A China Resources property under construction in Nanjing, Jiangsu province, China, Sept 24, 2024. Cfoto | Future Publishing | Getty ImagesBEIJING — China’s slowing economy needs more than interest rate cuts to boost growth, analysts said.The People’s Bank of China on Tuesday surprised markets by announcing plans to cut a number of rates, including that of existing mortgages. Mainland Chinese stocks jumped on the news.The move may mark “the beginning of the end of China’s longest deflationary streak since 1999,” Larry Hu, chief China economist at Macquarie, said in a note. The country has been struggling with weak domestic demand.”The most…
Author: usaeverydaylife
Traders work on the floor of the New York Stock Exchange during morning trading on September 23, 2024 in New York City.Michael M. Santiago | Getty ImagesStock futures were calm on Tuesday evening as Wall Street looks to extend its September gains.S&P 500 futures were little changed. Nasdaq 100 futures ticked up less than 0.1%, and futures tied to the Dow Jones Industrial Average dipped 0.1%.The moves come after the S&P 500 and Dow closed at record highs after gaining 0.25% and 0.20%, respectively. The Nasdaq Composite gained 0.56% and is less than 4% from its record high.All three averages…
A couple, who argued with a passenger who reclined her seat, won’t be flying with Cathay Pacific ever again.The Hong Kong-based airline banned the pair after video footage emerged showing the couple taunting, using vulgar hand gestures, and jostling the chair of a female passenger who reclined her seat on a 14-hour flight from Hong Kong to London, according to local media.Cathay Pacific has not responded to CNBC’s request for comment, but posted a statement on the social media platform Xiaohongshu, often described as China’s Instagram, Saturday saying it “sincerely” apologizes for the incident.”We maintain a zero-tolerance policy towards any…
By Tim Britton, Chad Jennings and Kaitlyn McGrathEvery week, we ask a selected group of our baseball writers — local and national — to rank the teams from first to worst. Here are the collective results.Well then, we’ve made it — through 25 weeks of power rankings, through ups and downs and surprises and collapses and turnarounds — to arrive at this last, very relevant week of the Major League Baseball season. At the start of the month, we wondered whether the postseason races were pretty much decided. Now, we enter the final week with several slots still undecided.The National League…
The Chinese yuan has weakened sharply against the U.S. dollar in the last several weeks as the greenback strengthens and investors worry about China’s economic growth.Fotoholica Press | Lightrocket | Getty ImagesChina’s yuan briefly rose to its strongest level in over a year on Wednesday after Beijing unveiled a slate of stimulus measures to shore up the slowing economy yesterday.The Chinese offshore yuan strengthened briefly to 6.9946 per dollar, the strongest since May 2023. China’s onshore yuan is currently trading at 7.0319 against the greenback, also holding at the strongest levels since last May.”We think the weak growth and low…
The Paramount Global headquarters in New York, US, on Tuesday, Aug. 27, 2024. Yuki Iwamura | Bloomberg | Getty ImagesParamount Global has begun the second phase of its planned layoffs in the United States as the media giant pushes toward increasing profitability, according to an internal memo seen by Reuters.The cuts are part of the company’s efforts to reduce annual costs by $500 million as it looks to streamline its operations ahead of its merger with Skydance Media.Paramount began cutting jobs in August, and plans to lay off 15% of its U.S.-based workforce in three phases by the end of the year. About 90% of the…
The NFL has evolved to a point where a record 15 Black starting quarterbacks started Week 1 of the 2024 season.That’s a far cry from when Warren Moon chose to sign with the CFL’s Edmonton Eskimos after a standout college career at Washington because he felt he wouldn’t get a fair opportunity to run an offense in the NFL. Similarly, Tony Dungy’s college days as a quarterback at Minnesota were for naught — as were others — as the NFL converted him into a defensive back.It took until 2001 for the NFL to have its first Black quarterback selected No. 1 in…
A General view showing the Hong Kong Skyline in Hong Kong, Saturday, May 22, 2021. (Photo by Vernon Yuen/NurPhoto via Getty Images)Nurphoto | Nurphoto | Getty ImagesAsia-Pacific markets open higher on Wednesday, while futures for Hong Kong’s Hang Seng Index suggested a 4% rise for the index when trading starts.HSI futures were at 19,763, compared to the index’s last close of 19,000.Chinese markets rallied yesterday after the country’s central bank announced a slate of economic support measures, with the HSI seeing its best day in seven months, while mainland China’s CSI 300 recorded its largest one-day gain in over four…
A trader works on the trading floor at The New York Stock Exchange (NYSE) following the Federal Reserve rate announcement, in New York City, U.S., September 18, 2024. Andrew Kelly | ReutersStocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox.Here’s what CNBC TV’s producers were watching as the Dow and S&P 500 posted fresh records Tuesday, and what’s on the radar for the next session.The staplesCNBC TV’s Dominic Chu reports on consumer staples in Wednesday’s edition of “Sectornomics.”Consumer staples…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailFast MoneyJared Holz, Mizuho, joins ‘Fast Money’ to talk Novo Nordisk CEO defending GLP-1 pricing and the push to lower prices.04:586 minutes ago Source link
