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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

☆ South Korea's largest K-pop agency Hybe accuses sublabel executives of breach of trust
▼ + stars: | 2024-04-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

South Korea's largest entertainment agency Hybe is set to file an official police complaint against executives of its sublabel ADOR on charges of breach of trust and other offenses. The move comes after Hybe, which manages K-pop sensation BTS, opened an audit into ADOR on April 22 over allegations that CEO Min Hee-jin was aiming to take the sublabel independent. Min denied the allegations and accused Hybe of copying the concept of ADOR's girl group, NewJeans, for another girl group under a different Hybe subsidiary. Reports from South Korean media show a screenshot provided by Hybe of a message between Min and ADOR's vice CEO. In the message, the vice CEO outlined various methods to take the label independent, including approaching other investors and convincing Hybe to sell its stake in the sublabel.

Persons: Min Hee, Min, Hybe, auditee Organizations: CNBC, South Locations: ADOR

☆ Blinken Tours China to Promote Some Ties, While the U.S. Severs Others
▼ + stars: | 2024-04-25 | by ( Ana Swanson | ) www.nytimes.com time to read: +1 min

It all went to emphasize the kind of economic, educational and cultural ties that the United States is pointedly holding up as beneficial for both countries. But hanging over those pleasantries during his visit to China this week are several steps the U.S. is taking to sever economic ties in areas where the Biden administration says they threaten American interests. Even as the Biden administration tries to stabilize the relationship with China, it is advancing several economic measures that would curb China’s access to the U.S. economy and technology. It is poised to raise tariffs on Chinese steel, solar panels and other crucial products to try to protect American factories from cheap imports. The president signed it on Wednesday, though the measure is likely to be challenged in court.

Persons: Antony J, Blinken, Biden, ByteDance Organizations: New, Biden Locations: Shanghai, New York, United States, China, U.S, Beijing

☆ Geely-backed luxury EV brand Zeekr says it's already beating Tesla in parts of China
▼ + stars: | 2024-04-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

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

☆ What to Know About Venice’s Fees for Day Trips
▼ + stars: | 2024-04-25 | by ( Elisabetta Povoledo | ) www.nytimes.com time to read: +1 min

After years of debate, Venice on Thursday will begin charging day visitors five euros to visit its fragile historic center on peak days, making it the first city in the world to adopt such a measure to counter overtourism. Critics question whether a nominal fee will put people off from visiting one of the world’s most desired destinations. But officials hope that it might encourage some to rethink their plans and decide to come on weekdays or in the off-season. About half of those visitors came only for the day, city officials said. The spirit of the initiative, city officials have said, is to make people aware of the uniqueness — and fragility — of Venice.

Persons: Nicola Camatti Organizations: Foscari University of Venice Locations: Venice

☆ Japanese yen hits fresh 34-year low despite verbal intervention from authorities
▼ + stars: | 2024-04-25 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

In this article JPY= Follow your favorite stocks CREATE FREE ACCOUNTThe Japan flag is juxtaposed against a Japanese yen bank note. Javier Ghersi | Moment | Getty ImagesThe yen slipped past 155 against the U.S. dollar on Thursday, touching a new 34-year low against continued strength in the greenback. The weakness comes as the Bank of Japan is due to release its monetary policy decision Friday and in spite of verbal warnings from Japanese authorities. Some market watchers had speculated that the 155 level would prompt intervention after the currency languished at multi-decade lows for a month. The yen has weakened 4.2% since the BOJ's March meeting, worrying Japanese authorities and investors.

Persons: Javier Ghersi, Shusuke Yamada, Jerome Powell, Appio Organizations: U.S, Bank of Japan, BofA Securities, Federal, First Eagle Investments, CNBC, Korean Locations: Japan, South Korea

☆ Matty Healy says he hasn't 'really listened' to Taylor Swift's 'The Tortured Poets Department,' the most streamed album in the world right now
▼ + stars: | 2024-04-25 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

But Matty Healy says he hasn't "really listened to that much of it." AdvertisementTaylor Swift's "The Tortured Poets Department" may have broken multiple streaming records, but Matty Healy says he hasn't "really listened" to the album yet. I haven't really listened to that much of it, but I'm sure it's good," Healy said of the album. Healy's response may surprise some, considering how fans have speculated that he is the subject of several songs on Swift's album. On Wednesday, streaming giant Spotify said that Swift's album had become the platform's "most streamed album in a single week," surpassing a billion streams since its release on Friday.

Persons: Taylor Swift's, Matty Healy, Healy, —, Taylor, Swift, Joe Alwyn, Travis Kelce, would've, Swift didn't Organizations: Poets Department, Service, Department, Kansas City Chiefs, GQ, Spotify, BI

☆ McKinsey advised drug companies on how to 'turbocharge' opioid sales. Now it's under criminal investigation.
▼ + stars: | 2024-04-25 | by ( Meghan Morris | ) www.businessinsider.com time to read: +3 min

The Department of Justice is investigating McKinsey for advising opioid producers on boosting sales. The firm previously paid nearly $1 billion to resolve lawsuits related to its opioid work. The investigation is also looking at potential obstruction of justice by McKinsey and its employees. News of the investigation underscores how McKinsey's opioid work — which the firm said it stopped in 2019 — continues to plague the consultancy. In a 2018 email, for example, a since-fired McKinsey executive wrote to another senior executive about the firm's legal risk.

Persons: —, Endo, Martin Elling Organizations: Justice, McKinsey, Service, McKinsey & Company, US Department of Justice, Street, Purdue Pharma, DOJ, of, Purdue Locations: Virginia, Western, of Virginia, of Massachusetts, Seattle

☆ I'm a working mom who enjoys solo travel. I've learned how to keep myself from spiraling into mom guilt while I'm away.
▼ + stars: | 2024-04-25 | by ( Spriha Srivastava | ) www.businessinsider.com time to read: +7 min

I'm a working mom who incorporates solo trips into my business travel. a working mom who incorporates solo trips into my business travel. My heart skipped a beat, and my not-so-new best friend, "mom guilt," walked through the door. AdvertisementBut while traveling with children is fun, I missed the spontaneity and the flexibility of solo travel. The sense of calmness was a feeling I rarely find as a working mom, and I loved it.

Persons: I'm, —, we've, I've, Spriha Srivastava, Lean, he'll Organizations: Service, British Psychological Society, Pew Research, Metropolitan Museum of Art Locations: New York, Manhattan, China, Angkor Wat, Cambodia, Singapore

☆ Mark Zuckerberg laid out 3 ways Meta will make money from its huge AI investments
▼ + stars: | 2024-04-25 | by ( Kali Hays | ) www.businessinsider.com time to read: +5 min

In the next few years, Zuckerberg sees three ways AI can become a "massive business" for Meta. Related storiesHe sees "several ways" generative AI can make money, and laid out three specific paths to this becoming "a massive business" for Meta. Ads appearing in "AI interactions"Another way generative AI could make money for Meta is by "introducing ads or paid content into AI interactions," Zuckerberg said. AdvertisementSelling access to AI modelsA third distinct way Meta may make money from AI is by selling access to models as they get larger. "Enabling people to pay to use bigger AI models and access more compute," as Zuckerberg put it on Wednesday.

Persons: Mark Zuckerberg, Zuckerberg, —, we're, Meta Organizations: Meta, Service

☆ India markets face an 'inevitable' correction if Modi's election win disappoints, Bernstein says
▼ + stars: | 2024-04-25 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A worker fixes flags of the ruling Bharatiya Janata Party displayed on a hoarding prior in Raipur on April 15, 2024 ahead of the country's upcoming general elections. India's stock markets started the year in record-high territory, much of it supported by pre-election optimism — but as the country kicked off its weeks-long election, Bernstein warned that a market correction could be in place. Market players have been pricing in a victory for Prime Minister Narendra Modi's ruling Bharatiya Janata Party. Modi, who has been prime minister since 2014, is seen as a market-friendly candidate. Nearly one billion eligible voters will decide who fills the 543 contested seats in the Lok Sabha, the lower house of the Indian Parliament.

Persons: Bernstein, Narendra Modi's, Modi, Venugopal Garre, Nikhil Arela Organizations: Bharatiya Janata Party Locations: Raipur, India, Lok Sabha

☆ There Is No TikTok in China, but There Is Douyin. Here’s What It Is.
▼ + stars: | 2024-04-25 | by ( Claire Fu | Daisuke Wakabayashi | ) www.nytimes.com time to read: +1 min

In China, there is no TikTok. After President Biden signed a bill on Wednesday forcing Chinese company ByteDance to sell its ownership of TikTok, the United States moved one step closer to an internet without the short video app. It is a staple of the Chinese internet the way TikTok is in the rest of the world. But because it has no presence outside China, Douyin, which means a “shaking sound” in Chinese, is not as well known globally. Will ByteDance succumb to political demands from Washington, or will it refuse to sell TikTok and face the consequences?

Persons: Biden, Douyin, Will ByteDance Organizations: ByteDance Locations: China, United States, U.S, Washington

☆ Walgreens to help bring cell and gene therapies to patients as it expands specialty pharmacy services
▼ + stars: | 2024-04-25 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Walgreens on Thursday said it will start to work directly with drugmakers to bring cell and gene therapies to U.S. patients as part of a broader expansion of its specialty pharmacy services. The company said it is launching a new business unit dedicated to its specialty pharmacy segment, which will include specialty pharmacy subsidiary AllianceRx. Meanwhile, Shields Health Solutions, a subsidiary that supports health system-owned specialty pharmacies, will remain under Walgreens's U.S. health-care division. Specialty pharmacies provide medications that require extreme care in handling, storage and distribution. Among the company's new investments to "transform" its specialty pharmacy services, it will open a newly licensed facility in Pittsburgh dedicated to services for cell and gene therapies.

Persons: drugmakers Organizations: Walgreens, Walgreens Boots Alliance, Shields Health Solutions, Walgreens's Locations: Manhattan , New York City, U.S, Pittsburgh

Secretary of State Antony J. Blinken is meeting officials in China this week as disputes over wars, trade, technology and security are testing the two countries’ efforts to stabilize the relationship. China is courting foreign investment to help its sluggish economy. At the same time, its leader, Xi Jinping, has been bolstering national security and expanding China’s military footprint around Taiwan and the South China Sea in ways that have alarmed its neighbors. Mr. Biden and Mr. Xi have held talks to prevent their countries’ disputes from spiraling into conflict, after relations sank to their lowest point in decades last year. But an array of challenges could make steadying the relationship difficult.

Persons: Antony J, Blinken, Biden, Xi Jinping, Xi Locations: China, United States, Taiwan, South

☆ This 35-year-old had 5 failed businesses before starting her grocery store chain – now it brings in over $8 million a year
▼ + stars: | 2024-04-25 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +4 min

Gek Teng Pang founded Surrey Hills Grocer in 2021. Success didn't come easy for Pang Gek Teng. Today, she is the proud founder and CEO of Surrey Hills Grocer, an Australian-inspired grocer and café brand with five locations across Singapore. Navigating the entrepreneurial worldBetween quitting her job and starting Surrey Hills Grocer, Pang founded five different businesses. Pang opened her first Surrey Hills Grocer store in December 2021, and eventually went on to open four other locations.

Persons: Gek Teng Pang, Pang Gek Teng, Pang, That's, —, Alvin Lau, she's Organizations: Surrey Hills Grocer, CNBC, Surrey Hills, University of Newcastle, CNBC she's Locations: Singapore, Australian, Australia, Surry Hills

☆ Standard Chartered doubles down on its prediction that bitcoin will reach $150,000 by the end of the year
▼ + stars: | 2024-04-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Bitcoin is set for more price gains later this year, even after a recent retreat in prices, according to Standard Chartered's top crypto analyst. Geoffrey Kendrick, head of foreign exchange research, West, and digital assets research at Standard Chartered, said in a research note this week that he sees bitcoin rising to $150,000 per coin, and ether hitting $8,000 by the end of 2024 — doubling down on a bullish prediction from the bank earlier this year. Bitcoin temporarily sank below $60,000 last week as traders reacted to news of an escalating military conflict between Iran and Israel. Also, large long liquidations over the past couple of weeks mean that market positioning is a lot cleaner," Kendrick said. "As a result, with Middle East tensions easing I think it is time to re-engage in medium-term longs."

Persons: Geoffrey Kendrick, Kendrick, Bitcoin, bitcoin, That's Organizations: Standard Chartered, BTC, ETH, Securities and Exchange Commission, Treasury, HK Locations: Israel, Iran, United States, U.S

☆ The man who audited Trump's social media company misspelled his own name in 14 different ways: FT
▼ + stars: | 2024-04-25 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewThe accountant hired to audit former President Donald Trump's social media company seemed to have a lot of trouble spelling his name, the Financial Times reported on Wednesday. But others, like Blake F Borgers and Ben F Vonesh, were entirely different names. Representatives for BF Borgers and Trump Media & Technology Group did not immediately respond to a request for comment from BI sent outside regular business hours. In November, Borgers' firm was also removed from the American Institute of Certified Public Accountants' peer review program. Trump Media shares had initially soared when it went public, only to crash by nearly 40% in a matter of weeks.

Persons: —, Donald Trump's, Ben F Borgers, Ben F Brogers, Ben F orgers, Blake F Borgers, Ben F Vonesh, Borgers, Brown, WithumSmith, Trump, Forbes, Jean Carroll, he's, Stormy Daniels Organizations: Service, Financial Times, Public Company, Business, BF Borgers, Trump Media & Technology Group, BI, Bloomberg, American Institute of Certified Public Accountants, Trump, Trump Media, New Locations: New York, Manhattan, Mar

☆ Nvidia supplier SK Hynix reverses losses in first quarter on explosive AI demand
▼ + stars: | 2024-04-25 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

SK Hynix Inc. signage at the company's office in Seongnam, South Korea, on Monday, April 22, 2024. SK Hynix is the world's second-largest memory chipmaker after Samsung Electronics and supplies high-bandwidth memory chips catering to AI chipsets for companies like Nvidia . The explosive demand for AI chipsets boosted the high-end memory chip market, hugely benefiting players like SK Hynix and Samsung Electronics. To meet AI memory demand, the firm said it plans to increase supply of HBM3E – the latest generation of high-bandwidth memory for AI. SK Hynix said it will also introduce 32GB Double Data Rate 5 products this year to strengthen its leadership in the high-capacity server DRAM market.

Persons: SeongJoon Cho Organizations: SK Hynix Inc, SK Hynix, Bloomberg, Getty Images, South Korean, Revenue, Samsung Electronics, Nvidia Locations: Seongnam, South Korea, HBM3E

☆ Ukraine says it caught a man trying to escape the country by paddling on an inflatable mattress to Moldova
▼ + stars: | 2024-04-25 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

A man was caught trying to leave Ukraine via the Dniester River — on an air mattress. Ukrainian border agents found him paddling with his arms in an attempt to reach Moldova. AdvertisementUkraine's border service said on Wednesday that it caught a man attempting to cross into Moldova by "swimming" on an inflatable mattress in the Dniester River. The border service did not say if the man on the mattress was trying to dodge the draft. This isn't the first time the Ukrainian border service has caught someone in an air mattress-related incident.

Persons: — Organizations: Service, State Border Service, Dnipro, dodgers, The New York Times, BBC, NATO, Agents Locations: Ukraine, Moldova, Romanian, Russia, Ukrainian, Hungary, Kyiv

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

☆ Markets wary of intervention as yen struggles at 155 level
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: +3 min

Having traded in a tight range over the past few days, a buoyant dollar finally broke above the 155 yen level for the first time since 1990 in the previous session, and was last steady at 155.34 yen in early Asia trade. The breach of the 155 yen level comes as the BOJ meets to discuss monetary policy, though expectations are for the central bank to keep its short-term interest rate target unchanged following last month's landmark exit from negative rates. "We expect the BOJ meeting to deliver a marginally hawkish hold outcome," said Carl Ang, fixed income research analyst at MFS Investment Management. Continued expectations of gradual policy tightening and a low terminal policy rate make it difficult for the yen to appreciate significantly, even if at historically depressed levels." The dollar steadied at 105.79 against a basket of currencies, pulling away from a nearly two-week low hit in the previous session.

Persons: Carl Ang, Kazuo Ueda, Justin Smirk Organizations: Bank of Japan, MFS Investment Management, Reserve Bank of Australia, Westpac, New Zealand Locations: Tokyo, Asia, Australia

☆ 'Urban camping' in this Montana city has spiked 200% as priced-out locals move into cars and RVs
▼ + stars: | 2024-04-25 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

People living in RVs or cars has surged in Bozeman, Montana, as housing costs have spiked. "Urban camping" has made the city's unhoused population more visible. City officials say the number of Bozeman residents living in their RVs or cars spiked by 200% in two years, according to Montana PBS, which cited the city. "This — with urban camping, RVs, more cars — This is a recent phenomenon." "First, these folks are our residents too," the city website says when discussing how it's addressing urban camping.

Persons: —, Terry Cunningham, Mayor Cunningham, Steven Ankney Organizations: Service, West ., Montana PBS, Bozeman, PBS, Bozeman Daily Chronicle, Resource Development Council Locations: RVs, Bozeman , Montana, Bozeman, Montana, —, West, West . Bozeman, Yellowstone, Gallatin County

☆ Even Gwyneth Paltrow is worried about becoming an empty nester
▼ + stars: | 2024-04-25 | by ( Amanda Goh | ) www.businessinsider.com time to read: +3 min

Gwyneth Paltrow is worried about becoming an empty nester too. "It's kind of giving me a nervous breakdown, if I'm honest," Paltrow said at her 11th In Goop Health summit. Paltrow has two kids, Apple and Moses, with her ex-husband Chris Martin. AdvertisementGwyneth Paltrow is nervous about becoming an empty nester when her son heads off to college this fall. This isn't the first time Paltrow has spoken about becoming an empty nester.

Persons: Gwyneth Paltrow, Paltrow, Moses, Chris Martin, —, Coldplay, Apple, Brad Falchuk, Jennifer Freed, Jessica Sosso Organizations: Service, Hollywood, Apple, Vanderbilt University, Brown University, Times, Mayo Clinic Locations: Wisconsin, Mayo

☆ Europe’s Policymakers Get Ready to Lower Rates, Regardless of the Fed
▼ + stars: | 2024-04-25 | by ( Eshe Nelson | ) www.nytimes.com time to read: +1 min

Europe’s central bankers are trying to get out of the shadow of the United States. Now, European Central Bank policymakers are emphasizing how much the inflation problem has eased in the eurozone. All week, Europe’s policymakers reiterated their growing confidence that high inflation was dissipating in the eurozone and that their 2 percent inflation target was in sight. The E.C.B., which sets interest rates for all 20 countries that use the euro, has signaled it could cut rates at its next policy meeting in early June. “We’re clearly in a disinflation process,” said Gabriel Makhlouf, governor of Ireland’s central bank and one of the 26 members of the E.C.B.’s governing council.

Persons: “ We’re, ”, Gabriel Makhlouf Organizations: European Central Bank, International Monetary Fund, World Bank Locations: United States, Washington, Ireland’s, U.S

☆ Oil eases as U.S. demand concerns outweigh fears over Middle East conflicts
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: +2 min

Oil prices eased in early trade on Thursday as concerns about a potential slowdown in the U.S. economy amid prospects for delayed interest rate cuts outweighed worries over the risk of expanding conflict in the Middle East. Oil prices eased in early trade on Thursday as concerns about a potential slowdown in the U.S. economy amid prospects for delayed interest rate cuts outweighed worries over the risk of expanding conflict in the Middle East. Israel also said it was moving forward with plans for an all-out assault on Rafah in the south. Energy Information Administration, or EIA, data on Wednesday indicated U.S. crude oil inventories unexpectedly fell last week as exports jumped, while gasoline stockpiles decreased less than forecast. "The data provided a temporary boost to oil prices, but it didn't seem to last long," Fujitomi's Tazawa said.

Persons: Toshitaka Tazawa, Fujitomi's Tazawa Organizations: Brent, U.S . West Texas, Fujitomi Securities Co Ltd, U.S . Federal Reserve, Energy Information Administration, EIA Locations: U.S, East, Iran, Israel, Gaza, Rafah

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