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☆ Wall Street’s been on a two-year tear. Can the party last?
▼ + stars: | 2024-10-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Wall Street traders are popping champagne and toasting the two-year anniversary of a period of outsized gains known as a bull market. What makes this bull market unusual is how much uncertainty and economic worry investors have had to contend with during its run. Historically, bull markets recover around 194% of the previous downturn, according to Sam Stovall, chief investment strategist at CFRA. While the first two years of a bull market often see significant gains, history shows that the third year can bring challenges, said Stovall. On average, bull markets entering their third year post a modest return of just 2%.

Persons: Stocks, Sam Stovall, Adam Turnquist, Quincy Krosby, “, Stovall Organizations: New, New York CNN, Wall, LPL, LPL Financial, Federal Locations: New York, Europe, East

☆ Nobel economics prize goes to global inequality researchers
▼ + stars: | 2024-10-14 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

Three U.S.-based academics won the 2024 Nobel economics prize on Monday for their research into why global inequality persists, especially in countries dogged by corruption and dictatorship. The laureates have demonstrated the importance of societal institutions for achieving this,” said Jakob Svensson, Chair of the Committee for the Prize in Economic Sciences. Last year, Harvard economic historian Claudia Goldin won the prize for her work highlighting the causes of wage and labour market inequality between men and women. In 2019, economists Abhijit Banerjee, Esther Duflo and Michael Kremer won the award for work on fighting poverty. The economics prize has been dominated by U.S. academics since its inception, while U.S.-based researchers also tend to account for a large portion of winners in the scientific fields for which 2024 laureates were announced last week.

Persons: Simon Johnson, James Robinson, Daron Acemoglu, ”, Jakob Svensson, Alfred Nobel, Acemoglu, ” Acemoglu, Johnson, Robinson, Milton Friedman, John Nash —, Russell Crowe, Ben Bernanke, Claudia Goldin, Abhijit Banerjee, Esther Duflo, Michael Kremer, Victor Ambros, Gary Ruvkun, Japan’s Nihon Organizations: Royal Swedish Academy of Sciences, Economic Sciences, Bank, Sveriges, Massachusetts Institute of Technology, University of Chicago, Technology, Federal, Research, Harvard, U.S Locations: U.S, Hiroshima, Nagasaki

But Harris faces ongoing challenges in finding Muslim and Arab community leaders willing to publicly embrace her and risk blowback from their own constituents angered by the continued U.S. support for Israel’s war in Gaza and Southern Lebanon. Most Muslims have been reliable Democratic voters in recent years. How could you support a genocidal candidate?’” Osama Siblani, the publisher of the Dearborn, Michigan-based Arab American News, said of Harris endorsers. Stein’s vice presidential running mate, Butch Ware, a left-wing Muslim professor who has celebrated Hamas’ Oct. 7 terror attack, said Muslims who support Harris will burn in hell for it. “Throughout her career, Vice President Harris has been steadfast in her support of our country’s diverse Muslim community,” said Nasrina Bargzie, the campaign’s director of Muslim and Arab American outreach.

Persons: Mohammed Hassan, Kamala Harris ’, “, ‘, ’ ” Hassan, Hassan, Harris, “ They’re, They’re, ’, Osama Siblani, Harris endorsers, Siblani, ” Siblani, they’ve, Keith Ellison, Illhan Omar, Rashida, Trump, ”, Donald Trump, Ruwa Romman, Joe Biden’s, Romman, ” Romman, Jill Stein, Stein, Butch Ware, Nimrod, Pharoh, Caesar, Yazid, Hudhayfah Ahmad, Biden, Harris ’, Ro Khanna, Kamala Harris, ” “ We’re, ’ ”, Jim Zogby, Zogby, Hubert Humphrey, Lyndon Johnson’s, Walz, Biden —, Benjamin Netanyahu, Nasrina Bargzie Organizations: Michigan, Democratic, Arab America PAC, Harris, Democratic National Convention, Democrats, American Democrat, Georgia State Rep, Israel, National Arab American Convention, Green Party, Trump, Abandon, ”, Arab American Institute, longtime Democratic National Committee, Democratic Convention, Democrat, Washington Locations: Hamtramck , Michigan, Michigan, U.S, Gaza, Southern Lebanon, Dearborn , Michigan, Dearborn, Lebanese American, South, Minnesota, Palestinian, Hamtramck, Israel, Vietnam, Monaco, Selma , Alabama, Arab American

HONG KONG — China conducted large-scale military drills around Taiwan on Monday in what it said was a warning to “independence forces” on the Beijing-claimed island. The exercises had been expected after Beijing criticized a speech last week by Taiwan President Lai Ching-te. China, which has not ruled out the use of force in achieving its unification goal, views Lai as a separatist and a “troublemaker.” The Chinese military also held two days of “punishment” drills around Taiwan after his inauguration in May. “The existence of the Republic of China is an undeniable fact,” it said in a statement, using the formal name for Taiwan. Lai said in his speech that Taiwan and China were “not subordinate to each other.”“On this land, democracy and freedom are growing and thriving.

Persons: ”, Lai Ching, Lai, Li Xi, Mao Ning Organizations: Taiwan, Chinese Defense Ministry, ‘ Taiwan, Theater Command, Taiwan’s Ministry of National Defense, Mainland Affairs Council, Chinese Communist Party, Foreign Ministry Locations: HONG KONG — China, Taiwan, Beijing, China, ‘ Taiwan Independence, Republic of China, Taiwan Strait, ” China, People’s Republic of China

☆ SuperLimbs: Wearable robotic limbs could help astronauts recover from falls
▼ + stars: | 2024-10-14 | by ( Amy Gunia | ) edition.cnn.com time to read: +11 min

That includes researchers at the Massachusetts Institute of Technology (MIT), who are developing a set of wearable robotic limbs to help astronauts recover from falls. When the wearer falls over, an extra pair of limbs can extend out to provide leverage to help them stand, conserving energy for other tasks. The study found that falls were more common when, like Duke, astronauts were collecting samples or using tools – tasks that Artemis astronauts are likely to undertake. Kim Shiflett/NASA NASA astronaut Eric Boe wears Boeing's new spacesuit designed for astronauts who will fly on the CST-100 Starliner. Ballesteros plans to spend the next few years of his PhD using a “Swiss Army Knife technique” to turn SuperLimbs into a system for astronauts that can “address different important use cases, but all be one unified design.”SuperLimbs could help astronauts recover from falls, move efficiently, and do work.

Persons: haven’t, Artemis, Charlie Duke, Duke, Walter M, Schirra Jr, Donald K, Slayton, John H, Glenn Jr, Scott Carpenter, Alan B, Shepard Jr, Virgil I, Grissom, Gordon Cooper Jr, John W, Michael Collins, Edwin E, Aldrin Jr, Buzz Aldrin, Neil A, Armstrong, Aldrin, Joe Engle, Richard Truly, John Young, Bruce McCandless, McCandless, Robert L, Stewart, Michael J, McCulley, Franklin R, Chang, Diaz, Ellen S, Baker, Shannon W, Donald E, Williams, Michael Fincke, Yury Lonchakov, Kennedy, Center's Neil A, Jessica Watkins, Bob Hines, Kjell Lindgren, Samantha Cristoforetti, Kim Shiflett, Eric Boe, Boeing Dustin Gohmert, NASA's, Joel Kowsky, NASA Kristine Davis, SuperLimbs, Harry Asada, Erik Ballesteros, Ballesteros, it’ll, ”, Jonathan Clark, ” Ballesteros, Ana Diaz Artiles, Kalind Carpenter, Preston Rogers, Mirza Samnani Organizations: CNN, Massachusetts Institute of Technology, MIT, University of Michigan, National Aeronautics and Space Administration, NASA, Mercury, Command, NASA Space Shuttle, Challenger, NASA's, NASA NASA, Russian Sokol, International Space, SpaceX, Armstrong Operations, Boeing, Orion, Space, Space Center, Extravehicular Mobility, UPI, Jet Propulsion, SuperLimbs, Neurology, Space Medicine, Baylor College of Medicine, Texas, Swiss Locations: Tranquility, Russian, Washington ,, Washington, Japan, Mars . China

☆ 4 stocks set to benefit from China's stimulus measures while also hedging geopolitical risk: $21 billion firm's portfolio manager
▼ + stars: | 2024-10-14 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

The Chinese stock market soared after news of a stimulus package but plunged again on Wednesday. Risk remains high in Chinese stocks, which is why investors should exercise caution. The recent volatility in the Chinese market doesn't come as a surprise to Zehrid Osmani, portfolio manager at $21 billion Martin Currie. Valuations are low coming out of the pandemic, creating an attractive entry point into the market, Osmani said. He points to some structural challenges the Chinese economy faces, such as an aging population and a slump in the property sector.

Persons: —, Zehrid, Martin Currie, Osmani Organizations: Service, Investor, Bank of America, Companies, Martin Currie Global Portfolio Trust Locations: China, Shanghai, Beijing, Taiwan, Omani

☆ An options trade on a Boeing supplier that could get dragged down by its customer's woes
▼ + stars: | 2024-10-14 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

Howmet also produces parts used in gas turbines (power generation) and precision castings, fasteners, and other components for automotive applications. Over the past few years, Howmet has grown revenues, net income, and free cash flow considerably faster than the economy's overall growth. About 5.7% of Howmet's revenue comes from Boeing , which is greater than 4.6% of its revenues from Airbus. However, some of the company's revenues are derived indirectly from jet engine manufacturers General Electric, 12% of revenues, and Rolls-Royce, which represents 5.34%. Over the past five years, Howmet shares have appreciated by 370%, outperforming the S & P by more than 260% and the industrials index by about 280%.

Persons: Howmet Organizations: Howmet Aerospace, Aerospace, Boeing, Airbus, Electric, Royce, CNBC, NBC UNIVERSAL

☆ Budget brands are winning in China as people turn to cheap food and fashion
▼ + stars: | 2024-10-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

Companies like Japan's Saizeriya, Yum China, and Fast Retailing have recently reported strong sales. There are similarities between Japan's "Lost Decade" of economic stagnation in the 1990s, after the country's asset and credit bubbles burst, and China's economic downturn now. The ethos has benefited companies with budget offerings, including Yum China, which operates KFC and Pizza Hut in the country. Intense competitionHowever, China's market is a fast and furious one — even for winners — and the country's economic downturn has created cut-throat competition with aggressive price wars. As China's economic malaise deepened, boba tea went from premium pricing around $3.50 to $5.50 on average to as little as $1 or less over the last few years.

Persons: —, Hideharu Matsutani, Matsutani, Saizeriya, MingYii Lai, Lai, Uniqlo, boba, Jason Yu, Kantar, BI's Matthew Low, Allison Malmsten Organizations: Retailing, Service, McKinsey, Tokyo Stock Exchange, Daxue Consulting, Shoppers, Yum, Fast Retailing, — Locations: China, Japan, Beijing, Greater China, Yum China

☆ Paris Motor Show director says consumers are ready to be more green, but not at any cost
▼ + stars: | 2024-10-14 | 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 EmailParis Motor Show director says consumers are ready to be more green, but not at any costSerge Gachot, director of the Paris Motor Show, joins CNBC's Charlotte Reed live from the event to discuss the the European auto industry and the challenges of the transition to electric vehicles.

Persons: Serge Gachot, Charlotte Reed Organizations: Paris

☆ Job seekers are getting increasingly bold by 'cheating' in interviews — and AI is making it worse
▼ + stars: | 2024-10-14 | by ( Tim Paradis | ) www.businessinsider.com time to read: +8 min

Job seekers sometimes use AI to cheat in interviews, which highlights flaws in the hiring process. It can feel like there are endless ways to dupe a hiring manager in a job interview — especially one that doesn't involve meeting IRL. It all points to a hiring process that can be terrible for job seekers — and for employers. Is using AI during a job interview cheating? Kanny uses reviews from a job candidate's colleagues — past and present — to rate the person's integrity, accountability, respect, humility, confidence, and grit.

Persons: —, Lindsey Zuloaga, Greg Yang, he'd, claude, Yang, HireVue's, Zuloaga, Kirthiga Reddy, Reddy, Sean Vassilaros, It's, Octavius A, Newman, didn't, Jennifer Schielke, Schielke, Ravin, Mercer, I'm Organizations: Service, Executives, xAI, Employers, Facebook, BI, Group Solutions Locations: India, South Asia

☆ How UnitedHealthcare is transforming the prior authorization process for patients and providers
▼ + stars: | 2024-10-14 | by ( Sponsor Post | Sponsored Unitedhealthcare | ) www.businessinsider.com time to read: +7 min

While there's a lot of buzz around prior authorization, it applies to fewer than 2% of claims. UnitedHealthcare is reducing prior authorization requirements with new initiatives to ease administrative tasks and other challenges. According to Dr. Anne Docimo, chief medical officer at UnitedHealthcare, prior authorization is an oft-maligned but necessary part of our health care system. *Understanding when prior authorization is neededDocimo said UnitedHealthcare may seek prior authorization in several scenarios. Modernizing and streamlining the prior authorization processPeople may be surprised to learn that scenarios where prior authorization often comes into play are relatively rare.

Persons: it's, Dr, Anne Docimo, Docimo, UnitedHealthcare, It's Organizations: Card, Insider Studios, UnitedHealthcare, Medicare Locations: UnitedHealthcare's

☆ 3 US-based academics awarded the Nobel Prize in economics for their work on wealth inequality
▼ + stars: | 2024-10-14 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

US-based academics Daron Acemoglu, Simon Johnson, and James A. Robinson won the Nobel Prize in economics. Their work has helped demonstrate how institutions affect wealth inequality, the prize committee said. AdvertisementThree economists based at US universities have been awarded the 2024 Sveriges Riksbank Prize in Economic Sciences for their work on how institutions affect wealth inequality. Daron Acemoglu, Simon Johnson, and James A. Robinson will share the $1.1 million prize money, the prize committee said. The prize, known in its entirety as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is widely considered the most prestigious prize in the field.

Persons: Daron Acemoglu, Simon Johnson, James A, Robinson, —, Alfred Nobel, Jakob Svensson, Acemoglu, Johnson, Jan Teorell, Robinson “, ” … Organizations: Service, Sveriges, Economic Sciences, Royal Swedish Academy of Sciences, Massachusetts Institute of Technology, University of Chicago's Pearson Institute, Global, International Monetary Fund, Prosperity Locations: Acemoglu

☆ Russia pitches trading centers in a widening plan to move away from the US-dominated global financial order
▼ + stars: | 2024-10-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Russia is proposing alternative payment systems and commodity centers. Challenges include entrenched dollar dominance and existing global trading systems' liquidity. Other than championing alternative payment systems based in non-dollar currencies, Russia is also pitching the set-up of centers for mutual trade in commodity resources. Moving BRICS trade to trading centers within the bloc would also involve the use of local currencies and facilitate a move away from using the dollar for trade, according to the document. Russia faces an uphill battle in changing the basics of dollar-dependent financial trading systems.

Persons: —, Yakov, Brent Organizations: Service, Russia's Finance Ministry, Partners, Tass, Chicago Mercantile Exchange, Grain, country's Agriculture Ministry, Brent, International Monetary Fund Locations: Russia, Moscow, Ukraine, Brazil, India, China, South Africa, Russian, Pakistan, Kazan, masse, Scotland

☆ New lawsuits against TikTok mirror those against Big Tobacco and Purdue Pharma
▼ + stars: | 2024-10-14 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +5 min

Attorneys general in 14 different states filed lawsuits against TikTok last week. The suits mirror earlier ones against Big Tobacco and Purdue Pharma, legal experts told BI. The Sackler family, owners of Purdue Pharma, ultimately paid over $3 billion in settlements for misleading advertising related to their products. Purdue Pharma later filed for bankruptcy, but the Supreme Court struck down a $7 billion bankruptcy plan in June that would have given the Sackler's immunity from future civil suits. With the prospect of that federal ban looming next year, a slew of federal lawsuits helps shape public opinion and "pressure lawmakers to act," Rahmani said.

Persons: —, Adam Wandt, John Jay, Wandt, It's, wouldn't, Rahmani, Sackler, TikTok Organizations: TikTok, Big Tobacco, Purdue Pharma, Service, John, John Jay School of Criminal, Big Tech, Meta, Google, NPR Locations: California, United States

☆ Emirates really isn't happy with Boeing — and will be having a 'serious conversation' about the latest 777X delay
▼ + stars: | 2024-10-14 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Emirates' president criticized Boeing over further delays to the 777X jet delivery. Emirates has ordered 262 of the 777X, making it the biggest customer of the much-delayed jet. AdvertisementThe president of Emirates, one of Boeing's biggest customers, has slammed the planemaker after it announced a further delay to its much-anticipated 777X jet. The Boeing 777X has revolutionary folding wingtips that are a first in commercial aviation. Related storiesSheikh Ahmed bin Saeed Al Maktoum, the Emirates CEO, previously said the 777X delays would force it to use existing jets for longer than planned, Reuters reported.

Persons: Tim Clark, —, Sir Tim Clark, Taylor Rains, Kelly Ortberg, Clark, Sheikh Ahmed bin Saeed Al Maktoum, Ortberg Organizations: Boeing, Emirates, Service, Business, Alaska Airlines, Boeing 777X, Reuters Locations: Seattle

☆ Goldman Sachs raises China growth outlook on optimism over Beijing's fresh push to revive struggling economy
▼ + stars: | 2024-10-14 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Goldman Sachs analysts upgraded their growth forecast for China from 4.7% to 4.9% for this year. AdvertisementChina may not fall too short of its growth targets this year after all, Goldman Sachs analysts said. The analysts also upgraded their growth forecast for next year, from 4.3% to 4.7%. Advertisement"The '3D' challenges - deteriorating demographics, a multi-year debt deleveraging trend, and the global supply chain de-risking push are unlikely to be reversed by the latest round of policy easing," they added. China's recent stimulus pushes have aimed to prop up its weak economy, which has been plagued by a struggling property sector and weak domestic demand.

Persons: Goldman Sachs, —, Goldman, China's Organizations: Service, Ministry of Finance, National Development, Reform Locations: China, Beijing

☆ Singaporeans are used to paying less than $5 for a meal. This 30-year-old chef charges double, and diners keep coming.
▼ + stars: | 2024-10-14 | by ( Erin Liam | ) www.businessinsider.com time to read: +9 min

She went on to open a hawker stall selling prawn noodles, which later expanded into a casual eatery. When Dave Pynt, the chef-owner of Australian-inspired barbecue restaurant Burnt Ends, visited her school for a guest lecture on wood-fire cooking, she was intrigued. Shifting the focus to local cuisineA bowl of prawn noodles costs between SG$14 to SG$20 at Zhup Zhup. A hawker stall seemed like the perfect sandbox to test her ideas without spending a lot on overhead costs. The challenges of running a hawker businessThree years in, the hawker stall had just managed to earn back its capital.

Persons: Gwyneth Ang, Ang, —, she's, Erin Liam, Dave Pynt, hawker, Erin Liam So, pao, Darren Ang, Pynt, Erin Liam Singapore's, Teo Kay Key, Cherry Tan, Shanice Lim, nasi, Lim Organizations: Michelin, Service, Business, Culinary Institute of America, hawker, Department of Statistics, Institute of Policy Studies, National University of Singapore, Singapore Airlines Locations: Singapore, New Bahru, hawker, Macpherson, Pynt

☆ The risk for Boeing right now is overpromising and underdelivering, says RBC's Ken Herbert
▼ + stars: | 2024-10-14 | 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 EmailThe risk for Boeing right now is overpromising and underdelivering, says RBC's Ken HerbertKen Herbert, RBC Capital aerospace and defense analyst, joins 'Squawk box' to discuss the challenges facing Boeing, impact of the machinists strike on the company, state of the aerospace and defense sector at large, competition with Airbus, and more.

Persons: Ken Herbert Ken Herbert Organizations: Boeing, RBC Capital, Airbus

☆ China's Ministry of Finance is taking aim at local debt problems before tackling broader economic challenges
▼ + stars: | 2024-10-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — China's Ministry of Finance press briefing over the weekend underscored how it is focused on tackling local government debt problems, instead of the stimulus markets have been waiting for. In his opening remarks on Saturday, Minister of Finance Lan Fo'an laid out four measures, starting with increasing support for local governments in resolving debt risks. China's real estate market slump has cut into a significant source of revenue for local governments, many of which struggled financially even before needing to spend on Covid-19 measures. He added that a large plan to address local governments' hidden debt would be announced in the near future, without specifying when. Historically, local governments were responsible for more than 85% of expenditure but only received about 60% of tax revenue, Rhodium Group said in 2021.

Persons: Finance Lan Fo'an, Lan, Robin Xing, Morgan Stanley Organizations: Goldin Finance, Nurphoto, Getty, BEIJING, China's Ministry, Finance, Ministry of Finance, International Monetary Fund Locations: Tianjin, China, Covid

☆ China driving oil markets in a 'different way' this year: S&P Global
▼ + stars: | 2024-10-14 | 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 EmailChina driving oil markets in a 'different way' this year: S&P GlobalKang Wu, Global Head of Oil Demand Research at S&P Global, talks about China's impact on oil markets, and flags the persisting challenges for the country's oil demand.

Persons: Kang Wu Organizations: of Oil Demand, P Global Locations: China

☆ Elliott asks for December special meeting at Southwest Airlines, cuts board slate to 8
▼ + stars: | 2024-10-14 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Elliott Investment Management has requested a special meeting at Southwest Airlines , formalizing the launch of a long-signaled proxy fight for control of the carrier's board. Elliott has also trimmed the size of its board slate from 10 director candidates to eight, after Southwest shrunk its board size from 15 to 12. CNBC reported last month that Elliott was preparing to call a special meeting. David Hess, who joined Southwest's board in 2021, was also on the board of Arconic in the midst of its proxy fight with Elliott. Elliott has never before called for a special meeting, which at Southwest carries a higher threshold of approval compared with voting at a regularly scheduled shareholder meeting.

Persons: Elliott, Bob Jordan, Gary Kelly, David Hess, Elliott . Hess, Jordan, Southwest's, John Pike, Bobby Xu, — CNBC's Leslie Josephs Organizations: Hartsfield, Jackson Atlanta International, Elliott Investment Management, Southwest Airlines, Southwest, CNBC, Alcoa, Artisan Partners, Salesforce, Starbucks Locations: Atlanta , Georgia

☆ It's the first day for Nike's new CEO. He has a long road ahead.
▼ + stars: | 2024-10-14 | by ( Alex Bitter | Jordan Hart | ) www.businessinsider.com time to read: +4 min

Nike veteran Elliott Hill started as the new CEO on Monday. Hill, a Nike veteran who retired in 2020, is tasked with getting the sneaker and apparel giant back on track. Related storiesThree decades with Nike — and now, a new chapterHill joined Nike in 1988 as an apparel sales representative intern, according to his LinkedIn profile. AdvertisementIndeed, Hill's long history at Nike is a contrast with his predecessor, John Donahoe, who joined the company as CEO in 2020. He will serve as president and CEO and hold a director position on Nike's board.

Persons: Elliott Hill, Hill, Nike, —, He'll, Louise Deglise, he's, Thomas Roulet, John Donahoe, Donahoe, Matthew Friend Organizations: Nike, Service, Air Force, Air, Favre, GlobalData, Bloomberg, Nike —, University of Cambridge's Judge Business School, eBay

☆ Nike has to reinvest back into R&D and demand creation, says Barclays' Adrienne Yih
▼ + stars: | 2024-10-14 | 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 EmailNike has to reinvest back into R&D and demand creation, says Barclays' Adrienne YihAdrienne Yih, Barclays analyst, joins 'Squawk Box' to discuss the new leadership team at Nike, the challenges facing new CEO Elliott Hill, and more.

Persons: Adrienne Yih Adrienne Yih, Elliott Hill Organizations: Nike, Barclays

☆ Dollar extends gains while investors parse China's stimulus plans
▼ + stars: | 2024-10-14 | by ( ) www.cnbc.com time to read: +4 min

The dollar extended its gains in early Monday trades in Asia as a holiday in Japan sapped liquidity, leaving China's somewhat disappointing weekend stimulus announcements the focus of market attention. The dollar extended its gains in early Monday trades in Asia as a holiday in Japan sapped liquidity, leaving China's somewhat disappointing weekend stimulus announcements the focus of market attention. "Markets are likely disappointed that China's Finance Ministry did not unveil concrete additional stimulus," said Richard Franulovich, head of FX strategy at Westpac, in a note. The yuan is down 0.9% against the dollar since Sept. 24, when the People's Bank of China kicked off China's most aggressive stimulus measures since the pandemic. The yen and euro both fell around 0.3% each, sterling shed 0.4% and the dollar index climbed 0.4%.

Persons: Lan Foan, Richard Franulovich, Christopher Wong, Christopher Waller Organizations: Federal Reserve, Finance, China's Finance Ministry, Westpac, People's Bank of China, CSI, Fed, Traders, New Zealand Locations: Asia, Japan, China, Singapore, U.S, United States

☆ China launches war games around Taiwan, drawing ire from Taipei, Washington
▼ + stars: | 2024-10-14 | by ( ) www.cnbc.com time to read: +3 min

Taiwan President Lai Ching-te gives a keynote address on national day to mark the 113th birthday of the Republic of China, Taiwan's formal name, in Taipei, Taiwan October 10, 2024. The Chinese military's Eastern Theatre Command said the "Joint Sword-2024B" drills were taking place in the Taiwan Strait and areas to the north, south and east of Taiwan. In 2022, shortly after then-U.S. House Speaker Nancy Pelosi visited Taiwan, China fired missiles over the island. Taiwan's China policy making Mainland Affairs Council said that China's latest war games and refusal to renounce the use of force were "blatant provocations" that seriously undermined regional peace and stability. Joseph Wu, the secretary-general of Taiwan's National Security Council, said Taiwan would "stay alert" but would remain "moderate and responsible, maintain status quo across the Taiwan Strait."

Persons: Lai Ching, Ann Wang, Lai, Nancy Pelosi, Joseph Wu, Wu Organizations: Reuters China's, Eastern Theatre Command, ., Affairs Council, Taiwan's, Affairs, Taiwan's National Security Council Locations: Taiwan, Republic of China, Taipei, Taipei and U.S, China, Beijing, Taiwan Strait, Taiwan's China

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