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☆ Citi upgrades India to 'overweight' citing stable earnings, economic growth
▼ + stars: | 2024-05-11 | by ( ) www.cnbc.com time to read: +2 min

Citigroup analysts upgraded India to "overweight" from "neutral" in their emerging markets allocation on Friday, citing strong earnings and economic growth momentum. It also attributed India's one-year forward price-to-earnings (P/E) of 20x, which is slightly higher than the long-term averages, to a stable earnings trajectory. The brokerage remains "overweight" on India's banks, insurers, public sector enterprises, autos and capital goods companies among others. Citi downgraded China to "neutral" from "overweight", saying the recent rally in its stock markets occurred despite weakening fundamentals. Citi reiterated its "overweight" rating on Taiwan and Korea, maintaining "underweight" on Latin American countries.

Persons: Surendra Goyal Organizations: Hong, Citigroup, Citi, Jefferies, Asia Locations: India, China, Asia Pacific, Japan, Taiwan, Korea

☆ An American soldier went missing in the Korean War. How his late mother’s faith he’d come home has finally been realized
▼ + stars: | 2024-05-11 | by ( Kaila Nichols | Brammhi Balarajan | ) edition.cnn.com time to read: +6 min

With limited logistics and no hope of reinforcement, 30,000 UN soldiers faced over 120,000 Chinese troops in a battle considered one of the most brutal of the Korean War. A lack of proof and a mother’s faithSoon after the war, the opposing nations embarked on Operation Glory, a 1954 exchange of thousands of sets of remains of Korean War dead. Spruell’s name also was recorded, it said, at the cemetery’s Courts of the Missing, where the names of 8,210 Americans lost in the Korean War were listed when it was dedicated in 1966. But the brother rarely spoke of the young man last seen halfway around the world near the Chosin Reservoir, said another one of his children, Dennis Spruell. More recently, it called Dennis Spruell with the news.

Persons: Cpl, John Albert Spruell, 7th Infantry Division –, Spruell, Spruell’s, Pauline Sleeper, ”, –, Dennis Spruell, ” Dennis Spruell, “, Sleeper, Dennis ’, Donna Lee Bailey, John Spruell, John A, Bailey, “ he’s, Charles Haley, Spruell didn’t, Haley, James Bell, John Spruell’s, ” Bailey, son’s, “ They’re Organizations: CNN, UN, 57th Field Artillery Battalion, 7th Infantry Division, Army, Operation, 57th Field Artillery, US Defense Department’s Defense POW, Agency, Memorial, of, Defense POW, Punchbowl, Spruell Defense POW, Army Mortuary Locations: Cortez , Colorado, Hagaru, Colorado, Cortez, Korean, Honolulu, cemetery’s, Korea, Japan

☆ A couple who moved 15 times in 25 years says Taiwan was the best place for their finances but moving so often took a toll
▼ + stars: | 2024-05-11 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Read previewBecky Martin and her husband, Craig Schmidt, recently set a record as a couple: They've lived in the same place for nearly five years. In the roughly 25 years they've been together, they've moved 15 different times across Canada and Taiwan, Martin, 45, told Business Insider via email. An old college roommate of Martin's had moved to Taiwan and recommended she do the same to take advantage of the country's lower cost-of-living. Several moves and over two decades later, Martin said relocating so often took a significant toll on their finances. Moving to Taiwan was great for their finances — but came with downsidesMoving to Taiwan helped the couple pay off debt, but being far from Canada came with some challenges.

Persons: —, Becky Martin, Craig Schmidt, They've, they've, Martin, It's, Martin's, they're, Schmidt, Becky Martin Martin, Kitchener, Craig Organizations: Service, Business Locations: Canada, Taiwan, Burlington , Ontario, Asia, Stratford , Ontario, Kitchener, Toronto, Japan, South Korea, Singapore, China, Philippines, Thailand, Vietnam, Malaysia, India

☆ Japan aging: Women’s participation in ‘naked festival’ a sign of how aging is forcing changes to male-centric traditions
▼ + stars: | 2024-05-10 | by ( Himari Semans | Chris Lau | ) edition.cnn.com time to read: +8 min

Tokyo/Hong Kong CNN —With a history spanning more than 1,200 years, “hadaka matsuri,” or the naked festival, is Japanese masculinity on full display. Some women in Japan still battle deep-rooted cultural expectations that require them to take the role of “shufu,” or housewife, experts say. But in the naked festival, women have recently found hope. Men strip naked — except for a delicate piece of crotch-covering white loincloth — to take part in the naked festival at Konomiya Shrine on February 22, 2024. Women — donning happi, a traditional festive coat — are responsible for carrying a bamboo offering during the naked festival at Konomiya Shrine on February 22, 2024.

Persons: —, Saudi Arabia —, “, Christopher Gallagher, ”, we’ve, ” Haruhiko, Atsuko Tamakoshi, Chris Gallagher, Enyukai, Ayaka Suzuki, Mitsuko Tottori, Yoko Kamikawa, Fumio, Kaori Katada, Hiyori Kon, Sumo, won’t Organizations: Hong Kong CNN, Economic, Japan, Reuters, Mikiko, Hosei University, pre, CNN, ”, Ministry of Health, ” Eto, Organization for Economic Cooperation, Development, Japan Airlines, Netflix, Little Locations: Tokyo, Hong Kong, Japan, jostle, Germany, Britain, United States, India, Saudi Arabia, Konomiya Shrine, Konomiya

☆ Taylor Swift changed The Eras Tour set list to include 'The Tortured Poets Department.' Here are all 46 songs she performs now.
▼ + stars: | 2024-05-10 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +1 min

Read previewTaylor Swift is back on the road for her record-breaking, economy-altering Eras Tour. This story is available exclusively to Business Insider subscribers. On Thursday, Swift resumed The Eras Tour in France after a multi-week hiatus. During that break, Swift released her 11th studio album, "The Tortured Poets Department" — so she adjusted the original 44-song set list to include brand new tracks, though other fan favorites (including "The Archer," "The 1," and "Tolerate It") were cut for time. The complete set list is cataloged below, in order of Swift's performance.

Persons: —, Taylor Swift, Swift, Archer Organizations: Service, Business, Department Locations: Glendale , Arizona, Mexico, South America, Japan, Australia, Singapore, Europe, American, France

☆ Dollar nurses losses after another set of soft jobs data
▼ + stars: | 2024-05-10 | by ( ) www.cnbc.com time to read: +4 min

Against the Japanese yen, the dollar was trading at 155.39 yen , down from highs of 155.95 hit in the previous session. The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, was flat at 105.25. "We note jobless claims are weekly data that can be very volatile from week to week," Commonwealth Bank of Australia's Joseph Capurso, said in a note. "The BoE's urgency and willingness to cut ahead of the Fed will continue to weigh on the currency," Goh said. Being added to the list makes it harder for U.S. suppliers to ship to the targeted entities.

Persons: Commonwealth Bank of Australia's Joseph Capurso, Shunichi Suzuki, Rong Ren Goh, Sterling, BoE, Goh Organizations: U.S, Federal Reserve, dovish Bank of England, Commonwealth Bank of Australia's, Tokyo, Japan's Finance, Eastspring Investments, Bank of England, Monetary, Committee, Fed, Treasury, Traders, PPI, Federal Locations: U.S, United States

☆ Japan stocks lead gains in Asia markets as renewed rate cut hopes lift sentiment
▼ + stars: | 2024-05-10 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Cherry trees in bloom near the Nippon Budokan in Tokyo, Japan, on Sunday, April 7, 2024. Bloomberg | Bloomberg | Getty ImagesJapan led gains in Asia-Pacific markets on Friday after stronger-than-expected, year-on-year consumer spending data, and as renewed rate cut hopes by the U.S. Federal Reserve bolster market sentiment. Japan's overall household spending in March fell 1.2% year on year, less than the 2.4% expected by a Reuters poll of economists. However, on a month-on-month basis, household spending rose 1.2%, compared with estimates of a 0.3% drop. Should the index reach the futures level, it would be its highest in about nine months.

Persons: Cherry, Kospi Organizations: Nippon Budokan, Bloomberg, Getty Images Japan, U.S . Federal Reserve, Nikkei Locations: Tokyo, Japan, Asia, Pacific

☆ Blue Zones researcher shares 2 cheap, 'revolutionary supplements' you can find in any grocery store
▼ + stars: | 2024-05-09 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +5 min

In those regions, he has found two cheap grocery store items that are a staple of many people's diets: Walnuts and beans. Related storiesBeans are hearty, cheap, protein-rich, belly-filling foods that people living in many of the world's longevity hotspots prioritize at almost every meal. Olive oil is also a science-backed addition to your dietBloomberg Creative/Getty Images"What about olive oil?" Behind the hype, there's good research backing up the benefits of regular olive oil consumption. "Olive oil shots!"

Persons: —, Peter Diamandis, Dan Buettner, Buettner, Nico Schnico, Michael Pollan, Diamandis, Bryan Johnson, there's Organizations: Service, Milken Institute Globel Conference, Business, Bloomberg, Blue Locations: Beverly Hills, Japan, Sweden, Greece, Australia, Loma Linda , California

We've got you covered if you're looking for how to get tickets to Fujii Kaze's U.S. concert tour. Fujii Kaze 2024 tour scheduleFujii Kaze's U.S. tour only consists of four concert dates, which resulted from adding two additional shows to the tour's original number. As such, the only way to buy tickets for Fujii Kaze's 2024 US tour is through verified resale ticket vendors. How much are Fujii Kaze tickets? After performing four concerts in the United States, Fujii Kaze will continue his 2024 tour with two additional international shows.

Persons: Fujii, Fujii Kaze's, We've, Fujii Kaze hasn't, It's Organizations: Business, United Theater, Apollo, Netflix, Piano US, Ticketmaster, Piano, Vivid, showtime, Nissan Locations: United States, U.S, Los Angeles, New York City, CA, York City, NY, Los Angeles , CA, New York City , NY, California, Japan

☆ I worked remotely from a cruise ship for almost a month and it was hard but I'm doing it again
▼ + stars: | 2024-05-09 | by ( Jamie Killin | ) www.businessinsider.com time to read: +5 min

Tony Fernandes, CEO of UEGroup, managed his company from a cruise ship for 21 days. AdvertisementThis as-told-to essay is based on a conversation with Tony Fernandes, a 60-year-old founder and CEO of UEGroup based in San Francisco, about his experience working remotely on a cruise ship. In November, I embarked on a trip where I spent several weeks leading my company from a cruise ship with my wife. Expect very slow internet serviceOne thing I didn't realize prior to the trip was that the cruise ship had only one satellite connection shared by thousands of people. If you live or work on a cruise ship and would like to share your story, please email mlogan@businessinsider.com.

Persons: Tony Fernandes, Fernandes, —, It's, We're, You've Organizations: Service Locations: San Francisco, Europe, Singapore, Thailand, Malaysia, Japan, Portugal, California

Seoul, South Korea CNN —South Korea’s leader on Thursday said he plans to create a new government ministry to tackle the “national emergency” of the country’s infamously low birth rate as it grapples with a deepening demographic crisis. In a televised address, President Yoon Suk Yeol said he would ask for parliament’s cooperation to establish the Ministry of Low Birth Rate Counter-planning. “We will mobilize all of the nation’s capabilities to overcome the low birth rate, which can be considered a national emergency,” he said. South Korean President Yoon Suk Yeol at a press conference in Seoul, South Korea, on, May 9, 2024. Countries like South Korea, Japan and China, however, have shied away from mass immigration to tackle the decline in their working age populations.

Persons: Yoon Suk Yeol, Yoon, Yoon Suk, Kyung, Fumio Kishida Organizations: South Korea CNN, of, South, AP, Korea, Families Agency Locations: Seoul, South Korea, Korea, Japan, China

☆ Japan not seeking a strong yen but a stable currency, David Roche says
▼ + stars: | 2024-05-09 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

Japan is not seeking a strong yen but rather aiming for a relatively stable currency, according to veteran investor David Roche. The Japanese yen has been on a roller coaster ride, with the currency breaking past 160 against the greenback last week — steepest decline in more than three decades. "The Japanese are not aiming at a particularly strong yen. Japan could not "possibly speak to have policy that really results in a strong yen unless they tighten monetary policy," Roche said, adding that it would involve raising interest rates by at least 50 basis points and allowing "unsterilized intervention" of the yen. As far as I can see from the statistics, they've [Bank of Japan] done nothing like that," Roche noted.

Persons: David Roche, Roche, CNBC's Organizations: greenback, Independent, Bank of Japan, Bank of Locations: Japan, Bank of Japan

☆ Pasco Japan: Rat parts found in sliced white bread, sparking recall
▼ + stars: | 2024-05-09 | by ( Chris Lau | Himari Semans | ) edition.cnn.com time to read: +3 min

Tokyo CNN —A major Japanese food supplier has recalled more than 100,000 packs of a popular brand of sliced white bread after rat parts were found inside some loaves. They were found in a batch of white “chojuku” bread — or super fermented bread, known for its extra chewy texture — manufactured by a factory based in western Tokyo prefecture, according to the company. White bread is a staple for many Japanese people when they feel like a Western-style meal, or “yoshoku,” as an alternative to traditional Japanese food. Founded in 1920, Pasco is a major supplier of baked goods that employs more than 3,700 staff at 12 factories across the country. The 15-second commercial, released months ago, features a family excitingly declaring their love of good toast as breakfast, accompanied by a voice-over saying: “We put nothing unnecessary in it.”“⁠I love chojuku bread.

Persons: Warabeya Nichiyo, ” Organizations: Tokyo CNN, Pasco Shikishima Corporation, CNN, Kobayashi Pharmaceutical, Warabeya, Reuters Locations: Pasco, “, Tokyo, Japan, Saitama

☆ The US can do one big thing to weaken the dollar and put pressure on China
▼ + stars: | 2024-05-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The US could use a simple tool to strategically weaken the US dollar for economic gains. A reduction in the federal deficit would help tame inflation and weaken the US dollar. AdvertisementThat's why a weakening US dollar is music to the ears of American corporations, trade partners, and policymakers. That agreement devalued the US dollar, stabilized trade with Japan, and helped reduce the US trade deficit. A balanced Federal budget would help them achieve that scenario without putting the economy at risk.

Persons: —, It's, isn't, Donald Trump Organizations: Service, Swiss, America's, China, Accord Locations: Europe, China, Japan, Asia

☆ Asia markets mixed ahead of China trade data and Japan pay figures
▼ + stars: | 2024-05-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Yaorusheng | Moment | Getty ImagesAsia-Pacific markets were mixed ahead of China's April trade data, as well as pay statistics from Japan. Economists polled by Reuters are expecting a 1.5% rise in China's exports, a reversal from the 7.5% fall in March. Imports are also expected to grow 4.8% year-on-year in April, compared with a 1.9% fall in March. Separately, investors will assess pay statistics from Japan as they look for any signs of the "virtuous cycle" of increasing wages and prices envisioned by the Bank of Japan. Futures for Hong Kong's Hang Seng index stood at 18,277, pointing to a weaker open compared to the HSI's close of 18,313.86.

Persons: Korea's Kospi Organizations: Reuters, Bank of Japan, Japan's Nikkei Locations: Shanghai, Asia, Pacific, Japan

☆ Dollar holds its ground as key inflation data looms
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: +2 min

U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on Dec. 15, 2023. Against the Japanese yen, the dollar slowly inched up after it fell more than 3% last week, its biggest weekly percentage drop since early December 2022. Japan's top currency diplomat Masato Kanda on Thursday reiterated a warning that Tokyo is ready to take action in the currency market. The dollar index rose to 0.05% to 105.55, while the Japanese yen was mostly flat at 155.59 per greenback. The BOE is likely to take another step towards its first interest rate cut in four years as inflation falls.

Persons: Masafumi Yamamoto, Masato Kanda, Susan Collins, Sterling, BOE, bitcoin Organizations: Federal Reserve, Bank of, Mizuho Securities, Traders, PPI, Fed Bank of Boston, European Central Bank Locations: Buenos Aires, Argentina, Japan, U.S, United States, Tokyo, —

☆ Japanese store near Mount Fuji issues apology in response to overtourism
▼ + stars: | 2024-05-08 | by ( Lilit Marcus | ) edition.cnn.com time to read: +4 min

Lawson’s, one of Japan’s largest convenience store chains, has an outpost in the small town of Fujikawaguchiko. Tourists have flooded into Fujikawaguchiko to take one specific picture – a shot of Mount Fuji behind a Lawson’s store, where the mountain’s classic elegance contrasts with the store’s modern neon signage. Although Lawson’s has not encouraged visitors to take pictures of their store, the company nevertheless issued a statement addressing the issue on May 5. Many of them headed to the same destinations, crowding Kyoto’s narrow streets and the walking trails of Mount Fuji. And Lawson’s is not the only Japanese tourist destination that has resorted to putting up signs warning visitors of bad behaviors.

Persons: Fuji –, Lawson’s, Lawson, –, overtourism, Fujikawaguchiko, Semans Organizations: CNN, Fuji, Mount Fuji, ”, Mount, UNESCO Locations: Fujikawaguchiko, Yamanashi prefecture, –, Japan, Mount, Yamanashi

☆ I don't see the science of the argument that Japan's corporate governance has improved: Strategist
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI don't see the science of the argument that Japan's corporate governance has improved: StrategistGarry Evans from BCA Research shares his contrarian view on investing in Japanese stocks.

Persons: Garry Evans Organizations: BCA Research

DavidCallanAsia-Pacific markets are mixed on Wednesday, mirroring moves in Wall Street's Tuesday session. Investors in the region will parse through earnings reports including those of Japanese giants Toyota and Mitsubishi, as well as Singapore's UOB. Traders will also brace for key economic data out of China and Japan on Thursday, with China releasing its April trade data and Japan announcing its March pay statistics. Japan's Nikkei 225 slipped 0.33% on its open, while the broad based Topix was down 0.3%. South Korea's Kospi extended gains and rose 0.1% after leading Asian markets on Tuesday.

Persons: HSI Organizations: Toyota, Mitsubishi, Traders, Nikkei Locations: DavidCallan Asia, Pacific, Wall, China, Japan

☆ Structural labor shortages in Japan could be a 'game changer': Nikko AM
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStructural labor shortages in Japan could be a 'game changer': Nikko AMNaomi Fink of Nikko Asset Management says household participation in Japan's domestic recovery is not likely to occur until real wages start to rise.

Persons: Naomi Fink Organizations: Nikko Asset Management Locations: Japan, Nikko

☆ I've been to over 100 countries. I want to go back to these 5 — including one travelers are really sleeping on.
▼ + stars: | 2024-05-08 | by ( Abbie Synan | ) www.businessinsider.com time to read: +1 min

I've been to over 100 countries, and I have five in mind I'd love to revisit. Oman is underrated and Georgia is such a special place I've been there multiple times. AdvertisementOnce you've visited over half of the world's countries, the urge to travel to every nation slowly starts to take hold of your itinerary. Here are the five countries I'd revisit in a heartbeat — and that I'd recommend to anyone planning their next trip. Surprisingly enough, none of my picks have cracked the top 10 for the most visited countries this year so far — so you may also be able to avoid summer crowds by checking them out.

Persons: I've, —, you've Organizations: Service Locations: Oman, Georgia, Japan, Brazil

The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. Analysts have said that any intervention from Tokyo would only serve as a temporary respite for the yen, given stark interest rate differentials between the U.S. and Japan remain. Analysts expect the central bank to leave the door open to lower interest rates as early as June. The Australian dollar fell 0.2% to $0.6585, pressured in part by a less hawkish outlook from the Reserve Bank of Australia than anticipated after it held interest rates steady on Tuesday.

Persons: Kazuo Ueda, Shunichi Suzuki, they'll, Carol Kong, Neel Kashkari, Kashkari, Rodrigo Catril Organizations: Federal, U.S, Bank of Japan, country's Finance, Commonwealth Bank of Australia, New Zealand, greenback, Minneapolis, Minneapolis Fed, National Australia Bank, Bank of, Reserve Bank of Australia Locations: Tokyo, Beijing, Japan, Bank, U.S, Minneapolis

☆ Opinion: Russia can lose this war
▼ + stars: | 2024-05-08 | by ( Opinion Timothy Snyder | ) edition.cnn.com time to read: +6 min

And far too many of us, during Russia’s war of aggression in Ukraine, have believed that. Of its three most consequential foreign wars, the Red Army lost two. And the Russian army of today is not the Red Army. It was disproportionately Ukrainians who fought their war to Berlin in the uniform of the Red Army. Russia can lose this war, and should, for the sake of Russians themselves.

Persons: Timothy Snyder, Richard C, Levin, “, ”, Read, Leonid Brezhnev, Putin, Alexander Nemenov, Brezhnev, Vladimir Putin, Robert Nickelsberg Organizations: Global Affairs, Yale University, CNN, Russia, Getty, Red, Red Army, Soviet, Lease, Russian Empire, Russo, Fascism Locations: Nazi Germany, Russia, Ukraine, AFP, Poland, Afghanistan, USSR, Soviet Ukraine, Berlin, United States, Russian, Crimean, Japanese, Europe, Pacific, Kabul, Soviet Union, Crimea, Japan, Soviet, Ukrainian

"The Fed is the central bank most able to chart its own course," Citi economist Andrew Hollenhorst said in a client note Wednesday. It was the first time the Riksbank had cut since 2016 and takes its main policy rate down to 3.75%. The Riksbank's move was the second central bank cut of the year, as the Swiss National Bank reduced its key rate a quarter point in March in what was seen as a surprise action. Reductions from the Bank of England and European Central Bank are expected to come next, possibly within a month. "With the exception of Japan, developed markets are embarking on a program of rate cuts," Hollenhorst said.

Persons: Andrew Hollenhorst, BOE, Mark, Bailey, Citi's Hollenhorst, Christine Lagarde, CNBC's Sara Eisen, Lagarde, Hollenhorst Organizations: U.S . Federal, Citigroup, Citi, Sweden's, Swiss National Bank, Bank of England, European Central Bank, Bank of America Locations: U.S, Japan

☆ Japan's yakuza — once powerful organized crime figures — are reduced to stealing Pokémon cards
▼ + stars: | 2024-05-08 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +1 min

Tokyo police arrested a yakuza boss, accusing him of stealing Pokémon cards. Anti-gang laws and lower profits have made yakuza membership less appealing to younger Japanese. AdvertisementTokyo Metropolitan Police last week arrested an executive of the Takinogawa gang, a faction of Japan's second-most powerful organized crime syndicate — the Sumiyoshi-kai. Police accuse him of stealing Pokémon cards. Yakuza are members of organized crime syndicates, the Japanese equivalents of gangsters or mafiosos.

Persons: — Organizations: Tokyo, Service, Police, Business Locations: Tokyo

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