DIRS.INFO The most relevant business & tech news

☆ China says relations with Japan at 'critical stage'
▼ + stars: | 2024-07-27 | by ( ) www.cnbc.com time to read: +2 min

Relations between China and Japan are at a critical stage, Chinese Foreign Minister Wang Yi told his Japanese counterpart on Friday as the pair discussed thorny issues including Japanese nationals detained in China, food import bans and semiconductor curbs. "China-Japan relations are currently at a critical point: advance or be left behind," Wang told Kamikawa, according to a readout of the talks issued by the Chinese foreign ministry. It is hoped that the Japanese side will establish an objective and correct perception of China and pursue a positive and rational policy towards China." In their first one-to-one talks in eight months, Kamikawa strongly urged the lifting of import restrictions Beijing imposed on Japan food products in the wake of the Fukushima water release. She also called for the early release of Japan detainees in China.

Persons: Wang Yi, Wang, Japan's Yoko Kamikawa, Kamikawa Organizations: Southeast, ASEAN, Saturday's East Asia Summit, ASEAN Regional Forum, Japan, Astellas Pharma Locations: China, Japan, Laos, Saturday's, Beijing, Tokyo

☆ Paris Olympics is the latest test of whether sports can win subscribers for NBC's Peacock
▼ + stars: | 2024-07-26 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

In this article CMCSA Follow your favorite stocks CREATE FREE ACCOUNTThe Paris 2024 logo representing the Olympic Games is displayed near the Eiffel Tower in Paris on April 21, 2024, in anticipation of the 2024 Paris Olympic Games and Paralympic Games. Chesnot | Getty ImagesThe Paris Olympics will offer Comcast another chance to lift its streaming platform, Peacock, as it aims to not only attract more subscribers but keep them. But most importantly, Peacock will air the entirety of the Summer Olympics for the first time. The 2020 Tokyo Olympics, which were held in 2021 due to the Covid pandemic, drew the lowest-ever audience for the Summer Games. The Beijing Olympics in 2022 had the lowest viewership ever for the Winter Games, which are notably smaller than the Summer Olympics.

Persons: Peacock, it's, Comcast's, Craig Moffett, they've, Molly Solomon, Kelly Campbell, Simone Biles, Lindsey Wasson, NBCUniversal, Mike Tirico, Grant Fisher, Abdihamid Nur, Patrick Smith Organizations: Olympic, Olympic Games, Paralympic Games, Chesnot, Comcast, Olympics, Ariake Gymnastics, NBC Radio, NBC, Summer Games, Beijing, Winter, Paris Games, Summer, Games, Australia, Team USA, Hayward Field, Getty Locations: Paris, MoffettNathanson, East Coast, U.S, Tokyo, United States, Japan, France, of Versailles, USA, men's, Eugene , Oregon

☆ Retiring at 50 has long been a guarantee for parts of China's working class — until now
▼ + stars: | 2024-07-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +7 min

But experts and think tanks have long said this is a policy change that an aging China desperately needs. It's currently running a lopsided policy of letting women retire up to 10 years earlier despite them living significantly longer on average than men. The pension problemKey to the retirement overhaul are China's pension funds. AdvertisementMost Chinese workers receive a state pension, which can be boosted by retirement funds from employers and personal contributions. Experts say that either way, Beijing will need more than a simple policy change to fix its crisis.

Persons: —, Sabrina Luk, Shaun Rein, Luk, It's, Gu Qingyang, CASS, it's, Louis Vuitton, Gu, Rein Organizations: Service, Business, Nanyang Technological University, China Market Research Group, Academy of Social Sciences, National University of Singapore, Louis Locations: Beijing, France, China, Xiaohongshu, Weibo, Singapore, Shanghai, Asia, East Asia

☆ U.S. crude oil on pace for third weekly decline as China demand outweighs U.S. growth
▼ + stars: | 2024-07-26 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude on Friday was on pace for a third weekly decline as worries about demand in China outweigh strong economic growth U.S.U.S. oil is down 2.7% this week, while Brent is 0.84% lower. The U.S. economy grew at a 2.8% pace in the second quarter, much stronger than expected. But oil imports to China were down 10.7% year over year in June, and refined product imports fell 32% during the same period, according to customs data. China is the world's largest crude importer. Here are today's energy prices:Surprise rate cuts in China raised concerns that Beijing is struggling to breathe life into the world's second largest economy.

Persons: Brent, Bob Yawger Organizations: People's Bank of, Mizuho Securities Locations: China, U.S, Beijing, People's Bank of China

☆ China says Taiwanese working in the mainland 'need not worry' after it suggested a death penalty for 'independence die-hards'
▼ + stars: | 2024-07-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

China said Taiwanese workers in the mainland have nothing to fear if they "don't break the law." The comment comes as Beijing sparked alarm in June by floating the death penalty for 'diehard' separatists. About 163,000 Taiwanese worked in the mainland in 2021, per a local report, and the number is declining. The comment comes as Beijing issued legal guidelines on June 21 suggesting the death penalty or prison for "Taiwan independence diehards." The declaration sparked alarm in Taiwan, where officials started restricting tours to China and warning people against traveling to the mainland.

Persons: — Organizations: Service, Taiwan, Business Locations: China, Beijing, Taiwan

☆ Don’t help Russia evade sanctions, Ukraine tells Hong Kong
▼ + stars: | 2024-07-26 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Ukraine’s Foreign Minister Dmytro Kuleba urged Hong Kong to prevent Russia from using the Asian financial hub to bypass Western sanctions during a visit to the city on Thursday. Kuleba “called on the Hong Kong administration to take measures to prevent Russia and Russian companies from using Hong Kong to circumvent the restrictive measures imposed for Russia’s aggression against Ukraine,” according to a statement from Ukraine’s Foreign Affairs Ministry issued after the minister met with Hong Kong leader John Lee. “These restrictive measures are necessary to weaken Russia’s capacity to wage war and kill people in Ukraine,” it added. In a statement, a spokesperson for the Hong Kong government told CNN on Friday that it “implements and strictly enforces” United Nations Security Council (UNSC) sanctions. However, international companies based in Hong Kong, including Chinese banks, have generally adhered to US sanctions to avoid any risk of being frozen out of the dollar dominated global financial system.

Persons: Hong Kong CNN —, Dmytro Kuleba, “, Hong, John Lee, Hong Kong, Wang Yi, ” Kuleba, Wang Organizations: Hong Kong CNN, Hong Kong CNN — Ukraine’s, European Union, Hong, Ukraine’s Foreign Affairs, CNN, ” United Nations Security Council, UN, Assembly, UNSC, EU, Ukrainian Foreign Ministry, Kyiv, Beijing Locations: China, Hong Kong, Russia, United States, Ukraine, Russian, United Kingdom, Hong, Beijing, Moscow, Western, Guangzhou, Ukrainian

“This will be the first Olympics, since Sydney, where the total costs are coming in under $10 billion,” said Victor Matheson, a College of the Holy Cross professor of economics who has researched the financial costs of the Olympics. Workmen adjust banners on the 3x3 basketball venue located at La Concorde, in Paris, ahead of the 2024 Olympic Games. Additionally, the Paris Olympic Village will be converted into offices and housing in a historically impoverished neighborhood. Still, economists say, it may take more drastic moves in the future for the Olympics to be truly sustainable and economically sound. “I love the Olympics, and I love sporting events, but I just really do not think that the way the Olympics works now is a viable business model,” Phalin said.

Persons: ”, Victor Matheson, “, “ It’s, David Gray, Andrew Zimbalist, ” Zimbalist, Michael Kappeler, it’ll, Fabrice Coffrini, Zimbalist, ‘, Amanda Phalin, Christian Petersen, I’m, ” Phalin, you’ve, it’s, Andrew Medichini, shuttlecocks, Matheson, Phalin Organizations: CNN, Olympic, Paralympic Games, Paris Games, of, IOC, La Concorde, Getty, Mexico City Games, Montreal Games, Smith College, Olympics, Oxford University, Audit Board, Tokyo, Eiffel, Paris, University of Florida’s Warrington College of Business, Games, of Investment, Development Authority, French, ” Workers, Palais, AP Paris Locations: Paris, Sydney, La, AFP, Mexico, Munich, ” Los Angeles, Tehran, Beijing, Sochi, France, “, Lake Placid , New York, Lake Placid, ”, Los Angeles, Oklahoma

☆ NORAD says it tracked Chinese and Russian long-range bombers off Alaska
▼ + stars: | 2024-07-25 | by ( ) www.cnbc.com time to read: +3 min

Two Chinese and two Russian long-range bombers were tracked flying over international waters near Alaska and U.S. and Canadian fighter jets were sent up in response, their joint aerospace command said. The Chinese and Russian military activity Wednesday was not seen as a threat, the North American Aerospace Defense Command, known as NORAD, said. China and Russia confirmed Thursday that they had conducted a joint air patrol over the Bering Sea, which divides Russia and Alaska. Russian fighter jets and strategic bombers were joined by Chinese strategic bombers in the exercises, which lasted more than five hours, the ministry said. A photo released by the Russian Defense Ministry showed a Russian Su-30 fighter jet escorting a Chinese bomber.

Persons: Vladimir Putin, Xi Jinping, Zhang Xiaogang, Zhang Organizations: Sputnik, of, North American Aerospace Defense Command, NORAD, Russian Defense Ministry, China's Defense Ministry, North American U.S . Air Defense, Japan's Defense Ministry, Coast Guard Locations: Russian, Tiananmen, Beijing, Alaska, U.S, Canadian, China, Russia, Bering, North America, Pacific, Chukchi, Bering Strait, Japan, Korea

☆ Chinese EV startups are spending more on research than Tesla is
▼ + stars: | 2024-07-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

CNBC | Evelyn ChengBEIJING – U.S.-listed Chinese electric car companies are spending more on research as a ratio to sales than Tesla , according to CNBC analysis of the four automakers' first-quarter earnings. Of the four U.S.-listed Chinese electric car companies, Nio ranked first, spending nearly 29% of revenue in the first three months of the year on research and development. He was referring to a popular term in China to describe fierce competition, especially in the electric car industry. She noted that can help Chinese electric car companies respond more quickly to customers and market needs than traditional automakers. Geely has also released an electric car architecture called SEA that it says allows for quicker production of different sized vehicles.

Persons: Evelyn Cheng, Paul Gong, Nio, Elon, Feng Shen, Shen, William Li, Li, Jing Yang, Zeekr's, Parent, Ren Xiangfei, Ren, Geely, Tesla, Taylor Ogan Organizations: CNBC, UBS, Elon Musk's, Ford Motor, China's Ministry of Industry, Information Technology, Fitch, China Passenger Car Association, Snow Bull, Tech Locations: Hefei, Evelyn Cheng BEIJING – U.S, U.S, China, Nio, Hefei city, Anhui, Shanghai, Asia, Pacific, Zhejiang province, Hong Kong, Shenzhen

☆ The U.S. Must Stand Up to Beijing in the South China Sea - The New York Times
▼ + stars: | 2024-07-25 | by ( Oriana Skylar Mastro | ) www.nytimes.com time to read: +1 min

Over the past 15 years, China has expanded its once-minimal military presence in the South China Sea into a significant one. China has used nonmilitary assets such as its Coast Guard, fishing vessels and maritime militia to bully its neighbors, blockade their ships and build Chinese military bases on disputed islands. Like any unchallenged bully, China has become increasingly aggressive. Last month, Chinese Coast Guard personnel attacked a Philippine supply vessel with axes and other crude weapons — Manila says a Filipino sailor and several others were injured — in one of the worst acts of violence between China and its rivals in the South China Sea in years. The shoal lies about 120 miles off the Philippine island of Palawan and is well within the nation’s exclusive economic zone.

Persons: —, Shoal Organizations: Coast Guard Locations: China, South, Beijing, America, United States, Philippine, Manila, Filipino, Sierra Madre, Philippines, Palawan

☆ What a Professor’s Firing Shows About Sexual Harassment in China
▼ + stars: | 2024-07-25 | by ( Tiffany May | Zixu Wang | ) www.nytimes.com time to read: +1 min

In the video, the Chinese graduate student stared straight into the camera as she spoke. Then she issued an explosive accusation: A prominent professor at a top Chinese university had been sexually harassing her for two years. The next day, Renmin University fired Mr. Wang, saying that officials had investigated the student’s allegations and found that they were true. The swift response by the university reflected the growing pressure that Chinese academic institutions have come under to curb sexual harassment on campus. In recent years, several schools have been accused of not doing enough to protect their students from tutors and professors who preyed on them.

Persons: Wang Guiyuan, Wang Organizations: Communist Party, Renmin University’s School of Liberal Arts, Renmin University Locations: Beijing

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

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

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

☆ Mental health and the Olympics: How the USOPC is preparing for the toll on athletes
▼ + stars: | 2024-07-25 | by ( Nicole Auerbach | ) www.nytimes.com time to read: +10 min

AdvertisementThere are no surgeries or physical rehabilitation plans to address mental health challenges. Phelps has made mental health a huge focus in retirement, trying to help others avoid the feelings he endured. Bartley, who has worked with the USOPC since it created a mental health task force in 2020, said that her main goal over the past four years has been building out the organization’s infrastructure for therapy for mental health needs. Now, there are 15 psychological service providers — meaning those qualified to work on mental health, mental performance or even sleep. What does it mean to make the Olympic Games or not make the Olympic Games?

Persons: Simone Biles, ” Biles, “, ”, Jess Bartley, Michael Phelps, Cameron Spencer, Phelps, Caeleb Dressel, couldn’t, Bartley, ” Bartley, Dressel, Gretchen Walsh, raved, Lydia Jacoby, Tom Pennington, ” Jacoby, He’d, ” Dressel, I’m, it’s, Biles, “ She’s, Cecile Landi, ” “ She’s, ” Simone Biles ’, Jamie Squire, Dana O’Neil, Dan Goldfarb, Tim Clayton, Corbis, Francois Nel Organizations: Paris Games, Tokyo Games, U.S, Olympic, Paralympic Committee’s, Games, Olympic Games, Paris, Tokyo, Athletic, Tokyo Summer, Beijing Winter Games Locations: Tokyo, Alaska, it’s, France

☆ Russian and Chinese bombers were intercepted flying together for the first time near the US
▼ + stars: | 2024-07-25 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +1 min

The US intercepted Russian and Chinese bombers near Alaska on Wednesday. They weren't seen as a threat, but it's the first time the countries have been seen cooperating this way. AdvertisementNorth American Aerospace Defense Command said it sent fighter jets to intercept four Russian and Chinese bombers as they passed near Alaska on Wednesday. The military planes — two Russian Tu-95s and two Chinese H-6s — did not enter US airspace but passed through Alaska's Air Defense Identification Zone, NORAD said. An unnamed US defense official told CNN that it was the first time aircraft from the two countries had been intercepted together.

Persons: — Organizations: US, Service, Aerospace Defense Command, Alaska's Air, NORAD, CNN, Business Locations: Alaska, Beijing, Moscow, Russian

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

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

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

☆ China’s hosting Palestinian and Ukrainian delegations this week. But can it play peace broker in global conflicts?
▼ + stars: | 2024-07-25 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Hong Kong CNN —China’s top diplomat Wang Yi has had a busy week in which two devastating conflicts have loomed large. Kuleba’s visit was the first time in the nearly 29 months of Russia’s war on Ukraine that a high-level Ukrainian official has visited China. Official statements from Beijing and Kyiv after Wednesday’s Wang-Kuleba talks gave no indication that the Ukrainian diplomat had swayed Beijing toward Kyiv’s vision for peace. Observers say Beijing could, at some point, play a role in any potential future talks, but is unlikely to shift its relationship with Russia. But it was met with some skepticism from observers in the region given the failure of past attempts at unity.

Persons: Hong Kong CNN —, Wang Yi, Wang, Fatah, Dmytro Kuleba –, –, Kuleba, Beijing “, ” Wang, ”, Steve Tsang, Kuleba’s, Vladimir Putin, Volodymyr Zelensky, “, Zelensky, Russia ”, Antony Blinken, Mahmoud al, Mussa Abu Marzuk, Pedro Pardo, Beijing’s, Wednesday’s Wang, ” Kuleba, Xi, Chong Ja Ian, Donald Trump, Trump’s, JD Vance, ” Chong, Jonathan Fulton Organizations: Hong Kong CNN, Hamas, Ukrainian, SOAS China Institute, University of London, Beijing, NATO, Central Committee, Fatah, China's, Getty, Foreign Ministry, Ukrainian Foreign Ministry, Kyiv, Observers, West, National University of Singapore, Republican, Global, ”, Palestinian, US State Department, West Bank ”, Atlantic Locations: China, Hong Kong, Beijing, Gaza, Ukraine, Russia, United States, Russian, Kyiv, Laos, AFP, Guangzhou, Ukrainian, Moscow, China’s, ” Russia, India, Brazil, Israel

☆ U.S. Olympian cheat sheet: Top athletes to watch in Paris beyond the best-known stars
▼ + stars: | 2024-07-24 | by ( Alex Andrejev | ) www.nytimes.com time to read: +20 min

He won gold at the 2023 Pan American Games in Santiago, Chile, to qualify for the Paris Olympics. Judo — Maria LabordeLaborde, 33, is the highest-ranked U.S. judoka qualified for the Paris Games — at No. He won gold at the 2023 Pan American Games and qualified in speed climbing for the Paris Games, his first Olympics. Carissa Moore participates in a training session ahead of the Paris Olympics this week in Teahupo’o, French Polynesia. Knibb obtained quotas in both triathlon and road cycling for the Paris Games, which will make her a rare multi-sport Olympian.

Persons: Simone Biles, Katie Ledecky, LeBron James, Barry, Kareem Maddox, Dylan Travis, Dearica Hamby, Rhyne Howard, Cierra Burdick, Hailey Van Lith, Casey Kaufhold, Kaufhold, she’s, Luann Ryon, Dean Alberga, Anita Alvarez Alvarez, Alvarez, Andrea Fuentes, Fuentes, Beiwen Zhang Zhang, She’s, Zhang, Kelly Cheng Cheng, nee Claes, Sarah Sponcil, Cheng, Sara Hughes, They’re, Brazil’s Ana Patricia Silva Ramos, Eduarda “ Duda ” Santos, United States ’ Taryn Kloth, Kristen Nuss, Jahmal Harvey Harvey, USA’s, Harvey, — Victor Montalvo Montalvo, Montalvo, Boy Victor, ”, Paris Victor Montalvo, He’ll, Kenzo Tribouillard, — Nevin Harrison Harrison, Casey Eichfeld, Jennifer Valente Valente, Valente, Andrew Capobianco Capobianco, Michael Hixon, Capobianco, Carson Tyler, Mike Ruiz, Delaney Schnell, Jessica Parratto, — McLain Ward Ward, Ward, Sapphire, — Lee Kiefer Kiefer, Gerek Meinhardt, Lee Kiefer, Matthias Hangst, Amanda Golini, Ashley Hoffman, Golini, Hoffman, — Maria Laborde Laborde, Laborde, Jess Davis Davis, Meghan Musnicki, Lisa Schlenker’s, Musnicki, Kevon Williams Williams, Williams —, Houston —, Kevon Williams, Yong Teck Lim, Daniela Moroz Moroz, Moroz —, —, — Vincent Hancock Hancock, he’s, Al Oerter, Carl Lewis, Michael Phelps, TeamUSA.com, Jagger Eaton Eaton, Tom Schaar, Eaton, Sam Watson Watson, Carissa Moore Moore, Moore, Carissa Moore, Jerome Brouilett, Lily Zhang It’s, China, — CJ Nickolas Nickolas, Jessica Stevens, — Taylor Knibb Knibb, Knibb, — Jordan Larson Larson, Toru Hanai, Maggie Steffens Steffens, Steffens, Flav, Olivia Reeves Reeves, Reeves, — Aaron Brooks, Brooks, David Taylor, Spencer Lee, Lee, Iran’s Hassan Yazdani, Aaron Brooks, Fabrice Coffrini Organizations: Paris Olympics, Olympic, Paris Games, BYU, Games, Tokyo Games, Getty, Badminton, USA, USC, Trojans, Eduarda “ Duda ” Santos Lisboa, United, U.S, Pan American, USA Boxing, Red Bull, Paris, Madison, U.S . Olympic, Tokyo, Athens Games, Beijing, University of Kentucky, FIH, Team USA, Pan American Games, NBC Sports, Rio, Rugby, rugby, Olympics, Fiji, New Zealand, HSBC SVNS Singapore, USA.com, Los Angeles Games, X, —, Tokyo Olympics, Nebraska, Sydney Games, Beijing Games, Brazil, Team USA’s Locations: Paris, Tokyo, U.S, women’s recurve, Berlin, Russia, Ukraine, Budapest, Barcelona, China, Indonesia, Mexico, United States, Santiago , Chile, Belgrade, Serbia, Florida, AFP, Rio, Japan, Athens, Ranchi, India, Germany, Lima , Peru, Cuba, London, Houston, Wujiang, Hawaii, Teahupo’o, French Polynesia, Beijing, Penn

☆ China just made another audacious bid to challenge the US as a key Middle East power broker
▼ + stars: | 2024-07-24 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Read previewIn the nine-month war between Israel and Hamas, an unlikely nation has emerged as a key power broker in the Middle East: China. Reconciling the groups with an eye to building a postwar Palestinian government is a diplomatic coup for Beijing, after years of trying to position itself as a power broker in the Middle East. China challenges US might in the Middle EastIn the last few years, China has challenged US influence in the Middle East. In 2023, it helped broker a restoration of diplomatic relations between Iran and Saudi Arabia after decades of proxy conflict. "China also doesn't want to sacrifice much to advance any of its interests in the Middle East," Jon Alterman, an analyst with the Center for Strategic and International Studies, told the US Congress in April.

Persons: —, Fatah, Wang Yi, It's, Ali Wyne, Aaron David Miller, Wyne, Jon Alterman Organizations: Service, Hamas, Reuters, Business, PLO, West Bank, Crisis, Palestinian, Center for Strategic, International Studies Locations: Israel, East, China, Beijing, Gaza, Fatah, Washington, Iran, Saudi Arabia, Saudi, States

☆ Major global chip equipment makers' China revenue share has doubled since U.S. imposed export controls
▼ + stars: | 2024-07-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Four of the world's largest semiconductor equipment manufacturers, including ASML , have seen the share of their China revenue more than double since late 2022, Bank of America analysts said in a report Monday. "China accelerated its purchase of semi manufacturing equipment since the U.S. imposed tighter export restrictions in October 2022, aiming to develop its own semi manufacturing capability," the report said. The research found the companies' China revenue more than doubled from 17% of their total revenue in the fourth quarter of 2022 to 41% in the first quarter of 2024. The U.S. in October 2022 started imposing sweeping export controls on U.S. sales of advanced semiconductors and related manufacturing equipment to China. Last week, Bloomberg reported, citing sources, that the Biden administration was considering broader restrictions on semiconductor equipment exports to China that could affect non-U.S. companies.

Persons: Biden Organizations: BEIJING, Bank of America, Lam Research, KLA Corp, Materials, Bloomberg, VanEck Semiconductor Locations: China, U.S, Beijing

☆ Elon Musk says he expects China to approve Full Self-Driving by the end of the year
▼ + stars: | 2024-07-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Tesla China sales fell by 5.4% in the first half of the year, although the company retained third place in new energy vehicle sales, behind BYD and Geely, according to the China Passenger Car Association. BEIJING — Tesla CEO Elon Musk has again touted the impending rollout of advanced driver-assist software in China, after reporting another quarter of disappointing earnings. "Pretty soon, we will ask for regulatory approval of the Tesla-supervised FSD in Europe, China and other countries. China accounts for about 22% of Tesla's sales. Musk in April had said rollout to China "may be possible very soon," according to his response to a question on X.

Persons: Elon Musk, Musk Organizations: China Passenger Car Association, BEIJING —, Tesla, Beijing Locations: China, Europe, United States, Canada

☆ 2024 Paris Olympics viewer’s guide: NBC’s plans, Snoop Dogg, and the big ratings question
▼ + stars: | 2024-07-24 | by ( Richard Deitsch | ) www.nytimes.com time to read: +18 min

Follow our Olympics coverage in the lead-up to the Paris Games. The Paris Games will have more programming hours on the NBC broadcast network than any previous Olympics. NBC is upping its celebrity presence for its Olympic coverage in Paris, headlined by Snoop Dogg. “Research shows that it is a challenge to keep viewers after 10 p.m. ET,” NBC Olympics producer Rob Hyland said. NBCUniversal owns the U.S. media rights to the Olympic Games through 2032, so Paris (2024), Milan-Cortina (2026), Los Angeles (2028) and Brisbane (2032).

Persons: Peacock, Molly Solomon, NBC’s, “, ” Solomon, Solomon, Snoop, Snoop Dogg, Christian Petersen, Kelly Clarkson, Peyton Manning, Mike Tirico, Alex Cooper, Leslie Jones, Kevin Hart, Kenan Thompson, Colin Jost, Cooper, Simone Biles, Manning, Ryan Crouser, Jones, Katie Ledecky, Sha’Carri Richardson, Lily Collins, Anna Hall, Ledecky, LeBron James, Sydney McLaughlin, Kelly Campbell, Peacock’s, Scott Hanson, Andrew Siciliano, Jac Collinsworth, Matt Iseman, Akbar Gbajabiamila, ”, Al Michaels, Mark Lazarus, Sanya Richards, Ross, Rowdy Gaines, Tim Daggett, Laurie Hernandez, Samantha Peszek, Misty, Julie Foudy, Dwyane Wade, LaChina Robinson, Michael Phelps, Dan Hicks, Gaines, Maddie Meyer, they’ll, Rob Hyland, Andres Cantor, Rebecca Lowe, Craig Melvin, Ahmed Fareed, Damon Hack, Maria Taylor, Cara Banks, Laura Britt, Trenni Casey, Lindsay Czarniak, Carolyn Manno, Kathryn Tappen, John Roethlisberger, “ John, He’s, …, breaststroker Lilly King wagged, Ryan Murphy, Sunny Choi, Victor Montalvo, Joe Gesue, Ron Vaccaro, NBCU, it’s, NBCUniversal, Rick Cordella, Dan Goldfarb, Stuart Franklin Organizations: Paris, NBC, Paris Games, U.S, Tokyo Olympics, Olympics, NBC Olympics, NBC’s, Getty, NBC Sports, Tokyo Games, Beijing, Games, USA, CNBC, Golf Channel, Telemundo, Universo, NBCOlympics.com, “, ”, NFL, NBCUniversal Media, Paris La Défense, Research, Olympic, Grand Palais, Concorde, NBC Sports ’, Olympic Games, Cortina Locations: Paris, Beijing, Pyeongchang, South Korea, Central, Pacific, U.S, Paris ”, Teahupo’o, Tahiti, Rio de Janeiro, Brazil, China, Rio, Tokyo, Peacock, United States, Versailles, Grand, London, Russian, Norway, South Carolina, Milan, Los Angeles, Brisbane, French

☆ Trump 2.0 could go 'nuclear' on China trade, while economists say Harris would remain tough
▼ + stars: | 2024-07-24 | by ( Dylan Butts | ) www.cnbc.com time to read: +5 min

According to Prasad and other experts, Harris' approach to China would likely be similar to that of Biden. Trump's biggest diversion from Biden-era trade policy would likely be tariffs levied on China. The Trump administration reached a "phase one trade deal" with China in 2019, but few terms were honored and subsequent phases never materialized. Tech warwatch nowThe Biden administration also announced rules limiting U.S. investment in Chinese firms developing sensitive technologies, citing national security concerns. She said channels for the two countries to discuss policy issues decreased significantly during the Trump administration, whereas the Biden administration emphasized its diplomatic engagement efforts.

Persons: Donald J, Trump, Bill Pugliano, Donald Trump, Joe Biden, Eswar Prasad, Kamala Harris, Biden, Prasad, Harris, Biden —, Stephen Weymouth, Economist Stephen Roach, William Reinsch, Scholl, Reinsch, JD Vance, Arthur Dong, Chris Miller, Miller, Rorry Daniels Organizations: Van, Getty, House, CNBC, U.S, Cornell University, Trump, International Monetary, Georgetown University, Economist, Center for Strategic, International Studies, Beijing, Georgetown, Tech, Asia Society Policy Institute Locations: Grand Rapids , Michigan, China, Beijing, Ohio, Washington, U.S, Japan, Netherlands

☆ France’s forgotten athletes: As the world tunes in to the Olympics, many of Paris’ poorer suburbs see little benefit
▼ + stars: | 2024-07-24 | by ( Emily Blumenthal | ) edition.cnn.com time to read: +13 min

But if you walk a short distance away from the sparkling Stade de France, which is about six miles from downtown Paris, you’ll find a very different world. The Stade de France will host track and field events and Rugby sevens game during the Paris 2024 Olympic Games. Geoffroy Van Der Hasselt/AFP/Getty ImagesWorkers prepare an information board outside Stade de France in Saint Denis on July 3. Investment fueled by the Olympics has poured into Seine-Saint-Denis to fund improved public transit, more green spaces and better-quality housing, Troussel said. Funding for track and field facilities is entirely dependent on local governments.

Persons: you’ll, Denis, Geoffroy Van Der, Pierre Crom, Stéphane Troussel, Troussel, –, Denis –, “, “ It’s, ” Stéphane, Annette Kellermann, Emmanuel Macron, Laurence Baillargeau, Kylian Mbappé, Baillargeau, ” Baillargeau, ” Troussel, There’s, Denis Émotion, ”, Sandra Ribeiro, Ribeiro, ” Ribeiro, CSME Athlétisme, Cedric Jacqué, Anna Viallard, Athlétisme, Ville, Viallard, Mallory Leconte, Mallory Leconte “, ” Leconte, ‘, ” Viallard, doesn’t, Mbappé, Baptiste Fernandez, Ait, Mouffok Organizations: CNN, Stade de France, Paris Olympics, Games, ” Regional, Olympics, Rugby, Getty Images Workers, Paris, Denis Departmental Council, Investment, Greater, Local, Real Madrid soccer, AS Bondy, Saint, Bois, CNN Sport, Parc Municipal des Sports, FFA, Team France, team, AS Bondy can’t Locations: Paris, France, Saint, Geoffroy Van Der Hasselt, AFP, Saint Denis, Seine, – Paris, Greater Paris, Île, La Courneuve, Bondy –, Montreuil, Portugal, Beijing, Aulnay, Perfe, Bondy, Épinay, Parc, Tenerife, Stade, €, CA Sevran, Ait Mouffok, CSME, London

☆ China released a 22,000-character plan for its economy that doesn't say very much
▼ + stars: | 2024-07-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

China's Third Plenum meeting ended with a vague economic plan, disappointing analysts. China's economy is struggling amid a property crisis and weak consumer spending. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementLast week, China held a major meeting to draft out long-term strategies for its economy. At the end of the meeting, called the Third Plenum, Beijing released a lengthy document spanning 22,000 Chinese characters.

Persons: — Organizations: Service, Plenum, Business Locations: China, Beijing

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

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

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

Search resuls for: "Beijing"

25 mentions found