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Tiger Woods and Rory McIlroy's new golf league, TGL, is getting some fresh star power representing the Big Apple. Cohen Private Ventures, the family office of Steve Cohen, announced on Thursday that Eli Manning, Derek Jeter, CC Sabathia, Michael Strahan, John McEnroe and Jimmy Fallon are joining the New York Golf Club's investor group as limited partners. Cohen, who also owns Major League Baseball's New York Mets, acquired the rights to the New York Golf team last September. TGL is the new primetime, high-tech golf league launched by Woods, McIlroy and Golf Channel executive Mike McCarley. Former New York Yankees star Jeter told CNBC he was drawn to the investment opportunity because it combines his passion for golf and his love of New York.
Persons: Tiger Woods, Rory McIlroy's, Steve Cohen, Eli Manning, Derek Jeter, Michael Strahan, John McEnroe, Jimmy Fallon, Cohen, Rickie Fowler, Xander Schauffele, Matt Fitzpatrick, Cameron Young, Manning, TGL, Woods, McIlroy, Mike McCarley, Stephen Curry, Shaquille O'Neal, Kevin Durant, Shohei Ohtani, Mike Trout, Josh Allen, Serena Williams, Lewis Hamilton, Jeter, NYGC Organizations: Big Apple, Cohen Private Ventures, New, FedEx, Major League Baseball's New York Mets, New York Golf, CNBC, Former New York Giants, Golf Channel, PGA Tour, ESPN, National Basketball Association, MLB, National Football League, Former New York Yankees Locations: York, Palm Beach , Florida, TGL, New York, New
In my inaugural CNBC Sport newsletter , I said the major American sports leagues have their media rights deals locked up for years to come. The NHL's Canadian media rights deal will end after next season. The company has said it intends to bid again for the Canadian media rights. In my inaugural CNBC Sport newsletter, I said the major American sports leagues have their media rights deals locked up for years to come. The NHL's Canadian media rights deal will end after next season.
Persons: Alex Sherman, Rogers, Gary Bettman, Amazon's, James Gay, Rees, Paul Martin –, Wayne Gretzky, Amanda Serrano, Nakisa Bidarian, Jake Paul, Mike Tyson, Katie Taylor, Taylor, Serrano, Tyson, Paul –, Amanda, Katie, Mike, Jake, Bidarian, Amanda's, hasn't, I'm, CNBC's Jake Piazza, Lillian Rizzo, Tiger Woods, Rory Mclroy, Mike McCarley, Steve Cohen's, Eli Manning, Derek Jeter, Michael Strahan, John McEnroe, Jimmy Fallon, Rickie Fowler, Xander Schauffele, Matt Fitzpatrick, Cameron Young, CNBC's Jess Golden, Dan Gilbert, Turner, John Tesh, LeBron James, Maverick Carter, Fulwell, Ben Winston, They'll, Peacock, CNBC's Dominic Chu, Mollie Marcoux Samaan, Marvel Entertainment Rob Steffens, Wanda Diamond, LOVB, LOVB Pro's, Michele Kang, Kang, Rob Manfred, That's, Manfred, Tomas Hertl, Thatcher Demko, Derek Cain Organizations: CNBC, CNBC Sport, Rogers Communications, NHL, National Basketball Association, National Football League, Rogers, Amazon Prime, Netflix, NFL, Amazon, Buffalo Bills, Kansas City Chiefs, CBS, Patriots, Sports Business, Golf Channel, Mike McCarley . New York Mets, Private Ventures, New, New York, WNBA, NBA's Cleveland Cavaliers, NBA, Warner Bros, Discovery, Turner Sports, U.S, ESPN, ABC, NBC, NBC Sports, SpringHill, Comcast, USA, English Premier League, NASCAR, WWE, Olympics, Marvel Entertainment, American Hockey League, Wanda Diamond League, Atwater Capital, U.S . Soccer, MLB, The Athletic, Professional Fighters League, Dubai Department of Economy, Tourism, Dubai Sports Council, PFL, San Jose Sharks, Vancouver Canucks, Rogers Arena, Sports, Reuters Locations: , Canada, Canadian, U.S, Amazon, Europe, Salt Lake City , Utah, Mike McCarley ., Cleveland, Northeast Ohio, Atlanta , Austin, Houston, Madison, Omaha, Salt, Dubai
CNN —After a year fraught with personal and professional turbulence, Rory McIlroy ended 2024 in his much-frequented happy place: the winner’s circle. I’ve been through a lot this year professionally, personally,” McIlroy told Sky Sports. “Their support means the world to me,” McIlroy told reporters. “I think everyone knows what Seve means to European golf and to Ryder Cup players,” McIlroy said. We had a changing room with Seve’s shirt from ‘95, the last Ryder Cup he played,” he continued, wiping away tears.
Persons: Rory McIlroy, I’ve, ” McIlroy, Bryson DeChambeau, McIlroy, Erica Stoll, , I’m, “ It’s, everything’s, Richard Heathcote, Rasmus Højgaard, Seve Ballesteros, Colin Montgomerie’s, Seve, , Monty Organizations: CNN, Sunday, Dubai, Northern, Golf Estates, Sky Sports, Pinehurst, Getty, Merit, Ryder Cup, Ryder Locations: Dubai, Spanish
On the day after the election, Nov. 6, X experienced its largest user exodus since Elon Musk bought the platform in 2022. NBC News spoke to six people who have joined or committed to using Threads and Bluesky in place of X after the election because of Musk. In the past five days, Wurtz said people she used to follow on X have started to trickle over to Threads. “I have a private personal account for friends and family and a public account for Taylor Swift, so nobody drowns in my Taylor Swift content,” Polo said. Currently, X users can go to the site’s settings and opt out.
Persons: Elon Musk, Don Lemon, Donald Trump, Musk, Kara Wurtz, Louis, ” Wurtz, , I’m, Wurtz, Wurtz isn’t, Adam Mosseri, Bluesky, , Mosseri, David Carr, X, Polo, Swifties, Taylor Swift, ” Polo, Elon, Rory Mir, ” Mir, José Vilson, “ I’m, ” Laura Sell, Sell, “ It’s, Micah Lee, Dr, Jorge Caballero, ” Caballero, it’s Organizations: Elon, Guardian, NBC, Trump, Twitter, NBC News, Bluesky, Electronic Frontier Foundation, Duke University Press Locations: Similarweb, United States, Canada, Bluesky
Donald Trump's US election win is fueling hope for an end to the rift between the PGA Tour and LIV Golf. The launch of the Saudi-backed LIV tour has led to significant disruption in the sport. Golf star Rory McIlroy said he thinks Trump and Musk could help broker a peace deal. AdvertisementDonald Trump's return to the White House is fueling hope of an end to the divide between the PGA Tour and the Saudi-backed LIV Golf League. Feuds between the PGA Tour and LIV Golf, which is funded by Saudi Arabia's Public Investment Fund, had broken out over the huge amounts of money being thrown at LIV recruits and questions over their eligibility for major tournaments and international competitions.
Persons: Donald Trump's, LIV Golf, LIV, Rory McIlroy, Trump, , Elon Musk, McIlroy, He's, it's, he's, Bill Belichick's Let's Organizations: PGA, Service, PGA Tour, LIV Golf League, Trump, Elon, Sky Sports News, Saudi Arabia's Public Investment Fund Locations: Saudi, Saudi Arabia, United States
A huge amount of opportunity in markets, Wren Sterling CIO says
  + stars: | 2024-11-08 | 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 EmailA huge amount of opportunity in markets, Wren Sterling CIO saysRory McPherson, chief investment officer at Wren Sterling, discusses the outlook for global stocks and the performance of the U.K.’s FTSE 100 index.
Persons: Wren Sterling, Rory McPherson Organizations:
CNN —Rory McIlroy thinks that Donald Trump’s return to presidency could help unify the fractured landscape of men’s professional golf by brokering a deal between the PGA Tour and the breakaway Saudi-backed LIV Golf. When asked on Wednesday if Trump could deliver on his own assertion that he could fix the LIV-PGA Tour deal in 15 minutes, McIlroy said: “He might be able to. The US-based circuit and the Saudi Public Investment Fund (PIF), which is behind LIV Golf, remain locked in negotiations, with the initial deadline for the partnership of December 31 last year extended into 2024. When asked about the PGA Tour and LIV on the podcast, recorded Sunday ahead of the election, he added: “I’m really going to work on other things, to be honest with you. “Great news from LIV golf.
Persons: Rory McIlroy, Donald Trump’s, LIV Golf, Trump, McIlroy, He’s, Elon Musk, it’s, he’s, LIV, , ” Trump, Bill Belichick, Jim Gray Organizations: CNN, PGA Tour, HSBC Abu Dhabi Championship, Saudi Public Investment Fund, Trump, PGA, LIV Locations: Saudi, Saudi Arabia, United States
Silicon anodes vs. solid-state batteriesAnalysts say silicon anodes theoretically offer 10 times the energy density as graphite, which are commonly used in battery anodes today. Silicon anodes, for example, are known to swell significantly during charging, which reduces the battery's longevity. Especially in the West, advances in the area of silicon anodes [are] seen as strategic opportunity to catch up with China. Nonetheless, analysts remain skeptical about when solid-state batteries will actually make it to market. "However, there are significant technical challenges going to 100% silicon anode such as silicon expansion affecting the longevity of the batteries and currently there are several routes to produce silicon anodes," he added.
Persons: IDTechEx, carmakers, Venkat Srinivasan, Srinivasan, hasn't, Rory McNulty, McNulty, Georgi Georgiev, Georgiev, Taiwan's, Sila Nanotechnologies Organizations: Parc des, Chesnot, Getty, Mercedes, Porsche, GM, Center for Energy Storage Science, government's, government's Argonne National Laboratory, CNBC, EV, Benchmark Mineral Intelligence, Bloomberg, Fastmarkets, Toyota, Nissan, China's SAIC Motor Corp, ProLogium, Paris Locations: Parc, Paris, France, government's Argonne, Chicago, Siheung, South Korea, West, China, U.S
At 15 years old, rule-abiding Rory broke the law when she drove alone. On the episode, Rory's car gets hit by a deer while she's at a stop sign. Netflix/The CWOn season one, episode four, "The Deer Hunters," Rory (Alexis Bledel) drove herself to school after oversleeping on the morning of a test, and on her way to Chilton, a deer runs into her car. In the state of Connecticut, where the fictional town of Stars Hollow is located, you must be 16 years old to get your learner's permit or driver's license. Even if she was 16, she would still need another licensed driver in the car, a law that rule-abiding Rory would be likely to follow even if she was running late for a test.
Persons: Rory, Alexis Bledel, oversleeping, Organizations: Netflix, CW Locations: Chilton, Connecticut, Stars
A trove of 2,584 silver coins from the time of the Norman Conquest has been bought in the United Kingdom for more than $5 million — making it the country's highest-value discovery ever made by treasure hunters. The coins were purchased by the U.K.’s South West Heritage Trust, an independent organization that supports historical sites, with funding from two charities, the National Lottery and the Art Fund. The South West Heritage Trust's curator of archaeology, Amal Khreisheh, holds one of the uncovered Norman pennies. The coins were likely to have been buried for safekeeping, a common method in the 11th century. That they were never dug up by their owner suggests to historians that they may have been lost or abandoned because of the Battle of Hastings and the Norman Conquest.
Persons: Norman, Adam Staples, Lisa Grace, Staples, , Sam Astill, Aleks McClain, Amal Khreisheh, Rory Naismith, Naismith, William the Conquerer Organizations: U.K, West Heritage Trust, National Lottery, Art Fund, Museum of Somerset, British, South West Heritage Trust, South West Heritage, NBC, University of Cambridge Locations: United Kingdom, Chew, Bristol, England, Hastings, Normandy, France
"Gilmore Girls" ran for seven seasons between 2000 and 2007, and it still has a dedicated fan base. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. AdvertisementThe WB's seven-season multigenerational drama "Gilmore Girls" followed the lives of Lorelai and her daughter Rory as they figured out life in their small New England town.
Persons: Gilmore, Lauren Graham, , Lorelai, Rory Organizations: Service Locations: Victoria, New England
CNN —TGL, the high-tech indoor golf league spearheaded by Tiger Woods and Rory McIlroy, is set to tee off at last on January 7, 2025, after a schedule was released Monday. The January 7 curtain-raiser sees New York Golf Club, headlined by two-time major champion Xander Schauffele, take on The Bay Golf Club. 3 McIlroy will first be in action on matchday four when his Boston Common Golf side competes against Woods’ team. Norway’s Viktor Hovland and American LIV Golf star Bryson DeChambeau are the other two members of the top-10 not present in the league. Spain’s Jon Rahm had been slated to compete but withdrew last November, and the following month joined LIV Golf – none of whom’s players feature in TGL.
Persons: CNN — TGL, Tiger Woods, Rory McIlroy, , Woods, McIlroy –, McIlroy, Mike Ehrmann, Serena, Venus Williams, Giannis Antetokounmpo, Steph Curry, Xander Schauffele, Rickie Fowler, Cameron Young, Matt Fitzpatrick, Sweden’s Ludvig Åberg, Min Woo Lee, Ireland’s Shane Lowry, Wyndham Clark, Justin Thomas, Patrick Cantlay, Billy Horschel, Lucas Glover, , ” Woods, Paul Ellis, TMRW, Scottie Scheffler, Norway’s Viktor Hovland, LIV, Bryson DeChambeau, Spain’s Jon Rahm, Hideki Matsuyama, Keegan Bradley, Adam Scott, Max Homa, Tom Kim, Kevin Kisner, Los Angeles Golf Club Collin Morikawa, Sahith Theegala, Justin Rose, Tommy Fleetwood, Ludvig Åberg, Shane Lowry Organizations: CNN, PGA, ESPN, TMRW Sports –, Getty, NBA, Liverpool, Fenway Sports Group, Golf Club, Golf, Schauffele, Atlanta, Boston, Tiger, Los Angeles Golf Club, New York Golf, New York GC, Los Angeles GC, Jupiter, Los Angeles, GC, New York, Boston Common Locations: Florida, Palm Beach, New, Scotland, AFP, TGL, USA, Northern Ireland, Japan, Australia, South Korea, England, Sweden, Ireland
As a condition of that deal, EverPass included the right to build its own commercial streaming connection for "Sunday Ticket," bypassing third-party licensing. 1) Some commercial establishments are switching to EverPass's internet product. 2) Some commercial establishments are cutting the cord on pay-TV in general. 3) Certain commercial establishments are using YouTube's "Sunday Ticket" and paying residential prices (about $500 per year) instead of the higher business rates. 3) Certain commercial establishments are using YouTube's "Sunday Ticket" and paying residential prices (about $500 per year) instead of the higher business rates.
Persons: Alex Sherman, DirecTV's, What's, EverPass, Lillian Rizzo, , Everpass, It's, Craig Kilborn, Val Ackerman, Ackerman, that's, We're, Alex, you've, they're, Jeff Shell, Tom Brady, Tom Wagner, CNBC's Michael Ozanian, Jessica Golden, Brady, He'll, Wagner, Warner, Jake Piazza, CNBC's Rizzo, Nielsen, That's, — Ian Charles, Arctos, Charles, NBC's Peacock, Christian Miller, Miller, Adam Silver doesn't, Jim Dolan, Abu, Greg Norman, Norman, Rory McIlroy, Tiger Woods, Chiney Ogwumike Organizations: CNBC, NFL, Google, YouTube, DirecTV, EverPass Media, RedBird Capital Partners, Amazon Prime, ESPN, Dish Network, Big East Conference, WNBA, Big, CNBC Sport, Skydance, Paramount Global, Shell, Paramount, Las Vegas Raiders, Knighthead, Raiders, Fox Sports, NBA, Warner Bros, Discovery, TNT, MLB, Los Angeles Dodgers, New York Mets, Mets, Revenue, League, Golden State Warriors, Boston Celtics, Philadelphia Phillies, Wall Street, Comcast, Puma, NBC News, U.S, SEC, New York Times, Sphere Entertainment, Saudi Arabia's Public Investment Fund, Sports Business, PGA, Chiney, Continent Foundation, Philadelphia Eagles, Kansas City Chiefs, Visual China, Getty, Big East Locations: Apple, New York, American, Boston , Philadelphia, Northern California, U.S, Abu Dhabi, Vegas, Queens, Africa, Newport Beach , California
China's export growth slowed in September, raising concerns about future economic stability. China may delay further economic stimulus ahead of the US election, anticipating potential tariffs. The market had expected China's exports to grow 6% on-year in September, according to a Reuters' poll of economists. AdvertisementThe timing of the decline in China's exports also came at an untimely moment — weeks before the US presidential election. Beijing has rejected this view, saying the West's accusations are protectionist and aimed at containing China's economic growth.
Persons: , hasn't, Lu Daliang, Donald Trump, Rory Green, GlobalData.TS Lombard, Green Organizations: Service, Reuters, EU, Administration of Customs, Nomura, BofA Securities, Republican, Authorities, Trump, US Locations: China, Japan, South Korea, Beijing
Rewatching my fall fave, "Gilmore Girls," as a parent feels less nostalgic and more painful. AdvertisementI found "Gilmore Girls" my first year of high school, and I'd never felt more seen. "Gilmore Girls" felt fun and fresh. When "Gilmore Girls" initially ran, I knew nothing about relationships, especially healthy ones. My daughters and I won't be cozying up on the couch to rewatch "Gilmore Girls" every fall, and that's OK. Maybe we'll find a new comfort show to enjoy together.
Persons: Gilmore, shouldn't, , I'd, Rory, Lorelai's, Lorelai, it's, Dean, Rory's, Warner, Christopher Organizations: Service, WB, Yale, Warner Bros, Netflix
Ethel Kennedy, who lost her husband, Robert F. Kennedy, and brother-in-law, President John F. Kennedy, to assassins' bullets, and who channeled her grief into raising her 11 children and lifetime of public service, died Thursday. At the time, he was dating her older sister, Patricia, according to an official biography at the John F. Kennedy Presidential Library and Museum. Meanwhile, Robert F. Kennedy's public profile was on the rise as chief counsel to the Senate Select Committee. Following JFK's assassination, Robert F. Kennedy ran successfully for the United States Senate from New York. But two of Kennedy's other sons, Robert F. Kennedy Jr. and Douglas Kennedy, said Sirhan had done his time and supported his parole bid.
Persons: Ethel Kennedy, Robert F, Kennedy, John F, Joe Kennedy III, Ethel Skakel, Sirhan Sirhan, gunning, Kennedy’s, George Skakel, Ann Brannack Skakel, Patricia, Bobby, Ethel, Kathleen, Evan Thomas, Robert Kennedy, Rory, Barack Obama, Andy Williams, Michael, David, Kennedy's, Michael Skakel, Martha Moxley, Saoirse Kennedy Hill, ” Kennedy, , Joseph P, Kennedy II, Courtney Kennedy, Kerry Kennedy, Christopher G, Maxwell T, Rory Kennedy, Kennedy Jr, Douglas Kennedy, Sirhan, Gavin Newsom Organizations: Kennedy Presidential Library and Museum, United States, White, RFK, Kennedy Center for Justice, Human Rights, California Gov Locations: Chicago, Quebec, Virginia, JFK, JFK's, New York, Palm Beach , Florida, California
CNN —Ethel Kennedy, the widow of former US Attorney General Robert F. Kennedy and a longtime human rights activist, died Thursday, her family said. Former Massachusetts Rep. Joe Kennedy III announced the news of his grandmother’s passing on X. Ethel Kennedy was hospitalized after suffering a stroke last week. Photographs of the shooting aftermath show Ethel Kennedy, leaning over her husband with her hands over his chest as he bled onto the floor. In the decades following her husband’s death, Ethel Kennedy emerged as an environmental and human rights activist in her own right, founding the nonprofit organization Robert F. Kennedy Human Rights to champion the causes her late husband pushed for. She met Robert F. Kennedy in 1945 through his sister, Jean Kennedy, on a ski trip.
Persons: Ethel Kennedy, Robert F, Kennedy, Joe Kennedy III, David, Michael, Mary, Maeve, Saoirse, Gideon, Josie, , John F, Martin Luther King Jr, Rory, Cesar Chavez, Daniel Arap Moi, Kerry, Barack Obama, Ethel Kennedy’s, Kennedy Jr, Donald Trump ., Jean Kennedy, George Skakel, Ann Skakel, Saoirse Kennedy Hill, Maeve Kennedy Townsend McKean, CNN’s Paul LeBlanc, Tom Foreman Organizations: CNN, Former Massachusetts, United, Democratic, Farm Workers, Kenyan, Trump, RFK Jr Locations: United States, Los Angeles, Mexico, Chicago, Greenwich , Connecticut
Aside from EVs, GM touted its lowering capital costs and the company’s flexibility to produce both traditional vehicles with internal combustion engines and EVs. Shares of GM were roughly level aside from a roughly 3% increase during the beginning of the event. The change to Ultium comes after GM spent billions of dollars to develop in-house “Ultium” batteries and technologies that the automaker previously touted as “revolutionary” and the ultimate technologies to be able to build a profitable EV business. The company said the batteries and the technologies will remain, but the name “Ultium” will not, other than production operations such as its “Ultium Cells” joint venture plants with LG Energy Solution. GM has been rethinking its EV battery strategy amid changing market conditions and an influx of new, outside executives, including Tesla veterans JP Clausen, who now leads GM manufacturing, and Kurt Kelty, GM’s vice president of battery.
Persons: GM, EVs, Ultium, , JP Clausen, Kurt Kelty, Mary Barra, ” Kelty, Rory Harvey, , Orion Organizations: DETROIT, Detroit automaker, GM, LG Energy, Tesla, LG, South Korea’s Samsung SDI, CNBC, Orion Locations: North America, Orion Township , Michigan, U.S, Detroit
AdvertisementVarious Chinese ministries and local governments are likely to roll out a variety of stimulus measures in the coming weeks — useful or not, they added. China still has a massive property problem that's unlikely to be solved with one set of stimulus measures. China's stock markets, which are dominated by retail investors fixated on social media, are blistering hot. China's stock markets are closed for weeklong National Day public holidays and are set to reopen on Tuesday. "Stimulus measures could add more fuel to the fire when stock markets are already heated.
Persons: , it's, Nomura, Freya Beamish, Rory Green, Ben Harburg, Larry Hu, Hu, Magdalena Polan, Polan, China's Organizations: Service, Global Data.TS, , MSA, Macquarie Group, CSI, Nomura Locations: China, Saudi Arabia, Beijing, Harburg
Alexis Bledel on "Gilmore Girls: A Year in the Life." NetflixAlmost 10 years after "Gilmore Girls" ended, the showrunners revived the series on Netflix's "Gilmore Girls: A Year in the Life." On the series, viewers find out that Rory is pregnant, but it's unclear who the father is. Over the course of the revival, she's shown in an on-again, off-again relationship with both her boyfriend Paul and ex-boyfriend Logan. Matt Czuchry, who played Logan, told Us Weekly in 2021 that creator Amy Sherman-Palladino and executive producer Dan Palladino told him who the father is.
Persons: Alexis Bledel, Gilmore, Rory, she's, Paul, Logan, There's, Jess Mariano, Matt Czuchry, Amy Sherman, Palladino, Dan Palladino Organizations: Netflix Locations: New York
DETROIT — Increases in sales of electric vehicles and small crossovers helped General Motors report slightly better-than-expected sales during the third quarter. The Detroit automaker reported a 2.2% drop in third-quarter sales compared with a year earlier, slipping to 659,601 vehicles sold. GM's third-quarter sales are expected to be in line with the overall industry. Cox Automotive and Edmunds project third-quarter sales industrywide will be down roughly 2% compared to a year earlier. Still, EVs made up only 4.9% of the company's total third-quarter sales.
Persons: Edmunds, EVs, Rory Harvey Organizations: Motors, Detroit, Auto, Cox Automotive, GM, CNBC, Chevrolet Trax, Buick Locations: Detroit, DETROIT, North America, U.S
China's stock markets surged this week, marking the best weekly performance since late 2008. AdvertisementChina's stock markets closed sharply higher Friday, notching their best week in 16 years as investors joined the rally party. The stock market party overwhelmed tech systemsThe stock market party got too hot to handle. AdvertisementFurthermore, the US Federal Reserve has started cutting interest rates, which has historically benefited Chinese markets, they added. So even if Beijing's stimulus isn't enough for China's economy, a liquidity or leverage-driven market rally could still be "very powerful," they wrote.
Persons: , Vishnu Varathan, Hong, Hao Hong, Pan Gongsheng, Data.TS, Freya Beamish, Rory Green Organizations: Service, Grow Investment, Shanghai Stock Exchange, of America, Bank of America, US Federal Reserve, People's Bank of China Locations: China, Beijing, Asia, Japan, Shanghai, India
AdvertisementLorraine Tan, Morningstar's director of equity research for Asia, also thinks monetary stimulus won't be sufficient. History says their skepticism is warranted, as China's past stimulus efforts have often failed to lead to sustainable gains. Even if this surge holds up, it won't necessarily spark a self-fulfilling prophecy that provides a lasting boost for China's economy. But others like Tan from Morningstar believe this bad news is reflected in Chinese stocks' cheap valuations. The team at UBS Global Wealth Management is also cautiously optimistic about Chinese stocks after this news.
Persons: , they're, Betty Wang, Marcelli, Lorraine Tan, Tan, Brian Mulberry, Mulberry, Wang, China isn't, Jeff Kleintop, Charles Schwab, Donald Trump, Rory Green, Xi Jinping, Biden, Trump, That's, Kleintop, Morningstar, she'd Organizations: Service, Business, People's Bank of, Oxford Economics, UBS Global Wealth Management, Zacks Investment Management, Federal Reserve, BI Locations: China, People's Bank of China, Asia, Central, Republic
The measures were significant because Beijing has been holding back on a "bazooka" stimulus even though China's economy has been struggling to stage a convincing recovery post-pandemic. To be sure, this is not the first attempt China has made at boosting its economy in the past few years. However, Beijing's display of resolve also triggered market speculation that it's alarmed and panicked over the state of its economy, which is facing multiple challenges. Related storiesNotably, even on the heels of China's big stimulus announcement, most analysts also think Beijing still needs to do more to boost China's economy, particularly in boosting gloomy domestic demand. "Onshore stocks are a policy- and momentum-driven market, and policy signals don't get much clearer than this," they wrote.
Persons: , Pan Gongsheng, Andrew Rocco, Rocco didn't, Pan, Freya Beamish, Rory Green, Anthony Sassine, Sassine, Rocco, macroeconomy, China's CSI300 Organizations: Service, People's Bank of China, Business, Lombard, Investors, Zacks Investment Research, Global Data.TS, Yahoo Finance, Data.TS Locations: China, Beijing, Swiss, London
While GM has withdrawn most of its previously announced electric vehicle targets, the automaker believes its EV sales momentum is finally building thanks to an expanding lineup of all-electric vehicles — spanning a price range of roughly $35,000 to more than $300,000. GM sold nearly 21,000 EVs in the U.S. in July and August — almost matching its full second-quarter EV sales. GM’s EV sales through August were up about 70% compared with a year earlier. It still remained more than 20,000 units shy of Hyundai/Kia EV sales through last month. Growing EV lineupGrowing EV lineupGM currently offers eight “Ultium-based” EVs for consumers — referring to its electric vehicle architecture and battery technologies.
Persons: WARREN, Mary Barra, Elon Musk’s, ” Rory Harvey, , ” Harvey, GM’s, Tesla, Harvey, , Stephanie Brinley, ” Brinley, EVs, ” “, ‘ Butts, Barra, carmaker Organizations: General Motors, Detroit, U.S, GM, Elon Musk’s carmaker, Hyundai, Kia, Ford, CNBC, Detroit automaker, Motor Intelligence, EV, P, ” Cox Automotive Locations: Mich, North America, U.S, Detroit, Barra, U.K, , EVs
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