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    U.K. Foreign Secretary James Cleverly said that 1.7 million British citizens live in the Indo-Pacific region.Pacific Press | Lightrocket | Getty Images SINGAPORE — The United Kingdom will commit itself more fully to the Indo-Pacific region, beyond its ongoing efforts to join a massive trade deal in the region, the country's new foreign secretary said Thursday. "The Indo-Pacific tilt is here to stay," James Cleverly said at the Milken Institute Asia Summit. "It is permanent." That "tilt" toward the Indo-Pacific will include further cooperation on economic issues, security matters and "shared values," Cleverly said. The foreign secretary pointed to "our commitment to sovereignty and territorial integrity and freedom from economic coercion, and a shared belief in the value of democracy and open markets." Cleverly said that 1.7 million British citizens live in the region, and the United Kingdom has trade relationships worth $250 billion in the Indo-Pacific. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP, is a trade pact that currently includes seven countries in Asia-Pacific and four in the Americas. It evolved out of the now-defunct Trans-Pacific...
    watch nowVIDEO3:1803:18We're continuing to see new listings from Southeast Asian markets: NasdaqStreet Signs Asia The Nasdaq is expecting more Chinese companies to list on the U.S. exchange in the coming months as Beijing and Washington appear closer to resolving an audit dispute. "We still have a pretty strong pipeline … as things are getting to become a little more clear in that market. We think that that market could pick up pretty dramatically," said Bob McCooey, vice chairman of Nasdaq, who does business development in the Asia-Pacific, told CNBC on Wednesday.related investing newsInvestors 'can't ignore China' even with rising geopolitical risk, pension fund managers sayJesse Pound11 hours agoThe market for Chinese initial public offerings "pretty much [shut] down" in light of the Holding Foreign Companies Accountable Act and the noise around Chinese ride-hailing giant Didi Chuxing, he told "Street Signs Asia." Delisting risk for U.S.-listed Chinese companies sharply increased following the signing of the Holding Foreign Companies Accountable Act in late 2020. The law allows the U.S. Securities and Exchange Commission to kick Chinese companies off American stock exchanges...
    The Chinese yuan weakened past the closely-watched 7.2 level against the greenback this week.Getty Images BEIJING — The People's Bank of China has warned against betting on the yuan, after its rapid decline against the U.S. dollar this week. "Do not bet on a one-sided appreciation or deprecation of the renminbi exchange rate," the central bank said in a Chinese statement on its website late Wednesday, according to a CNBC translation.related investing newsAnalysts are falling back in love with Nvidia, with Citi giving it almost 100% upsideWeizhen Tan2 days agoThat's based on a readout of a speech by vice governor Liu Guoqiang at a video conference meeting on foreign exchange that day. The renminbi, or the yuan, crossed the 7.2 level against the greenback Wednesday, falling to its weakest since 2008. The U.S. dollar index, which tracks the dollar against major global currencies, has climbed to two-decade highs as the U.S. Federal Reserve aggressively raised interest rates this year. The PBOC's statement, with its requirement for banks to maintain stability in the foreign exchange market, is "verbal guidance against the...
    watch nowVIDEO7:0407:04Jim Chanos: The fact there's a meltdown among Chinese developers is a major storyDelivering Alpha Beneath all the clamor over Russia's invasion of Ukraine and the efforts to tamp down inflation, investors are largely passing over a huge story in China, famed short-seller Jim Chanos said Wednesday. Troubles in the Chinese real estate market are a distant third to the war and rate hikes targeted at containing inflation. But Chanos, known in particular for his long history of bets against the world's second-largest economy, said it's a major story with far-reaching implications, particularly at a time when global markets are in a fragile position. "If what is going on in the world, whether it's Russia/Ukraine, whether it's central banks losing control, whatever might be, weren't happening right now, I think what would be happening in the Chinese real estate market would be front and center for investors," the Chanos and Co. founder said Wednesday at CNBC's Delivering Alpha conference in New York. The nation faces a deepening crisis caused by multiple factors, resulting in the worst plunge in home...
    In this article .BBKAFollow your favorite stocksCREATE FREE ACCOUNTChristian Klein, Co-CEO of German software and cloud computing giant SAP, speaks during a press conference to present SAP's financial results for 2019 on January 28, 2020 in Walldorf, southwestern Germany. - German software giant SAP reported a bottom line undermined by heavy restructuring costs, but lifted forecasts for the year ahead.Daniel Roland | AFP | Getty ImagesA strengthening dollar, global inflation, and supply chain issues related to Covid lockdowns in China have been major headwinds for many tech companies. But SAP CEO Christian Klein says the European software giant is an exception.related investing newsAnalysts are falling back in love with Nvidia, with Citi giving it almost 100% upsideWeizhen Tan2 days ago"Our biggest competitors are in the U.S., so the strong dollar actually benefits us. We have a huge tailwind coming from currency." Klein told CNBC, noting SAP reports earnings in euros. In July, the euro fell to parity with the dollar for the first time in 20 years and the greenback has continued to make gains in recent...
    The report indicated that, given in the sustained rise in fatal opioid overdoses last year, "the total cost is likely to continue to increase." The Council of Economic Advisers had estimated the cost of the crisis to have been $696 billion in 2018, or 3.4% of GDP. Previous cost estimates, such as the CEA's, have factored in the value of lost lives, increases in health care and substance abuse treatment costs, increases in criminal justice costs, and reductions in productivity. Bad actorsCraig Singleton, senior fellow at the nonpartisan Foundation for Defense of Democracies, told Fox News Digital earlier this month, "Since approximately 2013, China has been the principal source of the fentanyl flooding America's illicit drug market." While President Joe Biden has previously omitted mention of China's leading role in exporting the fentanyl that has killed hundreds of thousands of Americans, the Drug Enforcement Administration highlighted the communist nation's devastating contributions in a January 2020 report. The report indicated that "Mexico and China are the primary source countries for fentanyl and fentanyl-related substances trafficked directly into the United States." In...
    by Gabe Kaminsky   Salesforce CEO Marc Benioff said Friday his multinational software company may “exit” Republican states over anti-abortion laws. At the same time, however, Benioff through his business has investments located in China, a country that has engaged in human rights abuses. “If you’re going to discriminate against our employees, we’re not going to set up shop there,” Benioff said Friday to a CNN anchor asking whether Salesforce is “considering” moving out of places “restricting or outlawing abortion.’” “We have to be for equality, we have to be for dignity, we have to be for the equality and dignity of every human being,” he said. “If you’re not for equality and dignity, then this is not something I can work with and we’re going to have to exit your city or your state.” Several red states have moved to outlaw or restrict abortion access after the U.S. Supreme Court overturned Roe v. Wade in June. Democratic lawmakers, liberal activists and corporations have condemned the decision. Even before the court’s decision, Salesforce informed employees it would pay employees’ travel costs to get abortions should the court overturn Roe. This is not the first time...
    In this article 2317-TW TSM 2330-TW AAPLFollow your favorite stocksCREATE FREE ACCOUNTCustomers try out new iPhones at an Apple store as iPhone 14 series go on sale on September 16, 2022 in Shanghai, China.VCG | Visual China Group | Getty ImagesShares of Apple fell about 2.6% in premarket training on a report that the company has told suppliers to bail on plans to increase iPhone 14 production. Demand for the new models failed to spike as high as anticipated, according to Bloomberg. Apple will no longer aim to increase production by 6 million units in the second half of the year as it had planned, according to the report. The company will strive to produce 90 million units instead, which is roughly in line with Apple's forecast and production from last year, according to Bloomberg. The report also impacted Apple supplies and manufacturers. Shares of key chipmaker Taiwan Semiconductor Manufacturing also fell about 2.3% before the market open. Shares of Hon Hai, also known as Foxconn, were down about 2.9%. Foxconn builds Apple's iPhones. Demand for the iPhone 14...
    Lego Star Wars toys sit on display inside a Toys "R" Us Inc. store in Paramus, New Jersey, U.S., on Tuesday, Nov. 26, 2019.Bloomberg | Getty Images Lego sales are building on pandemic-era growth, boosted by popular sets from Lego Star Wars and Lego Harry Potter. On Wednesday, the privately held Danish toymaker said revenue during the first six months of the year jumped 17%, reaching $27 billion Danish krone, or about $3.5 billion. Lego was among the toy companies that saw massive gains during the pandemic, as consumers of all ages gravitated toward its building sets for entertainment. CEO Niels Christiansen touted the company's diverse selection of toys and their appeal across generations for the continued sales surge. "It is the broadest one we ever had," Christiansen said of Lego's current portfolio. "It's preschool, it's kids, it's girls and boys, it's teens, it's adults — it's actually across the board that the portfolio is super strong." In addition to top-selling Star Wars and Harry Potter models, Lego has seen strong performance in its homegrown Lego Technic and Lego City. "I...
    A young Beijing company's game called "Sheep a Sheep" went viral in China in September 2022.Evelyn Cheng | CNBC BEIJING — A new game that's gone viral in China hit people's screens with surprising speed at a time when gaming giants such as NetEase have waited months for approval to launch games. That's because the new game, called Sheep a Sheep, sits inside ByteDance's Douyin and Tencent's messaging app WeChat as a mini-program. Users can play the game within the apps. "WeChat and ByteDance don't currently require a game license to publish their HTML5 games on their platforms," said Rich Bishop, CEO of AppInChina, which publishes international software in China. "But this is likely to change over the next few months as enforcement of existing regulations intensifies," he said. HTML5 games are built with coding tools similar to those used for websites and can be easily distributed across platforms. WeChat and ByteDance did not respond to a CNBC request for comment.Sheep a Sheep just went viral these past few days. Very fresh to everyone, especially regulators.Brian Tycangcoanalyst, Stansberry ResearchWeChat's mini-program...
    According to a report on Morocco’s reputation in the world conducted by the Royal Institute for Strategic Studies (IRES), Morocco’s image in the world remains “positive”, ranking 32nd in the world. ). The kingdom is well regarded in China and has a bad reputation in Spain. In 2022, this report, produced in collaboration with the “Laboratory of Reputation”, an international company specializing in the field of nation branding, indicates that Morocco has a good image in the G7 + Russia. Morocco ranks 32nd out of 60 countries with the highest GDP. The kingdom’s score reached 48.6 points, not far from the average of 49.4 points for major world economies. With its ranking of 32 out of 72 assessed by two research firms, Morocco has a good reputation, similar to that of the United States. Its reputation is better than that of Chile, Vietnam or South Korea and BRICS countries (Russia, Brazil, India, China). The Kingdom has the best reputation compared to all analyzed Arab and African countries. Since 2019, the country has significantly improved its image abroad, especially in...
    A warning from the Drug Enforcement Agency about fentanyl designed to look like candy had the co-hosts of the Fox News roundtable show The Five urging that strict precautions be taken on Halloween. In August, the government agency reported that brightly colored fentanyl pills, powder, and blocks have been seized in 18 states, with DEA administrator Anne Milgram saying the colors are indicative of a “deliberate effort by drug traffickers to drive addiction amongst kids and young adults.” Senate Majority Leader Chuck Schumer (D-NY) called the development “really worrisome and really dangerous” in a press conference Sunday and pushed for the government to spend $290 million to address the issue through Overdose Response Strategy teams. “I’m happy he’s talking about it,” co-host Jeanine Pirro said of Schumer. “But shouldn’t he be sounding the alarm with the White House? Shouldn’t the White House be talking about the fact that this is happening, or would it be too dangerous?” “Absolutely,” Brian Kilmeade replied. “If you really cared, you would actually be saying, ‘China to cartel, across the border, into your bedroom, into...
    Submit your letter to the editor via this form. Read more Letters to the Editor. Cartoon accurately contrasts presidents The cartoon published on the East Bay Times’ opinion page Sept. 13 made my day. The “Cartoonist’s View” was a true picture of our former presidents and their accomplishments following their tenures in the White House. And what a comparison between those other three former presidents’ achievements and former President Donald J. Trump. There is no doubt that all three U.S. presidents were of the same caliber, but one we elected was found to be a sloppy sinner. Zafar Yousufzai Fremont Measure M deserves Pleasant Hill’s yes vote The Pleasant Hill City Council urges a yes vote on Measure M, making the position of city treasurer an appointed rather than elected position. Currently, the only requirement to be the elected city treasurer is to be a registered Pleasant Hill voter. This is simply not enough of a qualification for a job that requires financial expertise, records management skills, and knowledge of state and federal laws. Most Contra Costa County cities appoint...
    The Navy’s most advanced surface warship is on a mission in the Asia-Pacific, and it could be the precursor for the deployment of hypersonic missiles to the region. One of the Navy’s new class of guided missile destroyers, the USS Zumwalt, reached Japan on Monday, according to the Washington Times, which described the warship’s current deployment as its furthest from its port home of San Diego, California. Its presence in the region will likely stir up consternation within the Chinese government as the two sides regroup from a brief escalation of tensions as House Speaker Nancy Pelosi (D-CA) visited Taiwan. PENTAGON CONFIRMS RUSSIA'S USE OF IRANIAN DRONES IN UKRAINE This destroyer, which is assigned to Destroyer Squadron 15, will be upgraded next year to accommodate the Pentagon’s Common Hypersonic Glide Body, a weapons system that fires hypersonic missiles using a booster rocket motor, according to a report from the U.S. Naval Institute last month. The glide body “is to be maneuverable, making it more difficult to detect and intercept and can travel at Mach 5 or higher … at least...
    Dozens of GOP lawmakers are sending a letter to the Biden Cabinet sounding the alarm over a massive Chinese farmland purchase conveniently located only 20 minutes from a major military base.  Recently Fufeng Group, a Chinese-based manufacturer with close ties to the Chinese Communist Party (CCP), purchased 300 acres of land in Grand Forks, North Dakota, just down the road from Grand Forks Air Force Base.  China now owns nearly 200,000 acres of US agricultural land worth $1.9 billion.  Rep. Carlos Gimenez, R-Fla., is leading a group of 51 lawmakers in raising suspicion about the purchase in a letter to Defense Sec. Lloyd Austin, Treasury Sec. Janet Yellen and Agriculture Sec. Tom Vilsack.  The letter cited a report from the United States-China Economic and Security Review Commission warning the base has 'exceptional intelligence, surveillance, and reconnaissance capabilities.'  Rep. Carlos Gimenez, R-Fla., is leading a group of 51 lawmakers in raising suspicion about the purchase in a letter to Defense Sec. Lloyd Austin, Treasury Sec. Janet Yellen and Agriculture Sec. Tom Vilsack 'The presence of a CCP-affiliated corporation near a military...
    Beijing has for a long time accused the U.S. of carrying out cyberattacks on Chinese targets. But more recently, it has accused the U.S.'s National Security Agency of hacking specific targets.Beebright | Istock | Getty Images China accused a top U.S. spy agency of stealing Chinese user data and infiltrating the country's telecommunications infrastructure, according to a report published Tuesday, which lays out details of the alleged cyberattack method. Chinese state media last week first reported on an alleged attack by the U.S. National Security Agency on China's government funded Northwestern Polytechnical University and promised that more details would follow. Tuesday's report from China's National Computer Virus Emergency Response Center and cybersecurity company 360, lays out the specific ways the alleged attack was carried out. The report adds further tension between the U.S. and China in the cyber sphere. Beijing has for years accused Washington of carrying out cyberattacks, but rarely discloses details of specific incidents. This new report is a change in approach from China. The report, published in the state-backed People's Daily newspaper, claims the NSA began with...
    In this article METAFollow your favorite stocksCREATE FREE ACCOUNTOnur Dogman | Lightrocket | Getty ImagesFacebook parent company Meta said it took down two unconnected networks of accounts based in China and Russia for seeking to influence political narratives in the U.S. and Europe. The platform regularly searches for and removes accounts it believes to have violated its policy against coordinated inauthentic behavior. Such activity became a flashpoint in the U.S. after the 2016 presidential election when intelligence agencies found Russian groups had used social media platforms to push divisive narratives in the U.S. The Russia-based influence campaign mainly targeted Germany as well as France, Italy, Ukraine and the U.K. Starting in May, a network of more than 60 websites impersonating legitimate news organizations in Europe posted original articles criticizing Ukraine and arguing against Western sanctions on Russia, Meta said. The group would promote the articles and original memes and YouTube videos across platforms including Facebook, Instagram, Telegram, Twitter and Change.org, it added. Meta called the operation "the largest and most complex Russian-origin operation that we've disrupted since the beginning...
    "The golden age of globalization that we experienced in the last 30 years since the end of the Cold War has ended clearly and we are entering a new era, a new era that will be marked by greater geopolitical contestation," said Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong.Bloomberg | Bloomberg | Getty Images The golden age of globalization has ended and a fundamental change to the way the world works is underway, said Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong. Though countries have not fully retreated into protectionism, businesses are increasingly influenced by geopolitical tensions, Wong said during a dialogue at the Forbes Global CEO Conference in Singapore on Monday night, referring specifically to strained relations between the U.S. and China. Wong said, however, that Singapore and the rest of ASEAN want a balanced relationship with both the U.S. and China and prefer that the two countries engage with the region "on its own merits" rather than through the prism of a U.S.-China relationship. "Where previously the logic was, countries do not have...
    A woman shops inside a Garcia's Supermarket store in Quezon City, Philippines on Sept. 5, 2022.Iya Forbes | Bloomberg | Getty Images Inflation in consumer goods will persist as a "new normal" as the global economy undergoes structural changes, Asian business leaders warn. While rising interest rates might eventually temper asset prices, deglobalization and decarbonization could continue to drive up costs for everyday goods, said V. Shankar, chief executive of emerging markets investment manager Gateway Partners.  "Inflation is here to stay come hell or high water, irrespective of what the central banks do because there are some structural, intractable problems that have led to higher prices," Shankar said Monday at the Forbes Global CEO Conference in Singapore. "Despite helicopter money and zero interest rates, the reason why the price of goods stayed down for so long is because of a vast efficient manufacturing agent called China, and the integration of global supply chains." That integration paved the way for cheaper goods. But now, catalyzed by the pandemic, there are new threats to interwoven global supply chains as countries look to...
    by Philip Lenczycki   A decade-old Chinese-language press release reveals an elite Washington, D.C., think tank knew of a prominent Chinese academic’s high-ranking Communist Party position before hiring him a month later — an affiliation the think tank omitted from the English-language press release heralding the opening of their new center in Beijing. This new revelation comes as the Carnegie Endowment for International Peace takes fire from Republicans on Capitol Hill after a Daily Caller News Foundation investigation found the think tank employed at least 20 Chinese Communist Party (CCP) members during current CIA director William Burns’ tenure as the group’s president. “The amount of CCP infiltration at Carnegie shows that Director Burns was aware and intentionally concealed it from the American people, or he was grossly incompetent,” Texas Republican Rep. Lance Gooden told the DCNF. “Anyone who enables our top adversary is not fit to lead a U.S. intelligence agency.” Carnegie opened its Beijing headquarters, Carnegie-Tsinghua, in partnership with a Tsinghua University humanities department in April 2010. Carnegie published two conflicting announcements in Chinese and English, both of which quoted Shi Zhiqin, who in the English-language release was described as...
    In this article EXPEFollow your favorite stocksCREATE FREE ACCOUNT Travelers headed to Hong Kong no longer need to quarantine in a hotel upon arrival. But they will have to submit to a barrage of Covid tests. They can go to work, take public transportation and go to supermarkets, but for the first three days, travelers can't go into "high-risk premises" such as restaurants, bars and gyms. Visitors who plan an eight-day trip must take 12 tests — four PCR and eight rapid antigen tests — which averages to 1.5 tests per day. Moreover, those who test positive must isolate in a community facility for at least a week. Still, the relaxed rules are welcome news to the city's residents, who have endured hotel quarantine restrictions of up to three weeks at various points during the pandemic. The news came the day after Hong Kong lost its No. 3 ranking on the The Global Financial Centres Index, ceding its position to Singapore, which climbed three places — surpassing Hong Kong and Shanghai — to become Asia's top financial center.The new rulesThe new...
    In China, new energy vehicles typically receive green license plates - which is often easier for residents to apply for versus the blue license plate of a traditional fuel-powered car.Vcg | Visual China Group | Getty Images BEIJING — While Chinese companies churn out new electric cars, local insurance firms think they're more expensive to cover. In general, the insurance premium for new energy cars — which includes electric — is about 20% higher than it would be for comparable traditional fuel-powered cars, said Wenwen Chen, director at S&P Global Ratings, who leads the firm's research for China insurance. Many factors go into determining pricing. But Chen said insurance companies find that the loss ratio — a measure of cost for insurers — tends to be higher for new energy vehicles than for internal combustion engine cars. One of the main reasons she cited for a higher loss ratio is more accidents, especially more costly ones — since new energy vehicles often use parts that aren't mass-produced yet. In the U.S., insurance for electric cars also tends to be about...
    While Guterres regards the direction of funds from these and other such corporations to the third-world as "the first priority of every government," the "climate-related and justice-based" global wealth redistribution efforts won't stop there. He also proposed a new tax on airline travel, a financial penalty on bunker fuels used by ships, additional taxes on fossil fuel extraction, and taxes on financial transactions. Appropriated funds would allegedly be invested in early warning systems, disaster relief, and the development of infrastructure to withstand additional weather changes. Richard Heede, who runs the Climate Accountability Institute's "Carbon Majors" project, told Ars Technica that while there are presently no mechanisms for the international body to tax oil and gas companies or force payments from them in this manner, "Guterres is correct" to prompt nations to get the ball rolling. Although Guterres implicated entire nations in addition to corporations, it is unclear precisely which wealthy countries he would like to see opt in. China, for instance, boasts the world's second biggest economy, yet it still claims to be a developing country. According to...
    People use their smartphones to take photographs outside The Wynn Macau casino resort, operated by Wynn Resorts Ltd., in Macao, China, on Tuesday, Jan. 30, 2018.Billy H.C. Kwok | Bloomberg | Getty Images China's long-awaited decision allowing tour groups from the mainland to travel to Macao sent shares of casino companies with operations in the Asian gambling hub soaring Monday.
    Apple announced that it will assemble its latest iPhone in India, a significant change for the tech giant after relying on China for building most of its devices. Apple's primary assembler partner, Foxconn, will open a factory for constructing iPhone 14s at its India-based factory in Chennai, according to CNBC. While Apple has used Indian factories in the past to construct older models, the decision to build its latest devices there shows a waning reliance on China and its assembly centers. US AND TIKTOK REPORTEDLY REACH PRELIMINARY DEAL TO RESOLVE NATIONAL SECURITY FEARS "The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We're excited to be manufacturing iPhone 14 in India," the company said in a statement. The company will sell phones built in Indian factories locally and in global markets. The mobile devices will be available in India in the next week. Apple has relied on China for the production of the majority of its devices for years, often making it a point of complaint from China critics. However, the...
    The Biden administration has reportedly reached a preliminary agreement with TikTok to address U.S. fears that the app could compromise national security through connections to the Chinese government. The social media platform has worked out the details of a deal with the White House to change its data security practices and governance without requiring its Chinese parent company, ByteDance, to sell TikTok, according to the New York Times. The two parties are still working out the specifics, with the Justice Department and Treasury Department taking the lead in the negotiations. The deal includes three key changes. First, American data will be stored in servers operated by the company Oracle. Second, the company will monitor TikTok's algorithms to ensure that the Chinese government will not modify them. And third, the company will create a board of security experts to oversee the operations of the servers. TIKTOK COULD BE FINED $27M BY UK WATCHDOG FOR FAILING TO PROTECT CHILDREN'S DATA Still, some negotiators, including Deputy Attorney General Lisa Monaco and some Treasury Department officials, fear that the measures...
    A new image of the surface of Mars has revealed the planet may have experienced episodic flooding millions of years ago. The Zhurong Mars rover has returned ground-penetrating radar data of the Utopia Planitia basin - an impact crater thought to have once hosted an ancient ocean. The image was constructed from the data by scientists from the University of Chinese Academy of Sciences and Peking University, and shows multiple sub-layers on the basin's surface. The sedimentation and layered structure suggests the Red Planet sustained regular flooding during the Late Hesperian to Amazonian period. However, the team did not find any liquid water in the upper 80 metres of the basin, but believe some could be present lower down. A: The low-frequency radar imaging profile, with the black line denoting the topography relative to the landing site. The dashed line above 10 m denotes the estimated bottom of the regolith top layer. The two lines at depths of around 30 and 80 m represent the boundary between the second and third layers and the base of the third layer, respectively. The two dashed lines...
    Vice President Kamala Harris condemned China’s actions in the Taiwan Strait while meeting with Japanese Prime Minister Fumio Kishida and reiterated Washington’s commitment to Tokyo’s defense on Monday. Harris and Kishida “discussed the People’s Republic of China’s recent aggressive and irresponsible provocations in the Taiwan Strait, and reaffirmed the importance of preserving peace and stability across the Taiwan Strait,” the White House said in a statement. NOT US VERSUS THEM: BIDEN SOFTENS CHINA COMPETITION ALLY PITCH Harris's assurance comes one week after President Joe Biden told 60 Minutes that he was prepared to use U.S. troops to defend Taiwan, the democratically ruled island Beijing claims, before the White House said after the interview that national policy had not changed. The United States maintains a policy of “strategic ambiguity” on whether it will help Taiwan defend itself in the face of Chinese aggression. Harris is leading the U.S. delegation to the state funeral of former Prime Minister Shinzo Abe of Japan and is meeting with Indo-Pacific leaders during the visit to Tokyo and South Korea. During the meeting on Monday,...
    3 takeaways from our daily meeting: Market stabilization, putting cash to work, China's reopening
    CHINA is awash from rumours of Game of Thrones-style plotting as the intrigue rocks the Communist Party. President Xi Jinping has not been seen in public since he returned from a summit of Uzbekistan on September 16. 3Chinese President Xi Jinping during his last public appearence on September 16Credit: Reuters His ten day absence from the public eye has sowed the seeds of rumour and speculation ahead of a key meeting next month of the Communist Party. The Chinese state has not officially commented - but their state media reports all is normal and has mentioned Xi. The 69-year-old leader - who has been leading the giant nation for ten years - as often been the centre of intrigue around his health and future. Xi's absence has fuelled speculation as there was a cabal of four high profile security officials who were jailed for corruption at the same time. READ MORE ON CHINAAXIS OF EVIL Russia & China begin war games with 50,000 troops in message to the West RISE OF THE MACHINES China tests flying sub...
    Regulators in the United Kingdom have threatened to fine TikTok over allegations it mishandled child privacy on its platform. The U.K.-based Information Commissioner's Office issued the China-based video app a "notice of intent" on Monday, a legal notice informing the company of potential breaches of data protection laws. These breaches allegedly occurred between May 2018 and July 2020 and could result in fines up to nearly $27 million. ELON MUSK FACES DEPOSITION WITH TWITTER AHEAD OF OCTOBER TRIAL "We all want children to be able to learn and experience the digital world, but with proper data privacy protections," argued U.K. Information Commissioner John Edwards in a press statement. "Companies providing digital services have a legal duty to put those protections in place, but our provisional view is that TikTok fell short of meeting that requirement." The notice claims that TikTok may have processed the data of users 13 or younger without parents' consent and failed to provide accurate information to users in a "concise, transparent and easily understood way." The office said it had not...
    In this article XPEV NIO LI 9868-HK 2015-HKFollow your favorite stocksCREATE FREE ACCOUNTLi Auto warned that "supply chain constraint" would mean the company will deliver fewer cars than expected in the third quarter. Meanwhile, China has extended a tax exemption for new energy vehicles until the end of 2023 as it looks to spur growth for electric cars.CFOTO | Future Publishing | Getty ImagesShares of Li Auto fell in pre-market trade in the U.S. on Monday after the Chinese electric carmaker cut its delivery guidance for the third quarter. Meanwhile, rival electric car companies Nio and Xpeng jumped as Beijing announced an extension of tax breaks for electric car purchases. Li Auto said that it now expects to deliver 25,500 vehicles in the third quarter down from a previous outlook of between 27,000 and 29,000 units. Shares of Li Auto were around 2% lower in pre-market trade. "The revision is a direct consequence of the supply chain constraint, while the underlying demand for the Company's vehicles remains robust," Li Auto said in a statement. "The Company will continue to closely...
    New Delhi (CNN Business)Apple has started making its new iPhone 14 in India, as the technology giant looks to diversify its supply chain away from China. While the company manufactures the bulk of its products in China, it has decided to start producing its latest devices in India much earlier than with previous generations. The company unveiled its new iPhone three weeks ago. The latest devices offer updated camera systems, a new interactive lock screen and on Pro models, much faster performance. The company also introduced new safety features, such as car-crash detection technology and an Emergency SOS tool."The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We're excited to be manufacturing iPhone 14 in India," the company said in a statement on Monday, confirming weeks of speculation. Apples latest products and features take aim at our greatest fearsApple devices are manufactured in India by Taiwan's Foxconn, Wistron and Pegatron, but the company would typically start assembling models in the country only seven to eight months after launch, Tarun Pathak, a research director at Counterpoint, told...
    In this article AAPLFollow your favorite stocksCREATE FREE ACCOUNTA view of the new iPhone 14 at an Apple event at their headquarters in Cupertino, California, September 7, 2022.Carlos Barria | ReutersApple said Monday it is assembling its flagship iPhone 14 in India as the U.S. technology giant looks to shift some production away from China. "The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We're excited to be manufacturing iPhone 14 in India," Apple said in a statement. Apple's main iPhone assembler Foxconn is manufacturing the devices at its Sriperumbudur factory on the outskirts of Chennai.  The Cupertino giant has been manufacturing iPhones in India since 2017 but these were usually older models. This time with the iPhone 14, Apple is manufacturing its latest model in India for the first time, close to the device's launch. Apple launched the iPhone 14 earlier this month. Apple will sell India-produced phones locally but also export them to other markets globally. Customers in India will begin receiving the locally produced devices in the next few days. JP Morgan...
    (CNN)Cardinal Joseph Zen, a 90-year-old former bishop of Hong Kong and outspoken critic of China's ruling Communist Party, went on trial Monday over his role in a relief fund for the city's pro-democracy protests in 2019.The high-profile case has brought renewed focus on the warming ties between Beijing and the Vatican, which has seen the latter appear to avoid remarks that could risk upsetting China.Zen, one of Asia's most senior Catholic clerics, was arrested by Hong Kong's national security police in May along with three other leading democracy activists, including Cantopop star Denis Ho.The four trustees of the protest fund were initially arrested on suspicion of "collusion with foreign forces," a charge under a sweeping national security law that carries a maximum punishment of life imprisonment.They have since been charged with a lesser offense for failing to register the 612 Humanitarian Relief Fund, set up in June 2019 to help pay the legal and medical fees for protesters under arrest. The fund ceased operations last year following an investigation by the national security police.Read MoreThe charge under the Societies Ordinance,...
    In this article BABA KRFollow your favorite stocksCREATE FREE ACCOUNTKroger | ReutersNow going on 140 years in business, Cincinnati-based Kroger sped up its push into digital retailing during the pandemic, and grocery store chain isn't looking back.       Kroger has adopted an omnichannel strategy, integration of offline or in-store sales with online orders and logistics. It's a concept that originated in China in 2016 when founder Jack Ma of e-commerce giant Alibaba coined the term "New Retail" and proceeded to open 300 high-tech Freshippo-branded supermarkets in 27 Chinese cities. This "New Retail" model has been "cut and pasted from businesses that worked in China," said Michael Zakkour, founder of digital commerce and retail consultancy 5 New Digital in New York. "We are seeing it with Kroger, Target and Walmart. They looked at the New Retail model born in China for complete integration of offline and online channels," he said. "Same-day delivery, restaurants in store, app-driven sales and QR codes are all bright spots in every single one of them, and all happened first in China." At first, the highly...
    by Eric Lendrum   On Thursday, Florida Governor Ron DeSantis (R-Fla.), announced a series of executive orders and proposed legislative actions aiming to reduce the influence of hostile foreign nations such as China. The Daily Wire reports that DeSantis’ proposals focus on seven nations in particular: China, Iran, North Korea, Russia, Venezuela, Cuba, and Syria. The proposed measures will cover each of these nations’ respective efforts to target the state of Florida through such means as cyberspace, real estate purchases, and academic influence. “From server farms to farmland, the Communist Party of China has been worming its way into our nation’s data storage systems and buying up tracts of land near sensitive national security sites,” said DeSantis in a statement. “By prohibiting the purchase of lands, state contracts with Chinese technology firms, and the infiltration of CCP-affiliated groups such as Confucius Institutes, Florida is leading the way to protect our nation from international foes.” One of the executive orders signed by DeSantis forbids government entities from purchasing technology and services companies that are in any way owned, controlled, or domiciled...
    RUSSIA's Foreign Minister Sergei Lavrov has hinted Russia might have lost one of its last allies after he indicated an uneasy relationship with former supporter China. In recent days, China and India, once billed as friendly nations by the Kremlin, have heaped pressure on Vladimir Putin, following the president's biggest escalation of the Ukraine war - including nuclear threats and nationwide mobilisation. 3Russian President Vladimir Putin is find himself more and more isolatedCredit: Alamy 3Putin's two long time allies have been distancing themselves from himCredit: Alamy Lavrov, who was speaking at the UN General Assembly on Saturday, refused to answer a reporter's question about whether China is pressuring the Kremlin to end the war soon. Lavrov first argued about the journalist's choice of words before slamming:  "Tell your readers that I avoided the question." China's Foreign Minister Wang Yi, who was also present at the 77th session of the UN General Assembly, called for a negotiated end to the war. "China supports all efforts conducive to the peaceful resolution of the Ukraine crisis. The pressing priority is to facilitate talks for...
    NEW YORK — China scolded President Joe Biden for pitching liberal democracies against other systems of government during its United Nations General Assembly address. Without mentioning Biden by name, Chinese Foreign Minister Wang Yi contended that different governing systems "should not be used as an excuse for division," repeating the Chinese Communist Party's "One China" policy, reiterating its position against protectionist economics, and appealing to developing countries. He added that democracy and human rights should not be deployed as “tools" to achieve "political ends.” BIDEN MAKES HIS LONG-SHOT UN SECURITY COUNCIL REFORM PITCH "Turbulence and war can only open Pandora’s box," Wang told the U.N. Saturday through a translator. "We should jointly oppose group politics and bloc confrontations. ... All of us should pull together to navigate the ship through a storm." Wang's address echoed comments he made Thursday at the Asia Society on the sidelines of the General Assembly. There, he told the nonprofit organization that America's posture toward China should be based on "mutual respect," "peaceful coexistence," and "win-win cooperation," warning disagreement over Taiwan undermines bilateral relations. "Taiwan independence...
    MARTIAL ARTS master Joe Joyce reckons his kung fu schooling will help him give Joseph Parker a belting on Saturday. The Putney Juggernaut, 37, missed his own graduation and blew his final student loan instalment to fly 8,000 miles and study at a Shaolin monastery in China. 4Joyce is trained in Kung FuCredit: Reuters 4He is set to face Parker on SaturdayCredit: Reuters Joyce — who studied fine art at Middlesex University and excelled at rugby and athletics in his youth — faces New Zealand heavyweight Parker in Manchester. And the winner will be in line for a world-title shot at the WBO crown, currently held by Oleksandr Usyk. After returning from another Las Vegas training camp, the 14-0 pro — who was robbed of Olympic gold at the 2016 Rio games — told SunSport: “I have always chosen to travel for training, I have never feared that or shied away from it. “I took myself to China to do Shaolin kung fu just after I graduated. I actually missed the ceremony, so I never threw my hat in the...
    CHINA has revealed plans to explore Jupiter and Uranus in an upcoming mission. The ambitious mission is dubbed Tianwen 4 and will be carried out using two spacecraft. 1Chinese Space Station Tiangong orbiting EarthCredit: NASA The pair of spacecraft will be launched using China's Long March 5 rocket to investigate Jupiter and Uranus around 2030. Jupiter's system will be investigated by the main spacecraft, which will eventually enter orbit around the moon Callisto. China reportedly wants to focus its efforts on Callisto to gain insight into the origin of the Jovian system. Also of interest to the nation is exploring Jupiter's erratic satellites. Read more on ChinaNEW DIRECTION Growing Russia threat forces UK to rip up years of strategy, Truss to warnTHE SUN SAYS PM's bid to end complacency about China and Russia's threat is beyond dispute Meanwhile, the second, smaller spacecraft will be heading towards Uranus. Space domination China's latest announcement to explore Jupiter and Uranus is part of an entire mission dubbed Tianwen to study our solar system. A little over two years ago, the nation sent the Tianwen...
    An Arctic wolf has been cloned for the first time by a Beijing-based gene firm that took a donor cell from a wild female Arctic wolf and combined it with an embryo that was grown inside a beagle, which shares genetic ancestry with ancient wolves to ensure the process was successful. The pup, named Maya, was born in June but Singogen Biotechnology waited to announce her birth until she was 100 days old with the hopes the clone would be in good health, and it is. Arctic wolves are not endangered like other breeds, but Singogen hopes to use this process to save other species that are at risk of extinction. Although this is a scientific breakthrough, the cloning of animals is met with controversy as activists say the animals involved suffer in surgeries necessary to obtain donor cells and transfer embryos. Maya was born in June, but the company waited 100 days to show her to the world to ensure she was healthy RELATED ARTICLES Previous 1 Next Forget being right or left-handed! Octopuses...
    The former justice minister for the Chinese government has been sentenced to life in prison for accepting bribes during his tenure, marking the latest development in a purge of government officials in the country. Fu Zhenghua, who has led several high-profile investigations during his time as justice minister, was sentenced to a suspended death sentence that will later be commuted to life imprisonment after two years, according to state media reports. His sentence comes after he admitted to accepting more than 117 million yuan (roughly $16 million) in bribes to bolster his personal gain. BIDEN ALLOWED CHINA’S FENTANYL RELATIONSHIP WITH MEXICAN CARTELS TO FLOURISH: GOP Investigations into Fu’s conduct began in 2015 after the conviction of Zhou Yongkang, a former security czar who was charged with bribery after an investigation led by Fu. Ahead of Fu’s trial this year, Chinese officials accused Fu of being part of a “political gang” of Sun Lijun, one of the most high-profile officials targeted in the aftermath of Zhou’s ouster. Sun had also admitted on state television in January that...
    Hong Kong (CNN Business)Leaders of America's biggest banks say they would follow any US directive on pulling business from China if Taiwan is ever attacked by Beijing.JPMorgan (JPM) CEO Jamie Dimon, Citi (C) CEO Jane Fraser, and Bank of America (BAC) CEO Brian Moynihan were all pressed on the subject Wednesday by US Congressman Blaine Luetkemeyer, from Missouri, in a Capitol Hill hearing."We'll follow [the] government's guidance, which has been for decades to work with China, and if they change that position, we'll immediately change it, as we did in Russia," said Moynihan, citing the corporate response to Russia's invasion of Ukraine.Dimon said JPMorgan would "absolutely salute and follow whatever the American government says — which is you all — and what you want us to do."Asked what she would do if the decision was left to her, Fraser said that it was "highly likely that we would have a materially reduced presence, if any at all in the country." Read More"We very much hope it doesn't happen," she added.Citi CEO Jane Fraser speaking beside JPMorgan CEO Jamie Dimon during...
    In this article 300750-CN 300750-CNFollow your favorite stocksCREATE FREE ACCOUNTCATL is the world's largest electric vehicle battery maker and supplier to the likes of Tesla and Ford.Pavlo Gonchar | Sopa Images | Lightrocket | Getty ImagesThe world's largest electric vehicle battery maker CATL is evaluating whether to expand its battery swapping business to international markets, a senior executive told CNBC. CATL, or Contemporary Amperex Technology Co. Limited, is a supplier to companies such as Tesla and Ford. In January, the Chinese battery manufacturer launched its battery swapping business called EVOGO in China across 10 cities. The aim is to remove the need for electric cars to stop at recharging stations. Instead, drivers can rent battery packs from CATL and put them into the car when their other battery runs out. This takes a matter of minutes. Nio, an electric car start-up in China, also has a rival battery swapping program. The company plans to expand that to building 1,000 battery swapping stations outside China by 2025, with the majority in Europe, Nio co-founder Qin Lihong, told Reuters this week....
    In a nasty, angry outburst with the parents of children slaughtered in Newtown, Connecticut in the courtroom, conspiracy theorist and far right-wing provocateur Alex Jones said he “legitimately” thought the massacre of 20 young children and six adults during the 2012 Sandy Hook Elementary School shooting “might have been staged.” It was an ugly, vicious scene. Christopher Mattei, attorney for the Sandy Hook families, “raised his voice, turned and gestured toward the families packed into the front of the court room and told Jones, ‘You put targets on all their backs,'” the Hartford Courant reports. “Just like all the Iraqis that you liberals killed,” Jones responded. “You’re unbelievable. You switch on emotions on and off,” he accused, calling Mattei an ambulance chaser. “Why don’t you show a little respect?” Mattei replied. “Objection!” Jones’ attorney decried. “You have families in this courtroom here, that lost children, sisters, wives, moms…” Mattei told Jones. READ MORE: Trump Judge Smacks Down Dershowitz’s Demand DOJ Give Back Mike Lindell’s Seized Cell Phone in Scathing Ruling “Several of the victims’ families were sitting in the courtroom...
    Republican leader Kevin McCarthy is releasing a new strategy ahead of the 2022 midterms in the bid for his party to retake the House with a plan that includes piling forces into the overwhelmed border, combatting 'woke' policies and taking on China.  The GOP's Commitment to America, set to be rolled out during an event led by McCarthy in Pennsylvania on Friday, includes a five-point plan to secure the border, which would fully fund border enforcement and put an end to catch-and-release loopholes. It also places a huge emphasis on reducing spiking crime rates by allocating more resources toward hiring local and state law enforcement and a crack-down on prosecutors who refuse to pursue cases against violent criminals. The strategy, according to Republicans familiar with the project, would establish a select committee solely focused on China and the rising threat from the communist nation. House Republicans also want to implement a 'Parents' Bill of Rights' to give parents more say in their children's public school education.  The minority leader's strategy aims to address all the major issues facing the country...
    Originally, before this provision was stripped out in an amendment, China would have been given an extra decade over the U.S. in continued use of HFCs. As Ben Leiberman, an energy policy analyst at the Competitive Enterprise Institute, notes, this treaty is essentially a handout to China: This includes an HFC phasedown schedule that gives these countries an extra ten years. Thus, factories located in China will have access to cheap and plentiful HFCs long after supplies get tight for facilities located here. To make matters even worse, the U.S. is the single largest contributor to a UN fund that will assist China and other developing nations with compliance. So, we will be giving China an unfair advantage and sending them tax dollars as well. The cruel irony is that HFCs were used in air conditioning to replace the original substances phased out under the original Montreal Protocol because they were deemed better for the ozone layer. But now they are claiming that HFCs are bad for global warming (which they artfully renamed “climate change”), so we...
    Beijing has for a long time accused the U.S. of carrying out cyberattacks on Chinese targets. But more recently, it has accused the U.S.'s National Security Agency of hacking specific targets.Beebright | Istock | Getty Images A U.S. intelligence agency gained access to China's telecommunications network after hacking a university, Chinese state media claimed Thursday. The U.S. National Security Agency used phishing — a hacking technique where a malicious link is included in an email — to gain access to the government funded Northwestern Polytechnical University, the Global Times alleged, citing an unnamed source. American hackers stole "core technology data including key network equipment configuration, network management data, and core operational data," and other files, according to the Global Times. As part of the NSA's hack, the agency infiltrated Chinese telecommunications operators so that the U.S. could "control the country's infrastructure," the Global Times alleged. The NSA was not immediately available for comment when contacted by CNBC. The hack has not been verified by CNBC. The Global Times, citing its unnamed source, reported that more details about the attack on...
    In this article TCOMFollow your favorite stocksCREATE FREE ACCOUNT BEIJING — Hotel reservations in China have surpassed pre-pandemic levels since late June, booking site Trip.com said Thursday. Trip.com shares briefly fell by more than 7% Thursday in Hong Kong trading, before recovering slightly to close 4.5% lower. New York-listed shares dropped 8.5% lower overnight, but were up 2.5% in extended trading. "Overall our domestic China hotel reservation on our platform quickly rebounded and [have] surpassed pre-Covid levels from late June," Cindy Xiaofan Wang, chief financial officer at Trip.com, said during an earnings call Thursday morning. "Total domestic hotel bookings was around 20% higher than 2019 level in July, and we continued to grow over the 2019 level in August and achieved hyper growth versus 2021," she said. That growth came despite continued sporadic lockdowns and travel restrictions across China to control Covid outbreaks. Tens of thousands of tourists were stranded in the resort area of Hainan province in August due to Covid control measures that canceled transportation off the island.watch nowVIDEO4:0904:09Qazi: There isn't a real case to be made...