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☆ AstraZeneca targets $80 billion in total revenue by 2030 in 'post-Covid era'
▼ + stars: | 2024-05-21 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Costfoto | Future Publishing | Getty ImagesLONDON — Pharmaceutical company AstraZeneca on Tuesday said it planned to increase its total revenue to $80 billion by 2030 — up 75% from $45.8 billion in 2023. AstraZeneca will focus on its oncology, biopharmaceuticals and rare diseases businesses and expects to release an additional 20 medicines in the next six years. "Many of them have the potential to be $5 billion drugs," Sarin noted. A company statement detailed that this revenue figure could be hit annually for many of the new medicines in peak years. "For the entire market to get replaced it will take time, but we think we have the technology today to start replacing them," Sarin told CNBC.

Persons: CNBC's Arabile Gumede Organizations: Astrazeneca, Artificial Intelligence, — Pharmaceutical, AstraZeneca, CNBC, U.S . FDA, Pharmaceuticals, Investments Locations: Shanghai, China, Europe, London, Singapore

☆ China's sweeping measures to prop up the property sector will need time to show results
▼ + stars: | 2024-05-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

A real estate construction site in Wanxiang City, Huai 'an City, East China's Jiangsu province, May 17, 2024. Future Publishing | Future Publishing | Getty ImagesBEIJING — China's sweeping moves on Friday to increase support for real estate will take time to show results, analysts said. Despite the news, S&P is still sticking to its base case from earlier in the month that China's property market is likely still "searching for a bottom," Edward Chan, director, corporate ratings, said during the firm's webinar on Monday. But he pointed out that for real estate to see significant stabilization, homebuyers' demand and confidence will need to improve after a market downturn of nearly three years. "We believe Beijing is headed in the right direction with regard to ending the epic housing crisis," Nomura's Chief China Economist Ting Lu said in a report Monday.

Persons: Huai, Edward Chan, Ting, Nomura, Goldman Sachs, Chief China Economist Hui Shan, Ting Lu, P's Chan Organizations: Future Publishing, Getty, BEIJING, Chief China Economist, China Locations: Wanxiang City, City, East China's Jiangsu, Hong Kong, Beijing, Ting Lu, China

☆ China pledges $42 billion in a slew of measures to support the struggling property sector
▼ + stars: | 2024-05-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

China announced "historic" steps to stabilize the crisis-hit property sector on May 17, 2024, allowing local governments to buy "some" apartments, relaxing mortgage rules and pledging to deliver unfinished homes. These and other measures announced Friday marked Beijing's latest efforts to address issues in the massive real estate sector. The real estate companies can then use funds earned from those sales to complete construction on other apartments, the central bank said. Pre-sold, unfinished homesFor years, many apartments in China tended to be sold before construction was finished. Nomura estimated last year there were around 20 million such pre-sold, unfinished apartments in China.

Persons: Zhu Ning, Tao Ling, Xiao Yuanqi, Larry Hu, Dong Jianguo, Lifeng, Zhu, Nomura Organizations: China, Nurphoto, Getty, Tsinghua University, People's Bank of China, National Financial Regulatory, Macquarie, CNBC, of Housing, Housing, Future Publishing Locations: BEIJING, Wanxiang City, Huai'an City, East China's Jiangsu, China

☆ Kevin Spacey receives star support as he fights to get his career back
▼ + stars: | 2024-05-16 | by ( Lisa Respers France | ) edition.cnn.com time to read: +4 min

CNN —Kevin Spacey is pushing back on the “rush to judgment” against him and is being backed by some big names as he seeks to reclaim his acting career. Sharon Stone and Liam Neeson issued statements of support for Spacey in a story by The Telegraph. Kevin Spacey in 2023. Wiktor Szymanowicz/Future Publishing/Getty ImagesThe timing of the interview comes after the release of “Kevin Spacey Unmasked,” a two-part docuseries that examines Spacey’s career and subsequent fall over the allegations of inappropriate sexual behavior. There’s a proper channel to handle allegations against me and it’s not Channel 4,” Spacey wrote.

Persons: Kevin Spacey, Sharon Stone, Liam Neeson, Spacey, Kevin, ” Stone, ” Neeson, “ Kevin, ”, Anthony Rapp, Rapp, Ridley Scott, Christopher Plummer, “, Wiktor, “ Kevin Spacey, ” Spacey, “ Spacey, Rapp . Spacey, ‘, we’d, ’ Organizations: CNN, The Telegraph, ”, Netflix, Publishing, Max, ” CNN, Old, ” Corporations Locations: London, New York

☆ How do celebrities get their hands on museum-quality gowns?
▼ + stars: | 2024-05-07 | by ( Leah Dolan | ) edition.cnn.com time to read: +12 min

But today, as more and more celebrities choose to wear vintage, the all-important stretch of red carpet has started to look more like a museum hallway. Kendall Jenner's vintage dress for the 2024 Met Gala. Mugler — the luxury French fashion house responsible for dressing Zendaya in a 30 kilogram full metal robot suit from 1995. Although interest in vintage fashion is rising amongst celebrity clients, not everyone is qualified to physically handle these pieces. John Shearer/WireImage/Getty ImagesFashion’s rat raceBut if these one-of-a-kind pieces are so fragile, and the method of their conservation so exact, how do celebrities even get their hands on them?

Persons: CNN —, Miley Cyrus, Laverne Cox, Olivia Rodrigo, Bob Mackie, ”, Vanessa Friedman, Cardi, Margot Robbie, Jennifer Lawrence, Mugler, Givenchy —, That’s, Kim Kardashian, Marilyn Monroe’s, Emily Ratajkowski, Versace, Zendaya, Givenchy, Kendall Jenner, Kendall Jenner's, Jamie McCarthy, Renée Zellweger, Jean Dessès, Julia Roberts, “ Erin Brockovich, Erin Walsh, Anne Hathaway, Selena Gomez, Sarah Jessica Parker, WWD, Wiktor, ” Adrian Corsin, Law Roach, Jean, Jacques Urcun, Marion Bourdée, Adrian, Julie Ann Clauss, Tom Ford, Calvin Klein, Marc Jacobs, Carolina Herrera, “, John Shearer, Kylie, ” Jenner, Thierry Mugler, Couturissime, ” Bourdée, Kylie Jenner, Ripley’s, ” Mugler, won’t, Walsh, ” Erin Walsh, Valentino, Karwai Tang, We’re, Kendall, ” Corsin, hasn’t Organizations: CNN, New York Times, Givenchy, London, Publishing, Brooklyn, International Council of Museums, , New York, Hollywood, SAG, Vogue Locations: Zendaya, London, France, LA, Mugler, New York, “, , New

☆ U.S. automakers like GM are rapidly losing ground in China, once an engine for growth
▼ + stars: | 2024-05-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

China was once a profit engine for GM, and its top sales market from 2010 to 2023. GM revealed several vehicles last week in China, including plug-in hybrid versions of its Buick GL8 minivan, a best-seller in China, and the Chevrolet Equinox crossover. "We think clearly that market has shifted and the landscape has shifted … with the capability of the Chinese [automakers]," Barra said. But it has had to aggressively cut prices to compete against Chinese automakers such ay BYD, Nio and others. Stellantis CEO Carlos Tavares earlier this year called Chinese automakers his company's "No.

Persons: Mary Barra, Jeff Kowalsky, we're, Barra, Paul Jacobson, GM wasn't, John Murphy, Michael Dunne, Dunne, Mark Fulthorpe, They'll, they've, Tesla, lockdowns, Elon Musk, Tingshu Wang, Reuters Tesla, Morgan Stanley, Adam Jonas, Musk, Junheng Li, Stellantis, Carlos Tavares, Zhu Jiangming, We've, We're, Ford, John Lawler, Lawler Organizations: General Motors Co, Bloomberg, Getty, General, GM, U.S, Chevrolet, SAIC, GM Pan, Asia Automotive Technology Center, Nurphoto, PSA Groupe, Chrysler, EVs, GM's, Buick, Wuling Motors, Motors, Bank of America Securities, China, Hummer, Durant Guild, America's, Detroit, P Global Mobility, Ford Motor, Tesla, Reuters, EV, Baidu, Warren Capital, Ford, Guangzhou Automobile Group, India & Asia, Lincoln, Lincoln Nautilus Locations: Detroit , Michigan, China, Barra, Beijing, Asia, Shanghai, Russia, India, Thailand, Australia, North America, South Korea, Brazil, Europe, GM's U.S, Qingdao, East China's Shandong, Indonesia, U.S, Nio, Greater China, South America

☆ How previous investing mistakes are shaping my thinking on the latest stock gone wrong
▼ + stars: | 2024-05-05 | by ( Jim Cramer | ) www.cnbc.com time to read: +19 min

Three times a day we would gather "off the desk," and I would have to defend every stock we owned. First, there's the obvious mistakes that we have made: Bausch Health and Foot Locker . To signify the changes, he renamed it Bausch Health in 2018, after the eye-care company Valeant bought for $8.7 billion five years earlier. We thought the IPO market would come back, and Bausch Health would win the lawsuit and all would be back on track. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jeff Marks, Karen Cramer, Cramer, Karen, Max Palevsky, It's, Joseph Papa, Clint Eastwood, Papa, Jim Cramer, Valeant, Bausch, Locker, Mary Dillon, Dillon, Wall, Emerson, Cristiano Amon, Laxman Narasimhan, Howard Schultz, Narasimhan, Benckiser, Kevin Johnson, Schultz, Johnson, it's, —, Foot Locker, Jim Cramer's, Jim Organizations: Cramer &, Intel, Charitable Trust, Co, Starbucks, Bausch Health, Pharmaceuticals, Perrigo, Health, Norwich Pharmaceuticals, Former, Emerson Electric, Qualcomm, National, Eaton Corp, Broadcom, Palestine, PepsiCo, Nestle, Elliott Management, Emerson, CNBC, Getty Locations: China, —, Israel, U.S, BHC, FL, Jinan, East China's Shandong province

☆ Armies need their own drone air force flown by specialist soldiers, study says
▼ + stars: | 2024-05-04 | by ( Michael Peck | ) www.businessinsider.com time to read: +8 min

The air war in Ukraine has become a cat-and-mouse game where drones must constantly evolve. AdvertisementRUSI envisions each drone battalion being equipped with everything needed to conduct a variety of UAV operations. This would include "situational awareness UAVs optimized for tactical reconnaissance; tactical strike UAVs; ISR [reconnaissance] UAVs able to penetrate into operational depth; operational strike UAVs; and platform-launched effects designed specifically to synchronize with and enable other weapons systems." To support friendly ground troops in contact with the enemy, flocks of expendable reconnaissance drones would operate up to 5 miles beyond the enemy front line. AdvertisementA Ukrainian serviceman launches a drone during a press tour in the Zhytomyr Region, northern Ukraine on September 20, 2023.

Persons: —, Jack Watling, Justin Bronk, Kirill Chubotin, Michael Peck Organizations: Service, Royal United Services Institute, Ukrainian, Staff, Publishing, Getty, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Ukraine, British, Zhytomyr Region, Forbes

☆ China's true military spending in 2022 was likely worth $711 billion, or 'nearly equal' to the US military budget that year: US think tank
▼ + stars: | 2024-05-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

A new report says China's $229 billion military budget in 2022 was actually equivalent to $711 billion. AdvertisementIn June 2023, Sen. Dan Sullivan of Alaska warned Congress that China's military was catching up to America's faster than previously imagined. That makes Beijing's spending in 2022 "nearly equal" to the US defense budget of about $740 billion that year, wrote Eaglen, a senior fellow at AEI. Using that factor, Eaglen wrote that it's highly likely China's spending on personnel that year was worth $293 billion of US military spending. US military spending is also often cited as higher than the actual defense budget.

Persons: —, Sen, Dan Sullivan, Mackenzie Eaglen, Sullivan, Eaglen, haven't Organizations: AEI, Service, Republican, American Enterprise Institute, Pentagon, Beijing, United Nations, Labor, US Army, People's Armed Police, Liberation Army's, Publishing, Getty, China's, Guard Locations: Alaska, Beijing, Washington, China, Nanning, South, Guangxi Zhuang Autonomous, United States

☆ Estee Lauder is punished for its light guidance. Here's why we are not joining the sellers
▼ + stars: | 2024-05-01 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Estee Lauder tumbled Wednesday as investors focused on the company's weak fiscal fourth-quarter outlook instead of its strong third-quarter numbers. Estee Lauder Why we own it: We see profitability improving as management executes on its turnaround plan and works to improve gross margin performance. These are signs the worst should be behind Estee Lauder. While full-year adjusted earnings are still expected to decline on an annual basis, Estee Lauder encouragingly bumped up its outlook. An Estee Lauder pop-up store is seen inside daimaru Department Store on Nanjing Road Pedestrian street in Shanghai, China, August 6, 2021.

Persons: Estee Lauder, Fabrizio Freda, Freda, Estee Lauder encouragingly, we're, That's, Estee, Jim Cramer's, Jim Cramer, Jim Organizations: Revenue, LSEG, L'Oreal, Chanel, Body, Street, Management, Wall, Japan, CNBC, daimaru, Getty Locations: LVMH, —, Asia, North America, Latin America, Mexico, Brazil, Hong Kong, China, Japan, Mainland China, Nanjing, Shanghai

☆ Biden promise to rival China on shipbuilding faces a big economic problem
▼ + stars: | 2024-04-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

The Biden administration is correct that China has not played fair. But he said the nations that could rival China in shipbuilding are Asian competitors. Shipbuilding subsequently dropped to around five ships per year, which is approximately the current rate of U.S. shipbuilding. President Joe Biden speaks to members of the United Steel Workers Union at the United Steel Workers Headquarters on April 17, 2024 in Pittsburgh, Pennsylvania. Biden announced new actions to protect American steel and shipbuilding industries including hiking tariffs on Chinese steel.

Persons: Biden, Ben Nolan, Nolan, Reagan, Joe Biden, Jeff Swensen, —, Darron, Wadey, Lloyd, Matson, George Washington, Ronald O'Rourke, O'Rourke Organizations: Mitsui Shipbuilding Co, Taicang Port Economic, Technological, Future Publishing, Getty, CNBC, Shipbuilding, Global, United States, Trade, U.S . Trade, U.S, China's Ministry of Commerce, United Steel Workers, Japan's Nippon Steel, United Steel Workers Union, United Steel Workers Headquarters, Analysts, Matson Shipping, Jones Act, Philly Shipyard, CMA CGM, Matson, United, Maritime Administration, U.S ., Huntington Ingalls Industries, News Shipbuilding, U.S . Navy, U.S Navy, Newport News Shipbuilding, Virginian Pilot, Tribune, Service, Force, warfighting, Navy, Biden, Congressional Research Service Locations: Taicang Port, Suzhou, Jiangsu province, China, U.S, Japan, South Korea, United States, Pennsylvania, Pittsburgh , Pennsylvania, American, Bangladesh, U.S . Virgin Islands, Great, Mississippi, Ohio

☆ Apple sinks to 3rd place in China as iPhone sales slide
▼ + stars: | 2024-04-23 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

A slide in iPhone sales has left Apple in third place in China, per Counterpoint Research estimates. Chinese-based rivals Vivo and Honor outpaced Apple's sales in the first quarter of the year, per Counterpoint data. AdvertisementIn stark contrast with Apple's slide, Huawei sales soared by almost 70% compared with the first three months of 2023. Counterpoint research analyst Ivan Lam said in a note that Huawei's surge had directly affected iPhone sales in China. NurPhoto/Getty ImagesDespite the stiff competition, Lam said iPhone sales could still reverse their downward slide.

Persons: —, Apple's, Ivan Lam, Apple, Tim Cook, Cook, Lam Organizations: Apple, Service, Counterpoint Research, Vivo, Huawei, China, Forum, Publishing, Getty, European Commission, Department of Justice, Business Locations: China, Huawei's, Shanghai, Beijing, Europe

☆ China sees foreign threats ‘everywhere’ as powerful spy agency takes center stage
▼ + stars: | 2024-04-21 | by ( Nectar Gan | ) edition.cnn.com time to read: +16 min

But among the crowds you and I together are protecting national security,” the narrator concludes. Chinese soldiers look at a poster promoting national security in the southwestern city of Beihai on National Security Education Day on April 15, 2024. CFOTO/Future Publishing/Getty ImagesAccording to the MSS, foreign spies are omnipresent and infiltrating everything – from mapping apps to weather stations. But China’s spy agency has gradually stepped out of the shadows as Xi makes national security a key priority. “Shenyin Special Investigation Squad” is a comic series based on real-life counterespionage operations, according to China's spy agency.

Persons: –, “, ”, Xi, Xuezhi Guo, Sheena Chestnut Greitens, Xi Jinping, Greg Baker, Mao Zedong, Greitens, Chen Yixin, Chen, “ Chen, ” Greitens, Xi –, denigrate, Bain, Alex Plavevski, Guo, influencers, China’s, can’t, James Zimmerman, Perkins Coie, Zimmerman, ” Zimmerman Organizations: Hong Kong CNN, National Security Education, “, Ministry of State Security, National Security, Publishing, CIA, National, Education, Capitol, Guilford College, Asia, University of Texas, Getty, Communist Party, FBI, National Security Propaganda, CCTV, Ministry of State, China’s National Security Commission, Group, China Development Forum, Perkins Coie LLP, ”, MSS Locations: China, Hong Kong, Beihai, British, American, Beijing, Austin, AFP, Zhejiang province, Shanghai, New York, overreaching

☆ Huawei just gave Tim Cook a new headache in China
▼ + stars: | 2024-04-19 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

AdvertisementTim Cook would like you to think everything is going swimmingly for Apple in China. It's already won over some consumers since launching the Mate 60 Pro series last year. The Huawei Mate 60 rivals the latest iPhone. They expect another decline in iPhone sales in the region in Apple's quarterly earnings on May 2. Cook might be putting on a brave face, but iPhone sales in China may keep sliding if Huawei has its way.

Persons: —, Tim Cook, Cook, there's, It's, They're, Wang Gang, Ivan Lam, Apple Organizations: Apple, Huawei, Service, Bund, Counterpoint Research, Publishing, Washington, Reuters Locations: China, Shanghai's Jing'an, Cook, iPhones, Greater China

☆ Apple believes that AI is the future
▼ + stars: | 2024-04-16 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Apple wanted all eyes to be on the Vision Pro when it launched. A report about AI chips coming to next-gen Macs helped boost Apple's stock by $112 billion. AdvertisementTwo months ago, Tim Cook was busy marking Apple's bold new vision of the future with the launch of expensive nerd goggles. Second, the future of the Vision Pro remains highly uncertain. Just don't expect the Vision Pro to steal the show in the same way a big AI reveal would.

Persons: —, Tim Cook, Bloomberg's Mark Gurman, Apple, Peter Kafka Organizations: Apple, Service, International Data Corporation, Publishing, Getty, Huawei, Apple's, Vision Locations: Cupertino, Shanghai, China

☆ Asia markets extend declines amid Iran-Israel tensions; China economic data on deck
▼ + stars: | 2024-04-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A batch of cars are ready to be shipped to overseas markets at the port of Taicang, Jiangsu province, China, April 9, 2024. Future Publishing | Future Publishing | Getty ImagesAsia-Pacific markets extended their declines as the world awaits Israel's response to Iran's air assault over the weekend. On Tuesday, China's first-quarter gross domestic product numbers will be in focus, with the world's second-largest economy expected to grow 4.6% from a year ago. Futures for Hong Kong's Hang Seng index stood at 16,430, pointing to a weaker open compared to the HSI's close of 16,600. Japan's Nikkei 225 plunged 1.5% at the open, while the broad based Topix was down 1.04%.

Persons: China's, Kospi Organizations: Future Publishing, Getty, Nikkei Locations: Taicang, Jiangsu province, China, Asia, Pacific, Australia

☆ Imports from China to the US are rising at the highest rate since last fall
▼ + stars: | 2024-04-10 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Imports coming to the U.S. from China are experiencing a notable increase, according to new trade and logistics data. The first half of 2024 is expected to total 11.7 million TEUs (twenty-foot equivalent units), an increase of 11% from the same period last year. In 2023, imports were down from 2022 by almost 13%, totaling 22.3 million TEUs. By comparison, New York/New Jersey processed 7.81 million TEUs, Georgia 5.4 million TEUs, Virginia at 3.3 million TEUs, Charleston 2.5 million TEUs, Jacksonville 1.3 million TEUs, and Miami 1.25 million TEUs. The other reason for the recent container push is fears of a labor strike at East Coast and Gulf ports.

Persons: John Gold, Francis Scott Key, Jason Hilsenbeck, Drayage.com, Paul Brashier, Brashier Organizations: Future Publishing, Getty, Global, National Retail Federation, Hackett Associates, Francis Scott Key Bridge, Miami, ITS Logistics, CNBC, Baltimore, West Coast, U.S ., Port / Railroad, Longshoremen's Association, United States Maritime Alliance Locations: Taicang, Jiangsu province, China, U.S, Panama, Port of Baltimore, East Coast, New York, New Jersey, Georgia, Virginia, Charleston, Jacksonville, Port of Virginia, Norfolk, Baltimore, NY, NJ, Norfolk and New York, West, West Coast North, U.S . East Coast, West Coast, Los Angeles, Long Beach, Long, Gulf, East

☆ Analyst forecasts a surprising source of revenue upside for chipmaker Nvidia
▼ + stars: | 2024-04-08 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

Other Wall Street analysts in recent weeks offered different views on the state of Nvidia's China-specific AI chips. Nvidia has been sampling AI chips designed to comply with U.S. government export restrictions to Chinese customers since last fall. NVDA 1Y mountain Nvidia's stock performance over the past 12 months. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Nvidia Stock Soar | Future Publishing | Getty Images

Persons: Nvidia's, Jeff Marks, Wolfe, Tencent, Biden, China –, Xi Jinping, Jensen Huang, KeyBanc, Jim Cramer's, Jim Cramer, Jim Organizations: Nvidia, KeyBanc, Markets, FactSet, Wall, Wolfe Research, U.S, Microsoft, Street, Huawei, Blackwell, Nvidia's, Taiwan Semiconductor Manufacturing Company, CNBC, Visitors, Future, Getty Locations: China, Nvidia's China, U.S, Hangzhou

☆ Estee Lauder catches a couple Wall Street endorsements but we're still skeptical
▼ + stars: | 2024-04-02 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Recent Wall Street upgrades of Estee Lauder don't change our lingering concerns over the company's underperforming stock and its business in China. Bank of America last Thursday upgraded Estee Lauder to a buy while increasing its price target to $170 from $160. Estee Lauder is expected to report its fiscal 2024 third-quarter results on May 1. EL 5Y mountain Estee Lauder 5 years Jim Cramer said Tuesday Estee Lauder "was a bad pick" for the portfolio. An Estee Lauder pop-up store is seen inside daimaru Department Store on Nanjing Road Pedestrian street in Shanghai, China, August 6, 2021.

Persons: Estee Lauder, Fabrizio Freda's, Freda, Jim Cramer, they've, Jim, Jim Cramer's Organizations: Citi, Tuesday, Bank of America, Lauder, CNBC, daimaru, Getty Locations: China, Hainan, Hawaii of China, South Korea, Nanjing, Shanghai

☆ Russian assault to capture Ukraine's 2nd-largest city can't be ruled out, commander says
▼ + stars: | 2024-03-31 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

The head of Ukraine's armed forces said a Russian offensive against Kharkiv could not be ruled out. AdvertisementThe commander in chief of Ukraine's armed forces has said a Russian attack on Kharkiv could not be ruled out. Russian forces inflicted a strike on a residential area district using a modernized UMPB D-30 guided bomb, Kharkiv, north-eastern Ukraine, March 27, 2024. The bomb, also known as a "gliding bomb," has been adapted with a guidance system and wings, enabling Russian forces to employ "stand-off" tactics and strike targets from long range. AdvertisementSuch weapons help Russian forces supplement their "inadequate" stocks of air-launched missiles and allow them to avoid using free-fall bombs that put pilots closer to the firing line, the think tank says.

Persons: Oleksandr Syrskyi, —, Ukrinform, Vladimir Putin, Putin, Sergey Bolvinov, Vyacheslav Madiyevskyy, Volodymyr Tymoshko Organizations: Kharkiv, Service, Ukrainian Soviet, Ukrainian Soviet Socialist Republic, Associated Press, Publishing, Getty Images, Reuters, International Institute for Strategic Studies Locations: Russian, Ukraine, Kharkiv, Ukrainian, Russia, Ukrainian Soviet Socialist, Getty Images Russia

☆ Why Russian separatists called an exorcist when they discovered a Ukrainian POW was an evangelical Christian
▼ + stars: | 2024-03-29 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +6 min

Viktor Cherniiavskyi said he was targeted because he was an evangelical Christian. AdvertisementA Ukrainian soldier said he was tortured by Russian separatists and forced to undergo an exorcism , partly because of his evangelical Christian faith. While serving as a volunteer in the city of Luhansk in eastern Ukraine, Cherniiavskyi said he was captured by Russian-aligned forces. Second, because I'm an evangelical Christian. "In reality, Russian society, and the Kremlin, to be more precise, hates any type of Christian denomination, bar the Orthodox Church," Cherniiavskyi said.

Persons: Viktor Cherniiavskyi, —, Cherniiavskyi, Vladimir Putin's, Putin's, NICHOLAS KAMM, Russia's, Pat Buchanan, Buchanan, Putin, Dmytro Smolienko, Pastor Dmitry Bodyu, Bodyu, Mykhailo Brytsyn, Evangelical Christians Melitopol, Pastor Brytsyn Organizations: Russia, Service, Putin's Russia, Getty, Russian Orthodox Church, Boston, Kremlin, Publishing, Atlantic Council, Reuters, Tavriski Christian Institute, Life, Russian, NBC, Dallas, Fort, Grace, Evangelical Christians, Freedom, Washington DC, Religious, Orthodox Locations: Ukrainian, Russian, Russia, Luhansk, Ukraine, Moscow, South Carolina, Crimea, Zaporizhzhia, Kherson, Melitopol, Fort Worth, Washington, Kyiv

☆ EU-China trade relations are in a 'slow-motion train accident,' business group says
▼ + stars: | 2024-03-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

"What we see right now is the unfolding of a slow-motion train accident," he told reporters at a briefing last week. "That's when trade becomes a security question and I think that is perhaps not fully appreciated in China just yet." There needs to be an honest conversation between Europe and China about what this is going to mean. The EU was China's largest regional trading partner until Southeast Asia recently surpassed it. The U.S. is China's largest trading partner on a single-country basis.

Persons: Jens Eskelund, Eskelund, I've, Markus Herrmann Chen Organizations: Future Publishing, Getty, European Union Chamber of Commerce, EU, of Commerce, Investment, China Macro Locations: Hefei, Anhui province, BEIJING, Europe, Beijing, China, Southeast Asia, U.S

☆ Teacher Li: A Chinese dissident in Europe is enraging Beijing. Now police are coming for his social media followers
▼ + stars: | 2024-03-18 | by ( Nectar Gan | Yong Xiong | ) edition.cnn.com time to read: +10 min

And now, Chinese authorities appear to be going after his followers in China. Li Ying spends most of his days in front of the computer running his X account. Li’s warnings sent shock waves through the small but influential Chinese X sphere. On X, Li Ying’s account provided a window into the outpouring of grief and disaffection. “The Chinese authorities are fearful of young people like Teacher Li, seeing him as a threat to its rule,” Wang said.

Persons: Lee, Xi Jinping, –, Li, ”, ” Lee, Li Ying, Li reposts, Elon Musk, Covid lockdowns, ” Li, “, Yaqiu Wang, ‘, ’ ”, Li Keqiang, Shen Xiang, ramped, Li Keqiang’s, Xi, it’s, it’ll, ” Wang, Wang Organizations: Hong Kong CNN, Twitter, US, Facebook, Elon, Ministry of Public Security, CNN, YouTube, Future Publishing, Getty, Freedom Locations: China, Hong Kong, Beijing, Italy, Washington, Anhui province, “

☆ China keeps on finding ways to hurt USA Inc
▼ + stars: | 2024-03-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Beijing has asked domestic EV companies to ramp up spending with local chip makers, per Bloomberg. It has bruised Tesla too, as it battles for market share with domestic EV makers competing on price. AdvertisementApple, for instance, generated almost 20% of its revenue from sales in China last year. Nvidia reported $10.3 billion in revenue from China for its last fiscal year, up from $5.8 billion the year prior. Chinese EV makers like BYD are being asked to buy chips locally instead of from US firms.

Persons: —, Tesla, BYD, Orin, Fabrice Coffrini Organizations: Bloomberg, Service, China's Ministry of Industry, Information Technology, Huawei, Publishing, Getty, Nvidia Locations: China, Beijing, BYD, Hangzhou, chipmakers, Chinese, AFP

☆ Apple's first AI move may be outsourcing the mess to Google
▼ + stars: | 2024-03-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Why handle the mess of AI by itself when it can pass it on to someone else? AdvertisementApple does, of course, want an AI strategy, despite all the mess the technology brings with it. Fresh AI features could help Apple boost falling iPhone sales in China. Fresh generative AI features could give iPhones the extra edge they need to boost sales again. In addition, Apple will have several new AI features based on its own, homegrown LLM models we expect to be unveiled at WWDC this June.

Persons: —, Tim Cook, they've, Apple, Perfectionism, Steve Jobs, Cook, OpenAI's GPT, Dan Ives Organizations: Service, Google, Bloomberg, Apple, Business, Publishing, Getty, Worldwide Locations: China, China —

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