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☆ China’s youth unemployment hits fresh high amid economic slowdown and restrictive hiring policies
▼ + stars: | 2024-09-23 | by ( Lee Ying Shan | Lee Ying Shan Is A News Associate With Cnbc International Based In Singapore. | ) www.nbcnews.com time to read: +1 min

China’s youth unemployment rate in August rose to the highest level since the new system of record-keeping began in December, driven by an economic slowdown and restrictive hiring policies, according to analysts. China’s urban unemployment rate across all age categories rose 5.3% in August, compared to a 5.2% rise in July. China’s youth unemployment has also been affected by restrictive hiring policies amid a struggling economy as companies are refusing to hire recent college graduates due to the difficulty and costs involved in firing workers in China. This is expensive so no one wants to fire anyone now or hire anyone new,” he noted. “That’s why the [overall] unemployment rate isn’t that bad but the unemployment rate for youths is so high,” Rein added.

Persons: That’s, “ It’s, ”, Dan Wang, Shaun Rein, “, ” Rein Organizations: National Bureau, Statistics, HSBC, China Market Research, “ Locations: China

☆ China's youth unemployment hits fresh high amid economic slowdown and restrictive hiring policies
▼ + stars: | 2024-09-23 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

China's youth unemployment rate in August rose to the highest level since the new system of record-keeping began in December, data from the National Bureau of Statistics showed, amid an economic slowdown. China's urban unemployment rate across all age categories rose 5.3% in August, compared to a 5.2% climb in July. China paused reporting the youth unemployment rate for much of the latter half of last year while it reassessed its calculation methods. China's youth unemployment has also been affected by restrictive hiring policies amid a struggling economy as companies are refusing to hire recent college graduates due to the difficulty and costs involved in firing workers in China. "That's why the [overall] unemployment rate isn't that bad but the unemployment rate for youths is so high," Rein added.

Persons: That's, Dan Wang, Shaun Rein, Rein Organizations: National Bureau, Statistics, HSBC, China Market Research, People's Bank of Locations: China, People's Bank of China

BEIJING — Many of Apple’s affluent iPhone users in China are just as interested in Huawei’s pricier trifold phone, CNBC found during spot checks at stores Friday, the day the iPhone 16 and Mate XT launched in the country. The iPhone 16 Pro Max starts at $1,199, and the iPhone 16 at $799. Huawei’s trifold Mate XT starts at the equivalent of more than $2,800. The Apple iPhone 16 Pro Max was selling for 10,500 yuan to 16,300 yuan, the site showed. He said he bought the iPhone 16 because he heard its battery lasted longer, but was willing to wait for the iPhone 17 for any artificial intelligence features.

Persons: pricier, Max, Huawei’s, Yang, Wang, hadn’t Organizations: CNBC, XT, Huawei, Apple, People, Mate Locations: BEIJING, China, . U.S, Beijing, Hefei, Shanghai

TOKYO — A 10-year-old student at a Japanese school in China died Thursday after being stabbed on the way to school the day before, Japanese officials said, as they demanded that Beijing do more to protect Japanese nationals in the country. Lin said the boy was a Japanese national whose parents are Japanese and Chinese citizens. “Effective measures will continue to be taken to ensure the safety of foreigners in China, including people from Japan,” he said. According to the Chinese Foreign Ministry, the student was stabbed on Wednesday about 220 yards away from the Shenzhen Japanese School in the southern Chinese city of Shenzhen. Flags at Japanese diplomatic missions in mainland China and Hong Kong were lowered on Thursday.

Persons: Fumio Kishida, Kishida, ”, “, Philip Fong, Lin Jian, Lin, Yoko Kamikawa, Kamikawa, ” Arata Yamamoto, Rae Wang Organizations: Washington, Foreign Ministry, Chinese Foreign Ministry, Shenzhen Japanese School, Foreign Affairs, Embassy, Weibo Locations: TOKYO, China, Beijing, Japan, U.S, Japanese, Shenzhen, Mukden, Shenyang, Manchuria, Suzhou, Tokyo, Guangzhou, Hong Kong, Asia, Pacific, Chinese, Jilin

☆ Amazon's RTO policy is the right decision, according to a Gen Z founder who said most of his employees come in 5 days a week
▼ + stars: | 2024-09-19 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

He founded an AI startup in 2023 and told BI the majority of his 14 employees come in five days a week. "Remote work benefits people who are more stable in their career at the expense of people who are junior," he said. BI has reported on multiple Gen Z employees who feel isolated and restricted by their remote working environment. Advertisement"If you're a new grad and you're starting a job and you just work a remote job, you're just shooting yourself in the foot," he said. He told BI, "Four or five years ago, this was the norm," adding, "Why are we even thinking remote work is normal?"

Persons: —, Jeffrey Wang, Wang, Everyone's Organizations: Service, Plaid, Harvard, Business, Tech, Networking, BI Locations: San Francisco, Hawaii

☆ Ray Dalio calls upcoming U.S. election the most consequential of his lifetime
▼ + stars: | 2024-09-19 | by ( Christine Wang | In Christinejwang | ) www.cnbc.com time to read: +1 min

Ray Dalio said the 2024 U.S. elections will likely be the most important of his lifetime and he thinks the country needs a "strong leader of the middle." "As far as the election goes, it's going to be the most consequential election of my lifetime because we now have irreconcilable differences between the two sides," he said. "The first question we'll ask is: will we have an orderly transition of power? We have the question- the fact that it is possible — that election results may not be accepted — that's quite something." On Wednesday, Dalio had named the elections as a major force shaping the global economy, calling it an "issue of internal order and disorder."

Persons: Ray Dalio, Dalio Organizations: Bridgewater Associates, CNBC Locations: U.S

☆ London Fashion Week has plenty to celebrate on its 40th anniversary
▼ + stars: | 2024-09-18 | by ( Fiona Sinclair Scott | Leah Dolan | ) edition.cnn.com time to read: +15 min

London CNN —Against the backdrop of a challenging economic outlook for many brands — big and small — the 40th anniversary of London Fashion Week last week was certainly a time for reflection. Even Carly Marks, founder of avant-garde New York label Puppets and Puppets, chose London this season. But all eyes were on Burberry, undoubtedly the biggest brand on the London Fashion Week schedule, yet one that has been battling against sharply declining profits. To see the best bits of London Fashion Week, keep scrolling. Talia ByreErdem Jason Lloyd EvansSophistication, elegance and femininity were key themes at TOVE's third show at London Fashion Week.

Persons: Jonathan Anderson, JW Anderson, ”, Anderson, Victoria Beckham, Christopher Kane, Halpern, Molly Goddard, Rejina Pyo, hasn’t, David Koma, Daley, Queen Elizabeth II, Daley didn’t, Harry Styles, Anna Wintour, Emma Corrin, Nensi Dojaka, Carly Marks, Daniel Lee’s, It’s, Talia Byre, Sinead O’Dwyer, Ancuta Sarca, Paolo Carzana, Simone Rocha, Aaron Esh, Richard Quinn, Adonis, Di, Simone Rocha mused, Olsen, Chopova, JW Anderson Girliness, Simone Biles, Jordan Biles, Rebecca Andrade, Kamala Harris ’, America’s, “, Erdem, Marguerite Antonia Radclyffe Hall, John, Chopova Lowena, ruffles, Victor Virgile, Yuhan Wang, Olu Ogunshakin, Chris Yates, Talia Byre’s, Alaia Ali, Jane Couch, Bridget Riley, Wang, “ I’m, John Phillips, Alexander McQueen, Vivienne Westwood, John Galliano, Stella McCartney, —, Chet Lo, Dojaka, Calvin Klein, Hubert de Givenchy, Barry Keoghan, Dave Benett, Burberry Olivia Colman, Burberry, Burberry Burberry, James Manning, Isidore Montag, Daniel Lee's, Steven Stokey, womenswear, Francisco Gomez de Villaboa, Cris Fragkou SS Daley, Cris Fragkou HARRI, Eamonn M . McCormack, HARRI didn't, Joe Maher, James Mason, James Mason Quinn's, James Mason Erdem, suiting, Jason Lloyd Evans Moralıoğlu’s, Jason Lloyd Evans, Jason Lloyd Evans Chopova Lowena, Lowena, Hellman's, Marco Capaldo, 16Arlington, Arlington Dianna Agron, Lily Bloom, Dave Bennett, CompletedWorks, Ben Broomfield, Ben Broomfield Natasha Zinko's, Zinko, Stefan Knauer, Aldama, Ik Aldama, Henry Nicholls, Bella Hadid, Rihanna, Crocs, Francesco Zinno Talia Byre, Talia Byre Byre, Jeff Spicer Organizations: London CNN —, London, New York, Burberry, National Theatre, Royal Academy, Emirates, JW, Olympics, Erdem, Chris Yates Media, Arsenal, Pan, CNN, Getty, JW Anderson Lingerie, Clarks, London Fashion Locations: London, British, S.S, Italian, Di Petsa, Arlington, America, Dorchester, The Dorchester, Bloomsbury, AFP

☆ 'Time is running out' for China to hit its growth targets, economist says
▼ + stars: | 2024-09-16 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

With no strong growth stimulus, it's unlikely China reaches its 5% GDP target, economist Yingrui Wang says. Wang warns that China could slip into a "yawning demand-deficient deflation trap" going into 2025. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWith new weak economic data and no clear sign of a stronger growth stimulus, China most likely won't reach its growth targets by year-end, AXA Investment Managers economist Yingrui Wang says. "Time is running out for China this year to achieve its growth targets, but also to avoid a more protracted slowdown," Wang wrote in a Monday note.

Persons: Yingrui Wang, Wang, — Organizations: Service, AXA Investment, Business Locations: China

☆ Anna Sawai and ‘Shōgun’ cast led the Emmys — and its red carpet
▼ + stars: | 2024-09-16 | by ( Oscar Holland | ) edition.cnn.com time to read: +3 min

And on the red carpet outside LA’s Peacock Theater, the show’s cast and crew (and their significant others) produced some of the evening’s most eye-catching fashion, too. But it was his actress wife Kurumi Nakata who wowed the red carpet in a kimono featuring gold detailing worthy of a historical Japanese painting. Moeka Hoshi wore a chiffon Miu Miu gown. Amy Sussman/Getty ImagesBeyond the main cast, actor Moeka Hoshi, who has a recurring role in the series, impressed in a look by Miu Miu, the sister label to luxury giant Prada. "Shōgun" creators Justin Marks and Rachel Kondo pose on the red carpet.

Persons: CNN —, ”, Anna Sawai, Vera Wang, Cartier, Sawai, Lady Mariko, Karla Welch, “, ” Welch, Vogue, ” Hiroyuki Sanada, Gilbert Flores, Tadanobu Asano, Kurumi Nakata, Danny Moloshok, Hiroyuki Sanada, Yoshii Toranaga, Moeka Hoshi, Miu Miu, Amy Sussman, Yuko Miyamoto, Yuka Kouri, Yuka Kouri's, Jae C, Yuko, Kevin Mazur, Rachel Kondo, Justin Marks —, James Clavell’s, Christopher John Rogers, Justin Marks, Frazer Harrison, Shōgun ” Organizations: CNN, Dior, Variety, Golden Globe

☆ A Fed rate cut may lend a helping hand to Chinese stocks. Or not.
▼ + stars: | 2024-09-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

By extension, the move in Washington, D.C. could also spell good news for Chinese stocks. High U.S. interest rates relative to China have made it fairly straightforward for global institutions to pick U.S. Treasurys over Chinese stocks. More than lower rates needed Other global investors say Chinese stocks need more than easier monetary policy to become truly attractive. The "government can push interest rates down, but if households don't want to spend the extra income, it won't go into the economy," he said. Earlier this year, People's Bank of China Governor Pan Gongsheng acknowledged U.S. Fed easing would create room for China to further cut interest rates.

Persons: Steven Sun, Laura Wang, Morgan Stanley, Aaron Costello, Yi Gang, Costello, James Wang, Wang, Pan Gongsheng Organizations: U.S . Federal Reserve, HSBC, HSBC Qianhai Securities, Nasdaq, U.S, Treasury, Cambridge Associates, CNBC, People's Bank of China, UBS Investment Bank Research, UBS, Hang Seng China Enterprises, China Southern Airlines, Hengli Petrochemical, Saudi, Aramco Locations: China's, Washington ,, China, 1H24, Asia, U.S, Beijing, Hang, Shenzhen, Shanghai

HONG KONG — China said Friday it would raise its retirement age for the first time in decades, as the world’s second-largest economy struggles with falling birth rates and an aging workforce. The country’s top legislative body approved a draft proposal to gradually implement the changes, state media reported Friday. China's retirement ages are among the lowest in the world and had remained unchanged since they were set in the 1950s. For those born in 1965, retirement would be delayed by one month, according to a chart published by Xinhua, China’s state-run news agency. The changes have been the subject of heated discussion among the Chinese public since they were proposed earlier this year.

Persons: China's, Young Organizations: National People’s, Xinhua Locations: HONG KONG — China, China’s, Weibo

☆ China's plan to boost consumption by encouraging trade-ins has yet to show results
▼ + stars: | 2024-09-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

A banner plays up China's trade-in policy at a home goods expo in Qingdao, Shandong province, China, on June 1, 2024. Nurphoto | Nurphoto | Getty ImagesBEIJING — China's plan to boost consumption by encouraging trade-ins has yet to show significant results, several businesses told CNBC. Analysts are not overly optimistic about the extent to which the trade-in program could support retail sales. China's retail sales for August are due Saturday morning. Retail sales in June rose by 2%, the slowest since the Covid-19 pandemic, while July sales growth saw a modest improvement at 2.7%.

Persons: Jens Eskelund, Tao Wang, Sally Loh, Otis, Kone, We've, Ilkka Hara, Hara Organizations: Nurphoto, Getty, BEIJING, CNBC, EU Chamber of Commerce, UBS Investment Bank, China, U.S, Otis Locations: Qingdao, Shandong province, China, Greater China

☆ Biden finalizes increases to China tariffs
▼ + stars: | 2024-09-13 | by ( Katie Lobosco | ) edition.cnn.com time to read: +2 min

Washington CNN —The Biden administration said Friday that it has finalized tariff hikes on certain Chinese-made products that the president first announced in May. The administration’s increases come as Vice President Kamala Harris and former President Donald Trump have clashed over tariffs on the campaign trail. Trump implemented sweeping tariffs on about $300 billion of Chinese-made products when he was in office. “Today’s finalized tariff increases will target the harmful policies and practices of the People’s Republic of China that continue to impact American workers and businesses,” US Trade Representative Katherine Tai said in a press release. China is expected to retaliate by increasing tariffs on US-made goods.

Persons: Washington CNN —, Biden, Kamala Harris, Donald Trump, Harris, Trump, Joe Biden, Today’s, Katherine Tai, Wang Wenbin, ”, He’s, Kayla Tausche Organizations: Washington CNN, US Trade Representative’s, US, Trade Organization Locations: People’s Republic of China, China

☆ Four ISIS leaders were killed in western Iraq raid last month, US military says
▼ + stars: | 2024-09-13 | by ( Kaanita Iyer | ) edition.cnn.com time to read: +2 min

CNN —Four ISIS leaders were killed as a result of raid in western Iraq late last month, the US military said Friday. US Central Command identified the four leaders as Ahmad Hamid Husayn Abd-al-Jalil al-Ithawi, who was responsible for all ISIS operations in Iraq; Abu Hammam, who oversaw all operations in the western part of the country; Abu-‘Ali al-Tunisi, who oversaw technical development, and Shakir Abud Ahmad al-Issawi, who was responsible for military operations in western Iraq. The US, in partnership with Iraqi security forces, conducted a raid in western Iraq on August 29, killing more than a dozen ISIS operatives who were “armed with numerous weapons, grenades, and explosive ‘suicide’ belts,” CENTCOM previously said. Amid the heightened tensions in the Middle East, Iraq has postponed announcing an end-date for the US-led military coalition’s presence in the country, CNN previously reported. CNN’s Philip Wang, Haley Britzky, Mary Kay Mallonee, Hamdi Alkhshali, Sam Fossum and Mohammed Tawfeeq contributed to this report.

Persons: Ahmad Hamid Husayn Abd, Jalil, Abu Hammam, ‘ Ali, Shakir Abud Ahmad, “ CENTCOM, ”, Michael Erik Kurilla, ” CENTCOM, CENTCOM, Lloyd Austin, Philip Wang, Haley Britzky, Mary Kay Mallonee, Hamdi Alkhshali, Sam Fossum, Mohammed Tawfeeq Organizations: CNN, ISIS, Central Command, US Department of Defense, US Locations: Iraq, United States, East, Israel, Tehran, Iran

☆ Caroline Ellison seeks to duck prison sentence for role in FTX collapse
▼ + stars: | 2024-09-11 | by ( Mackenzie Sigalos | Mackenzie Sigalos Is A Technology Reporter For Cnbc With A Focus On Cryptocurrency | ) www.nbcnews.com time to read: +4 min

Lawyers for Caroline Ellison, the star witness in the prosecution of FTX founder Sam Bankman-Fried, are recommending no prison time for their client’s role in the implosion of the crypto empire that was run by her former boss and ex-boyfriend. Judge Lewis Kaplan, who presided over Bankman-Fried’s case, cited Ellison’s testimony when he decided in March to sentence the FTX founder to 25 years behind bars. Ellison, who ran Alameda Research, agreed to a plea deal in December 2022, a month after FTX spiraled into bankruptcy. Bankman-Fried forced Ellison into a sort-of isolation, culminating in her moral compass being “warped,” the lawyers say. Her former roommates and ex-FTX executives, Nishad Singh and Gary Wang, will be sentenced in October and November, respectively.

Persons: Caroline Ellison, Sam Bankman, Ellison, Judge Lewis Kaplan, FTX spiraled, “ Caroline, John Ray, “, Fried, disentangling, ”, ” She’s, that’s, ” Ellison, Nishad Singh, Gary Wang, — CNBC’s Dan Mangan Organizations: U.S, Alameda Research, court’s, Department, ”, Bankman Locations: FTX’s Bahamas, Alameda, Boston, Hong Kong, Bahamas, Bankman

☆ Harris-Trump debate highlights and Hurricane Francine approaches Louisiana: Morning Rundown
▼ + stars: | 2024-09-11 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +7 min

And while Trump tried to tie Harris to President Joe Biden, he learned that she is a much tougher rival. While Trump tried to re-create the conditions of June’s fateful debate stage matchup, Harris reminded him, “You’re not running against Joe Biden. Harris tried to get under Trump’s skin, baiting him into a defensive posture that prevented him from attacking her weaknesses. And when Trump scolded Harris’ attempt to interrupt him, some allies lamented that he lost control at a key moment. Three Republican sources told NBC News after the debate that Trump came off as “angry” in that moment.

Persons: Kamala Harris, Donald Trump’s, Francine churns, Harris, Donald Trump, Trump, Joe Biden, “ You’re, You’re, ” Harris, Harris ’, ” Trump, Louisiana Hurricane Francine, Joe Wilson of, ”, Republican Kelly Ayotte, Joyce Craig, Mauricio Pochettino, Dave Grohl, Hill, Jesse Dittmar, James Earl Jones ’, Darth Vader, Jones, Char Adams, — Joy Y, Wang, Dermatologists, Elizabeth Robinson Organizations: Trump, Republican, NBC News, Federal, Labor Statistics, Louisiana Hurricane, Public, Novo Nordisk, Foo Fighters, Police, Miami Dolphins, NBC Locations: Louisiana, Ohio, New Orleans, Mississippi, Novo, semaglutide, Wegovy, Joe Wilson of South Carolina, Washington, ” New Hampshire, Ukraine, Russia

☆ Check out these 11 U.S.-listed foreign stocks — which analysts give over 100% upside
▼ + stars: | 2024-09-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

The table below lists 11 stocks that analysts give over 100% upside potential in their local currency over the next 12 months. Investors should note that these stocks are exposed to foreign exchange fluctuations. Although the company has a primary listing on the Toronto stock exchange, the stock is also traded on U.S. stock exchanges . Valneva France-based Valneva has the second-biggest consensus upside potential on the list, at 213%. Stifel's price target of 9 euros ($9.94) a share indicates a 201% upside potential.

Persons: Desjardins, Frederic Tremblay, Canaccord, Katie Lachapelle, Meaghan, Valneva, Lyme, Christian Glennie, Evan Wang Organizations: CNBC Pro, Battery Metals, Valneva, Pfizer, Analysts, Guggenheim Securities Locations: U.S, Toronto, James Bay, Valneva France, Paris

☆ Oracle is emerging as a fourth cloud player, says T. Rowe Price's Tony Wang
▼ + stars: | 2024-09-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOracle is emerging as a fourth cloud player, says T. Rowe Price's Tony WangTony Wang, T. Rowe Price portfolio manager, joins 'Closing Bell Overtime' to talk the hardware trade versus the software trade.

Persons: Rowe, Tony Wang Tony Wang, Rowe Price Organizations: Oracle

☆ American fast-food giants are going big on a China wager, betting they can get the country's new middle class to love them back
▼ + stars: | 2024-09-10 | by ( Matthew Loh | ) www.businessinsider.com time to read: +11 min

An expansion rate surpassing America'sKFC, run by Shanghai-headquartered Yum China, has historically enjoyed the lion's share of the country's fast-food cravings. Hopes for a new middle class in ChinaCities in China are unofficially grouped into tiers according to their status, size, and wealth. Chinese KFC has nearly doubled its menu itemsExpanding during a sluggish economy might make sense for fast food brands, which are often classified as recession-proof as consumers downgrade their spending. Advertisement"Now, they are doubling down further on this strategy by expanding into the inland regions of China, especially Tier Three and Tier Four cities with a growing middle class," they told BI. Yum China has also been expanding aggressively in the country's burgeoning coffee scene, establishing a popular spin-off called KCoffee.

Persons: —, It's, McDonald's, Shaun Rein, Rein, Allison Malmsten, Malmsten, Cui Nan, Wang Gang, Jonathan Bernstein, Bernstein, Kung Fu, Daxue, it's, They've Organizations: Service, Thursday, Business, McDonald's, Tier, China Market Research Group, KFC, LONG, Future Publishing, Getty Images, China, US, Yum China, Daxue Consulting, Publishing, China News Service, Getty, Analysts, Yonder Consulting Locations: China, Kentucky, Weibo, Hangzhou, China's, Shanghai, China Cities, Beijing, Guangzhou, Shenzhen, Chengdu, Chongqing, Nanyang, Suqian, Jiangsu, London, Asia, Shanghai thronged

☆ Rapper Ye is set to perform a controversial show in China this week — and many are wondering why
▼ + stars: | 2024-09-10 | by ( Serenitie Wang | ) www.cnbc.com time to read: +4 min

"This is Hainan trying hard to forge its branding as an international destination," said Michael Zhou, founder of Jingjian, a consultancy specializing in China tourism. The tropical island of Hainan, dubbed the "Hawaii of China," has long been a top travel destination for domestic tourists. According to Zhou, the bulk of Hainan's tourism income comes from hotel stays and duty-free shopping. "As it is the largest duty-free channel in China, Hainan's duty-free sales decline is inevitable," said Charlie Chen, head of Asian Research at China Renaissance, a financial institution. Ye and the China connectionCDF Haikou International Duty Free City is one of many duty-free malls on the Chinese island of Hainan.

Persons: Du, Ye, Michael Zhou, Zhou, netizens, Ye's, Charlie Chen, Hainan's, Luo Yunfei Organizations: straitlaced Communist Party, Communist, Hainan's Provincial, of Statistics, Haikou, Asian Research, Duty, China News Service, Getty Locations: Hainan, Shanghai, China, Weibo, Beijing, Ye, Hawaii

☆ China's CPI climbs by a less-than-expected 0.6% as transport and home goods prices fall
▼ + stars: | 2024-09-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China on Monday reported its consumer price index rose by 0.6% year on year in August, missing expectations as transportation and home goods prices, as well as rents declined. Food prices climbed by 2.8% year on year in August, the first positive print since June 2023, according to Wind Information data. Pork prices surged by 16.1% in August, while vegetable prices climbed by 21.8%. Pork, a food staple in China, has an outsized weighting in the country's consumer price index. Core-CPI, which strips out food and energy prices, climbed by 0.3% in August from a year ago, a slower rise for a second-straight month.

Persons: Wang Yifan Organizations: Nanhua Locations: China, BEIJING — China

☆ Pharrell’s Joopiter puts on sale of G-Dragon’s prized possessions
▼ + stars: | 2024-09-08 | by ( Mike Valerio | Stephy Chung | ) edition.cnn.com time to read: +3 min

The sale features dozens of items owned by G-Dragon – an avid collector of art, design and fashion – including works he created and customized himself. Williams’ auction house, Joopiter, is hosting the online sale and an accompanying exhibition, at the Daelim Museum. JoopiterJoopiter has collaborated with a slew of celebrities since Williams founded his “digital-first” auction house in 2022. “The wrong attitude is going in and trying to become a collector.”Nike x Peaceminusone Para-noise Air Force 1 sneakers encrusted with crystals featured in the G-Dragon auction. That is how you build a really beautiful, special collection.”She pointed to Joopiter’s inaugural auction — a sale of almost 50 items from Williams’ personal stash, that raked in over $5 million.

Persons: Louis Vuitton, Pharrell Williams, Williams, Frida Kahlo, Salvador Dalí, Pharrell, —, ” Williams, ”, Kwon Ji, Chanel’s, Joopiter Joopiter, it’s, “, Jackson, Caitlin Donovan, Joopiter, Donovan Organizations: South Korea CNN, Daelim, CNN, Nike, Force Locations: Seoul, South Korea, Yeezys, “

☆ Apple is losing ground in China. Here's how the iPhone 16 can help.
▼ + stars: | 2024-09-07 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Wang Gang/Getty ImagesIt's worth noting that in its 15-year history with the iPhone in China, Apple has been the dominant force in the smartphone market. Other local smartphone manufacturers, including Honor, Xiaomi, and Vivo, have also seen gains over the past year. The upcoming iPhone 16 will introduce users to Apple Intelligence, its new suite of generative AI features, first introduced at its June Worldwide Developers Conference. Apple is betting on Apple Intelligence to boost iPhone sales. The company is seeking a local partner to bring more advanced chatbot features to Apple Intelligence in China.

Persons: —, Tim Cook, It's, Wang Gang, Apple, Xiaomi, Cook, ChatGPT, Wedbush, Paolo Pescatore Organizations: Service, Apple, Weibo, Business, China Apple, Huawei, Pura, Apple Intelligence Apple, Apple Intelligence, Foresight Locations: China, Shanghai, He'll, Cupertino

☆ The US Open is having a moment
▼ + stars: | 2024-09-07 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +7 min

With nearly one million people attending the tournament in 2023, the US Open has long been popular. AdvertisementThe US Open is New York's event of the seasonThe US Open has been a celebrity hot spot for years. Chris Ivery, Tony Goldwyn, Bellamy Young, and Shonda Rhimes attend the US Open in August 2024. "The culmination of having beloved brands like Aperol at an iconic event like the US Open makes the experience a 'can't miss' event for the summer season, and it only gets more exciting every year we are there," Sengara added. Tennis is having a momentThough the US Open feels like a new level of cool for tennis, the sport has been gaining cultural capital for some time now.

Persons: —, influencers, Tony Goldwyn —, Ellen Pompeo, Shonda Rhimes, Chris Ivery, Tony Goldwyn, Bellamy Young, Vera Wang, Anna Wintour, Serena Williams, Alicia Keys, Calum Beedling, Beedling, Williams, Nick Mautone, Mautone, Chandon, Phoebe Dynevor, Cameron Fuller, David Kenas, Carmelo Anthony, Jessica Biel, Enzo Gouedar, Gouedar, Questlove, Sophie Fritz, Aperol, Andrea Sengara, Campari, Sengara, Ariana Grande, Dalton Gomez, There's, Naomi Osaka, Yoon Ahn, TIMOTHY A, CLARY Organizations: Service, Gotham, Brands, US, Tiffany, Wimbledon, Nike, New York Times Locations: New York, Queens , New York, Chambord, Moët's

☆ Viral videos of people stealing money from Chase ATMs were just plain check fraud
▼ + stars: | 2024-09-03 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —A number of viral TikTok videos had some people believing they could get “free” cash from Chase ATMs. The problem is that this is just a form of check fraud, a criminal offense. In the case of the viral videos, participants wrote checks for obscene amounts of money and then withdrew as much as they could before the check could bounce. “Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple,” a Chase spokesperson said. Do not spend it, do not move it, just leave it alone and tell the bank,” Wang said.

Persons: Chase, Jim Wang, “, ” Wang, – CNN’s Matt Egan Organizations: New, New York CNN, Chase, CNN, JPMorgan, Wall Street, Federal, Currency, “ Locations: New York

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