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At New York's Dragon Festival, authentic Chinese brands and restaurants excite locals' taste buds. Its founder shared some of her favorite vendors of soup dumplings and candies at the opening event. "This doesn't taste like home," said Xu, a 31-year-old entrepreneur and the creator of New York City's Dragon Festival, the biggest Chinese-food festival in the metropolitan area. Jessie YuChen for BIChen said that confectioners in her home province of Fujian, China, caught her attention when she was younger. In 2006, inspired by the soup dumplings made popular by Shanghai's Nanxiang district, Ma opened his first New York City storefront.
Persons: , Xu, Jessie YuChen, she's, Mila, Tang Hulu, I'm, Bu Tong, Ivy Chen, Dragon Lulu, Chen, Vivian Cao, confectioners, Emperor Guangzong, Michael Ma, Xiang Xiao Long Bao, Nan Xiang Xiao Long Bao, Ma, Nan, bartenders, Coco, Xibei Yang Organizations: Service, Park, Dragon, Prospect, lollipop, Michelin, Chi Forest, Haidilao, BI Locations: New York, SoHo, Chinatown, Flushing, York City, Koreatown, Union, Chelsea, Washington, Kwa, Henan, Queens, Prospect Park , Brooklyn, Beijing, Fujian, China, Shanghai, York, Nanxiang, New York City, Jiangsu, Zhejiang, Chi, Thai, Bangkok, Sichuan, Manhattan
As Eid al-Fitr approached, Amani Abu Awda’s four children began asking her for new clothes and toys — festive items that Muslims customarily buy to celebrate the holiday that marks the end of the holy month of Ramadan. “Oh God, I couldn’t get anything for them because of the high prices,” she said Saturday, days before most Muslims worldwide would celebrate Eid al-Fitr. We have lost family and loved ones. Image Displaced Palestinians prepare traditional cakes before Eid al-Fitr, in Rafah, southern Gaza, on Tuesday. “I have a lot of hopes for Eid,” he said, “but firstly for them to end this revolting war.”
Persons: Eid, Fitr, Amani Abu Awda’s, , , , Abu Awda’s, Ms, Abu Awda, Alina Al, Yazji, Haitham Imad, Muna Daloob, Mohammad Shehada, we’re, Shehada, enjoyments Organizations: Hospital, Al, Aqsa Martyrs Hospital, ., Agence France, Gaza Ministry, Health Locations: Gaza, Rafah, Jabaliya, Aqsa, Deir al, Gaza City, Israel, Egypt
Palestinians gathered for Eid prayers across Gaza on Wednesday, where many mosques have been destroyed after six months of war. Ms. Abu Awda’s family managed to take some clothes with them when they fled their home in Jabaliya two months ago. “What kind of Eid is this?” Ms. Abu Awda said, adding, “We have lost so much. We have lost family and loved ones. The Gaza Ministry of Health says that more than 33,000 people have been killed in Gaza over six months of Israeli bombardment.
Persons: Eid, Fitr, Amani Abu Awda’s, Abu Awda, , , , Abu Awda’s, Ms, Alina Al, Yazji, Haitham Imad, Muna Daloob, Mohammad Shehada, we’re, Shehada, enjoyments Organizations: Hospital, Al, Aqsa Martyrs Hospital, ., Agence France, Gaza Ministry, Health Locations: Gaza, Rafah, Jabaliya, Aqsa, Deir al, Gaza City, Israel, Egypt
Netflix, Amazon, Paramount+, and Disney competed for attention with premieres and eye-catching installations. While there, I got to witness South by Southwest's opening weekend, which was dominated by the streaming heavyweights Netflix, Amazon, and Paramount+, with a cameo from Disney. Netflix held a premiere for "3 Body Problem," and Amazon built an interactive postapocalyptic world to promote "Fallout." AdvertisementNetflix's 3D projection for "3 Body Problem" stopped people in their tracks. Nathan McAloneLater, as the "3 Body Problem" premiere began, I heard "Game of Thrones" alum John Bradley (of Samwell Tarly fame) mutter an anxious "Oh God."
Persons: , Max, Nathan McAlone Netflix, David Benioff, Weiss, Alexander Woo —, Doug Liman, Nathan McAlone, John Bradley, mutter, Bradley shouldn't, Palmer Haasch, Bradley, Blake Griffin, Nathan McAlone Amazon, Bass Reeves, Alex Garland's Organizations: Southwest, Netflix, Paramount, Disney, Service, HBO, Hollywood, Amazon, Paramount Theatre, Rotten, Mortal Media, Apple, Studios, Austin Convention Locations: Austin, Hollywood, United States
People there became so angry on Saturday that the police were called, Police Scotland confirmed to CNN, the event was canceled, and the story went viral on social media. “There was a crowd of people outside all furious,” Paul Connell, one of the actors hired to perform at the event told CNN on Wednesday. “I saw people shouting, the people running the event were crying … It was absolute chaos. Jack Proctor and his family were among those attending the experience, and they arrived once the event had been open for a couple of hours, he told CNN on Wednesday. “We were met by groups of families leaving the event, looking utterly bewildered,” he said.
Persons: Willy Wonka, ” Paul Connell, , Jack Proctor, Connell, , Proctor, ” Proctor, they’re, ” Connell Organizations: CNN — Families, Police Scotland, CNN, Facebook, ” CNN Locations: Glasgow, Scotland,
The newest variant of "preppy," led mostly by Gen Alpha over the last year, refers to bright clothing, lots of pink, and specific accessories like ribbons, bowties, and Stanley water bottles. The TL:DR history of how preppy has changed over the decadesFor many, "preppy" is closely associated with clothing worn by wealthy people and preparatory school students. Now, the word refers to all things pink and colorful — with yet, another short list of in-vogue brands in association. In a video by the "preppy" Texas boutique @dearhannahprep, three girls described the look as "very girly" and "comfy." Another poster yearned for the 2000s preppy era of argyle sweaters and tailored dresses.
Persons: , Gen Alpha, preppy, Tommy Hilfiger, Uggs, Stanley, couldn't, Stanley knockoff, Alpha, Lily Pulitzer, Gabriela Vasci, @dearhannahprep, @lenidubs, It's, @mmarkroberts Organizations: Service, Business, Abercrombie, Fitch, Alpha, argyle Locations: Hollister, North, Texas, TikTok
Suddenly, the holidays morphed from a string of cozy celebrations with friends and family into a smorgasbord of plastic toys, plastic packaging, plastic decor, and plastic everything. Despite my best efforts, every holiday season I struggle to keep a stream of unwanted stuff from entering my home. But through trial and error, I've learned some skills that have helped my family make the holiday season less wasteful but no less fun. AdvertisementSustainable gift-givingMy kids want nothing and need very little, but they're showered with gifts during the holiday season. The cheaply made plastic holiday decor on sale this time of year is tough on the planet, too.
Persons: I've, I'm, Kim Dinan Organizations: Service, Business, Center for Biological Diversity, Thrift, Museum
Coca-Cola y3000 is a new, limited edition flavor that promises to transport your taste buds into the next millennium. I was surprised that I liked Zero Sugar better. The Zero Sugar has zero calories and contains aspartame. AdvertisementAdvertisementOn the first sip, I struggled to tell the difference between Coca-Cola Y3000 and regular Coke. One thing that surprised me is that I enjoyed the Zero Sugar version more.
Persons: Oana Vlad, Coca, Haley Tenore Organizations: Service, Cola Locations: Wall, Silicon
UBS job cuts are tiny strike at Asia wealth fears
  + stars: | 2023-09-12 | by ( ) www.reuters.com   time to read: +2 min
The logo of UBS Group is seen at an office building in Hong Kong, China March 20, 2023. The headcount reduction is tiny compared to the thousands it slashed in Europe but it hits on two regional wealth worries. Their risk-taking appetite has diminished as the end of cheap money fuels a shakeout in valuations. More significantly, the pruning of jobs in Hong Kong and Singapore hints at a muted outlook for banks that have thrived on handling assets of rich families. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Tyrone Siu, Una Galani, Katrina Hamlin Organizations: UBS Group, REUTERS, Tyrone, Rights, Reuters, UBS, Credit Suisse, X, Warner Bros Discovery, Thomson Locations: Hong Kong, China, Rights SINGAPORE, Swiss, Asia, Europe, Indonesia, Singapore
UK wind fail is catalyst for belated subsidy rejig
  + stars: | 2023-09-08 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Sept 8 (Reuters Breakingviews) - Britain’s shaky ambitions to be the “Saudi Arabia of wind” now stand at a blustery crossroads. Developers had been warning for months that the UK’s latest offshore wind auction, divulged on Friday, would receive no takers. Britain could just focus on solar and onshore wind, which respectively received 1.9 gigawatts and 1.5 GW in the latest overall 3.7 GW auction. A 2022 auction saw offshore wind constitute two-thirds of a much chunkier 10.8 GW of power awarded. The very real prospect of zero wind schemes ought to be the kick up the backside UK politicians need to make the terms more appealing.
Persons: George Hay, Aimee Donnellan, Oliver Taslic Organizations: Reuters, X, Warner Bros Discovery, Thomson Locations: Saudi Arabia, Britain
By Kate Woolley, IBMBy now most of us have played around with generative AI, amusing ourselves with witty pet poems or challenging AI to perform tasks like spelling "lollipop" backward. But while these fun use cases of AI are deservedly having a moment, what should really be celebrated is the transformative power of generative AI for business. Partners should double down on building AI skills and capabilities so they can collaborate and scale AI adoption across industries. With the right technology and skills, business partners will be able to co-create with their clients today and help them envision what they can build tomorrow. We all want to succeed, and only together can we take full advantage of the opportunities that generative AI presents.
Persons: Kate Woolley Organizations: IBM, Companies, Education, Insider Studios Locations: hyperscalers
Warner Bros Discovery re-bundles the bundle
  + stars: | 2023-09-07 | by ( ) www.reuters.com   time to read: +2 min
NEW YORK, Sept 7 (Reuters Breakingviews) - Warner Bros Discovery (WBD.O) is taking bundling to the max. The $27 billion entertainment company wants to add live sports from the National Basketball Association and Major League Baseball to its streaming service, free for a limited time, according to Bloomberg. Boss David Zaslav said on Wednesday at a Goldman Sachs conference that CNN will be available too. Warner Bros unveiled its new streaming service Max, which includes HBO, in April. The industry is packed with competitors, and at $16 a month, Max is already one of the most expensive.
Persons: Boss David Zaslav, Goldman Sachs, Max, Walt Disney, Jennifer Saba, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, Warner Bros Discovery, National Basketball Association, Major League Baseball, Bloomberg, Goldman, CNN, Warner Bros, HBO, Cable, Charter Communications, ESPN, X, Thomson
GameStop’s success doesn’t belong in a meme
  + stars: | 2023-09-07 | by ( ) www.reuters.com   time to read: +2 min
NEW YORK, Sept 7 (Reuters Breakingviews) - Meme-stock success might look more whimper than bang. GameStop (GME.N), the poster-child for pandemic-era retail-trader enthusiasm, reported second-quarter results on Wednesday that showed losses narrowing and positive, if miniscule, adjusted EBITDA. It’s an improvement on the path to sustainability, especially compared to other retail darlings like bankrupt Bed Bath & Beyond. Hardware sales fell 18% from the prior quarter, as the after-effects of supply shortages fade. GameStop’s share price may still be well above 2019 levels, but its ambitions are as low as ever.
Persons: hasn’t, Ryan Cohen, Jonathan Guilford, Hong Kong, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, GameStop, X, Hong, Thomson Locations: Grapevine , Texas
Direct Line stays in ditch but now faces right way
  + stars: | 2023-09-07 | by ( ) www.reuters.com   time to read: +2 min
Vehicles are seen on the M1 motorway in Milton Keynes following the outbreak of the coronavirus disease (COVID-19), Milton Keynes, Britain May 11, 2020. REUTERS/Andrew Boyers Acquire Licensing RightsLONDON, Sept 7 (Reuters Breakingviews) - Direct Line (DLGD.L) is still in the ditch. The good news is that the company is at least now facing the right way. Direct Line’s scope to actually exit its ditch hinges on customers swallowing the price rises it’s belatedly pushing through. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Milton Keynes, Andrew Boyers, Adam Winslow, George Hay, Hong Kong, Neil Unmack, Streisand Neto Organizations: REUTERS, Reuters, RSA, X, Hong, Thomson Locations: Milton Keynes, Britain
Saudi’s sweetened oil lollipop betrays its nerves
  + stars: | 2023-09-06 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Sept 6 (Reuters Breakingviews) - Prince Abdulaziz bin Salman thinks he needs to sweeten his oil lollipop. The Saudi energy minister has announced that the world’s top oil exporter will extend its 1 million barrels a day production cuts for another three months until the end of this year. On the surface, global trends are helpful for oil, reducing the need for extended OPEC+ cuts. Besides uncertainties over the effectiveness of China’s latest property measures, one surprise has been the strength of Iranian supplies, which are set to rise by 1 million barrels this year to 3.5 million barrels per day by late September. Moreover, Washington may not sit idly by if higher oil prices sabotage the Federal Reserve’s inflation target and damage the economy.
Persons: Prince Abdulaziz bin Salman, Brent, Yawen Chen, Hong Kong, Neil Unmack, Streisand Neto Organizations: Reuters, Organization of, Petroleum, X, Hong, Thomson Locations: Saudi, Russia, U.S, China, Washington
OPEC’s oil sweet spot may not last long
  + stars: | 2023-08-11 | by ( Yawen Chen | ) www.reuters.com   time to read: +5 min
True, a likely El Niño weather event could bring a colder winter, boosting demand for gas and oil. Saudi Arabia has already extended its extra million barrels per day cut until September. At the same time Saudi Arabia pledged a voluntary production cut for July that it has since extended to include August and September. Saudi Arabia told OPEC that it cut output by 943,000 barrels per day (bpd) in July to 9.013 million bpd, Reuters reported on Aug. 10. OPEC’s total output fell by 836,000 bpd to 27.31 million bpd in the same month.
Persons: Prince Abdulaziz bin Salman, Goldman Sachs, Abdulaziz’s, Joe Biden, Neil Unmack, Oliver Taslic Organizations: Reuters, of, Petroleum, OPEC, International Energy Agency, Federal Reserve, Traders, U.S, Federal, Organization of, Brent, West Texas, Thomson Locations: Saudi, Russia, OPEC, Saudi Arabia, U.S, China, Gulf Coast, Iran
From a fundamental perspective, the production cuts announced by Saudi Arabia and Russia are expected to remove excess barrels from the market. Since most fund positions are concentrated in nearby months, where liquidity and volatility are greatest, the wave of buying has accelerated the return to a backwardation structure. The exceptionally low level of hedge fund positions in crude means there is plenty of scope for position-building to anticipate, accelerate and amplify the move. Related columns:- Oil investors less bearish after Saudi output cut extended (July 10, 2023)- Is oil market’s glass half full or half empty? (June 29, 2023)- Frustrated oil bulls made to wait for price recovery (June 22, 2023)- Saudi Arabia’s 'lollipop' has yet to sweeten oil prices (June 6, 2023)John Kemp is a Reuters market analyst.
Persons: Brent, WTI, John Kemp, Paul Simao Organizations: Thomson, Reuters Locations: Saudi Arabia, Russia, backwardation, North America, Europe, China, Brent, Saudi
Commercial inventories of crude oil and refined products in the OECD advanced economies were around 2,842 million barrels at the end of May, according to the U.S. Energy Information Administration (EIA). While the real price was a little low, it was not obviously mispriced or significantly below the long-term median price of $81. The spread was slightly high, but again not obviously mispriced, or significantly above the long-term median of a backwardation of 98 cents. Chartbook: Global oil stocks and pricesThere are no comprehensive estimates for OECD inventories in June as yet. Related columns:- Frustrated oil bulls made to wait for price recovery (June 22, 2023)- Saudi Arabia’s 'lollipop' has yet to sweeten oil prices (June 6, 2023)John Kemp is a Reuters market analyst.
Persons: Brent, John Kemp, Barbara Lewis Organizations: Global, OECD, U.S . Energy Information Administration, , Thomson, Reuters Locations: United States, Saudi Arabia, Russia, Venezuela, Iran, North America, Europe, China, Saudi
In the physical market, dated Brent prices are in contango through the rest of June and July, indicating traders expect plenty of crude to be available. The second-month spread is firmer, in the 66th percentile, but still implies the market is expected to tighten only gradually in the third quarter. Global petroleum inventories are well below the long-term average, especially for refined fuels such as diesel and gas oil. If the global economy avoids recession and resumes steady growth, low inventories could quickly put explosive upward pressure on prices and spreads. At the same time, expectations about a strong rebound in the economy and oil consumption in China have been deferred.
Persons: Brent, John Kemp, Barbara Lewis Organizations: OPEC, OPEC ⁺, Thomson Locations: Saudi Arabia, contango, North America, Europe, China, U.S, Venezuela, Iran, Russia, Saudi
Hedge funds and other money managers sold the equivalent of 21 million barrels of crude oil options and futures but purchased 18 million barrels of products, including 14 million of distillates, over the week ending on June 13. The biggest rotation has been from U.S. crude to European gas oil, reflecting the rise in crude inventories in the United States while stocks of distillates, used heavily in Europe, remain well below normal around the world. The most recent weekly increase in gas oil positions was the largest for almost two years since August 2021 and before that November 2020. Funds had already built a fairly sizeable position in U.S. diesel and now bullishness is starting to spill over into European gas oil. U.S. commercial crude oil inventories were 16 million barrels (+4% or +0.28 standard deviations) above the prior ten-year seasonal average on June 9.
Persons: , John Kemp, Kirsten Donovan Organizations: ICE, Funds, diesel, Saudi, Thomson, Reuters Locations: United States, Europe, NYMEX, U.S, Freeport LNG, Saudi
Hedge funds and other money managers purchased the equivalent of 28 million barrels in the six most important petroleum futures and options contracts over the seven days ending on June 6. Funds bought Brent (+22 million barrels), U.S. diesel (+7 million) and European gas oil (+4 million) but sold NYMEX and ICE WTI (-2 million) and U.S. gasoline (-3 million). Portfolio investors are especially bearish about crude, with a net position of 269 million barrels (7th percentile) and a long-short ratio of 2.39:1 (14th percentile). The hedge fund community has become especially bearish about the outlook for European gas oil given indications the region is already in recession. Funds were net short by 12 million barrels (3rd percentile) with a long-short ratio of 0.73:1 (2nd percentile).
Persons: Saudi Arabia’s, WTI, , John Kemp, Alexander Smith Organizations: Investors, Funds, U.S ., ICE, Bloomberg, Thomson, Reuters Locations: Saudi, China, U.S, Riyadh, OPEC, Freeport
He announced the output cut after the meeting, calling it a "Saudi lollipop". Saudi Arabia said it would cut output in July by 10% or 1 million barrels per day (bpd) to 9 million bpd and may extend cuts further if needed. As well as the Saudi cut, OPEC+ lowered its collective production target for 2024 and the nine participating countries extended the April voluntary cuts to the end of 2024. Nonetheless, all those producers stand to benefit if they can keep output the same or pump a bit more, especially if the Saudi cut boosts prices. "Saudi cuts are playing second fiddle to worries about the state of the global economy," said Stephen Brennock of oil broker PVM, although he added the Saudi cut could widen a supply deficit in July.
Persons: Prince Abdulaziz bin Salman, Prince Abdulaziz, Abu, Al Arabiya, Brent, Stephen Brennock, Rowena Edwards, Maha El, Simon Webb, David Evans Organizations: Saudi, Saudi Energy, Organization of, Petroleum, United Arab Emirates, Saudi Energy Ministry, OPEC's, Thomson Locations: Riyadh, Saudi, Saudi Arabia, Vienna, OPEC, Russia, Abu Dhabi, OPEC's Vienna, UAE, Nigeria, Angola, Friday's
In the physical oil market, where any short-term production cut should have the greatest and most immediate impact, the calendar spreads between nearby months strengthened only slightly. The unilateral Saudi cut, described by the country’s oil minister as a “lollipop”, is for a month, but could be extended. Chartbook: Brent prices and spreadsSTEMMING THE SLIDEThere is evident frustration among OPEC⁺ officials about the continued slide in prices despite three rounds of cuts announced since October 2022. U.S. oil production has continued to rise in a delayed response to last year’s very high prices, which has also kept the market well-supplied. But OPEC⁺ cuts have not (yet) been enough to lift prices and spreads rather than arresting their fall.
Persons: Brent, OPEC ⁺, , John Kemp, Barbara Lewis Organizations: OPEC, European Union, Global, OPEC ⁺, Thomson, Reuters Locations: Saudi Arabia, China, Saudi, North America, Europe
Riyadh goes it alone on oil cutsCrude oil and natural gas rebounded this morning after Saudi Arabia, the world’s biggest exporter, announced a million-barrel-per-day production cut at this weekend’s OPEC Plus summit in an effort to boost sagging energy prices. But the negotiations that led to the move — and a more complicated adjustment of the cartel’s production quotas — hint at the tensions between many of the world’s top crude-producing countries, with global oil prices in the balance. The United Arab Emirates saw its production quota grow, after years of lobbying for such a move, while other countries had their targets reduced. The arrangement that emerged on Sunday was a Riyadh-led compromise, which Prince Abdulaziz bin Salman, the Saudi oil minister, called “a Saudi lollipop” that is meant to sweeten prices for oil traders. Though the cut is meant only for July, it could be extended.
Persons: Prince Abdulaziz bin Salman Organizations: United, United Arab Emirates Locations: Riyadh, Saudi Arabia, OPEC, United Arab, Saudi
Saudi Arabia said it is cutting oil production to stabilize oil markets. The move is likely to irk Joe Biden, who has clashed with the Saudis on oil production. The Saudis have previously worked with Russia to cut production, thus boosting prices. Saudi Arabia is the world's biggest oil producer and most influential member of the group, so has significant power over global oil markets. The production cut will likely be among the issues discussed when US Secretary of State Anthony Blinken visits Saudi Arabia next week.
Persons: irk Joe Biden, , Prince Abdulaziz bin Salman al, Saud, Prince Abdulaziz, Saudi Arabia's, Prince Mohammed bin Salman, Alexander Novak, Biden, State Anthony Blinken Organizations: Saudis, Service, Privacy Policy, Reuters, Brent, White, State, New York Times, Kremlin Locations: Saudi Arabia, Russia, Privacy Policy Saudi Arabia, Saudi, Vienna, Austria, Russian, Riyadh, Ukraine, Opec, India
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