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☆ Elon Musk appears to have given up on trying to camouflage his private-jet travels with an FAA program used by Jeff Bezos and Taylor Swift
▼ + stars: | 2023-10-28 | by ( Grace Kay | Taylor Rains | ) www.businessinsider.com time to read: +6 min

Last year, Elon Musk stopped using an FAA program allowing jet owners to fly incognito, JetSpy said. REUTERS/Aly SongThe FAA launched the PIA program in 2019 and has issued 390 alternate ID codes since the program began, an FAA spokesperson told Insider. Musk used his first alternate ID through the PIA program about a month later. The incognito registration number also doesn't prevent Sweeney from tracking the private jet via ADS-B Exchange, a public flight-tracking database. AdvertisementAdvertisement"The PIA program limits the ability to identify an aircraft in real-time using inexpensive, commercially available receivers," an FAA spokesperson told Insider.

Persons: Elon Musk, JetSpy, Musk, —, hasn't, Jack Sweeney, Sweeney, he's, LADD, it's, Elon, Aly Song, Forbes, Jeff Bezos, Taylor Swift, Christian Renneissen, Collins Organizations: FAA, Service, Twitter, Federal Aviation Administration, PIA, University of Central Florida, Gulfstream, Elon Locations: California, Texas, SpaceX's, Brownsville, Hawthorne, Shanghai, Rome

☆ Asian shares track US futures higher, bonds hold gains
▼ + stars: | 2023-10-27 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Overnight, the European Central Bank left interest rates unchanged as expected, sending the euro briefly to a two-week low. S&P 500 futures rose 0.4% while Nasdaq futures rallied 0.7%, driven by a 5% jump in Amazon shares in after-hours trading. In a statement after the U.S. close, the tech giant predicted higher holiday season sales and a stabilisation in its cloud business. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) bounced 0.6% on Friday after hitting a fresh 11-month low a day ago. Brent crude futures climbed 0.5% to $88.38 a barrel while U.S. West Texas Intermediate was at $83.58 a barrel, up 0.4%.

Persons: Aly, Hong, HSI, Nathaniel Casey, Evelyn, Goldman Sachs, Stella Qiu, Sam Holmes Organizations: REUTERS, Nasdaq, European Central Bank, Bank of Japan, Tokyo's Nikkei, Evelyn Partners, 1bp, CME, Brent, West Texas, Thomson Locations: Shanghai, China, SYDNEY, U.S, Asia, Pacific, Japan, East, Israel, Gaza

A Hyundai Elantra N is displayed at the Auto Shanghai show, in Shanghai, China April 18, 2023. Hyundai reported a net profit of 3.2 trillion won ($2.36 billion) for the July-September period, up from 1.3 trillion in profit a year earlier. That exceeded an estimate of 2.9 trillion won from 19 analysts compiled by LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate. Revenue rose 8.7% year-on-year to 41 trillion won. Shares of Hyundai Motor were trading down 0.2% as of 0451 GMT, versus benchmark KOSPI's (.KS11) 2.4% fall.

Persons: Aly, LSEG SmartEstimate, 1,358.3200, Heekyong Yang, Joyce Lee, Clarence Fernandez, Jamie Freed Organizations: Hyundai, Auto, REUTERS, Rights, General Motors, EV, Hyundai Motor, Thomson Locations: Auto Shanghai, Shanghai, China, Rights SEOUL, KS

☆ Volvo Cars' promise of EV boom falls on deaf ears as shares drop 12%
▼ + stars: | 2023-10-26 | by ( Marie Mannes | Thomson Reuters | Stockholm-Based Company News Correspondent Who Mainly Covers Anything To Do With Retail | ) www.reuters.com time to read: +2 min

As the company reported third-quarter earnings, Chief Executive Jim Rowan told Reuters that he saw healthy demand for its cars, and was optimistic the margins would increase further in the fourth quarter. Volvo's BEV margins were 9% in the quarter, a sharp increase from the previous quarter's figure of 3%. Rowan said he expected the trend of falling prices of raw materials to continue, helping the company increase margins further for the fourth quarter. Investors proved unconvinced, as Volvo shares, down 10% by 1014 GMT, after having fallen as much as 12%, looked set for their biggest ever one-day drop. EV makers have engaged in stiff competition this year, after Tesla ignited a price war intensified by new Chinese players.

Persons: Aly, Jim Rowan, EVs, BEV, Rowan, Jefferies, Philippe Houchois, Houchois, Tesla, China's Geely, Marie Mannes, Greta Rosen Fondahn, Terje Solsvik, Clarence Fernandez Organizations: Volvo, Auto Shanghai, REUTERS, Rights, Reuters, Benz, Motors, Ford, Volkswagen, China's, Thomson Locations: Shanghai, China, Rights STOCKHOLM, EVs

☆ ATP roundup: Daniil Medvedev headlines day of sweeps at Vienna
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

Overall, Medvedev won 28 of 31 first-service points while collecting 16 winners against just three unforced errors. Sinner topped American Ben Shelton 7-6 (2), 7-5; Gojo ousted Russia's Aslan Karatsev 6-3, 6-3; and Monfils downed Daniel Altmaier of Germany 6-4, 6-4. In second-round action, fifth-seeded German Alexander Zverev downed Great Britain's Cameron Norrie 6-2, 6-4, while No. Swiss Indoors BaselArgentina's Tomas Martin Etcheverry rallied to beat Andy Murray of Great Britain 6-7 (5), 6-3, 6-2 in a second-round match at Basel, Switzerland. 4 seed Hurbert Hurkacz of Poland also won his second-round match, sweeping German Jan-Lennard Struff 6-1, 6-4.

Persons: Russia's Daniil Medvedev, Sebastian Korda, Aly, Daniil Medvedev, Frenchman Arthur Fils, Fils, Medvedev, Italy, Borna Gojo, Gael Monfils, Sinner, Ben Shelton, Gojo, Russia's Aslan Karatsev, Monfils, Daniel Altmaier, Alexander Zverev, Britain's Cameron Norrie, Karen Khachanov, Jiri Lehecka, Basel Argentina's Tomas Martin Etcheverry, Andy Murray of, Etcheverry, Murray, Lennard, Casper Ruud, Taylor Fritz, Felix Auger, France's Ugo Humbert Organizations: Shanghai, Sports City Arena, U.S, REUTERS, Erste Bank, Swiss, Basel Argentina's, Thomson Locations: Shanghai, China, Vienna, Croatian, Germany, Russia, Czech, Andy Murray of Great Britain, Basel, Switzerland, Poland

☆ Country Garden default on dollar bond declared for first time -Bloomberg News
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: 1 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsOct 25 (Reuters) - Chinese developer Country Garden Holdings (2007.HK) has been deemed in default on a U.S. dollar bond for the first time, Bloomberg News reported on Wednesday, citing a notice. Country Garden's failure to pay interest on the note within a grace period that ended last week "constitutes an event of default", Bloomberg reported citing the notice to holders from a trustee. Reporting by Gursimran Kaur in Bengaluru; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Gursimran Kaur, Christopher Cushing Organizations: Shanghai Country Garden, REUTERS, Country Garden Holdings, HK, U.S, Bloomberg, Thomson Locations: Shanghai, China, Bengaluru

☆ ATP roundup: Top seed Holger Rune rallies in Basel
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

1 seed Holger Rune of Denmark bounced back from a rough first set to beat Serbia's Miomir Kecmanovic 1-6, 7-5, 6-3 in first-round action at the Swiss Indoors Basel on Tuesday. Rune overcame four double faults and 15 unforced errors by winning 30 of his 43 first-service points (69.8 percent). 4 seed Hubert Hurkacz of Poland beat Serbia's Dusan Lajovic 7-6 (2), 6-3, while fifth seed Alex de Minaur of Australia beat Diego Schwartzman of Argentina 6-4, 6-4. 4 seed Stefanos Tsitsipas of Greece beat home-country favorite Dominic Thiem 7-6 (5), 6-4 in the first round in Vienna, Austria. 3 seed Andrey Rublev of Russia defeated Australia's Alexei Popyrin 7-6 (5), 6-4, and American sixth seed Tommy Paul took care of Frenchman Alexandre Muller 6-3, 6-1.

Persons: Holger Rune, Brandon Nakashima, Aly, Denmark, Serbia's, Rune, Hubert Hurkacz, Serbia's Dusan Lajovic, Alex de Minaur, Diego Schwartzman, Nicolas Jarry of, Frenchman Adrian Mannarino, Tallon Griekspoor, Russian Alexander Shevchenko, Dominic Stricker, Dominic Thiem, Tsitsipas, Andrey Rublev, Australia's Alexei Popyrin, Tommy Paul, Frenchman Alexandre Muller, Frances Tiafoe, Daniel Evans of Great, Grigor Dimitrov of, Tomas Machac, Lorenzo Sonego Organizations: Shanghai, Sports City Arena, U.S, REUTERS, Swiss, Basel, Australia, Erste Bank, Russia, Thomson Locations: Shanghai, China, Poland, Argentina, Nicolas Jarry of Chile, Netherlands, Russian, Swiss, Greece, Vienna, Austria, American, U.S, Daniel Evans of Great Britain, Grigor Dimitrov of Bulgaria, Czech

☆ China passes patriotic education law for children, families -state media
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Students stand at a school during a flag-lowering ceremony on the first day of the new academic year in Shanghai, China, September 1, 2021. REUTERS/Aly Song/File Photo Acquire Licensing RightsHONG KONG, Oct 25 (Reuters) - China's national legislature on Tuesday passed a law to strengthen patriotic education for children and families, state media reported, to counter challenges such as "historical nihilism" and safeguard "national unity". The Patriotic Education Law provides a legal guarantee for carrying out patriotic education, state-backed Xinhua news agency reported, adding that some people "are at a loss about what is patriotism." The law mandates that patriotic education respects the "history and cultural traditions of other countries and draws inspiration from all of human civilization's outstanding achievements," it said. The law also has targeted measures for different groups of people, including government officials, employees, villagers and residents in special administrative regions Hong Kong and Macau, as well as Taiwan, state-backed China Daily said.

Persons: Aly, Farah Master, Christian Schmollinger Organizations: REUTERS, Patriotic Education, Xinhua, China Daily, Thomson Locations: Shanghai, China, HONG KONG, Xinhua, Hong Kong, Macau, Taiwan

Expectations for persistently higher interest rates has led companies to alter plans as they eye 2024 warily. "EV demand next year could be lower than expectations," Lee Chang-sil, chief financial officer at South Korean battery maker LG Energy Solution (373220.KS) said on Wednesday, due to global economic uncertainty. GM on Tuesday said it would focus near-term EV efforts on meeting demand rather than hitting specific volume targets. If interest rates remain high or if they go even higher, it's that much harder for people to buy the car." Like many other industrial firms, carmakers hedge against commodity price swings, and with EV demand slowing, raw material prices have softened, including those used heavily in batteries.

Persons: Tesla, Aly, Lee Chang, Mary Barra, Elon Musk, Nidec, China's CATL, Ben Klayman, David Gaffen, Eric Onstad, Jonathan Oatis Organizations: REUTERS, Honda, EV, sil, South, LG Energy, General Motors, GM, Investors, Tech, Cox Automotive, European Union, Volkswagen, Fastmarkets, CME, U.S, Ford, EVs, Victoria Waldersee, Thomson Locations: Tesla China, Shanghai, China, KS, United States, Mexico, Detroit, New York, London, Berlin

☆ It’s Covid Season. What Are the New Rules for Staying Safe?
▼ + stars: | 2023-10-25 | by ( Dani Blum | More About Dani Blum | ) www.nytimes.com time to read: +1 min

That means it might be time to take stock (yes, again) of how you can minimize your risk. As the holiday season approaches, here is a quick refresher on how to navigate the pandemic. You’ve heard it before, you’ll hear it again: Masks can help you protect yourself and others from becoming sick. So can washing your hands thoroughly and not touching your face with unwashed hands, said Dr. Joseph Khabbaza, a pulmonary and critical care doctor at Cleveland Clinic. The updated Covid vaccines can also reduce your chances of being infected, and especially cut down on your risk of serious illness, said Dr. Ziyad Al-Aly, the chief of research and development at the V.A.

Persons: ”, Peter Chin, Joseph Khabbaza, Ziyad Al, Aly Organizations: University of California, Cleveland Clinic, Louis Healthcare Locations: San Francisco, St

☆ Time is ripe for another push on carbon pricing
▼ + stars: | 2023-10-24 | by ( Hugo Dixon | ) www.reuters.com time to read: +8 min

Other technologies, such as green hydrogen and carbon capture, are still a long way from maturity. Around 50 countries have some form of carbon price, double the number 10 years ago, and another 23 countries are planning to introduce one. The snag is that China’s carbon price is low and the United States doesn’t have a federal levy. Others argue that governments should combine carbon pricing with financial support for the most vulnerable and targeted subsidies for fledgling technologies. To hit climate targets, the carbon price would need to be $135 a tonne in advanced economies and $45 a tonne in large emerging ones by 2030.

Persons: Jin Mao, Aly, Joe Biden’s, There’s, Rishi Sunak, Michael Jacobs, it’s, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Financial, REUTERS, Reuters, International Energy Agency, European Union, Global, International Monetary Fund, Reuters Graphics Reuters, British, Pew Research, University of Sheffield, IMF, Africa Climate, United, European, Climate Leadership Council, Thomson Locations: Shanghai, Pudong, China, United States, Paris, Africa, European Union, U.S

☆ ByteDance says committed to VR business Pico after report of it shutting brand
▼ + stars: | 2023-10-24 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

The statement came after Chinese research firm EqualOcean published a report saying that ByteDance founder Zhang Yiming told Pico's management team ByteDance would gradually give up on the Pico business. Pico is under normal operation and the company will continue to invest in the extended reality (XR) business over the long term," ByteDance said in a statement shared with Reuters. The Pico headsets are often seen as ByteDance's answer to the popular Quest headsets developed by Meta Platforms Inc (META.O). Pico has the biggest market share for VR headsets in China, accounting for over 58% of the market, as Meta's Quest devices have yet to enter the country officially. The Wall Street Journal reported earlier this year that Pico has increased its headset shipments last year while Meta's headset shipments declined.

Persons: Aly, ByteDance, EqualOcean, Zhang Yiming, Pico's, Pico, Bytedance, Josh Ye, Deborah Kyvrikosaios Organizations: REUTERS, Reuters, XR, Meta Platforms Inc, Street Journal, IDC, Thomson Locations: Shanghai, China, HONG KONG, Pico

☆ Shares in China's iFlyTek tumble after reports AI-powered device criticised Mao
▼ + stars: | 2023-10-24 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

An iFlytek company sign is seen at the Appliance and Electronics World Expo (AWE) in Shanghai, China March 23, 2021. It has proposed the compilation of a blacklist of sources that cannot be used to train Chinese AI models. IFlyTek on Tuesday revealed its latest Spark AI model which the company says can rival OpenAI’s ChatGPT in most key areas. Liu said iFlytek’s model could compete with OpenAI’s GPT-4 early next year. The company also said that it is working with Huawei Technologies (HWT.UL) on an AI model training platform which uses Huawei’s flagship AI chips.

Persons: Aly, Mao Zedong, Baijiahao, Mao, iFlyTek, Liu Qingfeng, OpenAI’s, Liu, Josh Ye, Brenda Goh, Sharon Singleton Organizations: Appliance, Electronics, REUTERS, Reuters, Communist Party, Huawei Technologies, Thomson Locations: Shanghai, China, HONG KONG, iFlytek

☆ What is the Student Aid Report?
▼ + stars: | 2023-10-24 | by ( Aly J. Yale | Richard Richtmyer | ) www.businessinsider.com time to read: +14 min

The Student Aid Report summarizes the information on your Free Application for Federal Student Aid (FAFSA). See Insider's picks for the best private student loans >>What is the Student Aid Report (SAR)? The Student Aid Report is a document that, through the 2023-2024 school year, was used to summarize the data submitted on a Free Application for Federal Student Aid (FAFSA). Federal student aid eligibilityYour summary will also include your Student Aid Index — formerly called the Expected Family Contribution. Schools and aid offersThe schools you apply to don't actually receive your FAFSA Submission Summary (formerly Student Aid Report).

Persons: —, Shannon Vasconcelos, Robert Kersey, you'll, Kersey, Vasconcelos, Perkins, Pell Grant, Elaine Rubin, You'll Organizations: Federal Student Aid, Service, Bright Horizons, Grants, What's, College of Charleston, Education, Department, Department of Federal Student Aid, Internal Revenue Service, SAR Locations: FAFSA.gov

☆ West’s latest China corporate risk: medical graft
▼ + stars: | 2023-10-23 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

An employee wearing a face mask is seen at a workshop of computed tomography (CT) scanners of medical device firm Siemens Healthineers in Shanghai, China, February 24, 2020. REUTERS/Aly Song Acquire Licensing RightsLONDON, Oct 23 (Reuters Breakingviews) - China corporate risk has spread to Western medical device companies. According to BMI analysts, about two-thirds of Chinese medical devices used by local hospitals and clinics are imported from Western groups. That implies a direct hit to the order and revenue growth for medical device firms. Domestic brands, which have historically lagged in the advanced end of the medical device market, took the whole of last decade just to hike their share from around 20% to 30%, Deloitte says.

Persons: Aly, Philips, George Hay, Oliver Taslic Organizations: Siemens, REUTERS, Reuters, Volkswagen, Philips, GE Healthcare, BMI, National Health Commission, Siemens Healthineers, Reuters Graphics Reuters, Deloitte, GE, Healthineers, Thomson Locations: Shanghai, China, People’s Republic, Beijing, United States

☆ ATP roundup: Sebastian Korda sent packing early in Basel
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

Korda fired eight aces to Etcheverry's two and won 33 of 39 first-serve points (84.6 percent), but Etcheverry moved on after saving four of six break points and breaking Korda twice in three opportunities. Dutch qualifier Botic van de Zandschulp beat Spaniard Roberto Bautista Agut 7-5, 6-7 (3), 6-2 in three hours, three minutes. 5 seed Alexander Zverev of Germany made quick work of Austrian wild card Sebastian Ofner, winning 6-4, 6-1 in the first round in Vienna. 8 seed Karen Khachanov defeated Roman Safiullin 6-4, 6-4 in a match between Russians. Cameron Norrie of Great Britain, Matteo Arnaldi of Italy and Jiri Lehecka of the Czech Republic also advanced.

Persons: Sebastian Korda, Argentina's Francisco Cerundolo, Aly, Tomas Martin Etcheverry, Korda, Etcheverry, Botic van, Zandschulp, Roberto Bautista Agut, Andy Murray of Great, Germany's Yannick Hanfmann, Argentina's Sebastian Baez, Germany's Jan, Lennard Struff, Alexander Zverev, Sebastian Ofner, Ofner, Zverev, Karen Khachanov, Roman Safiullin, Cameron Norrie, Matteo Arnaldi, Jiri Lehecka Organizations: Shanghai, Sports City Arena, Swiss, Basel, Erste Bank, Austrian, Thomson Locations: Shanghai, China, Argentina, Germany, Vienna, Great Britain, Italy, Czech Republic

People look at the new iPhone 15 Pro as Apple's new iPhone 15 officially goes on sale across China at an Apple store in Shanghai, China September 22, 2023. Analysts say the iPhone 15 has not been selling as well in China as its predecessor. Counterpoint Research said last week that iPhone 15 sales in China were down 4.5% versus the iPhone 14 in the first 17 days after its market launch. The 512 GB iPhone 15 Pro Max, which has a 11,999 yuan price tag in Apple's store, can be bought for 10,698 yuan on Alibaba's e-commerce platform Taobao. The e-commerce platform iPhone 15 discounts were first reported by The Economic Observer weekly newspaper on Monday.

Persons: Aly, Alibaba, Sophie Yu, Brenda Goh, Alexander Smith Organizations: Apple, REUTERS, Rights, PDD Holdings, HK, Counterpoint Research, Reuters, Economic Observer, Shanghai, Thomson Locations: China, Shanghai, Rights BEIJING

☆ How an Urban Forager Spends Her Sundays
▼ + stars: | 2023-10-21 | by ( Tammy Lagorce | ) www.nytimes.com time to read: 1 min

The urban forager Aly Stoffo leads excursions on Staten Island through her business, Glam Gardener NYC, and is a regular at farmers’ markets across New York and New Jersey, where she sells teas and tinctures made with the plants she harvests. Her Sundays can be chaotic. Ms. Stoffo, 28, is among five Staten Islanders whose portrait was painted by the artist Sarah Yuster for “Vulnerable Landscapes,” an exhibition that runs through December at the Staten Island Museum. The portraits highlight the work of locals working to promote a deeper understanding of the island’s flora, fauna and ecology. She lives in her childhood home with her father and older brother.

Persons: Aly Stoffo, ”, Stoffo, Sarah Yuster Organizations: Glam Gardener, Staten Islanders, Staten Island Museum Locations: Staten, New York, New Jersey

☆ Analysts' comments on China's export permits for some graphite products
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

Here is what analysts are saying about the measure:IVAN LAM, SENIOR ANALYST, COUNTERPOINT RESEARCH:"In addition to China, other countries and regions also implement graphite export controls. Graphite has a wide range of applications in industry, and the demand for its use is growing. KANG DONG-JIN, ANALYST AT HYUNDAI SECURITIES IN SEOUL:"It's not that China would suddenly stop export graphite, but it would be more intensely regulated and reviewed. It is still unclear how far China would take this graphite export curb, which would determine the supply chains. "With this new graphite export curb, South Korean firms - or South Korea in general, which heavily rely on China for graphite imports, would need to seek alternatives, such as mines from the United States or Australia, but it would likely increase cost burden for many."

Persons: Aly, IVAN LAM, CHRISTOPHER RICHTER, you've, KANG DONG, JIN, Brenda Goh, Daniel Leussink, Heekyong Yang, Miyoung Kim, Nivedita Organizations: REUTERS, Rights, EU, Thomson Locations: Port, Shanghai, China, Rights SINGAPORE, Russia, Ukraine, TOKYO, SEOUL, South Korea, United States, Australia, Tokyo, Seoul

☆ How Much Social Security Will I Get?
▼ + stars: | 2023-10-20 | by ( Aly J. Yale | ) www.wsj.com time to read: +5 min

For these reasons, it is hard to know exactly what your Social Security checks will look like years in advance. Every year, the government adjusts Social Security payouts for inflation—these are called cost-of-living adjustments, or COLA—so averages change, too. However, you can start taking Social Security anytime between ages 62 and 70. Whether or not you’ll owe taxes on your Social Security check is complicated, but more than half of Social Security recipients currently pay taxes on theirs. You can use the Social Security Administration’s Quick Calculator to get a rough idea of your payouts, or if you sign up for a My Social Security account, you’ll get an official estimate straight from the source.

Persons: Aly J, you’ve, You’ll, ”, Krisstin Petersmarck, —, James Sahagian, you’re, you’ll Organizations: Yale, Social Security, Bridgeriver Advisors, Social, Social Security Administration, Ramapo Wealth Advisors Locations: U.S, Bloomfield Hills, Mich, Ramapo, Ramsey , N.J

☆ China, world's top graphite producer, to curb exports of key battery material
▼ + stars: | 2023-10-20 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

FILE PHOTO: Trucks travel past containers at the Yangshan Deep Water Port in Shanghai, China January 13, 2022. It also refines more than 90% of the world’s graphite into material used in virtually all EV battery anodes. China is enacting the curbs at the same time that foreign governments are increasing their pressure on its companies over their industrial practices. Under the new restrictions announced on Friday, China will require exporters of two types graphite to apply for permits, including high-purity, high-hardness and high intensity synthetic graphite material, and natural flake graphite and its products. Top buyers of graphite from China include Japan, India and South Korea, according to Chinese customs data.

Persons: Aly Organizations: REUTERS, . Geological Survey, EV, European, Nvidia Locations: BEIJING, China, Port, Shanghai, U.S, United States, Europe, Japan, India, South Korea

☆ China's Huawei sells 1.6 mln Mate 60 Pro handsets in six weeks - research firm
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

An advertisement for Huawei's Mate 60 series smartphones is seen outside a Huawei store in Shanghai, China September 8, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsSHENZHEN, China, Oct 19 (Reuters) - Huawei Technologies (HWT.UL) has sold 1.6 million of its Mate 60 Pro handsets in six weeks, a research firm said, as the Chinese technology giant defies a smartphone slowdown to enjoy strong demand in its high-end smartphone renaissance. In its first 17 days, iPhone 15 sales were down 4.5% compared to the iPhone 14, Counterpoint said, without providing specific figures. Huawei made a surprise launch of its premium Mate 60 Pro phone in late August, which many analysts say uses a domestically made chip and marks a breakthrough in the face of years of U.S. technology sanctions against the company. In China August smartphone shipments remained largely flat, rising 0.03% year on year to 18.99 million handsets, according to the China Academy of Information and Communications (CAICT).

Persons: Aly, Ivan Lam, David Kirton, Deborah Kyvrikosaios Organizations: Huawei, REUTERS, Rights, Huawei Technologies, Apple, Counterpoint Research, Transsion, China Academy of Information, Communications, Thomson Locations: Shanghai, China, Rights SHENZHEN

☆ Asian stocks fall, gold at over 2-month high as Middle East tension weighs
▼ + stars: | 2023-10-19 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

U.S. stocks ended sharply lower on Wednesday as elevated Treasury yields weighed, with investors assessing the latest batch of quarterly corporate results and forecasts. Tesla (TSLA.O) CEO Elon Musk said on Wednesday that he was concerned about the impact of high interest rates on car buyers as the company missed Wall Street expectations on third-quarter gross margin, profit and revenue. Meanwhile, Federal Reserve policymakers are signalling a pause in hiking interest rates for another couple months. A Reuters poll of economists indicated that the Federal Reserve will keep its key interest rate on hold on Nov. 1 and may wait longer than previously thought before cutting it. Spot gold was at $1,948.16 per ounce, just shy of $1,962.39 its highest since Aug. 1 touched on Tuesday.

Persons: Aly, Treasuries, Anderson Alves, Joe Biden, Alves, Elon Musk, Christopher Waller, Jerome Powell, Brent, Ankur Banerjee, Christopher Cushing Organizations: REUTERS, Rights, Japan's Nikkei, Gaza, HK, Reuters, Taiwan Semiconductor Manufacturing Co, Reserve, European Economics & Financial, Federal Reserve, OPEC, Thomson Locations: Shanghai, Shenzhen, China, Rights SINGAPORE, Asia, Pacific, Japan, U.S, Israel, China's, London, United States, Venezuela

[1/4] Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. To prevent demand from waning, market leader Tesla, with industry-leading profit margins, has been the first and most aggressive in slashing prices, forcing others to follow suit and squeezing margins. "If interest rates remain high ... it's that much harder for people to buy the car. They simply can't afford it," Musk said, adding he would "accelerate" expansion of the Mexico factory if interest rates come down. That is not expected in the United States until June 2024, based on current market estimates , with recent robust economic data suggesting the central bank might leave interest rates higher for longer.

Persons: Aly, Elon Musk, Musk, Tesla, Ford, Tom Narayan, Narayan, Abhirup Roy, Ben Klayman, Jamie Freed Organizations: REUTERS, FRANCISCO, Wednesday, General Motors, Ford, EV, GM, Chevrolet Silverado, GMC, Air, RBC Capital Markets, Reuters, Thomson Locations: China, Shanghai, Mexico, Michigan, Detroit, U.S, United States, San Francisco

☆ EV battery firm CATL's Sept China market share slumps, bodes ill for Q3 results
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +3 min

People walk past the booth of the battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) at the Auto Shanghai show, in Shanghai, China April 18, 2023. CATL reports quarterly results on Thursday, and investors will be on the look out for the extent the world's largest EV battery maker bore the brunt of the EV sales slowdown in China and rising pressure from automakers to cut battery prices. "This... is an incentive for CATL to offer some price cuts to secure its market share." CATL's setback also comes amid weakening EV sales in China that stoked an intense price war among automakers and a subsequent cost reduction pressure on battery firms and other suppliers. Shares in Shenzhen-listed CATL dropped 15% so far this year, lagging a 6% drop in broader market (.CSI300).

Persons: Aly, Qiaoyi Li, Zhang Yan, Brenda Goh, Miyoung Kim Organizations: Amperex Technology, ., Auto, REUTERS, Rights, Electric, EV, Citi, China Automotive Battery Innovation Alliance, HK, LSEG, Ford, Thomson Locations: Auto Shanghai, Shanghai, China, Rights BEIJING, Michigan, U.S, Shenzhen

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