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Chinese Vice Premier He Lifeng attends a joint press conference following the 10th China-EU High-Level Economic and Trade Dialogue at the Diaoyutai State Guesthouse in Beijing, China September 25, 2023. He, 68, replaced internationally respected Liu He as one of China's four vice premiers during its annual parliament session in March. The full scope of his portfolio had been largely unclear until Sunday when state media referred to him as the director of a powerful Communist Party economic body. "He Lifeng mainly implements policies from the top leader," said a policy adviser who spoke on condition of anonymity, referring to Xi. "Now under the leadership of the Party ... there will be closer cooperation among the top economic planner, central bank and the finance ministry."

Persons: Lifeng, Florence, Xi Jinping's, Liu, Xi, Liu He, Li Keqiang, Peng Liyuan, Kevin Yao, Laurie Chen, Joe Cash, Ellen Zhang, Marius Zaharia Organizations: REUTERS, Rights, Communist Party, Central Financial Commission, Harvard, Investors, State Council, Party, Xiamen University, National Development, Reform Commission, Thomson Locations: China, EU, Diaoyutai, Beijing, Rights BEIJING, China's, Washington, Europe, Quanzhou, Fujian, Xiamen, Tianjin, Lincoln

Meta and Facebook logos are seen in this illustration taken February 15, 2022. The ban on such advertising, which targets users by harvesting their data, is a setback for U.S. tech giant Meta Platforms (META.O), the owner of the two social media services, which has opposed efforts to curb the practice. The Norwegian data regulator, Datatilsynet, in September said it had referred the ongoing fine to the European regulator, as its fine was valid in Norway only and due to expire on Nov. 3. Norway is not a member of the EU but is part of the European single market. The decision affects some 250 million Facebook and Instagram users in Europe, Datatilsynet said.

Persons: Dado Ruvic, EDPB, Datatilsynet, Gwladys Fouche, Terje Solsvik, Tomasz Janowski Organizations: Meta, REUTERS, EU, Facebook, European Union, European Economic, European Data Protection, Reuters, Economic, Big Tech, Thomson Locations: Norway, Ireland, Norwegian, Europe

☆ Bank of Japan Backs Away From Rate Cap Amid Persistent Inflation
▼ + stars: | 2023-10-31 | by ( Megumi Fujikawa | ) www.wsj.com time to read: 1 min

The Bank of Japan decision came with an acknowledgment that inflation in the country is more long-lasting than the central bank had expected. Photo: richard a. brooks/Agence France-Presse/Getty ImagesTOKYO—The Bank of Japan said on Tuesday that it would consider its cap on government bond yields as a reference point rather than a hard boundary, backing away from a seven-year-old policy amid persistent inflation. Since 2016, the Bank of Japan has prevented the yield on 10-year Japanese government bonds from rising above a certain level, part of a policy known as yield-curve control. In July, it raised the hard cap to 1% from 0.5%.

Persons: richard Organizations: Bank of Japan, Agence France, Getty, The Bank of, Bank of Locations: TOKYO, The Bank of Japan, Bank of Japan

☆ Japan’s Seven-Year Experiment in Extreme Interest-Rate Control Is Coming to an End
▼ + stars: | 2023-10-31 | by ( Megumi Fujikawa | ) www.wsj.com time to read: 1 min

The Bank of Japan acknowledged that inflation in the country is more long-lasting than it had expected. Photo: richard a. brooks/Agence France-Presse/Getty ImagesTOKYO—The Bank of Japan edged closer to a new era in which it ends the unconventional monetary easing it has long pursued, although Gov. Kazuo Ueda wasn’t ready to declare the old era over yet. The central bank said Tuesday that its 1% cap on the 10-year government bond yield would now be considered a reference rather than a hard limit. It sharply raised its price forecast, saying the inflation rate would likely stay near 3% until early 2025.

Persons: richard, Kazuo Ueda wasn’t Organizations: Bank of Japan, Agence France, Getty, The Bank of Japan Locations: TOKYO

☆ China’s Economy Shows Fresh Signs of Slowing
▼ + stars: | 2023-10-31 | by ( Jason Douglas | ) www.wsj.com time to read: 1 min

Workers at a factory in Nantong, in China’s eastern Jiangsu province. Photo: str/Agence France-Presse/Getty ImagesSINGAPORE—China’s economy suffered a setback as surveys showed factory orders shrank and construction activity slowed, reigniting growth concerns just as activity appeared to be stabilizing. The closely watched surveys show the world’s second-largest economy isn’t out of the woods as it contends with challenges including a slowdown in growth overseas and a drawn-out property bust at home.

Organizations: Agence France, Getty, SINGAPORE Locations: Nantong, China’s, Jiangsu

☆ ‘Disappointed Again’: Ad Companies Suffer as Tech Firms Clip Spending
▼ + stars: | 2023-10-30 | by ( Megan Graham | ) www.wsj.com time to read: 1 min

Ad agency holding companies say they are being hurt by more cautious technology advertising. At Meta Platforms, for instance, outlays for marketing and sales decreased 24% in the third quarter. Photo: kena betancur/Agence France-Presse/Getty ImagesSome of the major advertising holding companies are still feeling the impact of lower spending from technology clients—with some hit harder than others. Recent quarterly results from Interpublic Group , Omnicom Group , WPP and Publicis Groupe showed that many of their units are seeing more caution from some advertisers, slower project work, delayed starts of new business or other signs of a pullback.

Persons: kena Organizations: Agence France, Interpublic, Omnicom, WPP, Publicis Groupe

☆ Meta Pauses Ads for Users Under 18 in Europe as It Rolls Out Subscriptions
▼ + stars: | 2023-10-30 | by ( Sam Schechner | ) www.wsj.com time to read: 1 min

Meta’s plan would temporarily suspend showing ads to all users under 18 in the EU and parts of Europe that follow EU rules. Photo: tobias schwarz/Agence France-Presse/Getty ImagesMeta Platforms will stop showing ads to European teens as part of a plan announced Monday to launch new subscription-based versions of its social-media products to comply with the continent’s regulations. The plan would temporarily suspend showing ads to all users under the age of 18 in the European Union and parts of Europe that follow EU rules.

Persons: tobias schwarz Organizations: Agence France, European Union Locations: Europe

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBEIJING/SHANGHAI, Oct 30 (Reuters) - China will send Wu Zhaohui, a Vice Minister of Science and Technology, to a global summit on artificial intelligence this week in Britain, two sources familiar with the matter said. Former Prime Minister Tony Blair visited Beijing earlier this month and met Chinese Foreign Minister Wang Yi, as Beijing seeks to boost ties with the Labour party ahead of a general election likely next year. China's science ministry and foreign ministry, as well as the Chinese Academy of Sciences, did not respond immediately to faxed requests for comment. Wu was appointed to his role in the science ministry in December 2022. Like many countries around the world, China has been caught up in a global craze over generative AI following the popularity of OpenAI's ChatGPT last year.

Persons: Dado Ruvic, Wu Zhaohui, James, Boris Johnson, Tony Blair, Wang Yi, Wu, Xi Jinping, OpenAI's ChatGPT, Laurie Chen, Brenda Goh, Miral Organizations: REUTERS, Rights, Science, Technology, Labour, Chinese Academy of Sciences, HK, Foreign, Commonwealth, Development, Thomson Locations: Rights BEIJING, SHANGHAI, China, Britain, Beijing, British, London, Hong Kong, United States, Shanghai

☆ Wars Push Up Demand for Weapons, Sparking Fears of Shortages
▼ + stars: | 2023-10-29 | by ( Daniel Michaels | Doug Cameron | ) www.wsj.com time to read: 1 min

An Israeli soldier adjusts the tip to an artillery shell near the border with Lebanon. Photo: Jalaa Marey/Agence France-Presse/Getty ImagesARLANDASTAD, Sweden—Western defense officials worry that with Israel going to war as the West battles Russia by proxy in Ukraine, there won’t be enough artillery shells and other weapons to keep both allies in the fight. The issue is concerning NATO planners even though Israel isn’t a member of the alliance and few European countries supply it with military equipment.

Persons: Jalaa, Israel, Israel isn’t Organizations: Agence France, NATO Locations: Israeli, Lebanon, Sweden, Russia, Ukraine

☆ Does Strong Growth Fuel Inflation? Fed Debates Whether Old Model Still Applies
▼ + stars: | 2023-10-29 | by ( Nick Timiraos | ) www.wsj.com time to read: 1 min

Federal Reserve Chair Jerome Powell has said that the labor market is tight but loosening. Photo: saul loeb/Agence France-Presse/Getty ImagesSince Federal Reserve officials last raised interest rates in July, the economy is doing two things that central bankers don’t think it can sustain much longer: revving up activity and at the same time slowing inflation. It has set off a debate within the central bank about how closely it should follow its traditional models of the economy. The debate is unlikely to affect the outcome of its meeting this week, when the Fed is set to hold interest rates steady to provide more time to see the effects of their rapid increases over the past two years.

Persons: Jerome Powell, saul loeb Organizations: Agence France, Federal

The Al Shifa hospital was lit up in Gaza City on Tuesday. But to the Israeli military, it is a threat, and, perhaps, a target. Among Al Shifa’s current patients are about 130 newborns who were orphaned just as they were born, according to doctors at Al Shifa. Born premature, they were placed in incubators in Al Shifa’s neonatal intensive care unit. Video A doctor treating premature babies at Al Shifa Hospital said that many of the newborns were now orphaned.

Persons: Al Shifa, Al, ”, Daniel Hagari, Salama Marouf, Israel, Hagari, Dawood Nemer, “, I’ve, Tamir Kalifa, The New York Times Al Shifa’s, Al Shifa’s, obstetricians, Bisan, Mohammed Al, Masri, Ghassan Abu Sittah, —, ” Iyad Abuheweila, Isabel Kershner Organizations: Agence France, Shifa, The New York Times, Population, Al Shifa Hospital, Reuters, Al, CNN Locations: Gaza City, Gaza, Al, —, Tel Aviv, Israel, Hamas’s, British, Palestinian, Lebanese

☆ Live updates: Israel says it is expanding ground operations in Gaza as war with Hamas rages
▼ + stars: | 2023-10-28 | by ( Tara Subramaniam | Andrew Raine | ) edition.cnn.com time to read: +2 min

Abed Zagout/Anadolu/Getty ImagesThe Israel Defense Forces (IDF) told international news organizations that they cannot guarantee the safety of journalists reporting from Gaza, according to a Reuters report published Friday. International news agencies Reuters and Agence France Presse (AFP) contacted the Israeli military this week for assurance their journalists on the ground in Gaza would not be targeted by Israeli airstrikes. The letter also said Hamas deliberately put military operations "in the vicinity of journalists and civilians," Reuters wrote. Reuters and AFP have both expressed concern over the safety of journalists in Gaza, Reuters stated. CNN is a client of Reuters and AFP, regularly using live and recorded video feeds from the news agencies.

Persons: Abed Zagout, Phil Chetwynd Organizations: Getty, Israel Defense Forces, International, Reuters, Agence France Presse, Hamas, IDF, AFP, AFP Global, CNN Locations: Khan Yunis, Gaza, Anadolu

☆ X Launches Two New Premium Tiers in Bid for Subscription Revenue
▼ + stars: | 2023-10-28 | by ( Alexa Corse | ) www.wsj.com time to read: 1 min

Elon Musk took over X a year ago and its advertising business continues to struggle. Photo: Josh Edelson/Agence France-Presse/Getty ImagesX Corp. said it is launching two new subscription tiers, representing the latest effort by Elon Musk to boost the company’s subscription revenues while its advertising business continues to struggle. On Friday, X, formerly known as Twitter, began offering a $16 monthly tier called Premium+, which is more expensive than its previously existing option and offers the benefit of not showing the user ads in the For You or Following feeds. It also includes a host of other features such as boosted visibility, the ability to edit posts and post longer videos, and others.

Persons: Elon Musk, Josh Edelson Organizations: Agence France, X Corp, Twitter

☆ Inflation Trends Likely to Keep Fed Rate-Hike Pause on Track
▼ + stars: | 2023-10-27 | by ( Harriet Torry | ) www.wsj.com time to read: +2 min

Moderately higher inflation in September would keep Fed officials on track to hold interest rates steady at its Oct. 31-Nov. 1 policy meeting. They are closely watching underlying price trends to gauge whether they have raised short-term interest rates enough to slow the economy and tame inflation. The Fed over the past 20 months has raised interest rates at the fastest pace in four decades. The Fed last raised rates in July, lifting its benchmark federal-funds rate to a range between 5.25% and 5.5%, a 22-year high. Has recent inflation progress stalled?

Persons: WSJ’s Dion Rabouin, Li Jianguo, saul loeb Organizations: Zuma, Wall, Fed, Agence France, Commerce, Commerce Department

☆ Never Mind the 1%. Mini-Millionaires Are Where Wealth Is Growing Fastest.
▼ + stars: | 2023-10-27 | by ( Josh Zumbrun | ) www.wsj.com time to read: 1 min

Home purchases are helping to create a growing upper middle class. Photo: Roberto Schmidt/Agence France-Presse/Getty ImagesLast week the Federal Reserve revealed that last year the average net worth of American families topped $1 million for the first time, surging 42% from $749,000 in 2019. Of course, that average is skewed by a small number of billionaires and multimillionaires. Inflation meant real wealth didn’t increase as much. And pandemic-era stimulus boosted asset values, perhaps beyond their fundamental values.

Persons: Roberto Schmidt Organizations: Agence France, Federal Reserve

☆ Amazon Beefs Up Bottom Line as AI Battle Shapes Up
▼ + stars: | 2023-10-27 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Results for Amazon Web Services, the company’s cloud-computing division, were more closely watched than normal this quarter. Photo: Pau Barrena/Agence France-Presse/Getty ImagesAmazon might not yet be the clear winner in the race among tech giants over artificial intelligence. Total revenue of $143.1 billion was up 13% from the same period last year, which exceeded the 11% growth Wall Street was expecting. And operating income soared, hitting a record $11.2 billion compared with $2.5 billion in last year’s third quarter—exceeding analysts’ consensus target by nearly half. That was helped by sharp growth in advertising and third-party seller services—both of which offer superior profit margins compared with Amazon’s more typical retail sales.

Persons: Pau Organizations: Amazon Web Services, Pau Barrena, Agence France

☆ Israeli military says it can't guarantee journalists' safety in Gaza
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +3 min

Smoke is rising after an Israeli strike on Gaza seen from a viewpoint in Southern Israel October 24, 2023. "The IDF is targeting all Hamas military activity throughout Gaza," the IDF letter said, adding that Hamas deliberately put military operations "in the vicinity of journalists and civilians". "Under these circumstances, we cannot guarantee your employees' safety, and strongly urge you to take all necessary measures for their safety," the IDF letter concluded. Reuters and AFP said they were very concerned about the safety of journalists in Gaza. The Committee to Protect Journalists says at least 27 journalists have been killed since the war began, mostly in Gaza but also in Israel and southern Lebanon.

Persons: Violeta Santos Moura, Phil Chetwynd, Chetwynd, Reuters videographer, Mark Bendeich, Edward Tobin Organizations: REUTERS, Reuters, Agence France Presse, Hamas, Israel Defense Forces, AFP, IDF, Israel, AFP Global, Protect Journalists, Thomson Locations: Gaza, Southern Israel, Palestinian, Israel, Lebanon

☆ Israeli Military Says It Can't Guarantee Journalists' Safety in Gaza
▼ + stars: | 2023-10-27 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +2 min

(Reuters) - Israel's military has told international news organisations Reuters and Agence France Presse that it cannot guarantee the safety of their journalists operating in the Gaza Strip, under Israeli bombardment and siege for almost three weeks. "The IDF is targeting all Hamas military activity throughout Gaza," the IDF letter said, adding that Hamas deliberately put military operations "in the vicinity of journalists and civilians". "Under these circumstances, we cannot guarantee your employees' safety, and strongly urge you to take all necessary measures for their safety," the IDF letter concluded. Hamas did not immediately comment when asked about the IDF’s allegation that it put military operations near where journalists in Gaza are known to be based. Reuters and AFP said they were very concerned about the safety of journalists in Gaza.

Persons: Phil Chetwynd, Chetwynd, Mark Bendeich, Edward Tobin Organizations: Reuters, Agence France Presse, Hamas, Israel Defense Forces, AFP, IDF, Israel, AFP Global, Protect Journalists Locations: Gaza, Palestinian, Israel, Lebanon

[1/3] A scientist drives his snowmobile across an icefield of the arctic near Ny-Alesund, Svalbard, Norway, April 10, 2023. Secretary of State Antony Blinken announced the opening of the station, in Tromsoe, northern Norway, in June, as a means for the US to have a "diplomatic footprint above the Arctic Circle", he said. Tromsoe is the largest city in Arctic Norway, located about 400km (250 miles) to the west of Russia. Tromsoe is also the seat of the Arctic Council, a polar body comprising the eight Arctic states of Russia, the US, Canada, Finland, Norway, Iceland, Sweden and Denmark. Cooperation within the Arctic Council between Moscow and the Western Arctic states was put on hold after Russia's invasion of Ukraine in February 2022.

Persons: Lisi Niesner, Antony Blinken, Andreas Oesthagen, Washington, Tromsoe, Gwladys Fouche, Terje Solsvik, Deborah Kyvrikosaios Organizations: REUTERS, Rights, Fridtjof Nansen Institute, Reuters, Arctic Council, Cooperation, Thomson Locations: Ny, Alesund, Svalbard, Norway, Rights OSLO, United States, Washington, Ukraine, Tromsoe, Oslo, Arctic Norway, Russia, Canada, Finland, Iceland, Sweden, Denmark, Moscow

[1/3] 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. Li was premier and head of China's cabinet under Xi for a decade until stepping down from all political positions in March. Adam Ni, an independent China political analyst, described Li as "a premier who stood powerless as China took a sharp turn away from reform and opening". A glowing 2014 state media profile of Li, praising him as "a calm and tough wall-breaker", went viral shortly after his death was announced. Li's frequent visits to disaster sites and his easy camaraderie when speaking to ordinary people were also highlighted on Chinese state media.

Persons: Li, Damir Sagolj, Li Keqiang, Xi Jinping, Xi, Deng Xiaoping, Alfred Wu, Lee, Zhu Rongji, Wen Jiabao, Wu, Adam Ni, Jiang Zemin, Deng, Li Yining, Hu Jintao, Cheng Hong, Laurie Chen, Tian, William Mallard Organizations: People's Congress, of, People, REUTERS, Rights, Communist Party, CCTV, Weibo, Australian National University, Lee Kuan Yew, of Public Policy, Peking University, Communist Party's Youth League, Youth League, Shanghai, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai, Singapore, Social, Anhui, Henan, Liaoning

☆ What to Watch For in Thursday’s GDP Report: How High Did Consumers Push Economic Growth?
▼ + stars: | 2023-10-26 | by ( Amara Omeokwe | ) www.wsj.com time to read: +1 min

Tickets to movies helped drive strong consumer spending over the summer. Photo: Valerie Macon/Agence France-Presse/Getty ImagesU.S. economic growth accelerated sharply during the third quarter, forecasters estimate, as Americans increased spending and shook off fears of a slowdown. Economists surveyed by The Wall Street Journal estimate gross domestic product grew at a seasonally- and inflation-adjusted 4.7% annual rate in the third quarter—more than double the second quarter’s 2.1% pace. The Commerce Department is set to release its initial estimate of third-quarter gross domestic product at 8:30 a.m. Eastern time Thursday. In April, economists expected the economy would contract slightly over the summer months.

Persons: Valerie Macon Organizations: Agence France, Getty, Wall, Commerce Department Locations: Ukraine

Speaking in Parliament to lawmakers from his Justice and Development Party, Mr. Erdogan accused Israel of deliberately attacking civilians in Gaza and killing large numbers of children, women and older people. Mr. Erdogan also criticized Western countries for their strong backing of Israel and for branding Hamas, the armed Palestinian group that controls Gaza, as a terrorist organization. But recently, Mr. Erdogan made steps at rapprochement with the Jewish state. On Wednesday, Mr. Erdogan said all plans to visit Israel had been scrapped. “We clearly mentioned that we never excuse any acts targeting civilians, including Israeli civilians, regardless of the perpetrator,” he said.

Persons: Recep Tayyip Erdogan, Erdogan, Israel, ”, Mr, mujahedeen, Erdogan’s, Isaac Herzog, Netanyahu, Benjamin Netanyahu, “, Ergodan’s, Lior, Russia’s, Vladimir V, Putin, ” Mr, Nadav Gavrielov Organizations: NATO, Development Party, Hamas, European Union, Ministry, Israel’s, Turkish, Turkish Presidency Press, Agence France, United Nations General Assembly, ISIS Locations: Turkey, Israel, United States, Gaza, Ankara, Israeli, New York, Turkish, Russia, Ukraine, “, Seoul

☆ Researchers discovered a hidden Antarctic landscape under a layer of ice over a mile thick that shows how different the continent looked millions of years ago
▼ + stars: | 2023-10-25 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +3 min

Researchers recently found an "undiscovered landscape" beneath Antarctica's ice. But between 14 million and 34 million years ago, an ice sheet crept across the continent. It locked some of the lush landscape beneath over a mile of ice, per NBC News. This helped the researchers determine the height of peaks and depths of valleys that lay hidden beneath the ice. A rewarming AntarcticaIt's crucial to understand how warming temperatures will impact Antarctica's ice.

Persons: Stewart Jamieson, Jamieson Organizations: Service, NBC, Agence France, Live, Nature Communications, Reuters There's, Guardian Locations: Antarctica, Maryland, East Antarctica, Patagonia

At least four family members of a prominent Al Jazeera journalist in Gaza were killed, the news organization said on Wednesday. The network said the wife, son, daughter and infant grandson of Wael al-Dahdouh, the Gaza bureau chief of Al Jazeera’s Arabic-language service, were killed at the Nuseirat refugee camp in central Gaza, where they had been sheltering. Al Jazeera identified two of the deceased as Mr. al-Dahdouh’s teenage son, Mahmoud, and his young daughter, Sham. Photos also showed Mr. al-Dahdouh clutching what appeared to be his daughter’s small, shrouded body, looking down at her bloodied face in anguish. In a translated interview aired by Al Jazeera’s English-language channel, Mr. al-Dahdouh, his face wet with tears, said no one was safe in Gaza.

Persons: Wael, Al, “ Al Jazeera, Dahdouh, Mohamed Moawad, Jazeera, Mahmoud, Al Jazeera’s, ” Hoda Abdel, Hamid, Issam Abdallah, Shireen Abu Akleh Organizations: Al, Al Jazeera Media Network, Al Aqsa Martyrs Hospital, Protect Journalists, Hamas, —, Reuters, Agence France, Presse, Palestinian, West Bank, Israeli Army Locations: Al Jazeera, Gaza, Al Jazeera’s, Israel, “ Al, Gaza City, Al Aqsa, Deir al, Palestinian American, Jenin, Israeli

☆ Despite Israel-Hamas War, It’s (Nearly) Business as Usual at Saudi Investment Forum
▼ + stars: | 2023-10-24 | by ( Stephen Kalin | Eliot Brown | ) www.wsj.com time to read: 1 min

Deals worth billion dollars are expected to be signed over the next three days at the Future Investment Initiative conference in Riyadh, Saudi Arabia. Photo: fayez nureldine/Agence France-Presse/Getty ImagesRIYADH, Saudi Arabia—The titans of Wall Street chatted under crystal chandeliers. With the Israel-Hamas war intensifying 900 miles away, the gathering made for an awkward split screen. The world’s business elite had come together for the Future Investment Initiative—nicknamed “Davos in the Desert”—where topics of discussion included artificial intelligence, futuristic planned cities and the growing perils of higher interest rates and rising debt loads.

Persons: fayez Organizations: Future Investment Initiative, Agence France, Getty Images, Saudi Arabia —, titans, Future Investment, “ Locations: Riyadh, Saudi Arabia, Getty Images RIYADH, Israel, “ Davos

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