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☆ South Korean defense stocks power ahead as overseas interest grows for weapon systems
▼ + stars: | 2023-08-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +6 min

In this handout image released by the South Korean Defense Ministry via Dong-A Daily, a missile is fired during a joint training between the United States and South Korea on June 6, 2022 in East Coast, South Korea. South Korean Defense Ministry | Getty ImagesSouth Korean defense stocks have recorded stellar gains over the past 12 months, with one stock soaring more than 60% as tensions on the Korean Peninsula accelerate. The company manufactures air defense systems, armored fighting vehicles and artillery systems. Escalating tensions in the Korean Peninsula have also kept interest in South Korean weapon platforms high. Tech and industrial baseMorgan Stanley is optimistic about the outlook for the South Korean defense industry.

Persons: Ukraine —, Morgan Stanley, National Defense Mariusz Blaszczak, Maffei, Janes, Youngsoo Han, Kayoung Lee, KAI, Victor Cha, Cha, Yoon Suk Organizations: South Korean Defense Ministry, Getty, Hanhwa Aerospace, Hanhwa Group, Peace Research Institute, The, North, South Korea —, South Korean, K9, Hyundai Rotem, Korea Aerospace Industries, Korean, Poland's, National Defense, Nikkei, NATO, Krauss, South, FA, Samsung Securities, ., Center for Strategic, International, CNBC Locations: United States, South Korea, East Coast , South Korea, Ukraine, South, Stockholm, The U.S, East, Europe, Korean, U.S, Jeju, North Korea, Asia, Russia, Poland, Polish, South Korean, Malaysia, . Tech, Korea

☆ Francisco Partners & TPG to take New Relic private in $6 billion all-cash deal
▼ + stars: | 2023-07-31 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

A consortium led by Francisco Partners and private equity group TPG will take software provider New Relic private in an all-cash, $87-a-share offer that values the company at nearly $6.5 billion, the company announced Monday. Reuters reported in May that Francisco Partners and TPG had ended deal talks after failing to secure enough debt financing to meet New Relic's desired valuation. Since that report, the private equity groups were able to obtain financing and meet New Relic's valuation requirements. Under the terms of the deal, New Relic will have a 45-day "go-shop" period, during which it can entertain offers from other qualified bidders. Francisco Partners is a technology-focused private equity firm with past investments in Barracuda Networks, On Semiconductor , and K2.

Persons: Lew Cirne, Jana, Zscaler Organizations: Francisco Partners, TPG, New York Stock Exchange, Reuters, New, Jana Partners, Barracuda Networks, Semiconductor, Sumo Logic

☆ Norwegian woman and Nepali guide set record for summit of 14 ‘super peaks’
▼ + stars: | 2023-07-27 | by ( Caolán Magee | ) edition.cnn.com time to read: +2 min

CNN —A Norwegian woman and a Nepali man smashed the record on Thursday for the fastest summit of all 14 of the world’s 8,000-metre (26,000-feet) mountains, their team said in a statement. The pair surpassed Nepal-born British adventurer Nirmal Purja’s record of six months and six days, set in 2019. Purja is now attempting to set the record for the fastest ascent of all 14 peaks without supplemental oxygen, he said on Twitter. Mount Everest, the tallest of the 14 highest peaks, issued permits for a record number of climbers this year, for this spring season’s expeditions. According to Nepali officials as the spring climbing season came to an end in June, 12 people died and five were missing on Everest.

Persons: Kristin Harila, Lama –, “, Nirmal Purja’s, Nirmal Purja, Mount Everest, Nirmal, ” Lama, Everest Organizations: CNN, Twitter Locations: Norwegian, Nepal, Purja, Mount

☆ Norwegian woman, Nepali sherpa become world's fastest to climb all 14 tallest peaks
▼ + stars: | 2023-07-27 | by ( Gopal Sharma | ) www.reuters.com time to read: +2 min

“They have become the fastest to climb all 14 peaks,” Tashi, told Reuters, quoting information from the base camp. Climbing all 14 highest peaks in a few months is a challenging feat, which is normally done by many climbers in years. They set the fastest climbing record by beating Nirmal Purja from Nepal who completed all peaks in six months and one week in 2019. "They have made a summit a short while ago," Madison told Reuters adding that the Norwegian woman was "extremely tough mentally and physically". One of the sherpas, the 17-year-old Nima Rinjin Sherpa, also becomes the youngest to climb K2, Tashi said.

Persons: Kristin Harila, Nepal’s Tenjen, Tashi Lakpa Sherpa, Tashi, Nirmal Purja, Cho Oyu, Nanga Parbat, Gasherbrum, Garrett Madison, Madison, Nima Rinjin Sherpa, Gopal Sharma, Michael Perry Organizations: Seven, Guinness, Madison Mountaineering, Reuters, Thomson Locations: KATHMANDU, Norwegian, Pakistan, Kathmandu, “, Nepal, Tibet, China, Annapurna, U.S

☆ Health-conscious millennials, Gen Zers are making cottage cheese cool again—but is it really that good for you?
▼ + stars: | 2023-06-30 | by ( Renée Onque | ) www.cnbc.com time to read: +4 min

That number has since fallen to 1.9 pounds of cottage cheese per person in one year in 2021, USDA data shows. But is cottage cheese— or any cheese for that matter— actually good for you? Compared to other cheeses, including American cheese, cottage cheese is a much healthier option because it's less processed, says Shanahan. "Cottage cheese is healthier than American cheese because it's fermented and has some live bacteria in there [like] yogurt has," she says. "I'm not confident to suggest cottage cheese would be significantly different than other types of cheese," Sun tells CNBC Make It.

Persons: Zers, Cate Shanahan, Shanahan, Qi Sun, I'm, Sun, wouldn't Organizations: NPR, U.S . Department of Agriculture, Shanahan, CNBC, Harvard, of Public Health Locations: TikTok, cheddar, Chan

☆ Russia turmoil to fuel market volatility, flight to safety
▼ + stars: | 2023-06-24 | by ( ) www.reuters.com time to read: +5 min

The question is how much and how lasting the reaction will be, much of which depends upon unknowable developments." It is reasonable to expect oil and other key commodity prices to rise. If oil prices rise sharply, that will indeed weigh upon equities and reignite stagflation fears. In theory it should benefit from a flight to safety, but in practice a strong dollar can impede it." “Probably bearish Indian stocks too as the dividend they’ve received from cheap Russian oil likely disappears.

Persons: Wagner, Stringer, STEVE SOSNICK, stagflation, MICHAEL PURVES, DAVID KOTOK, Putin, Orban, ’, GEORGE BOUBOURAS, JAMIE HALSE, “, Tom Westbrook, Megan Davies, Carolina Mandl, Ira Iosebashvili, Lananh Nguyen, Daniel Wallis Organizations: Southern Military District, REUTERS, Moscow, Defense, CUMBERLAND, NATO, MELBOURNE, WHO, SYDNEY, Thomson, & & Locations: Rostov, Don, Russia, Russian, China, SARASOTA , FLORIDA, Belarus, Soviet, EU, Hungary, Turkey, JAPAN, Ukraine, Eastern Europe, Singapore, New York

The Hindu Kush Himalaya stretches 3,500 km (2,175 miles) across Afghanistan, Bangladesh, Bhutan, China, India, Myanmar, Nepal and Pakistan. At 1.5 degrees Celsius or 2C of warming above preindustrial temperatures, glaciers across the entire region will lose 30% to 50% of their volume by 2100, the report said. At 3C of warming — what the world is roughly on track for under current climate policies — glaciers in the Eastern Himalaya, which includes Nepal and Bhutan, will lose up to 75% of their ice. THE FULL PICTUREScientists have struggled to assess how climate change is affecting the Hindu Kush Himalaya. “We have a better sense of what the loss will be through to 2100 at different levels of global warming.”LIVELIHOODS AT RISKWith this newfound understanding comes grave concern for the people living in the Hindu Kush Himalaya.

Persons: Tika Gurung, “ We’re, we’re, ”, Philippus Wester, Wester, Tobias Bolch, “, “ We’ve, Amina Maharjan, Gloria Dickie, Frances Kerry Organizations: Integrated Mountain Development, United, “, Graz University of Technology, Thomson Locations: Langtang, Nepal, 1.5C, Asia’s, Kathmandu, Afghanistan, Bangladesh, Bhutan, China, India, Myanmar, Pakistan, North, Rocky, United States, it’s, Austria, Wester, ”, London

CNN —Gelje Sherpa was on his way to the top of the world’s highest mountain when he spotted the climber clinging to the rope. The climber, from Malaysia, had “nothing” and was “about to die,” the 30-year-old Nepali mountain guide told CNN’s Anderson Cooper in an interview Thursday. The sherpa has previously carried out more than 55 rescues, some very long operations, but said this was the “hardest in my life.”Ngima Tashi Sherpa carries a Malaysian climber from the death zone at Mount Everest on May 18, 2023. In recent years, as death tolls have risen on the mountain, climbers and experts have also warned of the dangers of overcrowding. Nepal issued permits for a record 478 climbers for this season’s expeditions to Everest, according to the department’s data.

Persons: CNN — Gelje, CNN’s Anderson Cooper, “, ”, Gelje, –, ” Gelje, ” Ngima Tashi Sherpa, Bigyan Koirala, There’s, Yubaraj, ” Koirala Organizations: CNN, Reuters, sherpa, Everest, Nepal’s Tourism Department Locations: Mount Everest, Malaysia, Malaysian, Everest, Nepal, Pakistan

South Korean companies do not disclose the unit prices for their weapons, which are often sold with support vehicles and spare parts. That will include building South Korean arms on license in Poland, officials in Seoul and Warsaw said. "It may work for some countries at very, very low volume," he added of Polish-brokered South Korean weapons sales, discussing challenges the joint operation might face. The 2022 arms deal began with South Korean companies signing a framework agreement with the Polish government. Seoul has since approved at least some South Korean weapons components for use in Ukraine.

☆ Dollar Tree is considering locking up products to deter theft
▼ + stars: | 2023-05-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Dollar Tree faced higher "shrink" during the company's first quarter, executives said Thursday. Like many retailers, Dollar Tree is considering "defensive merchandising" or restricting product access. One of the steps Dollar Tree is considering is "defensive merchandising," a retail industry term for locking up merchandise and requiring customers to retrieve it with an employee's help. The chain also said its customers bought more groceries and other consumable goods, which generally are less profitable than other things Dollar Tree sells. Do you work or shop at a dollar store and have a story to share?

☆ UK climber Kenton Cool sets record for most Mount Everest summits by a non-Nepali
▼ + stars: | 2023-05-18 | by ( Lilit Marcus | ) edition.cnn.com time to read: +2 min

Kathmandu CNN —British mountaineer Kenton Cool has set a record for the most Mount Everest summits by a non-Nepali after reaching the top of the world’s highest mountain for the 17th time. According to a post on Cool’s Instagram account, the trio reached the top of Everest at 1:30 am British Summer Time, which is 6:15 am Nepal time. On Monday, 46-year-old Pasang Dawa Sherpa reached the mountain’s apex for the 26th time, tying his countryman Kami Rita Sherpa for the number of all-time ascents. “Unfortunately, when accidents do happen on the mountain, more often than not the tragedy tends to strike the Nepalese workers who are there supporting foreign climbers,” Ballinger told CNN. All we can do is fight and advocate for the increased regulation of the mountaineering industry in Nepal.”

☆ Taiwan's wind industry braves cross-strait risks in clean energy boom
▼ + stars: | 2023-05-10 | by ( Sarah Wu | ) www.reuters.com time to read: +8 min

With large swathes of Taiwan's territorial waters restricted due to defense, shipping and other uses, offshore wind developers will soon run out of space. It's a question of whether you want to pay the price," insurance broker Clive Lin told offshore wind developers in a packed lecture hall in Taipei. Political risk insurance is typically not covered in mainstream insurance policies, so developers have to buy it additionally. The risk of a military confrontation and its impact on Taiwan's wind farms are hard to quantify, analysts say. "In a kinetic conflict invasion, Taiwan's going to have so many other problems, offshore wind is going to be way down on the list," Cancian said.

☆ Party City is planning to close over 30 stores across the country — here's the full list
▼ + stars: | 2023-05-09 | by ( Avery Hartmans | Ben Tobin | ) www.businessinsider.com time to read: +5 min

Party City says it's closing over 30 stores after filing for Chapter 11 bankruptcy protection. Cartersville: Cartersville Crossing, 451 East Main St.IowaWaterloo: Crossroads Commons Shopping Center, 1415 Flammang Dr.IllinoisBradley: Bradley Commons, 2060 N. State Rte. 20Felch Street Shopping Center, 3050 Beeline Rd., Ste. L12East Hills Shopping Center, 3702 Frederick Ave., Ste. K2Five Points Shopping Center, 4101 Hwy.

☆ How asset managers see the investment outlook at Milken
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +2 min

[1/4] Edwin Conway Global Head, BlackRock Alternatives, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2023. REUTERS/Mike BlakeBEVERLY HILLS, May 1 (Reuters) - Big money managers gathered at the Milken Institute Global Conference, in Beverly Hills, California, on Monday to discuss the environment for investments amid higher interest rates, sticky inflation, banking turmoil and geopolitical tension. KAREN KARNIOL-TAMBOUR, CO-CIO AT BRIDGEWATER ASSOCIATES"The problem is that when you get paradigm shifts that really change the nature of the market environment, it takes a long time for that to get fully digested by investors." So fixed income long-short hedge fund managers feel that there's going to be very interesting distressed opportunities in eight, ten, twelve months." Reporting by Carolina Mandl and Svea Herbst-Bayliss, in Beverly Hills; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Why retail crime rings target cheap goods at Walmart and CVS and skip luxury stores
▼ + stars: | 2023-04-14 | by ( Ben Tobin | ) www.businessinsider.com time to read: +3 min

Only 11% of organized retail crime groups target luxury goods, per a recent NRF report. Items most targeted for organized retail crime include apparel and health and beauty products. In fact, luxury goods like jewelry and watches are rarely targeted by criminals. This is due to luxury items being sold in stores with enhanced security measures, the report said. Organized retail crime instead often targets more of the everyday goods available at stores like Walmart, CVS, and Target with less security protecting it.

☆ World-class ships and new supersonic jets mark the quiet rise of a new defense industry powerhouse in Asia
▼ + stars: | 2023-03-10 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

South Korea's defense industry has seen meteoric growth in recent years. 2023 is also shaping up to be a good year for South Korea's defense industry. South Korea's defense industry was originally tailored to meet the country's own needs, and Seoul assisted its growth with subsidies and other incentives. As South Korea's defense products increased in quality, so too did its exports. The South Korean defense industry's most anticipated product might be the KF-21 Boramae, a multi-role combat jet optimized for air-superiority missions.

☆ Meet the brothers building massive spacecraft to leverage SpaceX’s Starship
▼ + stars: | 2023-03-10 | by ( Michael Sheetz | ) www.cnbc.com time to read: +4 min

What we're finding is that, with the new launch capabilities of vehicles like Starship, there's actually an interesting opportunity to go the opposite direction," Karan Kunjur told CNBC. Los Angeles-based startup K2 Space, co-founded by CEO Karan Kunjur and CTO Neel Kunjur, is setting out to build satellite buses — the physical structure of a spacecraft that provides power, movement and more. A pair of brothers is aiming to challenge the way spacecraft are built, by going against the industry trend and designing massive satellites in a bet that towering rockets such as SpaceX's Starship are the way forward. K2 Space, a play on the brothers' surname and a nod to astronomer Nikolai Kardashev's scales of civilization, marks Karan and Neel's first venture together and fuses their previously divergent careers. For K2, the company is targeting prices that would be unheard of for satellite buses of these sizes.

SEOUL, March 8 (Reuters) - South Korea's government approved export licenses for Poland last year to provide Ukraine with Krab howitzers, which are built with South Korean components, a defence acquisition official in Seoul told Reuters on Wednesday. The comments are the first confirmation that South Korea officially acquiesced to at least indirectly providing weapons components to Ukraine for its war against Russia. Seoul officials have previously declined to comment on the Krabs, fuelling speculation over whether South Korea had formally agreed or was simply looking the other way. South Korean President Yoon Suk Yeol said at the time that South Korea, a U.S. ally, had not provided any weapons. Kim said Poland would need further South Korean permission to provide any of those new weapons to Ukraine.

☆ Party City is planning to close 22 stores after filing for bankruptcy — here's the full list
▼ + stars: | 2023-02-17 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

Party City is closing 22 stores after filing for Chapter 11 bankruptcy protection in January. Cartersville: Cartersville Crossing, 451 E Main St.IowaWaterloo: Crossroads Commons Shopping Center, 1415 Flammang Dr.IllinoisBradley: Bradley Commons, 2060 N State Rte. MichiganHolland: Felch Street Shopping Center, 3050 Beeline Rd., Ste. 20Felch Street Shopping Center, 3050 Beeline Rd., Ste. TexasCorpus Christi: Five Points Shopping Center, 4101 Hwy.

☆ Newmont's bid for Australian gold miner Newcrest 'makes a lot of sense,' says asset management firm
▼ + stars: | 2023-02-07 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNewmont's bid for Australian gold miner Newcrest 'makes a lot of sense,' says asset management firmGeorge Boubouras of K2 Asset Management says the deal makes a lot of sense from Newmont's perspective, and it would alleviate Newcrest's "capex burden."

☆ Norway to order 54 new army tanks from Germany
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +1 min

OSLO, Feb 3 (Reuters) - Norway will order 54 new German-made Leopard 2 tanks for its army from the Krauss-Maffei Wegmann Group, and will get an option to buy a further 18 tanks at a later time, the government said on Friday. "We ensure that we have the same tanks as our Nordic neighbours and many key NATO allies," Prime Minister Jonas Gahr Stoere told a news conference. The Nordic NATO member, which shares a 196 km (122 miles)Arctic border with Russia, had planned to choose either German-made Leopard 2 A7 tanks or the rival Korean-produced K2 Black Panther, made by Hyundai Rotem (064350.KS). Norway had originally planned to acquire 72 tanks, but in recent months discussed a scaled-down purchase after the country's chief of defence recommended spending more funds on helicopters, drones and long-range artillery. Reporting by Terje Solsvik, editing by Gwladys Fouche and Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Investor reaction to Adani market rout after short-seller report
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +4 min

The rout has sparked concern that the fallout could also affect, more broadly, confidence in India. GEORGE BOUBOURAS, HEAD OF RESEARCH AT K2 ASSET MANAGEMENT, MELBOURNE (UNDERWEIGHT ON INDIA)"The Adani effect works both ways given the market cap relative to index. "To attract more capital the Indian economy needs more FTAs (free-trade agreements) and more financial market reform - a long process." Given there has not been any significant change for now for the market valuation, the market remains overall expensive in our view." Adani is a known levered name in India, so I would think most participants should not associate the same issues for other Indian assets."

☆ Abuses Proliferate in Police Squads Like Memphis's Scorpion Unit
▼ + stars: | 2023-01-28 | by ( Katherine Long | Jack Newsham | ) www.businessinsider.com time to read: +27 min

Street Crime Unit. Jon Naso/NY Daily News Archive via Getty ImagesMemphis police chief Davis also has prior experience with special street crime units. Street crime squads are popular among politicians who say only aggressive policing will reduce violent crime. In the late 1990s, the Street Crime Unit tripled in size, amid a panic over a rising number of homicides. In a city grappling with violent crime, authorities touted the Street Crime Unit as a bright spot.

☆ The 3 best tanks on earth
▼ + stars: | 2023-01-15 | by ( Brent M. Eastwood | ) www.businessinsider.com time to read: +6 min

The three best tanks on Earth, let the debate begin: Are tanks still useful in the 21st century? I can offer three tanks that deserve clear recognition as the three best tanks on Earth, although I will admit, there is room for debate. Here are all of the reasons why:3 best tanks on earth: Meet the M1 AbramsAn M1A2 Abrams fires a sabot round. 3 best tanks on earth: Meet the K2 Black PantherA South Korean K-2 tank in June 2012. 3 best tanks on earth: the German LeopardGerman army Leopard 2 tanks in Munster in October 2015.

☆ What it's like to climb up and ski down Makalu, the world's 5th-highest mountain
▼ + stars: | 2022-12-23 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +10 min

Almost 28,000 feet, Makalu is just 12 miles away from Mount Everest — a mountain Ballinger has climbed several times, along with K2, the world's second-tallest mountain. But at Makalu, Ballinger wasn't there only to climb — he was making his third attempt to be the first person to ski down from the summit of the world's fifth-tallest mountain. Ballinger spent a year preparing to ski Makalu"Once I decided I wanted to try, I spent a year at home of focus, dedicated training, working towards being ready to try to ski Makalu," Ballinger said. From left, Dorji Sonam Sherpa, Sherpa Sirdar (lead sherpa), Ballinger, Phu Rita Sherpa. At base camp, Ballinger and his fellow climbers are fed by a Nepali chef who prepares fresh meat, vegetables, and fruit.

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