In this image from video provided by NASA, the unmanned Boeing Starliner capsule undocks as it pulls away from the International Space Station on Friday, Sept. 6, 2024. NASA | Via AP Boeing’s Starliner undocked from the International Space Station on Friday, months later than the spacecraft was originally supposed to depart — and without the two astronauts that it delivered to orbit in early June. Instead, NASA test pilots Butch Wilmore and Suni Williams will stay at the ISS for the rest of the year and will return to Earth in February aboard SpaceX’s Dragon spacecraft. It left the...
Netherlands expands export curbs on advanced chip tools
An icon of ASML is displayed on a smartphone, with an ASML chip visible in the background. Nurphoto | Nurphoto | Getty Images The Dutch government on Friday announced it is expanding export restrictions on advanced semiconductor manufacturing equipment, bringing more of ASML’s machines under curbs. More types of chipmaking tools are now subject to requirements that mean companies will have to apply for a license from the Dutch government to export their gear out of the country. ”I’ve made this decision for reasons of security. We see that technological advances have given rise to increased security risks associated with...
London landlords sell up properties ahead of anticipated Labour clampdown
Close-up and side view of classic Georgian buildings in London, England, UK. Colors Hunter – Chasseur De Couleurs | Moment | Getty Images LONDON — London landlords are selling up their buy-to-let properties at record rates as anticipated tax hikes from the U.K. Labour government add further pressure to the once lucrative investment sector. Almost one-third (29%) of homes currently for sale in the capital were previously rented out, data published on Thursday by property portal Rightmove showed. The spike mirrors a wider uptick in rental property sales across the U.K., where 18% of all nationwide listings were previously tenanted, according...
Nvidia sell-off, weak U.S. data, Australia GDP
Employees work at the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Thursday, Jan. 4, 2024. Bloomberg | Bloomberg | Getty Images Asia-Pacific markets plunged on Wednesday, led by Nikkei 225 and Taiwan’s Taiex after U.S. tech stocks sold off and weak U.S. economic data sparked recession fears. Japan’s Nikkei 225 fell 4.24% to close at 37,047.61, while the broad-based Topix dropped 3.65% to 2,633.49. Both indexes saw their worst one-day loss since the Aug. 5 sell-off. Semiconductor related stocks Renesas Electronics plunged 8.50%, Tokyo Electron lost 8.55%, while Advantest tumbled 7.74%. Softbank...
Chinese consumer brands look to crack the global market with Singapore as a testbed
Hangzhou-based toy company Dodo Sugar, pictured here at the Pop Toy Show in Singapore on Aug. 23, 2024, is expanding to Thailand and other parts of Southeast Asia. CNBC | Sonia Heng Chinese consumer brands are using Singapore as a cultural testbed in their quest to expand globally, thanks to the city-state’s unique blend of Asian and Western cultures. In August alone, Chinese tea brand Chagee opened three stores in Singapore. Pop Mart, a Beijing-based retailer of collectible toys, wrapped up its second annual toy show on the island late last month with over 50 artists. While Chinese companies have...
China PMI, South Korea CPI, HK real estate
Workers assemble mini excavators in a factory of heavy machinery in Suzhou in east China’s Jiangsu province on Oct. 23, 2023. Future Publishing | Future Publishing | Getty Images Asia-Pacific markets were mixed on Monday, with some major markets reversing losses as investors assessed China’s business activity numbers released over the weekend, while awaiting a slew of data due later this week. China released its official purchasing managers’ index data for August. The manufacturing PMI fell to a six-month low of 49.1, a faster contraction compared to the 49.4 seen in July. The figure also missed the median forecast of...
China stock market turnaround hinges on stimulus: KraneShares CIO
China’s slow post-Covid recovery could be a lasting headwind for its stock market. With the mainland’s two largest indexes — the Shanghai Composite and the Shenzhen Composite — each negative so far in 2024, KraneShares Chief Investment Officer Brendan Ahern thinks government stimulus is necessary to kick-start the country’s stock market performance. ”Investors, particularly in mainland China … [are] looking for much, much stronger fiscal support from the government,” he told CNBC’s ”ETF Edge” this week. ”Thus far, we’ve been left waiting.” Ahern, whose firm runs the KraneShares CSI China Internet ETF (KWEB), added that Chinese households are still reluctant...
Amazon checkout process hits technical snag during Labor Day sale
A worker prepares packages at an Amazon same-day delivery fulfillment center on Prime Day in the Bronx borough of New York, US, on Tuesday, July 16, 2024. Amazon.com Inc.’s Prime Day sales rose about 13% in the first six hours of the event compared with the same period last year, according to Momentum Commerce, which manages 50 brands in a variety of product categories. Photographer: Stephanie Keith/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images Amazon’s checkout function encountered technical issues on Friday, keeping customers from completing purchases. The e-commerce site displayed error messages with photos of dogs during...
China’s Zeekr to launch first electric SUV, priced to undercut Tesla’s Model Y
Geely-backed Zeekr is releasing an electric SUV in direct competition with Tesla’s Model Y. Zeekr Electric vehicle company Zeekr announced Friday that it would launch its first SUV in China next month, undercutting Tesla’s Model Y pricing in the country by over $1,400. The Zeekr 7X, priced at 239,900 yuan ($33, 829), is the Chinese EV maker’s first midsize electric SUV and will be launched on Sept. 20. It’s the latest Chinese EV to take on Tesla’s Model Y, which has also been challenged by Xpeng and Nio. Zeekr plans to deliver the 7X globally by the end of this...
Joe Biden and Xi Jinping to speak after rare U.S. security advisor trip to China
China’s Foreign Minister Wang Yi (R) shakes hands with US National Security Advisor Jake Sullivan at Yanqi Lake in Beijing on August 27, 2024. Ng Han Guan | Afp | Getty Images BEIJING — U.S. President Joe Biden and Chinese President Xi Jinping are set to speak over the phone in ”coming weeks,” the White House said Wednesday. The announcement came amid U.S. national security advisor Jake Sullivan’s trip to Beijing this week to meet with Wang Yi, China’s top diplomat. Both sides said their military leaders would also hold a call in the near future. Chin added that plans...