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☆ China's big 'Golden Week' is here. Three hot destinations for spending — and a stock with 95% upside
▼ + stars: | 2023-10-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Whether it's by train or by car, hundreds of millions of people are traveling around mainland China for a holiday called Golden Week. From the Mid-Autumn Festival on Friday, Sept. 29, to the following Friday, the break runs for an entire week to celebrate China's National Day. Morgan Stanley analysts like Hong Kong-listed CTG Duty Free , China's state-owned duty-free retail giant. Within China, domestic hotel room rates are still above 2019 levels, Morgan Stanley analysts said. On the macro front, if tourism pans out as expected this Golden Week, it will give a much-needed lift to China's the economy overall.

Persons: Morgan Stanley, They're, Oliver Wyman, Oliver Wyman's, BlackPink, Atour, — CNBC's Michael Bloom Organizations: Bank of America, Hong, Golden, MGM China, Wynn Macau Locations: China, Hong Kong, Hainan, Macau, U.S

☆ How to cope with a loved one’s suicide
▼ + stars: | 2023-09-30 | by ( Kristen Rogers | ) edition.cnn.com time to read: +11 min

Alexandra felt safe talking to him about anything, she said, and he made their son laugh so hard by singing and dancing. Alexandra knew Shawn had once contemplated suicide earlier in life, but he said he’d never do it. Letting go of self-blameAnother critical lesson was that Shawn’s suicide was about him, not her, Alexandra said — that what happened was not her fault or something she alone could have prevented. Journaling helped her recognize thinking patterns and emotional barriers, while support groups with others who lost a loved one to suicide gave her community. Alexandra WymanNow Alexandra has more good days than bad ones, and that masseuse she saw has said her light has started to return.

Persons: Alexandra, Shawn Wyman, “, ”, ” Shawn, Alexandra Wyman, Shawn, ” Alexandra, Alexandra Wyman Shawn, ‘, ’, Michael Roeske, “ It’s, he’d, can’t, Justin Baker, Alexandra couldn’t, wouldn’t, isn’t, It’s, Shawn didn’t, Baker, she’d, life’s, —, Journaling, I’ve, they’re, ” Baker, “ I’m, Shawn’s, ‘ You’re, I’m Organizations: Lifeline, CNN, US Navy, Sunday, Newport Healthcare Center for Research & Innovation, Initiative, Veterans, Ohio State, Wexner Medical Locations: Colorado, Newport, shouldn’t

☆ 3 smart strategies a small-business owner uses to manage 20 employees in 7 time zones
▼ + stars: | 2023-09-21 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +6 min

Today, Aimtal has 20 employees across seven time zones. To make it work, Mesh said the company set clear expectations and had established processes for communication and collaboration. Insider spoke with a small-business owner and a remote-work expert about how small businesses could manage teams across multiple zones. Aimtal requires its employees to be available from 11 a.m. to noon and 3 p.m. to 4 p.m. Watson said small-business leaders should build connections and immerse employees in the company's culture to keep them happy and productive.

Persons: Slack, Aimtal, Janet Mesh, Cynthia Watson, you've, Watson, Jessie Wyman Organizations: Service Locations: Wall, Silicon, Boston, Virtira

☆ More than a third of Gen Z is working both a full-time job and a side hustle — and many still don't feel financially secure
▼ + stars: | 2023-09-20 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +3 min

Nearly four in 10 Gen Zers are working side hustles on top of another job, per new EY research. Gen Zers are also overwhelmingly mistrustful of large businesses and the government. Gen Z workers are particularly mistrustful of large businesses — just 34% trust that large businesses do what's right. And given a majority of Gen Z believes most people can't be trusted, the adoption of AI in the workforce could push Gen Z further away from certain companies. Additionally, even though Gen Z has been savvy with side gigs and freelance opportunities, less than half say they can live comfortably by 30.

Persons: Zers, It's, EY, Gen Zers, Gen Z, Gen, Z, Oliver Wyman Organizations: Service, US Bank, Gen Locations: Wall, Silicon

☆ China's AI applications are coming — where it matters for monetization
▼ + stars: | 2023-09-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Around the same time, Tencent announced it is integrating its AI model into advertising content creation, and its own Zoom-like video conferencing app. It's also not clear how powerful China's AI applications currently are, beyond demos and select business partnerships. "Overall we see generally Chinese language model[s] still lag behind the most advanced ChatGPT version 4," CLSA's Tony Zhang said in a phone interview in the last week. Now with Beijing's green light, public-facing AI applications such as Baidu's Ernie bot can be widely used in China. Generative AI and large language model-related revenue contributed to 20% of SenseTime' s revenue in the first half of 2023, Nomura analysts said, citing company management.

Persons: Nomura, Tencent, Coffee, Luckin, Joey Wat, It's, Tony Zhang, –, Ernie, Oliver Wyman's David Xie Organizations: Baidu, KFC Locations: Beijing, China, Taobao, TikTok

It forecasts that Britain, with a 2030 fossil-fuel car sale ban, could be short 25,000 EV technicians by 2032. And Australia could be 9,000 EV technicians short by 2030, the Victorian Automotive Chamber of Commerce predicts. CEO Lawrence Whittaker said Warrantywise must use expensive franchise dealers to fix EVs because they more often have qualified technicians than independent shops. Customers lacking EV repair options already come from far afield. The IMI estimates 20% of UK automotive technicians have received some EV training, but only 1% are qualified to do more than routine maintenance.

Persons: Rex Nielsen, Mark Syvret, Renault Zoe, Nick Carey, Roberto Petrilli, Lawrence Whittaker, Warrantywise, Mark Darvill, Darvill, Hillclimb's, Addison Lee, Andrew Wescott, Tesla, Daniel Brown, Germany's Lucas, David Etzwiler, Etzwiler, Collin Jennings, Jennings, Steve Nash, Nicholas Wyman, you'll, Aurora Ellis Organizations: Renault, REUTERS, EV, Motor Industry, of Labor Statistics, Victorian Automotive Chamber, Commerce, Auto, Reuters, UK, Tesla, IMI, Siemens Foundation, Traders ' Association of New, MTA NSW, U.S . Institute, Workplace, Thomson Locations: Ash Vale, Britain, DETROIT, MILAN, England, Milan, Melbourne, Malibu, Italy, Hertford, China, India, Europe, United States, Australia, High Wycombe, London, Traders ' Association of New South Wales, NSW

A Renault wallbox charging station is used by a Renault Captur hybrid car at a dealership in Les Sorinieres, near Nantes, France, October 23, 2020. Chinese EV makers, including BYD (002594.SZ), Nio (9866.HK) and Xpeng (9868.HK) are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales. The arrival of Chinese EV makers in Europe has raised concerns they will undercut local carmakers and dominate EV sales. Mercedes-Benz (MBGn.DE) will present its CLA compact class and BMW (BMWG.DE) its Neue Klasse, both of which target higher range and efficiency, while halving production costs. Volkswagen (VOWG_p.DE) CEO Oliver Blume told reporters that through its partnerships in China, the carmaker aims to cut battery cell costs by 50%.

Persons: Stephane Mahe, Luca de Meo, De Meo, Fabian Brandt, Oliver Wyman, Gilles Le Borgne, Oliver Blume, " Blume, Nick Carey, Victoria Waldersee, Gilles Gillaume, Christina Amann, Friederike Heine, Clarence Fernandez, Sharon Singleton Organizations: Renault, REUTERS, China EV, Reuters, HK, Europe's EV, EV, Jato Dynamics, Benz, BMW, Klasse, Volkswagen, Greenpeace, Protesters, Thomson Locations: Les Sorinieres, Nantes, France, China, MUNICH, BYD, Europe, Munich, Asia

☆ Munich car show shines spotlight on China competition in EV race
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +2 min

A Renault wallbox charging station is used by a Renault Captur hybrid car at a dealership in Les Sorinieres, near Nantes, France, October 23, 2020. About 41% of exhibitors at this year's event are headquartered in Asia, with the number of Chinese companies having more than doubled, including players across batteries and EV production such as BYD, CATL and XPeng. "Europe needs to stop being naive from a macroeconomic point of view in the face of China," Gilles Le Borgne, Renault's (RENA.PA) engineering head, told journalists on Sunday, pointing to the country's control of the full battery supply chain. Chinese and German players, including top German carmakers and suppliers and China's LeapMotors and Horizon Robotics, will also speak at a Chinese EV conference set for Wednesday and Thursday for the first time outside China as part of the IAA. ($1=0.9273 euros)Reporting by Victoria Waldersee, Gilles Gillaume and Christina Amann; Editing by Friederike Heine and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephane Mahe, Gilles Le Borgne, Fabian Brandt, Oliver Wyman, Victoria Waldersee, Gilles Gillaume, Christina Amann, Friederike Heine, Clarence Fernandez Organizations: Renault, REUTERS, Rights, Horizon Robotics, EV, IAA, Mercedes, Benz, BMW, Klasse, Volkswagen, Thomson Locations: Les Sorinieres, Nantes, France, Asia, Europe, China

This, regulators say, makes it harder for banks to cut costs and absorb losses in a downturn. But many bankers are expected to resist swapping guaranteed pay for potentially higher bonuses, which can swing wildly across economic cycles. UK Finance, the industry body for banks in Britain, did not respond to the public consultation, leaving individual members to comment if they wanted to. Others warned against overplaying the significance of bonuses in Britain's battle to grow its financial sector, still reeling from the loss of big-ticket listings, such as Arm Holdings. "Compensation is a small point in the grand scheme of things of a vibrant financial sector.

Persons: Toby Melville, Luke Hildyard, there'll, Suzanne Horne, Paul Hastings, Horne, Simon Patterson, Edelmann, Oliver Wyman, Sinead Cruise, Huw Jones, Tomasz Janowski Organizations: City of, Regulators, European Union, Bank of England, Financial, Bankers, Reuters, European Banking Authority, International Employment, Britain, EU, Finance, Arm Holdings, Thomson Locations: City, City of London, Britain, Banks, European, New York, Singapore, EU, Paris, Frankfurt, United States, Japan, Switzerland, London, Europe

Work on an insurance mechanism follows Russia’s withdrawal from the Black Sea Grain Initiative last month, which threatens the safe passage of ships carrying grain to and from Ukrainian ports. To keep grain shipments moving, Ukraine’s government will share potential losses with insurers, which should make cover for travel through risky Ukrainian waters more affordable for commercial shipping companies. Russia’s withdrawal from the grain deal has had a chilling effect on merchant shipping around Ukraine’s three Black Sea ports as the Kremlin warned that ships leaving these ports might come under attack. And earlier this month a Russian warship fired warning shots and boarded a cargo ship in the Black Sea it claims was headed to Ukraine. Last week, the Hong Kong-flagged Joseph Schulte container ship became the first vessel to depart from any of Ukraine’s Black Sea ports since the grain deal broke down on July 17.

Persons: —, ” Oleksandr Hryban, Marsh McLennan, Marsh, Oliver Wyman —, Hryban, Marcus Baker, ” Baker, Crispin Ellison, Oliver Wyman, ” Marsh McLennan, Joseph Schulte, Volodymyr Zelensky, ” Organizations: Kyiv CNN —, United Nations, “, CNN, Initiative, Kremlin, ” Locations: Kyiv, Kyiv CNN — Ukraine, Ukrainian, Turkey, London, Marsh, Russia, Ukraine, Russian, Hong Kong, Odesa, ” Ukraine

☆ United said it needs to hire 7,000 aircraft mechanics as a looming shortage threatens to disrupt the industry
▼ + stars: | 2023-06-27 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

United Airlines is hiring over 7,000 aircraft maintenance technicians amid a looming mechanic shortage. Aviation analyst Jonas Murby told Insider companies could address the issue with pay raises and automation. United Airlines is taking a proactive approach to the looming aircraft mechanic shortage. The lack of mechanics is expected to have effects similar to the pilot shortage, which has caused thousands of flight cancelations and forced airlines like American and United to ground regional aircraft. "I recently spoke with aircraft maintenance company Gameco in Guangzhou and they said they automated the entire paint stripping line just because of the mechanic shortage," he told Insider.

Persons: Oliver Wyman, Jonas Murby, Kate Gebo, Gebo, Murby Organizations: Aviation, United Airlines, United, Boeing's, Baby Boomers Locations: Guangzhou

A net 1,400 lots of short positions were covered by the time the market was suspended at 08:15. Xiang Guangda, the charismatic head of China's Tsingshan Holding Group, has attracted much media attention for being the big nickel short. The existence of at least once big nickel short wasn't exactly a secret in the market. LME nickel crisis had turned into potential LME clearing house crisis with Chamberlain having to juggle both parts of the meltdown while also being a nickel market specialist. The handful that remained, as one participant later recalled, knew nothing whatsoever about what was going on in the nickel market so decided to call everyone else back into the room.

Persons: Elliott, Street, Matthew Chamberlain, Chamberlain, Jane Street, Oliver Wyman's, Xiang Guangda, wasn't, Oliver Wyman, John Maynard Keynes, Xiang, doesn't, David Evans Organizations: London, Royal, of Justice, Hong Kong Exchanges, HK, Elliott Associates, Jane, Global, Tsingshan Holding, SEE, Bloomberg, Thomson, Reuters Locations: U.S, Ukraine

☆ What one key business indicator is saying about China's consumer recovery
▼ + stars: | 2023-06-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

"For 618, generally of course brands will be trying, but compared to before it's a bit more tired," said Ashley Dudarenok, founder of ChoZan, a China marketing consultancy. In the first quarter, the median disposable income of urban residents in China was officially 12,175 Chinese yuan ($1,739), up 3.9% from a year ago. A focus on affordabilitySluggish economic growth and uncertainty about future income have weighed on Chinese consumer spending since the Covid-19 pandemic. watch nowBrands are keen to spend more on ByteDance's Douyin, likely taking away from ad spending on Alibaba's Taobao and Tmall e-commerce platforms, Oliver Wyman's Xie said. And for brands spending on Douyin, he said the return on investment per ad dollar was getting lower.

Persons: Jade Gao, Ashley Dudarenok, Dudarenok, let's, Microsoft's Bing, Dave Xie, Oliver Wyman, Douyin, Oliver Wyman's Xie, ByteDance isn't, doesn't, Pinduoduo, Sun Hao, Sun, didn't, Trip.com, Kelly Shi Organizations: Afp, Getty, Baidu, Retail, Brands, Growth, Nestle, Netflix Locations: Beijing, BEIJING, China

But with flights remaining limited after China's border reopening in January, European luxury stores will need to wait longer for the return of masses of tourists they once depended on for growth. The average transaction value by Chinese travellers in Europe in March was 28% above 2019 levels, UBS said, citing data from VAT refund provider Planet. Cartier-owner Richemont (CFR.S), Hermes (HRMS.PA) and LVMH were best placed to benefit from wealthy Chinese shoppers, UBS added. As wealthy Chinese return to Europe and other foreign destinations, the appeal of China's Hainan Island, a duty free shopping hotspot, appears to be waning among top luxury spenders. China's "higher income, top luxury spenders (are) already travelling abroad again," she said, leading to an observable lower per-capita spend in Hainan.

☆ Airlines are combating the pilot shortage by paying pilots more, making it easier to become one, and hiring from Australia
▼ + stars: | 2023-04-24 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

An ongoing pilot shortage has plagued US airlines since travel came roaring back post-pandemic. While some organizations — like the Regional Airline Association advocacy group — have praised the legalization, the Air Line Pilots Association has opposed it, Reuters reported. Increasing pilot payRegional flying has been particularly impacted by the pilot shortage, forcing airlines to slash dozens of flights to small markets and even ground regional jets. Other regional carriers like Mesa Airlines, Republic Airways, and Delta's wholly-owned airline Endeavor Air have also gotten pay increases. Lowering training requirementsRegional carrier Republic recently asked the FAA to reduce the flight hour requirement for pilots graduating from its LIFT pilot training academy.

The Dallas-based carrier has blamed the hour-long outage on a vendor-supplied network firewall failure, causing a temporary loss of connection to key systems. Southwest told Reuters on Wednesday it opted to halt flights out of caution, adding there were no indications of a cyber attack. It declined to identify the vendor and did not address why this failure was not part of the company's planning. While the exact cause is not clear, some industry experts questioned why Southwest systems did not include more redundancy. Southwest was able to manually launch flights while SWIFT was down but decided to suspend departures at 8:27 a.m. CST.

☆ Old planes get stripped for parts while airlines wait on new jets
▼ + stars: | 2023-04-13 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

COOLIDGE, Arizona – From engines to landing gear, the hunt is on for aircraft parts as airlines prepare their jets for swarms of summer travelers, with new planes from Boeing and Airbus still in short supply. The search for parts leads some aircraft owners here, where older, retired planes are stripped for parts that will be prepared to fly on other planes or repurposed altogether. The current demand for aircraft parts is the result of the industry's deep demand swings resulting from the Covid pandemic. With deliveries of new jets behind schedule, airlines are holding onto planes longer, repairing or overhauling them, adding to demand for parts and labor. Airbus A320 landing gear in a repair shop in Marana, Arizona.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy airplanes are still worth millions after they stop flyingWhen airplanes are retired, many of them end up stripped for parts that are worth millions of dollars. Those parts are in high demand — Boeing and Airbus are behind on deliveries of new aircraft and sold out of planes through the latter part of the decade. The used-aircraft parts trade is a small but important part of global spending on airplane maintenance, repair and overhaul, which Oliver Wyman expects to reach $94 billion this year.

☆ Gen Z wants to run your company. 'Shadow boards' give them a say without handing them the keys.
▼ + stars: | 2023-03-31 | by ( Juliana Kaplan | Rebecca Knight | ) www.businessinsider.com time to read: +8 min

Oliver Wyman says its shadow board helped contribute to a 30% reduction in attrition in 2022. Andrew Pérez started at the management-consulting company Oliver Wyman three years ago. Oliver Wyman started its shadow board in 2021. Oliver Wyman's executive team tends to be older, while the shadow board skews younger and more diverse. She was eager to join the shadow board last year.

☆ China will remain the world's largest manufacturer, consulting firm says
▼ + stars: | 2023-03-30 | 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 EmailChina will remain the world's largest manufacturer, consulting firm saysBen Simpfendorfer of Oliver Wyman says there's nevertheless a redistribution of production across the world, particularly into Southeast Asia.

☆ Southwest to upgrade crew-scheduling software, hire more staff during winter
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

March 14 (Reuters) - Southwest Airlines Co (LUV.N) said on Tuesday it would upgrade its crew scheduling software and hire more staff in the winter, as the airline attempts to address problems that had led to large-scale cancellations during the holiday season. The Dallas-based carrier has come under fire ever since bad weather during the Christmas holidays left staff stranded across the country, which overwhelmed its crew scheduling software, disrupting travel plans for two million customers. The three-part plan was developed by the airline with inputs from aviation consultancy Oliver Wyman, which was hired to investigate the disruption. The plan looks at bolstering operations during the winter season, when chances of weather-related disruptions to travel-related services are high. "Work is well underway in implementing action items to prepare for next winter - with some items already completed," Jordan said.

The world's largest and oldest metals market annulled all nickel trades in March last year after chaotic price action and suspended trading for the first time since 1988. "That the FCA has decided to investigate means it considers there are circumstances suggesting that LME may have committed serious misconduct. ACTIVE STEPSThe 146-year-old LME said it had taken active steps to enhance nickel market liquidity and transparency, including 15% daily price limits and over the counter (OTC) position reporting for all physically delivered metals. The FCA and Bank of England began a review last April into the trading halt by the LME, owned by Hong Kong Exchanges and Clearing (0388.HK). In January management consultants Oliver Wyman released an independent review of the nickel trading debacle and the exchange said it would set out an implementation plan for the report's recommendations by the end of March.

☆ The oldest members of Gen Z are only 26 years old, but the generation is already changing what it means to shop, live, and work in America in 6 key ways
▼ + stars: | 2023-02-28 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: 1 min

Gen Z is already changing what it means to live, work, and shop in America in six key ways. We Are / Getty ImagesGeneration Z is the most diverse generation in US history in terms of race, ethnicity, and sexual orientation. They are vocal about their likes, dislikes, dreams, feelings, and ideals. All of which is to say: They may be young, but they have clout. Keep reading for a look at six ways in which this generation is changing life in the US.

☆ Continuing Sanctions Against Russia Mark ‘Tectonic’ Shift
▼ + stars: | 2023-02-24 | by ( Richard Vanderford | ) www.wsj.com time to read: +7 min

Hundreds of companies, though, decamped, calculating that the looming threat of sanctions ratcheting up and reputational risk warranted an exit. Prof. Sonnenfeld and Mr. Tannebaum both have been personally sanctioned by Russia, which has accused critics of engaging in a “Russophobic” campaign. “Countries continue to rely on those tools for foreign policy. The Russia sanctions have functioned as a “wake-up call” to the C-suite, Mr. Smith said. The use of coordinated sanctions, both in Russia and as a broader foreign policy tool, doesn’t seem to be going away, experts agreed.

☆ A Year After Russia’s Invasion of Ukraine, Tough Sanctions Linger
▼ + stars: | 2023-02-24 | by ( Richard Vanderford | ) www.wsj.com time to read: +7 min

Russia’s invasion of Ukraine a year ago prompted a volley of tough sanctions from the U.S. and its allies, a historic use of economic measures that will likely have lasting implications for businesses. Hundreds of companies, though, decamped, calculating that the looming threat of sanctions ratcheting up and reputational risk warranted an exit. “Countries continue to rely on those tools for foreign policy. The Russia sanctions have functioned as a “wake-up call” to the C-suite, Mr. Smith said. The use of coordinated sanctions, both in Russia and as a broader foreign policy tool, doesn’t seem to be going away, experts agreed.

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