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Like Larissa, she’d just come out of a long term relationship and had sworn herself to singledom, vowing to put all her time and energy into work. The day Rachel ended up on Larissa’s Nashville doorstep, she was supposed to be on a plane to California for work. By the fifth day, Rachel was ready to give up. Then, she filled in the blanks for Rachel, explaining that earlier that day, she’d come out as bisexual to her parents. “I was like, ‘Oh Mom, this is my friend Larissa from Nashville.’ And my mom was like, ‘Oh, cool,’ and she hugged her.
Persons: CNN —, Larissa Santos, Rachel Bush, Larissa, , , Rachel, ” Larissa, they’d, she’d, singledom, Katie –, Katie, Katie messaged, “ Let’s, ” Katie, ” Rachel, Katie’s friend’s, Rachel Santos Rachel’s, Larissa’s, hadn’t, She’d, They’d, Rachel Santos, ’ ”, “ We’re, Rachel texted Larissa, who’d, Rachel –, Larissa FaceTimed, Awesome, Rachel – she’d, ’ ” Larissa, ’ ” Rachel, , There’s, ” Larissa Santos “, it’s, I’m, , “ I’ll, Larissa – they’d, “ I’m, we’ve, , Mrs Santos, Li Shen Ye Larissa, Rachel “ Organizations: CNN, CNN Travel, Nashville, Larissa, , Vizcaya Museum & Gardens Locations: Kentucky, Tennessee, Larissa, California, Nashville, , LouisFort.co, Amalfi Coast, Italy, France, Nice, Miami , Florida, Miami
What China's big earnings say about the consumer
  + stars: | 2023-08-18 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +5 min
But general merchandise revenue fell by 8.6% from a year ago to 81.72 billion yuan. Marketing revenue rose by 8.5% to 22.51 billion yuan. TencentLivestreaming e-commerce saw 150% year-on-year growth in gross merchandise value in the second quarter to an unspecified number. Overall, Tencent reported earnings for the quarter that missed expectations, but showed a third-straight quarter of revenue growth. The overall Taobao and Tmall Group saw revenue grow by 12% to 114.95 billion yuan.
Persons: Aly Song, Tencent, ByteDance, Tim Cook, Li Ning Organizations: Artificial Intelligence, Reuters, Electronics, Tmall, Shanghai Disney, Universal Studios Beijing, Comcast, Baidu, Adidas, Fila, Apple Apple Locations: Shanghai, China, Reuters BEIJING, Douyin, Greater China
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Fed's still worriedFederal Reserve officials are still worried that inflation could rise again, which would necessitate more interest rate hikes, according to minutes from the July meeting. Weaker demand from China caused exports to the country to plunge 13.4%, the eighth consecutive monthly decline. CNBC Pro analyzed sales data and came up with a list of companies that rely significantly on China for their venue.
Persons: Australia's, Li Qiang, Li, it's Organizations: CNBC, Federal, Federal Reserve, China's State, Export, CNBC Pro Locations: Asia, Pacific, China's, China, Japan
People walk past the booth of the battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) at the Auto Shanghai show, in Shanghai, China April 18, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsBEIJING/SHANGHAI, Aug 16 (Reuters) - Chinese battery giant CATL(300750.SZ) on Wednesday launched a fast charging lithium iron phosphate or LFP battery capable of running 400 km (248 miles) on a 10-minute charge. "We hope through continuous efforts to improve technology and reduce costs, Shenxing will become a standard product available for every electric vehicle," Gao said. Automakers such as Chongqing Changan Automobile and Guangzhou Automobile Group also sourced more batteries from smaller suppliers to reduce costs. Reporting by Zhang Yan, Qiaoyi Li and Brenda Goh; Editing by Himani Sarkar and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.
Persons: Aly, , Gao Han, CATL's, Gao, CATL, Zhang Yan, Qiaoyi Li, Brenda Goh, Himani Sarkar, Tomasz Janowski Organizations: Amperex Technology, ., Auto, REUTERS, Rights, Wednesday, Chongqing Changan Automobile, Guangzhou Automobile Group, Thomson Locations: Auto Shanghai, Shanghai, China, Rights BEIJING, SHANGHAI, Chongqing
China defence minister to visit Russia, Belarus Aug 14-19
  + stars: | 2023-08-14 | by ( ) www.reuters.com   time to read: +1 min
Chinese Defence Minister Li Shangfu attends a meeting with Russian President Vladimir Putin and Defence Minister Sergei Shoigu in Moscow, Russia, April 16, 2023. Sputnik/Pavel Bednyakov/Pool via REUTERS/File PhotoBEIJING, Aug 14 (Reuters) - China's defence minister Li Shangfu will visit Russia and Belarus from Aug. 14-19, the ministry said in a statement on Monday. While in Russia, Li will attend an international security meeting and make a speech there, according to the statement. During his visit to Belarus, he will meet with the Belarus' head of state and military. Li will also visit military departments in Belarus.
Persons: Li Shangfu, Vladimir Putin, Sergei Shoigu, Pavel Bednyakov, Li, Albee Zhang, Liz Lee, Kim Coghill Organizations: Defence, Sputnik, Thomson Locations: Moscow, Russia, BEIJING, Belarus, China, Beijing
Check out the companies making headlines before the bell:Capri , Tapestry — Capri soared more than 57%, while Tapestry slid 3.2% in premarket trading. AppLovin — AppLovin shares popped 25.8% in early morning trading after the company posted strong second-quarter results and optimistic third-quarter revenue guidance. The game developer said it expects $780 million to $800 million in revenue for the third quarter, exceeding the $741 million expected by analysts. AppLovin reported earnings of 22 cents per share for the second quarter, while analysts expected 7 cents, according to Refinitiv. The amusement park company reported earnings of 25 cents per share on revenue of $444.0 million.
Persons: Kate Spade, Versace, Jimmy Choo, Michael Kors, AppLovin, Sonos, Refinitiv, Walt Disney, — Illumina, Yun Li, Jesse Pound, Pia Singh Organizations: Capri Holdings, Capri, Wynn, Wynn Resorts, Walt Disney —, Disney, Six Locations: Alibaba, China
Ukrainian, Russian and international officials say there is no prospect of direct peace talks between Ukraine and Russia at present, with the war raging. The world's top oil exporter Saudi Arabia, which has maintained contacts with both sides since Russia invaded Ukraine last February, has played a role in convening countries that did not join earlier meetings, Western diplomats have said. SAUDI DIPLOMACYWestern officials and analysts said Saudi diplomacy had been important in securing China's presence at the talks. Zelenskiy attended an Arab League summit in Saudi Arabia last year where MbS voiced readiness to help mediate in the war. In March, Beijing brokered a resumption of ties between Saudi Arabia and its arch regional foe Iran.
Persons: Andriy Yermak, Volodymyr Zelenskyi, Volodymyr Zelenskiy's, Zelenskiy, Russia's, Eurasian Affairs Li Hui, Ajit Doval, Crown Prince Mohammed bin Salman, Xi Jinping, Kristian Coates Ulrichsen, Rice, Yun Sun, Sun, Lidia Kelly, Maha El Dahan, Omar Abdel, Michael Martina, Aftab Ahmed, Angus McDowall, Andrew Cawthorne Organizations: International, REUTERS, Saudi, Global, Kremlin, Eurasian Affairs, Indian National Security, Crown, Arab, MbS, Shanghai Cooperation Organization, Iran, Baker Institute, Stimson, Razek, Thomson Locations: Ukraine, Kyiv, China, India, Jeddah Ukraine, Russia, DUBAI, United States, Saudi Arabia, Ukrainian, Copenhagen, Beijing, Moscow, Jeddah, Riyadh, SAUDI, Saudi, Turkey, Middle East, Washington, Warsaw, Maha, Dubai, New Delhi
Investing alongside Malone is complicated for individuals because Liberty Media has a string of tracking stocks for all its different businesses. The media conglomerate has two tracking stock groups: Liberty SiriusXM Group and Formula One Group. Liberty Media owns Formula One, which trades under tracking stock Liberty Media Formula One . Live Nation trades under its common stock ticker LYV, while's Liberty's share is available under the LLYVA and LLYVB tracking stocks. For the new Liberty SiriusXM tracking stocks LSXMK and LSXMA, the reclassification could help narrow the stock's wide discount to its net asset value, according to Citi.
Persons: John, Malone, SIRI, while's, BATRA Organizations: Liberty Media, Sirius XM Holdings, Entertainment, Liberty SiriusXM Group, Formula One, Nation Entertainment, Live, Major League Baseball's, Atlanta Braves, Liberty Media Corp, Nasdaq, Liberty, Citi Locations: New York
Bernstein is bullish on the Chinese electric-vehicle market and named Li Auto as a potential winner. "Li Auto remains our top long-term pick on higher confidence in its earnings growth prospect and management execution ability." "Li Auto deserves a premium over its peers on its track record and outlook," the analyst wrote. "We assume Li Auto can grow its market share and reach c. 10% operating margin in steady state." Improvement in consumer sentiment and credit growth could represent further tailwinds," Lee wrote.
Persons: Bernstein, Li Auto, Eunice Lee, Lee, Li, — CNBC's Michael Bloom Organizations: Li, EV Locations: Wednesday's, Russia, China
After going through a breakup last year, Connie Li, a software engineer, rejoined the dating apps, ready to dip her toe in the water again. But many of the men who reached out to her seemed to just want something casual, so she tried something new. Inspired by long, résumé-like dating bios that she had seen others post online, she drafted her own profile. In a Google Docs file longer than this article, Ms. Li, 33, described herself as monogamous, short and prone to wearing colorful outfits. “There is something kinda dorky about ‘date-me docs’ that reminds me of the early days of the internet,” Ms. Li said, referring to the way people used to meet on AIM, AOL’s now-defunct instant messaging service.
Persons: Connie Li, Li, , Ms, “ I’m, I’ve, Organizations: bodega, AIM, AOL’s Locations:
Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. Gasoline inventories fell by 1.7 million barrels, the API data showed, compared with estimates for a 1.3 million barrel drop. Both are indicators of robust prompt fuel demand in the U.S."The seasonal peak demand period (for transportation fuels) and supply cuts by oil producing countries have caused oil prices to rise," said CMC Markets analyst Leon Li. Oil prices may continue to rise, but they may not exceed $90 a barrel given recessionary pressures in some regions such as Europe, said Li. Furthermore, after the summer demand peak passes, "oil prices have entered the end of this round of upward trend", he said.
Persons: Leon Li, Li, Philip Jones, Arathy Somasekhar, Trixie Yap, Christian Schmollinger Organizations: REUTERS, Brent, West Texas, American Petroleum Institute, Organization of, Petroleum, Sparta Commodities, Lux, Thomson Locations: Cushing , Oklahoma, U.S, China, SINGAPORE, Saudi Arabia, Europe, Sparta, Houston, Singapore
On Monday, the central government announced 20 measures to support tourism, as well as spur consumption of electric cars and so-called smart appliances. The support measures announced included an entire section on spurring rural consumption. Specifics included subsidizing trade-ins for purchase of smart household appliances, improving delivery services and promoting rural tourism. Median disposable income for rural households rose by 6.1% in the first half of the year from a year ago, official data showed. But at 8,920 yuan ($1,245) in disposable income, rural households only had about 40% of what urban households had to spend.
Persons: Yang Bo, Xu Hongcai, Li Chunlin, Li, Nomura, Xu, Wang Jun Organizations: China News Service, Getty, China Association of Policy, National Development, Reform Commission, CNBC, Boston Consulting Group, U.S . Authorities, Huatai Asset Management Locations: Nanjing, China, BEIJING, Beijing, Hong Kong
The announcement was the first time either of the two – who had both been in military positions outside the Rocket Force – were named as the force’s leadership. Beijing gave no reason for the change, making the case yet another example of the lack of transparency in China’s political system. The newly appointed Rocket Force leadership both previously held deputy positions in other parts of the military. New missile silosThe leadership change comes as evidence points to an expanding Chinese nuclear force – creating an even more important role for the Rocket Force, which until 2016 was known as the PLA Second Artillery Force. They are responsible for handling and delivering China’s nuclear weapons,” said Drew Thompson, a senior research fellow at the Lee Kuan Yew School of Public Policy at the National University of Singapore.
Persons: Xi Jinping, Wang Houbin, Xu Xisheng, Li Yuchao, Qin Gang, Li, Xu Zhongbo, Xu, China’s, , Yun Sun, Li Gang, Xi, , Qin, Wang Yi, Carl Schuster, “ Xi, ” Schuster, Wang, Neil Thomas, Roderick Lee, Drew Thompson, Lee, ” Thompson Organizations: CNN, Liberation Army Rocket Force, Rocket Force, Xinhua, Communist Party, Stimson, Communist Party’s, Military Commission, People’s Liberation Army, PLA, Pacific Command’s Joint Intelligence Center, PLA Navy, Southern Theater Command, Asia Society, Center for, USAF Air University China Aerospace Studies, ” CNN, China’s Ministry of Defense, PLA Second Artillery Force, US Defense Department, Lee Kuan Yew, of Public, National University of Singapore, Locations: China, Suzhou, Taiwan, Washington, Beijing, Xinhua, Hawaii, Center for China, United States
Xinzhou Wu, vice president of autonomous driving at Xpeng, tendered his resignation "for personal and family reasons," Xpeng said in a statement. Liyun Li, senior director of Xpeng's autonomous driving team, will takeover Wu's role. He Xiaopeng, CEO of Xpeng, praised Wu's contribution to getting Xpeng into a "leading position in autonomous driving technology." The Guangzhou-headquartered firm has tried to position itself as more advanced on autonomous driving and other technologies than its competitors. "I will continue to personally lead our autonomous driving team and strengthen our leadership in Smart EV technologies," the CEO added.
Persons: Xpeng, Xinzhou Wu, Liyun Li, Li, Xpeng's, Xpeng's Xiaopeng, Xiaopeng Organizations: Inc, Shanghai Auto Show, Xpeng, Nio, Li Auto, Volkswagen Group, Smart Locations: Shanghai, China, Tesla, Guangzhou
Jurors will need to be unanimous to impose the death penalty or else the gunman will receive life without the possibility of parole. The panel will now deliver its verdict to U.S. District Court Judge Robert Colville, who is bound to impose their decision against the gunman. Last month, this same jury found the shooter guilty on 63 criminal counts stemming from the attack in the Squirrel Hill neighborhood of Pittsburgh on October 27, 2018. Armed with an AR-15 and other weapons, the shooter barged into the synagogue and opened fire. Law enforcement, five of whom were injured in the shooting, returned fire and hit the gunman, who then surrendered.
Persons: Robert Gregory Bowers, Robert Colville, Dustin John Higgs Organizations: U.S, Department, U.S . Locations: Pittsburgh, U.S, U.S . Penitentiary, Terre Haute, Indiana
Actor Paul Reubens arrives as a guest for Comedy Central television's South Park The Tenth Season party in Los Angeles September 21, 2006. Actor Paul Reubens, who came to fame in the 1980s as children's TV star Pee-wee Herman, has died years after a cancer diagnosis, his team said Monday. Reubens rocketed to fame for creating the sarcastic but good-natured man-child Pee-wee Herman, a character whose red bowtie and sneering catch phrases — "I know you are, but what am I?" That eventually led to Reubens' big break, the 1985 movie "Pee-wee's Big Adventure," helmed by first-time feature film director Tim Burton. The success of "Pee-wee's Big Adventure" led to Reubens landing a Saturday morning CBS show, "Pee-wee's Playhouse."
Persons: Paul Reubens, Herman, Paul, Reubens, I've, Tim Burton, Penelope Cruz, Johnny Depp, Jimmy Kimmel Organizations: Comedy Central, Facebook, HBO, CBS, wee's Locations: Los Angeles, American, Sarasota Florida
Just when Chinese electric car companies may be needing the cash, foreign automakers need the market — not only in China but globally. Volkswagen isn't faring much better in China's electric car market, with an average of just over 10,000 vehicles delivered each month in the first half of the year. China's homegrown electric car brands from BYD to Zeekr have piled into the local market, where Tesla still commands a hefty share. Li Auto was the only one of the three U.S.-listed Chinese electric car companies to have the healthiest reading above 1, according to a Wind Information screen for the first quarter. China's electric car market is set to grow by 27% this year to 8.7 million units — and remain the largest in the world in coming years, according to Bank of America Securities.
Persons: Tesla, Nio, Li Auto, Volkswagen's Organizations: Volkswagen, Everbright Securities, CNBC, Bank of America Securities, International Energy Agency Locations: China, Western Europe, Shanghai, BYD, Abu Dhabi, U.S
Some young adults in China are opting to work as "full-time children" in place of traditional careers. Full-time children are often paid by their parents to run errands, clean, and prepare food. In China, however, young people are turning this idea on its head and staying at home, working as "full-time children." China's notoriously grueling 996 culture, which entails 72-hour workweeks, and difficulty finding employment are some of the main contributors to the "full-time children" movement. In China, there are even social media groups devoted to the "full-time children" trend.
Persons: China's, it's, Julie, Jia Zhang, Zhang, Litsky Li, Li Organizations: BBC, NBC News, CNN, Census Bureau, Karma Locations: China
Some young adults in China are opting to work as "full-time children" in place of traditional careers. Full-time children are often paid by their parents to run errands, clean, and prepare food. In China, however, young people are turning this idea on its head and staying at home, working as "full-time children." China's notoriously grueling 996 culture, which entails 72-hour workweeks, and difficulty finding employment are some of the main contributors to the "full-time children" movement. In China, there are even social media groups devoted to the "full-time children" trend.
Persons: China's, it's, Julie, Jia Zhang, Zhang, Litsky Li, Li Organizations: BBC, NBC News, CNN, Census Bureau, Karma Locations: China
Baron Opportunity Fund has soared 45% this year, blowing its tech peers out of the water. The opportunity fund (BIOPX), with $1 billion assets under management, has notched a 10-year total return of about 15% on an annualized basis, according to Morningstar. Lippert said he owns about 40 names in the portfolio, including this year's big AI winner Nvidia . Another megacap name that Lippert owns to capitalize on the AI boom is Microsoft . "Everyone wants to talk about the big names, but we play this in a portfolio way," Lippert said.
Persons: Opportunity, Michael Lippert, we're, Lippert, Morningstar Organizations: Nvidia, Microsoft, AMD, Marvell Locations: ChatGPT
Henry A. Kissinger, the 100-year-old former secretary of state who has pushed the United States to take a more conciliatory approach to China, has made a surprise visit to Beijing, meeting with China’s defense minister. The previously unannounced trip by Mr. Kissinger, who more than 50 years ago helped pave the way for diplomatic ties between the United States and China during President Richard M. Nixon’s administration, coincided with a string of visits by currently serving American officials to China. On Tuesday, the day that Mr. Kissinger met with Li Shangfu, the defense minister, President Biden’s climate change envoy, John Kerry, met with the Chinese premier and top foreign policy official. But while those officials met with varying levels of chilliness or scolding from Chinese officials or state media, reflecting the geopolitical tensions, the defense ministry’s description of the meeting with Mr. Kissinger was warmer. The fact that Mr. Kissinger met with Mr. Li at all was notable: China last month rebuffed a request for Mr. Li to meet the U.S. defense secretary, Lloyd Austin, at a summit in Singapore.
Persons: Henry A . Kissinger, Kissinger, Richard M, Li Shangfu, John Kerry, Antony J, Blinken, Janet Yellen, Li, Lloyd Austin Locations: United States, China, Beijing, Singapore
That's approximately how large China's "premium" consumer population is – and it's a "huge" opportunity for higher-end sportswear by foreign companies, according to Bernstein. By U.S. standards, it doesn't take much to be considered premium in China. Adidas and Nike are like Benz, BMW, the highest end, he said, while the other brands are like Audi or Toyota. For Nike and Adidas, even their lowest price is two times that of local competitors, the Bernstein analysts said. However, focusing only on the premium growth segment can overlook the fact that many of China's consumers still live in smaller cities.
Persons: Bernstein, Aneesha Sherman, Li Ning, Irving, Miao Kun, , Hoka, — CNBC's Michael Bloom Organizations: . Census, Anta Sports, Wednesday, basketball, Adidas, Nike, Benz, BMW, Audi, Toyota, Management, P Locations: China, That's, U.S, Hong Kong, Beijing, Thursday's, Germany, eyeing, Shanghai, Chengdu
Person's hand holding bottle of California Lager from Anchor Brewing Company, maker of Anchor Steam Beer, Lafayette, California, July 12, 2023. A spokesperson for the Brewers Association, which represents more than 5,400 brewers, distributors and craft beer retailers, said the trade group doesn't normally, by policy, comment on the opening or closing of any beer company. But the impending closure of Anchor Brewing — an iconic San Francisco staple as famous as sourdough bread, Ghirardelli Chocolate or Rice-A-Roni — prompted it to offer a heartfelt eulogy. "Anchor's contributions to craft brewing and American beer history cannot be overstated," chief economist Bart Watson said in a statement. Anchor Brewing was purchased in 2017 by Sapporo U.S.A. A representative for the company couldn't immediately be reached for comment Wednesday.
Persons: Smith, Sam Singer, Singer, Roni —, Bart Watson, Watson, couldn't Organizations: California Lager, Anchor Brewing Company, Steam, Brewing, NBC News, Brewers Association, Sapporo U.S.A Locations: California, Lafayette , California, San Francisco, Potrero Hill
Here’s What Buy Side Staffers Are Buying on Sale for Prime Day
  + stars: | 2023-07-11 | by ( ) www.wsj.com   time to read: +13 min
Here are products on sale that our team members are buying themselves—or already own and can highly recommend—during this year’s two-day Prime event. I’ve set goals to cook more than I eat out or order in to save money and for my health goals, so I’ll be purchasing this All-Clad cookware set this Prime Day for all my cooking needs. The 8-inch version is on sale for Prime Day, coming in at less than $300. Reviewers note that they’re ideal for larger hands.” —Leslie Yazel, editor, head of contentSalon-level styling tool“I bought the Revlon One Step Volumizer styling brush last Prime Day, and it has been a favorite all year. My partner always steals them when we travel, so this Prime Day, I’ll be buying him his own pair while they’re $100 off ahead of our fall wedding-season travels.” —Chao Li, head of product
Persons: what’s, juicer “ I’ve, , Nick Guy, I’ve, ” — Ian Salisbury, AirTag, Brittany Nguyen, Madeline Diamond, Emily Schwartzberg, It’s, ” — Emily Welsh, it’s, ” — Alix Milne, Rina Stone, I’ll, — Caroline Wernecke, Hydrating, — Irma Sahinovic, Astrid Stawiarz, ” — Leslie Yazel, Jessica Woodbury, I’d, Caroline Wernecke, ” — Bellamy Richardson, Bissell, ” — Chao Li Organizations: Side, Timex Men’s Expedition, Revlon, Altos, Colgate, Sony WH, 1000XM4, Sony Locations: France
Disney's ongoing feud with Ron DeSantis is certainly a factor. Ron DeSantis, it's pretty clear that the park's problems run deeper than a political beef. While crowd sizes are down in the US parks, revenue is up at international Disney parks such as Disneyland Hong Kong. Despite the DeSantis dust-up, the park's biggest issue has nothing to do with politics — Disney World is damn expensive. Ron DeSantis Paul Hennessy/SOPA Images/LightRocket via Getty ImagesIt's also clear that a cut back on vacationing is not the issue.
Persons: Ron DeSantis, Disney execs, Li Zhihua, execs, DeSantis, , Ron DeSantis Paul Hennessy, Courtney Garcia, Garcia, Samantha Delouya, Bob Iger Organizations: Disney, Service, Walt Disney, Florida Gov, Wall Street Journal, Hollywood Studios, Shanghai Disney Resort, Hong Kong Disneyland, China News Service, — Disney, Getty, TSA, Payne Capital Management Locations: Wall, Silicon, Magic, Shanghai, Paris, Hong, Hong Kong, Florida
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