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☆ Baidu's Ernie AI chatbot to power Samsung's new Galaxy S24 smartphones
▼ + stars: | 2024-01-26 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Samsung Electronics Co. Galaxy S24 smartphones during a media preview event in Seoul, South Korea, on Monday, Jan. 15, 2024. Samsung, the world's most prolific smartphone maker, is leaning into artificial intelligence as the key to unlocking greater sales this year. Photographer: SeongJoon Cho/Bloomberg via Getty ImagesBaidu AI Cloud will be integrating its Ernie chatbot into Samsung's Galaxy S24 smartphones, allowing users to translate calls in real time, among other features. Ernie is the Chinese tech giant's answer to OpenAI's ChatGPT, a chatbot powered by artificial intelligence technology that's able to generate humanlike responses to users' prompts. Baidu claims it is the "most powerful version of Ernie foundation model to date," with the full capabilities of understanding, generation, reasoning, and memory.

Persons: SeongJoon Cho, Ernie chatbot, Ernie, OpenAI's, Apple Organizations: Samsung Electronics Co, Samsung, Bloomberg, Getty, Baidu, Samsung's, Apple, IDC, Vivo, Huawei Locations: Seoul, South Korea, China

☆ Jim Cramer: If I were running a hedge fund, I would make these short-term trades on China's bank stimulus
▼ + stars: | 2024-01-24 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer said Wednesday that China's big monetary policy easing overnight to boost its economy and stock market presents investors with a short-term trading opportunity. This type of monetary policy stimulus is about giving banks more incentives to lend to kickstart the economy. But he said Wednesday that China's monetary policy move to reduce what banks must hold in rainy day funds could be the thing that helps the economy turn the corner. While the Club waits for its China-tied stocks to bounce back, Cramer said during Wednesday's Club meeting that he felt compelled to share the China trades. Club members can watch a replay of January's Monthly Meeting below : (Jim Cramer's Charitable Trust is long EL, SBUX, WYNN.

Persons: CNBC's Jim Cramer, Cramer, Goldman Sachs, It's, Estee Lauder, Jim Cramer's, WYNN Organizations: Baidu, PDD Holdings, CNBC, Club, Goldman, Wynn Resorts, Wednesday's Locations: U.S, China's, China

☆ JPMorgan and Morgan Stanley reveal their top U.S.-listed Chinese internet stocks
▼ + stars: | 2024-01-23 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Morgan Stanley and JPMorgan named their key China internet picks and the themes to watch right now. Focus is on resilient content leaders, unique growth opportunities, and AI enablers," Morgan Stanley said in a Jan. 18 note. Baidu Morgan Stanley described Baidu as the "best AI play" in China. Morgan Stanley pointed to its steady operating margin expansion and record-high subscription revenue growth in the second to third quarter of 2023. Morgan Stanley's price target is $150, or 67.7% potential upside.

Persons: Morgan Stanley, JPMorgan, Pinduoduo, Morgan, Baidu Morgan Stanley, Baidu, NetEase, — CNBC's Michael Bloom Organizations: JPMorgan, Alpha, Baidu Locations: China, United States

☆ Stock Market Today: Dow Slips 350 Points; Bank Earnings in Focus
▼ + stars: | 2024-01-16 | by ( ) www.wsj.com time to read: +1 min

Stocks turned lower Tuesday after a Federal Reserve official said the central bank could cut interest rates this year but that the process should be "carefully calibrated and not rushed." In Europe, pushback on imminent rate cuts from European Central Bank officials and news that the German economy shrank last year weighed on markets. An index of bank shares fell. Shares of leading U.S.-listed Chinese companies fell, with the Invesco Golden Dragon China exchange-traded fund down 3%. EV company Nio's ADRs were down 8%; Baidu, the owner of China’s largest internet search engine, and e-commerce giant JD.com slid about 4%.

Persons: Stocks, Dow industrials, Morgan Stanley, Goldman Sachs, Tesla, Elon Musk, Yemen's Houthi, Nio's ADRs Organizations: Federal Reserve, European Central Bank, PNC, Boeing, Shell, Benchmark, EV, Nio's, Baidu Locations: Europe, China

☆ China's premier tells Davos that innovation shouldn't be used to restrict other nations
▼ + stars: | 2024-01-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Li Qiang, China's premier, delivers a special address on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 16, 2024. Bloomberg | Bloomberg | Getty ImagesChinese Premier Li Qiang said that tech innovations should not be used as a way to restrict or contain other countries. "Scientific and technological fruits should benefit humanity as a whole, instead of becoming a means to restrict or contain the development of other countries," Li added, calling for "more open measures." watch nowFollowing his speech, Li spoke about the risks and opportunities of generative AI, such as ChatGPT, in a brief question-and-answer session with World Economic Forum Founder Klaus Schwab. Li met with Swiss President Viola Amherd ahead of the Davos conference and is set to visit Ireland later in the week.

Persons: Li Qiang, Li, Klaus Schwab, ChatGPT, ”, multilateralism, Viola Amherd Organizations: Economic, Bloomberg, Getty Images, Baidu, Swiss, Davos, Ireland, Monday Locations: Davos, Switzerland, Beijing, Washington, U.S, China, Swiss

HONG KONG (AP) — Technology company Baidu on Monday refuted a newspaper report that said its artificial intelligence chatbot Ernie was linked to Chinese military research. The paper stated that the division had tested its artificial intelligence system on Baidu’s Ernie and on artificial intelligence firm iFlyTek’s Spark, both of which are language-based AI chatbots similar to ChatGPT. “Ernie Bot is available to and used by the general public,” the Chinese company said in its statement. Like ChatGPT, users can pose questions or requests to Ernie Bot, which would then generate content based on the initial prompt. The Beijing-headquartered firm said in December that it had more than 100 million users for Ernie Bot.

Persons: Ernie, Baidu, Ernie Bot Organizations: — Technology, Baidu, Hong, China Morning, People’s Liberation Army cyberwarfare, PLA Information Engineering University, China Morning Post, PLA, Huawei, U.S Locations: HONG KONG, Hong Kong, U.S, China, Taiwan, Beijing

HONG KONG (AP) — Asian shares were mostly higher on Monday, with Tokyo extending its New Year rally, as China’s central bank kept its one-year policy loan interest rate unchanged. China’s central bank opted to keep its one-year policy loan interest rate at 2.5% on Monday while injecting funds into the financial system. Traders are largely betting on the Fed cutting its main interest rate six or more times through 2024. The airline and other travel-related companies were also hurt by a rise in oil prices, which put pressure on their fuel costs. A barrel of benchmark U.S. crude oil rose 10 cents to $72.78.

Persons: Zhaopeng Xing, Raymond Yeung, “, Ernie, Baidu, Lai Ching, Lai, Taiwan’s Taiex, Australia’s, It's, Yemen’s Houthi, Brent Organizations: ANZ, Baidu, Democratic Progressive Party, Dow Jones, UnitedHealth Group, Nasdaq, Federal Reserve, Treasury, Traders, Fed, Delta Air Lines, United Airlines, Cruise Line Holdings, U.S Locations: HONG KONG, Tokyo, Hong Kong, Shanghai, South Korea, China, Taiwan

☆ Hedge fund investor Dan Niles unveils his top picks for 2024, including Amazon and Meta
▼ + stars: | 2024-01-02 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Widely followed investor Dan Niles on Tuesday revealed his top stock picks for 2024, including one of 2023's top performers. The founder and senior portfolio manager of the Satori Fund selected two names from the so-called Magnificent Seven mega-cap tech stocks as his favored shares for the new year — Amazon and Meta Platforms . META 1Y mountain Meta shares 1-year chart ETFs The hedge fund investor is also bullish on SPDR S & P Biotech ETF (XBI), which tracks more than 120 biotech companies. The investor said the top holdings in KWEB — Baidu , Alibaba and Tencent — are so much cheaper than mega-cap names in the Magnificent Seven. "You can buy them at 13 times P/E off 24 numbers for comparison, The Magnificent Seven, you're paying 34 times," he said.

Persons: Dan Niles, Satori, Niles, Apple, they're, we've Organizations: Satori Fund, Apple, Barclays, CNBC, Meta, P Biotech, KraneShares CSI China Internet, Baidu

☆ Baidu’s live streaming plans suffer as it calls off $3.6 billion Joyy deal
▼ + stars: | 2024-01-01 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Baidu’s bid to expand its live streaming business in China and diversify its revenue has suffered a blow with the collapse of a planned $3.6 billion acquisition. The Chinese tech giant announced Monday that one of its affiliate companies had terminated a 2020 agreement with Nasdaq-listed Joyy (YY), the owner of popular live streaming platform YY Live. Baidu CEO Robin Li said at the time that the acquisition would “catapult Baidu into a leading platform for live streaming and diversify our revenue source.”Like other live streaming platforms in China, YY Live makes money from users who buy virtual gifts for performers. Live streaming revenues fell by nearly 9% to $495.8 million. But as China’s economic outlook deteriorates, Beijing has shown signs of easing the crackdown, frequently talking up tech companies’ role in the economy.

Persons: London CNN —, ” Joyy, “, Robin Li, Joyy Organizations: London CNN, Nasdaq, Baidu, Hong Kong Stock Exchange, Big Tech Locations: China, , Beijing

☆ Japanese tech giant Rakuten plans to launch proprietary AI model
▼ + stars: | 2023-12-11 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Hiroshi "Mickey" Mikitani said the company is working on its own large language model, or LLM. Japan's Rakuten plans to launch its own proprietary artificial intelligence language model, its CEO told CNBC in an interview that aired Monday. The company plans to use the AI model internally to improve operational efficiency and marketing by 20%, Mikitani said. Telecommunications group NTT announced this month that its proprietary LLM will be available in March. Clarification: This story has been updated to clarify that a spokesperson from Rakuten says there is no timeline for the launch of its proprietary AI model.

Persons: Rakuten, Hiroshi, Mickey, Mikitani, Japan's Rakuten, SoftBank Organizations: Mobile, CNBC, Microsoft, Google, U.S ., Baidu, Telecommunications, NTT Locations: U.S, China, Rakuten

☆ Microsoft's president meets with the Chinese government to discuss AI co-operation
▼ + stars: | 2023-12-07 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Cezaro De Luca | Europa Press | Getty ImagesMicrosoft President Brad Smith met with China's Minister of Commerce Wang Wentao on Wednesday to discuss topics ranging from artificial intelligence to trade relations between Washington and Beijing, according to a Youdao-translated Chinese government announcement. The meeting underscores China's attempt to show it remains favorable to American businesses amid continued tensions with the U.S., as it looks to reinvigorate its economy. China's own technology giants — from Alibaba to Baidu and Tencent — have also been launching their own AI models and rival products. Washington has sought to restrict China's access to key technologies such as semiconductors, and U.S. export curbs recently targeted chips from Nvidia, which are used to train artificial intelligence models. During the Biden and Xi meeting, the two leaders "affirmed the need to address the risks of advanced AI systems and improve AI safety through U.S.-China government talks," according to a White House readout.

Persons: Brad Smith, Cezaro De Luca, Commerce Wang Wentao, Smith, Joe Biden, Xi Jinping, Wang, Xi Organizations: Europa Press, Getty, China's, Commerce, U.S, Ministry, Microsoft, Baidu, Technology, Nvidia, Biden Locations: Madrid, Spain, Washington, Beijing, China, U.S, Alibaba

☆ China issues safety guidelines for autonomous public transport vehicles
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

[1/2] Baidu's Apollo car with an autonomous driving system, which serves for self-driving taxi services, is seen at the Shougang Industry Park in Beijing, China July 30, 2021. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Dec 5 (Reuters) - China on Tuesday issued safety guidelines for the use of autonomous vehicles in public transport, the latest in a series of measures preparing for the increased use of driverless cars. The guidelines apply to autonomous vehicles for passengers including taxis as well as for freight transportation, the Ministry of Transport said in a statement. They also require companies using autonomous vehicles for public transport to be qualified and licensed and state that companies can work together with automakers on such operations. In October, it issued guidelines for highway engineering facilities to support autonomous driving technology.

Persons: Tingshu Wang, Albee Zhang, Zoey Zhang, Brenda Goh, Christopher Cushing Organizations: REUTERS, Rights, Ministry of Transport, Thomson Locations: Beijing, China, Rights BEIJING

The New York Stock Exchange (NYSE) in New York City, U.S., February 24, 2022. "Presently, the markets price in around a 125bp (basis points) cut from the Fed next year," Ipek Ozkardeskaya, senior market analyst at Swissquote Bank, said in a note. Investors will also parse data on U.S. services sector activity from S&P Global and the Institute for Supply Management on Tuesday. ET, Dow e-minis were down 115 points, or 0.32%, S&P 500 e-minis were down 20 points, or 0.44%, and Nasdaq 100 e-minis were down 103 points, or 0.65%. Reporting by Amruta Khandekar and Shristi Achar A; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Caitlin Ochs, Ozkardeskaya, Amruta Khandekar, Pooja Desai Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Fed, Swissquote Bank, Labor Department, P Global, Institute for Supply Management, Nvidia, Dow e, CVS, PDD Holdings, Baidu, Thomson Locations: New York City, U.S

☆ IBM shows new quantum computing chip, targeting 2033 for large systems
▼ + stars: | 2023-12-04 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

International Business Machines’ (IBM) Quantum System Two computer containing three "Heron" processors is seen in this undated handout photo. Courtesy of International Business Machines/Handout via REUTERS/File Photo Acquire Licensing RightsDec 4 (Reuters) - International Business Machines (IBM.N) on Monday showed a new quantum computing chip and machine that it hopes will serve as the building blocks of much larger systems a decade from now. Researchers around the world are trying to perfect quantum computing, which relies on quantum mechanics to reach computing speeds far faster than classical silicon-based computers. The challenge has been to create quantum computers that are reliable enough in the real world to consistently beat conventional computers. Microsoft (MSFT.O), Alphabet's Google (GOOGL.O) and China's Baidu (9888.HK), along with startups and nation states, are all racing to develop quantum machines.

Persons: Baidu, Dario Gil, IBM's, " Gil, it's, Stephen Nellis, Diane Craft Organizations: Machines, IBM, Business Machines, REUTERS, Microsoft, Google, HK, Reuters, Thomson Locations: San Francisco

☆ TikTok's owner is working on a rival chatbot builder to OpenAI, a new report says
▼ + stars: | 2023-12-04 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

ByteDance is launching a chatbot-building service to rival OpenAI, per the South China Morning Post. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementByteDance is joining the AI arms race as it reportedly prepares to launch a rival to OpenAI's "GPTs." ByteDance did not immediately respond to a request for comment from Business Insider made outside normal working hours.

Persons: OpenAI, —, Sam Altman, ByteDance Organizations: China Morning, Service, South China Morning, South China Morning Post, Baidu, Business Locations: Silicon, Montana

☆ Portfolio manager explains why he has the ‘most conviction’ in this China tech stock
▼ + stars: | 2023-11-27 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

One tech giant, however, stands out to portfolio manager Brian Arcese: e-commerce player JD.com . JD.com "is on a 10% free cash flow yield [and is] continuing to grow earnings," Arcese, a portfolio manager at Foord Asset Management, told CNBC Pro Talks on Nov. 21. Around 10% of Foord Asset Management's multi-asset portfolio is currently invested in China. Additionally, some 25% of its global equity portfolio is invested in China for 2024, which Arcese notes is "massive relative to the benchmark" — which only has a 2.5% exposure to China. Meanwhile, 47 analysts have coverage of the JD.com Nasdaq-listed stock, according to FactSet.

Persons: Brian Arcese, Arcese Organizations: Baidu, JD.com, Foord Asset Management, CNBC, Nasdaq, JD, HK, Hong Kong Locations: Singapore, China, U.S, JD.com, Hong Kong

The California-based AI chip giant had been expected to launch the new products as early as Nov. 16, chip industry newsletter SemiAnalysis reported this month. However, the H20 launch has now been pushed back until the first quarter of next year, the sources said, with one saying they were advised it could take place in February or March. In addition to the H20, Nvidia has been planning two other chips to comply with new U.S. export rules - the L20 and L2. The sources said the L20 was not facing delays and would launch according to its original schedule. Chinese internet giant Baidu (9888.HK) placed a sizeable order for Huawei AI chips this year, Reuters reported this month citing sources.

Persons: Dado Ruvic, Baidu, Fanny Potkin, Yelin, Brenda Goh, Jamie Freed Organizations: NVIDIA, REUTERS, Rights, Nvidia, Huawei, U.S, Baidu, HK, Reuters, Thomson Locations: Rights SINGAPORE, BEIJING, China, The California, U.S, Singapore, Yelin Mo, Beijing, Shanghai

☆ Alibaba, Baidu and more: Jefferies names Asian stocks with significant 'hidden value'
▼ + stars: | 2023-11-23 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Asian stock markets may have had a weak year, but excessive cash in the region's companies is a hidden opportunity for investors, according to Jefferies. Asian ex-cash P/E is just 9.1 times, indicating "significant value," Jefferies' analysts noted. The region's stocks are also "appealing from the shareholder return perspective," given stronger prospects of buybacks backed by free cash flows and high cash balances, they wrote. Jefferies screened for Asian companies with "significant ex-cash value and strong fundamentals," and which it said make "good candidates" for buybacks and dividends. Other Asian stocks that made Jefferies' list include Singapore's transport company ComfortDelGro and Indian oil and gas company Petronet .

Persons: Jefferies, JD.com, iPhones, — CNBC's Michael Bloom Organizations: MSCI HK, Baidu, China Communications Services, Qingdao Port International, Energy, Vipshop Holdings, Technology, Singapore South, Kia, Hyundai, Orion Corp Locations: Asia, Pacific, Japan, China, Qingdao, South Korea, Australia, Singapore, Singapore South Korean

☆ Alibaba's stock dropped so much that Jack Ma reversed a plan to sell shares for his other investments
▼ + stars: | 2023-11-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Alibaba cofounder Jack Ma walked back on plans to sell the company's stock. The Chinese tech giant's stock crashed last week after it nixed a plan to spin off its $11 billion cloud business. AdvertisementAlibaba cofounder Jack Ma reversed plans to sell the company's stock following a slump in its stock price last week. The company's stock sank in response, wiping out $26 billion in value over two days. But Ma isn't selling the stock since its current value is lower than its actual value, she said in the memo.

Persons: Jack Ma, —, Alibaba, Ma, Jane Jiang Fang, Jiang, Ma's Organizations: Service, Reuters, Bloomberg, South China Morning, Big Tech, Baidu, Business Locations: Beijing, China, —

☆ Futures drift lower as Nvidia results, Fed minutes loom
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +3 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Big Tech stocks, which have powered most of the S&P 500's gains this year, now face an important test with Nvidia due to report third-quarter results after markets close. Before the quarterly report, minutes of the Fed's November meeting are likely to offer more cues on the monetary policy path after evidence of slowing inflation boosted expectations that U.S. interest rates had peaked. ET, Dow e-minis were down 51 points, or 0.14%, S&P 500 e-minis were down 4.75 points, or 0.1%, and Nasdaq 100 e-minis were down 4 points, or 0.02%. Among other stocks, U.S.-listed shares of Baidu gained 2% as China's biggest internet search engine provider's third-quarter revenue beat estimates.

Persons: Brendan McDermid, Stuart Cole, Cole, Amruta Khandekar, Ankika Biswas, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Big Tech, Nvidia, Equiti, Traders, Dow e, Baidu, Thomson Locations: New York City, U.S, China

Revenue for the quarter ended Sept. 30 was 34.45 billion yuan ($4.72 billion), compared with analysts' estimates of 34.33 billion yuan, according to LSEG data. Baidu has in recent years focused increasingly on AI, creating a self-driving vehicle and investing heavily in generative AI, which is capable of creating text, images and other media. Baidu's Chief Financial Officer Rong Luo said the firm will continue to prioritise AI investments, especially in generative AI and foundation models, to power its growth. Baidu's online marketing revenue rose 5% in the third quarter to 19.7 billion yuan. During the quarter, Baidu reported adjusted net income of 7.27 billion yuan, up 23% from 5.89 billion yuan for the same period last year.

Persons: Tingshu Wang, Ernie, Rong Luo, Luo, Alibaba, Yuvraj Malik, Varun H, Miral Fahmy, Sharon Singleton Organizations: Baidu, REUTERS, HK, Tuesday, International Monetary Fund, Nvidia, Reuters, Huawei, Thomson Locations: Beijing, China, Washington, Bengaluru, Yelin Mo

☆ Stocks making the biggest moves before the bell: Lowe's, Dick's, Best Buy, Kohl's and more
▼ + stars: | 2023-11-21 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Lowe's — The home-improvement retailer dropped 3.9% after cutting its sales outlook for the full year. Lowe's also missed analyst expectations for revenue in the third quarter, as sales slid 13% year over year. Best Buy — Shares of the consumer electronics retailer fell 5.9% after the company cut its full year sales outlook in an effort to prepare for price-conscious holiday shoppers. Best Buy beat Wall Street's quarterly earnings expectations, but fell short on revenue. Kohl's lowered the low end of its full year same-store sales outlook.

Persons: Lowe's, Kohl's, Medtronic, LSEG, Oppenheimer, Goldman Sachs, Goldman, Morgan Stanley, Cloudflare, Macheel, Sarah Min, Michelle Fox, Yun Li, Jesse Pound Organizations: Dick's, Goods, American Eagle Outfitters, Burlington Stores, Baidu, Wall, LSEG, Gen, — Locations: Burlington

☆ Stocks making the biggest moves midday: Amazon, Medtronic, American Eagle, Lowe's, C3.ai and more
▼ + stars: | 2023-11-21 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Kohl's — Shares dropped more than 9% after the retailer reported weaker-than-expected revenues for the third quarter. American Eagle Outfitters — The apparel retailer sank 16% after its operating income guidance for the full year came in weaker than expected. C3.ai — Shares of the artificial intelligence software company added 3.4% in midday trading following an upgrade to outperform from Oppenheimer. Baidu reported 34.45 billion yuan for the quarter, surpassing the consensus estimate of 34.33 billion yuan from analysts polled by LSEG. Lowe's — Shares of the home improvement retailer dipped 2.7% after Lowe's reported softer-than-expected revenue for the third quarter .

Persons: CNBC's David Faber, Jeff Bezos, Faber, Medtronic, Kohl's, Timothy Horan, Fitch, — CNBC's Brian Evans, Alex Harring, Jesse Pound, Tanaya Macheel, Sarah Min Organizations: Amazon, Burlington, LSEG, Eagle Outfitters, Oppenheimer, Baidu, VMWare, Broadcom, Dick's, Goods, Abercrombie, Technologies, Agilent Technologies Locations: Burlington

☆ Chinese tech giant Baidu's shares rise 2% after revenue beat
▼ + stars: | 2023-11-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Chinese tech giant Baidu reported Tuesday third-quarter revenue that beat expectations, although growth was slower than during the previous three months. Revenue grew by 6% year-on-year to 34.45 billion yuan ($4.72 billion) in the quarter that ended Sept. 30. Online marketing revenue at the search engine provider was up by 5% from a year ago, while non-online marketing revenue was 6% higher over the same period. It comes after revenue in the previous quarter surged 15% from a year ago, with online and non-online marketing revenue growing by double digits. "Baidu reported solid third-quarter financial results, demonstrating resilience in a challenging economic climate," Robin Li, Baidu CEO and co-founder of Baidu, said in a release.

Persons: Robin Li Organizations: Baidu, Revenue Locations: Beijing, China, BEIJING, U.S

Passersby wait at a crossing in front of an electronic board showing Japan's Nikkei average outside a brokerage, in Tokyo, Japan, March 17, 2023. REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsNov 21 (Reuters) - A look at the day ahead in Asian markets from Alden Bentley, U.S. The benchmark S&P 500 (.SPX) is now less than 2% away from its highest level this year that was reached in July. There are few potential U.S. market moving events this week, besides Tuesday's day early release of the minutes from the Federal Open Market Committee's last meeting. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Androniki, Alden Bentley, Satya Nadella, Sam Altman Organizations: Nikkei, REUTERS, Breaking, Finance, Markets, Reuters, Microsoft, Treasury, Fed, Federal, Reserve Bank of Australia, Bank Indonesia, Kuaishou Technology, Tongcheng Travel, Alden Bentley Our, Thomson Locations: Tokyo, Japan, Alden, U.S, Asia

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