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The boy who the police say killed Xinyue was 13 years old at the time. As his trial opens on Wednesday, it will try to answer a question gripping Chinese society: How should China deal with young children accused of heinous crimes? Countries around the world have long struggled to balance punishment and forgiveness for children. But the debate is especially notable in China, where a history of relative leniency toward young offenders stands in stark contrast to the limited rights of adult criminal defendants. For decades, the government has emphasized educating and rehabilitating juvenile offenders, rather than imprisoning them.
Persons: Gong Junli, Xinyue Locations: China
Nvidia bounces back strongly after $500 billion decline
  + stars: | 2024-06-26 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia bounces back strongly after $500 billion declineTony Wang, T. Rowe Price portfolio manager, joins CNBC's 'Squawk Box' to discuss Nvidia, tech spending, and more.
Persons: Tony Wang, Rowe Price Organizations: Nvidia
Nvidia stock has plunged 16% in the past week, erasing $431 billion in market value. AdvertisementNvidia stock has suffered a painful four-day decline that has erased $431 billion in market value. The AI tech giant, which was the world's most valuable company just last week, is now worth $2.9 trillion, making it once again the third largest company behind Microsoft and Apple. AdvertisementAltogether, Nvidia stock is down 16% from its record high. "The surge in Nvidia share price has been so remarkable throughout 2024 that most investors are still in the black.
Persons: , Jensen Huang, Neil Roarty, Huang, Ray, Wang, Vivek Arya Organizations: Service, Nvidia, Microsoft, Apple, SEC, Constellation, CNBC, Bank of America
US stocks were mostly lower on Monday, driven by a sell-off in tech stocks led by Nvidia. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks traded mostly lower on Monday, driven by a continued sell-off in technology stocks. Nvidia led the tech sector lower, falling about 5% and down about 14% from its record high reached last week. AdvertisementFed President Mary Daly said that the US labor market is showing signs of an inflection point that could ultimately turn lower.
Persons: , Ray, Wang, Mary Daly, Daly Organizations: Nvidia, Service, Wall Street, Constellation Research, CNBC, PCE Locations: Here's
Since briefly becoming the world's most valuable company last week, Nvidia has dropped for three consecutive trading days and is now down 13% from its peak. Nvidia's decline brought with it a slide in chipmakers and other tech companies that have been tied to the artificial intelligence boom. Super Micro Computer , which sells servers packed with Nvidia's AI chips, slid 8.7 percent, and Dell , which competes in that market, fell 5.2%. Last week, it topped Apple and Microsoft as the most valuable U.S. company with a market capitalization over $3 trillion before giving up some of those gains. Later this year, Nvidia will start shipping its next-generation AI chips, called Blackwell, that some analysts say could kick off another cycle with significant growth for the chipmaker and its partners.
Persons: it's, Stephanie Link, Blackwell, Ray Wang Organizations: Nvidia, Micro Computer, Dell, Qualcomm, Broadcom, Apple, Microsoft, CNBC, Google, Oracle, Meta, Constellation Research Locations: U.S
At least 47 people have died in southern China’s Guangdong Province after torrential rains set off flooding and landslides, according to the Chinese authorities. The city of Meizhou, home to about 3.8 million people, began experiencing “once-in-a-century” rainfall last week, according to state media. Initially, officials reported that nine people in Meizhou had died. But on Friday afternoon, the death toll leaped dramatically, as officials reported an additional 38 deaths in Pingyuan, a county under Meizhou’s jurisdiction. More than 100,000 people were evacuated, state media said.
Persons: , Meizhou Locations: China’s Guangdong Province, Meizhou, Pingyuan
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Now, China's tech bosses seem ready to do the same. AdvertisementChina is pushing tech workers even harderChinese tech companies seem willing to take Silicon Valley's efficiency mantra even further. Big names on China's tech scene, like JD.com and Jack Ma's Alibaba, have faced a threat from fast-growing newcomers like Pinduoduo, the sister company of online marketplace Temu. AdvertisementQu left Baidu after her comments were made public, but the ferocity of what China's tech workers are hearing isn't abating.
Persons: , Mark Zuckerberg, Andy Jassy, Meta's Mark Zuckerberg, Richard Liu, Liu, Jack Ma's Alibaba, Pinduoduo, Jack Ma, Wang, Ma's Alibaba, aren't, Qu Jing, Qu, Baidu, isn't Organizations: Service, Business, Financial Times, Bloomberg, China Labor Watch, Baidu Locations: China, Beijing
Constellation Research said Nvidia stock will soar 65% to $200 per share over the next year. The research firm said it expects Nvidia stock to continue soaring for the next 18 to 24 months as it benefits from its AI dominance. These are the seven reasons Wang expects Nvidia stock to soar 65% from current levels. You're going to be locked in for quite some time and they've got quite a lead in terms of doing that." Wang isn't the only analyst on Wall Street with a $200 price target for Nvidia stock.
Persons: , Ray, Wang, Jensen Huang, It's, Larry Ellisons, scott Mcnealys, Mark Zuckerbergs, they've, Wang isn't, Rosenblatt Organizations: Constellation Research, Nvidia, Service, Constellation, CNBC, Microsoft, Intel, Cisco, Wall Locations: that's
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia's growth is going to continue for at least the next 18-24 months: Constellation's Ray WangRay Wang, Constellation Research founder, chairman and principal analyst, joins 'Squawk Box' to discuss Nvidia's stock performance, why he has a $200 price target on the stock, and more.
Persons: Constellation's Ray Wang Ray Wang Organizations: Constellation Research
GUANGZHOU, CHINA - NOVEMBER 17: A GAC Aion Hyper SSR electric sports car is on display during the Auto Guangzhou 2023 at China Import & Export Fair Pazhou Complex on November 17, 2023 in Guangzhou, Guangdong Province of China. The ideal outcome China wants is for the European Commission to revoke its tariff decision by July 4 and adhere to World Trade Organization rules, Global Times reported, quoting observers. China has firmly opposed the tariffs, saying the move was "blatant protectionism" and could violate WTO rules, its commerce ministry said on June 14. A Chinese official told CNBC last week that the EU's probe into Chinese EVs was overly selective and that the results were not credible. Read the full report on Global Times.
Persons: Chen Yihang, Wang Wentao, Valdis Dombrovskis, EVs Organizations: Auto Guangzhou, China Import, Export, Getty Images, Union, Global Times, European Commission, World Trade Organization, EV, CNBC Locations: GUANGZHOU, CHINA, Guangzhou, Guangdong Province of China, China, Beijing
EU and China set for talks on planned electric vehicle tariffs
  + stars: | 2024-06-23 | by ( ) www.cnbc.com   time to read: +5 min
The EU and China have reportedly agreed to start talks on the planned imposition of tariffs on Chinese-made EVs. Germany's Economy Minister Robert Habeck said he had been informed by EU commissioner Valdis Dombrovskis that there would be concrete negotiations on tariffs with China. The minister had said earlier on Saturday that the European Union's door was open for discussions regarding EU tariffs on Chinese exports. Proposed EU tariffs on Chinese goods are not a "punishment", Habeck told Chinese officials earlier in Beijing. Proposed EU duties on Chinese-made EVs would hurt both sides, Zheng added.
Persons: Robert Habeck, Valdis, Wang Wentao, Habeck, Habeck's, Zheng Shanjie, Zheng, Valdis Dombrovskis Organizations: Afp, Getty Images, European Union, Germany's, EU, European Commission, Russia, National, Reform Commission, Chinese Commerce, EU Trade Locations: Taicang Port, Suzhou, China's, Jiangsu Province, EU, China, Getty Images China, Shanghai, Beijing, Brussels, Berlin, Ukraine, Russia, Europe, U.S, Brazil, Turkey, Germany
The other is Nvidia , which for a time this week, surpassed Microsoft to become the largest company in the world by market cap. Nvidia has over 80% of the market for chips used to train and deploy AI software like ChatGPT. 100 on Interbrand's list for 2023 is Japanese camera maker Canon, with Dutch brewer Heineken at No. The risk for Nvidia, Silverman added, is that its "weak brand strength will limit how valuable it will be, despite its market cap heights." Gamers love itHowever, a competing survey shows that Nvidia's brand value is catching up to that of its peers.
Persons: Jensen Huang, Ann Wang, , Greg Silverman, Interbrand's, Silverman, Interbrand, Kantar BrandZ, Marc Glovsky, Philip Fong Organizations: Reuters Apple, Microsoft, Google, Nvidia, Disney, Netflix, Heineken, Apple, Windows, Samsung, Toyota, Mercedes, Benz, BMW, Nike, Intel, Hewlett Packard Enterprise, CNBC, Nintendo, AFP, Getty, chipmaker, Dell, Vanda Research Locations: Taipei, Taiwan, Korean
How Gen-Z buyers are changing the bridal fashion business
  + stars: | 2024-06-21 | by ( Yola Mzizi | ) edition.cnn.com   time to read: +9 min
A bridal look from Collina Strada, presented at New York Fashion Week in September 2022. Aurora Rose/ShutterstockA bridal look from Sandy Liang, presented at New York Fashion Week in February 2023. Avalon/dpa/picture alliance/Sipa USAMillennial and Gen-Z brides-to-be like de Quesada are no longer shopping for just a wedding dress, but an entire wardrobe for pre- and post-wedding events. That breadth is propelling the global bridal wear market, which is projected to grow at a rate of 3.5 percent annually and is expected to reach $83.5 billion by 2030, according to the Global Bridal Wear Market Industry report. Efren Landaos/Sipa USAFor an emerging designer like Wiederhoeft, bridal is something of a safety net, serving as “a floating line of credit” for the rest of their business.
Persons: , Christyne de Quesada, ” de Quesada, , ShuShu Tong, Vera Wang, Gabriella Arango, Gucci, Collina Strada, Aurora Rose, Sandy Liang, de Quesada, it’s, , Caroline Crawford Patterson, Dua Lipa, Simon Porte Jacquemus, Marco Maestri, Arnold Jerocki, Crawford Patterson, Anthropologie, It’s, Jackson Wiederhoeft, Wiederhoeft, “ It’s, Efren, Millennials, Hillary Taymour, Taymour, JP Yim, Andrew Kwon's, Rodin, Andrew Kwon, Kwon, Brigitte Chartrand Organizations: The, Fashion, CNN, New York, Avalon, Cion Investment Corp, Abercrombie, Fitch, Census Bureau, Pew Research Center, Designers, ” Retailers, Ssense Locations: Venice, Italy, Mexico City, Miami, Shanghai, Florida, Dua, Charleval, France, New York, New, New York City, , Ssense
The ravenous came for a taste of home in a dish of spicy fried beef or steamed fish head. It was opening night in Hong Kong at Return Home Hunan, a well-known chain from mainland China trying to wedge into the city’s competitive food scene. Huang Haiying, the restaurant’s founder, greeted customers in a bright red suit while waiters handed out red envelopes stuffed with coupons. Hong Kong is a difficult place to open a restaurant these days. But restaurant owners from mainland China, facing their own challenges at home, see an opening.
Persons: chiles, Huang Haiying, Ms, Huang, “ We’ll, Organizations: Return Home Locations: Hong Kong, Return Home Hunan, China
Goldman Sachs refreshed its lists of top global stock picks for June by adding some and removing others. The stocks are captured in the investment bank's "Conviction List - Directors' Cut" and seeks to offer investors a "curated and active" list of 15 to 25 buy-rated stocks. The stocks are selected by a group designated by the bank's Investment Review Committee for each region. Here are three of the latest additions to Goldman's directors' cut lists — for Asia-Pacific and Europe — that were given more than 40% upside potential in the next 12 months. Goldman has a target price of 685 New Taiwan dollars ($21.16) on the stock, implying 54.1% potential upside.
Persons: Goldman Sachs, Goldman, Chao Wang, Oil Goldman, Nikhil Bhandari, Phillips, Daniela Costa, CNBC's Michael Bloom Organizations: bank's Investment, EMC, Taiwan Stock Exchange, SmartETFs Asia, New, Oil, Project, bbl, PTT Public Company, Stock Exchange of, Nasdaq, Philips, Euronext Locations: Asia, Pacific, Europe, New Taiwan, Thailand's, Stock Exchange of Thailand, Dutch, Euronext Amsterdam
Hong Kong CNN —Warren Buffett’s Berkshire Hathaway has further cut its large stake in BYD, which vies with Tesla as the world’s largest electric car (EV) maker, as global trade tensions escalate over Chinese EVs. The sale was valued at 310.5 million Hong Kong dollars ($40 million). BYD shares had closed at a record high in June of that year. In 2008, Berkshire spent $230 million in buying BYD shares at an average of HK$8 ($1.02) apiece. Berkshire still holds 75.7 million Hong Kong-listed shares of BYD, which were worth about 17.6 billion Hong Kong dollars ($2.3 billion) by Tuesday.
Persons: Hong Kong CNN — Warren, Berkshire Hathaway, Tesla, Buffett, Daniel Acker, Biden, Wang Chuanfu, Elon Musk’s Tesla, didn’t, Charlie Munger, Munger “, Organizations: Hong Kong CNN, Hong Kong, Berkshire, Bloomberg, Getty, European Union, European Commission, EU, EV, HK, CNN Locations: China, Hong Kong, BYD, European, Europe, Beijing, United States, Shenzhen, Berkshire
Hollywood is facing a dire threat: sports
  + stars: | 2024-06-18 | by ( Lucia Moses | ) www.businessinsider.com   time to read: +9 min
AdvertisementSports media rights have never been more expensive, but media companies keep paying up. The number of TV shows across the industry has been declining since the 2022 end of the Peak TV era. Media companies have been aggressively pursuing other secondary sports to maintain their value to distributors and advertisers, as Warner Bros. All this has dire implications for entertainment budgets, which media companies have already been trimming after overspending to build streaming businesses. AdvertisementRelationships with the top people in sports will likely be a bigger factor in leadership at media companies moving forward.
Persons: , Doug Shapiro, Shapiro, Seth Meyers, Spencer Wang, David Levy, — it's, Levy, it's, Jonathan Miller, WBD, Michael Kassan, Mark Lazarus, Media Group's, John Kosner, Ed Desser, Sports doesn't, David Zaslav, Alex Iosilevich Organizations: Service, NBA, Business, Turner Broadcasting, Apple, Google, Street Journal, NBC, ESPN, Amazon, Warner Bros, NFL, Comcast, Netflix, Nielsen, Turner Networks, Horizon, Entertainment, Marvel, Star, Integrated Media Co, Hollywood, Media, Warner Bros . Discovery, Sports, Cannes Lions, Turner, TNT, TBS, Premier League, WWE
Read previewSports has increasingly become the star of the show for big TV companies, and its ascent is sending a shiver down Hollywood's spine. AdvertisementSports media rights have never been more expensive, but media companies keep paying up. The number of TV shows across the industry has been declining since the 2022 end of the Peak TV era. Media companies have been aggressively pursuing other secondary sports to maintain their value to distributors and advertisers, as Warner Bros. AdvertisementRelationships with the top people in sports will likely be a bigger factor in leadership at media companies moving forward.
Persons: , Doug Shapiro, Shapiro, Seth Meyers, Spencer Wang, David Levy, — it's, Levy, it's, Jonathan Miller, WBD, Michael Kassan, Mark Lazarus, Media Group's, John Kosner, Ed Desser, Sports doesn't, David Zaslav, Alex Iosilevich Organizations: Service, NBA, Business, Turner Broadcasting, Apple, Google, Street Journal, NBC, ESPN, Amazon, Warner Bros, NFL, Comcast, Netflix, Nielsen, Turner Networks, Horizon, Entertainment, Marvel, Star, Integrated Media Co, Hollywood, Media, Warner Bros . Discovery, Sports, Cannes Lions, Turner, TNT, TBS, Premier League, WWE
CNN —China will provide a new pair of giant pandas to Australia, Premier Li Qiang said on Sunday, in the latest sign of warming relations between the two countries. He said China will send a new pair of giant pandas to the zoo in Southern Australia after its current pair return to China later this year, according to Chinese state media. Australia's Foreign Minister Penny Wong (left) shakes hands with China's Premier Li Qiang as South Australian Premier Peter Malinauskas looks on at Adelaide Zoo on June 16, 2024. Giant pandas Wang Wang and Fu Ni, the only pandas in the southern hemisphere, have been on loan to Adelaide Zoo since November 2009. “They have become envoys of friendship between China and Australia, and a symbol of the profound friendship between the two peoples,” Li said in the statement.
Persons: Premier Li Qiang, Li, Scott Morrison’s, Penny Wong, Peter Malinauskas, Asanka, Wang Wang, Fu Ni, China’s, ” Li Organizations: CNN, Premier, Adelaide Zoo, ABC, Labor, Australia's, South Australian, Beijing –, Xinhua, China’s Foreign Ministry, Locations: China, Australia, Southern Australia, Beijing
This week, a judge signed off on Do Kwon and his bankrupt Terraform Labs settling with the U.S. Securities and Exchange Commission for $4.5 billion. This comes after a jury unanimously found Kwon and his company liable for securities fraud following less than two hours of deliberation. But investors piled in anyway, giving luna and UST a combined market value of almost $40 billion at one point. Terraform and Kwon fought our efforts to investigate – taking a fight over investigative subpoenas all the way to the Supreme Court. They are Caroline Ellison, the Alameda Research CEO who at one time dated Bankman-Fried; FTX engineering chief Nishad Singh; and Gary Wang, the co-founder and chief technology officer of FTX.
Persons: Kwon, Woohae Cho, Sam Bankman, Changpeng Zhao, Luna, atoning, Alex Mashinsky, Wall, Stevo Vasiljevic, Reuters Kwon, He's, Satoshi Nakamoto, Elon Musk, Mike Novogratz, Gary Gensler, , Fried, Fatih Aktas, Lewis Kaplan, Kaplan, Bankman, convicting, Prosecutors, Ryan Salame, Caroline Ellison, Nishad Singh, Gary Wang, FTX, Jason Redmond, Zhao, Richard Jones, , Binance, Justin Sullivan Organizations: Terraform Labs, Bloomberg, Getty, U.S, Forbes, Arrows Capital, Voyager, U.S . Securities, Exchange Commission, Labs, U.S . Justice Department, Futures Trading Commission, Treasury Department, bitcoin, BlackRock, Fidelity, Reuters, terraUSD, UST, Traders, Twitter, SEC, Supreme, Anadolu Agency, Alameda Research, ., Republicans, Bankman, AFP, of Prisons, District, Bank, DOJ, CFTC, Treasury, Binance, New, Commercial Bank Locations: U.S, Balkans, Podgorica, Montenegro, Singapore, Dubai, Serbia, Balkan, South Korea, United States, lockstep, New York, Manhattan, Seattle, Lompoc , California, Binance
A court in southern China on Friday found a prominent feminist journalist guilty of endangering national security and sentenced her to five years in prison, Beijing’s latest blow to civil society. A labor activist convicted of the same charge got a sentence of three years and six months. The activities that prompted the arrest and conviction of the two, Huang Xueqin and Wang Jianbing, involved organizing discussions, providing support to other activists and receiving overseas training. The legal action against Ms. Huang and Mr. Wang, which experts said was harsh even by China’s standards, signals the shrinking space for independent discussion of social issues. “We are seeing an almost zero-tolerance approach to even the mildest forms of civil society activism in China,” said Thomas Kellogg, the executive director of the Georgetown Center for Asian Law.
Persons: Huang Xueqin, Wang Jianbing, Huang, Wang, , Thomas Kellogg Organizations: Guangzhou, People’s, Borders, Protect Journalists, Georgetown Center, Asian Law Locations: China
Huang Xueqin, an independent journalist, was found guilty by the Guangzhou Intermediate People’s Court Friday for “inciting subversion of state power,” supporters said. “There are so few people prosecuted because there are only so few victims who report,” she told CNN in a 2018 interview. In the months following their detention, more than 70 friends and supporters of Huang and Wang were summoned by the police for questioning, according to supporters. A close friend of Huang previously told CNN the journalist had suffered significant weight loss in detention and stopped menstruating for months. I have no sense of belonging anymore,” the friend told CNN last year ahead of the closed-door trial.
Persons: Huang Xueqin, , Wang Jianbin, Huang, Wang, , ” Huang, Huang’s, menstruating, it’s Organizations: Hong Kong CNN, Communist, Guangzhou, Labor, CNN, University of Sussex, Amnesty International, Communist Party Locations: Hong Kong, China, Guangzhou, United Kingdom
For this study, researchers analyzed data from the Nurses’ Health Study of more than 45,000 people age 50 or older in 1992 who were also free of chronic disease, according to the study published Tuesday in the journal JAMA Network Open. On the other hand, adding two hours of light physical activity at work added a 6% increase in the odds of healthy aging. Replacing one hour of sitting to watch TV with light physical activity at home or work was associated with better chances of healthy aging, the study showed. More activity and less sitting while watching TV may give you a better chance at healthy aging, a new study showed. “You’re missing out on all that physical activity, which is truly an unbelievable way to reduce cardiovascular risk and blood pressure,” Freeman said.
Persons: , Molin Wang, T.H, Andrew Freeman, Freeman, , ” Freeman, Time, “ You’re, that’s, they’re Organizations: CNN’s, CNN, of Public Health, Jewish Health, Nurses, JAMA Locations: Chan, Denver
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Big opportunity here for Apple', says T. Rowe Price's Tony Wang on AI integrationTony Wang, T. Rowe Price portfolio manager, joins 'Closing Bell Overtime' to talk what came out of Apple's WWDC.
Persons: Rowe, Tony Wang, Rowe Price Organizations: Apple
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