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☆ 3 questions about Tesla's robotaxi that Elon Musk needs to answer
▼ + stars: | 2024-10-10 | by ( Nora Naughton | ) www.businessinsider.com time to read: +6 min

AdvertisementThe stakes are high heading into Tesla's Robotaxi Day on Thursday night in California. AdvertisementAs is typical, Musk's promise that the robotaxi business was taking shape offset a major earnings miss and helped juice Tesla's languishing stock price. Spak wrote. With all this in mind, Jonas isn't sure Musk can live up to investors' high expectations. Advertisement"Tesla's future valuation is highly dependent on its ability to develop, manufacture, and commercialize autonomous technologies," Jonas wrote.

Persons: —, Elon Musk, Tesla's Uber, Musk, Joseph Spak, Spak, didn't, Tesla, Morgan Stanley, Adam Jonas, Jonas, Tesla's FSD, there's, Jonas isn't Organizations: Service, Investors, Tesla, UBS, Hertz, California Department of Motor Vehicles Locations: Tesla's, California, Robotaxi, Los Angeles

☆ Owners of 'catastrophe bonds' are staring down big losses as Hurricane Milton barrels toward Florida
▼ + stars: | 2024-10-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Hurricane Milton may cause major losses for catastrophe bond investors. AdvertisementThe back-to-back barrage of Hurricanes Helene and Milton could trigger big losses for investors in catastrophe bonds. However, on the other hand, a strong hurricane can trigger various clauses within catastrophe bonds, resulting in big losses for investors. AdvertisementHowever, according to RBC, higher reinsurance rates implemented following Hurricane Ian could soften the blow for cat bond investors, depending on the severity of Hurricane Milton. The potential for massive damage caused by Hurricane Milton, which is considered to be a once-in-a-generation event, is also dragging down global reinsurer stocks.

Persons: Milton, —, Hurricanes Helene, Hurricane Ian, Hurricane Milton, Helene, Hurricane Organizations: Service, Hurricanes, Investors, Swiss Re, Hurricane, Jefferies, RBC, Cat, Swiss Locations: Florida, Hurricane, Artemis, Hurricane Milton, North Carolina, Munich

View at Amazon What we like Check mark icon A check mark. Incredible nonstick propertiesCheck mark icon A check mark. PFAS-freeCheck mark icon A check mark. View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark.

Persons: Smart, Samantha Crozier raved, I'm, Stanley doesn't Organizations: Business, Stanley, FlexBrew, Hamilton Locations: Amazon

☆ I've been covering Prime Day for years — here are 35 deals that are more than 50% off, which is my threshold for a great discount
▼ + stars: | 2024-10-09 | by ( Lauren Savoie | Sally Kaplan | Deputy Executive Editor | ) www.businessinsider.com time to read: +9 min

View at Amazon What we like Check mark icon A check mark. Attractive, vintage lookCheck mark icon A check mark. Checked bag and carry-on bag in one matching setCheck mark icon A check mark. View at Amazon What we like Check mark icon A check mark. Excellent mappingCheck mark icon A check mark.

Persons: I've, I'm, we've, you've, vacuums, Jolene Loafer, Pullover, Taylor Organizations: Business, Deal, iRobot, Paris Chatelet Air, Alexa, Amazon, Amazon Philips, Taylor Tote

☆ How one startup is making cleaner asphalt by decarbonizing natural gas
▼ + stars: | 2024-10-08 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

"Modern Hydrogen produces clean hydrogen without renewable power. We can do this because we split apart natural gas into clean hydrogen and solid carbon," said Tony Pan, CEO of Modern Hydrogen. Natural gas is a cleaner fuel than oil, but it still emits harmful carbon dioxide when burned. Clients put the Modern Hydrogen system, which looks like a large box, where they would normally use their natural gas. Modern Hydrogen is backed by Gates Frontier, At One Ventures, National Grid Partners, NextEra Energy, Miura Group and Irongrey.

Persons: Tony Pan, Chris Kroeker, Pan, Lisa Rizzolo Organizations: Monolith, Natural Gas, Gates Frontier, One Ventures, National Grid Partners, NextEra Energy, Miura Group, National, CNBC Locations: Seattle, U.S, Canada, Japan, Long, , New York, New York

☆ The 27+ Best Wayfair Way Day Deals of 2024
▼ + stars: | 2024-10-06 | by ( Ashley Morris | Ashley Morris Is An Associate Seo Reporter For Select On Nbc News. | ) www.nbcnews.com time to read: +10 min

Below, I rounded up the best Way Day deals, all of which are highly rated and at least 20% off. SKIP AHEAD Best Way Day deals | More Way Day sales to shop | Best sales at other retailers | How I picked the best Way Day deals | Why trust NBC Select? All shoppers can participate in Way Day, however there will be additional, exclusive deals for Wayfair Professional members. Starting on September 30, daily deals will be offered on select products on each day leading up to and including the Way Day event. Best Way Day salesHere are the best Way Day sales to know about.

Persons: giveaways, Birch Lane, Joss, fryer, Mili Godio, Wayfair Birch, TikTok Organizations: Amazon, NBC, Wayfair Professional, raffles, Walmart, Facebook, Twitter

☆ My husband and I just took our first kid-free vacation. It helped me realize how much he's changed since becoming a father.
▼ + stars: | 2024-10-06 | by ( Katrina Donham | ) www.businessinsider.com time to read: +6 min

My husband and I just went on our first vacation without our kids. We left them with my mother-in-law and headed to NYC, where we used to live. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementKatrina Donham and her husband left their two daughters with her mother-in-law to go on a trip. And, though I miss the "old us," I'm enjoying the "present us" — and looking forward to the "future us," too.

Persons: what's, —, we're, Nina Chanel Abney, Katrina Donham, Donham, divulging, matrescence, Dada, welling, I'm Organizations: Service Locations: NYC, Hudson Yards, New York, Washington, Meatpacking, New York City

☆ China’s economy is in bad shape. Can its ‘whatever-it-takes’ stimulus effort turn things around?
▼ + stars: | 2024-10-06 | by ( Juliana Liu | ) edition.cnn.com time to read: +8 min

The stimulus measures should have come far sooner, says Lun, but better late than never. Beijing has largely held back on unveiling fiscal measures, which can include the use of taxation or other measures to impact public spending. Another one trillion yuan may be set aside for recapitalizing banks or helping indebted local governments to issue bonds. Jia said China’s economy had expanded sufficiently since then to support the issuance of Treasury bond financing between four trillion to 10 trillion yuan. Any meaningful stimulus measures must tackle the problem of oversupply in the property market, experts said.

Persons: Francis Lun, he’s, Lun, ”, we’re, Juliana Liu, Ray Dalio, Pan Gongsheng, Li Yunze, Wu Qing, Pan, Jing Liu, it’s, Xi, Jia Kang, Jia, Chi Lo Organizations: Hong Kong CNN —, Index, CNN, Geo Securities, Nikko Asset Management, Bridgewater Associates, National Development Reform Commission, People’s Bank of China, Financial Regulatory, China Securities Regulatory, HSBC, Reuters, Ministry, Finance, Ministry of Finance, China Academy of New, Barclays, BNP, Management Locations: China, Hong Kong, Causeway, Beijing, Renhuai

☆ ‘Hotel in nature’: Inside the world’s best new skyscraper
▼ + stars: | 2024-10-06 | by ( Oscar Holland | ) edition.cnn.com time to read: +5 min

This is Singapore’s Pan Pacific Orchard, which has just been named the world’s best new tall building by the Council on Tall Buildings and Urban Habitat (CTBUH). Video Ad Feedback Watch: Take a look inside Pan Pacific Orchard. In some areas, Singapore’s strict building codes even require property developers to include large amounts of greenery when constructing new towers. Combined, the green spaces at Pan Pacific Orchard amount to around three times more than this legal minimum. “Pan Pacific Orchard represents the best in responsible vertical urbanism today,” said CTBUH’s CEO, Javier Quintana de Uña, in a statement.

Persons: Darren Soh, ”, Hong Wei, Phua, Singapore’s, Lee Kuan Yew, Marc Tan, Mun Summ Wong, 3XN, Javier Quintana de Uña Organizations: Singapore CNN, CNN, UOL Group, Pan, ”, Vanderbilt Locations: Singapore, Pacific, WOHA, Orchard, ”, Pacific Orchard, New York City

☆ Turn vegetables from a necessary side to a main attraction
▼ + stars: | 2024-10-05 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +8 min

With a full harvest of colder-month produce in the grocery store, here is how you can fall in love with vegetables. The crispy outside is nice, but it is important to pair that with a tender inside when it comes to these winter vegetables, Chambers said. Caroline Chambers' Harissa Roasted Veggies demonstrates how you can add some flavor to your dishes once you have cooked your veggies right. Remove the roasted veggies from the oven and transfer to a cooling rack. Spread a nice spoonful of whipped feta over the bottom of a bowl or plate and top it with a pile of roasted veggies and a sprinkle of nuts.

Persons: Caroline Chambers, Cook, Chambers, Eva Kolenko, “, they’re, ”, “ That’s, “ You’re, ” Chambers, burrata Organizations: CNN, & Co, Union Square & Co Locations: Carmel Valley , California, brussels

☆ The world’s first Nintendo Museum is now open
▼ + stars: | 2024-10-02 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +4 min

If these games played an important part in your childhood, Japan’s long-awaited new Nintendo Museum is a must-visit. Opened to the public on October 2, the interactive space is set in the video game company’s former factory complex in Uji, about an hour south of the city of Kyoto. Spread across three main buildings, the Nintendo Museum leads visitors through the company’s 135-year history with an exhaustive exhibition that includes rare consoles and prototypes, interactive games, experiences and even a themed burger restaurant. Meanwhile, “Big Controller” lets players collaborate and play classic Nintendo games on, as the name suggests, oversized controllers designed to look like the originals from consoles like Wii and Famicom. The courtyard of the new Nintendo Museum.

Persons: Mario, Donkey, Japan’s, Mario –, Shigeru Miyamoto, Super, Richard A, Brooks, ”, Burger Organizations: CNN, Nintendo Entertainment, Nintendo, Nintendo Museum, Super Nintendo, Super Mario, Visitors, Getty, Wii Locations: Donkey Kong, Uji, Kyoto, Osaka, AFP, Japanese, ”

☆ European markets slightly higher as investors look beyond Middle East tensions
▼ + stars: | 2024-10-02 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — European stocks were slightly higher Wednesday as investors attempted to look beyond escalating tensions in the Middle East and await fresh employment data out of the region. The pan-European Stoxx 600 was up 0.35% in opening trade, with the majority of sectors and major bourses moving in the green. Oil and gas stocks added 2.42% on the prospect of supply disruptions in the Middle East, while travel and leisure stocks dipped 0.25% as airlines diverted flights out of the region. Meantime, shares of British sports retailer JD Sports fell 3.5% even as the company reported expectation-beating revenues and profits for the first half. The attack came on the heels of Israel's deployment of ground forces into south Lebanon, escalating its offensive on Hezbollah, the Iran-backed militant group.

Persons: Hassan Nasrallah Organizations: Saab, BAE Systems, Thales, Rheinmetall, JD Sports, Nike, Nasdaq, Hezbollah Locations: Iran, Israel, Iranian, Lebanon

☆ CNBC Daily Open: Markets just had an expectations-defying month
▼ + stars: | 2024-10-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Winning month and quarterU.S. markets rose on Monday to finish a winning month and quarter. In a filing, Cerebras reported a net loss of $127.2 million on revenue of $78.7 million for 2023. Markets predict measured response from IranIsrael has escalated fighting with Lebanese militia group Hezbollah, hitting Iran's proxy network across the Middle East.

Persons: Tesla, Jerome Powell, Powell, Cerebras, Michael Santoli Organizations: CNBC, . Federal, National Association for Business Economics, Nvidia, Systems, Nasdaq, Lebanese, Hezbollah Locations: Milan, Stellantis, Iran Israel, Iran, U.S, Beijing

His supporters have dubbed Marwan Barghouti the “Palestinian Nelson Mandela” in the hope that after more than two decades behind bars, he can emulate the late South African leader and make the journey from prisoner to national unifier. At that time, Palestinian militants carried out deadly suicide bombings and shootings inside both Israel and the Palestinian territories, targeting buses, restaurants and hotels. “He’s someone who creates something out of nothing, and he believes in education for the Palestinian people,” Arab Barghouti added. Palestinian protesters wave flags and placards bearing portraits of Fatah leader Marwan Barghouti in 2015. “Ami Ayalon and others have said Marwan Barghouti may be the one leader who can be an effective partner for peace,” he said.

Persons: Yasser Arafat, Marwan Barghouti, Nelson Mandela ”, Ami Ayalon, Mahmoud Abbas, Yahya Sinwar, “, ”, Arab, Barghouti, Father Germanos, masterminding, Arafat, Fatah, William Campbell, Marco Longari, Abbas, ” Mira Al, he’s, Osama Hamdan, Abbas Momani, Ayalon, Shin, I’m, Sen, Chris Van Hollen, “ Ami Ayalon, Israel, Gilad Shalit, They’re, Benjamin Netanyahu’s, Barghouti’s, Fadwa, ‘ I’m, ’ Organizations: Bank, West Bank, Palestinian Center, Policy, Survey Research, Hamas, American Embassy, NBC News, U.S . Office, Palestinian Affairs, Prosecutors, European Council, Foreign Relations, Brigades, Fatah, ., “, Getty, West, Palestinian Authority, State Department, Senate Foreign Relations, NBC, National Organization of Locations: RAMALLAH, Jerusalem, Ramallah, Israel, Gaza, American, Tel Aviv, Fatah, West Bank, Kobar, Aqsa, AFP, Palestinian, East Jerusalem, ”, Palestine

☆ Europe set to start the last trading session of September in negative territory
▼ + stars: | 2024-09-30 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

LONDON — European stocks are expected to start the week and the final trading session of September on Monday in negative territory. The U.K.'s FTSE index is seen opening 16 points lower at 8,305, Germany's DAX 43 points lower at 19,434, France's CAC 40 down 7 points at 7,791 and Italy's FTSE MIB 1 point lower at 34,626, according to data from IG. The lackluster start for European markets comes after the pan-European Stoxx 600 index closed at a fresh record high on Friday, as stocks got a boost from China's announcement last week of a range of stimulus measures that aim to boost the economy. Overnight in the Asia-Pacific region, stocks in mainland China spiked over 6% while Japan's Nikkei 225 tumbled 4.64%, as investors assessed key economic data from the two countries.

Persons: Germany's DAX Organizations: CAC, IG, Nikkei Locations: Asia, Pacific, China

☆ China's $114 billion stimulus package immediately boosted its stock market. But can it last?
▼ + stars: | 2024-09-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

AdvertisementUS financial firms' interest in China was on its last legs, but a new stimulus package has some investors excited again. The immediate impact of China's $114 billion package, which includes cutting interest rates and reducing the amount of money banks need to keep in reserve, has been big. Traders, investors, and speculators have sent China's stock market to its best month in nearly a decade , signaling that the market players think that Beijing's moves are a "bazooka." Our annual list of Wall Street rising stars is here. According to a new report from The Wall Street Journal, executives attempted to woo the AI researcher back before rescinding the offer.

Persons: —, Andres Martinez Casares, Alyssa Powell, Linette Lopez isn't, Linette, Jon Hicks, that's, David Tepper, He's, Tepper, Pan Gongsheng, BI's Filip De Mott, Wall, Natalie Ammari, Crypto, Donald Trump, Kamala Harris, Marc Piasecki, Tyler Le, who's, OpenAI execs, Ilya Sutskever, it's, Tara Anand, aren't, Jerome Powell, Ryan Routh, El Chapo, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Traders, Bank of China, bros, Trump, Getty, Houston Chronicle, Hearst Newspapers, Elon, Wall Street Journal, Netflix, Longshoremen's Association, National Association for Business Locations: China, New York, London, Chicago

☆ China's stimulus isn't enough for its economic woes. But its stock rally could help.
▼ + stars: | 2024-09-30 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China's aggressive stimulus measures have sparked a significant stock market rally. Still, traders, investors, and speculators have sent China's stock market to its best month in nearly a decade, signaling that the market players think that Beijing's moves are a "bazooka." The People's Bank of China's stock market stimulus was unusual. An active stock market and improved investor confidence will improve expectations for economic development," the media outlet wrote. Mainland China's stock markets will also be closed from Tuesday to Monday.

Persons: —, Vishnu, Pan Gongsheng, Pan, Criss Wang, Data.TS, Varathan Organizations: Service, CSI, People's Bank, China Securities Journal, Chinese Communist Party, Hong Kong Stock Exchange Locations: China, Asia, Japan

☆ How Prada is beating the odds and bucking the luxury slump
▼ + stars: | 2024-09-30 | by ( Madeline Berg | ) www.businessinsider.com time to read: +10 min

"I think the 'miracle' at Prada is Miu Miu," Luca Solca, a senior analyst at Bernstein, told Business Insider. Miu Miu is doing just that. "Miu Miu is resonating with consumers because of a savvy mix of product and communication marketing," Solca said. Miu Miu has embraced stars (Sydney Sweeney and Gigi Hadid were featured in recent campaigns), which has energized its following. AdvertisementIn short — pun intended — you can't get trendier than Miu Miu right now, and being trendy is good for business.

Persons: that's, Miu Miu, Luca Solca, Bernstein, Miu, —, Moncler, Stifel's Rogerio Fujimori, Edward Berthelot, Solca, Sydney Sweeney, Gigi Hadid, Lexie Liu, Zhao Jinmai, Wu Yanshu, Miu Miu's Mary Jane, It's, Prada, Prada hadn't, Jelena Sokolova, Morningstar, Burberry, Gucci, Andrea Guerra, Raf Simons, Muccia Prada, Goldman Sachs, Gen, Scarlett Johansson, Arqué, Sokolova, Alessandro Michele, Guerra, L'Oréal, " Guerra Organizations: Prada, HSBC, Little, Business, New York Times, LVMH, Gucci Locations: Prada, Asia, China, Tokyo, Taipei, Nanjing, LVMH, Hong Kong

☆ Stocks to play the China trade until the latest stimulus package kicks in
▼ + stars: | 2024-09-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Until the government's measures pan out, investment strategists are recommending a handful of oversold stocks in China. U.S. hedge fund billionaire David Tepper said Thursday on CNBC's " Squawk Box " that he bought more Chinese stocks after the change in China policy. That hedge fund allocation rose to 7.3% on Tuesday, which saw the largest single day purchases by hedge funds since March 2021, Rubner said. Retail investors account for the majority of trading activity in mainland Chinese stocks, also known as A shares. Mainland Chinese stock exchanges are scheduled to close from Oct. 1 to Oct. 7 for a holiday, which this year commemorates the 75th anniversary of the People's Republic of China.

Persons: Wendy Liu, Rupal Agarwal, Bernstein, David Tepper, Donald Trump, Tepper, Pan Gongsheng, Xi Jinping, Scott Rubner, Goldman Sachs, Rubner, Goldman, China hasn't, Li Dongfang, Li, financials, — CNBC's Michael Bloom Organizations: CSI, JPMorgan, Tal Education, Huawei, People's Bank of China, CNBC, HK Locations: Shanghai, Shenzhen, China, Tsingtao, U.S, Zhejiang, Asia, Hong Kong, Beijing, Mainland, People's Republic of China

☆ Despite Stock Market Hopes, China's Stimulus Plan Won't Fix Economy
▼ + stars: | 2024-09-29 | by ( Linette Lopez | ) www.businessinsider.com time to read: +7 min

Homebuyers can also now put less money down on their purchases — an attempt to breathe life into China's moribund property market. Since the pandemic, China's leader, Xi Jinping, has done little to stop the bleeding in the country's property market or to get China's ailing consumers to start spending money again. Xi's Beijing lacks the will and the power to turn China's economy around. At the heart of its problems is a lack of consumer demand and a property market going through a deep, slow-moving correction. Plus, there's Xi, who seems fairly uninterested in restructuring the property market.

Persons: Gongsheng, Wall, Xi Jinping, China —, Goldman Sachs, —, Sam Altman, Genéralé, Michael Pettis, Xi doesn't, Friedrich Hayek, Xi Organizations: Beijing, People's Bank of China, People's Bank, Shanghai, Chinese Communist Party, Nasdaq, CCP, Peking University, Carnegie Endowment, European Union Locations: China's, China, Beijing, Austrian

☆ Harris leads with Latino voters, but the economy narrows the margin for Dems: Survey
▼ + stars: | 2024-09-29 | by ( Steve Liesman | ) www.cnbc.com time to read: +6 min

The survey of 1,000 Latino likely voters found the Democratic presidential candidate, Vice President Kamala Harris, leading the Republican candidate, former President Donald Trump, by 54% to 40%. Harris's 14-point lead is the narrowest margin for a Democratic candidate among surveyed Latino voters in at least the past four elections, going back to 2012. All of these groups rate the economy poorly, with Latino voters overall about as downbeat on the economy as the rest of the country. While that's about equal to the rest of the population, it stands 11 points higher than in the NBC 2022 Latino survey. Here is a demographic profile of Latino voters from the NBC/CNBC/Telemundo survey:

Persons: Donald Trump, Kamala Harris, Joe Biden, Hillary Clinton, Aileen Cardona, Arroyo, Micah Roberts, Republican pollster, Harris, Trump, Harris's, Biden, That's, it's Organizations: Republican, Democratic, National Constitution Center, Republicans, NBC, CNBC, Telemundo, Trump, Hart Research, America Economic Survey Locations: Philadelphia , Pennsylvania, America

☆ Austria’s far-right is the frontrunner for Sunday’s elections. How did it get here?
▼ + stars: | 2024-09-28 | by ( Sophie Tanno | ) edition.cnn.com time to read: +10 min

The FPÖ is known as the grandfather of European far-right parties and pedals an anti-migrant, anti-Islam, Eurosceptic and anti-vaxx agenda. It has held power at a federal level three times, in coalition with other groupings, making it one of just a few far-right parties in Europe to have done so. AFP/Getty ImagesIts political stance changed again when Jörg Haider – the son of former Nazi party members – became leader of the party in 1986. FPÖ leader Herbert Kickl speaks to supporters ahead of European parliamentary elections on June 7. According to Reinhard, the FPÖ is more likely to form a government if it comes second than if it comes first.

Persons: –, ” Benjamin Biard, FPÖ, ” Biard, “, ”, Biard, Heinz, Christian Strache, Jörg Haider –, Haider, ’, Herbert Kickl, Taylor, “ remigration, Christian Bruna, Viktor Orban –, Vladimir Putin’s, Kickl, ” Heinisch Reinhardt, Reinhardt, Karl Nehammer, Thomas Kronsteiner, Reinhard, ” Reinhard Organizations: CNN, Party, Italian Lega, Dutch Party for Freedom, “, Getty, Nazi, Austrian People’s Party, EU, Hungary’s Fidesz, Greens, University of Salzburg, Social Democrats Locations: Austria, Europe, Brussels, Flemish, Italian, Germany, Nazi, Austrian, Salzburg, AFP, Ukraine, Vienna, Lower Austria, Russia, loggerheads, ÖVP

☆ European markets head for higher open as investors weigh global economic outlook
▼ + stars: | 2024-09-27 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

LONDON — European markets headed for a higher open on Friday as investors weighed the outlook for the economy and looked to fresh data. European stocks had climbed Thursday, with the pan-European Stoxx 600 closing 1.25% higher after being boosted by gains in Asia-Pacific markets. Those widely continued their climb on Friday, still buoyed by China's announcement of stimulus measures earlier in the week. Economists are expecting headline PCE to have risen 2.3% on an annual basis and 0.1% from the previous month. Back in Europe, preliminary inflation data for September is expected out of France, and the latest German unemployment data is also due.

Persons: Germany's DAX Organizations: CAC, MIB, LONDON, People's Bank of, PCE Locations: Asia, Pacific, People's Bank of China, U.S, Europe, France

☆ French tycoon gains $17 billion from China’s economic stimulus push
▼ + stars: | 2024-09-27 | by ( Juliana Liu | ) edition.cnn.com time to read: +4 min

But by the end of the day, his net worth jumped by $17 billion to $201 billion, the index reported, calling it his third-biggest daily increase ever. That market, which accounted for 31% of total revenue last year, is dominated by China. Hong Kong’s benchmark Hang Seng index has added just over 12% so far this week, while mainland China’s blue-chip CSI300 has gained more than 15%. However, experts urged investors to be cautious as officials must still come up with ways of stabilizing the property market, which once accounted for as much as 30% of economic activity. It began to cool in 2019 and fell into a deep trough about two years later, after a government-led clampdown on developers’ borrowing.

Persons: Bernard Arnault isn’t, Arnault, LVMH, “, Nomura, Xi Jinping, Pan Gongsheng, Pan Organizations: Hong Kong CNN, LVMH, Bloomberg, Markets, People’s Bank of China Locations: China, Hong Kong, LVMH, Paris, Asia, “ Beijing

☆ China cuts banks' reserve ratio as economic growth sputters
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: +1 min

The People's Bank of China (PBOC) building in Beijing, China, on Tuesday, April 18, 2023. Source: BloombergChina's central bank said on Friday it would cut the amount of cash that banks must hold as reserves by 50 basis points, the second reduction this year aimed at bolstering faltering economic growth. The People's Bank of China said it would cut the reserve requirement ratio for all banks, except those that have implemented a 5% reserve ratio. "The PBOC has adhered to a supportive monetary policy stance, increased the intensity of monetary policy regulation and control, and improved the precision of monetary policy regulation and control, so as to create a favourable monetary and financial environment for China's stable economic growth," its statement said. But analysts have noted businesses and consumers have little appetite to take on fresh debt given the uncertain economic outlook.

Persons: Pan Gongsheng, Pan Organizations: People's Bank of China, Bloomberg, PBOC, People's Bank of Locations: Beijing, China, People's Bank of China

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