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☆ Live updates: Israel-Hamas war in Gaza, ICC seeks warrants for Netanyahu and Hamas leaders
▼ + stars: | 2024-05-21 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +1 min

An exterior view of the International Criminal Court in The Hague, Netherlands, on December 6, 2022. Peter Dejong/AP/FileUS President Joe Biden slammed the International Criminal Court's efforts to seek arrest warrants on charges of war crimes for Israeli Prime Minister Benjamin Netanyahu, his defense minister and three Hamas leaders. “It's clear Israel wants to do all it can to ensure civilian protection. Let me be clear, what’s happening is not genocide,” Biden said. France broke from its Western allies — including the US, UK and Italy — to express support for the ICC.

Persons: Peter Dejong, Joe Biden, Benjamin Netanyahu, “, ” Biden, Karim Khan, Italy — Organizations: Criminal, US, Republican, ICC Locations: The Hague, Netherlands, Israel, France, Italy

☆ Dollar steady; ether fuels crypto rally
▼ + stars: | 2024-05-21 | by ( ) www.cnbc.com time to read: +3 min

Cryptocurrencies rallied, led by a surge in ether on growing anticipation of an impending approval of spot ether exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). Against the yen , the dollar rose 0.07% to 156.37 in the early Asian session. However, the still-stark interest rate differentials between the U.S. and Japan maintained the appeal of the yen as a funding currency. Still, the cautious Fed rhetoric has so far done little to significantly alter the market pricing for rate cuts, with investors betting on two cuts this year beginning September. Analysts said the latest crypto rally came on the back of speculation that an approval of spot ether ETFs by the U.S. SEC could be imminent, following in the footsteps of the listing of bitcoin ETFs earlier this year.

Persons: Cryptocurrencies, Carol Kong, Bitcoin, Tony Sycamore Organizations: U.S . Securities, Exchange Commission, SEC, U.S, Commonwealth Bank of Australia, New Zealand, Reserve Bank of Australia's, IG Locations: Japan

☆ Think Bhutan’s $100 daily tourism fee is pricey? It could go even higher, says prime minister
▼ + stars: | 2024-05-21 | by ( Monica Pitrelli | Penny Sadler | ) www.cnbc.com time to read: +2 min

Bhutan may reconsider its controversial $100 daily tourism fees if the country's tourism industry recovers soon, Bhutan's Prime Minister Tshering Tobgay told CNBC on May 10. Bhutan reopened its borders in September 2022 with an increased "Sustainable Development Fee" of $200 per person per day in place. Indian travelers pay a reduced fee of 1,200 Bhutanese ngultrum ($14.50) per night, and daytrippers from India are exempt from the fee, according to Bhutan's Department of Immigration. The rate often included hotel, transportation and tour guide costs, and the mandatory $65 Sustainable Development Fee. Now, those costs are in addition to the $100 Sustainable Development Fee.

Persons: Tshering Tobgay, Tobgay, Tobgay's Organizations: Bhutan's, CNBC, Bhutan's Department of Immigration, Tourism, of Bhutan, Tobgay's People's Democratic Party . Locations: Bhutan, Asia, India, daytrippers

☆ Tesla Fremont factory suffers another fire, investigation underway
▼ + stars: | 2024-05-21 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

An aerial view of the Tesla Fremont Factory on April 24, 2024 in Fremont, California. A fire broke out at Tesla 's vehicle assembly plant in Fremont, California on Monday afternoon, according to a statement from the Fremont Fire Department, posted on social network X. The Fremont factory is Tesla's first mass EV manufacturing facility. On May 17, 2024 Tesla celebrated a milestone for its Fremont factory in conjunction with their battery factory outside of Reno, Nevada, saying they had surpassed production of 3 million vehicles. Fires at the Fremont factory in the past have sometimes necessitated a pause in production.

Persons: Tesla, Tesla's Fremont Organizations: Tesla Fremont Factory, Fremont Fire Department, Elon, Fremont, Environmental Health, Safety, California Employment, Bay, Air Quality Management, CNBC Locations: Fremont , California, Fremont, Reno , Nevada, California, Tesla's, Alameda County

The “Code 9.2” drone unit, from the 92nd assault brigade, are moving into a new launch position from where they are about to conduct a rare and potent mission: flying drones into Russia and dropping mines onto key roads inside enemy territory. It is only when the dark has set in that their work can begin. Before operators Andrey and Artem can leave the bunker to begin work, a noise sends them rushing back in for cover. It is only when the dark has set in that the work of Ukrainian drone unit 'Code 9.2' can begin. Artem and Andrey race to attach the mines to the drone, using only red lights.

Persons: Andrey, Artem, “, ” Andrey hisses, ”, Vladimir Putin, Brice Lainé, Ukraine’s, Sasha, Volodymyr Zelensky –, – Organizations: Ukraine CNN, 92nd, CNN Locations: Russian, Kharkiv region, Ukraine, Russia, Belgorod, Kharkiv, Bakhmut, Ukrainian, Donetsk, –, “, Moscow

☆ It's so tough to pay cash in China that the government had to fine a KFC for not accepting banknotes
▼ + stars: | 2024-05-21 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

China has mandated that local businesses leave the door open for cash payments as it tries to attract foreign investment and tourism after the pandemic. AdvertisementHungry for foreign business, China has rushed to bridge the gap. Major payment platforms Alipay and WePay started allowing visitors to link their international bank cards to their Chinese accounts. It's illegal in China to reject cash for purchases, and the central government's crackdown has intensified in the last several years. Investor relations for Yum China, which operates KFC in China, did not immediately respond to a request for comment sent by Business Insider.

Persons: —, WePay Organizations: Service, KFC, People's Bank of China, Business, China Post, New China Life Insurance, PICC, Regulators, Yum Locations: Beijing, Wuxi, Jiangsu, Mongolia, China, Gansu, New, Shanghai, Tourism, Yum China

☆ Elon Musk is mourning the loss of Red Lobster too
▼ + stars: | 2024-05-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Red Lobster filed for bankruptcy on Sunday and Elon Musk is sad to see them go. I have some fond memories from a long time ago of eating at Red Lobster," he said. AdvertisementElon Musk wasn't happy when he found out that Red Lobster is filing for bankruptcy. On Sunday, the seafood chain said in a statement that it had filed for Chapter 11 bankruptcy. Red Lobster said its restaurants will "remain open and operating as usual during the Chapter 11 process."

Persons: Elon Musk, —, Elon Organizations: Sunday, Service

☆ ‘The Apprentice’ premieres to applause and controversy at Cannes Film Festival
▼ + stars: | 2024-05-21 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +3 min

CNN —“The Apprentice,” a new film about former President Donald Trump’s real estate dealings in New York in the ’80s, debuted to a standing ovation at the Cannes Film Festival and criticism from his campaign. Starring Sebastian Stan as a young Trump, the film is an “exploration of power and ambition set in a world of corruption and deceit,” according to an official synopsis. “Succession” star Jeremy Strong co-stars as Roy Cohn, the lawyer and fixer who Trump considered a mentor early in his career. There is only the way of dealing with this wave on its own turfs at its own level,” he said. APThe film includes a depiction of Trump’s relationship with his first wife, Ivana, and their divorce, according to The Hollywood Reporter.

Persons: CNN —, ”, Donald Trump’s, Sebastian Stan, Trump, Jeremy Strong, Roy Cohn, “, Gabriel Sherman, Ali Abbasi, ” Abassi, “ It’s, ” Gabriel Sherman, Maria Bakalova, Martin Donovan, Ivana, liposuction, ” Steven Cheung, doesn’t, ” Maria Bakalova, Ivana Trump, Catherine McNally, Charlie Carrick Organizations: CNN, Cannes Film, Republican, Iranian, Hollywood, Trump Locations: New York, Danish

☆ Trump Media lost $327 million last quarter. It's still valued at more than $6 billion.
▼ + stars: | 2024-05-21 | by ( Sarah Gray | ) www.businessinsider.com time to read: +1 min

Trump Media & Technology Group lost $327.6 million in the first quarter, per an earnings report. The Monday filing revealed that TMTG earned a revenue of $770,500 in the first three months of the year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe parent company of Truth Social, former President Donald Trump's social media company, lost $327.6 million in the first quarter, per its Monday earnings report. Trump Media & Technology Group went public via SPAC at the end of March after it merged with Nasdaq-listed Digital World Acquisition Corp.

Persons: TMTG, —, Donald Trump's Organizations: Trump Media & Technology Group, Service, Truth Social, Nasdaq, Corp, SEC, Business Locations: SPAC

☆ Tesla is turning on the charm after leasing and rental-car companies say the value of their fleets have plummeted, but it may not be enough: report
▼ + stars: | 2024-05-21 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +1 min

Tesla is offering discounts to appease European car rental and leasing firms, Reuters reported. The discounts follow Tesla's price cuts in Europe, which impacted fleet values for leasing firms. Tesla is also addressing complaints that had previously gone ignored, sources told the outlet. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla is taking action to appease leasing and rental-car companies in Europe who say the value of their Tesla fleets has sharply declined, according to a new report from Reuters.

Persons: Tesla, — Organizations: Reuters, Service, Business Locations: Europe

☆ Tesla shareholders say Elon's influence makes Kimbal Musk and James Murdoch unsuitable for the company's board
▼ + stars: | 2024-05-21 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +1 min

A group of Tesla shareholders are urging others to reject Musk's proposed pay package. They also want shareholders to vote against the reelection of board members James Murdoch and Kimbal Musk. The shareholders cited concerns about Murdoch's and Kimbal Musk's personal ties to the Tesla CEO. AdvertisementA group of Tesla shareholders are urging others to vote against the reelection of Kimbal Musk and James Murdoch to the Tesla Board and reject a plan to give Tesla CEO Elon Musk a hefty pay package. Per the shareholders, they believe there is "ample evidence" that Tesla's entire board of directors is "overly beholden to CEO Musk."

Persons: Musk's, James Murdoch, Kimbal, —, Kimbal Musk, Elon Musk, Murdoch, Musk Organizations: Service, Tesla, SEC

☆ Steve Jobs' former intern on why college grads should pay $50,000 to work with the best people
▼ + stars: | 2024-05-21 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +1 min

Steve Jobs' former intern has some sage advice for college graduates: stop focusing on working for big companies and instead find the best people to work for. Chet Kapoor, chairman and CEO of generative AI company DataStax, has had an illustrious career in Silicon Valley. The Kolkata-born tech leader started out working at Steve Jobs' software company NeXT in 1986 and went on to become CEO of API management company Apigee which was acquired by Google in a $625 million deal in 2016. Kapoor said his experience observing Jobs played a role in shaping his leadership style. "I can attribute a large portion of my success to my first two or three years at NeXT," he added.

Persons: Steve Jobs, Chet Kapoor, Kapoor, Jobs Organizations: NeXT, Google, Jobs, CNBC Locations: Silicon Valley, Kolkata

☆ Sundar Pichai says OpenAI might have breached YouTube's terms and conditions to train its text-to-video model Sora
▼ + stars: | 2024-05-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Read previewOpenAI might've breached YouTube's terms and conditions to train its text-to-video model Sora, says Google CEO Sundar Pichai. "So you felt like they had broken your terms and conditions, or potentially, or if they had, that wouldn't have been appropriate?" Sundar Pichai says he believes OpenAI's Sora breached YouTube's terms and conditions and he is sympathetic to creators whose content is being used to train AI models pic.twitter.com/mF1D6XjYf8 — Tsarathustra (@tsarnick) May 20, 2024Earlier in the interview, Pichai revealed that YouTube was still "following up and trying to understand" how OpenAI had trained Sora. "We have terms and conditions, and we would expect people to abide by those terms and conditions when you build a product, so that's how I felt about it." AdvertisementJohansson said in a statement that she had turned down OpenAI CEO Sam Altman's offer to voice its latest GPT-4o model.

Persons: —, Sora, Sundar Pichai, Nilay Patel, Pichai, OpenAI's Sora, OpenAI, Mira Murati, Joanna Stern, Stern, Murati, I'm, Neal Mohan, Emily Chang, would've, Mohan, didn't, Scarlett Johansson, Johansson, Sam Altman's, Spike Jonze's, We’ve Organizations: Service, Business, YouTube, coy, Google, BI Locations: Amazon, ChatGPT

☆ U.S. tariff hikes on China EVs will benefit these global stocks, Bernstein says
▼ + stars: | 2024-05-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

On top of that, the Inflation Reduction Act (IRA) subsidies to reshore the battery supply chain to the U.S. are also "having the desired impact," it added. It named companies such as LG Energy Solution and Samsung SDI which have more than 65% of U.S. battery manufacturing capacity. LG Energy Solution has the additional benefit of being the most exposed to growth and IRA benefits, they added. But Bernstein said it prefers Samsung SDI to LG Energy Solution for now, as the former offers "growth at a reasonable price." Bernstein gave Samsung SDI and LG Chem an outperform rating and LG Energy Solution a market perform rating.

Persons: Bernstein, Freyr, — CNBC's Michael Bloom Organizations: U.S, LG Energy, Samsung SDI, LG Chem, Umicore, Basf, LG, Panasonic, Tesla, SolidEnergy Systems Locations: U.S, North America, decouple, China, South Korea, Europe

☆ Scarlett Johansson says she declined Sam Altman's offer to voice ChatGPT. Now she's lawyered up after an 'eerily similar' voice was released.
▼ + stars: | 2024-05-21 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

"We believe that AI voices should not deliberately mimic a celebrity's distinctive voice — Sky's voice is not an imitation of Scarlett Johansson but belongs to a different professional actress using her own natural speaking voice," the blog post said. AdvertisementIn a statement provided to BI, Altman said the Sky voice is not Johansson and was not intended to be similar to hers. "We cast the voice actor behind Sky's voice before any outreach to Ms. Johansson. Out of respect for Ms. Johansson, we have paused using Sky's voice in our products," Altman said. "We are sorry to Ms. Johansson that we didn't communicate better."

Persons: —, Scarlett Johansson, OpenAI, Sam Altman's, Johansson, Altman, Sky's, Katie Notopoulos, Sam Altman Organizations: Service, Business, BI

☆ Top value investor names 'very cheap' global gaming stock as a contrarian bet
▼ + stars: | 2024-05-21 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

While NCsoft shares are only traded in South Korea, they are accessible to U.S. and European investors through ETFs. The company's shares have been hit hard over the past few years, with the stock price declining significantly from its peak in 2021 and falling 40% over the past 12 months. German, co-manager of the Emerging Market Value strategy at Schroders , attributes the sell-off to several factors. In addition, NCsoft also announced a cost-cutting program and a share buyback program earlier this month which have already boosted the company's stock price by around 10%. Most analysts have a hold rating on the stock, giving shares only a 2% upside, according to FactSet data.

Persons: Vera German, NCsoft, Nexon Organizations: Esports, CNBC Pro, Investor Conference, South Korean Locations: Korean, South Korea, London, Korea

☆ Mumbai, India: Billionaires, Bollywood celebrities cast their vote in the world’s largest election
▼ + stars: | 2024-05-21 | by ( Rhea Mogul | ) edition.cnn.com time to read: +4 min

Bollywood actor Shah Rukh Khan, along with his family, leaves a polling booth after casting his ballot in Mumbai on May 20, 2024. Sujit Jaiswal/AFP/Getty ImagesThe “King of Bollywood” Shah Rukh Khan was seen leaving a Mumbai polling booth with his family – wife Gauri, daughter Suhana, and sons Aryan and Abram. Bollywood actors Ranveer Singh and Deepika Padukone arrive to cast their ballots at a polling station in Mumbai on May 20, 2024. Residents queue to cast their vote on May 20, 2024 in Mumbai, India. Voters wait to cast their vote in Chandivali, Mumbai, on May 20, 2024.

Persons: Narendra Modi, Shah Rukh Khan, Sujit Jaiswal, ” Shah Rukh Khan, Gauri, Suhana, Aryan, Abram, Amitabh Bachchan, ” Khan, “ Let’s, Deepika Padukone, Ranveer Singh, Mukesh Ambani, Nita, Akash, Akshay Kumar, “, Aishwarya Rai Bachchan, Stringer, Shiv Sena —, Satish Bate, Sachin Chaudhary Organizations: CNN, Getty, Bharatiya Janata Party, BJP, Indian National Congress, Hindustan Times, Getty Images Locations: Mumbai, Maharashtra, India’s, AFP, Andheri, “, India, Mumbai’s, West Bengal, Getty Images Mumbai, New York, Chandivali

YouTube YouTube TikTok TikTok TikTok TikTok YouTube Visual Investigations How a Haitian Gang Is Trying to Turn Itself Into a Militia Dozens of 5 Segonn members dance in a music video. It’s typically carried by militaries and hasn’t been seen being used before by the 5 Segonn gang. It’s typically carried by militaries and hasn’t been seen being used before by the 5 Segonn gang. A group of 5 Segonn gang members dressed in tactical gear. TikTok TikTok TikTok TikTok YouTube YouTube YouTube TikTok TikTok On social media, Izo often posts videos of himself dancing and drinking.

Persons: hasn’t, Jovenel Moïse, Ariel Henry, Johnson André, TikTok, Izo, They’ve, Gustavo Petro, Moïse’s, Dimitri Hérard, Hérard, Izo’s Organizations: YouTube YouTube, Kenyan, The New York Times, Gang, PORT, PRINCE, Prince Bay Gang, Prince, Global, Transnational, Rights, Human Rights Defence Network, Human Rights, Integrated, YouTube, of, Los Angeles Crips, Toyota, Haitian National Police, Haitian Army, Times, Associated, The Justice Department, State Department, Facebook Locations: Belgian, Haiti, Port, Dominican Republic, Prince Bay HAITI, PRINCE HAITI, U.S, America, Dieu, Izo’s, United States, Colombia, Haitian, South, Central America, Brazil, Latin America, Europe, Izo, Western

☆ Trump’s trial reaches crescendo as tempers fray in the courtroom
▼ + stars: | 2024-05-21 | by ( Stephen Collinson | ) edition.cnn.com time to read: +9 min

The presumptive Republican nominee’s lawyers made a long-shot bid for the dismissal of his first criminal trial before the jury has even been asked to deliberate. And he implored Merchan not to hand jurors a case so reliant on testimony from Cohen, a confessed liar. Key developmentsMonday’s court action at times threatened to spin out of control — in a way that only a Trump trial can. “I know it may feel like you’re on trial here after cross-examination, but are you actually on trial?” she asked Cohen. Courtroom chaosVeteran lawyers and court reporters said they’d never seen anything like the scene precipitated by defense witness Robert Costello.

Persons: Donald Trump’s, Juan Merchan, Michael Cohen, sensationally, ’, Todd Blanche, Trump, Stormy Daniels, Merchan, Cohen, ” Blanche, ”, “, Blanche, he’d, ” Trump, Daniels, won’t, —, Matthew Colangelo, Colangelo, Keith Schiller, Susan Hoffinger, LaDoris Hazzard Cordell, Jake Tapper, they’d, Robert Costello, Costello, there’s, ” Merchan, ” Cordell, Tapper, Bob Costello, I’ve, Terri Austin, CNN’s Erin Burnett, we’ll Organizations: CNN, Republican, Trump, Republican Party, Trump Organization, “ Locations: Merchan, Trump, Manhattan

☆ A rare feather just sold for $28,000, making it worth 40 times as much as gold by weight
▼ + stars: | 2024-05-21 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Read previewA single feather of an extinct bird was auctioned off in New Zealand on Monday for about $28,000, making it the most expensive feather ever sold worldwide. The huia feather sold at Webb's Auction House in Auckland was initially estimated to be worth around $1,830, but its sale price ballooned after 59 bids. Gold costs around $77 per gram in New Zealand, and the 9-gram huia feather is worth $3,153 per gram. Related storiesThe feather sold on Monday is framed under protective glass and is classified by the New Zealand government as a Y-registered object. The huia feather sale comes as auctions draw attention largely from sports and celebrity memorabilia sold at once-seemingly outlandish prices.

Persons: —, huia, Diego Maradona Organizations: Service, Zealand Geographic, Business, The Guardian, New, New Zealand Geographic Locations: New Zealand, New, Auckland

☆ Oil prices fall on fear of high U.S. interest rates depressing demand
▼ + stars: | 2024-05-21 | by ( ) www.cnbc.com time to read: +2 min

Oil storage drums stacked in the Keihin industrial area of Kawasaki, Kanagawa Prefecture, Japan, on Monday, April 15, 2024. Oil prices fell in early Asian trade on Tuesday, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand. "Fears of weaker demand led to selling as the prospect of Fed rate cut became more distant," said analyst Toshitaka Tazawa at Fujitomi Securities. Lower interest rates reduce borrowing costs, freeing up funds which could boost economic growth and demand for oil. OPEC+ could extend some voluntary output cuts if demand fails to pick up, people with knowledge of the matter previously told Reuters.

Persons: Toshitaka Tazawa, Philip Jefferson, Michael Barr, Raphael Bostic, Ebrahim Raisi, Ayatollah Ali Khamenei, Mohammed Bin Salman, Fujitomi's Tazawa Organizations: Brent, . West Texas, Federal, Fujitomi Securities, Atlanta Fed, Reuters, Saudi Arabia's Crown, Iranian, Investors, Organization of, Petroleum Locations: Kawasaki, Kanagawa Prefecture, Japan, Saudi, OPEC

☆ FDIC chairman Martin Gruenberg to resign following investigations into sexual harassment at the bank regulator
▼ + stars: | 2024-05-21 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

The report also probed FDIC chairman Martin Gruenberg's strong temper. Staying in office would prevent FDIC vice chairman Travis Hill, a Republican, from becoming the agency's acting chairman. The White House said that President Joe Biden would soon nominate a new FDIC chairman and that it expects the Senate to move quickly to confirm the nominee. "I accept the findings of the reports and as chairman, I take full responsibility to anyone who has experienced sexual harassment, discrimination or other misconduct at the FDIC," Gruenberg said at the hearing. Investigators said they set up a hotline in mid-January and received more than 500 complaints — largely from current employees — about sexual harassment, discrimination, and other issues.

Persons: —, Martin Gruenberg's, Gruenberg, Travis Hill, Joe Biden, Cleary Gottlieb Steen, Hamilton Organizations: Service, Federal Deposit Insurance Corporation, Business, Democratic, Wall Street, Republican, Journal, Senate, FDIC

☆ Haiti’s Gangs Grow Stronger as Kenyan-Led Force Prepares to Deploy
▼ + stars: | 2024-05-21 | by ( Maria Abi-Habib | ) www.nytimes.com time to read: 1 min

They have a stranglehold on the country’s infrastructure, from police stations to seaports. They have chased hundreds of thousands of people from the capital. And they are suspected of having ties to the 2021 assassination of Haiti’s president. Western diplomats and officials say the influence and capability of many Haitian gangs are evolving, making them ever more threatening to the Kenyan-led multinational police force soon deploying to Haiti as well as the fragile transitional council trying to set a path for elections. With their arrival just days away, the 2,500 police officers will confront a better equipped, funded, trained and unified gang force than any mission previously deployed to the Caribbean nation, security experts say.

Organizations: Kenyan Locations: Haiti, Caribbean

☆ China's sweeping measures to prop up the property sector will need time to show results
▼ + stars: | 2024-05-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

A real estate construction site in Wanxiang City, Huai 'an City, East China's Jiangsu province, May 17, 2024. Future Publishing | Future Publishing | Getty ImagesBEIJING — China's sweeping moves on Friday to increase support for real estate will take time to show results, analysts said. Despite the news, S&P is still sticking to its base case from earlier in the month that China's property market is likely still "searching for a bottom," Edward Chan, director, corporate ratings, said during the firm's webinar on Monday. But he pointed out that for real estate to see significant stabilization, homebuyers' demand and confidence will need to improve after a market downturn of nearly three years. "We believe Beijing is headed in the right direction with regard to ending the epic housing crisis," Nomura's Chief China Economist Ting Lu said in a report Monday.

Persons: Huai, Edward Chan, Ting, Nomura, Goldman Sachs, Chief China Economist Hui Shan, Ting Lu, P's Chan Organizations: Future Publishing, Getty, BEIJING, Chief China Economist, China Locations: Wanxiang City, City, East China's Jiangsu, Hong Kong, Beijing, Ting Lu, China

☆ Taichung, Taiwan: Passengers subdue Taiwan metro knife assailant on tenth anniversary of deadly attack
▼ + stars: | 2024-05-21 | by ( Jessie Yeung | Xiaofei Xu | ) edition.cnn.com time to read: +2 min

The attack came on the tenth anniversary of a deadly knife rampage on Taipei’s metro that shocked an island with a reputation for being generally safe, and led to the eventual execution of the man who carried out the attack. Three passengers were injured in the incident on Tuesday in Taichung and were taken to hospital, city’s mayor Lu Shiow-yen told reporters. “As we were pinning him down, another man pried (the attacker’s) fingers and took away the knife,” a female witness told journalists at the scene. “I saw him (the attacker) holding a cooking knife and later saw a fruit knife on the floor,” he said. The incident also happened on the ten-year anniversary of a similar stabbing attack in the Taipei metro which killed four people and injured over twenty.

Persons: Lu Shiow, “, …, ” Organizations: CNN Locations: Taichung, Kaohsiung, Taipei

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