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☆ Here are Wednesday's biggest analyst calls: Nvidia, Meta, Tesla, Chipotle, Ferrari & more
▼ + stars: | 2024-05-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla but says it's only a matter of time before others automakers begin to take advantage of AI also. Morgan Stanley reiterates Meta as overweight Morgan Stanley said that, as users adopt the company's Reels product it becomes a "monetization opportunity." Morgan Stanley reiterates Dell as a top pick Morgan Stanley said Dell remains a favorite name at the firm. Morgan Stanley reiterates McDonald's as overweight Morgan Stanley said it's standing by the fast-food chain. Morgan Stanley reiterates Ferrari as overweight Morgan Stanley said it's standing by its overweight rating on the automaker.

Persons: Morgan Stanley, Tesla, Piper Sandler, Piper, Meta, Dell, JMP, Oppenheimer, it's, Goldman Sachs, Goldman, Kraft Heinz, McDonald's, Rosenblatt, John Malone, Sportico, Morgan Stanley downgrades, Generac, Jefferies, Needham, Stryker, Ferrari, MSFT Organizations: GM, Ford, Nvidia, Blackwell, ODM, Lenovo, Dell, China Tech Hardware, Costco, " Bank of America, Bank of America, Kraft, Brunswick, UBS, Brunswick Corporation, Atlanta Braves Holdings, Deutsche Bank, Waste Management, Deutsche, Price, Jefferies, Prudential, Lincoln National, Microsoft, Garmin, of America Locations: Coinbase, Shopify

☆ China is trying to end its ‘epic’ property crisis. The hard work is just beginning
▼ + stars: | 2024-05-21 | by ( Laura He | ) edition.cnn.com time to read: +7 min

“The policymakers recognize the urgency to prevent an outright property crisis,” said Zhaopeng Xing, senior China strategist at ANZ Research. According to Goldman Sachs, the total value of unsold homes, unfinished projects and unused land in China is about 30 trillion yuan ($4.1 trillion). On Friday, Tao Ling, deputy governor of the PBOC, said the relending program could eventually underpin 500 billion yuan ($69 billion) worth of bank loans to support the buying. The Housing Ministry said Friday that local governments can instruct local state-owned enterprises to help purchase some unsold homes from developers. Just the beginningAddressing the oversupply of unsold homes is only the first step, experts say.

Persons: ”, Zhaopeng Xing, Goldman Sachs, it’s, Tao Ling, Ting Lu, Nomura, Helen Qiao, It’s, Tao, ” Jing Liu, Taylor Wang, Xing, Goldman, Donald Trump, Michelle Lam, Wei Yao, Société Générale Organizations: Hong Kong CNN —, ANZ Research, Goldman, People’s Bank of China, Greater China, Bank of America, Housing Ministry, HSBC, European Union Locations: China, Hong Kong, Hong Kong CNN — Beijing, Beijing, Greater, Société, Japan

☆ 'AI demand train running at full speed': Here's what Wall Street expects from Nvidia's 1st-quarter earnings
▼ + stars: | 2024-05-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Wall Street expects a continued increase in Nvidia's AI chip sales ahead of its next-gen Blackwell chip release. Here's what Wall Street expects from Nvidia's upcoming earnings report. Deutsche Bank: "AI leadership to continue"Deutsche Bank said it fully expects Nvidia to deliver "healthy multi-billion dollar beats/raises on still healthy demand for AI compute." However, the bank sees much of that strength already priced into the stock, leading the firm to believe that Nvidia stock is "fully valued." Bloomberg Intelligence: "Nvidia has more levers to attack the market"Bloomberg Intelligence analyst Oscar Hernandez Tejada said in a recent note he fully expects Nvidia to report "a solid beat and raise" on Wednesday, arguing that "Nvidia's AI demand train running at full speed."

Persons: —, Wells, Aaron Rakers, Rakers, Taiwan Semiconductor bode, Vivek Arya, Blackwell, Arya, NVDAs, Oscar Hernandez Tejada, Tejada Organizations: Nvidia, Service, ChatGPT, Nvidia's, Blackwell, GPU, Data, Super Micro Computer, Taiwan Semiconductor, Bank of America, Deutsche Bank, Bloomberg Intelligence, Bloomberg Locations: Wells Fargo, Wells, China

☆ China's hot EV market is no longer focused solely on lower sticker prices. Which stocks to watch
▼ + stars: | 2024-05-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Winning in China's electric car market is no longer just about having the cheapest price. Despite new U.S. tariffs , the Chinese electric car industry is already moving into a new phase of competition no longer centered on sticker prices alone, many in the industry say. Hong Kong-listed Fuyao, a major supplier of glass for cars, is one of JPMorgan's top picks to take advantage of China's growing electric car market. The Shenzhen-listed Chinese battery giant, Contemporary Amperex Technology , is one of JPMorgan's top Chinese electric car supply chain plays. Last week, Chinese electric car company Nio released a new car in a lower-priced range of just over 200,000 yuan.

Persons: Stephen Dyer, AlixPartners, BYD, Xiaomi, Tesla, Nio, William Li, — CNBC's Michael Bloom Organizations: JPMorgan, Greater, Greater China Business, Amperex, Li Auto, Tesla Locations: Hong Kong, China, Greater China, Asia, Beijing, Shenzhen

☆ Societe Generale economist discusses Chinese property market
▼ + stars: | 2024-05-17 | 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 EmailSociete Generale economist discusses Chinese property marketMichelle Lam, greater China economist at Societe Generale, discusses the potential headwinds for Chinese markets.

Persons: Michelle Lam Organizations: Societe Generale Locations: China

☆ Canada Goose jumps 16% after the company reports growth surge in China
▼ + stars: | 2024-05-16 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Shares of Canada Goose surged 16% on Thursday after the company reported earnings for the fiscal fourth quarter and announced it was expecting year-over-year sales growth for fiscal year 2025. Here's how the company did:Earnings per share: 5 Canadian cents, which may not compare with estimates of 7 Canadian cents5 Canadian cents, which may not compare with estimates of 7 Canadian cents Revenue: CA$358 million (US$263 million), which may not compare with the CA$315.5 million (US$232 million) expected by LSEG. The broader Asia-Pacific region excluding Greater China was up 29.1%, and North American sales saw an increase of 24.5%. This upbeat performance comes after the company announced back in March that it was going to cut 17% of its corporate workforce. Canada Goose reported the layoffs had generated about CA$20 million (US$14.7 million) in productivity improvements and cost savings for the fiscal fourth quarter.

Persons: Canada Goose, Neil Bowden, Bowden Organizations: Canada, LSEG, Revenue, North, Asia Pacific Locations: Canada, Greater China, Mainland China, Hong Kong, Macau, Taiwan, Asia, Pacific, China, Macao, North America

☆ YouTube says it will block videos of Hong Kong protest anthem following court order
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: +2 min

Alphabet's YouTube on Tuesday said it would comply with a court decision and block access inside Hong Kong to 32 video links deemed prohibited content, in what critics say is a blow to freedoms in the financial hub amid a security clampdown. The action follows a government application granted by Hong Kong's Court of Appeal requesting the ban of a protest anthem called "Glory to Hong Kong." In comments criticizing the court order, YouTube said the ruling would raise skepticism around the Hong Kong government's work to foster the digital economy and reclaim its reputation as a predictable place for doing business. "If you start to send platforms 100 or 1,000 links for takedown every day, this will drive platforms crazy and also make global investors more worried about Hong Kong's free market environment. How predictable and how stable the policy environment is matters a lot to foreign investors, and Hong Kong is now at a crossroads to defend its reputation."

Persons: Hong Kongers, We'll, George Chen, Chen, Hong Organizations: YouTube, Hong, Appeal, U.S ., Asia Group, Washington DC, Meta Locations: Hong Kong, Hong Kong's, Washington, Greater China

☆ Apple, Tesla and Starbucks struggle in China’s economic slump after making a fortune for decades
▼ + stars: | 2024-05-13 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —For decades, Western companies made a fortune betting on the inexorable rise of the Chinese consumer. Now an economic slump and the emergence of ferocious local competitors means those bets look less safe as price wars erupt. Tesla’s China market share shrank to 4% in April, almost halving from 7.7% in March, according to data released by the China Passenger Car Association on Friday. In the 1990s, “every company in the West” was hiring consultants and having boardroom meetings about how to do more in China, according to Stevenson-Yang. He added that he continues to feel optimistic about the Chinese market in the long term.

Persons: ”, Anne Stevenson, Yang, Stevenson, aren’t, Yang Wang, Kevin Frayer, Tim Cook, iPhones, Cotti, Luckin, Belinda Wong, “, McDonald’s, Wallace Organizations: Hong Kong CNN, China Passenger Car Association, J Capital Research, EV, Apple, Starbucks, Counterpoint Research, Macao —, Huawei, China Academy of Information, Communications Technology, Luckin Coffee, McDonalds, KFC, Burger Locations: China, Hong Kong, Shanghai, United States, Germany, Brazil, Beijing, Greater China, Taiwan, Macao, Starbucks China, Dominos, India

☆ Top Wall Street analysts are feeling confident about these 3 stocks after earnings
▼ + stars: | 2024-05-12 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

Bearing that in mind, here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. Silberman noted that U.S. same-store sales growth of 5.6% reflected broad-based momentum, with improved traffic experienced in carryout and delivery. She added that the traffic growth was driven by Domino's revamped loyalty program, strong value proposition, operations and innovation. The analyst also noted that DPZ is benefiting from increased contributions from Uber Eats, thanks to growing marketing efforts and awareness. The analyst thinks that the company's strategic initiatives will enhance same-store sales growth and drive meaningful restaurant margin expansion in the near and long term.

Persons: Lauren Silberman, Silberman, Domino's, Uber, TipRanks, BTIG, Peter Saleh, Saleh, Baird, William Power, Power Organizations: Wall Street, U.S, Deutsche Bank, Investors, Apple's, Apple Locations: China, TipRanks

☆ 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

☆ Are iPhone sales growing or shrinking in China? That depends on which data points you look at, says an analyst.
▼ + stars: | 2024-05-06 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Tim Cook said iPhone sales grew in China, despite external research showing a decline. China accounted for 18% of Apple's sales, making it a critical market for the tech giant. However, over the last quarter, independent analysts have reported a slump in overall iPhone sales in China. iPhone sales in China are a closely watched metric because greater China accounted for 18% of Apple's sales across products in the first quarter, according to the earnings results. Related storiesCook's limited remarks on China's iPhone sales raised questions on Friday's call from analysts who compared Apple's data with independent reports.

Persons: Tim Cook, —, Cook, Max, Wells, Aaron Rakers, Will Wong, Wong Organizations: Apple, Service, Counterpoint Research, International Data Corporation, IDC, Bloomberg Locations: China, Hong Kong, Taiwan

☆ China's automakers must adapt quickly or lose out on the EV boom in the face of regulatory scrutiny abroad and competition at home
▼ + stars: | 2024-05-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

The automaker is the joint venture partner of Honda and Toyota in China, and has an electric car brand called Aion. Expanding outside ChinaLike other automakers in China, GAC is also turning overseas. China's overseas car sales surged last year, putting the country on par with Japan as the world's largest exporter of cars. Dyer expects that to drive overseas demand for Chinese electric cars. Chinese consumers placed almost twice as much importance on tech features compared with U.S. consumers, Dyer said, citing AlixPartners' survey.

Persons: Evelyn Cheng, Tesla, Feng Xingya, Feng, Wei Haigang, Wei, Stephen Dyer AlixPartners, There's, Stephen Dyer, AlixPartners, Dyer, BYD, Nio, CATL, Zhong Shi Organizations: CNBC, GAC, Labor, Huawei, Honda, Toyota, China Passenger Car Association, EU, U.S, Factories, Greater China Business U.S, Ministry of Commerce, Tech, Volkswagen, SAIC Motor, Battery, China Automobile Dealers Association, Automotive, Robotics, Lotus Technology, Geely Locations: Beijing, Evelyn Cheng BEIJING, China, East, Mexico, Japan, Malaysia, Thailand, Egypt, Brazil, Turkey, Amsterdam, Greater China, Asia, U.S, Europe

☆ Apple's record $110 billion stock buyback is bigger than Boeing, Airbnb, and Chipotle
▼ + stars: | 2024-05-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Apple just launched a $110 billion stock buyback program, the biggest in history. Apple's new stock buyback program is more than the value of Boeing, Airbnb, and Chipotle. AdvertisementApple just launched a $110 billion stock buyback, the biggest in stock market history. Since then, the company's stock buyback programs have reduced its total share count to 15.44 billion, and at current prices, this stock buyback program would retire an additional 600 million shares. To put in perspective just how big Apple's stock buyback program is, consider these companies that have a total market value of less than $110 billion.

Persons: —, Apple, Dan Ives, Corey Lever, Eric Risberg, Chipotle, Gregory, Brandon Bell, Airbnb, ROSLAN RAHMAN Organizations: Apple, Boeing, Service, Greater, Waste, AP, Portland Press, Getty, Dell Technologies Dell, DELL Locations: Greater China, Oakland, Calif, , Texas

☆ We're raising our price target on Apple after its big earnings beat and raise
▼ + stars: | 2024-05-02 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Earnings per share rose 1% to $1.53, a March quarter record, and exceeded the LSEG consensus estimate of $1.50. This resulted in stronger-than-expected free cash flow, which is more important than operating cash flow because it is cash Apple can ultimately return to shareholders via buybacks and dividends. During the reported quarter, Apple paid over $27 billion to shareholders, including $3.7 billion in dividends and equivalents and another $23.5 billion via the repurchase of 130 million shares. Quarterly results Apple's services sales notched another record, which offset a slight miss in product sales and led to beats on gross and operating income. iPad sales are expected to gain double digits year over year, much better than the 5.9% expected on Wall Street.

Persons: Tim Cook, Cook, we're, Apple, Luca Maestri, Maestri, Jim Cramer's, Jim Cramer, Jim Organizations: Apple, Management, MacBook, MacBook Air, Apple Watch, Fortune, Apple Vision, KLM Airlines, CNBC, Apple Inc, Visual China, Getty Locations: China, Greater China, America, East, Canada, India, Spain, Turkey, Indonesia, WWDC, U.S, Australia, France, Germany, Japan, Shanghai

☆ Apple's China sales in focus ahead of earnings
▼ + stars: | 2024-05-02 | by ( Kif Leswing | ) www.cnbc.com time to read: +5 min

In February, Apple said it expected sales similar to last year's $94.84 billion during the same period and flat iPhone sales. In the December quarter, sales dropped 13% in Greater China, which includes Hong Kong and Taiwan. Analysts polled by FactSet expect $15.25 billion in China regional sales, which would be a 14% year-over-year decline. "In strong iPhone cycles, Apple's China revenues typically grow much faster than Apple overall, as Chinese consumers embrace the new phone," Sacconaghi wrote. Meanwhile, state statistics show iPhone sales falling 33% in February, the second consecutive month of declining shipments.

Persons: Tim Cook, Deirdre O'Brien, Apple, AAPL, Bernstein, Toni Sacconaghi, Sacconaghi, David Vogt, Aaron Rakers, There's, Morgan Stanley, Erik Woodring, Woodring Organizations: Apple, Analysts, FactSet, Huawei, Chinese Communist Party, Counterpoint Research, UBS Locations: China, Greater China, Hong Kong, Taiwan, repurchases

☆ What it’s really like to live in Macao
▼ + stars: | 2024-04-25 | by ( Lilit Marcus | ) edition.cnn.com time to read: +9 min

Macao, the Chinese special administrative region (SAR) often twinned with Hong Kong, is known as the Las Vegas of Asia. But travelers who are willing to dig in a little deeper can explore Macanese culture, which mixes Portuguese, Chinese and Southeast Asian heritages. Macao is comprised of two islands – the north one, Macao itself, and its southern neighbor Taipa. “In Asia, [people] think that Macao is full of casinos, and I think they do not understand the other parts of Macao,” says Lai. That means that they can live in Macao without a work visa and do not need a company sponsoring them.

Persons: CNN — “, ”, Vivian Lai, Taipa, Lai, ” Marina Fernandes, Michael Maslan, “, it’s, Uber, Fernandes, Eduardo Leal, Ricardo Balocas, Balocas, Don’t Organizations: CNN, Las, Macanese Association, Bloomberg, Macao International Airport, Joseph’s University, Macao, Henley Locations: Macao, Hong Kong, Las Vegas, Asia, China, Taipa, “, ”, Europe, Portuguese, Zhuhai, Macao’s, Singapore, Jakarta, Hanoi, Bangkok, Beijing, North America, Shenzhen, Guangzhou, Bay Area, Portugal, Macao's, Lisbon, St, Philippines, ‘ Little Lisbon, it’s

☆ Inflation, operating costs had the biggest impact on Asian firms last year, survey shows
▼ + stars: | 2024-04-25 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +1 min

Higher costs had the biggest impact on Asian businesses in 2023, even as they continued to grapple with a global economic slowdown and rising borrowing costs, according to a survey by UOB. Of those polled, 32% said they were impacted by high inflation, another 32% said they faced increased operating costs, while 24% said rising labor costs hurt their business, UOB's 2024 Business Outlook Survey reported. Still, about four out of 10 companies said they felt "very positive" about the business environment in 2023, while 32% said they were "somewhat positive," the survey showed. Some 35% of the companies polled said the business environment in 2023 declined compared to the previous year. To combat future headwinds, 30% of the companies said reducing business costs will be their top priority in the next one to three years.

Organizations: UOB, Survey Locations: Southeast Asia, Greater China, China , Hong Kong, Thailand, Vietnam, Malaysia, Singapore, Indonesia

☆ China may have to brace for a new wave of bond defaults, S&P says
▼ + stars: | 2024-04-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's state-directed economy may be creating the conditions for a new wave of bond defaults that could come as soon as next year, according to an S&P Global Ratings report released Tuesday. It comes against a backdrop of extremely few defaults in China amid concerns about overall growth in the world's second-largest economy. China's corporate bond default rate fell to 0.2% in 2023, the lowest in at least 8 years and far below the global rate of about 2.6%, S&P data showed. "We've seen directives or guidance from the government in the past year to discourage defaults in the bond market." "The question is: When the guidance to avoid the defaults in the bond market [ends], what happens to the bond market?"

Persons: Charles Chang, that's, Chang, We've Organizations: Country Garden Holdings Co Locations: Phoenix, Heyuan, Guangdong province, China, BEIJING

☆ 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

☆ China’s growing love of luxury watches remains strong, despite economic headwinds
▼ + stars: | 2024-04-19 | by ( Leona Liu | ) edition.cnn.com time to read: +9 min

Despite economic challenges looming large — including prolonged downturns in both the housing and stock market — China’s fascination with luxury watches remains undiminished. Cyril Zingaro/WWGF/KeystoneCertainly at this year’s fair, well-dressed, well-accessorized Chinese customers appeared unfazed by economic uncertainties. After more than 20 years working in the region, he believes China’s economic slowdown is just a temporary phase. “The situation may be slightly (more) challenging for mid-level luxury brands (whose clients’ disposable incomes are potentially more at the whim of market forces). Collectors appreciate the craftsmanship, rarity, and heritage associated with luxury timepieces, which can hold or increase in value over time.

Persons: Matthieu Humair, Cyril Zingaro, Jackson Yee, Jaeger, Zhu Yilong, Wang Yang, Xiao Zhan, David Sadigh, Patek Philippe, Van Cleef, ” Sadigh, Valentin Flauraud, ”, Ricardo Guadalupe, “ We’ve, Pierre Albouy, Keystone Carson Chan, Richard Mille Asia, Bonhams, ” Chan, Raphael Young, Lange, Söhne, Wilhelm Schmid, Lumen, Chan, Vacheron, Young, Roger Dubuis, Dior, Louis Vuitton, Gucci — Chanel, Hermes, Hermès, Attelé, Chanel, Mademoiselle Chanel, “ Organizations: Geneva CNN —, Federation of, Swiss Watch Industry, IWC, Digital Luxury, CNN, Keystone, Fondation, “, Berkley, Couture Locations: Geneva, China, Hong Kong, Asia, Switzerland, Chopard, Europe, “, Asia — China, Guadalupe, Swiss, watchmaking

☆ P&G's initial decline had nothing to do with earnings. The market later agreed
▼ + stars: | 2024-04-19 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

For the full year, the overall sales growth rate was reiterated at 2% to 4% as was the organic growth target of 4% to 5%. On the call, Schulten said growth across categories continues to be broad-based with 8 of 10 product categories holding or growing organic sales in this quarter. In North America, organic sales rose 3% on the back of a 3% increase in volume. In Europe, focus markets rose 7% on the back of a 4% increase in volume, and in Latin America, organic sales were up 17% versus the year-ago period. Weakness continued in Greater China, with organic sales declining 10%.

Persons: Dow, Andre Schulten, Schulten, Jim Cramer's, Jim Cramer, Jim, Pantene, Justin Sullivan Organizations: Procter, Gamble, Procter & Gamble, Colgate, Palmolive, Unilever, Management, CNBC Locations: United States, American, North America, Europe, Latin America, Greater China, China, San Anselmo , California

☆ BofA economist discusses China's first-quarter GDP
▼ + stars: | 2024-04-16 | 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 EmailBofA economist discusses China's first-quarter GDPMiao Ouyang, Greater China economist at BofA Global Research, discusses what's behind her forecast for China's first-quarter gross domestic product.

Persons: China's, Miao Ouyang Organizations: BofA Global Research Locations: China

☆ China's policy to boost demand by $700 billion will have a 'bigger and bigger' impact, official says
▼ + stars: | 2024-04-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Vcg | Visual China Group | Getty ImagesBEIJING — China's latest policy to boost demand will soon have a greater effect on growth, a top official at the economic planning agency told reporters Thursday. "We believe this work will achieve bigger and bigger results," he said in Mandarin, translated by CNBC. He noted that equipment upgrades account for 9% to 10% of total GDP. 'Strong' central government fiscal supportIn terms of fiscal funding for those upgrades, Zhao said the central government would provide "strong support." Part of the equipment upgrade and consumer trade-in policy also focuses on improving standards for the kinds of products that can be used.

Persons: That's, Zhao Chenxin, Goldman Sachs, Morgan Stanley, Zhao, Bruce Pang, Fu Jinling, Fu, Francoise Huang, We're, JLL's Pang, Shan Zhongde Organizations: Visual China, Getty, BEIJING, National Development, Reform Commission, CNBC, Analysts, People's Bank of, Allianz Trade, Ministry of Industry, Information Technology, Ministry of Housing, Ministry of Commerce, State Administration, Market, China's Ministry of Commerce, Industry, Global Locations: Qingzhou, Weifang City, Shandong Province, China, oversupply, Beijing, JLL, People's Bank of China

☆ Why Xi Jinping Is Meeting With Taiwan’s Ex-President
▼ + stars: | 2024-04-10 | by ( Chris Buckley | ) www.nytimes.com time to read: +1 min

But on Wednesday, as the two men met again in Beijing, the prospects for an amicable settlement over Taiwan’s future seemed more distant than ever. Mr. Ma, who pursued closer engagement with China during his eight years in office, is no longer president of Taiwan. Fewer and fewer Taiwanese people now share his belief that Taiwan must see its future as a part of a greater China. Since Mr. Ma left office in 2016, Mr. Xi has frozen high-level contacts with Taiwan, sought to isolate it on the global stage and tried to intimidate it with a tightening military presence around the island. Mr. Xi is profoundly suspicious of Taiwan’s current leadership, which has sought to assert the sovereignty of the island democracy.

Persons: Xi Jinping, Ma Ying, —, Ma, Xi Organizations: Mr Locations: Taiwan, Singapore, Beijing, China

☆ A Chinese smartphone maker is breaking into EVs and challenging Tesla. How the stock rates now.
▼ + stars: | 2024-04-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Just as the auto industry was grappling with BYD 's rapid rise, Chinese smartphone company Xiaomi has burst into the market — undercutting Tesla and vowing to become a global player. Meanwhile, Tesla last week revealed that its deliveries fell in the first quarter from a year ago . While he still likes Tesla longer-term , he and his team will hold a client webinar on Xiaomi, Tesla and global EVs on Tuesday. Xiaomi shares nearly reached that price during last week's surge. Meanwhile, Tesla shares are down 34% year to date.

Persons: BYD, Tesla, Lei Jun, Xiaomi, Morgan Stanley, Adam Jonas, Jonas, Morgan, Andy Meng, Meng, Taylor Ogan, Lei, Ogan, BEV, Nick Lai, Gokul Hariharan, Janet Yellen, overcapacity Organizations: Apple, Hong, Snow Bull, EV, JPMorgan, Treasury Locations: Hong Kong, China, Shenzhen, U.S

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