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☆ The Tiny Nation at the Vanguard of Mining the Ocean Floor
▼ + stars: | 2024-05-09 | by ( Pete Mckenzie | ) www.nytimes.com time to read: +1 min

Two ships arrived in the Cook Islands in the South Pacific in March of last year. One was a familiar sight: a massive cruise ship, bringing hundreds of tourists to the pristine shores of this nation of 15,000 people. To Mr. Brown, the cruise ship represented his country’s troubling dependence on tourism. He described the other vessel, owned by an international mining company, as a harbinger of incredible wealth. The Cook Islands is at the vanguard of a quest to mine the ocean floor for minerals used in electric car batteries.

Persons: Mark Brown, Brown Organizations: South Pacific Locations: Cook, South

☆ Americans say they hate tourist traps. They also can't stop visiting them.
▼ + stars: | 2024-05-01 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

Read preview"I can't wait for my trip to France — I'm planning to visit all the tourist traps! Despite all the negative connotations around "tourist traps," most travelers to a new place can't help but visit the sites that attract a lot of tourists. AdvertisementThere's room for debate over what exactly counts as a tourist trap — can the historic and gorgeous Venice canals really be considered a tourist trap, even with the souvenir vendors and flocks of selfie-taking visitors? Although nearly all respondents acknowledged recently visiting a tourist trap, almost 70% said their visit to a tourist trap diminished their overall enjoyment of their trip. Avoiding so-called tourist traps, or at least spending less time at them, could also help curb the impacts of overtourism.

Persons: —, Notre Dame —, they've, hadn't Organizations: Service, France —, Louvre, Notre Dame, Business, Winchester Mystery House, UFO Museum, Research Center Locations: France, Paris, Venice, Niagara Falls, Moulin Rouge, Iceland, San Francisco, San Jose , California, Roswell , New Mexico

☆ China's submarine force is stressed by their more realistic training for combat
▼ + stars: | 2024-04-28 | by ( Michael Peck | ) www.businessinsider.com time to read: +9 min

Chinese submarine crews are training to operate farther into the Western Pacific. AdvertisementChina is forcing its submarine crews to endure more intensive and realistic training exercises. Ironically, while rigorous training is intended to create a more skilled and aggressive submarine force, these changes could backfire. "What the literature does suggest is that the PLAN submarine force is simultaneously incorporating a wide range of new operational guidance, platforms, and technologies that are pushing the crews and equipment of the PLAN submarine force in ways they have not been stressed before." "But it still must improve further to be capable of supporting what is expected of the submarine force."

Persons: —, Christopher Sharman, Terry Hess, evaluators, VCG, Crews, submariners, Sharman, Michael Peck Organizations: Pacific, Service, Training, China Maritime Studies, US Naval War, People's Liberation Army Navy, PLA, PLAN, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: China, Pacific, Western, Soviet, Russia, Ukraine, Forbes

☆ A US Navy transport ship deployed to help operate the floating port in Gaza returned home after an engine fire
▼ + stars: | 2024-04-18 | by ( Konstantin Toropin | ) www.businessinsider.com time to read: +5 min

A US Navy ship deployed to help build a floating pier in Gaza returned home after an engine fire. USNS 2nd Lt. John P. Bobo deployed to transport equipment to operate the temporary port. AdvertisementAn M1A1 Abrams tank is off-loaded from the USNS 2nd Lt. John P. Bobo off the shore of Pohang, Republic of Korea. AdvertisementUSNS 2nd Lt. John P. Bobo and USNS Pililaau anchor off the coast of Pohang, Republic of Korea. Australian dock workers secure USNS 2nd Lt. John P. Bobo while members of the U.S. Navy, Marine Corps and Australian Defence Force begin offloading.

Persons: John P, Bobo, —, Pat Ryder, Cpl, Mark W, Stroud, MV Roy P, Baldomero Lopez, Sal Mercogliano, Military.com, Frank S, Besson, Joshua Fulton, Mercogliano, horrendously, I've, You've, Scott Reel, Ryder Organizations: US Navy, USNS, Service, Navy, Pentagon, Army, MV, sealift, Naval Beach, USNI News, U.S . Navy, Marine Corps, Australian Defence Force, Defense Department Locations: Gaza, Jacksonville , Florida, Pohang , Republic of Korea, Tenerife, Africa, Azores, Souda, Greece

☆ Disney's parks are its top money maker — and it plans to spend $60 billion to keep it that way
▼ + stars: | 2024-04-07 | by ( Sarah Whitten | ) www.cnbc.com time to read: +12 min

It had been more than a year since the Covid pandemic had forced Disney's domestic parks to shutter, but D'Amaro, chair of Disney's experiences division, was confident guests would flood back in when the gates reopened. Revenues fell 35% in 2020, a nearly $10 billion decrease from the $26.2 billion the experiences division had tallied in the year before the pandemic. The experiences division posted record revenue of $32.5 billion in fiscal 2023, a 16% increase from the prior year. Its innovations, from ride mechanics and animatronics to creature design and immersive architecture, have made Disney's parks a standout in the industry. Storytelling is at the heart of everything across Disney's experiences division.

Persons: Mickey Mouse, Ian Langsdon, Josh D'Amaro, D'Amaro, Bob Chapek, D'Amaro —, Walt Disney, King Arthur Carousel, Christian Thompson, you've, it's, Bob Iger, Nelson, Walt Disney Imagineering, Rey, Kylo Ren, Judy Hopps, Imagineers, CNBC —, Lewis, Disney, Imagineering, Matt Stroshane, Alan Bergman Organizations: Paris, Afp, Getty, Gibson, Disney, Walt Disney Imagineering, Hong Kong Disneyland, Walt Disney, Guardians, Magic Kingdom, Epcot, Star Wars, California Disneyland's, Walt Disney Imagineering's, Disney Engineers, Force, Southwest, CNBC, Galactic, Marvel Locations: California, Burbank, Disneyland, Hong Kong, Shanghai Disneyland, Florida, Epcot, Magic, Wharf, Disneyland's, Disney's, Edge

☆ Regenerative tourism is the new gold standard for resort development. This destination on the Red Sea is leading the way.
▼ + stars: | 2024-04-03 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

A development organization in Saudi Arabia is changing perceptions of how regenerative tourism can work. He took a different course: Building a vertically-integrated real estate company to deliver The Red Sea. Across its two larger destinations, The Red Sea and AMAALA, RSG is creating 120,000 new jobs, directly and indirectly. Destinations like The Red Sea and AMAALA aim to build a broader, more leisure-focused tourism sector. This article was created by Insider Studios with Red Sea Global.

Persons: John Pagano, Pagano, St Regis, RSG, RSG —, King Abdullah, I've, University of Prince Mugrin, We're Organizations: Red Sea, St, Ritz, Carlton Reserve, imminently, King, King Abdullah University of Science and Technology, KAUST, Saudi, Hospitality, University of Prince, Tourism, Insider Studios, Sea Locations: Saudi Arabia, London, Bahamas, RSG, Central, Saudi, Red

SYDNEY (AP) — Taylor Swift’s father will not be charged over a paparazzi photographer's claim that Scott Swift assaulted him on the Sydney waterfront hours after the pop star’s Australian tour ended last month. Taylor Swift’s representatives responded by accusing members of the media of aggression during the interaction. Police began investigating the incident at the time and announced Wednesday that “no further police action” would be taken. "No offences were detected, and the investigation was concluded with no further police action required,” said the statement from the New South Wales Police Force. More than 600,000 fans saw the Australian leg of her Eras Tour at seven Australian stadium concerts.

Persons: — Taylor Swift’s, Scott Swift, Ben McDonald, Taylor Swift’s, ” Organizations: SYDNEY, Police, New South Wales Police Force

☆ Taylor Swift’s father will not face charges for alleged paparazzi assault, Australian police say
▼ + stars: | 2024-03-26 | by ( Heather Chen | Hilary Whiteman | ) edition.cnn.com time to read: +2 min

CNN —Taylor Swift’s father will not face charges for allegedly assaulting a paparazzi photographer in Sydney last month, Australian police have confirmed. “No further police action” would be taken, the spokesperson said of the case involving Swift’s 71-year-old father Scott, dubbed “Papa Swift” by many of the megastar’s fans. Sharing his account with CNN, McDonald said one of Swift’s security guards had forced an umbrella into his face and camera. Scott Swift punched him after that, he said. In response to McDonald’s claims, a spokesperson for Swift told CNN that threats had been made against a member of her staff.

Persons: CNN — Taylor Swift’s, “, ”, Scott, “ Papa Swift, Ben McDonald, Scott Swift, McDonald, Swift’s, ” McDonald, Swift, Taylor Organizations: CNN, New, Police Force, NSW Locations: Sydney, New South Wales, NSW, Sydney Harbor, Australia

☆ Gucci owner Kering tanks 14% after Asia profit warning, dragging down Europe luxury brands
▼ + stars: | 2024-03-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

A Gucci store at Harbour City shopping mall, operated by Wharf Holdings Ltd., in Hong Kong, China, on Friday, June 2, 2023. Shares of French luxury group Kering plunged 14% on Tuesday after the company warned that Gucci sales look set to fall 20% year-on-year in the first quarter, amid declining Asia transactions. Kering plunged to the bottom of the Stoxx 600 after a delayed open, dragging other European luxury lines with it. Gucci comparable revenues in the first quarter are expected to be down by nearly 20% year on year." The slowdown is expected to derive primarily from Asia — and chiefly from China, whose economy has been struggling.

Persons: Gucci, Kering, Christian Dior, Hermes, Burberry Organizations: Wharf Holdings Ltd, Gucci, Asia — Locations: Harbour City, Hong Kong, China, Asia, London, Pacific

There, at a yet-to-be-announced location along the Gaza shore, they will build and begin to operate a floating dock to receive the aid. Off shore, the Army will build a large floating platform where ships can unload large containers of aid. The brigade’s commander, Army Col. Sam Miller, said about 500 of his soldiers will participate in the mission. The last time the 7th Transportation Brigade did a similar mission to construct a large pier was in Haiti in 2010. Miller said a larger Maritime Sealift Command ship will also be leaving Virginia in the coming days, and will be carrying some of the bigger equipment and more of the steel pier segments.

Persons: James, Joe Biden, Sam Miller, Miller, “, ” Miller, Frank S, Besson, — Organizations: WASHINGTON, U.S . Army, Base, Gaza Health Ministry, U.S, Army, Pentagon, Officials, 7th Transportation Brigade, Defense, Biden, Maritime Sealift Command Locations: Virginia, Gaza, U.S, Eustis, Israel, Matamoros, USAV Monterrey, Haiti, Saturday

☆ Hot on the trail of cherry blossoms — peak times for 2024
▼ + stars: | 2024-03-02 | by ( Forrest Brown | ) edition.cnn.com time to read: +4 min

Editor’s note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. CNN —In travel news this week: Circling the calendar for peak cherry blossoms, a very rare peek at post-pandemic North Korea and the insightful confessions of a Vegas habitué. While peak bloom can still be up in the air, the dates for the National Cherry Blossom Festival are solidly locked down: March 20-April 14. Meanwhile, Japanese forecasters are out with their own cherry blossom, or sakura, predictions. 02:06 - Source: CNNIn the best of times, a visit to communist North Korea was a rarity.

Persons: Brandon Griggs, He’s, Willy Wonka Organizations: CNN, Washington , D.C, Bloom Watch, National Cherry Blossom, –, Air Albania, AAA Locations: Korea, Netherlands, France, Washington ,, Japan, Wharf, Kochi, Tokyo, wintry Sapporo, Dubai, Atlanta, Air, London, India, United States, North Korea, Russia, Pyongyang, Masikryong, North, Las Vegas, Sin

☆ U.S. cautions Pacific Island nations about China security ties after Hawaii neighbor Kiribati gets Chinese police
▼ + stars: | 2024-02-28 | by ( ) www.cnbc.com time to read: +2 min

BEIJING, Jan. 6, 2020 -- Chinese Premier Li Keqiang meets with Kiribati's President Taneti Mamau at the Great Hall of the People in Beijing, capital of China, Jan. 6, 2020. The United States on Monday cautioned Pacific Islands nations against assistance from Chinese security forces after Reuters reported that Chinese police are working in the remote atoll nation of Kiribati, a neighbor of Hawaii. Kiribati's acting police commissioner Eeri Aritiera told Reuters last week uniformed Chinese officers were working with police in community policing and a crime database program. "We are concerned about the potential implications security agreements and security-related cyber cooperation with the PRC may have for any Pacific Island nation's autonomy," the spokesperson said. The United States countered with a pledge in October to upgrade the wharf on Kanton island, a former U.S. military base, and said it wants to open an embassy in Kiribati.

Persons: Li Keqiang, Taneti Mamau, Eeri Aritiera Organizations: of, People, Monday, Pacific, Reuters, U.S . State Department, world's, United Locations: BEIJING, Beijing, China, United States, Kiribati, Hawaii, Honolulu, People's Republic of China, Washington, Kanton, U.S

☆ Photographer who accused Taylor Swift's father of assaulting him says he's never been 'punched in the chops, particularly by the talent's dad'
▼ + stars: | 2024-02-27 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +3 min

Photographer Ben McDonald accused Taylor Swift's dad of punching him in Sydney, Australia. He said he's never been "punched in the chops, particularly by the talent's dad." AdvertisementA photographer accused Taylor Swift's dad, Scott Swift, of punching him as he tried to take her photo in Australia in the early hours of Tuesday morning. "Police have been told a 71-year-old man allegedly assaulted a 51-year-old man at Neutral Bay Wharf about 2.30am before leaving the location," a New South Wales Police spokesperson told Business Insider. "In 23 years, I haven't been assaulted and punched in the chops, particularly by the talent's dad," McDonald told the Associated Press.

Persons: Ben McDonald, Taylor Swift's, McDonald, he's, —, Scott Swift, Taylor, haven't, didn't, Nicole Kidman, Nicole, Ben McDonald's Organizations: Service, Police, New South Wales Police, North Shore Police Area Command, Swift, Daily Mail Australia, Associated Press, Business Locations: Sydney, Australia, New, Australian

Sydney CNN —An Australian photographer has filed a police complaint against Taylor Swift’s father, Scott Swift, for allegedly punching him as the superstar left a concert afterparty in Sydney in the early hours of Tuesday. Photographer Ben McDonald, 51, told CNN he learned the singer was aboard a yacht in Sydney Harbor following her final show in the city on Monday night. He claimed when Swift got off the boat, a security guard forced an umbrella into his face and camera, before he was punched by the star’s 71-year-old father. In a statement to CNN, Swift’s spokesperson claimed threats had been made against a member of her staff. Swift performed in Sydney and Melbourne for the Australia leg of her global “Eras Tour,” continuing her string of concerts across the Asia-Pacific region; earlier in February, she performed in Tokyo, and is set to perform in Singapore in March.

Persons: Taylor Swift’s, Scott Swift, Ben McDonald, Swift, Swift’s, ”, Taylor Organizations: Sydney CNN —, CNN, New South Wales Police, Australia Locations: Australian, Sydney, Sydney Harbor, New, Melbourne, Asia, Pacific, Tokyo, Singapore

☆ Barclays jumps 8.6% after announcing major strategic overhaul
▼ + stars: | 2024-02-20 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

LONDON — Barclays on Tuesday reported a fourth-quarter net loss of £111 million ($139.8 million) as the British lender announced an extensive strategic overhaul, boosting its shares more than 8.6% through the day. For the full year, net attributable profit came to £4.27 billion, down from £5.023 billion in 2022 and below a consensus forecast of £4.59 billion. Credit impairment charges were £552 million, up from £498 million in the fourth quarter of 2022. The business will now be divided into five operating divisions, separating the corporate and investment bank to form: Barclays U.K., Barclays U.K. Corporate Bank, Barclays Private Bank and Wealth Management, Barclays Investment Bank and Barclays U.S. Consumer Bank. Barclays is targeting total gross cost savings of £2 billion and an RoTE of greater than 12% by 2026.

Persons: C.S, Venkatakrishnan, Mariva Rivas, DBRS Morningstar, Rivas Organizations: Citigroup Inc, State Street Corp, Barclays Plc, HSBC Holdings Plc, LONDON, Barclays, Reuters, Momentum, Corporate Bank, Barclays Private Bank, Wealth Management, Barclays Investment Bank, Barclays U.S . Consumer Bank, CNBC, U.S Locations: Wharf

☆ Shark Attacks Woman Swimming in Sydney Harbour
▼ + stars: | 2024-01-29 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

SYDNEY (Reuters) - A woman swimmer was seriously injured in a shark attack in Sydney Harbour and had been taken to the hospital in a stable condition, authorities said on Tuesday. Police said they had been told the woman was swimming off the wharf when the shark attacked her. While shark sightings along Sydney's ocean-facing beaches are common, attacks in its iconic harbour are rare. Monday's incident took place near the Opera House and Harbour Bridge. "Shark bites are really rare ... the last incident that occurred in Sydney Harbour was in 2009," Amy Smoothey, senior shark scientist at the New South Wales department of primary industries, told the Australian Broadcasting Corp.Based on the bite patterns and images provided, the woman was likely attacked by a bull shark, Smoothey said.

Persons: Amy Smoothey, Smoothey, Renju Jose, Michael Perry Organizations: SYDNEY, Police, Opera, New South, Australian Broadcasting Corp Locations: Sydney Harbour, Elizabeth Bay, New South Wales, Sydney

☆ My daughter and I toured 9 colleges together. It was a great bonding experience that brought us closer together.
▼ + stars: | 2024-01-26 | by ( Andrew Flannery | ) www.businessinsider.com time to read: +5 min

Last year, my daughter and I took several trips to tour nine colleges. AdvertisementAfter viewing nine colleges together, I watched as my daughter came out of her shell. AdvertisementThe trips to colleges brought my daughter and me closer togetherAt each school, I bought a hat and my daughter bought a sweatshirt or T-shirt. Throughout it all, we found ourselves, already a tight father-daughter duo, getting closer because of the experience. Searching for a college can be nerve-racking, but we realized it could also be a fun bonding experience.

Persons: —, we'd, She'd, We'd Organizations: Service, University of Washington, University of Southern, USC, Claremont Colleges, University of California, UC San Diego, Santa Cruz, San Diego, Santa Locations: West Coast, Seattle, West, Los Angeles, University of Southern California, Santa Cruz, San Diego, Santa Monica, Santa Ana, California

☆ London stock market trading resumes after small cap outage
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. "Impacted securities are now in regular trading," LSEG said in a notice published on its website. FTSE 100 (.FTSE), FTSE 250 (.FTMC) and International Order Book securities - shares listed in London by overseas companies - had continued to trade normally, the exchange said. It is the second time LSEG has flagged a disruption to trading in smaller stocks on the London market in less than two months. In 2019, the London Stock Exchange suffered an almost two-hour outage that hit FTSE 100 and midcap stocks, which LSEG said was caused by a “technical software issue”.

Persons: Toby Melville, LSEG, Thomson, Danilo Masoni, Alun John, Amanda Cooper, Kirsten Donovan Organizations: London Stock Exchange, REUTERS, Tullow, CMC, FTSE, Thomson Reuters, Reuters, Thomson Locations: Canary Wharf, London, Britain, LSEG

☆ Global banks face negative outlook, property stress in 2024 - Moody's
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Dec 4 (Reuters) - Sluggish global growth, a higher risk of borrowers defaulting on loans and pressure on profitability mean that banks face a negative outlook in 2024, credit rating agency Moody's said on Monday. Pockets of stress in property markets in the Asia-Pacific region were also likely to continue, the report said. Moody's said in its report that it expected money to remain tight next year, lowering economic growth even as central banks are expected to start cutting rates. China's growth is also set to slow amid muted spending by consumers and businesses, weak exports and an ongoing property crunch, the report said. However, capital levels - which underpin the financial soundness of banks - are expected to broadly hold up, the report said.

Persons: Toby Melville, Moody's, Felipe Carvallo, Iain Withers, Chizu Organizations: Bank of, REUTERS, Moody's Investors Services, Bank, Moody's Investors Service, Thomson Locations: Canary, Bank of England, London, Britain, United States, Europe, Asia, Pacific

☆ Private equity double-dips are a tasty faux pas
▼ + stars: | 2023-12-04 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

Private equity groups are trying something similar in the capital markets: successfully listing a company, then coming back for a second bite by buying it back once its stock craters. Take Synlab (SYAB.DE), listed at the height of a Covid-19 boom in testing by investment group Cinven. European companies listed by private equity groups since 2020 are trading, on average, at a 22% discount to their IPO price, according to data from Dealogic and Breakingviews calculations. The message from such deals, however, is that it’s better to buy a private equity-owned company after it has listed. Follow @aimeedonnellan on XCONTEXT NEWSPrivate equity firm Cinven on Sept. 29 offered 10 euros a share to take Covid test maker Synlab private.

Persons: Russell Boyce, Synlab, Cinven’s, Cinven, Sweden’s, Dr Martens, Elliott, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, Revenue, Thomson Locations: London, Britain, Cinven, France, Dealogic, Permira, Synlab

THITU ISLAND, South China Sea (AP) — The Philippine coast guard inaugurated a new monitoring base Friday on a remote island occupied by Filipino forces in the disputed South China Sea as Manila ramps up efforts to counter China’s increasingly aggressive actions in the strategic waterway. It’s pure bullying,” Ano told reporters after the ceremony, describing the actions of Chinese ships as flouting international law. Surrounded by white beaches, the tadpole-shaped Thitu Island is called Pag-asa — Tagalog for hope — by about 250 Filipino villagers. It’s one of nine islands, islets and atolls that have been occupied by Philippine forces since the 1970s in the South China Sea’s Spratlys archipelago. Speaking in Honolulu, where he met U.S. military leaders about two weeks ago, Marcos said the situation in the South China Sea “has become more dire” with China showing interest in atolls and shoals that are “closer and closer” to the Philippine coast.

Persons: Thomas Shoal, it’s, Eduardo Ano, ” Ano, Ano, ”, Daisy Cojamco, asa —, Ferdinand Marcos Jr, Rodrigo Duterte, Xi Jinping, Vladimir Putin, Duterte, Marcos, ” Marcos Organizations: National, Philippine, Associated Press, Washington, South China Locations: THITU, South China, Philippine, China, Manila, United States, Philippines, Asia, Thitu, Pag, Palawan, Vietnam, Australia, Beijing, U.S, Japan, Honolulu, South, asia

☆ New billionaires getting rich via inheritance rather than entrepreneurship in 'great wealth transfer'
▼ + stars: | 2023-11-30 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

A new wave of billionaires acquired more wealth through inheritance than entrepreneurship during the last year as a "great wealth transfer" picks up steam, a new report by UBS found. Fifty-three heirs received a total of $150.8 billion, which is higher than the $140.7 billion brought in by 84 new self-made billionaires, the report shows. "The great wealth transfer is gaining significant momentum," Benjamin Cavalli, head of UBS global wealth management strategic clients, told reporters in a briefing on Wednesday. Overall billionaire wealth is recovering, with the number of billionaires being up by 7% in the 12 months to early April of 2023, the UBS analysis showed. Billionaire wealth rose by 9% in this time and ended at around $12 trillion in nominal terms.

Persons: Benjamin Cavalli Organizations: UBS Locations: South Dock, Wharf, London, United Kingdom

Brokerage TD Cowen lowered its U.S. holiday spending estimate to 2% to 3% growth, from 4% to 5%, as it forecast flat Black Friday traffic. With many consumers squeezed by persistent inflation and high interest rates, U.S. holiday spending is expected to rise at the slowest pace in five years. A record 130.7 million people are expected to shop in stores and online in the U.S. on Black Friday this year, the National Retail Federation (NRF) estimates. In France, Italy, and Spain, most shoppers planned to buy clothing on Black Friday, with electronic goods coming second, according to a PwC survey. Thanksgiving Day discounts online peaked at about 28% for toys, while electronics had discounts as steep as 27%, Adobe said.

Persons: Shannon Stapleton, Cowen, Theresa Forsberg, “ It’s, ”, Jill Lizzo, she’s, “, I’m, Lizzo, PwC, hasn’t, Naomi Ojomo, Jeff Gennette, Barbie, John Roberts, Apple AirPods, Bergdorf Goodman, Nordstrom, Oscar de, Katherine Masters, Arriana McLymore, Helen Reid, Mimosa Spencer, Corina Pons, James Davey, Siddharth Cavale, Arriana, Deboarh Sophia, David Gaffen, Miral Fahmy, Nick Zieminski, Frances Kerry Organizations: Black, REUTERS, Shoppers, National Retail Federation, Insider Intelligence, Barclays, Macy's, Adobe Analytics, Adobe, Walmart, Argos, PlayStation, Apple, Thomson Locations: Westbury , New York, U.S, RALEIGH, N.C, New Milford , Connecticut, . U.S, Harlem, Manhattan, France, Italy, Spain, Zara, Canary Wharf, London, British, Paris, Madrid, New York, Raleigh , North Carolina, Bengaluru

☆ British investment managers get green light for tokenised funds
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kevin Coombs/File Photo Acquire Licensing RightsLONDON, Nov 24 (Reuters) - British investment managers have got the go-ahead to develop tokenised funds, in which assets are split into smaller tokens backed by blockchain technology, the industry's trade body said on Friday. Tokenisation, or fractionalisation, of funds will enable a fund's assets to trade more cheaply and transparently and investors to buy into a wider range of assets, industry proponents say. Funds authorised by Britain's Financial Conduct Authority can take the first steps towards offering tokenised funds, provided the investments are in mainstream assets and valuation and settlement arrangements don't change, the Investment Association said in a statement. Scrimgeour is chair of a working group which is working with the FCA and Britain's finance ministry to open up opportunities for tokenised funds. Investment managers and exchanges in the United States, Europe and Asia have already taken tentative steps in offering tokenised funds.

Persons: Kevin Coombs, tokenisation, Michelle Scrimgeour, Scrimgeour, Carolyn Cohn, Elizabeth Howcroft, Sharon Singleton Organizations: REUTERS, Britain's Financial, Investment Association, Legal, General Investment Management, FCA, BlackRock, Investment, Thomson Locations: Canary Wharf, London, Britain, United States, Europe, Asia

☆ LSEG names Publicis finance chief Michel-Alain Proch as CFO
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: 1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsNov 20 (Reuters) - The London Stock Exchange Group (LSEG.L) on Monday named Michel-Alain Proch as its new finance chief, starting March 1, 2024. Proch, who currently serves as group CFO of advertising group Publicis <PUBP.PA>, takes on the role from Anna Manz, who stepped down in May. Last week, LSEG, which owns London's 300-year old stock exchange, raised its mid-term growth guidance to "mid-to-high single" digits and said it would return a billion pounds to shareholders in 2024 as it looks beyond the integration of data and analytics company Refinitiv. Reporting by Eva Mathews in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Michel, Alain Proch, Proch, Anna Manz, Eva Mathews, Sonia Cheema Organizations: London Stock Exchange, REUTERS, Thomson Locations: Canary Wharf, London, Britain, Bengaluru

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