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☆ Bitcoin halving is likely this week — here's what you need to know
▼ + stars: | 2024-04-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +27 min

And that's, that's the whole idea of it. Tom ChittySo if I go and buy bitcoin, the bitcoin I buy is fresh bitcoin that's been mined, not someone who's selling bitcoin is that right? Arjun KharpalThe likelihood is if you buy bitcoin, if we go on an exchange and buy bitcoin, we're selling bitcoin that's in existence already. And so what they say is, well, with the halving, you know, bitcoin will not be devalued. That's that's really what so many of the enthusiasts and proponents love about it.

Persons: Bitcoin, Tom Chitty, Arjun, we'll, Ethereum, Arjun Kharpal Paris, Kharpal, we've, Arjun Kharpal, Tom Chitty 13,777B, that's, what's, they're, bitcoin, there's, That's, It's, you've, Richard Tang, Richard Teng, I'm, he's, Arjun Kharpal That's, Tom, it's, Tom Chitty That's, I've, Arjun Kharpal It's, they've, Binance, Arjun Kharpal Binance, Changpeng Zhao, cryptocurrency, Jan van Eck, Jean, Marie Mognetti, van Eck, Jan Van Eck, Cathy, Gary Gensler, let's, Tom Chitty Let's, Tom Chitty Oh, There's, Tom Chitty Memecoins, Arjun Kharpal They're, we'd, David Hunt, David, Tom Chitty Poor David, Paris, Tom Chitty We'll Organizations: CNBC, Eurostar, U.S ., Paris, Department of Justice, U.S, CZ, DOJ, SEC, Mr, Gamestop Locations: beyondthevalley@cnbc.com, Paris, CNBC.com, bitcoin, U.S, Abu Dhabi, Binance, Chicago, Pennsylvania, Elmira , New York, NYC , New York City, Syracuse, Elmira, it's

☆ 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

☆ Should you refinance your mortgage? Here are three signs it's time, real estate experts say
▼ + stars: | 2024-04-10 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Thanks to those high mortgage interest rates, refinance activity in 2023 was at the lowest level in 30 years. In the first and second quarters of 2023 there was only $75 billion and $80 billion, respectively, in mortgage refinance originations nationally, according to Freddie Mac, a government-sponsored entity that buys mortgages from banks. "We're just in a much higher interest rate situation with the economy," she said. "We've been so accustomed to mortgage rates as a baseline being at 2% or 3%," said Veronica Fuentes, a certified financial planner at Northwestern Mutual. Some lenders may require a higher interest rate if you finance closing costs, plus you'll be paying interest on those expenses for the life of the mortgage.

Persons: Freddie Mac, Jeff Ostrowski, Chen Zhao, Zhao, We've, Veronica Fuentes, that's, Ostrowski, CoreLogic's Organizations: Westend61, Getty, Federal Reserve, Northwestern Mutual

☆ China is sending its highest-level delegation to North Korea since 2019 to kick off a ‘friendship year’
▼ + stars: | 2024-04-10 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +7 min

The three-day visit, at North Korea’s invitation, shows the “great importance” China attaches to those relations, a Chinese Foreign Ministry spokesperson said. The delegation will also arrive amid heightened global concern about North Korea, which has in recent months ramped up its bellicose rhetoric and continued its weapons testing. The trip could also be an important opportunity for the upper echelons of China’s political establishment to better understand the circumstances in North Korea today. Balance of powerChina has long walked a thin line in its relations with North Korea. It is a critical economic lifeline for a North Korea crippled by international sanctions over its illegal weapons testing.

Persons: Zhao Leji, ”, KCNA, Zhao, Xi Jinping, China’s, Joe Biden, Fumio Kishida, Kishida, Li Qiang, Liu Dongshu, …, ” Liu, Kim, Li Mingjiang, Vladimir Putin, Yun Sun Organizations: Hong Kong CNN — China’s, Beijing, Foreign Ministry, Japanese, CNN, Communist, North Korea –, Hong Kong’s City University, North, Singapore’s Nanyang Technological University, “, United Nations Security, Stimson Locations: China, Hong Kong, North Korea, Pyongyang, Beijing, Moscow, United States, North, Japan, South Korea, Ukraine, Asia, Washington, Philippines, Russia, North Korean, Covid, Pacific, American

☆ China’s Xi to host former Taiwan president in Beijing, in rare meeting echoing bygone era of warmer ties
▼ + stars: | 2024-04-10 | by ( Nectar Gan | Wayne Chang | ) edition.cnn.com time to read: +10 min

Joint concerns over China’s increasing assertiveness under Xi, including toward Taiwan, are a key driver of that summit. Chinese leader Xi Jinping shakes hands with then Taiwan President Ma Ying-jeou before their meeting in Singapore on November 7, 2015. Taiwan's former President Ma Ying-jeou speaks to reporters ahead of his visit to China at the Taoyuan International Airport on April 1, 2024. Ma Ying-jeou” or former chairman of the KMT, with no mention of his former role as the president of Taiwan. Reaction in TaiwanMa’s itinerary – and his meeting with Xi – has been closely watched in Taiwan.

Persons: Xi Jinping, Ma Ying, Xi, Chiang Kai, Eric Chu, Ma, ” Chu, Lai Ching, Joe Biden, Biden, Fumio Kishida, Roslan Rahman, Amanda Hsiao, “, underscoring, ’ ”, Tsai Ing, –, Lai, Lai’s, fixating, ”, ” Sung, China –, Ma’s, Hsiao, Yan Zhao, Mr, Sun, Xi –, Sung, ” Ma, James Chen Organizations: Hong Kong CNN, Beijing, Kuomintang, KMT, China’s, shek’s Nationalists, –, Democratic Progressive Party, CNN Beijing, Japanese, Getty, International Crisis, Atlantic, “, Taoyuan International Airport, Communists, Nationalists, Atlantic Council, Taiwan’s Tamkang University, DPP Locations: China, Hong Kong, Taiwan, Beijing, Taipei, Singapore, Washington, Japan, Philippines, AFP, Taoyuan, Guangzhou, Republic of China, Shaanxi, United States, China . Washington

☆ Binance has matured past cultural issues, CEO says, after $4.3 billion U.S. DOJ settlement
▼ + stars: | 2024-04-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Binance CEO Richard Teng at the Paris Blockchain Week summit in Paris, France, on Tuesday, April 9, 2024. Binance's new CEO Richard Teng said the company has moved past cultural issues after the company was hit with a $4.3 billion fine to settle charges from the U.S. Justice Department. "But we have moved past that, as the company moved into regulatory maturity, [and] we are moving toward sustainability." In November, Binance agreed to pay a $4.3 billion settlement to the U.S. government, including a forfeiture of $2.5 billion and a fine of $1.8 billion. Former Binance CEO Changpeng Zhao was charged with violating the Bank Secrecy Act and agreed to step down.

Persons: Richard Teng, Binance, Teng, CNBC's Arjun Kharpal, Changpeng Zhao, Zhao Organizations: Paris, U.S . Justice Department, DOJ, ., U.S, BSA, Justice Department Locations: Paris, France, Binance, U.S

☆ China’s Young People Are Giving Up on Saving for Retirement
▼ + stars: | 2024-04-05 | by ( Alexandra Stevenson | Siyi Zhao | ) www.nytimes.com time to read: 1 min

China wants young people to put money away for retirement. Tao Swift, an unemployed 30-year-old, is not interested in hearing it. On social media forums and among friends, young people are questioning whether to save for old age. Over less than three decades, the country has changed from a young society to an aging one. Seven straight years of plummeting births are pushing up the day when there will be fewer people working than retirees.

Persons: Tao Swift, “, ”, Mr, Tao Locations: China, Chengdu

Hualien, Taiwan CNN —Wu was preparing breakfast for guests at the small hotel he runs in Taiwan’s Hualien County when the shelves around him shook violently and the mountain behind his house roared. “It’s not too bad.”Video Ad Feedback Rescue efforts underway in Taiwan after deadly earthquake 02:54 - Source: CNNA checkpoint is set up outside Taroko Gorge just north of Hualien city in Taiwan. Yan Zhao/AFP/Getty ImagesWorkers demolish a damaged building following the earthquake in Hualien County, Taiwan on April 4, 2024. Annabelle Chih/Getty ImagesTaiwan’s recent push for preparedness comes from the hard lessons learned from the devastating quake 25 years ago, experts say. That quake left more than 100,000 buildings across Taiwan completely or partially collapsed, including nearly 300 schools.

Persons: Taiwan CNN — Wu, Wu, “, ”, It’s, Annabelle Chih, Chong, “ I’ve, Hualien . Yan Zhao, Tyrone Siu, Daniel Aldrich, Sam Yeh, Aldrich, ” Aldrich, “ They’ve, –, Wei Chia, Wei Organizations: Taiwan CNN, CNN, ”, Getty, Workers, Reuters, Northeastern University Locations: Hualien, Taiwan, Taiwan’s Hualien County, Taroko, Hiroshima, Hong Kong, Shanghai, “, Hualien . Yan, AFP, Hualien County, Haiti, India, China, Taipei

When the largest earthquake in Taiwan in half a century struck off its east coast, the buildings in the closest city, Hualien, swayed and rocked. As more than 300 aftershocks rocked the island over the next 24 hours to Thursday morning, the buildings shook again and again. One of them, the rounded, red brick Uranus Building, which leaned precariously after its first floors collapsed, was mostly drawing curious onlookers. The building is a reminder of how much Taiwan has prepared for disasters like the magnitude-7.4 earthquake that jolted the island on Wednesday. Of Taiwan, he added: “And most of these deaths, it seems, have come from rock slides and boulders, rather than building collapses.”

Persons: ”, Daniel Aldrich Organizations: Global Resilience, Northeastern University Locations: Taiwan, Hualien

☆ A billionaire helped bring ‘3-Body Problem’ to Netflix. His business partner ensured he never lived to see its premiere
▼ + stars: | 2024-04-03 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —Lin Qi, a billionaire fan of “The Three-Body Problem,” had big plans to bring his favorite Chinese sci-fi novel to TV, cinema and video-game screens across the world. Xu was sentenced to death for murder by a court in Shanghai on March 22 - the day after the much-anticipated debut of “3 Body Problem” on Netflix. 3 Body Problem. Soon, he was sidelined, with key projects handed to another executive, Zhao Jilong, one of the executives who would later have his drinks poisoned by Xu, according to Caixin. When Netflix announced its adaptation project of “The Three-Body Problem” in September 2020, Lin and Zhao were listed as executive producers, with Xu’s name conspicuously missing.

Persons: Hong Kong CNN — Lin Qi, ”, Lin, Lin’s, Xu Yao, Xu, Caixin, John Bradley, Jack Rooney, Jess Hong, Jin Cheng, Mark Gatiss, Isaac Newton, Reece Shearsmith, Alan Turing, Jenson Cheng, Kublai Khan, Netflix Xu, China’s, Liu Cixin, Zhao Jilong, Zhao, Yoozoo, “ Xu Yao’s Organizations: Hong Kong CNN, “, Netflix, Lin’s Yoozoo, Yoozoo Games, Phoenix News Locations: China, Hong Kong, Shanghai, pufferfish, Japan, France, United States

It was so strong it set off tsunami warnings in Japan, China and the Philippines. But then, even in a fault-riddled place with long and hard experience with earthquakes, the jolt of aftershock after aftershock was startling, continuing every few minutes throughout the day. The magnitude-7.4 quake killed nine and injured at least 1,011 others, stretching an expert quake response system that has served as a model in other places. In Hualien County, close to the epicenter, 71 people were trapped in two mining areas as of Wednesday night and dozens of others were stranded, according to officials. Around 14,000 households were without water, and 1,000 households were without power.

Persons: aftershock Locations: Taiwan, Japan, China, Philippines, Hualien County

☆ Housing 'affordability has just totally collapsed,' economist says
▼ + stars: | 2024-04-02 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

"Since the pandemic, affordability has just totally collapsed," said Chen Zhao, a senior economist at Redfin. February 2021 was the last month when the typical household earned more money than they needed to afford the median home. The U.S. Department of Housing and Urban Development (HUD) sets the standard of affordability at 30% of household income. Affordability deficit narrowed in FebruaryThe average household fell short $29,448 to afford a home in February, according to Redfin. The affordability deficit narrowed because rates have been on a consistent decline since the last peak in October, according to Zhao.

Persons: Chen Zhao, They've, Zhao, It's, Jeff Ostrowski, Veronica Fuentes, Fuentes, Ostrowski, Buyers, Redfin, Louis, What's Organizations: Getty, Redfin, Finance, U.S . Department of Housing, Urban Development, Northwestern Mutual, Cleveland Locations: U.S, Detroit, Pittsburgh, St, Philadelphia, Indianapolis, Warren, Mich, Cincinnati, Milwaukee , Kansas City , Virginia Beach, Va, Antonio, Columbus , Ohio

The temblor set off at least nine landslides, collapsing hillsides onto the Suhua Highway in Hualien, according to local media reports. The quake was centered in the waters off Hualien, according to the United States Geological Survey. The epicenter was about 10 miles under the earth’s surface, according to Taiwan. Here is the latest: In Japan, tsunami waves as high as 30 centimeters hit the shore on Yonaguni Island at 9:14 a.m. local time. People in China took to social media saying they felt the tremors as far as away as Hangzhou, Xiamen, and Shanghai.

Persons: Tobin, Motoko Rich Organizations: Rail, United States Geological Survey, Weather Administration, U.S . Pacific, Warning Locations: Taiwan, Japan, Hualien, Taiwan’s, Taipei, People, China, Hangzhou, Xiamen, Shanghai

Starting Monday, fast-food workers in California at chains with more than 60 national locations earn $20 an hour, higher than the state's broader minimum wage of $16 per hour. California pay is already highwatch nowWhile the new fast-food minimum wage is among the highest in the U.S., California employers are used to paying more for their labor. Even when it is not mandated, restaurants usually find themselves paying more than the minimum wage to attract hourly workers. As a full-service restaurant chain, the company won't be obligated to pay its California workers $20 an hour. Advocates prepare to go biggerFrom start to finish, the California law, which was backed by the Service Employees International Union, has been controversial.

Persons: David Paul Morris, Gavin Newsom, Matthew Haller, Daniel Zhao, Zhao, Lauren Crabbe, she's, Crabbe, Matthew Clark, Jennifer B, Perez, I'm, it's, Newsom, Greg Flynn, Flynn Organizations: McDonald's Corp, Bloomberg, Getty, International Franchise Association, CNBC, Bureau of Labor Statistics, Service Employees International Union, Gov, SEIU Locations: Oakland , California, U.S, California, , California, Fresno, San Francisco, Long Beach

The official purchasing managers index, or PMI, rose from 49.1 in February to 50.8 in March. The monthly manufacturing PMI has mostly been under 50 over the past 12 months: Other than this month, factory activities only recorded an expansion in September. Zhao said the survey also showed some problems for companies remained, including increasing competition in industries and a lack of market demand. And it said 10.4 billion yuan ($1.4 billion) would go to upgrading industries and modernizing manufacturing. According to the survey released Sunday, the non-manufacturing PMI rose to 53 from 51.4 in February.

Persons: Zhao Qinghe, Zhao Organizations: BEIJING, —, PMI, National Bureau, Statistics, National People’s Congress, Communist Locations: China

☆ Penthouse to prison: Sam Bankman-Fried's journey from crypto king to convicted conman
▼ + stars: | 2024-03-27 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

Bankman-Fried, the founder and former CEO of failed crypto exchange FTX, will head on Thursday to a federal court in downtown Manhattan, where U.S. District Judge Lewis Kaplan will deliver his sentencing. After a month of personally dabbling in the market, Bankman-Fried launched Alameda Research, named after the California county that housed his first office. The so-called crypto winter of 2022 wiped out hedge funds and lenders across the crypto universe. May of 2022 brought the crash of stablecoin Luna, creating a domino effect that sent crypto prices plunging, devastating other lenders. On Nov. 2, 2022, crypto trade site CoinDesk publicized details of Alameda's balance sheet, which showed $14.6 billion in assets.

Persons: Samuel Bankman, MacKenzie Sigalos, Sam Bankman, Fried, Damian Williams, District Judge Lewis Kaplan, they'd, FTX, Amr Alfiky, Jane Street, Goldman Sachs, stablecoin Luna, Solana, Changpeng Zhao, Binance, Zhao, Jane Rosenberg, he'd, Cromwell, John J, Ray, confidants, — CNBC's Rohan Goswami Organizations: CNBC, Metropolitan Detention, U.S, District, Prosecutors, Reuters, Jane, Alameda Research, Formula, Democratic, Voyager, Alameda, FTX, Industry, Investors, Enron, Securities and Exchange Commission, Stanford University Locations: San Francisco, he's, Brooklyn, Manhattan, U.S, New York City, South Korea, Alameda, California, Miami, Washington, Solana, FTX, New York, Palo Alto , California

☆ U.S. and Britain accuse China-linked hackers of ‘malicious’ cyber campaigns, announce sanctions
▼ + stars: | 2024-03-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

BeeBright | Getty ImagesLONDON — The U.S. and U.K. on Monday accused hackers linked to the Chinese state of being behind "malicious" cyber campaigns targeting political figures, in moves expected to stoke tensions with Beijing. The British government also alleged that China-affiliated hackers were behind an attack that saw the data of millions of voters accessed. "I can confirm today that Chinese state-affiliated actors were responsible for two malicious cyber campaigns targeting our democratic institutions and parliamentarians," British Deputy Prime Minister Oliver Dowden said in a speech to Parliament on Monday. "We want now to be as open as possible with the House and the British public," Dowden said. U.S. hits out at ChinaSeparately, the U.S. Justice Department unsealed an indictment Monday accusing Chinese state-linked hackers of being behind cyber campaigns targeting U.S. businesses, government officials and politicians.

Persons: Oliver Dowden, Dowden, Ni Gaobin, Weng Ming, Cheng Feng, Peng Yaowen, Xiong Wang, Zhao Guangzong, Merrick B, Garland Organizations: Getty, stoke, Electoral, Electoral Commission, Embassy, Google, APT31, U.S . Justice Department, DOJ Locations: U.S, Beijing, China, Britain, APT31 ., United States

☆ American workers are losing confidence in their CEOs
▼ + stars: | 2024-03-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

47% of workers said they felt worried about their job security, according to a 2023 survey conducted by McKinsey & Company. AdvertisementThe job market looks to be cooling off even as the economy looks like it is going strong. New LandscapeFor disgruntled workers, it may help to hear that CEOs also are getting pushed out at the fastest pace in decades. The job market is expected to slow in 2024, he estimated, pointing to the deceleration in hiring activity. AdvertisementTotal full-time workers declined in February, the first decline posted since the pandemic, according to the Bureau of Labor Statistics.

Persons: —, Daniel Zhao, Zhao, Jamie Dimon, Andrew Challenger, Challenger, Zhao doesn't Organizations: Service, Business, Glassdoor, JPMorgan, McKinsey & Company, Challenger, Bureau of Labor Statistics

☆ What China Is Saying About the TikTok Furor in Washington
▼ + stars: | 2024-03-15 | by ( Meaghan Tobin | Siyi Zhao | ) www.nytimes.com time to read: +1 min

This is not the first time that China has seen a frenzy over TikTok consume Washington. In 2020, former President Donald J. Trump issued an executive order that would have forced TikTok’s Chinese owners to sell the popular app. Now, U.S. lawmakers are again attempting to force ByteDance, TikTok’s Chinese owner, to give up control of the app. Instead, officials in Beijing have blasted the bill but largely reiterated common criticisms of U.S. policy as unfair to China. Mr. Trump, the expected Republican presidential nominee, has said he opposes the bill despite his 2020 executive order against TikTok.

Persons: Donald J, Trump, ByteDance Organizations: TikTok Locations: China, Washington, Beijing, Montana, U.S, United States

(Photo by WANG Zhao / AFP) (Photo by WANG ZHAO/AFP via Getty Images)BEIJING — China's top securities regulator vowed to "strictly" crack down on market manipulators, while stating that protecting small investors was a "core task." Wu outlined measures deemed necessary to improve the quality of listed companies and increase returns on investment. They include: encouraging listed companies to improve stability, timeliness and predictability of dividend payouts, stricter delisting rules, and expanding inspections of listed companies. "China's market is the second largest in the world, but it's not as strong," Wu said, adding the recent market volatility exposed deep-seated issues. At the same press conference, Pan Gongsheng, governor of the People's Bank of China, also pledged support for overseas listings for high-quality Chinese companies.

Persons: Wu Qing, WANG Zhao, WANG ZHAO, Wu, it's, Pan Gongsheng Organizations: China Securities Regulatory Commission, National People's Congress, Getty Images, People's Bank of Locations: China, Beijing, AFP, BEIJING, People's Bank of China

☆ Middle managers are feeling the squeeze and losing confidence in their employers amid layoffs, cost-cutting, and RTO mandates, Glassdoor finds
▼ + stars: | 2024-03-05 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +1 min

Middle managers are less confident about their companies' business outlook than other employees. They're under pressure to execute layoffs, RTO mandates, and stringent performance reviews. "Middle managers are under pressure to do more with less," Glassdoor's lead economist Daniel Zhao said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: Daniel Zhao, —, Glassdoor Organizations: Service, Business

☆ China might have a friendlier face now, but it's not giving up on its aggressive Wolf Warrior diplomacy, experts say
▼ + stars: | 2024-03-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +9 min

The move has also fueled speculation about the end of Wolf Warrior diplomacy. BRENDAN SMIALOWSKI/AFP via Getty ImagesChina is also aware that the shock value of Wolf Warrior diplomacy brings diminishing returns. "I think the limits of wolf warrior diplomacy are apparent," Loh said. The Wolf Warrior will be backThat said, Wolf Warrior diplomacy will return, depending on the issue at hand, said Loh. LEAH MILLIS/Getty ImagesSo why did Liu tell reporters and academics in New York that Wolf Warrior diplomacy would never return?

Persons: —, Liu Jianchao, Liu, China's, Antony Blinken, ROBERTO SCHMIDT, Ian Ja Chong, Chong, Zhao Lijian, Zhao, Rather, Stanley Rosen, Rosen, you'll, Zhao dismissively, Nancy Pelosi's, Anthony Kwan, Pan Chengxin, Donald Trump's, Pan, Dylan Loh, Xi Jinping, Biden, Xi, BRENDAN SMIALOWSKI, Loh, Qin Gang, LEAH MILLIS Organizations: Service, Communist Party's International Department, of Foreign, Business, US, AFP, Getty, National University of Singapore, Foreign Ministry, University of Southern, China Institute, U.S . House, Deakin University, Nanyang Technological University of Singapore, Getty Images, Chinese Foreign Locations: New York, China, West . China, Beijing, University of Southern California's US, Maryland, Ukraine, Weibo, Taiwan, Hong Kong, Africa, Southeast Asia, Australia, Gaza, AFP, Getty Images China, West

☆ The US housing market added $2 trillion in value last year, boosted by a nationwide shortage of homes for sale
▼ + stars: | 2024-02-28 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

The US residential market added $2.4 trillion in value last year, listings site Redfin said. AdvertisementThe housing market in the US added $2.4 trillion last year, jumping to $47.5 trillion. Though housing demand has been dampened by stubbornly high mortgage rates, the total value of the market climbed by 5.3% from December 2022, preliminary data released by Redfin on Wednesday showed. Pandemic-era mortgage rates fell below 3%, driving a frenzy of buying in 2020 and 2021. The combination of elevated mortgage rates, high home prices and a limited pool of homes for sale means homeownership is about as unaffordable as ever.

Persons: Redfin, —, aren't, Chen Zhao Organizations: Service Locations: Redfin, New York City, New Jersey, Midwest, Milwaukee, Grand Rapids, New York, Honolulu , Riverside, Denver

☆ Honor to launch its first foldable flip phone to challenge Samsung
▼ + stars: | 2024-02-28 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The move to launch a flip foldable is in line with Honor's push into the premium end of the market where it's looking to challenge companies like Samsung and Apple . There are two styles right now on the market — smartphones that fold like a book and those that fold vertically like an old school flip phone but without a visible hinge. BARCELONA — Honor will launch a foldable flip phone this year, the company's CEO told CNBC, marking the Chinese technology firm's first foray into the vertical-folding style of smartphone that has been popularized by brands like Samsung and Motorola. The entry into flip foldables will expose Honor to a different price point. The flip style of phones, such as Samsung's Galaxy Z Flip 5 are often priced cheaper than the horizontal-style folding devices.

Persons: George Zhao, Neil Shah, Zhao Organizations: Samsung, Apple, CNBC, Motorola, Mobile, Research, Counterpoint Research, Huawei Locations: BARCELONA, Barcelona, U.S, China

☆ CNBC Daily Open: Americans sour on the economy
▼ + stars: | 2024-02-28 | by ( Sumathi Bala | ) 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. Mixed bag on Wall StreetU.S. stocks ended mixed Tuesday as investors prepared for key inflation data due out later this week. South Korea's Japan-style measures to boost corporate governance may not work to lift its undervalued stock markets and tackle the so-called "Korea discount." Honor's foray into flip phonesChinese technology firm Honor will launch a foldable flip phone this year, the company's CEO George Zhao told CNBC.

Persons: Joe Biden, Dow, Bitcoin, Tesla, George Zhao, Andrew Organizations: CS Wind America Inc, CNBC, Wall Street, Nasdaq, Apple, Bloomberg, Will, Korea's, Financial Services Commission, Samsung Locations: Pueblo , Colorado, Korea's Japan, Korea

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