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China’s Singles Day shows buyers’ commitment issue
  + stars: | 2023-11-13 | by ( Chan Ka Sing | ) www.reuters.com   time to read: +3 min
The Alibaba Group logo is seen during the company's 11.11 Singles' Day global shopping festival at their headquarters in Hangzhou, Zhejiang province, China, November 11, 2020. The Singles Day sales period ended up with anemic growth in transactions, despite steep discounts by retailers. Alibaba (9988.HK), , the e-commerce giant behind Singles Day, used to hold a lavish gala in Shanghai to celebrate the consumption extravaganza. And China’s State Post Bureau said on Sunday that express delivery volume hit a record high during the Singles Day period, rising more than 23% between November 1 and November 11, compared to the previous year. Beijing may hope Chinese shoppers are more fatigued by the Singles Day’s barrage of promotions than consumption itself.
Persons: Aly, Xi, Taylor Swift, Alibaba, It’s, JD.com, Goldman Sachs, Francesco Guerrera, Thomas Shum Organizations: REUTERS, Reuters, HK, Post Bureau, Reuters Graphics Reuters, Thomson Locations: Hangzhou, Zhejiang province, China, HONG KONG, Shanghai, Beijing
Stroud directed a last-minute, game-winning drive for the second straight week, finishing with 356 yards passing and leading the Houston Texans to a 30-27 victory over the Cincinnati Bengals on Sunday. Stroud connected with Dalton Schultz for 25 yards and Noah Brown for 22 yards on the decisive drive. Cincinnati's Joe Burrow threw for 357 yards and two touchdowns but was intercepted twice in the fourth quarter. Ja’Marr Chase had five catches for 124 yards and touchdown for the Bengals, and Tyler Boyd had eight receptions for 117 yards. INJURIESCincinnati DE Trey Hendrickson went down with an unspecified injury in the fourth quarter but was able to walk off under his own power.
Persons: — C.J, Stroud, Matt Ammendola, Ammendola, Ka’imi Fairbairn, Dalton Schultz, Noah Brown, Brown, Devin Singletary, Joe Burrow, Cam Taylor, Britt, Joe Mixon, Evan McPherson, Burrow didn't, Ja’Marr Chase, Tyler Boyd, Trenton Irwin, Sheldon Rankins, Trey Hendrickson, ___ Organizations: CINCINNATI, Houston Texans, Cincinnati Bengals, Texans, Tampa Bay, Bengals, Stroud, NEXT, Host Arizona, Sunday, AFC North Locations: Stroud, Baltimore
The company logo of Chinese developer Country Garden is displayed at a news conference in Hong Kong, China March 20, 2018. Country Garden, which has almost $11 billion of offshore bonds, declined to comment. The timeline for the company's debt restructuring plan has not been reported before. CreditSights said in a Nov. 2 research note that Country Garden had "formally defaulted" on its offshore bonds due to the missed payment. Sunac China Holdings Ltd (1918.HK) in October became the first to complete the debt revamp scheme for its $9 billion offshore debt after winning approval from creditors and courts.
Persons: Bobby Yip, Ping, CreditSights, CICC, Houlihan Lokey, Sidley Austin, Houlihan, China Evergrande, Hui Ka Yan, Xie Yu, Clare Jim, Sumeet Chatterjee, Edwina Gibbs Organizations: REUTERS, Reuters, Insurance Group, Ping An, Sunac China Holdings Ltd, HK, Thomson Locations: Hong Kong, China, HONG KONG, HK, Beijing
___The generational shift at quarterback in the NFL reached a new milestone last week. This was the first time since Week 6 of the 2002 season that no quarterback born in the 1980s took the field. That raised the total of rookie starting QBs this season to nine, tying the non-replacement record set in 2019. The youth movement at quarterback has played a role in the struggles on offense across the league in the first half of the season, with scoring at its lowest mark through nine weeks since 2007. NEW YUCK, NEW YUCKThe performance so far this season for the New York teams has been rather offensive.
Persons: Tom Brady's, Aaron Rodgers, Matthew Stafford, Kirk Cousins, Ryan Tannehill, Russell Wilson, Arizona's Clayton, Tommy DeVito, Daniel Jones, QBs, C.J ., Jared Goff, Peyton Manning, Donovan McNabb, Ben Roethlisberger, Hill, Hall, Hall of Famer Frank Gifford, Gifford, Hall of Famers Charley Trippi, Red Grange, Jimmy Conzelman, Minnesota's Joshua Dobbs, hadn't, Dobbs, Paul Governali, Dare, Ka’imi Fairbairn, Ogunbowale, Wes Welker, Tony Galbreath, NEW, ___ Organizations: NFL, Jaren, Giants, Houston, Tampa Bay, Hall of Fame, Chicago, Hall of Famer, Hall of Famers, Vikings, Cardinals, Boston Yanks, New York Giants, Stroud's Texans, New, New Orleans, Green, AFC East, Miami, New York Jets, AFC West, NFC, AFC North, Cincinnati, AFC, NFC West, Seattle, Rams, New York, The Jets, Jets, The Giants Locations: C.J . Stroud, Stroud, New Orleans, Hall, Red, Miami, New England, Buffalo, Baltimore, Cleveland, Pittsburgh, Francisco, Baltimore , Arizona, Green Bay
Chen Shaojie, the CEO of Chinese streaming platform DouYu, has been missing for weeks, reports indicate. A DouYu spokesperson told CNN that "business operations remain normal." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementThe CEO of DouYu, a Tencent-backed live-streaming platform, has been uncontactable for weeks, according to reports from several media outlets. State-owned Cover News, citing unconfirmed reports, first reported on Monday that CEO Chen Shaojie, 39, is being investigated by authorities and has been unreachable for three weeks.
Persons: Chen Shaojie, Chen, , DouYu, Jack Ma, Bao Fan, Bao, Hui Ka Yan, China Evergrande, Hui Organizations: CNN, Service, Financial Times Locations: State, China, People's Republic of China
The US was widely expected to transfer ATACMS missiles to Ukraine sometime this fall. But the Russians still appeared surprised when Ukraine fired ATACMS at air bases in October. Repeated failures to anticipate the arrival of new weapons has cost Russia heavily during the war. This has put the burden of air support on Russian attack helicopters. Maxar Technologies via Getty ImagesTo Kofman and other observers, those helicopter bases were "one of the most obvious targets" for Ukrainian ATACMS strikes.
Persons: , choppers, Michael Kofman, Kofman, Serhii Mykhalchuk, Michael Peck Organizations: Service, Ukrainian, Associated Press, Carnegie Endowment, Maxar, Getty, Kyiv, Israel Defense Forces, IDF, Defense, Foreign Policy, Twitter, LinkedIn Locations: Ukraine, Russia, Russian, Russia's Far, Crimea, Ukrainian, Berdyansk, Luhansk, revetments, Swedish, Yom Kippur, Forbes
NFL roundup: C.J. Stroud breaks out as Texans clip Bucs
  + stars: | 2023-11-06 | by ( ) www.reuters.com   time to read: +9 min
Stroud led a 75-yard drive in 40 seconds after Baker Mayfield put Tampa Bay ahead with a 14-yard touchdown pass to Cade Otton, the duo's second scoring hookup of the day. Stroud completed 30 of 42 passes, connecting with Noah Brown six times for 153 yards, including a 75-yard touchdown. Mayfield connected on 21 of 30 passes for 265 yards for the Buccaneers (3-5), who lost their fourth straight game. Vikings 31, Falcons 28Joshua Dobbs fired a go-ahead, 6-yard touchdown pass to Brandon Powell with 20 seconds remaining, and Minnesota beat host Atlanta. Tune completed 11 of 20 passes for 58 yards, threw two interceptions and lost a fumble on one of Cleveland's seven sacks.
Persons: C.J ., Shaquil Barrett, Troy, Stroud, Tank, . Stroud, Baker Mayfield, Cade Otton, Noah Brown, Dalton Schultz, Dell, Dare Ogunbowale, Ogunbowale, Ka'imi Fairbairn, Mayfield, Joe Burrow, Josh Allen, Stefon Diggs, Joe Mixon, Mixon, Tee Higgins, Allen, Diggs, Dalton Kincaid, Joshua Dobbs, Brandon Powell, Dobbs, Jaren, Taylor Heinicke, Mary, A.J . Brown, DeVonta Smith, Kenneth Gainwell, Dak Prescott, CeeDee Lamb, Lamb, Patrick Mahomes, Bryan Cook's, Tua Tagovailoa, Raheem Mostert, Hill, Keaton Mitchell, hadn't, Gus Edwards, Odell Beckham Jr, Justin Tucker, Seattle's Geno Smith, Jaxon Smith, Njigba, Cleveland, Clayton Tune, Tune, Jordan Love, Aaron Jones, Brett Rypien, Matthew Stafford, Rypien, Sam Howell, Howell, Chad Ryland, Washington, Jahan Dotson, Joey Slye, Paulson Adebo, Adebo's takeaways, Derek Carr, Tyson Bagent, Justin Fields, Kenny Moore, Moore, Bryce Young's, Josh Jacobs, Antonio Pierce, Josh McDaniels, York's Daniel Jones, Jones Organizations: Houston Texans, Tampa Bay Buccaneers, NRG, Tank Dell, ., Tampa Bay, Texans, Buccaneers, Bengals, Bills, Cincinnati, Buffalo, Vikings, Falcons, Atlanta, Arizona Cardinals, Eagles, Cowboys, Philadelphia, Dallas, Chiefs, Dolphins, Kansas City, NFL, Miami, Ravens, Seahawks, Baltimore, Seattle, AFC, Browns, Cardinals, Buffalo Bills, Packers, Rams, Patriots, Washington, New England, New, Saints, Bears, Chicago, Colts, Panthers, Indianapolis, Carolina, Pro Football, Raiders, Giants, Las Vegas, The Raiders, Las, ESPN, Thomson Locations: Houston , Texas, USA, C.J . Stroud, Troy Taormina, Tampa, Dell, Buffalo . Buffalo, Minnesota, Miami, Frankfurt, Germany, Arizona, Green, Los Angeles, New, Foxborough, New England, New Orleans, Charlotte, N.C, Carolina, Las, New York, Las Vegas, York
Nov 5, 2023; Houston, Texas, USA; Houston Texans running back Dare Ogunbowale (33) kicks a field goal during the fourth quarter against the Tampa Bay Buccaneers at NRG Stadium. The Texans' strategy was sent into disarray when kicker Ka'imi Fairbairn suffered an injury and was unable to compete in the second half, forcing Ogunbowale to assume place-kicking duties for the home team. With the game tied at 30-30 in the fourth quarter, Ogunbowale stepped up to take his shot and sent a 29-yard field goal through, prompting special teams coordinator Frank Ross to run on to the field as the Texans sideline erupted in celebration. For him to be able to kickoff as many times as he did... and also for him to kick the field goal -- we were confident he could make it from there and he proved us right. "It's a big-time win for us," said Stroud, as the Texans improved their record to 4-4.
Persons: Troy, Dare Ogunbowale, Ka'imi Fairbairn, Ogunbowale, Frank Ross, DeMeco Ryans, he's, C.J, Stroud, Tank Dell, We've, Amy Tennery, Clare Fallon Organizations: Houston Texans, Tampa Bay Buccaneers, NRG, Texans, Tank, Thomson Locations: Houston , Texas, USA, Troy Taormina, Stroud, New York
China rate scare reminds watchdogs of hidden risks
  + stars: | 2023-11-01 | by ( Chan Ka Sing | ) www.reuters.com   time to read: +3 min
Overnight borrowing rates for some Chinese financial institutions spiked to 50% on Tuesday, according to official interbank data, far in excess of the average rate of roughly 3.6%. In 2012, a national audit confirmed that local governments had amassed up to 10 trillion yuan in debts. Those have since swelled to 92 trillion yuan, per Reuters. The latest liquidity squeeze is a reminder that short-term dangers will complicate any attempts at more drastic surgery on China’s financial system. CONTEXT NEWSOvernight borrowing costs for some Chinese financial institutions jumped to as high as 50% on Oct. 31.
Persons: Xi Jinping’s, Xi Jinping, Li Qiang, Peter Thal Larsen, Thomas Shum Organizations: Reuters, Traders, People’s Bank of, Financial Work, Central Financial Work Conference, Xinhua News Agency, Thomson Locations: HONG KONG, People’s Bank of China, Beijing
The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. Evergrande was also banned from issuing new dollar bonds, a key part of its original restructuring plan, while its flagship mainland unit was being investigated by regulators. The biggest challenge ahead for Evergrande will be convincing its creditors and shareholders in the two Hong Kong-listed units that the new proposal is worthwhile, industry experts said. The ad hoc group of bondholders is unhappy about the revised terms offering equity in the Hong Kong-listed subsidiaries, according to sources. ($1 = 7.8239 Hong Kong dollars)Reporting by Xie Yu and Julie Zhu in Hong Kong; Additional reporting by Clare Jim; Editing by Scott Murdoch and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.
Persons: Aly, Evergrande, Hui Ka Yan, Xie Yu, Julie Zhu, Clare Jim, Scott Murdoch, Jamie Freed Organizations: China Evergrande Group, REUTERS, HK, Evergrande Property Services, New Energy Vehicle Group, Thomson Locations: China, Shenzhen, Guangdong province, HONG KONG, Hong Kong, Guangdong
Evergrande's lawyer said the company was working on a revised plan to "monetise the value" of its two Hong Kong-listed units - Evergrande Property Services Group (6666.HK) and Evergrande New Energy Vehicle Group (NEV) (0708.HK). Sources familiar with the matter told Reuters that plan included allowing Evergrande creditors to swap their debt into equity and bonds tied to these units. Evergrande, Evergrande Property Services and Evergrande NEV declined to comment. "Why would those shareholders want to see new debt issued to replace the existing debt issued by Evergrande, what is the benefit for them?" Evergrande's initial $23 billion offshore debt restructuring plan was thrown off course last month when its billionaire founder Hui Ka Yan was confirmed to be under investigation for suspected criminal activities.
Persons: Aly, Evergrande NEV, Mat Ng, Grant Thornton, Evergrande, Hui Ka Yan, Clare Jim, Xie Yu, Scott Murdoch, Miral Organizations: China Evergrande Group, REUTERS, Hong, Evergrande, Services, HK, New Energy Vehicle Group, Reuters, Evergrande Property, Thomson Locations: China, Shenzhen, Guangdong province, HONG KONG, HK, Hong Kong, Grant Thornton Hong Kong, SYDNEY
Three people were arrested in New York City on Tuesday on charges of illegally smuggling millions of dollars' worth of electronics to Russia in order to aid the country's invasion of Ukraine. Federal prosecutors in Brooklyn accused Nikolay Goltsev, Salimdzhon Nasriddinov and Kristina Puzyreva of evading sanctions in order to send Russia equipment used in their precision-guided missile systems. The defendants allegedly dispatched hundreds of shipments of restricted items, worth nearly $7.2 million, to Russia over the course of a year. The complaint alleges that the defendants used two corporate entities to source and purchase dual-use electronics from U.S. manufacturers and distributors, and then secretly export them to Russia. Some of the same types of components were found in Russian weapons platforms and signals intelligence equipment that were seized in Ukraine, prosecutors alleged.
Persons: Nikolay Goltsev, Salimdzhon Nasriddinov, Kristina Puzyreva, Nick Stevens, Matthew Olsen Organizations: Attorney, Eastern, of, Prosecutors, United Arab, Justice Department's National Security Division Locations: Brooklyn, New York City, Russia, Ukraine, U.S, of New York, Tajikistan, Goltsev, Montreal, Manhattan, Russian, Turkey, Hong Kong, India, China, United Arab Emirates, Vitebsk
The National Financial Work Conference, usually held twice a decade, is expected to further fortify leader Xi Jinping’s control of the country’s $61 trillion financial sector. “Overall, the financial sector in China has made progress but at this moment they face challenges,” said Nakao. Last week, Xi reportedly visited the central bank, or People’s Bank of China, a rare step that underscores the party’s consolidation of controls over markets and financial institutions. Country Garden, another major developer, failed last week to meet a deadline to pay interest on a dollar bond. It has adopted measures to support private industries, which provide the lion's share of jobs in China.
Persons: , Xi Jinping’s, Takehiko Nakao, China’s, , Li Keqiang, Li, shakeup, Xi, Lan Fo’an, Evergrande, Hui Ka Yan, Zen Soo Organizations: Financial Work Conference, Asian Development Bank, Central Financial Commission, China Securities Regulatory Commission, People’s Bank of, International Monetary Fund, AP Locations: BANGKOK, Beijing, China's Guangzhou, , China, People’s Bank of China, Hong Kong, Foshan
Her death was confirmed by her grandson Chris Dadak. The pope’s friendship with Dr. Poltawska (pronounced pole-DUS-ka), a married Roman Catholic with four grown daughters, was largely unknown until 2009, four years after John Paul’s death, when she revealed details of it in a memoir. They had exchanged letters and visits for almost a half-century, she wrote, starting in 1956 in Krakow, Poland, where she had begun a psychiatric practice and where the future pontiff was a dynamic young parish priest, the Rev. There, Dr. Poltawska told Father Wojtyla of the burdens she had borne for years as a victim of gruesome medical experiments performed on her and other women in the concentration camp at Ravensbrück, Germany. Their exchange led to further consultations and, over time, a bond that would extend from Poland to the Vatican.
Persons: Wanda Poltawska, Pope John Paul II, Chris Dadak, Poltawska, John Paul’s, Karol Wojtyla, Father Wojtyla Organizations: Roman Catholic Locations: Polish, Krakow, Poland, Ravensbrück, Germany
China Evergrande faces winding-up challenge in Hong Kong court
  + stars: | 2023-10-29 | by ( ) www.reuters.com   time to read: +2 min
An Evergrande sign is seen near residential buildings at an Evergrande residential complex in Beijing, China September 27, 2023. REUTERS/Florence Lo/File Photo Acquire Licensing RightsHONG KONG, Oct 30 (Reuters) - China Evergrande Group's (3333.HK) fate will be tested on Monday as Hong Kong's High Court hears a winding-up petition against the embattled property developer, nearly two years after it defaulted on its debts. Evergrande had been working on an offshore debt restructuring proposal for more than a year-and-a-half, but its plans were thrown off course last month when billionaire founder Hui Ka Yan was confirmed to be under investigation for suspected criminal activities. The world's most indebted property developer with more than $300 billion of total liabilities, Evergrande defaulted its offshore debt in late 2021 and became the poster child of a debt crisis that has since engulfed China's property sector. Top Shine, an investor in Evergrande unit Fangchebao, filed the winding-up petition in June 2022 because it said Evergrande had not honoured an agreement to repurchase shares the investor bought in the unit.
Persons: Florence, Evergrande, Hui Ka Yan, Clare Jim, Lincoln Organizations: REUTERS, HK, Thomson Locations: Beijing, China, HONG KONG, Evergrande
Ukraine has received all 31 of the formidable M1A1 Abrams tanks promised by the US. Ukraine will have to be careful with how it employs the Abrams, especially as the counteroffensive likely slows in coming months. But don't expect to see many showdowns with Russian tanks. Russian minefields have held Ukraine's armor at bay, while artillery and anti-tank missiles threaten the vehicles that do advance. Soldiers handle a US M1 Abrams tank during the Finnish Army mechanized exercise "Arrow 23" at the Pohjankangas shooting and training area in Niinisalo, Finland, on May 4, 2023.
Persons: , Abrams, Mark Cancian, Volodymyr Zelenskyy, Biden, Olivia Yanchik, that's, ANTTI AIMO, Moscow's, Ukraine's, Russia's, Yanchik, Cancian, JONATHAN NACKSTRAND, Zelenskyy, ATACMS Organizations: US, Abrams, Service, Center for Strategic, International Studies, US Marine Corps, US Army, Council's Eurasia Center, Royal United Services Institute, M1 Abrams, Finnish Army, Getty, Trident, Russian, U.S . Marine Corps M1A1, 1st Tanks Bravo Company, Marine, Palms Marine Corps Base, US Department of Defense, MGM, Tactical Missile Systems, NATO Locations: Ukraine, Kyiv, Niinisalo, Finland, AFP, Zaporizhzhia, NATO, Oppdal, Norway, Azov, California, Russia
Hong Kong CNN —Hong Kong is to pay new parents more than $2,500 for having a baby in a bid to boost its flagging birth rate, but many residents in the notoriously expensive city say it’s barely enough to cover a month’s rent. In Japan (birth rate 1.3), parents get a monthly allowance of $107 dollars for each newborn until two years of age. For each child between three years old and senior high, parents get $66.7 per month. Hong Kong subsidizes education from kindergarten to senior high, but nursery, the year or two before kindergarten, is not usually covered. “The government should be thinking about how to convince [us] that Hong Kong is conducive to child-raising,” Lau said.
Persons: John Lee Ka, chiu, ” Lee, , Ken Lau, Kristy Chan, ” Lau, Kim Yeung, ” Yeung, Paul Yip Siu, Hong, ” Yip, Sze Lai, Sze, Lau, Organizations: Hong Kong CNN, Hong, HK, CNN, Midland Realty, fai, University of Hong, Society for Community Organization Locations: Hong Kong, East Asia, Singapore, South Korea, Japan, University of Hong Kong
China puts $137 bln Band-Aid on local debt wounds
  + stars: | 2023-10-25 | by ( Chan Ka Sing | ) www.reuters.com   time to read: +3 min
The funds are to be funnelled to cash-strapped local governments struggling under 92 trillion yuan ($12.6 trillion) of debt. The last time was for a 1 trillion yuan special bond issuance in 2020 to combat the economic fallout from Covid-19. All these plans stem from the ruling Politburo in July calling on regulators to formulate “a basket of measures” to resolve risks stemming from local governments’ debt. CONTEXT NEWSChina’s top legislature approved a plan on Oct. 24 to sell 1 trillion yuan ($137 billion) of sovereign bonds. Separately, the Chinese legislature passed a bill to allow local governments to frontload part of their 2024 bond quotas.
Persons: Xi Jinping, Xi Jinping’s, Antony Currie, Thomas Shum Organizations: of, People, REUTERS Acquire, Reuters, Monetary, Thomson Locations: Beijing, China, HONG KONG, Covid
Once China's second-largest property developer, Evergrande has been mired in a debt crisis since 2021. AdvertisementAdvertisementHui Ka Yan, the founder and chairman of embattled Chinese property developer Evergrande, was once Asia's second-richest person worth $42 billion in 2017. Currently worth $979 million, Hui's net worth followed a dive in the share price of Evergrande amid a real-estate sector meltdown in China. Hui's wealth has also taken a big hit from the recent wild swings in the company's share price on the Hong Kong Stock Exchange. AdvertisementAdvertisementEvergrande's share price was up 0.4% at 24 Hong Kong cents, or 5.4 cents, at 10.05 a.m. Hong Kong time on Wednesday.
Persons: China's, Evergrande, , Yan, Hui —, Hui, Stocks Organizations: Service, Bloomberg, Hong Kong Stock Exchange, Reuters, Hong Locations: China, Evergrande, Hong Kong
An Evergrande sign is seen near residential buildings at an Evergrande residential complex in Beijing, China September 27, 2023. The embattled Chinese property developer was directed by the Hong Kong High Court to submit new documents by mid-last week, the person said. Evergrande and the Hong Kong High Court did not respond immediately to requests for comment. Failure to show the judge that a restructuring plan is progressing could increase the chances of a winding-up order, lawyers said. Evergrande said on Friday it was revising the terms of a proposed offshore debt restructuring deal to meet the firm's situation and creditors' demand, without providing details.
Persons: Florence, Evergrande, Hui Ka Yan, Clare Jim, Jamie Freed Organizations: REUTERS, China Evergrande, HK, Hong Kong High Court, Thomson Locations: Beijing, China, HONG KONG, Hong Kong
Foxconn’s China woes expose supply chain dilemma
  + stars: | 2023-10-24 | by ( Chan Ka Sing | ) www.reuters.com   time to read: +4 min
Yet, coming less than 100 days ahead of Taiwan’s presidential election in January, it is difficult to see surprise tax raids on Foxconn as having no geopolitical implications. For multinationals, the tax audits expose Foxconn’s difficulty in navigating the global business environment as tensions across the Taiwan Strait escalate. For global onlookers anxious to reduce their Chinese dependency, Foxconn could be the most telling case on the true cost of reshoring. The audits come less than three months ahead of Taiwan’s presidential election in January 2024 and amid Foxconn’s drive to expand its production outside China. Foxconn’s founder Terry Gou, who stepped down as company chief in 2019, is running as an independent candidate in Taiwan’s upcoming presidential election.
Persons: Foxconn, Terry Gou, It’s, Foxconn’s, Lisa Jucca, Thomas Shum, Katrina Hamlin Organizations: Reuters, Apple, Hai Precision Industry, Global Times, Eastern, Democratic Progressive Party, Foxconn, Thomson Locations: HONG KONG, China, Taiwan, Foxconn, Beijing, Vietnam, Republic, Shanghai, Taipei
Colin Huang, who founded PDD in 2015 and stepped down as CEO in 2020, was the fastest riser in this year's Hurun Rich List, leaping seven places to be ranked China's third richest man with a $37.2 billion fortune. Richard Liu, who founded e-commerce giant JD.com, also saw his wealth, and that of his wife Zhang Zetian, fall by $6.2 billion since last year to $8.26 billion, according to Hurun's list. JD.com's shares fell to a record low earlier this month after banks cut its price targets citing a weaker-than-expected recovery in consumer spending. Hui Ka Yan is currently being investigated over suspected "illegal crimes", Evergrande said last month. Reporting by Casey Hall; editing by Brenda Goh and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.
Persons: Colin Huang, Yin Liqin, Rich, Jack Ma, Alibaba, Richard Liu, Zhang Zetian, Rupert Hoogewerf, PDD's Temu, Zhong Shanshan, Pony Ma, Hurun, Wang Jianlin, Hui Ka Yan, Evergrande, Casey Hall, Brenda Goh Organizations: Nasdaq, REUTERS, Rights, PDD Holdings, PDD, HK, Hurun, Dalian Wanda Group, China Evergrande, Thomson Locations: New York, Shanghai, China
The culinary delights hidden inside Hong Kong’s markets
  + stars: | 2023-10-20 | by ( Maggie Wong | ) edition.cnn.com   time to read: +11 min
Hong Kong CNN —Offering everything from Michelin-endorsed dim sum to juicy smoked goose served in a world-renowned restaurant, Hong Kong is home to some of the finest culinary experiences on the planet. But don’t fret – we have put together a list of eight top-quality Hong Kong markets along with some of the best dishes to try. Queen Street Cooked Food MarketQueen Street Market serves some of the most authentic Chiuchow -- a regional Cantonese cuisine -- dishes. Maggie Wong/CNNA foodie haven in the north of Hong Kong, Yuen Long is a hub for both modern and traditional eateries. The relatively run-down look of the Fa Yuen Street Cooked Food Market inside only adds to the charm.
Persons: , Lui Ka Chun, Kongers, Lui, , Wai Kee, Maggie Wong, Kau Kee, ngau, jyu beng, Kan, Hong Kong’s, Lok Yuen, yuen yeung, Tsang Kee, Chan Chun Kee, suckling, Tai Po Hui, Lam Kee, Tung Kee, Ping Kee, Ng Zai Kee, Bon, Tsun, CNN Kwun, Long, Tim Kee, Yuen Long, it’s, Kee’s, Fa, Mui Kee Congee, Shau Kee Wan Organizations: CNN, Hong Kong CNN, Michelin, Lok, Market, Queen, Thai &, Thai & Vietnam Cuisine, ABC, Tai Po Hui, Food, hawker, Hong Kong’s, Fa Yuen, Kitchen Locations: Hong Kong, Hong, hawker, Kong’s, Kan Kee, Kowloon City, Kowloon Walled City, Lok, Beijing, Thai, Thai & Vietnam, Tai Po, New Territories, Shanghai, Kwun Tong, CNN Kwun Tong, Kowloon, Sichuan, Yuen, Mong Kok, Aldrich, Aldrich Bay, Shau
China’s GDP allows room for stimulus waiting game
  + stars: | 2023-10-18 | by ( Chan Ka Sing | ) www.reuters.com   time to read: +3 min
HONG KONG, Oct 18 (Reuters Breakingviews) - For any major economy, 5% growth ought to be respectable. Yet anxiety over the attainability of that official target this year is one reason China's policymakers have faced growing calls from global stakeholders for more stimulus. The country’s GDP has grown 5.2% in the first nine months of this year. The world’s second-biggest economy grew 5.2% in the first nine months of 2023. The Chinese government has set a 5% growth target for this year.
Persons: Una Galani, Thomas Shum Organizations: Reuters, Services, National Bureau, Statistics, Thomson Locations: HONG KONG, Beijing, China
C.J. Stroud, Texans' defense stomp out Saints
  + stars: | 2023-10-15 | by ( Field Level Media | ) www.reuters.com   time to read: +2 min
Stroud threw two touchdown passes and the Houston defense held the New Orleans Saints without a touchdown after the first quarter in the host Texans' 20-13 victory Sunday afternoon. The Texans reached the New Orleans 1-yard line midway through the third quarter before settling for Ka'imi Fairbairn's 22-yard field goal and a 20-10 lead. Blake Grupe answered with a 45-yard field goal that got the Saints within 20-13 at the end of the third quarter. Six players later, Stroud threw a 1-yard touchdown pass to Schultz for a 7-0 lead. Stroud added a 6-yard touchdown pass to Woods to increase the lead to 17-7 with 2:56 before halftime.
Persons: Stroud, Dalton Schultz, Robert Woods, Derek Carr, Blake Grupe, Grupe, Carr's, Alvin Kamara, Carr, Steven Nelson, Zack Baun, Baun, Schultz, Rashid Shaheed, Fairbairn, Woods Organizations: New, New Orleans Saints, Texans, Stroud, Saints, Houston, NFL, Thomson Locations: Houston, New Orleans
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