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☆ 2 Russian Women Put on a Play. Then the State Came for Them.
▼ + stars: | 2024-06-25 | by ( Valerie Hopkins | ) www.nytimes.com time to read: 1 min

They wrote and staged their play as an indictment of terrorism, examining the deception and depravity of violent extremists and the people whose lives they ruin. But now the two women behind the production of “Finist the Brave Falcon” are standing trial in a Moscow courtroom, charged with justifying the kind of acts they meant to condemn. The director, Yevgenia Berkovich, 39, and the playwright, Svetlana Petriychuk, 44, two highly decorated fixtures of contemporary Russian theater, have been in custody for more than a year. They face up to seven years in prison if convicted. One of their lawyers and people in the Russian cultural community contend that the prosecution is one of the clearest examples of the accelerating crackdown on freedom of expression since Russia attacked Ukraine in February 2022.

Persons: Yevgenia Berkovich, Svetlana Petriychuk Locations: Moscow, Russian, Russia, Ukraine

☆ This stock is 'one of the cheapest ways' to play India's infrastructure boom, fund manager says
▼ + stars: | 2024-06-25 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Causeway Capital Management's Arjun Jayaraman is bullish on one pure-play infrastructure stock: REC , a company which issues loans to power utilities and to other infrastructure. "It is one of the cheapest ways to play infrastructure," the portfolio manager told CNBC Pro Talks last week. Jayaraman manages Causeway's Emerging Markets Fund and International Opportunities Fund . Though he called the Indian market a "very strong growth story," he said he would focus on its small- to mid-cap segment. "Since India is a strong secular growth market, we would say the mid and small-cap [market] is the place to be.

Persons: Arjun Jayaraman, Jayaraman, Narendra Modi Organizations: Investments, CNBC, International, REC, Markets Fund, Fund Locations: India, bullish

Special Counsel Jack Smith delivers remarks on a recently unsealed indictment including four felony counts against former President Donald Trump on August 1, 2023 in Washington, DC. Drew Angerer/Getty ImagesAttorneys for Donald Trump will continue their legal efforts to throw off special counsel Jack Smith and the classified documents case against the former president in Florida on Monday. Trump’s attorneys will battle prosecutors in court on the second part of Trump’s argument that Smith’s appointment was illegitimate, focusing on how he’s being funded. On Friday, prosecutors, defense attorneys and third parties fought over whether Smith was legitimately appointed as special counsel, an argument district Judge Aileen Cannon seemed skeptical of during the hearing. “President Biden’s DOJ is paying for this politically motivated prosecution of Biden’s chief political rival ‘off the books,’ without accountability or authorization,” Trump’s attorneys argued in their filing earlier this year.

Persons: Jack Smith, Donald Trump, Drew Angerer, Trump’s, Smith, Aileen Cannon, ‘, ”, “, it’s, ’ Organizations: Getty, Prosecutors Locations: Washington ,, Florida, United States

☆ CNN reveals America’s Best Towns to Visit in 2024
▼ + stars: | 2024-06-24 | by ( Cnn Travel | ) edition.cnn.com time to read: +9 min

Video Ad Feedback See how this town gets the most fun out of one of the biggest lakes in the world 02:00 - Source: CNN America's Best Towns to Visit 2024 10 videos Video Ad Feedback See how this town gets the most fun out of one of the biggest lakes in the world 02:00 Now playing - Source: CNN Video Ad Feedback See why Dolly Parton — and the insects she sang about — are so important to this town 01:42 Now playing - Source: CNN Video Ad Feedback Is this the most family friendly town in the country? A CNN reporter takes his daughter to find out 01:57 Now playing - Source: CNN Video Ad Feedback Why this town is one of the country’s most underrated music meccas 02:02 Now playing - Source: CNN Video Ad Feedback Why this first-of-its-kind city has some of the most amazing skies you’ll ever see 02:00 Now playing - Source: CNN Video Ad Feedback Every room in this hotel has a wildly different theme. It’s a feast for the eyes 02:02 Now playing - Source: CNN Video Ad Feedback From sea to sandwich: in search of the best lobster roll ever 02:00 Now playing - Source: CNN Video Ad Feedback Here’s where you can snowshoe, hike an island, blow glass and shuck oysters – all in the same day 02:00 Now playing - Source: CNN Video Ad Feedback How to visit Venice, Italy — without leaving the US 02:01 Now playing - Source: CNN Video Ad Feedback Museums, murals and wine: Why Richmond is America’s best town 02:02 Now playing - Source: CNN See More VideosCNN —You’ve elbowed into the Empire State Building, admired the architecture along the Chicago River and huffed and puffed up and down the streets of San Francisco. At CNN Travel, we tapped our network of contributors for nominations for our inaugural list of America’s Best Towns to Visit. High scores: Dark skies, outdoor activities, scenery, retro vibeSunny days and starry nights are big draws in this high-elevation city.

Persons: Dolly Parton —, Frederik Meijer, Ai Weiwei, Peter McDaniel, Michigan’s, James Beard, You’ll, Dale Chihuly, Virginia –, ” –, it’s, Marnie Hunter, Forrest Brown Organizations: CNN, Empire, CNN Travel, Lake Superior, University of Tennessee, Nashville, Sculpture, Beer, San, Lowell Observatory, Golden State, San Luis Obispo, SLO, Puget Sound, Rainier, Tacoma, of, Rhode Island School of Design, Richmond, Richmond Folk Festival Locations: Venice, Italy, Richmond, Chicago, San Francisco . Big, United States, downtowns, Lakes, Duluth, Amity, Knoxville, Tennessee, Memphis, Grand Rapids, Beer City, Grand, Macon, Flagstaff, San Francisco Peaks, California, Southern California, Golden, San Luis, Puyallup, Virginia

Tensions between Israel and Lebanon have risen sharply since the October 7 Hamas attack on Israel and the ensuing military campaign by Israel in Gaza. The Iran-backed militant group Hezbollah has been firing missiles, mortars and drones into Israel, and Israel has returned that fire. Tens of thousands of people on both sides of the mountainous border have fled as concerns intensify about the possible outbreak of another full-fledged war. On the Lebanese side, residents of Shia-majority towns like Kafr Kila, Adaisa, Aita Al-Shaab and Aitaroun have almost all left. Yet, more than two decades later, some residents still cling to their ancient town and vow not to leave.

Persons: Aita Al, Israel, ” Edouard Achy, ” Organizations: Hezbollah, South Lebanese Army, Israel Locations: Israel, Lebanon, Gaza, The Iran

Washington CNN —American officials are hoping to gain a better understanding of Israel’s war plans in meetings this week with the country’s defense minister, who arrived in Washington as the rift widened between the Biden administration and Prime Minister Benjamin Netanyahu. “We will not end the war until we return all of our hostages – 120 hostages, the living and the deceased. Netanyahu said that once the “intense phase” of the Gaza conflict is over Israel will continue “mowing the grass” in Gaza, which US officials oppose. But Netanyahu ignored the demand from his defense minister, refusing to make such a public statement. And former Defense Minister Benny Gantz, who resigned from a unity government with Netanyahu two weeks ago, accused Israel’s longest-serving leader of putting political considerations ahead of a post-war strategy.

Persons: Biden, Benjamin Netanyahu, Yoav Gallant, Netanyahu, ”, —, that’s, Matt Miller, Gallant, Bill Burns, Amos Hochstein, ” Gallant, Benny Gantz, Israel’s, Israel, Lloyd Austin, Antony Blinken, Jake Sullivan, Miller, “ vexing, “ Organizations: Washington CNN —, Biden, CIA, Defense, National, State Department, White, Washington Locations: Washington, Gaza, Israel, United States, ”, Lebanon

☆ Leila de Lima: Philippine court clears fierce Duterte critic of drugs charges after long legal battle
▼ + stars: | 2024-06-24 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +3 min

The charges stemmed from allegations by Duterte that De Lima had received payoffs from convicted drug gangs to fund her 2016 senatorial bid. Speaking to reporters outside the court, De Lima said Duterte would be held responsible for “sins committed” against Filipinos. Jam Sta Rosa/AFP/Getty ImagesDuring his tenure as president, Duterte repeatedly said the killings of drug suspects are lawful if police are acting in self defense. In July last year, the International Criminal Court (ICC) rejected an appeal by the Philippine government to block an investigation by prosecutors into Duterte’s drug war. The Philippines was formerly a signatory to the ICC but Duterte canceled the country’s membership after the court began probing his drug war.

Persons: Rodrigo Duterte’s, Leila De Lima, Duterte, De Lima, De, “ Leila, “, ”, Leila de Lima, Sta Rosa, Ferdinand Marcos Jr, pullout Organizations: CNN, PTV, ” Former, Criminal Court, ICC, Hague, Duterte Locations: Muntinlupa, ” Former Philippine, AFP, Davao City, Philippine, Philippines

☆ Hooters closes dozens of restaurants
▼ + stars: | 2024-06-24 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Hooters is the latest chain to close dozens of locations across the United States, blaming tough economic challenges including rising food and labor costs. “Like many restaurants under pressure from current market conditions, Hooters has made the difficult decision to close a select number of underperforming stores,” a spokesperson told CNN. In that time prices ticked up 0.2% at limited service spots, which include fast casual and fast food joints. The increases, particularly in fast food prices, have caused customers to pull back on spending and complain online, eroding the sector’s reputation for affordability. It’s not just Hooters feeling the financial brunt from cash-conscious customers: Applebee’s, TGI Fridays, Boston Market, California Pizza Kitchen and bankrupt Red Lobster have all recently closed restaurants.

Persons: Danielle Wiener, Bronner Organizations: New, New York CNN, Hooters, CNN, Bureau of Labor Statistics, Boston Locations: New York, United States, Florida , Kentucky, Rhode Island , Texas, Virginia, Boston Market, California

☆ The market is in the midst of a summer rally, says Bank of America's Stephen Suttmeier
▼ + stars: | 2024-06-24 | 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 EmailThe market is in the midst of a summer rally, says Bank of America's Stephen SuttmeierStephen Suttmeier, BofA Securities chief equity technical strategist, joins 'Squawk Box' to discuss the latest market trends, what he's watching in the charts, and more.

Persons: America's Stephen Suttmeier Stephen Suttmeier Organizations: America's, BofA Securities

☆ Courts halt parts of Biden’s student loan repayment plan
▼ + stars: | 2024-06-24 | by ( Katie Lobosco | ) edition.cnn.com time to read: +1 min

Two lawsuits filed by Republican-led states argue that the Biden administration overstepped its authority when it implemented the SAVE (Saving on a Valuable Education) repayment plan. Two parts of the SAVE plan will be on pause until the cases are fully litigated. The Biden administration cannot cancel any more federal student debt for borrowers enrolled in the SAVE plan. Under the plan, borrowers qualify for debt forgiveness once they make at least 10 years of payments. The Biden administration will also be blocked from implementing further provisions of the SAVE plan.

Persons: Biden Organizations: Washington CNN, Republican, SAVE, of Education Locations: Kansas, Missouri

☆ European regulators accuse Apple of breaching new rules with its App Store
▼ + stars: | 2024-06-24 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

The European Commission has accused Apple of stifling competition with its App Store policies. Regulators say Apple is in breach of new tech rules by restricting alternative app promotions. AdvertisementThe European Commission has accused Apple of stifling competition with its App Store. The European regulators said Apple was in breach of new tech rules, known as the Digital Markets Act (DMA), as the company prevents app developers from steering customers to App Store alternatives. Under the European rules, developers should be able to freely inform customers of cheaper purchasing options and steer them toward the offers.

Persons: Apple, — Organizations: European, European Commission, Apple, Service, Digital Markets, Business

How to watch Brazil vs. Costa Rica in the USBrazil vs. Costa Rica will air on Fox Sports 1 (FS1) on Monday at 9 p.m. Check price at FuboHow to watch Brazil vs. Costa Rica in CanadaBrazil vs. Costa Rica will be available to watch through TSN in Canada. How to watch Brazil vs. Costa Rica in the UKIn the UK, Brazil vs. Costa Rica will stream on Premier Sports, where subscriptions start at £10.99 a month. How to watch Brazil vs. Costa Rica in AustraliaBrazil vs. Costa Rice will live stream on Optus Sport in Australia. How to watch Brazil vs. Costa Rica in BrazilThe Brazil vs. Costa Rica game will live stream on Globoplay in Brazil.

Persons: We've, Costa Rice, VPNs, ExpressVPN Organizations: Business, America, Copa America, Peru, Concacaf, Fox Sports, Fox, TSN, Premier Sports, Optus Sport Locations: Brazil, Costa Rica, Argentina, Uruguay, America, Canada Brazil, Canada, Australia Brazil, Australia

☆ UBS says renewable energy can meet 70% of electricity demand growth — these stocks benefit
▼ + stars: | 2024-06-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The growing electricity demand from corporate America, particularly Big Tech, and the retirement of coal plants across the U.S. are creating a major opportunity for renewable energy, according to UBS. UBS sees solar and wind supplying 40% and 30% of the power demand, respectively, while natural gas will meet the remaining 30%. At the same time, "there is a straight line of direct incremental demand and financial support for renewables as corporate electricity demand increases through their 100% clean energy or 100% renewable commitments," the analysts said. Overall, solar will grow to 12.5% of electricity generation by 2030, up from less than 6% in 2023, according to UBS estimates. "There is likely a substantial market opportunity to provide reliable electricity generation and direct infrastructure for data centers," the analysts said.

Persons: Jon Windham Organizations: Big Tech, UBS, U.S, Microsoft, Google, Amazon, Companies, Nike, Pepsi, Starbucks, Meta, Energy, Technologies Locations: America, U.S

☆ How Much Is the Health of Biden and Trump Our Business? - The New York Times
▼ + stars: | 2024-06-24 | by ( Daniela J. Lamas | ) www.nytimes.com time to read: +1 min

Among the most fraught questions about this election is the health of the aging candidates themselves. President Biden is 81 and former President Donald Trump is 78; the major presidential parties have never before put forth candidates who are as old. Both men have been seen as showing signs of cognitive decline, leading to calls for greater disclosure about the health of our presidential candidates. It is natural to assume that physicians might have a better understanding than other voters of how healthy either Mr. Trump or Mr. Biden is. But they are even more pressing today, as social media amplifies questions about the health and fitness of public officials.

Persons: Biden, Donald Trump, Trump, it’s, Franklin Roosevelt, John Fetterman of, Trump’s Locations: John Fetterman of Pennsylvania

☆ Zelensky Removes a Top General Amid Criticism of Excessive Casualties
▼ + stars: | 2024-06-24 | by ( Marc Santora | ) www.nytimes.com time to read: +1 min

President Volodymyr Zelensky of Ukraine removed one of his top generals from his post on Monday amid public criticism that the commander’s decisions had led to excessive casualties. The dismissal of the general, Yurii Sodol, as commander of the Joint Forces of the Armed Forces, was a clear indication that the discord that had rankled the army since Mr. Zelensky replaced his commanding general, Valery Zaluzhny, with Gen. Oleksandr Syrsky in February, continued to threaten military cohesion. Mr. Zelensky announced that he was replacing General Sodol with Brig. Gen. Andrii Hnatov. General Sodol was appointed by General Syrsky as part of a broader shake-up in February, and Mr. Zelensky did not say why he had dismissed the commander or what position he would now hold.

Persons: Volodymyr Zelensky, Yurii, Zelensky, Valery Zaluzhny, Oleksandr Syrsky, Sodol, Andrii Hnatov, General Sodol, General Syrsky, Bohdan Krotevych, Ukrainian National Guard — Organizations: Joint Forces of, Armed Forces, Azov, Ukrainian National Guard, State Bureau of Locations: Ukraine, Brig, Gen

☆ Death Toll in Attack in Southern Russia Rises to 19, Officials Say
▼ + stars: | 2024-06-24 | by ( Ivan Nechepurenko | Anatoly Kurmanaev | ) www.nytimes.com time to read: 1 min

At least 15 law enforcement officers and four civilians were killed in two seemingly coordinated attacks by gunmen in Russia’s southern republic of Dagestan, Russian investigators said on Monday. Wielding rifles and Molotov cocktails, the attackers assaulted synagogues and Orthodox churches on Sunday night in two major cities of Dagestan, a predominantly Muslim region on the Caspian Sea. One of the civilians killed was Nikolai Kotelnikov, a priest in the city of Derbent. For hours, the gunmen were on the loose, engaging in shooting sprees with members of the law enforcement, according to statements from the region’s interior ministry. Five attackers were eventually killed, local officials said.

Persons: Molotov, Nikolai Kotelnikov Locations: Russia’s, Dagestan, Derbent

☆ Why Trump is suddenly talking up Biden after months of slamming his cognitive capacity
▼ + stars: | 2024-06-24 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

Doug Burgum, a possible Trump vice presidential pick, tried to reset the balance on CNN’s “State of the Union” on Sunday. Fewer voters worry about the cognitive health of Trump, who is only three years younger at 78. “He beat Paul Ryan,” Trump said, referring to the vice presidential debate in 2012 when Biden dispatched Republican nominee Mitt Romney’s running mate. There is growing speculation about Trump’s approach after his hyper-aggressive and angry performance in the first debate against Biden in 2020 backfired. Unlike Trump, who spent the weekend creating headlines, Biden hunkered down at the presidential retreat in Catoctin Mountain Park north of Washington.

Persons: Joe Biden, ”, Donald Trump, Trump, George W, Bush, John Kerry, Roman rhetorician Cicero, Doug Burgum, He’s, Nixon, ” Trump, Biden, Roe, “, Michael Tyler, –, lambasting Biden, David “, he’d, Paul Ryan, Mitt Romney’s, “ I’m, ” Burgum, Kaitlan Collins, we’ve, We’ve, Karoline Leavitt, David Axelrod, …, we’d, ’, won’t, Florida Sen, Marco Rubio, Kristi Noem, Joe Biden’s, Ron Klain, Mike Donilon, Bruce Reed, Anita Dunn, Steve Ricchetti, Bob Bauer, Harris Organizations: CNN, Democratic, Atlanta . North Dakota Gov, Trump, Biden, David, Republican, “, Union, South Dakota Gov, NBC’s, White House, Obama White House, Team Biden Locations: Atlanta ., “ State, New York, Maryland, Washington ,, Philadelphia, State, Wisconsin, Italy, Florida, Catoctin, Washington, Atlanta

☆ AI is shaping the fate of software engineers, but there is a new way to succeed
▼ + stars: | 2024-06-24 | by ( Rachel Curry | ) www.cnbc.com time to read: +2 min

So far in the artificial intelligence hype cycle, software engineers are still operating at full force, with demand for skilled engineers expected to grow by 25% in the decade ending in 2032, according to the U.S. Bureau of Labor Statistics. But is the hyper-growth of AI as an engineering solution throwing a wrench in that expectation? This is a form of computational thinking, or computer-like thinking — one skill that will remain prevalent amid AI-enabled software engineering, Schuerman said. Talented engineers, Tang said, have a higher level of problem-solving, logic and reasoning skills. David Hsu, CEO and founder of app development platform Retool, believes AI in the software context is a propelling factor.

Persons: Jensen Huang, Don Schuerman, Schuerman, Winston Tang, Tang, David Hsu, Hsu Organizations: Nvidia, World, U.S . Bureau of Labor Statistics, Microsoft, Google Locations: Dubai

☆ Ukraine aims to deploy squads of up to 20 sea drones to do the job of a warship, commander says
▼ + stars: | 2024-06-24 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +1 min

Without a conventional navy, Ukraine has looked to innovative ways to counter Russia's sea power. Ukraine's sea drones will soon work as squads to mimic a warship's capabilities, a commander said. Sea drones have taken out a chunk of Russia's Black Sea Fleet, and damaged the Kerch Bridge. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUkraine's sea drones are being marshaled into squads that can replicate the abilities of a single warship, a Ukrainian commander said.

Persons: —, Brig Gen Ivan Lukashevych Organizations: Service, Wall Street, Business Locations: Ukraine, Kerch, Ukrainian

☆ Bank of America says Broadcom's sales growth to double because of AI, raises price target even higher
▼ + stars: | 2024-06-24 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Bank of America sees more room for Broadcom to run, with its sales growth likely to double as a result of the artificial intelligence craze. Analyst Vivek Arya hiked his price target by $150 to $2,150 while reiterating his buy rating and top-pick designation. Arya's new target implies that shares of the semiconductor stock can rally around 30% from last week's closing level. A key part of Arya's call is sales growth approximately doubling to a compound annual rate of around 13% between the 2024 and 2026 fiscal years. This will be propelled by a 24% compound annual growth rate in the AI-connected silicon and VMWare businesses, he said.

Persons: Vivek Arya, Arya, that's Organizations: of America, Broadcom, VMWare, iShares Semiconductor, Nasdaq

☆ I explored the ruins of an abandoned zoo on the coast of Florida, and it was completely overrun by nature
▼ + stars: | 2024-06-24 | by ( Joey Hadden | ) www.businessinsider.com time to read: +1 min

In 2021, I explored the ruins of a Miami zoo that was abandoned after hurricanes ravaged the area. Nature has taken over Crandon Park Zoo since then. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOn a corner of a South Florida beach, animals were once confined at the Crandon Park Zoo, according to the Miami Herald. In 1991, the zoo ruins reopened as gardens with the goal "not to destroy everything," Kevin Asher, a planner for the county, told the Miami Herald.

Persons: —, Kevin Asher Organizations: Service, Miami Herald, CBS Miami, Business Locations: Miami, Crandon, South Florida

☆ Judges Block Parts of Biden’s Student Loan Repayment Plan
▼ + stars: | 2024-06-24 | by ( Tara Siegel Bernard | Zach Montague | ) www.nytimes.com time to read: +1 min

Two federal judges in Kansas and Missouri temporarily blocked pieces of the Biden administration’s new student loan repayment plan on Monday in rulings that will have implications for millions of federal borrowers. Borrowers enrolled in the income-driven repayment plan, known as SAVE, are expected to continue to make payments. The separate preliminary injunctions on Monday are tied to lawsuits filed this year by two groups of Republican-led states seeking to upend the SAVE program, a centerpiece of President Biden’s agenda to provide relief to student borrowers. Many of the program’s challengers are the same ones that filed suit against Mr. Biden’s $400 million debt-cancellation plan, which the Supreme Court struck down last June. “It’s a pretty cynical ploy in an election year to stop the current president from being able to lower prices for working and middle-class Americans.”

Persons: Biden’s, “, Biden, ”, Abby Shafroth Organizations: Biden, Republican, National Consumer Law Locations: Kansas, Missouri

☆ South Korea plant fire kills 22 people after lithium battery combustion
▼ + stars: | 2024-06-24 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Emergency vehicles are parked next to the site of a fire at a lithium battery factory owned by South Korean battery maker Aricell in Hwaseong on June 24, 2024. At least twenty-two people died after lithium battery combustion ignited a massive fire in a South Korean factory, local officials said, according to NBC News. The blaze erupted at the Aricell battery factory in Hwaseong, a city south of Seoul, around 10:31 a.m. local time, officials said. The plant housed an estimated 35,000 batteries, NBC said. The factory was a reinforced concrete three-story building that sprawled over roughly 2,300 square meters and housed an estimated 35,000 batteries, according to South Korean news agency Yonhap.

Persons: Kim Jin, Young, Lee Sang, Yoon Suk, yeol Organizations: South, NBC News, Reuters, Authorities, CNBC, NBC, Hwasong Fire Department, Associated Press, Fire Agency, Korea's, Central Disaster, Headquarters, South Korean Ministry of Public Administration, Security Locations: South Korean, Hwaseong, Seoul, South

☆ Southeast Asia is a top choice for firms diversifying supply chains amid U.S.-China tensions
▼ + stars: | 2024-06-24 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +5 min

Skyline, Ho Chi Minh City, Vietnam John Harper | Photodisc | Getty ImagesSoutheast Asia has emerged as a top choice for firms looking to diversify production away from China, including Chinese companies, amid escalating tensions between Washington and Beijing. "Southeast Asia is well-placed to benefit significantly from the China+1 phenomenon as both foreign and Chinese companies diversify their supply chains and operations," said Kuo-Yi Lim, co-founder and managing partner of Southeast Asian venture capital firm Monk's Hill Ventures. "The ASEAN-6 region has benefited from a diversification of global and regional supply chain as well as the adoption of 'China+1' strategies. MalaysiaMalaysia has seen semiconductor firms including Intel, GlobalFoundries and Infineon setting up or expanding operations in the country over the last few years amid U.S.-China tensions. Chinese electric vehicle maker BYD plans to start commercial production of EVs in Indonesia in 2026, according to local reports.

Persons: Vietnam John Harper, Kuo, Yi Lim, Lim, Yinglan Tan, Kai Wei Ang, CNBC's, It's, Ang, Anders C, Johansson, –, Sokon – Organizations: Photodisc, Getty, Monk's Hill Ventures, ASEAN, Hong Kong SAR, Apple, Ventures Partners, Samsung, BofA Securities, Intel, GlobalFoundries, Infineon, U.S, Monk's Hill Ventures . Industry, Malaysia that's, Stockholm China Economic Research, Stockholm School of Economics, Chery, Singapore Locations: Chi Minh City, Vietnam, Asia, China, Washington, Beijing, Monk's, Indonesia, Malaysia, Philippines, Thailand, Singapore, U.S, Japan, European Union, China & Hong Kong, Hong Kong, Vietnam Vietnam, ASEAN, Malaysia Malaysia, Stockholm China, EVs

☆ Less than 40% of renters earn enough money to afford the median US apartment
▼ + stars: | 2024-06-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

The median US apartment is unaffordable for 61% of renters, according to a new Redfin analysis. That's due to the climb in rent prices during the pandemic, with the median rent surging 23%. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRents in the US are so expensive that less than half of renters can afford the typical US apartment, according to a new analysis from Redfin. That means just 39% of renters can afford to pay the median monthly rent of $1,653, assuming that renters spend 30% or less of their income on housing a month.

Persons: Redfin, — Organizations: Service, Business

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