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CNN —With two presidential candidates fighting over a mere 538 Electoral College votes, a tie scenario is more than possible. Those individual, competitive electoral votes in Maine and Nebraska become hugely consequential in potential tie scenarios. If there’s a 269-269 tie, or if a third party or independent candidate wins electoral votes and keeps a candidate from reaching an Electoral College majority of 270, the next step is the same. Has a contingent election happened in the years since the tied election of 1800? In 1876, when there was a contested outcome, the contingent election system was bypassed.
Persons: Thomas Jefferson, Aaron Burr, , Kamala Harris, Joe Biden, there’s, It’s, it’s, Mike Johnson, , Harris, Federalist John Adams, Jefferson, Burr, Alexander Hamilton, Andrew Jackson, John Quincy Adams, Jackson, Robert M, Johnson, Martin Van Buren, South Carolina –, Republican Rutherford B, Hayes, Samuel Tilden Organizations: CNN, Electoral, Democratic, Republicans, Win, Electoral College, Congressional Research Service, CRS, Senate, Democrat, Democrats, Republican, Trump, Federalists, Jefferson’s Democratic, Federalist Locations: Wisconsin , Michigan, Arizona, Nevada, Nebraska, Pennsylvania, Georgia, Maine, California, Texas, Delaware, Wyoming, Washington, DC, Minnesota, North Carolina, – Florida, Louisiana, South Carolina, Oregon
Senator JD Vance of Ohio, the Republican vice-presidential nominee, is a pioneer in what friends and critics alike call a new form of Republican economic thinking. It’s a vision to steer the economy toward advancing socially conservative goals, even when those policies defy conservative orthodoxy about government intervention in private markets. Mr. Vance has built his brief political career on that new brand of economic populism. He has championed efforts to reward families for having children, with tax breaks that some Republican economists say discourage people from working. “He’s a social conservative first,” said Michael R. Strain, an economist at the conservative American Enterprise Institute in Washington who has known Mr. Vance and discussed policy with him for years, well before he decided to enter politics.
Persons: JD Vance, Ohio, Vance, , Michael R Organizations: Republican, American Enterprise Institute Locations: Washington
Related stories"MCOTEA uses a mission-oriented context in operational testing to relate evaluation results to the impact on the Warfighter's ability to execute missions," the guidebook states. "Focusing on the mission context during operational test planning and execution provides a more robust operational test environment and facilitates evaluation goals." While the real-world MADIS system will be equipped not only with Stinger missiles but also with 30mm machine gun turrets, officials said the tests so far have only involved training ammo. This fall, 3rd LAAB will finally get its first 13 MADIS systems right as the weapon achieves initial operating capability, marking it ready for combat. Program managers said earlier this year that the Marine Corps wants a total of 190 MADIS and 21 L-MADIS systems.
Persons: , USS Boxer, jammer, MADIS, Cpl, Apollo Wilson, Lance Cpl, Jack C, Howell MADIS, Morgan Blackstock, Neil Mabini Col, Andrew Konicki, Blackstock, Taylor Barefoot, Barefoot, Robert Barclay, Barclay, Matthew Romonoyske Organizations: Service, Marine Air Defense Integrated, Marines, Air Battalion, Business, Tactical Vehicles, USS, 22nd Marine Expeditionary Unit, Polaris, Military, . US Marines, Marine Air Defense, US Marine Corps, Marine Corps, DoD, MCOTEA, Marine Air Defense Integrated System, MADIS, Marine Corps Systems Command, Sandboxx, " Systems, Mk1, US Navy, Air Defense, Corps, Unmanned, Systems, US Marines Locations: Strait, Hormuz, Yuma, America, Philippine, Camp Pendleton , California, Washington ,, Bataan
As president of Brazil, Jair Bolsonaro was often called the Trump of the Tropics, an association the Bolsonaro family actively cultivated. From the moment he was elected in 2018, he loudly celebrated the United States — in his first year in office, he even saluted the U.S. flag — but he saved his most intense loyalty for one American. For decades, the Brazilian right had looked to the United States, and when Donald Trump began to transform the rules of political discourse, it took note. We realized we could take a tougher stand against the left-wing transformation taking place across our continent.”As president, Bolsonaro seemed eager to import as much of the MAGA movement to Brazil as possible. So when Trump supporters attacked the U.S. Capitol on Jan. 6, 2021, to protest a “stolen” election, many Brazilians worried that Bolsonaro supporters might try something similar.
Persons: Jair Bolsonaro, Trump, , Bolsonaro, Donald Trump, , Damares Alves, MAGA, Luiz Inácio Lula da Silva, holing, Bolsonaristas, Jan, Lula Organizations: Trump, United Nations, Twitter, U.S, Capitol, Workers ’ Party, Military Locations: Brazil, United States, U.S, Florida, Orlando, Brasília
Rate cut on horizonThe Federal Reserve expectedly kept its benchmark rate steady at 5.25% to 5.50% on Wednesday, but Chairman Jerome Powell signaled the U.S. central bank could cut the rate in its September meeting. U.S. stocks rallyU.S. stocks jumped after Powell said a rate cut in September was "on the table." Oil gainsU.S. crude oil futures rose 4% on Wednesday after Hamas political leader Ismail Haniyeh was assassinated in Tehran. Asian stocks mixedAsian markets were mixed on Thursday with Japan stocks tumbling while Australia's S&P/ASX 200 touched a new all-time high. [PRO] Rate cut beneficiariesCNBC Pro screened for stocks in the S&P 500 that tend to rise the most when short-term rates start to decline.
Persons: expectedly, Jerome Powell, Powell, Ismail Haniyeh, Israel, Oil Organizations: New York Stock Exchange, Wall, CNBC, Nasdaq, Dow Jones, Nvidia, Devices, Boeing, Treasury, Facebook, Google, Meta, Oil, West Texas Intermediate, Nikkei, Developers, Bank of, Singapore Airlines, U.S Locations: New York City, U.S, Tehran, Iran, Israel, Beirut, Japan, Shanghai
Roasters and coffee experts are also signaling that prices could remain higher for longer, as factors like climate change reduce the coffee global supply. Climate change drives prices up“Coffee is more sensitive to changes in temperature than many other crops,” said Michael Hoffmann, professor emeritus at Cornell University’s College of Agriculture and Life Sciences. “Climate change is getting worse. According to Delany, coffee prices are typically between 100 to 140 cents, but have stayed consistently above that range for the past three years. “There’s a drum beat in the background that is climate change, and that is causing problems,” he said.
Persons: CNN —, Tomas Edelmann, , Hamburgo, Miranda, Ryan Delany, there’s, Michael Hoffmann, , Brazil sneezes, Delany, Arabica, ” Neil Rosser, Lavazza, Miranda Edelmann, Giuseppe Lavazza, Nestle, Sharon Zackfia, William Blair, Rosser, ” Delany, you’re Organizations: CNN, Coffee, International Coffee Organization, United Nations, Coffee Trading Academy, Cornell University’s College of Agriculture, Life Sciences, US Department of Agriculture, Commodities, Financial Times, Nestle Locations: Chiapas, Mexico, Brazil, Arabica, Vietnam, Ukraine, Red
Rate cut on horizonThe Federal Reserve expectedly kept its benchmark rate steady at 5.25% to 5.50% on Wednesday, but Chairman Jerome Powell signaled the U.S. central bank could cut the rate in its September meeting. U.S. stocks rallyU.S. stocks jumped after Powell said a rate cut in September was "on the table." Oil gainsU.S. crude oil futures rose 4% on Wednesday after Hamas political leader Ismail Haniyeh was assassinated in Tehran. Japan currency interventionJapanese authorities spent 5.53 trillion yen, or $36.8 billion, to support the yen in July, official data showed. [PRO] Rate cut beneficiariesCNBC Pro screened for stocks in the S&P 500 that tend to rise the most when short-term rates start to decline.
Persons: expectedly, Jerome Powell, Powell, Ismail Haniyeh, Israel, Oil Organizations: CNBC, Nasdaq, Dow Jones, Nvidia, Devices, Boeing, Treasury, Facebook, Google, Meta, Oil, West Texas Intermediate, U.S Locations: U.S, Tehran, Iran, Israel, Beirut, Japan
Japan will retain its basic approach on the yen with intervention remaining an option to tackle excessively volatile moves in the exchange rate, the country's new top currency diplomat Atsushi Mimura told Reuters. "It has been internationally agreed that measures including interventions are allowed when necessary," he added. Previously head of the ministry's international bureau, the 57-year-old became vice finance minister for international affairs on Wednesday — a post that oversees Japan's currency policy and coordinates economic policy with other countries. Mimura's appointment comes as the Japanese currency shows tentative signs of recovery from 38-year lows, as investors unwound their long-running bets against the currency ahead of a Bank of Japan meeting this week. While a weak yen gives exports a boost, it has become a source of concern for policymakers by pushing up the cost of imports and hurting consumption.
Persons: Atsushi Mimura, Mimura Organizations: Reuters, Bank of Japan Locations: Japan
Along with its S24 series of smartphones, foldable devices, smartwatches and now the Galaxy Ring, Samsung is hoping to lock users into its world of products held together with its suite of artificial intelligence features, known as Galaxy AI. Arjun KharpalOne of the things Samsung said was look, the ring is one product, but we've got the watch, we've got the smartphone. I think that's the right approach for Samsung, I don't think they have unrealistic expectations for volumes on this. And you'd feel like if there was some sort of Apple ring, it would do pretty good volumes. Do you think Samsung is seriously looking at ways to monetize this via subscriptions or other kinds of service business model?
Persons: aren't, Tom Chitty, Ben Wood, Meta's Ray, Arjun, Tom Chitty I've, I've, we've, Arjun Kharpal, let's, It's, That's, it's, you've, they've, there's, they're, someone's, I'm, that's, you'll, Ben Wood It's, smartwatch, Arjun Kharpal Apple's, Ben Wood They've, Tim Cook, He's, who'd, Tom Chitty Diamond, somebody's, who've, wasn't, Samsung hasn't, we'll, Ben, they'll, Will, wearables, Kharpal, Arjun Kharpal Tom, Tom, Tom Chitty We'll Organizations: Samsung, South, Galaxy, CNBC, CCS Insight, Mobile, Apple, Garmin, Apple Watch, U.S, Vision, Samsung Electronics, Google, MWC Locations: South Korean, Paris, France, beyondthevalley@cnbc.com, There's, Finland, London
But addressing 14 risk factors over the course of one’s life — starting in childhood — could prevent or delay nearly half of cases, according to a large report by 27 dementia experts. “The progress in preventing and treating dementia is accelerating.”The initial 12 risk factors were linked with 40% of cases, but the new report suggests addressing the 14 risk factors could help eliminate or delay 45% of dementia cases, said Livingston, a professor of psychiatry of older people at University College London. This “critical” update calls attention to two risk factors that preventive neurologist Dr. Richard Issacson says his clinical practice has been evaluating for over a decade. Influencing brain functionThe report doesn’t establish with certainly that these risk factors directly cause dementia, experts said. But other research has provided theories on the link between these vulnerabilities and dementia risk.
Persons: CNN —, , Dr, Gill Livingston, Livingston, Richard Issacson, Isaacson, wasn’t, It’s, Klaus Ebmeier, Ebmeier wasn’t, ” Livingston, Glen R, Finney, Alzheimer’s, Susan Kohlhaas, Kohlhaas, , ” Finney Organizations: CNN, Lancet, University College London, University of Oxford, American Academy of Neurology, Alzheimer’s Research Locations: midlife, Florida, Wilkes Barre , Pennsylvania,
New Japanese 1000 Yen banknote on display inside the Currency Museum of the Bank of Japan's Institute for Monetary and Economic Studies. Japanese authorities spent 5.53 trillion yen ($36.8 billion) to shore up the yen in July, official data published Wednesday showed. The move was expected to mark the Bank of Japan's highest interest rates since 2008. It marks a stark contrast from the start of the month, when the Japanese currency fell to 161.96 per dollar for the first time since December 1986. The yen has been combating sustained pressure since the BOJ ended its monetary policy of negative interest rates in March.
Organizations: Currency Museum, Bank of Japan's Institute for Monetary, Economic Studies, Japan's Ministry of Finance, U.S ., of Japan's
CNN —Babies who have a peanut allergy are now being offered potentially life-changing treatment at hospitals across Australia in a world-first program aimed at building tolerance to them. The ADAPT OIT Program is open to infants under 12 months who have been diagnosed with a peanut allergy and who are under an allergy specialist at one of the ten pediatric hospitals across five states which are participating. “Australia is the allergy capital of the world and we have 5 million people with allergic disease and peanut allergy affects around 3 per cent of 12-month-old children in Australia. Adam Fox is a London-based professor of paediatric allergy and chair of the National Allergy Strategy Group in the UK. He has spent many years seeing patients with peanut allergy and regularly posts on social media about it.
Persons: Murdoch, MCRI, , Kirsten Perrett, ” Perrett, Perrett, , Hunter Chatwin, Kirsten, Adam Fox, ” Fox, ” CNN’s Jacqueline Howard Organizations: CNN, Australia’s, Allergy, Excellence, Murdoch Children’s Research, Royal Children’s Hospital, National Allergy Strategy, American Academy of Pediatrics, AAP Locations: Australia, MCRI, Melbourne, London, United States, United Kingdom
Yen braces for BOJ decision with risk events aplenty
  + stars: | 2024-07-31 | by ( ) www.cnbc.com   time to read: +4 min
That is followed by inflation readings in France and the wider euro zone later in the day, alongside the Federal Reserve's policy decision, which takes center stage. With plenty of risk events to mark the month-end, currency moves were largely subdued in early Asia trade as investors were hesitant to take on fresh positions. "We anticipate that the BOJ will increase interest rates to around 0.25% at the upper limit." "A rate hike could help stabilize the yen's current levels, whereas the absence of a rate hike may trigger renewed selling pressure driven by carry trades." The yen similarly made headway against other currencies, with the euro falling 0.07% to 165.07 yen and the Australian dollar slipping 0.12% to 99.80 yen.
Persons: Gregor Hirt, Sterling eked, Julien Lafargue Organizations: Bank of Japan, Federal, CIO, Allianz Global Investors, Traders, Barclays Private Bank, New Zealand Locations: Bank, France, Asia
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewFollowing Elon Musk's bold assertions about "solving autonomy," a Truist Securities analyst took a Tesla Model Y out for a ride to test its Full Self-Driving capabilities. In a note seen by Business Insider, Truist analyst William Stein said the technology was "arguably worse than last time." This story is available exclusively to Business Insider subscribers. He said during the company's second-quarter earnings call that he would be "shocked" if the first Robotaxi ride wasn't possible next year, although he was unable to give an exact timeline.
Persons: , Elon, William Stein, Stein, FSD, Tesla, Musk, Tesla didn't Organizations: Service, Truist Securities, Tesla, Business Locations: New York
Multiple landslides triggered by torrential rains in southern India have killed 49 people, and many others are feared trapped under the debris, officials said Tuesday, with rescue operations being hampered by bad weather. PM Manoj, press secretary to the Kerala chief minister, said the landslides had killed at least 49 people so far. "We are trying every way to rescue our people," state Health Minister Veena George said. Kerala is prone to heavy rains, flooding and landslides. India regularly has severe floods during the monsoon season, which runs between June and September and brings most of South Asia's annual rainfall.
Persons: Manoj, Veena George, Narendra Modi, Modi, Roxy Mathew Koll, Koll Organizations: Response Force, Vehicles, Authorities, Indian, Indian Meteorological Department, Meteorology Locations: Wayanad, India, Kerala state's Wayanad, Kerala, Ghats, Pune
Read previewCelebrity chef Bobby Flay, 59, credits Pilates for helping him with his back. Once cardio is out of the way, he then gets into his Pilates workout. Advertisement"Standing hunched over a cutting board for 35 years, I put a very decent curve in my spine. Pilates has reversed it and made my posture so much better, and it helps me stretch," Flay said. "This should include strength training and cardiovascular exercise alongside Pilates," Lee continued.
Persons: , Bobby Flay, Flay, There's, Hailey Bieber, Myles Garrett —, Martha Stewart, Dawance, Elizabeth Lee, Lee Organizations: Service, Wall, Business, Research, NFL Locations: Singapore
New York CNN —Tesla CEO Elon Musk says anyone who doubts how valuable robotaxis will make the company should test drive its latest self-driving car. A Wall Street analyst did just that – and said the car almost crashed. The experience of WIlliam Stein, an analyst with Truist Securities, is not unique; others have also reported problems with Tesla’s full self driving, or FSD, feature. But a note from Stein raises questions as to whether the autonomous driving and robotaxis Musk is betting Tesla’s future on are as close as he claims. Tesla’s FSD driver-assist feature is sold as an $8,000 option.
Persons: Elon Musk, WIlliam Stein, Stein, Tesla’s, , Truist’s Stein, Yuki Iwamura, Musk, That’s, , ” Musk, ” Tesla, FSD Organizations: New, New York CNN, Truist Securities, Tesla, Bloomberg, Traffic Safety Administration, NHTSA Locations: New York,
Instead, a series of negotiations led to an eventual compromise decision limiting the Idaho law and temporarily forestalling further limits on abortion access from the high court. This exclusive series on the Supreme Court is based on CNN sources inside and outside the court with knowledge of the deliberations. The Idaho law had exemptions only to prevent death of the pregnant woman and in instances of rape or incest. It issued formal guidance saying the Emergency Medical Treatment and Labor Act (EMTALA), which requires stabilizing treatment regardless of a patient’s ability to pay, would preempt any state abortion ban in situations when an emergency termination was needed. Idaho lost in an initial proceeding in a US district court, as a judge issued a temporary injunction against the abortion ban.
Persons: Roe, Wade, Biden, John Roberts, SCOTUS, Elizabeth Prelogar, Idaho’s, Amy Coney Barrett, , Roberts, Brett Kavanaugh, Barrett, “ improvidently, ” Barrett, Kavanaugh, , Elena Kagan, , – Samuel Alito, Clarence Thomas, Neil Gorsuch, Alito, Thomas, Sonia Sotomayor, Kagan, Jackson, Sotomayor, Ketanji Brown Jackson, , ” Alito, ” Jackson Organizations: CNN, Supreme, Republican, Democratic, Labor, Justice Department, Idaho, United, Jackson, Health Locations: Idaho, EMTALA . Idaho, SCOTUS Idaho, Sacramento, Dobbs v, Moyle v, United States
As market competition heated up, Tesla started cutting prices, which turned into an industrywide price war that Tesla isn't winning. It's a steep fall, considering Tesla's share of the EV market used to be as high as 80%. Critics balked, but Musk assured the Tesla community that this was the only strategy to save the company. Musk is looking for ways to buy time for Tesla — and one of those ways is to get Trump elected. Preserving Tesla's market position is imperative until he can conjure another product that people are excited to buy.
Persons: Elon Musk, Donald Trump —, Tesla, Trump, Joe Biden's, Kelley Blue, Musk, Ford, , Critics, shouldn't, ZEV, Steve Granitz, Vaibhav Taneja, China's, Elon — Organizations: Elon, Trump, Tesla, White, EV, GM, Getty Images Trump, PAC Locations: China, USA, Shanghai
U.S. Secretary of State Antony Blinken criticised Beijing's "escalating and unlawful actions" in the South China Sea at a summit on Saturday, while his Russian counterpart said Washington has stoked anxiety with its plan for a nuclear deterrence with ally Seoul for the Korean peninsula. Blinken singled out China over its coast guard's hostile actions against U.S. defense treaty ally the Philippines in the South China Sea. The Philippines' small troop presence on a grounded former U.S. navy ship at the Second Thomas Shoal has angered China for years. Blinken discussed Taiwan with Wang and concerns about Beijing's recent "provocative actions", included a simulated blockade during the inauguration of Taiwan President Lai Ching-te, a senior U.S. State Department official said. Wang told Blinken that although communications had been maintained between China and the United States, Washington had not stopped its containment and suppression of Beijing and had even intensified it.
Persons: Antony Blinken, Wang Yi, Beijing's, Blinken, Thomas Shoal, Wang, Lai Ching Organizations: China's, 57th Association of Southeast Asian Nations, Washington, Seoul, U.S, ASEAN Regional Forum, EU, Association of Southeast Asian Nations, ASEAN, Foreign, Taiwan, U.S . State Department Locations: Vientiane, South, China, Philippines, South China, Manila, Russia, India, Australia, Japan, Gaza, Ukraine, North, U.S, Laos, Beijing, Taiwan, United States, Washington
Tiger populations in Thailand are bouncing back
  + stars: | 2024-07-27 | by ( Rebecca Cairns | ) edition.cnn.com   time to read: +7 min
CNN —As Global Tiger Day rolls around, there’s good news for the big cats in Thailand. Thailand Department of National Parks, Wildlife and Plant Conservation/WCS ThailandThe DNP began working with WCS to “build and strengthen site-based protection,” says Jornburom. Thailand Department of National Parks, Wildlife and Plant Conservation/WCS ThailandA ‘conservation-dependent species’While Thailand’s success story offers hope, the outlook across the region is not so optimistic. This has left small, isolated tiger populations in Myanmar, Indonesian Sumatra, and peninsular Malaysia — the latter of which is worrying conservationists after a recent spate of tiger deaths. WEFCOM currently boasts most of the country’s tiger population, and has the potential to support up to 2,000 tigers, according to WCS.
Persons: It’s, Pornkamol Jornburom, she’s, , Pornkamol, WEFCOM, WCS, Stuart Chapman, they’ve, Chapman, Thailand Chapman, ” Stuart Chapman Organizations: CNN, Initiative, Thailand’s Department of National Parks, Wildlife Conservation Society, Tigers, Thailand Department of National Parks , Wildlife, Plant, Patrol, GPS, WWF’s Tigers Locations: Thailand, Wildlife, Kha, Thung, Thung Yai, WEFCOM, Southeast Asia, Singapore, Java, Bali, Vietnam, Laos, Cambodia, Myanmar, Indonesian Sumatra, Malaysia, “ Thailand
is examining numerous metal fragments found near the stage at a campaign rally in Butler, Pa., to determine whether an assassin’s bullet — or potential debris — grazed former President Donald J. Trump’s head, bloodying his ear, according to the F.B.I. and a federal law enforcement official. The bureau has asked to interview Mr. Trump as part of its broader investigation, hoping to provide insights into the shooting and possibly a more complete record of his injury, the official said, speaking on the condition of anonymity to discuss the continuing inquiry. Unanswered questions about the object that struck the Republican nominee for president have lingered since the shooting on July 13, with Mr. Trump claiming that he was struck by a bullet — and casting his survival as an act of divine intervention. officials have been more circumspect, citing the need to analyze the evidence before determining what struck Mr. Trump — a bullet, metal shard or something else.
Persons: Donald J, Trump Organizations: Republican, Mr Locations: Butler, Pa
Dollar firms as commodities slide and carry unwinds
  + stars: | 2024-07-24 | by ( ) www.cnbc.com   time to read: +3 min
Purchasing managers' index figures will be particularly watched in Europe later in the session to see whether they support bets on two European rate cuts by the end of January. The euro held at $1.0848 in Asia trade and sterling , which could rally if PMIs in Britain surprise to the upside and reduce bets on rate cuts, bought $1.2901. Moves in other pairs were even larger, with the euro dropping 1.3% on the yen overnight and hitting a five-week low of 168.79 yen in Asia. Mexico's high-yielding peso dropped 2% on the yen overnight and the Australian dollar is down almost 6% on the yen in two weeks. The Canadian dollar made a six-week low of C$1.3787 per dollar ahead of a central bank meeting later on Wednesday where markets have priced an 84% chance of a 25 basis point rate cut.
Persons: Jason Wong Organizations: Bank of Japan, U.S ., New Zealand Locations: Europe, Asia, Britain, Japan, Wellington, New Zealand, Australia
The Athletic explains exactly how the chaos unfolded and why…What happened during the Argentina vs Morocco match? There were wild scenes in the stands, with a number of cups and bottles thrown towards the celebrating Argentina players. (Arnaud Finistre/AFP via Getty Images)A small number of fans wearing Morocco colours ran onto the pitch and were chased by stewards. The official Olympics match blog also stated that the game had ended. Mascherano’s Argentina take on Iraq at the Groupama Stadium in Lyon, while Morocco are back at the Stade Geoffroy-Guichard to face Ukraine.
Persons: Cristian Medina’s, Stade Geoffroy, Guichard, Etienne, Rahimi, Giuliano Simeone, Diego, Medina, Nicolas Otamendi’s, Munir, Bruno Amione, Arnaud Finistre, Tullio M, Glenn Nyberg, Argentina’s Bruno Amione, Javier Mascherano, , , Mascherano, Thiago Almada’s, It’s, Lionel Messi, Insolito, emoji, Enzo Fernandez, , Fernandez, Amelie Oudea, Victoria Villarruel Organizations: Olympic, Stade, Morocco’s, Atletico Madrid, Getty, Olympics, News, FIFA, Olympic Games, Games, Argentina national, Argentina, French Football Federation, Copa America, Colombia, French, Premier League, Chelsea, Ukraine, Allianz Locations: Argentina, Morocco, Saint, Guichard, Medina, AFP, Egypt, Dominican Republic, Puglia, France, Chelsea, Iraq, Lyon, Ukraine, Nice
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
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