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Although he increased his price target to $150 from $130, the new price target is just around $2 higher from Tuesday's close price. — Fred Imbert 6:46 a.m.: Citi raises Roblox price target Citi is bullish on Roblox's long-term prospects in spite of some near-term rockiness. — Hakyung Kim 5:42 a.m.: Piper Sandler raises price target on Tesla Piper Sandler thinks Tesla may sell more vehicles than the firm previously expected. With this in mind, he raised his price target on Tesla shares to $310 from $300, signaling about 22% upside from Wednesday's close. TSLA YTD mountain TSLA year to date — Hakyung Kim 5:42 a.m.: Barclays upgrades Hewlett Packard Enterprise Rising demand for artificial intelligence servers will boost Hewlett Packard Enterprise shares, according to Barclays.

Persons: Piper Sandler, TD Cowen downgrades Expedia TD Cowen, Kevin Kopelman, Kopelman, EXPE, — Hakyung Kim, Morgan Stanley, Ford Morgan Stanley's Adam Jonas, Jonas, Ford, Fred Imbert, Jason Bazinet, we're, Bazinet, Roblox, Alex Straton, Straton, JPMorgan, Rodolfo Angele, Angele, Tesla Piper Sandler, Tesla, Alexander Potter, Potter, Hakyung Kim, Tim Long, HPE, Long Organizations: CNBC, Barclays, Hewlett Packard Enterprise, U.S, Ford Motor, GM, Citi, Nike, JPMorgan, Petrobras, Tesla, Hewlett, Enterprise, Juniper Networks Locations: China, U.S, Tuesday's, XLK

SHENZHEN, China — Chinese vendor Yin Xinwei sometimes makes close to $1,400 a day selling low-priced pill boxes, barbecue spits and other items to U.S. online consumers. Each year hundreds of millions of packages, mostly from Chinese platforms, are sent directly to American consumers eager to take advantage of rock-bottom prices on clothing, electronics and other products. That could mean painful times ahead for the Chinese sellers that supply the platforms — and higher prices for American consumers. Chinese state media has criticized the proposal as protectionist and say it will hurt American consumers. Yin used to sell to Chinese consumers but has given up his domestic business to focus entirely on the overseas market.

Persons: Yin, ”, ” Yin, David Townsend, Dorsey, Trump, Biden, ” Townsend, Temu, “, Jacky Lu, Shein, Eunice Yoon, Jennifer Jett Organizations: CNBC, Whitney, PDD Holdings, White, U.S . Customs, U.S Locations: SHENZHEN, China, Shenzhen, United States, U.S, Singapore, Boston, Hong Kong, Europe, “

☆ China's auto stocks rise unfazed by U.S. proposal to ban Chinese car parts
▼ + stars: | 2024-09-24 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Rows of new energy vehicles are parked at Changan Automobile's vehicle distribution center in Chongqing, China, on January 14, 2024. Shares of Chinese automakers climbed Tuesday, shrugging off a U.S. government proposal to ban certain types of vehicles equipped with car parts from China and Russia, amid a broad rally after Beijing announced policy easing. The Joe Biden administration has cited national security risks for its latest measure aimed at curbing Chinese auto industry's influence and reach in the U.S."Cars today have cameras, microphones, GPS tracking, and other technologies connected to the internet. U.S. proposal to ban Chinese auto parts may not have a direct negative impact on the Chinese auto industry as the sales volume of Chinese auto exports to the U.S. markets are "very small" and limited, Wu said. Additionally, Chinese parts companies have already set up factories in South America, which can be exported directly to U.S. markets under the U.S.-Mexico Tariff Agreement, he added.

Persons: shrugging, Li, Nio, Leapmotor, Joe Biden, Gina Raimondo, Ivan Wu, Pan Gongsheng, Wu Organizations: Beijing, Guotai, People's Bank of China Gov, U.S, China Automobile Dealers Association Locations: Chongqing, China, U.S, Russia, Hong Kong, South America, Mexico

The Chinese central bank's largest stimulus measures since Covid should provide the world's second-largest economy with a much-needed boost, which should help our portfolio companies doing business there. The Club has a broad range of companies with significant sales exposure to China, and some with none. Here's a look at the percentages in our 32 stock portfolio, as well as recent earnings call commentary, about the business climate and the potential in China. On the industrial side, DuPont has the most China exposure because of its electronics and water businesses. Eaton and Dover don't have nearly as much China exposure.

Persons: Donald Trump, Kamala Harris, Biden, Colette Kress, Tim Cook, Brian Niccol, Gamble, Andre Schulten, Peter Arduini, Lori Koch, Stanley Black, —, Jeff Marks, Jim Cramer's, Jim Cramer, Jim, Peng Organizations: People's Bank of China, Wall, Commodities, Republican, House, Democratic, Trump, Broadcom, Nvidia, AMD, Nvidia's, Apple, Starbucks, Investors, Huawei, Jefferies, Consumer, Procter, Barclays, GE Healthcare, GE, DuPont, Banking, Coterra Energy, Investing, Jim Cramer's Charitable, CNBC Locations: Asia, China, America, U.S, Eaton, Dover, People's Republic of China

☆ Japanese warplanes use flares to warn a Russian Il-38 spy plane to leave airspace
▼ + stars: | 2024-09-23 | by ( Story Associated Press | ) edition.cnn.com time to read: +2 min

Tokyo, Japan (AP) — Japan said its warplanes used flares to warn a Russian reconnaissance aircraft to leave northern Japanese airspace on Monday. It came a day after a joint fleet of Chinese and Russian warships sailed around Japanese northern coasts. Earlier in September, Russian military aircraft flew around southern Japanese airspace. The Chinese aircraft carrier Liaoning, accompanied by two destroyers, sailed between Japan’s westernmost island of Yonaguni and nearby Iriomote, entering close to Japan’s waters. According to Japan’s military, it scrambled jets nearly 669 times between April 2023 and March 2024, about 70% of the time against Chinese military aircraft, though that did not include airspace violations.

Persons: —, Minoru Kihara, Kihara, ” Kihara, Japan “, ” Organizations: Japanese, Russian, Soviet Union Locations: Tokyo, Japan, — Japan, Russian, Hokkaido, Russia, China, Liaoning, Japan’s, Yonaguni, Iriomote

☆ These big shipyards are China's shipbuilding power players and are cranking out new warships at a breakneck pace
▼ + stars: | 2024-09-21 | by ( Chris Panella | ) www.businessinsider.com time to read: +8 min

Read previewIt is no secret that China's shipbuilding capacity is unmatched on the world stage and that its shipyards are churning out new warships at a breakneck pace. China's shipbuilding industry has over 230 times the capacity of the US, according to recent estimates from the Office of Naval Intelligence, representing about 50% of the total global shipbuilding capacity. The shipyards building China's navyDalian is another significant Chinese shipyard and was site of production for the CNS Shandong aircraft carrier. The China Power Project at CSIS has carefully documented developments in Chinese shipbuilding, including work at the yards and new vessels. That push in military shipbuilding is propelled by China's political motivations and blue-water navy goals.

Persons: —, Brian Hart, Matthew Funaoile, It's, it's, Funaoile, Hart, Xi Jinping Organizations: Service, Business, of Naval Intelligence, Jiangnan Shipyard, Liberation Army's, Pentagon, US, PLAN, Shandong, China State Shipbuilding Corporation, Fujian, Wuchang Shipyard, Fujian Maritime Safety, Zhonghua Shipyard, China Power, Center for Strategic, International Studies, CSIS, Airbus, Getty, Communist Party, PLA Locations: Dalian, China, Huangpu Wenchong, Hong Kong, Jiangnan, Hudong, Shanghai, Bohai, Wuchang, Wuhan, Taiwan, Fujian, Zhonghua

☆ China-Mexico freight traffic surges in Trump, Biden tariff era, as companies find ways to evade U.S. trade war
▼ + stars: | 2024-09-20 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +16 min

Patrick T. Fallon | AFP | Getty ImagesNew data shows a surge in trade between China and Mexico at a time of tough tariff talk during the presidential campaign. This nearshoring of manufacturing enables companies to change a product's origin of goods, also referred to as the "economic nationality" of a product. Data from freight analytics firm Xeneta shows China to Mexico container trade up by 26.2% from January to July 2024, after growing by 33% in 2023. Mexico is also a member of the Pacific Alliance, a trade bloc formed by Mexico, Chile, Colombia, and Peru. "Bilateral tariffs should be expected to lead to trade diversion, and that's exactly what happened in the aftermath of the trade war.

Persons: Patrick T, Fallon, Jordan Dethwart, Mary Lovely, Anthony Solomon, Simon Cohen, Peter Sand, Donald Trump, Trump, John Piatek, Biden, Piatek, Lovely, Moody's, Elon Musk, Musk, Tesla, Sand, Charles Van der Steene, Van der, Mexico —, Freightos, Erica York, York, Tim Robertson, Ian Arroyo, Arroyo, Saul Loeb Organizations: El, El Paso Sector, AFP, Getty, U.S, Companies, Peterson Institute for International Economics, Henco Logistics, European Union, European Free Trade Area, Pacific Partnership, Pacific Alliance, GEP, Motive, BMW, Ford, GM, Kia, gigafactory, Volvo, Pirelli, Michelin North America, Hyundai, SFK USA, Maersk, Bureau of Transportation Statistics, CNBC, United, Pacific, Port, U.S ., ITS Logistics, Tax, DHL Global, Dana, Afp Locations: El Paso, Mexico, New Mexico, Chihuahua, Sunland Park , New Mexico, China, Redwood Mexico, United States, Canada, U.S, Japan, Israel, Latin America, Chile, Colombia, Peru, USA, propping, Laredo , Texas, El Paso , Houston, San Diego, Monterrey, Fremont , California, Austin , Texas, Americas, Mexican, Monterrey . Mexico, East, lading, Maersk North America, Tijuana, El Paso , Texas, Pacific Coast Port, Lazaro, Laredo, Monterrey , California, U.S . West, U.S . East, Gulf, West Coast, Asia, Mexico City, Warren , Michigan

☆ Here are Friday's biggest analyst calls: Apple, Tesla, Sunrun, FedEx, Reddit, Amazon, Nio, Capital One, Nike & more
▼ + stars: | 2024-09-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley upgrades Centessa Pharmaceuticals, to overweight from equal weight Morgan Stanley said in its upgrade of Centessa that it's bullish on the biopharma company's narcolepsy treatment. Morgan Stanley downgrades Pepsi to equal weight from overweight Morgan Stanley said it sees "topline softness." Morgan Stanley names Nio a research catalyst idea Morgan Stanley said it's bullish on Nio after the China electric vehicle company debuted its latest model, the L60. Morgan Stanley downgrades FedEx to underweight to from equal weight Morgan Stanley downgraded FedEx following its disappointing earnings report on Thursday. Morgan Stanley reiterates Sunrun as overweight Morgan Stanley said the solar company has more room to run and that it's long term bullish on the company's partnership with Costco.

Persons: Jefferies, Morgan Stanley, Morgan Stanley downgrades Pepsi, Key, it's bullish, Riley, Reddit, Nio, it's, Bernstein downgrades Darden, Bernstein, Olive, DRI, Morgan Stanley downgrades ASML, Wells, Susquehanna, Evercore, Sunrun, Tesla, Mercado Organizations: Duke Energy, Centessa Pharmaceuticals, Amkor, China, UBS, Apple, RBC, FedEx, Deutsche Bank, American Airlines Deutsche, Susquehanna, Darden, Costco, Bank of America, Citi, Nike, Mercado Libre, Clearway Energy Locations: Nio, tailwinds, Olive, Argentina

☆ Why EU tariffs are unlikely to dent Chinese EV makers' European expansion
▼ + stars: | 2024-09-20 | by ( Sonia Heng | In Sonia-Heng | ) www.cnbc.com time to read: +2 min

To make the European market unattractive for Chinese EV exporters, tariffs have to be as high as 50%, according to research group Rhodium. watch nowHe pointed out that the EU's tariffs were not as severe as those announced by North America because European and Chinese original equipment manufacturers are heavily interconnected. "It is a delicate balance to promote domestic European production without severely impacting their Chinese operations," McCabe said. Chinese EV makers are coming up with newer, cheaper offerings even as the EU strives to curtail imports via tariffs. At a conference in May this year, Chinese behemoth BYD announced its Dolphin model to the European market at less than $21,550.

Persons: Joseph McCabe, McCabe, behemoth BYD Organizations: Auto, Visual China, Getty, SAIC, EV, AutoForecast Solutions, U.S, Canada, EU, United Kingdom ., Tesla, Volkswagen Locations: Shenyang, Liaoning Province of China, Europe, BYD, North America, United Kingdom, China

☆ China seeks a homegrown alternative to Nvidia — these are some of the companies to watch
▼ + stars: | 2024-09-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

This has renewed focus on China's homegrown efforts to rival Nvidia and create semiconductors that can underpin the world's second-largest economy's own AI industry. Huawei then sells these chips as a part of servers that go into data centers to train AI models. Alibaba and BaiduAlibaba and Baidu both buy Nvidia chips but they are also designing their own semiconductors for AI processes. Inference is the process that follows the training of AI models, as it refers to the actual application of AI in the real world, such as a chatbot responding to user queries. Moore ThreadsMoore Threads, founded in 2020, is developing GPUs designed to train large AI models.

Persons: Paul Triolo, Albright Stonebridge, Baidu Alibaba, Wei Sun, Moore, KUAE, ByteDance Organizations: Istock, Getty, Nvidia, CNBC, Huawei Huawei, Huawei, Wall, Alibaba, Baidu, Counterpoint Research, Biren, Technologies, China Morning, Cambricon Technologies, U.S, Sequoia, GGV Locations: China, U.S, Beijing, Washington, Shenzhen, Biren's

☆ China and Russia are ramping up joint military drills. What’s their end goal?
▼ + stars: | 2024-09-17 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +11 min

China sent several warships and 15 aircraft to waters off Russia’s Far East coast for Ocean-2024, according to the Russian military. The latest Russia-China military drills fit a pattern of more than a decade of enhanced military coordination between the two countries, experts say. The joint drills also raise questions about whether the two nuclear-armed powers, which are not treaty allies, could act together in any potential future conflict. Russian military sailors attend the opening ceremony for a joint naval exercise in the South China Sea in July. But observers say that despite the growing coordination within joint drills, it’s unlikely there is a clear end goal past sending a strong signal – at least for now.

Persons: Vladimir Putin, Putin, Xi Jinping, Sergei Bobylev, Xi, ’, “ They’re, ”, Alexander Korolev, Washington’s, Carl Schuster, Korolev, it’s “, Elizabeth Wishnick, “, Russia –, James Char, Schuster Organizations: Hong Kong CNN, Kremlin, Canadian, Putin, NATO, Sputnik, Reuters, Soviet, Center for Strategic, International Studies, CNN, Russian, CSIS, University of New, US Navy, Pacific Command’s Joint Intelligence Center, Russian Defense Ministry, Beijing, South China, Pacific Security Affairs Division, CNA, India, Nanyang Technological University’s Institute of Defense, Strategic Studies, China, Navy Locations: China, Hong Kong, United States, Moscow, Russia, Ukraine, East, Ocean, Russian, Japan, Alaska –, South China, Beijing, Washington, Taiwan, Soviet Union, Communist China, Alaska, Pacific, University of New South Wales, Sydney, Asia, Germany, Philippines, South, Iran, lockstep, Nanyang, Singapore

☆ One of China's neighbors says it's pulled a key patrol vessel out of the South China Sea after a 5-month standoff
▼ + stars: | 2024-09-16 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Read previewThe Philippines has withdrawn one of its key patrol vessels from the South China Sea, where tensions with China have been growing in recent months. But, he added, its presence in the waters had been "further complicated by the structural damage to the vessel resulting from the deliberate ramming by the China Coast Guard on August 31, 2024." AdvertisementThe Teresa Magbanua has operated since April around Sabina Shoal — a disputed island in the South China Sea that has become a key flash point between the Philippines and China. Earlier this month, the Philippines' Rear Adm. Roy Vincent Trinidad told the Daily Tribune that the Teresa Magbanua had been outnumbered by more than 50 Chinese ships. China "has indisputable sovereignty over Xianbin Jiao and its adjacent waters," Liu Dejun, a spokesperson for China's Coast Guard, said, using the island's Chinese name.

Persons: —, Jay Tarriela, BRP Teresa Magbanua, Teresa Magbanua, Tarriela, Roy Vincent Trinidad, Lucas Bersamin, Xianbin Jiao, Liu Dejun, Teresa Magbanua's, Alexander Lopez, Lopez Organizations: Service, Coast Guard, BRP, Philippine Coast Guard, Business, China Coast Guard, South China, coastguard, Daily Tribune, National Maritime Council, Armed Forces, Guard, China's Coast Guard, Reuters, Sunday Locations: South China, China, Philippines, Sabina, South, Philippine, China's, Sabina Shoal, Xianbin

☆ Typhoon Bebinca: Shanghai slammed by what China says is the city’s strongest storm in seven decades
▼ + stars: | 2024-09-15 | by ( Nectar Gan | ) edition.cnn.com time to read: +3 min

The Joint Typhoon Warning Center (JTWC) said it packed top wind speeds of 130 kilometers per hour (80 mph), the equivalent of a Category 1 Atlantic hurricane. The administration on Monday issued a red typhoon warning, its most severe alert, warning of gale force winds, heavy rainfall and coastal floods in large swathes of eastern China. The typhoon is expected to quickly weaken into a tropical storm as it moves inland toward the west. Bebinca is the second major storm to hit China this month, following deadly Super Typhoon Yagi, the world’s second most powerful tropical cyclone so far this year. Shanghai is generally not in the direct path of strong typhoons, which typically make landfall further south in China.

Persons: Hong Kong CNN —, Bebinca, Yagi Organizations: Hong Kong CNN, Hong Kong CNN — Shanghai, Typhoon Warning, China Meteorological Administration, Shanghai, Shanghai Disney Resort, Disney, CCTV Locations: Hong Kong, China, Shanghai, Zhoushan, Zhejiang, Jiangsu, Bebinca, Hainan, Southeast Asia

☆ 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

☆ Shanghai slammed by Typhoon Bebinca, strongest storm to hit in seven decades
▼ + stars: | 2024-09-15 | by ( Nectar Gan | ) edition.cnn.com time to read: +1 min

Hong Kong CNN —Shanghai was brought to a standstill on Monday morning by what authorities say was the strongest typhoon to directly hit the Chinese financial hub in more than seven decades, with flights, trains and highways suspended during a national holiday. Typhoon Bebinca made landfall in an industrial suburb southeast of the metropolis of 25 million people around 7:30 a.m. local time. The Joint Typhoon Warning Center (JTWC) said it packed top wind speeds of 130 kilometers per hour (80 mph), the equivalent of a Category 1 Atlantic hurricane. The storm is the strongest to make landfall in Shanghai since 1949, according to Chinese state media. The China Meteorological Administration on Monday issued a red typhoon warning, its most severe alert, warning of gale force winds and heavy rainfall in large swathes of eastern China.

Persons: Hong Kong CNN —, Bebinca Organizations: Hong Kong CNN, Hong Kong CNN — Shanghai, Typhoon Warning, China Meteorological Administration, Shanghai Disney Resort Locations: Hong Kong, Shanghai, China

☆ During ‘China Week,’ House GOP revived surveillance program. Asian Americans are slamming it.
▼ + stars: | 2024-09-13 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +5 min

Asian American groups are sounding the alarm after the House this week passed a bill seeking to revive the highly controversial, Trump-era surveillance program the China Initiative. “Originally a Trump-era initiative sold as a national security measure, the China Initiative instead turned out to be a witch hunt,” leaders from civil rights groups Asian Americans Advancing Justice | AAJC, Stop AAPI Hate, and the Asian American Scholar Forum said in a joint statement. The groups added that the initiative devastated families and impeded the United States’ ability to retain and attract academic talent. Asian American advocacy groups have long been warning of the security program’s “chilling” effects. He said that he “concluded that this initiative is not the right approach.”For more from NBC Asian America, sign up for our weekly newsletter.

Persons: Lance Gooden, ”, Mike Johnson, Jeff Sessions, Gang Chen, Chen, ” Chen, “, Anming Hu, University of Tennessee —, China Initiative —, ” Hu, Biden, Matthew Olsen Organizations: China Initiative, Lawmakers, Trump, Justice, American, Forum, NBC News, Chinese Communist Party, ”, MIT, U.S . Capitol, Nanotechnology, University of Tennessee, White, of Justice, George Mason University, National Security Division, DOJ, NBC Asian Locations: China, U.S, States, Texas, NBC Asian America

☆ China fines PwC a record $62 million for its role in the Evergrande collapse
▼ + stars: | 2024-09-13 | by ( ) edition.cnn.com time to read: +3 min

Chinese regulators have hit PwC’s auditing unit in mainland China with a six-month business suspension and a record fine of 441 million yuan ($62 million) over the firm’s audit of troubled property developer China Evergrande Group. “PwC has seriously eroded the basis of law and good faith, and damaged investors’ interest,” said the China Securities Regulatory Commission in a statement. PwC Zhong Tian, the registered accounting entity and the main onshore arm of PwC in China, was the country’s top-earning auditor in 2022, according to the latest official data. The ministry also imposed a fine of 116 million yuan ($16 million) on PwC Zhong Tian for its auditing failure of Hengda in 2018, according to an MOF statement. The CSRC said in a separate statement that it had confiscated PwC Zhong Tian’s revenue involved in the Evergrande case totalling 27.7 million yuan and fined the unit 297 million yuan.

Persons: Zhong Tian, “ PwC, ”, PwC Zhong, Daniel Li, Hemione Hudson, CSRC, PwC Organizations: China Evergrande Group, Big, —, China Securities Regulatory Commission, China’s Ministry of Finance, Bank of China Locations: China, PwC, Hong Kong, New York

☆ Beijing suspends PwC's China unit for six months in record penalty over Evergrande audit
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: +5 min

Chinese regulators on Friday hit PwC's auditing unit in mainland China with a six-month business suspension and a record fine of 441 million yuan ($62 million) over the firm's audit of troubled property developer China Evergrande Group . "PwC has seriously eroded the basis of law and good faith, and damaged investors' interest," said the China Securities Regulatory Commission (CSRC) in a statement. PwC Zhong Tian, the registered accounting entity and the main onshore arm of PwC in China, was the country's top-earning auditor in 2022, according to the latest official data. "The cost is enormous in reputation, affecting the ability to get new business in China beyond the fine. PwC also deliberately excluded properties that Evergrande marked as "not allowed to visit" from audit samples, it added.

Persons: Zhong Tian, PwC, Gary Ng, PwC Zhong Tian, PwC Zhong, Daniel Li, Hemione Hudson, CSRC Organizations: China Evergrande Group, Big, China Securities Regulatory Commission, China's Ministry of Finance Locations: China, PwC, Asia, Pacific, Guangzhou, Hong Kong, New York

☆ For decades, Chinese workers have retired relatively early. That’s about to change
▼ + stars: | 2024-09-13 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —For decades, Chinese workers have wrapped up their working lives at relatively young ages: 60 for men and as early as 50 for women. The announcement sparked immediate widespread discussion – and backlash – across Chinese social media. Some social media users appeared encouraged that the changes weren’t more drastic and included some flexibility. Major protests erupted in France in 2023 in response to a government attempt to raise the retirement age from 62 to 64. Even for those of working age, employment remains a steep challenge following the pandemic and a raft of government-led industry crackdowns in recent years.

Persons: ”, Yuan Xin, Yuan, Demographers, It’s Organizations: Hong Kong CNN, Xinhua, Communist Party, Weibo, China Population Association, Nankai University, for Economic Co, Development, Social, Communist, Ministry of Civil Affairs, Chinese Academy of Social Sciences, Employers Locations: Hong Kong, Beijing, China, Tianjin, France, Communist China

☆ Russia and China's anti-US alliance is growing even more threatening
▼ + stars: | 2024-09-12 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

On Tuesday, the Russian military launched large-scale naval and air drills in the Sea of Japan alongside China. It's the second time in only three months that the powers have held joint military exercises, with drills held near the southern Chinese port of Guangdong in July. The joint exercises are taking place in the Sea of Japan and Sea of Japan and the Sea of Okhotsk. Some analysts, though, are pointing to tensions between Russia and China that could weaken the alliance. But for now, the alliance is growing closer, and Thomson said that the US will be watching the latest military exercises between Russia and China closely.

Persons: —, It's, Graeme Thomson, Vladimir Putin, Xi Jinping, Thomson, China's, Chels Michta Organizations: Service, Business, Russian Defense Ministry, Defense, AFP, China Power Project, Eurasia Group, Anadolu, Getty, NATO, Center for, Congressional, Pentagon, Royal United Services Institute Locations: China, Russia, Russian, Japan, Pacific, Baltic, Guangdong, Moscow, Beijing, Kremlin, Ukraine, South Korea, Sea, Okhotsk, Taiwan, Alaska, Anadolu, United States

☆ China’s secretive space plane has returned to Earth
▼ + stars: | 2024-09-12 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Here’s what we know – and don’t – about China’s space plane. The term “space plane” often evokes NASA’s Space Shuttle, which flew 135 missions from 1981 to 2011, carrying astronauts into orbit and helping to construct the International Space Station. Hulton Archive/Getty ImagesWhat do we know about China’s space plane program? China’s space plane development comes as a growing number of countries are paying attention to the deepening connections between security on Earth and in space – and vying for so-called counterspace technologies with the potential to disrupt or even destroy adversaries’ assets in space. But observers have also raised questions about the activities of the space plane, including its own deployment of multiple small satellites.

Persons: –, “ It’s, Chance Saltzman, NASA's, “, It’s, ”, Juliana Suess, Clayton Swope, Joe Skipper, Brendan Mulvaney Organizations: Hong Kong CNN, Boeing, Xinhua, Shuttle, Space, Space Force, Columbia, NASA's Kennedy Space Center, US Space Shuttle, Hulton, China Aerospace Science, Technology Corporation, Royal United Services Institute, Aerospace Security, Center for Strategic, International Studies, SpaceX, Earth, US Space Force, United, Foundation, China Aerospace Studies Institute, US Air Force Locations: China, Hong Kong, United States, Soviet, “, Florida, Xinjiang, London, Washington

☆ Megabus, Coach USA Bankruptcy: Wall Street Wrecked Discount Bus Option
▼ + stars: | 2024-09-11 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

Stagecoach Group, a UK-based travel company, first launched Megabus in the UK in 2003 and then brought it to the US in 2006. Along with Greyhound, Megabus became one of the two mega-carriers in the United States. The intercity bus industry is not in complete disarray, but things are not going great there. Bus industry insiders also note that they're often treated as an afterthought by policymakers even though they carry tens of millions of people each year. He emphasized that bus travel can be environmentally sustainable, too, compared to everyone driving their own cars or flying.

Persons: Megabus, Andrew Savikas, Peter Pan, John Stepovy, FlixBus, Joseph Schwieterman, Schwieterman, hadn't, Scott Michael, it's, Michael, Kai Boysan, BoltBus, Fred Ferguson, who's, Ferguson, It's, They've, They're, I'd, Wanderu, Stepovy, Emily Stewart Organizations: Coach USA, Equity, USA, Stagecoach Group, Greyhound, North America, DePaul University, Stagecoach, Fullington Trailways, US, United Motorcoach Association, FlixMobility, Flix, American Bus Association, Lake Holdings, Alden Global Capital, Atlantic City, Day, Labor, Business Locations: Los Angeles, Chinatown, Busbud, United States, Asia, Flix North America, Wanderu, Philadelphia, Dallas, Chicago, Cleveland, Boston, New York, FlixBus

☆ Portfolio Manager discusses the rotation trades within the China market
▼ + stars: | 2024-09-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPortfolio Manager discusses the rotation trades within the China marketGary Tan of Allspring Global Investments discusses why he was cautious of the rotation to dividend plays in China and says what looks like a rotation within Hong Kong-listed tech stocks shows the need for more positive news before domestic capital steps into the equity markets.

Persons: Gary Tan Organizations: Allspring Global Investments Locations: China, Hong Kong

☆ Stocks making the biggest moves midday: Ally Financial, Southwest Airlines, Oracle and more
▼ + stars: | 2024-09-10 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Mission Produce , Calavo Growers — Shares gained 20% after the avocado producer reported a year-over-year revenue increase of 24% for the fiscal third quarter. Calavo Growers advanced around 12% after the rival producer reported adjusted earnings of 57 cents per share in its fiscal third quarter. That is more than the 43 cents per share that analysts were expecting, according to FactSet. Oracle — Shares of the database software company surged more than 11% after a fiscal first-quarter beat on the top and bottom lines. For the fiscal second quarter, the company saw growth of 4% in preliminary consolidated same-store sales.

Persons: Russell Hutchinson, LSEG, Piper Sandler, Hewlett Packard, Rubrik, FactSet, Patterson, Gary Kelly, Bob Jordan, Alibaba, Daniel Pinto, — CNBC's Brian Evans, Samantha Subin, Lisa Kailai Han, Jesse Pound, Michelle Fox Organizations: Ally, Mission, Calavo, Calavo Growers, Oracle —, Oracle, Amazon Web Services, Hewlett Packard Enterprise, Hewlett, Juniper Networks, UTI, Southwest Airlines —, Elliott Investment Management, Hong, Reuters, JPMorgan Locations: U.S, Alibaba —, China, Hong Kong, Shanghai, Shenzhen

☆ Stocks making the biggest moves before the open: Apple, Oracle, Boot Barn, Mission Produce and more
▼ + stars: | 2024-09-10 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Mission Produce — The avocado producer surged 21.6% after reporting revenue for the fiscal third quarter jumped 24% from a year ago. The company reported sales of $324 million, compared with $261.4 million in the same three-month period one year before. Boot Barn — Shares rose 6% after the Western-style retailer provided an update on its recent performance ahead of a Piper Sandler Growth Frontiers Conference presentation. Boot Barn announced preliminary consolidated same-store sales growth of 4% in its fiscal second quarter. Johnson Controls International — Shares rose nearly 2% after JPMorgan upgraded the stock to buy from neutral.

Persons: Piper Sandler, LSEG . Patterson, Alibaba, Morgan Stanley, Wells Fargo, —, Samantha Subin, Sean Conlon, Lisa Kailai Han, Jesse Pound, Yun Li, Scott Schnipper Organizations: Growers, Oracle, LSEG, Apple, Hewlett Packard Enterprise, Juniper Networks, Revenue, UTI Energy, Hong, Reuters, Johnson, JPMorgan, Anheuser, Busch Inbev SA, Equity Locations: California, U.S, Alibaba —, China, Hong Kong, Shanghai, Shenzhen, Wells

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