stocks typically seen as the biggest beneficiaries of easier interest rates.

Persons: Australia's, Korea's Kospi, Seng, It’s, ” Stephen Innes, Fumio Kishida, Stocks, Jerome Powell, Powell, ” Powell, Powell’s, Yung, Yu Ma, “, Ma, Brent Organizations: TOKYO, U.S . Federal, Nikkei, Federal Reserve, Management, Fed, Treasury, BMO Wealth Management, Dow Jones Industrial, Nasdaq, Big Tech, U.S Locations: Hong, Shanghai, Japan

☆ Dating is hard. Have apps made it worse?
▼ + stars: | 2023-11-02 | by ( Leah Asmelash | ) edition.cnn.com time to read: +13 min

“Dating on the apps, it’s ruined dating a bit,” Nguyen-Don, who works as a digital marketing manager, said. “The… design of those dating apps should definitely be held accountable for this kind of dating culture,” Zhou said. His experiences on dating apps were positive, he said, and he valued the ways they introduced him to new people and new experiences. Dating apps know this. For all their flaws, dating apps are unlikely to disappear any time soon.

Persons: Jenny Nguyen, Don, Nguyen, didn’t, WhatsApp, hadn’t, he’d, texted, ” Nguyen, “, Alexis Dougé, Tinder, ”, Dougé, who’s, Benson Zhou, Zhou, ” Zhou, Brian, they’ll, CNN he’s, Foyin Ogunrombi, Ogunrombi, she’s, —, Who’s, Silas Stein, “ It’s, ” Ogunrombi, David Argetsinger, Argetsinger, ” Alissa Wilson, ” Wilson, Maxine Simone Williams, WeMetIRL, ” Williams, Williams, Bumble Organizations: CNN, Twitter, New York University Shanghai Locations: London, TikTok, Atlanta, Johannesburg, South Africa, Everett , Washington, Arlington , Virginia, New York, cologne

☆ Starbucks CEO targets growth in China after years of slowdowns from Covid restrictions
▼ + stars: | 2023-11-02 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Starbucks CEO Laxman Narasimhan spoke with CNBC's Jim Cramer on Thursday after the coffee giant reported earnings for its fourth quarter that beat Wall Street expectations. Narasimhan discussed the company's plans to expand its stores in China, its second-largest market. The company saw headwinds in China over the past few years, with business stalled due to the country's prolonged zero-Covid policy. This quarter saw China's same-store sales grow 5% and customer traffic increase 8%, although the average ticket declined 3%. After 24 years of business in China, Narasimhan said per capita coffee consumption lies at 12 cups per person.

Persons: Laxman Narasimhan, CNBC's Jim Cramer, Narasimhan, We've Organizations: Starbucks, LSEG Locations: China, U.S, Japan, Shanghai

☆ Chinese Laser Sensor Maker Targeted as Tech Trade War Spreads
▼ + stars: | 2023-11-01 | by ( Heather Somerville | ) www.wsj.com time to read: 1 min

Hesai Group , a Shanghai-based maker of laser sensors used for next-generation vehicles, celebrated a Nasdaq stock offering in February that was heralded by some as a comeback for Chinese listings in the U.S.Less than nine months later, Hesai has become an example of how the U.S.-China battle over technology is roiling the business world. Its stock is down more than 50%, and the company is on the back foot, hiring lobbyists and defending its reputation.

Persons: Hesai Organizations: Hesai, Nasdaq, U.S . Locations: Shanghai, U.S, China

SHANGHAI, Nov 1 (Reuters) - Halloween revellers thronged central Shanghai late on Tuesday night, with some dressed in costumes that poked fun at China's strict COVID-19 curbs in a rare showcase of free expression as police looked on. Celebrations in the Chinese financial hub began on the weekend, culminating on Tuesday in a large crowd of mostly young people that gathered around a popular bar area, according to onlookers and social media posts. "The 'dabai', COVID-19 testing, A-share market...that Shanghai people dressed up as are all elements that speak to the trauma of the times and traces of history. Public critiques of government policies are rare in China, where authorities have been cracking down on free expression. Some party goers also showed up with blank sheets of paper stuck to their clothes, a key symbol of last year's protests, other social media posts showed.

Persons: Lu Xun, Brenda Goh, Casey Hall, Eduardo Baptista, Michael Perry Organizations: Reuters, Weibo, Thomson Locations: SHANGHAI, Shanghai, China, Beijing

☆ China firm launches stock indices to tap into rush for safe-haven gold
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

A man cuts open the bag after he bought 50 gram gold bars as an investment in Beijing, China, August 5, 2019. The new indexes (.CSI931493), (.CSI931413), launched by the China Securities Index Co, include shares of global gold miners such as Newmont Corporation (NEM.N) and Barrick Gold . "Gold is the brightest asset at the moment... promising much better returns than Chinese property or the broad stock market," said Shihua Duan, general manager of Shanghai Changer Invest. China Asset Management Co and Maxwealth Fund Management Co last month launched China's first exchange-traded funds (ETFs) (517520.SS) that invest in gold stocks. "Buying the gold bar is the safest among so many investment choices," said gold investor Jack Liu, who spent 230,000 yuan ($31,425) on a gold bar in September.

Persons: Jason Lee, Shihua Duan, Jack Liu, Jason Xue, Samuel Shen, Miral Organizations: REUTERS, Rights, China Securities Index, Newmont Corporation, Barrick, Miners, Invest, China Asset Management, Maxwealth Fund Management Co, Beijing, Thomson Locations: Beijing, China, Shanghai, Ukraine, Summer, Hong Kong

BANGKOK (AP) — Asian shares were mostly higher Wednesday after Wall Street advanced to claim back some of the ground it gave up in another losing month. The overwhelming expectation is that the Fed will keep its overnight interest rate steady. Pinterest jumped 19% after reporting stronger profit for the latest quarter than analysts expected. Most big U.S. companies have reported stronger profit for the summer than expected, and Caterpillar also joined them. The Fed has already pulled its main overnight interest rate above 5.25% to its highest level since 2001.

Persons: Pinterest, It's, Brent Organizations: Wall, Federal Reserve, Nikkei, Bank of Japan, European Central Bank, Dow Jones, Nasdaq, Arista Networks, Caterpillar, VF Corp, Vans, Treasury, Fed Locations: BANGKOK, U.S, Hong Kong, Shanghai

☆ Carlos Alcaraz: World No. 2 suffers shock defeat to Russia’s Roman Safiullin at Paris Masters
▼ + stars: | 2023-11-01 | by ( Ben Church | Patrick Sung | ) edition.cnn.com time to read: +2 min

CNN —He may have developed into one of the best players in the world, but Carlos Alcaraz is not immune to an off day. The reigning Wimbledon champion suffered a surprise defeat to Russia’s Roman Safiullin in the Paris Masters on Tuesday, the first time the 20-year-old has lost an opening round match at a tournament this year. There’s only one tournament left, but these losses hurt a lot.”Roman Safiullin produced a brilliant performance to peg back the world No. “For Carlos, it was not his best performance, but still I’m happy that I can win,” Safiullin said after the match. The Serb is set to start his Paris Masters campaign against Argentina’s Tomás Etcheverry on Wednesday as he looks to win his seventh title at the event.

Persons: Carlos Alcaraz, Alcaraz, “, ” Alcaraz, Safiullin, Stephanie Lecocq, Reuters Safiullin, Carlos, ” Safiullin, he’s, I’m, Grigor Dimitrov, Novak Djokovic, Argentina’s Tomás Etcheverry Organizations: CNN, Wimbledon, Paris, Reuters, Shanghai Masters, Paris Masters Locations: Switzerland

☆ Relics of Huge Primordial Collision Reside in Earth's Deep Interior
▼ + stars: | 2023-11-01 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +4 min

By Will DunhamWASHINGTON (Reuters) - Seismologists have recognized since the 1970s that two mysterious continent-sized blobs reside in the deepest part of Earth's mantle, one under Africa and the other under the South Pacific region. Based on these simulations, they proposed that most of Theia was absorbed into Earth, forming the blobs, while residual debris formed the moon. If the study's conclusions are correct, these blobs would represent the first direct evidence of the hypothesized moon-forming collision. "It is incredible because we can uncover relics of another planet - Theia - if we dig deep enough in Earth's mantle," added planetary scientist and study co-author Hongping Deng of the Chinese Academy of Sciences' Shanghai Astronomical Observatory. Asimow said that if their conclusions are correct some volcanic rocks that reach Earth's surface may provide samples of a vanished planet.

Persons: Will Dunham WASHINGTON, Qian Yuan, Paul Asimow, Hongping Deng, Yuan, Asimow, Will Dunham, Rosalba O'Brien Organizations: Caltech, Chinese Academy of Sciences Locations: Africa, South Pacific, Theia, Shanghai

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