China's Baby Benefits Are Tiny. That Isn't the Point
Beijing announced last week it will subsidize households to have children. Babies born after Jan. 1 this year will receive 3,600 yuan ($500) annually until age three. While not a large amount, it represents a further step away from rules imposed in the 1970s that constrained fertility. There's much to be said for starting small and scaling up. It's not hard to see the money being increased — and extended to all children.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
a few seconds ago
- CNBC
Asia markets set to open lower as investors weigh Trump's vow on fresh chip tariffs
Asia-Pacific markets are set to start the day lower, following U.S. President Donald Trump's vow to impose a 100% tariff on imports of semiconductors and chips to the U.S., but companies that are "building in the United States" will be exempted. Details such as how much a company needs to be manufacturing in the U.S. to qualify for the tariff exemption were not immediately clear. Good morning from Singapore. Investors will be keeping a close watch on chip stocks following U.S. President Donald Trump's vow to impose 100% tariffs on imported semiconductors and chips, unless they are made by companies "building in the United States." Japan's benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 40,785 while its counterpart in Osaka last traded at 40,790, against the index's last close of 40,794.86. Futures for Hong Kong's Hang Seng index stood at 24,903, pointing to a weaker open compared with the HSI's Wednesday close of 24,910.63. Australia's S&P/ASX 200 was set to start the day lower with futures tied to the benchmark at 8,779, compared with its last close of 8,843.70. — Amala Balakrishner President Donald Trump said late Wednesday that he would slap a 100% duty on imports of semiconductors and chips – with an exception for companies that are "building in the United States." "We're going to be putting a very large tariff on chips and semiconductors," he said, speaking in the Oval Office on Wednesday afternoon. "But the good news for companies like Apple is if you're building in the United States or have committed to build, without question, committed to build in the United States, there will be no charge," Trump added. Shares of Apple advanced 3% in extended trading, fresh off a 5% gain in the regular session. Stock chart icon Apple shares in the past day – Kevin Breuninger, Darla Mercado All the three major averages finished with gains on Wednesday. The S&P 500 advanced 0.73% to finish at 6,345.06, while the Nasdaq Composite jumped 1.21%, closing at 21,169.42. The Dow Jones Industrial Average also rose 81.38 points, or 0.18%, to end the day at 44,193.12. — Sean Conlon
Yahoo
28 minutes ago
- Yahoo
SoftBank's AI investment spree to be in focus on at Q1 earnings
By Anton Bridge TOKYO (Reuters) -When Japan's SoftBank Group reports earnings on Thursday, its mammoth investments in artificial intelligence companies are set to take the spotlight. Analysts and investors are keen for updates on how they will be financed, the timeline for returns to materialise and whether assets will be sold to fund the new projects. SoftBank has embarked on its biggest spending spree since the launch of its Vision Funds in 2017 and 2019. It is leading a $40 billion funding round for ChatGPT maker OpenAI. SoftBank has until the end of the year to fund its $22.5 billion portion, although the remainder has been subscribed, according to a source familiar with the matter. It is also leading the financing for the Stargate project - a $500 billion scheme to develop data centres in the United States, part of its effort to position itself as the "organiser of the industry," founder Masayoshi Son said in June. SoftBank has yet to release details on what kinds of returns its financing of the Stargate project could generate. The extent of third-party investment will determine what other financing tools, such as bank loans and debt issuance, it may have to deploy. In July, SoftBank raised $4.8 billion by selling off a portion of its holding in T-Mobile. "If other sources of capital are less supportive, SoftBank could look to asset-backed finance, which is collateralised by equity in other holdings," Macquarie analyst Paul Golding said. The Japanese conglomerate is expected to post a net profit of 127.6 billion yen ($865 million) in the April-June quarter, according to the average estimate of three analysts polled by LSEG. That would mark SoftBank's second consecutive quarter of profit and follow its first annual profit in four years when it was helped by a strong performance by its telecom holdings and higher valuations for its later-stage startups. Its results are, however, typically very volatile and difficult to estimate due to manifold investments, many of which are not listed. SoftBank's performance in exiting from investments and distributing profits has been patchy of late. The Vision Funds had made a cumulative investment loss of $475 million as of end-March. That said, 13 of 18 analysts have a "buy" or "strong buy" rating for SoftBank's stock, according to LSEG. Although there is some concern in the market that AI-related valuations have become bubbly, they continue to climb. OpenAI is in early-stage discussions about a stock sale that would allow employees to cash out and could value the company at about $500 billion, according to the source - a huge jump from its current valuation of $300 billion. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
28 minutes ago
- Associated Press
Afghanistan's Taliban have 'weaponized' the judicial system to oppress women, UN expert says
UNITED NATIONS (AP) — Afghanistan's Taliban rulers have 'weaponized' the legal and judicial system to oppress women and girls in what amounts to 'crimes against humanity,' the independent U.N. investigator on human rights in the country said. Richard Bennett said in a report to the U.N. General Assembly circulated Wednesday that after seizing power in 2021 the Taliban suspended the 2004 constitution and laws protecting the rights of women and girls. These include a landmark law that criminalized 22 forms of violence against women, including rape and child and forced marriage. The Taliban dismissed all judges under the previous U.S.-backed government, including approximately 270 women, replacing them with men who share their extreme Islamic views, lack legal training and hand down decisions based on edicts issued by the Taliban, he said. In addition, he noted that the Taliban have assumed full control over law enforcement and investigative agencies, systematically purging Afghans who worked for the previous government. Bennett, who was appointed by the Geneva-based U.N. Human Rights Council, focused on access to justice and protection for women and girls in his report. He said he held meetings, focus-group discussions and one-on-one interviews with more that 110 Afghans inside and outside the country. He did so remotely because the Taliban have refused to grant him a visa to travel to Afghanistan. Since the Taliban took control of Afghanistan, their crackdown on women and girls has been widely reported and globally denounced. Taliban leaders have barred education for women and girls beyond sixth grade, banned most employment, and prohibited women from many public spaces, including parks, gyms and hairdressers. New laws ban women's voices and bare faces outside the home. The Taliban remain isolated from the West because of their restrictions on women and girls and have only been recognized by Russia. Bennett said the Taliban did not respond to an advance copy of the report and a request for information about their efforts to ensure access to justice and protection for women and girls. The Taliban defend their approach to justice by claiming they are implementing Islamic sharia law, but Islamic scholars and others have said their interpretation is unparalleled in other Muslim-majority countries and does not adhere to Islamic teachings. They say protecting the legal rights of women is a priority. Bennett said, however, that women have virtually no rights. 'Today, there are no women judges or prosecutors and no officially registered female lawyers, leaving women and girls with fewer safe channels to report abuse or seek redress,' he wrote. 'Coupled with a lack of female officials in the police and other institutions, the result is widespread underreporting of violence and discrimination against women and girls.' Bennett said access to justice for girls 'is further undermined by the dismantling of key legal safeguards and institutions protecting the rights of children,' including juvenile courts and juvenile rehabilitation centers. The Taliban requirement that a woman must be accompanied by a male relative also creates barriers to filing complaints and attending court proceedings, he said, and disproportionately affects widows, women who are the heads of their households, the displaced and disabled. 'Women who engage with the Taliban court system — whether as victims seeking redress, to resolve family issues, to obtain official documents or as alleged offenders — face a hostile environment,' Bennett said. 'Courts often reject complaints made by women and are especially reluctant to accept cases relating to divorce, child custody and gender-based violence.' Facing these obstacles, Bennett said, women increasingly turn to traditional and informal justice mechanisms, including formal jirgas and shuras — community councils of elders — and informal mediation by religious leaders, community elders or family. But these are all male-dominated and raise 'serious concerns about the rights of women and girls,' he said. He said international forums offer the best hope for justice. He pointed to the International Criminal Court's request on Jan. 23 for arrest warrants for two senior Taliban leaders accused of crimes against humanity for persecution 'on gender grounds.' And he urged all countries to support efforts to bring Afghanistan before the International Court of Justice, the U.N.'s highest tribunal, for violating the Convention on the Elimination of All Forms of Discrimination against Women.
