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SINGAPORE, Sept 14 (Reuters) - DBS Group (DBSM.SI) Chief Executive Piyush Gupta said current widespread pessimism about China's economy was not "overdone" but he was upbeat about India, where the bank plans to triple its business in the next five years. "There's some real headwinds in China in the short-term", he told a Reuters Newsmaker event in Singapore, noting the crisis in its debt-ridden property sector. DBS, Southeast Asia's largest bank by assets, aims to triple its business in India in the next five years, Gupta also said. The bank has been in India for nearly 30 years and operates about 530 branches in 19 Indian states, according to its website. Singapore has seen strong inflows from wealthy customers amid global uncertainty, including U.S.-China geopolitical tensions, due to the city-state's status as a financial safe-haven.

Persons: Piyush Gupta, Gupta, Yantoultra Ngui, Fanny Potkin, Scott Murdoch, Edwina Gibbs Organizations: DBS, Reuters, Shenzhen Rural Commercial Bank, UBS Group's, Credit Suisse, Thomson Locations: SINGAPORE, India, China, Singapore, Shenzhen, Asia's, Asia, East, U.S

☆ Mercedes-Benz's $100,000 electric SUV is an awesome Tesla rival — but its blob-like looks aren't for everyone
▼ + stars: | 2023-09-13 | by ( Tim Levin | ) www.businessinsider.com time to read: +6 min

I drove Mercedes-Benz's new electric SUV: the EQE SUV. The 2023 Mercedes-Benz EQE 500 4MATIC SUV. The 2023 Mercedes-Benz EQE 500 4MATIC SUV. The 2023 Mercedes-Benz EQE 500 4MATIC SUV. AdvertisementAdvertisementThe 2023 Mercedes-Benz EQE 500 4MATIC SUV.

Persons: Mercedes, Tim Levin, I'm, anyone's, Elon Musk's, Tesla, iX, fanny, that's Organizations: Mercedes, Service, Benz, Subaru, BMW, Tesla's, EV Locations: Wall, Silicon, Stuttgart, Elon

☆ GlobalFoundries opens $4 billion Singapore fabrication plant
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

A screen displays the company logo for semiconductor and chipmaker GlobalFoundries Inc. during the company's IPO at the Nasdaq MarketSite in Times Square in New York City, U.S., October 28, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSINGAPORE Sept 12 (Reuters) - GlobalFoundries (GFS.O), one of the world's top five largest contract chipmakers, launched a $4 billion fabrication plant in Singapore on Tuesday, as part of a major global manufacturing expansion. Its Singapore operations, which serve 200 clients worldwide, produce 300mm wafers and 200mm wafers, which are used in cars and 5G technology. Some of GlobalFoundries' biggest clients include Qualcomm , which said on Monday it had signed a deal with Apple to supply 5G chips until at least 2026. The city-state's overall semiconductor output, which makes up 11% of the global semiconductor market, is set to grow, as more chipmakers are set to either open or expand operations in the coming months.

Persons: Brendan McDermid, GlobalFoundries, Fanny Potkin, Richard Chang Organizations: Nasdaq, REUTERS, Qualcomm, Apple, Thomson Locations: New York City, U.S, Singapore

Taiwan Semiconductor Manufacturing Company's (TSMC) logo is seen while people attend the opening of the TSMC global R&D center in Hsinchu, Taiwan July 28, 2023. In the past five months the improvement has been tremendous," TSMC Chairman Mark Liu said of the Arizona project last week. The $40 billion investment in Arizona allows TSMC to add capacity outside Taiwan, where it faces constraints on land, power, water and labour. "A lot of machines cannot be shut down because it costs TSMC to recalibrate on rebooting," said a chip industry executive. While many equipment and materials makers already have global operations, to meet its exacting standards TSMC has also brought suppliers to Japan from Taiwan, the sources said.

Persons: Ann Wang, TSMC, Mark Liu, Lucy Chen, Brady Wang, Sam Nussey, Fanny Potkin, Sarah Wu, Miho Uranaka, Jamie Freed Organizations: Taiwan Semiconductor Manufacturing, REUTERS, TSMC, Reuters, Isaiah Research, Sony, Ministry, Economy, Trade, Industry, Thomson Locations: Hsinchu, Taiwan, Japan, TOKYO, SINGAPORE, TAIPEI, Arizona, Kyushu, U.S, Germany, TSMC

The second person familiar with the plans confirmed the presence of several large U.S. chips companies, including Amkor, their Vietnamese partners, such as tech company FPT (FPT.HM), and Vietnamese and U.S. top officials, including Secretary of State Antony Blinken. Chip designing firm Marvell has said it plans to build a "world-class" centre in Vietnam. Vingroup (VIC.HM), Vietnam's largest conglomerate and the parent of Nasdaq-listed electric car maker VinFast , has a unit focussed on AI. Boeing may announce a deal involving the sale of 50 of its 737 MAX jets, people familiar with the matter told Reuters. Reporting by Francesco Guarascio @fraguarascio; additional reporting by Fanny Potkin; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Leah Millis, Antony Blinken, Janet Yellen, Marvell, Francesco Guarascio @fraguarascio, Fanny Potkin, William Mallard Organizations: Warehouse Union, Pacific Maritime Association, White, REUTERS, Rights, Intel, Google, Marvell, Boeing, Reuters, Sunday, Samsung, Qualcomm, Nasdaq, Thomson Locations: Washington , U.S, Rights HANOI, U.S, Hanoi, Vietnam, China, Taiwan

☆ Cramer reviews Lululemon's Q2 earnings, says it's not too late to buy
▼ + stars: | 2023-09-07 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Thursday reviewed Lululemon 's Q2 earnings, and said he's pleased with the athletic apparel company's progress after seeing its stock plummet post-Covid. "I think it's not too late to get back into Lululemon if you bailed on it at some point over the past two years," Cramer said. Lululemon saw major success during the pandemic as many consumers purchased athleisure and loungewear while working from home. Inventory grew 14% in Q2, down from previous guidance of 20%, according to last week's conference call. "I bet Lulu has a terrific holiday season, especially now that their inventories are back at reasonable levels," Cramer said.

Persons: CNBC's Jim Cramer, he's, Cramer, Lululemon, fanny, Lulu Organizations: CNBC Locations: Lululemon, China

☆ Gary Wright, Who Had a ’70s Hit With ‘Dream Weaver,’ Dies at 80
▼ + stars: | 2023-09-06 | by ( Alex Williams | More About Alex Williams | ) www.nytimes.com time to read: +2 min

Gary Malcolm Wright was born on April 26, 1943, in Cresskill, in northeast New Jersey, the middle of three children of Lou Wright, a structural engineer, and Anne (Belvedere) Wright. His mother helped instill in him an interest in music and acting, driving him to piano lessons and eventually to auditions. “I originally came into the play as an understudy to the main role, and then I picked up the main child role,” Mr. Wright said in a 2014 interview with Smashing Interviews magazine. While attending Tenafly High School, he played in various rock groups, including a duo called Gary and Billy with his school friend Bill Markle. Their single “Working After School” was played on the TV show “American Bandstand.”After high school, Mr. Wright attended William & Mary in Virginia for a year before transferring to New York University, where he switched his focus to medicine.

Persons: Gary Malcolm Wright, Lou Wright, Wright, Fanny, ”, Florence Henderson, “, ” Mr, Gary, Billy, Bill Markle, William, William & Mary, Chris Blackwell, . Blackwell Organizations: Rangers, Little League baseball, Tenafly High School, William &, New York University, Island Records Locations: Cresskill, New Jersey, Anne, Belvedere, Virginia, Berlin, Europe, Oslo, England

☆ Polanski film 'The Palace' can't find distributors in US, Britain or France, producer says
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +2 min

[1/4] The 80th Venice Film Festival - Photocall for the film "The Palace" out of competition - Venice, Italy, September 2, 2023. REUTERS/Yara Nardi Acquire Licensing RightsVENICE, Sept 2 (Reuters) - The producer of Roman Polanski's latest movie, "The Palace", bemoaned the fact that no one wanted the distribution rights for the film in the United States, Britain and France, saying morality should not weigh on art. One of the most successful directors of his generation, Polanski fled the United States over a conviction for raping a 13-year-old girl in 1977, a crime he admitted. After the #MeToo movement gained global traction in 2017 following sexual abuse allegations against U.S. film producer Harvey Weinstein, a number of women alleged that Polanski had sexually assaulted them as teenagers as well. The producer Luca Barbareschi said he had sold distribution rights across continental Europe, but not in France, Britain or the United States, despite the fact well-known actors from all three countries appeared in the film.

Persons: Milan Peschel, Fortunato Cerlino, Fanny Ardant, Luca Barbareschi, Oliver Masucci, Joaquim de Almeida, Yara, Roman, Polanski, Harvey Weinstein, Mickey Rourke, John Cleese, Joaquim De Almeida, Barbareschi, Polanski's, Polanksi, Crispian Balmer, Ros Russell Organizations: REUTERS, U.S, Venice Film, Netflix, Golden, Thomson Locations: Venice, Italy, United States, Britain, France, Polish, Swiss, Europe, Australia, New Zealand

☆ Meta rejects recommendation to suspend former Cambodia PM from Facebook
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +3 min

Hun Sen speaks at a press conference at the National Assembly after a vote to confirm his son, Hun Manet, as Cambodia's prime minister in Phnom Penh, Cambodia, August 22, 2023. Meta, in a written statement, agreed to take down the video but said it would respond to the board's recommendation to suspend Hun Sen after a review. Cambodia barred the 22-member oversight board from the country, declaring the recommendation was "political" in nature. Hun Sen remains influential in Cambodia and after stepping aside vowed to stay in politics for at least another decade. Cambodia's Ministry of Post and Telecommunications on its Facebook page on Tuesday "congratulated" Facebook for its decision and reiterated that the Meta oversight board was still unwelcome.

Persons: Hun Sen, Hun Manet, Cindy Liu, Hun, Fanny Potkin, Martin Petty Organizations: National Assembly, REUTERS, Meta, Cambodian People's Party, Facebook, Cambodia's Ministry of Post, Telecommunications, Thomson Locations: Phnom Penh, Cambodia

China operates talent programs at various levels of government, targeting a mix of overseas Chinese and foreign experts. China has previously said its overseas recruitment through the TTP aimed to build an innovation-driven economy and promote talent mobility, while respecting intellectual property rights, according to the state-run Xinhua news agency. It said that anyone who recommends a candidate who is then selected for the talent programs would receive "diamonds, bags, cars, and houses". In some cases, these people said, those experts will be offered roles at Chinese chip companies' overseas operations. ($1 = 7.1475 Chinese yuan renminbi)Reporting by Julie Zhu, Fanny Potkin, Eduardo Baptista and Michael Martina; editing by David CrawshawOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Xi Jinping, Qiming, Dean Boyd, Nick Marro, Chen Biaohua, Chen, Ma Yuanxiao, Dawei Di, Di, Zhuji, Julie Zhu, Fanny Potkin, Eduardo Baptista, Michael Martina, David Crawshaw Organizations: REUTERS, Washington, Reuters, China, Ministry of Industry, Information Technology, U.S . Commerce Department, Xinhua, Ministry of Science, Technology, U.S, government's National Counterintelligence and Security Center, Economist Intelligence, China Center for Information Industry Development, China Semiconductor Industry Association, Qiming, Massachusetts Institute of Technology, Harvard, Stanford, HK, LinkedIn, Hangzhou Juqi Technology, Fortune, Beijing Institute of Technology, BIT's School of Integrated Circuits, Electronics, Britain's University of Nottingham, University of Hong, BIT, Communist Party's Organization Department, Zhejiang University, Communist Party, Thomson Locations: China, HONG KONG, SINGAPORE, WASHINGTON, U.S, China's, Qiming, Beijing, Hangzhou, ResearchGate, University of Hong Kong, Ma, Zhejiang, Wenzhou, Cambridge

☆ How Mexican narcos use remittances to wire U.S. drug profits home
▼ + stars: | 2023-08-18 | by ( Reuters Graphic | ) www.reuters.com time to read: +28 min

Now the news agency is the first to detail how Mexican drug gangs have harnessed legitimate remittance networks to repatriate their U.S. drug profits, and the factors that make this activity so difficult for authorities to detect and thwart. But authorities say Mexican drug cartels are piggybacking on this legal network to repatriate earnings from U.S. narcotics sales. A Reuters search of Mexican court records dating back to 2012 turned up no cases involving money laundering through remittances. Still, prosecutors in those cases mentioned several of those firms in court documents because they said the defendants had used their platforms to wire drug money. His office did not respond to requests for comment about law enforcement allegations that Mexican cartels are using remittances to launder drug money.

Persons: Money, ”, “, Andrés Manuel López Obrador, ” Jorge Godínez, ” Godínez, John Cornyn of, Chuck Grassley, ” Grassley, pocketing, John Horn, remitters ”, Horn, – Oscar Gustavo Perez, Bernal, Itzayana Guadalupe Perez, Susan Fiorella Ayala, Chavez –, Los, –, Jose Luis Rosales, Ocampo, Josue Gama, Perez, Thania Rosales, Dulce Rosales, – Ana Lilia Leal, Martinez, Ana Paola Banda, Maria de Lourdes Carbajal, Henri Watson, Carbajal, Sigue, Sangita Bricker, Transfast –, ” Sigue, Transfast, fanny, Juan de Dios Gámez, Rubén Rocha, BanCoppel, Banorte, hadn’t, El, López Obrador, ” López Obrador, Signos, Signos Vitales, Oquitoa, Enrique Cardenas, Tim Walz, Keith Ellison Organizations: Sinaloa Cartel, Reuters, Jalisco New, Mexican, WorldRemit, ., National Intelligence, narcos, U.S, Republican U.S, Treasury, U.S . Department of, U.S ., Financial Intelligence Unit, “, Federal Bureau of Prisons, Los Rosales, Kansas City, ”, Leal, IDT Corporation, IDT, Mastercard, Express Cellular, Prosecutors, IRS, Western Union, U.S . Department of Justice, Federal Trade Commission, ‘, Banco Azteca, Elektra, World Bank, Minnesota, Caborca Locations: CULIACÁN, Mexico, Mexican, Culiacán, Sinaloa, United States, Jalisco, U.S, Colorado, Union, Americas, London, John Cornyn of Texas, Iowa, Ohio, Colorado , Georgia , Ohio , Oklahoma , Texas, Virginia, Washington, Georgia, Atlanta, Columbus, Rosales, Nayarit, Michoacan, Missouri, Texas, Florida, New Jersey, Miami, , New Jersey, Ria, Kansas, California, New York, Western, Sinaloan, Costa Rica, BanCoppel, India, China, Mexico City, Minnesota, Arizona , Colorado , Florida , Illinois, New Mexico, Nevada, Oquitoa, Sonora

☆ Indonesia's GoTo narrows losses, says on track for profitability
▼ + stars: | 2023-08-15 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +2 min

JAKARTA, Aug 15 (Reuters) - Indonesia's biggest tech firm GoTo (GOTO.JK) on Tuesday said it had slashed underlying losses in the second quarter to 1.2 trillion rupiah ($78.25 million), down from 4.3 trillion rupiah a year earlier, helped by intense cost-cutting measures. Following positive results for the first half, GoTo revised its 2023 adjusted EBITDA outlook to a loss of between 4.5 trillion rupiah and 3.8 trillion rupiah, from a previously forecast loss of between 5.3 trillion rupiah and 4.6 trillion rupiah. Net revenues for the second quarter of 2023 rose to 3.6 trillion rupiah, up 86.7% from 2022, with the company's overall gross transaction value for the period reaching 143.7 trillion rupiah, it said. The company said it had slashed losses by 48% for the first half compared to a year earlier. Shares in GoTo, shorthand for GoTo Gojek Tokopedia, closed up 6.59% to 97 rupiah per share before the earnings announcement.

Persons: GoTo, Japan's, Patrick Walujo, Walujo, Tokopedia, TikTok, GoTo Gojek Tokopedia, Stefanno Sulaiman, Fanny Potkin, Conor Humphries Organizations: Japan's SoftBank, Thomson Locations: JAKARTA

☆ Factbox: The Chinese groups accused of hacking the US and others
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +4 min

July 21 (Reuters) - Chinese hacking teams have been blamed by Western intelligence agencies and cybersecurity groups for digital intrusion campaigns across the world, targeting everything from government and military organisations to corporations and media groups. The Chinese authorities said it was not aware of such hacking and described the accusations as baseless. Palo Alto Networks, a U.S. cybersecurity firm, said its research showed BackdoorDiplomacy had links to the Chinese state and was part of the APT15 hacking group. The Chinese authorities have described such reports as "groundless accusations." APT 27Western intelligence agencies and cybersecurity researchers say Chinese hacking team APT 27 is sponsored by the state and has launched multiple attacks on Western and Taiwanese government agencies.

Persons: Gina Raimondo, China Nicholas Burns, Daniel Kritenbrink, BackdoorDiplomacy, TeamT5, Nancy Pelosi, Pelosi, Mandiant, Fanny Potkin, John Geddie, Jamie Freed Organizations: Microsoft, . Commerce, Wall, Storm, Reuters, Alto Networks, APT, U.S Department Justice, U.S, Thomson Locations: China, Beijing, U.S, East Asia, Washington, Western, Taiwan, Japan, South Korea, United States, Hong Kong

☆ OpenAI's head of trust and safety steps down
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

STOCKHOLM, July 21 (Reuters) - OpenAI's head of trust and safety Dave Willner is leaving the company, he said in a LinkedIn post on Friday, citing the pressures of the job on his family life and saying he would be available for advisory work. Willner took over his role at OpenAI in February last year, after working at Airbnb and Facebook. He attributed his decision to quit to growing demands from his job affecting his family life. Microsoft-backed OpenAI, whose AI chatbot ChatGPT, has stormed the world, has said it depends on its trust and safety team to build "the processes and capabilities to prevent misuse and abuse of AI technologies". Reporting by Supantha Mukherjee in Stockholm and Fanny Potkin in Singapore; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Dave Willner, OpenAI, Willner, I've, Supantha Mukherjee, Fanny Potkin, Barbara Lewis Organizations: OpenAI, Facebook, Microsoft, Thomson Locations: STOCKHOLM, Stockholm, Singapore

☆ Marvell founders launch $2 bln chips foundry in Singapore
▼ + stars: | 2023-07-20 | by ( Fanny Potkin | ) www.reuters.com time to read: +1 min

[1/3] Silicon Box's chiplets are displayed during the opening of their advanced semiconductor manufacturing foundry in Singapore July 20, 2023. REUTERS/Edgar SuSINGAPORE, July 20 (Reuters) - Singapore-based Silicon Box opened a $2 billion advanced semiconductor manufacturing foundry in the city-state on Thursday, as it seeks to broaden adoption of "chiplet" technology. Silicon Box was created by the founders of U.S chipmaker Marvell (MRVL.O), Sehat Sutardja and wife Weili Dai, along with current CEO BJ Han. CEO Han told Reuters that "customers had been lining up" even before the factory's launch, with artificial intelligence firms driving demand. He said Silicon Box was in talks to supply Canadian AI startup company Tenstorrent.

Persons: Edgar Su SINGAPORE, Sehat Sutardja, Weili Dai, BJ Han, Han, Fanny Potkin, Sam Holmes Organizations: REUTERS, Singapore's Economic, U.S chipmaker Marvell, Reuters, Thomson Locations: Singapore

[1/2] A response by ChatGPT, an AI chatbot developed by OpenAI, is seen on its website in this illustration picture taken February 9, 2023. The EU and its member states have dispatched officials for talks on governing the use of AI with at least 10 Asian countries including India, Japan, South Korea, Singapore and the Philippines, they said. Officials from Singapore and the Philippines expressed concern that moving overly hasty regulation might stifle AI innovation. Seoul will continue discussing AI regulation with the EU but is more interested in what the G7 is doing, a South Korean official said following a meeting with Breton. The EU is planning to use the upcoming G20 meetings to further push for global collaboration on AI, notably with 2023 president India, van Huffelen told Reuters.

Persons: Florence, Alexandra van Huffelen, van Huffelen, Thierry Breton, Breton, Fanny Potkin, Sam Nussey, Supantha Mukherjee, Joyce Lee, Tomasz Janowski Organizations: REUTERS, European, EU, Reuters, Officials, General Data, European Union, South Korean, Thomson Locations: Florence Lo, SINGAPORE, TOKYO, STOCKHOLM, Asia, India, Japan, South Korea, Singapore, Philippines, Canada, Turkey, Israel, EU, France, Germany, Italy, Britain, United States, Hiroshima, Seoul

[1/2] A response by ChatGPT, an AI chatbot developed by OpenAI, is seen on its website in this illustration picture taken February 9, 2023. The EU and its member states have dispatched officials for talks on governing the use of AI with at least 10 Asian countries including India, Japan, South Korea, Singapore and the Philippines, they said. The officials asked not be named as the discussions, whose extent has not been previously reported, remained confidential. Officials from Singapore and the Philippines expressed concern that moving overly hasty regulation might stifle AI innovation. Seoul will continue discussing AI regulation with the EU but is more interested in what the G7 is doing, a South Korean official said following a meeting with Breton.

☆ Some restaurants are now adding $10,000 tiny stools for luxury handbags
▼ + stars: | 2023-07-11 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Some middle-tier restaurants are now stocking stools for diners to place their luxury handbags on. One restaurant in Paris even stocks Hermés stools that cost almost $10,000 a piece. Priced at $9,150, the stools are more expensive than many luxury handbags. "Fine-dining-only service points have made their way into more mainstream restaurants as service, generally, has become elevated across the industry." Such shoppers are generally more likely to be the target market for expensive restaurants touting their handbag stools.

Persons: Le, Shingo, Shingo Akikuni Organizations: Service, Bloomberg Locations: Paris, Wall, Silicon, Europe, Harbor, Massachusetts, Coral Gables, Circana

☆ Startup e-commerce platform Temu expands to Japan
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, July 6 (Reuters) - Ultra low-cost e-commerce platform Temu, owned by PDD Holdings (PDD.O), has started selling to Japan, marking its first foray into the Asian market. The marketplace, the sister site of Chinese discount e-commerce platform Pinduoduo, ships everything from clothing to electronics and home goods, mainly from Chinese merchants to customers overseas at rock bottom prices. A drop-down menu on Temu's website confirms Japan is one of the countries it now ships to. Temu and PDD Holdings did not immediately respond to a request for comment on its recent expansion or future plans. Vion Zhi Voon Yau, head of research at consultancy Momentum Works, described Japan as an "attractive, affluent" market for Temu.

Persons: Vion Zhi Voon Yau, Casey Hall, Fanny Potkin, Emelia Sithole Organizations: PDD Holdings, Japan, Momentum Works, Temu, Thomson Locations: SHANGHAI, Japan, United States, Boston

☆ Cambodia bars Meta oversight board over PM's Facebook account suspension
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

July 4 (Reuters) - Cambodia said on Tuesday Meta Platforms Inc's (META.O) 22-member oversight board was unwelcome in the country, days after the panel recommended suspending Prime Minister Hun Sen's Facebook account over content violations. The board's recommendation was "political in nature", Cambodia's foreign affairs ministry said. Hun Sen's Facebook account went offline last week after the Oversight Board, which is funded by Meta but operates independently, said the platform had been wrong not to remove a video he published in January that breached rules against violent threats. Hun Sen, one of the world's longest-serving leaders with nearly four decades in power, last week declared ahead of his account suspension that he would switch to communicating with his people via Telegram. One Oversight Board member, veteran Indonesian journalist Endy Bayuni, said he was not aware if any colleagues were in Cambodia or had to leave.

Persons: Hun, Meta, Hun Sen, Endy Bayuni, Kanupriya Kapoor, Fanny Potkin, Devika Organizations: Facebook, Meta, Cambodian People's Party, Reuters, Thomson Locations: Cambodia, Indonesian

☆ Hollywood's love affair with private credit could be a recipe for disaster
▼ + stars: | 2023-06-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Private credit goes Hollywood. A town that loves a good story has a leading role in the biggest one on Wall Street. So in that vein, private credit filling the gap left by banks reconsidering their lending decisions is great. Ratings agency Moody's has already raised the alarm, suggesting defaults among borrowers in private credit will rise. But I think it's fair to say that industry isn't as cut and dried as others private credit might be lending to.

Persons: Dan DeFrancesco, fanny, —, we've, Maks, it's, Insider's Reed Alexander, Rebecca Ungarino, Reed, Rebecca, Moody's, Consuelo Vanderbilt Costin, Bryan Griffin, James, Jim, Crown, Henry Crown, Junius Myer Schine, David Sinclair, Jeffrey Cane, Hallam Bullock Organizations: Credit Suisse, Wall, Investment, Hollywood, Creators, The Vanderbilt, UBS, JPMorgan, Fidelity, Wall Street, LinkedIn Locations: Hollywood, Swiss, Aspen , Colorado, Silicon, Jersey Shore, New York, London

☆ Gen Z and millennial shoppers are swapping handbags for fanny packs and totes
▼ + stars: | 2023-06-27 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Gen Z and millennial shoppers are ditching handbags for fanny packs and tote backs. The pandemic made remote working a norm and this popularized casual wear for various occasions. According to new data from consumer behavior analysis firm Circana – which tracks the online and in-store purchases of 150,000 US consumers – Gen Z and millennial consumers aged between 18 and 34 are buying fewer handbags than older shoppers. "Versatile, hands-free options, including backpacks and fanny packs, have proven to be very desirable," she added. Fanny packs have had a comeback in recent years among younger generations because they're small enough to hold essential items when going clubbing or to a festival.

Persons: Z, fanny, —, Gen Z, Millennials, Beth Goldstein, Circana Organizations: tote, Service

☆ This Clever Crossbody Bag Is My Secret to Stress-Free Travel Days
▼ + stars: | 2023-06-26 | by ( Hannah Selinger | ) www.wsj.com time to read: +4 min

Until, that is, a friend familiar with my travel-purse struggles surprised me with the gift of my new travel savior: the July “Carry Me” Bag. My small, handy purse helped me navigate a new-to-me place with ease, thanks to its clever construction. The Carry Me bag, available in seven different colors—I prefer the Clay hue—is no ordinary travel bag; I’ve had plenty of those. On hot days on my trips to both Turks & Caicos and Türkiye, being able to quickly open my bag and reach for my sunnies was essential. The Carry Me Bag also comes with a detachable, adjustable strap—an essential for my traveling purposes.

Persons: Hannah Selinger, fanny, it’s, I’m Locations: Caicos , New York, Türkiye, Istanbul, Australian

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