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☆ China Is Closing the A.I. Gap With the United States
▼ + stars: | 2024-07-25 | by ( Meaghan Tobin | Cade Metz | ) www.nytimes.com time to read: 1 min

At the World Artificial Intelligence Conference in Shanghai this month, start-up founder Qu Dongqi showed off a video he had recently posted online. It displayed an old photograph of a woman with two toddlers. Then the photo sprang to life as the woman lifted the toddlers up in her arms and they laughed with surprise. The technology was reminiscent of a video generator, called Sora, that the American start-up OpenAI unveiled this year. “My American friends still can’t use Sora,” Mr. Qu said.

Persons: Qu Dongqi, Sora, OpenAI, “, ” Mr, Qu, ” Organizations: Artificial Intelligence Locations: Shanghai

☆ My friend and I spent $390 at one of the most-awarded Chinese restaurant chains. I'd only return on 2 conditions.
▼ + stars: | 2024-07-25 | by ( Tiffany Leigh | ) www.businessinsider.com time to read: +1 min

When I was in Hong Kong, my friend and I spent $390 at Mott 32, a high-end Chinese restaurant chain. I liked most dishes I got, but I'd only return to the restaurant with a larger group of people. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOn a recent trip to Hong Kong, I decided to splurge on a meal at Mott 32, a high-end Asian restaurant chain. Mott 32 is one of the most-awarded Chinese restaurant brands in the world, with recognition from outlets like Forbes Travel Guide and Wine Spectator.

Persons: —, Mott Organizations: Mott, Service, Forbes Travel, Wine Spectator, Business Locations: Hong Kong, Canton, Shanghai, Beijing

☆ China to use ultra-long bonds for consumer, trade-in policy support as worries about retail sales slump grow
▼ + stars: | 2024-07-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

CNBC | Evelyn ChengSHANGHAI — China on Thursday announced its most targeted measures yet for boosting consumption, which has remained lackluster since the Covid-19 pandemic. Authorities announced they would allocate 300 billion Chinese yuan ($41.5 billion) in ultra-long special government bonds to expand an existing trade-in and equipment upgrade policy. He noted how the new policy links Beijing's ultra-long bond program — announced in March — with consumption. The National Development and Reform Commission on Thursday then announced the expanded policy to support consumption. He noted that the 300 billion yuan designation also reflects "a new way of thinking" which can have impact at scale.

Persons: Evelyn Cheng, Zong Liang, —, Zong, Bruce Pang Organizations: CNBC, Thursday, Authorities, National Development, Reform, Ministry of Finance, Bank of, People's Bank of Locations: Evelyn Cheng SHANGHAI, China, People's Bank of China, JLL

☆ China Unexpectedly Cuts Interest Rate as World Markets Sag
▼ + stars: | 2024-07-24 | by ( Keith Bradsher | More About Keith Bradsher | ) www.nytimes.com time to read: +1 min

China’s central bank on Thursday cut a key interest rate, in Beijing’s second move this week to try to offset a weakening economy and a housing market crisis. The unexpected action came as stock markets fell sharply across most of Asia in early trading, in an echo of Wall Street’s sharp drop the day before. Market indexes were down 1 to 3 percent in Australia, Japan, South Korea and Hong Kong. That could reflect a favorable response by investors to the central bank’s rate move, or a sign of intervention by the Chinese government, which plays an extensive role in the country’s stock markets. As markets opened in China on Thursday, the People’s Bank of China, the central bank, reduced its interest rate for one-year loans to commercial banks to 2.3 percent, from 2.5 percent.

Organizations: People’s Bank of China Locations: Asia, Australia, Japan, South Korea, Hong Kong, Shanghai, Shenzhen, China

☆ A funny AI video tweeted by Elon Musk risks Xi Jinping's wrath as Tesla rakes in China revenues
▼ + stars: | 2024-07-23 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

Elon Musk tweeted a parody video of an AI fashion show that featured him, Bill Gates, and other prominent figures. And Xi Jinping was featured in a robe designed with a cartoon bear suspiciously like Winnie the Pooh. Xi was featured for only two seconds, but the video is a risky post given Tesla's operations in China. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOn Monday, Elon Musk tweeted an AI-generated video of the world's biggest figures sashaying down the aisle of a fashion show.

Persons: Elon Musk, Bill Gates, Xi Jinping, Pooh, Xi, —, Tesla Organizations: Service, Business Locations: China, Shanghai

As Tesla CEO Elon Musk continues to make lofty promises about his company's future in autonomous driving and robotics, investors keep watching profit margins deteriorate. It's the fourth straight quarter of shrinkage. The company reported just $1.48 billion in net income on revenue of $25.5 billion, which included $890 million in regulatory credits. "Affordability remains top of mind for customers," said Vaibhav Taneja, Tesla's chief accounting officer, on the company's earnings call. Tesla began offering a five-year, zero interest loan offer to spur sales of its EVs in China in April.

Persons: Elon Musk, Tesla, Vaibhav Taneja Organizations: SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, Nasdaq Locations: Beverly Hills , California, China, CnEVPost, Shanghai, Germany

Finally, Lyft and Hilton have teamed up to offer 3x Hilton Honors points on Lyft rides, or 2x Hilton points for shared Lyft rides. You can do so at the following ratios:HawaiianMiles : 1 HawaiianMile = 1.5 Hilton Honors points: 1 HawaiianMile = 1.5 Hilton Honors points Virgin Atlantic Flying Club: 1 Virgin Atlantic point = 1.5 Hilton Honors pointsOther ways to redeem Hilton rewards pointsExperiences and shoppingThe Hilton Experiences program offers a variety of unique opportunities for redeeming points. Redeem Hilton Honors points for event creditsIt's also possible to redeem your points for events at a Hilton, though this isn't generally considered a good way to maximize your Hilton points value. Here's how much the credits cost:25,000 points = $5050,000 points = $10075,000 points = $150125,000 points = $250250,000 points = $500Exchange Hilton points for airline milesIf you'd rather have airline or rail points, you have the option to transfer Hilton points to partner airlines, though redemption rates vary. Maximizing Hilton Honors points frequently asked questionsHow can I earn Hilton Honors points?

Persons: Hilton, You'll, you'll, you've, Diamond, Conrad, Hilton LXR, Hilton Tru, cardholders, that's, Cardholders, Conrad Bora Bora, Hilton Honors Hilton, It's, Exchange Hilton, Lyft, doesn't, Finance Insider's Organizations: Business, Hilton, American, Read, Diamond, Hilton Honors, Express, Conrad Hotels, Resorts, Hilton DoubleTree, Hilton Embassy, Inn, Hilton Hilton Hotels, Garden Inn, Homewood, Hilton Signia, Hilton Tempo, Astoria Hotels, American Express, U.S, Hilton Honors American, Hilton Gold, Gold, Honors American, Online Retail, Hilton Honors American Express, Honors American Express, Hilton Diamond, Alamo, Enterprise, Lyft, Waldorf, Maldives, Dell, Adobe, Hawaiian Airlines, Virgin Atlantic, Virgin Atlantic Flying, Exchange, Honors, Amazon, Hilton's, American Express Hilton, Finance, Elite Locations: —, Hilton, U.S, It's, Shanghai, Czech, Venice, Indonesia, Worth

☆ Nvidia preparing version of new flagship AI chip for Chinese market, Reuters reports
▼ + stars: | 2024-07-22 | by ( ) www.cnbc.com time to read: +3 min

Nvidia is working on a version of its new flagship AI chips for the China market that would be compatible with current U.S. export controls, four sources familiar with the matter said. The AI chip giant in March unveiled its "Blackwell" chip series, which is due to be mass-produced later in the year. A version of a chip from Nvidia's Blackwell series for the Chinese market would boost the U.S. firm's efforts to fend off those challenges. Expectations are high that the U.S. will continue to keep up the pressure on semiconductor-related export controls. The U.S. wants the Netherlands and Japan to further restrict chipmaking equipment to China, sources have said.

Persons: Blackwell, Inspur, Nvidia's Blackwell, Biden Organizations: MWC Shanghai, Nvidia, Reuters, Huawei, Bloomberg News Locations: Shanghai, China, Washington, U.S, Netherlands, Japan

☆ China is doubling down on homegrown tech. Goldman Sachs shares its chip plays
▼ + stars: | 2024-07-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

From an investment perspective, Goldman Sachs analysts on July 15 pointed out there are notable catalysts for certain semiconductor and artificial intelligence China stock plays from August to December. Officials told reporters about plans to speed up "emerging and future industries," and expand the development of tech talent in China. Ways to play the space The bank has buy ratings on at least two Chinese companies in the industry. The Goldman analysts are also optimistic about growth for Chinese fabless companies, the businesses which design chips but outsource the manufacturing process. Montage generates nearly all of its revenue from servers, while Will Semiconductor draws about half of its revenue from smartphones, and one-third from automobiles, according to the Goldman report.

Persons: Goldman Sachs, Biden, Goldman, 3Q24E Organizations: Officials, Microsoft, Nvidia, Taiwan Semiconductor, ACM Research, Goldman, Will Semiconductor Locations: Beijing, China, TSMC, U.S, Shanghai, Friday's

☆ China's Xi urges all-out rescue efforts after highway bridge collapse kills 11
▼ + stars: | 2024-07-20 | by ( ) www.cnbc.com time to read: +1 min

Chinese President Xi Jinping chairs a symposium on advancing the integrated development of the Yangtze River Delta and delivers an important speech in east China's Shanghai, Nov. 30, 2023. President Xi Jinping urged all-out rescue efforts after a highway bridge collapse on Friday in Shaanxi province in China's northwest killed 11 people, state media reported on Saturday. As of 10 a.m. on Saturday, five vehicles were confirmed to have fallen into the water and 30 people were reported missing, state media said. Xi said China is in a critical period for flood control and local governments must take responsibility to enhance monitoring and early warning. China's national fire and rescue authority said on Saturday it had dispatched a rescue team to the site that included 859 people, 90 vehicles, 20 boats and 41 drones.

Persons: Xi Jinping, Xi Locations: China's Shanghai, Shaanxi, China's, Shangluo city, China

☆ China economy and employment: People who used to work for major tech giants are now doing manual labor
▼ + stars: | 2024-07-20 | by ( Chris Lau | Hassan Tayir | ) edition.cnn.com time to read: +8 min

Li, 27, is part of a growing base of Chinese workers swapping high-pressure office jobs for flexible blue-collar work. But these firms are slowly losing their appeal as China’s economy faces headwinds including a property crisis, declining foreign investment and slumping consumption. The trend to move from professional to manual jobs comes amid surging demand for blue-collar workers, according to Chinese recruitment platform Zhaopin. And blue-collar workers’ pay has also gone up, attracting more people to jobs they might have previously avoided. Pressure of another kindBut some wonder if blue-collar work is truly the stress-free refuge people like Li and Wang imagine it to be.

Persons: Hong Kong CNN — Leon Li, ”, Li, “, Alice Wang, Wang, –, Larry Hu, Zhang Yuxiao, David Goodman, commenter Organizations: Hong Kong CNN, CNN, National Bureau of Statistics, Workers, NBS, University of Sydney’s China Studies Centre Locations: China, Hong Kong, Hangzhou, Chengdu, –, Macquarie, Shanghai

☆ Cheng Pei Pei, ‘Crouching Tiger, Hidden Dragon’ Star, Dies at 78
▼ + stars: | 2024-07-19 | by ( Qasim Nauman | ) www.nytimes.com time to read: +1 min

Cheng Pei Pei, a trailblazer for women in Asian martial arts cinema and a star of the 2000 blockbuster “Crouching Tiger, Hidden Dragon,” died on July 17 in the San Francisco Bay Area. Ms. Cheng was born on Jan. 6, 1946, in Shanghai. Trained in ballet and traditional Chinese dance, she began her acting career in Hong Kong in 1964 and became one of the stars of the wuxia genre of martial arts films. Her breakout role was in the mid-’60s kung fu classic “Come Drink With Me.”“Our mom Cheng Pei Pei wanted to be remembered for who she was: the legendary ‘Queen of Martial Arts,’” her family said in a statement. “She loved being an actress and knew, even with her hard work, how fortunate she was to have the career she had.”

Persons: Cheng Pei Pei, ”, Cheng, ’, “ Organizations: trailblazer, Echelon Talent Management, Martial Arts Locations: San Francisco Bay, Shanghai, Hong Kong

☆ Cheng Pei-pei, ‘queen of martial arts’ movies, dead at 78
▼ + stars: | 2024-07-19 | by ( Amarachi Orie | ) edition.cnn.com time to read: +2 min

CNN —Actress Cheng Pei-pei, best known for her martial arts roles in films such as “Come Drink with Me” and “Crouching Tiger, Hidden Dragon,” has died. Our mother, Cheng Pei Pei, passed away peacefully at home surrounded by her loved ones on July 17,” her family wrote in a statement posted on Facebook Friday. Our mom wanted to be remembered by how she was: the legendary Queen of Martial Arts… a versatile, award-winning actress whose film and television career spanned over six decades, not only in Asia but internationally as well,” the statement continues. Born in Shanghai in 1946, Cheng trained in ballet while at school before moving to Hong Kong as a teenager. She then enrolled in a performing arts training course at film production company Shaw Brothers Studio, a pioneer of the kung fu film genre, according to the website Hong Kong Movie Database (HKMDB).

Persons: Cheng Pei, pei, ”, Cheng Pei Pei, Cheng, Shaw, Shang, ” Cheng, HKMDB, Jade Fox, “ I’m, “ Organizations: CNN, Facebook, National Health Service, Martial Arts …, Shaw Brothers, Hong Kong Movie Locations: Asia, Shanghai, Hong Kong, United States

☆ Volvo Cars jumps 7% after reporting a record core operating profit
▼ + stars: | 2024-07-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Shares of Volvo Cars rose sharply on Thursday after the company reported a jump in annual operating profit for the second quarter. Core operating profit for the quarter came in at 8.2 billion Swedish kronor ($776 million), 28% higher than in the same quarter a year earlier, the company said in a statement. Volvo Cars' revenue dipped slightly in the second quarter, coming in at 101.5 billion Swedish kronor from 102.2 billion Swedish kronor over the same period of last year. In the first quarter of 2024, Volvo Cars had reported a 2% year-on-year decline in revenue. First-quarter operating profit had come in at 6.8 billion Swedish kronor, while retail car sales amounted to 182,687.

Persons: Jim Rowan Organizations: Volvo, Global, U.S, Volvo Cars Locations: Shanghai, China, London

The fleet of 500 vehicles operating in the city belongs to Apollo Go, a unit of Chinese tech giant Baidu (BIDU). There have also been complaints from residents in Wuhan about traffic jams, as driverless cars fail to respond to traffic lights. Uncertainty over the safety and reliability of driverless cars has cast a long shadow over the industry in the US. Last week, authorities in Shanghai’s Pudong New Area started handing out licenses to driverless car operators, including Apollo Go and Alibaba-backed AutoX, according to state media China Daily. California-based startup Pony.ai, backed by Toyota and Saudi Arabia, was also given the green light to test driverless vehicles in the financial hub.

Persons: You’ll, ” Tu Le, robotaxi, Apollo Go’s, Apollo, Waymo, Elon Musk, Go Organizations: Hong Kong CNN —, Weibo, Baidu, Global Times, Sino, CNN, National Bureau of Statistics, Apollo Go, United, GM, Department of Justice, McKinsey, Pudong New Area, Toyota, Beijing Municipal Bureau of, Information Technology, People’s Daily Locations: China, Hong Kong, Wuhan, Weibo, United States, United Arab Emirates, California, Beijing, Shenzhen, Pudong, . California, Saudi Arabia, Bao’an district, People’s

☆ Tiger testicles and mythical banquets: What China’s emperors inside Beijing’s secretive Forbidden City really ate
▼ + stars: | 2024-07-16 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +21 min

CNN —The Forbidden City was once one of the most powerful places on the planet. It was called the ‘Forbidden City’ because few Chinese subjects were allowed to enter. Ancient tableware from the Forbidden City is on display at the Hong Kong Palace Museum. “The majority of (the emperors) grew up in a highly disciplined environment,” says Wang of the Hong Kong Palace Museum. Now popular worldwide, Peking duck was regularly served at Empress Dowager Cixi's Forbidden City banquets.

Persons: Zhao Rongguang, Bin Xiao Zhao, Deng Xiaoping, Beijing . Zhao, wasn’t, Zhao, Kangxi Emperor, VCG Wilson, Kangxi, ”, Qianlong Emperor, Giuseppe Castiglione, –, Qianlong, Daisy Yiyou Wang, Maggie Wong, Nicole Chiang, ” Chiang, Chiang, Emperor Qianlong, it’s, “, ” Zhao, It's, didn’t, Wang, Dowager Cixi, Empress Dowager Cixi –, Cixi, China’s, Han Quan Xi, ’ ”, Dowager, Tian, Yan ”, suckling, Tian An Yan, Leah Abucayan Organizations: CNN, Historical, of China, Beijing's, Hong Kong Palace Museum, Hong, Forbidden, Hong Kong, Museum, Everett, Communists, China Import, Fair, Communist Locations: Europe, Beijing, China, Chinese, Heilongjiang, Paris, Beijing ., Prosperity, Netherlands, Italian, City, Hong Kong, It’s, Beijing’s, Forbidden City, Jiangnan, Hangzhou, Shanghai, Mongolia, Qianlong, Guangzhou, Japan, East Asia, Peking, Imperial

☆ Putin wants to strengthen a big challenger to Western dominance
▼ + stars: | 2024-07-16 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The group is known as BRICS for original members Brazil, Russia, India, China, and South Africa, which collectively form the bloc's acronym. A parliamentary structure would formalize the group even further. AdvertisementA larger and more structured BRICS bloc could have more bargaining power and create an alternative to the West-led global order. Indian Prime Minister Narendra Modi visited Russia recently, even though New Delhi is in a strategic partnership with the US. But the BRICS group should not be counted out, wrote as Ian Bremmer, the president of the Eurasia Group, in a report earlier this month.

Persons: —, Vladimir Putin, BRICS, Putin, Rich Lesser, Sergey Lavrov, Narendra Modi, Modi, Ian Bremmer Organizations: Service, United, United Arab Emirates, Business, New Development Bank, Putin, Kremlin, Boston Consulting, UAE —, Russian, Indian, Eurasia Group Locations: West, Brazil, Russia, India, China, South Africa, Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, United Arab, Shanghai, St Petersburg, Thailand, Malaysia, UAE, New Delhi

Newly produced electric vehicles are being seen at Tesla's Shanghai Gigafactory in Shanghai, China, on December 31, 2023. Costfoto | Nurphoto | Getty ImagesBEIJING — New tariffs on Chinese electric cars aren't enough to help foreign automakers stay competitive, especially in the lucrative China market, according to consulting firm AlixPartners. While collaborations are "rational" to attain market share, Dyer said it is difficult to stay in the China market long-term if foreign carmakers don't switch things up. Last month, an analyst from the Bank of America said U.S. automakers based in Detroit should exit China "as soon as they possibly can" because they were at the losing end against China EV giants. Electric cars are less complex than internal combustion engine-powered vehicles.

Persons: It's, haven't, Stephen Dyer, Dyer, Cooper, — Organizations: Shanghai, Nurphoto, Getty, China's EV, CNBC, Porsche, BMW, Cooper, Bank of America, China EV Locations: Shanghai, China, BEIJING, China's, Asia, Europe, U.S, Detroit

☆ One of Tim Cook's big bets is paying off
▼ + stars: | 2024-07-15 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Sales in its latest fiscal year hit nearly $8 billion in the country, Bloomberg reported. Apple execs have made it a point to grow in Asian markets in the past year as rivals push forward. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . CEO Tim Cook has led an effort to strengthen Apple's presence in Asian markets.

Persons: Apple execs, —, Apple, Tim Cook, Cook Organizations: Apple, Bloomberg, Service Locations: Asia, India, Shanghai

☆ China’s biggest policy meeting in six years kicks off this week. How investors can play it
▼ + stars: | 2024-07-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

The more dire predictions for China's highly anticipated "Third Plenum" that kicks off Monday hint at constraining the financial sector, despite slowing economic growth. Policy has long been an important guide for investors in China's top-down economy. The official English summary listed four measures, the third of which called for developing the "real economy," and "guarding against a shift from the real economy toward the financial economy." Goldman Sachs on July 11 published a lengthy report on China solar in anticipation the industry is nearing a bottom. One of the Goldman Sachs analysts' newly initiated, buy-rated China solar stocks is Daqo New Energy , a U.S.-listed manufacturer of polysilicon for solar power companies.

Persons: it's, Dan Wang, Han Wenxiu, Goldman Sachs, bode, Jacqueline Du, Daqo, Si Fu, Wang Organizations: Hang Seng Bank, ” Finance, Central Committee's Office, Financial, Economic Affairs, CNBC, Communist Party's, Committee, Bank of America, Energy, Goldman Locations: China, Beijing, China's, U.S, Shanghai

☆ Ron Insana: Look to the U.S. for economic resilience and continued global stock market leadership
▼ + stars: | 2024-07-13 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 3, 2024. The S&P 500 is up nearly 18% in 2024, while the Nasdaq Composite is up 22% in that same time frame. Americans have often been accused, especially by those living abroad, of having a rather narrow view of the world. But President Xi Jinping's "party over prosperity" political model continues to dampen enthusiasm among both foreign investors and domestic consumers. There may be a day that that becomes true and other economies and markets may prove more alluring, but that day has yet to come.

Persons: it's, Xi Jinping's, It's, Dorothy Gale of, Ron Insana Organizations: New York Stock Exchange, Nasdaq, U.S, National Institution for Finance, Development, Monetary Fund, Overseas, Treasurys, U.S ., CNBC Locations: New York City, U.S, Japan, Argentina, Turkey, China, Shanghai, Italy, Spain, America, Dorothy Gale of Kansas

☆ Stocks making the biggest moves midday: Intuit, AMD, LegalZoom.com, Baidu and more
▼ + stars: | 2024-07-10 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

In terms of revenue, LegalZoom now expects between $675 million and $685 million for the full year. Taiwan Semiconductor Manufacturing — The chip stock advanced 3% following the company's revenue results . Though the company's reported T$207.87 billion for the month of June was a 9.5% decrease from last month, it was a 32.9% increase from the year-ago period. For January through June this year, the company reported T$1.27 trillion, which is a 28% increase from the same period last year. Carvana — Shares of the online car seller added 5% after Needham upgraded the stock to buy from hold.

Persons: LegalZoom.com, Dan Wernikoff, Jeffrey Stibel, LegalZoom, Carvana, Needham, robotaxi, —, Alex Harring, Fred Imbert, Samantha Subin, Pia Singh, Michelle Fox, Darla Mercado Organizations: Intuit —, Intuit, Taiwan Semiconductor Manufacturing, Baidu, Street Journal, Shanghai, Mastercard, Visa, Bank of America, Manchester United, BioSciences, Analysts, Illumina, Teva Pharmaceutical Industries, Argus, UBS, Science, AMD, Silo Locations: China, Shanghai, Hoka, Europe

☆ The 4 Apple suppliers set to pop on iPhone 16 series launch: BofA
▼ + stars: | 2024-07-10 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

"A solid iPhone replacement cycle and spec upgrade should help HH's better sales/earnings in 2025-26," the investment bank's analysts wrote. The bank expects the China-based design and manufacturing giant to see strong margins as demand for its casings increases in tandem with better iPhone shipment cycles between 2025 and 2026. "We lift Foxconn Industrial Internet (FII)'s 2024-26E earnings by 2-6% on potentially better iPhone casing sales and strong AI server contribution," the analysts wrote. "We expect BYDE's casing profitability to gradually improve on better operation efficiency (higher automation rate, improving yield)," the analysts wrote. They have lifted the company's 2025-2026 earnings expectations by 2% to "reflect potentially better iPhone volume, robust auto expansion as well as rising AI-related contribution (server, robot)."

Persons: Ming, Chi Kuo, Ross Young, Hai, BofA, Foxconn, — CNBC's Michael Bloom Organizations: Tech, Apple, Bank of America, Hai Precision Industry, Taiwan Stock Exchange, American Depository, New, Industrial, Taiwan Stock Exchanges, U.S . Its, Shenzhen Stock Exchange, China 5G, Semiconductor, Hong Kong Exchange, Hong Locations: U.S, New Taiwan, China, Shanghai, Taiwan, U.S . Its Shanghai, Hong Kong

☆ China's Ping An eyes up to $5 billion convertible bond sale, Reuters reports
▼ + stars: | 2024-07-10 | by ( ) www.cnbc.com time to read: +1 min

(Photo by Alex Tai/SOPA Images/LightRocket via Getty Images)China's Ping An Insurance is considering convertible bond sale worth up to $5 billion, according to two sources with direct knowledge of the matter. The bond sale could raise between $2 billion and $5 billion, according to one of the sources. It did not say whether a convertible bond sale was currently under consideration. A convertible bond issue by Ping An would extend the recent rush of convertibles issued by Chinese corporates, led by Alibaba Group , which raised $5 billion in May. Bloomberg News first reported Ping An's plans to issue a convertible bond deal on Tuesday.

Persons: Alex Tai, Ping, Ping An's Organizations: Ping An Insurance, Getty, Hong Kong Stock Exchange, Alibaba Group, Bloomberg News Locations: China, Shanghai

☆ Putin hosts India’s PM to deepen ties, but Ukraine looms over their relationship
▼ + stars: | 2024-07-09 | by ( ) www.cnbc.com time to read: +6 min

Russia's President Vladimir Putin and India's Prime Minister Narendra Modi walk during their meeting at the Novo-Ogaryovo state residence near Moscow, Russia July 8, 2024. Their partnership has become more complicated, however, as Russia has moved closer to China amid international isolation of Moscow over Ukraine. Russian state media reported that they would also discuss Moscow helping India build more nuclear power plants. The two countries already are collaborating on the Kudankulam nuclear power project in the southern Indian state of Tamil Nadu. With Moscow's arms industries mostly serving the Russian military in Ukraine, India has been diversifying its defense procurements, buying more from the U.S., Israel, France and Italy.

Persons: Vladimir Putin, Narendra Modi, Putin, Modi, Volodymyr Zelenskyy, Matthew Miller, Vinay Mohan Kwatra Organizations: India's, Indian, NATO, . State Department, Shanghai Cooperation Organization, India, Russian Locations: Moscow, Russia, Washington, Ukraine, China, Kazakhstan, Beijing, Russian, Kyiv, India, New Delhi, Tamil Nadu, United States, Vladivostok, Uzbekistan, U.S, Israel, France, Italy, Chennai, East

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