Chinese giant Baidu can't be stopped | Europe isn't relying on Russia â finally | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for August 31st in 3:15 minutes. ð¥ Everyone knows that if you want to buy a house as a young person, you just need to quit that all-consuming avocado toast obsession. Just kidding: join Plancorpâs Peter Lazaroff for [How To Build Wealth In Your 20s]( on Thursday, and find out how you can really set yourself up for life, early in life â no millenial clichés allowed. [Grab your free ticket]( Today's big stories - China's Google-equivalent Baidu reported better-than-expected results, despite its core business struggling
- Bitcoin has been rising and falling as the Nasdaq does, but that might stop soon â [Read Now](
- Europeâs approaching its gas storage targets much sooner than expected Chinaâs Struggling Economy Didnât Phase Baidu [Chinaâs Struggling Economy Didnât Phase Baidu] Whatâs Going On Here? Chinese internet giant Baidu [reported]( better-than-expected quarterly results on Tuesday. What Does This Mean? Baidu â the company behind Chinaâs biggest search engine â usually makes a lot of its money from digital marketing, but Chinaâs struggling economy is hardly encouraging businesses to splash the cash. Baiduâs online marketing sales fell 12% last quarter from the year before as a result, a trend also clear in rival Tencentâs [results]( earlier this month. So Baidu will be feeling extra grateful for its cloud business, which grew its revenue by 31% from the same time last year on the back of steadily rising demand for internet applications. So sure, Baiduâs overall revenue dropped for the first time in two years, but the 5% dip was still better than analysts feared. Then sprinkle in some increased profit margins here â âhereâ being Baiduâs Netflix-esque video service iQiyi â with some cost cuts there, and Baiduâs profit came in a whopping 63% higher than expected. Why Should I Care? The bigger picture: No more awkward cab chats.
Baidu's newer ventures could help it further offset that sluggish core advertising business in the future. The internet giantâs doubling down on self-driving technology, for one, having invested heavily into the sector over the past five years. Itâs been a good ride so far: Baiduâs âApollo Goâ driverless robotaxis completed nearly 300,000 rides last quarter, and it [secured]( a permit this month thatâll let it operate without on-board safety supervisors for the first time ever in China ([tweet this](). Zooming out: Buffettâs driving change.
Warren Buffettâs going driver-free too, with Pilot Co. â the Berkshire Hathaway-owned truck stop operator â [agreeing]( to take a stake in driverless truck startup Kodiak Robotics last week. That could be a savvy move: the existing pool of truck drivers is shrinking and aging, so driverless solutions could help alleviate that shortage, bring down costs, and even improve safety too. You might also like: [The rise and rise of automation and artificial intelligence.]( Copy to share story: [( ð [Ask a question](mailto:questions@finimize.com?body=Ask us a question:
Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Chinaâs Struggling Economy Didnât Phase Baidu&utm_campaign=daily-global-31-08-2022&utm_source=email) Analyst Take
Can Bitcoin Rise If The Nasdaq Doesnât? [Can Bitcoin Rise If The Nasdaq Doesnât?]( By Jonathan Hobbs, Analyst Bitcoin and the marketâs so-called âgrowth stocksâ have been [moving almost hand-in-hand all year](. Their lockstep moves have led some investors to believe that bitcoin can only go up if [the Nasdaq 100]( â heavy with tech-sector growth stocks â does too. Thing is, the data suggests the two are [not as tightly correlated as you might think](. Thatâs todayâs Insight: [whether bitcoin can rise, even if the Nasdaq doesnât](. [Read or listen to the Insight here]( SPONSORED BY ARRIVED Build your real estate empire Buying a house is increasingly ambitious in this economy, let alone owning an empire. Good job, then, that you can [reap all the rewards of owning property]( without needing to cough up a huge chunk of cash. By buying shares in rental properties with [Arrived](, youâll be able to [bring in monthly income]( while also seeing your investments grow in value over the years. And you wonât have to deal with any traditional landlord headaches, either: [Arrived]( will look after the management side for you, so youâll never have to deal with admin or pesky tenants. [Browse rental properties on Arrived today](. [Check Out Arrived]( Europe Finally Has Its Own Back [Europe Finally Has Its Own Back] Whatâs Going On Here? Data out this week [showed]( that Europeâs already closing in on its gas storage targets. What Does This Mean? Russiaâs been cutting the amount of natural gas it sends into Europe for months, and that supplyâs about to drop even lower as the Nord Stream â one of the main pipelines between Russian and Europe â undergoes unexpected maintenance starting this week. But Europeâs been preparing for this: the region upped the minimum required level of its reserves earlier this year, and itâs been building those stockpiles as fast as it can. After all, those reserves typically provide around 30% of the fuel used during frosty European winters â and theyâll probably account for even more now thereâs less imported gas to go around. While hoarding gas wonât solve all of Europeâs energy problems, itâs still good progress: European Union reserves were filled to nearly 80% last week, meaning the regionâs hit its November target a whole two months early. Why Should I Care? The bigger picture: Chinaâs trash is Europeâs treasure.
Europe did benefit from a stroke of good luck: Chinaâs sputtering economy has pushed the worldâs biggest buyer of liquefied natural gas to [sell]( off surplus supplies, and Europe jumped at the chance to buy some for its reserves. But recent historyâs warned the region against depending on one supplier, so itâs been trying to upgrade its own renewable energy infrastructure and bolster its energy imports from the Middle East and US as well. For markets: Good news, bad reaction.
News of healthier-than-expected supplies sent Europeâs natural gas prices plunging by the most since March, a welcome change from their steep incline over the last few months. Mix that with data out on Tuesday that showed inflation expectations at their lowest since spring, and thatâs, uh⦠still not enough to put a smile on dejected European faces. In fact, consumers and businesses are the most pessimistic theyâve been about Europeâs economic outlook since the Covid-ridden January 2021. You might also like: [How to hedge yourself if Russia completely pulls the plug on European gas.]( Copy to share story: [( ð [Ask a question](mailto:questions@finimize.com?body=Ask us a question:
Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Europe Finally Has Its Own Back&utm_campaign=daily-global-31-08-2022&utm_source=email) ð¬ Quote of the day âAdventure is worthwhile in itself.â â Amelia Earhart (an American aviation pioneer and writer) [Tweet this]( SPONSORED BY ARRIVED Take a break from the volatility Investing probably feels more turbulent than usual these days. So if youâre seeking some more stability, you might want to check out [rental real estate](: a historically reliable way for you to [build up long-term wealth]( while making [monthly income](. We can hear you now: âbut what about the massive upfront cost of buying a rental home, not to mention the headaches that come with management and tenants?â. You donât need to worry about that with [Arrived](: you can invest in [shares of rental properties]( chosen for their investment potential, and its team will handle all of the management for you. Enjoy some stability today: [check out Arrivedâs rental home investments](. [Find Out More]( When you support our sponsors, you support us. Thanks for that. ð¯ On Our Radar - Facebook wants its edge back. The has-been app has a [plan to become cool again](.
- Crypto without high fees. You can get up to â¬100 in ether [just for joining Change and trading â¬100 in crypto](.*
- Sugar might make you stupid. [These rats]( are proof.
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