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☆ Tesla stock falls after cutting prices in China again
▼ + stars: | 2023-08-15 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Tesla is back to cutting prices in China, and investors don’t seem happy about it. The manufacturer announced a significant discount for its Model Y in China on Monday, saying two models would be discounted by 14,000 yuan ($1,929) effective immediately. The price cuts, Tesla’s first since January, reflect rising competition in China, particularly within its fast-moving electric vehicle sector. Tesla slashed prices several times in China between October and January after losing market share. In May, the company had reversed course, hiking prices globally, with the biggest increase made in China.

Persons: Hong Kong CNN — Tesla, don’t, Tesla’s, ”, Warren Buffett, Tesla, Elon Musk Organizations: Hong Kong CNN, Tesla’s, HSBC, CNN, China Passenger Car Association, Tesla, Analysts Locations: Hong Kong, China, New York, Shanghai

☆ Many young unmarried couples don’t split costs equally. Experts weigh in on what's 'fair'
▼ + stars: | 2023-08-15 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

Millennial couples are more likely to live together, with 65%, versus 37% of Gen Z couples. More than half of couples, 54%, said finances were part of their decision to move in together. Half of couples don't split the mortgage or rent equally, and 39% do not split pet costs equally, the survey found. Experts say the survey results underscore that when it comes to sharing expenses, equal isn't always equitable, or fair. "I think it's almost not fair to split finances 50-50 without taking into account your partner's financial situation," said Daigle, who is also a member of the CNBC Financial Advisor Council.

Persons: Gen Z, Michael Kraus, Cathy Curtis, Curtis, Sophia Bera Daigle, Daigle, Carli Blau, Blau, Kraus, Couples Organizations: Istock, Getty, of Psychology, Finance, Yale University, Curtis Financial, CNBC, Society Locations: U.S, Oakland , California, Austin , Texas, New York

☆ Your Clothes Don’t Fit. Here’s Why. - The New York Times
▼ + stars: | 2023-08-15 | by ( Elizabeth Endicott | ) www.nytimes.com time to read: +3 min

I know exactly where I can find a perfect dress that fits me well and makes me feel great. In “Butts: A Backstory,” the journalist Heather Radke explored the garment industry’s history of trying and failing to standardize sizing for women’s bodies. “Bodies are bespoke, and most clothes made since the 1920s are mass-produced industrial products,” Ms. Radke wrote. While men’s sizing utilizes inches in a straightforward manner, with measurements like inseam and chest, women’s sizes have no consistency from one brand to another. Professor Abigail Glaum-Lathbury of the School of the Art Institute of Chicago put it to Ms. Radke very simply: “Unless your clothes are made for you, they don’t actually fit.”

Persons: toots, —, they’ve, Plunkett, “ Butts, Heather Radke, Ms, Radke, ” Radke, Abigail Glaum Organizations: Plunkett Research, School of, Art Institute of Chicago Locations: Instagram

The rally in the chipmaker's stock pushed the information technology index (.SPLRCT) 1.85% higher, making it the strongest of 11 S&P 500 sector indexes. The S&P 500 climbed 0.58% to end the session at 4,489.72 points. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 1.1-to-one ratio. The S&P 500 posted 8 new highs and 11 new lows; the Nasdaq recorded 50 new highs and 192 new lows.

Persons: Tesla, Morgan Stanley, Jay Hatfield, Brendan McDermid, Goldman Sachs, Alex Chriss, Amruta Khandekar, Saeed Azhar, Arun Koyyur, Maju Samuel, David Gregorio Our Organizations: Nvidia, China AMC, Nasdaq, Dow, Chipmaker Micron Technology, Dow Jones, Infrastructure Capital Advisors, NVIDIA, Walmart, New York Stock Exchange, REUTERS, Traders, Fed, PayPal Holdings, Intuit, AMC Entertainment, Hawaiian Electric Industries, Thomson Locations: China, New York, New York City, U.S, Delaware, Maui, Lahaina, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Nvidia's (NVDA.O) gain pushed the information technology index (.SPLRCT) higher, making it the strongest of 11 S&P 500 sector indexes. Other megacap growth stocks including Alphabet (GOOGL.O), and Amazon.com (AMZN.O) also posted gains, as did chipmaker Micron Technology (MU.O). According to preliminary data, the S&P 500 (.SPX) gained 26.28 points, or 0.59%, to end at 4,490.33 points, while the Nasdaq Composite (.IXIC) gained 143.81 points, or 1.05%, to 13,788.66. The Nasdaq and S&P 500 fell last week after hotter-than-expected U.S. producer prices data fanned concerns that the Federal Reserve could keep U.S. interest rates higher for longer.

Persons: Brendan McDermid, Tesla, Morgan Stanley, Jay Hatfield, Goldman Sachs, Alex Chriss, Amruta Khandekar, Saeed Azhar, Arun Koyyur, Maju Samuel, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, China AMC, Nasdaq, Nvidia, Micron Technology, Dow Jones, Infrastructure Capital Advisors, NVIDIA, Federal Reserve, Walmart, Traders, Fed, PayPal Holdings, Intuit, AMC Entertainment, Hawaiian Electric Industries, Thomson Locations: New York City, U.S, China, New York, Delaware, Maui, Lahaina, Bengaluru

☆ Tesla cuts prices in China for select Model Y versions
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

Companies Tesla Inc FollowBEIJING, Aug 14 (Reuters) - Tesla (TSLA.O) on Monday said it has cut prices in China for its Model Y long-range and performance versions starting on Aug. 14, sending its shares lower on concern of further pressure on its profit margins. The electric-car company reduced the starting prices of both models by 14,000 yuan ($1,934.58). The Model Y Long Range's starting price drops 4.5% to 299,900 yuan and the starting price of the Model Y Performance is now 349,900 yuan, down 3.8%. Visitors wearing face masks check a China-made Tesla Model Y sport utility vehicle (SUV) at the electric vehicle maker's showroom in Beijing, China January 5, 2021. Last month, Tesla CEO Elon Musk said further price cuts were a possibility, even if it squeezed the automaker's margins.

Persons: Tesla, Chris McNally, Tingshu Wang, Elon Musk, Liz Lee, Samrhitha Arunasalam, Akash Sriram, Christian Schmollinger, Tom Hogue, Sharon Singleton Organizations: Tesla Inc, BEIJING, REUTERS, Deutsche Bank, Tesla's, China Passenger Car Association, Shanghai, Thomson Locations: China, U.S, Europe, Beijing, United States, Tesla's China, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Hotter-than-expected U.S. producer prices data last week fanned concerns that the Federal Reserve could keep interest rates higher for longer, driving up U.S. Treasury yields and weighing on rate-sensitive big technology and growth stocks. Market focus will be on quarterly earnings from major U.S. retailers including Walmart (WMT.N) and Target (TGT.N) this week. Economic data expected includes retail sales for July as well as industrial production and jobless claims numbers. ET, Dow e-minis were up 59 points, or 0.17%, S&P 500 e-minis were up 8 points, or 0.18%, and Nasdaq 100 e-minis were up 41.5 points, or 0.27%.

Persons: Brendan McDermid, Tesla, We've, Peter Cardillo, treasuries, Goldman Sachs, Amruta Khandekar, Arun Koyyur, Maju Samuel Organizations: New York Stock Exchange, REUTERS, China AMC, Dow, Nasdaq, Federal Reserve, U.S, Treasury, Investors, Spartan Capital Securities, Microsoft, Apple Inc, Fed, Walmart, Dow e, AMC Entertainment, Nikola, U.S . Steel, Thomson Locations: New York City, U.S, China, Delaware, Cleveland, Bengaluru

☆ Tesla cuts prices in China for some Model Y versions
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File PhotoCompanies Tesla Inc FollowBEIJING, Aug 14 (Reuters) - Tesla Inc (TSLA.O) has cut prices in China for its Model Y long-range and performance versions starting on Aug. 14, the company said in a notice on Monday. The car company dropped the starting prices of both models by 14,000 yuan ($1,934.58). The Model Y Long Range's starting price drops 4.5% to 299,900 yuan and the starting price of the Model Y Performance is now 349,900 yuan, down 3.8%. Last month Tesla CEO Elon Musk said further price cuts were a possibility, even if it squeezed the automaker's margins.

Persons: Arnd, Tesla, Elon Musk, Liz Lee, Christian Schmollinger, Tom Hogue Organizations: REUTERS, Inc, BEIJING, Tesla Inc, Tesla's, China Passenger Car Association, Shanghai, Thomson Locations: Bern, Switzerland, China, United States, Tesla's China

☆ Stocks making the biggest moves before the bell: U.S. Steel, Tesla, Urban Outfitters and more
▼ + stars: | 2023-08-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Workers replace a roller that compresses steel at the A&T Stainless steel plant in Midland, Pennsylvania, March 2, 2020. U.S. Steel — Shares of the steel producer surged more than 26% premarket after it rejected a $7.3 billion buyout proposal on Sunday from rival Cleveland-Cliffs and said it's reviewing "strategic alternatives." Goldman Sachs upgraded shares of Okta to a buy rating, citing a favorable risk reward and expectations for an inflection in subscription revenues. Urban Outfitters — The clothing retailer shed 2.5% following a downgrade by Citi to neutral from buy. The Urban Outfitters brand will be slower to turn around, ultimately limiting possible upside to earnings per share, the firm wrote.

Persons: Tesla, Okta, Goldman Sachs, Wells Fargo, Parsons, Nikola —, Samantha Subin, Hakyung Kim, Sarah Min, Tanaya Macheel, Michelle Fox Organizations: &, . Steel, Weibo, Technologies, Bank of America, Outfitters, Citi, Urban Outfitters, Parsons Corporation, Hollywood, Nikola Locations: Midland , Pennsylvania, Cleveland, China, Okta, underperform

☆ Morning Bid: China property troubles plague Asia stocks
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Wayne Cole. Core inflation actually doubled to 0.8% y/y and the drop in consumer prices was largely driven by year-ago volatility in pork prices. That puts the focus on retail sales on Tuesday where a rise of 4.7% is forecast, though a wide range of estimates from +2.8% to +10.8% suggests a surprise is possible. The same goes for U.S. retail sales on Tuesday where the median is for a 0.4% increase, but BofA is tipping 0.7% based on credit and debit spending in the month. The dollar is also flying on the Aussie and kiwi and a range of emerging Asian currencies, which are being dumped as proxies for China risk.

Persons: Wayne Cole, It's, it's, Jacqueline Wong Organizations: Bank of Japan, Thomson Locations: Wayne, Asia, China, Beijing

☆ ‘Sigue tu pasión’ podría ser un mal consejo
▼ + stars: | 2023-08-14 | by ( Alina Tugend | ) www.nytimes.com time to read: +1 min

“La gente empieza a considerar el trabajo como simplemente un trabajo y esa es una buena señal”. Antes de la década de 1970, la pasión no era una prioridad para quienes buscaban trabajo, aseveró Cech, autora de The Trouble With Passion: How Searching for Fulfillment at Work Fosters Inequality. Lo importante era tener un sueldo decente, horarios y seguridad laboral y, si había satisfacción, llegaba más tarde, a medida que adquirías más destreza en el trabajo. Eso empezó a cambiar en la década de 1970, con la creciente inestabilidad laboral de los profesionales y un énfasis cultural cada vez mayor en la autoexpresión y la autosatisfacción, un cambio plasmado en el muy popular libro de 1970 ¿De qué color es tu paracaídas? En particular, preocuparte por si el trabajo te va a satisfacer aplica sobre todo al privilegiado mundo de los oficinistas.

☆ Using a Credit Card? At These Restaurants It’ll Cost You.
▼ + stars: | 2023-08-14 | by ( Christina Morales | More About Christina Morales | ) www.nytimes.com time to read: +1 min

Then he took a closer look at his statements and found that he was paying $2,000 a month in credit card fees. “They pile fees on top of fees, on top of fees,” Mr. Theoktisto said about credit card processing companies. In January, he decided that instead of raising prices, he would add a 4 percent convenience fee to the bills of customers who pay by credit card. He is just one of an increasing number of restaurant owners adopting these policies as inflation cuts into his bottom line and credit card fees rise. Arepas about seven years ago near Troy, N.Y., the number of customers using electronic payments has increased from 50 percent to 90 percent.

Persons: José Theoktisto, ” Mr, Theoktisto Locations: New York, Troy, N.Y

U.S.-listed shares of Chinese companies also fell, with Alibaba , Baidu Inc and Nio Inc down between 2% and 6%. Economic data expected includes retail sales for July as well as industrial production and jobless claims numbers to gauge the direction for U.S. interest rates. Investors are basically staying on the sidelines until we get the economic news of the week," said Peter Cardillo, chief market economist at Spartan Capital Securities. AMC Entertainment common shares (AMC.N) fell 39.2% after a Delaware judge approved the theater chain's revised stockholder settlement on Friday. The S&P index recorded three new 52-week highs and six new lows, while the Nasdaq recorded 27 new highs and 93 new lows.

Persons: Brendan McDermid, Tesla, We've, Peter Cardillo, Alex Chriss, advancers, Amruta Khandekar, Arun Koyyur, Maju Samuel Organizations: New York Stock Exchange, REUTERS, China AMC, Dow, Nasdaq, Tesla, Alibaba, Baidu Inc, Nio Inc, Walmart, Federal Reserve, U.S, Treasury, Investors, Spartan Capital Securities, Traders, Dow Jones, PayPal Holdings, Intuit, AMC Entertainment, U.S . Steel, NYSE, Thomson Locations: New York City, U.S, China, Delaware, Cleveland, Bengaluru

☆ Tesla cuts prices again in China for Model Y, Model 3
▼ + stars: | 2023-08-14 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Tesla Chief Executive Officer Elon Musk gets in a Tesla car as he leaves a hotel in Beijing, China May 31, 2023. Tesla has once again cut prices in mainland China, a competitive move that sent shares sliding as much as 3% in Monday morning trading. Two Chinese versions of Tesla's Model Y crossover, priced at 299,000 and 349,000 yuan, have been discounted by 14,000 yuan, or around $2,000. The Model 3 will have a "limited-time insurance subsidy" of 8,000 yuan, or around $1,100. Tesla cut prices multiple times throughout 2022 and 2023, in an effort to clear out inventory and grow deliveries, the closest approximation the company offers to sales.

Persons: Elon Musk, Tesla, Xpeng, CNBC's Hakyung Kim Locations: Beijing, China, Weibo, Shanghai

☆ N.Y.P.D.’s New Intelligence Chief Takes Reins of Secretive Unit
▼ + stars: | 2023-08-13 | by ( Maria Cramer | More About Maria Cramer | ) www.nytimes.com time to read: +1 min

Rebecca Weiner learned about catastrophic threats at an early age: She grew up in Santa Fe, N.M., near the cradle of the nuclear bomb. In college, Ms. Weiner studied the ethical questions that Manhattan Project scientists, and their wives, confronted as they devised the bombs that annihilated two Japanese cities, but that they hoped would “end war as we know it,” she said. Now, Ms. Weiner, 46, has been named the New York Police Department’s deputy commissioner of intelligence and counterterrorism, commanding about 1,500 people spread throughout the city. A lawyer and 17-year department veteran, Ms. Weiner is taking over a bureau that includes a counterterrorism unit created after the Sept. 11 attacks. Since its inception, the unit has helped foil a plan to kidnap an American-Iranian journalist and what officials say were dozens of terrorist plots.

Persons: Rebecca Weiner, Weiner, ” Organizations: Harvard, Manhattan Project, New York Police Locations: Santa Fe, Poland, New Mexico, American, Iranian

☆ Tasers, taunts, torment: What we know about the hours of horror 2 Black men suffered at the hands of a self-described 'Goon Squad'
▼ + stars: | 2023-08-13 | by ( Emma Tucker | ) edition.cnn.com time to read: +12 min

Dedmon, Opdyke and Elward broke open the carport door and Hartfield kicked open the back door. Entering the home without a warrant, the officers encountered two Black men: Eddie Parker and Michael Jenkins. The abuse continued in a bedroom, where Opdyke, Middleton, Dedmon and McAlpin assaulted Parker with pieces of wood and a metal sword. Dedmon, Middleton, Hartfield and Elward then began to tase the two men repeatedly to see “which (Taser) was the most powerful,” the document said. Attorneys for Middleton, Elward and Hartfield declined to comment on the case.

Persons: Christian Dedmon, Hunter Elward, Jeffrey Middleton, Daniel Opdyke, Brett McAlpin, White, Dedmon, ” Dedmon, Joshua Hartfield, McAlpin, Jerome DeLoach, Elward, Hartfield, Eddie Parker, Michael Jenkins, Parker, Jenkins, —, Mary Helen Wall, Kristen Clarke, tased, Brett McAlpin Forrest, Jenkins –, Opdyke, defecated, Jeffrey Middleton Jerome DeLoach, Elward’s Taser, Middleton, Daniel Opdyke Jerome DeLoach, Rankin County Sheriff Bryan Bailey, CNN Parker, Sheriff Bailey, Joshua Hartfield orrest, “, ”, Jeffery Reynolds, Bailey, CNN’s Ryan Young, ” Parker, “ You’re, ” Jenkins, he’s, I’m Organizations: CNN, Justice Department, Justice Department’s Civil Rights Division, Adult Detention, Mississippi Bureau of Investigation, Mississippi Department of Public, Rankin, Detention, Mississippi Attorney General’s, Dedmon Locations: Rankin County , Mississippi, Braxton, Jackson, Mississippi, Rankin County, Black, Opdyke, Middleton, Dedmon, Hartfield, McAlpin, Elward

☆ Married During the 2003 Blackout
▼ + stars: | 2023-08-12 | by ( Sadiba Hasan | ) www.nytimes.com time to read: +1 min

It was shortly after 4 p.m. on a sweltering, sunny Thursday — Aug. 14, 2003 — when the power went out in eight states across the Northeast and Midwest. Sara Hasson was in her bridal suite at a Hyatt hotel in Greenwich, Conn., getting her hair blown out. Dustin Schell was celebrating at a bar after witnessing his friends’ ceremony at City Hall in Manhattan. Dr. Kelvin Chan was running last-minute errands in preparation for his wedding in Toronto the next day. And Dr. Dvasha Stollman was in the middle of putting on her poofy, tulle-layered white gown in New Rochelle, N.Y.“I had no idea what was going on,” Dr. Stollman said.

Persons: Sara Hasson, Dustin Schell, Kelvin Chan, Dvasha Stollman, “, Stollman, ”, Stollman’s Organizations: City Hall Locations: Midwest, Greenwich, Conn, Manhattan, Toronto, New Rochelle, N.Y, Canada

Just as important will be persuading people like Mr. Marohn that electric cars, renewable energy and electric heaters and stoves are practical, economical and exciting. Many, conservatives in particular, chafe at the prospect of the government forcing them to buy electric cars or ditch their natural gas appliances, polls show. By The New York TimesA clean energy future will require painstaking and individually tailored persuasion campaigns. “Even if some of them deny the science of climate change, they can’t deny good-paying jobs,” he said. “I just want to change the perception that electric cars are not as good as big, noisy muscle cars,” Mr. Lawson said.

Persons: Mikey Marohn, “, ”, Marohn, Alicia Cox, Cox, , chafe, Jesus, Ms, ” “, Jae Landreth, “ That’s, “ Nobody’s, Mr, Landreth, Phil Collins, Rob Leach, Leach, ‘, “ I’ve, Jack Conness, Biden, Jennifer Granholm, Granholm, Vladimir V, Putin, Sue Burns, Burns, Marjorie Taylor Greene, William Turner, didn’t “, Jason Walsh, Walsh, Tia Williams, Ms . Granholm, ” Ms, Williams, Joe Wilson, ” “ Didn’t, Roy Cooper of, Cooper, Patrick Lawson, Ford, Lawson, Lawson’s, Susan Lawson, Cheryl, Tesla, They’re, Kent Wheeler, “ It’s, ’, Josh Hermes, Paul Rosenzweig, Rosenzweig, Mary T, Barra, ” Kenneth Boswell, Quinton Lucas, Lucas, ” Mr Organizations: Clean, Biden, General Motors, nonbelievers, Republican, Pew, The New York Times, Pew Research Center, Toyota, Clean Energy Manufacturing, Energy Innovation, Trump, Trump Biden, Savings, Yale, Pontiac, BlueGreen Alliance, Democratic, Georgia Institute of Technology, Mr, Republicans, Flex, Gov, Northern Arapaho Tribe, Tesla, Rocky Mountain Rebels, Elks, Wild West EV, Polaris, Northern Arapaho, Chevy Silverado, Mercedes, Benz, Alabama Department of Economic and Community Affairs, Kansas City, Fire Department Locations: Teton, Wyoming, Yellowstone, Baldwin City, Kan, Kansas City, G.O.P, Counties, Russia, Memphis, South Carolina, Georgia, Tennessee, Murfreesboro, Tenn, Dalton, Ga, Roy Cooper of North Carolina, Riverton, Jackson, Minnesota, Louisiana, Alabama, Missouri, Quinton Lucas , Kansas, Kansas

☆ Argentina inflation likely sped back up ahead of primary vote, analysts say
▼ + stars: | 2023-08-11 | by ( Hernan Nessi | ) www.reuters.com time to read: +3 min

A costumer counts money before buying tangerines in a green grocery store, as Argentines struggle amid rising inflation, in Buenos Aires, Argentina May 11, 2023. REUTERS/Agustin MarcarianBUENOS AIRES, Aug 11 (Reuters) - Argentina's monthly inflation rate likely sped back up to 7.1% in July, a Reuters poll of analysts showed, a blow for the ruling Peronist coalition, which is battling to avoid defeat by the conservative opposition in primary elections on Sunday. The projections from 19 local and foreign analysts ranged from a minimum 5.9% rise to a maximum 7.9% jump in the month. Many analysts saw a tough outlook for prices in the months ahead due to economic uncertainty, fiscal imbalances, and volatility ahead of the general election in October. Argentina's INDEC statistics agency is expected to publish inflation data next week after the primaries.

Persons: Agustin Marcarian, That's, Alejandro Giacoia, Eugenio Marí, Hernán Nessi, Gabriel Burin, Adam Jourdan, Jonathan Oatis Organizations: REUTERS, Peronist, Sunday, Index, Reuters Graphics Reuters Graphics, Libertad, Thomson Locations: Buenos Aires, Argentina, Agustin Marcarian BUENOS AIRES, Progreso

☆ Treasury yields rise after the cooler-than-expected July inflation print
▼ + stars: | 2023-08-11 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

U.S. Treasury yields rose on Friday, after the July consumer price index came in below expectations, with traders now looking ahead to wholesale inflation data. ET, the yield on the benchmark 10-year Treasury note was up by around 2 basis points at 4.1055%, while the yield on the 30-year Treasury bond added almost 3 basis points to 4.2604%. The July CPI indicated that prices rose by 3.2% year-on-year, slightly below the 3.3% consensus forecast among economists polled by Dow Jones. Tiffany Wilding, managing director and economist at Pimco, said the Thursday data would be welcomed by the Federal Reserve. Investors are awaiting more economic data out on Friday, with the July producer price index due at 8:30 a.m.

Persons: Dow Jones, Tiffany Wilding, " Wilding Organizations: Treasury, Federal Reserve, Traders Locations: U.S

The reading was also much lower than 679 billion yuan in July 2022. "China’s bank loan growth fell to its lowest in seven months in July, while broad credit growth dropped to a record low," Capital Economics said in a note to clients. Hobbled by weak demand at home and abroad, China's economic momentum has faltered in recent months despite strong bank lending in the first half. Outstanding yuan loans expanded by 11.1% in July from the year before, the lowest so far this year, compared with 11.3% growth the previous month. In July, TSF slumped to 528.2 billion yuan from 4.22 trillion yuan in June.

Persons: Florence Lo, Luo Yunfeng, TSF, Qiaoyi Li, Kevin Yao, Kim Coghill Organizations: REUTERS, People's Bank of China, Reuters, Huajin Securities, Analysts, Thomson Locations: BEIJING, China, Beijing, Central, TSF

☆ China’s sitting on a goldmine of genetic data – and it doesn’t want to share
▼ + stars: | 2023-08-11 | by ( Jessie Yeung | ) edition.cnn.com time to read: +14 min

The national survey and restrictions on foreign access are part of new regulations on China’s genetic resources, which came into effect in July. The national genetic surveyBiobanking in China – meaning the collection of biological samples – is still “very fragmented,” and in an “embryonic stage,” said Zhang. But these concerns aren’t new – and the national genetic survey seems to be geared more toward scientific research than other purposes, several experts agreed. But China has another motive, too: establishing what some experts call “genomic sovereignty,” meaning full control of the genetic material within their country. While many other countries also have laws regulating the use and transfer of their population’s genetic material, few are as strict as China’s.

Persons: Guang Niu, ”, Joy Y, Zhang, you’re, Wei Liang, ICHPL, Anna Puglisi, Puglisi, States –, Katherine Wang, ” –, Wang, “, Sun, Xi Jinping, Jiankui, Anthony Wallace, ” Zhang Organizations: Hong Kong CNN, Central South University, Centre for Global Science, biosciences, Shanxi Province Reproductive Science, Communist Party, Georgetown’s Center for Security, Emerging Technology, Gray, Group, CNN, Ministry of Science, Technology, National Health Service, National Institutes of Health, NIH Locations: Hong Kong, China, Changsha, Shanxi Province, Taiyuan, States, “, Wuhan, Xinijang, Xinjiang, Beijing, AFP, Harvard

☆ Here are Friday's biggest analyst calls: Amazon, Netflix, Nio, Coinbase, Apple, Chevron, BJ's, Carvana
▼ + stars: | 2023-08-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Friday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on shares of Apple. JPMorgan reiterates Netflix as overweight JPMorgan said it's standing by its overweight rating on Netflix shares. Morgan Stanley upgrades DigitalOcean to equal weight from underweight Morgan Stanley said in its upgrade of the software company that its thesis on DigitalOcean has largely played out. Morgan Stanley reiterates Carvana as underweight Morgan Stanley said the company still has "alot to prove." Wells Fargo reiterates Chevron as overweight Wells said it's standing by its overweight rating on shares of Chevron.

Persons: Morgan Stanley, Apple, it's, hasn't, pushback we've, Mizuho, Coinbase, Redburn, DigitalOcean, Nio, Carvana, Wells, Wells Fargo, BJ, JPMorgan, Krispy Kreme, Krispy, Stephens, Wolfe downgrades Stanley Black, Decker, Wolfe, Argus Organizations: Apple, iPhone, Services, JPMorgan, Netflix, ARM, Walmart, Credit Suisse, HOOD, " Bank of America, Oncology, Bank of America, Citi, Cisco Citi, Cisco, Arista, Juniper, Enterprise, Deutsche Bank, Deutsche, Chevron, FedEx, Garden Entertainment Locations: Coinbase, 2Q, HOOD

☆ Congress's UFO hearing shows the hardest part of discovering alien life may be announcing it. Here's how NASA might break the news.
▼ + stars: | 2023-08-11 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +9 min

An illustration of the CoLD scale for determining confidence in a detection of alien life. The discovery of extraterrestrial life is likely to be a slow build-up, rather than an explosive eureka moment. The president or other countries could be involved in announcing extraterrestrial life existsPresident Joe Biden speaks at Delaware State University. Anna Moneymaker/Getty ImagesAnnouncing the existence of alien life would be an "administration-level" affair, Glaze said, referring to the US presidency. Needless to say, any discovery of alien life would likely lead to chaos — at least in public discourse.

Persons: NASA isn't, David Grusch, Randall Hill, UAPs, Elon Musk, John Locher, Karine Jean, Pierre, we've, Lori Glaze, Glaze, James Webb, Jean, Philippe Arles, It's, Aaron Gronstal, Mary Voytek, Joe Biden, Anna Moneymaker, Carlos Garcia Rawlins, Stephen Hawking, I'm, we're Organizations: Service, NASA, Beijing, Reuters, Department of Defense, Associated Press, AP, White House, Navy, US Department of Defense, JPL, Caltech, Delaware State University Locations: Wall, Silicon, South Carolina, Surfside Beach , South Carolina, US, Alaska, Canada, Lake Huron, Rachel , Nevada, Bugarach, France

☆ Why Remedios Varo, one of the ‘three witches’ of surrealism, continues to fascinate today
▼ + stars: | 2023-08-10 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +9 min

Like many of her contemporaries, Varo fled Europe as war bore down on the continent, arriving in Mexico in 1941. It took more than a decade for her to exhibit her work there, but when she did, she left her mark. Alchemy and artistryDuring her life in Mexico City, Varo bonded with fellow artist Carrington and photographer Kati Horna. Remedios Varo/ARS, New York/VEGAP, Madrid/Art Institute of ChicagoVaro’s sense of humor periodically cuts through in her work. You see that on the surface of her work, with story and material coming together into one unified composition.

Persons: CNN —, Remedios Varo —, —, los Remedios Alicia y Rodriga, Uranga —, André Breton, Varo, Juliana, Remedios Varo, Salvador Dalí, Joan Miró, Max Ernst, ”, Varo’s, “ Remedios Varo, Frida Kahlo, Leonora Carrington, Caitlin Haskell, Tere Arcq, El Juglar, “, ” Haskell, Walter Gruen, Carrington, Kati Horna, George Gurdjieff, El, Rodrigo Chapa, Katrina Rush Organizations: CNN, Mexico City, Artists Rights Society, Art Institute of Chicago, Arte Moderno, York’s Museum of Modern, Art Institute Locations: Mexico, Spanish, Paris, Europe, New York, Madrid, Varo’s, Mexico —, United States, El, Mexico City, Venice, Ciencia

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