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It’s a very different matter in Europe — by far the biggest export market for Chinese EV manufacturers. EU tariffs could backfireAccording to Citi, the EU accounted for 36% of Chinese EV exports last year, more than the next five largest markets combined. By contrast, the United States currently receives just 1.1% of China’s EV exports. For BYD, China’s biggest EV maker, the tariffs would likely have to be even higher to be effective, they add. “I’d say we are entering a very tense period in terms of trade interactions and trade defense,” she added.
Persons: Joe Biden, “ I’m, ” Biden, Joseph Webster, Agatha Kratz, Kratz, That’s, Oliver Zipse, , Tu Le, , Josh Lipsky, Juliana Liu Organizations: London CNN, United, EV, European Union, Atlantic Council, EU, CNN, Citi, Capital Economics, BMW Locations: China, America, Europe, United States, It’s, Brussels, “ Brussels, Beijing, subsidization, EU, States, Italy, Hong Kong
After drawing up a plan for 20 hires this year by the city administration, the head of the municipal personnel department plugged it into the Balancer — a website run by the government of the Balkan nation of North Macedonia. Seconds later, he received a chart giving the mandatory ethnic breakdown of the people to fill the jobs: 16 ethnic Albanians, three ethnic Macedonians and one Roma. The computer-generated quotas, which match the size of different communities in the heavily ethnic Albanian city of Tetovo, in the country’s northwest, are part of one of the world’s most comprehensive and rigidly mathematical government programs aimed at enforcing ethnic diversity through affirmative action. Critics say it puts ethnicity above merit, while supporters credit it with helping to pull the country back from ethnic civil war. Both sides agree the program has become riddled with fraud, especially as ethnic-based political parties try to game the system, and that it and other efforts to promote diversity have contributed to the proliferation of unnecessary state sector jobs.
Locations: Balkan, North Macedonia, Albanian, Tetovo
He then declared Johnson the winner, with video footage showing a confused Hughes shaking her head. Hennessey took to Facebook after the fight to apologize and accept “full responsibility” for the mistake, writing on Sunday: “I own it. It’s all on me.”He added: “I have apologized to all involved and now I apologize to you. Not my best day in the office.”Nina Hughes was confused after being announced as the winner before the fight was awarded to Johnson. I was just about to do the post-fight interview but then they started dragging me back by my hand.
Persons: ” Dan Hennessey, Nina Hughes, Cherneka Johnson, Vasiliy, George Kambosos Jr, Hughes, Hennessey, Johnson, , ” Nina Hughes, Richard Wainwright, , ” Hennessey, ” Hughes, I’d, I’ve, ’ ”, ‘ What’s Organizations: CNN, Boxing Association, WBA bantamweight, New Zealand, Facebook, Guardian, WBA Locations: Perth, Australia
Burberry’s profit slumps by a third as sales in China plunge
  + stars: | 2024-05-15 | by ( ) edition.cnn.com   time to read: +2 min
London — British luxury brand Burberry has reported a 34% drop in annual profit after sales fell sharply in China — its biggest market — in the final three months of last year. The company had previously warned that achieving its goal of taking the 168-year-old brand further upmarket, to become the definition of “Modern British Luxury,” had been harder than expected after demand for luxury had slowed. Sales fell 12% in the final quarter, dragged down by a 19% slump in China, and wiping out gains made earlier in the year, Burberry said Wednesday. Sales in London, its home market, declined 17%, which Chief Executive Jonathan Akeroyd blamed on a lack of tax-free shopping for tourists. The world’s largest luxury group, Louis Vuitton owner LVMH, also reported weak sales in its latest quarter as spending on luxury items slowed.
Persons: , Burberry, Jonathan Akeroyd, ” Akeroyd, Akeroyd, Hermes, Prada, Kerring, Louis Vuitton, LVMH, Daniel Lee Organizations: London, Burberry, London Fashion Locations: China, London, Paris, Europe, British, Burberry’s, Americas
Most non-retired adults have some type of retirement savings, but only 36% think their savings are on track. New research from economists at the Federal Reserve Bank of New York finds that this retirement savings deficit hasn’t made a dent in when Americans plan to exit, or partially exit, the workforce. “The pandemic-induced change in retirement expectations may continue to affect the labor market in years to come,” they wrote. Yes, but: This is a survey of expectations, researchers at the New York Fed are quick to point out. Just because Americans say they plan to shift to part-time work or retire early, it doesn’t mean that they’ll be able to.
Persons: Felix Aidala, Gizem Kosar, Wilbert van der, , They’re, Alicia Wallace, delinquencies, Joelle, CNN’s Parija, Donna Morris, Morris, ” Morris Organizations: CNN Business, Bell, New York CNN, Census, Federal Reserve Bank of New York, Social Security, New, Survey, SCE, triannual, Social, Social Security Agency, Lawmakers, New York Fed, Federal Reserve Bank of New, , Public Policy Research, Credit, Walmart, CNN, San Francisco Bay Area Locations: New York, United States, York, Federal Reserve Bank of New York, Bentonville , Arkansas, Walmart’s Dallas, Atlanta, Toronto, Bentonville, San Francisco Bay, Hoboken , New Jersey
She had been in jail since January 26 and was awaiting trial, according to legal advocacy group Thai Lawyers for Human Rights. While in detention, Netiporn went on a 65-day hunger strike until April to protest the jailing of political dissidents without bail, the group said. Panu Wongcha-Um/Reuters/FileThe activist faced seven criminal cases, including two lese majeste charges. Those attending included Panusaya “Rung” Sithijirawattanakul, a fellow activist who also faces lese majeste charges for her involvement in the 2020 protests. At least 270 people have been charged with lese majeste during that time, the group added.
Persons: Thailand’s, , , Netiporn, Thalu Wang, Thais, Panu, Panusaya, lese, Srettha Thavisin, Srettha, Strettha, Mongkol Thirakhot, majeste, Akarachai Chaimaneekarakate, Akarachai Organizations: CNN, ” Thailand’s Corrections Department, Thammasat University Hospital, Thai Lawyers for Human Rights, Thai Corrections Department, Bangkok Criminal Court, Thailand’s Ministry, Justice, Rights, United Nations Human Rights Council, European Union Locations: Bangkok, Thailand, Thai, lèse
The WWA report divided the heat waves into three areas: West Asia, the Philippines and a region spanning South and Southeast Asia. However, the impact of climate change there was greater, increasing temperatures by about 1.2 degrees. Climate change also played a pronounced role in this region, according to the analysis, making the heat 45 times more likely and 0.85 degrees Celsius hotter. “Many cities have seen extreme losses of green space,” Pereira said, increasing the impacts of extreme heat on residents. If not, she added, “extreme heat will lead to even greater suffering in Asia.”
Persons: Jehad, ” Friederike Otto, El, Idrees Mohammed, Otto said, ” Otto, Carolina Pereira Marghidan, ” Pereira, , Mariam Zachariah Organizations: CNN, WWA, Getty, Grantham Institute, Climate, Environment Locations: Gaza, West Asia, Philippines, South, Southeast Asia, Syria, Lebanon, Israel, Jordan, Rafah, Anadolu, Delhi, Manila, Asia, West, Raipur, India, AFP, Myanmar, Laos, Vietnam, , Bangladesh, Thailand
New York CNN —Walmart said Tuesday it is eliminating several hundred corporate jobs and will relocate most of its remaining remote office staff to its Bentonville, Arkansas, headquarters. Walmart confirmed the move in a memo sent by Donna Morris, its chief people officer, to employees on Tuesday and obtained by CNN. The relocation will impact the majority of workers in Walmart’s Dallas, Atlanta and Toronto offices. While most relocations will be to its Bentonville headquarters, some workers will be relocated to Walmart offices in the San Francisco Bay Area or to Hoboken, New Jersey, and the New York area. “In addition, some parts of our business have made changes that will result in a reduction of several hundred campus roles,” Morris said in the memo.
Persons: Donna Morris, Morris, , ” Morris Organizations: New, New York CNN, Walmart, CNN, San Francisco Bay Area Locations: New York, Bentonville , Arkansas, Walmart’s Dallas, Atlanta, Toronto, Bentonville, San Francisco Bay, Hoboken , New Jersey
For decades, China has moved methodically to dominate ever more industries, from toys and clothing in the 1980s to semiconductors and renewable energy today. China now produces a third of the world’s manufactured goods — more than the United States, Germany, Japan, South Korea and Britain combined. Its trade surplus in these goods is equal to a tenth of the entire Chinese economy. Top leaders in the United States and Europe have begun calling on China to dial back how much it sells to the world, and to increase its imports. On Tuesday, President Biden is expected to raise U.S. tariffs sharply on imports from China of electric cars, solar panels and other high-tech manufactured goods.
Persons: Biden Locations: China, United States, Germany, Japan, South Korea, Britain, Europe
CNN —On Monday, Melinda French Gates announced her resignation from the Bill and Melinda Gates Foundation, officially ending one of the world’s leading philanthropic partnerships. In French Gates’ 2008 Fortune profile, Buffett said French Gates helped focus the foundation’s mission. In addition to French Gates, Gates and Buffett, The Giving Pledge counts billionaires like Mark Zuckerberg, Elon Musk and MacKenzie Scott as signatories. French Gates has a net worth of $13.3 billion, according to the Bloomberg Billionaires Index, while Bill Gates’ net worth is $153 billion. French Gates’ departure from the Bill and Melinda Gates Foundation has been hinted at since the couple announced their divorce in May 2021.
Persons: Melinda French Gates, Melinda Gates, Gates, Bill Gates, Melinda Gates ’, Warren Buffett, Buffett, ” Buffett, Mark Zuckerberg, Elon Musk, MacKenzie Scott, , French Gates Organizations: CNN, Melinda Gates Foundation, Microsoft, Duke University, Fortune Magazine, Gates Library Foundation, Berkshire Hathaway, Bloomberg, Rutgers ’ Center, American Women Locations: United States, Fortune, , Gates, French, Politics
CNN —Venezuela continues to build up military infrastructure and hardware close to the border with Guyana as President Nicolas Maduro and his supporters scale up their threats to annex an oil-rich piece of Guyanese land. Guyana had called the move a step towards annexation and an “existential” threat as the specter of armed conflict loomed over the region. Using satellite imagery and social media, CSIS found that the expansion of Anacoco Island’s military base has continued. Maduro could ‘fall victim to own rhetoric’The threats to Guyana have concerned its partners. “Thus, one of the most concerning possibilities is that Maduro will fall victim to his own rhetoric.
Persons: Nicolas Maduro, , ” Ryan Berg Organizations: CNN, Strategic, International Studies, Venezuelan, US Navy, Americas, CSIS Locations: Venezuela, Guyana, Washington, Venezuelan, Essequibo, Punta Barima, arm’s, Essequibo ”, Guyanese, Georgetown, Idaho
Now, new research has revealed that there are two distinct species of giant hummingbird in South America — the northern giant hummingbird that lives year-round in the Andes, and the migratory southern giant hummingbird — and they have been evolving separately for millions of years. A southern giant hummingbird is seen flying from its breeding grounds in central Chile. “We wanted to finally solve this mystery.”Designing backpacks for hummingbirdsGiant hummingbirds differ from hundreds of other hummingbird species in many other ways. A southern giant hummingbird is fitted with a tiny backpack-like geolocator tracking device in central Chile. “The two forms of giant hummingbird look almost identical — for centuries, ornithologists and birders never noticed that they were different.
Persons: Charles Darwin, Darwin, Chris Witt, , Jessie Williamson, , ” Williamson, Emil Bautista, Williamson, Christopher Witt, birders, ” Witt, chaskis, “ I’m Organizations: CNN, HMS, National Academy of Sciences, National Science Foundation, Cornell, of Ornithology, Swifts, Centro, Biology, Museum of Southwestern, University of New Locations: New York City, Buenos Aires, South America, Chile, Ithaca , New York, Peru, Biodiversidad, Lima, Peruvian, Chilean, University of New Mexico, Inca
Pyongyang – which has an economy almost entirely dependent of China – is believed by Western governments to be aiding Russia with war supplies. Xi has ramped up his calls for Europe and other countries to help the world avoid a “Cold War,” suggesting they resist what Beijing sees as US efforts to contain China. They have also criticized Israel and the United States – converging with mounting global backlash, especially across the Global South against Israel’s war. The conflict has also impacted how China and Russia view their relations with countries there, he added. China “wants to use Russia” for its aims, but Russia is making China weak, he said.
Persons: Xi Jinping, Vladimir Putin, Putin, , It’s, China –, Xi, France –, Jens Stoltenberg, Sergei Guneyev, , Li Mingjiang, Manoj Kewalramani, Russia doesn’t, Stringer, Gaza —, Sergey Lavrov, presser, Wang Yi, Israel, , Privately, Shen Dingli, China “, Alexander Dugin, Donald Trump, Li Organizations: Hong Kong CNN, West, NATO, Forum, Singapore’s Nanyang Technological University, EU, Takshashila, Boys, Getty, United, Global, Shanghai Cooperation Organization, Russia, Weibo, Moscow, CNN Locations: Hong Kong, China, Russian, Gaza, Ukraine, Moscow, Washington, Iran, North Korea, Pyongyang, Russia, Tehran, Beijing, Europe, France, Serbia, Hungary, Bangalore, Rafah, AFP, Israel, United States, Kewalramani, South, Taiwan, Shanghai, Singapore
President Biden signed a bill into law on Monday night banning the import of uranium enriched in Russia. Russia controls nearly half the world’s enrichment capacity, and American electric utilities have been spending around $1 billion per year on the fuel to run their reactors. It provides waivers for utilities that would be forced to shut down nuclear reactors, allowing them to continue imports until 2028. Russia’s government has threatened in the past to unilaterally halt exports to the United States if a ban were put into effect. Speaking to reporters on Tuesday, the Kremlin spokesman, Dmitri S. Peskov, did not reiterate the threat but called the bill “unfair.”
Persons: Biden, Ted Cruz, Dmitri S, Peskov, Organizations: Texas Republican, Kremlin Locations: Russia, Texas, United States
Hyper-luxury golf carts that you can drive on the road
  + stars: | 2024-05-13 | by ( Jack Bantock | ) edition.cnn.com   time to read: +7 min
But one Danish company is on a mission to put the art in golf cart. “When it came to the golf cart 18 years ago, they all looked the same – there weren’t any serious high-end products out there,” Lynge told CNN. You want something that’s sort of Lamborghini-shaped – very low and wide – but the golf cart is the exact opposite.”Tiger Woods rides a conventional golf cart at a tournament in 2005. Lynge took the prize ceremony event as an opportunity to pitch a dream that would be realized in 2016 – a Garia golf car inspired by Mercedes-Benz Style. “Really expensive … super exclusive, but also the coolest golf car you’ll ever see,” Lynge said.
Persons: Anders Lynge, Soren Bak Hansen, ” Lynge, Garia, Lynge, , , Woods, Jeff Gross, Mercedes, Lars Larsen, Lynges, , we’ve Organizations: CNN, Augusta National, Garia, Bentley, Lamborghini, Kussmaul, Mercedes, Benz, US, Lars Larsen Group Locations: Turnberry, Scotland, Copenhagen, German, Europe, , London
Hong Kong CNN —For decades, Western companies made a fortune betting on the inexorable rise of the Chinese consumer. Now an economic slump and the emergence of ferocious local competitors means those bets look less safe as price wars erupt. Tesla’s China market share shrank to 4% in April, almost halving from 7.7% in March, according to data released by the China Passenger Car Association on Friday. In the 1990s, “every company in the West” was hiring consultants and having boardroom meetings about how to do more in China, according to Stevenson-Yang. He added that he continues to feel optimistic about the Chinese market in the long term.
Persons: , Anne Stevenson, Yang, Stevenson, aren’t, Yang Wang, Kevin Frayer, Tim Cook, iPhones, Cotti, Luckin, Belinda Wong, , McDonald’s, Wallace Organizations: Hong Kong CNN, China Passenger Car Association, J Capital Research, EV, Apple, Starbucks, Counterpoint Research, Macao —, Huawei, China Academy of Information, Communications Technology, Luckin Coffee, McDonalds, KFC, Burger Locations: China, Hong Kong, Shanghai, United States, Germany, Brazil, Beijing, Greater China, Taiwan, Macao, Starbucks China, Dominos, India
The Battle for The Streets of New York
  + stars: | 2024-05-13 | by ( Dodai Stewart | ) www.nytimes.com   time to read: +11 min
New York City streets and sidewalks have always been crowded, but it’s never been like this. But lately, New York City streets are teetering between lively and unlivable. Karsten Moran for The New York Times“I think this could be the catalyst for a streets renaissance in New York,” Janette Sadik-Khan, New York City’s former transportation commissioner, said in a recent interview. New York City’s population reached 8.8 million in 2020, and the New York region is now home to nearly 19 million people. Use this form to tell us what you think about the state of New York City’s streets.
Persons: it’s, Karsten Moran, ” Janette Sadik, , , Susan Lee, William Notman, Jon Orcutt, you’re, , Henry Hale Bliss, Bliss, James Nevius, George Rinhart, Damon Winter, Sadik, Yorkers who’ve, Ms, Khan Organizations: New, Lexington, Verizon, FedEx, The New York Times, Broadway, Getty, Yorkers, Brooklyn baseball, Midtown, Bike New, city’s Department of Transportation, Park West, Times, New York Times, Cycling Locations: New York City, New York, Manhattan, , New York, York, York’s, Midtown —, Bike New York, United States, Holland, Jackson, Queens, Bogotá, Stockholm, London, Paris, Europe,
Melinda French Gates, one of the world’s most influential philanthropists and the ex-wife of Microsoft co-founder Bill Gates, announced Monday that she was resigning from the foundation that she and her husband founded. In a post on X, Ms. Gates said she was “immensely proud” of the work of the Bill and Melinda Gates Foundation, which she and Bill Gates started in 2000. As one of the biggest donors at the World Health Organization, it exerts a considerable level of influence over the policies in developing countries, especially in health and education. Mr. and Ms. Gates announced their plans to divorce in May 2021, after 27 years of marriage. The foundation at the time said they would remain co-chairs of the organization.
Persons: Melinda French Gates, Bill Gates, Gates, Melinda Gates Organizations: Microsoft, Melinda Gates Foundation, World Health Organization
“The move into wedding wear makes sense so long as it’s not a distraction from their core business,” Stichter said. “For these bridal collections to land with Gen Z, It’s important that these brands tap into the way that Gen Z shops. Gen Z is always online, but 97% of US Gen Z still shop in-store,” Rees said. With wedding dresses in particular, one trend that emerged during the pandemic was the popularity of black wedding gowns. Boot Barn has a new western-themed wedding collection of bridal dresses, cowboy boots, hats and accessories priced mostly at $400 and below.
Persons: Gen Zers, Taylor Swift, , Janine Stichter, Millennials, ” Stichter, ” Carey Collins Krug, , won’t, Allyson Rees, Gen Z, ” Rees, Gen, they’re, Rees, it’s, ” Lisa Zlotnick, “ There’s, Isha Nicole, ” Nicole Organizations: New, New York CNN, Abercrombie, Fitch, Abercrombie & Fitch Co, CNN, Locations: New York, California, Los Angeles, Las Vegas
CNN —A 62-year-old man has died months after becoming the world’s first living recipient of a genetically edited pig kidney transplant, hailed as a medical milestone. Rick Slayman received the kidney at Massachusetts General in March after he had been diagnosed with end-stage kidney disease last year. “Our family is deeply saddened about the sudden passing of our beloved Rick but take great comfort knowing he inspired so many,” a family statement said. Before Slayman’s transplant, just two transplants using pig organs had been completed – both heart transplants performed under compassionate use. EGenesis, the biotech company providing the genetically edited pig kidney, called Slayman “a true pioneer” in a statement late Saturday night.
Persons: Rick Slayman, Mr, Slayman, Slayman’s, , , Rick, , ” Slayman, Tatsuo Kawai Organizations: CNN, Massachusetts General, Massachusetts Department of Transportation, Legorreta, Procurement, Transplantation Network, Massachusetts Locations: Massachusetts, ” Massachusetts
Officials at Christie’s auction house said on Saturday that the marquee sales that account for nearly half of its annual revenue would continue, despite the company having lost control of its official website last Thursday in a hack that is testing the loyalty of its ultrawealthy clients amid its spring auctions. Natasha Le Bel, a spokeswoman for the auction house, said that Christie’s New York sales of modern and contemporary art “will take place as planned,” but did not respond to questions of how the online portion of the auction would continue. “We remain committed to providing the highest level of service to our clients and look forward to a successful week,” she said. It was the second time in less than a year that Christie’s had suffered a breach. In August, a German cybersecurity company revealed a data breach at the auction house that leaked the locations of artworks held by some of the world’s wealthiest collectors.
Persons: Natasha Le Bel, , Christie’s Locations: York, German
New York City has an image problem. The nightly news typically has a Big Apple spot about unprovoked street violence, subway attacks, drive-by shootings, shoplifting gangs and homeless encampments. The upcoming 400th anniversary of New York City in 2025 offers a great opportunity to change the prevailing narrative. A world-class party could attract more tourists to the world’s greatest city. And Gotham has thousands of citizens who care deeply about the past and who would eagerly embrace the opportunity to show their love for the city.
Persons: Eric Adams, we’ve Organizations: Apple, New Locations: York City, Gotham, United States, New York City
As the Israeli military stepped up pressure on what it calls Hamas’s last stronghold in Gaza, fighting elsewhere in the Palestinian enclave on Sunday led to warnings that the militants might remain a force for a long time to come. Close-quarters ground combat between Hamas fighters and Israeli troops raged in parts of northern Gaza over the weekend, both sides said on Sunday, even as the world’s attention was largely focused on the southern city of Rafah, where Israel escalated military operations last week. It has become a familiar scenario in the Gaza Strip over the course of the seven-month war: After pitched battles, Israel declares an area clear of Hamas, only to return after the militants reconstitute their forces. On Sunday, Secretary of State Antony J. Blinken said he was concerned that Israel’s failure to lay down a template for the governance of Gaza meant that its victories might not be “sustainable” and would be followed by “chaos, by anarchy and ultimately by Hamas again.”
Persons: Hamas’s, Antony J, Blinken, Organizations: Hamas Locations: Gaza, Rafah, Israel
New York CNN —Apple Store workers in Towson, Maryland, the first of the tech giant’s retail employees to unionize, made history again by voting late Saturday in favor of authorizing a strike. “We deeply value our team members and we’re proud to provide them with industry leading compensation and exceptional benefits.”The union at the Towson store has not disclosed what date members would strike. Apple employees at the Mall at Short Hills store in New Jersey voted against unionizing on Saturday, according to Bloomberg. The union, known as the Communications Workers of America, alleged Apple engaged in illegal union-busting activity and blamed the defeat on the Apple’s tactics. The labor wave hitting Apple retail stores echoes the mass organizing that began at other influential companies in the United States, such as Starbucks and Amazon.
Persons: , Apple, , unionizing, ” Kate Bronfenbrenner, CNN’s Ramishah Maruf Organizations: New, New York CNN, Apple, International Association of Machinists, Aerospace Workers Coalition, Retail Employees, IAM CORE, ” Employees, CNN, Towson, Bloomberg, Communications Workers of America, CWA, Labor, National Labor Relations Board, Labor Education Research, Cornell’s School of Industrial and Labor Relations Locations: New York, Towson , Maryland, Towson, Baltimore, Short, New Jersey, Washington, China, New York City, United States
CNN —A British climber and a Nepali guide have broken their own records for most climbs of Mount Everest, the world’s highest mountain, hiking officials said on Sunday. Rakesh Gurung, director of Nepal’s Department of Tourism, said Britain’s Kenton Cool, 50, and Nepali guide Kami Rita Sherpa, 54, climbed the 8,849-meter (29,032 foot) peak for the 18th and 29th time, respectively. Madison had teamed up with Kami Rita to climb the summits of Everest, Lhotse, and K2 in 2014. Kenton Cool is an institution,” Furtenbach, who is leading an expedition from the Chinese side of Everest, told Reuters. Kami Rita first climbed Everest in 1994 and has done so almost every year since, except for three years when authorities closed the mountain for various reasons.
Persons: CNN —, Rakesh Gurung, Britain’s Kenton Cool, Rita Sherpa, ” Garrett Madison, Madison, Kami Rita, Lukas Furtenbach, Kenton Cool, ” Furtenbach, New Zealander Sir Edmund Hillary, Tenzing, Rita Organizations: CNN, Nepal’s Department of Tourism, Madison Mountaineering, Austrian, Kenton, Reuters, Tenzing Norgay, Everest, Nepal Locations: British, Everest, U.S, Pakistan, Nepal, New Zealander, Nepal
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