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☆ The Week That Was: CPI lower in December
▼ + stars: | 2023-01-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Week That Was: CPI lower in DecemberCNBC's Dominic Chu looks back at the week's top business and financial stories.

☆ Explainer: Why Malaysia is considering a ban on palm oil exports to the European Union
▼ + stars: | 2023-01-13 | by ( Mei Mei Chu | ) www.reuters.com time to read: +3 min

It is not clear whether Malaysia is considering a direct ban on exports to the European Union or enacting tariffs. WHAT ABOUT MALAYSIAN PALM OIL EXPORTS TO EUROPE? Malaysian Palm Oil Board data indicates that exports to the 27-member bloc have been declining since 2015. WHERE ELSE CAN MALAYSIA PALM OIL EXPORTS GO? Several publicly-listed Malaysian palm oil companies, however, have established refineries in Europe and an export ban would disrupt their operations.

Rep. Judy Chu, D-Calif., the chair of the Congressional Asian Pacific American Caucus (CAPAC), said she has personally spoken to Jeffries and recommended that Rep. Andy Kim, D-N.J., should be the ranking member. “The Republicans made it very clear that the committee is primarily focused on … counter intelligence and economic espionage issues which have been the focus of my own work, especially on the Intelligence Committee,” Krishnamoorthi said in an interview. Rep. Elissa Slotkin, D-Mich., a former CIA analyst who is eyeing a possible Senate bid in 2024, has also expressed interest in the top role on the China panel. But while CAPAC is divided, its members agree that the ranking member of the new panel should be Asian American. Think about that," said one CAPAC member.

☆ Malaysia says it could stop palm oil exports to EU after new curbs
▼ + stars: | 2023-01-12 | by ( Mei Mei Chu | ) www.reuters.com time to read: +2 min

Since the EU is a major palm oil importer, the law, agreed to in December, has raised an outcry from Indonesia and Malaysia, the top producers. CPOPC, which is led by Indonesia and Malaysia, has previously accused the EU of unfairly targeting palm oil. EU demand for palm oil was expected to decline significantly over the next 10 years even before the new law was agreed to. Fadillah said: “This will mean that we will have to be more coordinated in our efforts in conveying our stand and stance on policy matters that will affect the socio-economic wellbeing of our respective countries.”The EU is the world’s third-largest palm oil consumer, according to Malaysian Palm Oil Board data. It accounts for 9.4% of palm oil exports from Malaysia, taking 1.47 million tonnes in 2022, down 10.5% from a year earlier.

☆ Malaysian urges palm oil producers to boost cooperation after EU rules
▼ + stars: | 2023-01-12 | by ( Mei Mei Chu | ) www.reuters.com time to read: +1 min

Slideshow ( 2 images )KUALA LUMPUR (Reuters) - Malaysia on Thursday called on countries producing palm oil to strengthen cooperation following new European Union (EU) legislation aimed at reducing the use of palm oil-based fuels. The EU is a key palm oil importer but demand is expected to fall significantly within the next 10 years due to a renewable energy directive to phase out palm-based transport fuels by 2030 over perceived links to deforestation. Malaysian Commodities minister Fadillah Yusof urged the Council of Palm Oil Producing Countries (CPOPC) - led by Indonesia and Malaysia - to work together against the new regulations and to combat “baseless allegations” made by the EU and the United States about the sustainability of the edible oil. CPOPC had previously accused the EU of unfairly targeting palm oil and creating trade barriers. Indonesian President Joko Widodo and Malaysian Prime Minister Anwar Ibrahim this week agreed to “fight discrimination against palm oil” and strengthen cooperation through CPOPC.

☆ WWE Board Elects Vince McMahon Executive Chairman
▼ + stars: | 2023-01-11 | by ( Patrick Chu | ) www.wsj.com time to read: 1 min

Vince McMahon had previously retired as WWE chief executive and chairman amid a board investigation of sexual misconduct claims against him. World Wrestling Entertainment Inc. said Tuesday night its board of directors unanimously voted to elect majority owner Vince McMahon as executive chairman of the board, less than a week after the former chief executive returned to the company and ousted three directors, while two other board members resigned. Mr. McMahon’s daughter, Stephanie McMahon, has resigned as chairwoman and co-chief executive officer, the company said in a statement. Nick Khan will serve as the sole chief executive.

☆ Used car prices begin to fall as tight supply eases
▼ + stars: | 2023-01-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUsed car prices begin to fall as tight supply easesCNBC's Dominic Chu reports on a drop in used vehicle prices as tight supply starts to ease up.

☆ With few entry tests, Southeast Asia may gain most from China's travel revival
▼ + stars: | 2023-01-06 | by ( Xinghui Kok | ) www.reuters.com time to read: +4 min

Except for airplane wastewater testing by Malaysia and Thailand for the virus, the region's 11 nations will treat Chinese travellers like any others. As many as 76% of Chinese travel agencies ranked Southeast Asia as the top destination when outbound travel resumed, according to a survey released in December by trade show ITB China. Thailand already expects to welcome 5 million Chinese travellers this year, or about half of the 10.99 million of 2019. Neighbouring Malaysia projects 1.5 million to 2 million Chinese tourists this year versus 3 million before the pandemic. "But for Cambodia, it’s an invitation to Chinese people: Chinese tourists, come to Cambodia."

SINGAPORE, Jan 6 (Reuters) - Crypto exchange Huobi plans to lay off about 20% of its staff, the company told Reuters on Friday. With the current state of the bear market, a very lean team will be maintained going forward," Huobi said in a statement, responding to queries from Reuters. Sun, a Chinese cryptocurrency entrepreneur who is also a member of Huobi's global advisory board, said in an internal memo to Huobi staff that the company has been like "a fire in the (crypto) winter" despite the deteriorating macro environment. Huobi was ranked the eighth largest crypto exchange in terms of volume as of last November, according to analytics website CoinGecko. It was not immediately clear how many staff Huobi currently has.

☆ Malaysia to screen inbound travellers, including from China, for fever
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +1 min

KUALA LUMPUR, Dec 30 (Reuters) - Malaysia on Friday said it will screen all inbound travellers for fever and test wastewater from aircraft arriving from China for COVID-19 as part of fresh measures to prevent an outbreak following Beijing's decision to lift strict zero-COVID policies. The Health Ministry is taking preventative measures as the country faces a risk of an influx of coronavirus cases from abroad, Minister Zaliha Mustafa said in a statement. Malaysia joins countries like United States, India, Italy and Japan in taking new measures as a wave of infections erupted across China after Beijing's abrupt decision to dismantle COVID restrictions. Zaliha said Malaysia will screen body temperatures of all inbound travellers, including those from China, and those detected with fever or other symptoms will be tested for COVID-19. Reporting by Mei Mei Chu; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

"It's not a question of if it will happen, it's now just a matter of how many and how fast." As the Lunar New Year holiday - typically a peak travel period for Chinese tourists - starts on Jan. 21, some businesses are already gearing up. Japan, however, is being cautious about Chinese tourism due to the rapid spread of the virus in China. Australia, Germany, Thailand and others, however, said they would not impose additional rules on Chinese travel for now, with France taking to social media platform Sina Weibo to emphasise it welcomed Chinese friends "with open arms". "I suspect any meaningful rebound will have to wait until the travel boom in June or July next year."

☆ Malaysia finds body of last person unaccounted for in campsite landside
▼ + stars: | 2022-12-24 | by ( ) www.reuters.com time to read: +1 min

[1/2] Rescuers work during a rescue and evacuation operation following a landslide at a campsite in Batang Kali, Selangor, Malaysia, December 17, 2022. REUTERS/Hasnoor HussainKUALA LUMPUR, Dec 24 (Reuters) - Rescue teams in Malaysia on Saturday recovered the body of the last person unaccounted for after a landslide that flattened a campsite last week, bringing what is thought to be the final death toll to 31. Rescue workers, in their ninth day of search operations, found the body of a boy in a sleeping bag while digging through mud and debris, Hulu Selangor police chief Suffian Abdullah said. Suffian said they believe all victims have now been found, but search operations will continue to assist in investigations. Reporting by Mei Mei Chu; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Buying Peloton and similar growth stocks is 'absolute nonsense,' says strategist
▼ + stars: | 2022-12-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

High-growth tech stocks are unlikely to rebound after a "pivot" on interest rates from the Federal Reserve, according to one market strategist. This high-interest-rate environment has devalued equities and sent many tech stocks, including the Nasdaq Composite , firmly into a bear market this year. In such an environment, Toogood said stocks such as Peloton were an "absolute nonsense" trade for investors and pointed to its more-than-70% decline this year to date. Wood has attracted criticism from a range of value investors for the fund's lackluster performance, including Toogood. The ARK Next Generation Internet ETF , another fund also run by Cathie Wood, previously held Peloton shares.

☆ Thailand hosts Myanmar junta figures in talks, key ASEAN nations skip
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +4 min

Foreign ministers of Myanmar, Laos and Cambodia and Vietnam's deputy foreign minister joined the talks hosted by Thailand's foreign minister, according to Thai foreign ministry spokeswoman Kanchana Patarachoke. "The consultation was a non-ASEAN meeting but intended to complement ASEAN’s ongoing collective efforts to find a peaceful political resolution," Kanchana said in a statement. Myanmar Foreign Minister Wunna Maung Lwin attended along with Kan Zaw, minister for investment and foreign economic relations, and Ko Ko Hlaing, minister for international cooperation, Myanmar's foreign ministry said in a statement. The Philippines said its foreign minister would also not join, without elaborating. "Any meeting convened under ASEAN, formal or informal, should not divert from this decision," it said, according to the source.

☆ House Democrats vote to make material related to Trump's personal tax returns public
▼ + stars: | 2022-12-21 | by ( Warren Rojas | Kimberly Leonard | ) www.businessinsider.com time to read: +8 min

The Democratic-majority House Ways and Means Committee voted to make materials related to Trump's tax returns public. Some of this was already revealed in 2020 when The New York Times obtained decades of Trump's tax information. "If this injustice can happen to President Trump, it can happen to all Americans without cause," Cheung wrote. US Treasury officials gave Neal Trump's tax filings for 2015-2020 in late November. Neal and other Democratic tax writers have been deliberating about how to handle Trump's tax documents for weeks.

☆ Malaysia floods force tens of thousands to evacuate
▼ + stars: | 2022-12-21 | by ( Mei Mei Chu | ) www.reuters.com time to read: +1 min

At least two people have died as floods hit five states this week, and authorities have set up hundreds of relief shelters as the number of people displaced grows. [1/5] Residents are rescued by a boat from the flood relief centre as the flood water rise and partially submerged the building at Dungun, Terengganu, Malaysia December 21, 2022. More than 70000 were forced into relief centres, with numbers rising in Kelantan, Terengganu and Pahang, according to local media. REUTERS/Stringer 1 2 3 4 5Videos on social media showed brown water gushing into fields and streets, submerging cars and causing rivers to breach their banks. Reporting by Mei Mei Chu; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

Of the 94 people caught in the landslide, 61 were safe and nine still missing, the Selangor state fire and rescue department said. Hulu Selangor police chief Suffian Abdullah said police have questioned the operator and two workers of the campsite at Father's Organic Farm. [1/2] A rescuer crew member pats a sniffer dog being used to aid in the search for victims of the landslide in Batang Kali, Selangor, Malaysia, December 17, 2022. Flooding is also common, with about 21,000 people displaced last year by torrential rain in seven states. Reporting by Mei Mei Chu amd Yuddy Cahya Budiman; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Why NBA star Jimmy Butler is betting on coffee to bank big bucks
▼ + stars: | 2022-12-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy NBA star Jimmy Butler is betting on coffee to bank big bucksJimmy Butler of the NBA's Miami Heat and founder of coffee company Bigface Brand talks with CNBC's Dom Chu about turning a hobby during the 2020 NBA 'Covid bubble' into a big business.

☆ Search continues for 9 campers caught in Malaysia landslide
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: +1 min

[1/2] A rescuer crew member pats a sniffer dog being used to aid in the search for victims of the landslide in Batang Kali, Selangor, Malaysia, December 17, 2022. REUTERS/Hasnoor HussainKUALA LUMPUR, Dec 18 (Reuters) - The search for missing campers caught in a deadly landslide at an unlicensed campsite in Malaysia continued for a third day on Sunday, with the fire department saying the chance of finding survivors is slim. Of the 94 people caught in the landslide, 61 were safe and nine still missing, the Selangor state fire and rescue department said. Responders have deployed excavators and rescue dogs to search for people trapped under mud and debris, while heavy rain has raised concern of further landslides. Flooding is also common, with about 21,000 people displaced last year by torrential rain in seven states.

KUALA LUMPUR, Dec 17 (Reuters) - Rescue teams searching for survivors from a landslide that tore though a campsite in Malaysia recovered the bodies of a woman and two children on Saturday, officials said, raising the death toll to 24. The landslide in Batang Kali, a popular hilly area about 50 km (30 miles) north of Kuala Lumpur, flattened the unlicensed campsite early on Friday while people slept in their tents. Of the 94 people caught in the slide, 61 were safe and nine still missing, according to the Selangor state fire and rescue department. Search and rescue operations resumed for a second day earlier on Saturday, after a halt overnight due to heavy rains. Survivors are in stable condition and will also receive trauma counselling, said Health Minister Zaliha Mustafa.

☆ Malaysia campsite search continues as 12 still missing after deadly landslide
▼ + stars: | 2022-12-17 | by ( ) www.reuters.com time to read: +2 min

[1/4] Rescuers work during a rescue and evacuation operation following a landslide at a campsite in Batang Kali, Selangor state, on the outskirts of Kuala Lumpur, Malaysia, December 16, 2022, in this picture obtained from social media. Korporat JBPM/via REUTERSKUALA LUMPUR, Dec 17 (Reuters) - The search for the remaining 12 campers caught in Friday's deadly landslide at an unlicensed campsite in Malaysia continued for a second day after an overnight halt due to bad weather, officials said. At least 21 people, including five children, were killed after a landslide in Batang Kali, a popular hilly area about 50 km (30 miles) north of Kuala Lumpur, tore down while people slept in their tents. There were 94 people caught in the landslide but 61 were safe, with 12 still missing, according to the Malaysia National Disaster Management Agency. ($1 = 4.4220 ringgit)Reporting by Mei Mei Chu; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ The ETF strategies that have thrived in a down market year
▼ + stars: | 2022-12-14 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +4 min

Funds tied to China, like the KraneShares CSI China Internet ETF (KWEB) , have made significant rebounds on the China reopening. "All eyes are on China," Tom Lydon, vice chairman of VettaFi, told Dominic Chu on CNBC's "ETF Edge" on Monday. China aside, fixed income funds are also seeing an end-of-year pop as more investors seek out opportunities for tax-loss harvesting plays. Its income-focused product, GraniteShares HIPS US High Income ETF (HIPS) provides exposure to four of the highest-yielding securities across alternative income: MLPs, REITs, BDCs and closed-end funds. The JPMorgan Equity Premium Income ETF (JEPI) seeks to provide a majority of the returns tied to the S&P 500 Index, while the Nationwide Risk-Managed Income ETF (NUSI) replicates the Nasdaq-100.

☆ Food inflation: Tight grain, oilseed supplies to keep prices elevated
▼ + stars: | 2022-12-13 | by ( Naveen Thukral | ) www.reuters.com time to read: +4 min

"As this stage, it looks highly unlikely, if we look at the global production prospects for cereals and oilseeds." Wheat, corn and palm oil futures have from dropped from record or multi-year highs but prices in the retail market remain elevated and tight supplies are forecast to support prices in 2023. Food imports costs are already on course to hit a near $2 trillion record in 2022, forcing poor countries to cut consumption. Corn and soybeans climbed to their highest in a decade, while Malaysia's benchmark crude palm oil prices climbed to a record high in March. For rice, prices are expected to remain high as long as export duties imposed earlier this year by India, the world's biggest supplier, remain in place, traders said.

☆ Michelle Yeoh joins cast of Jon M. Chu's 'Wicked' films
▼ + stars: | 2022-12-09 | by ( ) www.nbcnews.com time to read: +1 min

Michelle Yeoh has joined the star-studded cast of Jon M. Chu’s “Wicked” movies, Variety can exclusively reveal. The “Everything Everywhere All At Once” star will play Madame Morrible, the headmistress of Crage Hall at Shiz University. Jeff Goldblum continues to be in talks to play the Wizard, but a final deal has not been signed, according to sources. “She is funny and unbelievably talented and unbelievably sweet and truly working hard. I’m excited for both of us.”Reps for Yeoh and Universal did not comment.

☆ Digging into the finer details of the financials
▼ + stars: | 2022-12-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDigging into the finer details of the financialsLaying out the charts for the financials. With CNBC's Dominic Chu and the Options Action traders, Carter Worth, Mike Khouw and Scott Nations.

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