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The growth of US tech earnings is vulnerable to ongoing tensions with China. As Beijing exerts influence in the region, US tech firms will compete for a smaller market share. S&P Global data shows that for US chip firms, China is even more important for business than their home turf. AdvertisementGeopolitical tensionsAbishur Prakash, the founder of advisory firm The Geopolitical Business, told Business Insider that US tech companies ignoring the geopolitical tensions with China are risking serious setbacks to their portfolios. Experts believe that China will gradually contribute less to the revenue of mega-cap US tech firms.
Persons: , Tesla, Apple, Prakash, Elon, Kelvin Wong, walling, Jay Pelosky, Pelosky, Wong Organizations: Service, TPW, American, Nvidia, AMD Locations: China, Beijing, India, Europe, South Korea, Taiwan, Japan, Southeast Asia, Vietnam, Malaysia, Indonesia
Read previewUS bases and aircraft in the Pacific are facing intense threat from Chinese missiles, and the Pentagon isn't doing enough to counter that challenge, according to American lawmakers. In a Wednesday letter to Air Force Secretary Frank Kendall and Navy Secretary Carlos Del Toro, 13 members of Congress pointed out glaring vulnerabilities in the Pacific region and demanded "immediate changes." A U.S. Air Force Rockwell B-1B Lancer (L) and a Boeing KC-135 Stratotanker (R) sit on the tarmac at Andersen Air Force base on August 17, 2017, in Yigo, Guam. Justin Sullivan/Getty ImagesIn the letter, lawmakers note that many of the US bases in the Pacific remain unhardened, leaving aircraft and assets vulnerable to missile strikes. Notably, none of the US shelters were in Guam — home to Andersen Air Force Base which routinely hosts American bombers.
Persons: , Frank Kendall, Carlos Del Toro, John Moolenaar, Justin Sullivan, Tom Shugart, Timothy A, Walton, Andy Wong Organizations: Service, Pentagon, Air Force, Business, Department of Defense, Chinese Communist Party Rep, Commonwealth of, Pacific ., U.S . Air Force Rockwell, Boeing KC, Andersen Air Force, US, Center, New, New American Security, Hudson Institute, Andersen Air Force Base, American, People's Liberation Army Rocket Force, Lawmakers, Rocket Force, China's Locations: Pacific, China, Okinawa, Guam, Commonwealth, Northern Mariana, U.S, Yigo, New American, Shugart, Tiananmen, Beijing
India’s half-hour zone dates back to colonial rule of India and the era when ever-faster steamships and trains were shrinking the world. The start of the 20th century saw some push from scientific associations to calibrate India’s time to GMT. That recommendation was rejected by the colonial government, which opted for a unified time that sat squarely in the middle: five and a half hours ahead of GMT. In 2015, North Korea moved out of sync with South Korea by creating “Pyongyang Time,” putting the country eight and a half hours ahead of GMT instead of nine. India’s colonial-era time zone decision making, however, reflected a chorus of political, scientific and commercial voices both from within the government and outside of it, Gordon says.
Persons: Hulton, , Geoff Gordon, Gordon, , it’s, Wong Maye, Hugo Chávez, Nicolas Maduro, Terry Gilliam, Rube Goldberg, Maulik Jagnani, Jagnani Organizations: CNN, East India Company, Hulton Deutsch, University of Amsterdam, Madras, Washington D.C, Greenwich Meridian, Greenwich Observatory, Meridian, Royal Society, Prime Meridian, Physical Laboratory, Tufts University, NPL Locations: New York, London, Tokyo, Iran, Myanmar, Australia, India, British, Madras, Chennai, , Bombay, Kolkata, Washington, London ., Greenwich, North Korea, South Korea, Korea, Pyongyang, Brazil, , Greenwich , London, China, Assam, Arunachal Pradesh, Gujarat
CNN —The grieving parents of two Australian brothers killed on a surfing trip in Mexico alongside their American friend said their deaths had made the world a “darker place,” days after their sons’ bodies were identified. On Sunday, Mexican authorities confirmed their identities as the three missing friends with the help of relatives who flew out help investigators. Mexican authorities have vowed to investigate the murders, saying the surfers may have been attacked in an attempted vehicle robbery. Mexico’s homicide rate is among the highest in the world, and more than 100,000 people remain missing in the country. Studies show only around seven percent of murders in Mexico are ever solved.
Persons: Jake, Callum Robinson, Jack Carter Rhoad, , Debra Robinson, , Carter Rhoad, Martin, Callum, “ Callum, Debra, Callum’s, Penny Wong, Jesús Gerardo “, “ El Organizations: CNN, Seven Network Australia, Australia’s, team, Seven, Department of Foreign Affairs, Trade, Australian Federal Police, Australian Embassy Locations: Mexico, Ensenada, Tijuana, San Diego, Perth, Australia, United States, Baja California
Even before he really knew what it meant, Allen Wong wanted to be rich. What “rich” seemed to dangle was something simpler, more elementary, more a feeling than anything else: freedom from pain. “I didn’t want to be absent from my family and only show up a few hours each day after work. Wong’s father was ousted from his business, sank into a depression and committed suicide; his mother tripped down a spiral of mental illness. Suddenly, Wong’s entry-level computer programming job was the household’s only source of income, and there was a world financial crisis going on.
Persons: Allen Wong, Wong, , , Wong’s, doggedly Organizations: Lamborghini Locations: Guangzhou, Hong Kong, New York City, Chinatown
China's and Australia's flags are seen on the tables where China's Foreign Minister Wang Yi and Australia's Foreign Minister Penny Wong held their bilateral meeting at Parliament House in Canberra on March 20, 2024. Asia-Pacific markets tracked Wall Street gains on Monday as a softer-than-expected U.S. jobs report fueled hopes that the Federal Reserve could start cutting rates soon. Investors, meanwhile, awaited the Reserve Bank of Australia's rate decision on Tuesday and China's April trade data on Thursday. ING said in a note last week that the RBA meeting was "worth watching closely," adding that recent inflation data from Australia showed growth in prices was starting to accelerate. However, the analysts said Australia's inflation data was better than they had expected, and compared to the US, the country's economy had slowed more with the labor market softening substantially.
Persons: Wang Yi, Penny Wong Organizations: House, Wall, Federal Reserve, Investors, Reserve Bank, ING, Global Locations: Canberra, Asia, Pacific, Australia, Hong Kong, China, India, Japan, South
Tim Cook said iPhone sales grew in China, despite external research showing a decline. China accounted for 18% of Apple's sales, making it a critical market for the tech giant. However, over the last quarter, independent analysts have reported a slump in overall iPhone sales in China. iPhone sales in China are a closely watched metric because greater China accounted for 18% of Apple's sales across products in the first quarter, according to the earnings results. Related storiesCook's limited remarks on China's iPhone sales raised questions on Friday's call from analysts who compared Apple's data with independent reports.
Persons: Tim Cook, , Cook, Max, Wells, Aaron Rakers, Will Wong, Wong Organizations: Apple, Service, Counterpoint Research, International Data Corporation, IDC, Bloomberg Locations: China, Hong Kong, Taiwan
The officials said that the changes were made by Arab mediators in consultation with William J. Burns, the C.I.A. director, and that the new version keeps a key phrase, the eventual enactment of a “sustainable calm,” wording that all sides had said earlier they could accept. The two officials said the response from Hamas was a serious one, and that it was now up to Israel to decide whether to enter into an agreement. In the second phase, the two sides would work toward reaching a “sustainable calm,” which would involve the release of more hostages, the officials said. The officials said that Israel’s prime minister, Benjamin Netanyahu, was expected to push back against that definition.
Persons: William J, Burns, Israel, Benjamin Netanyahu Organizations: Hamas Locations: Israel, United States, Gaza
Gold rises on Fed rate cut hopes, Middle East tensions
  + stars: | 2024-05-06 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices ticked higher on Monday, as expectations that the Federal Reserve will start cutting interest rates later in the year and tensions in the Middle East lifted bullion's appeal. "Investors will look at the political situation in the Middle East and how the ongoing negotiations for a ceasefire play out. "Weaker U.S. data offers more policy flexibility for the Fed in terms of rate cuts," paving way for gold prices to stabilize, said IG market strategist Yeap Jun Rong. Markets are pricing in a 67% chance of a U.S. rate cut in September, as per CME's FedWatch Tool. Meanwhile, the Perth Mint's gold product sales in April jumped two-fold from a month earlier, while silver sales fell to their lowest since December.
Persons: Kelvin Wong, Benjamin Netanyahu, Yeap Jun Rong, John Williams, Austan Goolsbee Organizations: Co, Federal Reserve, Asia Pacific, New York Fed Bank, Chicago Fed, Perth Locations: Bangkok, Thailand, OANDA, Gaza, U.S
The US Air National Guard rebuke a proposal to shift space mission units to the Space Force. "Our internal survey indicates about 70% of our personnel would retrain or retire rather than join the Space Force," Air Force Col. Michael Griesbaum, commander of the Alaska Air National Guard's 168th Wing, told reporters Friday. Airmen from the Colorado Air National Guard load equipment onto a C-17 Globemaster before departing for temporary duty in Washington, DC. AdvertisementBut Air National Guard leaders have expressed concern, saying it would set a clear precedent for other services to potentially take more resources from the National Guard model. "If LP 480 is successful, it will open the door to a wholesale harvesting of National Guard resources, both from the Air National Guard and the Army National Guard to the regular components."
Persons: , Michael Griesbaum, Chance Johnson, Military.com, Air Force Frank Kendall, Alex Wong, Frank Kendall, We've, Kendall, Griesbaum, Jason Carr, Robert Brown, Jacob Hancock Kendall, Michael Bruno Organizations: US Air National Guard, Space Force, Guardsmen, Service, Air National Guard, Hawaii Air National Guards, Air Force, Space Force Guardians, " Air Force, Alaska Air National, Airmen, Colorado Air National Guard, Tech, National Governors Association, United States Space Force, Rayburn House, Capitol, Getty Images Air Force, Army Guard, National Guard, Army National Guard, United States Space Command, Space Development, Air National Guardsmen, Air Force Staff, Colorado Air National, 233rd Space Group, Department of, National Guardsmen, Florida Air National Guard, Cape Canaveral Space Force, Guard, Brig, Colorado National Guard Locations: Alaska , Colorado, United States, Washington , DC, Niagara Falls , New York, Alaska , California , Colorado , Florida, Hawaii , New York, Ohio, Florida
Former US President Donald Trump attends his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, on May 2, 2024. The historic hush-money trial, which still has another three to five weeks to go, marks the first-ever criminal trial of an ex-U.S. president. Fined $9,000 for contempt of courtFormer US President Donald Trump sits in the courtroom at Manhattan criminal court in New York, US, on Friday, May 3, 2024. Prosecutors dig inRepublican presidential candidate and former U.S. President Donald Trump shouts during a campaign event in Freeland, Michigan, U.S. May 1, 2024. Pecker, who said that he purchased the story in order to bury it, said that Trump never reimbursed the company.
Persons: Donald Trump, Doug Mills, He's, he's, Juan Merchan, Trump, Merchan, Attorney Alvin Bragg, Joe Biden, , doesn't, Trump's protestation, Chris Conroy, Brendan Mcdermid, Michael Cohen, Stormy Daniels, Daniels, David Pecker, Pecker, Donald Trump's, Timothy A, Clary, Cohen, Karen McDougal, Rhona Graff, McDougal, Gary Farro, Keith Davidson, Davidson, Hope Hicks, Alex Wong Organizations: Manhattan Criminal, Afp, Getty, Manhattan Supreme, Reuters, Attorney, Trump, Truth Social, Republican, National Enquirer, American Media, White House, Capitol Locations: New York City, Manhattan, Wisconsin, Michigan, New York, Waukesha , Wisconsin, Freeland , Michigan, U.S, Republic, Washington , DC
American warships and bases in the Pacific are within reach of an increasingly worrying threat, a missile force unlike anything the US has faced in combat. With these missiles, China is signaling that it could attack US bases and ships in the region with little to no warning, Clark said. TK Department of DefenseThere's a lot more to the Chinese Rocket Force than these weapons, though. AdvertisementThat said, the US and its allies can't afford to assume the Rocket Force won't be ready should conflict come. In other words, how the US prepares itself and adapts to the Chinese Rocket Force gives it the best shot at avoiding a fight altogether.
Persons: China's, Andersen, Thomas Shugart, Bryan Clark, John Aquilino, Kevin Frayer, Harry Harris, Harris, Clark, Shugart, Gerald R, Kendall Warner, Byrd, US Defense Department Harris, Robert Peters, Peters, Ronald Reagan, Andrea Rosembert, Cpl, Ryan Little, Charles Flynn, I'm, Flynn, it's, Andy Wong Organizations: Business, Army Rocket Force, Pentagon, China's Rocket Force, Department of Defense TK Department of Defense, Center, New, New American Security, US Navy, PLA, Hudson Institute, Pacific Command, People's Liberation Army Rocket Force, Eastern Theater Command, People's Liberation Army PLA, Getty, Rocket Force, Liberation, TK Department of Defense, Chinese Rocket Force, US Defense Department, Ford, Virginian, Tribune, Service, Japan, Self, Defense Force, Misawa Air Base, Pacific, US, Defense, Aegis Ballistic Missile Defense, Army, Heritage Foundation, Aegis, Guam, Area, Ronald, Ronald Reagan Ballistic Missile Defense, Department of Defense, US Air Force, Marine Corps, Andersen Air Force Base, Marine, Combat, US Army Pacific, Stealth, Force, Military Locations: Beijing, China, American, Guam, South, Washington, Japan, New American, People's Republic of China, South Korea, Taiwan, South China, AFP, U.S, Marshall, Pearl, Pacific, PLARF, Tiananmen
Gold set for second weekly fall; U.S. payrolls on investors' radar
  + stars: | 2024-05-03 | by ( ) www.cnbc.com   time to read: +2 min
An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices were poised for a second straight weekly decline, although bullion held steady on Friday as investors remained cautious ahead of the U.S. non-farm payrolls data that could provide cues on the Federal Reserve's rate cut timeline. Spot gold held its ground at $2,306.84 per ounce by 0457 GMT but lost more than 1% this week. Softer U.S. payrolls print could provide support for gold but a better report may weigh on prices, Wong added. The non-farm payrolls report is due at 1230 GMT.
Persons: Christopher Wong, Wong, Wang Tao, Fawad Organizations: Co, U.S ., Fed, City Index Locations: Bangkok, Thailand, Egypt, Israel
Nearing the end of a whirlwind Middle East trip this week, Secretary of State Antony J. Blinken finished meetings with the Israeli president and relatives of American hostages held by Hamas, left his beachside hotel in Tel Aviv and shook hands with protesters gathered outside. He looked them in the eye and said there was a new hostages-for-cease-fire deal on the table that Hamas should take. “Bringing your loved ones home is at the heart of everything we’re trying to do, and we will not rest until everyone — man, woman, soldier, civilian, young, old — is back home,” he said. That public show of empathy with frustrated protesters is something that Prime Minister Benjamin Netanyahu has avoided since the war began in October. And, lately, he has focused his recent public comments on an imminent ground offensive — an invasion of the city of Rafah in southern Gaza “with or without” a cease-fire deal, as the Israeli leader put it on Tuesday.
Persons: Antony J, Blinken, , Benjamin Netanyahu Organizations: Hamas Locations: Tel Aviv, Rafah, Gaza
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGold Medal Mentality: Applying an Olympic Mindset to Small Business with Gymnast Leanne WongResiliency, focus, and discipline are defining traits of not only elite-level athletes, but many small business owners, as well. 2x world champion gymnast Leanne Wong shares how she applies that same mindset to her side hustle as an entrepreneur and discuss how she's running and growing her business while competing for a spot on this summer's 2024 Olympic team.
Persons: Leanne Wong Resiliency, Leanne Wong Organizations: Business
On a visit to Israel on Wednesday, Secretary of State Antony J. Blinken put the onus squarely on Hamas to accept the proposal. But Israeli officials have said, consistently and emphatically, that the offensive will take place. The number of Palestinians Israel is offering to free in exchange is unclear. More than 100 were released in a weeklong cease-fire in November, and Israeli officials say they believe that more than 30 — possibly many more — are dead. Gazan health officials say that Israel’s subsequent bombing and invasion have killed more than 34,000 people, and injured far more.
Persons: Osama Hamdan, Al Manar, , Antony J, Blinken, wouldn’t, , Yair Lapid, Benjamin Netanyahu, Mr, Hamdan, Biden, Netanyahu’s, ” Mr, Netanyahu, Israel Organizations: Israel, Hezbollah, Hamas, United Nations Locations: Jerusalem, Washington, Gaza, Lebanese, Israel, United States, Qatar, Egypt, Rafah, masse
Paul Auster’s Best Books: A Guide
  + stars: | 2024-05-01 | by ( Wilson Wong | ) www.nytimes.com   time to read: 1 min
Paul Auster, who died on April 30 at the age of 77, was an atmospheric author whose scalpel-sharp prose examined the fluidity of identity and the absurdity of the writer’s life. An occasional memoirist, essayist, translator, poet and screenwriter, Auster was best known for his metafiction — books that were characterized by their elusive narrators, chance encounters and labyrinthine narratives. Consuming Auster’s genre-defying books is not unlike the experience of reading he describes in “The Brooklyn Follies”: “When a person is lucky enough to live inside a story, to live inside an imaginary world, the pains of this world disappear,” he wrote. “For as long as the story goes on, reality no longer exists.” Thankfully, Auster left us with many worlds and stories and realities to lose ourselves in. These are the books that best represent his work.
Persons: Paul Auster, Auster, Organizations: Brooklyn Locations:
Secretary of State Antony J. Blinken delivered twin messages to Hamas and Israel on Wednesday, pressing Hamas to accept a cease-fire proposal while at the same time urging Israeli leaders to put off a major ground invasion into the thickly populated southern Gaza city of Rafah. On the last day of a Middle East trip, his seventh visit to the region since the war began in October, Mr. Blinken tried to turn up the pressure on Hamas. “We are determined to get a cease-fire that brings the hostages home and to get it now, and the only reason that that wouldn’t be achieved is because of Hamas,” Mr. Blinken said at the start of a meeting in Tel Aviv with Isaac Herzog, the president of Israel. “There is a proposal on the table, and as we’ve said: No delays, no excuses. The time is now.”The proposed agreement calls for the release of 33 hostages in the initial stage of a cease-fire, and would lead to the release of Palestinian prisoners being held in Israel.
Persons: Antony J, Blinken, , wouldn’t, ” Mr, Isaac Herzog, Israel, we’ve Organizations: Israel, Mr Locations: Gaza, Rafah, Tel Aviv, Israel
The talks have been stalled for months, and Israeli officials said Monday that they had agreed to lower their demands. Mr. Blinken is scheduled to meet Mr. Netanyahu later. Mr. Blinken and other U.S. officials say Hamas has a narrow window to take the deal since Mr. Netanyahu is pressing for the offensive in Rafah. U.S. officials say they would prefer that Israel do targeted operations against Hamas leaders and fighters in Rafah, where Israeli officials say Hamas still has four battalions. “We want to see in the coming days this agreement coming together.”When asked about Mr. Netanyahu’s statements on Rafah, Mr. Blinken said that U.S. efforts were focused on a hostage and cease-fire deal.
Persons: Antony J, Blinken, Biden, Biden’s, Benjamin Netanyahu, Isaac Herzog of Israel, Netanyahu, Herzog, Mr, , Organizations: Israel, U.S, Hamas Locations: Gaza, Rafah, Tel Aviv, U.S, Israel, Jordan
Citing rising breast cancer rates in young women, an expert panel on Tuesday recommended starting regular mammography screening at age 40, reversing longstanding and controversial guidance that most women wait until 50. The panel, the U.S. Preventive Services Task Force, finalized a draft recommendation made public last year. In 2009, the task force raised the age for starting routine mammograms to 50 from 40, sparking wide controversy. But now breast cancer rates among women in their 40s are on the rise, increasing by 2 percent a year between 2015 and 2019, said Dr. John Wong, vice chair of the task force. The panel continues to recommend screening every two years for women at average risk of breast cancer, though many patients and providers prefer annual screening.
Persons: John Wong Organizations: U.S . Preventive Services Task Force Locations: U.S, United States
Prime Minister Benjamin Netanyahu of Israel vowed anew on Tuesday to launch an invasion into the southern Gaza Strip, even as a renewed push for a cease-fire agreement was showing glimmers of a potential breakthrough. After seven months of an Israel-Hamas war in Gaza, the United States, Qatar and several other countries have been hoping to broker a cease-fire, and Secretary of State Antony J. Blinken is visiting the Middle East to press for an agreement. But with Hamas arguing that any agreement should include an end to the war, and with right-wing politicians in Israel threatening to leave the government coalition if the long-planned incursion into the southern Gazan city of Rafah is delayed, Mr. Netanyahu said that Israel reserved the right to keep fighting.
Persons: Benjamin Netanyahu, Israel, Antony J, Blinken, Netanyahu Locations: Gaza, Israel, United States, Qatar, Gazan, Rafah
Read previewIn October 2022, Shopify's once high-flying stock hit its lowest price since before the Covid pandemic. AdvertisementNow, after two rounds of layoffs and a divestment of its fulfillment and logistics business, the picture looks a bit different for Shopify. Shedding a "money-losing logistics business"Dropping logistics and fulfillment is a major part of Shopify's stock comeback story. In May 2023, Shopify announced it would be selling the logistics business entirely to Flexport. In May 2023, Shopify cut another 20% of its workforce as it sold its logistics business to Flexport.
Persons: , Shopify's, Shopify, Oppenheimer, Ken Wong, Wong, D.A, Davidson, Gil Luria, Tobi Lütke, Lütke, Luria, Morgan Stanley, Jeff Hoffmeister, Bhavin Shah, GMV, We've, Shah Organizations: Service, Business, Systems, Investors, SEC, Deutsche Bank Locations: Salesforce, mstone@businessinsider.com
Israeli negotiators, offering a hint of hope for negotiations over a cease-fire in the Gaza Strip, have reduced the number of hostages they want Hamas to release during the first phase of a truce, three Israeli officials said on Monday. For weeks, cease-fire talks have been at a standstill. Hamas did not respond to a request for comment about whether it would send representatives to Cairo. A senior Hamas official said on social media on Monday that the group was studying a new Israeli proposal. The American secretary of state, Antony J. Blinken, who was meeting in Saudi Arabia on Monday with Arab diplomats, said the onus was now on Hamas.
Persons: Antony J, Blinken Organizations: Hamas Locations: Gaza, Israel, Cairo, Saudi Arabia
President Biden spoke with Prime Minister Benjamin Netanyahu on Sunday, three weeks after telling him that he could rethink U.S. support for Israel’s war in Gaza. An administration official said that about three-quarters of Mr. Biden’s nearly hourlong call to Mr. Netanyahu focused on the possible cease-fire and hostages deal. The two leaders also discussed hostage videos released by Hamas last week, including those showing two hostages with American citizenship. Israel, heeding pleas by Mr. Biden for restraint, fired back only a token counterattack, and both sides have indicated they want to avoid further escalation. With the immediate threat of a wider war seemingly fading, Mr. Biden and his team could shift their attention back to Gaza.
Persons: Biden, Benjamin Netanyahu, Antony J, Blinken, “ That’s, John F, Kirby, Biden’s, Netanyahu, Israel, Mr, Biden “, , Bernie Sanders, , Yahya Sinwar, ” Edward Wong Organizations: Israel, Hamas, State Department, Mr, Economic, White, ABC, Biden, American, , CNN, , U.S Locations: Gaza, Rafah, Washington, Saudi Arabia, Riyadh, Jordan, Israel, , U.S, Vermont, “ State, Iran
On Today’s Episode:With Israel Poised to Invade Rafah, Negotiators Try Again for Cease-Fire Deal, by Isabel Kershner and Edward WongCrackdowns at 4 College Protests Lead to More Than 200 Arrests, by Anna Betts, Matthew Eadie and Nicholas Bogel-BurroughsTrump and DeSantis Meet for First Time Since Bruising Primary, by Maggie Haberman and Nicholas Nehamas
Persons: Isabel Kershner, Edward Wong Crackdowns, Anna Betts, Matthew Eadie, Nicholas Bogel, Burroughs Trump, Maggie Haberman, Nicholas Nehamas Locations: Rafah
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