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☆ As North Korea, Iran and China support Russia’s war, is a ‘new axis’ emerging?
▼ + stars: | 2024-10-24 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +11 min

The remains of an unidentified missile, which Ukrainian authorities claimed to be made in North Korea, is seen at a site of a Russian strike in Kharkiv, Ukraine on January 2. China, Russia and Iran have also held four joint naval drills since 2019, and China is by far Iran’s largest energy buyer. Beijing also carefully manages its relationship with North Korea – which is almost wholly economically and diplomatically dependent on China. “Russia, North Korea, Iran is the type of grouping that China least wants to openly associate itself with,” said Tong Zhao, a senior fellow at the Carnegie Endowment for International Peace. An Iranian military boat patrols ahead of the start of a joint naval drill of Iran, Russia and China in the Indian Ocean in May.

Persons: They’ve, Lloyd Austin, George W, Bush’s, ”, Kim Jong, Kim, there’s, what’s, Bashar al, Assad, Israel –, Xi Jinping, Putin, Alex Gabuev, Sofiia Gatilova, Xi, Loup, “, Tong Zhao, Zhao, Sydney Seiler Organizations: Hong Kong CNN, Korean, Moscow’s, US, North, West, Carnegie Russia Eurasia Center, China’s, National University of Singapore’s Middle East Institute, Carnegie Endowment, International Peace, Iranian Army, AP, UN, National Defense Strategy, NATO, Center for Strategic, International Studies Locations: Hong Kong, Russia, Ukraine, United States, Tehran, China, Iran, North Korea, Washington, Europe, Pacific, Nazi Germany, Fascist Italy, Imperial Japan, Iraq, South Korea, Pyongyang, Syria, Beijing, Moscow, Berlin, Kharkiv, Kazan, Israel, Jean, South, Taiwan, “ Russia, ”, Iranian, Asia, Australia, Japan, New Zealand, North Asia, Sydney

☆ Boeing had a tough 24 hours, but with CEO Kelly Ortberg's turnaround plan, analysts remain hopeful
▼ + stars: | 2024-10-24 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

CEO Kelly Ortberg has vowed to turn around the company and laid out a four-point plan. CEO Kelly Ortberg vowed to "return Boeing to its former legacy" and said the company would focus on changing its culture. However, restoring the traditional defined-benefit pension plan — replaced with a 401(k) in 2014 negotiations — has been a key issue for many on the picket lines. Bank of America analysts estimated that restoring this pension plan would cost up to $400 million annually. Boeing's production has been limited as it faces supply-chain constraints and renewed scrutiny from regulators in the wake of January's Alaska Airlines blowout.

Persons: Kelly Ortberg, —, Manuel Valdes, William Blair, Peter McNally, China's, McNally, Morningstar's Nicolas Owens, Ortberg Organizations: Boeing, Service, CNBC, Wall Street, Labor, Seattle Times, Bank of America, Anderson Economic Group, AP, Alaska Airlines, Airbus Locations: Seattle, Pacific Northwest

As part of his efforts leading up to Election Day, former President Donald Trump will address the Asian American and Pacific Islander community at a rally in Nevada on Thursday. Trump will take the stage in Las Vegas alongside former GOP presidential candidate Vivek Ramaswamy and former Rep. Tulsi Gabbard of Hawaii in one of his first events geared toward Asian American communities. Organizers say they aim to bring Asian voters into the conservative movement and convince them Trump is the best choice for them. Exit polling after the 2020 election showed 58% of eligible voters in the community supported Joe Biden, while 40% supported Trump. Progressive Asian American and Pacific Islander leaders take issue with Kirk’s characterization that Asians in the state are aligning with Trump, saying their observation has been the opposite.

Persons: Donald Trump, Trump, Vivek Ramaswamy, Tulsi Gabbard, Charlie Kirk, “, Trump’s, Joe Biden, Harris, ”, Eric Jeng, Steven Cheung, President Trump Organizations: American, Pacific, GOP, Change, Trump, Organizers, Progressive Locations: Pacific Islander, Nevada, Las Vegas, Hawaii, American, APIA Nevada

☆ Lonely Planet’s top places to go in 2025
▼ + stars: | 2024-10-23 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +5 min

CNN —Grab your passport and your sunscreen, Lonely Planet has just revealed its 30 must-visit destinations for 2025 as well as a brand-new rundown of top 10 travel trends. Cameroon, Lithuania and Fiji got nods as country destinations and Chiriqui in Panama and Valais in Switzerland were classed as regions with rizz. For cities, “number one on the list this year is Toulouse, France,” Nitya Chambers, Lonely Planet’s SVP, content and executive editor, tells CNN. Train-hopping is the top travel trend identified by Lonely Planet in this 15th edition of its best-selling “Best in Travel” book. Christopher Horsley/Getty ImagesLocal flavors and outdoor adventureThe northern Thai city of Chiang Mai weaves into Lonely Planet’s local flavors travel trend.

Persons: ” Nitya Chambers, It’s, Chambers, ”, Christopher Horsley, Chiang Mai, “, rawness, it’s, –, Justin Foulkes, Bulgaria Chiang Mai Organizations: CNN, Lonely Planet’s, Lonely, Getty, Sustainable Development, ”, Regions, Cities, Brazil Palma de Mallorca, Cameroon Lithuania Fiji Laos Kazakhstan Paraguay Trinidad & Tobago Vanuatu Slovakia Armenia Regions Low, Coastal Locations: Bansko, Bulgaria, Osaka, Japan, Edmonton, Canada, Cameroon, Lithuania, Fiji, Chiriqui, Panama, Valais, Switzerland, Toulouse, France, Puducherry, Pondicherry, Chennai, Vanuatu, Ambrym, Christopher, Thai, Pacific Islands, England, East Anglia, Turkey, Giresun, Coastal Georgia, Cities Toulouse, France Pondicherry, India Bansko, Thailand Genoa, Italy Pittsburgh, USA Osaka, Japan Curitiba, Brazil, Spain Edmonton, Cameroon Lithuania Fiji Laos Kazakhstan Paraguay Trinidad & Tobago Vanuatu Slovakia, Nepal Chiriqui, Panama Launceston, Valley, Australia Valais, Turkiye Bavaria, Germany, Anglia, Hood, Columbia, Oregon

☆ Boba tea startup rejected by 'Shark Tank' pitches Simu Liu after cultural appropriation debate
▼ + stars: | 2024-10-23 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +6 min

The Twrl founders say they hope the initiative they took moves those conversations forward and educates some people along the way. Later, Taiwan would claim to be the birthplace of the boba drink concept, a sweet concoction of an aromatic tea, milk and boba balls. The first U.S. boba drink shops opened in the 1990s but there’s conflicting reports on whether the San Francisco Bay Area or Southern California was the starting point, Phun said. But it didn’t come from a place of, ‘I really love boba tea,’” she said. Meanwhile, the “Dragons’ Den” episode led to some significant fallout.

Persons: Olivia Chen, Pauline Ang, Simu Liu, Liu, Chi, Twrl, “, ”, Chen, ” Liu, Juily, South America . Colonization, boba, Phun, ” Phun, “ It’s, ” Megan Ruan, they’re, ” Chen, ‘, ” Ruan, it’s, Ang, Manjit Minhas Organizations: ABC, San, Bobba, American, Cal State, South America ., San Francisco Bay Area, Gold House Ventures, Foods Locations: San Francisco Bay, “, Quebec, Taiwan, South America, Pacific Islands, Asia, U.S, Southern California, American, Japan, China

The United States, Ukraine and South Korea say that North Korean troops were dispatched to Russia for training with the aim of being deployed to Ukraine. North Korean leader Kim Jong Un and Russia's President Vladimir Putin after signing a comprehensive strategic partnership in Pyongyang, North Korea on June 19, 2024. “We are developing scenarios to understand the potential impacts North Korea and Russia’s actions could have on us,” the government official said. The arrangement could also help North Korea gain real-world intelligence on the functioning of its weaponry. Soldiers march in a parade for the 70th anniversary of North Korea's founding day in Pyongyang, North Korea, on September 9, 2018.

Persons: Volodymyr Zelensky, ” Zelensky, Inna Varenytsia, Kim Jong, Vladimir Putin, Dmitry Peskov, Peskov, ”, François Walschaerts, Foreign Affairs Kim Hong, Kim Tae, Defense Lloyd Austin, ” Austin, John Kirby, “, Carl Schuster, Ng Han Guan, Kim, Chun, ” Chun Organizations: South Korea CNN, Ukraine, NATO, Korean, CNN, National Intelligence Service, North, Maxar Technologies, Maxar, UN, Foreign Ministry, Getty, Korean First, Foreign Affairs, National Security Office, South, Moscow, Defense, National Security, Pacific Command’s Joint Intelligence Center Locations: Seoul, South Korea, Korea, Ukraine, Europe, United States, Russia, North Korea, Moscow, Pyongyang, Kyiv, Washington, Chasiv Yar, Donetsk region, Koreans, South, Russia’s Far, China, Sergeevka, Russian, Brussels, AFP, South Korean, ” South Korea

☆ Ron Ely, TV’s ‘Tarzan’ in the 1960s, dead at 86
▼ + stars: | 2024-10-23 | by ( The Associated Press | ) edition.cnn.com time to read: +4 min

Los Angeles Associated Press —Ron Ely, the tall, musclebound actor who played the title character in the 1960s NBC series “Tarzan,” has died at age 86. While Ron Ely was not quite as well-known as Johnny Weismuller, the Olympic swimmer who played Tarzan in movies in the 1930s and 1940s, Ely helped form the image of the shirtless, loincloth-wearing character further immortalized by Disney. “He was an actor, writer, coach, mentor, family man and leader,” Kirsten Ely said in an Instagram post. Ron Ely, who was home during the stabbing, challenged the prosecutor’s report that his son’s shooting was justified. You do Tarzan and you are stamped for life’,” Ely told the Daily Express.

Persons: Ron Ely, ”, Ely’s, Kirsten Casale Ely, Johnny Weismuller, Ely, ” Kirsten Ely, Valerie Lundeen Ely, Santa Barbara, Cameron Ely, John Burris, “, that’s, Valerie, I, didn’t, Edgar Rice Burroughs, Mike Henry, ” Ely, Henry, ’, Doc Savage, Jake Sands, Kaitland Ely Organizations: Angeles Associated Press, NBC, Associated Press, Disney, Miss America, London’s Daily Express, Daily Express Locations: Los Alamos , California, Santa Barbara County, Santa, Miss Florida, American, Brazil, Beach, ”, Hereford , Texas, Amarillo

☆ Coca-Cola tops earnings estimates, as higher prices offset sluggish demand
▼ + stars: | 2024-10-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

Coca-Cola on Wednesday reported quarterly earnings and revenue that topped analysts' expectations, thanks to a boost from higher prices that offset sluggish demand. Unit case volume fell 1% in the quarter, driven by weakening demand in some international markets. Consumer companies, including Coke, have reported in recent months that customers are more price sensitive, leading to sluggish demand for its products as prices remain high. Pepsi said volume for its North American beverage business fell 3% in its third quarter, fueled by weakening demand for energy drinks. Coke is projecting a low-single-digit headwind for comparable revenue and a mid-single-digit headwind for earnings per share.

Persons: Coke, Quincey Organizations: LSEG, Consumer, PepsiCo, Quaker Foods, Pepsi, CPI Locations: U.S, North America, Chico, Europe, Middle East, Africa, Asia, Pacific, China, Turkey, Latin America, Argentina

☆ Asia stocks mostly rise after Wall Street rally stalls; Tokyo Metro shares soar on debut
▼ + stars: | 2024-10-23 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Pokemon game characters of Japanese video game manufacturer Nintendo are on display on a subway train car in Tokyo, Japan. Asia-Pacific markets mostly rose Tuesday, breaking ranks with major Wall Street benchmarks, while Japanese subway operator Tokyo Metro's stellar market debut boosted investor optimism. The company, one of Japan's leading subway operators and the largest in Tokyo, raised 348.6 billion yen in its initial public offering, the largest IPO in Japan since 2018. The IPO was reportedly 15 times oversubscribed and priced at the top end of its pricing band, offering shares at 1,200 yen apiece. The overall consumer inflation rose 2% from the previous year, compared with the expected 1.9%.

Organizations: Nintendo, Tokyo Metro, Reuters Locations: Tokyo, Japan, Asia, Pacific

“We assess that between early- to mid-October, North Korea moved at least 3,000 soldiers into eastern Russia,” National Security Council spokesman John Kirby said. “We assess that these soldiers traveled by ship from the Wonsan area in North Korea to Vladivostok, Russia. “We are seeing evidence that that there are North Korean troops that have gone to Russia,” Austin told reporters traveling with him in Rome on Wednesday. A senior administration official said earlier Wednesday that the training of North Korean soldiers and possible preparation to send them to find to Ukraine is a sign of serious desperation on Russia’s part. Meanwhile, South Korea’s spy agency, the National Intelligence Service, said Friday that North Korea has shipped 1,500 soldiers, including special forces fighters, to Russia for training.

Persons: “, John Kirby, …, Defense Lloyd Austin, ” Austin, Austin, Kirby, Putin, ” Kirby, Volodymyr Zelensky, Kevin Liptak, MJ Lee Organizations: CNN, Ukraine, ” National Security, Defense, US, Korean, Kremlin, UN, United, NATO, National Intelligence Service Locations: Russia, North Korea, Wonsan, Vladivostok, Ukrainian, Korea, Ukraine, Rome, Europe, Pacific, Moscow, Pyongyang, United States, Kyiv, Washington, Koreans, South

☆ Defensive stocks offer solid dividend yields. Bank of America likes these names
▼ + stars: | 2024-10-23 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

The natural gas liquids midstream space is "relatively defensive," she added. Here are a few of the stocks that Salisbury's team highlighted with buy recommendations. "Even in softening oil environment, still surprisingly cheap compared to how much cash could be paid out if capex/acquisitions ever slow even a little bit," Salisbury's team noted. Finally, Bank of America called out Kinder Morgan , saying it is among the "key beneficiaries of long-term U.S. gas demand inflection in 2025." As gas demand rises, Bank of America sees a positive catalyst for brownfield gas pipelines — as in, pipelines that are already part of an existing facility, rather than those that are newly built.

Persons: Jean Ann Salisbury, Kinder Morgan Organizations: Bank of America, Enterprise Products Partners, Bank of, Enterprise, Enterprise Products, Williams Locations: Lake Charles , Louisiana, Arizona, East Coast, Pacific

Consistent with U.S. policy, Harris has also declined to say whether she would use military force to defend Taiwan. Instead she emphasizes the importance of military communications with China and supporting Taiwan’s ability to defend itself. Tariff talkThough Trump talks far more about China on the campaign trail than Harris does, neither of them have said much about how they would manage ties with Beijing. Biden has maintained and in some cases expanded tariffs on Chinese imports that Trump introduced as president, citing national security concerns. If she wins, Harris is expected to continue Biden’s targeted tariffs and restrictions on key Chinese tech sectors.

Persons: Trump, Xi, Harris, Biden, Wu Xinbo, ” Organizations: Washington, Wall Street, United States ’, Beijing, Trump, Peterson Institute for International Economics, Center for American Studies, Fudan University, “, Asia Society Policy Institute Locations: Taiwan, China, Ukraine, Washington, Asia, Shanghai, U.S

☆ CNBC Daily Open: High interest rate worries pressure stocks
▼ + stars: | 2024-10-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Shares of Hyundai Motor India fallHyundai Motor India shares retreated more than 5% on Tuesday – their trading debut – according to BSE data. Hyundai Motor India is a wholly owned Indian subsidiary of South Korean automaker Hyundai. New bullish phase for goldGold prices hit a record high of $2,700 per ounce on Monday, and are continuing their ascent Tuesday.

Persons: Australia's, Paul Wong Organizations: CNBC, Nasdaq, Dow Jones, Treasury, Hyundai Motor India, Hyundai, South, Reuters, Sprott Asset Management, Citi, U.S ., Scotiabank, Canadian Locations: Asia, Pacific, India, Reuters ., China, U.S

☆ India and China have struck a deal that could ease tension along its disputed border
▼ + stars: | 2024-10-22 | by ( Simone Mccarthy | Aishwarya S Iyer | ) edition.cnn.com time to read: +5 min

CNN —India and China have reached an agreement on military disengagement along their disputed border, New Delhi said, a step toward reducing frictions between the nuclear-armed neighbors that comes as both countries’ leaders arrive in Russia for a summit. Both foreign ministries declined to comment on whether the two leaders would hold formal one-on-one talks in Kazan. ‘A positive development’The violence in 2020 was followed by a process of disengagement and border talks, but friction points have remained, including areas where both sides previously patrolled but have since become so-called buffer zones. However, even with that restoration, there are other steps that would need to be taken in a long process along the disputed border. “There are many other issues of de-induction and de-mobilization of troops on both sides; infrastructure that has been built, etc.

Persons: Subrahmanyam Jaishankar, Xi Jinping, Narendra Modi, Aksai Chin, Modi, ”, ” Jaishankar, Lin Jian, Beijing “, It’s, Manoj Kewalramani Organizations: CNN, Indian, People’s Liberation Army, PLA, India’s Ministry of Defense, NDTV, India’s, Affairs, Foreign Ministry, Takshashila Locations: India, China, New Delhi, Russia, Beijing, Kazan, Ladakh, Johannesburg, Indian, Bangalore

☆ Russia's friendship with North Korea may have backfired
▼ + stars: | 2024-10-22 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

Kim Jong Un and Vladimir Putin share a toast at a banquet table North Korean State MediaRussia's dangerous new allianceFor decades, South Korea has been in an uneasy standoff with its isolated and authoritarian neighbor, North Korea. AdvertisementRussia formed a new military alliance with North Korea to secure badly needed ammunition from North Korean stockpiles for its faltering campaign in Ukraine. South Korea is increasingly concerned about the technological capabilities and security guarantees North Korea has likely gained from Russia in return. Russia, previously a backer of sanctions designed to curtail North Korea's nuclear program, is now helping North Korea evade them. South Korea says it could arm UkraineIn response to Russia's strengthened relationship with North Korea, South Korea is threatening to arm Ukraine in its battle against the Russian invasion.

Persons: —, Georgiy Zinoviev, Yoon Suk, Zinoviev, Dmitry Peskov, Kim Jong Un, Vladimir Putin, Ellen Kim, Russia's, Joe Biden, Kim Hong Kyun Organizations: Kremlin, Service, Russia, Korean, Korean State Media, Bloomberg, Center for Strategic, International Studies, ROK, South Korea's National Security Council, South, New York Times, Korea's Locations: Korea, North, Russia, Ukraine, North Korea, South Korea, US, Seoul, Asia, East Asia, Moscow, Russian, It's, South

☆ 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

☆ Asia markets open lower after major U.S. indexes slip; India prepares for Hyundai debut
▼ + stars: | 2024-10-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A bronze bull statue outside the Bombay Stock Exchange (BSE) building in Mumbai, India, on Monday, June 3, 2024. India's stock futures jumped after exit polls indicated a resounding victory for Prime Minister Narendra Modi's ruling party in general elections that concluded Saturday. Photographer: Dhiraj Singh/Bloomberg via Getty ImagesAsia-Pacific markets slipped on Tuesday, trailing a mixed session on Wall Street. During the U.S. trading session, two Federal Reserve officials had spoken about the trajectory of interest rates. Dallas Federal Reserve President Lorie Logan said she supports the current move to lowering interest rates, but that a patient approach will be needed.

Persons: Narendra Modi's, Dhiraj Singh, Australia's, Kospi, Neel Kashkari, Lorie Logan Organizations: Bombay Stock Exchange, Bloomberg, Getty Images, Nikkei, Hyundai, Federal, Minneapolis, Dallas Federal Locations: Mumbai, India, Getty Images Asia, Pacific, South, Asia, Hyundai India

☆ Navajo code talker, who played crucial role in WWII, dies at 107
▼ + stars: | 2024-10-21 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +4 min

One of the last Navajo Code Talkers, who helped secure an Allied victory in World War II by sending crucial messages in a code based on the Navajo language, has died. “On behalf of the entire Navajo Nation, our Navajo veterans and service men and women, First Lady Jasmine Blackwater-Nygren and me, we extend our sincerest condolences and prayers to the family of Mr. Kinsel,” Navajo Nation President Buu Nygren said announced on social media. From right, Navajo Code Talkers John Pinto , John Kinsel, Sr. and William T. Brown during the Navajo Nation Code Talkers Day ceremony in Window Rock, Ariz., on Aug. 14, 2018. Kinsel received a Purple Heart in 1989 and a Congressional Silver Medal for his service as a Navajo code talker in 2001. Following Kinsel's death, there are now only two surviving Navajo Code Talkers: Former Navajo Chairman Peter MacDonald and Thomas H. Begay, The Associated Press reported.

Persons: John Kinsel Sr, Lady Jasmine Blackwater, Kinsel, Buu Nygren, Mr, selflessly, Talkers John Pinto, John Kinsel, William T, Brown, Mark Henle, Nygren, “, ”, John Woo, Kinsel’s, Ronald Kinsel, “ Cheii, Peter MacDonald, Thomas H Organizations: Navajo, U.S . Marine Corps, USA, Marines, U.S . Navy, Navajo Times, Marine Corps, Department of Veteran Affairs, Associated Press Locations: Navajo, United States, Republic, Pacific, Iwo Jima, Cove , Arizona, Lukachukai, Guam, Bougainville

King Charles III was heckled in Australia on Monday by an Indigenous senator who shouted “you’re not my king” as the British monarch finished a speech at Parliament House. The king, who is the first reigning British monarch to visit Australia in 13 years, was addressing lawmakers and other dignitaries in the Great Hall of Parliament House in Canberra, the Australian capital. “If he is the successor, then he needs to answer.”Queen Camilla and King Charles III during a ceremony at Parliament House in Canberra, Australia, on Monday. “Nothing stands still.”Earlier on Monday, a traditional Aboriginal welcoming ceremony was held for the royal couple outside Parliament House. “I can only say how much my own experience has been shaped and strengthened by such traditional wisdom.”The king arrived in Australia last Friday.

Persons: King Charles III, “ you’re, ”, Queen Camilla, ” Lidia Thorpe, Charles, Anthony Albanese, “, ” Thorpe, Thorpe, “ We’ll, ” Queen Camilla, Victoria Jones, Queen Elizabeth II, ” Albanese, Albanese, we’ve, Australia’s, ” Charles Organizations: House, of Parliament House, Sky News, Getty Images Australia, Australia’s Aboriginal, Torres Strait, Nations, Australian Locations: Australia, British, Canberra, Commonwealth, Victoria, Pacific, Samoa

☆ Asia-Pacific markets mixed as investors await China loan prime rate announcement
▼ + stars: | 2024-10-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The central bank of the People's Republic of China is responsible for formulating and implementing monetary policies, preventing and defusing financial risks and maintaining financial stability. Asia-Pacific markets were mixed Monday as traders awaited China's loan prime rate announcement, with focus also on Japan's general election at the end of this week. China's central bank is expected to cut the one-year and five-year LPRs by 20 basis points, according to a note by ING and echoing the statement made by People's Bank of China Governor Pan Gongsheng on Friday. "Data aside, it is worth monitoring if there are potential further government ministry briefings or a potential announcement of the timing for the National People's Congress meeting in the week ahead, as stimulus rollout remains a major theme for markets," ING said. Other key economic data this week will include October inflation figures for Japan's capital city of Tokyo, as well as advance third-quarter GDP figures from South Korea.

Persons: Pan Gongsheng Organizations: ING, People's Bank of China, National People's Locations: People's Republic of China, Asia, Pacific, Tokyo, South Korea

☆ China tightens export controls for tech and goods with military use, ahead of Xi's trip to Russia
▼ + stars: | 2024-10-21 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

A DJI Inspire 1 Pro drone is flown during a demonstration at the SZ DJI Technology Co. headquarters in Shenzhen, China, on Wednesday, April 20, 2016. China has unveiled a set of export control regulations for so-called dual-use items, which refer to goods or technologies that can be used for civilian as well as military purposes, ahead of President Xi Jinping's trip to Russia. The regulations come amid intensified U.S. sanctions targeting Chinese companies which the U.S. deems have been supplying dual-use goods, such as drones, to aid Russia's war effort in Ukraine. China has attempted to show that "it is following similar norms as other nations in terms of how it regulates trade in dual-use goods," he added. Alicia Garcia-Herrero, chief economist for Asia-Pacific at Natixis, however, suggested that Russia will likely be exempted from the possible export controls.

Persons: Xi, Mao Ning, Benjamin Cavender, Alicia Garcia, Herrero, Alex Capri Organizations: SZ, Technology, State, China Market Research Group, National University of Singapore Locations: Shenzhen, China, Russia, Ukraine, Russian, Kazan, Washington, Asia, Natixis

☆ BRICS: The West wants Putin isolated. A major summit he’s hosting shows he’s far from alone
▼ + stars: | 2024-10-21 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Brazilian President Luiz Inacio Lula da Silva was expected to join but canceled his trip after suffering an injury at home. “This BRICS summit is really a gift (for Putin),” said Alex Gabuev, director of the Carnegie Russia Eurasia Center in Berlin. Russian President Vladimir Putin, Chinese leader Xi Jinping, then-Brazilian President Jair Bolsonaro, South African President Cyril Ramaphosa and Indian Prime Minister Narendra Modi pose as they arrive for the BRICS summit in Brasilia in November 2019. While BRICS is primarily geared toward economic collaboration, its meeting last year took place in the shadow of the war in Ukraine. The gathering in Kazan also gives Putin ample opportunity for one-on-one facetime with his fellow BRICS leaders and other friendly dignitaries in attendance.

Persons: Vladimir Putin, –, Xi, India’s Narendra Modi, Iran’s Masoud, Cyril Ramaphosa, Recep Tayyip Erdogan, Luiz Inacio Lula da Silva, Putin –, Xi –, Putin, BRICS, Donald Trump, ”, Alex Gabuev, …, BRICS “, ” Gabuev, Xi Jinping, Jair Bolsonaro, Narendra Modi, Adriano Machado, Mahmoud Abbas, Israel –, Jonathan Fulton, Volodymyr Zelensky, Yevhen Titov, they’ll, Manoj Kewalramani Organizations: CNN, Carnegie Russia Eurasia Center, Indian, Reuters, International, Israel, Atlantic Council, United Nations General Assembly, US, New Development Bank, World Bank, International Monetary Fund, BRICS, Kremlin, Takshashila Locations: Ukraine, Moscow, Russian, Kazan, Brazil, Russia, India, China, South Africa, Egypt, United Arab Emirates, Ethiopia, Iran, Beijing, Tehran, United States, Berlin, Brasilia, Johannesburg, Israel, Gaza, Hezbollah, Lebanon, Abu Dhabi, “, Gabuev, BRICS, Kharkiv, Indian, Bangalore

☆ Hawaii lifeguard rescues stranded teenage kayaker
▼ + stars: | 2024-10-21 | by ( Alaa Elassar | ) edition.cnn.com time to read: +8 min

But finally, “I knew I couldn’t waste any more time,” Keaulana told CNN. The missing 17-year-old was Kahiau Kawai. When the sun started setting and I was going further out as it got darker, that’s when I started to worry,” Kahiau told CNN. And this kid somehow survives the whole night,” Keaulana said. Kahiau Kawai, who is wearing the long sleeve shirt, with his Kamehameha Schools kayaking teammates at the conference championships after surviving 11 hours stranded in the ocean.

Persons: Noland Keaulana, ’, “, ” Keaulana, Kahiau Kawai, Kahiau, ” Kahiau, Keaulana, ‘, Jensen Kalua, Cmdr, Zach Hunter, ”, Kelehua Kawai, ” Kahiau Kawai, ” Kawai, “ I’m Organizations: CNN, Honolulu Ocean Safety Department, Honolulu Fire Department, US Coast Guard, Authorities, Noland Keaulana . U.S . Coast Guard, Coast Guard, ” Coast Guard, Hawaii News, Polynesian, Kamehameha Schools Locations: Honolulu, Keaulana, Ala Wai, Noland Keaulana . U.S, Hawaiian

☆ Looking for dividend stocks? Here are Morgan Stanley’s top Asia picks for the fourth quarter
▼ + stars: | 2024-10-21 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

As investors attempt to navigate volatile global markets, Morgan Stanley is reiterating its recommendation to buy dividend stocks. Morgan Stanley named the world's largest contract electronics manufacturer as its top pick. Shares of Hon Hai are traded on the Taiwan Stock Exchange and are included in ETFs such as the iShares MSCI Taiwan ETF (6.2% weight). Morgan Stanley has a 12-month target price of 270 New Taiwan dollars ($8.42) on the stock, giving it around 30% potential upside. Morgan Stanley has a target price of 8.76 Hong Kong dollars ($1.13) on the stock, implying around 43% upside.

Persons: Morgan Stanley, Morgan, Mogan Stanley, Hai, Brent, CNBC's Michael Bloom Organizations: Asia, Apple, Hai Precision, Taiwan Stock Exchange, New, Hong Kong, Brent, Shanghai Stock Exchanges Locations: Japan, Asia, Pacific, China , Hong Kong, Taiwan, New Taiwan, Hong Kong, U.S

☆ European markets set to start the new trading week in mixed territory
▼ + stars: | 2024-10-21 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading toward a mixed start to the new trading week. The U.K.'s FTSE 100 index is expected to open 17 points higher at 8,373, Germany's DAX down 12 points at 19,644, France's CAC up 1 point at 7,611 and Italy's FTSE MIB up 55 points at 35,087, according to data from IG. Regional markets had ended last week on a high note after the European Central Bank announced its third interest rate cut of the year last Thursday, lowering the deposit rate by another 25 basis points, as inflation risks in the European Union are seen to be easing faster than anticipated. Overnight, Asia-Pacific markets were mixed as traders assessed China's loan prime rate announcement, with focus also on Japan's general election at the end of this week. Stateside, stock futures ticked higher Sunday night after the Dow Jones Industrial Average and S&P 500 notched their best weekly win streaks of 2024.

Persons: Germany's DAX Organizations: France's CAC, IG, Regional, European Central Bank, Dow Jones Industrial Locations: European Union, Asia, Pacific

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