{
}
Airlines are significantly reducing services to China due to low demand and high operational costs, with major carriers like British Airways and Qantas withdrawing entirely. In contrast, Chinese airlines are increasing their presence, operating 82% of flights between China and Europe this winter, despite the challenging market conditions. The situation is expected to worsen before it improves, as international interest in China remains low.
High net worth individuals (HNWIs) are increasingly active in the art market, with median spending on art and antiques at $25,555 in early 2024. Notably, HNWIs in mainland China reported the highest median expenditure at $97,000, reflecting a strong post-lockdown recovery. The survey indicates a shift towards purchasing from new galleries and emerging artists, with a growing representation of female artists in collections.
Mainland China has emerged as the top spender in art, with high net worth individuals averaging $97,000 in expenditures, significantly outpacing France ($38,000) and other markets. Looking ahead, 70% of collectors in China plan to purchase more artworks in the next year, leading a global trend where 43% of HNWIs intend to expand their collections.
Chinese companies dominate the global wind turbine market, securing 82 percent of orders in the first half of 2024, driven by substantial domestic installations. However, Suzlon Energy from India is emerging as a notable player, enhancing its presence in this competitive industry.
China's central bank has opted to maintain its one-year policy rate at 2%, following a significant reduction in funding costs last month. This decision reflects a cautious approach to monetary stimulus aimed at supporting the economy, as the People’s Bank of China drained a net 89 billion yuan ($12.5 billion) in October. Most economists anticipated the rate would remain unchanged.
Amphenol Corporation focuses on designing, manufacturing, and marketing connectors, interconnection systems, and wiring products. Its net sales are distributed geographically, with 35.1% from the United States, 23% from China, and 41.9% from other regions. UBS expresses optimism regarding the company's prospects.
Amphenol Corporation, a leader in connectors, interconnect systems, and cabling products, has received a Buy rating from UBS. The company's net sales are distributed geographically, with 35.1% from the United States, 23% from China, and 41.9% from other regions.
eBay Inc. is a leading online marketplace that facilitates buying and selling transactions for individuals and businesses through various platforms, including ebay.com, half.com, and kijiji.com. The company's net sales are primarily generated from the United States (50.2%), followed by the United Kingdom (15.9%), China (10.2%), Germany (9.6%), and other regions (14.1%). UBS has reiterated its neutral rating on the company.
Lam Research Corporation has received a buy rating from UBS. The company focuses on integrated circuit manufacturing equipment for the semiconductor industry, with net sales comprising 59.9% from product sales and 40.1% from support services. Geographically, 42.2% of sales come from China, followed by Korea (19.3%), Taiwan (11.2%), Japan (10%), the United States (7.4%), Asia (5.2%), and Europe (4.7%).
The 2024 Art Basel and UBS Survey reveals that high-net-worth collectors continue to invest in art despite economic challenges, with global imports of art and antiques rising 6% to $33 billion. Spending patterns show a decline in average expenditure, particularly among millennials, while interest in new and emerging artists is growing, with 52% of HNWIs' spending directed towards them. The share of works by female artists in collections has reached a seven-year high at 44%, reflecting a significant shift in collector preferences.
Chinese Yuan
Currency
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
airlines reduce services to china amid low demand and rising costs
United States Dollar
Chinese Yuan
British Airways (BA) Ltd.
Air China Limited
Qantas Airways Ltd.
Virgin Atlantic Ltd.
Deutsche Lufthansa AG
Scandinavian Airlines System AB
The Boeing Company
Finnair Oyj
THA
GBR
IND
SGP
ZAF
USA
HKG
JPN
KOR
AUS
FIN
RUS
CHN
John Grant
Air China
Show more
05:15 25.10.2024
high net worth individuals drive art market recovery in 2024
Hong Kong Dollar
Japanese Yen
United States Dollar
Chinese Yuan
South Korean Won
UBS AG
TWN
FRA
DEU
IDN
SGP
HKG
USA
CHN
MEX
JPN
ITA
CHE
Adrian Zuercher
Clare McAndrew
Show more
04:33 25.10.2024
mainland china dominates global art spending and future purchasing intentions
04:27 25.10.2024
suzlon energy rises in global wind turbine market amid chinese dominance
04:21 25.10.2024
China maintains policy rate after significant funding cost reduction
03:29 25.10.2024
Amphenol Corporation sees positive outlook from UBS amid global sales growth
18:31 24.10.2024
Amphenol Corporation receives Buy rating from UBS amid strong sales growth
18:25 24.10.2024
eBay maintains strong market position with diverse global sales channels
Chinese Yuan
United States Dollar
Euro
British Pound Sterling
UBS AG
eBay Inc.
CHN
GBR
DEU
USA
Show more
18:22 24.10.2024
lam research corporation receives buy rating from ubs amid strong sales growth
New Taiwan Dollar
Japanese Yen
United States Dollar
Chinese Yuan
South Korean Won
Lam Research Corporation
TWN
CHN
JPN
KOR
USA
Show more
18:19 24.10.2024
high net worth collectors adapt to changing art market trends in 2024
Hong Kong Dollar
Chinese Yuan
United States Dollar
British Pound Sterling
UBS AG
Sotheby's
Phillips 66
Christie's Assets Ltd.
Bonhams Ltd.
CHN
GBR
USA
HKG
Show more
14:36 24.10.2024
Trending
Subcategory
Corporate News
Industry Trends
Stock Market Updates
Retail and Consumer Goods
Startups & Entrepreneurship
CEO Changes
Financial Scams and Security
Banking Regulations
Global Financial Events
Finance Mergers & Acquisitions
Market Analysis and Predictions
Industry Mergers & Acquisitions
Central Bank Actions
Hedge Funds & Private Equity
Global Trade Developments
Workplace Trends
Supply Chain Management
Government Economic Policies
Corporate Social Responsibility
AI Innovations
Countries:
Companies:
Tesla, Inc.
Wells Fargo & Company
Bank of America Corporation
The Goldman Sachs Group, Inc.
Barclays PLC
NatWest Group plc
Apple Inc.
JPMorgan Chase & Co.
Lloyds Banking Group plc
Mastercard Inc
Visa Inc.
Santander UK plc
Citigroup Inc.
Morgan Stanley
HSBC Holdings plc
Nintendo Co., Ltd.
Berkshire Hathaway Inc.
Mercedes-Benz Group AG
Amazon.com, Inc.
OpenAI ERC USD
Currencies:
United States Dollar
Chinese Yuan
British Pound Sterling
Swiss Franc
Euro
Japanese Yen
Indonesian Rupiah
Indian Rupee
Offshore Chinese Yuan
United Arab Emirates Dirham
Singapore Dollar
Qatari Riyal
South Korean Won
Jordanian Dinar
Brazilian Real
People: