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What it’s really like to live in Macao
  + stars: | 2024-04-25 | by ( Lilit Marcus | ) edition.cnn.com   time to read: +9 min
Macao, the Chinese special administrative region (SAR) often twinned with Hong Kong, is known as the Las Vegas of Asia. But travelers who are willing to dig in a little deeper can explore Macanese culture, which mixes Portuguese, Chinese and Southeast Asian heritages. Macao is comprised of two islands – the north one, Macao itself, and its southern neighbor Taipa. “In Asia, [people] think that Macao is full of casinos, and I think they do not understand the other parts of Macao,” says Lai. That means that they can live in Macao without a work visa and do not need a company sponsoring them.
Persons: CNN — “, , Vivian Lai, Taipa, Lai, ” Marina Fernandes, Michael Maslan, , it’s, Uber, Fernandes, Eduardo Leal, Ricardo Balocas, Balocas, Don’t Organizations: CNN, Las, Macanese Association, Bloomberg, Macao International Airport, Joseph’s University, Macao, Henley Locations: Macao, Hong Kong, Las Vegas, Asia, China, Taipa, , , Europe, Portuguese, Zhuhai, Macao’s, Singapore, Jakarta, Hanoi, Bangkok, Beijing, North America, Shenzhen, Guangzhou, Bay Area, Portugal, Macao's, Lisbon, St, Philippines, ‘ Little Lisbon, it’s
Pictured here is the Zeekr 001 electric car at a services trade fair in Beijing on Aug. 31, 2023. China News Service | China News Service | Getty ImagesBEIJING — Chinese electric car brand Zeekr is selling more vehicles than Tesla in parts of China, and plans to expand in Europe and Latin America this year, Zeekr CEO Andy An told CNBC on Wednesday. For the first three weeks of April, Zeekr sold 500 more cars than Tesla in the province of Zhejiang, where Zeekr and its parent company Geely are based. Zeekr also slightly outsold Tesla in the province of Anhui, near Shanghai, and Guangxi, an autonomous region in southern China. The rapid rise of Chinese electric car companies, however, has also prompted the EU and U.S. to consider measures for protecting their own auto industries.
Persons: Andy, Elon, Tesla, Zeekr Organizations: China News Service, Getty, CNBC, EU Locations: Beijing, BEIJING, China, Europe, Latin America, Zhejiang, Anhui, Shanghai, Guangxi, Sweden, Netherlands, America, Hong Kong, Macao, Singapore
One strategist, however is looking keenly at European equities, and notes that "Europe isn't a boring market." "You would hope that will translate through to the stock market in terms of company earnings growth in Europe. "While you might see some kind of short-term downturn, in the longer-term the picture is very positive for the sector," Field added. He sees value in payments, which he described as "one of the most undervalued parts of European financial services." The sector has trailed market performance, with valuations looking "interesting" over the last 12 months, Morningstar noted in its recent report.
Persons: Michael Field, Field, Morningstar Organizations: CNBC Pro, European Central Bank, Consumer, Swatch Group, Financial, Morningstar, ING Bank, Group, Health, Novo Nordisk Locations: U.S, Europe, Netherlands, British, Swiss
Spain’s prime minister, Pedro Sánchez, said late Wednesday that he was considering resigning after a judge opened an investigation into whether Mr. Sánchez’s wife had abused her position to help friends win public contracts. The development stunned Spain and threw the political future of perhaps Europe’s most prominent progressive leader into doubt only months after he defied widespread expectations by putting together a fractious coalition and securing a second term in power. “I need to stop and think,” Mr. Sánchez wrote in a long letter published on his X social media account on Wednesday evening. He canceled all political engagements until Monday to decide, he said, whether he “should continue to lead the government or renounce this honor.”Recently, Mr. Sánchez had seemed to overcome another significant obstacle by assuring that the Catalan independent movement would support his coalition, making his second term in government seem sturdy.
Persons: Spain’s, Pedro Sánchez, Sánchez’s, Spain, Mr, Sánchez
I visited Madeira, Portugal, which is often referred to as the "Hawaii of Europe." Madeira offers a mild climate all year, rugged coastlines, and a bustling city center. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen I visited Madeira, Portugal, I found an island paradise brimming with natural wonders and cultural opportunities. Madeira is the perfect blend of a tropical and European vacation, coupled with its yearlong mild climate, rugged coastlines, cascading waterfalls, and verdant cliffs.
Persons: , there's Organizations: skywalk, Service Locations: Madeira, Portugal, Hawaii, Europe, Monte Palace, Funchal
The chief executive of the world's largest wealth fund says there are many wild cards in financial markets right now, but the "big worry" for investors is what a commodities rally could mean for the inflation outlook. Oil and copper prices have climbed around 13%, respectively, year-to-date, while gold has repeatedly notched fresh record highs in recent months. Asked whether he had any concerns about hot commodity markets, NBIM's Tangen replied, "Yes, the big worry is just what that could mean for inflation right?" He added, "So, if energy and raw material prices continue to move up, that is going to feed through to end-product prices, which are going to be higher. And that could be the real wildcard when it comes to inflation expectation."
Persons: Nicolai Tangen, CNBC's, NBIM's Tangen Organizations: Norges Bank Investment Management
About 90,000 NATO troops have been training in Europe this spring for the Great Power war that most hope will never come: a clash between Russia and the West with potentially catastrophic consequences. In Estonia, paratroopers from the 82nd Airborne Division out of Fort Liberty, N.C., jumped out of planes alongside soldiers from Colchester Garrison in Essex, Britain, for “forcible entry” operations. In Lithuania, German soldiers arrived as a brigade stationed outside Germany on a permanent basis for the first time since World War II. And on the A4 autobahn in eastern Germany, a U.S. Army captain and his Macedonian counterpart rushed toward the Suwalki Gap — the place many war planners predict will be the flashpoint for a NATO war with Russia — hoping the overheated radiator on their Stryker armored combat vehicle wouldn’t kill the engine.
Persons: Russia — Organizations: NATO, Great, 82nd Airborne, Colchester Garrison, U.S . Army, Macedonian Locations: Europe, Russia, Estonia, Fort Liberty, N.C, Essex, Britain, Lithuania, Germany
Now, the giant Swiss lender is hitting back, saying its finances are robust and warning that the proposal could harm Switzerland’s standing as a global financial center. “There can be no regulatory solution for a broken business model,” he continued, referring to Credit Suisse. UBS bought its stricken rival last March in a government-orchestrated rescue aimed at preventing a global financial crisis. It was not too-low capital requirements that forced Credit Suisse into the historic weekend rescue,” he added. But that leaves the stock more vulnerable to declines as a result of “execution risk in the Credit Suisse integration,” suggested Citi analyst Andrew Coombs.
Persons: London CNN —, Colm Kelleher, , , Kelleher, Pascal Mora, Karin Keller, Keller Sutter, Anke, Andrew Coombs, ” Kelleher, Sergio Ermotti’s, Ermotti Organizations: London CNN, Credit Suisse, UBS, Bloomberg, Getty, RBC Capital Markets, Citi, Reuters Locations: Swiss, Switzerland, Europe
Meat from dairy cows, rarely valued in American kitchens and restaurants, usually becomes dog food and fast-food burgers. When mature dairy cows (about six years old) are allowed to pasture longer, their fat, which normally goes into milk, returns to the muscles and makes the meat richer and more tender. But a few farms, including Mindful Meat in Marin County, Calif., and Butter Meat Company in Pavilion, N.Y., just west of the Finger Lakes, have been selling meat from culled dairy cows and convincing skeptics. At Stone Barns, dairy cattle are living out their golden years munching on Pocantico Hills grass before becoming the highlight of a tasting menu that can run more than $400 per person. All the beef dishes at the restaurant are made with culled dairy meat; at the Stone Barns store, frozen strip-loin steaks are $24 a pound.
Persons: It’s, Dan Barber Organizations: Meat Company, Stone Locations: Europe, United States, Portugal, Spain, France, Marin County, Calif, Stone Barns, Tarrytown, N.Y, Stone, Pocantico
With opulent graves but no written records, the empire and its people have remained largely in the shadows of history until recently. But a landmark April 2022 study involving ancient DNA taken from the graves of the Avar elite shed light on the empire’s far-flung origins. A tiny sample is drilled from a bone at the ancient DNA laboratory at the Max Planck Institute for Evolutionary Anthropology in Leipzig, Germany. In the case of men, researchers found two partners in 10 cases, three partners in four cases and four partners in one case. “Polygamy (having multiple marriage partners), serial monogamous marriages and extramarital relations are all possible explanations,” she said.
Persons: , Zsófia Rácz, Rácz, aren’t, Guido Alberto Gnecchi, Max Planck, Eötvös Loránd University Múzeum Lara Cassidy, , polygyny, Ruscone, Cassidy, Bryan Miller, wasn’t Organizations: CNN, of Archaeological Sciences, Eötvös Loránd, Múzeum, University’s, Archaeological Sciences, Max, Max Planck Institute, Eötvös Loránd University, Trinity College Dublin, Turks, Central, University of Michigan Locations: Central, Eastern Europe, Hungary, Rákóczifalva, Budapest, Leipzig, Germany, Europe, Mongolia, Caucasus, what’s, Constantinople, Byzantine, Eurasia
Just as the offseason kicked off in mid February, Durde was hired to become the Seattle Seahawks’ new defensive coordinator, becoming the first British coordinator in NFL history. Durde’s first exposure to the NFL came in 2005 when – as part of the NFL International Development Practice Squad program, an early predecessor to the IPP – he spent some time on the practice squad of the Carolina Panthers. He spent three seasons as part of the Falcons’ defensive coaching staff, working across a number of roles under head coach Dan Quinn. His permanent hiring in 2018 meant Durde became the first British full-time coach in NFL history. Under Durde’s stewardship, Dallas’ defensive line developed into one of the most feared in the league, in particular star linebacker Micah Parsons.
Persons: Aden Durde, Durde, , hasn’t, ” Durde, that’s, , , Bill Walsh, Dan Quinn, Carmen Mandato, ” It’s, Efe Obada, Jordan Mailata, Wales rugby international Louis Rees, Zammit, Mailata, Louis, Rees, Jeff Ulbrich, he’s, He’s, Micah Parsons, Parsons, Pro Bowler, Roger Steinman, Mike McDonald –, Dallas, Pete Carroll Organizations: CNN, NFL, Seattle Seahawks, American, Atlanta Falcons, CNN Sport, London Olympians, Scottish, Hamburg, Devils, Carolina Panthers, Kansas City Chiefs, London Warriors, Dallas Cowboys, Brit Osi, IPP, Washington, Philadelphia Eagles ’, Wales rugby international, Eagles, , Falcons, Atlanta Journal, Cowboys, Dallas, Seahawks, Durde Locations: Aden, British, London, Britain, Greenwich, NFL Europe, Hamburg’s, Europe, Atlanta, Texas, Durde’s, Dallas, Seattle
UBS chair says Swiss banking giant is not 'too big to fail'
  + stars: | 2024-04-24 | by ( Jenni Reid | ) www.cnbc.com   time to read: 1 min
UBS Group Chairman Colm Kelleher on Wednesday said that the Swiss bank is "not too big to fail," as he criticized Swiss government proposals to strengthen its capital requirements. Kelleher was delivering a speech during the UBS Annual General Meeting — the first such gathering held since the bank completed the takeover of its former rival Credit Suisse last summer. "UBS is not too big to fail. UBS is one of the best capitalized banks in Europe, with a sustainable business model and a corresponding low-risk balance sheet," Kelleher said. This is a breaking news story and will be updated shortly.
Persons: Colm Kelleher, Kelleher Organizations: UBS, Credit Suisse Locations: Swiss, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGreek equities still trading at a discount to the rest of Europe: FidelityGeorge Efstathopoulos of Fidelity International explains why he is positive on Greek equities.
Persons: Fidelity George Efstathopoulos Organizations: Fidelity, Fidelity International Locations: Europe
The Food and Drug Administration on Wednesday approved the sale of an antibiotic for the treatment of urinary tract infections in women, giving U.S. health providers a powerful new tool to combat a common infection that is increasingly unresponsive to the existing suite of antimicrobial drugs. The drug will be marketed in the U.S. as Pivya and will be made available by prescription to women 18 and older. It is the first time in two decades that the F.D.A. has approved a new antibiotic for U.T.I.s, which annually affect 30 million Americans. is committed to fostering new antibiotic availability when they prove to be safe and effective.”
Persons: U.T.I.s, Dr, Peter Kim Organizations: Drug Administration, Drug, Research Locations: Europe, U.S
As the announcement trilled out over Kenilworth Road, the jumble of rusted metal and peeling paint that Luton Town F.C. At the start of the sentence, it was little more than the traditional polite welcome to the stadium for that evening’s visiting team, Manchester City. By the end, though, the voice of the announcer seemed overcome by what sounded a little like awe. Cup, the champions of England and the champions of Europe.” Luton seems to be having a hard time believing the company it now keeps. Fifteen years ago, Luton Town had been relegated to the fifth tier of English soccer, a world away from the power and the prestige of the Premier League.
Persons: Luton Organizations: Luton Town F.C, Manchester, Luton Town, Premier League Locations: Kenilworth, Manchester City, Luton, England, Europe
Washington CNN —President Joe Biden on Wednesday signed into law an aid package providing crucial military assistance to Ukraine, capping months of negotiations and debate. The aid package, passed by the Senate late Tuesday evening and worth $95 billion in total, includes nearly $61 billion in aid to Ukraine, $26 billion for Israel and $8 billion for the Indo-Pacific. Hardline House conservatives opposed further US funding to Kyiv and threatened to oust Johnson over his handling of the negotiations. Conservatives in Congress have opposed additional assistance for what they view as an unwinnable war. Earlier this year, Biden signaled his intentions to make significant immigration-related concessions if Congress were to move forward with the aid bill.
Persons: Joe Biden, Volodymyr Zelensky, Mike Johnson, Johnson, Biden, Bill Burns, Donald Trump, Trump, Sen, Bernie Sanders, ” Sanders, Benjamin ] Organizations: Washington CNN, Senate, House Republican, Conservatives, Congress, CIA, Ukraine, Republicans Locations: Ukraine, Israel, United States, Kyiv, Europe, Russia, Gaza
The top US diplomat landed in Shanghai where he is expected to meet local officials and business leaders, and he will then travel to Beijing for meetings with senior Chinese officials. “We are in a different place than we were a year ago when the bilateral relationship was at an historic low point,” a senior State Department official said. “Russia is no longer kind of on its back foot,” a second senior State Department official said. Blinken will make the case that China should weigh in “more directly” with Iran to be less provocative in the region, the second senior State Department official said. “In both cases the Chinese have taken some early steps,” said the second senior State Department official, adding that there is still “much more” that needs to be done on both fronts.
Persons: Antony Blinken, Joe Biden, Xi Jinping, Janet Yellen, Biden, Xi, , , ” Blinken, Matthew Miller, Leah Millis, China’s, ” Xi, Blinken, ” Miller, it’s, Mark Swidan, Kai Li, David Lin Organizations: CNN, State Department, Ukraine, US, Foreign Ministry, of, People, Biden, Chinese Foreign Ministry, ASEAN, Association of Southeast Asian Nations, Beijing, Party, Taiwan, Communist, Taiwan Relations, White Locations: China, Ukraine, Shanghai, Beijing, California, Russia, Moscow, Italy, “ Russia, , Europe, United States, South China, Philippine, Washington, Philippines, South, Taiwan, Taiwan Strait, East, Iran
Elon Musk said Tesla will get cheaper electric vehicles out sooner. AdvertisementElon Musk dangled a long-awaited prize — cheaper Tesla models — in front of investors on Tuesday. But it was enough to calm investors, and Tesla's stock rose 13% in after-hours trading. Significant challenges and a plummeting stockWhile a promise of cheaper cars relieved investors, Tesla's troubles are far from over. Tesla's stock is down 42% year-to-date.
Persons: Elon Musk, Tesla, Tesla's, , Elon, Musk, Jay Woods Organizations: Service, Freedom Capital Markets, Reuters, EV Locations: China, Europe
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA billionaire drug baron was arrested in Spain on money laundering charges but was released after paying a $53,000 bond, according to reports. AdvertisementThis followed a five-year investigation that police say showed the suspects had established a criminal organization involved in large-scale drug trafficking, including the smuggling of significant amounts of cocaine. Related storiesPolitico referred to Bouyakhrichan as a billionaire who possesses bank accounts and properties around the world. AdvertisementThe judge then imposed a €50,000 bond, roughly $53,000, took away Bouyakhrichan's passport, and ordered him to report to the authorities every fifteen days.
Persons: , Felix Bolaños, Karim Bouyakhrichan, Bouyakhrichan, Vincent Veenman Organizations: Service, Business, Spain's National Police, BBC, Cadena SER Locations: Spain, Dutch, Moroccan, Netherlands, Belgium, South America, Europe, The Hague, Spanish
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBounce in base metal prices has to do with optimism on Western recovery: StrategistIan Roper, commodity strategist at Astris Advisory Japan KK, discusses what's behind their rise, citing factors such as the pick-up in industrial activity in Europe and North America.
Persons: Ian Roper Organizations: Astris Advisory Japan KK Locations: Europe, North America
CNN —A portrait by Gustav Klimt that was unseen for almost a century has sold for $32 million – the bottom end of its pre-auction estimate. The sale price was less than half that fetched by another Klimt painting – “Dame mit Fächer” (Lady with a Fan) – in London last year. The last portrait completed by Klimt became the most expensive artwork ever to sell at a European auction, when it sold for a £85.3 million ($108.4 million). However, new research by the auction house suggests Justus’ wife, Lilly, hired him to paint one of their two daughters. A cape richly decorated with flowers is draped around her shoulders,” the auction house said.
Persons: Gustav Klimt, Fräulein, , Klimt, Fächer ”, Lieser ”, Roland Schlager, Getty Images Brothers Adolf, Justus Lieser, Adolf, Margarethe Constance, Justus ’, Lilly, , , “ Adolf, Henriette Lieser, Claudia Mörth Organizations: CNN, Austrian, Getty Images Brothers, Washington, Nazi Locations: London, Vienna, Austrian, Austro, Washington, Austria, Central Europe
Gold and copper have been on fire, as geopolitical tensions mount, central banks buy up gold, and AI demand for copper grows. Copper, too, has done well, with copper futures hitting their highest level since 2022 last weekend. Stock picks He named Australian gold miner Northern Star and copper miner Southern Copper as stocks he's bullish on right now. He said against that backdrop, he's getting back into some gold mining stocks such as Gold Fields and K92 Mining. It said that copper demand will already "significantly exceed" supply starting this year — and that's not even accounting for demand growth from data centers.
Persons: Kingsley Jones, Jevons, CNBC's, Jones, Kamil Dimmich, Dimmich, he's, that's, Jefferies, Teck, Ian Roper, Michael Bloom Organizations: Wall Street, U.S . Federal Reserve, Stock, Northern Star, South, K92 Mining, Jefferies, JPMorgan, Teck Resources, North, Astris Advisory Japan KK, CNBC Locations: USA, Europe, South Capital, East, China, Freeport, McMoRan, Lundin, Teck, North America
European markets are set to open in positive territory Wednesday, building on gains seen since the start of the week. Regional stocks closed higher Tuesday, with the U.K.'s FTSE 100 hitting a fresh intraday record high as investors built on upbeat sentiment this week. Europe's markets have been buoyed by gains in Asia and on Wall Street this week, where investors have been keeping a close eye on tech earnings. Overnight, Japan's Nikkei 225 led gains in Asia as markets in the region rose across the board, while S&P 500 futures edged higher Tuesday night as investors parsed the latest financial releases from corporate America.
Organizations: Nikkei Locations: Asia, America
CNN —An arms fair may contain all the trappings of war, but it is nothing like a battlefield. Nikita TeryoshinA shot of the reception at the 2016 MSPO expo, the biggest arms fair in Eastern Europe. “It was the only (arms fair I’d been to) where they were shooting real rockets over 20 kilometers (12 miles) maybe,” said Teroyshin. Fairgoers wait for a shuttle to a live demonstration site during the 2019 Army military expo held in Alabino, Russia. Forever.”) is paired with an image of three women in Islamic veils at an arms fair, one pretending to hold a rifle depicted in the poster in front of her.
Persons: , Nikita Teryoshin, , ” Teryoshin, Nikita Teryoshin “, Teryoshin, Majid, Teroyshin, Lockheed Martin, Nikita Teryoshin Teroyshin, , KAI, Nikita Teryoshin Saudi, Linda Åkerström, eyeshadow, Nikita Teryoshin Åkerström, ” Teroyshin, he’s, Åkerström, you’ll Organizations: CNN, Swedish Bofors, expos, Tiger, Kalashnikov, Lockheed, Manufacturing, ITT, Otis Defence, CTA, Elbit Systems, BAE Systems Locations: Russian, Swedish, Kielce, Poland, Lima , Peru, Belarus, France, Germany, South Korea, China, UAE, Peru, Russia, Vietnam, USA, South Africa, Lucknow, Uttar Pradesh, India, , DEFEXPO, Eastern Europe, Mali, Alabino, Abu Dhabi, Paris, Dortmund, Seoul, IDEX, Central, Western Europe, Saudi Arabia, Qatar, Australia, Ukraine
London CNN —European Union officials have raided the offices of a Chinese company as part of a probe into subsidies, exposing rising tensions between the bloc and one of its biggest trading partners. The European Commission said Tuesday that it carried out “unannounced inspections” at the premises of a company making and selling security equipment in Europe, which it suspects may have benefited unduly from state subsidies. “The commission has indications that the inspected company may have received foreign subsidies that could distort the (EU’s) internal market,” the EU’s executive body said in a statement on its website. The China Chamber of Commerce to the EU said Wednesday that it had been informed that a Chinese company was the target of the investigation. The Foreign Subsidies Regulation, which came into force last July, is aimed at addressing market distortions caused by subsidies from foreign governments and ensuring that EU companies are competing on a level playing field.
Persons: , , ” Ursula von der Leyen, Janet Yellen Organizations: London CNN — European Union, European Commission, China Chamber of Commerce, EU, CNN Locations: Europe, Poland, Netherlands, Romania, China, Puglia, Italy, United States, Beijing
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