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Pedestrians walk past a Pizza Hut restaurant and a KFC restaurant, both operated by Yum China, in Beijing, China, on Sept. 5, 2020. Bloomberg | Bloomberg | Getty ImagesBEIJING — Yum China is spending more on tech, an investment that's allowed it to open more stores without having to hire more staff, CEO Joey Wat told CNBC in an interview Friday. Yum China operates KFC and Pizza Hut stores in China, among other brands. With technology, she said staff can be promoted to manage multiple stores and support the opening of new locations. This year alone, the company plans to spend about $700 million to $900 million.
Persons: Joey Wat, Wat Organizations: KFC, Yum, Bloomberg, Getty, CNBC, Yum China, U.S, Companies, Walmart Locations: Yum China, Beijing, China, BEIJING, Yum, Alibaba
A dearth of Chinese travelers is nothing to "worry about," said Banyan Tree Holdings founder Ho Kwon Ping. "Most of us in the hospitality industry, a year or so ago, predicted that Chinese tourism would only start to rebound around maybe this year or even next year." For Banyan Tree Holdings — which operates more than 60 hotels in 17 countries — Ho said "Chinese tourism [is] coming back quite strongly." What's missing are the "mass group tours, which provide the numbers, but they don't come to our hotels anyway," he said. "So you have a lot more free individual travelers … and they're the ones who can pay the higher airfares and so on."
Persons: Ho Kwon Ping, CNBC's Chery Kang, — Ho Organizations: Tree Holdings, Milken, Holdings Locations: China
Three decades ago, as a University of North Carolina student, he covered a deadly shooting for the school newspaper. Last month, as a journalism professor at the same school, Ryan Thornburg kept his students safe during a lockdown — after another shooting. Thornburg, the former student journalist, didn’t even think to call his parents in California about the 1995 shooting until he saw a television news van near the scene. A few days later, it was their turn to experience a campus shooting. Students who grew up in the age of school shootings are arriving on campus extra jumpy, he said.
Persons: Ryan Thornburg, didn’t, Wendell Williamson, Williamson, Thornburg, , , , Paul Dean, Dean, Zoe Bright, I’ve, Bright, Mark, Mark Bright, Presley Bright, Dan Flannery, ” Flannery, ’ ”, Holly Ramer Organizations: University of North, UNC, Chapel Hill, International Association of Campus, University of New, Safety, Violence Prevention, Research, Case Western University, Associated Press Locations: University of North Carolina, California, University of New Hampshire, United States, , New Hampshire
“We are deeply concerned that this program is not operating in the way it was intended,” Daniel Werfel, the I.R.S. “We believe you should see only a trickle of employee retention claims coming in. Among them was the Employee Retention Credit, a tax benefit that was created as part of the initial $2 trillion pandemic relief legislation. said on Thursday that it had already paid out about $230 billion in refunds associated with the tax credit and that it had a backlog of 600,000 claims. Mr. Werfel said that 15 percent of the 3.6 million claims for the credit that the I.R.S.
Persons: ” Daniel Werfel, , Werfel Organizations: Congressional, Office Locations: Washington
Suspected fraud flagged on UK COVID-19 loans jumps 43%
  + stars: | 2023-09-14 | by ( ) www.reuters.com   time to read: +1 min
The latest figures from the Department for Business and Trade showed the level of suspected fraud as of June 30. The figure was up from the previous level of 1.18 billion pounds flagged at the end of March. Identified fraud levels have ticked up as banks look into further COVID-19 loans as they fall due. The figures show the government has paid out 7.39 billion pounds to lenders to date under the guarantees, while 17 billion pounds has been fully repaid by borrowers. Nearly 31 billion pounds' worth of loans are outstanding from borrowers still making payments on time, the data shows.
Persons: Britain's, Toby Melville, Banks, Iain Withers, Angus MacSwan Organizations: REUTERS, Department for Business, Trade, Thomson Locations: London, Britain, COVID
“Our desire to be social with different people — including influencers and celebrities, or people who are living in a different place in a different way — can all play out on social media, because it feels like we are making a personal connection,” she said. “From the data that we have so far, there is no basis to say that social media have the ability to change behavior in that way,” he said. For people looking to live and work in big cities, the post-pandemic housing situation is dire. In Manhattan in June, the average rental price was $5,470, according to a report from the real-estate brokerage Douglas Elliman. Across the city, the average rent this month is $3,644, reports Apartments.com, a listing site.
Persons: , Pablo J, Douglas, Apartments.com Organizations: Northwestern University Locations: Manhattan, London
Police detain Patsy Stevenson as people gather at a memorial site in London's Clapham Common park following the kidnap-murder of Sarah Everard, in London, Britain, March 13, 2021. REUTERS/Hannah McKay/File Photo Acquire Licensing RightsLONDON, Sept 14 (Reuters) - London's police force has apologised and paid "substantial damages" to two women detained at a vigil held in memory of Sarah Everard who was raped and murdered by a serving officer, their lawyers said on Thursday. Bindmans, the law firm who represented women, said in a statement the Metropolitan Police had now settled civil claims brought by the women, paying them damages and issuing an apology. A spokesperson for the Metropolitan Police said the vigil had taken place in extraordinary circumstances and its officers had acted in good faith. An independent watchdog report weeks after the vigil concluded police had acted appropriately.
Persons: Patsy Stevenson, Sarah Everard, Hannah McKay, Everard, Wayne Couzens, Dania Al, Stevenson, It’s, Cressida Dick, Couzens, Michael Holden, Diane Craft Organizations: REUTERS, Clapham, Metropolitan Police, Thomson Locations: London's Clapham, London, Britain
A Fashion Designer Who ‘Chose Crazy’
  + stars: | 2023-09-13 | by ( Alexandra Marshall | ) www.nytimes.com   time to read: +1 min
It was during Paris’s first pandemic lockdown that the fashion designer Marco Ribeiro felt he’d reached a creative inflection point. “I was like, ‘I can go one of two ways,’” he recalls. “ ‘Either very commercial’ — but nobody was buying anything at the time, and nobody knew how long that would last — ‘or very crazy.’ I chose crazy.”In 2019, the now-35-year-old Brazilian, who’d moved to Paris after 11 years in Buenos Aires, where he sold hand-painted bags and clothing, mostly to friends, had launched his first women’s wear line, a collection of tailored, minimalist pieces. But he never really felt like the work reflected him — where he came from, or what he wanted to convey. In place of his previous monotones are color blocking, bold stripes and a clash of florals and plaids.
Persons: Marco Ribeiro, he’d, ’ ”, , , who’d, they’re Locations: Paris, Buenos Aires
BofA's survey of fund managers found that a net 0% expect a stronger Chinese economy in the next 12 months. Investors noted that China's real estate sector is the most likely source of any future credit event risk. Describing expectations as back to "lockdown lows," BofA noted that's a whopping plummet from February, when a net 78% of respondents anticipated a stronger economy. But China's economy has slowed sharply in subsequent months, with rapid cooldowns seen in retail sales, industrial output, exports, and investment. In fact, fund managers responding to BofA's survey placed China's real estate as the most likely source of a future systemic credit event.
Persons: BofA, China's Organizations: Investors, Service, Bank of America Locations: Wall, Silicon, China, Beijing
I sometimes wondered what I had done to deserve my doppelgänger woes. Doppelgängers, which combine the German words for doppel (double) with gänger (goer), are often regarded as warnings, or omens. In an attempt to better understand the warnings carried by my doppelgänger experience, I spent many evenings immersing myself in the rich repertory of doppelgänger films. Until the underground doppelgängers get tired of the arrangement and wreak havoc. Postulating that doppelgängers were tools to express sublimated desires and terrors, it was written in 1914, just as the First World War began.
Persons: Jordan Peele’s, , , Otto Rank, Sigmund Freud, Postulating, Harry Tucker Jr Locations: Austrian
Top investors are dumping emerging market equities and buying U.S. stocks at a record pace due to concerns about a potential global crisis, according to Bank of America investment strategist Michael Hartnett. The BofA Global Fund Manager Survey showed that September saw a record jump in investor allocation to the U.S., and out of emerging market securities. The shift in asset allocation stemmed from a significant decline in China growth expectations. Bank of America's survey showed none of the respondents now expect a stronger economy in China, versus 78% when polled in February. Bank of America's survey showed investors see China real estate as the No.1 source of the next global credit event.
Persons: Michael Hartnett, Hartnett Organizations: Bank of America, Global, Survey, Bank of, People's Bank of Locations: U.S, China, Beijing, People's Bank of China
The Singer Laren Museum, where the work of art "Spring Garden" by Vincent Van Gogh was stolen, is seen closed to the public because of the coronavirus disease (COVID-19) outbreak, in Laren, Netherlands March 30, 2020. REUTERS/Piroschka Van De Wouw/File Photo Acquire Licensing RightsAMSTERDAM, Sept 12 (Reuters) - A painting by Vincent Van Gogh that was stolen from a small Dutch museum in 2020 during a COVID-19 lockdown has been recovered, the institution which owns the artwork, said on Tuesday. The painting, which dates from 1884, was stolen from the Museum Singer Laren, east of Amsterdam, where it was on loan for an exhibition. At the time, Dutch police released security footage showing the moment thieves broke into Singer Laren Museum on March 30, smashing glass doors, to steal the painting. "The painting has suffered but - at first sight - it is in good shape," the Groninger Museum said, adding it was now at theAmsterdam Van Gogh Museum and it would take weeks or months before it would be returned.
Persons: Vincent Van Gogh, Van De, Museum Singer Laren, Van Gogh's, Arthur Brand, Benoit Van Overstraeten, Alexandra Hudson Organizations: Laren Museum, REUTERS, Rights, Groninger, Museum Singer, Singer Laren Museum, Amsterdam Van Gogh, Police, Alexandra Hudson Our, Thomson Locations: Laren , Netherlands, Amsterdam, Nuenen, Amsterdam Van, Dutch
Shivon Zilis was pictured alongside Elon Musk and their twins for the first time on Wednesday. Insider first reported that Musk quietly fathered twins with Zilis, a director at Neuralink, in 2021. AdvertisementAdvertisementGrimes, whose legal name is Claire Boucher, said on X that communication about Zilis' twins "wasn't handled super well." Last week, in a since-deleted post on X Grimes accused Zilis of blocking her on social media. The Neuralink director has also taken to posting about her children in recent months.
Persons: Shivon Zilis, Elon Musk, Musk, Zilis, Elon Musk's, Walter Isaacson, , Isaacson, Musk wasn't, Justine, Grimes, He's, he's, Tesla, Justin Sullivan, Ray Kurzweil, I've, Sam Altman, OpenAI's, Jonathan Raa, Neuralink, Lorena Gonzalez Fletcher, ck Elon Musk, Gonzalez, Austin Zilis, Claire Boucher, wasn't, Musk's, X Grimes, Tau, ftw Organizations: Service, Yale University, Yale, IBM, Bloomberg Beta, Forbes, Canadian, Conference, Neuralink, Getty, Food and Drug Administration, California, Twitter, SpaceX Locations: Zilis, Wall, Silicon, Austin, Ontario, Canada, Markham , Ontario, California, Texas, Boca Chica, South Texas
But there are questions about whether a pandemic that many Americans see as long over will resonate with the electorate in 2024. Now, a recent resurgence of Covid-19 cases is giving Mr. DeSantis a chance to press the argument. Mr. DeSantis and other Republicans have seized on that as evidence that the Covid-19 debate, which they frame as a civil rights battle, is far from over. Mr. DeSantis emphasized that point during his swing through Iowa on Saturday. He has appeared repeatedly this past week on Fox News and other conservative media outlets lauding his pandemic policies, and has done interviews with local news media outlets in Iowa and New Hampshire.
Persons: DeSantis, Trump, , Idalia, , Mr Organizations: Republican, Iowa, Grundy, Fox News Locations: Florida, Iowa, New Hampshire, Jacksonville —, Jacksonville
Opinion | Luring Theater Audiences Back After Covid
  + stars: | 2023-09-10 | by ( ) www.nytimes.com   time to read: +1 min
My husband and I are guilty as charged, recognizing ourselves, painfully, in the interviews with former theater company subscribers. Before the pandemic, we subscribed to nearly every theater company in the city. We were such dedicated audience members that we timed our trips to Florida based on the City Center “Encores!” offerings. Even when theater resumed, we remain uncomfortable in large groups and are much more selective about what we choose to see. We kept two subscriptions — at the Public Theater and Lincoln Center, which maintained mask-required performances longer than most.
Organizations: , City, Public Theater, Lincoln Center Locations: Florida
FILE PHOTO-Poland's central bank governor-designate Adam Glapinski speaks during a hearing at a parliamentary panel at the Parliament in Warsaw, Poland May 20, 2016. Agencja Gazeta/Kuba Atys via REUTERS/File Photo Acquire Licensing RightsWARSAW, Sept 9 (Reuters) - Poland's main opposition party said on Saturday it would convene a state tribunal if it wins October's national election to consider allegations against ruling party figures and their allies, including the president, prime minister and the governor of the central bank. The central bank said that it "never comments on statements from politicians". It also says Prime Minister Mateusz Morawiecki should face a state tribunal for giving the order to attempt to hold the presidential elections by post in 2020. Most polls for the national election show PiS with more than 35% of the vote, while the KO grouping has around 30%.
Persons: Adam Glapinski, Atys, KO, Donald Tusk, Tusk, PiS, Glapinski, Andrzej Duda, Mateusz Morawiecki, Alan Charlish, Mike Harrison Organizations: Agencja Gazeta, REUTERS, Rights, liberal Civic Coalition, Justice, National Bank of Poland, Thomson Locations: Warsaw, Poland, Germany, Russia
Asia's ultra-high-net-worth population declined by about 10.9% last year, marking the largest regional drop in the world, a report by data firm Altrata showed. Ultra-high-net-worth (UHNW) individuals are those with a net worth of more than $30 million, according to the study. The combined net worth of Asia's super rich population was at $12.13 trillion compared with Europe's $11.73 trillion, the report showed. Europe recorded the second-worst regional performance, with a 7.1% fall to 100,850 high-net worth individuals. Inflationary shocks from Moscow weaponizing energy supplies, which Europe is reliant on, heightened risk aversion and the disruption of supply chains all led to the decline.
Persons: Altrata Organizations: Tech Locations: Ukraine, South Korea, Taiwan, Europe, Moscow
For decades, America’s corporate chieftains saw China as a money spinner. Western companies doing business in China are facing pressures that were unimaginable several years ago. The country’s economy is floundering and its relationship with the United States is strained. Many Western companies still see their China operations as a long-term bet, but the payoff is tempered with hazards. “There is a recognition among C.E.O.s that they need to mitigate some risks,” said Myron Brilliant, a senior counselor at Dentons Global Advisors-ASG.
Persons: , Myron Brilliant Organizations: Global Locations: China, United States
A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Barclays (BARC.L), Goldman Sachs (GS.N), JPMorgan Chase (JPM.N), and Mizuho Financial Group (8411.T) are the lead underwriters for the offering. Goldman Sachs, Morgan Stanley and Citigroup are lead underwriters on the offering, the company said in its filing. Its shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "KVYO". Citigroup, Morgan Stanley, UBS, and Bank of America are underwriters of the IPO, according to the filing.
Persons: Carlo Allegri, T Rowe Price, Goldman Sachs, JPMorgan Chase, Instacart, Fidji Simo, confidentially, Klaviyo, Morgan Stanley, Chibuike Oguh, Lance Tupper, Michelle Price, Aurora Ellis Organizations: New York Stock Exchange, REUTERS, Arm Holdings, Japan's Softbank, U.S . Securities, Exchange Commission, SEC, Apple, Nvidia, Devices, Intel, Samsung Electronics, AMD, Samsung, Taiwan Semiconductor Manufacturing Company, Barclays, JPMorgan, Mizuho Financial Group, underwriters, Nasdaq, Norges Bank Investment Management, Norges Bank, Sequoia Capital, D1 Capital Partners, Valiant Capital Management, Facebook, Reuters, Summit Partners, Citigroup, VNG Corp, HK, Temasek, UBS, Bank of America, Thomson Locations: New York, U.S, Russia, Ukraine, Baltimore, TCV, Sequoia, Canadian, United States, Chi Minh City, Singapore
BUEA, Cameroon (Reuters) - Armed militants stopped cars, shot at passengers and set vehicles on fire during an attack on a village in Anglophone Cameroon's South West region on Thursday, residents and a Reuters reporter said. Separatists in minority English-speaking parts of Cameroon have been fighting to carve out an independent state called Ambazonia since 2017. They carry out attacks, kidnappings and killings in the North West and South West regions. Concerned-looking resident gathered around the blackened and bullet-ridden remains of a charred car in the village of Muea, in the South West region, on Thursday as two men pulled out a body wrapped in a blanket. Insurgents began fighting the Cameroonian military in 2017 after civilian protests calling for greater representation for the Francophone country's English-speaking minority were violently repressed.
Persons: Blaise Eyong, Sofia Christensen, Sandra Maler Organizations: Armed, Francophone Locations: BUEA, Cameroon, South West, North West, Muea
Social media was having a field day turning Burning Man into the epicenter of schadenfreude and misinformation, the few people who managed to connect to the internet reported. AdvertisementAdvertisementThe reality of Burning Man was not quite so dire. 2023 was my first year at Burning Man. I'd wanted to go to Burning Man for years. Even before the floods, there was an uncomfortable tension to Burning Man.
Persons: Joy, I'd, JULIE JAMMOT, Betty, preemptively, There's, they'd, Twitter, Zeynep Tufekci, Tufekci, I've, Ansel, we'd, Rob Price Organizations: FEMA, National Guard, Social, Getty, New York Times, Rock City, YouTube Locations: Nevada, San Francisco, Silicon, playa, AFP, Somme, Northern Nevada, Rock, American, Ansel Adams, Trail
Chartbook: Global container freightIn the United States, the volume of container trade handled through the nine largest ports in July was the lowest for the time of year since 2017. The volume of container freight hauled on the major railroads in June was the lowest for the time of year since 2012. Container trade through the port of Singapore, a major transshipment point for the region, has climbed to record levels. Rising share prices would be consistent with an improving outlook for global trade, but the evidence for it so far is limited. Related columns:- Global container freight stuck in doldrums (June 23, 2023)- Global freight shows signs of bottoming out (April 27, 2023)John Kemp is a Reuters market analyst.
Persons: Mike Segar, pare, Korea’s, John Kemp Organizations: REUTERS, Manufacturers, Economic, Heathrow, China’s, Global, Thomson, Reuters Locations: Port Elizabeth , New Jersey, U.S, North America, Europe, Netherlands, United States, Japan, Narita, United Kingdom, Asia, Singapore, doldrums
Workers walk through the Canary Wharf financial district, ahead of a Bank of England decision on interest rate changes, in London, Britain, August 3, 2023. REC also reported that starting salaries rose at the joint-slowest pace since March 2021, although this was still a large increase by historic standards. A BoE survey on Thursday showed employers expect to raise wages by 5% over the coming year, above the 3-4% rate typical before the pandemic, when inflation stayed close to target. REC said there were "widespread reports" from its members that the pool of jobseekers had been swollen by increased redundancies. The REC surveyed around 400 recruitment agencies between Aug. 10 and Aug. 24.
Persons: Toby Melville, Neil Carberry, BoE, BoE Governor Andrew Bailey, jobseekers, David Milliken, Frances Kerry Organizations: Bank of, REUTERS, Confederation, REC, Bank of England, Thomson Locations: Bank of England, London, Britain
In London, an Elevated but Edgy Jewelry Style
  + stars: | 2023-09-07 | by ( Rachel Garrahan | ) www.nytimes.com   time to read: +1 min
In 2006, Ms. Martin established her namesake brand, which is focused on opulent, sculptural, genderless pieces in gold. Since then, she has weathered the expensive business of operating a fine jewelry business through recessions, lockdowns and other challenges to run a self-funded business with a showroom in a former grain warehouse in the Clerkenwell neighborhood of London. She is a walking advertisement for her latest venture, HMp (or Hannah Martin Pierced), a line of piercing jewelry and a piercing service. Overall, she hopes it will transform what is often a back-alley tattoo parlor-style experience to one that is elevated through handcrafted gold jewelry and premium customer care. “I couldn’t find one that wasn’t really ugly, so I thought I’d better make one,” Ms. Martin, 43, said during a recent interview at her Brutalist-inspired studio.
Persons: Martin, Hannah Martin, I’d, Ms, , Locations: Clerkenwell, London
Dozens of campaigners who built substantial audiences during the COVID era by opposing Australia's pandemic response have turned their focus to undermining the Oct. 14 referendum, analysis of social media posts by independent fact-checkers shows. The direct link between COVID agitators and misinformation about the Voice has not been previously reported in detail. Polls show support for the Voice has slumped from about two-thirds in April to less than 40% this month. Not one X post containing electoral misinformation was marked or taken down in the monitoring period, before or after being reported, Reset.Tech said. "Many of the accounts pushing electoral misinformation narratives turned to a style of anti-lockdown politics during the pandemic," said Reset.Tech Australia executive director Alice Dawkins.
Persons: William Bay, Hitler, Bay, Reset.Tech, Elon Musk, Alice Dawkins, Ella Woods, Joyce, Evan Ekin, Smyth, Donald Trump, Luke Howarth, Covid, David Heilpern, Graham Hood, Pauline Hanson, Tristan Van Rye, Hood, Hanson, Van Rye, Ed Coper, Rosita Diaz, Diaz, BILL Australia's, Michelle Rowland, we're, Elise Thomas, Byron Kaye, Praveen Menon, Daniel Flynn, David Crawshaw Organizations: Reuters, REUTERS, Facebook, COVID, Meta, Reset.Tech, U.S, Southern Cross University, Qantas, Aboriginal, Labor, Communications, Advance Australia, Institute for Strategic, Thomson Locations: Brisbane, Australia, BRISBANE, Brisbane's, Reset.Tech Australia, Northern Territory, Canada, U.S, New Zealand, Melbourne
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