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☆ China's stock surge has echoes of the 2015 bubble. What's different this time
▼ + stars: | 2024-10-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Costfoto | Nurphoto | Getty ImagesBEIJING — The rocket higher in Chinese stocks so far looks different from the market bubble in 2015, analysts said. Major mainland China stock indexes surged by more than 8% Monday, extending a winning streak on the back of stimulus hopes. Stock market leverage by percentage and value were far higher in 2015 than data for Monday showed, according to Wind Information. He added that there are market risks from how unprepared the stock trading system was for the surge of buying. Reports indicate brokerages have been overwhelmed with new requests, echoing how individuals piled into the stock market nearly a decade earlier.

Persons: Aaron Costello, We're, Xi Jinping, Zhu Ning, Stephen Roach, Yale Law School's Paul Tsai, Costello, Peter Alexander, it's, —, Alexander Organizations: Nurphoto, Getty, Cambridge Associates, U.S ., greenback, U.S, CSI, People's Bank of China, Nikkei, Yale Law, Yale Law School's Paul Tsai China Center, Ministry of Finance, Ben Advisors, Shanghai Stock Exchange Locations: Hangzhou, China, BEIJING, Shanghai, Shenzhen, Asia, MSCI, People's Republic of China, Beijing

☆ Morgan Stanley names China stocks set to benefit from a 'sustained rally'
▼ + stars: | 2024-10-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Morgan Stanley says that Chinese stocks could enjoy a more "sustained rally" in the next phase — beyond a near-term jump — as they ride on the wave of stimulus measures and signals announced last week. They predict at least a 10% rally in the near term , and even more ahead. Against that backdrop, the bank indicated its preference for certain stocks that are set to benefit from easing measures. Stock screens Morgan Stanley did a few stock screens to sieve out those set to benefit. Morgan Stanley says it expected a supplementary budget to be announced in late October, supporting consumption and local government financing.

Persons: Morgan Stanley, Evelyn Cheng Locations: Hong Kong, China

But Iran’s 2020 election interference efforts stand apart from what have become well-recognized interference patterns, according to an indictment from the Justice Department, Treasury Department sanctions, researchers and media reporting, and comments from current and former U.S. officials. That gave them access to Election Night Reporting (ENR) systems, which provide live updates on unofficial results on Election Day. Fake Proud Boys campaignIn the most bizarre and elaborate foreign influence campaign of 2020, Iranian hackers allegedly staged an entirely fictional cyber-enabled fraud and harassment campaign, according to a detailed 2021 Justice Department indictment. The Iranian hackers did successfully steal some voter data from Alaska’s Online Voter Registration System, but otherwise none of it was true. The hackers tried to post it to various platforms online but it gained little traction.

Persons: Donald Trump’s, Hillary Clinton’s, Trump, ”, Brandon Wales, William J, Hartman, It’s, Emennet Pasargad, “, Christopher Wray, National Intelligence John Ratcliffe, Alireza Miryousefi, Department’s, Joe Biden, Gretchen Whitmer, Chris Krebs, CISA, Miryousefi Organizations: Democratic, Justice Department, Treasury Department, Cybersecurity, Infrastructure Security Agency, NBC News, Cyber Command, Army, RSA, tinker, U.S, Trump militia, Alaska’s, Stanford University, Google, YouTube, Republican, Trump, National Intelligence, Iran, United Nations, Lee Enterprises, U.S . Capitol, Dominion Voting Systems, FBI Locations: United States, Iran, China, Russia, U.S, Iranian, Tehran, San Francisco, Florida, Moldova, Alaska, American, Omaha, crosshairs, Michigan

☆ Powell indicates further, smaller rate cuts, insists the Fed is 'not on any preset course'
▼ + stars: | 2024-09-30 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +4 min

But we are not on any preset course,” he told the National Association for Business Economics in prepared remarks. A basis point equals 0.01%. “We do not believe that we need to see further cooling in labor market conditions to achieve 2 percent inflation,” Powell added. For his part, Powell expressed confidence in economic strength and sees inflation continuing to cool. Broader economic conditions also set the table for further disinflation.”Following the speech, Powell was scheduled to sit for a question-and-answer session with Morgan Stanley economist Ellen Zentner.

Persons: Jerome Powell, ”, ” Powell, Powell, “, Morgan Stanley, Ellen Zentner Organizations: National Association for Business Economics, Committee, Fed Locations: Nashville

☆ In a single Delhi house, several hundred years of Indian history
▼ + stars: | 2024-09-30 | by ( Aishwarya S Iyer | ) edition.cnn.com time to read: +9 min

And then there was Chandni Chowk, built as a part of Emperor Shah Jahan’s new capital Shahjahanabad - or Old Delhi as it later became. His ancestor, he says, was appointed the first municipal commissioner of Old Delhi. Knotting history and faithIt isn’t only multiple eras of history that intertwine here in this sliver of Old Delhi. Originally built in the 1600s, the temple was renovated with red sandstone in 1878, giving it the nickname the Red Temple. Rickshaw pullers rest along a street in Chandni Chowk, Old Delhi, India on August 6, 2023.

Persons: Chandni Chowk, Emperor Shah Jahan, Ajay Parshed, Parshed, Chandni, ”, Chunna Mal, Aishwarya S, Iyer, he’s, “, ” Parshed, Khan, Jama, Emperor Shah Jahan’s, Chunna, “ Chunna Mal, Jain, Gauri Shankar, who’ve, Rameen Khan, ” Khan, Sheetal Saxena, Shiva, Pradeep Dambarage, Nader Shah, Dilip Saxena, Saxena, “ Will Organizations: CNN, Mahal, Central Baptist Church Locations: Delhi, Chandni, Agra, British, Old Delhi, ”, Chandni Chowk, India, Golden, “

☆ Why Damian Lewis is herding sheep in London
▼ + stars: | 2024-09-30 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

Hollywood actor Damian Lewis abandoned his ewe-sual starry pursuits this weekend to drive a group of sheep over a bridge in London. Lewis’ temporary role of shepherd was part of a tradition dating back hundreds of years. The City of London – London’s traditional financial hub – is known as the Square Mile, although it actually covers 1.12 square miles. In a statement from the organizers prior to the event, Lewis expressed his excitement about leading the sheep drive. “As a proud London Welshman, playing the drover and driving my sheep, as if from Llandeilo, across The Thames, will be a career highlight.

Persons: London CNN —, Damian Lewis, Lewis ’, ”, Lewis, London Ben Stansall, “, ” Lewis, Freeman Organizations: London CNN, City of, Getty, City, “, Brothers, London Locations: London, City, City of London, AFP, The

☆ China's bond market seems skeptical that recent stimulus will be enough
▼ + stars: | 2024-09-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China's bond traders are piling into the safe-haven asset despite recent stimulus efforts. The 30-year government bond yield hit its lowest level since 2005 last week and fell again Monday. AdvertisementWhile Chinese stocks have roared on Beijing's stimulus jolt, the country's bond market suggests there's lingering skepticism. But the bond market seemed less convinced, with the 30-year government bond yield falling the next day to close to its lowest level since 2005. Investors may be reacting to the widely held view that despite the size and scope of China's stimulus moves, they still might not be enough.

Persons: —, Stocks, it's Organizations: Bank of America, Service, CSI, People's Bank of Locations: China, People's Bank of China, CNY1.85tn

☆ Despite Stock Market Hopes, China's Stimulus Plan Won't Fix Economy
▼ + stars: | 2024-09-29 | by ( Linette Lopez | ) www.businessinsider.com time to read: +7 min

Homebuyers can also now put less money down on their purchases — an attempt to breathe life into China's moribund property market. Since the pandemic, China's leader, Xi Jinping, has done little to stop the bleeding in the country's property market or to get China's ailing consumers to start spending money again. Xi's Beijing lacks the will and the power to turn China's economy around. At the heart of its problems is a lack of consumer demand and a property market going through a deep, slow-moving correction. Plus, there's Xi, who seems fairly uninterested in restructuring the property market.

Persons: Gongsheng, Wall, Xi Jinping, China —, Goldman Sachs, —, Sam Altman, Genéralé, Michael Pettis, Xi doesn't, Friedrich Hayek, Xi Organizations: Beijing, People's Bank of China, People's Bank, Shanghai, Chinese Communist Party, Nasdaq, CCP, Peking University, Carnegie Endowment, European Union Locations: China's, China, Beijing, Austrian

No ballot will have a gun-related initiative led by voters this fall. Among the four proposed reforms, voters in Washington state wanted to ban assault weapon sales, while voters in California proposed requiring trigger locks on firearms and annual gun license renewals. Heyne said it is a sign that state and federal legislators are enacting gun laws, meaning voters no longer have to take matters into their own hands. In a landslide, voters in California greenlit proposals that strengthened gun laws. In May, the state passed a law preventing local governments from enforcing red-flag laws.

Persons: Victoria Rose, Rose, Christian Heyne, Brady, Heyne, ” Heyne, Joe Biden, ”, “, Randy Kozuch, Kozuch, ” —, Jonathan Skrmetti, Skrmetti Organizations: Safer Communities, NRA Institute for Legislative, NRA, ILA, Colorado, Tennessee Locations: Oregon, Washington, California, Nevada, New York, Memphis

☆ Chinese adoptees say they feel conflicted after China announces end to international adoptions
▼ + stars: | 2024-09-28 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +8 min

It comes after China greenlit international adoption in 1992, leading to roughly 160,000 Chinese children being adopted to other countries, with half going to the U.S. The slowed international adoption coincides with a 2016 reversal of China’s one-child policy, which limited each Chinese family to one child in order to control population growth. With the door closed on international adoption, Newton emphasized that in order for those currently in Chinese social welfare institutes to thrive in their birth country, they also need more support. “The situation truly is a little bit more complicated for these kids with intense disabilities, especially with the rising costs of living in China,” Newton said. Newton said adoptees are often seen as “perpetual children” whose points of view don’t need to be considered.

Persons: Maze Felix, ” Felix, they’re, Grace Newton, ” Newton, Newton, “, ’ ”, Mao Ning, ”, it’s, Monaco, adoptees, ” Monaco, didn’t, Katelyn Monaco, Felix, there’s, There’s Organizations: China, NBC News, Foreign, U.S, Research, Katelyn, Monaco, “ Locations: China, Cleveland, Beijing, Katelyn Monaco, Quincy , Massachusetts, Monaco, Los Angeles, Yangzhou, ’

☆ Koalas are up power poles, on roads, in schools. Why the outlook for Australia’s listed icons remains ‘poor’
▼ + stars: | 2024-09-28 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +19 min

In 2022, a 10-year national recovery plan was launched to stop the decline in numbers and improve the size, quality and connectivity of koala habitat in the listed areas. “I often think, ‘Am I sitting here, seeing the last of Queensland koalas filtering through, as I work with them?’”One of three subspecies, Queensland koalas are smaller and grayer than their southern cousins, and are the kind often seen in photos with celebrities and foreign dignitaries. “Aussies would be horrified to know that we are bulldozing koala habitat at the rate that we are,” she said. Koala habitat squeezed in citiesWith a human population of 2.5 million, Brisbane is one of Australia’s fastest-growing capital cities. Declining numbersMost of the ambition for vast tracts of new koala habitat in Queensland lies outside Brisbane’s established inner-city suburbs.

Persons: Sophia Windsor, ”, ” Sophia Windsor, Sophia Windsor Koalas, they’re, Max, Sue Minter Walter, Hilary Whiteman, telltale, Kelly Batten, “, John Knights, United Kingdom who’s, CNN He’s, he’s, Knights, Murray Chambers, CNN Murray Chambers, “ You’ve, Chambers, “ We’re, Trent, Windsor, Tim Portas, ” Portas, ‘, Japan's Naomi Osaka, Patrick Hamilton, Natalie Frost, Paul Hilton, Gemma Plesman, Frost, Jo Murray, ” Murray, Residents Jo Murray, Colleen Holland, woodcutters, –, Garth Nolah, Karin Machell, Beau, Louis, can’t, Murray, they’ve, CNN’s, Bill Ellis, Adrian Schrinner, Council Ellis, we’ll, I’m, It’s, CNN Trent’s, Australia – Windsor, ” Windsor, reckons he’s, They’re Organizations: Australia CNN, Wallabies, CNN, Brisbane, Olympic Games, Windsor, Knights, Koala Rescue, RSPCA Wildlife Hospital, RSPCA Queensland National, Australian Capital Territory, Queensland, Department of Environment, Science, Lone Pine, Brisbane International, Getty, Koalas Fund, Queensland Conservation, Greenpeace, Greenpeace Greenpeace, Greenpeace Australia Pacific, Residents, NBA, Moreton Bay Council, Council, University of Queensland, Brisbane City Council, Brisbane Lord, Gravatt, Mount Gravatt Outlook, Reserve Locations: Brisbane, Australia, Queensland, Australia’s, Windsor, backyards, Tarragindi, Toohey Forest, United Kingdom, Koala, ”, New South Wales, South East Queensland, Lone, AFP, Wamuran, Mulga, city’s, Lawnton, Brisbane’s, Moreton, Moreton Bay, ” Moreton, Brisbane City, “ Brisbane, Trent, Australian, Whites

☆ Top Democrat urges Biden admin to do more to help local election officials fight a flood of disinformation
▼ + stars: | 2024-09-27 | by ( Dan De Luce | Dan De Luce Is A Reporter For The Nbc News Investigative Unit. | ) www.nbcnews.com time to read: +5 min

“Unfortunately, throughout this election cycle we have witnessed an unprecedented rise in targeted election disinformation campaigns,” Warner wrote to Jen Easterly, director of the Cybersecurity and Infrastructure Agency (CISA). They say some understaffed state and local election agencies are ill-equipped to handle the problem and are uncertain how much they can rely on federal agencies for help. In his letter, Warner said state and local governments are hard-pressed to keep up with the rapid advances in AI-generated information operations. CISA has said previously that the agency has focused on helping educate the public and train state and local election officials about the tactics employed in disinformation campaigns. Instead, for any disinformation originating from within the U.S., it will likely be up to state and local election officials to flag it to voters.

Persons: Biden, NBC News . Sen, Mark Warner of Virginia, —, ” Warner, Jen, “, Sen, Mark Warner, Tom Williams, Donald Trump’s, Warner, CISA, Kamala Harris Organizations: Democratic, NBC News ., Senate Intelligence, Infrastructure Agency, Capitol, Inc, Getty, NBC News, Officials, FBI, Department of Homeland, Warner, National Intelligence Locations: Russia, Iran, China, Florida, U.S

This article is part of “Dealing the Dead,” a series investigating the use of unclaimed bodies for medical research. Texas Senate Media ServicesThe Health Science Center did not comment on Parker’s plans for legislation. The Health Science Center suspended its body-donation program, fired the officials who led it and said it would stop accepting unclaimed bodies. The University of North Texas Health Science Center suspended its body-donation program and fired the officials who led it. Dallas County officials have said moving forward they won’t provide unclaimed bodies for research unless survivors choose to do so.

Persons: Sen, Tan Parker, Parker, “, ”, Andy North, Shelby Tauber, Alisa Simmons, Brenda Cloud, Victor Honey, Maddie McGarvey, NBC News Cloud, ” Cloud, ” Terrence Hayes, “ Mr, Honey, Al Sharpton, MSNBC’s, ” Sharpton, Thomas Champney, ” Champney, Eli Shupe, Tarrant, ” Shupe, Louisa Harvey, Michael Coleman, Michael, ” Harvey, Louisa Harvey ., Louisa Harvey Harvey, Harvey, she’s Organizations: NBC News, Republican, NBC, Fort, University of North Texas Health Science Center, Army, Texas, Media Services, Health Science Center, Dallas, Fort Worth National, U.S . Department of Veterans Affairs, Veterans, Health Science, University of Miami Miller School of Medicine, University of Texas Locations: Texas, Dallas, Tarrant, Fort Worth, North Texas, Mississippi, United States, Arlington

☆ French tycoon gains $17 billion from China’s economic stimulus push
▼ + stars: | 2024-09-27 | by ( Juliana Liu | ) edition.cnn.com time to read: +4 min

But by the end of the day, his net worth jumped by $17 billion to $201 billion, the index reported, calling it his third-biggest daily increase ever. That market, which accounted for 31% of total revenue last year, is dominated by China. Hong Kong’s benchmark Hang Seng index has added just over 12% so far this week, while mainland China’s blue-chip CSI300 has gained more than 15%. However, experts urged investors to be cautious as officials must still come up with ways of stabilizing the property market, which once accounted for as much as 30% of economic activity. It began to cool in 2019 and fell into a deep trough about two years later, after a government-led clampdown on developers’ borrowing.

Persons: Bernard Arnault isn’t, Arnault, LVMH, “, Nomura, Xi Jinping, Pan Gongsheng, Pan Organizations: Hong Kong CNN, LVMH, Bloomberg, Markets, People’s Bank of China Locations: China, Hong Kong, LVMH, Paris, Asia, “ Beijing

☆ Voters in Dalton, Georgia, stick with Trump despite Biden’s clean energy law that revived growth there
▼ + stars: | 2024-09-27 | by ( Phil Mattingly | Andrew Seger | ) edition.cnn.com time to read: +11 min

Dalton, Georgia CNN —The face of a new era in American manufacturing is here, just off Interstate 75, tucked into this northwest corner of Georgia. That’s where you’ll find the Qcells plant that pumps out 32,000 solar panels a day and has a total panel production capacity of 5.1 gigawatts. They’re contributing back into the local community, paying taxes,” Nash said. The Qcells solar panel plant in Dalton, Georgia CNNTrump strikes a chordLocated in the congressional district represented by GOP firebrand Marjorie Taylor Greene, Dalton is Trump country. “You want to ask me that after November?” Nash, the Qcells plant manager, responded when asked about the future for the industry.

Persons: Dalton, ”, Lisa Nash, “, didn’t, it’s, ” Nash, Biden, “ We’ve, Scott Moskowitz, Kamala Harris, Andi Rice, she’s, Kimberly Richardson, Harris, Richardson, Qcells, ” Richardson, Donald Trump, ” Kasey Carpenter, Dalton , Georgia CNN Trump, Marjorie Taylor Greene, ” Carpenter, Trump, George, Kasey Carpenter CNN, Brian Kemp –, can’t, Matt Santini, CNN's Phil Mattingly, “ It’s, ” Santini, Carpenter, –, there’s, Mattingly, It’s, ‘ Don’t Organizations: Georgia CNN, CNN, Bloomberg, Getty, Republican, Dalton , Georgia CNN, GOP, Republican Gov, Biden, Trump, Oakwood Locations: Georgia, That’s, Dalton, Qcells, Dalton , Georgia, United States, Trump, Cartersville , Georgia, Atlanta

☆ The Fed slashed interest rates last week, but Treasury yields are rising. What’s going on?
▼ + stars: | 2024-09-26 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +6 min

The Treasury market, though, hasn’t been paying attention. Officials penciled in another 50 basis points in reductions by the end of the year and another 100 by the end of 2025. That sentiment is evident in the “breakeven” inflation rate, or the difference between standard Treasury and Treasury Inflation Protected Securities yields. The 5-year breakeven rate, for instance, has risen 8 basis points since the Fed meeting and is up 20 basis points since Sept. 11. Taken together, the various dynamics in the Treasury market are making it a difficult time for investors.

Persons: hasn’t, ”, Jonathan Duensing, — haven’t, “, Robert Tipp, We’re, Jerome, Powell, ” Duensing, Tom Garretson, “ They’d, There’s Organizations: Federal Reserve, Treasury, Amundi, Fed, CME, Treasury Inflation, RBC Wealth Management

☆ UK finance chiefs are banging the drum for one major reform to boost economic growth
▼ + stars: | 2024-09-26 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Ian Forsyth | Getty Images News | Getty ImagesLiverpool, ENGLAND — U.K. finance chiefs are banging the drum for pension reforms to boost anaemic investment and growth in the country. William Vereker, chairman of Santander U.K., cited pension reform as one of three paths to economic growth, alongside skills and education, and regulation. "If we do not have domestic capital investing in domestic businesses, we will not see the growth that this government is so rightly focused on," he added. "For me, pension reform is the way to unlock growth in the U.K.," Lee told "Squawk Box Europe." UK pensions reviewU.K. Finance Minister Rachel Reeves in July announced a landmark pensions review as part of a "big bang" of reforms to unlock growth.

Persons: Ian Forsyth, —, William Vereker, Vereker, Muirinn O'Neill, we're, Tiina Lee, Lee, it's, Rachel Reeves, Tulip Siddiq Organizations: Labour Party Conference, ACC Liverpool, Getty, Labour, Santander U.K, Citi U.K, CNBC, Finance, Treasury Locations: Liverpool, England, ENGLAND, City, London

☆ Universal basic income pros and cons —according to experts
▼ + stars: | 2024-09-26 | by ( Allie Kelly | ) www.businessinsider.com time to read: +13 min

BI broke down the pros, cons, and frequently asked questions about basic income. Universal basic income and guaranteed basic income could fill gaps in the existing US social safety net, experts said. A benefit of basic income is the element of choice, according to Shafeka Hashash, associate director of guaranteed income at the Economic Security Project. Private donors often fully or partially fund basic income programs, lessening the cost burden on local governments. US states with active basic income programs include California, Illinois, Colorado, New York, Georgia, Louisiana, and more.

Persons: —, Melvin Carter, Paul, Shafeka Hashash, Hashash, It's, John Gillette, Oscar Wong, UBI, Andrew Yang, Howlette, hasn't, Michael Tubbs, Allan Baxter, What's, Sam Altman, Elon Musk Organizations: Service, Business, St, SDI, SNAP, Economic Security, Arizona, Rep, American, Orleans Mayor's, Youth, University of British Columbia, Alaska Permanent Fund, Tech Locations: Valley, America, Los Angeles and Illinois, Texas, Missouri, Arizona , Iowa, South Dakota, Orleans, Denver, Atlanta, Alaska, California , Illinois, Colorado , New York , Georgia, Louisiana, Canada, Brazil, China, Germany, India, Iran, Ireland, California, New Mexico, Oregon

☆ China to issue $284 billion of sovereign debt this year to help revive economy, sources say
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: +1 min

China plans to issue special sovereign bonds worth about 2 trillion yuan ($284.43 billion) this year as part of a fresh fiscal stimulus, said two sources with knowledge of the matter, adding to a string of measures to battle strong deflationary pressures and faltering economic growth. As part of the package, the Ministry of Finance (MOF) plans to issue 1 trillion yuan of special sovereign debt primarily to stimulate consumption amid growing concerns about a stuttering post-COVID economic recovery, said the sources. China also aims to raise another 1 trillion yuan via a separate special sovereign debt issuance and plans to use the proceeds to help local governments tackle their debt problems, the source added. Most of China's fiscal stimulus still goes into investment, but returns are dwindling and the spending has saddled local governments with $13 trillion in debt. China's State Council Information Office, which handles media queries on behalf of the government, and the MOF did not immediately respond to requests for comment.

Organizations: Ministry of Finance, Information Office Locations: China

☆ European stocks set for positive open, spurred on by gains in Asia-Pacific markets
▼ + stars: | 2024-09-26 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

City of London skyline on 10th June 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. LONDON — European stocks are expected to open in positive territory Thursday, spurred on by gains in Asia-Pacific markets overnight. The positive start to the trading day anticipated in Europe comes after Asia-Pacific markets rose overnight, with markets in the region led by Japan's Nikkei 225 and Chinese markets extending gains. Japan's Nikkei climbed 2.12%, while the broad based Topix was up 1.65%, as the Bank of Japan released minutes of its July meeting.

Persons: Germany's DAX Organizations: LONDON, CAC, IG, Japan's Nikkei, Bank of Japan, China's CSI Locations: London, United Kingdom, The City, Asia, Pacific, Europe

☆ China's Xi and top leaders call for halting real estate decline, responding to public concerns
▼ + stars: | 2024-09-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Authorities "must work to halt the real estate market decline and spur a stable recovery," the readout said in Chinese, translated by CNBC. The readout said leaders called for strengthening fiscal and monetary policy support, and touched on a swath of issues from employment to the aging population. Just days after the U.S. cut interest rates, the People's Bank of China on Tuesday announced a slew of planned interest rate cuts and real estate support. This real estate policy is aiming at reducing its drag on the economy." Tempering growth expectationsThe meeting readout said China would "work hard to complete" the country's full-year economic targets.

Persons: Xi Jinping, Zhiwei Zhang, Stocks, Goldman Sachs, Yue Su, Zong Liang, Zong, Bruce Pang Organizations: Getty, CNBC, Communist Party, People's Bank of China, Economist Intelligence Unit, Bank of Locations: Yuexi County, Anqing, Anhui province, China, BEIJING, Hong Kong, U.S, Beijing, JLL

☆ Fall is here, but experts say communities need a heat plan
▼ + stars: | 2024-09-25 | by ( Lolita Lopez | Nbc Los Angeles | ) www.nbcnews.com time to read: +3 min

Heat is the leading cause of climate-related deaths in the country, but knowing how deadly it is? A study from Texas A&M, however, projects the actual number could be four times greater, with approximately 11,000 Americans dying from extreme heat last year. A new pilot program in California is in the works to create a revamped heat warning system. Turner says we can get a better understanding of how extreme heat is affecting us as it’s happening, which could create more immediate heat protocols to protect people at home, at schools and at work. Los Angeles, which has its own Heat Officer, and Los Angeles County are expected to soon release Heat Action Plans.

Persons: ” V, Kelly Turner, Turner, ” Turner, Jennifer Vanos, ” Organizations: Disease, Urban Planning, UCLA, Luskin Center for Innovation, School of Sustainability, Arizona State University, Extreme, Resilience, NOAA Locations: California, Texas, Los Angeles, Los Angeles County, United States

☆ Tropical Storm Helene: Thousands forced to evacuate in Florida as hurricane warnings issued
▼ + stars: | 2024-09-25 | by ( Taylor Ward | Dalia Faheid | ) edition.cnn.com time to read: +12 min

CNN —Thousands of Florida residents have been forced to evacuate as the state prepares for rapidly strengthening Tropical Storm Helene, which could bring powerful winds, flooding and life-threatening storm surge to areas already hard-hit by recent hurricanes. The Big Bend area faces the most serious storm surge: up to 15 feet of it is possible. Over in Sanibel, one couple who met during Hurricane Ian in 2022 and nearly lost everything are now going to weather Tropical Storm Helene together, CNN affiliate WINK reported. Large clouds move over Havana due to the proximity of the tropical storm Helene, on September 24. Officials in neighboring Pinellas County warned hundreds of homes would likely flood with a higher storm surge than in past destructive storms.

Persons: Helene, Debby, Idalia, Ian Just, ” Howard Rabe, “ We’ve, we’ve, ”, Rabe, Ian, Michele Vikartofsky, Larry Leventhal, ” Vikartofsky, “, it’s, “ Ian, Vikartofsky, WINK, Hurricane Debby, Ron Booher, Hurricane Michael, ” Lynn Marshall, Yamil Lage, Ron DeSantis, DeSantis, Cathie Perkins, Kenneth Welch, ” Welch, Brian Kemp, ” Kemp, James Stallings, Herman, Connell Crooms, Corey Perrine, it’ll, It’s Organizations: CNN, Hurricane, National Hurricane Center, Tampa General Hospital, WFTS, WINK, WFTV, WJHG, Getty Images, Gov, Florida National Guard, Florida State Guard, –, Georgia Gov, Georgia Emergency Management, Homeland Security, Woerner, Florida Times, USA, Florida, National Weather Service, Carolinas, Weather, Florida Panhandle Locations: Florida, Bend, United States, Gulf of Mexico, Tampa, Florida’s Gulf, Anclote, Mexico Beach, Cabo Catoche, Citrus, Hillsborough, Charlotte, Gulf , Manatee, Pinellas, Taylor County, Tallahassee, Franklin, Wakulla, Port Richey, Sanibel, Manatee County, Gulf County, Havana, AFP, Getty Images Florida, Georgia, Pinellas County, Idalia, St . Petersburg , Florida, Hillsborough , Pinellas, Sarasota, Jacksonville , Florida, Tampa Bay, Florida , Georgia, Alabama, Tennessee, Carolinas, Virginia, Gulf, Helene

☆ Consumer confidence fell more than expected this month
▼ + stars: | 2024-09-24 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +2 min

The board’s Consumer Confidence Index slid to 98.7, down from 105.6 in August, the biggest one-month decline since August 2021. By contrast, the index had a reading of 132.6 in February 2020, a month before the Covid pandemic hit. Each of the five components the organization samples fared worse on the month, with the biggest fall coming among those aged 35-54 and earning less than $50,000. “Consumers’ assessments of current business conditions turned negative while views of the current labor market situation softened further. Consumers were also more pessimistic about future labor market conditions and less positive about future business conditions and future income,” said Dana Peterson, chief economist at The Conference Board.

Persons: Dow, ”, Dana Peterson, Stocks, ” Peterson Organizations: Conference Board, Treasury, Federal Reserve

☆ Fed Governor Bowman explains dissent on rate vote, says she’s worried about inflation
▼ + stars: | 2024-09-24 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +3 min

Federal Reserve Governor Michelle Bowman said Tuesday she thought her colleagues should have taken a more measured approach to last week’s half percentage point interest rate cut as she worries that inflation could reignite. In explaining her rationale, Bowman said the half percentage point, or 50 basis point, reduction posed a number of risks to the Fed’s twin goals of achieving low inflation and full employment. Though Bowman favored a reduction, she preferred the Fed lower by a quarter percentage point, more in line with the traditional moves at the central bank. In recent statements, Fed officials have cited easing inflation and a softening labor market as justification for the cut. At last week’s meeting, individual policymakers indicated they expect another half percentage point in cuts this year and another full point in 2025.

Persons: Michelle Bowman, Bowman, ” Organizations: Federal Locations: Kentucky

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