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☆ India rules out joining world’s largest trade deal, accuses China of 'very opaque' trade practices
▼ + stars: | 2024-09-23 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Anadolu | Anadolu | Getty ImagesIndia's commerce minister rejected the idea of joining the Regional Comprehensive Economic Partnership, the world's largest trade deal, maintaining that it is not in the country's interest to be part of a free trade agreement with China. Negotiations for the RCEP started in 2013 and initially included India, which some members viewed as a counterbalance to China. However, in 2019, India chose not to join RCEP, citing unresolved "core interest" issues. Goyal noted that at that time, India already had a free trade agreement with ASEAN, Japan and Korea, as well as a bilateral trade with New Zealand worth $300 million. "It was not in our farmers' interest, RCEP did not reflect the aspirations of our small and micro medium industries and sector, and in some form, was nothing but a free trade agreement with China," he said.

Persons: Industry Piyush Goyal, CNBC's Tanvir Gill, Goyal, RCEP Organizations: Anadolu, Getty, Regional Comprehensive Economic, ASEAN, Commerce, Industry, —, Association of Southeast Asian Nations, RCEP, New Zealand, Trade, Semiconductor Locations: China, India, Asia, South Korea, Japan, Australia, New Zealand, Korea

☆ European stocks poised to start the week positively as markets remain buoyed by Fed cut
▼ + stars: | 2024-09-23 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

LONDON — European stocks are expected to start the week in positive territory as global markets continue to react positively to the U.S. Federal Reserve's interest rate cut last week. The U.K.'s FTSE index is seen opening 46 points higher at 8,245, Germany's DAX up 87 points at 18,810, France's CAC 40 up 40 points at 7,359 and Italy's FTSE MIB up 169 points at 33,821, according to data from IG. Global markets continue to trade higher following the Fed's 50-basis-point cut last week, its first cut in four years. Asia-Pacific markets were mostly higher overnight as investors digested monetary policy decisions from Japan and China as well as the Fed's sharp cut. Dow futures were near flat Sunday night after enthusiasm for last week's interest rate cut propelled the blue-chip index to a record closing level.

Persons: Germany's DAX Organizations: U.S, CAC, IG, Global, Dow Locations: U.S . Federal, Asia, Pacific, Japan, China

☆ Asia-Pacific markets open lower after Federal Reserve rate cut optimism sent markets higher last week
▼ + stars: | 2024-09-23 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

A Chinese flag in Pudong's Lujiazui Financial District in Shanghai, China, on Sept. 18, 2023. Asia-Pacific markets opened lower Monday as investors assessed monetary policy decisions from Japan and China on Friday after U.S. Federal Reserve's sharp rate cut sent markets higher last week. Despite growing calls for lower interest rates, the People's Bank of China unexpectedly left its key benchmark rate on hold on Friday. The Reserve Bank of Australia starts its two-day policy meeting on Monday, where central bankers will decide on the country's monetary policy path on Tuesday. Overall year-on-year CPI is expected to have cooled to 2.15%, compared to 2.40% the previous month

Organizations: National Bureau of Statistics, People's Bank of China, Reserve Bank of Australia Locations: Lujiazui, Shanghai, China, Asia, Pacific, Japan, Federal, Singapore

☆ Cebu Pacific president discusses new routes and order of 152 Airbus jets
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCebu Pacific president discusses new routes and order of 152 Airbus jetsXander Lao, president and chief commercial officer of the Philippine airline, outlines its expansion plans.

Persons: Xander Lao Organizations: Email Cebu Pacific Locations: Philippine

☆ Cathay Pacific bans couple after seat-reclining spat
▼ + stars: | 2024-09-23 | by ( Jack Guy | ) edition.cnn.com time to read: +4 min

CNN —Hong Kong-based airline Cathay Pacific has banned two passengers from its flights after an argument over seat-reclining etiquette descended into xenophobic insults. People from Hong Kong speak mainly Cantonese, whereas mainland Chinese mainly speak Mandarin. However, Cathay, Hong Kong’s flag carrier, has got into hot water with Chinese authorities in the past. In a statement announcing the dismissals, Cathay Pacific CEO Ronald Lam said he would personally lead a task force to improve service and avoid similar incidents in the future. “We need to ensure that all Cathay Pacific employees must at all times respect customers from different backgrounds and cultures, and that we provide quality services consistently across all markets that we serve,” he said.

Persons: ”, ’, “, Hong Kongers, Ronald Lam, CNN’s Michelle Toh, Shawn Deng Organizations: CNN, Cathay Pacific, Cathay, Cathay Group, Hong Locations: Hong Kong, London, China, Cathay Pacific, Hong, Cathay, Hong Kong’s

☆ American Companies' China Profits Are Declining; Increased War Chance
▼ + stars: | 2024-09-22 | by ( Linette Lopez | ) www.businessinsider.com time to read: +15 min

Without the promise of profits, American firms are also becoming less willing to go to bat for China — to reinforce the idea that China's market is crucial to the success of their futures. No demandAfter pandemic lockdowns ended in 2023, the Chinese economy experienced what is known on Wall Street as a "dead cat bounce." What money Chinese consumers are still able to spend is increasingly going to companies that grew up in their home country. Related storiesWhat money Chinese consumers are still able to spend is increasingly going to companies that grew up in their home country. It gives corporations, already under financial pressure as China's economy declines, even less reason to act as interlocutors encouraging stability between Washington and Beijing.

Persons: Washington —, Xi Jinping, Lee Miller, lockdowns, They're, Xi, Yi Gang, Michael Pettis, Tesla, Elon Musk, it's, Ball, Jamie Dimon, It's, China's, Goldman Sachs, Ray Dalio, seeping, Miller, Kamala Harris, Donald Trump, Harris, —, Trump, Biden, we're, Cordell Hull Organizations: Apple, Nike, Chinese Communist Party, People's Bank of, Carnegie Endowment, China Business Council, Starbucks, Street, Bridgewater Associates, Beijing, East Asia State Department, CCP, Trump, State Department, Republicans, Financial, Broadcom, Nvidia, Biden Administration Locations: China, America, Beijing, Washington, American, South China, Taiwan, People's Bank of China, Shanghai

☆ Quad group expands maritime security cooperation at Biden's farewell summit
▼ + stars: | 2024-09-22 | by ( ) www.cnbc.com time to read: +5 min

US Secretary of State Antony Blinken (R) prepares to pose for a group photo with Australia's Foreign Minister Penny Wong (2nd R), Japan's Foreign Minister Yoko Kamikawa (2nd L) and India's Foreign Minister Subrahmanyam Jaishankar (L) at the start of their Quad Ministerial Meeting at the Iikura Guest House in Tokyo on July 29, 2024. The leaders announced joint coast guard operations next year that will include Australian, Japanese and Indian personnel spending time on a U.S. coast guard vessel. The leaders' joint statement included sharp language about North Korea, condemning its ballistic missile launches and "malicious cyber activity." "But I think China's recent maritime aggression could be changing the equation for India and could be prompting India to become a bit more open to the idea of Quad security cooperation," she said. Before the summit, Albanese met with Biden at his home and discussed bilateral cooperation between the two close allies across defense and security, including in the Indo-Pacific.

Persons: Antony Blinken, Penny Wong, Yoko Kamikawa, Subrahmanyam Jaishankar, Joe Biden, Biden, Fumio Kishida, Narendra Modi, Anthony Albanese, Xi Jinping, he's, Lisa Curtis, Kishida, Modi, Albanese, Donald Trump, Kamala Harris Organizations: Australia's Foreign, Japan's, India's, of, Indian, Australian, Pacific Partnership, Maritime Domain, House, Analysts, East China Seas, East China, U.S, China, Center, New, New American Security, congressional Locations: Tokyo, of Australia, India, Japan, United States, China, Delaware, U.S, Beijing, South China, South, East, Taiwan, Philippines, Brunei, Malaysia, Vietnam, North Korea, Islands, Southeast Asia, Asia, New American, Australia, Philadelphia

Senior Biden administration officials told reporters ahead of the meeting that the leaders would announce plans to expand an Indo-Pacific Partnership for Maritime Domain Awareness, launched two years ago to include the Indian Ocean region. Analysts said the expected outcomes would mostly build on work that has already been done within the Quad, which Biden elevated to summit level in 2021. It is true in the South China Sea, the East China Sea, South China, South Asia and the Taiwan Strait,” Biden continued. “But I think China’s recent maritime aggression could be changing the equation for India and could be prompting India to become a bit more open to the idea of Quad security cooperation,” she said. Albanese told reporters on Thursday that Canberra and Washington share concerns about China’s security ambitions in Pacific islands countries where Beijing is seeking a growing policing role.

Persons: Joe Biden, Biden, Anthony Albanese, Narendra Modi, Fumio Kishida, Saturday’s, “, ”, Antony Blinken, he’s, ” Biden, Xi Jinping, Jake Sullivan’s, Sullivan, ” Sullivan, “ It’s, Lisa Curtis, Kishida, “ We’re, Donald Trump, Kamala Harris, Albanese, “ We’ll Organizations: United States, Australian, Anthony Albanese , Indian, Japanese, Biden, Pacific Partnership, Maritime, Indian, U.S . Coast Guard, Journalists, China’s, People’s Republic of China, Analysts, East China Seas, Center, New, New American Security, White House, CIA, State Department, congressional Locations: Australia, India, Japan, China, Anthony Albanese ,, Wilmington , Delaware, Southeast Asia, South China, East China, South Asia, Taiwan Strait, People’s Republic of, South, East, Beijing, Asia, New American, U.S, Canberra, Washington, Pacific

☆ Boeing machinists on picket lines prepare for lengthy strike: 'I can last as long as it takes'
▼ + stars: | 2024-09-21 | by ( Leslie Josephs | ) www.cnbc.com time to read: +7 min

Matt Mills Mcknight | ReutersRENTON, Wash. — Cash-strapped Boeing is facing mounting costs from an ongoing machinist strike as workers push for higher pay. The financial cost of the strike on Boeing depends on how long it lasts, though ratings agencies have warned that the company could face a downgrade if it drags on too long. Boeing 737 Max planes sit at the airport in Renton, Washington. Boeing Machinists union members count votes to accept or reject a proposed contract between Boeing and union leaders and whether or not to strike if the contract is rejected, at the Aerospace Machinists Union Hall in Seattle, Washington, on September 12, 2024. Boeing's most recent offer included 25% general wage increases over a four-year deal and was endorsed by the machinists union, the International Association of Machinists and Aerospace Workers District 751.

Persons: Matt Mills Mcknight, Cash, Boeing machinists, Boeing hasn't, Kelly Ortberg, Leslie Josephs, Louis, Jake Meyer, Meyer, Ron Epstein, Jason Redmond, today's, Ortberg, Biden, Pete Buttigieg, CNBC's Organizations: Boeing, Reuters, CNBC, Max, state's, Financial Management, Federal Reserve Bank of St, Bank of America, Aerospace Machinists, Hall, AFP, Getty, International Association of Machinists, Aerospace Workers, Workers Locations: Renton , Washington , U.S, Reuters RENTON, Wash, Seattle, Pacific Northwest, Renton , Washington, Renton, machinists, Washington, South Carolina, Seattle , Washington, Pacific, Oregon

☆ 68-year-old retiree pays $460 a month to live by a lake in Mexico: ‘I found the peace and tranquility I was looking for’
▼ + stars: | 2024-09-21 | by ( Janet Blaser | ) www.cnbc.com time to read: +7 min

There wasn't anywhere else I'd thought about living — until I went to see a friend in Lake Chapala. 'Everything I need is within reach'A friend in Lake Chapala, a seven-hour drive away from Mazatlán, invited me to visit. Part of the allure, for me, of the Lake Chapala area is that it's quite rural. Mickey TodiwalaI hang my laundry to dry on the patio or roof, which could easily be turned into a more usable space. There's a Walmart and a Soriana grocery store nearby, but I prefer to shop at smaller local stores and at the many weekly outdoor markets.

Persons: San Antonio, Mazatlán, I'd, Blaser, Mickey Todiwala, Antonio Tlayacapan, haven't, She's, San Antonio Tlayacapan, I'm, it's Organizations: roosters, Facebook, Home Depot, Costco, Walmart Locations: San, San Antonio Tlayacapan, Mexico, Chapala, Lake Chapala, Mazatlán, Guadalajara, San Antonio, There's

☆ These big shipyards are China's shipbuilding power players and are cranking out new warships at a breakneck pace
▼ + stars: | 2024-09-21 | by ( Chris Panella | ) www.businessinsider.com time to read: +8 min

Read previewIt is no secret that China's shipbuilding capacity is unmatched on the world stage and that its shipyards are churning out new warships at a breakneck pace. China's shipbuilding industry has over 230 times the capacity of the US, according to recent estimates from the Office of Naval Intelligence, representing about 50% of the total global shipbuilding capacity. The shipyards building China's navyDalian is another significant Chinese shipyard and was site of production for the CNS Shandong aircraft carrier. The China Power Project at CSIS has carefully documented developments in Chinese shipbuilding, including work at the yards and new vessels. That push in military shipbuilding is propelled by China's political motivations and blue-water navy goals.

Persons: —, Brian Hart, Matthew Funaoile, It's, it's, Funaoile, Hart, Xi Jinping Organizations: Service, Business, of Naval Intelligence, Jiangnan Shipyard, Liberation Army's, Pentagon, US, PLAN, Shandong, China State Shipbuilding Corporation, Fujian, Wuchang Shipyard, Fujian Maritime Safety, Zhonghua Shipyard, China Power, Center for Strategic, International Studies, CSIS, Airbus, Getty, Communist Party, PLA Locations: Dalian, China, Huangpu Wenchong, Hong Kong, Jiangnan, Hudong, Shanghai, Bohai, Wuchang, Wuhan, Taiwan, Fujian, Zhonghua

BEIJING — Many of Apple’s affluent iPhone users in China are just as interested in Huawei’s pricier trifold phone, CNBC found during spot checks at stores Friday, the day the iPhone 16 and Mate XT launched in the country. The iPhone 16 Pro Max starts at $1,199, and the iPhone 16 at $799. Huawei’s trifold Mate XT starts at the equivalent of more than $2,800. The Apple iPhone 16 Pro Max was selling for 10,500 yuan to 16,300 yuan, the site showed. He said he bought the iPhone 16 because he heard its battery lasted longer, but was willing to wait for the iPhone 17 for any artificial intelligence features.

Persons: pricier, Max, Huawei’s, Yang, Wang, hadn’t Organizations: CNBC, XT, Huawei, Apple, People, Mate Locations: BEIJING, China, . U.S, Beijing, Hefei, Shanghai

☆ NATO chief says alliance has undergone its biggest transformation in a generation but military power has its limits
▼ + stars: | 2024-09-20 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe head of NATO said the alliance has undergone its biggest transformation in a generation, but warned that military power has its limits. Stoltenberg said that since he took on the role in 2014, NATO has been described as "divided, "obsolete," and "braindead," but the reality is that the military alliance is "strong," "united," and "more important than ever." "We have, over these 10 years, undergone their biggest transformation in a generation," he said. However, Stoltenberg also stressed that "military power has its limits," citing NATO's military intervention in Afghanistan after 9/11.

Persons: —, Jens Stoltenberg, Stoltenberg, Mark Rutte, " Stoltenberg Organizations: Service, NATO, German Marshall Fund, Business, UN, International Security Assistance Force, Taliban, Dutch Locations: Brussels, Ukraine, Russia, Afghanistan, Al Qaeda, Resolute, Gaza, Europe, North America

☆ Japan's Nikkei leads gains in Asia Pacific after Wall Street soars on Fed's jumbo rate cut
▼ + stars: | 2024-09-20 | by ( Anniek Bao | In | ) www.cnbc.com time to read: 1 min

A Japanese flag is displayed as shoppers and pedestrians walk past stores at a shopping street in Tokyo, Japan, on Wednesday, Nov. 23, 2016. Asia-Pacific markets opened higher on Friday with Japan's Nikkei 225 leading gains, after Wall Street soared overnight following the Federal Reserve's outsized rate cut. Japan's core consumer prices index climbed 2.8% year on year, in line with Reuters estimates, versus a 2.7% rise in the previous month. The reading will be the last gauge of the economy before the BOJ concludes its two-day monetary policy meeting, where it's expected to keep interest rates unchanged at 0.25%. The Japanese yen was nearly flat at 142.67.

Persons: PBOC Organizations: Japan's Nikkei Locations: Tokyo, Japan, Asia, Pacific

☆ Doomsday Glacier: Scientists looked deep beneath Antarctic ice. What they found could spell disaster
▼ + stars: | 2024-09-20 | by ( Laura Paddison | ) edition.cnn.com time to read: +5 min

The scientists project Thwaites and the Antarctic Ice Sheet could collapse within 200 years, which would have devastating consequences. Photograph of the high cliffs of Thwaites Glacier taken from the British Antarctic Survey Twin Otter aircraft. There is a concern that if Thwaites’ ice shelves collapse, it will leave towering cliffs of ice exposed to the ocean. The Thwaites Glacier in Antarctica NASA/ReutersThat’s not to say Thwaites is safe. The scientists predict the whole of Thwaites and the Antarctic Ice Sheet behind it could be gone in the 23rd Century.

Persons: Thwaites —, Thwaites ’, Rob Larter, Thwaites, ”, Kiya Riverman, Rob Robbins, Julia Wellner, ” Wellner, Reuters That’s, Eric Rignot, “ Organizations: CNN, British Antarctic Survey, University of Portland, University of Houston, El, Antarctica NASA, Reuters, University of California Locations: Antarctica, Miami, London, Bangladesh, Florida, Icefin, Thwaites, Irvine, ITGC

☆ U.S. keeps missile system in Philippines as China tensions rise, tests wartime deployment
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: +3 min

The Typhon system, which can be equipped with cruise missiles capable of striking Chinese targets, was brought in for joint exercises earlier this year, both countries said at the time, but has remained there. China and Russia have condemned the first deployment of the system to the Indo-Pacific, accusing Washington of fueling an arms race. The deployment, some details of which have not been previously reported, comes as China and U.S. defense treaty ally the Philippines clash over parts of the hotly contested South China Sea. Philippine officials said Filipino and U.S. forces continued to train with the missile system, which is on the northern island of Luzon, facing the South China Sea and is close to the Taiwan Strait. A Philippine army spokesman, Colonel Louie Dema-ala, on Wednesday said training was ongoing and it was up to Philippine authorities and the United States Army Pacific to decide how long the missile system would stay.

Persons: Ezra Acayan, Lin Jian, Louie Dema, USARPAC, Ferdinand Marcos Jr Organizations: High Mobility Artillery, Getty, United States Army Pacific, Reuters, Philippine Locations: Philippines, Laur, Nueva Ecija, States, U.S, Asia, Taipei, China, Russia, Washington, Luzon, Taiwan Strait, Philippine

☆ China-Mexico freight traffic surges in Trump, Biden tariff era, as companies find ways to evade U.S. trade war
▼ + stars: | 2024-09-20 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +16 min

Patrick T. Fallon | AFP | Getty ImagesNew data shows a surge in trade between China and Mexico at a time of tough tariff talk during the presidential campaign. This nearshoring of manufacturing enables companies to change a product's origin of goods, also referred to as the "economic nationality" of a product. Data from freight analytics firm Xeneta shows China to Mexico container trade up by 26.2% from January to July 2024, after growing by 33% in 2023. Mexico is also a member of the Pacific Alliance, a trade bloc formed by Mexico, Chile, Colombia, and Peru. "Bilateral tariffs should be expected to lead to trade diversion, and that's exactly what happened in the aftermath of the trade war.

Persons: Patrick T, Fallon, Jordan Dethwart, Mary Lovely, Anthony Solomon, Simon Cohen, Peter Sand, Donald Trump, Trump, John Piatek, Biden, Piatek, Lovely, Moody's, Elon Musk, Musk, Tesla, Sand, Charles Van der Steene, Van der, Mexico —, Freightos, Erica York, York, Tim Robertson, Ian Arroyo, Arroyo, Saul Loeb Organizations: El, El Paso Sector, AFP, Getty, U.S, Companies, Peterson Institute for International Economics, Henco Logistics, European Union, European Free Trade Area, Pacific Partnership, Pacific Alliance, GEP, Motive, BMW, Ford, GM, Kia, gigafactory, Volvo, Pirelli, Michelin North America, Hyundai, SFK USA, Maersk, Bureau of Transportation Statistics, CNBC, United, Pacific, Port, U.S ., ITS Logistics, Tax, DHL Global, Dana, Afp Locations: El Paso, Mexico, New Mexico, Chihuahua, Sunland Park , New Mexico, China, Redwood Mexico, United States, Canada, U.S, Japan, Israel, Latin America, Chile, Colombia, Peru, USA, propping, Laredo , Texas, El Paso , Houston, San Diego, Monterrey, Fremont , California, Austin , Texas, Americas, Mexican, Monterrey . Mexico, East, lading, Maersk North America, Tijuana, El Paso , Texas, Pacific Coast Port, Lazaro, Laredo, Monterrey , California, U.S . West, U.S . East, Gulf, West Coast, Asia, Mexico City, Warren , Michigan

☆ Christie’s CEO discusses new Asia-Pacific headquarters in Hong Kong
▼ + stars: | 2024-09-20 | 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 EmailChristie’s CEO discusses new Asia-Pacific headquarters in Hong KongGuillaume Cerutti, Christie’s CEO, speaks to CNBC's Emily Tan about Christie's new office at The Henderson in Hong Kong.

Persons: Hong Kong Guillaume Cerutti, Emily Tan Locations: Asia, Pacific, Hong Kong

☆ Why a scandal consuming a Trump protégé could harm the ex-president in North Carolina
▼ + stars: | 2024-09-20 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

And Democrats have several times thought North Carolina was ripe to pick off in recent elections — only for it to stubbornly stay red. But his new problems quickly pushed North Carolina even further to the forefront of the presidential race. How Trump can mitigate the damageThe KFile investigation about Robinson landed the Trump campaign with a suddenly breaking crisis. Mark Robinson walks past former President Donald Trump after being introduced at a Trump campaign event in Asheboro, North Carolina, on August 21, 2024. Those 16 electoral votes would open hugely significant possibilities for Harris, but Democrats have seen their hopes dashed in North Carolina before.

Persons: Donald Trump, Mark Robinson, Robinson, MAGA, CNN’s KFile, “ Martin Luther King, Kamala Harris ’, Trump’s, Harris, Trump, — Robinson, Josh Stein, David Plouffe, ”, Barack Obama, —, Joe Biden, Sarah Huckabee Sanders, envelops Trump, she’s, Oprah Winfrey, Chuck Burton, Karoline Leavitt, Biden, ” Leavitt, Margaret Hoover, ” Hoover, CNN’s Erin Burnett, “ MAGA, CNN’s Alayna Treene, Kristen Holmes, Harris The Harris, doesn’t, Carolina’s, Roy Cooper, “ Donald Trump, ” Cooper, Obama, Mitt Romney, Hillary Clinton, Nate Silver, CNN’s Jake Tapper, ” Silver, he’ll Organizations: CNN, Republican, Gov, Trump, White, Trump GOP, Republican Party, Electoral, Democratic, North Carolina, North, Arkansas Gov, Asian Pacific, America, Black, Asheboro, Harris The, NC GOP Locations: North Carolina, Trump, Pennsylvania , Wisconsin, Michigan, House, Springfield , Ohio, New York, Black, Asheville , North Carolina, Carolina, Asheboro , North Carolina, Virginia

☆ A boomer who couldn't afford retirement in the US moved to Ecuador and said she's living an 'upscale life on a modest budget'
▼ + stars: | 2024-09-20 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

She said she went from stressing constantly about retirement to living comfortably, though life is at times lonely. "Between all those things, the result of that wonderful, exciting life was that I didn't save for retirement," Gretchen said. Living comfortably for cheaperWith $3,000 a month and a small brokerage account, Gretchen and her husband live comfortably in Ecuador. Gretchen Kay and her husband live in a newly built condo in Ecuador. In Utah, they paid over $1,000 a year in property insurance and about $1,000 in property taxes.

Persons: Gretchen Kay, Robert, Gretchen, Ecuador Gretchen, wasn't, she's Organizations: Service, Business, Walmart, Social Security, Mayo Clinic, Google Locations: Ecuador, Utah, Canoa, San Vicente, Moab, South America, Peru, Ecuador's, San Diego, Quito, Cuenca

WASHINGTON — While President Joe Biden’s primary residence is still the White House for another few months, he plans to host world leaders at another home this weekend: his house in Wilmington, Del. NBC News is the first to report that he will host those meetings at his Delaware home. Biden first discussed hosting the summit in his hometown after Kishida brought leaders of the G7 alliance to his hometown of Hiroshima in 2023. “The prime minister is rightly very proud of Hiroshima and his experiences there. Biden has also had each prime minister to the White House for an official state visit, an honor reserved for the closest allies.

Persons: Joe Biden’s, Biden, Anthony Albanese, Narendra Modi, Fumio Kishida, ” John Kirby, Kishida, ” Kirby, —, Kamala Harris Organizations: White House, NBC, Archmere Academy, Anthony Albanese , Indian, Japanese, White, National Security Communications, United Nations General Assembly, Economic Cooperation, U.S Locations: WASHINGTON, Wilmington, Del, Australia, India, Japan, Delaware, Anthony Albanese ,, Hiroshima, South China, New York, U.S, Africa, Angola, Asia, Peru, Brazil

TOKYO — A 10-year-old student at a Japanese school in China died Thursday after being stabbed on the way to school the day before, Japanese officials said, as they demanded that Beijing do more to protect Japanese nationals in the country. Lin said the boy was a Japanese national whose parents are Japanese and Chinese citizens. “Effective measures will continue to be taken to ensure the safety of foreigners in China, including people from Japan,” he said. According to the Chinese Foreign Ministry, the student was stabbed on Wednesday about 220 yards away from the Shenzhen Japanese School in the southern Chinese city of Shenzhen. Flags at Japanese diplomatic missions in mainland China and Hong Kong were lowered on Thursday.

Persons: Fumio Kishida, Kishida, ”, “, Philip Fong, Lin Jian, Lin, Yoko Kamikawa, Kamikawa, ” Arata Yamamoto, Rae Wang Organizations: Washington, Foreign Ministry, Chinese Foreign Ministry, Shenzhen Japanese School, Foreign Affairs, Embassy, Weibo Locations: TOKYO, China, Beijing, Japan, U.S, Japanese, Shenzhen, Mukden, Shenyang, Manchuria, Suzhou, Tokyo, Guangzhou, Hong Kong, Asia, Pacific, Chinese, Jilin

☆ ‘Billions’ of golf balls could be lost every year. Where do they end up?
▼ + stars: | 2024-09-19 | by ( Jack Bantock | ) edition.cnn.com time to read: +20 min

Found Golf Balls CEO Shaun Shienfield, whose company recovers and resells millions of lost balls across the US and Canada each year, told CNN that he gauged the average to be between three and four each round. Using Shienfield’s low estimate, that’s over 1.5 billion balls lost in the US every year since 2020. “While precise global estimates are challenging … the worldwide figure could easily exceed 3 to 5 billion golf balls lost each year,” Petersen told CNN. Mitchell Schols, founder of Canada-based Biodegradable Golf Balls, put a “very conservative” estimate for North America at one million balls lost to oceans annually. One UK-based man told CNN in 2015 that he could earn up to £100,000 (about $114,000) annually by diving to retrieve golf balls from lakes on golf courses.

Persons: Woods, Jonathan Ferrey, Shaun Shienfield, Torben Kastrup Petersen, ” Petersen, Loch, Cam Bauer, fairways, Jae C, Paula Gallani, Jack Taylor, Bonifas, Paul Barker, Alex Livesey, Josh Noel, Richard Heathcote, Sam Greenwood, Mohammed Afzal Abdul Afghanistan'shas, Mohammed Afzal Abdul, Shah Marai, Africa's, Alf Caputo, Mi Jung Hur, Michael Cohen, Matthew Savoca, Davis, Alex Weber, Savoca, Weber, Jack Johnston, Ezra Shaw, ” Savoca, “, there’s, ”, Mitchell Schols, Petersen, Kevin C, Cox, Schols, Albus Golf, ” Schols, Jared C, Tilton, “ I’m Organizations: CNN, United States Golf Association, National Golf Foundation, Danish Golf Union, La, Don Mueang International Airport, Getty, Chicago Tribune, Tribune, Service, La Paz Golf Club, AFP, Soviet Army, Kenya, Ladies European, Indy Women, Tech, University of California, Carmel High School, Monterey Bay National, National, Canada, North America, “, USGA, Pebble Beach Resorts Locations: Pebble Beach , California, Stillwater, Monterey , California, Canada, Greenland, Norway, Hawaii, France, Bangkok, Don, AFP, North, South Korea, Washington, Uummannaq, Coeur D'Alene, Death Valley , California, South Carolina, Bolivia, Kabul, Kenya, Australia, Ceduna, Kalgoorlie, Monterey Bay, Pebble Beach, Cypress Point, Carmel, California, Monterey, Japan, England, Germany, America, –, Spanish, London, Florida

☆ European markets set to open higher following Fed cut; Bank of England rate decision in focus
▼ + stars: | 2024-09-19 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Bank of England in the City of London as economists and mortgage holders await this week's interest rate announcement on 28th July 2024 in London, United Kingdom. LONDON — European markets were poised to open higher as investors digested the U.S. Federal Reserve's first interest rate cut in four years and looked ahead to the Bank of England's rate decision later in the session. Back in Europe, investor attention is now turning to the Bank of England, with the central bank largely expected to hold rates steady at 5%. The Fed's jumbo rate cut is unlikely to impact the Bank of England, according to economists, as the central bank ratified its decision around lunchtime Wednesday, hours before the U.S. announcement. Also on Thursday, Norway's central bank will deliver its latest interest rate decision.

Persons: Germany's DAX, Tiina Lee, CNBC's Organizations: of England, City of, LONDON, . Federal, Bank of, FTSE, France's CAC, Fed, Bank of England, Citi UK Locations: City, City of London, London, United Kingdom, ., Trading, Asia, Europe, U.S, Norway's

☆ Gold holds ground after Fed's oversized rate cut
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold prices held steady on Thursday after hitting a record high in the previous session, after the U.S. Federal Reserve delivered a super-sized interest rate cut. Spot gold was little changed at $2,562.85 per ounce, as of 0319 GMT after scaling a record high of $2,599.92 on Wednesday. Powell, however, said the economy remained strong, with many job market indicators like unemployment claims and even the current 4.2% unemployment rate not at worrying levels. Zero-yield bullion tends to be a preferred investment in a lower interest rate environment and during geopolitical turmoil.

Persons: Jerome Powell, Powell, Kelvin Wong, OANDA's Organizations: Aurum, U.S . Federal Reserve, Fed, Asia, Traders Locations: ., Lebanon

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