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☆ China's factory activity expands for the first time since April, official survey shows
▼ + stars: | 2024-10-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's official purchasing managers' index for October came in at 50.1, in expansionary territory for the first time since April, according to National Bureau of Statistics data released Thursday. The last time the PMI was above the 50-point line that determines contraction from activity was in April, with a reading of 50.4. Raw materials inventory ticked up to 48.2, still in contraction territory, along with employment at 48.4, which was mildly better than the prior month. The statistics bureau's PMI for non-manufacturing activity rose to 50.2 in October. The employment portion of the non-manufacturing PMI climbed by 1.1 percentage points to 45.8.

Organizations: BEIJING, National Bureau, Statistics, PMI

☆ Top Chinese airlines' profits fall as flagging economy pressures fares
▼ + stars: | 2024-10-31 | by ( ) www.cnbc.com time to read: +1 min

China's top three state-owned airlines reported profit declines in the third quarter despite record summer passenger numbers and fuller planes than last year, as a slowdown in domestic economic growth pushes flyers to seek cheaper fares. Beijing-headquartered Air China on Wednesday reported a net profit of 4.14 billion yuan ($581.34 million) in the quarter, down from 4.24 billion yuan a year earlier. China Eastern Airlines on the same day posted a net profit of 2.63 billion yuan, down 28.2% year on year. The country's largest airline China Southern said on Monday there was "strong demand in the aviation market" but reported a 23.9% year-on-year drop in third-quarter net profit to 3.19 billion yuan. Airlines globally have been seeing stable demand but overcapacity and sluggish yields as a post-pandemic travel boom abates and most planes are back in the skies.

Organizations: Air, China Eastern Airlines, China Southern, Airlines Locations: Beijing, Air China, China

☆ Republican and Democrat stock baskets from UBS heading into the election
▼ + stars: | 2024-10-31 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

With polling forecasting a close race in the U.S. presidential election , UBS is eyeing two baskets of stocks to prepare for either outcome. Overall, UBS said stocks within its Trump administration beneficiaries basket indicate a win for the former president next week. Here is a look at some of the stocks UBS has placed in each grouping. Also, a Trump administration could roll back some actions that were favorable to utilities with exposure to renewables. Other sectors that can benefit from a Harris win include homebuilding as well as child care and employment agencies, Garthwaite added.

Persons: Andrew Garthwaite, Donald Trump, Kamala Harris, Garthwaite, Harris, Goldman Sachs, David Solomon, Trump Organizations: U.S, UBS, Institute of International Finance, Trump, Citigroup, Goldman, Citi, Nike, Democratic Locations: U.S, China, Goldman Sachs, Beijing

President Harris would probably put more pressure on Israel to reach a cease-fire and open up talks with the Palestinians. Ukrainians worry that a President Trump would force a quick and dirty peace deal favorable to Russia. They hope a President Harris would continue to support them on the battlefield. Under President Harris, that would probably mean continuity with the Biden administration policies that have become much more restrictive over time. Migrants from all over the world pass through Mexico to get to the U.S. border, and the United States can’t control the flow of migrants without Mexico’s assistance.

Persons: Israel Patrick Kingsley, Harris, Trump, Benjamin Netanyahu, Ukraine Anton Troianovski, Volodymyr Zelensky, Vladimir V, Putin, Biden, China Keith Bradsher, NATO Steven Erlanger, United States doesn’t, “ I’m, Ana Swanson, Donald Trump, haven’t, South Africa John Eligon, Biden —, Harris —, Mexico Natalie Kitroeff, Somini Sengupta Organizations: Trump, U.S, Manufacturing, NATO, The Times, Global, United, Biden Locations: Jerusalem, Israel, Gaza, Iran, Russia, Ukraine, Moscow, United States, America, Europe, China, Beijing, Taiwan, Japan, South Korea, Philippines, India, —, Hungary, Italy, Germany, South Africa, Johannesburg, Africa, Zambia, Indian, Brazil, Ethiopia, BRICS, Mexico, Mexico City, U.S

☆ China has a lot at stake in the US election. So why aren’t they rooting for a winner?
▼ + stars: | 2024-10-31 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

“(It) doesn’t matter who it is (that wins),” one social media user wrote in a popular comment on China’s X-like platform Weibo. “There’s no perfect system, but at least they allow people to question them,” one social media user said on Weibo. Both Harris and Trump have been hot topics on Chinese social media platforms. Harris appeared to be relatively unknown to Chinese social media users prior to becoming the Democratic candidate after Biden’s July withdrawal from the race. But Trump is still seen in Beijing’s policy circles as likely to drive a more fractious relationship with China than Harris would.

Persons: Li Shuo, Kamala Harris, Donald Trump, Trump’s, Joe Biden, Xi Jinping, Brendan Smialowski, hashtag, ”, China’s, “, Harris, Trump, Chuan, “ Trump, can’t, Wu Xinbo, ” Wu, Shi Yinhong, Biden, Vladimir Putin, Wu, Gan Organizations: Hong Kong CNN, CNN, Huawei, Biden, Economic Cooperation, Getty, China Daily, Xinhua, Weibo, American, Communist Party, Democratic, Washington, Center for American Studies, Shanghai’s Fudan University, Renmin University Locations: China, Hong Kong, Beijing, Taiwan, Asia, California, AFP, Weibo, Liberty, United States, US, Europe, Ukraine –, Russia, Shanghai

☆ Founder of TikTok owner ByteDance jumps to top of China’s rich list as number of billionaires shrinks
▼ + stars: | 2024-10-30 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

SHANGHAI — ByteDance founder Zhang Yiming is China’s richest person, with personal wealth of $49.3 billion, an annual rich list showed Tuesday, although counterparts in real estate and renewables have fared less well. Zhang, 41, who stepped down in 2021 as chief executive of ByteDance, the Beijing-based parent company of TikTok, becomes the 18th individual to be crowned China’s richest person in the 26 years since the Hurun China Rich List was first published. He overtook bottled water magnate Zhong Shanshan, who slipped to second place as his fortune dropped 24%, to $47.9 billion. Despite a legal battle over its U.S. assets, ByteDance’s global revenue grew 30% last year to $110 billion, Hurun said, helping to propel Zhang’s personal fortune. The number of billionaires on the list dropped by 142 to 753, shrinking more than a third from its 2021 peak.

Persons: Zhang Yiming, Zhang, China Rich, Zhong Shanshan, Hurun, Pony Ma, Colin Huang, ”, Rupert Hoogewerf, Lei, Hoogewerf Organizations: SHANGHAI, ByteDance, PDD Holdings Locations: Beijing, China

OSHU CITY, Japan — In Oshu, the small rural town where Shohei Ohtani grew up, baseball is as much a part of the landscape as the farmers’ fields and low-rise hills surrounding it. As they watched Game 4, which aired at 9 a.m. Wednesday morning in Japan, Yasuo Sakamoto, 74, and his wife Keiko, 70, wore the Dodgers jerseys and hats they got when they visited Los Angeles this summer to see Ohtani play. “Even at my age, I’m really awed by him,” Yasuo Sakamoto said of Ohtani. “In Japan when there’s news about Ohtani, it’s bright news. The two teams will play Game 5 in the best-of-seven series at Yankee Stadium on Wednesday — and Japan will be watching.

Persons: Ohtani, Ohtani’s, Yasuo Sakamoto, Keiko, I’m, ” Yasuo Sakamoto, it’s, “ They’re, ”, superfan Hironobu Kanno Organizations: CITY, Ohtani, Los Angeles Dodgers, New York Yankees, Dodgers, Yankees, Yankee, League, National League MVP, Major League Baseball Locations: Japan, Oshu, Los Angeles, “, Japan’s Iwake

☆ The E.U. is imposing duties on electric vehicles from China after trade talks fail
▼ + stars: | 2024-10-30 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +3 min

BRUSSELS, Belgium — The European Union is imposing duties on imports of electric vehicles from China starting Wednesday after talks between Brussels and Beijing failed to find an amicable solution to their trade dispute. According to the commission, which manages trade disputes on behalf of the 27 E.U. member countries, sales of Chinese-built electric cars jumped from 3.9% of the EV market in 2020 to 25% by September 2023, in part by unfairly undercutting E.U. Other EV manufacturers in China, including Western companies such as Volkswagen and BMW, would be subject to duties of 20.7%. The measures were published in the bloc’s legal Official Journal late Tuesday, meaning duties entered into force as of midnight, said E.U.

Persons: we’re, Valdis Dombrovskis, undercutting, ’, Hildegard Müller, VDA, ” Müller, E.U, Arianna Podesta Organizations: Trade Organization, SAIC, Geely, Volvo, Britain’s MG, EV, Volkswagen, BMW, China’s Commerce Locations: BRUSSELS, Belgium, China, Brussels, Beijing, Germany

☆ China's Xiaomi delivers 20,000 EVs in October, just months after launching its first car
▼ + stars: | 2024-10-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Chinese smartphone company Xiaomi on Tuesday announced a sports car version of its SU7 electric sedan would begin preorders for the equivalent of more than $110,000. BEIJING — China's Xiaomi said Tuesday that it had delivered more than 20,000 SU7 EVs in October as it ramps up production for its electric car venture in a fiercely competitive market. While Xpeng delivered a monthly record of more than 20,000 cars in September, with about half the sales owed to its newly launched, lower-cost brand Mona, Nio has struggled to keep monthly deliveries above 20,000 cars. Zeekr , an electric car brand founded by automaker Geely, has claimed it produced more than 100,000 vehicles in 1.5 years. Data on other Chinese electric car companies' deliveries for October is expected Friday.

Persons: China's Xiaomi, Xiaomi, Tesla, Xpeng, Nio Organizations: BEIJING, EVs, Geely Locations: China

☆ TikTok’s founder is now China’s richest person. But the country’s total number of billionaires has shrunk
▼ + stars: | 2024-10-30 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +4 min

CNN —China has a new richest person – and it’s the entrepreneur behind the wildly popular, and controversial, app TikTok. Zhang Yiming, 41, co-founder of TikTok’s parent company ByteDance, topped the 2024 Hurun China Rich List, released Tuesday. His wealth reached $49.3 billion, as assessed by research, media and investment group Hurun Inc, which publishes the ranking of the country’s richest people. ByteDance also holds China’s popular news app Toutiao and Douyin, TikTok’s sister app in China. Billionaires on the declineOverall, the number of US-dollar billionaires in China shrank to 753, down 142 from the previous year.

Persons: Zhang Yiming, Zhang’s ascendency, Hurun, TikTok, it’s, –, Zhang, Liang Rubo, ByteDance, Zhong Shanshan, Zhong, Ma, Rupert Hoogewerf, ” Organizations: CNN, Hurun Inc Locations: China, India, Britain, Canada, Australia, Beijing, Hong Kong, Macao, Taiwan

☆ China's warplanes have all but erased the dividing line in the Taiwan Strait, creating a dangerous new normal
▼ + stars: | 2024-10-30 | by ( Chris Panella | ) www.businessinsider.com time to read: +9 min

AdvertisementChina's warplanes are pressuring Taiwan and have all but eliminated an important dividing line, with near-daily incursions creating a dangerous new normal. Since 2020, Taiwan has released regular, almost daily updates on incursions in its air defense identification zone by Chinese military aircraft. In 2021, the Chinese military flew 972 aircraft into Taiwan's ADIZ, and that number nearly doubled in 2022. "We've become desensitized to high numbers of the military aircraft flying across the median line of the Taiwan Strait," Shattuck told Business Insider. AdvertisementChinese incursions are tiring out Taiwan's forcesThe near-daily ADIZ incursions aren't just changing the status quo in the area; they're also exhausting Taiwan's military.

Persons: —, Thomas J, Shattuck, Benjamin Lewis, They're, Nancy Pelosi, We've, hasn't, Lai Ching, of National Defense Yen Teh, Lewis, Lai, Taiwan's, Amanda Hsiao, GAO Organizations: Service, Foreign, Research, deconfliction, Taiwan, Getty, CAP, People's Liberation Air Force, Taiwan's Military News Agency, Anadolu, Getty Images, People's Liberation Army, of National Defense, Democratic Progressive Party Locations: Taiwan, China, AFP, Taiwan Strait, Taiwan's, Getty Images China, Taipei, Washington, Beijing, Taiwan's ADIZ, United States

After months of incremental measures, Chinese President Xi Jinping in late September led a top-level meeting that vowed to "halt the real estate market decline." Earlier this month, the Finance Ministry introduced more measures aimed at stabilizing the real estate sector. Property sales and new home construction are unlikely to stabilize until 2027, Goldman forecast. watch nowS&P Global Ratings and Morgan Stanley this month also published reports forecasting China's real estate market will bottom in the second half of 2025. China's latest efforts to bolster confidence have given the real estate market a lift.

Persons: Xi Jinping, Goldman Sachs, Goldman, Morgan Stanley, Edward Chan, Nomura Organizations: China Vanke Co, Bloomberg, Getty, Finance Ministry, Goldman, China Index Academy, P Global, National Bureau of Statistics Locations: China, Hefei, Beijing

☆ Chinese EV maker BYD’s revenue beats Tesla for first time
▼ + stars: | 2024-10-30 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Beijing (Reuters) — Chinese electric vehicle maker BYD posted an 11.5% rise in third-quarter net profit on Wednesday as it maintained strong sales momentum helped by government trade-in incentives. Net profit rose to 11.6 billion yuan ($1.63 billion) in the July-September quarter, the company said in a stock exchange filing. For the first nine months, net profit was up 18.1% to 25.2 billion yuan. With third-quarter revenue up 24% on year to 201.1 billion yuan ($28.24 billion), BYD’s quarterly revenue for the first time outpaced Tesla, whose revenue for the July-September quarter reached $25.2 billion. Tesla still beat BYD in terms of EV sales globally during July to September.

Persons: BYD, Tesla, Morgan Stanley Organizations: Reuters, Local, BYD Locations: Beijing, China

☆ Eyeing U.S. election, China considers over $1.4 trillion in extra debt over next few years, Reuters reports
▼ + stars: | 2024-10-30 | by ( ) www.cnbc.com time to read: +4 min

The 6-trillion-yuan worth of debt would be raised over three years including 2024, said the sources, adding the proceeds would primarily be used to help local governments address off-the-books debt risks. Local governments would be allowed to raise that amount on top of their usual annual issuance quota, which mainly funds infrastructure spending. The quota stood at 3.9 trillion yuan this year and 3.8 trillion in 2023. The latest move is aimed at enhancing local governments' ability to manage land supply, and alleviate liquidity and debt pressures on both local governments and property developers, they added. Special-purpose bonds are a tool for off-budget debt financing used by Chinese local governments, with the proceeds raised typically earmarked for specific policy objectives, such as infrastructure expenditures.

Persons: Stringer, Donald Trump, it's, Tommy Xie, Trump, Kamala Harris Organizations: Afp, Getty, National People's Congress, Reuters, Information, NPC, Greater, Greater China Research, OCBC Bank, U.S, Trump, Republican, Democratic Locations: Chongqing, China, Beijing, Greater China

☆ The US is in a technological arms race with China, Air Force secretary says, and AI could decide who wins
▼ + stars: | 2024-10-30 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

The focus on advanced technologies has put the two countries into a different kind of arms race. The US Air Force secretary suggested that AI could be decisive in future warfare. On Tuesday, Air Force Secretary Frank Kendall said China has been effectively modernizing the People's Liberation Army, fielding systems with the intent of challenging US forces, especially its high-value combat assets like carriers and satellites. China has built up its Rocket Force, developing capabilities that put US military assets at military bases and airfields across the Indo-Pacific within striking range. The Air Force secretary said that he doesn't think people who say that AI is "going to determine who's the winner in the next battlefield" are "all that far off."

Persons: —, Frank Kendall, Kendall, Xi Jinping, Sarah Weinstein, Giancarlo Casem Organizations: US Air Force, Service, Air Force, People's Liberation Army, Microelectronics, National Semiconductor Technology, PLA, Eastern Theater Command, Weibo, Department of Defense, Rocket Force, Navy, DARPA, USAF, Marines Locations: China, Taiwan, Beijing, Ukraine

The hackers also targeted prominent Democrats including the staff of Senate Majority Leader Chuck Schumer, another source briefed on the matter told CNN. There are no indications anyone was able to access data related to Jared Kushner or his devices, a person familiar with the matter told CNN. The Trump campaign is operating under the assumption that the hackers could still have access to the phone communications they targeted that belong to Trump and Vance, two of the sources said. Given how pervasive the Chinese hacking campaign has been in US telecom networks, some US allies are checking their own computer networks for signs of compromise. The ongoing Chinese hacking campaign means that the next administration — whether Trump or Harris wins — will likely inherit another major cybersecurity incident with big implications for national security.

Persons: Eric Trump’s, Jared Kushner’s, Donald Trump’s, Trump, JD Vance, Harris, Walz, Chuck Schumer, Eric Trump, Kushner, ‘, ’, Eric’s, Lara, Ivanka Trump, Kamala, Biden, Jared Kushner, Vance, ” Sen, Mark Warner, —, Joe Biden, Ted Barrett, Natasha Bertrand, Kaitlan Collins, Kristen Holmes Organizations: CNN, Republican, Democratic, FBI, The New York Times, AT, Verizon, Trump, Investigators, Justice Department, Department of Justice, Huawei, Republican National Committee, Embassy, US, Infrastructure Security Agency, Wall Street Journal, Washington Post, Department of Homeland Security, DHS, Virginia Democrat Locations: Beijing, China, Washington ,, People’s Republic of China, United Kingdom

☆ Goldman Institute calls for ‘data center diplomacy’ as U.S. competes in global AI race
▼ + stars: | 2024-10-29 | by ( Kate Rooney | ) www.cnbc.com time to read: +3 min

"Data may be the new oil, and it's ultimately nations, not nature, that's going to determine the future of AI infrastructure built." AI relies on massive amounts of data for training and gigantic data centers. Despite a slowing economy, Beijing has been investing in AI data centers, and launched a $6.1 billion national initiative called "Eastern Data, Western Computing." The U.S. has its own slate of initiatives, including a task force on AI infrastructure. "The Arab Gulf countries of the Middle East present many promising opportunities for AI data centers," Cohen wrote.

Persons: Goldman Sachs, Jared Cohen, Goldman, Cohen, it's, They've, Anthropic Organizations: Goldman Sachs Global Institute, CNBC, Google, Microsoft, Meta, Computing, United, United Arab Locations: China, Beijing, U.S, Canada, Australia, France, Gulf, OpenAI, United Arab Emirates, Qatar, Saudi Arabia

☆ China is eyeing $1.4 trillion in fiscal stimulus and even more if Trump is elected, report says
▼ + stars: | 2024-10-29 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

China is considering a fresh $1.4 trillion stimulus, Reuters reported. The package could be approved next week and would increase in size if Trump wins the election. The large fiscal stimulus would be increased if Republican nominee and former President Donald Trump wins the US election, the report says. The remaining 4 trillion yuan would be raised by local government bonds and put toward idle land and property purchases, the sources told Reuters. AdvertisementIf Trump is elected, the stimulus package could be higher due to the economic challenges Trump's policies would pose for China, the sources told Reuters.

Persons: Trump's, —, Donald Trump, Trump, he's, Goldman Sachs Organizations: Reuters, Trump, Service, Republican, National People's Congress, China, Wall Locations: China, Beijing

☆ China launches new lending tool before year-end loan expiry
▼ + stars: | 2024-10-29 | by ( ) www.cnbc.com time to read: +2 min

A man looks at his smartphone as he walks past the People's Bank of China building on May 20, 2022 in Beijing. Despite taking effect on Monday, the PBOC did not mention the new tool in its open market operations statement. China's central bank launched a new lending tool on Monday to inject more liquidity into the market and support credit flow in the banking system ahead of the expiration of trillions of yuan in loans at the end of the year. Beijing is counting on massive financial stimulus announced in September to kick-start lending and investment, as a sharp property market downturn and frail consumer confidence weigh on investor confidence. "The central bank's choice to launch this new tool at this time is also expected to be a better hedge against the concentrated expiry of medium-term lending facility before the end of the year," the article added.

Persons: Xu Tianchen Organizations: People's Bank of, Economist Intelligence Unit, European Union, State, Shanghai Securities News Locations: People's Bank of China, Beijing, OMO, United States

☆ Chinese IPOs in the U.S. and Hong Kong are set to increase next year, analysts say
▼ + stars: | 2024-10-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

China News Service | China News Service | Getty ImagesBEIJING — Chinese IPOs in the U.S. and Hong Kong are set to increase next year, analysts said, as some high-profile listings outside the mainland this year raise investor optimism over profitable exits. Last week, Horizon Robotics — a Chinese artificial intelligence and auto chip developer — and state-owned bottled water company CR Beverage went public in Hong Kong. The firm noted that Chinese delivery giant SF Express is planning for a Hong Kong IPO next month, while Chinese automaker Chery aims for one next year. Still, the overall pace of Hong Kong IPOs this year is slightly slower than expected, George Chan, global IPO leader at EY, told CNBC in an interview earlier this month. Hong Kong, then New York

Persons: Pony.ai, Didi, Marcia Ellis, Morrison Foerster, George Chan, Chan Organizations: Nasdaq, China News Service, Getty, U.S, Hong Kong Stock Exchange, CR Beverage, Renaissance, Hong, Chery, CNBC, IPOs Locations: BEIJING, U.S, Hong Kong, China, New York, Mainland China, New

☆ EU slaps tariffs on Chinese EVs, risking Beijing payback
▼ + stars: | 2024-10-29 | by ( ) www.cnbc.com time to read: +4 min

A senior EU official said the extra tariffs had been formally approved on Tuesday. It says China's spare production capacity of three million EVs per year is twice the size of the EU market. Beijing has called the EU tariffs protectionist and damaging to EU-China relations and automotive supply chains, and has launched its own probes this year into imports of EU brandy, dairy and pork products in apparent retaliation. The Commission estimates Chinese brands' share of the EU market has risen to 8% from below 1% in 2019 and could reach 15% in 2025. German carmakers have heavily criticized the EU measures, aware that possible higher Chinese import duties on large-engine gasoline vehicles would hit them hardest.

Persons: Viktor Orban Organizations: European Union, European Commission, China's SAIC, EU, World Trade Organization, Volkswagen, France's PFA, China's, China Passenger Car Association Locations: Huaian, Jiangsu Province, China, Europe, Beijing, United States, Canada, EU, Germany, Hungarian

☆ Alibaba and more: Fund manager gets bullish on 3 China tech stocks — expecting one to double
▼ + stars: | 2024-10-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Hsu, founder and chairman of Rayliant Global Advisors, told CNBC's Pro Talks that Alibaba , JD.com , and Pinduoduo are among his top picks. If signs of consumption growth return to China, he suggested the stock could climb to $200 per share or double from current levels. BABA 1Y line Hsu said he views JD.com similarly to Alibaba, with his preference between the two mainly driven by valuation metrics. PDD Pinduoduo underperformed the broader Chinese stock market this year and has fallen by 14% so far this year. Baidu Not all Chinese technology stocks are equally attractive.

Persons: Jason Hsu, Hsu, CNBC's, BABA, CNBC's Tanvir Gill, JD.com, They've, —, Evelyn Cheng Organizations: Rayliant Global Advisors, Baidu, Alibaba's, Wall Street, China Equity ETF, Google Locations: China, Beijing, Alibaba's New York

☆ Russia, China and Cuba amplified falsehoods about recent hurricanes, U.S. official says
▼ + stars: | 2024-10-28 | by ( Dan De Luce | Dan De Luce Is A Reporter For The Nbc News Investigative Unit. | ) www.nbcnews.com time to read: +2 min

A post on Oct. 9 falsely claimed the U.S. federal government was denying disaster relief funds to Americans. Influencers linked to China have also seized on divisive material about Hurricanes Helene and Milton, claiming without evidence on social media that “U.S. spending on foreign conflicts had undermined support for disaster victims,” the U.S. official said. The revelations from the U.S. official follow recently released research from the London-based Institute for Strategic Dialogue, which tracks disinformation and online extremism. Local, state and federal officials have struggled to counter a wave of disinformation about the hurricanes and their aftermath, including baseless conspiracy theories about weather modification and false claims about disaster relief efforts.

Persons: ”, Milton, Kamala Harris, Hurricane Milton, Eva Marie Uzcategui Organizations: Cuban, U.S, Disney, Hurricanes, The Washington, Getty, U.S ., Strategic, Ukraine, Local Locations: United States, Florida, China, Ukraine, Israel, Taiwan, Sarasota , Fla, Cuba, Moscow, Beijing, London, Russian

The military seized power from the elected government of Aung San Suu Kyi in February 2021, giving rise to intensified fighting with long-established armed groups associated with Myanmar’s ethnic minority groups, and prompting the formation of new pro-democracy militias. Two weeks later the Arakan Army launched attacks in its home western state of Rakhine, and since then other militia groups and PDFs have joined in around the country. But at the same time, resistance groups are closing in on Mandalay, Myanmar’s second-largest city in the center of the country. The Tatmadaw has been accused of deliberately targeting civilians in retribution for perceived support for the resistance militias, something it denies. Should the Tatmadaw fall, that could lead to the fragmentation of Myanmar unless the groups work hard to resolve political and territorial differences.

Persons: Aung, Suu Kyi, Alliance —, ”, Connor Macdonald Organizations: Myanmar National Democratic Alliance Army, Arakan Army, National Liberation Army, Alliance, Council, United Nations ’ Office, Human Rights, Army, Institute for Strategy Locations: BANGKOK, Myanmar, Russia, China, Suu, Shan, Rakhine, Kayah, Naypyidaw, Yangon, Mandalay, Myanmar’s, Chin, Paletwa, Syria, Beijing

The Miami Heat honored Dwyane Wade by unveiling a statue of the basketball legend outside the Kaseya Center in Miami, sealing his legacy with the team and making him the first Heat player with a statue outside the arena. In comments after the unveiling, Wade said he never expected this moment. “The Miami Heat should’ve had a contest where they showed this picture to 1,000 fans — and anyone who guesses it’s Dwyane Wade gets to keep the statue,” Jeff Darlington, a reporter for ESPN, joked on X. Wade is one of two players to have been on all three Miami Heat teams that won NBA championships, according to the NBA. At Sunday's unveiling, Wade was grateful, thanking fans for following his career and adding after the statue reveal, "I believe I gave you guys something set in stone to hold on to."

Persons: Dwyane Wade, Pat Riley, Wade, we're, Omri Amrany, Oscar León, “, “ Wayne Dade, Laurence Fishburne, Miami Heat should’ve, ” Jeff Darlington, ”, Haslem, LeBron James, Chris Bosh, Wade's Organizations: Miami Heat, Kaseya, NBA, ESPN, Chicago Bulls, Cleveland Cavaliers, Heat, Basketball Hall of Fame, Eastern, Beijing, Athens Games, Miami, Detroit Pistons Locations: Miami, Wade

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