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☆ Blinken Hints U.S. May Accept Ukrainian Strikes in Russia With American Arms
▼ + stars: | 2024-05-29 | by ( Edward Wong | ) www.nytimes.com time to read: +1 min

Secretary of State Antony J. Blinken suggested on Wednesday that the Biden administration could be open to tolerating strikes by the Ukrainian military inside Russia, saying that the United States would “adapt and adjust” its stance based on changing conditions on the battlefield. Mr. Blinken said that the United States had neither encouraged nor enabled such attacks. But he said that the Ukrainians needed to make their own decisions on how to best defend themselves — a position he has stated before — and that the U.S. government had “adapted and adjusted as necessary” as the war evolves. When asked by a reporter whether his words meant the United States could support attacks by Ukraine inside Russia, he said, “Adapt and adjust means exactly that.”Since Russia launched its full-scale invasion of Ukraine in February 2022, Washington has sent the Ukrainians military aid but has repeatedly asked that they not fire U.S.-made weapons into Russian territory for fear of escalating the war.

Persons: Antony J, Blinken, Biden, — Locations: Ukrainian, Russia, United States, Ukraine, Washington, U.S

☆ China's $47.5 billion chip fund will likely focus on AI amid U.S. export curbs, NYU professor says
▼ + stars: | 2024-05-29 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Digitally Generated Images Wong Yu Liang | Moment | Getty ImagesChina set up a multibillion-dollar state-backed investment chip fund last week — and one observer says it will likely focus on advanced chips for AI and establishing the entire supply chain. "Fund 3 will focus on [establishing] the total supply chain. watch nowChina has piled 344 billion Chinese yuan ($47.5 billion) into a third investment fund that aims to boost its domestic semiconductor industry amid an escalating technology war with the U.S. The China Integrated Circuit Industry Investment Fund, also known as the National Integrated Circuit Industry Investment Fund and the Big Fund, is part of China's efforts to reduce foreign reliance in its domestic chip industry. The first two funds raised 138.7 billion yuan and 204 billion yuan in 2014 and 2019 respectively.

Persons: Wong Yu Liang, Winston Ma, Ma, CNBC's Organizations: NYU School of Law, U.S, China Integrated Circuit Industry Investment Fund, National Integrated Circuit Industry Investment Fund, Big Locations: China, Netherlands

The Hong Kong and Beijing governments have repeatedly denied the national security law is suppressing freedoms, arguing it has ended chaos and “restored stability” to the city. Since the national security law came into effect in 2020, civil groups have disbanded, and independent media outlets have been shut down. They are the first defendants to be acquitted in a national security law trial in Hong Kong. But that strategy is in doubt after another local national security law enacted earlier this year curtailed access to reduced sentences for guilty pleas. “It’s absolutely clear that the national security law reduced the independence and the autonomy of the judiciary.

Persons: Hong Kong’s, Hong, Gwyneth Ho, Leung Kwok, ”, Lawrence Lau, Lee Yu, –, “, Joshua Wong, Benny Tai, Claudia Mo, Eric Lai, John Burns, Hong Kong Organizations: Hong Kong CNN, Beijing, British, Hong, Hong Kong’s Legislative, Georgetown Center, Asian Law, Communist Party, city’s, University of Hong Locations: Hong Kong, Hong, Beijing, Hong Kong’s, China, University of Hong Kong

☆ Hong Kong to Rule on Democracy Activists in Largest National Security Trial
▼ + stars: | 2024-05-29 | by ( Tiffany May | ) www.nytimes.com time to read: +1 min

A Hong Kong court will begin issuing verdicts on Thursday in the city’s largest national security trial, as the authorities use sweeping powers imposed by Beijing to quash political dissent in the Chinese territory. Most of the defendants have spent at least the last three years in detention ahead of and during the 118-day trial. On Thursday, judges picked by Hong Kong’s pro-Beijing leader were set to start handing down verdicts on 16 of them who had pleaded not guilty. Those who are convicted will be sentenced later, along with 31 others who had entered guilty pleas. The expected convictions and the sentences to follow would effectively turn the vanguard of the city’s opposition, a hallmark of its once-vibrant political scene, into a generation of political prisoners.

Persons: Benny Tai, Joshua Wong, Hong Kong’s Locations: Hong Kong, Beijing

☆ 'We can't simply compare a BYD to a BMW,' says Kingston Securities exec
▼ + stars: | 2024-05-29 | 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 Email'We can't simply compare a BYD to a BMW,' says Kingston Securities execDickie Wong, executive director at Kingston Securities, says although Chinese electric vehicles are more affordable, European carmarkers can compete in other aspects.

Persons: Dickie Wong Organizations: BMW, Kingston, Kingston Securities

☆ Dollar steady ahead of inflation data, yen wobbles
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: +7 min

The dollar was stable on Wednesday on wagers the Federal Reserve is unlikely to cut rates until later this year ahead of crucial inflation readings this week, while the yen drifted to its weakest in four weeks. Market focus this week will be on a slew of inflation reports, with German inflation data due on Wednesday and the wider euro zone's reading on Friday. Market focus this week will be on a slew of inflation reports, with German inflation data due on Wednesday and the wider euro zone's reading on Friday. The pound was 0.13% higher at 200.68 yen, the strongest since August 2008, while the euro touched a one-month high of 170.795 yen earlier in the session. The yen, which is sensitive to Treasury yields, is down 10% for the year against the dollar but may yet scrape a monthly gain in May.

Persons: Sterling, Christopher Wong, Prashant Newnaha Organizations: U.S, Australian, FX, TD Securities Locations: U.S, Tokyo, Asia

☆ China lifts ban on five Australian beef exporters
▼ + stars: | 2024-05-29 | by ( ) edition.cnn.com time to read: +2 min

Sydney —China has lifted bans on imports from five major Australian beef processing facilities, the Australian government said on Thursday, in the latest sign of improving relations between the two nations. The bans applied to certain abattoirs but did not affect others, which meant Australia was still able to ship beef to China. China was Australia’s second-biggest beef export market last year, receiving 240,000 tons worth around $1.6 billion, Australian trade data shows. They said China’s trade impediments at their height impacted Australian exports worth 20.6 billion Australian dollars ($13.6 billion). The reasons China gave for suspending the Australian beef processors were issues over labeling or contamination or cases of COVID-19 among their workers.

Persons: ”, Matt Dalgleish, Dalgleish, “, Penny Wong, Don Farrell, Murray Watt Locations: Sydney — China, Beijing, China, Australia, Canberra, United States

☆ Gold steady as focus turns to U.S. inflation data
▼ + stars: | 2024-05-28 | by ( ) www.cnbc.com time to read: +2 min

Gold prices held steady on Tuesday as the dollar eased, while investors looked forward to key U.S. inflation data that could offer clues on how soon the Federal Reserve can cut interest rates. Gold prices held steady on Tuesday as the dollar eased, while investors looked forward to key U.S. inflation data that could offer clues on how soon the Federal Reserve can cut interest rates. Spot gold was flat at $2,350.85 per ounce, as of 0350 GMT, after rising about 1% in the previous session. Fed meeting minutes released last week showed that the policy response, for now, would involve maintaining the benchmark policy rate at its current level but also reflected discussions of possible further hikes. Bullion is known as an inflation hedge, but higher rates increase the opportunity cost of holding non-yielding gold.

Persons: Kelvin Wong, Wong Organizations: Asia Pacific, Fed Locations: U.S, OANDA

William J. Burns, the C.I.A. This month, frustration boiled over between officials from Hamas and Israel, and the countries mediating — the United States, Qatar and Egypt — put the talks on hold. Israeli officials were upset with what they saw as shifting negotiating stances by Hamas, including the number of hostages to be released in a first phase. Hamas was upset by Israel’s operations in Rafah, the southern Gazan city, which have been progressing since. But core to the dispute were disagreements over how to define a cessation of hostilities between Hamas and Israel, and how different stages of the cease-fire would be put into effect.

Persons: William J, Burns, Egypt — Organizations: U.S Locations: Gaza, Europe, Israel, United States, Qatar, Egypt, Rafah, Gazan

☆ Ex-Reddit CEO says tech giants are shipping subpar products because they are obsessed with winning the AI race
▼ + stars: | 2024-05-23 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Ex-Reddit CEO Yishan Wong says tech giants are obsessed with AI but shipping bad products. "The big internet giants are in a state of memetic competition over AI," Wong said. Wong said tech companies are forcing everyone to use their LLM-powered products. AdvertisementTech giants are letting their obsession with AI affect the quality of the products they're launching, former Reddit CEO Yishan Wong said on Wednesday. "This is leading to all of them integrating LLM-powered AI into their products, but the AI sometimes gives flawed answers, which is problematic in products where the existing quality/accuracy expectation was higher," Wong continued.

Persons: Yishan Wong, Wong, — Organizations: Service, Tech

☆ Island time: Why some resorts in the Maldives move their clocks ahead an hour
▼ + stars: | 2024-05-20 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +6 min

Many resorts move their clocks at least one hour ahead of the country’s official time zone – which is five hours ahead of Greenwich Mean Time (GMT+5). The JW Marriott is one of four Maldives properties under the Marriott Group umbrella, alongside St. Regis Maldives Vommuli Resort, the Westin Maldives Miriandhoo Resort and the Ritz-Carlton Maldives, Fari Islands. Video Ad Feedback Inside one of the Maldives' most luxurious resorts 02:30 - Source: CNNSoneva, another luxury resort group with multiple properties around the Maldives, also sets the clocks at its resorts an hour ahead of Male Time. Not every island resort follows island timeVideo Ad Feedback Flying with the barefoot pilots of the Maldives 02:31 - Source: CNNNot every resort in the Maldives follows island time. “Here at Kurumba Maldives we don’t use island time and never have, simply because as the first resort in the Maldives the concept of island time didn’t exist,” says Ali Farooq, resort manager at Kurumba, which opened in 1972.

Persons: Mohit Dembla, Matteo Colombo, ”, Zhilah Vego, CNN Soneva, Soneva Jani, Jani Time, Charles Morris, “, –, Regis, Ali Farooq, Marriott’s Organizations: CNN, JW, Spa, CNN Travel, Marriott, Marriott Group, St, Regis, Westin, Ritz, Carlton Maldives, GM, ” Staff, Maldives ’, butlers, Kurumba, Velana International Locations: Maldives, Greenwich, Regis Maldives, Westin Maldives, Fari Islands, Beach, Maldivian, St, Kurumba Maldives, Kurumba, Malé

☆ New Caledonia riots: Australia, New Zealand send evacuation flights after week of deadly violence
▼ + stars: | 2024-05-20 | by ( ) edition.cnn.com time to read: +2 min

Sydney/Wellington —Australia and New Zealand said they will send government planes to New Caledonia on Tuesday to evacuate nationals from the French territory which has experienced a week of deadly riots, sparked by electoral changes by the French government in Paris. France’s High Commission in New Caledonia said on Tuesday the airport remains closed for commercial flights, and it will deploy the military to protect public buildings. There were around 3,200 people waiting to leave or enter New Caledonia as commercial flights were canceled due to the unrest that broke out last week, the local government has said. Theo Rouby/AFP/Getty ImagesNew Zealand, French and Australian foreign ministers held a call on Monday evening, after New Zealand and Australia said they were waiting for clearance from French authorities to send defense aircraft to evacuate tourists. “New Zealanders in New Caledonia have faced a challenging few days – and bringing them home has been an urgent priority for the government,” New Zealand Foreign Minister Winston Peters said.

Persons: Theo Rouby, Winston Peters, “, Penny Wong Organizations: Sydney, Wellington —, Commission, Getty, New, ” New Zealand Foreign, Australia’s Locations: Wellington, Wellington — Australia, New Zealand, New Caledonia, Paris, France’s, France, Normandy, Noumea, AFP, Zealand, Australia, “, Zealanders, Nouméa, ”

☆ Brooklyn Protest Raises Doubts About N.Y.P.D. Commitment to New Tactics
▼ + stars: | 2024-05-20 | by ( Maria Cramer | ) www.nytimes.com time to read: +1 min

Last September, the New York Police Department signed a sweeping agreement in federal court that was meant to end overwhelming responses to protests that often led to violent clashes, large-scale arrests and expensive civil rights lawsuits. The sight of hundreds of officers in tactical gear moving in on pro-Palestinian demonstrators in Bay Ridge, Brooklyn, on Saturday suggested to civil libertarians that the department might not abide by the agreement when it is fully implemented. At least two officers wearing the white shirts of commanders were filmed punching three protesters who were prone in the middle of a crosswalk. And film clips of recent campus protests showed some officers pushing and dragging students, a handful of whom later said they had been injured by the police, though many officers appeared to show restraint during the arrests. “I think members of the public are very concerned that the police will be unwilling or unable to meet their end of the bargain,” said Jennvine Wong, a staff attorney with Legal Aid, which, along with the New York Civil Liberties Union, filed a lawsuit against the city over the department’s response to protests in 2020 after the killing of George Floyd.

Persons: ”, Jennvine Wong, George Floyd Organizations: New York Police Department, Legal, New, Civil Liberties Union Locations: Bay Ridge, Brooklyn

☆ What Donald Trump might do if he wins a second term in 2024
▼ + stars: | 2024-05-20 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +11 min

Read previewIn January 2025, Donald Trump may be sworn into office as the 47th President of the United States. Another Trump term, on the other hand, would likely entail a radical reversal from not just the previous four years, but even from Trump's first term in office. While not exhaustive, here's just some of what to expect in a second Trump administration. Miller told The New York Times that a second Trump administration would build "vast holding facilities that would function as staging centers" on "open land in Texas near the border." According to Bloomberg, Trump wants to extend those cuts in a second term.

Persons: —, Donald Trump, Joe Biden, Biden, Trump, Trump's, That's, mifepristone, Stephen Miller, Miller, Alex Wong, Nixon, shouldn't, he's, Israel, there's Organizations: Service, Business, Trump, The New York Times, Heritage Foundation's, Senate, Federal Communications Commission, Federal Trade Commission, Federal Reserve, Congress, TIME, Republican, National Guard, United, Department of Justice, Capitol Police, Atlantic Treaty Organization, State Department, Pentagon, Bloomberg, American, Security, Social Security, CNBC Locations: United States, Texas, CPAC, China, Ukraine, Gaza, Israel, Europe, Washington ,

☆ U.S. and Iranian Officials Held Indirect Talks in Oman on Risks of a Wider War
▼ + stars: | 2024-05-18 | by ( Edward Wong | More About Edward Wong | ) www.nytimes.com time to read: +1 min

Senior American and Iranian officials held talks through intermediaries in Oman this past week, the first such conversations since Iran launched a retaliatory attack on Israel with hundreds of missiles and drones last month, according to a person familiar with the recent meetings. Brett McGurk, the top White House official on Middle East policy, and Abram Paley, the deputy special envoy for Iran, attended the talks in Oman. Since the Israel-Hamas war broke out, several Iran-backed militias in Iraq and Syria have stepped up attacks on American troops, raising fears of a wider war. However, U.S. intelligence officials assess that neither Hezbollah nor Iran wants to engage in a wider war. The format of the talks in Oman was similar to ones held in January: The Americans sat in one room while their Iranian counterparts sat in another, and Omani officials shuttled between the rooms.

Persons: Brett McGurk, Abram Paley, Axios Organizations: White, Hamas, United Locations: Oman, Iran, Israel, Iraq, Syria, Lebanon, United States

☆ Israel Resists Grand Bargain as U.S. and Saudis Work on Security Pact
▼ + stars: | 2024-05-17 | by ( Edward Wong | Vivian Nereim | ) www.nytimes.com time to read: +1 min

Two years into President Biden’s term, his aides began negotiating with Saudi leaders to have the kingdom establish diplomatic relations with Israel. But when the Israel-Hamas war began last October, the talks withered. American and Saudi officials have tried to revive prospects for a deal by demanding more from Israel — a cease-fire in Gaza and irreversible steps toward the founding of a Palestinian nation. Now those officials say they are close to a final agreement on the main elements of what the Saudis want from the deal: a U.S.-Saudi mutual defense pact and cooperation on a civilian nuclear program in the kingdom. And Jake Sullivan, the White House national security adviser, is expected to follow up when he goes to Saudi Arabia and Israel this weekend.

Persons: Biden’s, Israel —, Antony J, Blinken, Prince Mohammed bin Salman, Jake Sullivan Organizations: Saudi, Hamas, State Department, White House Locations: Israel, Gaza, Palestinian, U.S, Saudi, Riyadh, Saudi Arabia

☆ Here's the deflation breakdown for April 2024 — in one chart
▼ + stars: | 2024-05-16 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Consumers have largely seen prices deflate for physical goods, such as cars, furniture and appliances, economists said. They've also declined for some groceries and other things, such as travel, according to the consumer price index. Physical goods prices have deflated in all but one month since May 2023, for example. watch nowThe U.S. dollar's strength relative to other global currencies has also helped rein in prices for goods, economists said. Downward pressure on goods prices has waned a bit in recent months as supply-and-demand dynamics have normalized, economists said.

Persons: Oscar Wong, They've, they've, Michael Pugliese, Stephen Brown, Mark Zandi, Zandi, Hayley Berg, Hopper, There's, Brown Organizations: Consumers, Wells, Wells Fargo Economics, North, Capital Economics, Finance, GameStop, AMC, U.S, Federal Reserve, Canadian, Moody's, Airlines Locations: Wells Fargo, North America, U.S

☆ Singapore’s Lawrence Wong sworn in as new prime minister — the first leadership change in 20 years
▼ + stars: | 2024-05-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

Lawrence Wong was sworn in on May 15 as Singapore's new prime minister, after Lee Hsien Loong stepped down following two decades in office. Edgar Su | Afp | Getty ImagesSINGAPORE — Singapore's Lawrence Wong was inaugurated as the city-state's fourth prime minister on Wednesday, taking over from former prime minister Lee Hsien Loong, who has led Singapore for 20 years. Trade and industry minister Gan Kim Yong will be promoted to deputy prime minister and work alongside current DPM Heng Swee Keat. Lee, the eldest son of Singapore's founding Prime Minister Lee Kuan Yew, announced last month he will hand over power to the new prime minister in mid-May. Wong also served as principal private secretary to then prime minister Lee Hsien Loong from 2005 to 2008.

Persons: Lawrence Wong, Lee Hsien Loong, Edgar Su, Singapore's Lawrence Wong, Lee, Gan Kim Yong, Heng, Kim Yong, Swee Keat, Wong, Gan, Ong Ye Kung, helming, Singapore's, Lee Kuan Yew Organizations: Afp, Getty, SINGAPORE, Trade, Monetary Authority of, Party Locations: Singapore, Monetary Authority of Singapore, Gan

☆ Singapore law professor discusses biggest challenges the country's new prime minister will face
▼ + stars: | 2024-05-15 | 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 EmailSingapore law professor discusses biggest challenges the country's new prime minister will faceEugene Tan, associate professor of law at Singapore Management University, discusses the issues that incoming Singapore Prime Minister Lawrence Wong will have to address. Wong will be sworn in on Wednesday.

Persons: Eugene Tan, Lawrence Wong, Wong Organizations: Singapore, Singapore Management University

☆ This year's biggest air battles are showing the US what it could need most in a missile war with China
▼ + stars: | 2024-05-15 | by ( Jake Epstein | Chris Panella | ) www.businessinsider.com time to read: +13 min

AP Photo/Evgeniy Maloletka, FileThe war has shown how effective air defenses can be at denying air superiority, protecting key areas, and threatening high-value aircraft, as well as the costs when capabilities are degraded. Ukraine's air defenses, like its Soviet-era S-300s and US-supplied Patriots, have defeated enemy missile and drone strikes, hindered Russian air operations, and shot down numerous fighter-bombers and other Russian planes. "Ukraine and NATO might reduce risks with a two-prong strategy of strengthening air defenses and boosting infrastructure resilience." Needing more interceptors for the PacificFrom the fights this year, the US can see how it'll need to employ air defenses in a potential showdown with China. Running out of air defenses before the enemy runs out of air threats spells trouble.

Persons: —, Bradley Martin, Evgeniy, Volodymyr Zelenskyy, Firefighters, Archer Macy, Martin, Shaan Shaikh, We've, Amir Cohen TPX, Shaikh, it's, Andy Wong, Thomas Shugart, Shugart, Joshua Smoot, Heath Collins, Navy Carlos Del Toro, Macy, Mark Wright Organizations: Service, Business, US Navy, Ukraine, AP, Patriots, Institute for, Emergency, Ministry, RAND Corporation, NATO, Western, Central Command, Combat, Navy, RAND, Patriot, US, Missile Defense, Center for Strategic, International Studies, REUTERS, China, Pentagon, Defense, Center, New, Air Force, 37th Expeditionary Bomb Squadron, Andersen Air Force Base, US Air Force, Aegis, Missile Defense Agency, Former Navy, CSIS, Pacific Missile, AP Air Locations: China, Ukraine, Israel, Navy, Russia, Congress, Avdiivka, Kharkiv, Russian, Kyiv, NATO, Yemen, Gulf of Aden, Iran, Red, Screengrab, French, Ashdod, South Korea, Japan, Guam, Beijing, New American, Gen, Kauai, Hawaii

☆ Singapore’s Riches Grew Under Its Leader. So Did Discontent.
▼ + stars: | 2024-05-14 | by ( Sui-Lee Wee | ) www.nytimes.com time to read: +1 min

He made Singapore even more prosperous by largely following the semi-authoritarian and free-market model pioneered by his father, Lee Kuan Yew, the country’s first leader. On Wednesday, Singapore gets a new leader for the first time in nearly 20 years. But there are concerns that the vaunted “Singapore model” is failing more and more people. Singapore is one of the most expensive cities in the world, but it does not have a minimum wage. The strains are exacerbated by the need for overseas workers; about 40 percent of Singapore’s nearly six million people are not citizens.

Persons: Taylor Swift, Lee Hsien Loong, Lee Kuan Yew, Lee, Lawrence Wong Locations: Singapore, United States

☆ Meet the group preparing for a Soviet Union-type collapse of the US economy
▼ + stars: | 2024-05-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the people preparing for the collapse of the financial system . The big storyPreparing for the worstAdobe; Chelsea Jia Feng/BIOpinions fluctuate on the economy, but one group has a decidedly strong take. In the subreddit r/economiccollapse, users are preparing for a Soviet Union-type fall of the US economy , writes Business Insider's Jennifer Sor. Further down the economic totem pole, ALICEs (asset limited, income constrained, employed) are struggling to make ends meet . 3 things in techAlex Wong/Getty Images, STR / Contributor/Getty Images, Stephane De Sakutin/Contributor/Getty Images, Abanti Chowdhury/BIHow Mark Zuckerberg turned against the news.

Persons: —, Chelsea Jia Feng, Jennifer Sor, Jennifer, aren't, Tyler, there's, Neil Dutta, Jim Simons, annualized, Alex Wong, Stephane De Sakutin, Abanti Chowdhury, Mark Zuckerberg, Zuckerberg, Rupert Murdoch, Sam Altman, Alyssa Powell, Rick Doblin, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, Chelsea, Macro, Renaissance Technologies, Big Tech, Apple, FDA, FOX Locations: Soviet Union, China, Washington, Beijing, New York, London, Chicago

☆ Apple, Tesla and Starbucks struggle in China’s economic slump after making a fortune for decades
▼ + stars: | 2024-05-13 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —For decades, Western companies made a fortune betting on the inexorable rise of the Chinese consumer. Now an economic slump and the emergence of ferocious local competitors means those bets look less safe as price wars erupt. Tesla’s China market share shrank to 4% in April, almost halving from 7.7% in March, according to data released by the China Passenger Car Association on Friday. In the 1990s, “every company in the West” was hiring consultants and having boardroom meetings about how to do more in China, according to Stevenson-Yang. He added that he continues to feel optimistic about the Chinese market in the long term.

Persons: ”, Anne Stevenson, Yang, Stevenson, aren’t, Yang Wang, Kevin Frayer, Tim Cook, iPhones, Cotti, Luckin, Belinda Wong, “, McDonald’s, Wallace Organizations: Hong Kong CNN, China Passenger Car Association, J Capital Research, EV, Apple, Starbucks, Counterpoint Research, Macao —, Huawei, China Academy of Information, Communications Technology, Luckin Coffee, McDonalds, KFC, Burger Locations: China, Hong Kong, Shanghai, United States, Germany, Brazil, Beijing, Greater China, Taiwan, Macao, Starbucks China, Dominos, India

☆ Singapore's incoming PM Wong appoints new deputy PM in minor reshuffle
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

Singapore's Finance Minister Lawrence Wong will be promoted to deputy prime minister, in a cabinet reshuffle announced on June 6. Singapore's incoming prime minister Lawrence Wong announced a minor cabinet reshuffle on Monday ahead of assuming the top post later this week, with the biggest change the promotion of the trade minister to become his deputy, local media reported. Trade Minister Gan Kim Yong, 65, was given the additional title of deputy prime minister and was made Wong's replacement as chair of the central bank, media said. Wong will take over the premiership from Prime Minister Lee Hsien Loong, 72 on Wednesday. Wong will become only the fourth prime minister of the 59-year-old nation, which has been ruled by one party since 1959.

Persons: Lawrence Wong, Gan Kim Yong, Wong, Lee Hsien Loong Organizations: Singapore's, Trade

Donald Trump upended decades of American policy when he started a trade war with China. Many thought that President Biden would reverse those policies. Instead, he’s stepping them up. Jim Tankersley, who covers economic policy at the White House, explains.

Persons: Donald Trump, Biden, Jim Tankersley Organizations: White Locations: China

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