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☆ Live updates: Singapore Airlines turbulence incident
▼ + stars: | 2024-05-21 | by ( Lauren Said-Moorhouse | ) edition.cnn.com time to read: +1 min

At least seven people are critically injured after a Singapore Airlines flight traveling from London to Singapore experienced severe turbulence and was forced to make an emergency landing in Thailand, according to Kittipong Kittikachorn, the general manager of Bangkok's Suvarnabhumi International Airport. Earlier, the airport official confirmed a 73-year-old British man had died. Kittikachorn also told CNN on Tuesday that he was informed about the emergency landing in Bangkok just ten minutes before it touched down. Previously, the airport official said the majority of injuries sustained on board were cuts and bruises. “It took us one and a half hours to evacuate all passengers,” Kittikachorn stated.

Persons: Kittipong Kittikachorn, Bangkok's, Kittikachorn, ” Kittikachorn Organizations: Singapore Airlines, Authorities, CNN Locations: London, Singapore, Thailand, Bangkok

☆ Japanese town overrun with tourists puts up view-blocking barrier near Mount Fuji
▼ + stars: | 2024-05-21 | by ( Lilit Marcus | ) edition.cnn.com time to read: +4 min

CNN —The Japanese town of Fujikawaguchiko has erected a giant black net to block views of Mount Fuji, a reaction to the town’s huge popularity on Instagram and other social media platforms. The small town in Yamanashi prefecture has become the center of an international controversy in recent weeks. Japan’s overtourism problemsThis photo was taken on May 20 in front of Mount Fuji in Fujikawaguchiko -- a day before the black net went up. In this case, it’s not a specific attraction bringing hordes of visitors – it’s a viewpoint where people like to take pictures of Mount Fuji. There have been many accidents involving foreign tourists recently,” Haruhito Tsuchiya, a 49-year-old local who works in the tourism industry, told Reuters.

Persons: ”, Fujikawaguchiko, Kazuhiro Nogi, it’s, “ I’ve, ” Haruhito Tsuchiya, Lawson, Lawson’s Organizations: CNN, Mount, Fuji, Dental Clinic, Clinic, Mount Fuji, Getty, Tokyo –, Reuters, Lawson’s Locations: Fujikawaguchiko, Yamanashi prefecture, Mount Fuji, AFP, Japan, Paris, Hawaii, Tokyo, –, Fuji

☆ 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

☆ C. Gordon Bell, Creator of a Personal Computer Prototype, Dies at 89
▼ + stars: | 2024-05-21 | by ( Glenn Rifkin | ) www.nytimes.com time to read: +1 min

C. Gordon Bell, a technology visionary whose computer designs for Digital Equipment Corporation fueled the emergence of the minicomputer industry in the 1960s, died on Friday in Coronado, Calif. A virtuoso at computer architecture, he built the first time-sharing computer and championed efforts to build the Ethernet. He was among a handful of influential engineers whose designs formed the vital bridge between the room-size models of the mainframe era and the advent of the personal computer. He later joined Microsoft’s nascent research lab, where he remained for about 20 years before being named researcher emeritus. He helped make computing much more widespread and more personal.”

Persons: Gordon Bell, Frank Lloyd Wright, Bell, ”, David Cutler Organizations: Digital Equipment Corporation, Datamation, National Science, of Technology, Innovation, Microsoft Research Lab, Mr, Digital, Microsoft Locations: Coronado , Calif

☆ Read a Transcript of Volodymyr Zelensky’s Interview With The Times
▼ + stars: | 2024-05-21 | by ( ) www.nytimes.com time to read: +1 min

President Volodymyr Zelensky of Ukraine spoke to the Times journalists Andrew Kramer, Philip P. Pan and Bill Brink for 50 minutes at the presidential office in Kyiv on Monday. This transcript of the interview has been edited and condensed for clarity. This is very important, and what we have always asked of President Biden — and not only President Biden, but the leaders of many countries — is that we want to use the weapons for defense. We don’t have long-range shells. You must understand that for the last year and a half, Ukraine hasn’t had any long-range shells.

Persons: Volodymyr Zelensky, Andrew Kramer, Philip P, Pan, Bill Brink, Biden, Biden —, Ukraine hasn’t Organizations: Times Locations: Ukraine, Kyiv, Russia

☆ Britain's inflation rate could be about to drop below the Bank of England's 2% target
▼ + stars: | 2024-05-21 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesLONDON — U.K. inflation could be about to hit a major milestone, with some forecasting that a sharp fall in the April print will take the headline rate below the Bank of England's 2% target. That would represent a plunge from the current level of 3.2% and could "make or break" a June interest rate cut, economists say. Ashley Webb, U.K. economist at Capital Economics, said that if the headline rate does fall below 2% in April, as he expects, it would be "momentous." "This will be crucial in determining whether the first interest rate cut from 5.25% will happen in June (as we expect) or in August. We think inflation will fall further, perhaps even to 1.0% later this year," Webb said in a Friday note.

Persons: Ashley Webb, What's, Webb, —, BOE Governor Andrew Bailey, BOE, Ben Broadbent, James Smith, ING's Organizations: Bloomberg, Getty, Bank of England's, Capital Economics, Bank of England, European Central Bank, ING Locations: Kingston, London, U.K

☆ 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

☆ Iran President Raisi: Days of funeral ceremonies begin as investigators probe helicopter crash
▼ + stars: | 2024-05-21 | by ( Jessie Yeung | Simone Mccarthy | ) edition.cnn.com time to read: +6 min

CNN —Funeral ceremonies are set to begin on Tuesday for the late Iranian President Ebrahim Raisi following his death in a helicopter crash, as authorities probe what caused the aircraft to smash into the side of a remote mountainside during foggy weather on Sunday morning. A helicopter carrying Iran's President Ebrahim Raisi takes off on May 19, 2024, before the crash took place. There is no indication what might have caused the crash – and why so many senior Iranian government officials were traveling in a single, decades-old helicopter. A high-ranking delegation will go to the crash site in Eastern Azerbaijan, according to Iran’s Tasnim news agency. Inside Iran, where many of the country’s restive youth population have grown tired of rule by conservative clerics, Raisi had a much more polarizing legacy.

Persons: Ebrahim Raisi, Ayatollah Khamenei, Mohsen Mansouri, Ali Hamed Haghdoust, Mansouri, Reza, Khamenei, “, ”, Abdulkadir Uraloglu, Uraloglu, Iran’s, ’, Ayatollah Khamenei —, Vladimir Putin, Xi Jinping, Kim Jong, Kim, Xi, Raisi’s, Azin, ” Xi, Putin, Russia, ” Raisi, Raisi Organizations: CNN, Wana News Agency, Reuters, Mehr, Iranian, Turkish Transportation, Infrastructure, TRT, Moj News Agency, AP, Kremlin, US Locations: Tabriz, Iran, Qom, Tehran, Mashhad, Turkey, Turkish, Eastern Azerbaijan, Israel, Korean, Saudi Arabia, Ukraine, China, North Korea, Russia, Iranian

☆ High inflation made finances worse for 65% of Americans in 2023
▼ + stars: | 2024-05-21 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

The Fed on Tuesday released its Economic Well-Being of US Households report for 2023, examining the financial lives of US adults and their families. Inflation made the financial lives “worse” for 65% of US households, according to the report. Three-plus years of high inflation have taken their toll on Americans’ wallets and their psyches. That was especially true in 2022, when US inflation hit 9.1%, its highest annual rate in more than 40 years. Incomes grew healthily in 2023, but so did spending, the Fed report showed.

Persons: ”, Michelle Bowman, Tuesday’s, they’d Organizations: CNN, Reserve, Tuesday, Household Economics, Survey, ”, Federal Reserve

☆ Inquiry Seeks Source of Ketamine That Caused Matthew Perry’s Death
▼ + stars: | 2024-05-21 | by ( Matt Stevens | More About Matt Stevens | ) www.nytimes.com time to read: +1 min

The police in Los Angeles are working with the Drug Enforcement Administration to investigate the source of the ketamine that caused the death of the actor Matthew Perry in October, the authorities said on Tuesday. The inquiry began after investigators determined that ketamine, an anesthetic with psychedelic properties, was the cause of Mr. Perry’s death, Capt. Scot Williams of the Los Angeles Police Department said in a brief interview. Captain Williams said investigators would seek to discover whether the ketamine was obtained legally. TMZ reported earlier that the authorities were still looking into the source of the ketamine.

Persons: Matthew Perry, Perry’s, Scot Williams, Perry, superstardom, Chandler Bing, ”, Captain Williams Organizations: Drug, Administration, Los Angeles Police Department, TMZ Locations: Los Angeles, Los Angeles County

☆ Elvis Presley's granddaughter is trying to halt the sale of Graceland, accusing those involved of using forged signatures
▼ + stars: | 2024-05-21 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +1 min

Riley Keough is fighting to stop the auction of Elvis Presley's Graceland estate. Lisa Marie Presley used Graceland as collateral when taking out a loan, per a public notice. AdvertisementElvis Presley's granddaughter, the actor Riley Keough, is fighting to prevent the auction of his iconic Graceland estate. Last week, a public notice announced the foreclosure sale of the Memphis property. According to the notice, the home was scheduled for a public auction on Thursday at the Shelby County Courthouse.

Persons: Riley Keough, Elvis Presley's, Lisa Marie Presley, Keough, — Organizations: Service, Trust, Naussany Investments, Lending, Business Locations: Memphis, Graceland, Shelby

☆ Nvidia is talk of the town at AI events leading into this week’s earnings
▼ + stars: | 2024-05-21 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

"We're still really early in the AI build," Niles told CNBC's "Money Matters" on Monday. "If you look at today for the AI build out, who's really driving that?" Lam Yik Fei | Bloomberg | Getty ImagesPrior to the recent AI boom, Nvidia was known as the primary maker of chips used for 3D gaming. That's not to say that Nvidia is at risk of losing a ton of the AI chip business to rivals. Piper Sandler analysts expect it to keep at least 75% of the AI accelerator market, even as companies like Google build their own custom chips.

Persons: Jensen Huang, Josh Edelson, Sundar Pichai, that's, Dan Niles, Niles, We're, CNBC's, Bernstein, Mark Zuckerberg, Huang, Lam, Fei, That's, Piper Sandler, Harsh Kumar, Blackwell, Hopper, Morgan Stanley, Joseph Moore Organizations: Nvidia, Intelligence, SAP Center, Afp, Getty, Google, Blackwell, Microsoft, Meta, Niles Investment Management, Cisco, Apple, Nvidia Corp, Bloomberg Locations: San Jose , California, Redmond , Washington, Taipei, Taiwan

☆ Options traders increased bets on GameStop weeks before its price spiked, setting up for gains near 1,000%. Here's the strategy behind it and the probability of it happening again.
▼ + stars: | 2024-05-21 | by ( Laila Maidan | ) www.businessinsider.com time to read: +3 min

Those strike prices were substantially higher than the stock's price, which was trading between $10 to $16.50 that week. But what Sosnick found interesting was that the open interest went up faster for the $30 strike calls, signaling an expectation that the price would really rally this time. The table below shows the rise in open interest on strike calls of 20, 25, and 30 set to expire by May 17 and the price of the contracts. AdvertisementTom Sosnoff, the cofounder of Thinkorswim and Tastytrade, says there's probably a reasonable explanation behind the rise of open interest in GME. As for the rise of open interest on the 30-strike price, he attributes it to the cheapness of those contracts relative to the other strikes rather than a function of price prediction.

Persons: Keith Gill's, Roaring, Gill, Steve Sosnick, Sosnick, GME, Tom Sosnoff, there's, you'd, Sosnoff Organizations: GameStop, Social, Interactive, Traders Locations: GME

☆ Ukraine says it may have destroyed Russia's last cruise missile carrier based out of Crimea
▼ + stars: | 2024-05-21 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Read previewUkraine's navy claims it has likely destroyed the last of Russia's cruise missile carriers operating out of the crucial Black Sea peninsula of Crimea. If confirmed, it would mean there is no longer a Russian missile carrier based out of the key peninsula, he told the outlet. Russia seized Crimea from Ukraine in 2014, and it is home to Russia's Black Sea Fleet headquarters at Sevastopol. The move came amid Ukraine's ongoing campaign against Russian Black Sea ports and warships, using cruise missiles and drones. In April, Ukraine claimed to have destroyed or damaged a third of the Russian fleet.

Persons: —, Dmytro Pletenchuk, KCHF.ru, Pletenchuk, Radio Svoboda Organizations: Service, Radio Free, Business, Fleet, Black, Russian Telegram, Radio, Russian Locations: Crimea, Russian, Russia, Ukraine, Sevastopol, Radio Free Europe, Crimean, Ukrainian, Novorossiysk

☆ Ukraine war live updates: Russia facing labor shortages amid war; Poland arrests nine on charges of Russian-ordered sabotage
▼ + stars: | 2024-05-21 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Russia is currently experiencing a labour shortage in no small part due to the war in Ukraine, with some sectors experiencing significant problems recruiting workers, Britain's Ministry of Defense said Tuesday, noting that the situation could lead to a "mobilisation of labour." In other news, Poland has arrested nine people in connection with acts of sabotage committed in the country on the orders of Russian services. Ukraine's ally Warsaw says it has become a target for Russian intelligence services because it is a hub for military hardware supplies for Kyiv. "We currently have nine suspects arrested and charged with engaging in acts of sabotage in Poland directly on behalf of the Russian services," Polish Prime Minister Donald Tusk told private broadcaster TVN24 late Monday, Reuters reported.

Persons: Warsaw, Donald Tusk Organizations: Britain's Ministry of Defense, Kyiv, TVN24, Reuters Locations: Russia, Ukraine, Poland

☆ Heinrich XIII Prince Reuss: German prince accused of leading coup plot goes on trial
▼ + stars: | 2024-05-21 | by ( Inke Kappeler | Sana Noor Haq | ) edition.cnn.com time to read: +2 min

Heinrich XIII Prince Reuss, 72, is accused of leading the plot, which would have led to him becoming Germany’s head of state. Birgit Malsack-Winkemann, a former judge, attends the Frankfurt trial on Tuesday. The former lawmaker allegedly led co-defendants around the Reichstag parliament to scout the site for a coup plot. In addition to the five judges, two others will be on standby for the Frankfurt trial in the event of a long-term absence. Malsack-Winkemann, an ex-lawmaker for the far-right Alternative for Germany (AfD) party, allegedly led several co-defendants around the Reichstag building scouting the location.

Persons: Heinrich XIII Prince Reuss, Birgit Malsack, Frank, Walter Steinmeier, Kai Pfaffenbach, Maximilian Eder, Ruediger von Pescatore Organizations: CNN, Bundestag, Reuters, Frankfurt, Public Locations: Frankfurt, German, Stuttgart, Munich, Germany, Hesse

☆ 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

☆ Opinion | There’s No Sense of Shame at the Supreme Court
▼ + stars: | 2024-05-21 | by ( Jesse Wegman | ) www.nytimes.com time to read: +1 min

An earlier generation of Supreme Court justices seemed to possess the capacity for shame. In 1969, Justice Abe Fortas resigned his seat for accepting a $20,000 consulting fee (which he returned) from a foundation led by a man who was convicted of securities fraud. Whatever Justice Fortas believed about his own honor and morality, he understood that the Supreme Court is an inherently fragile institution, and that its nine justices cannot afford the slightest whiff of bias or corruption. They are saying, in effect, that they don’t care if any of this bothers you. To go by recent polls showing that this court’s public approval has approached record lows, it bothers many millions of Americans.

Persons: Abe Fortas, Justice Fortas, “, Samuel Alito, Clarence Thomas Locations: Washington

☆ New York tech workers make $135,000 on average, but can't afford the vast majority of apartments on the market
▼ + stars: | 2024-05-21 | by ( Eliza Relman | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Things are so bad that even tech workers, who make some of the highest salaries of any profession, are feeling the crunch. Entry-level tech workers made an average of $75,262 in 2023, and could only afford 2.1% of studio and one-bedroom rental apartments in the city, StreetEasy found. "If these tech employees can't afford housing, then who can?" But even as New York City has created 800,000 new jobs in the last 10 years, it's only built 200,000 new homes. The average tech worker makes 52% more per year than the average worker in New York City, the StreetEasy report noted.

Persons: StreetEasy, Julie Samuels, Samuels, —, Kenny Lee, Eric Adams, Kathy Hochul, Hochul, Adams Organizations: Service, Apple, Business, Tech, New York City, New York State Department of Labor, York City, New York, Yorkers Locations: New York, Manhattan, York City, San Francisco, New York City, StreetEasy, Yorker, York

☆ Iran begins days of nationwide funeral rites for President Ebrahim Raisi after helicopter crash
▼ + stars: | 2024-05-21 | by ( ) www.cnbc.com time to read: +2 min

People attend funeral ceremony, held for Iranian President Ebrahim Raisi and his senior officials died in a helicopter crash, in Tabriz, Iran on May 21, 2024. Thousands of mourners descended on Tabriz on Tuesday for a funeral ceremony honoring Iranian President Ebrahim Raisi, who perished in a helicopter crash over the weekend, leaving an indelible void in the country's leadership succession plans. Some mourners are shown brandishing photographs of Raisi, while others trooped behind lines awaiting the procession. Services for Raisi will be held between Tuesday and Thursday in Tabriz, Qom, Birjand and Iranian capital Tehran. "Our honorable Raisi worked tirelessly," Khamenei said on the X social media platform on Monday.

Persons: Ebrahim Raisi, Hossein Amirabdollahian, IRNA, Ayatollah Ali Khamenei, Raisi, Khamenei, Butcher, Mahsa, Amirabdolahian, Bashar Assad Organizations: Iranian, Islamic Republic News Agency, CNBC, Raisi, Human Rights Watch, Palestinian, Hamas Locations: Tabriz, Iran, Qom, Birjand, Tehran, Mashhad, Azerbaijan, East, Israel

☆ Peloton ‘paused the use of’ Sean ‘Diddy’ Combs’ music on its platform
▼ + stars: | 2024-05-21 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Peloton said it has paused the use of music recorded by Sean “Diddy” Combs on its workout class platform in response to a member of a private Facebook group for Peloton users. In the comment posted on Monday, the company said it also removed the Bad Boy Entertainment Artist Series, a line of classes and workouts using music from a record label founded by Combs, on its platform. “This means our Instructors are no longer using his music in any newly produced classes,” Peloton said in the post. I take full responsibility for my actions in that video,” Combs said in a video statement posted on Instagram on Sunday. In 2022, Peloton said it “indefinitely paused” playing Kanye West’s music from its streaming workout classes after he made antisemitic comments.

Persons: Sean “ Diddy ” Combs, Combs, — Cassie Ventura, ” Combs, “, Kanye, Buddy, CNN’s Jordan Valinsky, Alli Rosenbloom, Elizabeth Wagmeister Organizations: New, New York CNN, Bad Boy, CNN, Ventura Locations: New York

☆ Biden to release 1 million barrels of gasoline to reduce prices at the pump ahead of July 4
▼ + stars: | 2024-05-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The Biden administration will release 1 million barrels of gasoline from reserves held in the Northeast to reduce prices at the pump ahead of the Fourth of July holiday and summer driving season. Rising energy prices stirred speculation in April that the Biden administration might tap the Strategic Petroleum Reserve in Texas and Louisiana ahead of the November presidential election. Though gasoline prices have come down over the past month, broader inflation has remained stubborn, irking consumers. The barrels will be sold from storage sites in New Jersey and Maine that are part of the Northeast Gasoline Supply Reserve, which was established after Superstorm Sandy knocked out refineries in 2012. The Biden administration released 180 million barrels from the SPR in 2022 as energy prices spiked in the wake of Russia's invasion of Ukraine.

Persons: Joe Biden, Biden, Jennifer Granholm, Lael Brainard, Superstorm Sandy Organizations: Eisenhower, Strategic Petroleum Reserve, White, National Economic, AAA, Retailers, Department of Energy, DOE, Northeast Gasoline Supply, Superstorm Locations: Washington ,, Israel, Texas, Louisiana, Iran, New Jersey, Maine, Ukraine

☆ World’s most expensive feather sells at New Zealand auction
▼ + stars: | 2024-05-21 | by ( Rosa Rahimi | ) edition.cnn.com time to read: +3 min

CNN —A feather from a long-extinct New Zealand bird has set a record after selling for $46,521 NZD (about $28,400 USD), the auction house handling the sale has said. The huia bird feather, which was expected to sell for up to $3,000 NZD ($1,830), smashed the estimate on Monday to become the world’s most expensive feather ever sold, Webb’s Auction House said. For Maori, the bird’s feathers were a mark of high status and the distinctive, white-tipped plumage were used for ceremonial headdresses. A Maori chief wears a huia feather in his hair Bettmann Archive/Getty ImagesEuropean New Zealanders also came to see the huia as a symbol of prestige. “People kind of had a frenzy and decided that everyone wanted a huia feather,” said Morris of the event.

Persons: Leah Morris, Duke, Duchess, York, ”, Morris, Johannes Keulemans Organizations: CNN, Museum, New, Getty, New Zealand, New Zealand’s Ministry for Culture and Heritage Locations: Zealand, Auckland, New Zealand, Zealanders, Dutch

☆ China ramps up de-dollarization efforts by dumping a record amount of US bonds
▼ + stars: | 2024-05-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China sold a record $53.3 billion worth of Treasurys and agency bonds in the first-quarter, Bloomberg reported. AdvertisementChina unloaded a record volume of US bonds in the first quarter, escalating the country's pivot from dollar-denominated assets. AdvertisementBy last year, China was already discarding US debt to prop up its yuan, given considerable declines against the dollar. Now, the metal makes up a 4.9% of Chinese reserves, the highest since at least 2015, Bloomberg said. China is also de-dollarizing its reserves as part of a broader movement to diversify global finance, and chip at dollar dominance.

Persons: —, Biden, Donald Trump Organizations: Bloomberg, Service, US Treasury, greenback, Biden Administration, West Locations: China, Beijing, Russia

☆ Red Lobster superfans desperately want a piece of the bankrupt chain
▼ + stars: | 2024-05-21 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +1 min

Red Lobster fans clamored for sentimental items from the iconic chain, but they were out of luck. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRed Lobster superfans were desperate to get their hands on sentimental items from the iconic restaurant chain before dozens of locations were laid to rest. Red Lobster, the largest seafood restaurant chain in the world, began abruptly closing stores across the country last week.

Persons: — Organizations: Service, ABC News, Business

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