DIRS.INFO The most relevant business & tech news

☆ A San Francisco neighborhood threw a mini-festival to celebrate a public toilet that cost $200,000 instead of $1.7 million
▼ + stars: | 2024-04-23 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

San Francisco celebrated a new public loo with a mini-carnival complete with games, lemonade, and a live band. The public toilet initially cost $1.7 million with a multi-year deadline but had its price slashed to $200,000. AdvertisementThe scandal over a public toilet in San Francisco that cost $1.7 million has ended in celebration after the new loo opened on Monday with a much-discounted price tag of $200,000. That's according to The New York Times, CBS News, and The San Francisco Chronicle, who sent reporters down to the toilet's launch in the Noe Valley Town Square. AdvertisementCity officials said they were weighed down by high construction costs in San Francisco, as well as the need for environmental reviews and checks from multiple commissions.

Persons: —, Mario, Luigi, Leslie Crawford, Gavin Newsom, Chad Kaufman, Vaughn Buckley, Buckley, San Francisco Mayor London Breed Organizations: Service, The New York Times, CBS News, San Francisco Chronicle, Residents, People, NYT, CBS, SF Chronicle, San, Chronicle, California Gov, Company, San Francisco Mayor London Locations: Francisco, San Francisco, Noe, California, Nevada, Pennsylvania, Kaufman

☆ The 'sandwich generation' faces pressure as the world ages — here are 3 tips to prevent burnout
▼ + stars: | 2024-04-09 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +5 min

"There's this tendency in the welfare state to sort of outsource the elderly care," Jan-Emmanuel De Neve, director of the Wellbeing Research Centre at Oxford University told CNBC Make It. Although home-care for the elderly improves their wellbeing, it can also place pressure on younger generations. The so-called sandwich generation refers to middle-aged people who have elderly parents to care for, as well as their own children who are still dependent on them. The younger generations have to support their elderly parents or grandparents. "This would entail defining one's family value system, setting out personal goals, life aspirations, allocating and committing personal resources," Wong suggested.

Persons: Momo, John Wong, Jan, Emmanuel De Neve, Wong, Jialu Streeter, boomers, Streeter Organizations: WHO, Getty, National University of Singapore's, Science, CNBC, World Health Organization, United Nations, Economic, Oxford University, Loo Lin, of Medicine, NUS, Stanford Institute for Economic, Pew Research, Stanford Institute for Economic Policy Research Locations: Hong Kong, South Korea, Japan

☆ China economy: All-important property market shows no sign of rebound in new year
▼ + stars: | 2024-03-18 | by ( Laura He | ) edition.cnn.com time to read: +4 min

New property sales reached a total of 1.06 trillion yuan ($147 billion) in the first two months of this year, according to data released by the National Bureau of Statistics (NBS) on Monday. The drop also marks a much faster pace of decline from the year-ago period, when new property sales dipped just 0.1%. Property investment fell 9% in the January-to-February period, which was faster than the 5.7% decrease registered during the same period last year. “The correction in property construction is still in its early stages,” Capital Economics analysts said in a research note on Monday. The growth in factory output might be driven by strong exports demand.

Persons: Hong Kong CNN —, “, ”, Louise Loo, ” Loo, Zhiwei Zhang Organizations: Hong Kong CNN, National Bureau of Statistics, Capital, Catering, “, Oxford Economics Locations: China, Hong Kong

☆ China sets GDP target of 'around 5%' for 2024
▼ + stars: | 2024-03-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

BEIJING — China set a growth target of "around 5%" for 2024, according to the "Government Work Report" released Tuesday. The targets for GDP and other economic indicators were published as part of the opening of the National People's Congress annual meeting. The work report emphasized the need to "ensure both high-quality development and greater security," preventing risks and maintaining social stability, among other tasks. The work report said that "internal drivers of development are being built up," but added the country should be "well prepared for all risks and challenges." More than 2,800 delegates attended the opening of the National People's Congress annual meeting in Beijing on Tuesday.

Persons: Li Qiang, Louise Loo Organizations: Economic, National People's, National Bureau of Statistics, Communist Party of China's, National People's Congress, IMF, Oxford Economics Locations: Davos, Switzerland, BEIJING, China, Beijing

☆ Chinese leaders to hold annual 'Two Sessions' meeting as debate about bazooka-like stimulus swirls
▼ + stars: | 2024-03-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Edgar Su | ReutersBEIJING — China is set this week to kick off its annual parliamentary meetings, which investors are watching closely for signals on economic stimulus. China's economic policy is typically set at an annual meeting in December by leaders within the ruling Communist Party of China. GDP and other economic targetsThe Chinese People's Political Consultative Conference, an advisory body, is set to kick off its annual meeting on Monday. "On balance, the additional fiscal impulse this year, assuming a bazooka-like fiscal package is not forthcoming, is unlikely to be particularly large." China's foreign minister and premier typically hold press conferences during the parliamentary meetings, which generally end in mid-March.

Persons: Edgar Su, Wang Jun, Wang, Zong Liang, Louise Loo, Loo, Goldman Sachs, Bank of China's Zong Organizations: of, Initiative, Reuters, Huatai Asset Management, CNBC, Communist Party of China, U.S, Political Consultative Conference, National People's, Oxford Economics, Industry, Information Technology, Science, Technology, Housing, Bank of, Communist Party's, Communist Party of Locations: Beijing, China, Reuters BEIJING, U.S . Federal, RMB3.8tn, Bank of China's

☆ Targeting a 60c 'handle' for the NZD/USD, as the rate could decline: Strategist
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTargeting a 60c 'handle' for the NZD/USD, as the rate could decline: StrategistAlex Loo of TD Securities discusses the New Zealand dollar after a less hawkish than expected Reserve Bank of New Zealand monetary policy decision.

Persons: Alex Loo Organizations: Securities, New Zealand, Bank of New Locations: Bank of New Zealand

☆ China's economy looks like a mess — but some sectors are quietly doing well in its '2-speed economy'
▼ + stars: | 2024-02-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

Meanwhile, its financial markets are bleeding, the property market has gone up in smoke, local government debt appears alarming, and foreign investors are exiting in droves. Real estate — which was a huge part of China's economy — has been hit badly, he said. AdvertisementTravel has picked up after years of pandemic lockdownServices is another pillar of China's economy that Beijing has been trying to build up. AdvertisementThis is in part because new growth industries are not able to take the place of real estate — yet. Because the property market accounts for one-quarter of China's GDP and more than two-thirds of household wealth, its overall drag on China's economy is much greater than whatever is doing well right now.

Persons: —, Rory Green, GlobalData.TS Lombard, AllianceBernstein, John Lin, Lin, Donald Trump's, Louise Loo, Wood Mackenzie, AllianceBerstein's Lin, Nomura, Loo Organizations: Service, Business, Bloomberg TV, Oxford Economics, Nomura, Oxford Locations: China, GlobalData.TS, Real, COVID, Beijing, Europe, Taiwan, South Korea

☆ Raffles Medical: 'We are in China for the long-term' and will expand
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRaffles Medical Group: 'We are in China for the long-term' and will expand operations when confidentLoo Choon Yong, Chairman of Raffles Medical Group discusses the group's financial performance for fiscal year 2023 and business plans for its operations in China.

Persons: Yong Organizations: Raffles Medical, Raffles Medical Group Locations: China

☆ China boosts property funding with first cut in key loan rate since June
▼ + stars: | 2024-02-20 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

China's lenders cut the country's benchmark five-year loan prime rate for the first time since June, extending Beijing's efforts to revive the country's anemic property market. The Chinese central bank kept its one-year loan prime rate — the peg for most household and corporate loans in China — unchanged at 3.45%. The benchmark five-year loan rate — the peg for most mortgages — was cut by 25 basis points to 3.95%, according to a statement Tuesday from the People's Bank of China. This was also the largest one-time cut in the five-year rate and the first since the five-year rate was last trimmed in June by 10 basis points. China calculates its loan prime rates each month after 20 designated commercial lenders submit their proposed rates to the PBOC.

Persons: Louise Loo, Loo, CNBC's Lee Ying Shan Organizations: People's Bank of China, Oxford Economics, Sunday Locations: China, Beijing

☆ I live off the grid in a yurt on land I inherited. There's nothing I miss — life is ridiculously peaceful.
▼ + stars: | 2024-02-07 | by ( Melissa Petro | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on a conversation with Cami Ostman, a 56-year-old writer and writing coach from Shoreline, Washington. She wasn't going to do anything with the land, so she said I could have it. I can think of seven friends in my age range who've bought off-grid land or purchased sprinter vans or RVs. In Seattle, I'm accountable to my students and employees, but when I'm on my land, I leave my work behind. There's nothing I miss when I'm in the yurt — it's so ridiculously peaceful.

Persons: —, Cami Ostman, I'd, she'd, I've, who's, Pam, who've Organizations: Service, Business, Edison Locations: Shoreline , Washington, Seattle, Washington, Bellingham , Washington, Mongolia, Siberia, Turkey, Pacific, Shoreline

☆ A year after bankruptcy concerns, Carvana is leaner and ready for its Wall Street redemption
▼ + stars: | 2024-02-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

Carvana over the last 18 months aggressively restructured its operations and debt amid bankruptcy concerns to pivot from growth to cost-cutting. Carvana puts each vehicle it intends to sell through a lengthy inspection, repair and sale preparation process. A Ford F-150 is prepped for a painting booth at Carvana's vehicle reconditing center outside Phoenix. The Wall Street Journal in December 2021 detailed a network of Garcia companies that do business with DriveTime, Carvana or both. Carvana sells such warranties or other service-related protections to customers, and DriveTime takes them over, giving Carvana a commission.

Persons: Michael Wayland, Ernie Garcia III, Ernie Garcia II, Garcia, Carli, Carvana, There's, Richard, Dick, Nixon, there's, Ernie Garcia, pathing, Rajat Gupta, Doug Guan, we've, CNBC Guan, Coldplay, Neil Diamond, Teresa Aragon, DriveTime, Duckling, Garcia II, Charles Keating's Lincoln, hasn't, – Organizations: CNBC PHOENIX, CNBC, Ford, Ford Motor, Nissan, State, Charles Keating's Lincoln Savings & Loan, Street Journal, DriveTime Locations: Tempe, Ariz, Tempe , Arizona, Phoenix, Carvana, Florida, reconditioning, Silicon Valley, Aragon, DriveTime, Drivetime

☆ China is in 'a bit of a policy pivot,' economist says
▼ + stars: | 2024-01-22 | 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 EmailChina is in 'a bit of a policy pivot,' economist saysLouise Loo, lead China economist at Oxford Economics, says "the easing bias is still there, but we're likely to see different kinds of easing."

Persons: Louise Loo Organizations: China, Oxford Economics Locations: China

☆ I grew up always wanting to drive my own car. But I'm from the world's most expensive city to live in, and now I know I never will.
▼ + stars: | 2024-01-14 | by ( Matthew Loh | ) www.businessinsider.com time to read: +12 min

AdvertisementFor car buyers, the COE is an extra cost that can easily eclipse the actual price of a car. These BMW family cars cost around $103,000 in 2017. COE prices went up to $67,000 that year for lower-end cars, despite more than 13,000 certificates being made available. On Thursday, COE prices for lower-end cars fell to about $48,000, a steep drop that shocked the market. Meanwhile, while unpopular, Singapore's COE prices are working for now.

Persons: —, Mikel Bilbao, Edgar Su, Reuters They've, EDGAR SU, Walter Theseira, Theseira, Singapore's, We've, ROSLAN RAHMAN, we've, Aditya Irawan, it's, they're, Benjamin Loo Organizations: Service, Volvo, Volkswagen, Hyundai, VW, Getty, COE, BMW, Reuters, Toyota Corolla, Singapore University of Social Sciences, ROSLAN RAHMAN Singapore, Yokohama JR Line, The New York Times, Uber, Temasek Holdings, CarTimes, Straits Times Locations: Singapore, European, New York City, Tokyo, Yokohama, New York, Asia, Jakarta, Bangkok, Kuala Lumpur

☆ China's Nov services activity accelerates on boost from new orders - Caixin PMI
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

The findings present a mixed picture of the vast services sector as an official survey last week showed the sector unexpectedly contracted for the first time since December last year, prompting calls for more stimulus measures. "Both services supply and demand expanded, as the market continued to heal," said Wang Zhe, economist at Caixin Insight Group. Analysts say the different survey sizes and composition of surveyed companies might explain the discrepancy between the Caixin and official PMI readings. Caixin/S&P's composite PMI, which includes both manufacturing and services activity, grew to 51.6 from 50.0 in October, marking the strongest reading since August. According to the Caixin services survey, employment fell for the first time since the start of 2023 as some firms maintained a cautious approach to hiring.

Persons: Wang Zhe, Wang, Louise Loo, spender, Loo, Ellen Zhang, Ryan Woo, Shri Navaratnam Organizations: P Global, Caixin Insight, PMI, Oxford, Thomson Locations: BEIJING, October's, China

The holiday season, which begins with Black Friday at the end of November and lasts roughly until the end of December, is expected to be especially tough for retailers selling discretionary items, executives say. "We are seeing some early Black Friday sales start just now," Barbie maker Mattel's (MAT.O) president and chief commercial officer, Steve Totzke, told Reuters on Monday. "The market for toys has been declining for the whole year," said Florian Sieber, CEO of German toy maker Simba. "We are expecting a good holiday season for Mattel," Totzke said. "We expect to continue to gain share throughout the holiday season."

Persons: Peter Nicholls, Larian, Santa Claus, Barbie, Loo, Isaac Larian, Toymakers, Nic Aldridge, Aldridge, Mattel's, Steve Totzke, Florian Sieber, Simba, Sieber, Totzke, Frédérique Tutt, Jerry Storch, Richa Naidu, Matt Scuffham Organizations: REUTERS, Hasbro, Mattel, Consumers, Euromonitor, MGA Entertainment, Toymakers Hasbro, Reuters, Bandai, P, Global, Storch Advisors, Hudson's, Thomson Locations: London, Britain, Europe, Santa, United States, Loo Wee, U.S

"We are seeing some early Black Friday sales start just now," Barbie maker Mattel's (MAT.O) president and chief commercial officer, Steve Totzke, told Reuters on Monday. "The market for toys has been declining for the whole year," said Florian Sieber, CEO of German toy maker Simba. "We are expecting a good holiday season for Mattel," Totzke said. "We expect to continue to gain share throughout the holiday season." "But it's a reality that there won't be as many toys sold this year as last year."

☆ Four Men Charged in the Case of the Missing Golden Toilet
▼ + stars: | 2023-11-06 | by ( Alex Marshall | More About Alex Marshall | ) www.nytimes.com time to read: +1 min

Four years ago, a fully functioning 18-karat gold toilet was stolen from an art exhibition at Blenheim Palace, the birthplace of Winston Churchill. On Monday, Britain’s Crown Prosecution Service announced that it had authorized charges against four men in connection with the theft of the golden loo — an artwork by the Italian conceptual artist Maurizio Cattelan, titled “America,” which had been on display as part of an exhibition at the palace, which is in Oxfordshire, England. The Crown Prosecution Service said in a news release that it had charged James Sheen, 39, with burglary, conspiracy to transfer criminal property and transferring criminal property; Michael Jones, 38, with burglary; and Fred Doe, 35, and Bora Guccuk, 39, with conspiracy to transfer criminal property. The four men will appear at a court in Oxford, England, on Nov. 28 for the first stage in potentially lengthy criminal proceedings. Britain’s courts system has a severe backlog in cases.

Persons: Winston Churchill, Maurizio Cattelan, James Sheen, Michael Jones, Fred Doe, Bora Guccuk Organizations: Prosecution Service, Crown Prosecution Service Locations: Blenheim, Italian, Oxfordshire, England, Oxford

☆ Design revealed for space toilet with a view
▼ + stars: | 2023-10-31 | by ( Francesca Street | ) edition.cnn.com time to read: +4 min

CNN —A restroom with an out-of-this-world view could be the surprise highlight for travelers adventuring with space tourism start-up Space Perspective. “Why not have a loo with a view?” Jane Poynter, Space Perspective“That’s why the toilet seat itself has a cushion, so you can sit there,” adds Poynter. And trips to the “edge of space” – like those proposed by Space Perspective and Zephalto – are different again. Space Perspective hopes to start transporting groups of up to eight passengers on flights by the end of 2024. Space Perspective intends to start tests fights imminently.

Persons: Jane Poynter, Poynter, ” Poynter, Dan, Isabella Trani, It’s, there’s, ” Jane Poynter, ”, Poynter –, Dennis Tito Organizations: CNN, CNN Travel, SpaceX, Virgin Galactic, Michelin, Space, US Federal Aviation Administration, FAA, US Coast Guard, “ Locations: Florida, British

ON TRACK FOR GOVT GDP TARGETThe recovery momentum suggests the government's full year 2023 growth target of around 5.0% is likely to be achieved. The key issue is what growth target the government will set and how much fiscal easing will take place." The statistics bureau said China would be able to hit the 2023 growth target if the fourth quarter growth tops 4.4%. Moody's Analytics has also raised its 2023 growth projection to 5% from 4.9%. The faltering property sector has hit some of the biggest developers in the country.

Persons: Matt Simpson, Zhiwei Zhang, Tingshu Wang, Frederic Neumann, Louise Loo, Ellen Zhang, Joe Cash, Kevin Yao, Shri Navaratnam Organizations: Gross, National Bureau, Statistics, Reuters, Index, New, REUTERS, Nomura, JPMorgan, Analysts, Country Garden Holdings, HK, Global Research, HSBC, Oxford Economics, Monetary Fund, Thomson Locations: BEIJING, Brisbane, U.S, Beijing, China, New Zealand, Asia

☆ One sector in China is beating the slowdown — 3 stocks to play it including one with 80% upside
▼ + stars: | 2023-10-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

After Beijing cracked down on real estate developers' high debt levels, banks and other financial institutions drastically pulled back on lending to those companies. Meanwhile, China's latest development plans have emphasized advanced manufacturing — production of goods of higher value than apparel and other lower-cost goods Chinese factories have been known for. But analysts increasingly realize that the high-growth days of real estate are over, weighing further o n the economy in the near term. Oxford Economics expects the economy to slow to a 4.4% pace in 2024 and 4.0% in 2025, dragged down by real estate. China is set to release third-quarter GDP, retail sales, industrial production and fixed asset investment on Wed., Oct. 18.

Persons: That's, hasn't, Banks, Gill, Kharas, Louise Loo, Loo, Brian Tycangco Organizations: People's Bank of China, Oxford, Stansberry Research, HSBC, World, Network Locations: China, Beijing, Oxford, Friday's

☆ 10 things I wish I knew before I moved from New York to London
▼ + stars: | 2023-09-29 | by ( Kim Davis | ) edition.cnn.com time to read: +13 min

CNN —It’s been nearly 20 years since I moved from New York to London. I don’t drink alcohol, so, when I first moved to the UK, I avoided the pubs for about a year. To my great surprise, I discovered that British pubs were nothing like I had imagined! “Yeah?” “Yeah!!!!! According to the UK Tea and Infusions Association, Brits drink over 100 million cups daily and 36 billion cups per year!

Persons: CNN — It’s, Leicester, Kim Davis, breathlessly, I’m, “, ”, I’ve, mickey ”, Sheldon Cooper, don’t, Hershey, et Walker, Eliza Doolittle, Little, it’s, Ariel, ” Don’t, There’s, Parinya, Abbott, Costello “ Who’s, Tummy, Mason, You’ll Organizations: CNN, Brit, British, Harrods, LIPTON Locations: New York, London, United States, United Kingdom, Yorkshire, Britain, Europe, “, America, York, Darjeeling, Assam, Ceylon

☆ Singapore c.bank bars 3AC founders from market activity
▼ + stars: | 2023-09-14 | by ( Chen Lin | ) www.reuters.com time to read: +1 min

A view of the Monetary Authority of Singapore's headquarters in Singapore June 28, 2017. REUTERS/Darren Whiteside/File Photo Acquire Licensing RightsSINGAPORE, Sept 14 (Reuters) - Singapore's central bank said on Thursday it has barred the founders of bankrupt cryptocurrency hedge fund Three Arrows Capital (3AC) from market activity in the city-state for nine years. The Monetary Authority of Singapore (MAS) said in a statement it had issued orders, which, effective from Sept 13, prohibit 3AC founder Zhu Su and Kyle Livingston Davies from performing any regulated activity and from managing any capital market services firms in Singapore. "Senior management of fund managers are required to implement robust risk management measures to protect the interest of investors," Loo Siew Yee, MAS Assistant Managing Director said. Representatives for Zhu and Davies could not immediately be reached for comment.

Persons: Darren Whiteside, cryptocurrencies Luna, TerraUSD, Zhu Su, Kyle Livingston Davies, Loo Siew Yee, Zhu, Davies, Kanupriya Kapoor Organizations: Monetary Authority, REUTERS, Rights, Arrows, British Virgin Islands, Monetary Authority of Singapore, MAS, Thomson Locations: Singapore, Rights SINGAPORE, British Virgin

☆ Weak import and export data from China will immediately impact stocks, says Oxford Economics
▼ + stars: | 2023-09-07 | 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 EmailWeak import and export data from China will immediately impact stocks, says Oxford EconomicsLouise Loo, Lead China Economist at Oxford Economics, discusses the latest China import and export data.

Persons: Louise Loo Organizations: Oxford, China, Oxford Economics Locations: China

☆ China’s Exports Fall for Fourth Straight Month
▼ + stars: | 2023-09-06 | by ( Keith Bradsher | More About Keith Bradsher | ) www.nytimes.com time to read: +2 min

A Reuters survey forecast that exports had fallen 9.2 percent in August from a year earlier, and that imports had dropped 9 percent. Many had stocked up on manufactured goods during the pandemic, often from China, which has by far the world’s largest factory sector. Why It MattersExport and import statistics provide one of the early indications each month of how the Chinese economy fared in the preceding month. The data released on Thursday was the latest sign that overall demand for China’s goods may have begun to bottom out. While China’s exports have been weak this year, they are coming down from a very high level achieved during the pandemic.

Persons: ”, Louise Loo Organizations: Reuters, Export, Oxford Economics, “ Locations: United States, China, Shanghai, Shenzhen, Guangzhou, Singapore, Europe, Asia

However, in a hopeful sign for growth, conditions did not materially worsen even though the survey showed factories under persistent pressure. China's major manufacturing rivals in the region Japan and South Korea also reported sharp declines in output on Thursday. "It's too early to tell, but today's print suggests that a sequential uptick in growth activity in the third quarter could still be possible," said Louise Loo, senior economist with Oxford Economics. Policymakers remain under pressure to boost domestic demand as the global economy continues to slow. Going forward, "the actual implementation and effectiveness of policy support will be the key indicator to watch," he added.

Persons: It's, Louise Loo, Pan Gongsheng, Frederic Neumann, Bruce Pang, Jones Lang Lasalle, Joe Cash, Qiaoyi Li, Ellen Zhang, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, PMI, Oxford Economics, Reuters, People's Bank of, Global Research Asia, HSBC, Jones, Thomson Locations: Hangzhou, Zhejiang province, China, Rights BEIJING, Japan, South Korea, People's Bank of China, United States, Europe, Asia

Search resuls for: "Loo"

25 mentions found