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☆ China's bragging about being the first to build a next-generation nuclear reactor. Here's how it compares to reactors in countries like the US, Japan, and Russia.
▼ + stars: | 2023-12-07 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

China on Wednesday said the Shidaowan nuclear reactor is officially contributing to the power grid. AdvertisementChina on Wednesday announced that it's started commercial operations at the world's first next-generation nuclear reactor. AdvertisementThe Fukushima plant in Japan had six reactors producing 4.69 gigawatts, while Russia's BN-1200 reactor in Beloyarsk produces 1,200 megawatts. But it's already missed its 2020 target of producing 58 gigawatts with nuclear reactors, instead producing 53 gigawatts. Nuclear reactors in the US can generate up to 95.86 gigawatts of electricity, per the IAEA.

Persons: —, it's, It's Organizations: Service, Wednesday, Tsinghua University, China National Nuclear Corporation, National Energy Administration, Russia's, Xinhua, International Atomic Energy Agency, US, Nuclear Locations: China, Shandong, Port Gibson , Mississippi, Japan, Beloyarsk, Oarai, Fukushima, India

☆ Here are Tuesday's biggest analyst calls: Netflix, Apple, IBM, Coinbase, Nike, Domino's, Meta, Charles Schwab and more
▼ + stars: | 2023-12-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Goldman Sachs reiterates Nike as buy After a transfer of analyst coverage, Goldman Sachs said it sees improving growth for Nike shares. UBS downgrades United Rentals to neutral from buy UBS said in its downgrade of the equipment rental company that it sees a more balanced risk/reward. UBS reiterates Apple as neutral UBS said its analysis of Apple's App Store shows revenue increasing. UBS reiterates Netflix as buy UBS said it's standing by its buy rating on Netflix shares after hosting the company at a conference. William Blair reiterates Charles Schwab as outperform William Blair named Schwab a top pick for 2024, noting it's well-positioned.

Persons: Raymond James, Piper Sandler downgrades Albemarle, Piper Sandler, it's, Goldman Sachs, Roth, Roth MKM, TD Cowen, Bernstein, Mizuho downgrades Prologis, Wells, Wells Fargo, Oppenheimer, Domino's, Elliott, Morgan Stanley, Meta, Needham, Coinbase, JPMorgan, Raymond James downgrades Lululemon, LULU, Strong, William Blair, Charles Schwab, Schwab Organizations: Crescent Energy, Energy Company, Eagle Ford, UW, Nike, Bank of America, UBS, Credit Suisse, Yale, HY, United Rentals, Apple, Semiconductors, JPMorgan, IBM, Consulting, Mizuho, Marriott, of America, Netflix, Management, Integra, Financial, ISI, Disney, BR, Cargo Therapeutics, Citi, Travere Therapeutics Locations: Houston, Uinta, Eagle, LTHM, 2024E, 2025E, Argentina, Boston, China, Mexican

☆ 4 tech leaders on where 5G is taking their industries next
▼ + stars: | 2023-12-05 | by ( Chris Stokel-Walker | ) www.businessinsider.com time to read: +6 min

But the potential of 5G technology could be enormous and a major boon to businesses, tech leaders told Business Insider. She added that nearly 20 countries around the globe still lacked 4G connectivity but could be brought up to date using 5G. "5G, and specifically private 5G, is acting as a catalyst that is driving customers toward change," he said. "Currently, the site showcases IoT connectivity, edge analytics, and predictive analytics to drive sustainability and energy efficiency on a private 5G network," Sandhu said. Alongside Schneider Electric, NTT has customers including Frankfurt Airport (Europe's largest private 5G network) and the city of Las Vegas (the largest private 5G network in the US) signing up to develop private 5G and edge-computing capabilities.

Persons: Marga Hoek, Hoek, Matt Cranfield, Andy Lindsell, Lindsell, Parm Sandhu, NTT Ltd . Sandhu, Sandhu Organizations: Accenture, Business, Tech, Cranfield, NTT Ltd, NTT Ltd ., 5G, Schneider Electric, NTT, Frankfurt Locations: Marga Hoek Hoek, Lexington , Kentucky, Las Vegas

☆ McDonald's raises China bet, bucking Western firms' derisking trend
▼ + stars: | 2023-12-04 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +4 min

[1/5] A woman sits on a swing attached to a giant sign of McDonald's, outside its themed exhibition in Beijing, China December 4, 2023. One advantage for McDonald’s: its majority partner in the China business, CITIC, provides top-level political cover, said Jason Yu, greater China managing director of market research firm Kantar Worldpanel. McDonald's China, Carlyle Group and CITIC declined to comment. Other consumer-facing U.S. firms, including Starbucks (SBUX.O), Apple (AAPL.O), Coach owner Tapestry (TPR.N) and sportswear giant Nike (NKE.N), have remained similarly dedicated to the China market. Although the McDonald's China menu would be familiar to U.S. consumers, there are nods to local tastes, including taro pie, rather than apple.

Persons: Tingshu Wang, McDonald's, Jason Yu, Kantar, Yu, Carlyle, Wallace, Greg, Euromonitor, Ben Cavender, Casey, Kane Wu, Deborah Sophia, Gerry Doyle Organizations: REUTERS, Rights, Group, Carlyle Group, Starbucks, Apple, Nike, Research, Investment, China Market Research, Casey Hall, Thomson Locations: Beijing, China, U.S, Hong Kong, Macau, Yum China, Russia, Shanghai, Bengaluru

☆ A new era for the market means a new way to think about investing
▼ + stars: | 2023-12-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe market volatility in the wake of the pandemic gave people visions of getting rich overnight, but true investing is a long-term play. As a result, a new market regime means new investing strategies will be necessary, James and Will write. Setting aside recency bias, it's been relatively easy to generate good returns in the market over the past 10 years. AI names may have commanded the market's attention lately, but another corner of the market is seeing impressive gains: stocks tied to digital assets.

Persons: —, Liam Eisenberg, Insider's James Faris, Will Edwards, Let's, James, Will, Spencer Platt, that's, Arantza Pena Popo, bitcoin, Alyssa Powell, Prasad Kalyanaraman, Cybertruck, Elon Musk's Cybertruck, Jay, Tyra Banks, Blake Snell, Thomas Carlyle, I'd, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Business, Getty, Marathon Digital, Oxford Dictionary Locations: America, Europe, EU, New York City, San Diego, London, New York

☆ Asia shares turn mixed, gold tops $2,100 an ounce
▼ + stars: | 2023-12-04 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was still up 0.4%, led by gains in South Korea and Australia. Trade figures for China are due later in the week with the recent trend being softening exports to the U.S. overshadowing gains in Asia. S&P 500 futures dipped 0.1%, after finishing at a 20-month high on Friday, while Nasdaq futures lost 0.2%. The dive in yields and the dollar has been a boon for non-yielding gold, which added 0.9% to $2,088 an ounce, after hitting a record of $2,111.39 an ounce . Oil prices have not been so fortunate, amid doubts OPEC+ will be able to maintain planned output cuts.

Persons: Goldman Sachs, Jerome Powell, Claudio Irigoyen, Joachim Nagel, Christine Lagarde, Brent, Wayne Cole, Sam Holmes Organizations: Nikkei, payrolls Shipping, Japan's Nikkei, FTSE, Nasdaq, Federal Reserve, Bank of Japan's, European Central Bank, ECB, Sea, Thomson Locations: Red Sea, SYDNEY, U.S, Israel, Red, Asia, Pacific, Japan, South Korea, Australia, China, Canada

☆ Why Pfizer's latest stumble in the obesity market is a boon for Eli Lilly
▼ + stars: | 2023-12-01 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

In June, the New York-based pharmaceutical giant stopped developing a different obesity pill, known as lotiglipron , due to concerns about liver safety. Meanwhile, Eli Lilly shares were mainly flat in afternoon trading, at around $591apiece. We lifted our Eli Lilly price target Friday to $630 per share, up from $600. Eli Lilly and Danish rival Novo Nordisk (NVO) are the two dominant players in the obesity market. The longer it takes for competitors to get to this burgeoning market, the more revenue first-movers Eli Lilly and Novo Nordisk can capture.

Persons: Eli Lilly, Jim Cramer, Lilly's, Novo's, Jim, Eli Lilly —, —, Eli, that's, — Novo's, Novo, semaglutide, Jim Cramer's, AJ Mast Organizations: Pfizer, Club, Novo Nordisk, Pharmaceutical, Amgen, AstraZeneca, Bank of America, U.S . National Library of Medicine, U.S . Food, Drug Administration, CNBC, Bloomberg, Getty Locations: New York, Danish, Lilly, U.S, Indianapolis , Indiana

☆ Some OpenAI employees are still feeling uneasy and looking for other jobs despite Sam Altman's return, report says
▼ + stars: | 2023-11-30 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Sam Altman is back in charge of OpenAI but some employees are still feeling nervous, per Semafor. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementOpenAI's CEO Sam Altman may be back in charge but some employees are still feeling uneasy. According to one of the outlet's sources, rival AI company Cohere has received several inquiries from OpenAI employees in recent days. AdvertisementAI companies Hugging Face and Cohere told CNBC they've had more customer inquiries following Altman's ousting and reinstatement as CEO.

Persons: Sam Altman, —, Semafor, Altman, We've, Sam, Cohere, Marc Benioff, Salesforce's Einstein, CNBC they've, Clément Delangue, OpenAI Organizations: Service, Salesforce's, CNBC Locations: OpenAI

☆ Amazon wants businesses to use its palm-scanning tech to let employees into the office
▼ + stars: | 2023-11-28 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon is expanding its palm-scanning technology beyond grocery stores and is rolling out a version that's designed for the business world. Companies already signed up for the biometric technology include IHG Hotels and Resorts, turnstile manufacturer Boon Edam, and Kone, an escalator and elevator provider. Amazon didn't disclose pricing for the service, which is available in preview in the U.S. starting Monday. Advocacy groups have criticized the service over privacy and security concerns, arguing it leads to increased surveillance. Earlier this month, Amazon debuted Astro for Business, a version of its household robot that it's framing as a roving security guard for businesses.

Persons: Edam, Kone, Dilip Kumar, It's Organizations: Companies, Resorts, Amazon, Foods, Sports, Business Locations: U.S

☆ Morning Bid: Markets turn risk-averse after bumper month
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Staff Acquire Licensing RightsA look at the day ahead in European and global markets from Wayne Cole. Most regional share markets are modestly lower, as are Wall Street and European futures. Data on EU inflation is also due Thursday, along with measures for Germany and Spain. Core EU inflation is forecast at 3.9%, the lowest since the middle of last year. If realised, this will support market wagers of no more rate hikes, and policy easing in 2024.

Persons: Wayne Cole, Asia, hasn't, Brent, Jerome Powell, Christine Lagarde, Edmund Klamann Organizations: REUTERS, Staff, Treasury, China PMI, Japan's Nikkei, Federal, Core, Fed, ECB, European Central Bank, EU, Economic, Monetary Affairs, Parliament, CBI, Thomson Locations: Frankfurt, Germany, Wayne, China, Saudi Arabia, Spain

☆ E-commerce stocks rally after Black Friday shoppers spend record online
▼ + stars: | 2023-11-27 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Shoppers turned out in full force on Thanksgiving and over the Black Friday weekend, largely shunning physical stores for the comfort of clicking "buy online" from their couches. Black Friday online spending reached a record $9.8 billion in the U.S., up 7.5% from a year earlier, according to Adobe Analytics. Online sales on Cyber Weekend, the days between Black Friday and Cyber Monday, surged 7.7% to $10.3 billion. Cyber Monday sales are expected to reach up to $12.4 billion, making it the biggest U.S. online shopping day of the year, according to Adobe. A plastic rice washing bowl, listed as one of the top-selling Cyber Week items, is discounted 68% to $1.89 with free shipping.

Persons: Shoppers, Wayfair, Afterpay, Klarna, Sebastian Siemiatkowski, Siemiatkowski Organizations: Adobe Analytics, Black, Adobe, National Retail Federation, CNBC PRO Locations: U.S

☆ BetMGM's CEO describes his strategy to hold onto its No. 3 spot in US sports betting as Fanatics and ESPN Bet circle
▼ + stars: | 2023-11-27 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +6 min

BetMGM CEO Adam Greenblatt knows Fanatics and ESPN Bet are looking to eat his lunch. However, it has lost some ground, hovering around 15% market share in the third quarter compared to about 20% a year earlier. And a new crop of competitors including Fanatics and Penn Entertainment's ESPN Bet are vying for its position. "Everyone's kind of fighting for that third and fourth spot," Macquarie gambling analyst Chad Beynon told Business Insider in September. Online casino gaming, also known as igaming, is legal in only a handful of US states and has expanded slower than legal sports betting.

Persons: Adam Greenblatt, BetMGM, Penn, Macquarie, Chad Beynon, Greenblatt, We've, we're, Entain, we've, we'll, " Greenblatt, it's Organizations: ESPN Bet, Krejcik, MGM Resorts, Business, BI, MGM, Detroit Lions Locations: North America, Borgata's, Atlantic City, Michigan

☆ Biden Trade Policy Breaks With Tech Giants - The New York Times
▼ + stars: | 2023-11-27 | by ( Farah Stockman | ) www.nytimes.com time to read: +3 min

“We have warned for years that either the United States would write the rules for digital trade or China would,” Senator Mike Crapo, a Republican from Idaho, lamented in a press statement. That paper explains how U.S. trade officials came to champion a digital trade policy agenda that was nearly identical to what Google, Apple and Facebook wanted: No restrictions on the flow of data across borders. No laws that would curb monopolies or encourage more competition — a position that is often cloaked in clauses prohibiting discrimination against American companies. Many smaller tech companies complain that big players engage in monopolistic behavior that should be regulated. A group of smaller tech companies called the Coalition for App Fairness thanked Ms. Tai for dropping support for the so-called tech-friendly agenda at the World Trade Organization.

Persons: Mike Crapo, Biden, Tai, Wendy Li, Ms, Li, Henry Gao Organizations: Republican, Facebook, Google, University of Wisconsin, Trump, Microsoft, Apple, Coalition, World Trade Organization Locations: China, United, Idaho, Madison, United States, Mexico, Canada, Washington, Singapore

☆ Rate cuts are likely coming next year, but investors shouldn't bank on them saving the market
▼ + stars: | 2023-11-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at why the rate cuts investors have been praying for might not be the godsend they imagined. But rate cuts won't necessarily be the win markets are hoping for, Business Insider's Jennifer Sor writes. Still, some interest rate traders are predicting rate cuts coming as soon as this March, according to CME's FedWatch Tool. Another key piece of the economy facing headwinds complicates the case for rate cuts being a boon for investors.

Persons: —, I've, we're, Patrick Semansky, Jennifer Sor, CME's, Jennifer, Insider's Dominick Reuter, Miles Goodloe, Domenic, Robert Oszust Jr, Domenic Boresta, Alice Brooks, Jennifer Campbell, Sean Jacobsohn, he's, Jacobsohn, Chelsea Jia Feng, They're, it's, Gen, Bradley Cooper, Ben Affleck, Greta Gerwig, Bill, Bill —, Bill Nye, Science Guy, Manolo Blahnik, Jimi Hendrix, Steve Bannon, Bruce Lee, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Tech, Business, Federal Reserve, Fed, UBS, Big Tech, Retail, Walmart, Target, Financial Times, Echo, Khosla Ventures, Science Locations: Washington, Miles, Chelsea, New York City, San Diego, London, New York

☆ Gen Z, millennials are ‘house hacking’ to become homeowners in a tough market. How the strategy can help
▼ + stars: | 2023-11-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Gen Z and millennials are "hacking" the housing market as high prices and interest rates make affordability difficult. The term "house hacking" refers to the practice of renting out a portion of your home or an entire property for an additional stream of income. Almost 4 in 10, 39%, of recent homebuyers say the practice represents a "very" or "extremely" important opportunity, according to a new report by housing market site Zillow. In Zillow's survey, more than half of millennial, 55%, and Gen Z home buyers, 51%, expressed positive views on house hacking. The average rate for 30-year mortgages hit 8% in October, the highest level seen in 23 years, according to Bankrate.

Persons: Z, Gen, Zillow, homeownership, Manny Garcia Organizations: Finance, Homebuyers Locations: U.S

☆ Millennials are the reason you can still work remotely
▼ + stars: | 2023-11-26 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Millennials are powering the continued remote work boom, and are more likely to be remote. While Gen Zers and boomers want to go in, millennials are opting to work from home. Going into the office is a desire that cuts across generational lines, unifying groups that aren't often in alignment: Gen Zers, Gen Xers, and boomers. That data paints a clearer picture of how remote work has created new segments of workers. Of course, remote work has been life-changing for some .

Persons: Gen Zers, —, Nick Bloom, Zers, Gen Xers, Bloom, José María Barrero, Steven J, Davis, Stanford, Charles Bond Organizations: Service, Stanford, People, Workers Locations: Southern California, Plenty

☆ NASA mission achieves most distant demo of laser communications across space
▼ + stars: | 2023-11-24 | by ( Ashley Strickland | ) edition.cnn.com time to read: +7 min

CNN —An innovative experiment flying aboard NASA’s Psyche mission just hit its first major milestone by successfully carrying out the most distant demonstration of laser communications. The tech demo was designed to be the US space agency’s most distant experiment of high-bandwidth laser communications, testing the sending and receiving of data to and from Earth using an invisible near-infrared laser. NASA/JPL-CaltechIt’s not the first time laser communications have been tested in space. The first test of two-way laser communication occurred in December 2021 when NASA’s Laser Communications Relay Demonstration launched and went into orbit about 22,000 miles (35,406 kilometers) from Earth. And the Artemis II spacecraft will use laser communications to return high-definition video of a crewed journey around the moon.

Persons: Psyche, DSOC, Hale, ”, Trudy Kortes, Meera Srinivasan, Artemis, DSOC won’t, Jason Mitchell Organizations: CNN, NASA, Optical Communications, California Institute of Technology’s, Jet Propulsion Laboratory, JPL, Caltech, Space Technology, Psyche’s, Hale, DSOC, NASA’s, Advanced Communications, Navigation Technologies, NASA’s Space Communications Locations: Pasadena , California, DSOC, Wrightwood , California

☆ CNBC Daily Open: A Thanksgiving lull
▼ + stars: | 2023-11-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

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. Last burst before a breakU.S. stocks ended Wednesday in positive territory before going on break today for Thanksgiving. Jack Ma pauses plansAlibaba founder Jack Ma is pausing his plans to sell Alibaba shares. Last week, regulator filings revealed Ma was looking to sell around $870 million worth of Alibaba shares.

Persons: Treasurys, Europe's, Jeremy Hunt, Altman's, Sam Altman, Helen Toner, Tasha McCauley, Ilya Sutskever —, Altman, Bret Taylor, Larry Summers, Adam D'Angelo, Nansen, hasn't, Changpeng Zhao, Jack Ma, Ma, Alibaba Organizations: New York Stock Exchange, CNBC, Finance, U.S, Treasury Locations: New York City, U.S

The 2022 climate law has accelerated investments in clean-energy projects across the United States. It has also delivered financial windfalls for big banks, lawyers, insurance companies and start-up financial firms by creating an expansive new market in green tax credits. The law, signed by President Biden, effectively created a financial trading marketplace that helps smaller companies gain access to funding, with Wall Street taking a cut. The law created a wide range of tax incentives to encourage companies to produce and install solar, wind and other low-emission energy technologies. But the Democrats who drafted it knew those incentives, including tax credits, wouldn’t help companies that were too small — or not profitable enough — to owe enough in taxes to benefit.

Persons: Biden Locations: United States

☆ CNBC Daily Open: Back to square one?
▼ + stars: | 2023-11-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on November 15, 2023 in New York City. 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. There's also a board reshuffle, with Bret Taylor, former co-CEO of Salesforce and Larry Summers, former U.S. Treasury secretary, joining. Separately, OpenAI researchers reportedly warned the board of an AI breakthrough ahead of Altman's ouster.

Persons: Treasurys, Australia's, Sam Altman, There's, Bret Taylor, Larry Summers, Nansen, hasn't, Changpeng Zhao, Morgan Stanley Organizations: New York Stock Exchange, CNBC, Nikkei, U.S, Treasury, Counterpoint Research Locations: New York City, U.S, Asia, Pacific, Middle East, Africa, China, India

☆ CNBC Daily Open: Nvidia tripled its revenue. Investors weren’t impressed
▼ + stars: | 2023-11-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

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. Nvidia's revenue tripledNvidia's fiscal third-quarter revenue grew 206% year on year to $18.12 billion, handily beating expectations, and net income rocketed from $680 million to $9.24 billion. Moreover, Nvidia expects revenue for the current quarter to increase to $20 billion, an implied 231% growth. Richard Teng, the company's former global head of regional markets, will be Binance's new CEO, said Zhao in a post on X, formerly Twitter.

Persons: Colette Kress, CZ, Changpeng Zhao, Richard Teng, Zhao Organizations: CNBC, Nvidia, Federal, Japan's Nikkei, China's, U.S . Department of Justice, Hamas, U.S, Bank of America Locations: China, Asia, Pacific, China's Shanghai, U.S, Israel, Europe

☆ CNBC Daily Open: Nvidia’s astounding earnings might not move markets
▼ + stars: | 2023-11-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

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. Nvidia's revenue tripledNvidia's fiscal third-quarter revenue grew 206% year on year to $18.12 billion, handily beating expectations, and net income rocketed from $680 million to $9.24 billion. Moreover, Nvidia expects revenue for the current quarter to increase to $20 billion, an implied 231% growth. Fed officials also project economic growth in the fourth quarter to "slow markedly" from last quarter's 4.9% increase in gross domestic product.

Persons: Colette Kress, Binance's CZ, Changpeng Zhao, Richard Teng, Zhao Organizations: CNBC, Nvidia, Federal, Auto, European Union, European Automobile Manufacturers ' Association, Binance's, U.S . Department of Justice, Bank of America Locations: China

China, the world's second-largest economy, is already a major investor in South America and has offered tariff-free access to its huge consumer market to four countries. But Uruguay faces opposition from other members of the Mercosur bloc who want to settle an FTA with Europe instead. By comparison, other major beef exporters Australia and New Zealand, which have FTAs with China, pay tariffs at 3.3% and 0%. The elevation of ties with Uruguay to the level of Brazil and Argentina also pushes the remaining Mercosur member Paraguay further outside China's global trade and investment network. Agriculture-dependent Paraguay, whose main exports include beef and soybeans, is the last South American nation that has ties with democratically governed Taiwan, which China claims as part of its territory, and not with Beijing.

Persons: Xi Jinping, Luis Lacalle Pou, Florence Lo, Lacalle Pou, Xi, Joe Cash, Ryan Woo, Ella Cao, Toby Chopra, Raju Gopalakrishnan, Chizu Nomiyama, Alexander Smith Organizations: Uruguayan, of, People, REUTERS, New Development Bank BEIJING, Mercosur, South, Nations, New Development Bank, China, United, Mercosur CET, National Meat Institute of, China's National Bureau of Statistics, Thomson Locations: Beijing, China, Uruguay, Argentina, Brazil Mercosur, American, Brazil, South America, Chile, Costa Rica, Ecuador, Peru, Europe, Australia, New Zealand, Shanghai, United States, MERCOSUR Uruguay, Brussels, Montevideo, Mercosur, National Meat Institute of Uruguay, Paraguay, Taiwan

☆ Dollarization will provide an 'incredible boost' to Argentina's economy, veteran emerging-markets investor says
▼ + stars: | 2023-11-22 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

A plan by Argentina's president-elect to dollarize the economy won the backing of Mark Mobius. The veteran emerging-market investor said the currency shift would be an "incredible boost" for the economy. The comments from the veteran emerging-market investor come after Javier Milei won Argentina's presidency over the weekend, bringing his dollarization plans a step closer to reality. Dollarization critics have warned that a sudden currency switch could trigger a recession, citing a shortage of dollar reserves at Argentina's central bank. AdvertisementMobius also warned that the current condition of Argentina's economy has made investing there difficult.

Persons: Mark Mobius, —, Javier Milei, Milei, Mobius, Milei's, it's Organizations: Service, Bloomberg, Argentina's, Mobius, Federal Reserve Locations: Argentina, Argentina's

☆ CNBC Daily Open: Microsoft and Nvidia hit all-time highs
▼ + stars: | 2023-11-21 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

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. New high for Nvidia Nvidia shares popped 2.25% to close at an all-time high of $504.09 , ahead of the chipmaker's earnings report today. All the turmoil at OpenAI over the weekend turned out pretty well — for Sam Altman and Microsoft , at least. The appointment sent Microsoft shares to a new high.

Persons: Cash, Andy Budden, Sunac, it's, Sam Altman, Altman's, Dan Ives, Ives, Altman, Brockman, we've, — CNBC's Sophie Kiderlin Organizations: CNBC, Capital Group, Nvidia Nvidia, Nvidia, Microsoft, Wedbush Securities, Nadella, Dow Jones, Nasdaq

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