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China home prices drop following EverGrande crisis

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The China Evergrande Group is taking its toll as China’s home prices fell for the first time in six years

New-home prices in 70 cities, excluding state-subsidised housing, slid 0.08 per cent in September.

Falling prices may fuel a vicious cycle by further weakening demand, which is worsening the cash shortage and forcing builders to offer bigger discounts.

It’s the first drop since April 20-15, as the secondary market declines by 0.19 per cent, down for a second month.

September is usually a peak season for the home market however residential sales fell by 17 per cent.

Investments also slid for the first time since early 2020, and the rate of failed land auctions climbed.

Pressure mounts on Evergrande group

Two Hong Kong property agencies are suing the China Evergrande Group over unpaid commissions

It piles pressure on Evergrande, a Chinese-based developer, as it scrambles to raise funds and avoid collapse.

Centa-Line filed a suit against Evergrande in September to recover 3.1 million Hong Kong Dollars in overdue commissions.

Midland Holdings is claiming unpaid commission for two developments in Hong Kong.

Evergrande has vowed to repay its suppliers and contractors in mainland China as soon as possible.

But in some cases, offering apartments or other real estate assets as construction has been halted because of the delayed payments.

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Prayer app Hallow takes #1 spot on Apple App Store

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A new Catholic prayer app recently beat out major social media apps in global downloads.

The company says, Hallow passed 10-million downloads and 225-million prayers prayed around the globe, becoming the largest prayer app in the world.

Hallow has also become the first faith-based app to ever crack the top 10 apps in the App Store coming in at #3 overall–and beating Netflix, Spotify, Instagram, Amazon, Tiktok, and YouTube.

The Cofounder and CTO of Hallow Erich Kerekes joins Veronica Dudo to discuss. #IN AMERICA TODAY #featured #apps #prayerapp #socialmedia #Applestore #business

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Google’s take on AI search to shake market direction

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Search Generative Experience (SGE), is the latest innovation from Google Labs

This cutting-edge feature, recently announced by Google, is set to transform search results for a select subset of queries and a small portion of U.S. search traffic.

With SGE, instead of the traditional top-10 results, users may encounter AI-generated responses prominently displayed at the top of the page.

This shift has significant implications, as it pushes both ads and organic results further down the page. Stay tuned for updates on this groundbreaking development in search technology.

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The battery set to change Electric Vehicles and Tesla’s market share

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The world’s biggest battery maker announced this week they’re working with Tesla to making cheaper batteries.

Recent developments in the electric vehicle (EV) market raise essential questions about its trajectory.

Cost cuts by the world’s largest battery maker could impact EV prices, potentially boosting their competitiveness. Meanwhile, advancements in mileage, power, and charging times are driving increased adoption.

However, considerations about downsides like battery disposal and resource extraction are pertinent. Nonetheless, the broader implications for climate change efforts and the automotive industry underscore the transformative potential of EVs in creating a more sustainable future.

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