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☆ Goldman Sachs offloads $1 billion of Marcus loans to Varde
▼ + stars: | 2023-07-13 | by ( Saeed Azhar | ) www.reuters.com time to read: +1 min

NEW YORK, July 13 (Reuters) - Goldman Sachs Group (GS.N) has sold $1 billion of personal loans from its consumer unit, Marcus, to alternative investment firm Varde Partners, a source familiar with the matter said on Thursday. This was the second tranche of unsecured loans offloaded by Goldman after it disclosed earlier it had sold about $1 billion from the $4.5 billion loan portfolio in the first quarter. The Wall Street giant booked a $470 million loss on the sale of some Marcus loans in the first quarter, which dragged down its earnings. The sale to Varde was reported by Bloomberg News earlier on Thursday, citing people with knowledge of the transaction, saying the loans were sold at a discount to their face value to Varde. Founded in 1993, Varde has invested $95 billion across both public and private credit markets.

Persons: Marcus, GreenSky, Goldman, Varde, Saeed Azhar, Shinjini Ganguli, Josie Kao Organizations: YORK, Goldman Sachs, Varde Partners, Goldman, Street, Bloomberg, Varde, Thomson Locations: North America, Europe, Asia Pacific, New York, Bengaluru

☆ UK lawmakers launch inquiry into sexism in finance
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 14 (Reuters) - British lawmakers have launched a fresh inquiry into sexism in the country's finance industry, parliament's influential Treasury committee said in a statement on Friday. The inquiry will assess issues including progress made in removing gender pay gaps, how best to support diversity and combating sexual harassment and misogyny, the committee said. The move comes amid renewed scrutiny of sexual misconduct in finance, after hedge fund founder Crispin Odey was ousted from his firm in June after allegations of sexual misconduct jointly reported by the Financial Times and Tortoise Media. The average gender pay gap across 20 of the biggest finance employers was 30.1% in favour of men in 2022, a Reuters analysis in April showed, compared to the UK average of 8.3%. This is a subject of marked importance to our Committee and we look forward to beginning work on this important topic," said Harriett Baldwin, chair of the Treasury committee.

Persons: Crispin Odey, Odey, Harriett Baldwin, Iain Withers, Josie Kao Organizations: Financial Times, Tortoise Media, Treasury, Thomson

July 14 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Together, the fall in the dollar's value and U.S. bond yields is a potent loosening of financial conditions for global markets, particularly emerging markets. MSCI's World stock index jumped more than 1% on Thursday to its highest since April last year. The S&P 500 and Nasdaq also hit fresh 15-month highs, and the MSCI Asia ex-Japan index jumped more than 2%. The broadest index of Asia and Pacific shares is now up 5% this week, firmly on course for its best week since November.

Persons: Jamie McGeever, Premier Li Qiang, Josie Kao Organizations: Investors, Nasdaq, Premier, Thomson, Reuters Locations: Singapore, Asia, Japan, Pacific, Japanese, China, Beijing, India

WASHINGTON, July 13 (Reuters) - The U.S. Federal Trade Commission (FTC) asked a federal court on Thursday for a stay that would prevent Microsoft (MSFT.O) from closing its $69 billion purchase of "Call of Duty" maker Activision Blizzard (ATVI.O). A federal judge had ruled for Microsoft on Tuesday, saying the agency had failed to show the deal would be illegal under antitrust law. The FTC appealed that loss late on Wednesday, and Microsoft has said it would fight that appeal. In its motion, the FTC asked for an order that would prevent the deal from closing until after the 9th U.S. Circuit Court of Appeals has ruled on a separate stay request filed with that court.

Persons: Jacqueline Scott Corley, Diane Bartz, Tim Ahmann, Josie Kao Organizations: U.S . Federal Trade Commission, Microsoft, Activision, FTC, U.S, Circuit, Appeals, Britain's, Markets Authority, Thomson Locations: Britain, California

REUTERS/Aly Song/File PhotoJuly 13 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The one percentage point fall in June headline consumer price inflation to 3.0% strengthened hopes that the U.S. economy is heading for a 'soft landing', boosting risk appetite and, more importantly for emerging markets, slamming the dollar. The yen has risen five days in a row, its longest winning streak against the dollar since November. That would be the biggest fall in exports since January - economists at SocGen are penciling in a 15.7% crash. Here are key developments that could provide more direction to markets on Thursday:- South Korea interest rate decision- China trade (June)- Thailand parliament elects new prime ministerBy Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Jamie McGeever, BOK, Josie Kao Organizations: Shanghai Stock Exchange, REUTERS, Asia FX, South Korean, Bank of, Thomson, Reuters Locations: Pudong, Shanghai, China, U.S, Asia, Pacific, Zealand, SocGen, Korea, Thailand

☆ Guatemala top court reverses ban on anti-graft presidential candidate
▼ + stars: | 2023-07-13 | by ( Sofia Menchu | ) www.reuters.com time to read: +5 min

The Constitutional Court said it had granted a provisional injunction filed by the Semilla party against a judge's order to suspend the party and seemingly kick Arevalo out of the race. Asked about the potential for U.S. sanctions on those behind the Semilla suspension, a U.S. State Department spokesperson cited sanctions already imposed on Curruchiche and Attorney General Maria Consuelo Porras but declined to say more. Arevalo told reporters earlier on Thursday he believed the lower court's move against Semilla violated a Guatemalan law preventing political party suspensions during an election. Arevalo's presidential rival Torres urged the popular vote be respected and said she was suspending her campaign in solidarity with Semilla voters. Aldana by then had a reputation as an anti-graft crusader and helped oust, prosecute and imprison conservative former President Otto Perez.

Persons: Cinthia Monterroso, Guatemala Attorney General's, Bernardo Arevalo's, Read, Bernardo Arevalo, Arevalo, Sandra Torres, Semilla, Rafael Curruchiche, U.S . State Department's Engel, General Maria Consuelo Porras, Juan Jose Arevalo, Alejandro Giammattei, Giammattei, Torres, Thelma Aldana, Otto Perez, Sofia Menchu, Dave Graham, Valentine Hilaire, Matt Spetalnick, Kylie Madry, Cassandra Garrison, Sarah Morland, Stephen Eisenhammer, Josie Kao, Lincoln Organizations: Guatemala Attorney, GUATEMALA CITY, Constitutional, European Union, U.S, U.S . State, Semilla, Washington D.C, Thomson Locations: Guatemala, Guatemala City, GUATEMALA, June's, The U.S, U.S, Canada, Britain, Chile, Norway, Mexico, U.S ., Curruchiche, Mexico City, Washington

☆ US slaps sanctions on Sinaloa Cartel fentanyl network
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, July 12 (Reuters) - The U.S. Treasury Department on Wednesday imposed sanctions on 10 Mexican nationals and one company in the country for their alleged involvement in the Sinaloa Cartel's vast illicit fentanyl trafficking network. The sons, known as "Los Chapitos," are accused of leading a faction of the Sinaloa Cartel after their father's 2016 capture and extradition to the U.S. a year later. The U.S. Treasury also sanctioned an import-export company, REI Compania Internacional, and its majority shareholder for allegedly receiving chemical shipments from China. Lopez Obrador added that his Security Minister Rosa Icela Rodriguez would meet this month with U.S. U.S. President Joe Biden's administration has been seeking increased cooperation from Mexico and China in stemming the flow of fentanyl and its precursor chemicals.

Persons: Noel Lopez Perez, Joaquin, El, Ricardo Paez Lopez, El Chapo's, Ovidio Guzman Lopez, Andres Manuel Lopez Obrador, Lopez Obrador, Rosa Icela Rodriguez, Elizabeth Sherwood, Randall, Joe Biden's, Kylie Madry, Stefanie Eschenbacher, Raul Cortes, Sarah Morland, Mark Heinrich, Josie Kao Organizations: MEXICO CITY, U.S . Treasury Department, Treasury, Foreign Assets, U.S . Treasury, REI Compania Internacional, U.S . Homeland Security, Thomson Locations: MEXICO, Sinaloa, U.S, United States, Mexico, China, Mexican

LONDON, July 7 (Reuters) - Unsure which way the cookie crumbles from here - investors are being tempted to drop the bond. The broadest measures of government and corporate bonds have just stuck in mud. Two-year government bond yields are soaring. With June U.S. jobs growth going up yet another gear, U.S. Treasury yields hit 16-year highs above 5%, German equivalents hit their highest in 15 years and British gilt yields scaled 2008 peaks. For all but longer-term pension and insurance funds or banks, bonds may be neither fish nor fowl for a while to come.

Persons: hasn't, Stocks, midyear underperformance, Mike Dolan, Josie Kao Organizations: Global, Bloomberg U.S, Treasury, Bank of, JPMorgan, Europe, Reuters, Twitter, Thomson

DUBAI, July 7 (Reuters) - Dubai's Roads and Transport Authority (RTA) has selected Rothschild & Co (ROTH.PA) to advise on the strategic review of its assets, two sources close to the matter said on Thursday. The transport regulator is considering an initial public offering of Dubai Taxi Corp and its public parking business, said the sources, who declined to be named as the matter is not public. The authority is expected to appoint Emirates NBD for the potential IPOs, two sources with knowledge of the matter said. Dubai raised nearly $8.5 billion from five IPOs last year, fuelled by a government privatisation plan to list 10 state-linked companies to boost stock market activity. The authority was also looking at potential options for its public parking assets and the Nol card, which passengers use to pay for public transport across the emirate.

Persons: Rothschild, Emirates NBD, Nol, Hadeel Al Sayegh, Yousef Saba, Jonathan Oatis, Josie Kao, Louise Heavens Organizations: Transport Authority, Co, Dubai Taxi Corp, RTA, Rothschild, Emirates, dnata, Reuters, Companies, Thomson Locations: DUBAI, Dubai's, Dubai, Europe, Middle East, Africa

[1/2] Meta's Threads app and Twitter logos are seen in this illustration taken July 4, 2023. Meta, which launched Threads on Wednesday and has logged more than 30 million sign ups, looks to take on Elon Musk's Twitter by leveraging Instagram's billions of users. Spiro, in his letter, accused Meta of hiring former Twitter employees who "had and continue to have access to Twitter's trade secrets and other highly confidential information," News website Semafor first reported. "Twitter intends to strictly enforce its intellectual property rights, and demands that Meta take immediate steps to stop using any Twitter trade secrets or other highly confidential information," Spiro wrote in the letter. "No one on the Threads engineering team is a former Twitter employee — that's just not a thing," Meta spokesperson Andy Stone said in a Threads post.

Persons: Dado Ruvic, Mark Zuckerberg, Alex Spiro, Meta, Spiro, Semafor, — that's, Andy Stone, Musk, Mark Lemley, Jeanne Fromer, Akash Sriram, Tiyashi Datta, Jody Godoy, Katie Paul, Shailesh Kuber, Josie Kao Organizations: REUTERS, Twitter, Meta, Facebook, Elon, Reuters, Stanford, New York University, Thomson Locations: Bengaluru, New York

☆ Canada port strike may add to inflation concerns ahead of rate decision
▼ + stars: | 2023-07-06 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

[1/3] A view shows placards as longshoremen with the International Longshore and Warehouse Union Canada (ILWU) strike outside the Port of Vancouver's Neptune Bulk Terminals in North Vancouver, British Columbia, Canada July 5, 2023. Some 7,500 dock workers went on strike on Saturday for higher wages, upending operations at two of Canada's three busiest ports, the Port of Vancouver and Port of Prince Rupert. Money markets expect the central bank to tighten further, possibly as soon as at a policy decision next Wednesday. The Canadian Manufacturers & Exporters (CM&E) industry body said the strike is disrupting C$500 million in trade every day. ($1 = 1.3360 Canadian dollars)Reporting by Fergal Smith, editing by Steve Scherer and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Helgren, Port of Prince Rupert, Andrew Grantham, Seamus O'Regan, It's, Robert Kavcic, Fergal Smith, Steve Scherer, Josie Kao Organizations: Warehouse Union, REUTERS, TORONTO, Bank of Canada, BoC, CIBC Capital Markets, Bank of, Reuters, Twitter, Canadian Manufacturers, BMO Capital Markets, Thomson Locations: of, North Vancouver, British Columbia, Canada, Port of Vancouver, Port of, Bank of Canada

July 6 (Reuters) - Uber Technologies Inc (UBER.N), DoorDash Inc (DASH.N) and other app-based food delivery companies filed lawsuits on Thursday seeking to strike down New York City's novel law setting a minimum wage for drivers. The companies filed separate complaints in New York state court claiming the law, which takes effect next week, is based on a misunderstanding of how the food delivery industry works. Relay Delivery Inc also filed a lawsuit in the same court claiming the law will put the New York-based company out of business unless it raises the fees it charges to restaurants. The law will require that drivers be paid $17.96 an hour, which will rise to nearly $20 in April 2025. Reporting by Daniel Wiessner in Albany, New York; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel Wiessner, Josie Kao Organizations: Technologies, DoorDash Inc, Grubhub Inc, DoorDash, Companies, Thomson Locations: New York, York, Albany , New York

☆ Maison Sara Chraibi shows geometric patterns in haute couture lineup in Paris
▼ + stars: | 2023-07-06 | by ( Mimosa Spencer | ) www.reuters.com time to read: +1 min

[1/5] A model presents a creation by designer Sara Chraibi as part of her Haute Couture Fall/Winter 2023-2024 collection show for fashion house Maison Sara Chraibi in Paris, France, July 6, 2023. REUTERS/Sarah MeyssonnierPARIS, July 6 (Reuters) - Maison Sara Chraibi presented a sculptural lineup of garments with elaborate, geometric patterns on Thursday, the final day of Paris haute couture week. "It's like a building where you look at it from all sides," said Chraibi, after the show. It was her second outing as a guest on the Paris haute couture calendar, which includes leading luxury houses like Chanel, Dior and Giorgio Armani Prive. Other guest presenters this season were Juana Martin from Spain and Imane Ayissi, who was born in Cameroon.

Persons: Sara Chraibi, Maison Sara Chraibi, Sarah Meyssonnier PARIS, Dior, Giorgio Armani Prive, Juana Martin, Imane Ayissi, Mimosa Spencer, Josie Kao Organizations: Couture, REUTERS, Paris haute, Left Bank, Thomson Locations: Paris, France, Rabat, Spain, Cameroon

July 7 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Friday's non-farm payrolls report for June could cement the hawkish outlook for U.S. rates and yields. The MSCI World share index on Thursday posted its biggest decline since April, while the MSCI Asia ex-Japan index had its biggest fall since February and second biggest this year. The Hang Seng Mainland Banks Index (.HSMBI) tumbled 6.4% on Thursday to a new low for the year, its biggest one-day fall since February 2018. It is down almost 10% this week, also on course for its biggest weekly fall in more than five years.

Persons: Jamie McGeever, Janet Yellen, Yellen, Goldman Sachs, Goldman, Josie Kao Organizations: Treasury, Investors, Mainland Banks Index, . Treasury, Thomson, Reuters Locations: Asia, Japan, Korean, China . U.S, Beijing, China, Hong Kong, Mainland, South Korea

Shares of K-pop agencies dipped briefly on Wednesday after a reported investigation by South Korea's antitrust watchdog. The report said government agencies sent "examiners" to the offices of Hybe, SM Entertainment, YG Entertainment, according to a CNBC translation of the article. Hybe, the agency behind BTS, saw its shares fall as much as 3%, while SM Entertainment fell as low as 2.19%. When contacted by CNBC, South Korea's FTC said they could not confirm or deny the Yonhap report. Hybe said that it has no comments, while YG Entertainment and SM Entertainment did not respond to requests seeking comments to the Yonhap report.

Persons: Lisa, Jennie, Yonhap, Hybe, — CNBC's Kimberly Kao Organizations: Coachella, Valley Music, Arts Festival, Korea's Fair Trade Commission, Yonhap, SM Entertainment, YG Entertainment, CNBC, South, FTC Locations: INDIO , CALIFORNIA, Indio , California, South Korean, Hybe

☆ EV batteries remain major challenge for insurers - UK's Thatcham
▼ + stars: | 2023-07-04 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

LONDON, July 5 (Reuters) - A lack of data on electric vehicle (EV) batteries continues to challenge insurers who are forced to scrap EVs after mild accidents, potentially undermining EV adoption, Thatcham Research said on Wednesday. Adrian Watson, Thatcham's head of engineering research, said in an ideal world insurers could make informed decisions about whether to repair EVs or write it off based on access to data on its state of health after an accident. "The diagnostics we have do not enable you to really know what the status of the battery is." Due to their potential fire risk, damaged EVs awaiting repair must be stored outside at least 15 metres (49 ft) from other objects. An outside facility for 100 fossil-fuel cars today would have space to safely quarantine just two EVs, Thatcham said.

Persons: BEV, Thatcham, Adrian Watson, Thatcham's, Nick Carey, Josie Kao Organizations: Reuters, Thomson

☆ Bank of England considers clampdown on foreign bank branches- FT
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

July 4 (Reuters) - The Bank of England is looking at plans to force more international banks to set up subsidiaries in the UK, The Financial Times reported on Tuesday. The BOE is considering the plan as a part of a review of the collapse earlier this year of U.S. bank Silicon Valley Bank, the newspaper reported, citing people familiar. The move could reduce the thresholds requiring foreign banks with corporate business in the country to set up subsidiaries, the paper said. Nathanael Benjamin, the BOE's executive director for authorizations and international banks on Monday said the central bank will reflect on the threshold for a foreign bank branch to become a subsidiary. Following the collapse of its parent company in the United States, Silicon Valley Bank's UK arm was sold to HSBC (HSBA.L) in March to avoid disrupting its customers in Britain.

Persons: BOE, SVB, Nathanael Benjamin, Chandni Shah, Josie Kao, Andrea Ricci Organizations: Bank of England, The Financial Times, Valley Bank, HSBC, The Bank of England, Thomson Locations: U.S, London, United States, Silicon Valley, Britain, Bengaluru

☆ Canadian dollar edges higher as oil prices climb
▼ + stars: | 2023-07-04 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

Summary Canadian dollar strengthens 0.2% against the greenbackPrice of U.S. oil increases 2%Canada manufacturing PMI dips to 48.8 in JuneCanadian bond yields rise across the curveTORONTO, July 4 (Reuters) - The Canadian dollar strengthened against its U.S. counterpart on Tuesday as oil prices rose and despite domestic data that showed factory activity slowing further in June. Speculators have slashed their bearish bets on the Canadian dollar, data from the U.S. Commodity Futures Trading Commission showed on Friday. The price of oil , one of Canada's major exports, climbed 2% to $71.16 a barrel as markets weighed August supply cuts by top exporters Saudi Arabia and Russia against a weak global economic outlook. Contraction in Canada's manufacturing sector deepened slightly in June as an uncertain economic outlook weighed on both domestic and foreign demand. Canadian government bond yields were higher across the curve, with the 10-year up 6.4 basis points at 3.335%.

Persons: greenback Price, Fergal Smith, Josie Kao Organizations: greenback, Canadian, U.S, U.S . Commodity Futures Trading, P Global Canada Manufacturing, Bank of Canada, BoC, Thomson Locations: Canada, TORONTO, Saudi Arabia, Russia

WASHINGTON, July 4 (Reuters) - Suspended Texas Attorney General Ken Paxton will not testify in his upcoming impeachment trial in the state Senate, his lawyer said late on Monday, indicating Paxton would fight efforts that may aim to compel a testimony from him. State legislators impeached Paxton on May 27 on charges including bribery and temporarily suspended him from office pending his trial in the Texas Senate. The Texas Senate will try Paxton on 20 articles of impeachment lodged against him. Paxton's impeachment trial will begin on Sept. 5, according to CBS Texas. "We will not bow to their evil, illegal, and unprecedented weaponization of state power in the Senate chamber," the attorney added.

Persons: Ken Paxton, Paxton, Donald Trump, Tony Buzbee, Kanishka Singh, Josie Kao Organizations: Texas, Supreme, The, The Texas Senate, CBS, Justice Department, Thomson Locations: Texas, The Texas, CBS Texas, Washington

☆ Putin's comment on funding Wagner shows link to Ukraine -prosecutor
▼ + stars: | 2023-07-03 | by ( Anthony Deutsch | ) www.reuters.com time to read: +2 min

Putin said last week that Wagner and its founder, Yevgeny Prigozhin, had received almost $2 billion from Russia in the past year. Among more than 93,000 incidents of potential war crimes Kostin's office was investigating were many atrocities Wagner forces committed, Kostin said. They are "among the most severe crimes against our civilians and our prisoners of war," Kostin said. Kostin appealed to allies, including the U.S. and Britain, to classify Wagner as a terrorist organisation so it can be prosecuted and its assets frozen. "Prigozhin is already a suspect in criminal proceedings in Ukraine, but the main thing is to stop the activity of such groups," he said.

Persons: Vladimir Putin's, Wagner, Putin, Yevgeny Prigozhin, Andriy Kostin, Kostin, Putin's, Anthony Deutsch, Josie Kao Organizations: HAGUE, International Centre, U.S, Thomson Locations: Russia, The Hague, Geneva, Ukraine, Latin America, Africa, Britain

☆ US warns interference could undermine Guatemala election
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

July 2 (Reuters) - The U.S. is deeply concerned about efforts to interfere with Guatemala's first-round presidential election result, U.S. Secretary of State Antony Blinken said on Sunday, a day after Guatemala's top court ordered ballots be reviewed. Sandra Torres, a former first lady who won the first round, has alleged votes were manipulated. Bernardo Arevalo, who bucked forecasts to become a close runner-up to Torres, described Torres' vote review request as lacking legal merit and endangering the electoral process. Guatemala's Supreme Electoral Tribunal on Sunday said it would abide by the court decision and instruct its local branches to review the ballots within five days. Reporting by Daina Beth Solomon in Mexico City and Sofia Menchu in Guatemala City; Editing by Muralikumar Anantharaman and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Guatemala's, Antony Blinken, Blinken, Sandra Torres, Bernardo Arevalo, Torres, Daina Beth Solomon, Sofia Menchu, Muralikumar Anantharaman, Josie Kao Organizations: Organization of American, Foreign, European Union, Electoral, Sofia, Thomson Locations: U.S, Guatemala's, Mexico City, Guatemala City

LOS ANGELES, July 2 (Reuters) - Thousands of Los Angeles-area hotel workers went on strike on Sunday demanding pay hikes and improved benefits in a region where high housing costs make it difficult for low-wage earners to live close to where they hold jobs, union officials said. Unite Here Local 11, which represents 15,000 workers at more than 60 major hotels in Los Angeles and Orange counties, declared the strike a day after the workers' contract expired. [1/4]People protest in front of Hotel Indigo as unionized hotel workers in Los Angeles and Orange County go on strike, in Los Angeles, California, U.S. July 2, 2023. Los Angeles has been a flashpoint for labor strife on several fronts this year, including the protracted writers strike and a three-day walkout in March by education support staff for the Los Angeles Unified School District. Reporting by Steve Gorman in Los Angeles and Gabriella Borter in New York; Editing by Mary Milliken and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Kurt Petersen, Maria Hernandez, David Swanson, Hernandez, Steve Gorman, Gabriella Borter, Mary Milliken, Josie Kao Organizations: Southern, Hollywood, InterContinental, Hotel, Millennium Biltmore, JW Marriott, Fairmont, Sheraton Universal, Universal, REUTERS, Westin Bonaventure Hotel, Coordinated, Westin Bonaventure, Los Angeles City News Service, Los Angeles Unified School District, Thomson Locations: ANGELES, Los Angeles, Orange, Fairmont Miramar, Santa Monica, Universal City, Laguna Cliffs, Dana Point, Indigo, Orange County, Los Angeles , California, U.S, L.A, Beverly Hills, Long Beach, West, New York

July 3 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Purchasing managers index (PMI) reports on Monday from across the Asia-Pacific region, including China, India, South Korea and Australia, will give the first glimpse into private sector services and factory activity in June. Monday's Asian economic calendar is dominated by a raft of manufacturing PMIs including China's, Indonesian inflation, Japan's 'tankan' business sentiment survey for the second quarter, and Australian housing. China's Caixin manufacturing PMI is expected to fall to 50.2 from 50.9, signaling a slowdown in factory sector growth almost the point of stagnation. The official PMI, expected to show a third month of contraction, will be released on Friday.

Persons: Jamie McGeever, Josie Kao Organizations: Japan's Nikkei, U.S, PMI, Equity, Indonesia CPI, Thomson, Reuters Locations: Asia, Japan, Pacific, China, India, South Korea, Australia, Indonesia, Thailand, Philippines, Taiwan, Malaysia

☆ Los Angeles hotel workers strike over wages, housing
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: +2 min

LOS ANGELES, July 2 (Reuters) - Thousands of hotel workers in Los Angeles, California, went on strike on Sunday morning as they pushed for better wages and benefits, kicking off what was expected to be one of the largest U.S. hotel strikes in recent history. [1/4]People protest in front of Hotel Indigo as unionized hotel workers in Los Angeles and Orange County go on strike, in Los Angeles, California, U.S. July 2, 2023. REUTERS/David SwansonContracts expired June 30 at 62 Southern California hotels, according to the Los Angeles Times. The Westin Bonaventure, the biggest hotel in Los Angeles, came to an agreement with its workers just a day before the expiration, the union said. The Los Angeles area has been the scene of other strikes or walkout threats in recent months.

Persons: David Swanson, Gabriella Borter, Mary Milliken, Josie Kao Organizations: Orange Counties, InterContinental, Hotel Indigo, Resorts, Hotel, REUTERS, Los Angeles Times, Westin Bonaventure, SAG, Thomson Locations: ANGELES, Los Angeles , California, U.S, Los Angeles, Orange, Indigo, Orange County, California, Hollywood

☆ A self-made millionaire in China who never went to college just took the country's grueling college entrance exams for the 27th time — and failed again
▼ + stars: | 2023-06-26 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Liang Shi, 56, has failed China's intense college entry exam for the 27th time, per AFP. The self-made millionaire who started taking the test in 1983 harbors dreams of going to university. After all, the former factory worker has his own construction materials business and is a millionaire, per AFP. "It's an uncomfortable thought that I didn't manage to get a college education," Liang told AFP earlier this month. "It's hard to say whether I will keep on preparing for the next year," he told AFP.

Persons: Liang Shi, He's, —, It's, Liang, gao kao, Matthew Loh, Liang's, he'll Organizations: AFP, Service, ACT, AP Locations: China, AFP, Sichuan

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