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☆ Big American Tech Profits From Chinese Ad Spending Spree
▼ + stars: | 2024-03-06 | by ( Daisuke Wakabayashi | Mike Isaac | ) www.nytimes.com time to read: +1 min

Temu, the international arm of the Chinese e-commerce giant Pinduoduo, is flooding Google with ads for absurdly inexpensive goods. With an initial public offering looming, the fast-fashion merchant Shein is inundating Instagram with ads for clothes and accessories at rock-bottom prices. Developers of China’s video streaming and gaming apps are dumping marketing dollars into Facebook, X and YouTube to entice potential users. In the last year, Temu has placed about 1.4 million ads globally across Google services, and at least 26,000 different versions of ads on Meta, according to Meta’s Ad Library. “You can’t escape their ads across Facebook, Instagram and Google Search.”

Persons: Shein, Temu, ”, Canaves Organizations: Facebook, YouTube, Google, Meta, Ad Locations: China, United States, eMarketer

☆ Apple hit with more than $1.95 billion EU antitrust fine over music streaming
▼ + stars: | 2024-03-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTwatch nowThe European Commission, the European Union's executive arm, on Monday hit Apple with a 1.8 billion euro ($1.95 billion) antitrust fine for abusing its dominant position on the market for the distribution of music streaming apps. Apple also banned developers of music streaming apps from providing any instructions about how users could subscribe to these cheaper offers, the Commission alleged. Apple responseIn a fiery response to the fine, Apple said Spotify would stand to gain the most from the EU pronouncement. That's because instead of selling subscriptions in their iOS app, Spotify sell them via their own website stead. Apple fine just a 'parking ticket'The Commission said that Apple prevented developers of music streaming apps from informing their iOS users within their apps about prices of subscriptions or offers available elsewhere.

Persons: Apple, —, Margrethe Vestager, Vestager Organizations: European Commission, Apple, Commission, EU, U.S, Spotify, Apple Music Locations: Brussels, Stockholm, Sweden, Cupertino

☆ Zero-carbon energy generated a record 41% of US power in 2023
▼ + stars: | 2024-02-22 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

A record amount of renewable energy, led by solar, was added to the grid. It was the opposite story for wind power. They generated a record 41% of US power in 2023. Rowlands-Rees said that falling gas prices made it the cheapest form of energy in 2023. The power sector, as recently as 2016, was the top emitter.

Persons: BloombergNEF, Tom Rowlands, Rees, BloombergNEF's, Rowlands, —, Biden, Jeannie Salo Organizations: Service, Investments, Business, Companies, Industry, Schneider Electric, Toyota Locations: China, America, Japan, Southeast Asia, Coast, New York, Massachusetts, Georgia, North Carolina, Business

☆ Apple reportedly faces its first EU antitrust fine
▼ + stars: | 2024-02-19 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Apple blocked rivals from telling users about cheaper options, the EU is expected to say next month. Apple is expected to be fined by the European Union for the first time, according to reports by the Financial Times and Bloomberg. The EU is set to impose a penalty of about 500 million euros ($539 million) in early March, the FT reported. AdvertisementThe EU is expected to find that Apple placed “unfair trading conditions” on rivals to its Apple Music service, per the reports. The streaming company claimed Apple’s App Store rules “purposely limit choice and stifle innovation” by imposing a 30% commission on app developers.

Persons: Daniel Ek, Apple didn’t Organizations: Apple, European Union, Financial Times, Bloomberg, EU, Apple Music, Spotify, Digital Markets, Business Locations: EU

☆ Apple wants to know what developers really think about its App Store changes. It may regret asking.
▼ + stars: | 2024-02-05 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Read previewApple is about to find out what developers really make of its App Store shake-up . The iPhone maker has started to offer 30-minute online consultations to any app maker seeking to give feedback on a raft of controversial changes made to its App Store last month . To address lawmakers' concerns, Apple set about allowing third-party app stores onto iOS. AdvertisementFor one, it can expect to hear strong thoughts about rules dictating which third-party app stores will be allowed onto its operating systems. That said, it's still open to talk about topics including alternative distribution on iOS, alternative payments in the App Store, and more.

Persons: —, Tim Sweeney, Daniel Ek, Don Emmert, Sarah Bond, Apple, Sweeney, It's, Zach Meyers, it's Organizations: Service, Union's, Business, Apple, EU, Epic, iOS, Getty, Center, European Locations: Cupertino , London, Singapore, AFP, @Zach_CER

☆ 5 distinct legal questions looming over Donald Trump
▼ + stars: | 2024-01-30 | by ( Zachary Wolf | Analysis Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

CNN —While former President Donald Trump’s path through Republican primaries is clearing up, he faces looming unanswered questions in multiple different courts. Engoron had already ordered the dissolution of Trump’s New York real estate empire, which is on hold pending Trump’s appeal. The US Supreme Court has, for now, declined to take up the case, because justices wanted this particular appeals court panel to weigh in. Trump will remain on the ballot for Colorado’s primary pending the Supreme Court decision. While the situation is unlikely, at least for now, to kill the case against Trump, Willis’ position at the helm is very much in question.

Persons: Donald Trump’s, Arthur Engoron, Letitia James, Trump, Engoron, Jack Smith, Will Trump, Fani Willis, Willis ’, Willis, Scott McAfee, Jean Carroll, Carroll, that’s, ” Trump, “ Organizations: CNN, Trump, New York, Trump’s, US, Tuesday, Senate, New, Forbes, Bloomberg Locations: Trump’s, York, New York, Washington , DC, Colorado, Maine, Illinois, Georgia, Fulton County, Georgia’s

☆ GitHub execs say coders are rushing to use its AI coding tool despite copyright concerns
▼ + stars: | 2023-12-19 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +7 min

Last month, the company launched new updates to Copilot Chat, a chat function that can help developers troubleshoot bugs or answer coding questions. Copyright risksIn September, Microsoft announced a policy that it would provide indemnification coverage to copyright claims related to its AI-powered Copilot tools, including GitHub Copilot. If customers don't want their code included in training sets for AI, they can make their GitHub code bases private. "That's part of listening to the community and trying to understand the feedback and how can we help," McKinley said. "Others are experimenting with AI," Shani said.

Persons: GitHub, GitHub's, Shelley McKinley, McKinley, Inbal Shani, Shani, GitHub McKinley, she's, OpenAI, we've, We're Organizations: Business, Microsoft, Northern Locations: GitHub, Northern California

☆ Nashville's real estate boom has builders scrambling and residents facing sky high prices
▼ + stars: | 2023-11-30 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +6 min

The Nashville building boom is in full effect, despite higher interest rates, higher home prices and a weaker national economy. During the Great Recession after the 2008 financial crisis, workers were looking for an urban vibe but with cheaper housing. While home prices nationally are up 47% from the start of the pandemic, Nashville prices are up 55%, according to ICE Mortgage Technology. "What we're seeing housing prices and rents go to is very foreign to what they would call affordable," said Eldridge. Gallagher has been working in Nashville's commercial real estate sector since moving to the city over a decade ago.

Persons: We've, John Eldridge, Eldridge, John Burns, CNBC he's, haven't, It's, Madison Cartularo, I've, Cartularo, Janelle Gallagher, Nashville . Gallagher, she's, that's, Gallagher, Bill Lee Organizations: Istock, Getty Images Nashville, E3 Construction, John Burns Research, Consulting, CNBC, Nashville, ICE Mortgage Technology, ICE, CBRE Locations: Nashville , Tennessee, Nashville, Los Angeles, Redfin, United States, New Yorker, Tennessee

A South African company will make vaginal rings that protect against HIV, which AIDS experts say should eventually make them cheaper and more readily available. The Population Council announced Thursday that Kiara Health of Johannesburg will start making the silicone rings in the next few years, estimating that 1 million could be produced annually. The nonprofit council owns the rights to the rings, which are now made by a Swedish company. About 500,00 rings are currently available to women in Africa at no cost, purchased by donors. Last year, activists charged the stage in a protest during last year's biggest AIDS meeting, calling on donors to buy the silicone rings for African women.

Persons: Ben Phillips Organizations: Population, World Health Organization, WHO, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Johannesburg, Swedish, Africa, South Africa, Botswana, Malawi, Uganda, Zimbabwe

☆ How AI could power the climate breakthrough the world needs
▼ + stars: | 2023-11-26 | by ( Clare Duffy | Rachel Ramirez | ) edition.cnn.com time to read: +14 min

The tool uses data on the climate, water and soil of a particular location to measure how viable the landscape will be for growing in the coming years. “The way we think about AI is it’s a time and effectiveness multiplier to the solutions for climate change,” Gupta told CNN. But for all of AI’s promise, the infrastructure that supports the technology — data centers filled with rows of powerful, energy-sucking computers — could itself be a strain on the environment. For now, the amount of energy used to power AI is relatively small compared to what’s consumed by transportation or buildings. Data center operators like Google are already thinking about how to reduce the resources needed to power the computing behind their AI models.

Persons: David Rind, ClimateAi, Himanshu Gupta, ” Gupta, ”, Fengqi, “, Kara Lamb, Aditya, Dan Keeler, ” Keeler, Anna Liljedahl, ” Liljedahl, Keeler, Daniel Leal, ClimateAi’s Gupta, Anna Robertson, ” Robertson, Alex de Vries, Alex Kraus, Adam Selipsky, —, Gupta Organizations: David Rind . New York CNN, Farmers, CNN, Cornell, Getty, Technology, Climate Research, Google, Bloomberg, Web Services, —, “ Regulators, ” Tech Locations: David Rind . New York, India, Maharashtra, Columbia, American, Ireland, Oregon, United States

☆ This $3.5 million apartment sits atop a former Wonder Bread Factory turned luxury condos—take a look inside
▼ + stars: | 2023-11-25 | by ( Celia Fernandez | ) www.cnbc.com time to read: +4 min

The former Wonder Bread Factory in Hoboken, New Jersey was transformed into a luxury residential building. Now in its place stands The Wonder Lofts, a luxury residential building with 83 loft-style condominiums. The Wonder Lofts building was a bakery for more than 50 years in the 1900s. Wonder LoftsThe Wonder Lofts includes two- to five-bedroom apartments with about 1,200 square feet to 2,700 square feet of living space. Wonder Lofts

Persons: Angelo Gordon, Robert Fourniadis, Fourniadis, it's, Daniel P, Winschuh, You've Organizations: Prism Capital Partners, Parkwood, CNBC Locations: Hoboken , New Jersey, New Jersey, New York City, Palisades, Manhattan, cabanas, Hoboken

REUTERS/David Swanson/File photo Acquire Licensing RightsNov 24 (Reuters) - Canceled offshore wind projects, imperiled solar factories, fading demand for electric vehicles. A year after passage of the largest climate change legislation in U.S. history, meant to touch off a boom in American clean energy development, economic realities are fraying President Joe Biden’s agenda. Clean energy experts interviewed by Reuters say the mounting setbacks will make the United States' ambitious targets to decarbonize by mid-century even harder to reach. Solar energy facilities account for two thirds of those delays due in part to U.S. import restrictions. "These are the normal ups and downs of clean energy development and deployment," Reicher said.

Persons: David Swanson, Joe Biden’s, Biden, John Hensley, Wood Mackenzie, “, Ali Zaidi, Prakash Sharma, that's, Vic Abate, it's, Robert Walther, Walther, Dan Reicher, Reicher, Nichola Groom, Richard Valdmanis, Alistair Bell Organizations: REUTERS, Soaring, Ford, Reuters, American Clean Power Association, United Nations, White, Dominion Energy Inc, TEN, GE, Biden, Treasury Department, Trump, Stanford University, Thomson Locations: Palm Springs , California, U.S, Washington, Nations, Egypt, Dubai, United States, Paris, Virginia, Gulf of Mexico

☆ China's property sector needs more government support as crisis deepens
▼ + stars: | 2023-11-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Qilai Shen | Bloomberg | Getty ImagesBEIJING — China's property market, which makes up a substantial chunk of the country's economy, needs more government support to prevent it from deteriorating further, analysts said. UBS analysts estimated that real estate and related sectors now account for about 22% of China's gross domestic product, down from around 25% levels seen in recent years. However, real estate behemoth Country Garden still ended up defaulting on a U.S. dollar bond last month, according to Bloomberg News. "China's property sector has yet to bottom out," the report said. "Markets appear to have been a bit too optimistic about the property stimulus policies over the past two months."

Persons: Qilai Shen, Larry Hu, Nomura Organizations: Bloomberg, Getty, BEIJING, Macquarie, UBS, U.S, Bloomberg News, Developers Locations: Nanchuan, Xining, Qinghai province, China, Beijing

☆ Developers who want to build apartments near public transit stations are in luck as the Biden administration opens up billions in new loans
▼ + stars: | 2023-11-15 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Construction of new apartment buildings is slowing as interest rates stay high. The Department of Transportation is opening up billions in loans for construction near mass transit. AdvertisementMultifamily housing construction boomed over the last couple years, and more apartments are coming on the market than at any time since the 1980s. But as interest rates have shot up, apartment construction is sharply slowing across the country. In fact, in order to qualify for the loans, developers need to show that their projects would boost ridership.

Persons: Biden, —, Dan Schned, TOD, Schned, Brian Deese Organizations: Department of Transportation, Service, of Transportation, Transportation Infrastructure Finance, Innovation, Railroad Rehabilitation, Improvement, DOT's Build America Bureau Locations: downtowns

☆ U.S. renewable, grid battery projects battle transformer shortage
▼ + stars: | 2023-11-15 | by ( Nicole Jao | ) www.reuters.com time to read: +5 min

LONGER LEAD TIMESLarge-scale battery projects to store energy on grids and to smooth out the variance of wind and solar power are also seeing longer lead times. They are taking around 12 to 18 months to complete, around six months longer than they would take without the supply issues, said Andrew Waranch, chief executive of battery energy storage system developer Spearmint Energy. Utility AES Corp (AES.N) has stockpiled supplies of the equipment it needs to build battery storage projects through 2025, a company spokesperson said. A shortage of raw materials that has contributed to transformer supply delays is unlikely to ease soon, manufacturers said. The supply-demand dislocation has worsened with the rapid scale-up of wind, solar and storage projects.

Persons: Nick Oxford, Vanessa Witte, Wood Mackenzie, Ben Pratt, Pratt, we've, Reagan Farr, Farr, Andrew Waranch, Waranch, Marco Terruzzin, Doug Banty, Banty, John Darby, Nicole Jao, Simon Webb, Nick Zieminski Organizations: REUTERS, AES, Nova Clean Energy, Silicon, Spearmint Energy, Developers, American Clean Power Association, U.S . Energy Information Administration, AES Corp, MGM, Niagara, Thomson Locations: Big Spring , Texas, U.S, Chicago, Swiss, China, California, Russia, Ukraine, New York

Microsoft CEO Satya Nadella made a surprise appearance at OpenAI's developer conference on Monday with a message: Come build with us. 1 is to build the best system, so that you can build the best models and then make that all available to developers," Nadella told OpenAI CEO Sam Altman, on stage at DevDay in San Francisco. Azure has become Microsoft's key growth engine in recent years and has helped revive the company's brand among developers. Microsoft boasts an exclusive license on OpenAI's GPT-4 large language model that can generate human-like prose in response to a few words of text. Developers who are building on top of OpenAI can look to the Azure Marketplace to "get to market rapidly," Nadella said.

Persons: Satya Nadella, Nadella, Sam Altman, OpenAI, ChatGPT, It's, Altman Organizations: Microsoft, Amazon Web Services, Google, OpenAI's, Street, Windows Locations: DevDay, San Francisco

☆ Turning a tiny fraction of America's dead strip malls into housing could create 700,000 new apartments
▼ + stars: | 2023-11-03 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Old or vacant strip malls offer a promising opportunity to create much-needed new housing. A new report found that converting 10% of strip malls into housing could create 700,000 new homes. Urban planners and developers across the country are pushing a fix for both: converting strip malls into housing. But when it comes to strip mall conversions, finding the right property to redevelop is the bigger challenge. And older strip malls are often costlier to maintain than to tear down and redevelop.

Persons: —, Ahmad Abu, Khalaf, It's Organizations: Service, Enterprise Community Partners, International Council of Shopping Centers, Sears Locations: Ahmad, Cities, Abu, Santa Ana , California, Irondequoit , New York

☆ NYC's famous Flatiron Building will be converted into luxury residences after sitting empty for years
▼ + stars: | 2023-10-28 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

The iconic Flatiron Building will be converted from empty offices into luxury residences. The iconic Flatiron Building will be converted from empty offices into luxury residences, the owners announced this week. The Brodsky Organization, a residential real estate developer, bought a stake in the Flatiron building this month and will lead the conversion process, which will include moving the staircases and elevators. The Flatiron Building's redevelopment will be one of New York's most high-profile commercial-to-residential building conversion projects, something that's become a central part of the city's efforts to build more housing. The area — between 23rd and 40th streets and Fifth and Eighth Avenues — is just north of the Flatiron building.

Persons: —, It's, Jeff Gural, Brodsky, Louise Penny, Mark Levine, that's, Eric Adams, Dan Garodnick, Biden Organizations: Service, Macmillan Publishers, Broadway, New York Times, Brodsky Organization, New, New York State, Eighth, New York City's Department of City Planning Locations: Manhattan, New York, hasn't

☆ Sam Bankman-Fried said he was alarmed by Alameda's risk taking, but he doesn't show it when he's 'freaked out'
▼ + stars: | 2023-10-28 | by ( Katie Balevic | ) www.businessinsider.com time to read: +4 min

Sam Bankman-Fried testified before the jury on Friday, detailing his version of events. He added that he doesn't show it when he's "freaking out," contrary to testimony by former execs. "I was very surprised and fairly concerned," Bankman-Fried testified. Developers ran the numbers and confirmed them, bringing about a "relieved" demeanor in Ellison, Singh, and Wang, Bankman-Fried testified. Singh testified that Bankman-Fried had tells, including "physical twitches for when he gets angry."

Persons: Sam Bankman, Fried, —, Bankman, Caroline Ellison, Gary Wang, Nishad Singh, Wang, Singh, Ellison, Ellison didn't, Mark Cohen Organizations: Service, Prosecutors, Alameda Research, FTX, Developers, shuttering Locations: Alameda, Manhattan, FTX, shuttering Alameda, Bahamas, Washington ,

☆ Can anyone save the internet? Neal Agarwal is trying, one Hampster Dance at a time.
▼ + stars: | 2023-10-26 | by ( Brian Barrett | ) www.businessinsider.com time to read: +13 min

Internet Artifacts is the latest project from Neal Agarwal, the creative 25-year-old coder who launched neal.fun six years ago today. "I grew up at the tail end of that era of the internet," Agarwal said. Internet Artifacts has taken closer to three months. Internet Artifacts takes several touchstones of the anteplatformian internet and places them on literal digital pedestals. As delightful as Internet Artifacts is to click through, it also provides valuable context for Agarwal's larger ambition.

Persons: Neal Agarwal, Agarwal, antic, Steve Jobs, Jamie Cohen, It's, coders, he'd, —, Bill Gates, Josh Wardle, Neal, neal.fun, Brandon Chilcutt's, Jessa Lingel, Nicole He, Matthew Rayfield, Brian Moore, Wardle, what's, There's, Brian Barrett Organizations: today's, Adobe, Apple, Developers, MySpace, Facebook, Twitter, CUNY, Virginia Tech, Ripley's, The New York Times, Napster, University of Pennsylvania's Annenberg School for Communication, Immaculate Grid, MacWorld, Wired, Yorker Locations: Queens, Fairfax , Virginia, MSCHF, New York

☆ Meta’s Reality Labs loses $3.7 billion in third quarter as Zuckerberg's big bet keeps bleeding cash
▼ + stars: | 2023-10-25 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +2 min

Revenue in the virtual reality and augmented reality division dropped 26% from $285 million a year earlier, to $210 million. The new product contains an improved "passthrough" feature that creates more of a mixed reality experience. The Quest 3 has a starting cost of $499, which is $200 more than the Quest 2 but $500 cheaper than the high-end Quest Pro VR headset. In June, Meta debuted the Meta Quest+ VR subscription service for users who want to access two new games each month. The subscription service costs $7.99 a month and works with the Quest 2, Quest Pro and Quest 3 VR headsets.

Persons: Mark Zuckerberg, Meta, Francis Haugen Organizations: Meta, Inc, Revenue, Reality Labs, Facebook, VR, Developers, CNBC, Quest Pro Locations: New York

☆ Researchers Say Guardrails Built Around A.I. Systems Are Not So Sturdy
▼ + stars: | 2023-10-19 | by ( Cade Metz | More About Cade Metz | ) www.nytimes.com time to read: +1 min

chatbot ChatGPT last year, the San Francisco start-up OpenAI added digital guardrails meant to prevent its system from doing things like generating hate speech and disinformation. Now a paper from researchers at Princeton, Virginia Tech, Stanford and IBM says those guardrails aren’t as sturdy as A.I. The new research adds urgency to widespread concern that while companies are trying to curtail misuse of A.I., they are overlooking ways it can still generate harmful material. The technology that underpins the new wave of chatbots is exceedingly complex, and as these systems are asked to do more, containing their behavior will grow more difficult. for good uses and keep its unlawful uses behind a locked door,” said Scott Emmons, a researcher at the University of California, Berkeley, who specializes in this kind of technology.

Persons: chatbot ChatGPT, Bard, ”, Scott Emmons Organizations: Princeton, Virginia Tech, Stanford, IBM, Companies, University of California Locations: San Francisco, Berkeley

☆ Meta's unique approach to developing AI puzzles Wall Street, but techies love it
▼ + stars: | 2023-10-16 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +18 min

If the world's leading AI researchers use Llama, Meta could have an easier time hiring skilled technologists who understand the company's approach to development. Spisak helped oversee PyTorch and other open source AI projects when he worked at Meta from 2018 until January 2023. Although a number of open source LLMs are available, Lambert said Llama 2 is by far the most popular. "Facebook was not and that's sort of how they move forward and democratizing this, giving sort of broad access to open source. However, open source doesn't always win, and Padval acknowledged that "in this case, I don't know how it's going to evolve."

Persons: Mark Zuckerberg, Josh Edelson, Mark Zuckerberg's multibillion, Joseph Spisak, that's, Zuckerberg, Meta, Andrew Bosworth, Yann LeCun, isn't, Susan Li, Spisak, Cai GoGwilt, GoGwilt, OpenAI's, Ahmad Al, Dahle, he's, Jim Fan, Arjun Bansal, Jensen Huang, Nathan Lambert, Lambert, Critics, Umesh Padval, " Lambert, Nvidia's, Fan, Meta's, Taka Ariga, Ariga, Claude, Elon Musk, Tesla, Nur Hamdan, OpenAI's GPT, Sam Altman, Guido Appenzeller, Thomvest's Padval, Padval Organizations: Meta, AFP, Getty, Microsoft, Industry, Linux, Microsoft Windows, Facebook, Twitter, Finance, Google, AI Research, FAIR, Apple, Nvidia, Web Services, Thomvest Ventures, TC Cowen, United, United Arab Emirates, U.S, Government, AWS, Bloomberg, Amazon, VMware, Intel, Red Hat Locations: Menlo Park , California, Taiwan, United Arab, Washington, Elon, Hamadan, Seoul, South Korea

Developers, financial advisers and bondholders said that could make debt restructuring terms much worse than expected earlier. DEFAULTING DEVELOPERSThe property sector accounts for roughly a quarter of the world's second-largest economy. That could trigger off one of the world's biggest debt restructuring exercises. However, a turnaround (in the property sector) may need more," said Chuanyi Zhou, Asia corporate analyst at Columbia Threadneedle Investments, which holds Sunac's bonds. Chinese policymakers rolled out a range of support measures in late August and early September to revive the property sector.

Persons: Shimao, Chuanyi Zhou, Yuzhou, Edward Al, Clare Jim, Xie Yu, Davide Barbuscia, Sumeet Chatterjee, Kim Coghill Organizations: HONG KONG, JPMorgan, HK, Shimao, CIFI Holdings, Columbia Threadneedle Investments, Developers, Reuters, Kaisa, Columbia, China Index Academy, Thomson Locations: HONG, China, Asia, Hong Kong, New York

☆ Can China's economy reverse a sluggish 2023 in the last quarter? Here's what to watch
▼ + stars: | 2023-09-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

In 2020, Beijing tried to rein in real estate developers' high reliance on debt with new restrictions on financing. "The decline in the real estate sector was the result of the government's intentional measures to correct the bubbles in the market," Yao said. But he and other economists mostly don't expect real estate to return to significant growth in the future. Morgan StanleyThis week, worries about China's real estate sector persisted with highly indebted Evergrande running into more liquidity problems — along with reports Wednesday its chairman has been put under surveillance. This month, weekly data from Nomura indicate the real estate sales slump has moderated.

Persons: Stringer, Yao Yang, Yao, Dan Wang, Morgan Stanley, Clifford Lau, William Blair, China's, Robin Xing, there's, Bruce Pang, Pang doesn't Organizations: Afp, Getty, National School of Development, Peking University, Hang, China Center for Economic Research, Communist Party, Financial Work, Communist Party of, Nomura, CNBC Locations: Chongqing, China, BEIJING, Covid, Beijing, Shanghai, Hang Seng China, Communist Party of China, JLL

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