CNBC International’s Post

The past year has proven transformative for financial technology. Global venture funding into the fintech sector has declined sharply from the industry’s heyday in 2020 and 2021, and experts say the market is in a new normal, with valuations correcting from unsustainable highs. In this climate, CNBC, together with market research firm Statista, has listed the top 250 fintech companies globally. Here we highlight the editor’s picks which are handpicked standout companies from each individual market segment for their newsworthiness. ➡️ Find the full list: https://cnb.cx/3VY2roM

It’s hard to avoid giving your child a smartphone in this new digital age, but some parents around the world are looking to buck the trend and seek out guidance on how to protect their kids from the harms of smartphone use, writes Sawdah B.: https://cnb.cx/4cWIBSc Young people who acquired a phone before the age of 10 reported worse mental health outcomes than those who acquired a phone over the age of 15, a Sapien Labs study of 27,969 18–24-year-olds from 41 countries last year found. Columbia’s Pike and Zach Rausch, a research scientist at New York University Stern School of Business and lead researcher for Jonathon Haidt’s number one New York Times bestseller “The Anxious Generation,” shared five tips on how to avoid giving your kids a smartphone.

When in comes to the cost of living, Hong Kong and Singapore are the most expensive cities in Asia.   🇸🇬 “Singapore is one of the most attractive locations for people looking to boost their careers,” Tracey Ma, regional mobility leader, APAC at Mercer, told CNBC Make It. 🏡 Factors such as the country’s “strong” economic situation and the hot housing market can attract expats into the country. ❓ What do you think is the average cost of rent for a 3-bedroom in Singapore’s city center? Find the answer here: https://cnb.cx/3Wo0NNm

French train services have been canceled and delayed after the nation’s high-speed rail network faced a series of “malicious” acts overnight, including arson. The attacks come just ahead of the opening ceremony for the Olympic Games along Paris’s River Seine, set to feature tens of thousands of athletes and spectators along with a heavy police presence. International services on the Eurostar were hit, with some journey times extended and trains canceled. Find out more: https://cnb.cx/4c8jB9u

Global credit ratings agency Fitch Ratings has withdrawn its ratings on Lebanon, citing a lack of credible data. CNBC’s Dan Murphy speaks to Nasser Saidi, the former Lebanese minister of economy, to understand how the withdrawal could impact the country’s economy and financial stability.

Apple was edged out of the top five smartphone vendors’ list in China in the second quarter, as competition from domestic brands such as Huawei intensifies, according to a Canalys report The iPhone maker, which was the third-largest smartphone vendor in the second quarter last year, dropped to the sixth spot with about 9.7 million in shipments, according to CNBC calculations. “It is the first quarter in history that domestic vendors dominate all the top five positions,” said Lucas Zhong, research analyst at Canalys. Read more: https://cnb.cx/3zYDZMO

What would a second Trump presidency mean for Chinese EV makers? Michael Dunne of Dunne Insights LLC, a firm that tracks the auto market in China and other Asian countries, explains why he thinks former President Trump may allow Chinese EV brands to produce in the United States. Here’s why.

OpenAI on Thursday announced a prototype of its search engine, called SearchGPT, which aims to give users “fast and timely answers with clear and relevant sources.” The company said it eventually plans to integrate the tool, which is currently being tested with a small group of users, into its ChatGPT chatbot. Read more: https://cnb.cx/4di4M4Z