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☆ Fidelity raises $700 mln in its first bond mutual fund in China
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +3 min

SHANGHAI/SINGAPORE, Nov 23 (Reuters) - Fidelity International has garnered 5 billion yuan ($700 million) from investors for its first fixed income mutual fund in China, deepening the asset manager's involvement in the $3.8 trillion mutual fund market. The bond fund - Fidelity's second mutual fund product in China - raised the sum mainly from institutional investors in a three-week, shortened subscription period, the money manager said. China's mutual fund industry is crowded with over 150 players, including foreign ones such as BlackRock (BLK.N), Schroders (SDR.L) and JPMorgan Asset Management. "The fundraising size is rather encouraging," due to tough competition in the local market and Fidelity's limited track record in China, said Huang, who heads Fidelity International's two-year-old China mutual fund unit. Fidelity International was formerly the international investment arm of Boston-based Fidelity Investments before being spun off.

Persons: Helen Huang, Huang, Neuberger Berman, ASIFMA, Li Gu, Samuel Shen, Tom Westbrook, Muralikumar Organizations: Fidelity International, Reuters, Fidelity, JPMorgan Asset Management, Fidelity Investments, Regulators, China Securities Regulatory Commission, Thomson Locations: SHANGHAI, SINGAPORE, China, BlackRock, Boston, Beijing, Shanghai, Singapore

☆ Have to be 'clever' with product mix to attract Chinese tourist customers: Sa Sa CFO
▼ + stars: | 2023-11-20 | 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 EmailHave to be 'clever' with product mix to attract Chinese tourist customers: Sa Sa CFOSa Sa International's CFO Danny Ho explains how the beauty product retailer is trying to attract Mainland Chinese customers as they return to Hong Kong with changed spending habits.

Persons: Sa, Sa Sa, Danny Ho Locations: Hong Kong

☆ MGM's Detroit Casino Workers Reject New Labor Deal
▼ + stars: | 2023-11-20 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Workers at MGM Resorts International's Detroit casino have rejected a tentative five-year labor contract and will continue with their month-long strike, union officials said on Monday. However, about 2,100 union members at Hollywood Casino at Greektown and MotorCity Casino voted on Monday to ratify the new contract, ending a 34-day strike. The council reached a tentative agreement on Nov. 17 for a new contract covering 3,700 workers at MGM Grand Detroit, Hollywood Casino at Greektown operated by Penn Entertainment and MotorCity Casino. Despite the continuation of the strike at MGM Grand, operations will continue as usual, the casino said. About 40,000 hospitality workers in the Las Vegas Strip also reached a tentative labor deal with casinos operated by Wynn Resorts, Caesars Entertainment and MGM earlier this month.

Persons: Ananta Agarwal, Anil D'Silva Organizations: Reuters, Workers, MGM Resorts, Detroit Casino Council, MGM, Hollywood, MotorCity, MGM Grand Detroit, Penn Entertainment, United Auto Workers, UAW, Teamsters, Las Vegas, Wynn Resorts, Caesars Entertainment Locations: Detroit, Greektown

AMZN mountain 2021-01-01 Amazon's stock performance since the start of 2021. CRM mountain 2021-01-01 Salesforce's stock performance since the start of 2021. DHR mountain 2021-01-01 Danaher's stock performance since the start of 2021. DIS mountain 2021-01-01 Disney's stock performance since 2021. SWK mountain 2021-01-01 Stanley Black & Decker's stock performance since the start of 2021.

Persons: It's, Eli Lilly, Salesforce, Bob Iger's, Emerson, Lal Karsanbhai, hasn't, tanked, Laxman Narasimhan, Stanley Black, Decker, –, Jim Cramer's, Jim Cramer, Jim, Michael Nagle Organizations: Federal Reserve, Dow Jones Industrial, Nvidia, Microsoft, Linde, LIN, Broadcom, Web Services, Walt Disney, Paramount, Warner Bros Discovery, Disney, Emerson, Emerson Electric, National Instruments, Google, Honeywell, Honeywell International, Technologies, Solutions, Meta, Reality Labs, Starbucks, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, Seattle, Danaher's, China

He lost in a run-off vote to Weah in 2017. "Boakai strikes me as a grandfather figure – someone you would trust with your life. Official results on Friday showed Boakai had 50.9% of the vote over Weah's 49.1%, with more than 99% of votes counted, prompting Weah's concession. In an interview shortly after the results, a softly-spoken Boakai told Reuters that his primary focus would be to bring the country together after a divisive election. Boakai, meanwhile, lives in a relatively modest bungalow that has barely changed since he moved in 50 years ago.

Persons: George Weah, Joseph Boakai, Amara Konneh, Ellen Johnson Sirleaf, Robtel Neajai, Boakai, Konneh, Unity Party Joseph Boakai, Carielle, Sirleaf's, Weah, Prince Jaygbah, Joe, Edward McAllister, Clelia Organizations: Liberia's, College of West, Reuters, African, Bank, Unity Party, Toyota, Thomson Locations: MONROVIA, DAKAR, College of West Africa, Tuesday's, Monrovia, Africa's, Americas, Liberia, Warsonga, Sierra Leone, Milan, London, Paris

☆ Cramer's lightning round: Archer Aviation is 'way too speculative for me'
▼ + stars: | 2023-11-16 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon SolarEdge's year-to-date stock performance. Stock Chart Icon Stock chart icon Arbor Realty's year-to-date stock performance. Stock Chart Icon Stock chart icon Liberty Media's year-to-date stock performance. Stock Chart Icon Stock chart icon Square-parent Block's year-to-date stock performance. Stock Chart Icon Stock chart icon Becton Dickinson's year-to-date stock performance.

Persons: Archer Aviation's, I've, Arbor, We're, Philip Morris International's, Philip Morris, Becton, Becton Dickinson Organizations: Archer Aviation, SolarEdge Technologies, Arbor Realty Trust, Liberty, Philip Morris International

☆ Taylor Swift and Beyoncé won't prop up the US economy much longer, with Americans' COVID-era savings running dry
▼ + stars: | 2023-11-06 | by ( George Glover | ) www.businessinsider.com time to read: +5 min

But economists are warning the bump in growth won’t last forever, with Americans’ COVID-era savings running dry. AdvertisementAdvertisementTaylor Swift, Beyoncé, and the "Barbenheimer" box-office craze all gave the American economy a much-needed boost this summer. AdvertisementAdvertisementFunflation won't lastAmericans' summer spending splurge on concert and film tickets didn't come out of nowhere. "You've run down the savings rate so a lot of people have basically been spending well beyond what they've been earning. That's why the Taylor Swift economy isn't likely to last.

Persons: Taylor Swift, ’, —, Marc Ostwald, Anna Wong, Eliza Winger, they've, You've, that's, Freddie Mac, Beyonce Organizations: Service, ADM, Services International's, Bloomberg, ADM ISI's, Federal Reserve Locations: American

☆ Slow Pizza Hut sales in the U.S. weigh on Yum Brands' revenue
▼ + stars: | 2023-11-01 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

(photo by Mike Kemp/In Pictures via Getty Images)Yum Brands on Wednesday reported third-quarter revenue that fell short of analysts' expectations, hurt by weak same-store sales growth at Pizza Hut. Yum China CFO Andy Yeung said that sales had softened in late September through October, hurting its fourth-quarter results. But in the U.S., its second-largest market, KFC saw flat same-store sales growth. The pizza chain reported 2% same-store sales growth for international restaurants and flat same-store sales in the U.S.Pizza Hut isn't the only pizza chain that has struggled to win over U.S. consumers. Rival Domino's Pizza reported a 0.6% drop in same-store sales during its third quarter.

Persons: Mike Kemp, Andy Yeung, Yum, David Gibbs, Gibbs, Chick, Taco Bell Organizations: Getty, Brands, Refinitiv, Indian, Taco, KFC, U.S Locations: Birmingham, United Kingdom, China, Taco Bell's U.S, U.S

[1/2] Kenyan workers check clothes made for export at the United Aryan Export Processing Zone (EPZ) factory, operating under the U.S. African Growth and Opportunity Act (AGOA), in Ruaraka district of Nairobi, Kenya October 26, 2023. REUTERS/Thomas Mukoya Acquire Licensing RightsNov 1 (Reuters) - South Africa will host the annual African Growth and Opportunity Act (AGOA) Forum in Johannesburg from Nov 2-4 to discuss the United States' flagship trade programme for the continent. The African Growth and Opportunity Act is a U.S. trade initiative passed in 2000 under former President Bill Clinton to deepen trade ties with Sub-Saharan Africa and help African countries develop their economies. AGOA provides duty-free access to the U.S. market for most agricultural and manufactured products exported by eligible African countries. African countries are pushing for an early 10-year extension without changes in order to reassure businesses and investors who might have concerns over AGOA's future.

Persons: Thomas Mukoya, Bill Clinton, AGOA, Nellie Peyton, Joe Bavier, Alexander Smith Organizations: United Aryan, Processing, U.S ., REUTERS, WHO, AGOA, U.S . Trade, Thomson Locations: Ruaraka district, Nairobi, Kenya, South Africa, Johannesburg, United States, U.S, Saharan Africa, Ghana, Lesotho, Madagascar, Ethiopia, AGOA .

☆ South Korean court upholds ban on gay sex within armed forces
▼ + stars: | 2023-10-26 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +1 min

Participants wave a rainbow flag as they march on a street during the Korea Queer Culture Festival 2022 in central Seoul, South Korea, July 16, 2022. Under the country's military criminal act, members of the armed forces face up to two years in prison for same-sex relationships. The law has been referred to the court and upheld by it four times since 2002. In Thursday's five-to-four ruling, the court said allowing same-sex relations could undermine discipline within the military and harm its combat capabilities. South Korea has one of the world's largest active armies, with all able-bodied men between the ages of 18 and 28 required to serve between 18 and 21 months.

Persons: Heo, Activists, Boram Jang, Soo, hyang Choi, John Stonestreet Organizations: Korea Queer Culture, REUTERS, Rights, Amnesty, Thomson Locations: Korea, Seoul, South Korea, Rights SEOUL, East Asia

☆ Key takeaways from the IMF/World Bank meetings
▼ + stars: | 2023-10-14 | by ( ) www.reuters.com time to read: +5 min

Global inflation is seen dropping from 6.9% this year to a still-high 5.8% next. Italian central bank governor Ignazio Visco said there was an impression markets were "reevaluating the term premium" as investors become more nervous about holding longer term debt. One debt restructuring deal emerged: Zambia finally agreed a debt rework memorandum of understanding with creditors including China and France. Sri Lanka said on Thursday it reached an agreement with the Export-Import Bank of China covering about $4.2 billion of debt, while talks with other official creditors are stalling. There was much talk ahead of Marrakech on revamping the IMF and World Bank to better reflect the emergence of economies like China and Brazil.

Persons: Ajay Banga, Mercy Tembon, Finance Serhiy Marchenko, Ceda Ogada, Kristalina Georgieva, Pierre, Olivier Gourinchas, Ignazio Visco, Joyce Chang, Vitor Gaspar, Mehmet Simsek, Murat Ulgen, Kate Donald, Ahmed El Jechtimi, Andrea Shalal, David Lawder, Leika Kihara, Elisa Martinuzzi, Rachel Savage, Jorgelina, Rosario, Balazs Koranyi, Mark John, Christina Fincher Organizations: Bank, Finance, International Monetary Fund, Emerging, Research, HSBC, Reuters, Export, Import Bank of, World Bank, Oxfam International's Washington DC Office, Thomson Locations: Ukraine, MARRAKECH, Morocco, Moroccan, Marrakech, Israel, Central, United States, China, Italy, Italian, Turkey, Kenya, Zambia, France, Sri Lanka, Import Bank of China, Brazil, U.S

☆ Watch CNBC’s full interview with Rockefeller International's Ruchir Sharma
▼ + stars: | 2023-10-09 | 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 EmailWatch CNBC’s full interview with Rockefeller International's Ruchir SharmaRuchir Sharma, Rockefeller International chairman, joins 'Closing Bell: Overtime' to discuss the geopolitical risks to the markets.

Persons: Rockefeller International's Ruchir Sharma Ruchir Sharma Organizations: Rockefeller International

Last year, I made what I thought was a pretty solid money move: I opened a high-yield savings account and moved my money from a savings account earning me very little interest. Ally's high-yield savings account had a 2.0% interest rate at the time. My savings account back then was offering only 0.05% interest, and the simple maneuver yielded 40 times the savings. I'm still using my high-yield savings accountI keep a cushion of funds in my Ally high-yield savings account for big-ticket purchases, vacations, and emergencies. But for now, I'm happy with keeping my savings in a combination of high-yield CDs and savings accounts.

Persons: Ally, I've, I'm, Jackie Lam Jackie Lam, Jackie Organizations: AFC, Money Management, Finance Media Locations: Los Angeles

☆ China kicks off its plan to take on the cruise industry: 'There's no turning back'
▼ + stars: | 2023-09-30 | by ( Hannah Towey | Brittany Chang | ) www.businessinsider.com time to read: +7 min

After a three-year hiatus, international cruise lines can resume sailings from China. AdvertisementAdvertisementRoyal Caribbean's Wonder of the Seas, once the world's largest cruise ship, was originally scheduled for year-round sailing from China. Then COVID-19 shut down the cruise industry and China blocked sailings from international cruise lines. Now, after a three-year hiatus, international cruise lines can resume sailings from China. Enter the Adora Magic City, the first Chinese-built and operated cruise ship.

Persons: —, Kun Cao, Reddal, James D, Morgan China, Cao, Joel Katz, Asia —, Michael Bayley, Bayley, Yang Guobing, Andy Stuart, Skift, it's Organizations: Service, Seas, Royal Caribbean, Magic City, Cruise, Royal Caribbean International, China China's, China State Shipbuilding Corporation, Carnival Corporation, Publishing, Getty Images, Viking Cruises, China Merchants Group, Royal, MSC, CSSC Carnival Cruise Shipping, Xinhua, Getty, Cruise Line, Global Times Locations: China, Shanghai, Fort Lauderdale , Florida, Southern, Magic, Caribbean, Asia, Australasia, CLIA, United States, Miami, Switzerland, Royal Caribbean, —, Norwegian, Alaska

☆ Trump's 'gobbledygook' math has lowballed, for a decade, how many fish he kills to cool his Chicago tower: AG
▼ + stars: | 2023-09-25 | by ( Laura Italiano | ) www.businessinsider.com time to read: +14 min

Trump Tower uses millions of gallons of Chicago River water a day to heat and cool its 98 floors. Illinois Attorney General's Office/InsiderThe Illinois EPA responded to the apparent discrepancy by issuing Trump Tower a violation notice on August 31. The two groups are parties to the state's ongoing, 2018 environmental lawsuit against the tower, Trump's tallest building worldwide. Trump Organization lawyers have resisted changing how Trump's Chicago tower heats and cools. Trump International Hotel & Tower in Chicago has used "gobbledygook" math to lowball its impact on the Chicago River, state officials and environmentalists say in court papers.

Persons: —, Donald Trump's, Trump, general's, Trump –, Albert Ettinger, Kwame Raoul's, Trump's, It's, Charles Rex Arbogast, Ettinger, Nam, Huh Trump, Jack Darin, Darin, Donald Trump, AP, IEPA, Alan Garten, Peter Alan Henderson, Henderson, Donald Trump , Jr, Eric Trump, Ivanka Trump, Christopher Wiggins, he'd, John Arranz, Wiggins, Kiichiro Sato, Margaret Frisbie, Frisbie Organizations: Trump, Service, Trump International Hotel, Tower, Illinois Environmental, Agency, Wabash Venture, Trump Organization, General's, EPA, Sierra Club, Friends, Chicago Sun, federal, Hotel, AP, Chicago Tribune, Illinois Sierra Club, Chicago's Trump International Hotel, AP Trump, Sun, Times, Ecologist Locations: Chicago, Illinois

According to Maiboroda, Mykytas used Tatarov for difficult tasks, including bribe payments on behalf of Ukrbud Development. "He knew about law enforcement and warned us to be careful about saying almost anything on the phone," Maiboroda told Reuters. The National Anti-Corruption Bureau of Ukraine (NABU) said experts would need to study the material to verify it. "The main thing is that a person is honest," Zelenskiy told reporters several days after Tatarov's appointment. Zelenskiy told Ukrainian television network ICTV in October 2021 that the offshore arrangement was to protect his TV production business from political pressure by the Yanukovych government.

Persons: Oleh Maiboroda, Maiboroda, Oleh Tatarov, Volodymyr Zelenskiy, Tatarov, Maiboroda's, Ukraine's, Zelenskiy, Kyiv pollsters, Oleksii Reznikov, Reznikov, Daria Kaleniuk, Nicola Mirto, Mirto, Viktor Yanukovych, Yanukovich's, Maxym Mykytas, Mykytas, Maiborada, NABU, Yanukovych, –, General Iryna Venediktova, Artem Sytnyk, Sytnyk, didn't, Oleksiy Symonenko, Symonenko, Andriy Yermak, Yermak, Denys, Dmytro Shtanko, Liudmyla, Sergey Shefir, Shefir, Vyacheslav Shapovalov, Yaroslav Zheleznyak, Zheleznyak, Zelensky, Ihor, Kolomoisky, Semen Kryvonos, Kaleniuk, ”, Stephen Grey, Dan Peleschuk, Janet McBride Organizations: Reuters, Ukrbud, Prosecutors, Ukraine's, European Union, International Monetary Fund, Kyiv, Kyiv Independent, Tatarov, Ministry, Interior Ministry, Virgin Islands, ICTV, National Agency for, Ministry of Defence, Kiel Institute, NATO, Thomson Locations: VIENNA, KYIV, Vienna, Ukraine, Tatarov, Russia, Europe, European, Kyiv, Italian, Ukrainian, Soviet Ukraine, Zelenskiy's, Switzerland, Spain, Soviet, United States, Irpin

"Unless Zelenskiy gets rid of Tatarov, he won't be seen as serious in purging the country of corruption," she told Reuters. "He knew about law enforcement and warned us to be careful about saying almost anything on the phone," Maiboroda told Reuters. The National Anti-Corruption Bureau of Ukraine (NABU) said experts would need to study the material to verify it. "The main thing is that a person is honest," Zelenskiy told reporters several days after Tatarov's appointment. Zelenskiy told Ukrainian television network ICTV in October 2021 that the offshore arrangement was to protect his TV production business from political pressure by the Yanukovych government.

☆ FTC Chairwoman Lina Khan reportedly had to write her credit card number on a piece of paper to check in at the MGM Grand when its computers were down in the cyberattack
▼ + stars: | 2023-09-16 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

MGM Resorts suffered a cyberattack that affected its reservation system and casino games. Guests trying to check in at the MGM Grand Hotel in Las Vegas had to do so manually. Among those 45 patrons was FTC chairwoman Lina Khan, the outlet reported. The FTC didn't immediately respond to Insider's request for comment, but a spokesperson for the agency confirmed to Bloomberg that Khan was in Las Vegas. AdvertisementAdvertisement"MGM Resorts recently identified a cybersecurity issue affecting some of the Company's systems," a statement on MGM Resorts International's website reads.

Persons: Lina Khan, Khan, shrugged, FTC didn't Organizations: MGM Resorts, MGM, Service, Federal Trade Commission, Las, Bloomberg, Caesars Entertainment, FTC Locations: Las Vegas, Wall, Silicon

☆ Meet the warrior interns: College students hell-bent on winning the CV arms race, who'll stack all the jobs they can to make their resumes shine
▼ + stars: | 2023-09-10 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +11 min

This is becoming a rite of passage for those who want good jobs, one career counselor told Insider. Advertisement Advertisement Watch:Singaporean undergraduate Amelia Yamato Leow told Insider that she started interning right after secondary school. Ong told Insider she's done an internship every summer break, and has worked during the college semester, too. You see from the inside how things work, and how people work, and most importantly, you can build rapport," Chin told Insider. This is especially so for complex industries like banking, Ted Teo, an adjunct assistant professor at the National University of Singapore, told Insider.

Persons: Amelia Yamato Leow, hasn't, who's, Leow, she's, Nicole Ong, Ong, you've, Justin Chin, Chin, Eddie Phua, Phua, Gao, Xinrui Gao Xinrui Gao, it's, Adrian Teh, Teh, they'll, Megan Wong, Wong, Sim Cher Young, Sim, Adrian Choo, Ted Teo, Teo, Goldman Sachs, Shaw, Singapore Management University's Sim, International's Choo Organizations: Service, National University of Singapore, PayPal, NUS, National University of Singapore Business, NUS Business School, Nanyang Technological University, Singapore Management University, LinkedIn, Citadel, Harvard, Singapore Management Locations: Singapore, Wall, Silicon, fintech

Fundraising and deal-making have dropped sharply at European private debt funds, new data shows. Faisal Ramzan, a partner at law firm Proskauer Rose who advises private credit funds, said he was not seeing default. "There's plenty of dry powder," said Fidelity International's head of private credit strategies Michael Curtis, referring to capital raised already. Joanna Layton, managing director of European private credit at Alcentra, one of Europe's largest private debt managers, added there was "no rush" to deploy capital. High rates have also made private credit less appealing to institutional investors, analysts said.

Persons: Henry Nicholls, Francesco Sandrini, BoE, Andrew Cruickshank, Cruickshank, Pictet, Patrick Marshall, Faisal Ramzan, Proskauer Rose, Michael Curtis, Joanna Layton, Mark Brenke, Ardian, Chris Sier, Sier, Dhara Ranasinghe, Catherine Evans Organizations: City, REUTERS, Reuters Graphics Reuters, The Bank of, European Central Bank, Graphics, Deloitte, Fitch, Federated Hermes, Fidelity International, ClearGlass, Thomson Locations: London's, London, Britain, The Bank of England

☆ One economist still feels a recession is looming — because corporate borrowing costs could shoot up, thanks to rising interest rates
▼ + stars: | 2023-09-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Fidelity International's Salman Ahmed is predicting a recession on the back of high interest rates, per Bloomberg. AdvertisementAdvertisementThe increased cost of borrowing due to higher interest rates means companies may not be able to invest in growth. Consumer spending also typically falls when interest rates rise. By the end of 2008, its benchmark interest rate — the Fed Funds Rate was close to 0%. The Fed has been hiking interest rates relentlessly since March 2022 to combat red-hot inflation as the pandemic receded.

Persons: Salman Ahmed, Ahmed, Fidelity's Ahmed —, —, Ahmed isn't, David Rosenberg Organizations: Fidelity, Bloomberg, Service, Federal Locations: Wall, Silicon

☆ Ukraine arrested the oligarch who owns the TV station that aired Volodymyr Zelenskyy's show before he became president
▼ + stars: | 2023-09-03 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Ukraine has detained Ihor Kolomoisky, a prominent oligarch, as part of an anti-corruption drive. Kolomoisky owns the TV station that showed Volodymyr Zelenskyy's "Servant of the People." The country's security service said on its Telegram channel that oligarch Ihor Kolomoisky would be held in custody for two months on fraud and money laundering charges. AdvertisementAdvertisementUkrainian oligarch Ihor Kolomoisky appeared in court on Saturday. Kolomoisky owns the TV station 1+1 that broadcast "Servant of the People," in which Zelenskyy played a comedian who becomes president.

Persons: Ihor Kolomoisky, Kolomoisky, Volodymyr Zelenskyy's, Volodymyr Zelenskyy, Forbes, Vladyslav Musiienko, Reuters Zelensky, Zelenskyy, they'd, oligarch, Petro Poroshenko Organizations: Reuters, BBC News, Kyiv International Institute of Sociology Locations: Ukraine, Russia, Kolomoisky

An unprecedented liquidity crisis in China's vast property sector is a major risk to a sputtering post-COVID recovery in the world's second-biggest economy, which has rattled global markets. Country Garden debt payment extension buys time for China's largest private developer to avoid default, and is good news for financial markets and the Chinese government, which has announced a raft of measures to support the property sector. In Friday's vote, 56.08% of participating Country Garden onshore creditors approved the extension, 43.64% opposed and 0.28% abstained, an official document shared with bondholders showed. Country Garden did not immediately respond to a request for comment. A default by Country Garden would have exacerbated the real estate crisis and put more strain on its onshore lenders.

Persons: spiralled, Junan, Zhou Hao, Moody's, Xie Yu, Kevin Huang, Li Gu, Sumeet Chatterjee, William Mallard Organizations: Reuters, HK, China Evergrande, Thomson Locations: HONG KONG, Beijing, China, Caa1, Hong Kong, Shanghai

☆ Zelenskiy says he will propose tougher corruption measures this week
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +2 min

Ukrainian President Volodymyr Zelenskiy speaks during a joint press statement with Greek Prime Minister Kyriakos Mitsotakis, as they meet at the Maximos Mansion in Athens, Greece, August 21, 2023. REUTERS/Stelios Misinas Acquire Licensing RightsKYIV, Aug 27 (Reuters) - Ukrainian President Volodymyr Zelenskiy said in a television interview shared on his Telegram channel on Sunday that he would ask parliament in the coming week to increase penalties for those found guilty of corruption during wartime. "I think the parliament will get it in the next week and then the ball is in the parliament's court," he added. A series of government shake-ups over corruption included Zelenskiy's dismissal this month of all the regional military recruitment chiefs after a nationwide audit. "We are fast approaching the point where it will be us or them," Deputy Prime Minister Iryna Vereshchuk said on the Telegram app on Sunday.

Persons: Volodymyr Zelenskiy, Kyriakos Mitsotakis, Stelios Misinas, Zelenskiy, Iryna Vereshchuk, Nick Starkov, Elaine Monaghan, Chris Reese Organizations: Greek, REUTERS, Rights, Russia, Ukraine, Thomson Locations: Athens, Greece, Washington

☆ Altria seeks US import ban on Juul e-vapor products
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

The move escalates a dispute between the two e-cigarette makers after Juul filed a similar patent infringement case against NJOY at the ITC in June. NJOY said in its filings that Juul products infringe two of its patents, and that it intends to obtain a ban on products including its currently marketed Juul device and Juul pods. NJOY also sued Juul in Delaware on Tuesday for infringing the same patents, seeking an unspecified amount of damages. Juul filed its own patent lawsuits against NJOY and Altria at the ITC and in Arizona federal court in June, seeking money damages and a ban on imports of NJOY's Ace vapor device. Altria won more than $95 million from cigarette rival R.J. Reynolds in North Carolina federal court last year after a jury found RJR infringed other Altria e-cigarette patents.

Persons: Elijah Nouvelage, NJOY, Juul, Altria, Reynolds, RJR, Philip Morris International's, Granth, Chris Kirkham, Blake Brittain, Krishna Chandra Eluri, Marguerita Choy Organizations: REUTERS, Altria, Juul Labs, U.S . International Trade Commission, ITC, NJOY Holdings, NJOY, RJR, Thomson Locations: Atlanta , Georgia, U.S, Marlboro, Juul, Delaware, Arizona, North Carolina, Bengaluru, Los Angeles, Washington

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