DIRS.INFO The most relevant business & tech news

☆ Putin expected to meet Xi and Modi at SCO Summit following Wagner insurrection
▼ + stars: | 2023-07-03 | by ( Jessie Yeung | ) edition.cnn.com time to read: +8 min

CNN —All eyes will be on Vladimir Putin this week, with the Russian president expected to make his first appearance on the world stage since the Wagner insurrection threatened his steel grip on power. In the brief, chaotic insurrection, Wagner – a private mercenary group led by warlord Yevgeny Prigozhin – took control of key military facilities in two Russian cities. Participants of the 22nd meeting of the Shanghai Cooperation Organization (SCO) leaders' summit in Samarkand, Uzbekistan on September 16, 2022. By contrast, Putin managed to end the Wagner insurrection before it reached the capital, without bloodshed. Modi made headlines at last year’s in-person SCO summit in Samarkand, Uzbekistan, when he told Putin that now is not the time for war, appearing to directly rebuff the invasion.

Persons: Vladimir Putin, Wagner, Putin, Wagner –, Yevgeny Prigozhin –, Prigozhin, Xi, India’s Narendra Modi –, –, they’re, ”, Derek Grossman, Grossman, ” Grossman, Murat Kula, “, Yasuhiro Matsuda, Matsuda, ” Matsuda, “ Xi Jinping, Alexander Korolev, That’s, won’t, Korolev, India’s Modi, Modi, Joe Biden, RAND’s Grossman, India’s Organizations: CNN, Shanghai Cooperation Organization, SCO, Kremlin, RAND Corporation, Anadolu Agency, Getty, Russia, NATO, Chinese Foreign Ministry, Institute for Advanced Studies, University of Tokyo, “ Russia, China –, Kazakhstan, University of New Locations: Russian, Beijing, Moscow, Belarus, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, US, Russia, China, Samarkand, Central Asia, Iran, Ukraine, Europe, Asia, University of New South Wales, Australia, India, Washington, Indian, Goa, Delhi

☆ China unveils sweeping foreign policy law as Xi consolidates power — and aims to counter the US
▼ + stars: | 2023-06-29 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —China has unveiled a sweeping foreign relations law enshrining its right to impose “countermeasures” against actions that it deems a threat – in Beijing’s latest bid to bolster its position amid strained relations with the West. “This is the first comprehensive foreign relations law … but it (reads) more like Xi Jinping’s foreign policy declaration,” Zhao said, adding that its release comes at a moment when Xi is focused on countering what it sees as US efforts to contain China. “The party, not the government, runs China’s foreign relations. The law also includes China’s pledge to promote “high-level opening-up” of its economy, development of foreign trade and and encouraging and legally protecting foreign investment. In recent months, a campaign against consulting and due diligence firms has unnerved foreign businesses in China.

Persons: enshrining, Antony Blinken, Jinping, –, Zhao Leji, “, Xi, Washington, Lockheed Martin, Suisheng Zhao, University of Denver’s Josef, ” Zhao, ”, China’s, Sung, Li Qiang, Zhao Organizations: Hong Kong CNN, West, Global Times, Lockheed, Raytheon, Communist Party, Center for, Cooperation, University of Denver’s, University of Denver’s Josef Korbel School of International Studies, Australian National University’s Taiwan Studies Locations: Hong Kong, China, Beijing’s, Beijing, China’s, United States, Ukraine, Taiwan, Center for China, Tianjin, Europe, Denver

☆ South Africa to host BRICS summit despite Putin arrest warrant
▼ + stars: | 2023-06-29 | by ( Carien Du Plessis | ) www.reuters.com time to read: +2 min

South Africa has a duty as a signatory to the International Criminal Court (ICC) to arrest Putin if he attends the talks between the leaders of Brazil, Russia, India and China, due to an arrest warrant over the deportation of children from Ukraine. "South Africa will host the 15th BRICS Summit at the Sandton Convention Centre in Sandton, Johannesburg, from 22 to 24 August 2023," the Department of International Relations said in a statement. Presidency spokesperson Vincent Magwenya confirmed to Reuters in a text message that this meant the whole summit, including the main part involving the BRICS heads of state, would take place in South Africa. He and a spokesperson for the international relations department declined to comment on whether or not Putin will attend. On Tuesday, South Africa's Minister of International Relations Naledi Pandor said Putin had not yet replied to an invitation, sent before the ICC charged him on March 18.

Persons: Vladimir Putin, Putin, Cyril Ramaphosa, Vincent Magwenya, International Relations Naledi Pandor, Xi Jinping, Narendra Modi, Luiz Inacio Lula da Silva, Pandor, Sergey Lavrov, Tim Cocks, Andrew Cawthorne Organizations: International Criminal Court, ICC, African National Congress, ANC, Department of International Relations, Reuters, South Africa's, International Relations, India's, Thomson Locations: JOHANNESBURG, South Africa, China, Brazil, Russia, India, Ukraine, Africa, Sandton, Johannesburg

HONG KONG, June 29 (Reuters Breakingviews) - There's plenty to like about Swire Pacific's (0019.HK) Coca-Cola sale. Little wonder Swire's Hong Kong shares rallied as much as 8% on Thursday morning. The Coke sale is refreshing for investors, but only until the rest of Swire Pacific regains its fizz. Upon completion of the sale, Swire Pacific will distribute HK$11.7 billion in special dividends to its shareholders. The company also plans to enter into a 13-year agreement to provide management services to Swire Coca-Cola USA and receive an annual fee of at least HK$117 million.

Persons: Swire Pacific's, Swire, John Swire, Antony Currie, Thomas Shum Organizations: Reuters, HK, Cathay Pacific, Swire, Cola, John Swire & Sons, Cola Europacific Partners, Citi, Cathay, Swire Pacific, Hong Kong, Cola USA, Hong, Thomson Locations: HONG KONG, Hong Kong, China, Cathay Pacific

[1/5] Police officers intervene after people's reaction as demonstrators burn the Koran (not pictured) outside Stockholm's central mosque in Stockholm, Sweden June 28, 2023. "It's legal but not appropriate," he said, adding that it was up to the police to make decisions on Koran burnings. Representatives of the mosque were disappointed by the police decision to grant permission for the protest on the Muslim holiday of Eid al-Adha, mosque director and Imam Mahmoud Khalfi said on Wednesday. Up to 10,000 visitors attend Stockholm's mosque for the Eid celebrations every year, according to Khalfi. Turkey in late January suspended talks with Sweden on its NATO application after a Danish far-right politician burned a copy of the Koran near the Turkish embassy in Stockholm.

Persons: Stefan Jerrevang, Hakan Fidan, Ulf Kristersson, Momika, Eid, Imam Mahmoud Khalfi, Khalfi, Louise Breusch Rasmussen, Marie Mannes, Johan Ahlander, Burcu Karakas, Terje Solsvik, Peter Graff, Angus MacSwan, William Maclean Organizations: Police, TT News Agency, REUTERS, NATO, Swedish, Islam, Atlantic Treaty Organization, Thomson Locations: Stockholm's, Stockholm, Sweden, REUTERS STOCKHOLM, Turkey, Ankara, Ukraine, Khalfi, Danish, Turkish, Copenhagen, Istanbul

Although only two people were expected to take part, the organisers said they would tear up and burn the Koran. Sweden sought NATO membership in the wake of Russia's invasion of Ukraine last year. But alliance member Ankara has held up the process, accusing Sweden of harbouring people it considers terrorists and demanding their extradition. While Swedish police have rejected several recent applications for anti-Koran demonstrations, courts have overruled those decisions, saying they infringed on freedom of speech. Prime Minister Ulf Kristersson said at a press conference on Wednesday he would not speculate about how the approved Koran burning could affect Sweden's NATO process.

Persons: Ulf Kristersson, Kristersson, Momika, Rasmus Paludan, Paludan, Louise Breusch Rasmussen, Marie Mannes, Johan Ahlander, Terje Solsvik, Peter Graff, Angus MacSwan Organizations: Police, NATO, Islam, Atlantic Treaty Organization, Swedish, Thomson Locations: STOCKHOLM, Stockholm, Turkey, Sweden, Ukraine, Ankara, Danish, Turkish, Saudi Arabia, Jordan, Kuwait, Copenhagen

Bangkok, Thailand CNN —A Thai court on Wednesday acquitted five activists accused of obstructing the Queen’s motorcade at a protest in 2020, in a landmark judgment that ended the prospect of more severe punishment nearly three years after rare calls for reform of the powerful monarchy erupted in the kingdom. Thai Lawyers for Human Rights, which represented the five activists, said a court in the capital Bangkok acquitted the defendants on all the charges, ruling the protesters were not aware of the incoming royal convoy. On October 14, 2020, dozens of protesters had gathered outside Bangkok’s Government House when Queen’s Suthida’s motorcade drove past. If the actions are considered likely to endanger the Queen’s life, then the death penalty could be applied. When the protesters realized it was a royal procession, they allowed it to move through and there were no objects thrown or obstruction of the procession, the court found, according to Thai Lawyers for Human Rights.

Persons: Boonkueanun “ Francis ” Paothong, –, Lese, Queen’s, King Maha Vajiralongkorn’s, Prince Dipangkorn, Ekachai, Suranat Paenprasert, ‘, ’ Boonkueanun, Boonkueanun, “, ” Organizations: Thailand CNN, Thai Lawyers for Human Rights, CNN, Party, Hunger Games, Police, Queen, Relations, Mahidol University Locations: Bangkok, Thailand, Thai, Thailand’s, Bangkok’s

HONG KONG, June 27 (Reuters Breakingviews) - A government-led buyout signals more uncertainty ahead for a chip industry grappling with oversupply and geopolitics. The state-backed Japan Investment Corp will take over JSR (4185.T), which makes light-sensitive chemicals vital to manufacturing semiconductors, among other things. In recent years, the conglomerate has pivoted from a low-margin business of selling synthetic rubber used to make tyres to focus on semiconductor materials - primarily photoresists - and biopharmaceuticals. Yet JIC's mandate to boost the country’s global competitiveness and its focus on consolidating industries helps to justify the hefty premium. Either way, the government's focus on elevating national chipmaking champions creates fresh uncertainty for JSR's foreign customers like South Korea's Samsung Electronics (005930.KS) and Taiwan Semiconductor Manufacturing (2330.TW).

Persons: Sharp, Eric Johnson, Una Galani, Thomas Shum Organizations: Reuters, Japan Investment Corp, Renesas Electronics, chipmakers, Samsung Electronics, Taiwan Semiconductor Manufacturing, Japan Investment Corporation, Mizuho Bank, Development Bank of Japan, Thomson Locations: HONG KONG, Tokyo, Taiwan, Japan, United States, South Korea, South

☆ If Biden Wanted to Ease U.S.-China Tensions, Would Americans Let Him?
▼ + stars: | 2023-06-27 | by ( Ian Prasad Philbrick | ) www.nytimes.com time to read: +2 min

Americans still worry more about terrorism and other foreign policy issues than about China. “That’s percolated into the general public,” said Richard Herrmann, an Ohio State University professor who studies international relations and public opinion. A feedback loopSouring public opinion, in turn, may worsen U.S.-China relations. That might seem surprising; most Americans don’t pay that much attention to foreign policy, which is typically far removed from their daily lives. And once public opinion on a foreign policy issue calcifies, as it increasingly has on China, political leaders often pay attention to it.

Persons: ” —, Biden, ”, Richard Herrmann, Dina Smeltz, ” Joshua Kertzer Organizations: Soviets, Ohio State University, Chicago Council, Global Affairs, Democrats Locations: China, U.S, Taiwan, Washington, Harvard

[1/5] Russian President Vladimir Putin and Chinese President Xi Jinping attend a reception at the Kremlin in Moscow, Russia March 21, 2023. After securing an unprecedented third term as president earlier this year, Chinese President Xi Jinping made his first overseas trip to Moscow to meet his "dear friend" Putin. China "will be more cautious with its words and actions about Russia", said Shanghai-based international relations expert Shen Dingli. It was unclear if Yang's article was written before the Wagner rebellion and he did not respond to requests for an interview from Reuters. Other China-based academics, however, said Beijing would not change its stance on Russia as a result of the incident.

Persons: Vladimir Putin, Xi Jinping, Pavel Byrkin, Wagner, Vladimir Putin's, Shen Muhui, Alexander Neill, Yevgeny Prigozhin, Qin Gang, Putin, Shen Dingli, Yang Jun, Michal Meidan, Martin Quin Pollard, Yew, Tian, John Geddie, Alex Richardson Organizations: Kremlin, Sputnik, REUTERS, Moscow, U.S, Foreign, NATO, Beijing's China University of Political Science, Law, Reuters, The Oxford Institute for Energy Studies, European Union, Putin's, Australian National University, Shanghai, Thomson Locations: Moscow, Russia, Kremlin, China, Ukraine, Beijing, BEIJING, China's, Fujian, Singapore, United States, Shanghai, Japan, Putin's Russia

☆ Sweden sees 'cause for concern' on retailer margins as food prices surge
▼ + stars: | 2023-06-26 | by ( Marie Mannes | Thomson Reuters | Stockholm-Based Company News Correspondent Who Mainly Covers Anything To Do With Retail | ) www.reuters.com time to read: +4 min

Sweden's competition authority on Tuesday will publish the initial findings from an investigation into food prices and competition requested by Sweden's finance ministry in March. "When we look at the margins on the retail and wholesale side, we see some cause of concern in terms of how they're developing," Martin Mandorff, head of market abuse at the competition authority, told Reuters. The agency is investigating the whole food supply chain from producers, wholesalers to the retail sector and has collected data from Sweden's main supermarkets on prices and margins. Premium food chain ICA had a 53% market share in 2022 according to the competition authority. "We have a frequent and constructive dialogue with the Swedish Competition Authority and look forward to the conclusions of the investigation," the company said.

Persons: Anders Wiklund, Martin Mandorff, Mandorff, Coop, discounter Lidl, Elisabeth Svantesson, Svantesson, Axfood, Marie Mannes, Helen Reid, Simon Johnson, Greta Rosen Fondahn, Conor Humphries Organizations: TT News Agency, Reuters, ICA, Finance, SVT, Swedish Competition Authority, Thomson Locations: Stockholm, Sweden, STOCKHOLM, Hungary, Ukraine, Swedish

☆ Analysis: Vladimir Putin's humiliation will require the West to reexamine its balancing act to save Ukraine
▼ + stars: | 2023-06-26 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

CNN —The world just got a hint of a tantalizing but possibly even more dangerous future without Russian President Vladimir Putin. The Western stakes in the Ukraine war rose significantly as a result. There’s now no doubt that the war Putin unleashed to wipe Ukraine off the map poses an existential threat to his political survival. This would be good news for the West, which has bankrolled and armed the country’s fight for its life. After this weekend, this new reality will require the West to once again examine its balancing act to save Ukraine.

Persons: Vladimir Putin, Yevgeny Prigozhin flagrantly, Prigozhin’s Wagner, –, Putin, There’s, Oz, Ukraine John Herbst, CNN’s Christiane Amanpour, “ Putin, Prigozhin’s, Moscow’s, Prigozhin –, Africa –, Prigozhin, he’s, CNN’s Kevin Liptak, Biden, ”, David Petraeus, Petraeus, “, Ramzan Kadyrov, Wagner, Robert English, Alexei Navalny, Alexander Lukashenko, “ It’s, Antony Blinken, placated –, Blinken, Will Hurd, ” Hurd, Hurd –, Donald Trump –, Trump Organizations: CNN, White, Kremlin, NATO, Western, Russian Federation, Union, CIA, Internet Research Agency, School of International Relations, University of Southern, Belarusian, ”, Republican, GOP, Moscow Locations: Ukraine, Moscow, Europe, Belarus, Russian, Russia, Syria, Africa, France, Britain, Germany, Washington, “ State, University of Southern California, NATO, Crimea, Texas

STOCKHOLM, June 25 (Reuters) - One person was killed and nine injured, including children, in a roller coaster accident at the Grona Lund amusement park in the Swedish capital on Sunday, representatives of the park said. Eyewitnesses said the park's Jetline roller coaster had partly derailed during a ride, sending people crashing to the ground. The park spokesperson said 14 people were on the roller coaster when the front part partially derailed. [1/7]Emergency services attend the scene following a fatal accident that took place on the roller coaster Jetline at the Grona Lund amusement park in Stockholm, Sweden, June 25, 2023. "My husband saw a roller coaster car with people in it falling to the ground," Lagerstedt said.

Persons: Grona Lund, we've, Jan Eriksson, Grona, Eriksson, Marie Mannes Jenny Lagerstedt, Lagerstedt, Parisa Liljestrand, Liljestrand, Marie, Terje Solsvik, Emelia Sithole, Frank Jack Daniel Our Organizations: Police, Grona Lund, REUTERS, SVT, Sweden's, TT, Marie Mannes, Thomson Locations: STOCKHOLM, Lund, Stockholm, Sweden, Swedish

[1/2] Police officers work at the scene after a roller coaster accident took place at an amusement park, according to the police, in Stockholm, Sweden, June 25, 2023. Claudio Bresciani/TT News Agency/via REUTERSSTOCKHOLM, June 25 (Reuters) - One person was killed and several injured in a roller coaster accident at the Grona Lund amusement park in the Swedish capital on Sunday, the TT news agency reported, citing a park spokesperson. Public broadcaster SVT, citing eyewitnesses, said the park's Jetline roller coaster had partly derailed during a ride. "My husband saw a roller coaster car with people in it falling to the ground," Lagerstedt said. The steel-tracked Jetline roller coaster reaches a speed of up to 90 kilometres per hour (56 mph) and a height of 30 metres (98 feet), transporting more than one million visitors each year, the amusement park says on its website.

Persons: Claudio Bresciani, we've, Grona Lund, Jenny Lagerstedt, Lagerstedt, Marie, Terje Solsvik, David Goodman, Frances Kerry, Giles Elgood Organizations: Police, TT, Agency, REUTERS, Public, SVT, Marie Mannes, Thomson Locations: Stockholm, Sweden, REUTERS STOCKHOLM, Lund

☆ China throws support behind 'strategic partner' Russia after Wagner insurrection
▼ + stars: | 2023-06-25 | by ( Nectar Gan | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —China has voiced support for Russia after a short-lived insurrection posed the gravest challenge to the 23-year rule of Vladimir Putin, a close partner of Chinese leader Xi Jinping in his push for a new world order and strategic alignment against the US. “As Russia’s friendly neighbor and comprehensive strategic partner of coordination for the new era, China supports Russia in maintaining national stability and achieving development and prosperity,” it said. Russia’s Foreign Ministry said Rudenko also held “scheduled consultations” with China’s Deputy Foreign Minister Ma Zhaoxu. According to the Chinese readout, Ma told Rudenko that under the leadership of Xi and Putin, the mutual political trust and cooperation between China and Russia had grown continuously. Despite its claims of neutrality, China has refused to condemn the invasion and instead provided much-needed diplomatic and economic support for Russia, a position that has alarmed Western nations, especially in Europe.

Persons: Vladimir Putin, Xi Jinping, Wagner, Yevgeny Prigozhin, Putin, ”, Beijing’s, Prigozhin, Andrey Rudenko, Qin Gang, Rudenko, Ma Zhaoxu, Ma, Xi, “, ” Xi, Putin’s, Jin Canrong, Jin, Hu Xijin Organizations: Hong Kong CNN, Russia, US, Foreign Ministry, Kremlin, Ministry, Russian Federation, United, Australia National University’s Taiwan Studies, Renmin University, Global Times Locations: China, Hong Kong, Moscow, Beijing, Russia, Belarus, Russian, Ukraine, Western, Europe, United States, Weibo

June 23 (Reuters) - Carnival (CCL.N) is expected to post robust second-quarter revenue growth as new and younger customers, undeterred by high inflation, spend on novel experiences such as cruising. While Americans have cut back on purchasing big-ticket non-essential goods due to soaring costs, protracted confinement to their homes during the pandemic has whet their appetite for outdoor experiences. Millennials (born between 1981 and 1996) and GenX (born between 1965 and 1981) have reached peak earnings years and are feeding multi-generational travel as they spend on cruises and bring their families along, according to J.P. Morgan analysts, who lifted rating on Carnival stock to "overweight" last week. A younger customer base is helping fuel this demand, with 88% of millennial and 86% of GenX travelers that have past cruising experience intending to sail again, according to a report from Cruise Lines International Association. "Given (cruise) is a vastly under-penetrated travel product ... more marketing instead of price cuts drives growth in new-to-cruise, which has a reasonably high conversion rate to repeat-cruisers," Barclays analyst Brandt Montour said.

Persons: Morgan, Millennials, GenX, Brandt Montour, Granth, Vinay Dwivedi Organizations: Reuters Graphics Reuters, Morgan, Bank of America, Cruise Lines International Association, Barclays, Refinitiv, Thomson Locations: J.P, Bengaluru

Editor’s Note: A version of this story appears in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. The findings show that support for China has gradually risen over the years as Beijing expands its footprint in the region. Of those polled, 61% said they support US disengagement from the Middle East, with most support for this being recorded in North Africa and the Levant. It also ranks third among those countries Arabs consider an enemy this year, replacing the US which held that position last year, but now ranks fifth. Russia’s involvement in conflicts across the Middle East may be responsible for the drop in its popularity, said Jacobs.

Persons: UAE CNN —, ASDA’A, ”, Anna Jacobs, ” Young, Charles Dunne, “, ” “, Jacobs, Mahmoud Abbas, Abbas, Biden, Benjamin Netanyahu, “ Biden, Dunne, – Organizations: UAE CNN, Group, Israel, CNN, EU, Palestinian, White House Locations: Abu Dhabi, UAE, China, United States, Dubai, Beijing, Russia, Turkey, North Africa, Levant, Ukraine, multipolarity, Gulf, Saudi Arabia, East, Iran, Israel

☆ Polestar partners with Geely's Meizu to build Chinese operating system
▼ + stars: | 2023-06-19 | by ( Marie Mannes | Thomson Reuters | Stockholm-Based Company News Correspondent Who Mainly Covers Anything To Do With Retail | ) www.reuters.com time to read: +2 min

June 19 (Reuters) - Swedish electric vehicle (EV) maker Polestar said on Monday it had formed a joint venture with Xingji Meizu to build an operating system for Polestar cars sold in China that will offer the latest smart technologies in its vehicles. The venture represents a further push by the Geely group (GEELY.UL) to adapt cars specifically for Chinese consumers. The Swedish group said it would own 49% of the JV and Xingji Meizu 51%, providing $98 million and $102 million in funding respectively. Xingji Meizu has grown over the last decade in its attempt to become a Chinese rival to Android, but holds a marginal market share. Traditional carmakers have come under pressure from Chinese EV makers offering lower prices and smart consumer-facing technologies.

Persons: Polestar, Xingji, Li Shufu, Thomas Ingenlath, Xingji Meizu, Ingenlath, Marie Mannes, Elaine Hardcastle, Jan Harvey Organizations: Volvo, JV, Reuters, Google, EV, Thomson Locations: Swedish, China, U.S

☆ China 'deplores' UK security minister's meeting with Taiwanese minister
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +2 min

[1/2] British Minister of State for Security Tom Tugendhat addresses a press conference, with Kenya's Cabinet Secretary of the Ministry of Interior and National Administration Kithure Kindiki, during his visit, in Nairobi, Kenya May 10, 2023. REUTERS/Monicah Mwangi/File PhotoLONDON, June 18 (Reuters) - The Chinese embassy in London on Sunday condemned a meeting last week between Britain's security minister, Tom Tugendhat, and Taiwan's digital minister, saying it violated international relations. "This move seriously violates the one-China principle and the basic norms of international relations," a spokesperson for the Chinese embassy in London said in a statement. Although junior British ministers hold talks with their Taiwanese counterparts, the convention was that senior British ministers do not meet with Taiwanese officials. "We want to make it clear to the UK side that any actions that undermine China's interests will be met with resolute responses," the Chinese embassy spokesperson said.

Persons: Tom Tugendhat, National Administration Kithure Kindiki, Monicah, Tugendhat, Audrey Tang, Michael Holden, Sharon Singleton Organizations: British, State, Ministry of Interior, National Administration, REUTERS, Reuters, Taiwanese Digital Affairs, Thomson Locations: Nairobi, Kenya, London, Britain, China, Taiwan, Beijing, Taipei, Xinjiang

The referendum, which comes amid a wider reckoning over race relations, proposes to change the constitution and establish an advisory body called the Indigenous Voice to Parliament to give Indigenous Australians a direct say in policies that affect them. Five of those polled were funding or planned to fund the "Yes" campaign, while none endorsed nor were contributing to "No". Commonwealth Bank told Reuters it plans to fund the "Yes" campaign and had hosted two panel discussions with Indigenous speakers. Rio Tinto, which faced criticism in 2020 for destroying Indigenous rock shelters, said the Voice would bring an "additional lens" to government decision-making. Aurora Milroy, a lecturer in Indigenous affairs at the University of Western Australia, said supporting the Voice was easy publicity for companies.

Persons: Rita Wright, Loren Elliott, Anthony Albanese, Intifar Chowdhury, Albanese, Meg O'Neill, Ross Piper, Baker McKenzie, Thomas Mayo, Kate Gillingham, Peter Dutton, Coles, Rio Tinto, Fortescue, Aurora Milroy, Byron Kaye, Praveen Menon, Melanie Burton, David Crawshaw, Devayani, Anant Chandak, Veronica Khongwir, Sujith Pai Organizations: Australian, REUTERS, Australia's, BHP, Rio Tinto, Woodside Energy, Commonwealth Bank of Australia, Labor, Voice, National, Nine Entertainment, Reuters, Commonwealth Bank, Ethical Investment, Qantas, Australian Financial, Liberal, Fair Australia, Miners, Fortescue Metals, University of Western, Thomson Locations: Sydney, Australia, Rio, Western Australia, Woodside, Queensland, University of Western Australia, Melbourne

Shares of the retailer, which had consistently raised its outlook over the past two years, fell 4.5% to $45.07 after the dull forecast. Last month, rival Walmart raised its annual forecasts as more Americans shopped for its lower-priced groceries and other essentials. However, Kroger's gross margins rose 21 basis points, compared to a fall a year earlier, benefiting from lower supply chain costs as well as its efforts to source some products closer to its distribution centers. It also profited from shoppers - including higher-income consumers looking for more economical options amid persistent inflation - preferring its store-label brands to pricier national brands. Reporting by Granth Vanaik in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Joseph Feldman, Kroger, Rodney McMullen, Kroger's McMullen, Arun Sundaram, Granth, Shinjini Organizations: Kroger, Investors, Walmart, Albertsons, CFRA, Thomson Locations: Bengaluru

STOCKHOLM, June 15 (Reuters) - H&M (HMb.ST) reported weaker than expected second quarter sales on Thursday as chilly weather held back demand in key markets, although the Swedish clothes group said June had started well and its shares rose by 3% in early trading. "Sales in the second quarter were affected by unfavourable weather conditions compared to the corresponding period last year on several of the H&M group's large markets" H&M said. Zara owner Inditex (ITX.MC), whose largest market is warmer Spain, has a smaller share of sales in northern Europe and the U.S. and is also less affected by weather swings. Inditex, which has coped better than H&M in sluggish markets, last week said net sales in its quarter through April were up 13% and, in May, up 16%. H&M, whose single-biggest market is Germany, is due to publish its full quarterly earnings report on June 29.

Persons: Jefferies, Inditex, Richard Chamberlain, Marie Mannes, Anna Ringstrom, Terje Solsvik, Alexander Smith Organizations: Reuters, Royal Bank of Canada, Thomson Locations: STOCKHOLM, Swedish, Europe, Zara, Spain, U.S, Germany

☆ China eyes Blinken's visit this week with deep distrust toward the US
▼ + stars: | 2023-06-15 | by ( Nectar Gan | ) edition.cnn.com time to read: +9 min

“The coverage of Blinken’s visit in China is not nearly as extensive or enthusiastic as it has been in the West,” said Yun Sun, director of the China Program at the Stimson Center, a think tank in Washington. (Chinese experts say it was because the US failed to lift sanctions on Li, imposed in 2018 over China’s purchase of Russian weapons.) China cut off talks with US military commanders following former US House Speaker Nancy Pelosi’s visit to Taiwan last August. Zhao said China has adopted “a brinkmanship policy” to highlight the risk of military confrontation to the US. Wang, the expert at Peking University, said Blinken’s long-delayed visit is the “last chance” to repair ties with China before the US election next year.

Persons: Antony Blinken, Washington, Blinken, Qin Gang, State Department –, ”, Yun Sun, “, “ We’re, ” Daniel Kritenbrink, Trump, Wang Yong, Biden, Joe Biden, ” Wang, Tong Zhao, Lloyd Austin, Li Shangfu, Li, Nancy Pelosi’s, Zhao, ” Zhao, ‘, Blinken’s, Janet Yellen, John Kerry, Sun, ” lockdowns, Xi Jinping’s, Xi, Wang Organizations: Hong Kong CNN, China’s, State Department, Biden, China Program, Stimson, State, Peking University, Foreign Ministry, Carnegie Endowment, International, Defense Locations: China, Hong Kong, Beijing, Washington, East Asia, Taiwan, South China

☆ I came to the US 10 years ago as a refugee. I went to college, got my citizenship and now I drive a long-haul truck.
▼ + stars: | 2023-06-14 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +5 min

After getting his bachelor's degree, he decided to get into trucking to buy a house for his mother. He says the American dream is all about having the freedom to work hard to achieve your own goals. There's something very American about the hard work of being a truck driver. And you get your truck, your license, and live the American dream, because you're making good money, and you achieve your dream. Some people come into trucking to buy a house, some people come into trucking to buy another truck.

Persons: Suud Olat, who'll, George Floyd, Bono, they're, You've, I've, haven't, I'm Organizations: Morning, Minnesota Department of Human Services, Young, UNHCR, UN Refugee Agency, Cloud State University, ONE, Washington State Locations: Kenya, Somalia, Minneapolis , Minnesota, America, Nashville , Tennessee, Nashville, American, Minnesota, St, Minneapolis, Salt Lake City, Dallas , Texas, Jersey City , New Jersey, Miami

☆ Millionaires are fleeing China at a faster pace as the post-COVID economic rebound fizzles
▼ + stars: | 2023-06-13 | by ( Jason Ma | ) www.businessinsider.com time to read: +3 min

Millionaires are fleeing China at a faster pace as the post-COVID economic rebound fizzles. China will see a net loss of 13,500 in 2023, up from 10,800 in 2022, the Henley Private Wealth Migration Report said. Meanwhile, the US will see a net gain of 2,100 millionaires, up from 1,500 last year. China will see a net loss of 13,500 high-net-worth individuals in 2023, up from 10,800 in 2022, according to the Henley Private Wealth Migration Report. After China's economy expanded strongly from 2000 to 2017, the growth of millionaires since then has been negligible, he added.

Persons: —, Andrew Amoils, Amoils, Henley, gainers, Juerg Steffen Organizations: Millionaires, Henley, Wealth, Service, Huawei, United, United Arab Emirates, Partners Locations: China, fizzles, Henley, Taiwan, Hong Kong, India, Australia, United Arab, Singapore

Search resuls for: "International Relations"

25 mentions found