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☆ China and India should manage their differences, Xi tells Modi in first formal talks in 5 years
▼ + stars: | 2024-10-24 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +4 min

India and China, two of the world’s biggest economies, have maintained strong trade ties despite the military and diplomatic tensions. India said the two leaders have directed their officials to take further steps to stabilize all aspects of bilateral ties. Modi put forward ideas for improving and developing bilateral relations, to which Xi agreed in principle, CCTV added without elaborating. Modi and Xi had not held formal bilateral talks since then, although both participated in multilateral events. Their last bilateral summit talks were held in October 2019 in the southern Indian town of Mamallapuram.

Persons: Xi Jinping, Narendra Modi, Modi, Xi, ” Modi, Vikram Misri, ” Organizations: Indian, CCTV, Doordarshan, Mutual, New Locations: Russia, India, China, Kazan, New Delhi, Beijing, Ladakh, Mamallapuram, Bali, Johannesburg

☆ Biden makes clear AI can’t launch nukes as he looks to harness new technology’s power
▼ + stars: | 2024-10-24 | by ( Kevin Liptak | ) edition.cnn.com time to read: +3 min

The new national security memorandum, issued in the final months of Biden’s term, seeks to strike a balance between deploying AI’s powerful potential with protecting against some of its fearsome possibilities. For example, the document prohibits use of AI to skirt existing protocols around deploying nuclear weapons. Revealing the new parameters during a speech at the National War College, Biden’s national security adviser Jake Sullivan framed the stakes of managing the rise of AI. Biden administration officials believe rapidly developing AI tools will set off new competition between world powers. While largely developed in the United States, countries like China are swiftly applying the technology in military and civilian settings.

Persons: Joe Biden, Biden, Jake Sullivan, ” Sullivan, It’s, Donald Trump, Kamala Harris, ” Organizations: Washington CNN, National War College, US Locations: China, London, United States, Beijing

☆ As North Korea, Iran and China support Russia’s war, is a ‘new axis’ emerging?
▼ + stars: | 2024-10-24 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +11 min

The remains of an unidentified missile, which Ukrainian authorities claimed to be made in North Korea, is seen at a site of a Russian strike in Kharkiv, Ukraine on January 2. China, Russia and Iran have also held four joint naval drills since 2019, and China is by far Iran’s largest energy buyer. Beijing also carefully manages its relationship with North Korea – which is almost wholly economically and diplomatically dependent on China. “Russia, North Korea, Iran is the type of grouping that China least wants to openly associate itself with,” said Tong Zhao, a senior fellow at the Carnegie Endowment for International Peace. An Iranian military boat patrols ahead of the start of a joint naval drill of Iran, Russia and China in the Indian Ocean in May.

Persons: They’ve, Lloyd Austin, George W, Bush’s, ”, Kim Jong, Kim, there’s, what’s, Bashar al, Assad, Israel –, Xi Jinping, Putin, Alex Gabuev, Sofiia Gatilova, Xi, Loup, “, Tong Zhao, Zhao, Sydney Seiler Organizations: Hong Kong CNN, Korean, Moscow’s, US, North, West, Carnegie Russia Eurasia Center, China’s, National University of Singapore’s Middle East Institute, Carnegie Endowment, International Peace, Iranian Army, AP, UN, National Defense Strategy, NATO, Center for Strategic, International Studies Locations: Hong Kong, Russia, Ukraine, United States, Tehran, China, Iran, North Korea, Washington, Europe, Pacific, Nazi Germany, Fascist Italy, Imperial Japan, Iraq, South Korea, Pyongyang, Syria, Beijing, Moscow, Berlin, Kharkiv, Kazan, Israel, Jean, South, Taiwan, “ Russia, ”, Iranian, Asia, Australia, Japan, New Zealand, North Asia, Sydney

☆ Chinese smartphone maker Oppo doubles down on AI, says in regular talks with Google and Microsoft
▼ + stars: | 2024-10-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Chinese smartphone company Oppo ranks second in mainland China, and fourth worldwide, according to Canalys. Nurphoto | Nurphoto | Getty ImagesBEIJING — Chinese smartphone company Oppo is doubling down on artificial intelligence as it holds weekly talks about AI with senior management at Google and Microsoft in the run-up to the launch of its flagship phone overseas. The rise of generative AI — tech that can produce human-like responses when prompted — has companies from Apple to Honeywell rushing to tap its capabilities. AI smartphones set for growthOppo in June announced it plans to integrate generative AI in 50 million of its devices this year. Apple next week is due to publicly release its first software update with AI tools.

Persons: —, Billy Zhang, Zhang, Xiaomi, Oppo Organizations: Nurphoto, Getty, Google, Microsoft, Apple, Honeywell, CNBC, Samsung, Tech Locations: China, BEIJING, Shenzhen, Europe, Southeast Asia, U.S

☆ Firefly fossil reveals a previously undiscovered species that flickered during the time of dinosaurs
▼ + stars: | 2024-10-24 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +5 min

And now scientists have confirmed a new one: Diverse firefly species lit up the night during the late Mesozoic. The discovery comes from a fossil of an ancient firefly species that was initially discovered in 2016, trapped in 99 million-year-old Burmese amber from northern Myanmar. The beetle is only the second firefly species from the Mesozoic to be identified. Because only one other Cretaceous firefly species has been identified, “this new species can be used to revisit the (July 2022 study) to better date the evolution of fireflies given the new evidence,” he added. Firefly diversityThere are more than 2,000 firefly species found today, according to the Natural History Museum in London.

Persons: Flammarionella, ”, Chenyang Cai, Cai, Oliver Keller, Ann Arbor, ” Keller, Keller, Camille Flammarion, Robin Kundrata, Kundrata, ” Kundrata Organizations: CNN, Royal Society, Biological Sciences, Nanjing Institute of Geology, Chinese Academy of Sciences, University of Michigan, Palacký University Olomouc Locations: Myanmar, Beijing, Ann, London, Czech Republic

☆ Taiwan says Chinese blockade would be act of war after ‘Joint Sword-2024B’ military drills
▼ + stars: | 2024-10-23 | by ( Story Reuters | ) edition.cnn.com time to read: +4 min

China’s latest war games around the island, carried out last week, included simulating blockading key ports and areas, and assaulting maritime and ground targets, Beijing said. “The international community could not sit by and just watch.”While those war games last only a day, Chinese military activity has continued. This screen grab from a video released by the Taiwan Coast Guard shows a China Coast Guard boat from a Taiwan Coast Guard boat as it passes near the coast of Matsu islands, Taiwan on Monday, Oct. 14, 2024. The Liaoning was involved in those same Chinese war games last week near Taiwan. Taiwan and the United States dispute that, saying the Taiwan Strait is an international waterway.

Persons: Wellington Koo, China’s, Koo, ”, “ Organizations: Taiwan Reuters, Defense, Nations, Taiwan Coast Guard, China Coast Guard, AP Carrier, Taiwan’s Defense, China’s Defense Ministry, US Navy Locations: Taipei, Taiwan, China, Beijing, Taiwan Strait, Matsu, Liaoning, South China, Japan, United States, Canada, Germany, Britain

☆ U.S., China trade tariffs escalating would be 'costly for everybody,' IMF deputy director says
▼ + stars: | 2024-10-23 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

An escalation of trade and tariffs tensions between the U.S. and China would have "costly" economic consequences around the world, Gita Gopinath, deputy managing director of the International Monetary Fund told CNBC on Wednesday. The U.S. and China are trading with one another less, and some parts of their trade is being re-routed through other countries, she added. Trade tensions between the U.S. and China and the European Union and China have been mounting this year, with both the U.S. and EU implementing higher tariffs on some Chinese goods over what they claim are unfair trade practices from Beijing. China has also announced higher temporary tariffs on some imports from the EU as the tit-for-tat measures continue. If tariffs were escalated, modelling from the IMF suggests it would be "costly for everybody," Gopinath told CNBC's Karen Tso on the sidelines of the agency's annual meeting in Washington.

Persons: Gita Gopinath, Gopinath, Karen Tso, that's Organizations: U.S, International Monetary Fund, CNBC, European Union Locations: China, U.S, Beijing, Washington

☆ Harvey Weinstein diagnosed with cancer and LeBron could make NBA history with son Bronny: Morning Rundown
▼ + stars: | 2024-10-22 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +9 min

And LeBron James and his son Bronny could make NBA history tonight. LeBron James and son Bronny set to mark an NBA firstLeBron James talks to his son, Bronny James during the Los Angeles Lakers' preseason game against the Golden State Warriors on Oct. 18. While fans are in for months of exciting matchups, one of the season’s most anticipated moments could come tonight, during the Los Angeles Lakers’ game against the Minnesota Timberwolves. It’s possible LeBron James, entering his record-tying 22nd season, will play alongside his oldest son Bronny James — a first in NBA regular-season history. Read more about Bronny James’ potential NBA debut.

Persons: Harris, Harvey Weinstein, LeBron James, Bronny, Adek Berry, Xi Jinping, Kamala Harris, Joe Biden, ”, Brian Wong, Donald Trump, Jia Qingguo, Wong, Jia, Trump, ➡️ Trump, McDonald’s, ➡️, Usha Vance, JD Vance’s, Elon Musk, Tim Sheehy, hasn’t, Andrew Kelly, Weinstein, Bronny James, Ezra Shaw, Bronny James —, Andrew Greif, 🏀, ronny o, ake, ronny, akers, deb, Tex, sy, mak, Dod, gam, tod Organizations: U.S, Trump, Getty, University of Hong Kong’s, Contemporary, School of International Studies, Peking University, “, ➡️, Democratic, White, NBC, Republican, NBA, Los Angeles Lakers, Golden State Warriors, Minnesota Timberwolves, e, pla Locations: China, U.S, AFP, Beijing, Contemporary China, Taiwan, Trump, Montana, New York, York

☆ India says it has reached deal with China to resolve border conflict
▼ + stars: | 2024-10-22 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

NEW DELHI, India — India and China have reached a deal on patrolling their disputed frontier to end a four-year military stand-off, the Indian foreign minister said Monday, paving the way for improved political and business ties between the Asian giants. India’s tougher vetting of all Chinese investment after the clashes effectively turned away billions of dollars from the likes of carmakers BYD and Great Wall Motor, and added more red tape in Indian companies’ interactions with Chinese stakeholders. However, Indian imports from China have surged 56% since the 2020 border clash, nearly doubling New Delhi’s trade deficit with Beijing to $85 billion. China remains India’s biggest source of goods and was its largest supplier of industrial products last year. Asked about the impact of Monday’s pact on trade with and investment from China, Jaishankar said: “It has just happened.

Persons: Narendra Modi’s, Xi Jinping, Subrahmanyam Jaishankar, ”, Modi, Xi, Deependra Singh Hooda, carmakers BYD, Jaishankar Organizations: Indian, NDTV, ” Authorities Locations: DELHI, India, China, Russia, Ladakh, Beijing, New Delhi

Consistent with U.S. policy, Harris has also declined to say whether she would use military force to defend Taiwan. Instead she emphasizes the importance of military communications with China and supporting Taiwan’s ability to defend itself. Tariff talkThough Trump talks far more about China on the campaign trail than Harris does, neither of them have said much about how they would manage ties with Beijing. Biden has maintained and in some cases expanded tariffs on Chinese imports that Trump introduced as president, citing national security concerns. If she wins, Harris is expected to continue Biden’s targeted tariffs and restrictions on key Chinese tech sectors.

Persons: Trump, Xi, Harris, Biden, Wu Xinbo, ” Organizations: Washington, Wall Street, United States ’, Beijing, Trump, Peterson Institute for International Economics, Center for American Studies, Fudan University, “, Asia Society Policy Institute Locations: Taiwan, China, Ukraine, Washington, Asia, Shanghai, U.S

☆ China holds live-fire drills that Taiwan says may be part of ‘deterrence’
▼ + stars: | 2024-10-22 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +1 min

TAIPEI, Taiwan — Taiwan’s defense ministry said Tuesday that live-fire Chinese drills in a province facing the island are routine annual exercises but also possibly part of China’s “deterrence effect” in the waters of the Taiwan Strait. China’s Maritime Safety Administration, in a notice late Monday, said an area around Niushan island in Fujian province would be closed off for four hours starting at 9 a.m. Tuesday (9 p.m. Monday ET) for live-fire drills. Taiwan’s defense ministry said in a statement that those exercises were part of routine Chinese training and were being closely monitored. “No matter how large the scale of the drill is, they should not be frequent and close to Taiwan,” he said. China detests Taiwan President Lai Ching-te, who took office in May, as a “separatist” and has rebuffed his calls for talks.

Persons: Niushan, Cho Jung, ”, Lai Ching, Lai Organizations: Safety Administration Locations: TAIPEI, Taiwan, Taiwan Strait, Niushan, Fujian, China, Beijing, Taipei

☆ India and China have struck a deal that could ease tension along its disputed border
▼ + stars: | 2024-10-22 | by ( Simone Mccarthy | Aishwarya S Iyer | ) edition.cnn.com time to read: +5 min

CNN —India and China have reached an agreement on military disengagement along their disputed border, New Delhi said, a step toward reducing frictions between the nuclear-armed neighbors that comes as both countries’ leaders arrive in Russia for a summit. Both foreign ministries declined to comment on whether the two leaders would hold formal one-on-one talks in Kazan. ‘A positive development’The violence in 2020 was followed by a process of disengagement and border talks, but friction points have remained, including areas where both sides previously patrolled but have since become so-called buffer zones. However, even with that restoration, there are other steps that would need to be taken in a long process along the disputed border. “There are many other issues of de-induction and de-mobilization of troops on both sides; infrastructure that has been built, etc.

Persons: Subrahmanyam Jaishankar, Xi Jinping, Narendra Modi, Aksai Chin, Modi, ”, ” Jaishankar, Lin Jian, Beijing “, It’s, Manoj Kewalramani Organizations: CNN, Indian, People’s Liberation Army, PLA, India’s Ministry of Defense, NDTV, India’s, Affairs, Foreign Ministry, Takshashila Locations: India, China, New Delhi, Russia, Beijing, Kazan, Ladakh, Johannesburg, Indian, Bangalore

☆ Oil prices trim Middle East war risk-gains, China demand remains a worry
▼ + stars: | 2024-10-22 | by ( ) www.cnbc.com time to read: +3 min

Oil prices fell on Tuesday, paring the previous day's nearly 2% rise as the top U.S. diplomat renewed efforts to push for a ceasefire in the Middle East, and as slow demand in China, the world's top oil importer, continued to weigh on the market. Oil prices fell on Tuesday, paring the previous day's nearly 2% rise as the top U.S. diplomat renewed efforts to push for a ceasefire in the Middle East, and as slow demand in China, the world's top oil importer, continued to weigh on the market. "Crude oil prices have been fluctuating in response to mixed news from the Middle East, as the situation alternates between escalation and de-escalation," Satoru Yoshida, a commodity analyst with Rakuten Securities. U.S. Secretary of State Antony Blinken headed to the Middle East on Monday seeking to revive talks to end the Gaza war and defuse the spillover conflict in Lebanon. China's oil-demand growth is expected to remain weak in 2025 despite recent stimulus measures from Beijing as the world's No.

Persons: paring, Brent, WTI, recouping, Satoru Yoshida, Antony Blinken Organizations: Brent, . West Texas, Rakuten Securities, International Energy Agency Locations: China, Iran, Gaza, Lebanon, Beijing, Saudi Aramco

☆ A Trump win will fuel a long-term buying opportunity in the Chinese market, stock chief says
▼ + stars: | 2024-10-22 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

A Trump election win will spur a Chinese stock sell-off that will then offer a buying opportunity, an equity strategist said. AdvertisementA presidential victory for Donald Trump will trigger a sell-off in Chinese stocks that would then create a buy-the-dip opportunity, Christopher Wood of Jefferies said. Advertisement"Bottom line, if Donald Trump's elected and Chinese stocks collapse, that's an opportunity to add to China," he outlined. He continued: "People have forgotten that Donald Trump did the big trade deal with China in January 2020. A trade deal was done, and it was all hunky dory, and Donald Trump was going to run on that presidential campaign as I'm the guy who's negotiated the best trade deal with China since WTO."

Persons: Christopher Wood, Jefferies, —, Donald Trump, Trump, — Wood, isn't, Donald Trump's, dory, who's, Wood Organizations: Trump, Service, Bloomberg, Republican, Beijing, Nvidia Locations: China, Beijing, Washington

☆ China's youth unemployment rate falls after climbing for two straight months
▼ + stars: | 2024-10-22 | by ( ) www.cnbc.com time to read: +1 min

A person rides a bicycle with a child sitting in the basket in Beijing, China July 14, 2024. The jobless rate for 16-to-24-year olds in China, excluding students, fell to 17.6% in September from 18.8% a month prior, official data showed on Tuesday, offering officials relief after youth unemployment hit fresh highs for two straight months. Youth unemployment hit a record high of 21.3% in June last year, prompting China to halt publication of the closely watched benchmark until that change was made. But a separate official survey on factory owners' confidence for September showed that firms continued to hold off on hiring last month. The rate last month for 25-to-29-year olds was 6.7%, and also excluded college students, and 3.9% for people between 30 and 59 years of age.

Organizations: National Bureau of Statistics, Producers Locations: Beijing, China

☆ Analyst expects 2025 to be a tough year for China's economy
▼ + stars: | 2024-10-22 | 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 EmailAnalyst expects 2025 to be a tough year for China's economyChristopher Smart, managing partner at Arbroath Group, says 2025 will be a tough year for China's economy, unless Beijing takes steps to stimulate growth.

Persons: Christopher Smart Organizations: Arbroath Group Locations: Beijing

☆ U.S. crude oil prices rise nearly 1%, extend gains to above $71 per barrel
▼ + stars: | 2024-10-22 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

The Phillips 66 Carson refinery is shown after the company said it will shut its large Los Angeles-area oil refinery late next year, delivering a blow to California's fuel supply, in Carson, California, on Oct. 17, 2024. U.S. crude oil futures extended gains on Tuesday after rising nearly 2% in the previous session. Oil prices have bounced back somewhat after selling off steeply last week. Traders increasingly view a supply disruption in the Middle East due to Israel-Iran tensions as unlikely. Weak demand in China has also weighed on prices recently.

Organizations: Traders Locations: Carson, Los Angeles, Carson , California, Israel, Iran, China, Beijing

☆ India, China reach pact to resolve border conflict, Indian foreign minister says
▼ + stars: | 2024-10-22 | by ( ) www.cnbc.com time to read: +3 min

India and China have reached a deal on patrolling their disputed frontier to end a four-year military stand-off, the Indian foreign minister said on Monday, paving the way for improved political and business ties between the Asian giants. Estherpoon | Istock | Getty ImagesIndia and China have reached a deal on patrolling their disputed frontier to end a four-year military stand-off, the Indian foreign minister said on Monday, paving the way for improved political and business ties between the Asian giants. To avoid clashes, the two militaries will patrol contested points along the border according to an agreed schedule, a senior Indian military officer aware of the details told Reuters. Both sides will monitor the area in Ladakh to ensure that there are no violations, the officer added. Monthly review meetings and regular monitoring of the contested areas by both sides would ensure there are no violations, he added.

Persons: Narendra Modi's, Xi Jinping, Subrahmanyam Jaishankar, Modi, Xi, Deependra Singh Hooda Organizations: Istock, Getty Images, Indian, NDTV, Authorities Locations: India, China, Getty Images India, Russia, Ladakh, Indian, Beijing, New Delhi

☆ BRICS: The West wants Putin isolated. A major summit he’s hosting shows he’s far from alone
▼ + stars: | 2024-10-21 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Brazilian President Luiz Inacio Lula da Silva was expected to join but canceled his trip after suffering an injury at home. “This BRICS summit is really a gift (for Putin),” said Alex Gabuev, director of the Carnegie Russia Eurasia Center in Berlin. Russian President Vladimir Putin, Chinese leader Xi Jinping, then-Brazilian President Jair Bolsonaro, South African President Cyril Ramaphosa and Indian Prime Minister Narendra Modi pose as they arrive for the BRICS summit in Brasilia in November 2019. While BRICS is primarily geared toward economic collaboration, its meeting last year took place in the shadow of the war in Ukraine. The gathering in Kazan also gives Putin ample opportunity for one-on-one facetime with his fellow BRICS leaders and other friendly dignitaries in attendance.

Persons: Vladimir Putin, –, Xi, India’s Narendra Modi, Iran’s Masoud, Cyril Ramaphosa, Recep Tayyip Erdogan, Luiz Inacio Lula da Silva, Putin –, Xi –, Putin, BRICS, Donald Trump, ”, Alex Gabuev, …, BRICS “, ” Gabuev, Xi Jinping, Jair Bolsonaro, Narendra Modi, Adriano Machado, Mahmoud Abbas, Israel –, Jonathan Fulton, Volodymyr Zelensky, Yevhen Titov, they’ll, Manoj Kewalramani Organizations: CNN, Carnegie Russia Eurasia Center, Indian, Reuters, International, Israel, Atlantic Council, United Nations General Assembly, US, New Development Bank, World Bank, International Monetary Fund, BRICS, Kremlin, Takshashila Locations: Ukraine, Moscow, Russian, Kazan, Brazil, Russia, India, China, South Africa, Egypt, United Arab Emirates, Ethiopia, Iran, Beijing, Tehran, United States, Berlin, Brasilia, Johannesburg, Israel, Gaza, Hezbollah, Lebanon, Abu Dhabi, “, Gabuev, BRICS, Kharkiv, Indian, Bangalore

☆ CNBC Daily Open: Everyone’s watching Netflix shares
▼ + stars: | 2024-10-21 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. That's the longest streak this year for the S&P 500 and Dow Jones Industrial Average , both of which hit record highs. Watching Netflix sharesNetflix shares popped 11% on Friday, a day after the company reported third-quarter results that beat earnings, revenue and paid membership estimates. For investors looking to secure a steady stream of income still, Morgan Stanley recommends considering dividend income stocks, and picks 10 dividend stocks from Asia-Pacific, excluding Japan, for its "conviction list."

Persons: Pan Gongsheng, Morgan Stanley Organizations: CNBC, Dow Jones, CSI, People's Bank of, Netflix, Boeing Locations: Asia, Pacific, People's Bank of China, Japan

☆ GE HealthCare announces time-saving AI tool for doctors who treat cancer
▼ + stars: | 2024-10-21 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +5 min

"It's very time-consuming, very frustrating for these clinicians," Dr. Taha Kass-Hout , GE HealthCare's global chief science and technology officer, told CNBC in an interview. GE HealthCare on Monday announced a new artificial intelligence application it said will save time for doctors who diagnose and treat cancer. Since the tool is cloud-based, it will drive recurring revenue for GE HealthCare, Kass-Hout said. GE HealthCare is also hoping to integrate its CareIntellect products with some of the other early stage AI initiatives it teased on Monday. For instance, GE HealthCare is exploring how a group of AI agents can work together as a team to support doctors through its tool called Health Companion.

Persons: Kass, Hout, Dr, Taha Kass, oncologists, Chelsea Vane, Vane, it's Organizations: GE Healthcare, Fair for Trade, Services, China National Convention Center, Oncology, GE, CNBC, Health, Deloitte, GE HealthCare, Tampa General Hospital, Kass Locations: China, Beijing, Tampa

☆ China cuts benchmark lending rates by 25 basis points
▼ + stars: | 2024-10-21 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

China on Monday lowered its main benchmark lending rates by 25 basis points at the monthly fixing. The one-year loan prime rate (LPR) has been cut to 3.1%, while the five-year LPR has been trimmed to 3.6%, the People's Bank of China (PBOC) said. The one-year LPR influences corporate loans and most household loans in China, while the five-year LPR serves as a benchmark for mortgage rates. China's central bank governor Pan Gongsheng had indicated on Friday during a forum held in Beijing that the loan prime benchmark rates would be lowered by 20 to 25 basis points. The seven-day reverse repurchase rate will be cut by 20 basis points, while the medium-term lending facility rate will be lowered by 30 basis points, Pan also highlighted.

Persons: LPR, Pan Gongsheng, Pan, Shane Oliver, Zhiwei Zhang, — CNBC's Evelyn Cheng Organizations: People's Bank of China, AMP Locations: China, Beijing

☆ Chris Hoy: Six-time Olympic champion, 48, announces terminal cancer diagnosis
▼ + stars: | 2024-10-20 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

CNN —Six-time Olympic champion Chris Hoy has announced that he has terminal cancer and that doctors have given him two to four years to live. In February, Hoy disclosed that he had been diagnosed with cancer, though he did not announce the type or his prognosis. Hoy made his Olympic debut at the Sydney Summer Games in 2000 where he won a silver in the men’s team sprint event. Chris Hoy won two of his six Olympic gold medals on home soil at the London 2012 Games. Aizar Raldes/AFP/Getty ImagesMeanwhile, cycling star Mark Cavendish called Hoy a “hero of a human being” on Instagram, while double Olympic champion Becky Adlington said: “A true legend.

Persons: Chris Hoy, ”, Hoy, Sarra, “, you’re, Clive Brunskill, Jason Kenny, Keir Starmer, Chris, Aizar Raldes, Mark Cavendish, Becky Adlington, ” Scotland’s, John Swinney, Sir Chris Hoy Organizations: CNN, Sunday Times, Sydney Summer Games, BBC, Britain’s, Getty Locations: Athens, Britain, Beijing, Copenhagen, ”, British, AFP, Instagram

☆ Analysts pick winners from China stimulus measures
▼ + stars: | 2024-10-20 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Now that China's key ministers have spoken on stimulus, analysts have narrowed down the stocks likely to benefit. Chinese stocks have tempered their recent rally as investors await more policy details. Beyond interest rate cuts, the most tangible Chinese stimulus policies include subsidies to boost consumption with a trade-in program, along with incremental property market support. They screened for mainland-traded Chinese stocks with relatively high dividend yields and strong cash flow. While Chinese property developers may not bounce back right away, HSBC analysts expect construction software company Glodon, listed in Shenzhen, can benefit from property market stabilization.

Persons: David Chao, Morgan Stanley, Morgan, Ni Hong, Edward Chan Organizations: Asia Pacific, Aluminum Corp, Cement, HSBC, National Bureau of Statistics Locations: Japan, Invesco, Hong Kong, Anhui, Beijing, Shenzhen, Shanghai

☆ China's attempts to save its flailing housing market haven't boosted confidence among top Wall Street analysts
▼ + stars: | 2024-10-20 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +5 min

On Thursday, China unveiled new measures to prop up its struggling property market. AdvertisementChina officials have directed a wave of stimulus measures at the country's beleaguered property market, but the effort hasn't done much to impress Wall Street experts. On Thursday, China unveiled new measures to prop up its flailing housing market, including quicker access to credit for developers and renovations in run-down urban areas. "While a step in the right direction, these stimulus measures are so far falling short of the scope and scale needed to reflate the Chinese economy. But Yingrui Wang, China economist at AXA Investment Managers, says that optimism could be short-lived as the housing stimulus lacks detail.

Persons: —, Wall, Goldman Sachs, haven't, Yingrui Wang, Wang Organizations: Service, Ministry of Housing, Ministry, BCA Research, AXA Investment, CSI Locations: China, Beijing, China's

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