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☆ Dexcom shares fall on slow revenue growth
▼ + stars: | 2024-10-24 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Shares of Dexcom fell 9% in extended trading on Thursday after the company released third-quarter results that beat analysts' expectations but showed a decline in U.S. revenue year over year. Here's how the company did:Earnings per share: 45 cents adjusted vs. 43 cents expected by LSEG45 cents adjusted vs. 43 cents expected by LSEG Revenue: $994 million vs. $990 million expected by LSEGThe company's revenue increased 2% to $994.2 million from $975 million a year earlier. The company maintained its full fiscal year guidance and expects revenue of $4 billion to $4.05 billion. Last quarter, Dexcom lowered its guidance from the $4.20 billion to $4.35 billion it forecast in the first quarter. This lowered guidance and a revenue miss caused Dexcom shares to tumble more than 40% following the release of its second-quarter results in July.

Persons: Dexcom, Kevin Sayer, Sayer, Teri Lawver, Lawver Organizations: LSEG Revenue, Dexcom

☆ CNBC Sport: Adam Silver speaks exclusively, and TKO makes a big bet
▼ + stars: | 2024-10-24 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +21 min

The latter two are new partners (new-ish, at least – NBC is back after losing NBA rights in 2002 ). Warner Bros. Warner Bros. On the record With NBA Commissioner Adam Silver... Silver spoke to me about a lot of issues. Warner Bros.

Persons: Alex Sherman, Adam Silver, Mark Shapiro, we're, Silver, Max, David Zaslav, Luis Silberwasser, Zaslav, Silberwasser, Charles Barkley, Kenny Smith, Shaquille O'Neal, Ernie Johnson, divisiveness, we've, We're, David Stern, Chris Paul, CNBC's Jessica Golden, Gabrielle Fonrouge, Luis Suárez, Lionel Messi, CNBC's Lillian Rizzo, You've, Hurricane Milton, CNBC's Contessa Brewer, Jessica Golden, SeatGeek, Joe Biden Biden, Caitlin Clark, Goldin, LeBron James, Bronny James, Greg Rosenstein, Ari Emanuel, Brendan Mcdermid, Comcast's Organizations: CNBC, WWE, UFC, Endeavor Group, Endeavor, Professional Bull Riders, IMG, Ryder, FIFA, NFL, English Premier League, National Hockey League, Major League Soccer, PBR, NBA, Warner Bros, Disney, Comcast, NBC, Discovery, Big Tech, TNT Sports, Amazon, TNT, Turner Sports, Discovery Communications, Warner Brothers Discovery, Inside, Sony, Los Angeles Lakers, CNBC Sport, Nike, WNBA, MLS, New York Yankees, Los Angeles Dodgers, Twitter, New York Liberty, Indiana, Basketball Players, CBA, Hockey League, NHL, Lululemon, New York Stock Exchange, Reuters Locations: U.S, Hurricane, Tampa , Florida, underwhelmed, New York City

Sales fell in three out of four U.S. regions, with just the West region seeing a gain. Inventory rose 1.5% month to month to 1.39 million homes for sale at the end of September. That represents a 4.3-month supply at the current sales pace. Distressed property sales accounted for only 2% of all transactions in September.”The pressure of still low inventory continues to push prices higher. First-time buyers pulled back again, making up just 26% of September sales.

Persons: ”, Lawrence Yun, ” Yun, Cash, Yun Organizations: National Association of Realtors, Homes Locations: U.S

☆ Shohei Ohtani's 50/50 ball sells at auction for $4.3 million, setting record of its own
▼ + stars: | 2024-10-23 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Patrick-Smith-Circle-Byline-Template.Jpg | Patrick Smith | ) www.nbcnews.com time to read: +1 min

The ball Shohei Ohtani launched for his 50th home run of the season, having also stolen 50 bases, was bought at auction early Wednesday for more than $4.3 million. Ohtani, the Los Angeles Dodgers phenom, became the first player to reach the 50/50 milestone in a season in September, widely considered one of the greatest achievements in baseball history. New Jersey auction house Goldin said it was the highest price paid for a baseball — or any other ball — in history. It was one of three home runs he hit that night alone — his 51st season home run ball is also up for sale. Afterward, attention naturally turned to the fate of the ball, with collectors keen to own such a unique item.

Persons: Ohtani, Goldin, “ Shohei Ohtani, ”, Ken Goldin, Mike Baumann Organizations: Los Angeles Dodgers phenom, Florida Marlins, Marlins Locations: . New Jersey, Japan

☆ Fact check: Kamala Harris town hall on CNN
▼ + stars: | 2024-10-23 | by ( Cnn Staff | ) edition.cnn.com time to read: +7 min

CNN —Vice President Kamala Harris joined CNN’s Anderson Cooper for a town hall in the critical swing state of Pennsylvania on Wednesday night, where she faced questions directly from persuadable and undecided voters less than two weeks before Americans head to the polls on Election Day. Former President Donald Trump was invited but declined to participate in a CNN town hall. Separate studies estimate that the impact of Trump’s proposed tariffs would also raise prices for families, but by a lower amount. From CNN’s Piper Hudspeth BlackburnHarris’ claim on Trump’s tax cutsVice President Kamala Harris slammed her opponent former President Donald Trump for putting in place policies that benefitted the wealthy during his first term. “Donald Trump, when he was president, gave tax cuts to the richest, to billionaires and big corporations,” she said at CNN’s town hall.

Persons: Kamala Harris, CNN’s Anderson Cooper, Donald Trump, Harris, Trump, He’s, Katie Lobosco Harris, “, Anderson, Mike Pence, Rather, Joe Biden, “ Joe Biden, Daniel Dale, Ella Nilsen Harris, Donald Trump’s, ”, Harris ’, Tim Walz, Piper Hudspeth Blackburn Harris ’, “ Donald Trump, Tami Luhby Organizations: CNN, Center for American Progress Action, CAP, Peterson Institute for International Economics, Center, Democratic, US, Protection, Army Corps of Engineers, CBS Locations: Pennsylvania, persuadable, Mexico, CNN’s

☆ Israel’s war could set Gaza back 69 years, UN warns
▼ + stars: | 2024-10-23 | by ( Isaac Yee | ) edition.cnn.com time to read: +2 min

CNN —The impact of Israel’s war in the Gaza Strip could erase “over 69 years of progress” in the enclave, the United Nations has warned in a new report, saying that measurement for indicators such as life expectancy, education, income and standard of living are projected to drop to a level estimated for 1955. Israel launched a war on Hamas in Gaza on October 7 last year after the group attacked southern Israel, killing 1,200 people and taking more than 250 hostages. The Israeli offensive has killed more than 42,000 people in Gaza, according to the health ministry there, displaced most of its people and flattened large swathes of the enclave. The UN report, which looks at estimates for the Palestinian territories as a whole, says that over 4 million people in them were affected by poverty in 2024, including 2.6 million newly impoverished people. This brings the poverty rate to 74.3% across the Palestinian territories, according to the report.

Persons: ”, Achim Steiner, State Anthony Blinken, Mahmoud Abbas, Israel Organizations: CNN, United Nations, UN, Programme, UNDP, State, State Department, Israel, Palestinian Locations: Gaza, Palestinian, Israel

☆ 'Generational opportunity': Invest in real estate as stock and bond returns shrink, according to $3.5 trillion JPMorgan Asset Management
▼ + stars: | 2024-10-23 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

However, real estate — specifically the commercial side — may be poised to take off. "This is absolutely the largest generational opportunity to invest in real estate in a long time," Issar said at the conference. "This is a time for investors to step in, move into attractive pricing, move into asset classes like non-core real estate." Investors can bet on a commercial real estate rebound by working with JPMAM's team, or on their own through publicly traded real estate investment trusts (REITs). "That is the modernization of the new direct real estate that is going to be really attractive for investors in the future."

Persons: Goldman Sachs, —, Goldman Sachs Goldman Sachs, they're, That's, David Kelly, what's, JPMAM, Kelly, David Lebovitz, Monica Issar, Issar Organizations: JPMorgan Asset Management, Service, Asset Management, Management, JPMorgan Private

Three Democratic senators are asking McDonald’s about its menu price hikes in recent years, arguing that the increases are higher than they should be — even with inflation and rising operating costs. McDonald’s prices have raised eyebrows. It also asked whether McDonald’s executives received bonuses or other incentive-based compensation from 2020 to 2024 and whether any incentives were based on executives’ ability to increase per-customer profits. Large corporations “owe consumers transparency when they hike menu prices,” Wyden said in a statement to NBC News. “Fast food chains, like McDonald’s, are raking in profits while families struggle to buy meals that are meant to be affordable and accessible.”

Persons: Elizabeth Warren of, Bob Casey of Pennsylvania, Ron Wyden, Chris Kempczinski, “, ”, McDonald’s, Joe Erlinger, —, Erlinger, Warren, Madeleine Dean, General Mills, Casey, Kempczinski, ” Wyden Organizations: Democratic, Oregon, NBC News, USA, Roosevelt Institute, Mac, Cola, PepsiCo, Wall, McDonald’s Locations: Sens, Elizabeth Warren of Massachusetts, U.S, Connecticut, shrinkflation, ”

☆ Hoard of silver coins dating from Norman Conquest is Britain’s most valuable treasure find ever
▼ + stars: | 2024-10-22 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

London CNN —A hoard of Norman-era silver coins unearthed five years ago in southwestern England has become Britain’s most valuable treasure find ever, after it was bought for £4.3 million ($5.6 million) by a local heritage trust. The coins date from one of the most turbulent periods in English history. “The hoard was buried in around 1067-1068 on an estate in Chew Valley which later belonged to Giso, the Bishop of Wells. We think it was probably buried for safekeeping during the time of rebellions against William in the South West. Finding coins that were in use almost 1,000 years ago is exceptionally rare – this hoard contains twice as many coins from during Harold II’s reign as had previously been found.

Persons: King Edward the Confessor, Harold Godwinson, Earl of Wessex, Harald Hardrada, King of Norway, William, Duke of Normandy, Edward, King Harold II, Harold II, William I, William the, Amal Khreisheh, Wells, “, Harold’s, Khreisheh, Harold II’s Organizations: London CNN, British, South West Heritage Trust, British Museum Locations: London, England, Chew, Bristol, Hastings, Chew Valley, Giso, South, Exeter, Ireland, Somerset

☆ How to clean a garbage disposal, according to experts
▼ + stars: | 2024-10-21 | by ( Cory Fernandez | Cory Fernandez Is A Commerce Editor For Select On Nbc News. | ) www.nbcnews.com time to read: +11 min

That’s why learning how to clean your garbage disposal on a regular basis is key to maintaining a clean and odor-free kitchen. SKIP AHEAD How I picked the best products for cleaning a garbage disposal | The best products for cleaning a garbage disposal | How to clean a garbage disposal | Why trust NBC Select? Affresh Garbage Disposal Cleaner $ 11.94 Amazon What we like Abrasivesmall size Something to note Nothing to note at this timeCotter also recommends the brand Affresh for cleaning your garbage disposal. How to clean a garbage disposalHere how our experts recommend cleaning a garbage disposal to get rid of food buildup, grime and strong odors. You should clean your garbage disposal with a store-bought cleaner, such as Glisten, at least once a month, according to Cotter.

Persons: Kadi Dulude, Will Cotter, Cotter, seltzer, Meyers, ”, “, grout, TikTok Organizations: NBC, Facebook, Twitter Locations: Dulude

☆ The tax code could be in for upheaval. How to prepare your portfolio, per Bank of America
▼ + stars: | 2024-10-21 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

The Tax Cuts and Jobs Act (TCJA), which took effect in the beginning of 2018, overhauled the federal tax code. It roughly doubled the standard deduction, adjusted individual income tax brackets , lowered most of the rates and applied a $10,000 cap on the state and local tax deduction. Mutual funds tend to have higher turnover – that is, buying and selling of underlying securities – and by law they must distribute capital gains. Meanwhile, income from Treasurys are subject to federal income tax, but exempt from state and local tax. Seek tax-efficient opportunities for your holdings Take a look at your portfolio and see whether there are opportunities for tax-advantaged yield, Woodard said.

Persons: Jared Woodard, Woodard, MLPA Organizations: Bank of America, Mutual, Bloomberg, ETF, SEC, Muni, MLP & Energy Infrastructure, Global, MLP, MLPX, & $ Locations: U.S

☆ 10 analysts just hiked their price targets on these 3 stocks — including a Big Tech AI firm
▼ + stars: | 2024-10-21 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

A slew of Wall Street analysts last week turned even more bullish on three stocks ahead of their quarterly earnings reports. CNBC Pro screened for stocks in the MSCI World Index that have received share price target upgrades from Wall Street analysts over the past seven days. Despite raising their price target, Phillip Capital analysts have a "neutral" rating on the stock. The median price target of 17 analysts points to 18% upside potential. The company's share price is correlated to the price of gold , and also copper to a lesser degree.

Persons: Barrick, Jeffrey Wlodarczak, Wlodarczak, Zuckerberg, Helena Wang Organizations: Street, Ltd, Barrick Gold, CNBC Pro, Wall Street, Facebook, Research, Limited, New York Stock Exchange, Phillip Capital Locations: U.S, Singapore, SeaMoney, Canada

☆ CD, Checking, and Savings Rates Today: Grow Your Savings
▼ + stars: | 2024-10-20 | by ( Business Insider | ) www.businessinsider.com time to read: +7 min

Featured High Interest Checking Account Offers Compare checking accounts that offer high APYs, rewards on debit card purchases, or both. High-Yield Savings AccountsThe best high-yield savings accounts provide the security of a savings account with the added bonus of a high APY. A checking account is like a hub for your money: If your paycheck is direct deposited, it's typically to a checking account. A savings account often limits the number of monthly transfers, while a checking account doesn't. 2-Year CDsThe best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates.

Persons: APYs, —, Cash, we've Organizations: Federal Reserve, Cash Locations: —

☆ America's New Economic Supercycle: Growth, Prices, Stock Market Chaos
▼ + stars: | 2024-10-20 | by ( Linette Lopez | ) www.businessinsider.com time to read: +12 min

First, higher interest rates will reward savers, making it more expensive to take risks. And with interest rates so low, companies could suddenly load up on debt: From 2007 to 2017, global nonfinancial corporate debt doubled, to $66 trillion. Now, with the arrival of a new supercycle, money managers are once again being forced to adapt to a changing set of economic realities. Normally, when the Fed hikes interest rates rapidly, the stock market tanks. Rising interest rates will make loans more expensive, forcing businesses to make more-thoughtful decisions about debt.

Persons: Josh Hirt, Silas Myers, Myers, Hirt, you've, Joe Quinlan, they'll, Quinlan Organizations: Investors, Vanguard, Mar Vista Investments, Federal Reserve, Capital, . Venture, Nasdaq, Bank of America, Big Tech, Federal Trade Commission, Treasury, European Union, Aerospace Locations: Washington, China, Unemployment, Europe, America, Japan, United States

☆ Democratic senators are crushing their GOP opponents in the money race. They're still likely to lose their majority.
▼ + stars: | 2024-10-19 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +10 min

Related storiesIn the country's nine most competitive races, Democratic candidates raised an average of 2.8 times more than Republican candidates. AdvertisementAs of now, Democratic candidates have continued to lead in polling in every state where they're on defense — except for Montana. Tim Sheehy, the GOP Senate nominee in Montana, may be benefiting from the decline of "ticket-splitting." Eric Hovde, the GOP Senate nominee in Wisconsin, has poured millions into his own campaign. Republicans' "Senate Leadership Fund" raised $115.7 million in the most recent period, while Democrats' "Senate Majority PAC" raised $119 million.

Persons: they're, —, Kamala Harris, Sen, Joe Manchin's, Donald Trump, JD Vance, Harris, they've, Democratic Sen, Sherrod Brown outraised, Bernie Moreno, Elissa Slotkin, Mike Rogers, Ruben Gallego, Kari Lake's, Ted Cruz, Colin Allred, Tommy Garcia, Philip Letsou, Jon Tester, Tester, Tim Sheehy, Sheehy, Michael Ciaglo, Trump, Democrat —, Eric Hovde, Tammy Baldwin's, Scott Olson, Dave McCormick, Moreno, There's, aren't, Brown Organizations: GOP, Service, Democratic, Senate, Republican, Democratic Rep, Republicans, Democrats, Democratic Senatorial, Committee, National Republican, Big, Montana Democrat, Trump, Democrat, Buckeye State, Jobs, Banking Committee Locations: West Virginia, Montana, Arizona, Nevada, Ohio, Texas, Harris, Democrat — Wisconsin, Wisconsin, Pennsylvania

☆ Investors are piling into real estate as values skyrocket by up to 38%. 13 metros with the highest gains, and 25 that are plunging.
▼ + stars: | 2024-10-19 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Mortgage rates stayed high despite rate cuts, attracting cash-heavy investors to the housing market. AdvertisementDespite the central bank cutting interest rates, mortgage rates haven't followed suit. RedfinBut whether they're buying or selling, investors have been doing quite well regarding capital gains, says Elijah de la Campa, a senior economist at Redfin. Below is a list of the 39 major metro areas in descending order of median capital gains over the past year into June. What stands out most to de la Campa is that many areas with the highest capital gains are affordable, particularly Philadelphia and Warren, MI.

Persons: —, Lily Katz, Katz, Elijah de la, Campa Organizations: Providence, Service, Investors Locations: Cities, San Jose, Denver, Oakland, San Jose , CA, Portland, Oakland , CA, Providence , RI, Philadelphia, Warren , MI

☆ CD, Checking, and Savings Rates Today: Maximize Your Returns
▼ + stars: | 2024-10-18 | by ( Business Insider | ) www.businessinsider.com time to read: +7 min

Persons: APYs, —, Cash, we've Organizations: Federal Reserve, Cash Locations: —

☆ King Charles visits Australia as the country puts its republic debate on hold
▼ + stars: | 2024-10-18 | by ( Hilary Whiteman | Lauren Said-Moorhouse | ) edition.cnn.com time to read: +8 min

Lesley Kerl met King Charles in Sydney during his last trip to Australia in April 2018. Pool via Nine NewsAfter Australia, King Charles will head to Samoa to join world leaders at the biennial Commonwealth Heads of Government Meeting (CHOGM), his first as head of the organization. “We’d love to wave goodbye to royal reign,” Nathan Hansford, co-chair of the Australian Republic Movement, told Reuters. The Australian Republic Movement launched a "farewell Oz tour" for King Charles ahead of his visit. He seems to have put that on hold to come out to Australia, as part of the Commonwealth,” McArthur said.

Persons: Australia CNN —, Charles, Camilla, Lesley Kerl, Kerl, King, “, ”, King Charles, there’ll, –, ” Nathan Hansford, Bev McArthur, ” McArthur, She’s, McArthur, Anthony Albanese, lauding, Queen Elizabeth II, Duke, Edinburgh, George Gross, Charles III, Thibaud Moritz, They’ll, Albanese –, Georgina Long, Richard Scolyer –, They’re, Scolyer, King George VI, I’ve, Anne Organizations: CNN’s Royal, Australia CNN, Government, Republicans, Australian Republic Movement, Reuters, The Australian Republic Movement, Commonwealth, Aboriginal, Torres Strait, Sports, Fox, King’s College London, Getty, Canberra, Australian, Torres, Opera, New Locations: Brisbane, Australia, Sydney, Commonwealth, Samoa, Windsor, Normandy, “, Germany, France, Kenya, United Kingdom, New Zealand, Charles, Torres Strait, New South Wales

The Federal Reserve cut its interest rates one month ago, on September 18. One month ago, the Federal Reserve cut interest rates by 50 basis points — the first Fed rate cut since early 2020. High-yield savings account rates at bigger banks — such as Ally, Synchrony, and BMO Alto — have fallen below 5% interest, but they're still significantly higher than average savings account interest rates. High-yield checking account rates earn up to 7% APYThe best high-yield checking accounts have been impacted the least by Fed rate cuts. Featured High Interest Checking Account Offers Compare checking accounts that offer high APYs, rewards on debit card purchases, or both.

Persons: LendingClub, Synchrony, they're, we've Organizations: Federal Reserve, Here's, Newtek Bank, BMO Alto, Money Market, Federal Credit Union Locations: Pibank, U.S

A high-yield savings account provides more rewards than a typical savings account, with no risk. I missed out on $1,200 in the five years before I opened a high-yield savings account. That's the feeling I get every time I check the balance of my high-yield savings account. Compare Today's RatesWhy I chose a high-yield savings accountI've had a savings account since college, but I didn't always have a high-yield account. How I chose my high-yield savings accountNowadays, there are lots of high-yield savings accounts on the market, many with no minimum requirements and no fees.

Persons: you'd, I've, I'd, Ally Organizations: Ally Bank, Federal Reserve Locations: it's, Ireland

☆ U.S. deficit tops $1.8 trillion in 2024 as interest on debt surpasses trillion-dollar mark
▼ + stars: | 2024-10-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The Biden administration rang up a budget deficit topping $1.8 trillion in fiscal 2024, up more than 8% from the previous year and the third highest on record, the Treasury Department said Friday. Even with a modest surplus in September, the shortfall totaled $1.833 trillion, $138 billion higher than a year ago. The deficit came despite record receipts of $4.9 trillion, which fell well short of outlays of $6.75 trillion. Government debt has swelled to $35.7 trillion, an increase of $2.3 trillion from the end of fiscal 2023. Interest expense for the year totaled $1.16 trillion, the first time that figure has topped the trillion-dollar level.

Organizations: Biden, Treasury Department, Social Security, Treasury, Congressional, Office

☆ Clippers star Kawhi Leonard reportedly out indefinitely with knee inflammation
▼ + stars: | 2024-10-17 | by ( Rohan Nadkarni | Rohan Nadkarni Is A Sports Reporter For Nbc News. | ) www.nbcnews.com time to read: +2 min

Los Angeles Clippers forward Kawhi Leonard will be out indefinitely to start the season with right knee inflammation, reports ESPN. Leonard has not practiced with or played in any games for the Clippers during the preseason. Since then, his right knee has been a recurring issue. In 2023, Leonard missed the final three games of the Clippers’ first-round loss to the Phoenix Suns after tearing the meniscus in his right knee. The Clippers will tip off their regular season on Oct. 23 against the Suns.

Persons: Kawhi Leonard, Leonard, we’ve, Brian Shaw, “, ” Leonard, Angeles, Paul George, George Organizations: Los Angeles Clippers, ESPN, Clippers, Dallas Mavericks, Team USA, Paris, ” Clippers, Western, Los Angeles, Phoenix Suns, Philadelphia 76ers, Suns Locations: Los

☆ Stocks making the biggest moves midday: Nvidia, Travelers, Blackstone, Uber and more
▼ + stars: | 2024-10-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Travelers' third-quarter earnings came in at $5.24 per share, topping the $3.55 a share expected from analysts polled by LSEG. Blackstone reported third-quarter earnings of $1.01 per share on revenue of $2.43 billion. CSX — Shares slipped 5.9% after the transportation company reported disappointing third-quarter results. Alcoa — The aluminum producer's stock shed more than 3% after the company reported third-quarter revenue of $2.90 billion, below the $2.97 billion LSEG consensus estimate. Synovus Financial — Shares popped 5% after the company reported better-than-expected adjusted earnings per share for the third quarter.

Persons: Uber, LSEG, Elevance, Blackstone, Equifax, Synovus, — CNBC's Sean Conlon, Hakyung Kim, Alex Harring, Pia Singh Organizations: Taiwan Semiconductor, Nvidia, Micron, Times, Expedia, —, LSEG, CSX, Nokia —, Alcoa, FactSet, Dynamics, Steel, Walgreens, Alliance

☆ China pledges more financial support for 'whitelist' real estate projects
▼ + stars: | 2024-10-17 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +4 min

China vowed more financial support for real estate projects that fall under its so-called whitelist and to speed up banks lending of 4 trillion yuan ($561.8 billion) for such projects, according to the nation's housing ministry. A total of 2.23 trillion yuan has been approved in loans to whitelisted developers, and that figure is expected to exceed 4 trillion yuan by the end of this year, according to a senior official from the financial regulator. Real estate was also the leading gainer in Mainland China's CSI 300, advancing by nearly 5%. Days later, officials in a top-level meeting, chaired by Chinese president Xi Jinping, pledged to "halt the real estate market decline and spur a stable recovery." More than 50 cities across China had introduced policies to boost the real estate market, according to Chinese state media citing the housing ministry.

Persons: Ni, HSMPI, Pan Gongsheng, Xi Jinping, Goldman Sachs, —, — CNBC's Evelyn Cheng Organizations: National Financial Regulatory Administration, Investors, China's Ministry of Finance, Mainland, China's CSI, People Bank of China, National Bureau, Statistics Locations: China, Beijing, China's, Guangzhou, Shanghai, Shenzhen

☆ TSMC third-quarter profit beats expectations as AI boom drives 54% hike
▼ + stars: | 2024-10-17 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

An image of a semiconductor wafer at the Taiwan Semiconductor Manufacturing Museum of Innovation in Hsinchu, Taiwan, on Jan. 11, 2022. Taiwan Semiconductor Manufacturing Company on Thursday reported a 54% hike in net profit, as global chipmakers continue to benefit from demand boosted by AI applications. The company's net income was 352.3 billion Taiwanese dollars ($10.1 billion) over the July-September quarter, surpassing an LSEG estimate of $300.2 billion Taiwanese dollars cited by Reuters. Capital expenditure edged higher to $6.4 billion in the third quarter, versus $6.36 billion across the three preceding months. TSMC's earnings beat comes the same week as Netherlands-based ASML , which supplies machines to the Taiwanese company, issued a lower-than-expected forecast of net sales, sending shares tumbling.

Organizations: Taiwan Semiconductor Manufacturing, Innovation, Taiwan Semiconductor Manufacturing Company, Reuters, TSMC, Apple, Nvidia Locations: Hsinchu, Taiwan, Netherlands

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