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☆ Cloud seeding probably didn't cause Dubai's floods. The UAE has been trying to control its weather for years, and the US does it too.
▼ + stars: | 2024-04-17 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +6 min

Photos show how the UAE, United States, and other countries have been seeding clouds for decades. Historic floods in Dubai didn't come from cloud seeding, but humans' climate impacts are playing a role. Related storiesAccording to several scientists, cloud seeding isn't the driving force behind Dubai's historic floods. Packets of salt are pictured during a cloud seeding operation at a military airbase in Subang, Malaysia. The real threat behind Dubai's floodsMany atmospheric scientists have dismissed the idea that cloud seeding was behind Dubai's floods.

Persons: GIUSEPPE CACACE, Getty, Prometheus, Frankenstein —, Thomas Peipert, Al Hayer, Amr Alfiky, Andrea DiCenzo, Lim Huey Teng, there'd, Friederike Otto, John Marsham, Jeff Big Jeff, Gary Coronado, Marsham, Fred Greaves, Otto Organizations: Dubai didn't, Service, United Arab Emirates, United Arab, UAE, Reuters, National Center of Meteorology, United, UAE's National, of Meteorology, Militia, Imperial College London, Science Media, SMC, University of Leeds, Los Angeles Times, Getty, UAE isn't, National Park Service, AP Locations: UAE, United States, Dubai, United Arab Emirates, Rocky, Lyons , Colorado, China, Australia, Al Ain, Utah, Dongkou county, Shaoyang, Hunan province, Subang, Malaysia, Bannon, Sacramento, , California, California's Sacramento County

☆ I made Guy Fieri's legendary Trash Can Nachos, and they're the perfect Super Bowl snack
▼ + stars: | 2024-02-08 | by ( Chelsea Davis | ) www.businessinsider.com time to read: +9 min

Chelsea Davis for InsiderI started by making the marinade for my carne asada, which is typically made with grilled and sliced beef. Chelsea Davis for InsiderThis simmering process took about an hour and a half, which gave me time to do everything else. Chelsea Davis for InsiderOn the side, I had sliced avocado and radish slices for garnish and serving with the nachos. Chelsea Davis for InsiderI was worried the tower would just collapse, but it actually held together quite well. Chelsea Davis for InsiderIt didn't look like the prettiest dish in the world, but the toppings seemed evenly distributed throughout the chips.

Persons: —, Guy Fieri, Read, Chelsea Davis, carne, queso blanco, pico de gallo, carne asada, oregano Organizations: Service, Business, SMC Locations: Mexican, oregano, Oaxaca, Asadero, Monterey Jack

☆ Indian shares set for muted opening; TCS, Cipla in focus
▼ + stars: | 2023-11-20 | by ( Sethuraman N R | ) www.reuters.com time to read: +2 min

The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBANGALORE, Nov 20 (Reuters) - Indian shares are set to open on a slightly muted note on Monday, with a focus on the global interest rate outlook after a more than 3% rally so far this month. The NSE Nifty 50 index (.NSEI) gained 1.58% last week, its best in two months, while the Sensex rose 1.37%. "Market is expected to continue its upward movement driven, by robust macro data and diminishing global concerns," SMC Global Securities said in a note. In global markets, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged up 0.3%, with investors awaiting minutes of the Fed's last meeting.

Persons: Francis Mascarenhas, Nifty, Sohini Goswami Organizations: Bombay Stock Exchange, REUTERS, Rights, NSE, U.S . Federal, SMC Global Securities, India's Tata Consultancy Services, United, United States Food, Drug Administration, CFM Mozambique, General Tax Authority, Sethuraman NR, Thomson Locations: Mumbai, India, Rights BANGALORE, Asia, Pacific, Japan, United States, Qatar, Bengaluru

☆ Goldman Sachs: These 'conviction list' global stocks will benefit from a circular economy boom
▼ + stars: | 2023-11-14 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Rising commodity prices, increased regulation and a growing recognition of sustainability benefits are set to be "key catalysts" of the circular economy, Goldman Sachs said, naming its "conviction list" stocks to play the theme. The circular economy is a system that aims to keep materials and resources in use for as long as possible, with a focus on reuse, rather than dispose. Conviction list stocks The bank named a number of "key stocks exposed to the theme," including Dassault Systemes and SMC Corporation . Both are on the bank's "conviction list" of top buy-rated stocks. Other global stocks on Goldman's list of picks set to benefit from the circular economy include Japanese electronics giant Hitachi , Dutch conglomerate Philips and U.S. waste management company Republic Services , with all three also on the bank's conviction list.

Persons: Goldman Sachs, Goldman, — CNBC's Michael Bloom Organizations: McKinsey, Accenture, United Nations Environment Program, Dassault Systemes, SMC Corporation, Dassault Systems, Hitachi, Philips, Republic Services

☆ Indian rupee falls to record low, next week crucial to gauge new range
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, Nov 10 (Reuters) - The Indian rupee dropped to a record low against the U.S. dollar on Friday, which alongside the outage of the interbank order matching system, prompted the central bank to step in. The rupee dropped to a record low of 83.42 to the dollar and was last at 83.3925. "On why the RBI today decided that (allow rupee to drop below 83.30), it's impossible to say," a forex trader at a bank said. Next week will be very important to see if a new range has been made." He, however, said that the range in the USD/INR has now shifted higher.

Persons: Alok Sharma, Arnob Biswas, Nimesh Vora, Sonia Cheema Organizations: U.S, Reserve Bank of India, SMC Global Securities, Thomson Locations: MUMBAI, ICBC

☆ Storylines Residential Cruise Faces Backlash From Investors, Ex-Employees
▼ + stars: | 2023-11-01 | by ( Kate Taylor | Brittany Chang | ) www.businessinsider.com time to read: +31 min

Storylines' first cruise ship was initially scheduled to launch in 2019; it's now set for December 2026. Nine former employees, consultants, and investors told Insider that they'd come to doubt the MV Narrative would ever be built. The only existing residential cruise ship is The World. Many Storylines buyers remain optimistic about the residential cruise ship. "The ball is in your court," Punton told buyers in July in a video that's since been taken down.

Persons: Alister Punton, Punton, Shannon Lee, Mike Kasperzak, Jim Holt, Holt, Angela Nuran, Paul Cosentino, Cosentino, We're, Lee, it's, Alexandre Caillol, Condé, superyachts, Sean Fremder, Weeks, Caillol —, —, Marco Polo —, PitchBook, Alexandra Zodian —, Caillol, Michael Edwards, Edwards, he'd, Martin Buggy, Melissa Edyvean, Edyvean, Paul Read, Salvatore R, Mercogliano, Pat Helmers, Helmers, Michael Perisi, Andrew Lentz, didn't, Lentz, Wrocław . Lentz, Andrew, I'm, Lee ., Dick Rosman —, Lee —, Krzysztof Kontek, Kontek's, Michal Jackiewicz, Brodosplit, Brian Martin, Read, Nuran, We've, he's, New Zealand —, Kasperzak, " Lentz Organizations: Punton, Army, West —, Industry, CNN, Brodosplit, Regent Seven Seas, Wall Street Journal, Korea's Samsung Heavy Industries, Utopia, Beverly Hills, Rock City, The Raiders, Raiders, Holland America's, Mariners, New Zealand Locations: massages, Croatian, Beverly, Punton, Queensland, Australia, Broadbeach, California, Rock, Brisbane, Netherlands, Caillol, Polynesia, French Polynesia, France, London, Australian, British, Delaware, Sweden, Tahiti, Perth, Ecuador, Poland, Wrocław, Mexico, Florida, New

☆ Elon Musk is giving Tesla shareholders reason for bullishness after his big Twitter announcement
▼ + stars: | 2023-05-15 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Wedbush maintained its outperform rating for Tesla, and shared a 12-month price target of $215, or about 27% higher than the current share price. The long wait times for vehicles, according to Piper Sandler, is a bullish sign because it means demand is robust. "The answer is complex, because wait times don't solely reflect consumers' appetite for buying Teslas vs. other cars." In effect, the lengthy wait times should be "interpreted favorably," in Potter's view. Piper Sandler's price target for Tesla is $280 a share, or more than 65% higher from current levels.

☆ Rupee records worst week since mid March as dollar regains strength
▼ + stars: | 2023-05-12 | by ( Sethuraman N R | ) www.reuters.com time to read: +1 min

MUMBAI, May 12 (Reuters) - The Indian rupee fell to a three-week low on Friday and registered its worst week in eight, dragged down by a broader strength in the dollar index. The rupee closed at 82.1625 per U.S. dollar compared with 82.09 in the previous session. "We are seeing a lot of variations in the economic data, notably in the U.S. and across the Eurozone ... So based on the scenario globally, dollar is looking bit more positive," said Arnob Biswas, head FX research at SMC Global Securities. The U.S. dollar edged higher on Friday and was heading for its biggest weekly gain since February, while the dollar index gained nearly 0.8% so far this week.

[1/3] Edwin Gariguez, a Catholic priest from the Philippines, who is touring top European banks on environmental issues, is pictured in Frankfurt, Germany, May 10, 2023. "It's really frustrating on my part," Gariguez said on a stopover in Frankfurt after meetings with Deutsche Bank and DWS (DWSG.DE). Barclays and San Miguel didn't respond. On its website, San Miguel says: "As sustainability champions, we hold ourselves accountable." The nation's Department of Energy sees LNG as a "transition fuel", as it moves away from coal-fired power generation toward more renewable energy.

☆ Actress Eva Green wins London court case over fee for failed film
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 28 (Reuters) - (Please note obscene language in penultimate three paragraphs)Hollywood actress Eva Green on Friday won a legal fight with financiers whom she had sued in London's High Court for her fee for a failed film in which she was to star. Judge Michael Green said in a written ruling that Eva Green was entitled to payment of the $1 million fee. Green, 42, appeared in court in January to say she had become concerned the film's production team had been cutting corners, citing how her stunt training had been reduced from four weeks to five days. White Lantern's lawyers said Green, also an executive producer on the project, had made unreasonable demands about crew, locations and equipment. "I fought tooth and nail to defend the beautiful film that I loved and had signed on for," Green said in a statement.

☆ China's economic activity uneven in Jan-Feb after COVID reopening
▼ + stars: | 2023-03-15 | by ( Ellen Zhang | Kevin Yao | ) www.reuters.com time to read: +3 min

REUTERS/Tingshu WangProperty investment in the January-February period fell again as home buyers and developers remained cautious despite a slew of supportive government policies. The reading accelerated from a 1.3% annual rise in December. The mixed data portrayed an uneven recovery in economic activity following China’s abrupt abandonment late last year of its three-year-long campaign to control COVID-19. Within January-February fixed-asset investment, infrastructure investment surged 9.0% from a year before. China has set a modest annual growth target of around 5% this year after significantly missing its target for 2022 and recording one of its worst showings in nearly half a century.

"This is an encouraging set of data, but still is only one month, and challenges remain." Global oil prices went higher, underlining how a strong Chinese recovery could fuel global inflation through increased energy demand. STUBBORN INFLATIONIn Europe, German data showed the fight against inflation still has some way to go. Factory activity continued to shrink in Taiwan and Malaysia in February, and expanded at a slower pace in the Philippines, surveys showed. Separate data showed South Korea's exports fell 7.5% in February from a year earlier, marking the fifth straight month of declines, partly due to a plunge in semiconductor exports.

☆ Instant View: Adani's $2.5 billion offer rides out share storm with investor backing
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +5 min

COMMENTARYAMBAREESH BALIGA, INDEPENDENT MARKET ANALYST, MUMBAI"The FPO did get subscribed, thanks to a few institutional as well as large family offices. DEEPAK JASANI, HEAD OF RETAIL RESEARCH, HDFC SECURITIES, MUMBAI"For Indian markets, one of the concern areas is out of the way for the time being as this was weighing on investor sentiment. Since the current market price is below the offer price, the retail subscription was low as investors can rather buy it from the market." That was their focus area considering the fact that there was a difference between the market price and the floor price of the FPO. It seems that retail investors did not consider the fact that there is more to rates than just the price."

☆ In UK lawsuit, Hollywood star Eva Green says making 'B movie' would ruin career
▼ + stars: | 2023-01-30 | by ( Michael Holden | ) www.reuters.com time to read: +3 min

[1/3] French actress Eva Green arrives at The Rolls Building courthouse in London, Britain, January 30, 2023. 'UNREASONABLE'In its written submissions, White Lantern's lawyers said Green, also an executive producer in the project, had made unreasonable demands about crew, locations and equipment. She also described funders for the movie as "arseholes" and some proposed crew members as "shitty peasants". "I wanted to make the most brilliant film possible," Green told the court, agreeing with White Lantern's lawyer Max Mallin that making a "B movie" could kill her career. I wanted to work with a high-quality crew who just wanted to be paid standard industry rates," Green told the court.

The stunning market selloff has cast a shadow over Adani Enterprises' secondary share sale that started on Friday. The share sale is being managed by Jefferies, India's SBI Capital Markets, Axis Capital, and ICICI Securities among others. Shares of other listed Adani firms also plummeted, with Adani Transmission Ltd (ADAI.NS), Adani Total Gas (ADAG.NS), Adani Green Energy (ADNA.NS) and Adani Ports (APSE.NS) sinking 20% each. Adani Ports, Adani Green Energy and Adani Transmission marked their worst intraday drop ever, with heavy volumes. Billionaire U.S. investor Bill Ackman said on Thursday that he found the Hindenburg report "highly credible and extremely well researched."

☆ Instant view: India's Adani slammed by $48 bln stock rout, clouding record share sale
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

COMMENTARYJ.P.MORGAN"While the Hindenburg report focused mainly on equity valuations within the group, we are primarily concerned about the underlying credit profiles of group companies given underlying bank exposures. Clearly given the size of the group and outstanding debt, this has also impacted the banks." So if a report comes and stocks see a sharp fall, lot of margin calls also get triggered. At least 40% of the group's debt is exposed to Indian banks, so that exposure is what people are worried about in banks. Reporting by Rama Venkat and Bharath Rajeswaran in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

MUMBAI, Jan 23 (Reuters) - The Indian rupee is expected to extend its gains this week, while government bond yields may move marginally higher due to worries about yet another year of elevated borrowing. The local unit is likely to add to its momentum and trade in a broad 80.50-81.50 range this week, analysts said. Despite the corporate flows in the market, steady foreign investment into equities is more important, so it seems appropriate for the rupee to trade around those levels, Biswas added. Market participants expect the benchmark bond yield to trade in the 7.30%-7.40% band this week. The Reserve Bank of India will auction 40 billion rupees each of five- and 10-year green bonds on Wednesday.

REUTERS/Tingshu WangBEIJING, Jan 11 (Reuters) - Chinese state media defended on Wednesday the retaliatory measures against South Korea and Japan over their COVID-19 travel curbs as "reasonable", while Chinese tourists decried Seoul's "insulting" treatment on social media. South Korea, Japan, the United States and more than a dozen other countries imposed at the start of the year requirements for pre-departure negative test results from visitors from China. 'INSULTING'Chinese social media anger mainly targeted South Korea, whose border measures are the strictest among the countries that announced new rules. Global Times reserved a separate article for South Korea, saying the measures made Chinese people suspicious that Seoul was putting up a "political show." Annual spending by Chinese tourists abroad reached $250 billion before the pandemic, with South Korea and Japan among the top shopping destinations.

The holiday, known before the pandemic as the world's largest annual migration of people, comes amid an escalating diplomatic spat over COVID curbs that saw Beijing introduce transit curbs for South Korean and Japanese nationals on Wednesday. The virus is spreading unchecked in China after Beijing abruptly began dismantling its previously tight curbs in early December following historic protests. Among them, South Korea and Japan have also limited flights and require tests on arrival, with passengers showing up as positive being sent to quarantine. COUNTING DEATHSSome of the governments that announced curbs on travellers from China cited concerns over Beijing's data transparency. Annual spending by Chinese tourists abroad reached $250 billion before the pandemic, with South Korea and Japan among the top shopping destinations.

☆ Rupee gains on speculators bets, lack of cash dollar demand
▼ + stars: | 2023-01-02 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Jan 2 (Reuters) - The Indian rupee was trading higher against the U.S. dollar on Monday, helped by likely position building and lack of cash dollar demand, traders said. The rupee was at 82.5750 per U.S. dollar by 10:50 a.m. IST, compared with 82.72 in the previous session. The U.S. holiday means there is no cash dollar demand and then our (dollar) sell-side order book is a bit active, said a spot trader at a private bank. The rupee, this week, will take cues from the response of the dollar and Treasury yields to a string of U.S. data. The USD/INR forward premiums extended their recent slide, with the 1-year implied yield falling to near 2%.

☆ Philippine leader hopes court will reconsider Manila power deal
▼ + stars: | 2022-11-27 | by ( ) www.reuters.com time to read: +2 min

The court allowed South Premiere Power Corp., a unit of San Miguel Corp (SMC.PS) to suspend a power supply agreement with Manila Electric Company (Meralco) (MER.PS) after the companies were prevented from raising tariffs by the regulator. "We hope that the CA (Court of Appeals) will reconsider and include in their deliberations the extremely deleterious effect this will have on power prices for ordinary Filipinos," Marcos was quoted as saying, describing the decision as "unfortunate". South Premiere and Meralco had sought to raise prices amid higher costs of coal, which the Energy Regulatory Commission rejected in September citing fixed prices set under power supply agreements. Marcos, who began his six-year term in June, has promised lower electricity rates, which are among the highest in Asia. Higher electricity prices would put further pressure on Philippine inflation, which hit the fastest pace in nearly 14 years last month.

☆ The Lehman Brothers of Crypto: Here's how the fall of Sam Bankman-Fried's FTX compares to the collapse that sparked the Great Financial Crisis
▼ + stars: | 2022-11-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

It gives maybe the clearest, most entertaining breakdown of how many, many very bad bets on subprime mortgages kickstarted the 2008 Financial Crisis. The most serious domino to fall 14 years ago was Lehman Brothers, the classic too-big-to-fail behemoth that did in fact go under. All this is a roundabout way of saying the collapse of Sam Bankman-Fried's crypto exchange, FTX, is severe and dramatic enough to warrant its own movie in a few years. Reminisce with me for a moment: In the years leading up to 2008, Lehman Bros loaded up its balance sheet with huge amounts of subprime mortgage debt. Lehman went under, and the world sunk into its worst financial crisis since the Great Depression.

☆ China's factory, services activity skids on relentless COVID curbs
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +4 min

The official manufacturing purchasing managers' index (PMI) fell to 49.2 from 50.1 in September, the National Bureau of Statistics (NBS) said on Monday. The poll showed China's growth could pick up to 5.0% in 2023. DEMAND WEAKENSThe manufacturing PMI survey pointed to weakening demand with the new orders subindex showing contraction for the fourth straight month. The official manufacturing PMI largely focuses on big and state-owned firms. The private sector Caixin manufacturing PMI, which centres more on small firms and coastal regions, will be published on Tuesday.

☆ China's factory, services activity skids on persistent COVID curbs
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +4 min

☆ China's Oct factory activity unexpectedly skids amid slowing demand
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas PeterSummary Official manufacturing PMI unexpected fall in OctOfficial services PMI contracts in OctBEIJING, Oct 31 (Reuters) - China's factory activity unexpectedly fell in October, an official survey showed on Monday, weighed by softening global demand and strict COVID-19 restrictions, which hit production. The official manufacturing purchasing managers' index (PMI) stood at 49.2 from a 50.1 reading in September, the National Bureau of Statistics (NBS) said. The poll showed China's growth could pick up to 5.0% in 2023. The official manufacturing PMI largely focused on big and state-owned firms. The private sector Caixin manufacturing PMI, which centres more on small firms and coastal regions, will be published on Tuesday.

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