China 'super embassy' protests cost police almost £350,000 over two days
They added: 'Against the backdrop of pressure on the UK's public finances and local governments cutting community spending and welfare budgets, it is hard to convince people of the necessity of mobilising such a large-scale police force and spending in the face of a peaceful citizen demonstration, all for the political manoeuvre of establishing a mega Chinese embassy.'
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CNBC
10 minutes ago
- CNBC
Jim Cramer sees a 'bizarre' rotation in the market — plus, Starbucks makes a move in China
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Monday's key moments. 1. The stock market is starting the week relatively flat following Friday's rally due to a solid jobs report. Investors are awaiting trade news updates as American and Chinese officials gather in London . The flow of rare earth minerals out of China is a big focus of the talks. Within the stock market Monday, Jim Cramer said the action is interesting. "What I'm seeing is a kind of a very bizarre rotation. ... A lot of stocks that have been laggards like Texas Instruments are really taking off," Jim said. Meanwhile, stocks that had been certified winners are headed down. The rotation is "very daunting for people because you're buying lesser quality and selling high quality," Jim said. 2. Club name Starbucks has been on the recovering end lately, climbing nearly 7% last week and adding modest gains in Monday's session. In its latest move to navigate the competitive Chinese market, the company is cutting prices on non-coffee beverages in the country. The latest strategy is part of the coffee chain's campaign to win customers over during the summer. "It helps the story that they're doing some discounting," Jim said. It's no secret that Starbucks has had some difficulties in the region and has been looking for a strategic partner for its operations there. "I think [a partnership] would be well received by the market," said Jeff Marks, director of portfolio analysis for the Club. 3. It's a different story for portfolio name Broadcom , which closed 5% lower Friday after reporting earnings Thursday and is taking another hit Monday. Jim reminded members that on Friday he advised to hold off on buying into the stock's sell-off. "I said today's the day you buy," he said Monday. The company reported a strong quarter with AI revenue rising 46% year over year. Marks said the only real issue was the stock came into the print red hot, so it fell victim to high expectations, leading to the drop. However, the semiconductor manufacturer did see price targets raised at several firms Monday, including at Barclays, which went to $265 a share, up from $215. 4 . Stocks covered in Monday's rapid fire at the end of the video were: Warner Bros Discovery , Tesla , General Mills , and Conagra Brands . (Jim Cramer's Charitable Trust is long AVGO, SBUX . See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Western Telegraph
10 minutes ago
- Western Telegraph
Government facing ‘walk of shame' over Chinese embassy decision
Sir Iain Duncan Smith said response by the Government to the proposed embassy near the the capital's financial district had become 'Project Kowtow', as he criticised the Government for 'one denial after another (and) one betrayal after another'. Sir Iain referred to the warnings reportedly issued by the White House and Dutch government to Downing Street over the plans, which is set to be scrutinised by ministers. The worries stem from the close proximity of the proposed embassy's Royal Mint Court site to data centres and communication cables. The Sunday Times said the US was 'deeply concerned' about the plans, quoting a senior US official. In response, planning minister Matthew Pennycook said he could not give a full response as the matter was still to come before the department for a decision, and any verdict could be challenged by the courts. Sir Iain said: 'Beijing has a recent history of cutting cables and confirmed infrastructure hacks, including embedding malware capable of disabling all that infrastructure. 'Minister Peter Kyle yesterday on television said surprisingly that this was in the planning process and could be managed. Will the minister correct this record? The planning inquiry has concluded, no changes can be made to the Chinese planning application at all. 'I'll remind him the application contains nothing about cabling. Indeed to the inquiry, the Chinese have rejected only two requests, which he referred to actually, made by the Government in the letter from the foreign and home secretaries, despite ministers regularly saying that this letter, and I quote, should give those concerned, 'comfort'.' Sir Iain Duncan Smith took part in a protest over the plans for the embassy in February (PA/Jordan Pettitt) The Conservative MP said rerouting the cables would cost millions of pounds, and asked Mr Pennycook why the Government had denied the existence of cables until the White House confirmed it. He asked Mr Pennycook to deny reports by Chinese state media, saying the UK had given the Chinese assurances that it would allow a development 'no matter what'. He added: 'I see this as Project Kowtow, one denial after another, one betrayal after another. No wonder our allies believe that this Chinese mega embassy is now becoming a walk of shame for the Government.' Mr Pennycook replied because of the 'quasi-judicial nature' of his role, he could not comment on details of the application. He also said it would not be 'appropriate' for him to comment on the cabling or national security issues. He said he did not 'recognise the characterisation' by the Sunday Times of the embassy being raised in talks between the UK and China on trade. 'It is important to also emphasise that only material planning considerations can be taken into account in determining this case,' he said. 'But, as I say, I cannot comment in any detail on a case and it is not yet before the department.' Tory shadow communities secretary Kevin Hollinrake said Parliament had been treated with disdain by the Government. Mr Hollinrake said: 'Question after question, letter after letter, the Government has consistently treated Parliament with complete disregard on this matter. Stonewalling legitimate inquiries about national security, about ministerial discussions, and warnings about security bodies.' He added: 'Why won't the Government follow the examples of the US, Australian, and Irish governments which veto similar embassies that threaten their national security? 'The Government is on the verge of making a decision that will lead to huge risk, that will persist for decades. Will they change course before it is too late?' Mr Pennycook replied: 'No decision has been made on this case. No application is yet before the department.' Marie Rimmer, Labour MP for St Helens South and Whiston, said: 'China has a track record of aggressive state-backed espionage, and surely this country cannot afford to make a massive underestimation of what risk if this would go ahead?' She added: 'We cannot not say anything in this House. We must comment on what we see, and please understand that we must do so.' Meanwhile, former security minister, Conservative MP Tom Tugendhat, asked whether the Government believed the Chinese would treat a similar application in the same way. He said: 'Do you honestly believe that thr minister thinks that the Chinese would look at this proposal in the same way? 'Do we actually in this House believe that our economic security being threatened, as highlighted by the Americans and the Dutch, would go through a bureaucratic planning process with no ability to vary it because, frankly, them's the orders? 'I don't think that's the way China would do it, and it's certainly not the way we should.' Mr Pennycook replied: 'I'm very glad that we have a different and more robust planning system than the People's Republic of China.'
13 minutes ago
2 Chinese Aircraft Carriers Operate Simultaneously in Pacific
News from Japan Society Jun 10, 2025 01:19 (JST) Tokyo, June 9 (Jiji Press)--The Chinese navy's two active aircraft carriers, the Shandong and Liaoning, have operated simultaneously in the Pacific Ocean for the first time, the Japanese Defense Ministry said Monday. The Shandong on Monday conducted aircraft takeoff and landing operations in Japan's exclusive economic zone near the so-called second island chain in the Pacific, which connects Japan's Ogasawara Islands and the U.S. territory of Guam, the ministry said. The Liaoning operated off Minamitorishima, an island in the Ogasawara chain, on Saturday and Sunday, becoming the first Chinese aircraft carrier to cross the second island chain, the ministry said. The activities of the aircraft carriers are an apparent warning to the United States as China is believed to position the second island chain as one of its defense lines to block the approach of the U.S. military in the event of a conflict. Asked at a press conference on Monday about the activity of the Liaoning, Japanese Chief Cabinet Secretary Yoshimasa Hayashi said that Tokyo has said what it needs to say to Beijing. [Copyright The Jiji Press, Ltd.] Jiji Press
