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☆ Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company
▼ + stars: | 2024-08-23 | by ( Michael Wayland | ) www.nbcnews.com time to read: +8 min

So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. “We’re quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range,” he told CNBC on Thursday. Gjaja’s comments came a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. Gjaja said the decision wasn’t taken lightly, especially the cancellation of the upcoming three-row vehicle, which Ford CEO Jim Farley and other executives had been touting as a game changer for several years. He said the Ford, in part, developed the skunkworks team to prove that Ford can compete against the Chinese automakers.

Persons: Marin Gjaja, We’re, “, Warren Buffett, Gjaja, Jim Farley, ” Farley, Ford, ” BofA’s John Murphy, John Lawler, Lawler, ” Gjaja, ” There’s, we’ve, ” Ford, Thursday, ” Organizations: DETROIT, Ford, CNBC, North America, EV, “, ICE, Wall Street, GM, General Motors Locations: U.S, Europe, North, California, China, ”

☆ Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company, investors
▼ + stars: | 2024-08-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

In this article F Follow your favorite stocks CREATE FREE ACCOUNTA banner advertises the Ford Mustang Mach-E electric vehicle at a Ford dealership on August 21, 2024 in Glendale, California. So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. "We're quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range," he told CNBC on Thursday. Gjaja's comments come a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. He said the Ford, in part, developed the "skunkworks" team to prove that Ford can compete against the Chinese automakers.

Persons: Mario Tama, Marin Gjaja, Warren Buffett, Gjaja, Jim Farley, Farley, Ford, BofA's John Murphy, John Lawler, Lawler, There's, we've, Michael Wayland Organizations: Ford, Getty, DETROIT, CNBC, North America, EV, Wall Street, GM, General Motors Locations: Glendale , California, U.S, Europe, North, California, China

☆ Myanmar junta says senior officers held as rebels seize major base
▼ + stars: | 2024-08-06 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

Myanmar’s junta has lost communications with senior officers at a major military base near the Chinese border, in a rare admission of battlefield failure after rebels announced they had taken control of the key regional army headquarters. Junta troops have been unable to contact an undisclosed number of officers at the besieged northeastern regional command, military spokesman Zaw Min Tun said Monday, following weeks of intense fighting in and around the town. “The rapid fall of the Myanmar army’s Northeastern Command makes it fully clear to the ranks of the resistance and to neighboring countries just how weak the Myanmar military has become,” said Jason Tower at the United States Institute of Peace. “For Min Aung Hlaing, the implications are existential,” he said, referring to the embattled junta chief. “We will also continue to fight as allies until the military falls,” said the statement from the Kachin, Karen and Chin groups.

Persons: Zaw Min Tun, ”, Myanmar’s, “ MNDAA, Lashio, Jason Tower, Aung, “, Chin Organizations: Myanmar National Democratic Alliance Army, Junta, Northeastern Command, Myanmar, United States Institute of Peace, Sunday Locations: Lashio, “, Shan, Beijing, China, Myanmar, Thai, Kachin

☆ Here's how U.S. health officials are responding to bird flu in humans after second case
▼ + stars: | 2024-05-24 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +7 min

Brandon Bell | Getty ImagesU.S. health officials are monitoring and preparing to combat bird flu in humans, even as they stress that the risk to the general public remains low. An Australian child was also recently infected with bird flu, the country announced on Tuesday. In rare cases, bird flu viruses spread to humans and can cause mild to severe symptoms that can require hospitalization. The Food and Drug Administration would need to approve bird flu vaccines before they roll out. Potential mRNA shotsU.S. health officials are also in talks with messenger RNA vaccine makers about potential bird flu shots for humans.

Persons: Brandon Bell, Andrew Pekosz, Pekosz, Peter Chin, That's, Hong Organizations: Getty, Disease Control, U.S ., Human Services Department, CNBC, Johns Hopkins Bloomberg School of Public Health, CDC, HHS, NBC News, UCSF Health, Drug Administration, FDA, Pfizer, Moderna Locations: Quemado , Texas, Michigan, Australian, U.S

☆ Estee Lauder sinks on disappointment that CEO Fabrizio Freda didn't have better news about China
▼ + stars: | 2024-03-14 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Estee Lauder shares declined Thursday after CEO Fabrizio Freda offered an underwhelming outlook on China at a retail conference earlier in the day. Freda, who has been CEO for 14 years, said China remains an important growth segment for Estee Lauder, and the trend of more consumption there is not changing. While management is confident that performance will improve going forward, we still see Estee Lauder as a "show me" story. In the second half of fiscal 2024, Estee Lauder said it's positioned for stronger profitability versus the first half. Pedestrians walk past the American multinational skincare, and beauty products brand, Estée Lauder (Estee Lauder) logo seen in Hong Kong.

Persons: Estee Lauder, Fabrizio Freda, Freda —, Freda, it's, Jim Cramer's, Jim Cramer, Jim, Estée Lauder, Budrul Organizations: UBS Global Consumer, Retail Conference, UBS, Management, CNBC, Lightrocket, Getty Locations: China, New York City, U.S, Asia, American, Hong Kong

☆ New York’s Rubin Museum is closing its doors — but will live on as a ‘museum without walls’
▼ + stars: | 2024-02-02 | by ( Christy Choi | ) edition.cnn.com time to read: +7 min

CNN —New York’s Rubin Museum of Art, home to one of the world’s largest and most important collections of Himalayan art, announced on Wednesday that it will close its doors in October. Rubin Museum founders Shelley and Donald Rubin, pictured on October 8, 2015. Mireya Acierto/Getty Images“Building and sharing this collection of Himalayan art was one of my family’s great joys,” added Shelley Rubin. A lot of the time, we are shown Tibetan art as part of Chinese art — as an appendage because Tibet is now part of China. Robert K. Chin/Storefronts/AlamyThe closure will see some 40% of the Rubin’s staff lose their jobs — mostly those in “front-of-house roles,” a spokesperson for the museum told CNN.

Persons: York’s Rubin, Shelley, Donald Rubin, Rubin, Noah Dorsky, Mireya Acierto, ”, Shelley Rubin, “, Matthew Eisman, Jorrit Britschgi, ” Britschgi, Nepal’s, Ian Johnson, meanwhile, Curtis S, Chin, ” “, ” Johnson, Robert K Organizations: CNN, York’s Rubin Museum of Art, Rubin Museum, Rubin Museum of Art, Venice Biennale, Itumbaha Museum, Mandela, Centre for Foreign Relations, Asian Development Bank Locations: Manhattan, New York, Kathmandu, Nepal, New York City, Venice, York, Tibet, China

☆ Asia’s year in review: Who had it good — and who had it bad — in 2023
▼ + stars: | 2023-12-22 | by ( Curtis Chin | Jose B. Collazo | ) www.cnbc.com time to read: +7 min

As 2023 comes to a close, we take a look at the year that was in Asia and the Pacific region. But who had it good and who had it bad in 2023? Bad year: China's property marketWith millions of Chinese citizens still waiting for homes they put down payments on — but might never be built — 2023 was a particularly bad year for China's property market. A newly built property is seen from the air in Hangzhou city, Zhejiang province, China, Dec 15, 2023. Chinese families and individuals who once saw homes as more than somewhere to live but also as investments have reason to fear 2023 won't be the last bad year they face.

Persons: Curtis, Chin, Jose B, —, Vikram, Amit Dave, Narendra Modi, Taylor Swift, Kim Ji, Jennie, Kim Jennie, Roseanne Chae, Lisa, Lalisa, King Charles, Rose, Roseanne Park, Jisoo Kim, Jennie Kim, King Charles III, Yoon Suk Yeol, Kim Keon Hee, Victoria Jones, Blackpink, Michelle Yeoh, Joe Biden, Xi Jinping, San Francisco —, China Evergrande, Moody's, Asia's Organizations: Asian Development Bank, RiverPeak Group, ISRO —, Indian Space Research, Orbiter, ISRO, Buckingham, Sustainable, COP26, Getty, YG Entertainment, APEC, U.S, International Monetary Fund Locations: U.S, Asia, Turkey, Syria, Maui, Hawaii, Lahaina, Pacific, India, Gujarat Science City, Ahmedabad, Korea, British, LONDON, ENGLAND, Glasgow, London, England, South Korea, Malaysian, New Zealand, Thailand, China, San Francisco, United States, Taiwan, South China, Country, Hangzhou city, Zhejiang province

Filmmakers Elizabeth Chai Vasarhelyi and Jimmy Chin have given audiences thrilling and sometimes terrifying front-row seats to incredible feats of human ambition in their documentary work. But there would be at least one big difference in bringing “Nyad” to life: actors. Political Cartoons View All 1233 ImagesIn fiction, she found creative collaborators in their decorated core cast: Annette Bening, who plays Nyad, Jodie Foster as her friend and coach Bonnie Stoll, and Rhys Ifans as the ship's navigator. Vasarhelyi wasn’t without any experience working with actors, either, and in fact learned from the best. With their other films, the filmmakers had loved watching their subjects get to see audiences respond to them and their work.

Persons: Elizabeth Chai Vasarhelyi, Jimmy Chin, Alex Honnold’s, El Capitan, they’d, Diana Nyad, “, ”, Nyad, ” Vasarhelyi, Annette Bening, Jodie Foster, Bonnie Stoll, Rhys Ifans, Chin, Vasarhelyi, Nyad ”, Mike Nichols, Julia Roberts, Jude Law, Clive Owen, Natalie Portman, Tom Stoppard, Julia Cox, ” Chin, Foster, “ There's, Bening, Annette, Diana, Oscar, Claudio Miranda, Ang, Pi ”, Miranda, it’d, you’re, We’re Organizations: Key West, Netflix, Associated Press, Formula Locations: Northern Thailand, The, Cuba, Key, Covent Gardens

But Curtis Chin's parents urged their six kids to ask customers at their Chinese restaurant about their background. Recent hate crimes have evoked comparisons to Vincent Chin's beating death at the hands of two white autoworkers outside his bachelor party. Curtis Chin's uncle was Vincent Chin's best man. Asian American and Pacific Islander groups are behind several upcoming events. “I just can’t impress upon it enough how much I feel like my whole community is rallying behind me for this book,” Chin said.

Persons: Curtis Chin's, —, Chin, “, ”, “ Vincent Who, Vincent Chin, Curtis Chin, it's, ” Chin, Chung's, ” Roland Hwang, Vincent Chin's, Hwang, there’s, George Floyd's, I’ve, Lily Chen, Curtis, Chen, we've, it’s, ___ Tang Organizations: Detroit, Asian American Writers ’, The Washington Post, The, American Citizens, Justice, Detroit Historical Museum, ”, Pacific, Associated Press Locations: Los Angeles, The, Detroit, Chinatown, Detroit's, Cass, The Cass, That's, ”, Asian American, Phoenix, @ttangAP

☆ Japan’s property sector sees ‘golden period’ as foreign investments surge 45%
▼ + stars: | 2023-10-04 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesForeign investments into Japan's real estate sector have been flourishing in the past year, buoyed by a weak Japanese yen as the country's central bank maintains its ultra-loose monetary policy. "It is a golden period of Japanese real estate," Henry Chin, head of Asia-Pacific research at CBRE, told CNBC. Foreign investors almost doubled their investment from a year ago to $2 billion in the first quarter of the year, the global real estate services company noted. According to latest data provided by CBRE, total foreign investments into Japan's real estate market has risen 45% in the first half of 2023, compared to the same period last year. The solid rebound in Japan's tourism sector following the ease in border restrictions has sparked a rise in hotel occupancies and hospitality investments, Knight Frank said in a recent September note.

Persons: Henry Chin, Chin, Koji Nato, JLL, Knight Frank, CBRE's Chin, Knight Frank's, Christine Li, David Madison Organizations: Bloomberg, Getty, CNBC, Nato LL's, Capital Markets, U.S, APAC Locations: Tokyo, Japan, Asia, Pacific, Osaka, Singapore, U.S, Canada, Magome

☆ Meet the warrior interns: College students hell-bent on winning the CV arms race, who'll stack all the jobs they can to make their resumes shine
▼ + stars: | 2023-09-10 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +11 min

This is becoming a rite of passage for those who want good jobs, one career counselor told Insider. Advertisement Advertisement Watch:Singaporean undergraduate Amelia Yamato Leow told Insider that she started interning right after secondary school. Ong told Insider she's done an internship every summer break, and has worked during the college semester, too. You see from the inside how things work, and how people work, and most importantly, you can build rapport," Chin told Insider. This is especially so for complex industries like banking, Ted Teo, an adjunct assistant professor at the National University of Singapore, told Insider.

Persons: Amelia Yamato Leow, hasn't, who's, Leow, she's, Nicole Ong, Ong, you've, Justin Chin, Chin, Eddie Phua, Phua, Gao, Xinrui Gao Xinrui Gao, it's, Adrian Teh, Teh, they'll, Megan Wong, Wong, Sim Cher Young, Sim, Adrian Choo, Ted Teo, Teo, Goldman Sachs, Shaw, Singapore Management University's Sim, International's Choo Organizations: Service, National University of Singapore, PayPal, NUS, National University of Singapore Business, NUS Business School, Nanyang Technological University, Singapore Management University, LinkedIn, Citadel, Harvard, Singapore Management Locations: Singapore, Wall, Silicon, fintech

☆ AllianceBernstein is using AI on everything from research to operations. Here's how it's helping the $704 billion asset manager save hundreds of thousands of dollars.
▼ + stars: | 2023-09-04 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

Here's how AB uses AI to get an edge, save analysts hours of work, and improve risk management. Seven years ago, the massive money manager AllianceBernstein set out on a mission to transform itself with AI and data science. The move would save AB hundreds of thousands of dollars and help its investors seek an edge with the $704 billion assets they manage. Chin lifted the hood on the asset manager's AI strategy and use cases. For instance, one signal compares regulatory filings for differences in company strategy or management.

Persons: AllianceBernstein, Andrew Chin, Chin, Larry Fink, terminations, It's Organizations: Wall Street, Vanguard, Fidelity Locations: BlackRock

☆ Wait, Is That Rapid Test Really Expired?
▼ + stars: | 2023-08-29 | by ( Dani Blum | More About Dani Blum | ) www.nytimes.com time to read: +2 min

If a test is delivered to you on a sweltering day, for example, the agency recommends bringing the package inside and waiting at least two hours before opening it. And always make sure the control line — which typically appears next to the “C” — shows up when you use a rapid test; otherwise, the test may be damaged or faulty. If you have Covid symptoms and someone you had been spending time with is now positive, test immediately. says to wait at least five days before testing because swabbing too early can give you a false negative. “Especially people who have been recently boosted,” he said, “if they get infected, they might become symptomatic 24 hours post-exposure, 48 hours post-exposure — really fast.”

Persons: Peter Chin, Sala, . Chin, Hong, Michael Mina, Harvard epidemiologist, ” Organizations: University of California, Harvard Locations: San Francisco

Adrienne Hurst and Dan Farrell andListen and follow ‘The Daily’Apple Podcasts | Spotify | StitcherAlmost everyone who reads “American Born Chinese,” Gene Luen Yang’s groundbreaking graphic novel, is a little afraid of Chin-Kee. The book is a classic of young-adult literature, threading together stories of Asian American boyhood with a revered Ming dynasty novel. Chin-Kee’s role in it is a small one, but he is the bomb at the book’s heart. He makes the old schoolyard “me Chinese” rhymes and begins sentences with “Confucius say …” He sings “She Bangs,” in a library, in the style of the “American Idol” contestant William Hung. A laugh track runs in a ribbon under each scene, a brutal little receipt: “HA HA HA HA HA.”So when news arrived, in 2021, that “American Born Chinese” would be adapted as a live-action Disney+ streaming series, the first reaction from some readers was, more or less, “Oh, no.”

Persons: Adrienne Hurst, Dan Farrell, Gene Luen, Chin, Kee, “ Confucius, Bangs, ”, William Hung Organizations: Spotify, Idol

☆ U.S.-China ties weigh on security summit as defense chiefs meet in Singapore
▼ + stars: | 2023-06-02 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

Regional concerns were underscored recently with the Pentagon saying that a Chinese fighter jet made an "unnecessarily aggressive maneuver" against an American reconnaissance plane in the South China Sea late last week. Under President Xi Jinping's leadership, China has grown more hawkish on the global stage, particularly in its historic claims over Taiwan and the South China Sea. "What you are seeing is the emergence of a regional security architecture," said Thompson of the LKY School. "The region is really coming together with a common interest in regional security and stability." Singapore is Austin's second stop on a whirlwind tour that will also take him to Japan, India and France.

Persons: Li, Xi Jinping's, We're, Chin, Hao Huang, Wang Wenbin, Huang, What's, Anthony Albanese, Thompson, Li —, Donald Trump, Austin, Joe Biden Organizations: Yale, NUS College, CNBC, International Institute for Strategic Studies, Australian, LKY, Pentagon, Association of Southeast Asian Nations, Observers Locations: Austin, American, South, China, Taiwan, South China, Asia, Pacific, Brunei, Indonesia, Malaysia, Philippines, Vietnam, Singapore, Japan, South Korea, Australia, India, Beijing, Korea, France, U.S

☆ 'Chin up and don't put a lot of money to work' — why Cramer is getting worried about the market
▼ + stars: | 2023-05-24 | by ( Christopher Alessi | In | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. But we're "not backing away from any of these three stocks," Jim said Wednesday, suggesting a pullback could provide a buying opportunity. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Some Chinatown residents benefited from the development boom, selling properties to developers or drawing more customers from increased foot traffic. Some residents have shown tentative support for the luxury buildings, saying they might make the neighborhood safer or bring in wealthier Asian residents who could boost Chinatown's economy. Manhattan Chinatown's housing stock is "really aged," which has led to costly fires, according to Thomas Yu, executive director of Asian Americans for Equality. Chinatowns and the pandemicMany debates surrounding luxury development and affordable housing were accelerated by the pandemic, which shuttered hundreds of businesses across Chinatowns. However, business owners who spoke with CNBC said Chinatown's businesses, though still recovering, are keeping the city's culture alive.

☆ The real reasons stores are closing in big cities
▼ + stars: | 2023-05-12 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

These big chains and others have closed stores in major US cities recently, raising alarm about the future of retail in some of the country’s most prominent downtowns and business districts. How policymakers remake their downtowns — with retail as a crucial attraction — will be crucial to cities’ fiscal health and regional economies. People who are being employed in those stores are losing their jobs” because of crime, New York City Mayor Eric Adams, a Democrat, said in February. San Francisco lost around 6% of its retail establishments from 2019 to 2021, according to the think tank’s research. For example, chain-store closures in New York City have correlated to the products most frequently bought online.

☆ General Motors' China business is hurting, and it's not just because of Covid
▼ + stars: | 2023-03-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

He purchased his Nio over models from rival Chinese automakers Xpeng , Li Auto and IM Motors. GM's operations in the country are much larger than those of its crosstown rival Ford Motor, for example. Equity income from GM's Chinese operations and joint ventures has fallen 67% since its peak of more than $2 billion in 2014 and 2015. And the rising quality of domestic-made electric vehicles helped support — and tap — growing nationalistic pride among China's consumers. In February, Ford named Sam Wu, a former Whirlpool executive who joined the automaker in October, as president and chief executive of its China operations, starting March 1.

☆ Asia's year in review: Who had it good — and who had it bad — in 2022
▼ + stars: | 2022-12-15 | by ( Curtis Chin | Jose Collazo | ) www.cnbc.com time to read: +7 min

As the new year approaches, we turn again to our annual look at Asia's winners and losers. Government and business leaders in every major economy — China now included — may well hope 2023 is the year when draconian pandemic-related lockdowns become a matter of history. Underscoring the Taiwanese tech industry's critical role, a Semiconductor Industry Association (SIA)/Boston Consulting Group 2021 study found that 92% of the world's most advanced semiconductor manufacturing capacity is located in Taiwan. With numbers like those, Taiwan's semiconductor industry ends the year on the move, still building ties and winning growing support from business and government in the United States and elsewhere. Mixed Year: Asia's 'love' for cryptoAs in much of the world, investors in Asia — once bedazzled if not bewitched by the crypto industry — end the year in a mixed mood.

☆ 5 tell-tale signs someone is manipulating you, according to a body-language expert
▼ + stars: | 2022-11-09 | by ( Don Weber | ) www.businessinsider.com time to read: +6 min

It's these types of manipulators I've spent a great deal of my career identifying. The hard and simple truth is that using body language to identify manipulation takes time and study. You're accustomed to the natural body language of your loved one and will have an easier time recognizing any deviations, whether conscious or subconscious. Signs of a manipulatorOnce you thoroughly understand a person's typical body language and gestures, you can start detecting deviations in their behavior. Eye contact and movementIt's commonly believed that if someone's looking you straight in the eyes, they're telling you the truth.

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