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☆ Billionaire Citadel founder Ken Griffin's advice for Donald Trump: Don't cut taxes, let ambitious immigrants into the US, and hire Apollo CEO Marc Rowan
▼ + stars: | 2024-11-21 | by ( Bradley Saacks | Michelle Abrego | ) www.businessinsider.com time to read: +4 min

AdvertisementBillionaire Ken Griffin cautioned the incoming Trump administration from adopting extreme policies. Speaking in New York Thursday, Griffin lauded the work of immigrants and warned against cutting taxes. AdvertisementGriffin's plea to Marc RowanGriffin is not the first Wall Street leader to push for a more moderate immigration and tax policy approach. AdvertisementRoman said that tax cuts and tariffs will increase the government deficit, leaving the Trump administration with less room for error in choosing policies. In a Reuters article two days after the election, an unnamed Wall Street leader hoped Trump's aides would rein in extreme policies that could increase the deficit.

Persons: Ken Griffin, Griffin, Marc Rowan, Donald Trump, I'm, Peng Zhao, Marc Rowan Griffin, Manny Roman, Bloomberg's Erik Schatzker, Trump, Trump's, Rowan Organizations: Trump, Treasury, Billionaire Citadel, Republican Party, Economic, of New, Citadel Securities, Reuters Locations: New York, of New York, American, Illinois, California, Florida

☆ Danish military says it staying close to Chinese ship after data cable breaches
▼ + stars: | 2024-11-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

The Danish military said Wednesday that it was staying close to a Chinese ship currently sitting idle in Danish waters, days after two fiber-optic data telecommunication cables in the Baltic Sea were severed. Chinese bulk carrier Yi Peng 3 was anchored in the Kattegat strait between Denmark and Sweden on Wednesday, with a Danish navy patrol ship at anchor nearby, MarineTraffic vessel tracking data showed. “The Danish Defense can confirm that we are present in the area near the Chinese ship Yi Peng 3,” the military said in a post on social media X, adding it had no further comments. It is quite rare for Denmark’s military to comment publicly on individual vessels travelling in Danish waters. It did not mention the cable breaches or say why it was staying with the ship.

Persons: Yi Peng, “, Carl, Oskar Bohlin, Dmitry Peskov, ” Organizations: Danish Defense, Swedish Civil Defense, Reuters, coastguard Locations: Danish, Baltic, Denmark, Sweden, Russian, Ust, Luga, Lithuania, Finland, Germany, Swedish, Russia

☆ A Chinese ship was near both subsea internet cables that were mysteriously cut, report says
▼ + stars: | 2024-11-20 | by ( Mikhaila Friel | Tom Porter | ) www.businessinsider.com time to read: +3 min

AdvertisementA Chinese ship was seen near severed Baltic Sea internet cables, the FT reported. Sweden is investigating the sighting of a Chinese vessel near where two Baltic Sea internet cables were severed, the Financial Times reported. AdvertisementThe Danish defense ministry said it was "in the area near" the Chinese ship in a statement on X Wednesday, amid unconfirmed reports that Danish officials had boarded the vessel. The International Union of Marine Insurance estimates that repairing damaged cables usually costs between $7 and $12 million. AdvertisementIt comes amid tensions between the West and China over its support of Russia in the war against Ukraine.

Persons: Boris Pistorius, Yi Peng, Erin Murphy, Murphy Organizations: Financial Times, FT, Danish Navy, Strategic, International, Russia, Foreign, International Union of Marine Insurance, Ukraine, Sweden's Ministry, Foreign Affairs, Marine, China's Embassy, Business Locations: Sweden, China, Lithuania, Sweden's Gotland, Russia, Ukraine, Germany, Finland, France, Italy, Poland, Britain, Egypt, Gulf of Finland, West

☆ Accident or sabotage? American and European officials disagree as key undersea cables are cut
▼ + stars: | 2024-11-20 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +3 min

CNN —Investigators are trying to crack the mystery of how two undersea internet cables in the Baltic Sea were cut within hours of each other, with European officials saying they believe the disruption was an act of sabotage and US officials suggesting it was likely an accident. The two cables – the BCS East-West connecting Lithuanian and Sweden and the C-Lion1 linking Finland with Germany – were suddenly disrupted on Sunday and Monday. And the disruption to the cables came just weeks after the US warned that Moscow was likely to target critical undersea infrastructure. Instead, the two officials told CNN they believed it likely caused by an anchor drag from a passing vessel. The Chinese-flagged ship Yi Peng 3 was spotted in the area around the times the two cables were cut.

Persons: Germany –, Boris Pistorius, “, ”, Yi Peng, Lin Jian, China “ Organizations: CNN —, BCS, Germany’s, Europe, CNN, Wednesday, Swedish, Administration, Finnish National Bureau of Investigation, Danish Armed Forces Locations: Baltic, Lithuanian, Sweden, Finland, Germany, Russia, Moscow, particuar, Ust, Luga, Yi, China

☆ Young Chinese are ditching planes to travel long distances by train and bus. Meet the ‘iron butt’ travelers
▼ + stars: | 2024-11-08 | by ( Chris Lau | Joyce Jiang | ) edition.cnn.com time to read: +7 min

A growing group of Chinese travelers are now turning to extreme forms of transportation for their vacations. They call themselves “iron butt” travelers – inspired by the amount of time they spend traveling on uncomfortable seats that make flesh start to feel like metal. Iron butt travel lets me visit more places for less money,” another self-identified “iron butt” traveler, 27-year-old Peng Fei, told CNN. But that doesn’t mean he and his fellow “iron butt” travelers have to compromise the fun. Now, though, iron butt travelers are redefining – or perhaps gentrifying – this form of travel.

Persons: Hong Kong CNN — Lin En, Lin, isn’t, Lin En, Peng Fei, ‘, ”, I’d, “, Lin En's, Lin En, Peng, “ I’ve, They’re Organizations: Hong Kong CNN, CNN, Tibet Autonomous, United Arab Emirates Locations: Hong Kong, Xinjiang, China’s, Astana, Kazakhstan’s, China, Kazakhstan, Laos, Kunming, Huay, Thailand, Myanmar, megacities, Beijing, Shanghai, Lhasa, Tibet, Tibet Autonomous Region, Guangzhou, Central Asia, Europe, Turkey, Armenia, Georgia, Uzbekistan, Tibet Autonomous, Egypt

☆ What the world’s largest tech event told us about the innovations of tomorrow
▼ + stars: | 2024-11-07 | by ( ) edition.cnn.com time to read: +7 min

From AI healthcare solutions to groundbreaking mobility and cybersecurity tech, GITEX GLOBAL 2024 showcased innovations and industry shifts set to shape the future digital landscape. Hassan Alnaqbi, CEO of Khazna Data Centers, joins a panel discussion at GITEX GLOBAL 2024. Xpeng Aeroht's flying car prototype and Zapata's Airscooter on display at GITEX GLOBAL 2024. Confronting global challengesWith global cybercrime damage projected to hit $10.5 trillion annually by 2025, cybersecurity was a hot topic at GITEX GLOBAL 2024. Find out more about GITEX GLOBAL 2024 here.

Persons: GITEX, Hassan Alnaqbi, Denis Ledenkof, Robosculptor, ”, Shameer Khader, Salahaldeen AlMarzooqi, cybersecurity, Cybersecurity, Mohamed Al Kuwaiti, “, ” Todd Conklin, Siyuan Liu, Peng Xiao Organizations: Dubai World Trade, Khazna Data, GITEX, Oracle Health, Precision Medicine, Sanofi, Mobility, Transport Authority, Metro, Department, RTA, UAE Government, UAE, US Department of, Treasury, IoT, Strategy, Nissan Hyper Force Locations: cybersecurity, China

☆ South Korean market "falls off the radar" in terms of attractiveness: investment strategist
▼ + stars: | 2024-11-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouth Korean market "falls off the radar" in terms of attractiveness: investment strategistKen Peng from Citi Global Wealth Investments evaluates the attractiveness of the South Korean market, saying that it "falls off the radar" when compared to Japan and India. He also gives his outlook on the Japanese market following the election shock.

Persons: Ken Peng Organizations: Citi Global Wealth Investments, South Locations: Japan, India

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Amazon, Berkshire Hathaway, Intel, Datadog, Uber & more
▼ + stars: | 2024-11-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Citi reiterates Amazon as buy Citi said the e-commerce giant has "multiple catalysts for growth" following earnings on Thursday. Gordon Haskett upgrades Uber to buy from hold The firm said investors should buy the dip in Uber following earnings on Thursday. Goldman Sachs initiates Penguin Solutions as buy Goldman called Penguin a "high performance hardware solutions for enterprise AI at an attractive valuation." Wells Fargo downgrades Estee Lauder to equal weight from overweight Wells downgraded the stock following a disappointing earnings report on Thursday. KeyBanc upgrades Atlassian to overweight from sector weight KeyBanc upgraded the software company following earnings.

Persons: Goldman Sachs, Gordon Haskett, Goldman, Wells, Estee Lauder, it'll, Atlassian, Kinder Morgan, Morgan Stanley, Arista, Datadog, it's, CFRA, Berkshire Hathaway, Jefferies Organizations: Apple, Apple Intelligence, Citi, Amazon, Penguin Solutions, Penguin, Suncor Energy, " Bank of America, Nvidia, Artificial, TAM, Bank of America, UBS, Intel, Mizuho, IDA, Energy Locations: Asia

☆ Goldman has a new AI play where it sees nearly 40% upside
▼ + stars: | 2024-11-01 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Penguin Solutions could be a breakout player in the expanding artificial intelligence boom, according to Goldman Sachs. The Wall Street investment bank on Friday initiated coverage of the enterprise AI company, which changed its name from SMART Global Holdings last month , with a buy rating and a $21 per share price target. Penguin shares had pulled back more than 20% in 2024 through Thursday, but are about 5.5% higher in early trading Friday. PENG YTD mountain Penguin Solutions shares in 2024. Penguin designs and manufactures enterprise solutions for markets including computing, memory and light-emitting diode ( LED) lighting.

Persons: Goldman Sachs, PENG YTD, PENG, Goldman, Michael Ng, Ng Organizations: Penguin, SMART Global Holdings, Penguin Solutions, Penguin Computing

☆ A fast-changing Chinese coffee market awaits Starbucks CEO Brian Niccol
▼ + stars: | 2024-11-01 | by ( Eunice Yoon | ) www.cnbc.com time to read: +4 min

In this article SBUX Follow your favorite stocks CREATE FREE ACCOUNTPeople seen around the Starbucks coffee store in Shenzhen, China. Costfoto | Nurphoto | Getty ImagesThe formerly Nasdaq-listed Luckin Coffee ran into accounting issues and went through a de-listing. Starbucks has an express version of its coffee stores in China called Starbucks Now, where most patrons order drinks on the app for pick up. Competition from everywhereOn top of the Chinese coffee rivals, Starbucks is competing with a host of other local chains on tea. With more and more Chinese wanting a daily java fix, grab-and-go coffee is becoming widely available at tea chains and convenient marts.

Persons: Jakub Porzycki, Brian Niccol, Niccol, CNBC's Andrew Ross Sorkin, Price, Zhang Peng, Auntea Jenny, Mixue, Jenny, Tim Hortons Organizations: Nurphoto, Starbucks, Nasdaq, Shanghai Starbucks, Lightrocket, Getty, KFC Locations: Shenzhen, China, Shanghai, Cotti, Beijing, Luckin, Costa Coffee

☆ A Train Ride Deep Into a Forest, and Into the Past
▼ + stars: | 2024-10-29 | by ( Lam Yik Fei | ) www.nytimes.com time to read: 1 min

All logging ended there in 1992; Alishan is now a national forest and one of the most scenic spots in Taiwan. For those who grew up in the area and recall the train, riding it up the mountains and into the trees is part of what makes the place special. “This railway is one of the reasons that brings me home,” said Peng Hsiao-chi, 68, a factory worker who spent her youth in the countryside near Chiayi. She and her husband awoke at 4 a.m. and drove two hours to be among the first to ride the restored railway. They were lucky, clinching last-minute tickets released on the departure day.

Persons: ”, Peng Hsiao Locations: Taiwan, Chiayi

☆ Market-making giant Citadel Securities is rebuilding the tech that powers its trades as it eyes growth
▼ + stars: | 2024-10-22 | by ( Bianca Chan | ) www.businessinsider.com time to read: +7 min

Ken Griffin's market maker, Citadel Securities, is revamping its core trading infrastructure. AdvertisementIn 2023, Citadel Securities COO of technology, Jeff Maurone, was meeting with senior leaders to discuss technology priorities for the year. I almost look at it as the stretching of business," Woods told Business Insider. Building Citadel Securities' trading infrastructure of the futureIn the last few years, Citadel Securities pushed into credit trading, expanded its rates franchise, and introduced an institutional options offering. Maurone's team supports Citadel Securities' technology organization, and he manages a team of 15 people.

Persons: Ken Griffin's, Josh Woods, Jeff Maurone, —, Maurone, Woods, Matt Culek, Peng Zhao, Jim Esposito Organizations: Citadel Securities, Service, Securities, McKinsey, Deloitte, COOs, Citadel Securities Each Locations: Asia Pacific, EMEA, COOs —, New York, Jeff's

The UAE has shown it can “guarantee the safety and the security” of chips “if and when they are being deployed and used here,” Peng Xiao, CEO of UAE AI firm G42, told CNBC at a conference in Dubai on Tuesday. “I cannot read the mind of the U.S. policymakers, but in many ways, I understand their position,” Xiao told CNBC. “At the same time from our side, we've shown from the UAE side how transparent we are and how we can guarantee the safety and the security of this technology,” he added. The United States has previously warned over G42's ties to China and its work with companies in Beijing, which Washington considers a possible security threat. In February, the group sold its stake in Chinese companies including Bytedance in a bid to reassure American partners.

Persons: ” Peng Xiao, Joe Biden, “, ” Xiao, Kiril Evtimov, Evtimov Organizations: United, United Arab Emirates ’, CNBC, Nvidia, AMD, Bloomberg, “, Washington, Bytedance Locations: United Arab, U.S, Washington, UAE, Dubai, China, United States, Beijing

☆ UAE has shown it can 'guarantee the safety and the security' of chips, G42 CEO says
▼ + stars: | 2024-10-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUAE has shown it can 'guarantee the safety and the security' of chips, G42 CEO saysPeng Xiao, G42 CEO, says the UAE has shown it can “guarantee the safety and the security” of chips “if and when they are being deployed and used here in the UAE.”

Persons: Peng Xiao, ” Organizations: UAE Locations: UAE

☆ China's Golden Week holiday signals persistent consumer caution
▼ + stars: | 2024-10-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Passengers line up to check in at Chengdu Tianfu International Airport on October 6, 2024 as China's week-long National Day holiday draws to a close. China News Service | China News Service | Getty ImagesBEIJING — China's Golden Week holiday affirmed a trend in more cautious spending, while consumers put greater emphasis on experiences. The Golden Week holiday in China commemorates the founding of the People's Republic of China on Oct. 1. "The Golden Week consumption could still suggest a modest recovery versus August, in our view, due to trade-in subsidies (for appliances and autos) and consumption vouchers issued by the local governments," Peng said. During Golden Week, mainland China recorded 765 million domestic trips, up from both the prior year and before the pandemic, according to the Ministry of Culture and Tourism.

Persons: Goldman Sachs, Goldman, Trip.com, Kenneth Chow, Oliver Wyman, Chow, It's, Christine Peng, Peng Organizations: Chengdu Tianfu International, China News Service, Getty, BEIJING, China Film Administration, Consumers, CNBC, UBS, Ministry of Culture, Tourism Locations: Chengdu, China, People's Republic of China, Greater China, Japan, Thailand

The Chinese central bank's largest stimulus measures since Covid should provide the world's second-largest economy with a much-needed boost, which should help our portfolio companies doing business there. The Club has a broad range of companies with significant sales exposure to China, and some with none. Here's a look at the percentages in our 32 stock portfolio, as well as recent earnings call commentary, about the business climate and the potential in China. On the industrial side, DuPont has the most China exposure because of its electronics and water businesses. Eaton and Dover don't have nearly as much China exposure.

Persons: Donald Trump, Kamala Harris, Biden, Colette Kress, Tim Cook, Brian Niccol, Gamble, Andre Schulten, Peter Arduini, Lori Koch, Stanley Black, —, Jeff Marks, Jim Cramer's, Jim Cramer, Jim, Peng Organizations: People's Bank of China, Wall, Commodities, Republican, House, Democratic, Trump, Broadcom, Nvidia, AMD, Nvidia's, Apple, Starbucks, Investors, Huawei, Jefferies, Consumer, Procter, Barclays, GE Healthcare, GE, DuPont, Banking, Coterra Energy, Investing, Jim Cramer's Charitable, CNBC Locations: Asia, China, America, U.S, Eaton, Dover, People's Republic of China

☆ Simone Biles leads star-studded cast of US gymnasts headlining ‘victory lap’ Gold Over America Tour
▼ + stars: | 2024-09-21 | by ( Coy Wire | ) edition.cnn.com time to read: +3 min

Biles said in a press release that she is “so excited” and described the tour as “a victory lap around the US.”“It’s more of a celebration tour,” Biles told CNN’s Coy Wire ahead of the tour’s upcoming fourth show in San Jose on Saturday. Biles and co. visited Los Angeles on Friday, with the next leg of the tour scheduled to take place in San Jose on Saturday. This is the second Gold Over America Tour that Biles has led. The tour has been referred to by its acronym “GOAT,” more than likely a nod to Biles’ legendary standing in professional gymnastics. Part of warmup for a recent involved a spot of “goat yoga,” which saw Biles and Chiles balance a live goat on their backs.

Persons: Simone Biles, Biles, ” Biles, CNN’s Coy Wire, “, Jordan Chiles, Naomi Baker, Diana Taurasi, Brittney, Jordan Chiles –, Paris Olympics – Jade Carey, Hezly Rivera, Joscelyn Roberson, ” Chiles, CNN’s, ” Paul Juda, Brody Malone, Frederick Richard, Richard, Peter Cziborra, Reuters Canada’s Peng, Peng Lee, Ellie Black, Mélanie, Jesus dos Santos, Casimir Schmidt, Chiles Organizations: CNN, America Tour, America, Phoenix Mercury, Saturday, Paris Olympics, Reuters Locations: United States, San Jose, Paris, Oceanside , California, Phoenix, Los Angeles, Denver, Chicago, Houston, Atlanta, Orlando, Detroit, Netherlands

The cultural shift has spawned a booming business in divorce photography not only for Tan, but also for other photographers hoping to profit. Photos shared on Chinese social media Xiaohongshu show some couples signing their divorce papers, while others pose with their divorce certificate. Happy divorce,” one user wrote alongside a photo of her marriage and divorce certificates side by side. “It is not shameful to be brave enough to divorce,” Tan said. Faces on old wedding photos are spray-painted, to ensure privacy is respected, before being tossed into a crusher along with other tokens of memories.

Persons: Tan, ” Tan, “, Peng Xiujian, ‘, Peng, it’s, Liu Wei, Liu, Justin Robertson, ” Liu, he’s, Gary Ng, “ I’ll, ” Organizations: Hong Kong CNN, China’s National Bureau of Statistics, Companies, Victoria University, CNN Locations: Beijing, Hong Kong, Henan, China, Australia

The area, nearly all white 20 years ago, has since begun to teem with South Asian life. That energy is mirrored throughout the South Asian American electorate. Michigan is one of only five states with a South Asian member of Congress, Democratic Rep. Shri Thanedar, and Sawni says she’s ready to see a South Asian person in the White House, too. “South Asian voters and Indian Americans in particular are among the fastest-growing segments of the electorate,” he said. On a local scale, experts say more South Asian Americans are running for office than ever before.

Persons: Kannan Udayarajan, ”, Shekar Narasimhan, “, Kamala Harris ’, Chintan Patel, Harris, Karthick Ramakrishnan, It’s, ” Udayarajan, Udayarajan, “ Kamala Harris’s, it's, Walz, Andrew Peng, Harris ’, Shri Thanedar, Sawni, Joe Biden’s, Biden, Trump, Tanjina, ” Islam, ’, President Trump, Steven Cheung, Ramakrishnan, “ They’re, ” Narasimhan, J.J, Abbott, “ Kamala, Yagnesh Choksi, Kamala, don’t, they’ve Organizations: American, South, Indian, South Asian, Community, AAPI, “, Democrats, Harris, Democratic Party, Pew Research Center, NBC News, Mexicans, Michigan, Democratic, Trump Locations: Forsyth County , Georgia, Georgia, Michigan, Pennsylvania, U.S, Indian, South, Forsyth County, Forsyth, Asian, Gaza, Tanjina Islam, “

☆ How plaid became popular for school uniforms
▼ + stars: | 2024-09-05 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +9 min

CNN —As students return to school, one patterned textile now synonymous with uniforms will make its seasonal reappearance on pleated skirts, jumpers and ties: plaid. It’s a family of textiles with broad scholarly appeal, with both religious and secular schools worldwide incorporating plaid into uniforms, from Mexico to Japan to Australia. Centuries of romanticizing Highlander clanship and identity has likely influenced our contemporary understanding of the textile, Maxwell noted. But the textile didn’t become a fixture of school uniforms until the 1960s, according to historian and educator Sally Dwyer-McNulty, who authored “Common Threads: A Cultural History of Clothing in American Catholicism” in 2014. (Dwyer-McNulty herself attended two different Catholic schools in Philadelphia, wearing plaid uniforms through high school).

Persons: “, Plaid, Ralph Lauren, Brooks, Cher Horowitz, ”, Mhairi Maxwell, you’re, Gogo Yubari, Maxwell, Royal Stewart, Stuart, Vivienne Westwood’s, Naomi Campbell, Zhang Peng, Dundee, ” Maxwell, Jane Barlow, Charles Edward Stuart —, Bonnie Prince Charlie —, Queen Victoria, Thomas Trutschel, Sally Dwyer, McNulty, Bendinger, Eisenberg, Flynn, t.A.T.u, Bruno Vincent, Dwyer, Olivia Rodrigo, Jenna Ortega, Thom Browne, Lydia Deetz, Bill Clinton, It’s, Alicia Silverstone, Kim Kardashian, Christian Siriano, “ It’s Organizations: CNN, “ Derry Girls, Brooks Brothers, “, Paramount, Everett, Miramax, Scottish, University of Alabama, Scottish Tartans Authority, Jacobite, Scottish Highland, Getty, Plaid, Gotham, Silverstone, preppy Ivy League Locations: Scotland, madras, India, It’s, Mexico, Japan, Australia, American, Dundee, Nara, Glen Affric, ”, Queen, Puebla, O’Hara, Philadelphia

☆ China's Xi pledges over $50 billion in financial aid to Africa to deepen ties
▼ + stars: | 2024-09-05 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

China's President Xi Jinping (C) and his wife Peng Liyuan pose for a group photograph with leaders from African nations ahead of a dinner reception during the Forum on China-Africa Cooperation (FOCAC) at the Great Hall of the People in Beijing on September 4, 2024. Chinese President Xi Jinping said Thursday that China will provide 360 billion yuan (more than $50 billion) in financial support to Africa over the next three years. Xi spoke on the second day of the ninth Forum on China-Africa Cooperation Summit, which is expected to deliver new policies and cooperation agreements that will set the stage for China-Africa relations in the next three years. "The China-Africa relationship is now at its best in history," Xi said, according to an official translation of his Mandarin-language remarks. "China is ready to deepen cooperation with Africa in industry, agriculture, infrastructure, trade and investment," Xi said, urging both sides to jointly advance modernization that is "open and win-win."

Persons: Xi Jinping, Peng Liyuan, Xi, Cyril Ramaphosa, William Ruto — Organizations: Africa Cooperation, of, People, Africa Cooperation Summit, West Locations: African, China, Beijing, Africa, South

☆ China economy: Young people in China aren’t spending on romance. That’s a problem
▼ + stars: | 2024-08-13 | by ( Chris Lau | Hassan Tayir | ) edition.cnn.com time to read: +7 min

“The Qixi Festival is not as robust as previous years. Couples attend a kissing contest during the traditional Qixi festival in Shenyang, northeast China's Liaoning province, on August 13, 2013. “The only part of the world where consumer confidence remains very low is China,” L’Oreal CEO Nicolas Hieronimus told analysts on an earnings call late last month. Lower-than-expected growth in the global beauty sector this year is largely a consequence of low consumer confidence in China, he added. People take photos at a bus stop decorated with flowers during Qixi Festival, or Chinese Valentine's Day, on August 22, 2023 in Chongqing, China.

Persons: China’s, Louis Vuitton, ”, forlornly, Huang Jinkun, Alfred Wu, Lee, “, Yeap Jun Rong, Xi Jinping, Peng Liyuan, Stringer, De Beers, That’s, Niulang, Nicolas Hieronimus, Joanne Wilson, didn’t, ” Mercedes, Ola Kaellenius Organizations: Hong Kong CNN, Weibo, CNN, Qixi, Lee Kuan Yew, of Public, National University of Singapore, Volkswagen, Ministry of Civil Affairs, Getty, Diamond, State Administration of Foreign Exchange, Global, WPP, China News Service, Mercedes, ” Mercedes Benz Locations: China, Hong Kong, Shenyang, Liaoning province, Beijing, China's Liaoning province, AFP, Chongqing

☆ AI's ability to solve industry problems makes it recession-proof, says analyst
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI's ability to solve industry problems makes it recession-proof, says analystNicole Peng, senior vice president of mobility at Canalys, discusses her outlook for the tech sector in the face of a global market sell-off.

Persons: Nicole Peng

☆ ‘I’m really desperate now’: Temu sellers revolt against fines and withheld pay
▼ + stars: | 2024-08-01 | by ( Juliana Liu | ) edition.cnn.com time to read: +6 min

Hundreds of them staged a demonstration this week at an office affiliated with Temu in the southern Chinese city of Guangzhou. They were protesting what they called “unjust” fines levied by the company or withheld payment on goods already sold, among other complaints. Temu operates as an online store, carrying cut-price merchandise from self-employed sellers. Four sellers interviewed by CNN said the fines ranged from one to five times the wholesale price of the product. CNN has seen screenshots of the seller’s Temu account showing a total of just under two million yuan was ineligible for withdrawal.

Persons: Temu, “ I’m, ”, Shein, ” Temu, Abe Yousef, Goldman Sachs, Ivy Yang, “, Peng Organizations: Hong Kong CNN —, Temu, CNN, Super, Shein, Consumers Locations: China, Hong Kong, Guangzhou, Chinese, Thailand, Temu, “, United States, Latin America, East, Southeast Asia

☆ Marathon, not a sprint: Apple's AI push faces big challenges in China
▼ + stars: | 2024-06-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTThe Apple Siri AI icon is being displayed on a smartphone, with Apple Intelligence in the background. Apple Intelligence is the Cupertino giant's play that aims to bring AI across its devices. Apple's China AI challengesNavigating these rules will be tricky for Apple. "Localising the Apple Intelligence experience will be a major challenge for Apple," Wood told CNBC. CCS Insights' Wood said Apple's focus on privacy could help introduce AI features to the market.

Persons: Siri, Jonathan Raa, Apple, Bryan Ma, Nicole Peng, Ben Wood, Wood, Neil Shah Organizations: Apple Intelligence, Nurphoto, Getty, Huawei, CNBC, Apple, IDC, Baidu, Insight, Counterpoint Research Locations: China, Beijing, Cupertino

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