A person shops at a Whole Foods Market grocery store on December 17, 2024 in New York City. Spencer Platt | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayU.S. government shutdown suspended The U.S. government narrowly avoided a shutdown after President Joe Biden signed a stopgap government funding bill on Saturday. President-elect Donald Trump and Elon Musk thwarted an initial, negotiated funding plan Wednesday by…
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A Nvidia chip during the Taipei Computex expo in Taipei, Taiwan, on May 29, 2023. Bloomberg | Bloomberg | Getty ImagesAsia-Pacific stocks had a good run in 2024, with most major markets ending the year in positive territory, as the region’s central banks eased monetary policy while an AI boom lifted tech stocks.Taiwan’s Taiex led gains in the region, up 28.85% as of Dec. 23, while Hong Kong’s Hang Seng Index came in second with 16.63%.Asia successfully reduced inflation faster than the rest of the world, said Mike Shiao, chief investment officer for Asia ex-Japan at investment management firm Invesco, paving…
China is looking to challenge the U.S. in artificial intelligence. China’s tech giants have launched their own AI models. Niphon | Istock | Getty ImagesThe Biden administration on Monday said it launched a new probe into legacy Chinese semiconductors that may go into everything from cars to household goods and defense systems.China “routinely engages in non-market policies and practices, as well as industrial targeting” of the chip industry, which allows Chinese firms “to significantly harm competition and create dangerous supply chain dependencies in foundational semiconductors,” the White House said in a statement.This is a breaking news story. Please check back for…
Bank of England in the City of London on 6th November 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. The City of London is widely referred to simply as the City is also colloquially known as the Square Mile. (photo by Mike Kemp/In Pictures via Getty Images)Mike Kemp | In Pictures | Getty ImagesBritain’s economy failed to achieve any growth in the three months to September, revised figures from the U.K.’s Office for National Statistics showed on Monday.A preliminary estimate…
Vehicles are offered for sale at a Nissan dealership on December 18, 2024 in Libertyville, Illinois. Scott Olson | Getty ImagesIn its most recent quarterly results, Nissan said it would cut 9,000 jobs and reduce global production capacity by a fifth.The automaker has “been struggling in the market, it’s been struggling at home, it doesn’t have the right product line-up,” Peter Wells, professor of business and sustainability at Cardiff Business School’s Centre for Automotive Industry Research, told CNBC’s “Street Signs Europe” last week.”There are so many warning signs, so many red flags around Nissan at the moment that something had to…
Motorcyclists pass a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia, February 3, 2016.Olivia Harris | ReutersScandal-hit Malaysian state fund 1Malaysia Development Berhad said Monday it has filed a legal claim of more than $1 billion against corporate services provider Amicorp Group and its CEO, alleging the firm knowingly facilitated over $7 billion in fraudulent transactions.The claim was filed in the British Virgin Islands against eight Amicorp entities and its Chief Executive Officer Toine Knipping, alleging that they played a vital role in enabling the sovereign wealth fund to be defrauded between 2009 and…
Ursula von der Leyen, president of the European Commission, during a news conference at the Mercosur Leaders Summit in Montevideo, Uruguay, on Friday, Dec. 6, 2024.Bloomberg | Bloomberg | Getty ImagesThe European Union’s blockbuster trade deal with South America’s Mercosur bloc is widely regarded as highly controversial, with EU member states split over its terms and many wary of yet another farmer flashpoint.After 25 years of talks, the EU and five South American countries — Brazil, Argentina, Uruguay, Paraguay and, newly, Bolivia — signed a landmark trade agreement on Dec. 6, setting the stage for one of the world’s biggest…
“The Threshold of Reverie,” a work produced by Botto.BottoGenerative artificial intelligence is making huge waves across industries and services from finance to human resources and spending on the technology is growing fast.And the art world is no different — some artists are using it to help generate work, and others are shocked by its capabilities.Now, a new AI “artist” is making a splash, bringing up central questions around the nature of art, its creation and ownership.Botto, described as a “decentralized autonomous artist” on its website, has produced around 150 images, or “works,” which together have fetched more than $5 million…
Sands China CEO and President Grant Chum said Macao was diversifying its economy away from gaming to become “a city of sports and … a city of entertainment,” during Chinese President Xi Jinping’s visit to the city that concluded Friday. In an interview on “Squawk Box Asia,” Chum cited a deal announced in early December between Sands China and North America’s National Basketball Association to play two NBA pre-season games in China.”We’ll be bringing the NBA China games back to China, but this time in Macao,” Chum told CNBC’s Emily Tan. “We don’t want just to do a one-off event.…
The Singapore Post sign at a post office in Singapore November 2, 2015.Thomas White | ReutersSingapore Post said on Sunday it had dismissed its chief executive and two other senior managers after an internal investigation found they had mishandled whistleblower allegations about misconduct by company employees.The firm’s shares slumped by the most in over four years as the city-state’s bourse opened for trading. The stock plunged as much as 9.8%, its biggest intraday loss since March 2020.The alleged misconduct reported by the whistleblower related to several employees who worked in the company’s international e-commerce logistics parcels business, the company said in a…
