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☆ Electric cars aren’t just for the wealthy anymore
▼ + stars: | 2023-07-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —Thanks to a combination of new models, more production and new tax laws, electric vehicles are no longer just for the wealthy. Currently the “days supply” of electric vehicles – a measure of the number units on dealer lots relative to how quickly they sell – is now twice that of new vehicles overall. The biggest bargain among electric vehicles currently, whether you lease or buy, happens to be one that’s going away soon. A Chevrolet Bolt EV sits parked at a charging station at Stewart Chevrolet on April 25, 2023 in Colma, California. For almost $10,000 less, in terms of sticker price, Hyundai offers the soon-to-be redesigned Kona Electric.

Persons: Kia, Erik Pendzich, it’s, Mark Luxcombe, Wolters, “ There’s, ” Luxcombe, Brian Moody, Moody, ”, Stewart, Justin Sullivan, Kia EV6, Josh Lefkowitz, Tony Quiroga, Bing Guan, Quiroga, Chevrolet Bolt Organizations: CNN, General Motors, Ford, Hyundai, Kia, Volkswagen, GT, New York, Wolters Kluwer, Cox Automotive, Chevrolet Bolt, Stewart Chevrolet, GM, Angeles, Kona, EV, Chevrolet Locations: America, Colma , California, Los Angeles , California

“We’re horrified that something like this could happen, not only to us, but to anyone,” Saffrine Duggan told her supporters. Former US fighter pilot Daniel Duggan is in custody in Australia pending extradition to the US on charges including that he trained Chinese military pilots. Courtesy Saffrine DugganTraining Chinese pilotsDuggan doesn’t deny training Chinese pilots, but he maintains they were civilians – plane enthusiasts seeking to improve their skills or prospective members of China’s then rapidly expanding aviation industry. And a spokesperson for New Zealand’s Defence Force confirmed to Reuters that four of its former military pilots had been recruited by the company. It’s the wrong type of approach and landing.”In its statement to CNN, TFASA denied teaching aircraft carrier approach and landing techniques to Chinese military pilots.

Persons: Daniel Duggan, Duggan, Duggan’s, “, ”, Saffrine, “ We’re, ” Saffrine Duggan, Paul Devitt, Duggan –, –, ” Duggan, Saffrine Duggan, TFASA, they’re, Duggan doesn’t, China’s, Glenn Kolomeitz, ” “ Dan, Richard Marles, It’s, Constant, Daniel Duggan's, Mike Burgess, Ben Hancock, ” Hancock, Hancock, hasn’t, Dan didn’t, “ TFASA, he’s, Xi Jinping, reunify, Joe Biden, Ng Han Guan, Xi, Donald Trump, “ Don’t Organizations: Australia CNN —, Marine Attack Squadron, Intelligence, Security, Australian Security Intelligence Organisation, Lithgow Correctional Centre, Australian Broadcasting Corporation, ABC, US Marines, US State Department, of Defense Trade, Test Flying Academy of South, CNN, TFASA, Embassy, Former, Saffrine Duggan Training, Australian Defence Force, RAF, UK Defence Ministry, UK Armed Forces, Australia’s, New Zealand’s Defence Force, Reuters, Marles, ASIO, Buckeye, Marine Corps, US Navy, Aircraft, Training Squadron, US Department of Defense, Harrier, Getty, Pacific Locations: Brisbane, Australia, United States, Yuma , Arizona, China, Beijing, Lithgow, Sydney, Australian, Test Flying Academy of South Africa, Tasmania, South Africa, Former US, New South Wales, Persian, Asia, Townsville, Pensacola, Fla, Western, Taiwan, AFP

[1/2] U.S. climate envoy John Kerry, at right walks next to U.S. Ambassador to China Nicholas Burns as they arrive for meetings at the Great Hall of the People in Beijing, Wednesday, July 19, 2023. Ng Han Guan/Pool via REUTERSBEIJING, July 19 (Reuters) - Climate change is a "universal threat" that should be handled separately from broader diplomatic issues, U.S. climate envoy John Kerry told Chinese Vice-President Han Zheng on Wednesday after two days of what he called constructive but complex talks. Acknowledging the diplomatic difficulties between the two sides in recent years, Kerry said climate should be treated as a "free-standing" challenge that requires the collective efforts of the world's largest economies to resolve. Kerry told reporters earlier that his talks with Chinese officials this week have been constructive but complicated, with the two sides still dealing with political "externalities", including Taiwan.

Persons: John Kerry, China Nicholas Burns, Ng Han Guan, Han Zheng, Kerry, Wang Yi, Premier Li Qiang, Xie Zhenhua, Han, Nancy Pelosi, It's, Valerie Volcovici, David Stanway, Stephen Coates Organizations: of, People, REUTERS, Premier, . House, Thomson Locations: U.S, China, Beijing, REUTERS BEIJING, Europe, Asia, United States, Dubai, Paris, Taiwan

☆ Morgan Stanley has tech to thank for what could boost a long-dormant part of its business
▼ + stars: | 2023-07-17 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Morgan Stanley (MS) is set to report quarterly earnings before the opening bell Tuesday. While working on a transition to depend more on wealth management, investment banking is still an important aspect of Morgan Stanley's overall business. Morgan Stanley had a hand in the Cava IPO as a book-runner. It pays us to be patient with the stocks of Morgan Stanley and Wells Fargo, which have been underperformers year-to-date compared to the S & P 500 . Morgan Stanley will likely benefit as companies turn to its investment banking services for ambitious deals.

Persons: Morgan Stanley, There's, Morgan, Morgan Stanley's, Goldman Sachs, Jim Cramer, Jim, Lina Khan, Activision Blizzard, IPOs, Wells, dealmakers, there's, Jim Cramer's, Bing Guan Organizations: Investment, JPMorgan, IB, Federal Trade, Microsoft, Activision, Renaissance Capital, Companies, Semiconductor, ARM Holdings, Silicon Valley Bank, Federal Reserve, Club, Nasdaq, CNBC, Bloomberg, Getty Locations: Cava, Silicon, Wells Fargo, U.S

☆ EV Charging Networks Prepare for Cyberattacks
▼ + stars: | 2023-07-14 | by ( Catherine Stupp | ) www.wsj.com time to read: +6 min

Efforts to address the security of EV charging stations are in early stages. A U.S. infrastructure law passed in 2021 includes $7.5 billion in funding for states to expand EV charging stations. Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. Tesla is poised to dominate EV charging in the U.S., and auto manufacturers including General Motors, Ford, Volvo and Rivian signed on to adopt Tesla’s charging standard this year. Last year, the city of Amsterdam for the first time included cybersecurity requirements in a public tender for public EV charging stations.

Persons: ”, van, Biden, cybersecurity, Tomas Bodeklint, Anjos Nijk, ” Nijk, Jay Johnson, ” Johnson, Tesla, Rivian, Teza Mukkavilli, Mukkavilli, BING GUAN, REUTERS ChargePoint, van den, Jaap de Munnik, de Munnik, Catherine Stupp Organizations: European, Research Institutes of Sweden, EV, European Network, Cyber Security, Sandia National Laboratories, “, Nationwide, Sandia, General Motors, Ford, Volvo, Benz Group, N.M, REUTERS, Enza Locations: Europe, U.S, Netherlands, European Union, South Dakota, York, North America, Corona, ElaadNL, Amsterdam, Dutch

☆ Analysis: Investors shelve China assets before bigger stimulus
▼ + stars: | 2023-06-23 | by ( Summer Zhen | ) www.reuters.com time to read: +5 min

[1/2] A view of the city skyline, ahead of the annual National People's Congress (NPC), in Shanghai, China February 24, 2022. A global fund manager survey by BofA Securities showed shorting Chinese stocks was the second-most "crowded" trade in June, after going long on big tech. "I can't believe that there is anymore bad news to absorb," said Andy Maynard, head of equities at China Renaissance. Restoring confidence is looking increasingly like a long-term project and investors are positioning for a longer game and a slower rebound. "We are all looking for something a bit more decisive in helping to restore animal spirits, investor confidence and market confidence, and I think that hope may be still at risk of being disappointed."

Persons: Aly, Morgan Stanley, Hong, Dong Chen, Andy Maynard, Morgan, James Liu, Guan Yi, Summer Zhen, Jason Xue, Tom Westbrook, Jacqueline Wong Organizations: National People's Congress, REUTERS, BofA Securities, Pictet Wealth Management, China, Reuters, G Investments, Thomson Locations: Shanghai, China, HONG KONG, Beijing, Asia, Singapore, Hong Kong, Pacific

☆ Quality of new vehicles in US declining on more tech use, study shows
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

Build quality of certain parts such as audio systems and cup-holders have resulted in quality issues, the report said, which collected data from 93,380 purchasers and lessees of 2023 model-year vehicles. Problems per 100 vehicles (PP100) rose 30 PP100 during the past two years, the report said. A lower score reflects higher vehicle quality. The wide range of quality problems in the automotive industry is "a phenomenon not seen in the 37-year history of the Initial Quality Study", said J.D Power's senior director of auto benchmarking Frank Hanley. Dodge ranked the highest overall in terms of initial quality, while Chrysler and Volvo were jointly ranked lowest, according to J.D.

Persons: Bing Guan, J.D Power's, Frank Hanley, Hanley, Nathan Gomes, Shilpi Majumdar Organizations: Tesla Inc, Dodge, Chrysler, Volvo, Thomson Locations: United States, Carson , California, U.S, Bengaluru

[1/2] A view of signage at a FedEx Ground distribution center in Carson, California, U.S., September 16, 2022. REUTERS/Bing Guan/File PhotoLOS ANGELES, June 20 (Reuters) - FedEx (FDX.N) on Tuesday said it will merge its contractor-based Ground delivery operations in Canada into its company-operated Express unit and convert contractors into employees. FedEx made a similar change in the U.S. states of Alaska and Hawaii last year. Still, the company said there will be U.S. markets where packages shift from Express to Ground, its outsourced delivery arm. In those cases, the company said it would continue to use delivery contractors as part of its "hybrid" worker model.

Persons: Bing Guan, D.E, Shaw, Lisa Baertlein, Leslie Adler, Lisa Shumaker Organizations: FedEx, REUTERS, United Parcel Service, Company, Thomson Locations: Carson , California, U.S, Canada, Alaska, Hawaii, Memphis , Tennessee, Los Angeles

It was by a young Chinese pitch invader, eager to meet his hero, the seven-time winner of the Ballon d’Or. Videos that have gone viral on Chinese social media show the young fan leaping from the stands before sprinting toward the Argentine striker – who like him was wearing the number 10 jersey – and giving him a hug. A Chinese fan runs onto the pitch to hug soccer superstar Lionel Messi during a friendly match between Argentina and Australia at the Worker's Stadium in Beijing on June 15. Ng Han Guan/APWith the crowd cheering three security guards then give chase, the first of them falling over as the young fan evades his grasp. On Chinese social media, many users – football fans or otherwise – celebrated the young fan’s sprint across the grass pitch as a liberating moment.

Persons: Lionel Messi –, –, Messi, Lionel Messi, Ng Han Guan, Emiliano Martinez, ”, Thomas Peter, ” “ Messi, I’m, flailing, “ Organizations: Beijing CNN, Australia, Argentine, Workers, Global Times, Messi, Reuters, FIFA, De Football Association, Indonesia Locations: Beijing, Argentina, Australia, China, Jakarta

☆ How we feel about banks being required to bolster rainy-day funds after SVB failure
▼ + stars: | 2023-06-05 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

The Wall Street Journal reported Monday that financial industry regulators could announce a proposal, as early as this month, seeking to increase the rainy-day funds of big banks. Morgan Stanley and Wells Fargo, while never a worry during the recent mini-banking crisis, have both seen their stocks decline in the wake of the SVB collapse and struggle to regain their footing. Should Morgan Stanley really be penalized more than others just because it offers fee-based wealth management solutions, which through strong execution have grown? However, we're inclined to consider a capital requirement change opportunistically, especially as it relates to Morgan Stanley. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: financials Morgan Stanley, Wells, it's, Morgan Stanley, isn't, Jim Cramer's, Jim Cramer, Jim, Bing Guan Organizations: Street, Bank, WSJ, Assistance, CNBC, Bloomberg, Getty Locations: Wells Fargo

☆ These are the top 10 stocks held by 'Big Short' investor Michael Burry
▼ + stars: | 2023-05-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Michael Burry invested a lot of money into the stock market last quarter, according to 13F filings. The "Big Short" investor who has held a bearish tilt towards stocks initiated 17 new positions last quarter. These are the top 10 stocks held by Burry's Scion Asset Management as of March 31. Burry posted on Twitter on multiple occasions over the last few months that he had a bearish view on stocks. These are the top 10 stocks held by Burry's Scion Asset Management as of March 31.

☆ Companies are betting on a demand rebound in second half of year, DHL says
▼ + stars: | 2023-05-11 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

That marks the second consecutive month that U.S. imports increased and are higher than 2019 levels, according to data provided to CNBC from Descartes Datamyne, a global trade data platform. The combination of a slow ramp up from "Zero Covid" in China and the reopening of manufacturing plants in the country delayed exports. The top Vietnamese imports in the latest data are wrought iron fencing and plant stands, imported for companies including Home Depot. Black jewelry bags for Zales and men's and boy's t-shirts for Nike rounded out the list of U.S. imports data from China, Vietnam, Thailand, and India reviewed by CNBC. In April, the trade data shows that vitamins and containers of pencils were bound from India to Walmart , and zip polos and t-shirts for Guess .

☆ Microsoft’s LinkedIn Closes China App as It Cuts More Than 700 Jobs Worldwide
▼ + stars: | 2023-05-09 | by ( Newley Purnell | Rachel Liang | ) www.wsj.com time to read: 1 min

LinkedIn exited social media in China in 2021. Photo: Ng Han Guan/Associated PressHONG KONG— Microsoft ’s LinkedIn said it is closing down its China-focused jobs app and cutting 716 positions globally, citing slower revenue growth and changing customer behavior as it becomes the latest U.S. tech company to trim its workforce amid economic pressures. LinkedIn Chief Executive Ryan Roslansky said in a letter to employees Monday that teams globally will be reorganized, and that with customer demand changing, the company would use more vendors.

☆ LinkedIn layoffs: Company to cut 716 jobs, exit China app InCareer amid 'challenging' economic climate
▼ + stars: | 2023-05-09 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —LinkedIn, the world’s largest social media platform for professionals, is cutting 716 positions and shutting down its jobs app in mainland China, the California-based company announced. Ng Han Guan/APAs part of the move, LinkedIn will phase out InCareer, its app for mainland China, by August 9. LinkedIn is the last major Western social media app still operating in mainland China. Maimai was launched in 2013 and dubbed the Chinese version of LinkedIn. “We’re also facing a significantly more challenging operating environment and greater compliance requirements in China.”

☆ Beijing’s Bain Raid, Espionage Law Are Self-Sabotage
▼ + stars: | 2023-04-28 | by ( Nathaniel Taplin | ) www.wsj.com time to read: 1 min

It’s Party time. Photo: Ng Han Guan/Associated PressChina’s economy is bouncing back quicker than expected. So, unfortunately, are the sort of heavy-handed policies that spooked investors during China’s last big expansion in 2021. On Wednesday China updated its counterespionage statute to cover all “documents, data, materials or items related to national security,” a considerably wider remit than the previous “state secrets and intelligence.” Recent weeks have also brought a raid of Bain & Co.’s Shanghai offices, the detention of Beijing staff at New York-based due diligence firm Mintz Group, and the arrest of a Japanese pharmaceuticals employee for alleged spying.

☆ Chinese Warships and Planes Test Taiwan Defenses
▼ + stars: | 2023-04-28 | by ( Karen Hao | ) www.wsj.com time to read: 1 min

In recent years, the Chinese military has engaged in increasingly bold maneuvers around Taiwan. Photo: Ng Han Guan/Associated PressHONG KONG—Dozens of Chinese military aircraft and navy vessels were detected around Taiwan early Friday, including one that flew around the island, the Ministry of National Defense said. The 38 warplanes and six ships represented the biggest deployment since China sent 91 aircraft and a dozen vessels to greet Taiwan President Tsai Ing -wen the day after her return from a visit to the U.S. this month. China’s Communist Party claims Taiwan, a self-ruling island, as part of its territory and had strongly protested Ms. Tsai’s visit.

Unlike the chubby, fluffy image of her younger self, 22-year-old Ya Ya has appeared skinny in recent photos, with her black and white coat missing clumps of fur. But Le Le died suddenly of heart disease in early February, further fueling suspicions of mistreatment. Throughout the past weeks, Ya Ya regularly appeared as a top trending topic on Weibo, each time attracting hundreds of millions of views. Allegations of mistreatmentWhen Ya Ya and Le Le arrived at Memphis in 2003, it was a huge deal for the city. A petition by Panda Voices to bring Ya Ya and Le Le back to China on change.org has garnered 193,000 signatures.

☆ Managing Rich People’s Money Isn’t Always Easy
▼ + stars: | 2023-04-19 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Morgan Stanley procures its deposits via a network of affluent clients. But it isn’t just free money. Morgan Stanley ’s huge wealth management business generates significant net interest income, about 15% of its net revenue in the first quarter. So it was able to benefit from the same rising-rate forces still helping a lot of its large retail banking peers. That provided a ballast to its Wall Street unit, which like most peers, including Goldman Sachs , suffered from drop-offs in activity compared with a year earlier.

☆ Forget Macron, Europe and the U.S. See Eye-to-Eye on China’s Threat
▼ + stars: | 2023-04-19 | by ( Greg Ip | ) www.wsj.com time to read: 1 min

Photo: Ng Han Guan/Pool/ShutterstockIn its geopolitical competition with the West, China has long sought to divide the U.S. from Europe. Last week it appeared to score a coup when French President Emmanuel Macron declared Europe wouldn’t follow the U.S.’s approach toward Beijing. In fact, the European Union has decisively changed its approach to China in the past year. Europeans use milder language than Americans, saying they wish to “de-risk” their economic relationship with China, not “decouple.” But in substance, European de-risking and American decoupling look much the same. Indeed, Europe is erecting economic defenses against China that in some cases go further than the U.S.

☆ China's 'Belt and Road' grew out of a lending spree. Now those loans may be its problem
▼ + stars: | 2023-04-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +8 min

Bloomberg | Getty ImagesAt its peak, China's Belt and Road Initiative was seen as the centerpiece of Beijing's engagement with the world. According to the report, China issued 128 emergency rescue loans worth $240 billion to 22 countries — including Pakistan, Sri Lanka and Turkey, among others. 'Trying to salvage Belt and Road'Chinese efforts to revamp Belt and Road have been underway since 2020, according to one observer. "A nod to the concern that many Belt and Road projects were not economically viable to begin with. "The increased indebtedness in many Belt and Road countries is a direct consequence of Beijing's overshooting in the pre-2020 phase," said Zhong.

☆ 4 things every small-business owner should consider before launching a brand podcast
▼ + stars: | 2023-04-04 | by ( Erin Greenawald | ) www.businessinsider.com time to read: +8 min

Brand podcasts can bring in new customers and nurture relationships with existing partners. They give technical advice on cost, production, and careful considerations for your launch strategy before starting a brand podcast. Insider spoke with five small-business owners to learn how they ran successful brand podcasts while prioritizing their actual businesses. Olivia Dreizen Howell, a cofounder of Fresh Starts Registry and the brand podcast "A Fresh Story," swears by the free Spotify for Podcasters editing tools. Leverage your network for launchIt's easy to lose momentum if you launch a brand podcast and don't quickly see some traction.

REUTERS/Bing Guan/File PhotoNEW YORK, April 2 (Reuters) - New York City police have thrown up metal barriers around Trump Tower and blocked roads near Manhattan Criminal Courthouse as they brace for potential protests ahead of Donald Trump's expected surrender to prosecutors on Tuesday. The downtown courthouse, home to criminal and supreme courts, will shut down some courtrooms ahead of Trump's expected appearance, a court official said. However, many Trump supporters online have expressed wariness about public demonstrations, even after Trump called for them, concerned they could be arrested. Trump is expected to fly to New York on Monday from Florida and spend the night at Trump Tower, before arriving early Tuesday morning at the courthouse, a Trump adviser said. A court official told Reuters that courtrooms on higher floors of the courthouse will be closed at 1 p.m., shortly before Trump's expected 2:15 p.m. (1815 GMT) arraignment.

☆ Podcasts can help small-business owners build their brands and win new customers. Here's how.
▼ + stars: | 2023-03-28 | by ( Erin Greenawald | ) www.businessinsider.com time to read: +8 min

Insider talked to small business owners who say brand podcasting has helped them build trust and credibility with customers. The channel is a cost-friendly way to connect with prospective customers, as well as other industry leaders. Podcasts can help you scale your businessMany small-business owners see podcasts as an important way to acquire loyal customers. Courtesy of Tania BhattacharyyaBhattacharyya added that she uses her podcast episodes to help guide prospective customers through the sales process. Bhattacharyya had a podcast episode on the subject that she was able to send her.

☆ California braces for next bout of heavy rain, snow and high winds
▼ + stars: | 2023-03-21 | by ( Steve Gorman | ) www.reuters.com time to read: +5 min

High-wind warnings and advisories were posted for a vast region stretching from the Mexico border through Los Angeles to the San Francisco Bay area. The National Weather Service (NWS) issued an excessive- rainfall notice for much of the Southern California coast, warning of an at least a 40% chance of showers exceeding flash-flood conditions. Heavy showers began drenching the Los Angeles region before dawn and triggered some street flooding but tapered off by early afternoon. Up to 3 inches (7.6 centimeters) of rain was expected in coastal regions and valleys of Southern California, and as much as 6 inches in lower mountains and foothills, the NWS said. Reporting by Steve Gorman in Los Angeles.

REUTERS/Bing GuanMarch 14 (Reuters) - U.S. President Joe Biden will announce an executive order on Tuesday that reinforces background checks for gun buyers in what the White House is promoting as the most comprehensive policy the president can enact without Congress. In a country with more than 40,000 gun deaths per year, Biden is betting that voters will embrace more proactive gun control. The Biden administration is pointing to public opinion polls that show a majority of Americans support background checks. A Reuters/Ipsos poll last year found 84% of respondents supported background checks for all firearms sales and 70% backed red flag laws. Some gun rights advocates oppose background checks, saying they infringe on constitutional rights to possess arms while failing to stop criminals from getting them.

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