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☆ Gold pulls back but dovish Fed sets it for best quarter since 2016
▼ + stars: | 2024-09-30 | by ( ) www.cnbc.com time to read: +2 min

Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. Spot gold was down 0.2% at $2,653.38 per ounce, as of 0404 GMT, owing to a rise in the U.S. dollar . A stronger dollar makes gold less attractive for other currency holders. Bullion has risen slightly over 14% so far this quarter, its best since January 2016. This boosted expectations of an another outsized interest rate cut at the Fed's November policy meeting.

Persons: Tim Waterer, nonfarm, Jerome Powell, Michelle Bowman, Waterer Organizations: U.S ., Federal, KCM, U.S, Sunday Locations: Siberian, Krasnoyarsk, Russia, U.S, Israel, Yemen, Lebanon

☆ China's yuan jumps to 16-month high, state banks step in to curb gains
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: +2 min

China's yuan rose to its strongest level in nearly 16 months on Friday on bets that Beijing will unveil fresh economic stimulus following a jumbo U.S. rate cut, though gains were capped by dollar buying from Chinese state banks. The onshore yuan strengthened to as much as 7.0420 per dollar, the firmest level since May 24, 2023, on track for a six-session rising streak. The Fed cut rates by a larger than usual 50-basis-points on Wednesday. On Friday, China's major state-owned banks were seen buying dollars in the onshore market to prevent the yuan from appreciating too fast. Prior to the market opening, the People's Bank of China set the midpoint rate at 7.0644 per dollar, its strongest in nearly 16 months.

Persons: recouping, Zhiwei Zhang, Yang Fan Organizations: Citic Securities, People's Bank of Locations: Beijing, China, U.S, People's Bank of China

☆ The new Trump trade is bitcoin, price could top $80,000 if he wins election, according to Bernstein
▼ + stars: | 2024-09-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

As November's Election Day draws nearer, so does bitcoin's eventual breakout from this year's narrow trading range, according to Bernstein. "We expect bitcoin to claim back new highs, in case of a Trump win and by Q4, we expect bitcoin to reach close to $80,000-$90,000 range. However, if Harris wins, we expect bitcoin to break the current floor around $50,000 and test the $30,000-$40,000 range, which it was when the bitcoin ETF momentum started in Q4'2023." BTC.CM= YTD mountain Bitcoin year-to-date Standard Chartered has forecast a bitcoin rally to $150,000 if Trump wins. "After last 3 years of regulatory purge, a positive crypto regulatory policy, can spur innovation once again and bring the users back to financial products on the blockchain."

Persons: Bernstein, Donald Trump, Kamala Harris, Gautam Chhugani, Harris, Trump, Gary Gensler, Chhugani, Massachusetts Sen, Elizabeth Warren's, TD Cowen, Joe Biden's Organizations: Trump, Securities, Exchange, Democratic Locations: —, U.S, Q4'2023, Nashville, Massachusetts

☆ If the US bans TikTok, China will be getting a taste of its own medicine
▼ + stars: | 2024-03-14 | by ( Laura He | ) edition.cnn.com time to read: +7 min

But American apps have long been barred in China. “The TikTok bill appears likely to become law and China’s displeasure seems ironic, if not hypocritical, given its stance toward American social apps,” said Brock Silvers, managing director at Kaiyuan Capital. The Chinese government has said it strongly opposes a forced sale of TikTok, and it has the legal ability to do so. A man walks past the headquarters of ByteDance, the parent company of TikTok, in Beijing. “While China has completely banned [these] American apps, TikTok enjoys all the benefits of America’s free and open legal and political systems,” he said.

Persons: Hong Kong CNN — TikTok, ByteDance doesn’t, Wang Wenbin, ”, Brock Silvers, Wang, Joe Biden, TikTok, CNN Beijing’s, Trump, Greg Baker, “, Winston Ma, Silvers, Alex Capri, Craig Singleton, “ We’ve, ” Capri Organizations: Hong Kong CNN, US, Foreign Ministry, Google, Kaiyuan, Chinese Commerce Ministry, ByteDance, Trump, CNN, Commerce Ministry, Getty, New York University School of Law, Foundation, National University of Singapore Business School, Foundation for Defense of Democracies, Weibo, Twitter, Facebook Locations: China, Hong Kong, United States, Beijing, TikTok, ByteDance, AFP, Washington, Washington , DC

☆ Aespa’s Karina apologizes to K-pop fans after relationship reveal sparks backlash
▼ + stars: | 2024-03-07 | by ( Jessie Yeung | Yoonjung Seo | ) edition.cnn.com time to read: +5 min

Seoul, South Korea CNN —Are K-pop stars allowed to love? Under Karina’s apology post on Wednesday, the comment section was flooded with fans rallying in support. “No idols (K-pop stars) should apologize for dating in 2024,” one top comment read. And while there were messages of support there, too, there were plenty of disgruntled fans who weren’t satisfied with Karina’s apology. “Other fans pointed out that Karina’s apology hadn’t mentioned the status of her relationship – speculating that was simply confirmation they were still dating.

Persons: Karina, Lee Jae, wook, ”, “, Hyuna, Dawn, Jisoo, Ahn Bo, hyun, Aespa, hadn’t Organizations: South Korea CNN, Chosun Ilbo, Entertainment, Triple H, CNN, Twitter Locations: Seoul, South Korea, Asia, Instagram, Japan, Weibo

☆ Chinese authorities crack down on dogs after a Rottweiler mauls a toddler. But some say they’ve gone too far
▼ + stars: | 2023-10-31 | by ( Chris Lau | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —A shocking video of a Rottweiler mauling a 2-year-old girl in China has prompted a crackdown by local authorities on stray dogs that some argue has now gone too far. Since then, local authorities in a raft of provinces including Shandong, Jiangxi, Yunnan, Hunan, Anhui have stepped up law enforcement, some more heavy-handed than others. Stray dogs are the main targets, but pets who are unleashed can also be subject to control measures. The country is home to 40 million stray dogs, according to the 2021 China Pet Industry white paper. In defense of stray dogsThis is not the first time Chinese authorities have been accused of being heavy-handed with animals.

Persons: netizens, ”, Kevin Frayer, Xiao Huang, Shepherd, Cya Liu, “, Bo Ai Organizations: Hong Kong CNN, Authorities, Weibo, Industry, Beijing, Hong Kong, Bo Ai Animal Protection Locations: Hong Kong, China, Chongzhou, China’s, Sichuan, Shandong, Jiangxi, Yunnan, Hunan, Anhui, Beijing, Yanzhou, Chongqing, Weibo, Shanghai, Guangyuan

President Joe Biden reaffirmed his “unshakeable” commitment to defending Israel on Wednesday as concerns mount over the potential for nearby countries and militant groups to take advantage of the chaotic situation and broaden the conflict. And the horrors of Hamas’ Saturday attack continue to unfold, with reports of children found butchered in a kibbutz. As it stands, at least 1,200 people have been killed in Israel, including at least 22 Americans. He said that the U.S. is well equipped to support Israel while also continuing to aid Ukraine as it defends itself against Russia. “We will stand firmly with Israel as we continue to support Ukraine.”

Persons: Joe Biden, ” Biden, ”, “, It’s, Biden, Benjamin Netanyahu, Kevin McCarthy, Steve Scalise, he’ll, Defense Lloyd Austin, Austin, Jake Sullivan, “ We’ve, they’ve, Sullivan, Volodymyr Zelenskyy, ” Austin Organizations: Israel, Israeli, House Foreign Affairs, Iran, Republicans, Defense, Department of Defense, American, intel, Hamas, State Department, Hezbollah, White, National, Ukraine Defense Contact, Ukraine Locations: United States, Israel, Gaza, U.S, Iran, Louisiana, Lebanon, Lebanese, The U.S, Brussels, Ukraine, Russia

Some users and analysts who bought the Mate 60 Pro say it uses a Chinese-made chip and is capable of 5G speeds. We are working overtime urgently to manufacture more so that more people can buy our products," Yu said. [1/4]People check a Huawei Mate 60 smartphone displayed at a Huawei flagship store in Beijing, China September 25, 2023. Huawei updated its official website after the event to add prices for its Mate 60 Pro+, which will start from 8,999 yuan ($1,230), and the Mate 60 RS Ultimate Design version, which is priced from 12,999 yuan. One shopper in the Beijing store, 29-year-old engineer Zhang Nianrong, said he saw the Mate 60 Pro as "carrying significance far beyond its value" and planned to buy it.

Persons: Gina Raimondo's, Apple's, Yu Chengdong, Yu, Maniler, Nelson Mandela, Florence Lo, Bryan Ma, Meng Wanzhou's, Washington . Meng, Ren Zhengfei, Zhang Nianrong, Yelin Mo, Brenda Goh, Sophie Yu, Himani Sarkar Organizations: Huawei Technologies, Huawei, U.S . Commerce, Weibo, REUTERS, IDC, Thomson Locations: BEIJING, SHANGHAI, China, Hong Kong, South Africa, Beijing, Iran, U.S, Washington

☆ China loosens its pandemic-era ban on citizens joining group tours abroad
▼ + stars: | 2023-08-11 | by ( ) edition.cnn.com time to read: +4 min

CNN —China has lifted pandemic-era restrictions on group tours for more countries, including key markets such as the United States, Japan, South Korea and Australia, in a potential boon for their tourism industries. Prior to the pandemic, mainland Chinese tourists spent more than any other country’s tourists when abroad, clocking up a combined $255 billion in 2019 with group tours estimated to account for roughly 60% of that. Just how much outbound Chinese tourism will bounce back for the latest group of countries remains to be seen. “The opening of group travel from China to the U.S. is a significant milestone,” said Adam Burke, head of the Los Angeles Tourism and Convention Board. China has never publicly acknowledged limiting group tours to South Korea.

Persons: Gina Raimondo, –, Fumio Kishida, ”, Don Farrell, Steve Saxon, Adam Burke, “ Organizations: CNN, US Commerce Department, Japanese, Trade, Tourism, Weibo, McKinsey & Co, “, Los Angeles Tourism, Reuters Locations: China, United States, Japan, South Korea, Australia, Germany, Canada, Thailand, Russia, Cuba, Argentina, Nepal, France, Portugal, Brazil, Xinjiang, Los Angeles, U.S

Travellers walk past an installation in the shape of five stars, at Beijing Daxing International Airport in Beijing, China April 24, 2023. REUTERS/Tingshu Wang/file photoBEIJING, Aug 10 (Reuters) - China has lifted pandemic-era restrictions on group tours for more countries, including key markets such as the United States, Japan, South Korea and Australia in a potential boon for their tourism industries. Just how much outbound Chinese tourism will bounce back for the latest group of countries remains to be seen. Shares in firms in the latest group of countries with large exposure to Chinese travel demand jumped on the news. China has never publicly acknowledged limiting group tours to South Korea.

Persons: Tingshu Wang, Fumio Kishida, Don Farrell, Steve Saxon, Casey, Sophie Yu, Joyce Lee, Jamie Freed, Edwina Gibbs Organizations: Beijing Daxing International, REUTERS, Japanese, Trade, Tourism, Weibo, McKinsey & Co, South, Grand Korea, Reuters, Casey Hall, Thomson Locations: Beijing, China, BEIJING, United States, Japan, South Korea, Australia, Germany, Britain, Canada, Thailand, Russia, Cuba, Argentina, Nepal, France, Portugal, Brazil, Xinjiang, South Korean, U.S, Shanghai, Seoul

☆ They dated as teenagers. 40 years later, she decided to go on vacation with him
▼ + stars: | 2023-04-14 | by ( Francesca Street | ) edition.cnn.com time to read: +13 min

“Our hallways in this school, they were outside, and so there’s this beam of sunlight shining down on her,” recalls Bo. “I’d say, ‘Come to my window and I’ll talk to you through the window,’” recalls Beverly. The former flames, now both 60, received invites to their 40th high school reunion, taking place at the Clinton Presidential Library in Little Rock. A high school reunionBo and Beverly reunited at a high school reunion and got to know one another on a subsequent sailing vacation. It was “literally a shack of driftwood and washed up lumber slapped together haphazardly on a remote beach,” recalls Bo.

HONG KONG — Marvel films are set to be released on screens in mainland China for the first time in more than three years, the endgame for an apparent ban in the world’s second-largest movie market. The China Film Administration, a division of the ruling Communist Party’s propaganda department that approves all foreign film releases, gave no official explanation for the blocking of those films. Marvel’s brief announcement did not mention the earlier films or say why “Black Panther” and “Ant-Man” were being released. Marvel fans in China welcomed news of the two new releases. Others lamented the films that had not made it to Chinese theaters.

☆ Mainland Chinese citizens are eager to travel — for the West's mRNA Covid vaccines
▼ + stars: | 2023-01-10 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Passengers prepare to enter Shenzhen through the Lok Ma Chau Spur Line Control Point on the first day of the resumption of normal travel between Hong Kong and mainland China on Jan. 8, 2023 in Hong Kong. Analysts expect that the list of destinations for vaccine tourism will grow. 'Natural first destination': Hong Kong"I believe that the natural first destination of the Chinese vaccine tourism is Hong Kong. "It's been long since I went to Hong Kong. But Hong Kong won't provide free Covid vaccinations to short-term travelers.

Now, as the country rapidly relaxes restrictions, millions of people have been told to keep going to work — even if they’re infected. For three years, its stringent approach has kept Covid cases and deaths relatively low in the country. Covid control workers walk by a closed shop near a community with residents under health monitoring for Covid on December 4 in Beijing. Top leaders at the Central Economic Work Conference, a key annual meeting that ended Friday, said in a statement that stabilizing economic growth was the top priority for 2023. Officials nationwide had worked frantically to contain Covid cases ahead of the highly sensitive twice-a-decade leadership reshuffle, which saw Chinese leader Xi Jinping emerge more powerful than ever into his third term.

☆ Chinese cities announce further easing of COVID curbs
▼ + stars: | 2022-12-04 | by ( Martin Quin Pollard | ) www.reuters.com time to read: +5 min

REUTERS/David 'Dee' DelgadoBEIJING, Dec 4 (Reuters) - More Chinese cities including Urumqi in the far west announced easing of coronavirus curbs on Sunday, as China tries to make its zero-COVID policy more targeted and less onerous after extraordinary protests against restrictions last weekend. A deadly apartment fire last month in Urumqi had sparked dozens of protests against COVID curbs in over 20 cities, a show of civil disobediance unprecedented in mainland China since President Xi Jinping took power in 2012. On Saturday in Beijing, local authorities said purchasing fever, cough and sore throat medicines no longer requires real name registration. "We shouldn't shut down COVID testing stations until we get rid of the COVID test pass." GLOBAL OUTLIERXi's zero-COVID policy has made China a global outlier nearly three years into the pandemic, which started in the central Chinese city of Wuhan.

☆ How long will it take to know who won in U.S. midterm elections?
▼ + stars: | 2022-11-06 | by ( Jason Lange | ) www.reuters.com time to read: +4 min

Republicans would need to pick up five seats to take a majority in the House and just one to control the Senate. "When it comes to knowing the results, we should move away from talking about Election Day and think instead about election week," said Nathan Gonzales, who publishes the nonpartisan newsletter Inside Elections. BLUE MIRAGE, RED MIRAGEThe earliest vote tallies will be skewed by how quickly states count mail ballots. States including Pennsylvania and Wisconsin don't allow officials to open the envelopes until Election Day, leading to a possible "red mirage" in which Republican-leaning Election Day ballots are reported earlier, with many Democratic-leaning mail ballots counted later. California typically takes weeks to count all its ballots, in part because it counts ballots postmarked by Election Day even if they arrive days afterward.

☆ American Executives in Limbo at Chinese Chip Companies After U.S. Ban
▼ + stars: | 2022-10-16 | by ( Liza Lin | Karen Hao | ) www.wsj.com time to read: 1 min

SINGAPORE—American workers hold key positions throughout China’s domestic chip industry, helping manufacturers develop new chips to catch up with foreign rivals. Now, those workers are in limbo under new U.S. export control rules that prohibit U.S. citizens from supporting China’s advanced chip development. At least 43 senior executives working with 16 publicly listed Chinese semiconductor companies are American citizens, according to an examination of company filings and official websites by The Wall Street Journal. Many of them hold C-suite titles, from chief executive to vice president and chairman.

☆ NBA Hall of Famer Dikembe Mutombo undergoing treatment for brain tumor
▼ + stars: | 2022-10-15 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

Basketball Hall of Famer Dikembe Mutombo is undergoing treatment in Atlanta for a brain tumor, the NBA announced Saturday. He also appeared with U.S. Secretary of State Antony Blinken at an event in the Congo, Mutombo’s native country, in August. “Dikembe and his family ask for privacy during this time so they can focus on his care. They are grateful for your prayers and good wishes.”The family did not release any other details, including what prompted the tumor being discovered. The 56-year-old Mutombo spent 18 seasons in the NBA, playing for Denver, Atlanta, Houston, Philadelphia, New York and the then-New Jersey Nets.

☆ Biogen’s $11 bln Alzheimer’s gain has cushion
▼ + stars: | 2022-09-28 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, Sept 28 (Reuters Breakingviews) - An effective treatment for Alzheimer’s disease has long been the holy grail for drug companies. The $11 billion pop in Biogen’s (BIIB.O) market capitalization on Wednesday morning looks impressive but implies some skepticism that Japan’s Eisai (4523.T), and its partner Biogen, have found it. If the drug is priced at $20,000 a patient annually after discounts, it implies around 330,000 take it. Considering the disease affects far more people globally and there are no effective treatments, this seems like a low bar. Eisai will present the study’s results in late November and said it will publish the results in a peer-reviewed journal.

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