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☆ The city whose 'doom loop' just might be worse than San Francisco's
▼ + stars: | 2024-04-13 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +5 min

An office building in St. Louis sold for $3.6 million after selling for $205 million 18 years prior. Downtown St. Louis is filled with unoccupied buildings and an unwillingness to visit them. The steep drop in the tower's value is just one sign that St. Louis' central business district is struggling, reports say. Indeed, St. Louis' downtown resembles a ghost town with a number of boarded-up buildings, according to The Wall Street Journal's Konrad Putzier. AdvertisementThe problem with Midwestern cities, like St. Louis, is that there's not much attracting people to the center of the city — and that applies to commuters, tourists, and residents.

Persons: Louis, —, Konrad Putzier, Glenn MacDonald, Business Insider's Eliza Relman, Michael Hicks, BI's Relman, Relman, Tracy Hadden Loh Organizations: Service, T, Goldman Group, News, Washington University, Olin Business School, Business, University of Toronto, Midwest ., Ball State University, Midwest, Brookings Institution Locations: St, Downtown St, Francisco's, North America, Midwest, Midwest . San Francisco, Indiana, —, San Francisco and New York

☆ China's commercial property segment is seeing some bright spots amid a slump in the wider realty sector
▼ + stars: | 2024-04-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Vcg | Visual China Group | Getty ImagesBEIJING — China's commercial property sector is seeing pockets of demand amid an overall real estate slump. Commercial real estate, which includes office buildings and shopping malls, makes up just a fraction of China's overall property market. Sales for both commercial and residential properties had fallen for much of last year, according to Wind. Covid-19 restrictions on movement had also cut demand for China's commercial property, in line with global trends. China's economy, however, took longer than expected to rebound from the pandemic, amid a broader slump in the property market.

Persons: JLL Organizations: Visual China, Getty, BEIJING Locations: Beijing, China

☆ Asia markets climb as U.S. Treasury yields pressure Wall Street; data from Australia and Japan on deck
▼ + stars: | 2024-04-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

An aerial view of the central business district and Sydney Opera House on February 17, 2023. On Tuesday, investors in Asia will observe business confidence surveys from Australia and consumer confidence data from Japan. Asia-Pacific markets climbed even as U.S. Treasury yields put pressure on Wall Street equities Monday. Futures for Hong Kong's Hang Seng index stood at 16,831, pointing to a weaker open compared to the HSI's close of 16,732.85. Treasury yields rose, with the rate on the benchmark 10-year Treasury note up about 4 basis points to 4.42%.

Persons: CNBC's Hakyung Kim, Yun Li Organizations: Sydney Opera House, Treasury, Wall, Nikkei, Dow Jones, Nasdaq Locations: Asia, Australia, Japan, Pacific, U.S, . Federal

☆ Alice Springs, Australia: A town has imposed a curfew on its children as it grapples with youth crime
▼ + stars: | 2024-03-29 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +7 min

Since then, relative calm has returned to Alice Springs, or Mparntwe, its traditional name. Decades of racism and neglect erupted on the streets of Alice Springs on Tuesday, though youth crime is a problem in many other Australian cities. Those are the issues that are part of the story of Alice Springs,” Lawler said. “There is nowhere in the world that has said that a youth curfew is effective – it just criminalizes young people. Northern Territory Police Force Commissioner Michael Murphy speaks to media during a press conference in Darwin, Wednesday, March 27, 2024.

Persons: –, Eva Lawler, they’re, ”, Alice Springs, Darren Clark, Alice, rampaged, “, ” Clark, It’s, don’t, ” Lawler, Matt Paterson, Jared Sharp, that’s, ” Sharp, Michael Murphy, Neve Brissenden, Catherine Liddle, haven’t Organizations: Australia CNN, Northern, Sydney, Alice, North Australian Aboriginal Justice Agency, Sky News, Northern Territory Police Force, Reuters, Australia –, Torres, Guardian, of National Aboriginal, Islander, Northern Territory Police, Children Locations: Brisbane, Australia, Alice Springs, “, Northern, Alice, Utopia, Darwin, Northern Territory, Torres Strait

☆ Hong Kong lawmakers pass new national security law, giving government more power to curb dissent
▼ + stars: | 2024-03-19 | by ( ) www.cnbc.com time to read: +2 min

Hong Kong lawmakers passed a new national security law on Tuesday that grants the government more power to quash dissent, widely seen as the latest step in a sweeping political crackdown that was triggered by pro-democracy protests in 2019. The legislature passed the Safeguarding National Security Bill during a special session Tuesday. The law threatens stringent penalties for a wide range of actions authorities call threats to national security, with the most severe — including treason and insurrection — punishable by life imprisonment. "I fully agree with what the Chief Executive said: the sooner the legislation is completed, the sooner national security will be safeguarded," he said. Hong Kong's political scene has changed dramatically since the massive 2019 street protests that challenged China's rule over the semi-autonomous territory, and the imposition of Beijing's National Security Law.

Persons: Hong, John Lee, Andrew Leung, Critics, China's Organizations: National, Kong's Legislative, Legislative, British, National Security Law Locations: Central, Hong Kong, Beijing, Kong's

☆ Singapore bumps up 2024 GDP forecast on manufacturing growth; lowers headline inflation outlook
▼ + stars: | 2024-03-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Singapore's economy expanded by a slightly more modest pace than initially expected in 2023, as manufacturing activity contracted and services growth slowed. Singapore's economy in 2024 is forecast to grow faster than estimated earlier, while the outlook for inflation has been revised lower, the Monetary Authority of Singapore's survey showed Wednesday. The survey of forecasters has pegged this year's growth at 2.4% and headline inflation at 3.1%, compared with the December survey's estimates of 2.3% GDP growth and inflation at 3.4%. Singapore's manufacturing sector — which makes up over 20% of the country's GDP — is now expected to grow at 4% in 2024, up from 2.3%. While economists raised their forecasts for the manufacturing, finance and insurance, and construction sectors, the outlook for the wholesale and retail trade, as well as accommodation and food services sectors was revised lower.

Organizations: Monetary Authority Locations: Singapore

☆ Hong Kong GDP to grow 2.5%-3.5% in 2024, scraps property tightening measures
▼ + stars: | 2024-02-28 | by ( ) www.cnbc.com time to read: +1 min

People cross an intersection in the Central business district of Hong Kong on Feb. 27, 2024. Hong Kong's economy is expected to grow 2.5%-3.5% this year, Financial Secretary Paul Chan said on Wednesday as he announced measures to bolster a flagging property market and support the economy. The special administrative region, which expanded 3.2% in 2023, will cancel all buy-side property tightening measures for residential properties and waive stamp duties payable on the transfer of REIT units, Chan said. "We decided to cancel all demand-side management measures for residential properties with immediate effect. We consider that the relevant measures are no longer necessary amidst the current economic and market conditions," Chan said, adding that there was room to further adjust measures for the property market.

Persons: Paul Chan, Chan Organizations: Financial, HK Locations: Central, Hong Kong, Hong

☆ Singapore trims 2023 economic growth to 1.1% as manufacturing sector contracts
▼ + stars: | 2024-02-15 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

SINGAPORE — Singapore lowered its full-year growth for 2023, as official data on Thursday showed the economy grew 1.1% last year compared to an earlier estimate of 1.2%. Growth in 2023 was largely driven by "other services industries" which grew by 3.9% year-on-year. Information and communications, as well as transportation and storage sectors also drove growth,"All sectors except for the manufacturing sector recorded full-year expansions," the Ministry of Trade and Industry reported. Last year, the manufacturing sector — a key driver of the economy — contracted by 4.3%, reversing from the 2.7% growth in 2022. The construction sector grew by 5.2%, an improvement from the 4.6% expansion in 2022.

Organizations: Singapore Central Business District, ArtScience Museum, Ministry of Trade, Industry Locations: Sands, Marina Bay, Singapore, SINGAPORE — Singapore

☆ The mayor of Minneapolis joked that remote work turns you into a 'loser' with a 'nasty cat blanket'
▼ + stars: | 2024-02-08 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Minneapolis' mayor Jacob Frey took aim at remote workers during an address, saying WFHe turns you into a loser. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMinneapolis mayor Jacob Frey made a jibe about remote workers being 'losers' while touting the benefits of visiting the city's business district. "When they stay home, sitting on their couch with their nasty cat blanket, diddling on their laptop. And as remote work continues to persist, the demand for traditional office spaces is also decreasing.

Persons: Jacob Frey, WFHe, —, Frey, It's, We're Organizations: Service, Minneapolis Downtown Council's, Minneapolis, Fox, CBS Locations: Minneapolis

☆ China appoints 'Broker Butcher' Wu Qing as new chairman of securities regulator
▼ + stars: | 2024-02-07 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

BEIJNG, CHINA - NOVEMBER 13: Illuminated skyscrapers stand at the central business district at sunset on November 13, 2023 in Beijing, China. (Photo by Gao Zehong/VCG via Getty Images)China's cabinet on Wednesday appointed markets veteran Wu Qing as chairman of the China Securities Regulatory Commission, state media Xinhua said, replacing Yi Huiman to navigate Beijing through the turbulent waters of a market downturn. Nicknamed the "Broker Butcher" for his crackdown on traders, Wu was previously the acting vice mayor of China's major financial hub Shanghai and served nearly two years as chairman of the Shanghai Stock Exchange. His predecessor Yi took the mantle of the CRSC in 2019, tasked to undertake a spate of sweeping capital markets reforms. Wu's appointment comes on the footsteps of the CSRC over the past two weeks announcing new supportive policies to stabilize and revitalize China's stricken stock market, which has become a casualty of volatility in the property sector and widespread investor pessimism over the outlook for the world's second-largest economy.

Persons: Gao Zehong, Wu Qing, Yi Huiman, Wu, Yi Organizations: Getty, China Securities Regulatory Commission, Xinhua, Shanghai Stock Exchange Locations: BEIJNG, CHINA, Beijing, China, Shanghai

☆ Asia markets poised for mixed open as they kickstart holiday-shortened week; central bank decisions in focus
▼ + stars: | 2024-02-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Jade Gao | Afp | Getty ImagesAsia-Pacific stocks were set for a mixed open as they kickstart a holiday-shortened trading week for some markets. Investors will watch out for key central bank decisions this week, especially from the Reserve Bank of Australia on Tuesday and the Reserve Bank of India on Thursday. On Monday, private surveys on service sector activity will be released from China and Hong Kong. Hong Kong's Hang Seng index is also set to fall, with futures at 15,412 compared to the HSI's close of 15,533.56. China, Taiwan, South Korea, Singapore, and Hong Kong will all see shortened trading weeks as the Lunar New Year approaches.

Persons: Jade Gao, Hong Organizations: Central Business District, Afp, Getty, Investors, Reserve Bank of Australia, Reserve Bank of India, Nikkei Locations: Beijing, Asia, Pacific, China, Hong Kong, Singapore, Thailand, Australia, Chicago, Osaka, Taiwan, South Korea

Today, remote work has declined from its levels of the pandemic but is still – depending on how broadly one measures it – three to four times as prevalent as it was in 2019. And remote work tends to be dominated by higher-educated employees, with nearly 40% of those holding advanced degrees hybrid or fully remote. In early January, LinkedIn’s Global State of Remote and Hybrid Work study found that at its peak, in April of 2022, the share of job postings that offered remote work reached 20.3%. The more enduring feature of remote work is now hybrid.”There are also substantial differences within industry and among countries. “You’re moving to where the housing is cheaper.”Not that it is all rosy when it comes to remote work.

Persons: ”, Kory Kantenga, Sandra Moran, Julia Pollak, Nick Bunker, Layla O’Kane, Lightcast, Morris Davis, Andra Ghent, Jesse Gregory, ” Goldman Sachs, Boyer, Brad Case, “ That’s, Software’s Moran Organizations: LinkedIn, Workforce Software, LinkedIn’s Global, Labor Statistics, North, “, Oxford University Press, Economic Studies, Rutgers University, Andra, University of Utah, University of Wisconsin, Ivory, Google, NASA, Middleburg Communities, Green Mountain Locations: U.S, Israel, Ghent, Real Estate, Santa Ana , California, LLC.org . New York, Huntsville , Alabama, Huntsville, Glendale , Arizona, Phoenix, Arlington , Texas, Dallas, Middleburg, San Francisco, New York, Charlotte, Raleigh , North Carolina, Orlando, Jacksonville , Florida, Houston, San Antonio , Texas, Florida, Texas, Vermont, Green Mountain State, California

☆ 'It's really bad': China strategist warns of deflation and rock-bottom consumer confidence
▼ + stars: | 2024-01-23 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

BEIJNG, CHINA - NOVEMBER 13: Illuminated skyscrapers stand at the central business district at sunset on November 13, 2023 in Beijing, China. The economy here is bad, it's pretty ... it's really bad. In December, depressed prices for pork — which makes up around a fifth of China's CPI basket — heralded the possible advent of deflation. The decision comes amid infectious expectations among investment banks that China's economy will expand at a more sluggish pace in 2024. Despite this, the International Monetary Fund in November outlined a forecast for China's growth to slow in 2024 to just 4.6%.

Persons: Gao Zehong, it's, I've, Shaun Rein, CNBC's, Rein, Li Qiang, Li Organizations: Getty, China Market Research Group, CPI, People's Bank of China, Economic, International Monetary Fund Locations: BEIJNG, CHINA, Beijing, China, Davos, Switzerland

☆ Wanda Properties says extension on $600 mln bond repayment gains early consent from holders
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

A sign of Wanda is pictured at the headquarters of Dalian Wanda Group, in Beijing's Central Business District (CBD), China August 8, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Nov 30 (Reuters) - Chinese real estate firm Wanda Properties International [RIC:RIC:WPIC.UL], a unit of conglomerate Dalian Wanda Group, said on Thursday it had received early consent approval from bondholders to extend the repayment on a $600 million guaranteed bond due 2024. The regulatory filing in Hong Kong said those voting in favour of the extension represented more than 99.3% of the aggregate principal amount of the bonds. Wanda Properties is still seeking final approval to extend the payment date of its $600 million 7.25% note to Dec. 29, 2024 from the current maturity date of Jan. 29, at a meeting of bondholders on Dec. 13 this year. Reporting by Liz Lee and Beijing newsroom; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Wanda, Tingshu Wang, Wanda Properties, Liz Lee, Jamie Freed Organizations: Dalian Wanda Group, Beijing's, Business, REUTERS, Rights, RIC, Dalian Wanda, Thomson Locations: China, Rights BEIJING, Hong Kong, Beijing

NEW YORK (AP) — Most drivers would pay $15 to enter Manhattan’s central business district under a plan released by New York officials Thursday. Officials say that in addition to funding needed transit improvements, congestion pricing will result in improved air quality and reduced traffic. Opponents include taxi drivers, who had pushed for a full exemption. Phil Murphy criticized the traffic mobility board's proposal after some news organizations reported on it Wednesday ahead of its official release. The MTA board will vote on the plan after a series of public hearings scheduled for February 2024.

Persons: ” Carl Weisbrod, Bhairavi Desai, Phil Murphy, George Washington, Murphy Organizations: New, Revenue, Traffic, Metropolitan Transportation Authority, Government, MTA, New York City Taxi Workers Alliance, ” New, ” New Jersey Gov, George Washington Bridge Locations: New Jersey, United States, Manhattan, London, Stockholm, New York City, U.S, New York, ”, ” New Jersey

☆ Australia Oct inflation slows more than expected as goods prices fall
▼ + stars: | 2023-11-29 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

For the month, CPI fell 0.3%, driven by declines in petrol, rent and holiday travel. A closely watched measure of core inflation, the trimmed mean, rose an annual 5.3% in October, easing from 5.4% the previous month. "It's hard to find bad news in Australia's October inflation print," said Harry Murphy Cruise, an economist at Moody’s Analytics. Prices for tradable goods fell 1.6% in October from a month earlier. It also left the door open to further tightening if necessary to meet its annual inflation target of 2-3%.

Persons: Daniel Munoz, Harry Murphy Cruise, Jonathan Kearns, Wayne Cole, Stella Qiu, Lincoln, Sam Holmes Organizations: REUTERS, Rights, U.S ., Australian Bureau, Statistics, Moody’s, Reserve Bank Board, Reserve Bank of Australia, Challenger, Thomson Locations: Australia

☆ How China's Shein became a fast-fashion giant
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +3 min

A Shein logo is pictured at the company's office in the central business district of Singapore, October 18, 2022. REUTERS/Chen Lin/File Photo Acquire Licensing RightsNov 28 (Reuters) - China-founded fashion company Shein has confidentially filed to go public in the United States, two sources familiar with the matter told Reuters on Monday. Shein says the approach has helped it consistently achieve average unsold inventory rates in the low single digits. At that valuation, Shein would still trail Uniqlo owner Fast Retailing's (9983.T) $80 billion valuation and Zara owner Inditex's (ITX.MC) $126 billion. Shein moved its headquarters to Singapore from Nanjing, capital of China's eastern Jiangsu province, around late 2021, a shift that analysts said helps the firm circumvent China's tough new rules on overseas listings.

Persons: Chen Lin, Shein, Chris Xu, PDD, Inditex's, Miyoung Kim, Stephen Coates Organizations: REUTERS, Reuters, WHO, Shein, Walmart, Thomson Locations: Singapore, China, United States, Europe, Asia, U.S, Swedish, Zara, Nanjing, China's, Jiangsu

☆ Australia Oct retail sales slip as consumers hold off for Black Friday sales
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

Women shop for clothes on a store in a shopping mall in Sydney's central business district (CBD) Australia, February 5, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsSYDNEY, Nov 28 (Reuters) - Australian retail sales unexpectedly slipped in October as consumers cut back on everything but food, though analysts believe many were merely saving some money to splurge on Black Friday sales that took place this month. Retail sales fell 0.2% from September to A$35.77 billion, data from the Australian Bureau of Statistics (ABS) showed on Tuesday. "This is a pattern we have seen develop in recent years as Black Friday sales grow in popularity." Data from e-commerce firm Shopify also showed that point-of-sale sales made by its merchants in Australia during this year's Black Friday sales grew 27% from a year ago.

Persons: Daniel Munoz, Ben Dorber, Shopify, that's, Marcel Thieliant, Michele Bullock, Stella Qiu, Tom Hogue, Edwina Gibbs Organizations: REUTERS, Rights, Australian Bureau of Statistics, Black, ANZ, Asia Pacific, Capital Economics, Reserve Bank of Australia, Thomson Locations: Australia

The Singapore-based company has not determined the size of the deal or the valuation at IPO. The online fast-fashion retailer, which manufactures most of its merchandise in China, faces criticism that Uyghur forced labor is used to make its low-priced apparel and home goods. Earlier this year, the congresswoman led a bipartisan call for the SEC to halt Shein’s IPO until it verifies that the company does not use forced labor within its supply chain. Shein did not immediately respond to a request for comment, but the company has previously told Reuters it has “zero tolerance for forced labor” and has no contract manufacturers in Xinjiang. Shein's IPO is "going to be raising issues (for the SEC) that may later be applied across the board to all China-based or China-related companies that are going public," Penick said.

Persons: Chen Lin, Shein confidentially, Shein, Jennifer Wexton, Megan Penick, Robinson, Penick, Republican Sen, Marco Rubio, ”, Rubio, Chris Smith, Smith, ByteDance's TikTok, Group's, Katherine Masters, Arriana, Michael Martina, Marguerita Choy Organizations: REUTERS, Bloomberg, Beijing, U.S . Securities, Exchange Commission, SEC, Reuters, Reuters Graphics, Capitol Hill, Republican, Congressional, Commission, Oritain, U.S, Thomson Locations: Singapore, China, New York, U.S, Beijing, Washington, China's Xinjiang, Xinjiang, India

☆ China's central bank pledges to support domestic demand
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Nov 27 (Reuters) - China's central bank on Monday said it would fend off systemic risks to the economy and use forceful and targeted monetary policy to better support domestic demand. "Prudent monetary policy should be precise and forceful, with greater emphasis on cross-cyclical and countercyclical adjustments, enriching the monetary policy toolbox," the bank said. The bank added it would "further unblock the monetary policy transmission mechanism", enhance the stability of financial support for the real economy and keep prices "reasonably stable". China's economy is gaining momentum, but it faces challenges such as an imbalanced global economic recovery and an unstable foundation for domestic economic recovery, the central bank said. "Supply and demand dynamics in the property market have greatly changed," the central bank said.

Persons: Thomas Peter, Liangping Gao, Kevin Yao, Ella Cao, Ethan Wang, Bernard Orr, Toby Chopra, Christina Fincher Organizations: Central Business District, National People's Congress, REUTERS, Rights, Thomson Locations: Beijing, China, Rights BEIJING

☆ An afternoon at the popular Chinese coffee chain that should be making Starbucks very, very nervous
▼ + stars: | 2023-11-24 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +7 min

A Chinese coffee chain called Luckin Coffee recently overtook Starbucks in China, beating the international coffee chain in sales in the second quarter of 2023, the Wall Street Journal reported on Sunday. Founded in Beijing in 2017, Luckin Coffee has staged a dramatic turn-around. AdvertisementCurious to see whether Luckin could live up to its Starbucks-killer hype, I headed over to a Luckin Coffee in Singapore's central Chinatown neighborhood on Thursday afternoon. Luckin Coffee and Starbucks did not respond to my requests for comment for this story. Ordering my coffee was machine-like: technical, efficient and impersonalA typical ordering experience on the Luckin Coffee app means you'll never have to interact with a human.

Persons: —, Luckin, Kai Xiang Teo, he'd, weren't, Amanda, didn't dally, Esther, I've, Jeremy Organizations: Service, Starbucks, Wall Street, Google, Singapore Locations: China, Beijing, China . Singapore, Singapore's, Chinatown, Luckin, Singapore, Hong Kong

☆ Australia regulator targets 'carbon neutral' claims in greenwashing crackdown
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

Office buildings are seen amidst the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. ASIC has filed three lawsuits alleging unfounded environmental claims by two pension funds and a personal finance platform, and named so-called greenwashing as one of its priority enforcement areas for 2024. she added.,The regulator would hold investment distribution platforms accountable for the products they sell. So far, the regulator had issued interim orders to stop the distribution of some 80 investment products which it considered inappropriate. "For a number of those stop orders, the issuers of the products did step back, they've corrected ... and they've reissued it," she said.

Persons: Loren Elliott, Sarah Court, they've, Byron Kaye, Ayushman, Subhranshu Sahu, Miral Organizations: Central Business District of, REUTERS, Australian Securities and Investments Commission, Thomson Locations: Central Business District of Sydney, Australia, Melbourne, Sydney

☆ New Delhi air pollution: Why can’t India’s capital clean up its toxic air like Beijing?
▼ + stars: | 2023-11-16 | by ( Rhea Mogul | ) edition.cnn.com time to read: +11 min

“It’s an invisible killer,” said Jyoti Pande Lavakare, author of “Breathing Here is Injurious to Your Health: The Human Cost of Air Pollution” and co-founder of clean air non-profit Care for Air. China’s capital has since cleaned up its act, which begs the question: if Beijing can clean up its toxic air, why can’t India too? A key moment in China’s fightback came in 2013, when the government started to invest billions of dollars into a national air pollution action plan. Hundreds of thousands of lives savedChina’s raft of clean air policies have been so successful, they have saved hundreds of thousands of lives, research has shown. They say Kejriwal’s team has done little in terms of implementing effective policies to clean New Delhi’s air.

Persons: “, ”, Jyoti Pande Lavakare, Arun Sankar, China’s, –, Wang Zhao, China’s fightback, Frank Christian Hammes, IQAir, Sunil Dahiya, Dahiya, Stringer, Arvind Kejriwal, Kejriwal, Virendra Sachdeva, Sanjay Kishan Kaul, Sudhanshu Dhulia, Raj K Raj, “ You’re Organizations: CNN, Health, Pollution, Air, Getty, United, Global, Energy, Institute, University of Chicago, Centre for Research, Clean, Bloomberg, Beijing, Care for Air, Aam Aadmi Party, Bharatiya Janata Party, AAP, Ministry of Environment, Hindustan Times Locations: Delhi, Beijing, India, ”, AFP, United States, China, Swiss, New Delhi, Haryana, Punjab, Uttar Pradesh, New, Indonesia, Malaysia, Care, CREA, IQAir

☆ Australia employment rebounds in Oct, jobless rate still edges up
▼ + stars: | 2023-11-16 | by ( Wayne Cole | ) www.reuters.com time to read: +2 min

A worker pushes a trolley loaded with goods past a construction site in the central business district (CBD) of Sydney in Australia, March 15, 2018. REUTERS/David Gray/File Photo Acquire Licensing RightsSYDNEY, Nov 16 (Reuters) - Australia employment rebounded strongly in October, after a soft patch the previous month, though the jobless rate still ticked higher as more people went looking for work and rapid migration boosted the supply of labour. Figures from the Australian Bureau of Statistics on Thursday showed net employment rose 55,000 in October from September, more than double market forecasts of 20,000. The jobless rate edged up to 3.7%, matching forecasts and largely due to a jump in the participation rate back to an all-time peak of 67%. Over the year to October, jobs growth of a healthy 2.8% was still not enough to match labour force growth of 3.8%.

Persons: David Gray, Bjorn Jarvis, Wayne Cole, Kim Coghill, Jacqueline Wong Organizations: REUTERS, Rights, Australian Bureau, Statistics, Reserve Bank of Australia, Thomson Locations: Sydney, Australia

☆ African online retailer Jumia's Q3 losses narrow with further fall expected
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Workers are seen inside an Africa-focused tech startup Jumia Technologies, pickup station in downtown central business district in Nairobi, Kenya November 16, 2021. REUTERS/Monicah Mwangi/File Photo Acquire Licensing RightsJOHANNESBURG, Nov 15 (Reuters) - African e-commerce firm Jumia Technologies said on Wednesday that cost savings had helped it reduce third quarter losses by 67% from a year earlier, with a further sharp drop expected this year. It now expects an adjusted 2023 EBITDA loss of $80 million to $90 million compared to the previously communicated range of $90 million to $100 million. Quarterly active consumers fell 24.3% to 2.3 million, largely driven by deliberate decisions to focus on core categories and reduce consumer incentives. Inflation effects persisted in the period, affecting both consumers' spending power and sellers' ability to source goods from abroad, Jumia said.

Persons: Monicah, Jumia, Francis Dufay, Nqobile Dludla, Kirsten Donovan Organizations: Technologies, REUTERS, Rights, Jumia Technologies, New York Stock Exchange, Revenue, Thomson Locations: Africa, Nairobi, Kenya, Rights JOHANNESBURG

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