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☆ Consumer giants from Starbucks to General Mills have one big sales problem: China
▼ + stars: | 2024-08-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — A theme emerging in the latest slew of U.S. companies' earnings reports is a drag from the China market. "Consumer sentiment in China is quite weak," McDonald's chairman, CEO and director Christopher Kempczinski, said of the quarter ended June 30. Apple said Greater China sales fell by 6.5% year-on-year in the quarter ended June 29. Procter and Gamble said China sales for the quarter ending late June fell by 9%. The only public disclosures regarding Peet's China business described it as "strong double-digit organic sales growth" in the first half of the year.

Persons: —, Christopher Kempczinski, McDonald's, Lei Meng, Apple, Johnson, that's, General Mills, Kofi Bruce, Mills, Andre Schulten, Procter, Gamble, Schulten, Marriott's, Domino's, DPC Dash, There's, James Quincey, Quincey, We've, Laxman Narasimhan, Luckin Organizations: Nurphoto, Getty, BEIJING, U.S, Nationwide, UBS Securities, General, Procter, Marriott, Asia Pacific, Starbucks Locations: Yichang, Hubei province, China, U.S, Canada, Greater China, Southeast Asia, Japan, South Korea, Asia, Peet's

☆ Squeeze on carry trades leave currency markets on edge
▼ + stars: | 2024-08-06 | by ( ) www.cnbc.com time to read: +3 min

The Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023. The yen was 1% lower on Tuesday at 145.78 per dollar in early trading, after rising for five straight sessions and touching a seven-month high of 141.675 on Monday. "Sell-offs that manifest themselves through wild swings in the currency markets are sharp and swift, but usually very short lived," said Jamie Cox, managing partner at Harris Financial Group. "Markets are clearly nervous about the divergent paths central banks are taking, leading to lots of volatility." The dollar index , which measures the U.S. unit versus six rivals, was flat at 102.87 in early trading after touching a seven-month low of 102.15 on Monday.

Persons: Jamie Cox, James Athey, undervaluation Organizations: U.S, Federal Reserve, Federal, Harris Financial, Traders, Bank of Japan, Marlborough Investment Management Locations: Yichang, Hubei province, recessionary, Japan, Switzerland, Tokyo

☆ Yen rises to 7-month highs as U.S. slowdown fears carry over
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: +1 min

Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023. The selling continued on Monday, with U.S. Treasury yields falling further, stock indexes in the red and currencies slightly less volatile but down against the dollar and yen. The safe-haven and carry-funding favorite, the yen, was traded at 145.43 yen , up 0.8% versus the dollar, after hitting a mid-January peak of 145.28 in early deals. The euro was flat at $1.091, the dollar index was nearly flat too at 103.17 while the Australian dollar fetched $0.6495 and was down 0.25%. "The U.S. economy is showing signs of slowdown but it's not as bad as the market is pricing in."

Persons: Masafumi Yamamoto Organizations: U.S, Fed, Treasury, Mizuho Securities Locations: Yichang, Hubei province, Asia, Tokyo, U.S

☆ Dollar firm, yen under watch ahead of key US CPI release
▼ + stars: | 2024-04-10 | by ( ) www.cnbc.com time to read: +3 min

The Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023. The inflation data follows a strong jobs report last Friday that blew past forecasts, raising questions on how soon and how much the central bank will cut rates this year. On the yen, Wednesday's CPI data will be "a big test for Japanese authorities," Kong added. The U.S. dollar index , which measures the greenback against six rivals, held firm at 104.12. The kiwi climbed as high as $0.6077 versus the U.S. dollar, its strongest since March 21, before flattening at $0.60595.

Persons: Carol Kong, Kong, Kazuo Ueda, Sterling, bitcoin Organizations: U.S, Reserve Bank of New, Commonwealth Bank of Australia, Bank of Japan, Reserve Bank of New Zealand, U.S ., Treasury, Traders, European Central Bank, ECB Locations: Yichang, Hubei province, Reserve Bank of New Zealand, U.S, China

☆ Dollar pares gains on soft U.S. inflation data
▼ + stars: | 2024-01-12 | by ( ) www.cnbc.com time to read: +3 min

The dollar index pared gains on Friday after U.S. producer prices unexpectedly fell in December, raising expectations of an early U.S. rate cut. That led traders to add to bets for a rate cut in the coming months. Fed funds futures now imply a 79% chance of a March rate cut, up from 73% on Thursday, according to the CME Group's FedWatch Tool. Traders maintained their view that a March rate cut is likely even after consumer price inflation data on Thursday came in above economists' expectations. The dollar index was last up 0.19% at 102.40.

Persons: Steve Englander, Englander, Martin Luther King Jr, Sterling, bitcoin Organizations: U.S, British, Global, Research, Standard Chartered Bank, Branch, Traders, U.S . Securities, Exchange Commission, Wednesday Locations: Yichang, Hubei province, U.S, Yemen, America, Zealand, Iran, Red, Gaza

☆ El Niño's 'sweet tooth' means indulgent treats could soon be even more expensive
▼ + stars: | 2023-12-25 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

Futures contracts on orange juice , cocoa , coffee and sugar have soared in part because of extreme weather and supply concerns related to El Niño. "You can say El Niño has a sweet tooth because it sort of eats or takes away much of the sugar in the world," Carlos Mera, head of agri commodities market research at Netherlands-based Rabobank, told CNBC. "Sugar prices have probably already been passed on [to consumers] but certainly for chocolate we should expect a big increase at retail level — and El Niño is certainly something to watch." Joe Raedle | Getty Images News | Getty ImagesThe effects of El Niño tend to peak during December, but the impact typically takes time to spread across the globe. It also warned that several crops could be adversely affected by El Niño early next year, while acknowledging there is the potential for some crops to benefit, citing those in the United States, southern Brazil and Argentina.

Persons: El, Carlos Mera, El Niño, Joe Raedle, Dave Reiter, Reiter, Sia Kambou Organizations: Future Publishing, Rabobank, CNBC, Getty, Reiter Capital Investments, Twitter, Workers, Afp Locations: Yichang City, China's Hubei, Netherlands, El, Orange, Miami , Florida, Southeast Asia, India, Australia, Africa, United States, Brazil, Argentina, Florida, Hermankono

☆ Dollar hovers near 2-1/2-month lows, easing pressure on yen
▼ + stars: | 2023-11-22 | by ( ) www.cnbc.com time to read: +3 min

The Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023. The dollar index held around 2-1/2-month lows after minutes of the Federal Reserve's last meeting did little to dislodge market expectations that its monetary tightening cycle was over. Treasury yields slipped again overnight to hover around 4.40%, easing further pressure on the yen. The Japanese yen advanced around 0.1% versus the greenback to 148.28, clinging to recent gains after ticking up slightly from as low as 147.155 overnight. While speculation that the Bank of Japan could exit from negative interest rates early next year should help stabilize the yen, the Japanese currency still faces strong headwinds.

Persons: Matt Simpson, CME's, Sterling, Simpson, Tony Sycamore Organizations: U.S, Index, Treasury, Bank of Japan, IG Locations: Yichang, Hubei province, U.S

☆ Xiaomi claims a record $3.11 billion in Singles Day sales
▼ + stars: | 2023-11-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

(Photo by Costfoto/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty ImagesBEIJING — Chinese smartphone and consumer electronics company Xiaomi claimed record sales across platforms during the Singles Day shopping festival. For a second-straight year, the two online shopping giants declined to share total figures for the Singles Day shopping festival. That's the same figure JD shared for Singles Day results in 2021. The company also claimed first place in different categories of Chinese brands' smartphone sales across other online shopping platforms. In 2022, during the Covid-19 pandemic, Alibaba had said its Singles Day sales were "in line" with the prior year, which had recorded the equivalent of $84.54 billion GMV at the time.

Persons: Xiaomi, JD.com, JD, Alibaba, Tmall Organizations: Getty, Nurphoto, Apple, HSBC, Bain and Company Locations: YICHANG, CHINA, Yichang, Hubei province, China, BEIJING, Hong Kong, Alibaba, 2023e, 2024e

☆ Gold prices to breach all-time highs? Some expect bullion to hit $2,500
▼ + stars: | 2023-08-11 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +5 min

Spot gold prices hit a record intraday high of $2,072.5 on Aug. 7, 2020, according to data from Refinitiv. We also see a return of physical gold jewelry demand from China and India as both economies stabilize and retail spending returns. Gold prices tend to have an inverse relationship with interest rates. "We also see a return of physical gold jewelry demand from China and India as both economies stabilize and retail spending returns," Heng said. Chinese retail gold demand has been resilient in 2023 even as consumption of other commodities remained weak, Citi said in a July report.

Persons: Sven Hoppe, Bart Melek, Melek, David Neuhauser, Neuhauser, Randy Smallwood, Heng, Heng Koon, UOB Heng, Citi's, Doshi Organizations: Getty, Refinitiv, CNBC, Securities, U.S . Federal, Livermore Partners, Fed, Wheaton Precious Metals, greenback, Markets, Federal Reserve, Citi, Commodities, Future Publishing Locations: U.S, China, India, Yichang, Hubei province

☆ The scarcity of water is emerging as a global economic threat. With China and India looking the most at risk
▼ + stars: | 2023-06-13 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +6 min

Ghosh warned that water scarcity must not be viewed as a sectoral issue, but one that "transcends the entire economy." Asian economies "must understand that it is a regional common good and it is in their own interest to mitigate the risks that come their way in order to prevent the economic shocks that severe water scarcity will impose," he said. India, now the world's most populous nation, will be the hardest hit from water scarcity. "Water scarcity is not particularly problematic to these industries because a lot of the water can be recycled. The Gezhouba dam water conservancy project of the Yangtze River after heavy rain in Yichang, Hubei Province, China.

Persons: Ritesh Shukla, Arunabha Ghosh, It's, Ghosh, Shanshan Wang, Wang, Wayne Middleton, Arup Organizations: Getty, Council, Energy, CNBC, World Bank, Lowy Institute, Arup, Visual China, Getty Images, Water, Future Publishing Locations: Peth, India, China, Asia, Philippines, Singapore, Kunming, Yunnan Province, Getty Images India, Taiwan, Yichang, Hubei Province

☆ Beijing Urges Rural Officials to Hire Humans—Not Machines
▼ + stars: | 2023-02-14 | by ( Stella Yifan Xie | ) www.wsj.com time to read: 1 min

Workers checked a newly laid water pipe in Yichang City, Hubei Province, last year. An estimated 3 million low-skilled workers remain in the countryside as the number of jobs in cities has dwindled. HONG KONG—China’s top economic agency recently called on local governments to find more work for rural laborers, such as widening roads and digging canals—even if the tasks could more efficiently be done by machines. “If it’s possible to use human labor, do not use machines, and mobilize local residents to do the jobs,” said a directive released by China’s National Development and Reform Commission last month.

☆ Dosarul Wuhan. Focarele de gripă din China și posibila legătură cu pandemia COVID-19
▼ + stars: | 2020-12-01 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +4 min

Creșterea, care a avut loc în săptămâna care a început pe 2 decembrie, a fost de aproximativ 2.059% față de aceeași săptămână a anului precedent, potrivit datelor documentelor. Wuhan a fost al treilea cel mai grav afectat, cu 2.032 de cazuri noi în acea săptămână. „Acei oameni mergeau să se trateze în spitale, crescând șansele de infectare cu COVID acolo”, a spus el. Guvernul chinez a spus că pandemia a pornit din piața de pește Huanan din Wuhan, unde era vândută carne de animale sălbatice exotice. „Această mare creștere înseamnă că trebuie să se fi întâmplat ceva”, a spus el.

Persons: CNN, ro ., Wuhan, Hopkins, El, pandemia, Andrew Mertha, Universitatea Johns Hopkins Organizations: CNN, Siguranța Sănătății, Nature, Universitatea Johns Locations: Wuhan, Hubei, China

☆ Dosarul Wuhan: O scurgere de documente dezvăluie haosul din China în primele etape ale Covid-19 / CNN
▼ + stars: | 2020-12-01 | by ( ) www.zdg.md time to read: +8 min

Wuhan – epicentrul focarului de coronavirus, a fost a treia regiune ce mai afectată de gripă. Documente confidențiale obținute de CNN arată că autoritățile din China au raportat un număr mai mic de cazuri decât cel real. Potrivit CNN, documentele secrete arată și descrie haosul care domnea în Wuhan la începutul pandemiei. Cu toate acestea, CNN dezvăluie acum modul în care documentele oficiale circulate intern arată că aceasta a fost doar o parte din situația reală din China. Însă, până acum, accesul experților internaționali la înregistrările mediale ale spitalelor și la datele brute din Hubei a fost limitat.

Persons: CNN, Xi, OMS Organizations: CNN, Albă, Externe, Națională, Uniunii Europene, Organizației Mondiale a Sănătății Locations: Hubei, China, Wuhan, Beijing, Chinei, Statele Unite, Yichang, SUA

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