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2023年3月15日小编

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Chinese brands enter Olympics marketing ring, vying for gold on global stage

Chinese companies, most of which lag behind their global peers in brand awareness, are seizing a chance for larger recognition at this year’s Olympic Games.

Sales of $100 million homes set to double this year as trophy properties recover

The comeback marks a stark contrast with the national housing market, which is still feeling the pressure of high mortgage rates and lack of supply.

Summer holiday getaway: How to beat the queues

Tips to make travelling as smooth as possible, whether you’re going by road, plane, train or ferry.

NASA Moves Toward Boeing Starliner Return to Restore Space Station Traffic

With the Falcon 9 rocket set to fly again, and testing of the Starliner capsule progressing, the agency is seeking to turn the page on a brief, troubled chapter in orbit.

Warner Bros. Discovery Sues N.B.A. Over TV Rights Deal

The company is trying to make the league accept its match of Amazon’s bid to broadcast games starting with the 2025-26 season.

Warner Bros. Discovery sues NBA to secure media rights awarded to Amazon

Warner Bros. Discovery has sued the NBA in an effort to keep distributing the league's games, after it chose NBCUniversal and Amazon as new media partners.

John Lewis allowed to build homes for first time

The department store is pushing to build rental flats as it looks for new ways to bring in money.

With Long Hours and a No-Fail Mission, the Secret Service Tries to Make Do

The agency charged with protecting presidents and foreign leaders has its largest ever budget, but employees say it is still unable to recruit and retain enough people to carry the load.

FAA approves SpaceX to resume Falcon 9 rocket launches after two-week hiatus

The FAA approved SpaceX to resume flights of its mainstay Falcon 9 rocket after being grounded about two weeks ago following a rare inflight failure.

WNBA hopes to cash in on rising popularity with media rights reevaluation after 2028 season

The WNBA and its media partners have agreed to reevaluate the cost of rights after the 2028 season given the league's rising popularity.

Andrew Left, Prominent Short Seller, Accused of Fraud in Multiyear Scheme

Federal authorities filed charges against Andrew Left, founder of Citron Research, who they said made at least $16 million from a multiyear scheme to manipulate market prices.

As Trump Looms, Blinken Aims to Reassure Allies on U.S. Commitment to Asia

Asian officials will press Secretary of State Antony J. Blinken about the former president and about Kamala Harris as he visits the region.

'Deadpool & Wolverine' snares $38.5 million in Thursday previews, on pace for record opening

Disney and Marvel's "Deadpool & Wolverine" snared $38.5 million in Thursday previews.

45%

Tesla’s drop in profit in the second quarter.

Bristol Myers Squibb beats earnings estimates, raises outlook as drugmaker slashes costs

The results come as Bristol Myers moves to cut $1.5 billion in costs by 2025 and reinvest that money into key drug brands and research and development programs.

China Is Closing the A.I. Gap With the United States

In recent weeks, Chinese tech companies have unveiled technologies that rival American systems — and they are already in the hands of consumers and software developers.

With Kamala Harris, U.S. Free Trade Skepticism May Continue

The vice president has been critical of past trade deals. But her record suggests she could push for trade measures that address environmental issues.

Chipotle Will Retrain Stores Reportedly Skimping on Portions

“There was never a directive to provide less to our customers,” the chief executive said. Still, he said the company would review practices across all its stores.

Paris Olympics is the latest test of whether sports can win subscribers for NBC's Peacock

NBCUniversal is betting the Paris Olympics will drive viewership across its TV platforms and drive more subscribers to its streaming service, Peacock.

Fed’s Preferred Inflation Measure Cooled Overall in June

The Personal Consumption Expenditures Index climbed 2.5 percent, still more than the Fed’s 2 percent target, as price increases take time to come down.

Chase to Bar Customers From Using Credit Cards for ‘Pay Later’ Loans

Financial regulators and consumer advocates frown upon using credit cards to pay off installment loans because of the risk that consumers will dig themselves further into debt.

Warner Bros. Discovery is counting on deregulation to unlock media deals — if there's even appetite

In the last five years, every large media merger has led to tens of billions in lost value for shareholders.

LVMH CEO Bernard Arnault says Olympics sponsorship honors the spirit of France

The LVMH sponsorship is on display throughout the 2024 Paris Olympic Games, which officially kicks off on Friday.

How China’s move to cap salaries is redefining finance’s role in society

The measure shows the central government sees finance as a support mechanism for the real economy, not a stand-alone profit centre.

Child Care Costs Challenge Women’s Gains in Work Force

Participation in the labor force has surged among women in their prime working years. But for those with children under 5, the gains may have peaked.

Intern’s leaked video clip exposes chaotic management at leading Chinese brokerage

‘The content of the clip leaked sensitive information about our customers and violated the company’s compliance rules,’ China Securities said.

The Stakes Behind the Fight Over Lina Khan’s Future at the F.T.C.

A debate over whether the F.T.C. chair should stay reflects broader anxiety over how Kamala Harris would regulate business.

Drivers 'ripped off' by fuel prices, warns watchdog

The Competition and Markets Authority says poor competition cost British motorists £1.6bn last year.

Southwest to get rid of open seating, offer extra legroom in biggest shift in its history

Southwest is under pressure to drum up revenue from an oversupplied U.S. market and an activist investor.

Shanghai’s retail sales sink, revealing weak link in China’s consumption

As China attempts to boost domestic consumption, financial hub Shanghai has reported a notable decline in retail sales for June, showing some weaknesses have persisted.

China’s crippling debt levels seen worsening as government measures focus on ‘buying time’

After years of rapid debt growth from local government financing vehicles, some of China’s struggling regions are finding it difficult to reverse course.

Reeves set to reveal public finance shortfall of billions

The chancellor will unveil a public spending hole on Monday, which speculation suggests could hit £20bn.

Airbus boss admits long delays in making aircraft

The plane maker has sold dozens of new jets at the Farnborough airshow, but is struggling to keep up with demand.

From Online Drug Lord to Crypto Entrepreneur, Blake Benthall Is Back in Business

After Blake Benthall was arrested for running Silk Road 2.0, the infamous illegal drug bazaar, things didn’t go the way you might expect.

Let the Pros Play With the ‘Trump (or Harris) Trade’

Market sectors sometimes move when the political winds shift, but trading is hazardous for your financial health, our columnist says.

China’s economic powerhouse seeks AI, humanoid robotics, low-altitude economy upgrade

Shanghai will look to attract AI companies, build a humanoid robot manufacturing innovation centre and test low-altitude industrial logistics by 2027.

Lewis H. Lapham, Harper’s Editor and Piercing Columnist, Dies at 89

Born into a patrician family, he used Harper’s and later his own Lapham’s Quarterly to denounce what he saw as the hypocrisies and injustices of a spoiled United States.

Actors go on strike over video games AI threat

The union has been in talks with big games studios, like Activision and Walt Disney, for 18 months.

China’s Guangdong, once a major economic driver, lags national growth average

Traditionally a major regional economic growth engine for China, Guangdong province is now lagging behind the national average – and will likely need to make adjustments to retain its status.

The Murdoch Family Is Battling Over the Future of the Fox Empire

Rupert Murdoch, the patriarch, has moved to change the family’s irrevocable trust to preserve his media businesses as a conservative force. Several of his children are fighting back.

China Rules Solar Energy, but Its Industry at Home Is in Trouble

The solar sector shows how China conducts industrial policy: It chooses industries to dominate, floods them with loans and lets companies fight it out.

Actors’ Union to Go on Strike Against Video Game Companies

The SAG-AFTRA union wants higher pay for the use of voices and images and protection from losing jobs to artificial intelligence.

GM reveals new Chevy Corvette with 1,000-plus horsepower and record top speed

The ZR1 joins what GM is calling the "Corvette family," leveraging the reputation of the quintessential American sports car to boost revenue and sales.

What's behind the global self-storage boom?

Rising rents, e-commerce and available property are contributing to a boom in self-storage.

2024 Election Intensifies Online Conspiracy Theories and Misinformation

Users on X, Truth Social, Rumble and Gab have benefited from a series of major events to spread baseless falsehoods as their followers and engagement skyrocket.

At Paris Olympics, Chinese manufacturers won big before the Games even started

The 2024 Summer Games may be French, but much of the equipment and related accoutrements were made in China, owing to a lack of ‘comparable competitors’ in global manufacturing.

WNBA’s Popularity Booms but Money for Players Hasn’t Kept Pace

Fans and brands have embraced the league, but rules have kept its growing financial success from fully trickling down to the players.

How US Chips Continue to End Up in Russian Missiles

Defying sanctions, Russia has obtained nearly $4 billion in restricted chips since the war began in Ukraine. Many were shipped through a cluster of shell companies in Hong Kong.

Boeing's crewed Starliner flight won't return until at least August, NASA says

Starliner capsule "Calypso" has now been in space 50 days and counting on a mission that has extended well beyond what NASA projected.

U.S. Economy Grew Faster Than Expected in Second Quarter, at 2.8% Rate

Gross domestic product rose at a 2.8 percent annual rate in the second quarter, new evidence of the economy’s resilience despite high interest rates.

ChatGPT reveals search feature in Google challenge

OpenAI is working on adding new search powers to its artificial intelligence (AI) bot.

Sainsbury's sorry for 'racist slur' trouser detail

Customers pointed out that the listing used a phrase deployed by racists to avoid language filters.

Ford shares post worst day since 2008, leading autos rout after company's disappointing earnings

Ford closed Thursday at $11.16, down by 18.4% — marking the stock's worst daily decline since 2008 and the second-worst performer of S&P 500 companies.

Southwest profit falls 46% as airline takes 'urgent' steps to increase revenue

Southwest is under pressure from an activist investor after it lagged competitors.

Viking Therapeutics stock jumps nearly 30% after drugmaker moves weight loss injection to late-stage trial

It brings the drugmaker one step closer to joining the market for GLP-1s, which analysts say could grow into a $150 billion market by the end of the decade.

Microsoft’s World of Warcraft Workers Vote to Unionize

The move adds more than 500 to the unionized video game staff at Microsoft, which has pledged to remain neutral on organizing efforts.

'Deadpool & Wolverine' set for highest opening of an R-rated film

Disney and Marvel's "Deadpool & Wolverine" is expected to shatter box office records and become the highest opening film with an R-rating.

Southwest Airlines Will End Its Longstanding Open-Seating Policy

The airline said it was scrapping its trademark, 50-year tradition of offering open seating, where passengers choose seats once they have boarded the plane.

Ex-minister brands Post Office cases 'corrupt'

Management culture was "insensitive and dismissive to the point of abject rudeness", Greg Clark says.

Hasbro beats second-quarter estimates, goes 'all in' on digital gaming segment

Though Hasbro's revenue declined 18% overall during the quarter, Wizards of the Coast and the digital gaming segment grew 20%.

What Rupert Murdoch Owns, and How He Built His Media Empire

Over seven decades, the Australian-born magnate assembled an array of news outlets, book publishers, and film and television properties into a global behemoth.

American issues weak profit forecast after backfired sales plan, industry oversupply

The carrier's profit fell 46% during the second quarter even though revenues rose.

Keurig Dr Pepper earnings meet estimates as higher prices fuel U.S. soda sales

Keurig Dr Pepper's second-quarter earnings and revenue met Wall Street's expectations.

N.B.A. Announces Lucrative Rights Deals With Disney, Comcast and Amazon

The league rejected a bid by Warner Bros. Discovery to match Amazon’s offer.

US economy picks up amid heated presidential campaign

Despite steady growth, the economy is a top concern for voters in the US presidential election.

2025 Could Be a Great Time to Be President, Economically Speaking

Trends already underway make for a sunny outlook over the next few years. The question is who will get to take credit.

Before Paris, London Showed How the Olympics Could Be Sustainable

Paris aims to be the most sustainable Olympic Games in history, but it was London over a decade ago that proved host cities didn’t have to end up with empty stadiums in disrepair long after the Games were over.

New Foxconn deal shows how Chinese provinces are stepping up to entice overseas firms

Foxconn will splash out on EV projects and set up robotics industrial bases in mainland China amid geopolitical risks and supply-chain disruptions.

China doubles cash subsidies to propel EV sales as economic growth falls short

Consumers who replace their conventional cars with an EV stand to receive a subsidy of 20,000 yuan (US$2,770), up from 10,000 yuan announced in April.

Rupert Murdoch’s Game of Thrones

The battle between the media mogul and three of his children over control of his empire has big ramifications for politics, media and more.

No new coins ordered by the Treasury this year

The Treasury has denied that coppers will be scrapped completely but none will be minted in 2024.

UK secures seabed land deal to boost windfarms

GB Energy to partner with the Crown Estate to push forward offshore windfarm projects

Ford shares tumble 13% after massive earnings miss

The automaker increased its target for free cash flow but maintained its 2024 earnings guidance, disappointing some investors who had hoped for a hike.

CrowdStrike backlash over $10 apology voucher

Cybersecurity firm is branded a "clown show" for gesture after an update caused widespread disruption.

China Unexpectedly Cuts Interest Rate as World Markets Sag

The central bank lowered a key rate in its latest effort to steady China’s economy, as Asian stock markets followed Wall Street down.

Stock Market Rotation Leads to Small Cap Rally

Shifting views on the economy have led to a “rotation” in the stock market. Small stocks and companies geared toward the economic cycle are rising. Big Tech is lagging.

China’s uneven recovery risks more US protectionism, with or without Trump

China’s trade surplus and deflationary policies propping up its push for hi-tech manufacturing mean a sharp US response is likely, whoever wins the November election.

Boeing not yet facing clear skies in China even as deliveries resume, executive visits

Boeing Global president Brendan Nelson concluded a visit to Beijing on Tuesday, while deliveries of the troubled 737 Max jet to China also resumed this week.

China aims to step up Russian energy cooperation despite US sanctions calls

Vice-Premier Ding Xuexiang made the comments at the Sixth China-Russia Energy Business Forum in Moscow on Tuesday.

Ukraine Presses China to Help Seek End to War With Russia

A visit by the foreign minister of Ukraine to Guangzhou this week signals Kyiv’s desire to involve Beijing in peace talks that China has thus far largely snubbed.

Panda bond sales hit record as cheap credit lures global issuers

Sales of panda bonds jumped to a record US$17 billion this year, beating the previous record for a comparable period of US$11.8 billion of sales established in 2023.

Trump’s Lawsuit Against ABC and Stephanopoulos Can Move Forward

The litigation stems from a March 10 interview in which George Stephanopoulos, the network’s star anchor, referred to a civil case brought against Mr. Trump by E. Jean Carroll.

Rate cuts, state funds for China’s trade-in scheme as Beijing moves ‘on a path to easing’

China cuts one-year medium-term lending facility and allocates 300 billion yuan (US$41.3 billion) in ultra-long-term treasury bonds on Thursday.

On Economic Policy, Harris Has Played Limited Role

President Biden has not given his vice president an expansive economic portfolio. But she has engaged on issues of small-business lending, help for parents and more.

China’s economic powerhouses, tasked with lion’s share of GDP growth, vow deeper reforms

Measures being rolled out by local authorities across China could offer a glimpse at national policies expected at the midyear Politburo meeting.

NBA says Amazon will be its new media partner, rebuffing Warner Bros. Discovery attempt to match deal

NBA informs Warner Bros. Discovery it intends to ignore its matching rights and move forward with Amazon as a partner

Would-be reality TV contestants 'not looking real'

A growing use of AI is said to be both harming and helping makers of reality TV.

Kamala Harris Works to Build Bridges to the Business World

The vice president has sought to raise her profile among executives, to whom she has been something of an enigma.

Can China’s Politburo ‘break the deadlock’ on economic growth as half-year comes in focus?

Compared with China’s just concluded third plenum, a Politburo meeting in the coming days is expected to more directly impact market expectations.

Chipotle earnings and revenue top estimates, restaurant traffic rises again

Shares of Chipotle have risen 24% this year, bringing its market value up to $72.82 billion.

Halting the Bird Flu Outbreak in Cows May Require Thinking Beyond Milk

A new study paints a complex picture of the outbreak, suggesting that the virus could be spreading in multiple ways and that it is not always mild in cows.

S&P 500 Suffers Biggest Drop Since 2022 as Tech Stocks Crater

The index fell 2.3 percent after disappointing earnings reports from Alphabet and Tesla. The Nasdaq composite fell 3.6 percent.

Pfizer's gene therapy for rare genetic bleeding disorder succeeds in late-stage trial

The hemophilia A treatment could become the company's second gene therapy to enter the U.S. market after Beqvez, which was cleared in April for hemophilia B.

Kathy Willens, Photojournalist Seemingly Everywhere, Is Dead at 74

Guided by a keen sense of timing, she covered wars, sports, riots, politics and more for The A.P. in the ’70s, when few women worked as news photographers.

AMC warns of second-quarter earnings 'weakness,' with revenue and profit down

AMC's preliminary results revealed revenue down more than 23% during the period and a net loss, compared to a profit during the same period a year earlier.

Explosion at Jose Cuervo Tequila Factory in Mexico Kills 5

The explosion on Tuesday in the city of Tequila, near Guadalajara, killed six workers and left two others wounded, the authorities said.

Dancers Drop Threat to Strike During Paris Olympics Opening Ceremony

Organizers avoided disruption by agreeing to give performers on temporary contracts a greater cut of broadcast royalties.

'Inside Out 2' is now the highest-grossing animated movie of all time, surpassing 'Frozen II'

Disney and Pixar's 'Inside Out 2' is now the highest-grossing animated movie of all time, surpassing Walt Disney Animation's "Frozen II."

Can Kamala Harris Sell Bidenomics?

Much of President Biden’s agenda polls well, but voters roundly dislike his handling of the economy. That’s a campaign challenge for his vice president, as she mounts a presidential bid.

Chinese firms urged to brace for tech-for-market swap with inevitable overseas expansion

Chinese firms ambitious about going abroad urged to embrace ‘technology for market’ strategy that allowed China to obtain technologies since the 1980s.

Why Tesla Is Still Struggling

Sluggish car sales and a tough price war with rivals are weighing on Elon Musk’s electric vehicle company.

China’s nudges ‘high quality’ firms to seek overseas debt funding

China’s top economic planner has encouraged qualified firms to borrow medium- and long-term debt abroad amid a slowdown of US dollar fundraising.

Small Banks Say Their Commercial Real Estate Loans Are Fine

Community banks are big commercial real-estate lenders. But they say their loans are to sturdy local businesses, not those facing vacant office space.

Luxury brands in China take hit on low consumer confidence as economy slows

Asia sales of Louis Vuitton owner LVMH fell 13 per cent in the first half, while Chow Tai Fook’s plummeted 20 per cent in the second quarter.

Why Paper Checks Refuse to Die

It’s hard to avoid hassle — or fraud — when you’re required to pay with paper and ink. Here’s why checks persist and why some people don’t mind.

Beefed-Up Olympics Security Thins Out Tourists, Squeezing Merchants

French businesses had hoped the Games would bring an economic boom, but metal fences and police checkpoints have turned some areas of Paris into dead zones.

‘In China for China’: German firms buck trend, bring best tech and products to compete

With fewer options amid geopolitical strife and supply-chain disruptions, capitalising on China’s massive market requires a more inward-facing plan for foreign firms.

Tesla Q2 Earnings Report Reveals 45% Profit Drop Amid Weak E.V. Sales

The company led by Elon Musk is selling fewer electric cars, and its big bets on driverless taxis and artificial intelligence could take many years to pay off.

Delta Won’t Let Minors Fly Unaccompanied in Wake of Outage

Pete Buttigieg said on Tuesday that the U.S. Department of Transportation had opened an investigation into Delta’s ongoing response to Friday’s global tech outage.

Why Chinese consumption cannot completely be blamed for global imbalances

China’s actual household consumption is much higher when properly adjusted for social transfers, purchasing power and housing expenditure.

Judge Refuses to Block F.T.C.’s Noncompete Ban as Lawsuits Play Out

A federal judge in Pennsylvania denied a request to delay the rule, siding with the agency and diverging from another court’s decision this month.

Greater Bay Area home sales surged in June after property market rescue package

Demand for new homes in the Greater Bay Area rebounded last month after Beijing’s historic measures to rescue the property sector took effect. However, a meaningful recovery in prices will take time amid economic headwinds, says Cushman & Wakefield.

Blind Barbie Joins Mattel Lineup

A second new doll, a Black Barbie with Down syndrome, is part of the toymaker’s effort to be more inclusive.

Travelers Delayed or Stuck by the CrowdStrike Outage: What Did Your Airline Provide?

The flight disruptions brought on by the global I.T. failure were deemed within the control of the airlines, meaning airlines have to reimburse passengers for meals, transportation and hotels. Did your carrier live up to the requirement?

A Silicon Valley executive had $400,000 stolen by cybercriminals while buying a home. Here’s her warning

Real estate, with its large transaction sizes and frequent use of bank wires, has proven to be an especially lucrative target for cybercriminals.

Walter Shapiro, Political Columnist With a Contrarian Streak, Dies at 77

He brought to his writing a sharp sense of humor, honed in stand-up comedy clubs, and never pulled punches even though he was an unabashed Democrat.

The U.A.W. Is Holding Off on Endorsing Harris

Unlike other prominent unions, the auto workers are taking their time to ensure that the vice president is aligned with them on key policy questions.

Transportation Department to Investigate Delta After Flight Delays

Pete Buttigieg, the transportation secretary, made the announcement after the airline suspended travel for unaccompanied minors.

G.M. Will Restart Cruise Taxi Operations

General Motors said the self-driving division’s cars will run in Dallas, Houston and Phoenix after an accident last year. Human drivers will supervise the cars.

June home sales slump, pointing to a buyer's market as supply increases

The median price of an existing home sold in June was $426,900, an increase of 4.1% year over year

Coca-Cola tops earnings estimates, hikes full-year outlook as global demand rises

Coke beat earnings estimates and raised its outlook, as volume grew globally.

GM slows its EV plans again even as sales grow

GM is again slowing its plans for all-electric vehicles by further delaying a second electric U.S. truck plant and the Buick brand's first EV.

Lawmakers introduce bipartisan bill aiming to crack down on drug middlemen as scrutiny ramps up

The bill's introduction comes amid a hearing featuring testimony by UnitedHealth Group's Optum Rx, CVS Health's Caremark and Cigna's Express Scripts.

Shanghai to implement policies to boost Yangtze River Delta, galvanised by third plenum

Shanghai and neighbouring provinces of Zhejiang, Jiangsu and Anhui will fine-tune their business environment to spur activity in the YRD region, official says.

Global demand for Chinese e-commerce goods boosts low-value trade untouched by tariffs

Buying Chinese products online has become increasingly popular, and shopping platforms such as Temu and Shein are riding the e-commerce wave.

China’s timely tax reforms will help local governments deliver stability

With a shift away from disproportionately expecting state governments to power growth, the focus must now be on social welfare and stability.

Why Some Donors Are Holding Back on Endorsing Harris (for Now)

Fear of being seen as circumventing an open nomination process is one reason that some backers have not yet publicly endorsed the vice president.

China’s non-financial debt growth slows with firms and households unwilling to leverage up

Growth of outstanding debt within China’s non-financial sectors fell to the lowest level in more than two decades in the second quarter.

Finally, a Way Around Exorbitant Rental Car Surcharges for Tolls

Temporary toll passes, now free for those who rent cars at the Orlando airport in Florida, allow drivers to avoid charges for toll payment devices. Could this be a model for other destinations?

How foreign firms can stay on their feet in China’s dynamic market

The era of easy money is over. China’s market-friendly reforms come with rising costs, and greater political control and regulatory scrutiny.

China auto giant SAIC Motor decries EU’s ‘illegal’ anti-subsidy probe, hints at challenge

Brussels’ new tariffs on China’s EVs are grinding gears in its auto industry, and SAIC Motor is pushing back.

Artificial Intelligence Has a Math Problem

A.I.’s math problem reflects how much the new technology is a break with computing’s past.

China hopes US firms can ‘play a strong role’ after top executives visit Beijing

A delegation from the US-China Business Council met with Chinese Vice-Premier He Lifeng and Foreign Minister Wang Yi in Beijing on Monday.

China Wahaha heiress Kelly Zong Fuli back at the helm after ‘friendly negotiations’

Kelly Zong Fuli, heiress of once China’s largest soft drink producer, returns to the helm after resigning last week, following “friendly negotiations” with shareholders.

Google’s Plan to Buy Wiz for $23 Billion Falls Apart

Wiz’s chief executive said the company walked away from a “humbling offer” and would pursue an initial public offering instead.

What makes an athletics track fast?

The makers of athletics tracks are tweaking their surfaces to make them faster.

Is Vietnam losing its appeal for China’s manufacturers bypassing US tariffs?

Vietnam has long been a preferred destination for foreign-invested projects, but rising costs are pushing Chinese firms to consider their options.

China’s third plenum vows to support ‘capable’ private sector to lead tech innovation

Support for China’s private sector was discussed at the third plenum, which also vowed to make the state sector ‘stronger, better and bigger’.

China’s rural land reform could be a cash cow for farmers after bold move at third plenum

Looking to give China’s economy a jolt, Beijing’s third plenum featured long-awaited plans that could make rural resources more valuable and address the rural-urban income gap.

China’s housing may get extra help by July’s end as policymakers strive to reverse slump

Policymakers, concerned about weak domestic demand, may ‘step up easing rhetoric and measures’ at this month’s Politburo meeting, Goldman Sachs says.

Xiaomi founder Lei Jun said US sanction fears spurred smartphone maker’s EV push

Within two months of being temporarily placed on a US military blacklist, Xiaomi announced plans to enter China’s saturated electric vehicle market.

Promises abound of deepened reform, but what did China’s third plenum tell us?

In this week’s issue of the Global Impact newsletter, we look back at the conclusion of China’s third plenum.

China’s youth, anxious over job market, trust in science to secure their future

As China’s students face an uncertain job market – and the country pledges more resources to tech – they are opting to study science, helping to maintain an ‘engineering dividend’ as the population declines.

China’s third plenum holds out hope for debt-hit local governments with funding reform

China to aim for ‘clear division’ of central-local responsibilities and coordinated finances, full text of third plenum decisions shows.

China cuts key rates after third plenum to support economy, but ‘heavy lifting’ needed

People’s Bank of China lowered the seven-day reverse repo rate, as well as both the one-year and five-year loan prime rates, just days after the conclusion of the third plenum.

Why Nigerians are praying for the success of a new oil refinery

A vast new oil refinery in Nigeria is aiming to reduce the price of petrol in the country.

Here’s how China can fund its third plenum goal of high-quality development

Given China’s weakened financial position, it must embrace low-cost reforms that drive growth without adding to budget pressures.

Badminton mocked as becoming ‘rich people’s sport’ in China as shuttlecock prices surge

Demand for pork has increased in China, meaning less duck and goose is being sold, resulting in badminton shuttlecocks becoming more expensive.

China’s pet economy being driven by elderly, singles dreaming of having cats and dogs

China’s pet economy is expected to reach 811.4 billion yuan (US$112 billion) by 2025, remaining prosperous despite ongoing economic headwinds.

China’s fitness enthusiasts exercise caution as they look to make their yuan go a long way

In China’s wellness industry, which is expected to cross 100 billion yuan (US$13.8 billion) in 2026, only the fittest will survive.

Late to the game, Hong Kong’s big splash on tech must pay off

Forced now to diversify its economy, Hong Kong is moving forward on giving its industrial base the talent, land and funding that it needs.

‘Opening up is China’s greatest reform’: noted economist calls for new market standards

Sound rule of law and modern market economy will drive China’s continued economic prosperity rather than frequent policy shifts, forum hears.

Beijing seeks to drive up China’s much-needed consumption by upping NEV number plate quota

Beijing is set to issue 20,000 new energy passenger cars with number plates to be used by families from Sunday.

China’s humble consumers embrace down-to-earth lifestyle, rising ‘poor man’s meal’ trend

An ongoing trend of consumer spending cutbacks in China has intensified amid an economic downturn, drawing comparison with Japan’s ‘lost decade’.

China wants to engage with Europe. Are Brussels and London listening?

Amid deteriorating relations with European governments, Beijing must clarify its positions and help set up an equitable power balance.

China seeks ‘unified market’ to surmount regional barriers, boost consumption

China has called for a ‘unified national market’ to aid in the flow of goods and resources, arguing consistent rules across regions will help break down barriers to consumption and fuel economic growth.

How a single IT update caused global havoc

Friday's IT outage is a poignant reminder of how reliant the world has become on devices managed remotely by huge firms.

What will future aerial dogfights look like?

AI with dogfighting ability is being developed by the UK and US air forces.

Can we make work meetings more bearable?

The providers of video meetings software are now offering AI tools that help the participants.

How AI is fuelling uncertainty for game developers

In a struggling games industry AI has been hailed as a possible saviour. But not everyone's convinced.

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