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☆ 31-year-old mom started her CBD business from home in Hawaii—3 years later, it brings in $100,000 annually
▼ + stars: | 2023-05-31 | by ( Morgan Smith | ) www.cnbc.com time to read: +7 min

A friend recommended she try CBD oil, which is derived from hemp plants, the non-psychoactive cousin of marijuana. Young continued to take CBD oil on a regular basis and welcomed her second daughter, Ho'olehua, in 2019. In May 2020, Young was ready to sell her first product, a CBD oil that blends hemp flower and coconut oil, online. Now, 'Āina Organics is sold in 25 stores, in both California and Hawaii. After deducting the operating costs to maintain the business, Āina Organics's profit stands at about $50,000, according to tax documents reviewed by CNBC Make It.

Persons: Grace Young, Young, Keith Andrade, Ka'auwai, Andrade, Ho'olehua, Meleana, Alexandra Masihy, daydreaming, they'd Organizations: Omao Labs, USDA, Hawaii, Young, CNBC Locations: Kauai, Hawaii, California

☆ Sunak Still Can’t Put the Johnson and Truss Debacles Behind Him
▼ + stars: | 2023-05-31 | by ( Mark Landler | ) www.nytimes.com time to read: +1 min

LONDON — From the moment Prime Minister Rishi Sunak of Britain took occupancy of 10 Downing Street last October, he has been haunted by his predecessors: Boris Johnson, defenestrated after serial scandals, and Liz Truss, deposed after an ill-fated foray into trickle-down economics. On Thursday afternoon, Mr. Sunak’s government faces a deadline to turn over Mr. Johnson’s Covid-era text messages, diaries and notebooks to a committee investigating Britain’s handling of the pandemic. It is the latest chapter in what seems like a never-ending reckoning with Mr. Johnson’s messy tenure. Yet for all the headlines that Mr. Johnson’s misadventures have commanded in recent weeks — including new allegations of flouting Covid lockdown rules — it is the ghost of Mr. Sunak’s short-lived predecessor, Ms. Truss, that economists say should keep him up at night. Yields on British government bonds soared last week to nearly the levels that brought down Ms. Truss after only 45 days in office.

Persons: Rishi Sunak, Boris Johnson, defenestrated, Liz Truss, Johnson’s, Sunak’s, Sunak Locations: Britain

☆ China's disappointing rebound could bring in more stimulus, economists say
▼ + stars: | 2023-05-30 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

Photographer: Qilai Shen/Bloomberg via Getty Images Qilai Shen | Bloomberg | Getty ImagesChina's much-vaunted economic rebound after its emergence from strict zero-Covid lockdown measures has yet to fully materialize, prompting some economists to speculate that further fiscal stimulus or monetary policy easing could be coming down the pipeline. Data from China's Bureau of Statistics shows that 6 million of the 96 million 16 to 24-year-olds in the urban labor force are currently unemployed. watch nowIn a research note Monday, Capital Economics assessed that, despite losing some momentum, China's economic recovery was still progressing at the start of the second quarter, with scope for further service sector-led improvement. But we do not expect policy rate cut or major fiscal stimulus, barring a precipitous fall in exports in the coming months." Any consensus among economists as to the trajectory of fiscal and monetary policy seems to be unraveling in light of the tenuous recovery.

May 31 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. Asian market focus on Wednesday turns to Chinese purchasing managers index figures, which will give the first insight into factory and service sector activity in the world's second largest economy in May. Asian markets on Wednesday might also get some relief from the dollar's slip on Tuesday in line with U.S. bond yields. China's PMI figures for May are expected to show another contraction in manufacturing activity. Service sector activity has been expanding since January, however, and it will be the extent to which that accelerates or slows that markets will be most attuned to.

Persons: Jamie McGeever, China PMIs Organizations: Congress, Relief, Nasdaq, Treasury, PMI, Service, Thomson, Reuters Locations: Washington, Hong Kong, China, Australia, Japan

May 29 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. It could be a double-edged sword for Asian markets, if not on Monday than in the days and weeks ahead. The economy's post-pandemic lockdown recovery has been weaker than expected, to put it mildly, and inflationary pressures are evaporating. Japanese equity markets open on Monday near the 33-year highs reached last week, while Chinese stocks are languishing near six-month lows. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Out the Door in Under 13 Minutes: The Ultimate Women’s Get-Dressed-Quick Guide
▼ + stars: | 2023-05-27 | by ( Faran Krentcil | Photographs F. Martin Ramin The Wall Street Journal | ) www.wsj.com time to read: 1 min

I AM NOT a morning person—in fact, I’m barely an afternoon one. Having an internal clock with the same operating hours as a Berlin nightclub was fine during lockdown when I could roll onto a 9 a.m. Zoom in my pajama top that, on a laptop screen, looked enough like a blouse to fool colleagues. But 100% remote work has become a more distant memory than “Tiger King,” and recently, my work obligations have required me to schedule in-person morning meetings and interviews and to arrive suitably attired.

☆ Under Xi Jinping, China's military has become an untouchable nationalist symbol
▼ + stars: | 2023-05-26 | by ( Nectar Gan | ) edition.cnn.com time to read: +11 min

Yue’s alleged transgression: “uglifying” and “insulting” China’s military, the People’s Liberation Army (PLA). Under Xi, China passed a law in 2018 to ban the slander of national “heroes and martyrs,” a crime punishable by up to three years in prison. To outsiders, it may appear puzzling that China’s military, the largest and one of the most powerful in the world, would be so easily offended by a seemingly tame joke. Xi has staked his legitimacy on returning China to its former greatness, and a strong and powerful military plays a key role in driving that nationalist agenda. He has also ramped up China’s military posturing, sending fighter jets and warships to the Taiwan Strait and around the disputed islands with Japan.

☆ Modi inaugurates controversial new parliament building in India
▼ + stars: | 2023-05-26 | by ( Rhea Mogul | ) edition.cnn.com time to read: +9 min

A cyclist rides past the construction site for the new Parliament building in January 2021. Controversial projectThe new triangular parliament building is part of a major overhaul of New Delhi’s colonial-era administrative center dubbed the Central Vista Redevelopment Project. The rush was widely thought to have resulted from hopes of opening the parliament building by the 75th anniversary of Indian independence in August 2022. Capacity is also limited — a concern magnified by growing calls to increase the number of MPs sitting in India’s parliament. A photo of the parliament's interior taken during a visit to the building by Modi earlier this year.

PREVIEWBirol pointed to a “powerful alignment of major factors,” driving clean-energy spending higher, while spending on oil and other fossil fuels remains subdued. The Covid-19 pandemic appears to have marked a turning point for global energy spending, the IEA’s data shows. While clean-energy spending has boomed, spending on fossil fuels has been tepid. Investments in clean energy and fossil fuels were largely neck-and-neck in the years leading up to the pandemic, but have diverged sharply since. “If there is not enough investment globally to reduce the oil demand growth and there is no investment at the same time [in] upstream oil we may see further volatility in global oil prices,” Birol said.

☆ American Eagle says that no one is wearing bras anymore
▼ + stars: | 2023-05-25 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

People aren't wearing bras anymore, according to American Eagle's executive creative director. As a result, American Eagle and its Aerie brand are refocusing their assortment. At least, that's what execs at American Eagle say. "Girls are wearing bra tops out," Jennifer Foyle, president and executive creative director of American Eagle and its sister brand Aerie, told investors at the company's earnings call Wednesday. Aerie, which has nearly 300 standalone stores, made up around a third of American Eagle Outfitters' sales in the first quarter.

☆ Florida Gov. Ron DeSantis joins presidential race, taking on Trump for GOP nomination
▼ + stars: | 2023-05-24 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Republican gubernatorial candidate for Florida Ron DeSantis with his wife Casey DeSantis speaks to supporters during an election night watch party at the Convention Center in Tampa, Florida, on November 8, 2022. Ron DeSantis announced the launch of his 2024 presidential campaign on Wednesday, setting the Republican contender on a collision course with former President Donald Trump in the race for the GOP nomination. Musk then started a new Twitter Spaces where DeSantis announced his presidential bid. Trump and his allies have assailed DeSantis' record, his political abilities and even his personality, while amplifying negative news about the governor. That result showed Trump extending his gains and DeSantis losing ground from a previous Quinnipiac survey in late March.

Persons: Florida Ron DeSantis, Casey DeSantis, Ron DeSantis, Donald Trump, DeSantis, Elon Musk, David Sacks, Musk, Bryan Griffin, Trump, Read Organizations: Florida, Convention, Florida Gov, GOP, Fox News, Democratic, Trump, Trump PAC, Quinnipiac University, Republican Locations: Tampa , Florida, DeSantis, Quinnipiac

☆ Not just Disney: DeSantis brings history of business battles to the presidential campaign
▼ + stars: | 2023-05-24 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +8 min

Ron DeSantis officially launched his presidential campaign Wednesday, putting his blend of pro-business conservativism and culture-war populism to the test at the national level. In the most recent legislative session, DeSantis signed a bill that stopped union dues from being automatically deducted from public employees' paychecks. Ron DeSantis, a critic of environmentally sensitive investing, didn't succeed in protecting his constituents from the ravages of Hurricane Ian, which may have been intensified by global warming. DeSantis signed a bill in early May barring state and local officials from making ESG-based investment decisions. The Disney sagaApparel promoting Florida Governor Ron DeSantis sit on a table before a book tour event at the North Charleston Coliseum on April 19, 2023 in North Charleston, South Carolina.

Long after the gunfire, Uvalde remains on edge. Some parents kept their children home from school during the final full week of classes this month amid social media threats of violence that turned out to be unfounded. Tensions remain in part because several investigations into the shooting and police response remain unresolved. The Justice Department, too, is still working on its inquiry into the police response. Vanita Gupta, the department’s third highest-ranking official, visited Uvalde last month to meet with officials and families and reassure them that the investigation was still happening, even if its results were not yet forthcoming.

☆ Europe's energy market faces 3 key challenges this year, the IEA's chief says
▼ + stars: | 2023-05-21 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +4 min

Birol warned that the region's energy market still has three main hurdles to overcome this year, however. China's exit from its zero-Covid policy in December has caused energy demand to increase, with the IEA forecasting that global oil demand will increase by more than 2 million barrels per day this year. Birol said a U.S. debt default would cause oil demand and prices to drop, but agreed that such a scenario was unlikely. And I don't see a major risk for the global oil markets. But of course, oil markets are always involved with risks."

☆ Supreme Court Justice Neil Gorsuch calls COVID-19 response "the greatest intrusion on civil liberties in peacetime history"
▼ + stars: | 2023-05-20 | by ( Sarah Al-Arshani | ) www.businessinsider.com time to read: +2 min

In a statement, Supreme Court Justice Neil Gorsuch made it clear where he stands on the pandemic-era emergency response. The US Supreme Court last week rejected a push by Republican-led states to keep it in place. In an eight-page statement in response to the case, Supreme Court Justice Neil Gorsuch didn't mince words. He called the country's response to the COVID-19 emergency "the greatest intrusion on civil liberties in the peacetime history of this country." In Thursday's statement, Gorsuch warned that the "concentration of power in the hands of so few" won't lead to "sound government."

[1/3] A person walks past a show venue of stand-up comedy company Xiaoguo Culture Media Co that has closed its business, in Beijing, China May 19, 2023. "Stand-up comedy has been the last bastion in which people ... can still enjoy entertaining commentary about public life," said Beijing-based independent political analyst Wu Qiang. "After this, the space for stand-up comedy and public expression in general will inevitably keep shrinking." China's comedy scene rose quickly during the COVID-19 pandemic as people spent more time indoors watching viral streamed comedy shows. The most popular were produced by Xiaoguo Culture Media Co, the firm at the centre of the current uproar.

☆ President Xi Jinping says he doesn't want a hodgepodge 'street stall economy' in Beijing, even as China's youth unemployment rates hit a record high
▼ + stars: | 2023-05-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Chinese President Xi Jinping spoke against having a "street stall economy" in Beijing last week. It cannot operate 'factories in alleys' and engage in the 'street stall economy," Xi said, according to Insider's translation of his speech which was first reported by state news agency Xinhua. "Street stall economy" in China refers to recent efforts by local governments to revive their regional economies and to create jobs by promoting small entrepreneurship. China's youth unemployment rates are at a record highXi's opposition to the "street stall economy" could dash local government efforts to boost the economy through small entrepreneurship, even as China's youth unemployment rate hit a record high of 20.4% in April. This means 11 million Chinese people aged 16 to 24 are out of work, per CNN's calculations on April 30.

☆ Shopify is reopening its offices for in-person work for the first time since the beginning of the pandemic
▼ + stars: | 2023-05-19 | by ( Madeline Stone | ) www.businessinsider.com time to read: +3 min

Shopify will open some of its offices for daily work beginning this summer. Shopify plans to allow its employees to come into its offices to work several days a month, CEO Tobi Lütke told workers at an internal town hall earlier in May. "Shopify continues to value in-person time to build trust and create connections outside of dedicated team events," a Shopify spokesperson said. The company refers to its dedication to remote work as "digital by design." Most recently, Amazon began requiring employees to work in its offices at least three days a week starting this month.

☆ Americans aren't mixing with people in different income brackets or leaving their neighborhoods as much as they did before the pandemic
▼ + stars: | 2023-05-18 | by ( Eliza Relman | ) www.businessinsider.com time to read: +3 min

Americans are mixing with each other and exploring the cities they live in less frequently, a new study found. They found that Americans' behavior has significantly shifted since the onset of the COVID-19 pandemic. The study tracked visits to 433,000 "point of interest" locations, including museums, parks, coffee shops, and grocery stores. And the researchers used Census data to categorize people in four income brackets based on the average income of the census block they lived in. Los Angeles saw the largest drop in diverse interactions, while Dallas, where pandemic restrictions were the least severe, saw the smallest change.

☆ China's domestic travel recovery marred by anti-spending 'special forces'
▼ + stars: | 2023-05-17 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +4 min

[1/2] Passengers wait to board trains at Shanghai Hongqiao railway station ahead of the five-day Labour Day holiday, in Shanghai, China, April 28, 2023. To get to the ancient temples, pagodas and grottoes she wanted to visit, she walked roughly 30,000 steps a day. "I can control the expenses, to go to many places for the least amount of money, but it is really tiring." "Maybe I didn't wear the right shoes, but my feet started to hurt after walking more than 10,000 steps," she said, joking that she exemplified "the battle-scarred version of special forces travel." ($1 = 6.9121 Chinese yuan renminbi)Reporting by Casey Hall and Shanghai newsroom; Editing by Marius Zaharia and Lincoln Feast.

☆ ‘Benefits outweigh the harm’: Worried about their livelihood, small business owners push back on potential TikTok ban
▼ + stars: | 2023-05-17 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +8 min

A potential TikTok ban has raised concerns among small business owners on TikTok, who have found success and built sizable audiences without having to pay for marketing. When Aparna Singh first heard about a potential TikTok ban, she "immediately went into panic mode." Concerned about a potential ban of TikTok, small business owners told CNBC Make It why they think the short-video app should stay. Despite the security concerns, small business owners have expressed frustration over the possibilities of a complete ban. Let your followers know where they can find you if the ban is approved," Powers advised other small business owners on TikTok.

[1/2] The 76th Cannes Film Festival - Opening ceremony and screening of the film "Jeanne du Barry" Out of competition - Red Carpet arrivals - Cannes, France, May 16, 2023. Gong Li poses. REUTERS/Gonzalo... Read moreCANNES, May 17 (Reuters) - Gong Li, one of China's best actors, told Reuters on Wednesday that Michelle Yeoh's recent success at the Oscars and Golden Globes was particularly encouraging for Asian actors. "Since the beginning of the epidemic to now, in fact, the film industry has not been so vibrant, not like it was before, so her award is also an encouragement," Gong said. "Well, congratulations to her, because I also take it as an encouragement to fellow Asian actors to enter the world."

☆ China April industrial output rises 5.6%, retail sales jump 18.4%; below expectations
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

BEIJING, May 16 (Reuters) - China's industrial output grew 5.6% in April from a year earlier, official data showed on Tuesday, missing expectations by a large margin but accelerating from a 3.9% gain seen in March. Retail sales jumped 18.4%, missing forecasts for a 21.0% increase. It was significantly faster than the 10.6% increase in March and marked the quickest growth since March 2021. Fixed asset investment expanded 4.7% in the first four months of 2023 from the same period a year earlier, versus expectations for a 5.5% rise. Reporting by Albee Zhang, Ellen Zhang and Joe Cash Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ Kentucky Republicans to choose challenger to Democratic Governor Beshear
▼ + stars: | 2023-05-16 | by ( Joseph Ax | ) www.reuters.com time to read: +4 min

May 16 (Reuters) - Republican voters in Kentucky were casting ballots on Tuesday to choose their party's challenger to Democratic Governor Andy Beshear, setting up one of the most closely watched elections of the year. The winner will face Beshear, who enjoys high approval ratings despite being a Democrat in a strongly Republican state, in the November general election. Trump won Kentucky in the 2020 election against Democrat Joe Biden by more than 25 percentage points. While Cameron has Trump's official endorsement, other candidates have sought to claim the mantle of Trump's "Make America Great Again" movement. One Republican challenger, Stephen Knipper, has echoed Trump's false claims that the 2020 election was rigged and endorsed conspiracy theories about voting machines.

☆ Asian shares inch up as investors brace for China data, Fed speakers
▼ + stars: | 2023-05-15 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

The guarded optimism is set to extend to Europe when markets open, with pan-region Euro Stoxx 50 futures up 0.2%. Both S&P 500 futures and Nasdaq futures were mostly flat. China is due to report monthly industrial production, retail sales and fixed asset investment data on Tuesday. "However, with China's data throwing up a few concerns of late - we've seen poor import, PPI, and loan data - China's growth is very much at the heart of market moves," said Weston. U.S. crude futures fell 0.6% to $69.61 per barrel, while Brent crude futures were down 0.6% to $73.68 per barrel.

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