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Chinese consumers are opting for affordable alternatives across various categories to save money. The trend, known as pingti, is driven by economic challenges and is popular among young people. Consumers are finding cheaper substitutes for luxury goods, everyday items, and even healthcare. It's now become a trend in China to save on nearly every consumer category, from luxury goods to everyday consumables to travel, with cheaper substitutes. A Bank of America survey of 1,052 adult Chinese consumers showed weakening consumer sentiment, with 30% of respondents planning to spend more — down from 45% in June.
Persons: , It's, Bobbi Brown, Estée Lauder, MingYii Lai, it's, Lindy, Hermes Lindy, Lai, Ruth Jin, Xiaohongshu Cleo Xie, they've, She's, Xie, Jin, Yves Saint Laurent, Keith, she's Organizations: Service, Daxue Consulting, Bottega, Prada, University, Dai, PPI, Bank of America Locations: China, Xiaohongshu, Beijing, Ili, Xinjiang, Provence, France, Xishuangbanna, Laos, Myanmar, Bangkok, Thailand, Chengdu, Europe, Asia
A rate cut by the Federal Reserve this month has fueled hopes that the interest rate-sensitive housing market will soon experience a fresh jolt. “What this data tells us is that the housing market in 2024 has been really frozen,” said Chen Zhao, Redfin’s economic research lead. Zhao said a market where 30 to 40 of every 1,000 homes changed hands would signify a healthier housing landscape. “That very low inventory on the market was one of the primary drivers of there being so little turnover.”A shortage of new home construction also contributed to America’s sluggish housing market. “Getting to a healthy housing market is very hard from this point,” Zhao said.
Persons: , Chen Zhao, , Zhao, Redfin, , Jeremiah Vancans, Vancans, , Patrick Chamberlin, Chamberlin, Freddie Mac, it’s, ” Zhao, we’ve Organizations: CNN, Federal Reserve, California ., , Boston, Consumer Financial Protection Bureau, National Association of Realtors Locations: , Redfin, California, California . Los Angeles, Los Angeles, Austin , Texas, The Texas, Sun Belt, New York City, Phoenix
Oasis announce US tour dates
  + stars: | 2024-09-30 | by ( Lisa Respers France | ) edition.cnn.com   time to read: +2 min
CNN —To borrow from one of their song titles, Oasis has decided to “Acquiesce” to their North American fans who want to get in on their reunion tour. The British rock band has announced an expansion of their 2025 tour, which now includes dates in the US. “Ticketmaster’s dynamic pricing model will not be applied to the forthcoming sale of tickets to Oasis concerts in North America,” a statement from the band’s management shared on Instgagram reads. Presale registration for the North American tour is currently available on Oasis’ website until Tuesday at 8 a.m ET, while the general ticket sale will begin at noon Friday local time. The band plans to also tour outside of Europe and North America.
Persons: Oasis, , Liam, Noel Gallagher, Christopher Furlong Organizations: CNN, North, Oasis, Rogers, Ireland, Markets Authority, CMA, Ticketmaster, ” CNN, North American Locations: British, America, Toronto , Ontario, Chicago , Illinois, East Rutherford , New Jersey, Los Angeles , California, Mexico City, Mexico, North America, Manchester, England, Europe
Bankrate found the "most valuable" majors among 152 fields of study. Valuable majors were based on unemployment, salary, and people with advanced degrees. AdvertisementA new analysis of 152 majors found engineering degrees are valuable financially and in the labor market. Bankrate analyzed 2022 American Community Survey data to determine the "most valuable college majors." AdvertisementBelow are the majors that made the top 10 in Bankrate's ranking:The top nine most valuable majors had median salaries of at least $100,000.
Persons: Bankrate, , Alex Gailey, Gailey, grads Organizations: Service, Survey, Petroleum, Pew Research Center, Federal Reserve Bank of New Locations: Bankrate's, Federal Reserve Bank of New York
Past debate footage reveals that both generally veer away from personal attacks and prefer loftier rhetoric to digging deeply into specific facts to establish policy credibility. Their past debate opponents said they didn’t always provide direct answers to questions. In both the primary and general election debates, Vance often stuck to policy areas he felt most comfortable with: immigration, the economy and drug control. According to those interviews and evidence from his past debates, Vance, a Yale Law School graduate, seems to enjoy getting into verbal volleys. Tim Walz debates for governor on August 17, 2018, at Grand View Lodge, in Nisswa, Minnesota.
Persons: Kamala Harris, Donald Trump, Tim Walz, Ohio Sen, JD Vance, Walz, Harris, Vance, The Walz, , We’re, , Rebecca Pearcey, Trump, Tim Ryan, Ryan, I’ve, ” Vance, , he’s, ” Ryan, , ” JD Vance, Bret Baier, Martha MacCallum, Andrew Spear, Ohio Republican Michael Gibbons, “ JD, it’s, , George Floyd, Walz’s, Walz didn’t, Jeff Johnson, ” Walz, Johnson, Allen Quist, Quist, Sen, John McCain’s, Glen, Republican Scott Jensen, Derek Chauvin’s, Daunte Wright, doesn’t, Tim Kaine, Mike Pence, let’s Organizations: CNN, Minnesota Gov, Ohio, Democratic, Trump, Republican National Convention, New York Times, Rep, Ohio Republican, Fox News, Yale Law School, Republican, Minnesota’s, Congressional, Republicans, Minnesota Star Tribune, Getty, National Guard, Pence Democratic Locations: Atlanta, New York, Ohio, Columbus , Ohio, United States, , Youngstown, Minnesota, Nisswa , Minnesota, Glen Stubbe
So far, she's been on 17 sailings — 11 with Norwegian Cruise Line and some back-to-back — since she left the US one year ago. If you're a first-time, budget, or solo cruiser, Thomas has nine suggestions for you, from sailing solo to finding the cheapest cruise. Thomas suggests travelers wanting to achieve loyalty status should test two or three companies before settling on a favorite. In 2024, Norwegian Cruise Line introduced solo interior, ocean view, and balcony cabins on top of its existing "studios" designed for single travelers. Norwegian Cruise LineSome cruise companies charge solo travelers a "single supplement" fee to compensate for lost revenue on dual occupancy cabins.
Persons: Shirene Thomas, , Thomas, Villa Vie's, she's, Brittany Chang, Taylor Rains, she'll, there's, Pieter De Boer, it's, Jason Liberty Organizations: Villa, Service, Cruise Lines International Association, Sea Cruises, Norwegian Cruise Line, Cruise, Cruise Line, Firenze, Business, Facebook, Royal, upcharges, Royal Caribbean, Oasis Class, Seas Locations: Wilmington , North Carolina, Norwegian, CocoCay, , New Orleans, Barcelona, Florida's Port Canaveral
It was obvious to me that I wanted to do the inverse and build an all-female hacker house that created the same dynamic but with women." Cantillon, who has lived in several hacker houses over the years, saw a need for a space dedicated exclusively to women. That's why she co-founded HackHer House, the first all-female hacker house in the San Francisco Bay Area. Hacker houses aren't new to the Bay Area or cities like New York and London. In a city renowned for tech advancements, hacker houses are viewed as critical for driving the next wave of innovation.
Persons: Molly Cantillon, Cantillon, Jennifer Li, Andreessen Horowitz, Zoya Garg, Anna Monaco, Anne Brandes, Li Organizations: HackHer, Stanford University, . Venture, U.S Locations: San Francisco Bay, Silicon, North Beach, Bay, New York, London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside the first all-female hacker house in San FranciscoHackHer House is the first all-female hacker house in the San Francisco Bay Area, aimed at empowering women in tech. The house provides affordable living for founders working on startups, from AI-driven tools to senior care solutions. Backed by venture capital, it fosters collaboration in a competitive environment. In a male-dominated industry, this space creates a supportive community where women can thrive. CNBC met with the founders to discuss their vision for the future.
Organizations: San Francisco Bay Area, CNBC Locations: San Francisco, San Francisco Bay
Japan Airlines is offering free domestic flights to tourists from the US and other select countries. Tourists must book round-trip international flights with Japan Airlines to qualify. Japan Airlines is offering free domestic flights to tourists from the US, Canada, Mexico, Thailand, Australia, and New Zealand, according to a recent announcement on its website. In order to claim the free tickets, passengers must book round-trip international flights with the same airline and the domestic flights must be booked in the same reservation as the international flights. A spokesperson for Japan Airlines told Business Insider that "no end date has been set" for the initiative.
Persons: , Grace Cheng, Cheng Organizations: Japan Airlines, Service, Business, Harper's Bazaar Locations: Japan, Tokyo, Canada, Mexico, Thailand, Australia, New Zealand, Vietnam, Philippines Indonesia, India, China, Taiwan, New York, Sapporo, Hokkaido, Harper's Bazaar Singapore, Kanazawa, Inland
David Valdez, 35, moved to Detroit from San Francisco in 2018. Valdez moved to Detroit for better job opportunities and to be with his partner, Juna Durrant, who is from Michigan. In San Francisco, Valdez said he worked two jobs and lived with roommates just to get by. At the time, Valdez worked at various cafés in Detroit, including Astro, a coffee shop in the historic Corktown neighborhood. "If I stayed in San Francisco, I wouldn't even begin to try to open a coffee shop," Valdez said.
Persons: David Valdez, he's, Valdez, , I've, Juna Durrant, Durrant, Detroit Valdez, San, California Valdez, refinanced Organizations: Service, Census Bureau, Starbucks, Astro, Business, David Locations: Detroit, San Francisco, Michigan, California, Mexico City, Alba, Mexican, David Valdez, ProsperUs, Corktown
Apple's AirPods Pro 2 now feature FDA-approved hearing aid capabilities. The Hearing Aid feature in Apple's AirPods Pro 2 is designed for people with mild to moderate hearing loss, and Apple said it can amplify voices, phone calls, and media sounds. So I sought out an expert in the hearing loss community to get a better understanding of whether we should expect Apple's hearing aids to be a hit or miss. The Over-the-Counter Hearing Aid Act of 2017 made it legal for the FDA to regulate the sale of hearing aids that don't require a prescription or a trip to the audiologist. As the daughter of a woman who suffers from hearing loss, I've witnessed my mother's denial of her struggles.
Persons: Apple's, , Apple, Katherine Bouton, Bouton, Bose, I've Organizations: FDA, AirPods, Service, Food and Drug Administration, of America, Apple, Costco, Walmart, Bureau of Labor Statistics
New U.S. tariffs on $18 billion in Chinese goods take effect Friday as trade tensions intensify between the world’s two largest economies. For example, the U.S. imports almost no Chinese EVs, largely because of an existing 27.5% tariff that is now increasing to 100%. Lithium-ion batteries, however, are a different story, accounting for about $13 billion of the $18 billion in affected Chinese goods. Similarly, the U.S. has been increasing its Chinese imports of natural graphite, another crucial component of EVs. “Cheaper Chinese solars and cheaper Chinese EVs can actually take jobs away from a lot of manufacturers in, say, the West.
Persons: Donald Trump, Joe Biden, Trump, Chim Lee, ” Lee, Charles Benoit, “ that’s, Benoit, , Biden, Julie Kozack, Lee, it’s Organizations: Economist Intelligence Unit, Biden, China, European, Coalition for, Prosperous, International Monetary Fund, U.S Locations: U.S, Beijing, China, Asia, Southeast Asia, Mexico, Malaysia, Prosperous America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLatinos drive 'Affordable Care Act' marketplace enrollmentNationally, about half of Latinos get health insurance through their employers, but in a number of states they rely heavily on the ACA marketplaces for coverage. Senior Health Care Reporter Bertha Coombs unpacks the details.
Persons: Bertha Coombs
Apartment prices were slightly cheaper in September than in August as interest rates fell. AdvertisementRent inched lower in September as the unofficial moving season starts to wind down, but apartment prices are still near all-time highs. 14 affordable cities where rent is down meaningfullyNearly two-thirds of the nation's 100 biggest real-estate markets experienced either lower or flat rent in September, according to Zumper. However, only 14 cities have one-bedroom apartments that cost less than the national median of $1,533 and were at least 2% cheaper than last year. AdvertisementBelow are those 14 cities, along with their month-over-month and year-over-year rent changes, median rent prices, the monthly savings vs national median, and national rent ranking.
Persons: , Zumper, It's, Anthemos Georgiades Organizations: Service, Federal Reserve
When Jonathan Ochart moved from San Antonio to Los Angeles in 2023 to grow his public relations business, he figured he'd buy a condo. But that's only one of the reasons he's priced out of the Los Angeles County market, even for a smaller place. In LA, "even a modest condo costs close to $1 million," he says. Jonathan Ochart gave up on buying a condo in Los Angeles. Courtesy of Jonathan OchartBy early 2024, Ochart had given up on the idea of buying a condo in Los Angeles altogether.
Persons: Jonathan Ochart, Ochart, you've Organizations: CNBC, U.S . Census Locations: San Antonio, Los Angeles, Texas, Angeles County, Ochart's, Beverly Hills, LA, San Jose , New York, Boston, LA County, U.S
I traveled by train in four European countries using a Eurail pass in October 2022. I preferred the experience of country hopping by train to flying to each place. I formed this opinion in October 2022, when I spent two weeks backpacking through Europe with a Eurail pass. Eurail passes grant travelers unlimited access to most European trains for a set number of days. Some trains only require a Eurail pass, while others, including overnight trains, incur an additional, discounted price.
Persons: Organizations: Service Locations: Europe
SKIP AHEAD How I tried the DRx Spectralite Faceware Pro | My experience with the Dr. Dennis Gross DRx Spectralite Faceware Pro | Who is the DRx Spectralite Faceware Pro best for? What is the Dr. Dennis Gross DRx Spectralite Faceware Pro? You can wear the Dr. Dennis Gross DRx Spectralite Faceware Pro mask for three minutes a day to target fine lines, discoloration and acne-causing bacteria. In short, yes: Dermatology offices nationwide have been using red light therapy for over a decade, according to experts we spoke to in our guide to red light therapy. Who is the Dr. Dennis Gross Drx Spectralite Faceware Pro best for?
Persons: I’ve, Dennis Gross’s, Dennis Gross, Apple, Ashley Morris, , Solawave, it’s, TikTok Organizations: NBC, University of Wisconsin School of Medicine, Public Health, Therabody’s, Technologies, FDA, Facebook, Twitter Locations: New York
Prices for prescription pharmaceutical drugs have skyrocketed, disproportionately making them harder for people of color to afford, a new report finds. Black people in the U.S. are more likely to be diagnosed with the condition and die from it, the report highlights. Several health care advocacy organizations, including Patients for Affordable Drugs and Health Care for America Now, are pushing for policies that will help lower the financial burden of patients. Both organizations supported the Inflation Reduction Act, a law signed by President Joe Biden that aims to reduce prescription drug prices. In the meantime, Basey, of Patients for Affordable Drugs, said her organization continues to push for bills like S.142, which prevents pharmaceutical companies from paying generic brands to delay the release of their drugs on the market.
Persons: Merith, , ” Basey, , Basey, haven’t, Carrol Olinger, Olinger, ” Olinger, Joe Biden, Margarida Jorge, Jorge, hasn’t, “ It’s, ” Jorge, she’s Organizations: Drugs, New England, of Medicine, AstraZeneca, NBC News, Bristol Myers Squibb, ” Pharmaceutical, U.S, Health Care, America, Centers for Disease Control, Biden Locations: U.S, Daiichi, Hope Mills , North Carolina, Basey
It is building 43 new hotel units and 18 residential homes over 40 acres — all with a 3D printer. It is the world’s first 3D-printed hotel, says El Cosmico owner Liz Lambert and the partners behind the project — Austin, Texas-based 3D printing company ICON and architects Bjarke Ingels Group. The “ink” of this 3D printer is a special cement-based material called Lavacrete, a proprietary mixture designed for strength, affordable scale, and printability. In the long term, 3D-printed construction could displace some skilled laboring jobs, said Milad Bazli, a science and technology lecturer at Charles Darwin University in Australia. The hotel units will range between $200 and $450 per night.
Persons: El Cosmico, Liz Lambert, Bjarke, Lambert, ” Lambert, “ I’ve, It’s, ICON’s Vulcan, Jason Ballard, ” Ballard, Milad Bazli, , ” Bazli Organizations: Bjarke Ingels, Charles Darwin University Locations: MARFA, Texas, El, Marfa, Austin , Texas, Austin, Australia
New York CNN —Three things seem certain to happen in life: death, taxes and the prices of stamps going up. The United States Postal Service announced that First-Class postage, currently at 73 cents, will go up five times through 2027, according to a detailed document submitted this week to the Postal Regulatory Commission. The next price hike is planned for July 2025 and will then repeat “each January and July thereafter” through the end of 2027, the agency said. However, all price changes must be approved by the Postal Regulatory Commission and the specific price hikes weren’t announced. First-Class mail is becoming a smaller part of the Postal Service’s business because of online communication.
Persons: , Louis DeJoy, Organizations: New, New York CNN, United States Postal Service, Postal Regulatory Commission, weren’t, USPS Locations: New York
MacKenzie, 67, owns a condo in Puerto Vallarta, Mexico, with his husband, Darin Templeton. AdvertisementMacKenzie said it was important to visit Mexico and become accustomed to the lifestyle before committing to buying a condo there. In fact, they vacationed in Puerto Vallarta multiple times over six years before purchasing a condo in 2017. He said it feels like "there are more gay bars and clubs" in Puerto Vallarta than in Manhattan, adding that Puerto Vallarta is considered a top LGBTQ+ destination in Latin America. A dinner on Bill MacKenzie's terrace in Puerto Vallarta Courtesy of Bill MacKenzieMacKenzie said Puerto Vallarta has an active foreign population, and his condo complex has residents from Canada, Australia, Panama, and more.
Persons: , Bill MacKenzie, MacKenzie, Darin Templeton, Templeton, Nebraska MacKenzie, Templeton —, Bill MacKenzie MacKenzie, Mexico MacKenzie, Mackenzie, Bill Organizations: Service, Business, Social Security Administration, Nebraska, Creighton University, Nebraska — Locations: Mexico, Puerto Vallarta, Omaha, San Diego, Sarpy, Nebraska, Bluffs , Iowa, Omaha . Iowa, California, Florida , Texas, Arizona, Florida, Southern California, Manhattan, America, Canada, Australia, Panama, American
While the wholesale retailer's iconic hot dog and soda combo has sold for $1.50 since 1985, the total return on the company's stock has grown by an astronomical 59,152%, according to CNBC calculations. In contrast, the total return on the S&P 500 has increased in value by about 6,000% in that time. Costco's hot dog price hasn't budged in decades , but the same can't be said for its soaring stock. The company has confirmed a growing number of young people, including Gen Z, have been signing up for Costco memberships in recent years. Ahead of the company's release of its fourth quarter earnings after Thursday's market close, here's a look at the stock performance over the years, based on an initial investment of $1,000.
Persons: Gen Organizations: CNBC, Costco, Kirkland
U.S. News and World Report recently released its ranking of the best countries in the world based on quality of life. The best countries for quality of life were scored across the following metrics:AffordableGood job marketEconomically stableFamily-friendlyIncome equalityPolitically stableSafeWell-developed public education systemWell-developed public health systemOne country noticeably missing from the top 10 is the United States. The United States ranked poorly in the metrics used to rank the best countries for quality of life — No. 49 for countries seen as not bureaucratic, Elliot Davis, reporter at U.S. News and World Report, tells CNBC Make It. "In terms of perceptions, they aren't seen as providing just quite as good a quality of life for its people as other countries."
Persons: Elliot Davis, Davis Organizations: . News, U.S . News, WPP, Wharton School, University of Pennsylvania, United States, CNBC Locations: U.S, United States
Now, despite a rocky start three years ago, Meta's smart glasses are doing better than expected. Meta's Ray-Bans have a camera and speaker and are packed with AI. Meta's loftier goal, the Orion glasses , aren't quite there. Yet getting people into the Orion glasses may depend on getting people comfortable with smart glasses generally, and that's where the Ray-Bans could come in. And the Meta Ray-Bans make it even easier to use AI as you move through the world — no hands (and awkward air-pinching ) required.
Persons: Mark Zuckerberg, Ray, Zuckerberg, Meta's Ray, Meta's, They're, they're, George Jijiashvili, Peter Kafka, it's, Bob Dylan, Lady Gaga, Amanda Hoover Organizations: Orion, International Data Corporation, Apple, Microsoft, Google, IDC, Research, VR, Business
Does this style look like anything you’ve seen before? That’s what’s happening in this Japanese woodblock print — only it’s Tokyo (then called Edo), the year is 1857, and we’re crossing the Sumida River. This summer scene, titled “Great Bridge: Sudden Rain at Atake,” is one in a series of at least 118 different views Hiroshige created about life in 19th-century Edo across the seasons. In fall:In winter:In spring:And of course, there’s the summer rain you spent some time with. Ms. May recently curated a show of Japanese prints at the museum.
Persons: you’ve, Utagawa Hiroshige, You’re, Hiroshige, May, ” Ms, Ms, Vincent van Gogh, Theo, Vincent, Van Gogh, , Nienke Bakker, van Gogh, Bakker, James McNeill Whistler, Alfred Barr, Tetsuya Noda, Organizations: Carnegie Museum of Art, Fuji, Smithsonian, Van, Museum of Modern, Locations: Japan, , Tokyo, Edo, Japanese, Atake, Pittsburgh, Paris, Van Gogh, Amsterdam
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